Dynamics of Competition and Strategy: A Literature Review of Strategic Management Models and Frameworks

This research reviews a comprehensive and somehow chronological literature in the models and frameworks of competition and strategy. Strategic management research is shaped around a core question that why some firms outperform others; several significant lines of work have emerged in the strategic management field since its infancy. These include industrial organization, the resource-based view and dynamic capabilities. Also, Competition essentially has been the focal point of scholars with diverse perspectives such as industrial economics and structural analysis, strategic groups, game theory, and competitive dynamics. In this research, we represent and summarize different perspectives of scholars in framing competition and strategy that is related to theory of the firm and differential firm performance; also, we show that there is a trend from static to dynamic frameworks of strategy and competition which have tried to find an answer to differential firm performance. Finally, we conclude by addressing the potential for utilizing new dynamic and systemic perspectives regarding theorizing dynamics of strategy and competition.