How to Maintain Business Resources

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Maintaining business resources is an important aspect of business management. When an organization fails to maintain the proper levels of all necessary business resources, it can have a major negative impact on the bottom line. It is important to delegate the responsibility of maintaining business resources to a specific person or team who will be held accountable for ensuring all organizational requirements may be met long term.

Estimate your required business resources.
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Estimate your required business resources. Research all aspects of your business resources, including human resources, facilities, software, hardware, raw materials, stock and supplies to determine the optimal level needed to meet organizational requirements.

Break your resources down into categories.
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Break down your resources into three main headings. Include each of the resources you have listed into the following categories: overheads, materials and labor. List all of the organizational and legal requirements that must be met for each resource.

Identify resource shortages.
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Identify any resource shortages and document the impact those shortages can have on your organization.

Translate your business requirements into practical terms.
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Translate your organizational requirements into practical terms. Examine all applicable requirements and regulations to determine the proper way to meet these requirements. Consider how each of these requirements affects your organization and research all of the possible ways the requirements could be met. List the pros and cons of each, and determine the best avenue to take to meet each requirement.

Assign tasks to specific employees.
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Assign tasks to specific employees who will be held accountable for maintaining specific business resources on an ongoing basis. Document all resources and maintain comprehensive records of all resources, as well as who is responsible for maintaining the resources and how those resources are to be maintained.

Choose equipment, materials and suppliers.
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Choose equipment, materials and suppliers. Research and compare all possible equipment, materials and suppliers to find the best deals at competitive prices while also ensuring the products or services are of the necessary quality and can arrive in a timely manner.

Review your business requirements on an ongoing basis,
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Review your organizational resources on an ongoing basis. Stay abreast of changes within your organization and in your industry to know when resource adjustments must be made.

Tips

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References

About the Author

Amanda L. Webster has a Master of Science in business management and a Master of Arts in English with a concentration in professional writing. She teaches a variety of business and communication courses within the Wisconsin Technical College System and works as a writer specializing in online business communications and social media marketing.

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