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Traditionally, organizational evolution has been forgotten and only recently has it been analyzed by evolutionary theories: evolutionary economics and organizational ecology. According to the evolutionary economics the evolution of the firm is drawn as a process of individual adaptation running parallel to the evolution of environment. However, population ecology suggested that organizations have not the ability to adapt themselves and the process of organizational evolution is out of the organizational field. So, the adjustment to changed environmental conditions is achieved largely by the death of old organizations and the birth of new ones. We propose a model of organizational evolution combining the adaptation perspective ‐‐ evolutionary economics ‐‐ and the selection one ‐‐ population ecology of organizations. The adaptative ability lies in the endowment resource and capabilities that managers build using organizational capabilities.

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