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Resources and Production Factors (Physical resources (Equipment, Cars.,…
Resources and Production Factors
Time
It is a vital resource.
Companies that respond more quickly to market changes survive.
Time has always been a resource to solve the problem of scarcity, the problem of hunger.
Physical resources
Equipment
Cars.
Buildings
Inventory
Ground
Financial resources
Money
Credits
Loans
Investments
Technology
It is the art of know-how.
It can also be called a technique.
All that extra extra technological resource becomes an advantage for companies.
Human Resources
People are the company itself.
People's talents are the things they do best.
When a person uses his talent for the benefit of an organization he is giving the best he has, what he can give.