5. Managing Your Resources

Knowing your Resources

Resources make up the backbone of an organization, from human resources to facilities, cash flow and lines of credit, equipment, patents, proprietary and intellectual knowledge—all have to be selected carefully to ensure their value to the organization. Resources are what the organization uses to structure the operation and complete its strategic business objective. Managers are responsible for overseeing processes being performed within the operation that use resources, so how effectively they select and manage resources plays a critical role in the success of the organization.

Resources can vary greatly depending on the organization, how it’s structured, and the approach executive management ...

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