Wednesday, November 20, 2019
Business Resources Essay Example | Topics and Well Written Essays - 1000 words
Business Resources - Essay Example The mere presence of resources in a business is not sufficient to ensure that the business is successful. The resources of a business should be employed in an intelligent and strategic manner to ensure its success. The human resources of a business include the personnel and employees working in the company. The human resources also include the management expertise and skills resources. The human resources are considered to be the most critical resources of a business in the modern business world. The effectiveness of the human resources of a business can be gauged with the help of the skill base achieved in the business. The skills possessed in a business and the ability to use the skills to meet the changing dynamics and requirements of the business are important factors that should be considered for evaluating the human resources of the business. The audit of the human resources should be conducted periodically to ensure that the assessment of the human resources available to the business is done fairly and to find out the emerging needs of the business regarding human resource management. Some relevant factors that can be used to audit the human resources are the identification of resources of staffing like the number of employees by function, the remuneration, qualification, location, experience, and grades of the employees. The assessment of key intangibles like business culture and morale are other factors which can be used to represent the effectiveness of human resources present in a business. The physical resources of a business include a number of operational resources that can be used for the delivery of specific strategies using physical capabilities. The physical resources of a business may be of many types and can vary according to the nature and scale of the business. The production facilities like capacity, production processes, maintenance and investment requirements, quality and organization are important factors which decide the effectiveness of physical resources in an organization.