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UNIT 2: PRODUCTION FACTORS AND BUSINESS RESOURCES - Coggle Diagram
UNIT 2: PRODUCTION FACTORS AND BUSINESS RESOURCES
2.1 Time as a Strategic Resource
Time
Limited and non-recoverable resource
Affects productivity
Time management
Prioritize tasks
Meet deadlines
Improve processes
Business importance
Reduces costs
Improves customer service
Increases competitiveness
Supports adaptation to change
Technology
Automation
Faster processes
Better use of time
2.2 Physical Resources
Include
Infrastructure
Machinery
Equipment
Technology
Importance
Enable production of goods and services
Improve efficiency
Reduce errors and costs
Management
Maintenance
Updating
Strategic investment
Sustainability
2.3 Financial Resources
Purpose
Finance operations
Make investments
Support growth
Internal sources
Retained earnings
Reserves
External sources
Loans
Credit
Investors
Suppliers
Financial management
Budgeting
Expense control
Investments
Cash flow
Risk management
Objective
Liquidity
Profitability
Sustainability
2.4 Technology and Competitive Advantages
Technology
Application of knowledge
Solves problems
Improves processes
Applications
Automation
Data analysis
Artificial intelligence
Digital communication
Advantages
Higher productivity
Lower costs
Innovation
Better service
Technology management
Training
Innovation
Adaptation to change
Security and responsibility
2.5 Human Resources
Human talent
Knowledge
Skills
Experience
Motivation
Productivity
Results achieved
Efficient use of resources
Talent management
Training
Motivation
Performance evaluation
Teamwork
Talent retention
New challenges
Automation
Remote work
Hybrid work
Technological adaptation
Importance
Innovation
Competitiveness
Business growth