Resource Management Report: Strategies for Effective Utilization

This report provides a comprehensive overview of resource management within organizations, exploring various aspects such as the analysis of resource requirements across different sectors, including raw materials, equipment, human resources, and technology. It delves into the key requirements for effective resource management, emphasizing compliance, health and safety, environmental considerations, and employment practices. The report examines the monitoring and management of physical resources, the impact of resource wastage, and the business case for ethical and sustainable practices. Furthermore, it explores human resource planning, motivational theories, and methods for monitoring and improving employee performance. The report also investigates the use of physical resources against performance measures, analyzes employee data, and offers recommendations for enhancing overall efficiency in resource utilization.

Resource management

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1.1Analyseing different resource required for organisations in different sectors of the
economy......................................................................................................................................1
1.2 Key requirements to resource management in various sectors of the economy...................1
TASK 2............................................................................................................................................2
2.1 The use of physical resources is monitored and managed....................................................2
2.2 Impact of resource wastage..................................................................................................3
2.4 Business case for the use of ethical and sustainable resources.............................................4
TASK 3............................................................................................................................................4
3.1 The need for human resource planning in the workplace.....................................................4
3.2 Motivational theories are beneficial in motivating people....................................................5
3.3 Methods to monitor and improve employee performance....................................................5
3.4 Effectiveness of reward systems in different contexts..........................................................5
TASK 4............................................................................................................................................6
4.1 The use of physical resources against performance measures and procedures.....................6
4.2 Analysing data on employee performance............................................................................6
4.3 Effective use of human and physical resources....................................................................7
4.4 Recommendations to improve efficiency..............................................................................7
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Resources management in organisation studies are linked with effective utilisation and
development of resources when they are required in order to achieve success in their ventures.
The different resources are related with human skills, inventory, information technology and also
financial resources (Armstrong and Taylor, 2014). The resources which are available in economy
should be used effectively in order to complete the project and achieve business goals and
objectives. The undermentioned report is based on features of resource management, values of
effective use of resources, various ways by which human resources can be maximised and
monitoring effective use of resources.
TASK 1
1.1Analyseing different resource required for organisations in different sectors of the economy
The different types of resources which are needed by organisation for different sectors in
economy are evaluated below as:
Raw Material: This is one of the important resources for every business as the raw
material should contain quality so that customers will easily purchase their products thus
enhancing their overall sales and profitability ratios in order to achieve success in their
operations.
Equipments: The tools and equipments which are used for business operations should be
effective and these should be according to advanced technologies so customers can be satisfied.
Human Resources: It is most important factor in order to recruit skilled and talented
employees who can perform business operation in planned ways and develop innovative idea by
which firms can easily expand their business operations.
Technologies: The products should be developed according to new and advanced
technologies in order to manufacture products according to present needs and wants of all their
customers (Beardwell and Thompson, 2014).
Time requirements: All the activities should be completed in desired time that have been
allotted for the operations thus it helps in achieving success in their operations.
1.2 Key requirements to resource management in various sectors of the economy
The major requirements to managing resources in various sectors of economy are
evaluated below as:
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Compliance with rules and regulations: All the rules and regulations should be followed
which are required for management of all resources in effective and planned ways. The different
code of practices should be followed so that all activities will be carried out according to the
plans thus firms will attain growth and success in their overall business operations.
Health and Safety: There should be main focus of employees in order to use those
materials which are not harming health of employees and they should also ensure that resources
are utilised in effectual and planned ways thus firms will attain success in their operations.
Environmental aspect: There should be main focus on environment factors as the
products should not harm the environment and all the waste products should be disposed off in
effective ways so that will not affect the environment aspects.
Employment: Management must ensure that there should be diversity at work place and
members of different beliefs and cultures should work together in order to complete their
business operations in effectual and planned ways (Boxall and Purcell, 2011).
Storage: All the goods should be stored at those places which are safe and these should be
protected so the goods will not be damaged thus the cost will be saved which would have wasted
on renovating damaged products.
TASK 2
2.1 The use of physical resources is monitored and managed
The use of all the physical resources are monitored and managed with the help of
following factors which are evaluated below as:
Buying and ordering systems: The tools which are used for ordering the products so that
customers can easily purchase them should be effective. Resources should also be utilised in
effectual and planned ways in order to carry out all their operations in effective and planned
ways.
Schedules: All activities should be executed and carried out according to their schedules.
The operations which are important should be performed on first priority so that main goals and
business objectives can be easily achieved.
Just in Time: It is the process by which all the waste factors are minimised in order to
reduce the overall cost of operations so that firms can achieve success in their business ventures.
Stock control system: These systems are formulated in order to manage all the stocks
and inventory so firms can achieve success and growth in their business operations. If the stocks
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are managed effectively then it is beneficial at those time when the demand of customers
increases.
