Maximising Resources to Achieve Business Success

This document discusses the importance of resources in achieving business success, the impact of resource shortfall on business performance, the monitoring and usage of resources, new technologies available to organizations, and the key skills needed by a successful project manager. It also explores the three stages of the project cycle and the importance of quality and excellence in organizations.

Maximising Resources
to Achieve Business
Success

Table of Contents
INTRODUCTION...........................................................................................................................1
Task 1...............................................................................................................................................1
The resources needed by organisations in different business sectors of the economy................1
Impact of shortfall in resources on business performance...........................................................2
Task 2...............................................................................................................................................2
How and why resources must be monitored................................................................................2
What is meant by benchmarking and how this is used by organisations to monitor resources?. 2
What is meant by performance indicators and how they are used by organisations to monitor
human resources?.........................................................................................................................3
Explain best practice in terms of resource monitoring and usage...............................................3
Assess resource monitoring in an organisation, recommending further developments and/or
corrective action...........................................................................................................................3
Task 3...............................................................................................................................................4
Describe new technologies available to organisations ................................................................4
Explain how new technologies are used by organisations...........................................................4
Explain how new technologies are impacting on organisations..................................................5
Assess the risks faced by organisations if they do not protect their technology..........................5
Task 4...............................................................................................................................................6
Identify and explain the key skills needed by a successful project manager ..............................6
Describe the Three Stage-Project Cycle .....................................................................................6
Explain why it is important to identify and rank a project’s critical factors................................7
Explain the tools used for managing projects .............................................................................7
Explain the purpose and importance of project evaluation and review.......................................8
Plan a project to manage or monitor resources using all the stages of project management.......8
Task 5 ..............................................................................................................................................9
Explain the terms excellence and quality and the impact of these concepts on organisations....9
Describe tools and techniques that are used by organisations to ensure the quality of their
products and services...................................................................................................................9
CONCLUSION..............................................................................................................................10

INTRODUCTION
Resources are the very important thing for organization and individual as it helps to fill
the customers demand and increase the business performance. Different resources in relation to
run and operate the business are human, financial, information resources, physical resources and
others that should be organised and arranged properly which can help to complete the task and
attain the competitive advantages (Fernando, Jabbour and Wah, 2019). The report is about is
INTEL that manufactures audio visual equipment. This is an American multinational corporation
and technology based enterprises that bring new products and services in competitive
environment and develop the business effectively. This report covers understanding the
importance of resources to business success, organization monitor the use of resources,
information about new technology used in organization, process of project management and how
organization work towards best practice.
Task 1
The resources needed by organisations in different business sectors of the economy
The resource are important aspects of business organization that are mainly uses operate
the business and increase the productivity in changing environment. The economy has been
divided in two three sectors raw material (Primary), Manufacturing (secondary), Services
industry that exists to facilitate to transport, distribution and sale of goods. In raw material sector
and Agro based industry use plant and animal based products, vegetable oil, cotton textile, dairy
products and telecommunication are are main resources. In manufacturing, production, human
resources, physical resources and others which are needed to consider while running a business
and increase the organizational performance in different economy (Ni and et.al., 2017).
The meaning of economy is involvement of different activities that can be used to earn
the money and getting profitability. In different economy there is needed to different resources
that can help to achieve the business task and increase understanding how an organization can
attain the profitability. The other economy is service which mainly involves number of activities
and functions that can be use to provide the higher productivity and profitability. In relation to
INTEL organization resource are human, marketing manager, products, finance, manufacturing,
and other equipment which are being uses by management in order to run their business.

