Resource management In simple terms, resource management is about ensuring that the organisation’s resources are where you need them most. This means that physical resources such as materials or ingredients are ready for manufacture or that people, a business’s employees, are also in the right place. This might refer to a particular business having enough employees to serve customers or a production facility having enough staff to be able to manufacture the number of items it needs to. If any of these are lacking, a business will find it very difficult to respond to opportunities. Business culture Business culture is how you do what you do in the workplace. Business cultures include all the formal and informal behaviours and even the values of a business’s employees. These things all create an experience for employees and customers. Some businesses use culture to their advantage to seize opportunities. For example, a business may be well known for creating new ideas and products and it may have a reputation for creative staff. This kind of business may be able to respond quickly to an opportunity to meet a new need in the market.
FIGURE7 Employees of Google are known for being innovative and the company has a flexible working culture.
22.6 SkillBuilder activity QUESTIONING AND RESEARCHING, EVALUATING, CONCLUDING AND DECISION-MAKING Work in pairs to complete the following activities: 1. For each of the target market groups below, propose an opportunity (a product or a business idea) that would cater for their needs. a. High-income earners b. New parents c. Diet-conscious consumers d. Well-educated people e. Young and active students
652 Jacaranda Humanities Alive 8 Victorian Curriculum Third Edition
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