The article is devoted to the management of economic resources to improve the performance and efficiency of business based on the approach to business as an activity based on economic resources (activity-based Economic Resources). This approach generalizes modern achievements in business management practices, allowing to improve organization and management, increase productivity and business efficiency.
What are resources? Why is the topic of resources always relevant?
At its core, business is a purposeful activity to transform economic resources into the achievement of business goals (product, income, profit).
Economic resources(fr. auxiliary means) - funds, stocks, property, personnel, competencies and other opportunities for carrying out business activities. That is, it is a set of tools that are necessary and can be used in business processes: the creation, production, sale of goods, as well as the management of these processes. Thus, resources are sources and preconditions achieving business goals, building blocks that turn opportunities into real results.
Resources are the driving forces of any activity, including business, called upon to the right combination elements and their skillful interaction to ensure effective results.
The problems of business efficiency and effectiveness often lie in the fact that the business is not considered by managers through the resource model, which significantly reduces the efficiency of cost management, causes irrationality in attracting and using resources, and gives rise to crisis phenomena. Business costs without a resource model are not sufficiently optimized, since they are not perceived in connection with the results that they should provide (income, profit, competitive advantages, and others).
The resource economy consists in attracting the necessary and sufficient resources to fulfill the set goals, combining them in a productive force, reasonable and balanced distribution between the main areas and functions of activity to generate income that exceeds the cost of resources. In addition, the resource base should be formed and developed taking into account strategic aspirations, and not the current moment, since the tactical approach, as practice shows, increases the actual costs.
Features of resources for business:
1) The need for resources is always unlimited in desires, but due to the extraction, creativity, payment and other things, resources in reality are always limited. Therefore, the attraction of limited resources and their effective use is a manifestation of entrepreneurial ability.
2) Some types of resources are attracted in the resource markets: labor, capital, and so on. Companies are forced to compete for resources.
3) Resources have properties: mobility, interchangeability (alternativeness), combination, complexity.
4) The cost of resources is often determined not by the prices of resources, but by the cost of what you have to give up in order to acquire them (opportunity cost). When choosing an alternative cost, the best of missed opportunities is taken. Consideration should be given to the possible difference in approaches to estimating the cost between the manufacturer (can only be based on costs) and the buyer (can be based only on the opportunity cost).
5) Resources are subject to the law of diminishing returns (productivity) of resources over time.
The role of resources in business.
The role of resources is to provide the selected activity with the necessary components for the production and sale of goods, generating income that pays for the costs of resources with a profit sufficient for expanded reproduction.
At present, the approach to resources is often defined as only costly components of activity, which is fundamentally wrong and distorts their role and significance.
Resources are sources of business income that are focused on meeting consumer needs or generating demand in a chosen field of activity. Thus, business is an activity based on attracting, creating, using economic resources to ensure efficiency and effectiveness, that is, it is an activity based on economic resources (activity-based Economic Resources).
The performance of activities directly depends on resources for the following reasons:
The need to have sufficient resources for the production, sale of the product, management of activities (the composition of certain resources).
Purposeful impact of human resources on materialized to obtain a product.
Receiving income from the sale of the product to the consumer.
Competitive positions in the consumer market and resource markets (opportunities to attract quality resources).
Performance efficiency is the optimal exploitation of resources, which is expressed in maximizing income over resource costs. Costs are the cost of the resources expended to obtain a result, that is, the costs must be effective, that is, recouped by income, capital growth. Efficiency is ensured by the economic essence of resources in business, they generate (predetermine) income, but costs are necessary to obtain them. The formula for the role of resources in the financial efficiency of a business can be represented as follows:
Resource Revenue - Resource Expenditure + Goodwill = Financial Results
Resources can generate goodwill if their effectiveness and strategic performance are recognized and valued by investors.
The effectiveness of activities directly depends on resources for the following reasons:
The quantity and quality of attracted resources, their productive interaction, which determines the profitability of activities: revenue, income from financial and investment activities, goodwill, inflow Money.
Quantities, costs of used resources, which are measured (estimated) by resource costs: cost, expenses for financial, investment activities, cash outflow.
The difference between the income from the exploitation of resources and the costs of their attraction and use gives a positive financial effect (profit, capital growth, net discounted cash flow).
Efficient use of resources provides the company with cost leadership in the industry, that is, strengthening competitive advantages in the markets.
Attracting investment in the business while assessing the quality and productivity of the company's resources by investors.
