Question

CAPSTONE: Technology Management

13. In Your Opinion, What Are The Three More Important Resources To Manage In An Organization? Explain In Detail The Logic Of Your Answer.

Answer 1

In my opinion, the three most important resources include
 Human Capital or Talent management
 Information technology
 Finance or capital
Human capital is a crucial resource as this forms the internal strength of the organization. Talent management has been rated the topmost organization resource in a survey conducted by the World Economic Forum. The survey highlighted that management professionals and technical personnel are very important for an organization. Human resources management has now become strategic HR projecting human resources as a core competency and gets a competitive advantage by aligning human resources with the business strategy of the organization. In most of the company SWOT analysis, human capital is projected as one of the major strengths. Human resource fuels the company growth by using the technology, infrastructure and other resources of the organization in an efficient manner. Hence it is essential that human resource or talent management resource to be managed efficiently to mark the success of the business.
Information is wealth and technology plays a critical role in managing company information. Technology helps to integrate the various department information of the organization and helps the manager or top management to take fast and quick decisions. Business intelligence information helps in new product development and gets a competitive advantage. Competitive analysis information helps in framing new strategies to serve customers in a better manner. Internal information helps to improve business processes by identifying the lagging or weak links in the business process. This internal information is very crucial in business process re-engineering systems and especially during the implementation of Enterprise resource planning (ERP) systems.
Finance is the next important resource needed for organization development. Finance or capital is required for investment and company expansion. When an organization enters into a new market or makes an international entry, then a huge amount of funding is required. Finance or capital forms the backbone of an organization to succeed and sustain in future. Every organization releases an annual report and finance section including balance sheets and financial statements form the key aspect. Investors analyze the financial performance and financial condition of the organization before investing money into the enterprise. Share market investors look at the debt-equity ratio and other financial measures to invest their money in the company stocks.
All the above three resources have to be managed successfully in an organization to serve the customers in a better manner. Ultimately managing all the resources of the organization are focused on one goal of achieving customer satisfaction and increasing the customer base or market share.