Resource Management: Analysis of Resource Needs and Practices

This report offers a detailed analysis of resource management within the context of three diverse businesses: Stems (agricultural), AluPan (manufacturing), and Spirus (call center). It begins by identifying the specific resource requirements of each business, encompassing physical, human, intellectual, and financial resources. The report then emphasizes the crucial importance of resource management for maximizing efficiency, strategic investment, problem identification, transparency, and control. It explores internal and external factors influencing resource management, such as business nature, resource availability, budget, staff skills, productivity, business environment, competition, regulations, economic conditions, and technological advancements. Furthermore, the report evaluates the monitoring and management of physical resources, measures to reduce wastage, the costs of technological failures, and the use of ethical and sustainable resources. It assesses the need for human resource planning, methods for improving employee performance, and the effectiveness of reward systems. Finally, it examines the data needed to review employee performance and the utilization of physical resources, concluding with an evaluation of overall resource management practices. This report, contributed by a student, is designed to provide valuable insights into resource management strategies.

Resource Management

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
AC 1.1- Resource requirements of three profiled businesses......................................................1
AC 1.2- Importance of resource management for the organizations...........................................2
AC1D1: Factors which impact resource management.................................................................3
TASK 2............................................................................................................................................4
AC 2.1: Monitoring and management of physical resources.......................................................4
AC 2.2: Measures to reduce the impact of resource wastage......................................................5
AC 2.3: Assessment of costs of high-profile technological failures............................................5
AC 2.4: Assessment of business case for the use of ethical and sustainable resources...............6
AC2M1: Evaluation of high-profile cases of wastage of resources............................................6
TASK 3............................................................................................................................................7
AC 3.1-Assessment of need for human resource planning..........................................................7
AC 3.2- Evaluation of the methods for monitoring and improving employee performance.......8
AC 3.3- Effectiveness of reward systems....................................................................................9
AC3D1- Impact of employee engagement in an organization...................................................10
TASK 4..........................................................................................................................................11
AC4.1- Data needed to review and make judgements on employee performance....................11
AC 4.2- Data needed for reviewing and making judgements on the utilisation of physical
resources....................................................................................................................................12
AC4M1- Evaluation of resource management practices...........................................................13
CONCLUSION..............................................................................................................................14
REFERENCES................................................................................................................................1

INTRODUCTION
Resource Management refers to the the techniques and methods which are adopted so
that the organizations are able to efficiently manage their resources (Brewster, 2017). Resources
which are available in a particular organization are quite limited in nature. Thus the firms need to
ensure that they are used optimally so that the required efficiency and effectiveness can be
achieved easily. This is an important filed for which the management requires practical
application of the appropriate techniques and should make use of the ways through which the
desired level of efficiency and effectiveness can be achieved. In different companies it can be
applied in a particular manner as desired by them for their work and their specific needs and
requirements. The management of the companies has to excel in this because this will enable
them to optimize and use the resources optimally for achieving the outcomes. In this assignment,
specific analysis will be made on analysis of resource requirements, importance of resource
management, evaluation of use of resources. Additionally, focus will be made on efficient use of
human resources and judgements on the efficient use of resources within the company.
TASK 1
AC 1.1- Resource requirements of three profiled businesses
In this discussion, there will be a detailed focus made on the three businesses dealing in
diverse sectors. The resource requirements of these businesses are as follows-
Stems- Stems is an agricultural business. It deals in the primary sector. It is a family
business in which seasonal workers are hired as per the needs and requirements. The resource
requirements of this firm is as follows-
 Physical resources- As Stems is looking forward to diversify its range of crops it needs
different types of physical resources for ensuring the same. It will help the company as it
will be able to produce more crops in the peak season to earn profits.
 Human resources- In the peak season, Stems requires the services of seasonal labour
through which it is able to meet its various requirements. Thus this will help the
organization in the proper management of its crops.
 Intellectual resources- These are the resources which are used in the businesses so that
they can assess their intellectual talent in the right manner. In the context of Stems, these
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resources can be quite helpful so that the company is able to achieve success in the
future.
 Financial resources- These are the resources which can be quite helpful so that the
organizations are able to assess their financial capacity in the right manner. Therefore for
Stems the requirement is to make sure that the financial resources are used in the right
manner.
AluPan- AluPan is a small private company which deals in products related to panels of
ships, planes and rail cars. Aluminium is used by the company for this purpose. The firm is
earning decent profits. However in order to grow in the future time period there is a requirement
to ensure proper resource management so that the company is able to achieve a distinct strategic
edge over competitors. The resources required by it are-
 Financial resources- Financial resources are required by AluPan so that it is able to
make sure that it provides good products to its customers and clients.
 Physical resources- The right materials are needed by AluPan so that it is able to
manufacture the goods for its customers and clients.
