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Topic: Miscellaneous
Number of pages / Number of words: 2 / 470
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This has an important implication. Since managers often fail to apply this , they tend to base long-term strategies on resources that are imitable.

4. Difficult to substitute: The first source of imitability is physical uniqueness which by definition is inherently difficult to copy. A beautiful resort location, mineral rights simply cannot be imitated...

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A beautiful resort location, mineral rights simply cannot be imitated. Many managers believe that several of their resources may fall into this category, but on close inspection, few do.

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