The study addressed the diverse views on the role of organizational resources in firm performance in high velocity industry context. It adopted a multidisciplinary approach to examine the linkage among organizational resources, industry velocity, attention focus and firm performance. It found that resource based advantages are rather transient in highly dynamic environments hence need to constantly adapt the internal factors through firm capabilities. The influence of the external environment on resource application decisions is however partial as only a portion of the environment is actually perceived and interpreted by strategic decision makers through the