Theoritical framework for the study of microfoundations from strategic decision making

Abstract

This article explores two trends of thought related with the achievement of a sustainable competitive advantage in organizations. On the one hand, authors argue that a collective development of organizational capabilities and a proper use and accumulation of differentiating resources allow firms to create a competitive advantage over time. On the other hand, authors maintain that executive individual capabilities are the responsible for achieving this competitive advantage. Based on a literature review, a theoretical framework is developed. This framework incorporates both lines of thought and literature based on four views that connect them. Then, literature is profoundly analyzed and a set of future research opportunities is proposed.