This paper is rather theoretical approach and to answer research questions: is it
possible to build a comprehensive framework integrated all these three theories (IO, OE
and RBV) in strategic management to explain performance of firm in one industry?; and
how are all these three theories integrated conceptually? After reviewing literature related
to all main three theories of strategic management, it can be seen that each theory looks
performance from its own different perspective. This paper tried to argue a mechanism by
complementary views among these three perspectives. As a result, a comprehensive
integrated framework was proposed. Moreover, this study tried to provide several
solutions to operationalize the conceptual framework in reality, or test it empirically.
These solutions are related to variables indicating constructs in the framework, measurement of variables and analytical methodology. In general, this paper is expected
to make several contributions to mostly academics. It provides a good suggestion for
future studies in this field.