The resources themselves cannot lead to success, the wise attraction, creation and the use of resources can. However, although most resources can be attracted and augmented, there is one resource that cannot be augmented -- a CEO of any company has only 168 hours per week to deal with the company she/he manages. In view of this I wrote in 2002 an article "The most valuable resource of a firm" in which I explained using a survey of 1,000 CEOs what was the total amount of working load of CEOs, what were the differences in the total workload, how CEOs spent their working time for different types of activities and how it was related (or not related) to company's performance.
The service companies that require a high level of relationship with customers, unquestionably, the human is the main important resource. The diffusion of technology and knowledge together with the fact that the production resources are becoming more and more accessible makes this the differential factor in the success of a service company.
For business success, I think all resources are crucial. However, the degree of importance of each type can vary from one to another. According to my opinion, the human resources are the most important and developing such resource increases the firms’ capability and its ability for competitiveness. The financial resources comes in the second category, the scarcity of money affects business but this effect cannot be compared with the effect of scarcity of qualified workforce.
The resources themselves cannot lead to success, the wise attraction, creation and the use of resources can. However, although most resources can be attracted and augmented, there is one resource that cannot be augmented -- a CEO of any company has only 168 hours per week to deal with the company she/he manages. In view of this I wrote in 2002 an article "The most valuable resource of a firm" in which I explained using a survey of 1,000 CEOs what was the total amount of working load of CEOs, what were the differences in the total workload, how CEOs spent their working time for different types of activities and how it was related (or not related) to company's performance.
The right combination of available resources is crucial. And the importance of different resources varies accross industries and can also change during time.
All resources are equally important for the enterprise. And all these resources must be balanced among themselves. The shortage of any of them will lead to a disruption in the production process.
Man in the management referred as a Human resource is very important resource for any business organisation .Even in the automated world,No organsations can flourish without human resource.for instance,we may have automated aircraft but still it needs flight crew and assist the need of their boarded air travelers.
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