Organizations and individual resources can achieve sustained competitive advantage through VRIO framework. The below flow chart explains advantages and disadvantages of each parameter of VRIO framework.
Valuable: It is important that the resources add value to the offering of the organization. This can be in the form of increased quality, add-on features, decreased cost of production, increased differentiation. Basically, the product must provide competitive advantage to the firm.
Rarity: The resource must be rare in terms of their availability with the firms. These are important to achieve competitive parity.
Imitability: In order to have a sustained long-term advantage, the resource must be unique in terms of getting a substitution or imitation of that resource.
Organized: The firm / organization must be capable to exploit the valuable, rare and imitable resources to exploit them to their advantage.