g 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 are unique resources that is not controlled or possessed by many competing firms. Only a small number of competing companies control it. It usually stands out by being distinctive among the set of future competitors. Rare resources are short in supply and capable of persisting over an extended time, this makes it a source of competitive advantage for a company.
Explanation: rare resources simply defined are resources that are not controlled or possessed by many competing firms in an industry. They are rare by their quality being unique among potential competitors. Competitors have difficulty replicating these resources because they are difficult to imitate, are protected by legal means, or have evolved over time and thus reflects the unique aspects of a business.
