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Manage your resources correctly!

Business management first of all means managing the material, human, financial, and information resources, in form of a skillfully set up „mix”. The well proportioned dosage of these four „ingredients” will help you find the right recipe for insuring prosperity of your business. However, this „recipe” should be permanently adjusted to the changes occurring in market conjuncture.

The management of material resources is required for insuring the production/provision process.  The activity for insuring material resources plays a role of harmonizing the interests of three entities that establish a relation: supplier - producer / provider customer of products/services.

A good management of financial resources in compliance with a preliminarily developed plan and with the current legislation will ensure the enterprise operation in optimal conditions, without loosing funds, preserving the enterprise image integrally. (Those who do not repay their loans on time, who do not observe their obligations as taxpayers by making proper payments to the state budget are subjected „to index”. Banks and other institutions already have websites through which they draw the attention of and inform the wide public about non-observance of financial obligations. Such cases are in fact the result of inadequate management).

The proverb „the right man in the right place” should constitute a prerequisite that an entrepreneur should start from in managing human resources. It is necessary to know when and how to admonish an employee, how to bring his/her skills out in order to not let him/her „go out” to competitors, what incentives to use for motivation, how to create and maintain a team of performing people. The current staff’s skills on-going development and the employment of some new highly professional members should constitute one of the main objectives of a company.

Information resources have a very important role to play in enterprise management. The success of a business can be directly dependent on their correct management (implying a high security of confidential data). Whether the information is stored in hard copy or electronically, access to it should be provided only to highly trusted persons, and certainly according to their competences.

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