Impact of shortfall in resources on business performance
To arrange and organise of resources is important as it helps to complete the task in given
period and attain the higher profitability. If there is shortfall in resources then it will affected the
organizational performance negatively as it can not operate the business, complete the project on
time. In other words, if there is scarcity of resources then different challenges can be faced by
organization as lower sales, customers goes towards other brand and low profitability (Piscicelli,
Ludden and Cooper, 2018).
Task 2
How and why resources must be monitored
Evaluation and monitoring the resources is the important task which is needed to be done
by management as it helps to increase the organizational performance. For all people and
organization resources must be monitored as it helps to identifying the most valuable and
efficient use of resources that guides to make strategic plan, design and implement the
programme for increasing performance. By monitoring the resources in an organization can
increase their sale and performance as it provide full guidance what need to do and how it can
attain the higher productivity. INTEL is multinational company that evaluate and monitor the all
resources which are available in organization and increase the sales as well as profitability. This
bring the new technology and products that influences number of customers and attain the higher
performance (Rosca, Arnold and Bendul, 2017).
What is meant by benchmarking and how this is used by organisations to monitor resources?
Benchmarking is considered as a tool that can be used by organization for comparing the
business process and performance with other enterprises. By comparing, management increases
their understanding that how they can increase their sales and profitability by managing all
functions and resources. In relation to INTEL, management are playing an important role as they
uses the benchmarking tool for comparing with other companies in similar field that helps to
increase the business performance and profitability. In this, management formulate the effective
planning for the purpose of monitoring all resources and functions that relates to business. This
helps to maintain a sustainable business by arranging all resources and activities effectively.

What is meant by performance indicators and how they are used by organisations to monitor
human resources?
Performance indicator is kind of tool and technique which can be uses to analysis the
individual's performance and managing the all task. This states financial and non financial
performance of employees who are working in an organization and provide the suggestion that
how performance can be improved. In relation to INTEL, key performance indicator is being
used by HR department of selected organization who conduct the performance analysis by
knowing individual task and managing the all resources. This states which are the financial
activities and non financial activities that can help to increase the sustainability by attaining the
competitive advantages. Management are also using the resources optimally which are available
in organization and complete the project on time by monitoring human resources. Moreover,
motivation is also provided by HR management by evaluating their performance which improve
the brand image and productivity (Heath, 2018).
Explain best practice in terms of resource monitoring and usage
In today's environment, enterprises are under pressure to deliver innovative,
technologically and advanced products with shrinking budget that can help to operate the
business and increase performance. Best practice is defined as method and technique that has
been generally accepted as superior to any alternatives as it provides higher benefits by
increasing performance. In relation to INTEL, management are using best practices for arranging
and managing the organizational resources which can help to complete the task and develop the
business performance in changing environment.
Assess resource monitoring in an organisation, recommending further developments and/or
corrective action
Evaluation and monitoring the resources in organization helps to increase the business
performance and it brings new technology and innovation that influences the number of people
and increase performance. This is needed for management to conduct the proper analysis and use
the resources properly as it can help to complete the task. With the uses of resources it can be
analysis that what action should be taken by top executives in order to operate the business and
attain the profitability. Therefore, it has recommended to INTEL organization to analysis the
resources which are having in organization and bring the new technology that increases the
business productivity in changing environment (Lèbre, Corder and Golev, 2017).

Task 3
Describe new technologies available to organisations
New technology is defined as set of productive techniques that offers a significant
improvement by establishing new technology for a given process and attaining the higher
profitability. If all functions and activities are organised by management then it will be
opportunity to grow their business. INTEL is large size multinational organization that is
providing new products by using new technology and innovation that can help to easily compete
with others and increase the business performance. The HR department and marketing
department of selected organization conduct the market analysis and make efforts to provide the
newly products and services which can help to increase sales and profitability. The new
technology such as Artificial Intelligence, Robotics process Automation, Edge computing,
Virtual reality and internet of thing that mainly uses to introduce the new product and increase
the business performance. By using new technology and innovation, HR department recruit the
technical person who can adopt the new technology and work effectively (Gu, Jiang and Wang,
2016).
Explain how new technologies are used by organisations
All most all organization which are operating their business are using the new technology
that can help to operate the all functions and activities. This is important for management to
understand the requirement of customers and what is running the trend then brings the new
products and services which can help to operate the business and increase the profitability.
INTEL is using new technology as it has made a series of announcement across PCs, smart
cities, and artificial intelligence. The management has analysed that sales and productivity of
organization is continuously decreasing due to having many competitor in changing environment
who sees towards new changes and environment that has affected the sales of selected business
(Bacq and Eddleston, 2018).
By using new technology INTEL announced new 10 nm products for PCs, servers and 5
G wireless access base station , the future of new chip design based on its 3D packaging
technology. This bring innovation and new model of Desktop and other equipment which
influences the number of customers and increase the organizational sales in competitive

