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) (2) (3) (4) Men Money Machine Material

Managers are responsible for acquiring and managing the resources to accomplish goals. 4 Types of organizational Resources The 4 Ms men, money, machine and materials

The 4Ms is a term out of the construction industry and provides a simple but effective way of looking at any task you need to do. Men What people do you need? What skillsets should they have? How many do you need? How do they work together? Money whats the budget? How do you raise the money? What contingency do you have? Purchase versus hire? Machines Trucks, cars, cement mixers, PCs, server racks, telephones, and so on. What physical machines/tools do you need to do the job. You can add in office space, software, etc. here too. Materials concrete powder, sand, rebar, pencils, glue, USB drives, printing paper, diesel, electricity, stationery, etc. What do you consume to do you consume to deliver your task?

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Significance of 4 Ms in different organizational functions

Since man became victorious in the industrial revolution, every business has been using these four M's: man, materials, machines, money to operate with, or without, and success. To create any venture without any one of these M's is simply embarking on a journey to Erehwon. It is sheer entrepreneurial harakiri to even attempt to cut corners. No one should even contemplate doing that. Failure awaits such business. It will also be disastrous for organizations not to properly and effectively organise the M's for business success. That, in itself is a different kettle of fish. None of the M's is useless no matter the perspective it is viewed from. A meta-analysis of organizations that have survived over time showed that careless regard to any of the five resulted in economic fiascos, with some even affecting global business. 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. No doubts about that. Materials Without materials, human resource is made redundant. Thus every right thinking and right planning organization knows that materials needed for any business or service mist be in place before 'man' can be of use in any business activity. Supply chain departments grew out of this thinking and has been a very useful and effective aspect of business management. A group of cement factory workers waiting for supply of limestone may have nothing much to do for as long as the supply does not arrive. Even if it arrives, but in poor quality, the production is certainly doomed for a loss. Quality compromised is business pauperized. Poor quality of materials potentially ruins entrepreneurship. This is an indisputable fact.

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Machines The metal contraptions called machines have made man fulfill almost effortlessly various dreams of creating things that make a existence more worthwhile. Machines have replaced man in tilling, planting, and harvesting. Man has been replaced with looms in cotton and fabric processing. Countless other ventures requiring physical exertions of force has been taken over by things fixed with gears, bolts and nuts and conveyor belts. 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.

References: http://www.africaheritagerivonia.com/?p=324 http://grow-a-set.blogspot.com/2011/09/4-ms-men-money-machine-and-materials.html

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