The Grand Narrative of Competitive Advantage and Toy Models

This paper examines the grand narrative of competition using toy models. It assesses the stories of grand narratives, their characteristics, events, actions, and consequences using the Bayesian approach. We developed selective grand models and toy models based on the vivid philosophical views derived from Schumpeter and Kondratiev, and their close associations are discussed through the lens of the Grand Narrative of Competitive Advantage. Then the notion of a more precise definition of competitive advantage is transformed into a risk and rerun blueprint and its applicability to profit/trade-off. The paper also offers the rich picture that a grand model is comprised of many toy models, it is the toy model instrumental in establishing the vital connection between the actors and events. The paper adopts a systematic epistemological approach to build the notions of grand models and toy models, their applicability and ultimately building advantages in a particular sector. Finally, the paper offers numerous new propositions for policy, and management implications, and revisits the traditional definitions of grand narratives.