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

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

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Resources and competencies are very much related to each other because in an organization for having a successful strategic planning,the organisation needs to have both the things. One is having the sufficient amount of resources which are required for achieving the goals and objectives of the organization.Also,the organisation needs to have proper employees who must have the necessary skill and knowledge to carry out difficult tasks very easily because in an organization many problems occur and the employees must be mature enough to understand the problem and must be be able to use the resources of the organization in the best possible manner.This will help in preventing the wastage of resources and using the resources in a very wise manner.Thus,in any organization strategic planning is only possible when these two things work in coordination with each other.

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