There are four conditions that must be met if a firm's resources are to be used to achieve a sustainable competitive advantage. The resources must be valuable,rare,imperfectly imitable,and the firm must be organized appropriately.

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These four conditions, commonly known as VRIO criteria, are widely accepted as the key factors that determine whether a firm's resources can be used to achieve sustainable competitive advantage. If a firm's resources are valuable in the sense that they help the firm exploit opportunities or offset threats in its environment, rare in the sense that they are not possessed by many other firms, imperfectly imitable in the sense that it is difficult for other firms to replicate them, and organized appropriately in the sense that the firm has the right structures, systems, and processes in place to fully leverage its resources, then it is more likely to achieve long-term success in its industry.

There Are Four Conditions That Must Be Met If a Firm's