Without continuity, organizations are unlikely to develop competitive advantage. Continuity reviews if there is enough stability in the core of a strategy to allow an organization to improve what it does, foster tailoring, trade-offs, and fit (Magretta, 2012). Continuity enables competitive advantage in several way. Firstly, it reinforces a company’s identity by building a company’s brand, reputation, and customer relationships. Continuity also helps suppliers, channels, and other parties contribute to a companies’ competitive advantage. Lastly, continuity fosters improvements in individual activities and fit across activities. It allows an organization to build unique capabilities and skills tailored to its strategy.
In order for a strategy to last it must undergo some changes. Constant changes would be detrimental as it would prevent a company from standing firm on strategic points. Good strategies have staying power. Over time entrepreneurs can observe if a strategy has been successful. However, as customers and the industry are constantly evolving strategic measures may become obsolete over time. As such, it is important for entrepreneurs to constantly monitor and review strategies.
References:
Hyman, M. R., & Sierra, J. J. (2010). Marketing research kit for dummies. Hoboken, NJ: John Wiley & Sons Inc.
Magretta, J. (2012). Understanding Michael Porter: the essential guide to competition and strategy. Boston, Mass: Harvard Business Review Press.
Art is Life's Paintbrush 
I agree wholeheartedly that effective strategy boils down to a careful balance between stubbornly standing firm and being overzealous with changes. Like you mention, a perpetual state of objective evaluation is key, making it essential for leadership teams to possess strong critical thinking skills, as well as really have their finger on the pulse of the industry they cater to.
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