Business Management

What You Need To Know About Management Resource

Introduction

A company consists of different elements. All of these elements have to be managed by different. Ideally, these tasks should be allocated according to the person’s skills and what he or she is good at. Management resources refer to an organisation’s efficient and effective deployment of its resources when they are need. The types of resources that can be allocated consist of financial resources, inventory, human resources, production resources and information technology. Allocating resources effectively can take a huge amount of pressure off the manager and he can focus on his job better. So, it is better to take this step at the right time so the business can run smoothly

History

Management resource is a fairly new concept. It was heard of in the 1980s in the United States. This term treated employees like an asset. This concept basically increased the commitment of the employees and their motivation as well. This allowed people to do what they are good at. This increased their confidence as well as self-esteem which resulted in a great output and higher revenues; these were enjoyed by the whole company. Today, this field has expanded into a number of specialist disciplines which diversity, rewards, resourcing and employee relations. It is a field that is also studied in higher education in many prestigious educational institutions.

Features

Management resources can be a difficult task. Before conducting this, a manager should do a survey of his employ about their preferences. If they asked this, they will feel like they matter and their opinion is valued. If they choose a topic of their liking, they are more likely to be motivated to do the job. Management resources can be divided into sub-fields. Information Technology refers to the section which deals with computer and software related problems. This task can be allotted to engineers who are good at this field. Financial resources consist of all money related problems. This job can be allotted to accountants and people who have previously worked in banks. Production resources can be allotted to people who can use their expertise in this field. The most important section of management resources is human resources. This refers to manpower and whose skills can be used where.

Tips and comments

Management resource can have many advantages. If done in an efficient manner, it can lead to a productive environment with a motivated workforce. This workforce can be given projects where they can interact with people from other disciplines. This will improve their work as well as social skills. They can make contacts with important people and these can prove to be very beneficial. Staying organised is essential for the management of any organisation. All the paperwork and file work should be handled by the person who is capable, motivated and organised. Inventory has to be handled by an organised person as well. The task of record-keeping should also be allotted to a specific person who can be in charge of recording all the activity that goes around. An assistant should be hired to answer phone calls and emails. This will ensure a maximum response from customers.

By Sultan Khan, published at 02/08/2012
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