Final answer:
Established business processes support strategic orientation by providing transparent information that attracts outside investments, and informed decision-making in geographical placement and long-term investments. The correct answer is option: a) strategic orientation.
Step-by-step explanation:
Having well-established business processes serves the strategy of strategic orientation. When a business is well-established, it reduces the reliance on personal knowledge of individual managers, as information about the company's products, revenues, costs, and profits becomes more widely available.
This allows for the strategic orientation to be clearly communicated and executed, leading to potential profits in the near future. Outside investors such as bondholders and shareholders, not personally acquainted with the managers, may be more inclined to provide financial capital to a firm with transparent and robust business processes.
Moreover, business geography plays a vital role in ensuring a business does not make costly mistakes in locating its operations, whether factories, warehouses, or retail stores. The strategic orientation informed by geographical insights helps in expanding customer bases, thereby fostering growth and mitigating risks.
Strong business processes are crucial for flexibility and adaptation in times of uncertainty, allowing for shifts in values and strategic adjustments (Flexibility in Uncertainty). Finally, established processes enable firms to make informed investment decisions for long-term assets and R&D projects, essential for meeting the Investment Strategies and Financial Assets objectives.