environment. The customers who buys products from such organization feels happy and
satisfaction that increases business performance.
Explain how new technologies are impacting on organisations
In daily lives of people it has been seen that new technology become an intrinsic
component which is affecting the production and selling activities. The main reason of using
technology is to make the workings easier, less expensive, and quicker for all people by
communicating with others. INTEL is taking the new technology for the purpose of providing
new products and services in changing environment and use the resources optimally which
develop the organizational performance. The impacts of new technology on selected organization
are as explained:
Changing the way business communicate – Technology has changed the way people
used to communicate in the modern workplace. This became an important part of people's lives
as it introduces the different ways of communication such as smartphones, social networking
sites, chat apps and others which helps to communicate easily and increase the business
performance in competitive environment. This also helps to engage the people in business
activities whether they works outside of the office.
Keeping the all resources fully organized – Technology is the best practice which uses
by management to keep the all organizational resources organised. INTEL is using project
management software that can has impacted positively by building, delegating, reviewing and
assessing the task (Zhang, Huang and Wang, 2016).
This helps in cost management and saving – All company wants to improve their
productivity and profitability by completing task and becoming fiscal healthy as innovation is
proving to be more cost effective. The management of INTEL are using SaaS tool that can help
to eliminate manual handling of task by automating that helps to save the cost and increase the
organizational performance in competitive environment.
Assess the risks faced by organisations if they do not protect their technology
Hacking data, password, improver training to staff, not using technology optimally and
financial, Internet of thing vulnerability and system failure risk are associated with new
technology that can be arise if technology is not using by management and other people
efficiently (Jung and Takeuchi, 2018). As hackers can be assessed and copy personal data of

someone that could be dangerous for them. To reduce the risk, management should adopt new
technology and innovation optimally which increases performance.
Task 4
Identify and explain the key skills needed by a successful project manager
Key skills is defined as qualification and abilities of an individual which are uses to
complete the task and project in certain period of time. To complete the higher education and
attaining sustainable success in business environment there is need to have good knowledge and
skills of person as it provide the new understanding and knowledge which mainly uses to
complete task. In relation to INTEL, HR management has asked number of questions by
preparing notes for the part of selection process, there is need of good skills which helps to
understand and perform well (Lenka and et.al., 2018).
Describe the Three Stage-Project Cycle
Project cycle management is the process of planning, organising, coordinating, and
controlling the project which is assign to project manager for the purpose of completing the task
and developing the business performance. This is based on activities and functions that are
needed to perform and manage the activities. In relation to INTEL, project management has
asked the stages of project cycle that are as explained:
Initiation Phase – This is first stage which is uses by project management for identifying
business problem and opportunity that arises while running a project. This is important for
management to research the market and increase insights that what problem is facing by
management in case of operating and running a project. To deliver the best solution management
of INTEL has recruiting a good project manager who can analysis the needs of business
organization and project that needs to complete on time.
Planning phase – This is second stage which should be used by management to solve the
problem after identification as it helps to increase understanding different strategies and planning
which solve problems. The project management of INTEL has created the project plan by
deciding task, activities, time framework and dependencies. The management identified the
solution of problem which are facing by management in a project (Schaltegger and Burritt,
2018).

