Competitive parity exists when a resource is:

Question

BlackTom AI · Accepted Answer

In the VRIO framework, a resource that is valuable but common among competitors produces competitive parity.

1. Relevant knowledge points and concepts
- VRIO is a resource-based framework assessing Value, Rarity, Imitability (Costly to imitate), and Organization.  
- Outcomes: not valuable → competitive disadvantage; valuable but not rare → competitive parity; valuable and rare (but easily imitated) → temporary competitive advantage; valuable, rare, costly to imitate and well organized → sustained competitive advantage.

2. Step-by-step reasoning
- Step 1: Ask whether the resource is valuable (does it enable a firm to exploit opportunities or neutralize threats?). If no, the firm suffers a disadvantage. If yes, proceed.  
- Step 2: Ask whether the resource is rare (do few competitors possess it?). If the resource is valuable but many competitors also have it, no firm gains an advantage over others — they end up at parity.  
- Step 3: If it is rare, consider imitability. If it is rare but easy to copy, any advantage is temporary. If it is rare and costly to imitate and the firm is organized to capture value, the advantage can be sustained.

3. Intermediate steps (logical, not numeric)
- Determine: Resource = Valuable? Yes → move on.
- Determine: Resource = Rare? No → outcome = competitive parity. No need to test imitability for parity outcome.

4. Why the correct answer is correct
- Competitive parity means firms are on equal footing: the resource creates value but is widely held, so no single firm gains a relative advantage. Thus a resource being "Valuable" (but implicitly not rare) corresponds to competitive parity.

5. Why other options are incorrect
- "Not valuable": yields competitive disadvantage, not parity.  
- "Valuable and rare": yields at least a temporary competitive advantage, not parity.  
- "Valuable, rare and costly to imitate": yields sustained competitive advantage (if organized), the opposite of parity.

6. Conclusion
- Therefore, competitive parity exists when a resource is valuable (and not rare), so the correct answer is: Valuable. This matches the provided answer.

Competitive parity exists when a resource is:单项选择题

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