Evolution of Competitive Advantage within RBT Framework—from Profit to Value and from Value to Payment

Competitive advantage lies in the center of strategic research. Strategic management literature approaches competitive advantage mainly from the perspective of economic profit and value creation. RBT' s understanding of competitive advantage has evolved from the profit perspective to the value perspective and from the value perspective to the payment perspective. This evolution has resulted in a sharp and consistent definition of competitive advantage, which partially solved the issue of tautology and enhanced the micro-foundations of RBT.