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Brilio.net - In an increasingly competitive business world, a company's success is highly dependent on its ability to manage the various resources it has. Company resources are assets used to achieve organizational goals, improve operational efficiency, and create competitive advantages in the market. Every company, whether it is a small company or a large corporation, has various types of resources that must be managed well to achieve long-term success.
A thorough understanding of the various types of company resources is not only important for managers and executives, but also for all employees. By knowing the various types of resources available and how they contribute to the overall operation of the company, each individual in the organization can play a more effective role in achieving common goals.
Understanding the various resources owned by the company provides a comprehensive picture of the complexity of modern business operations. Each type of resource plays a vital role in creating value and ensuring the sustainability of the company.
Brilio.net reported from various sources on Thursday (5/9), the following are the resources owned by the company, explanations, functions, and examples.
company resources
2024 Freepik.com/Various Sources
Human resources (HR) refers to all individuals working within a company, including employees, managers, and executives.
Function:
- Running the company's daily operations
- Taking strategic decisions
- Develop new products and services
- Interact with customers and other stakeholders
Example:
- Production employees in the factory
- Sales and marketing team
- Department manager
- CEO and board of directors
Financial resources include all financial assets owned by a company, including capital, income, and investments.
Function:
- Funding the company's daily operations
- Financing business expansion and development
- Pay employee salaries and other operational costs
- Investing for long-term growth
Example:
- Cash in bank account
- Stocks and bonds
- Income from sales of products or services
- Loans or credit from banks
Physical resources are tangible assets that a company owns to run its business.
Function:
- Provide a place for business operations
- Facilitate the production of goods or provision of services
- Support logistics and distribution activities
- Store inventory and raw materials
Example:
- Office or factory building
- Production machinery and equipment
- Vehicles for transportation and distribution
- Inventory of finished products and raw materials
Technology resources include all the hardware, software, and information systems that a company uses.
Function:
- Improve operational efficiency
- Facilitate internal and external communication
- Support decision making with data and analysis
- Automate business processes
Example:
- Computers and mobile devices
- Project management software
- ERP (Enterprise Resource Planning) system
- Network infrastructure and IT security
Intellectual resources are intangible assets related to knowledge, creativity and innovation within a company.
Function:
- Creating competitive advantage
- Protecting corporate innovation
- Building company reputation and brand
- Drive the development of new products and services
Example:
- Patents and copyrights
- Trademark
- Trade secrets
- Employee knowledge and skills
Organizational resources include the structure, culture, and processes that exist within the company.
Function:
- Facilitate internal coordination and communication
- Defines how the company operates
- Forming a work environment and company values
- Support decision making and strategy implementation
Example:
- Organizational structure
- Company culture
- Performance management system
- Standard operating procedures (SOP)
Relational resources include a company's relationships with external parties such as customers, suppliers, and business partners.
Function:
- Building customer loyalty
- Ensure smooth supply chain
- Opening up new business opportunities
- Improve the company's reputation in the market
Example:
- Customer database
- Long term contracts with suppliers
- Strategic partnerships with other companies
- Good relations with regulators and government
(brl/psa)
