Session- 2

Session 2 ;

22 Oct 2021 

The session started with a discussion of types of organisational resources which are mainly human resources, financial resources, physical resources and information resources. All of these resources play an important role in determining the success of the organisation. The objective of HRM development is to provide a framework for employees which is necessary for achieving individual and organisational goals, maintaining efficiency and productivity in the organisation and for long term future prospects as well. Financial resources are indeed a vital part of any organization. Money and capital investments are needed to plan, organize, staff, lead and control. Physical resources such as machinery, office equipment etc in an organisation is an important function because procurement of machines and other equipment is necessary for the production process; without which an organisation can’t function. At last, we have information resources. Information is an important and key resource for every organisation and hence is widely used in decision making and provide useful details about the organisation to its users. Furthermore, we took examples of companies to understand these resources in a better way. Proceeding further we discussed some key terms like management, efficiency and effectiveness. Efficiency and effectiveness go hand in hand, management needs to achieve their goals both effectively and efficiently to survive in the competitive environment. Afterwards, we learnt about levels of managers which are -

• Top Level Management
• Middle-Level Management
• Operational Level Management

Each level of management is responsible for the successful completion of a particular task. Apart from this, there are different kinds of managers by area as well. These are:-

• Marketing Managers
• Financial Managers
• Operations Managers
• Human Resources Managers
• Administrative Managers
• Specialist Managers