Discuss tangible and intangible resources and their impact with the strengths and weakness of a firm
Tangible Assets are the physical assets, which can be measured. For example: inventory, machinery, cash, etc. Intangible Assets are the nonphysical assets, which can’t be measured directly. The intangible assets need substantial efforts to quantify them. Example: goodwill, trademark, brand, etc.
Both tangible and intangible resources have considerable impact on the business operations and overall strength and weakness of the company. While it will be easier to address and correct any negative impact of the tangible asset on the company, any harm on the intangible asset can cost business of the company. It takes years to create a brand and seconds to perish it. So, intangible resources must be cultivated efficiently to maintain the competitive edge of the company.
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