Resources are the main productive forces that form the financial, market, social results of activity.
The role of resources in business is not only to ensure the effectiveness and efficiency of activities, but also to create competitive advantages.
Competitive advantages in resources for superiority in the markets are:
In attracting better, more productive resources than competitors.
In possession of exceptional, limited resources.
In the creation of unique resources inaccessible to other market participants.
In the formation of a system of resources that ensures high performance and efficiency.
Entrepreneurial ability.
Companies that have a competitive advantage in resources, especially if they are protected in some way, make excess profits.
Given the above, it can be argued that the activity based on economic resources (Activity-based Economic Resources) plays a key role in the implementation of any business or non-commercial activity. Without a rational resource system, efficiency, effectiveness and competitive advantage will be at a lower level compared to the opportunities provided by this practice.
Types, structure and classification of resources.
Types and structure of business economic resources:
1. Material resources.
1.1. Raw material.
1.2. Materials.
1.3. Technological services from outside.
1.4. Accessories.
1.5. Purchased goods from outside.
2. Intangible resources.
2.1. Licenses, patents and other rights.
2.2. Brand.
2.3. Know-how, innovation.
2.4. Software.
3. Human resources.
3.1. Leaders with entrepreneurial abilities.
3.2. Qualified employees.
3.3. Competences (knowledge, skills, abilities).
3.4. Team.
3.5. Techniques and methods of work.
3.6. Communication of employees with external partners.
4. Production - technical resources.
4.1. Land.
4.2. Natural resources.
4.3. Buildings, structures.
4.4. Means of production.
4.5. Infrastructure.
4.6. Production technologies.
5. Financial resources.
5.1. Equity.
5.2. Borrowed capital.
5.3. Cash.
5.4. Deferred payments.
5.5. Hood - villa.
6. Information resources.
6.1. Sources of information.
6.2. Information on consumers, market, production, sales.
6.3. Industry information.
6.4. Database.
6.5. Ways and methods of information processing.
6.6. Means of information processing.
7. Commercial resources.
7.1. Relationships with buyers.
7.2. Contacts with suppliers.
7.3. Relationships with partners.
7.4. Sales networks.
8. Organizational and managerial resources.
8.1. Strategy.
8.2. Strategy Implementation Management System.
8.3. Organization of business processes.
8.4. Organizational structure.
8.5. organizational procedures.
8.6. management infrastructure.
8.7. management information.
8.8. Management technologies.
8.9. Supply system.
8.10. System of planning, distribution of resources.
8.11. Control system.
8.12. Measurement and evaluation system (indicators).
8.13. Motivation system.
9. Administrative resources.
9.1. Liaison with state and local authorities.
9.2. Fulfillment of government orders.
9.3. Participation in the business of state structures.
10. Time resources.
10.1. Time horizons for making and executing decisions.
10.2. Efficiency in decision making.
10.3. The complexity of operations.
11. Other necessary resources depending on the characteristics of the business.
The composition of the required resources is unique for each specific business.
Resource classification:
By influence on the product: direct - indirect.
By the impact on production volumes: variable - constant.
In relation to the role in the activity: production, commercial, managerial.
By time: long-term use, short-term use, consumed immediately.
Restorability: renewable, non-renewable.
By financial role: active, passive.
By product: resources for product 1, resources for product 2, resources for management.
By value: accumulated (land, competencies and others) - non-accumulated (consumed in the course of activities).
The structure and classification of resources are the basis for the formation of a system of resources for a particular business.
Resource management system.
Resources are the source of business energy, the main factor of activity, so it is vital to manage them. This is done through the resource management system.
The resource management system includes:
resource strategy.
Resource strategy implementation system.
The resource management system is an integral and integral part of the overall business strategy and business strategy implementation management system.
Given the features and properties of resources, we can conclude that each business is a unique set of resources, ways to manage them, attract, develop and use them in activities. Therefore, each organization must create its own system of resources for the goals, development strategy, activities.
The system should contain a complex and combination of necessary resources, based on goals, activities, strategies, processes.
Resources are the system that turns goals into results. The result is achieved through the synthesis of the targeted impact of human resources (labor) on materialized resources (material, financial, and others) in the course of business processes. In business processes, resources are converted into results of activities. Thus, the cost of resources (quantitative, qualitative, cost) is determined by their need for the result. Efficiency (achievement of goals) is ensured by the correct attraction, development and use (application) of resources for the production of goods, their sale to consumers and the management of these processes.
