L a Moving to the next question prevents changes to this an

L> a) Moving to the next question prevents changes to this an Question 17 Which of the following is considered as an intangible resource of a firm? O a. The managerial skills of an employee O b. The possession of patents to an invention O c. The access to raw materials of production O d. The ability to raise external capital /is Moving to the next question prevents changes to this answer.

Solution

Answer - Option (B) - The possession of patents to an invention

Explanation: Intangible resources of an organisation are defined as the assets that are not physical in nature and therefore, cannot be measured. They are deeply rooted in the organisation’s history and have accumulated over time. Some of the common examples of intangible resources of a firm are the corporate intellectual property that the company possess such as patents, trademarks, copyrights, methodologies of doing business as well as goodwill and brand reputation. A competitive advantage based on intangible resources is more sustainable as they are less visible and therefore, difficult for the competitors to analyse or imitate them.