- Human Resources
- Monetary Resources
- Raw Materials
Organizational resources are used,combined and transformed into finished products during the production process.
Human resources are people who work for an organization.Their skills and their knowledge are leveraged by the managers.
Monetary resources are amounts of money that managers use to purchase goods and services for the organization.
Raw materials are ingredients used directly in the manufacturing of products.
Managers must become both efficient and effective.
The effectiveness of the managers is measured in the effectiveness of the organization in achieving the organizational goals.
Managerial efficiency is the proportion of total organization resources that contribute to productivity during the manufacturing process. The higher this proportion, the more efficient the manager. The more resources wasted or used during the production process, the more efficient the manager.
Managers can be efficient but not effective and vice versa.
If managers achieve the organization goals they are effective, but if they end up using or wasting a high amount of resources, then definitely, the concerned manager is not being efficient.
On the other hand, if the manager is very efficient by using the resources in a limited manner, but misses accomplishing the organizational goals and objectives.
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