The system serves to interconnect the main business processes in meeting the needs for resources, their balanced distribution for the use, development, accumulation of resources for the expanded reproduction of capital.
Strategic, key resources that provide development, and competitive advantages of the business are determined in the overall development strategy of the organization, which includes consumer, product, market strategy, supported by a resource strategy and a capital growth strategy.
Strategic resources are planned in the resource strategy based on consumer, product and market strategies, based on critical success factors and VRIN properties: resource value (Valuable), resource rarity (Rare), imperfectly reproducible (imperfectly imitable), irreplaceable (Non-substitutable).
The resource strategy establishes the need for key resources that determine business development.
The need for resources is determined based on:
The nature of the external environment.
Goals and strategies for achieving them.
Product(s) of activity - product offer.
Industry specifics.
Types and scope of activities.
Positions in consumer markets and resource markets.
Business organization and management systems.
But strategic resources are not sufficient in general for the activities and implementation of the strategy. The strategy is implemented through the strategy implementation management system, which requires resources to ensure the main functions of the implementation of the strategies (marketing, development, production, sales, organization and management) through the actions of human resources based on the financing system. That is, the use of a strategy management system refines the business processes of production, sales, organization and management, as well as sources of financing for attracting resources, and determines indicators of their effectiveness and efficiency.
Taking into account the resources required for management functions, the requirements for general resources for activities are specified.
Shared Business Resources = Strategic Resources + Activity Management Resources (Tactical Resources).
The resource strategy also formulates the tasks, principles and conditions for attracting the necessary resources, as well as ways to attract and finance them.
The tasks of attracting resources:
1. Efficiency - product creation, sale to the consumer.
2. Efficiency - the generation of income from activities (recognition of consumers, investors, shareholders) exceeds the cost of the resources expended.
3. Resources have advantages that provide a strong position in the markets, as well as additional capital gains in the form of excess profits and goodwill.
Fundraising principles:
Alternatives are possible solutions.
Selection of the best option based on the optimality criteria that are set by the company.
Reasonable assessment of resources from the positions of: economic, market, technical, legal, personnel, risk and others.
Alignment with strategy and goals. Comparison with competitors.
Growth of market opportunities.
Measurability of resources: natural, value.
resource productivity.
Efficiency - the product sold to the consumer (quantity, quality, benefits).
Financial result: revenue, profit, return on invested capital and others.
Conditions for attracting resources for activities:
Availability of resources - the ability to obtain the necessary resources for strategic activities.
Sufficiency of resources - the ability to attract the required amount of resources.
Quality of resources - compliance with goals, objectives (ensuring achievability), business processes.
Rationality of attraction and use (justified, paid off by income).
Ownership (and/or controllability) of resources.
Resource advantage protection.
Ways to attract resources:
Acquisition, purchase, exchange.
Rent, free use.
Hiring, civil law relations with personnel.
Outsourcing.
Investments.
Equity participation, mergers and acquisitions.
Development, creation.
Most of the resources are attracted in foreign markets, so the dynamics and state of the external environment is of paramount importance for resources. Its impact can be analyzed through PEST analysis:
Economic perspective (macroeconomic changes, changes in resource markets).
political perspective.
social perspective.
Technological perspective.
Attracting resources solves the following issues:
What resources are needed for income.
How much for the volume of activity.
Resource quality.
Resource sources.
Price.
Measuring and evaluating resource performance.
Thus, the resource strategy establishes:
1) The need for the necessary resources for the activity.
2) The quality of resources, their impact on critical success factors and performance indicators.
3) Quantity and estimated cost of resources, their productivity.
4) Resource risks.
5) Sources of funding to attract resources.
6) Efficiency and efficiency of the planned activities.
The resource strategy is carried out through the resource strategy implementation management system, which should contain mechanisms that will ensure the attraction and use of resources through the supply, distribution between control centers. Control centers are designed in an organizational structure. Implementation mechanisms are the systems of organization and management.
Features of the resource system:
The system is based on a set of methods: balanced scorecard (Bsc), functional cost analysis (ABC), cause and effect relationships (CMOPC), value-based management (VBM), financial reporting standards and others.
Resources are planned from the strategic goals (results) of development for 3-5 years, tactical for 1-2 years.
Resources are planned for processes based on the balance of assets and liabilities.
It is possible to plan from the price of the product.
Resource management in general across all activities.
