Question

Activity 3.3.1 What are the three types of resources? Give an example how you would develop, procure and use each.

Answer 1

INTRODUCTION-

What do you mean by resouces - Resources can be defined as a mean of input which are used in producing certain kind of output or result. Resources can be said to be in any form whether money, material, labour or any other kind of assest used in carrying out a certain process effectively. Resources are generally used by those who intend to produce a certain kind of result out from that the result should be in the form of a product.

When we talk of a corporate world we generally categories the resources into three kinds or types

a- Natural Resources (mainly land).

b- Human Resources (mainly labour, staff etc)

c- Capital Resources (mainly man-made physical resources)

Now we will all the three types of resources in detail like what are they, what they include, how you can develop procure and use each of them with example.

a- Natural Resources - When we talk about natural resources we talk about the resources which we obtain from nature like it includes many of them for example- air, water, land, coal, minerals, forests and trees among which land is preferably been used as an input of natural resources to produced output or direc tly we can say that it is used as a natural resource in the production process as it include forests, minerals, water resources etc which can be used in the economic development and for the welfare of the society.Just the availablity of land is not enough its proper exploitation is needed in to achieve the development.

Procurement and development of natural resources- Now th main question arises that land is given by natural but you cant simply pick a piece of land and use it than how you can procure nad develop these natural resources in an orderly manner. For the procurement of these natural resources their are ceratin rules like you need to get a permission if we talk of a land acquistion we need a permission from whomsoever to it belongs and in return we need to pay compensation in the form of money, now if the land belongs to government in that case we need to obtain permission from the concerned government before acquiring and using that land, in case of coal as a resources it can be obtained from the mines as it is underneath the earth surfaces and to operate a mine you need government approval and with that we should state that you are carrying out that for the production which will benefit the society as a whole. For developing these natural resources you need to make a proper use of the available natural resources in such manner that it can utilized to its extent with minimum or no wastage simply to use them in the best possible way which help directly or indirectly for the betterment and development of the society. for proper usage of these you need to plann and manage these resources according to the requirement of the society for which you are working.

How can we use these Natural resources

• Land and soil can be used as a sources of production like food and other products for example food can be grown in soil and further used for our needs, other products can be used as raw material that can be utilized in the production process carried out in factories.
• Land can also be used to established and build factories and large industies in which the production process to produce many other product is carried out.
• Energy and other fuels can also be obtained from land which are the renewable resources and can be regenerated by nature further these fuels and mineral can be used again in factories to help in the production process when used as a raw material.
• Water another natural resources used on a daily basis in everyone life it can be used in irrigation process to help in growing food, also it is used as raw material in factoriesetc.

b- Human Resources - Human resources refers to those resources which includes human efforts like labour and other staff. These Human Resources directly contribute in the production process without the human resources even machines also cannot be operate thus it contribute to be an important resources in any production process. The employee personal working or employeed in a company or organization is also refered to as Human Resources of that organization and the the people managing these human resources are also termed as human resources, the process of managing these resources is known as human resource management.

Procurement and Development of the Human Resources- Human resources can be acquired through the process of hiring, recruiting, and the employee the human with the necessary skill and knowledge required by the organization in order to carry out a certain task using these human resources.It includes proper planning and career growth of these human resources labour termed as a main human resources used in the factories and industies in carrying out the production process they play a vital role in the production process even production carried out with the help of machinery need human personnal in order to operate those machines thus they proves to be an important resources ina ny process or organisation. Developing Human Resourcses -The development of the available human resources is of utmost importance in order to achieve the desired result out of them, for that you need to provide them with proper training and learning, when you provide them with proper and effective training they will become more sharp and carry out the work effectively. You can provide them with benefits like promotion for their work, timely appraisal to keep them motivated to work more harder, bonus for their extra work and time etc with the following you can develop you human resources of your organization.

How can be use these Human Resources

• These can be used as labour in large factories and industries in the production process which needs large number of personal.
• human resources can be used in a company to carry out the day to day operation of the business and other important work of the organisation.
• Staff Requirement is the essence of any organisation as it has numerous work to be carried out for which they required certain number of human personnel.
• HUman resources can also be used as labour in the construction work and in tthe agricultural production .
• Human Resi=ources is required even to management the staff at the management level which includes Experts and experienced person.

c- Capital Resources - These resources refers to those goods and services which are used in the further production of other resources examples tools, machinery, building and other euipment. These are also termed as man-made resources. I/t plays an important role in the production of the main product in whose production they contribute.These are generally refered as man made elements. These resources are required in both manufacturing and services industries.

Procuring and Development of Capital Resources - These capital resources can be procured and acquired by human by simply carry out the production process as these products are required as inputs in the further production of other or main goods and services for examples building is required as a premise to carry out the production of other goods and the building is procured with the process of carrying out the construction process by using human resources and then further used as an input to carry out the production process in the building to create other goods and services needed by the consumer. Developments of these capital resources can be done by making the proper use of it and by properly analyzing and evaluating these resources.These are produced by man

The uses of capital resources are as follows

• These can be used by the consumer for their uses and also can be used as raw material in the further production of other goods.
• Capital goods production can be used to create more employment.
• Capital goods such as machinery converts raw material into finished products.