ON THE EXPLANATION OF COMPETITIVE ADVANTAGES OF FIRMS: THREE ALTERNATIVE APPROACHES | Zendy

Nguyễn Thành Long | Zendy

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ON THE EXPLANATION OF COMPETITIVE ADVANTAGES OF FIRMS: THREE ALTERNATIVE APPROACHES

Author(s) -

Nguyễn Thành Long

Publication year - 2012

Publication title -

science and technology development journal

Language(s) - English

Resource type - Journals

ISSN - 1859-0128

DOI - 10.32508/stdj.v15i1.1780

Subject(s) - competitor analysis , competitive advantage , industrial organization , resource based view , resource (disambiguation) , entrepreneurship , business , theory of the firm , economics , microeconomics , marketing , computer science , computer network , finance

The survival, the development or the superiority of firms in an industry are determined by the firm’s competitive advantages relative to its competitors. This article reviews the theories on the definitions and sources of competitive advantages of firms. Three approaches to explain competitive advantages of firms which will be discussed include: (1) Porter’s theory of Five Forces competitive strategy, (2) resource-based view theory and (3) theories of entrepreneurship.

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