 Information resources- These resources are required by AluPan so that the information
can be transmitted in the right manner. In this way the company will be able to function
in a proper manner.
 Human resources- They are required by AluPan so that they are able to manage their
work in a proper manner. In this way the firm will be able to function properly.
Spirus- Spirus is a call centre which provides customer care services for different types
of organizations. To provide the services required by its clients it needs the following resources-
 Technological resources- They are needed so that good services can be provided to the
clients. With the technology it is possible to provide these services.
 Human resources- Talented people are required by the company so that it is able to
provide good services to its clients. Thus it needs to employ efficient workers.
 Financial resources- Spirus requires making the use of financial resources because in
this way they will be able to make sure that they can achieve their relevant goals and
objectives.
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 Physical resources- Any organization requires making the use of physical resources
available with it so that it is able to maximize its capability to achieve. Thus this is done
by Spirus also.
AC 1.2- Importance of resource management for the organizations
There is an importance of resource management within the organizations (Chams and
García-Blandón, 2019). This is due to the following reasons-
 Maximization of efficiency- Resource management is helpful for the companies so that
they can maximize their level of efficiency (Clark and et.al., 2016). If the organizations
properly use these resources then they will be able to achieve their desired outcomes.
Stems, AluPan and Spirus should ensure this for better management of their resources.
 Investing in the projects- If there is proper resource management within the companies
then they can invest in the right projects (Cooke, 2018). This will help them in
maximizing their profits. It is required that the management of Stems, AluPan and Spirus
is able to understand the importance of investing in the right project.
 Identification of problems- When the organizations invest in different types of projects
they are bound to face certain types of problems. Thus with resource management they
can make sure that they are able to identify these problems easily and therefore use the
necessary techniques to rectify them. The managers of Stems, AluPan and Spirus are able
to identify the different types of problems quickly.
 Transparency in the process- When the firms use resource management they can bring
the desired transparency in their various processes. This can help them a lot in indulging
in strategic planning effectively. The management of Stems, AluPan and Spirus can bring
the required transparency in their processes.
Control of projects- With the use of resource management, the firms can hope to gain
the required control over their various projects (Delery and Roumpi, 2017). The managers of
Stems, AluPan and Spirus can hope to bring the required control over their projects if they use it
in the correct manner.
 Avoiding unforeseen hiccups- When a project is initiated, it witnesses different types of
problems and issues. These can be unforeseen can cause losses to the organization.
Therefore there needs to be a right approach in resource management from the
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organizations so that they are able to effectively manage the resources. The management
of Stems, AluPan and Spirus should make sure that they avoid them.
 Avoiding overallocation of resources- In the initiation of projects, there can be
overallocation of resources as well. Thus there needs to be a correct use of resources by
efficiently allocating them according to the requirements of different types of tasks.
Therefore the managers of Stems, AluPan and Spirus should make sure that this
overallocation of resources can be avoided.
 Safety net- Using the resource management makes sure that there is a safety net which is
available for the different companies. Thus this helps the management of Stems, AluPan
and Spirus to develop a a safety net effectively.
Resource Management can be achieved within the organizations by ensuring the
following-
 Identification of resources- The resources which are to be used within the organizations
can be identified quickly by the organization if they practice resource management. This
can create an advantage for Stems, AluPan and Spirus.
 Optimization of resources- The resources in the companies can be optimized
effectively. This is an advantage for the management of Stems, AluPan and Spirus.
AC1D1: Factors which impact resource management
There are different types of factors which can create an impact on the resource
management within the organizations. These factors are described as follows-
Internal factors-
 Nature of business- The nature of business which is conducted within an organization
creates an impact on the resource management. Therefore the organizations are required
to take this factor quite seriously.
 Availability of resources- The availability of resources within the organization also
creates an impact on the resource management. Thus the companies should make sure
that they have good availability of the resources.
 Budget- It is important for the organizations to consider their budget so that they are able
to manage the usage of their resources in the right manner. Thus in this way the firms will
be able to make sure that they are able to use their resources correctly.
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 Existing staff skills level- It is crucial for the firms to facilitate an improvement in the
existing staff skills level so that they can meet the needs and requirements of the market
in the right manner. In this way the organizations will be able to achieve their goals and
objectives. Also higher level of skills of the staff will help the firm in managing their
resources correctly.
 Productivity- The internal level of productivity has to be considered by the firms. This
helps them in using their resources in the right manner because a higher level of
productivity will mean that the organizations are able to manage their resources correctly.
External factors-
 Business Environment- The Business Environment which is quite dynamic and ever-
changing in nature is an important factor for the organizations. Therefore the companies
are required to consider this factor.
