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The 4 m's. Describe different types of organizational resources and elaborate their significance in different organizational functions?

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Introduction

Q1: Describe different types of organizational resources and elaborate their significance in different organizational functions? Organizational Resources The organization is where resources come together. Organizations use different resources to accomplish goals. The major resources used by organizations are often described as follow: (1) Men (2) Money (3) Machine (4) Material Managers are responsible for acquiring and managing the resources to accomplish goals. 4 Types of organizational Resources The 4 M?s ? men, money, machine and materials The 4M?s is a term out of the construction industry and provides a simple but effective way of looking at any task you need to do. 1. Men What people do you need? What skillsets should they have? How many do you need? How do they work together? 1. Money what?s the budget? How do you raise the money? What contingency do you have? Purchase versus hire? 1. Machines Trucks, cars, cement mixers, PCs, server racks, telephones, and so on. ...read more.

Middle

When man took time off work to fight two major wars, there were economic downturns as precious time was expended to right perceived wrongs. Man Man, the first of the Four M's is the most important. The right personnel for the right position is a sure bet for organizational effectiveness and efficiency. No two ways about that. Thus, lateness and absenteeism, unsafe acts, alcoholism, poor training, incompetence are just some of the attributes of man at work that could upturn the apple cart of business ventures. Human resources determine the workings of the other four basic business resources. People make sure materials, machines, minutes and money are utilised in a productive manner to achieve goals or aims and objectives of organizations and enterprises. Poor employment practices are inimical to the sustenance of such ventures. With the right man in the right job, a large portion of effective business management will have been achieved. ...read more.

Conclusion

Recently, computers joined in the fray of increasing production and reduction in time spent by man for manufacturing and general production of goods and services. However, without man and materials, machines will be useless. They need to be operated by man and fed with materials. That again is a doubtless fact. Money Without money, no venture or enterprise can motivate workers, get quality and sufficient materials, get the right machines and maintain them or even ensure that time is properly managed. Money management, when not properly organized has been the most known factor involved in collapse of enterprises in history. The quantity and quality of money expended in ventures have a direct bearing on the fruitfulness of same over time. Accounts department have been revolutionaries over the years, by man, to ensure maximum operations of surviving business organizations. Where there is not enough money, no good workers, materials, or machines can be employed or purchased or acquired. In other words, such a venture will be wasting its time existing in the first place. ...read more.

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