... project/capabilities interaction as a paradox faced by project managers, observed management tactics, and the potential of product/process development projects to stimulate change. THE HISTORY OF CORE CAPABILITIES Capabilities are considered core if they differentiate a company strategically. The concept is not new. Various authors have called them distinctive competences (Snow and Hrebiniak, 1980; Hitt and Ireland, 1985), core or organizational competencies (Prahalad and Hamel, 1990; Hayes, Wheelwright and Clark, 1988), firm-specific competence (Pavitt 1991), resource deployments (Hofer and Schendel, 1978), and invisible assets (Itami, with Roehl, 1987). Their strategic significance has been discussed for decades, stimulated by such research as Rumelt's (1974) discovery that of nine diversification strategies, the two that were built on an existing skill or resource base in the firm were associated with the highest performance. Mitchell's (1989) observation that industry-specific capabilities increased the likelihood a firm could exploit a new technology within that industry, has confirmed the early ...

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