 Competition- Competition which is prevailing in the market can create an impact on the
resource management in the organizations. Thus the companies must make sure that they
consider this factor.
 Regulations- The different types of regulations are required to be considered by the
organizations. Thus it becomes very crucial from the point of view of the firms that they
can consider them for their resource management which will be quite helpful in ensuring
the achievement of goals and objectives.
 Economic conditions- The economic conditions which are prevailing in the economy
have to be considered by the firms so that they are able to manage their resources
accordingly. Thus from the point of view of the organizations it is quite important to
consider them in a highly effective manner because they have to increase or decrease the
usage of resources accordingly.
 Technological advancements- The technological advancement are quite important to be
considered for resource management because technology is dynamic in nature and can
change quickly. Thus it is crucial from the point of view of the firms that they are able to
attain their various goals and objectives effectively.
 Competition- Competition should be considered by the firms for the purpose of their
resource management. Therefore it is important from the point of view of the
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organizations that they consider it so that they are able to manage their resources
effectively and efficiently.
Positive issues-
 Improvement needed internally- If the organizations require improvement internally
then this can lead to higher-level of productivity which helps in better management of
resources.
 Skill development needed for workers- If the firms require that their workers have to
develop their skills then this can help in raising their efficiency and effectiveness level
leading towards better management of resources.
 Training session required for optimum utilization of resources- Training sessions are
required for the workers so that they are able to identify the way optimum utilization of
resources can be made effectively and efficiently.
 Efficiency and Effectiveness needed for properly using the resources- There is a
requirement for the organizations to ensure that the efficiency and effectiveness level of
the workers can be enhanced. This creates an issue which needs immediate redressal.
Negative issues-
 Mismanagement of resources- If in the organizations there is a mismanagement of the
different resources then this can lead towards higher wastage of resources.
 Improper use of resources- If in the firms the resources are not being used properly then
this can create an impact on them by affecting their profits.
 Wastage of resources- If the resources are wasted in an organization then this can create
problems and issues for the firm because it will affect the financial situation as well as the
processes and functioning of the firm.
 Improper handling of resources- If the resources are not handled properly then this can
create an impact on the organizations because this will result in the processes not working
properly.
Justification- Both of thee positive and negative issues should be considered by the
organizations for managing their resources in the right manner. These issues have to be
addressed so as to facilitate better resource management.
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TASK 2
AC 2.1: Monitoring and management of physical resources
The physical resources which are available within a business have to be used in the
correct manner by the business organizations. Their monitoring and management should be
ensured by them by making sure of the following factors-
 Identifying the availability of physical resources- The physical resources which are
available with the organizations have to be identified by them (Ghobaei-Arani, Souri and
Rahmanian, 2019). In this way they can make sure that they are able to use them in the
correct manner without any problems and issues. They can find out the tasks and
processes where these physical resources can be used in the right manner.
 Controlling the usage- The firms can ensure that they are able to control the usage of the
physical resources. Thus in this manner they will be able to achieve the desired outcomes
easily.
 Proper monitoring- Proper monitoring needs to be done. In the organizations this will
make sure that the resources are utilized in a judicial way. Therefore in this manner the
companies will be able to achieve the sustainable success without problems and issues.
 Facilitation of improvements- In the physical resources the required improvements can
be made by the companies. Thus in this way the firms will be able to make sure that they
are able to improve a lot using the correct techniques and methods.
Positive issues-
 Lack of proper monitoring- There can be lack of proper monitoring in the physical
resources. This can create a positive issue in the company and thus this can result in the
management taking action to tackle this particular problem in an effective manner.
 Lack of efficiency- There can be lack of efficiency in the monitoring of physical
resources from the management. This can lead towards creation of positive issues in the
company because the management will take an action for raising the efficiency level.
Justification- These are positive issues because they can be rectified effectively when the
management makes the use of appropriate techniques and methods. For Lack of proper
monitoring the managers can ensure that they increase their level of control and therefore
monitor the physical items effectively and efficiently. Also for Lack of efficiency the managers
can ensure that they are able to enhance the level of efficiency by providing training for workers.
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Therefore these issues have to be avoided. Thus while using physical resources these positive
issues can be faced by the organizations. Thus the management has to frame an appropriate
strategy which can be used by it so that these issues are resolved and the level of efficiency and
effectiveness can be enhanced.
Negative issues-
 Losses- Lack of proper monitoring of physical resources can result in losses for the
organization. Therefore this can lead towards creation of negative issues for the company
because this can impact their overall level of profits.
 Mismanagement of stock items- When the physical resources are not monitored
properly this can result in the mismanagement of the various types of stock items. Thus in
the context of the company this can create a lot of impact on the profits.