When making decisions, financial and non-financial performance indicators are taken into account.
Activities are balanced in the system of effective business management (balanced scorecards).
Complexity - all business processes must be provided with resources.
Consistency - the performance and advantage of resources depends on the interaction or combination with other resources.
Organization of work with resources.
The functioning of the resource system is based on the organizational system, which includes:
Clearly defined business goals.
Goal achievement strategy.
Business structuring is a system for making and executing decisions (strategies), that is, an organizational structure.
The procedure and rules for making and executing decisions, interaction within the organizational structure - a system of corporate standards.
Business processes and technology for their implementation.
The necessary infrastructure for the implementation of business processes.
Providing resources for business processes.
The organizational system is the basis for determining the need for resources, allocating resources between business processes, providing resources, and also establishes the rules and procedures for working with them.
Resource management.
For purposeful work with resources, resource management is necessary, which includes:
Monitoring the external environment that affects resources.
Marketing of foreign markets.
Resource planning.
Formation of information on resources (assets - liabilities, income - expenses, IFRS, management accounting and others).
Methods and methods for measuring and evaluating resources.
Control and analysis of the effectiveness and efficiency of attracting, using and developing resources.
Motivation for effective and efficient formation and use of resources.
The resource management system allows you to direct resources to achieve performance (goals), coordinate actions and use of resources between the functions of the management system, responsibility centers, provide resources according to plans and schedules, measure and evaluate the effectiveness and efficiency of resource use, collect and process information, make decisions quickly , stimulate achievement.
Advantages and benefits of activities based on economic resources
(activity-based economic resources).Advantages of the economic resource management system:
1) A tool for making decisions from a position - looking forward, not looking back.
2) Comprehensive and systematic formation of a resource base for a strategy and a system for managing the implementation of a strategy, rather than chaotic requests from departments.
3) Orientation on the profitability of resources, their value to the business, and not only on the cost of resources (efficiency in the use of resources).
4) Rational distribution of resources between processes for the balance of strategic development.
5) Control of the sufficiency of the necessary resources to fulfill the set strategic tasks.
6) The economic resource management system is an integral part of the “business immune system” that counteracts the disorganization of activities and negative changes in the external environment.
Benefits of using an economic resource management system:
1) The focus of attraction and use of resources on the effectiveness and efficiency of activities.
2) Optimization of resource costs depending on the focus on profitability and strengthening of market positions, competitiveness.
3) Accumulation of resources for expanded reproduction of capital, increasing the value of the business through goodwill.
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February 3, 2010Resource management is the process by which companies effectively manage the variety of resources at their disposal. These resources can be intangible (people, time) and material (equipment, materials, finances).
This process includes planning to ensure that the right resources are used for specific tasks. Resource management includes scheduling and budgeting for people, projects, equipment, and supplies.
Although the term itself is often used in relation to project management, it applies to many other areas of organizational management. In particular, a small company may pay attention to resource management in many areas, including the following.
- Finance. Are there enough funds to cover running costs? Can you afford to invest in new equipment or employee training?
- State. Are there enough suitable employees in the company? Will it be necessary to hire someone else, and if so, what skills will these people need to have?
- physical space. Does the location of the office or production areas allow you to manage other resources with maximum efficiency?
- Equipment. Does the company have all the tools needed to perform the required work?
- Technologies. What does the company need to succeed, and is there a need to reallocate financial resources in such a way as to acquire what is missing?
Project resource management
Resource management in the field of project management often involves the leveling and smoothing of resources.
Resource leveling is done in order to avoid a shortage of resources in one area and their excess in another by maintaining them at the right level. Special software can be used for this.
The term also refers to the time it takes to complete a project. Leveling adjusts the project's start and finish dates so that both dates coincide with the availability of the corresponding resources. Leveling can increase the life of a project.
Resource smoothing is a scheduling technique that allows a project to be delivered by a given date without noticeable ups and downs in terms of resource usage. The goal is a uniform use of resources over time.
At its simplest level, for a small business, resource management means making arrangements for the most efficient and sensible use of materials and human resources by the company.
Resource support for the activities of organizations is one of the most important systemic functions. The study of its patterns is required for the rational, efficient and timely distribution and redistribution, use and replenishment of the resources necessary for the implementation of socio-economic activities. It is this function that is the basis for the performance of a number of other institutional functions by organizations.
