When a company’s resources are valuable, rare, imperfectly imitable, and nonsubstitutable, it has a . Necessary to sustain a competitive advantage, resources are not controlled or possessed by many competing firms.

Rare resources

Explanation:

When a company’s resources are valuable, rare, imperfectly imitable, and nonsubstitutable, it has a . Necessary to sustain a competitive advantage, rare resources are not controlled or possessed by many competing firms.  

There are four conditions in economics that must be met if an organization aims at having competitive advantage over other firms, these conditions is that the resources utilized by the firm should be valuable, that is, the resource should aid the firm in improving efficiency and effectiveness, it should be rare, imperfectly imitable, that is, it should be impossible to imitate or duplicate and lastly it should be nonsubstitutable (impossible to replace). This characteristics of a resource will give a firm a strong competitive advantage in the market.

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