$1.$

A theory that contends that the possession of strategic resources can provide an organization with competitive advantages over its rivals.

$2.$

An asset that is valuable, rare, difficult to imitate, and nonsubstitutable.

$3.$

Resources that help a company create strategies that capitalize on opportunities and ward off threat.

$4.$

Resources that exist when competitors cannot find alternative ways to gain the benefits that a resource provides.

$5.$

What the organization can do based on the resources it possesses.