Based on analysis of connotation of competitive advantage, presented is to conceptually test that a firm competitiveness may be ascribed to acquisition of sustainable competitive advantages, whose conditions to be transformed from competitive advantage are shaped a proposed border of firm competitiveness. Furthermore, from the core competence within resource-based view, a framework for available analysis for competitiveness, or sustainable competitive advantages, is deduced in the fours facets in institution, organization, technology and cognition-enabled competences respectively, expressing how to apply the transformed condition of sustainable competitive advantage from competitive advantage. Finally, value creation and corporate governance as sources of firm competitiveness are referred to implications for further research.