Question

How are resources and competencies related? How do resources and competencies impact strategic planning? Provide in-text citation from your textbook.

Answer 1

Resources and competencies are related positively with each other. In the event that the association is ingenious, it can have more elevated amount of capabilities since it will have the capacity to contract and hold capable and skillful individuals from the business. Additionally, the inverse is likewise valid. In the event that the association is skilled, it will disobediently be ingenious over the long haul.

Both resources and competencies help formulate the firm’s strategies. The procedures are detailed taking into the image the qualities, shortcomings of the association which originates from assets and abilities.