Resource Mobilization

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Resource Mobilization is the process of getting resources from resource providers using different mechanisms to implement organizational work for achieving predetermined goals. It involves acquiring n…

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Physical resources are those made by humans through their abilities and skills, available to an organization in the form of buildings, plants, machinery, etc. They include: Land and buildings, Plant a…

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Key considerations include: 1) Capital cost involved, 2) Access to other resources, 3) Transport and communication costs, 4) Availability and cost of manpower, 5) Cost of production, 6) Availability o…

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Human resources are the total knowledge, skills, creative abilities, talents and aptitudes of an organization's workforce, including values and attitudes of individuals. They are the most important as…

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This principle ensures: 1) Benefits of specialization to the firm, 2) Minimizes wastage of resources, 3) Reduces inefficiencies, 4) Reduces labor turnover ratio and absenteeism, 5) Saves cost of produ…

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Advantages include: 1) Better cost efficiency and reduced wastages, 2) Savings of time, cost and energy, 3) Higher efficiency due to proven expertise, 4) Focus on core business activities, 5) Quality …

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Finance is the 'life blood of enterprise' and 'lubricant to the process of production'. It facilitates entrepreneurs to bring together personnel, machines, materials, methods, and land to convert drea…

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FIXED CAPITAL: 1) Used for long-term assets like land, building, machinery, 2) Permanent capital not easy to withdraw, 3) Procured through long-term sources, 4) Forms basis for income generation. WORK…