One of the key questions posed by 21st-century managers is "How can we possibly compete when everyone can copy our technology and the competition is a click away?" One path to take involves creating a resource or set of resources for sustainable competitive advantage. List the four characteristics that such resources must have for the possibility of sustainable competitive advantage to exist. Why is it important to have all four simultaneously? (Hint: resource-based view)
a) Rarity, Imitability, Non-substitutability, Appropriability; All four are necessary to ensure uniqueness and long-term advantage
b) Commonality, Uniqueness, Substitutability, Appropriability; Any three are sufficient for competitive advantage
c) Accessibility, Complexity, Substitute availability, Appropriation; All four are essential to thwart competitors
d) Transparency, Simplicity, Non-substitutability, Appropriation; Any two are adequate for sustainable advantage