In conclusion, this paper has developed a general framework integrating resources and competitive environment as sources of firm competitive advantage and performance, with a will to consider market power as well as efficiency rents. On the one hand, this conceptual framework is an attempt to synthesize the RBV and some of the criticisms that have been addressed to this theory. On the other hand, it builds on Porter’s five forces model to incorporate the environmental factors relating to competition. To grasp the impact of multimarket contacts on competition, the paper has brought into the conceptual framework some insights from the competitive dynamics literature (regarding to the behavioral assumption underlying the condition of non-imitability and the relevant unit of analysis to study competition).