write the characteristic of a resource
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within human society, commercial or non-commercial factors require resources allocation through resource management resources have three main characteristics: utility, limited availability, and potential for depletion or consumption.
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USEFULNESS:- Usefulness is one of the most important characteristics of all the resources .All resources are useful. e.g. Money is non-human resource or material Resource which has been used in fulfilling each and every want or need of the family .It is a medium of exchange Money and certain collateral fringe benefits now widely granted to wage earners and people on salary . In a predominantly exchange economy money is a pivotal resource because it is exchanged for communities , services and mechanical power used by every family or individual .
LIMITEDNESS:-Resources are limited . Time has the unique characteristic of being the one resource constant in amount for all. It’s limited supply , stems from the wide variation from person to person and from family to family in activity patterns carried on in a given period.
Managerial process applicable to all resources.
Resources are used to achieve goals by applying to them the managerial process. Managerial process involves three steps planning, controlling-implementation, and evaluation-evaluative feedback .This process is applicable to human resources like time, energy, and non-human resources such as money, material goods etc.
LIMITEDNESS:-Resources are limited . Time has the unique characteristic of being the one resource constant in amount for all. It’s limited supply , stems from the wide variation from person to person and from family to family in activity patterns carried on in a given period.
Managerial process applicable to all resources.
Resources are used to achieve goals by applying to them the managerial process. Managerial process involves three steps planning, controlling-implementation, and evaluation-evaluative feedback .This process is applicable to human resources like time, energy, and non-human resources such as money, material goods etc.
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