Greetings to you all great minds and happy new year. I believe we are all doing well. We thank the Lord for his grace towards our lives and families this 2023.
I will be showing you steps on how to manage your resources this 2023 as you follow me closely.
What are resources?
I see resources as an asset which is used in generating income. This can be raw materials, staff in an organization, building, cash etc.
In an organization, we have what is known as "Human Capital Investment", this is where the company decides to give her workers out for more training as well as to increase productivity. Now for the company to manage her resources, all the worker will not be selected for the job training in order for the company to still be in existence.
However, for the company to select you for on the job training, then you have to be welled disciplined, encouraging, fast to learning and equally pays attention to details.
The cost of investment
Whenever we talk about cost of investment, what are we really saying? This is the amount in which a particular asset or services is been acquired. I want you to know that this might be positive or negative when it comes to the cost of investment.
Positive Cost Of Investment
What we are looking here is the return on investment ROI. Here what the company has invested in training her staff remains positive as the overall potential of the staff becomes very effective as the productivity of the company are enhanced. However, we can say that the outcome of the staff is greater than the cost of investment. Once the first task is achieved, you as the director can now employ another opportunity to send another staff for another field of training. Through this, the company will maintain its competitive advantage over others.
Negative Return On Investment
When we have a situation where the total cost is greater than the returns, at this point we can say its a negative return on investment. The company sometimes pass through such situations because life is unpredictable. Many times when a staff is being sent for upgrade, death might end his/her life thereby making the cost of investment to be negative.
In our individual lives, sometimes we would be thinking of whether we should invest in a particular assets but making and taking the right decisions is what matters in life. You should know what you are buying and what you invest your money at, as this will be the future on how your resources are been managed.
• You can manage your cash well by knowing what to buy and what not to buy.
• Delay some kind of purchases until you found it fit before you can do so.
Feel free to share your strategy on how you manage your resources using the comment section below. Thank you for finding time to read through my blog.
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This is super educative
One's decision to spend wisely depends on his choice of when and what to buy on a scale of preference
Thanks for sharing with us the need to manage our finances. In fact, it's most paramount in having a successful business and even in managing our homes. We must determine the necessity of any investment before venturing into it.
Once again, I say thank you dear @justiceanietie.
You are welcome
Thank you
Really nice post congratulations!
I usually do this: every month I establish my budget... usually given by my income.
Of this budget, 20% is allocated to investments
20% savings
10% to entertainment
and 50% for needs, bills and everything you need to live.
Obviously it happens that, for example, he manages to save further and everything that advances always ends up in investments.
Thank you so much for sharing!
Thank you
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