Understanding the nature and consequences of the competitive dynamics among firms is a key objective of the strategic management field. We review recent developments in six research streams relevant to competitive dynamics: competitive action and response, first-mover advantage, co-opetition, multipoint competition, strategic groups, and regional clusters. As a first step toward filling gaps in knowledge identified in our review, we provide suggestions for future inquiry within each research stream. We also describe opportunities for conceptual integration across the streams that could significantly advance the understanding of competitive dynamics.