Abstract
AbstractThis is the first of two papers relating to the idea and theory of competitive advantage. In this paper, the principal task is to return to basics and reveal some of the intellectual foundations to the concept of competitive advantage.In particular it is shown that the theory of competition, which informs the development of industrial economics, and Porter's (1980, 1985) work on competitive advantage entails profound methodological problems that bring into doubt the validity and reliability of the theory itself.It is therefore argued that any theory that relies on competition theory, including the theory of competitive advantage, will inherit the flaws of its origins. Copyright © 2003 John Wiley &Sons, Ltd.
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