What causes a resource or capability to be valuable?

The capability or resources becomes valuable if they enable an organization to mitigate the threat or exploit the environment's available opportunities. Threats and opportunities constitute an essential part of the strategic planning of any organization. For instance, an organization has to identify various threats, i.e., competitors, theft, and develop a way to mitigate them. Moreover, to gain a competitive advantage, a firm has to exploit the available opportunities and capture a loyal customer base before its competitor join the business.