Meaning of the word "take stock of" in English

What does "take stock of" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

take stock of

US /teɪk stɑk əv/
UK /teɪk stɑk əv/
"take stock of" picture

Idiom

1.

to review and assess a situation or one's resources

Example:
Before making a big decision, it's wise to take stock of your options.
After the failed project, the team needed to take stock of what went wrong.
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