At present, the scale, structure and level of resource use in organizations, due to a variety of general economic and local reasons, are becoming disproportionate to the scope of activities and the goals of functioning, which in itself is considered as a disproportion and causes the emergence of other static and dynamic disproportions.
The inadequacy of the mechanism of resource support for the activities of organizations to modern socio-economic conditions, in turn, significantly limits the possibilities for their development, reduces the competitiveness of organizations in comparison with other market entities, and has a negative impact on the fulfillment by the system of its social mission.
The concept and meaning of organization resources
The resources of an organization are everything that can be used by an organization to achieve its goals, to meet its own needs and the needs of the subjects of the external environment Modern management / Ed. D.N. Karpukhin, B.Z. Milner. - M.: Publishing house, 2007. - S. 45..
Economic resources - cash, stocks, property, personnel, competencies and other opportunities for management activities. That is, it is a set of tools that are necessary and can be used in management processes. Thus, resources are the sources and prerequisites for achieving the goals of the organization, the constituent elements that turn opportunities into real results Denisov V.M. Manager resources / V.M. Denisov // Management in Russia and abroad. - 2003. - No. 4. - S. 24 ..
The resource economy consists in attracting the necessary and sufficient resources to fulfill the set goals, combining them in a productive force, reasonable and balanced distribution between the main areas and functions of activity to generate income that exceeds the cost of resources. In addition, the resource base should be formed and developed taking into account strategic aspirations, and not the current moment, since the tactical approach, as practice shows, increases the actual costs.
The resource potential of the organization is the resources available to the participants in the corporate relations of the organization.
That is, these are the resources that the organization can potentially receive to carry out its activities.
The employees of the company have 24 hours a day, which they can potentially give to the company. They have no more, regardless of our desire. In accordance with the employment contract, the employee can give the company 8 hours of his time. And this is part of the resource base of the company. More cannot be asked of him. But you can negotiate with him, promising additional benefits - wage increases, additional payments, promotion or loyalty of the head (read - not dismissal with a reduction in staff). Thus, we can increase the resource base of the company.
Shareholders have money, some of which they transferred to the company by purchasing shares. But you can offer shareholders to purchase additional shares and, thereby, increase the resource base of the company.
The resource base of the organization - the resources transferred to the organization by the participants of corporate relations.
The resource base determines the possibility of implementing the target function of the organization. If any resources are not enough, then it is impossible to fulfill the target function.
The value of resources lies in providing the selected activity with the necessary components for the production and sale of goods, generating income that pays for the costs of resources with a profit sufficient for expanded reproduction.
At present, the approach to resources is often defined as only costly components of activity, which is fundamentally wrong and distorts their role and significance.
Resources are the sources of income of the organization, focused on meeting the needs of consumers or generating demand in the chosen field of activity. Thus, the management of an organization is an activity based on attracting, creating, using economic resources to ensure effectiveness and efficiency, that is, it is an activity based on economic resources.
The performance of activities directly depends on resources for the following reasons:
The need to have sufficient resources for the production, sale of the product, management of activities (the composition of certain resources).
Purposeful impact of human resources on materialized to obtain a product.
Receiving income from the sale of the product to the consumer.
Competitive positions in the consumer market and resource markets (opportunities to attract high-quality resources) Pereverzev MP. Management: Textbook / M.P. Pereverzev, N.A. Shaidenko, L.E. Basovsky. - M.: INFRA-M, 2005. - S. 122 ..
Performance efficiency is the optimal exploitation of resources, which is expressed in maximizing income over resource costs. Costs are the cost of the resources expended to obtain a result, that is, the costs must be effective, that is, recouped by income, capital growth. Efficiency is ensured by the economic essence of resources in management, they generate (predetermine) income, but costs are necessary to obtain them Subbotin A. Labor costs and cost / A. Subbotin // Director of IS. - 2004. - No. 7. - S. 44-54 ..
The effectiveness of management activities directly depends on resources for the following reasons:
The quantity and quality of attracted resources, their productive interaction, which determines the profitability of the activity: revenue, income from financial and investment activities, cash inflow.
Quantities, costs of used resources, which are measured (estimated) by resource costs: cost, expenses for financial, investment activities, cash outflow.
The difference between the income from the exploitation of resources and the costs of their attraction and use gives a positive financial effect (profit, capital growth, net discounted cash flow).
Efficient use of resources provides the company with cost leadership in the industry, that is, strengthening competitive advantages in the markets.
