The
framework of Competitive Advantage theory by Porter aims to build a careful
link between underlying choices a firm makes in terms of its industry,
positioning, and configuration of activities and market outcomes. The models
based on industrial organization economics take an outside-in of the firm and
typically stress end product Market positions, the best strategy depends on the
capabilities and  likely behavior of
rivals through their value chains, key drivers, and industry structure. The
idea of Resource Advantage theory by Shelby Hunt to achieve superior
performance, the role of firm
resources as a primary determinant of firm value, the firm focuses
inwardly on the firm’s resources to explain firm profitability and value in rapidly changing environments.  The latest thinking of competitive advantage
by Rita Gunther, there is an assumption of sustainable advantage creates a bias
toward stability that can be deadly. Stability, not change, is the state that
is most dangerous in highly dynamic competitive environments. The pattern to
look for in organizations that have mastered transient-advantage environments
is the continual freeing up of resources from old advantages in order to fund
the development of new ones.