Implementation phase – This is another stage which is used to putting the project plan
in to motion and work of the project is performed. For project management it is important to
control and maintain the changes which are made by management in order to operate a business
and increase the profitability. The project should be completed on time after making changes as
it deliver the better quality of performance.
Closing phase – Once project has been started after identification of problem and
implementing changes then new requirement is closing the project on time which can help to
increase the business performance by handling project and documentation. In this stage project
management complete and close the project by delivering all performance and activities that
helps to attain the competitive advantages (Bizri, 2017).
Explain why it is important to identify and rank a project’s critical factors
This is important for all individual and group of people who has assigned to work and get
ranking as it states how well a project can be handled and managed properly. This helps to
increase the understanding of people and delivering them project timely so it can be complete
timely and develop the organizational performance and productivity. By giving the ranking to
project it will be easy to understand that in how much time period the project will be complete
and increase the business productivity.
Explain the tools used for managing projects
It has examined that tools and techniques should be uses by management for the purpose
of managing and controlling the project that increases the performance and productivity. There
are different tools which uses to manage a project that are as explained:
Kiss flow project- This can be explained as one powerful app and project management
software that are mainly uses by management to manage and handle a project. This tool checks
all the boxes with comprehensive suite of project management features (Morioka and et.al.,
2017).
Asana – This is also defined as project management tool that combines element of
project management, file storage, collaboration that helps to manage a project across a team
without email. For all individual and project management it is beneficial to use the Asana tool
that can help to break the work down in to task and assign to team members, organise task in to
projects for roadmap and get notified about project updates. This is cost saving tool that helps to
manage a long project by allocating in small task.

JIRA – This is defined as another project management tool that uses to control and
handle the project on timely basis. In other words, it is cross platform issues and bug tracking
software with advanced project management capabilities and features. By using this, project
management creates user stories, and issues, distribute task across software team, priorities and
discuss team work, centralise team communication and real time reporting which can help to
develop the understanding and complete the project timely by managing effectively.
Explain the purpose and importance of project evaluation and review
For a person and project management it is important to evaluate their project as it states
how organization it completing task and attaining the higher profitability. Project evaluation is
considered as systematic and objective assessment of an ongoing or completed project. The aim
behind this to determine the relevance and level of achievement of project objectives (Lowe,
2019).
Purpose of evaluating the project
To complete the assigned project : The main purpose of evaluation of project is to
identify problem which arises while running a task and completing a project on time. This make
sure the people that all the analysis process are completing timely and bring the higher
performance (Ranta, Aarikka-Stenroos and Mäkinen, 2018).
Provide long term benefits – Project evaluation is possible only when it is completing
activities and influencing the number of people who perform function in well manner. The
project management has decided the task and bring the new technology that can help to attain the
higher benefits. INTEL is taking long term benefits by evaluating the project and formulating
effective strategies which are important to complete the task.
Plan a project to manage or monitor resources using all the stages of project management
A Project plan to increase the sales and profitability of INTEL organization by launching
new audio and visual equipment a plan is formulated by management that can help to help to
operate the business continuously and increase the performance by managing all resources. The
resources which are available in organization are human resources, equipment, marketing
management, HR activities, funds, all equipment and others which are important to manage a
business and increase performance. To launch new model and increase sales different stages of
monitoring resources and completing project are as defined:

Initiation: This is the first stage which is being used by project management of INTEL to
analyse the problem and thinks about what new products and services should be introduce for
influencing number of customers.
Planning: This stage is uses to formulate the effective planning and strategies that can
help to operate the business by introducing new equipment and model of audio as well video
equipments which attracts the number of people and increase the business performance by
delivering better quality of products and services.
Implementation: The is another stage which is uses by people to manage the all
activities and changes for the purpose of increasing business performance. In this stage, project
management launch the new model by implementing changes which helps to increase business
performance and brand image.
Close initiation: This is ending stage which uses by project management of INTEL for
completing project and closing it that can help to increase the business productivity.
Task 5
Explain the terms excellence and quality and the impact of these concepts on organisations
Excellence is the wider term to understand as it brings the update information and work
efficiency by completing task in certain period of time. The meaning of excellence is to perform
all functions and activities in excellence ways that helps to provide the competitive advantages.
In relation to INTEL, HR management is being using the best practices for the purpose of
recruiting best employees by analysing their skills and abilities which can help to complete the
project timely and attain the higher profitability.
Quality is different from excellence as it mainly consider quality of products and services
which are providing by organization. The impacts of quality is positive if organization is
providing better quality and design of products that fills the customer expectation and manage
the performance (Kasemsap, 2016).
Describe tools and techniques that are used by organisations to ensure the quality of their
products and services
TQM -This means total quality management which is effective tool that are uses by
project management in order to complete project by ensuring quality of products and services.
This tool is uses by HR management and other employees of INTEL organization to ensuring

