Conceptualizing Business Models for Competitive Advantage Research by Integrating the Resource and Market-Based Views

Two opposing theories have been proposed to explain competitive advantage of firms. First, the market-based view (MBV) is focused on product or market positions and competition while second, the resource-based view (RBV) aims at explaining success by inwardly looking at unique resources and capabilities of a firm. Research has been struggling to distinguish impacts of these theories for illuminating performance. Business models are seen as an important concept to systemize the business and value creation logic of firms by defining different core components. Thus, this paper tries to assess associations between these components and MBV or RBV perspectives by applying content analysis. Two of the business model components were found to have strong links with the MBV while three of them showed indications of their roots lying in the resource-based perspective. These results are discussed and theorized in a final step by suggesting frameworks of the corresponding perspectives for further explaining competitive advantage.