BUSINESS ADMINISTRATION
STRATEGIC MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Relatively easy to identify and Create value for Customers
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Difficult for competitors to account for or imitate
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Often are based on Developing, carrying and exchanging
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Distinguish a company from its competitors and reflect its personality
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Detailed explanation-1: -Intangible resources (because they are less visible and more embedded in the firm’s history) are more difficult for competitors to understand and imitate. These include such resources as scientific capabilities, knowledge within the firm, organizational routines, or the firm’s reputation for quality.
Detailed explanation-2: -Intangible resources are more difficult for competitors to imitate as tangible ones. A) True; Much more difficult than tangible resources for competitors to account for or imitate are intangible resources, which are typically embedded in unique routines and practices that have evolved and accumulated over time.
Detailed explanation-3: -Competitors have a hard time replicating resources that are difficult to imitate . Certain resources can be and are protected by various legal means, including trademarks, patents, and copyrights, which ensures they are difficult for the competition to imitate.
Detailed explanation-4: -However, intangible resources are more likely than tangible resources to produce a competitive advantage, since they are often rare and socially complex, thereby making them difficult to imitate (Hitt, Bierman, Shimizu & Kochhar, 2001).
Detailed explanation-5: -Note: Intangible resources tend to be the most difficult to imitate. As such, a valuable and rare resource will only allow for the creation of a sustainable competitive advantage if other firms are not able to acquire the resource or some viable substitute for the resource. Thus, inimitability is essential.