Physical Resources Essay

401 WordsJul 8, 20122 Pages
Definition Whatever the product or whatever the service provided by firms, they will all need some combination of all four factors that are financial management, human management, physical management and information and knowledge management to be manage properly in order the production to be produced. Physical resources are the resources that are made by man through his abilities and skill. These resources help men in their daily activities become easy. The buildings, technology, and many more products that are made by man is an example of physical resources. Some other examples of the physical resources are: a) Lawn and garden b) Vehicle c) Furniture d) Space When looking at the physical resources of a company, we look at the procedures that it undertakes to carry out its activities. Improvements can be made to make sure that these resources are maintained, refurbished and secured. Key Issues The main issue when talked about the physical resources is about its maintenance and the cost that involved maintaining the physical resources. A maintenance manager who feels responsibilities on the operations problems is more likely to achieve the major role of assuring the vitality of all physical assets. This larger role is another exciting aspect of managing an organization: it is not only more interesting than the necessary daily routine work, but it gives a manager the satisfaction of contributing to the overall objectives of the organization. The costs of maintenance can vary from 5 to 40 percent of the total cost of producing a product or service. The wide range derives from the nature of the business, the way costs are recognized and accumulated, and the efficiency with which work is carried out. Yet maintenance is only one of the costs associated with total costs. A maintenance manager is primarily concerned with controlling labor,
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