Managing Organisational Resources - Report Writing Management Assignment Help

Assignment Task:

Instructions for Candidates: 

1. Please read this excerpt carefully and answer the questions that follow: 

Taylor (2020), observed that in any organisation, there is the need to utilise available resources for better performance in pursuit of the goals and objectives of the firm. According to Stewart (2018), the term, management of organisational resources refers to proper utilisation of such resources as assets, information, technological, human and financial resources. How to manage organisational resources remains one of the fundamental organisational management functions (Bates, 2016). Many organisations fail to reach their performance targets due to lack of proper management of their own resources. In this excerpt, please allow me to briefly explain how to manage organisational resources. 

Human Resources -

Human resource is a key resource in any organisation (Taylor, 2020). As such, the motivation of the employees in an organisation is essential in improving productivity and performance results. Employee motivation can be achieved by giving good remuneration, medical allowances, job enrichment, job enlargement, giving timely feedback, employee empowerment, employee engagement and bonuses, among others (Storey, 2016). It is fundamentally established that employees embrace a company that caters for their well-being as people. Mutual and cordial relationships between the employer and the employees translate into better performance. Further, proper planning in an organisation greatly contributes to productivity of the organisation, since it will be able to put all organisational resources to full- employment and productivity. Planning ensures that the staff are not overwhelmed with tight schedules and assigned duties. Therefore, investment in a policy framework that outlines a working plan for the employees would ease their frustrations. 

Time Resources -

Time and human resources can be said to be the most crucial resources in the organisation (Davies, 2018). Time is a critical resource. If not properly managed in an organisation, it the organisation can miss performance targets and productivity will decline. Organisations should ensure that workers are well equipped to manage time in their duties. Some of the ways time can be managed in an organisation include but not limited to ensuring that there is a routine measure of time by workers and having a master calendar vis-a-viz individual performance and team performance in the firm (Bates, 2016). 

Financial Resources –

According to Wood (2015), an organisation can also establish a proper budgetary plan to manage its financial resources. Production, operational budgets, capital budgets and many other types of budgets are established to clog down funding-gaps identified and costs are tracked and documented during implementation and operations. This allows the organisation to allocate resources to the most important activities and the rest can be invested to improve the organisation’s revenue. 

Information Resources –

according to Davies (2018), information resource management refers to the management of records, information and/or data sets as a business resource. Information resource management involves identifying data as an organisational resource, categorising it and providing various types of active resource management. 

Technological Resources –

technological resources are intangibles resources such as intellectual properties, accumulated skills and experience, software license and patent (Storey, 2016). Technological resources make the process of creating goods and services more effective and efficient. 

Technological resources Management –

according to Mahmoud (2019), technological resources management is the optimisation usage of all technological resources which are including systems and tools required to effectively produce or create a product and/or service. These include also energy, information, people, tools, machines, capital and time. 

Effective Management of Assets -

this is also another important component which contributes to organisational performance. Assets include both physical and intellectual property that belongs to an organisation. A company can maximise output by ensuring that its assets are properly catered for in terms of servicing and even patents for its intellectual property. 

Impact of Effective Resource Management -

The impact of effective resource management in an organisation can never be underestimated. It is one major source of organisational success and profitability. Review of literature shows that financial sustainability in an organisation, for instance, cannot be achieved without sound resource management systems that are put in place. Such systems include, but not limited to, the management of not only financial resources, but also other associated resources like human skills, IT, production resources, just to mention, but a few. 

It is also commonly established that large organisations have well defined resource management systems which mainly guarantee that resources are evenly allocated in order enhance the overall organisational performance. It should be noted that an organisation’s productivity is tied to its ability to effectively and efficiently manage its technological resources. Therefore, there is a need for organisations to put effective resource management systems in place all the time. In times of emergencies as exemplified by COVID-19, companies and organisations with well-managed resources will be able to the global economic headwinds caused by the pandemic of such magnitude. 

ANSWER THE FOLLOWING QUESTIONS: 

Question 1: 

(i). What is the meaning of the term, “management of organisational resources?” (5). 

(ii). Discuss in detail, the manage organisational resources. (25). 

(iii). Explain the impact of effective resource management. (10). 

Question 2: 

(i). Illustrating with well-labelled diagrams, demonstrate your understanding to Types of Organisational Structures. (30). 

(ii). What structure is used in your organisation? Elaborate. (5). 

Question 3: 

(i). Define the “Concept of Work Team.” (5). 

(ii). Discuss in detail, the types of work teams that you know. (20). 

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