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Evaluate how managing resources and controlling budgets can improve the performance of a business
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D1 - Evaluate how managing resources and controlling budgets can improve the performance of a business
Do businesses really control their resources closely? Give reasons for your answer.
Businesses do control their resources closely, this is because:
Human resources: this is needed in the business and is also monitored because if some stuff isn't doing their work correctly then they are likely to be replaced with someone that is better. If the business is to expand then the business needs to employ staff with certain ability that will benefit their business.
Financial resources: businesses have to monitor their finance because; they need to insure that they have enough money in order to buy products and to pay their employees. They then also have to make sure that they have enough money so that they can pay off their bills as well.
Physical resources: this may be necessary if the business has to have publicity for example; need to have a branch. More customers are likely to join your firm, if you have a branch and by this the finance will increase. In a business computer systems will also be needed as this speed up things
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