Resource management, a field of business management & entrepreneurship that holds significant aspects for profitability reasons. The proper handling of resources while being in a management position is the biggest responsibility of the leadership. A CEO or President of a company is not only a vital think tank. But, also holds high impact decisions in his hands for a company’s success agendas. His real concern is not only profitability, but bringing sustainable aspects merged with profitability aspects.
While handling resources, the leadership must always be abreast of situations that can change dramatically in a company. It’s the role of the CIO or the CEO to evaluate company’s goals and its vision. Furthermore, its long term plans before bringing resource management into the hierarchies. Why resource management is important aspect for sustainability? A question that entrepreneurs usually ask themselves when making fruitful investments in their businesses. The simple and easy answer is for the long term vision of the company. For a visionary entrepreneur there are many benchmarks that needs to be accomplished. However, the most important ones is proper utilisation of resources while minimising the overhead costs. These practices of resource management are also incremental ones for quality management and quality assurance procedures.
PROPER UTILISATION OF RESOURCES:
The Utilisation of resources holds vital growth aspects for a fresh business that is struggling in its early days. “It’s NOT ONLY THE USE”, it’s the utilisation of resources that counts for an entrepreneur. This is vital in their vision to grow forward or way forward. The resources can include financial resources and managing critical assets. Also includes human resources, intellectual property and other all kinds of resources. Merged with the success of a business, these are the most ironic resources. While stepping into a business and making it sustainable, the necessary elements should be the essential resource planning.
‘HRM’ & IT’S SUSTAINABILITY ASPECTS:
‘HRM’, or Human Resource Management is the ability to manage human resources of a company. The consideration is for sustainable developments and a corporate vision. Hence, vital investments in the Human Resources are key elements. These are in terms of training and development programs. Furthermore, also includes human resource planning being part of the two critical success factors. These factors concerns major growth prospects for the resources and how they can be an asset for the company.
After the identification of the vital strategic assets. What’s needed by the company’s growth should be the realisation for a short term company strategy. According to the sustainability aspects for human resources there are certain KPI’s that needs to be considered with higher weight-age. All these are aspects for the evaluation of performance management.
IMPROVING RESOURCES- A ‘QA’ PERSPECTIVE:
From a Quality Assurance perspective what’s necessary to evaluate is the question “How to improve the resources?” The resource management ‘Point of view’ also needs the vision for the constant improving of the resources and HOW? Investing time and money in the resources is a huge factor that will influence the measures attached to Quality assurance.
Part & parcel of the process is consistency in monitoring the resources and what’s best for the company in terms of long term investments. Consistent business management practices and maintaining the best practices is yet another dimension of creativity for successful resource management.
WHY IS IT IMPORTANT FROM PROFITABILITY ASPECTS?
Handling & managing the resources from profitability aspects is one of the aims of a CEO or the CIO of a company. The leadership not only holds measures that should include measuring improvements. Also includes the taxation, reconciliations, other account management, and seeing way beyond in time ahead. Thus, financial analysis for a leader is highly crucial for future decision analysis. Thinking from profitability aspects in the initial phase of any investment is the true sign of a successful & a visionary entrepreneur. It clearly signifies why profitability is the basic need for an entrepreneur’s vision for future success agendas ? Therefore, handling the resources properly for a successful business man is also vital for his future risks realisations. Finally, risk management is yet another significant aspect of proper resource management in an organisational culture.