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Abstract
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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Article Details
Issue: Vol 15 No 1 (2012)
Page No.: 14-31
Published: Mar 30, 2012
Section: Economics, Law and Management - Research article
DOI: https://doi.org/10.32508/stdj.v15i1.1780
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Copyright: The Authors. This is an open access article distributed under the terms of the Creative Commons Attribution License CC-BY 4.0., which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.
How to Cite
Nguyen, L. (2012). ON THE EXPLANATION OF COMPETITIVE ADVANTAGES OF FIRMS: THREE ALTERNATIVE APPROACHES. Science and Technology Development Journal, 15(1), 14-31. https://doi.org/https://doi.org/10.32508/stdj.v15i1.1780
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