Effective formulation and implementation of the business strategy is a fundamental element of achieving competitive advantage, and thus the long-term sustainability of each business entity. The modern complexity of corporate governance, stemming from the internal growth and development of the organization, but also the dynamism and competitiveness of the external market, has made an irresistible difference between traditional approaches to achieving competitive advantage and the actual assumptions of functioning of the modern business world, which cannot be characterized as stable and predictable. For a long time, a stable business environment was the implicit assumption of, at that time, all relevant strategic theories and models, an assumption most reflected in the efforts of management theorists to offer solutions for achieving sustainable competitive advantage. However, the modern business environment, characterized by turbulence and a large number of competitive actions and reactions, requires concrete changes in the assumptions of the process of formulating and later implementing the strategy. Therefore, the simultaneous reflection on strategic positioning and competitive dynamics becomes the basis for distinguishing successful from unsuccessful business models, for companies facing increasing global competition and declining industrial growth rates. The disruptive factors of technological innovation and globalization imply a constant state of market imbalance, even in industries that have until recently been considered stable. In addition, contemporary theories of gaining competitive advantage dictate that business organizations will, solely through the continuous acquisition of new competitive advantages, focusing on internal resources and competences, that will ultimately determine whether an enterprise is able to seize opportunities and avoid the dangers arising from their external business environment, capture a long-term sustainable/profitable market position.