Examples Of Resources In Business. Money or its equivalent. These could include equipment inventory buildings manufacturing plants and distribution networks that enable the business to function.
Plastic hardware parts glass electronic components factories storage facilities equipment. Resources are often classified into categories such as tangible e g. Money or its equivalent.
Financial resources such as cash credit etc.
In order for companies to transform these resources into sustainable competitive advantage resources must have four attributes that can be summarized into the vrio framework. Trademarks brand reputation patents and licenses or physical human and organizational resources. Intellectual resources such as your brand patents copyrights partnerships and customer databases. A human resources department is a critical component of employee well being in any business no matter how small hr responsibilities include payroll benefits hiring firing and keeping up to.
