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The theoretical transition being apparent in the analysis of internal competitive advantage sources is being dealt with in this paper. A theoretical approach is being applied which is focused on those processes allowing companies to upkeep and enhance their competitiveness, become adapted to changes, and become able to foresee changes in the market. This survey shows the eclectic nature of dynamic capacities bringing in dynamic elements into static-nature theories, and further addresses the biases being apparent in these two approaches both in the theoretical setting and in the managerial practice. This survey also looks into the generation, development and change processes pertaining with operational resources Dynamic capabilities help generate higher income and maximise innovation and strategic development. [ABSTRACT FROM AUTHOR]