finance, people, information, facilities, strength

Resource Management Systems are an integral part of every business. Along with management, resources support the "value triangle" of marketing and production in the Business Pyramid.

The key strategic systems of resource management are:

• Financial Resources (managing the business's money and reporting its financial results to management and other interested parties, or "stakeholders")
• Humane Resources (getting, developing, evaluating, compensating, and disciplining the people needed to operate the business)
• Business Resources (providing and managing the facilities, supplies, technology support, management information, and other services needed to run the business effectively)

Financial Resources

Managing the business's money and reporting its financial results to management and other interested parties, or "stakeholders" is critical to business success, especially small business success. 

Without a financial strategy that meshes with and supports your company's Strategic Intent, strategy, business plan, and budgets, you have no way of truly understanding its financial dynamics...how it makes money and what could disrupt its daily flow.

Financial resources include your pricing process, cost accounting, accounting and tax policies, and systems for cash and credit management, purchasing and accounts payable, inventory management, payroll and capital expenditure.

Humane Resources

Resourcing your company with the most appropriate mix of people with the right skills to do the work and produce the results you need is always difficult.

If you fell frustrated by not being able to get good qualified staf with the right attitudes to waork, you're not alone.  Nearly every small business person you talk to will tell you the same thing.

So, how do you get the people resources in your business right?  Start with your recruiting practices and ask whether they for you company and the employment market? Review your process for performance evaluation. Is it appropriate? How about compensation and benefits? Are they appropriate? What do ypor employees think of them? When did you last check whether you comply with all appropriate employment regulations? What about training and promotion policies and procedures?

Management information systems

A basic philosophy of management is that the more you can quantify and track business operations and results, the more objective will be your understanding of your business, and the more effective decision-making will be.

How often are you let down by an inability to get timely and reliable management information? What does this cost you?

Do you have a well designed management information system that delivers timely, accurate and meaningful management information? Is everyone in your business supplied with the information they need to do their jobs and make effective decisions? Is it useful and user-friendly and appropriate to the position held?

Dynamic information systems are required that are able to grow and adapt as your business grows and adapts to its markets and conditions, using appropriate and cost-effective information technology. Deciding what is appropriate can be a problem.

Facilities and working conditions

It goes without saying that your facilities present a representation of your business to the outside world.  They also need to be easily accessable for workers and customers (location of the workplace, transportation to and from),  Your facilities are a critical resource for your business.  It is not any old place, but one that can enhanceor diminsh the experience of everyone who works there or vists. 

Your facilities also has to cope with requirements as your business grows.

When did you last stand back and take an objective look at the facilities that house your business and ask whether they are still appropriate for your current and future busines needs, and whether they project the image of your business that your customers and employees expect?

To learn more about the other foundational systems of Full Spectrum Business Development click the links below"

MARKETING  MANAGEMENT  PRODUCTION 

Other links you can follow:

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