Role Of Resources In Management

Lesson 17 : Resources

Role Of Resources In Management

Resources are very important in management of any institution or activity. Resources have three important roles.

  1. Capacity to Meet Goals:
  2. Resources have the potential to achieve targets. If we possess money but cannot use it to satisfy our needs, it cannot be termed as a resource. Resource is only that object or capacity that is available to be used for meeting our goals.

  3. They can be Developed or Generated:
  4. Certain resources like human resources, which include knowledge and skills, can be developed. It is also possible to generate material resources like money income, assets etc. with the help of human resource and visa versa. Thus, with efforts we can generate more resources or develop new ones. Development and generation of resources help us in meeting more goals and give us a power to determine the future and feeling of security and satisfaction. For example, a woman has developed a talent of making useful items from the waste material. She can use this talent for decorating her house or can also generate money by selling those items.

  5. Resources can be Conserved or Saved for Future Use:
  6. Certain resources like money and material resources can be saved, for their use in future. Thus, they act as reservoir for meeting not only present but also future goals. It is also possible to conserve those resources, which might deplete soon and may not be available in future for use like oil reserves etc.

Last modified: Saturday, 24 March 2012, 11:18 AM