Resource management must aim for sustainability.
Resource management is the set of actions that a company carries out to manage its resources and assets efficiently . These are procedures that are key to achieving corporate objectives.
Before continuing, it is important to point out that the idea of management is linked to direction and processing. A resource , meanwhile, is an element that allows something to be done, to satisfy a need or to solve a problem.
When the concept of resource management is mentioned, therefore, it refers to the practices developed to make the best use of what a company has for its operation . The notion can encompass human resources, natural resources, financial resources and technological resources, among others.
Importance of resource management
Resource management determines how you use what you have or have available . This includes money, machinery and workers, for example. Good resource management helps you achieve your goals, while poor management can undermine sustainable business and even put your finances at risk .
It is difficult to talk about resource management in a broad or general sense for several reasons. On the one hand, there are very different resources: managing labour relations is not the same as managing information technology (IT), for example. Financial management , knowledge management , inventory management and asset management , in turn, have dissimilar characteristics. That is why in the same company there are multiple procedures or tasks related to resource management.
On the other hand, resource management depends on each sector or industry. An entity that operates with teleworking and remote management has a different management reality than a renewable energy company.
However, it is clear that resource planning in all its forms is essential in any organization . From cost-benefit analysis to process optimization , talent development and quality control, this management is always crucial in operations.
Workplace well-being depends on human resource management.
Different techniques
Resource management requires the implementation of different techniques. These techniques can be understood as guidelines or models to achieve a goal.
Forecasting aims to anticipate what resources will be required. This makes it possible to maximize efficiency , save time and reduce waste.
Planning establishes which resources will be used at any given time. This is relevant for proper organization. Planning is related to scheduling : defining where and when resources will be used.
Allocation , on the other hand, distributes the resources available for implementation or execution. Instances such as smoothing (to avoid underutilization and overload) and leveling (redistribution to correct allocation failures) are also necessary in management.
The combination of these techniques makes it possible for resource management to generate several benefits. These steps help reduce resource wear, provide transparency, reduce the risk of unforeseen events and help measure effectiveness .
Resource management can be complemented with market analysis.
Examples of resource management
Let's take the case of human resources management in a marketing agency . In order to expand its workforce, it carries out a recruitment and selection process for young talents. Once three candidates have been chosen, it offers them a compensation and benefits program to entice them to join the company.
Once they become employees, managers involve them in training and development activities, transmit the values of the organizational culture to them and insert them into teamwork. As part of this human resources management, all workers are also periodically subjected to a performance evaluation.
Let us now consider a company dedicated to paper production . In order to comply with environmental protection laws, it must prioritise its environmental management . Within this framework, it must ensure the conservation of resources (such as the trees that produce cellulose pulp) and limit its carbon footprint to the margins established by the regulations. Its resource management therefore includes reforestation actions and even practices that are linked to its corporate social responsibility (CSR) policy.
Another example of resource management is found in a newspaper that is betting on technological innovation to promote investigative journalism . In this context, the management of this media outlet invests in artificial intelligence (AI) resources and trains a group of journalists in big data and data analysis. Their idea is to develop reports that allow them to understand how public money is used and discover corruption. This strategy requires allocating resources to certain areas of the newspaper and taking them away from others. At the same time, the newspaper forges strategic alliances with media from other countries to expand the scope of its investigations.