their clients that they are delivering better quality of products and services that will run for long
period (Li and et.al., 2016).
Six Sigma – This is another tool which uses to detecting the errors and managing the
quality of products and services that are providing by organization. The management of INTEL
are using this tool to increase organizational sales and profitability by arranging all resources and
reducing errors.
CONCLUSION
Resources can be considered as valuable activities of company that should be focused by
management for the purpose of running a business effectively and manage the good
performance. Different tools and techniques are uses to monitor and manage the organizational
project that helps to increase business performance. Quality and excellence is the important term
which uses by company in completion and providing satisfaction efficiently.

REFERENCE
Books and Journal
Fernando, Y., Jabbour, C. J. C. and Wah, W. X., 2019. Pursuing green growth in technology
firms through the connections between environmental innovation and sustainable
business performance: does service capability matter?. Resources, Conservation and
Recycling. 141. pp.8-20.
Ni, L., and et.al., 2017. Resource allocation strategy in fog computing based on priced timed
petri nets. IEEE Internet of Things Journal. 4(5). pp.1216-1228.
Piscicelli, L., Ludden, G. D. and Cooper, T., 2018. What makes a sustainable business model
successful? An empirical comparison of two peer-to-peer goods-sharing
platforms. Journal of cleaner production. 172. pp.4580-4591.
Rosca, E., Arnold, M. and Bendul, J. C., 2017. Business models for sustainable innovation–an
empirical analysis of frugal products and services. Journal of Cleaner Production. 162.
pp.S133-S145.
Heath, R. L., 2018. Issues management. The International Encyclopedia of Strategic
Communication, pp.1-15.
Lèbre, É., Corder, G. D. and Golev, A., 2017. Sustainable practices in the management of mining
waste: A focus on the mineral resource. Minerals Engineering. 107. pp.34-42.
Gu, Q., Jiang, W. and Wang, G. G., 2016. Effects of external and internal sources on innovation
performance in Chinese high-tech SMEs: A resource-based perspective. Journal of
Engineering and Technology Management. 40. pp.76-86.
Bacq, S. and Eddleston, K. A., 2018. A resource-based view of social entrepreneurship: how
stewardship culture benefits scale of social impact. Journal of Business Ethics. 152(3).
pp.589-611.
Zhang, J., Huang, H. and Wang, X., 2016. Resource provision algorithms in cloud computing: A
survey. Journal of Network and Computer Applications. 64. pp.23-42.
Jung, Y. and Takeuchi, N., 2018. A lifespan perspective for understanding career self-
management and satisfaction: The role of developmental human resource practices and
organizational support. Human Relations. 71(1). pp.73-102.
Lenka, S., and et.al., 2018. Exploring the microfoundations of servitization: How individual
actions overcome organizational resistance. Journal of Business Research. 88. pp.328-
336.
Schaltegger, S. and Burritt, R., 2018. Business cases and corporate engagement with
sustainability: Differentiating ethical motivations. Journal of Business Ethics. 147(2).
pp.241-259.
Bizri, R. M., 2017. Refugee-entrepreneurship: A social capital perspective. Entrepreneurship &
Regional Development. 29(9-10). pp.847-868.
Morioka, S. N., and et.al., 2017. Transforming sustainability challenges into competitive
advantage: Multiple case studies kaleidoscope converging into sustainable business
models. Journal of Cleaner Production. 167. pp.723-738.
Lowe, E. A., 2019. On the idea of a management control system: integrating accounting and
management control. Management Control Theory, p.63.
Ranta, V., Aarikka-Stenroos, L. and Mäkinen, S. J., 2018. Creating value in the circular
economy: A structured multiple-case analysis of business models. Journal of cleaner
production. 201. pp.988-1000.\

Kasemsap, K., 2016. The role of cloud computing adoption in global business. In Web-Based
Services: Concepts, Methodologies, Tools, and Applications (pp. 1611-1640). IGI
Global.
Li, W., and et.al., 2016. e-Leadership through strategic alignment: An empirical study of small-
and medium-sized enterprises in the digital age. Journal of Information Technology.
31(2). pp.185-206.