Abstract
This article identifies an essential research area where a strategy-as-practice approach can make important contributions to the strategic management field: the dynamic process through which organizational assets are developed. It compares strategy-as-practice and dynamic capabilities perspectives and demonstrates how the former may complement the latter in analyzing activities that underpin and may create and modify organizational assets. Several distinct features of the practice approach are identified as fertile ground for examining the micro-foundations of strategy dynamics. It is demonstrated how activity configurations, socio-cultural embeddedness, co-evolution, social interactions, the inclusion of multiple strategists and an awareness of the importance of imagination can complement the dynamic capabilities perspective and may provide suggestions for a dynamic view more generally.