2.2 Impact of resource wastage
If the resources which are available in the economy are not effectively utilised then the
resources will be wasted that would have impact on growth and success for business which are
evaluated below as:
If the resources are not properly utilised then it results in increasing their financial cost
thus their overall profitability will be reduced and firms will have to pay more money for their
operations in order to use the resources.
The image of firms will be destroyed thus they will not be able to satisfy their customers
and their sales will automatically declines and they will not be able to earn revenues from their
business operations (Brewster and Hegewisch, 2017).
There is no customer footfalls as the products are not manufactured according to new and
advanced technologies and also the resources are not utilised in effectual and planned ways.
As there is wastage of resources so firms are not able to implement advanced
technologies at work place as they are not able to earn high profitability from their operations.
2.3 The costs of high profile technological failures
If there is any failure of technological equipments then firms have to spend high amount
of money in order to repair the machinery so that products can be manufactured according to
advanced technologies.
If there is any failure in computer systems then firms will not be able to Keep record of
their stock and also monetary transactions thus there will be a dis-balance in their overall process
and they will not be able to contact with the customers who are currently buying their products.
There fire service systems will not be controlled as there is failure in machines and if
there is any situation which is uncontrollable then it may result in loss of resources thus firms
will not be able to achieve success in their operations.
MOD is one of the largest public procurement organisations and these are developed in
order to handle all the complex problems and the need for advanced technologies in order to
effective utilise all the resources in effective and planned ways which are available in the
economy. If there is any failure in machinery then then the complex problems will not be solved
thus firms will not be able to achieve growth in their operations.
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2.4 Business case for the use of ethical and sustainable resources
The business case is developed for the operations of new business which are executed in
order to use the resources which are available in the economy in effectual and planned ways thus
they will attain growth and success in their operations.
There is new coffee shop opened which is names as one in the town and they are offering
quality coffee products to all their potential customers. The place is having a friendly
environment where children's can easily play and adults can spend their free time in a relaxing
environment. These business are focusing on effective utilisation of all the resources which are
available in economy in planned and effective ways. The profile of business is they are dealing
in coffee products and it is mostly liked by all age groups thus they can easily earn high
profitability from their operations.
One in town coffee shops are gaining competitive advantages from other rivalries as they
are providing coffee products to all their potential customers at economical prices thus customers
can easily consume their coffee as it is according to their budgets. It is an important factor as it
help in attracting customers towards their products thus their sales and profitability are also
enhanced (Meredith Belbin, 2011).
The ethical factors are linked with their products as they should not harm the
environment and should follow all policies and procedures which are required in order to achieve
success in their operations. All the waste should be disposed off in effective ways and this is an
factor by which they will attain growth and success in their overall business ventures. If firms
apply all these policies in their working then it result in sustaining their positions for long time
durations at market places thus they will achieve growth and success in their overall business
operations.
TASK 3
3.1 The need for human resource planning in the workplace
At each business organisation there is effective need of human resource planning as it
results in hiring skilled and talented employees who can develop new and innovative ideas by
which firms can achieve growth and success in their overall business operations. Employees
should be guided about what plans and policies had to be followed by them so they could
achieve growth and success in their operations. They should work in order to achieve goals and
objectives of business. Human resource planning also results in identification of the present and
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future needs of organisation thus goals can be easily achieved. This is an important factor by
which the working will be carried out according to plans and policies thus firms will achieve
success in their operations.
3.2 Motivational theories are beneficial in motivating people
The motivational theories which are used by Managers are beneficial in order to motivate
employees at work place so they will work effectively in order to achieve all their set goals and
targets. Maslow need theory of motivation states that all the needs of individuals are stated in the
form of pyramid and firstly person had to fulfil their basic need then they had to move towards
other needs like safety, self actualisation etc. These theories are beneficial for firms as it results
in retaining their employees for long time as they are motivated thus goals and objectives of
business are also easily accomplished.
3.3 Methods to monitor and improve employee performance
There are different methods used by mangers in order to monitor and improve
performances of employees which are described below as:
Key performance indicators are those factors which determines how firms can achieve
their business goals and objectives in effective and planned ways. If the performance is higher
then all the employees are given rewards according to their performance and if the KPI level is
lower then the different departments are targeted like sales and marketing so they can easily
enhance their sales ratios (Jiang and et. al., 2012).
Appraisal: This is an important factor which helps in motivating employees according to
their working performances so they will develop innovative ideas by which firms can easily
achieve growth and success in their operations.
Equal Pay: All the employees should be treated equally at work places there should not
be any differentiation between the employees thus they should be given equal pay grades. This is
beneficial factor which helps them to carry out their working with full efficiency and
effectiveness in order to achieve success for firms.
