Company Resources

Today, we are going to discuss the  Company Resources and evaluate them. Let’s start with some basics for Company Resources.

Concepts of resources

Resources are an organization’s assets and are thus the basic building blocks of the organization.

They include tangible assets, such as its plant, equipment, finances, and location, human assets, in terms of the number of employees, their skills, and motivation, and intangible assets, such as its technology (patents and copyrights), culture, and reputation.

Threshold resources are the minimum resources required to withstand competition. An organization’s strategic capabilities are determined by three important internal factors:

  • Available resources
  • Competencies to undertake activities.
  • Balance of activities, resources, and business units.

What makes resource valuables?

  1. Is the resource or skill critical to fulfilling a customer’s need better than that of the firm’s competitors.
  2. Is the resource scarce? Is it in short supply or not easily substituted for or imitated?
  3. Appropriability: Whether the resource supportive enough to generate gains?
  4. Durability: How rapidly will the resource depreciate?

Company Resources

Company Resources refer to the required resources to operate a Business. Company Resources are basic building blocks of company authority and can use to achieve its objective and target. 

Company resources include tangible assets, (such as its plant, equipment, finances, and location, human assets, in terms of the number of employees, their skills, and motivation), and intangible assets (such as its technology (patents and copyrights), culture, and reputation).

Types of Company Resources

The Best types of Company Resources which are crucial to the business are the following:

  • Financial Resources
  • Human Resources
  • Material Resources
  • Intellectual Resources

Financial Resources

financial resources of Company
Financial Resources

Financial resources are the assets of the company which are used for company activities like paying salaries, buying raw materials, etc. The best financial resources management approach is important to achieve the objectives and target of the company.

The condition where the shortage of financial resources can compromise the short-period operation must be avoided. For example, if the organization does not have the fund to buy raw materials and pay salaries.

When a company needs Financial resources, the company used the following types of sources of funds.

  • Share Capital or Equity Shares
  • Preference Capital or Preference Shares
  • Retained Earnings
  • Debenture
  • Trade Credit
  • Factoring Services
  • Working Capital Loans
  • Bill Discounting
  • Venture Funding
  • Lease Finance

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Human Resources

Human Resources
Human Resources

Human resources are the building block of any company. Without Human resources, there are no performance and achievement.

If you work at an organization, you already know a little bit about Human Resources. The organization has a department for recruitment of employees and dealing with staff, like paying salaries, onboarding, training, and development.

In this article, We are talking about people who work for organizations and their skills, Knowledge, Culture, and expertise. They play important roles in an organization because human resources impact company performance and achievement.

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Material Resources

Material Resources
Material Resources

Material Resources are the tangible assets of the company that can use to achieve its objectives and targets. Material resources can be touched or seen.

Material resources are dynamic in nature. They are changed with the change in time and technology. When new technology is implemented, it may replace old machines with a new ones for better performance.

Some examples of Material Resources:

  • Machinery and Technological tools
  • Real state and for furniture
  • Raw material
  • Manufactured Product

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Intellectual Resources

Intellectual Resources
Intellectual Resources

Intellectual Resources are the intangible assets of the company that can be used to achieve its objectives. Intellectual Resources cannot be touched or seen.

It can include recipes for those who deal with food. Or it can include a particular way of doing things. It is impossible to measure the actual value of intellectual resources A Review of Peachy Essay Writing Site.

Some examples of Material Resources:

  • Brand
  • Patents
  • Copyrights
  • Partnerships
  • Customer databases
  • Software

Importance of Company Resources

  • The company resources are basic building blocks of company authority and can use to achieve its objective and target.
  • It provides you with an overview of everyone and everything involved in your company.
  • It enables utilization planning and gives you control.
  • It makes the planning and management process more transparent and helps you see problems before they start.

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