Justification- These are negative issues because these can affect the financial situation of
the company. Therefore for the managers it is important that they properly monitor the physical
resources so that the losses due to improper monitoring can be avoided. Also its is crucial for
them to ensure that the mismanagement of stock items does not happens due to improper
monitoring of physical resources. Thus it is important to avoid these issues. While dealing with
the physical resources these negative issues can be faced by the firms and can impact the ability
of the management to deal with them. Thus they have to be addressed quite quickly by the
managers.
Therefore, it can be said that for the firms it becomes highly crucial and important that
they are able to address these positive and negative issues effectively and efficiently which will
help them to manage the resources in the right manner. This will help in making a better use of
the different types of resources. Thus in this way the goals and objectives can be achieved.
AC 2.2: Measures to reduce the impact of resource wastage
When the resources are used within the organizations there is also some wastage which
results from their usage. The focus of the managers in the organizations should be on the
adoption of appropriate techniques to reduce such wastage of resources. The measures which can
be taken by them for this purpose are as follows-
 Identification of requirements- It is important for the businesses to make sure that they
identify the requirements of their different departments (Gupta and et.al., 2017). In this
way they will be able to make sure that they are able to allocate the resources
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accordingly. Firms need to assess the requirements which their different departments like
Production, Finance, HR and Marketing have regarding resources and try to fulfil them
by ensuring the appropriate use of the resources available with them.
 Allocation of resources- In the companies after the requirements of the businesses have
been identified the resources are required to be allocated (John and Taylor, 2016). Thus
in this manner they will be able to make sure that the resources are allocated in the
correct manner. Firms have to concentrate on ensuring that the proper allocation of the
resources is made so that they are able to ensure that they can achieve their goals and
objectives effectively and efficiently and can prevent the wastage of resources. This
should be done according to the needs and requirements of the departments.
 Use of correct techniques- The resources are required to be used with the correct
techniques so that they are effectively managed (Kianto, Sáenz and Aramburu, 2017).
Therefore in this manner the organizations will be able to utilize them correctly.
Organizations need to make the use of appropriate techniques which will be quite helpful
for them in ensuring that they can use their resources in the best manner thus helping in
the achievement of goals and objectives.
 Optimization of resources- The resources are required to be optimized for making their
best use. The companies will be able to make sure that they reduce the wastage of
resources in this manner. For this purpose it becomes important that the different
resources are optimized according to the needs and requirements of the departments
which will help them a lot in attaining their goals and objectives.
Evaluation- All of the above methods are highly suitable for the company so that they
are able to reduce the wastage of the resources in a highly effective manner. If the management
of the company takes the right steps at the right time it can help them a lot in reducing the
resource wastage and ensuring that they are able to attain their various types of goals and
objectives without facing problems and issues. Therefore, the requirement from the company is
that it should be able to achieve its goals and objectives through adopting the right methods and
techniques in a proper manner.
The requirement from the managers of the organizations is that they use these methods in
the right manner so that the wastage of resources can be reduced effectively and efficiently. In
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this way the firms will be able to make sure that the use of resources is made in a proper manner
and thus the level of efficiency and effectiveness can be raised.
The measures which are required to be taken by the managers for addressing the issue of
resource wastage vary according to the organizations. Therefore it becomes quite important that
the use of appropriate techniques can be made by the firms so that this issue can be resolved.
This will help a lot in the achievement of the goals and objectives.
AC 2.3: Assessment of costs of high-profile technological failures
In the past, there have been multiple instances when the technological failures have
resulted in huge costs for the organizations. The costs associated with these technological
failures are as follows-
 Loss of production- These type of failures can result in loss of production for any
manufacturing organization. This is so because the production nowadays is heavily
dependent on the use of technology.
 Lack of proper use of labour- When these types of failures occur in the companies this
can result in the lack of proper use of labour (Luong and et.al., 2017). This is so because
the labour is required to be used in a correct manner and the failure of technology leads to
problems and issues in doing so.
Example- An example of a high-profile technological failure is Samsung Galaxy Note 7
in which there was both a loss of production and lack of proper use of labour. The company
therefore had to recall several units of the phone for ensuring the safety of the customers.
Reason for the failure- The reason due to which Samsung Galaxy Note 7 failed was
overheating of its battery. Therefore it can be said that the processes which were used for the
purpose of designing of the smartphone were not efficient enough which caused this defect. This
led to creation of an impact on the reputation and goodwill of the company and thus affected its
brand image in front of the customers.
AC 2.4: Assessment of business case for the use of ethical and sustainable resources
International Meducare is a not-for-profit organization. Therefore it needs certain
resources so that it is able to sustain. Therefore its managers are required to make use of ethical
and sustainable resources because of the following reasons-
 Labour-intensive organization- International Meducare is a labour-intensive
organization. Therefore as a result it has the requirement of certain type of resources.
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