Lavender Furniture established itself in 1965 as a small firm. It was situated on a small stretch of land located miles away from the town. Over the years, due to the high quality of its products, it acquires enough profits to own multiple assets, such as a bigger plot and machinery, recruit employees and establish itself as a brand. Which of the following is an element of the strategic management process that Lavender Furniture has acquired?
A)Values
B)Resources
C)Capabilities
D)Fame

Question

Quizplus · Accepted Answer

Lavender Furniture has acquired resources, such as land, machinery, and employees, which are essential elements in the strategic management process for growth and development.

Lavender Furniture Established Itself in 1965 as a Small Firm