Open AccessON THE EXPLANATION OF COMPETITIVE ADVANTAGES OF FIRMS: THREE ALTERNATIVE APPROACHES
Author(s) -
Long Thanh Nguyễn
Publication year - 2012
Publication title -
khoa học công nghệ
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.