Abstract This study aims to review the literature related to innovation strategy, entrepreneurship, and business platforms in maintaining a company's competitive advantage. Through the analysis of various literatures, it is found that sustainable innovation, strategic entrepreneurship, and business platform development play an important role in adapting to market changes. This study also discusses the challenges faced by companies in implementing these strategies and how innovation can be a key driver in achieving competitive advantage. This article will discuss the main theories in the innovation literature, case study analysis on companies such as Netflix, and implications of platform strategy.