Final answer:
Weaknesses are characteristics that place an organization at a disadvantage relative to others, and can create barriers to entry in the market. These include resource immobility, externalities, and can lead to unequal market treatment.
Step-by-step explanation:
Characteristics that place the organization at a disadvantage relative to others are termed weaknesses. Identifying weaknesses is a core component of the SWOT analysis (Strengths, Weaknesses, Opportunities, Threats) used by businesses to assess internal and external factors that could affect their success. Weaknesses can translate into barriers to entry, restricting a firm’s ability to compete in the market. Examples of such barriers include the inability of resources to move freely to where they are most needed, or the presence of externalities which can introduce unintended negative consequences to the business environment. Moreover, these barriers can lead to unequal treatment within the market, much like certain minority groups may experience in broader social contexts.