Attracting investments in business when assessing the quality and productivity of company resources by investors Subbotin A. Labor costs and cost / A. Subbotin // Director of IS. - 2004. - No. 7. - S. 44-54 ..
Resources are the main productive forces that form the financial, market, social results of activity.
The role of resources in business is not only to ensure the effectiveness and efficiency of activities, but also to create competitive advantages.
Competitive advantages in resources for superiority in the markets are:
In attracting better, more productive resources than competitors.
In possession of exceptional, limited resources.
In the creation of unique resources inaccessible to other market participants.
In the formation of a system of resources that ensures high performance and efficiency.
Entrepreneurial ability.
Companies with competitive advantages in resources, especially if they are protected in some way, make excess profits.
Given the above, it can be argued that management based on economic resources plays a key role in the implementation of any activity. Without a rational resource system, efficiency, effectiveness and competitive advantage will be at a lower level compared to the opportunities provided by this practice.
The development of an organization's strategy is not limited to the costs of fixed, working capital, labor resources, and time. Information and intellectual resources are of great importance. The development and implementation of strategic decisions presuppose the possession of vast information - selected, systematized and analyzed throughout the entire period of activity. There is no strategy without information, but the information resources of an organization are closely related to intellectual resources - an organization must have personnel who are able not only to develop another business plan, but to determine trends in the development of the external environment, the prospects for a particular business, form directions for the development of an organization, justify the need concentration of funds for strategic purposes.
The possession of strategic, in fact, resources allows an economic entity to fundamentally determine the nature of their use in relations with the external environment of the organization. An organization is a rather complex system that acquires, connects, consumes, reproduces and distributes various types of resources Melnikov V.P. Organization management / V.P. Melnikov, N.L. Marenkov, A.G. Skhirtladze.- M.: KNORUS, 2004. - S. 188..
Resource provision affects all spheres of activity of economic entities and, of course, has always been an object of management. However, the backlog of theoretical developments from management practice at the present stage is explained by the rapid emergence of new types of resources, sources of their formation and methods of evaluation. New resources require adequate methods, technologies and rules for resource support of organizations.
The problems of resource provision in modern Russia are largely due to the previous decades of total domination of state property, when economic entities exchanged resources (including commodity ones) within the framework and according to the rules of a single owner, and all responsibility for losses fell not on their leaders, but to the state. Such organizations, in principle, could not go bankrupt, so the management of resource exchange and resource provision as a specific activity was not considered either in theoretical or practical aspects.
At present, economic entities in Russia have switched to new conditions for the exchange of their resources and are forced to be fully responsible for the management decisions made with their assets. However, there has not yet been a consensus on the theory of resource provision.
Resource provision is one of the most important functions, the implementation of which determines the level of development of any economic entity and the effectiveness of its functioning. The study of its patterns is required for the rational, efficient and timely formation and distribution of resources necessary to carry out work in all cycles.
Despite its paramount importance, resource provision as a “thing in itself” is not the goal of the organization. The task of the activity is to achieve the most significant public or local results at the lowest cost, thus including two subtasks. The first consists in the formation of strategic goals and directions of socio-economic activity, maximizing its effectiveness. The second - resource provision refers to production and reproduction, distribution of necessary resources, minimization and rationalization of costs.
Resource support cannot be reduced only to the formation of sources of activity of an economic entity. This process is much broader and turns out to be cross-cutting in relation to the strategic management of activities in general. The emergence or elimination of the most important problems of the organization's management depends on the resource provision strategy, for example, preventing the formation of organizational barriers or conflicts of interest, stimulating efficiency improvement.
The study of the mechanisms of resource support for the organization's activities creates the necessary basis for developing the concept of resource management. The resource provision mechanism is a system of institutional elements necessary for the distribution and redistribution of resources by economic entities and their structural divisions, as well as the transformation of resources from one form to another.
The directions of resource support for the organization's activities, on the one hand, are determined by the financial, human, material and other resources that it has today, and on the other hand, by the intellectual resources and innovations that it intends to introduce in the future, as well as opportunities to attract investment sources.
Resource support for an organization's activities is a complex process of mobilizing, accumulating, distributing resources, as well as implementing planning, control, monitoring and other procedures aimed at the efficient and rational use of resources and risk reduction in the activities of an organization Frantsuzova M.A. The essence of the resource support of the organization / M.A. Frantsuzova // Russian Economic Journal. - 2007. - No. 5. - S. 11-17 ..
