Resources and their types

The resources are the combination of all the things that might be assisting to a business in or not in the time of difficulty. They include both; the financial as well as the non-financial factors belonging to the business (Cooper et al., 1994). They are essential to perform a certain type of activity as in their presence, it would be impossible for the business to gain the goal that it has set. The resources are the surety that the business has the ability to gain its target and can provide the people the best and efficient product they need to satisfy their needs.

There are a number of resources that the management of the business needs to get its objectives. Each one of them is of different nature and has different purpose. The human resource is considered to be the very main asset and the resource to the business that has the ability to change the fate of the business. All the employees of an organization come under it and are really crucial to take into consideration. They are the guarantee that the business will attain its set goal with their skills. The other resource is the land, where the structure of the business is set up. The business cannot initiate its operations on the air, but it needs some place to operate on and to produce its product.

The capital for a business is like blood, without it, there will be no production of the product or service. There will be no activity at all, and the business will not be able to even operate in the market even for some time. It can be said when there is no blood, how a body can move. The other category of the resource is different sort of technical equipment that the business has (Brynjolfsson and Hitt, 1995). They ensure that within the structure of the business, there is something that will ensure the operations of the business.