3.4 Effectiveness of reward systems in different contexts
Rewards are best tools in order to motivate employees so they will achieve their targets in
desired time that have been allotted to them. Rewards helps in increasing productivity at work
place as employees will be working with their efficiency as they are happy working there
because mangers are monitoring their performances.
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Employees should be given bonuses for the extra work that is done by them and this is an
important factor as employees are given respect and they are also valued ta work place. Bonus
can be in different form like extra pay grade, comp off etc.
Employees should be promoted at higher level according to their working as it results in
giving values to employees and they will develop new and innovative ideas by which business
can easily expand their overall operations. This results in achieving growth and success for firms.
TASK 4
4.1 The use of physical resources against performance measures and procedures
The physical resources can be used with the help of performance measure and procedures
which are evaluated below as:
The budgets should be develop for the activities according to the financial values which
they so they can easily carry out their operations and achieve success in their overall business
operations.
The performances of employees should be measured in relation to the targets that have
been achieved by them. This is an important factor which motivative employees in order to work
effectively and organisation achieve growth and success in their overall operations.
Resources are most valuable factor for business and these should be used effectively so
products can be manufactured according to needs and wants of customers thus it helps in
enhancing profitability of firms (Wright and McMahan, 2011).
Managers should ensure that all the resources are utilised in effectual ways so there will
be no wastage of any resources and firms will achieve growth in their overall business
operations.
4.2 Analysing data on employee performance
The feedback of customers should be taken into account and plans should be developed
in order to solve the difficulty which is faced by them this helps in satisfying employees and they
will enhance their overall sales and profitability ratios.
The sales ratios of customers should be analysed and plans should be developed in order
to make improvements in their performances and this result in attracting customers and they will
buy their products thus enhancing their overall profitability ratios.
The repeat sales process should be analysed and there should be training given to
employees so they can easily achieve their sales target thus enhancing growth of business.
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4.3 Effective use of human and physical resources
There should be main focus that all the physical and human resources should be used in
effectual and planned ways so there will be no wastage of any resources and firms will achieve
success in their overall business operations.
Employees should use their skill and capabilities in order to effectively carry out all the
assigned task that have been allotted to them. This an important factor which results in
expanding their overall business operations all around the globe thus they will achieve growth in
their operations.
The raw materials should be stored at those places which are safe so these will not be
damaged and firms can easily satisfy all their customers who will be buying their products.
4.4 Recommendations to improve efficiency
The efficiency of business can be improved if they are making plans in order to order to
manufacture goods according to needs and wants of customers. This is an important factor which
result in enhancing profitability of business thus firms will attain growth and success in their
overall business operations (Wright and McMahan, 2011).
Employees should be motivated in order to achieve goals and objectives of business thus
firms will achieve success in their ventures and it results in enhancing growth and profitability of
business.
CONCLUSION
From the above report it has been concluded that all the resources which are available in
the economy should be utilised in effectual and planned ways in order to achieve success in their
operations. There should be techniques applied like just in time as they are beneficial in order to
reduce waste thus their overall cost will be reduced and they will earn high profitability from
their operations.
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REFERENCES
Books & Journals
Armstrong, M. and Taylor, S., 2014. Armstrong's handbook of human resource management
practice. Kogan Page Publishers.
Beardwell, J. and Thompson, A., 2014. Human resource management: a contemporary
approach. Pearson Education.
Boxall, P. and Purcell, J., 2011. Strategy and human resource management. Palgrave Macmillan.
Brewster, C. and Hegewisch, A. eds., 2017. Policy and Practice in European Human Resource
Management: The Price Waterhouse Cranfield Survey. Taylor & Francis.
Meredith Belbin, R., 2011. Management teams: Why they succeed or fail. Human Resource
Management International Digest. 19(3).
Jiang, K., and et. al., 2012. How does human resource management influence organizational
outcomes? A meta-analytic investigation of mediating mechanisms. Academy of
management Journal. 55(6). pp.1264-1294.
Wright, P. M. and McMahan, G. C., 2011. Exploring human capital: putting ‘human’back into
strategic human resource management. Human Resource Management Journal. 21(2).
pp.93-104.
Van Dyne, G. ed., 2012. The ecosystem concept in natural resource management. Elsevier.
Berman, E. M., and et. al., 2012. Human resource management in public service: Paradoxes,
processes, and problems. Sage.
Huselid, M. A. and Becker, B. E., 2011. Bridging micro and macro domains: Workforce
differentiation and strategic human resource management.
Nabrzyski, J., Schopf, J. M. and Weglarz, J. eds., 2012. Grid resource management: state of the
art and future trends (Vol. 64). Springer Science & Business Media.
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