While information systems (IS) have long been designed and used to support top managers and their work, there is scant research attention to whether and how IS support for top managers contribute to a firm’s competitive success. Drawing from the dynamic capabilities perspective in the strategic management research, this paper argues that firms can develop and deploy IS to support two critical dynamic capabilities (fast response and mental model building) of their top managers and that the simultaneous IS support for both capabilities may lead to competitive advantage in the dynamic external environment. This argument received some initial support from a study using both survey and archival data.