The development of the topic of resource potential develops within the framework of established areas strategic planning and management, such as financial management, personnel management, logistics, business planning, etc. As a result, a rich toolkit has been accumulated for assessing the capabilities of an organization in various fields its activities, but at the same time, there is a lack of complete coverage and a systematic approach to presenting the structure of the resource potential.
The structure, which today presents knowledge aimed at assessing the resource potential of the organization, does not allow the manager to quickly assess the capabilities of his organization, identify weaknesses, or, conversely, discover and evaluate internal reserves for taking new steps in market activity. The main reason for this situation is the lack of a clear structure that would have a relationship not only with the process of strategic management, but also with the organizational structure of the organization.
Thus, it seems necessary, on the basis of the accumulated market tools, to present a model that most fully and clearly reflects the essence of the organization's resource potential, as well as allowing a clear representation of its elemental structure.
It is reasonable to assume that resources of the same quantity and quality may have different potential depending on the degree of their use. Thus, the resource potential characterizes not only various types of resources, but also the degree of their use, their ability to create a useful effect.
As a result of the interaction of blocks of the management system, resources and the block of activity, functional areas are formed that make it possible to draw an analogy with the organizational structure and a line of interconnection with the functions of various organizational units. Thus, this structure allows you to determine the full set of functions of a particular structural unit of the organization. At the same time, all areas of activity are fully covered, from research to the use of marketing tools for interaction with the market and social activities, which, in particular for organizations, are fundamental.
In the process of the organization's economic and financial activities, its resources interact, while bringing certain results in the form of products manufactured, services provided, work performed and proceeds from their implementation; income, profits, etc. The results obtained are a real basis for the development of the process of resource formation at a new qualitative level and for the economic growth of the organization.
At the first stage, the organization forms the total costs associated with the formation of sources of resource formation. This may include the costs associated with servicing various types of debts, opening an organization, negotiating the formation of sources of resources, one-time costs in the form of capital investments, the costs of acquiring raw materials, materials, etc.
The second stage is the transformation of resources into goods and services.
At the third stage, the aggregate costs associated with the renewal of resources on an expanded basis (ie, with a profit) are formed. This is due to the sale of goods to consumers Frolov S.S. Sociology of organizations / S.S. Frolov. - M.: Gardariki, 2001. - S. 56-57 ..
Thus, resource management is a necessary condition for improving the quality of management financial flows organizations, because any element of the resource base, one way or another, has an impact on the formation, speed and consistency of these flows. From these positions, resource management is an activity carried out by an organization in order to make the best use of available resources. The criteria for optimality may vary depending on the goals of the organization, among which, in particular, we can name:
* satisfaction of material and other needs of shareholders;
* profit increase;
* increase in capital (property) of the organization;
* improving the financial condition of the organization as a whole and its structural divisions;
* increase in activity volumes;
* minimization of the use of certain types of resources Frolov S.S. Sociology of organizations / S.S. Frolov. - M.: Gardariki, 2001. - S. 58 ..
Modern resource management technologies use the budget system (cash flow budget, income and cost budget, forecast balance sheet, etc.), as well as the financial reporting system as a tool for monitoring the main results of the organization's activities, as well as their deviation from the planned ones.
Based on this, we believe that the introduction of new technologies for managing the resources of an organization must be combined with the use of existing ones, adjusted to take into account new forms of relationships between business entities. The organizational and economic mechanism for managing resources in an organization should include the following elements:
* a management structure that corresponds to the adopted mechanism and allows for prompt planning, control and corrective actions based on available data and has a clear system of distribution of powers along the vertical;
* management tools - a multi-level budgeting system and a system for compiling consolidated financial statements of the organization;
* management personnel trained to work with new technology;
* technical support of the resource management system.
To build a new resource management structure, it is necessary to be based not only on the organizational structure of the group, but also to make a functional division of the elements of the managed organization based on criteria, resource management tasks - by financial accounting centers. This division of the organization is carried out according to the links with which accounting is associated.
Thus, the development of a unified mechanism for resource support for the activities of organizations is necessary in order for Frantsuzova M.A. The essence of the resource support of the organization / M.A. Frantsuzova // Russian Economic Journal. - 2007. - No. 5. - S. 17.:
1) create a new structure for managing aggregate resources;
2) improve accuracy in forecasting total resources;
3) create an alternative use of resources. In this case, the concept of scarcity of resources is transformed into the concept of the relativity of resources, i.e., the presentation of resources as cumulative allows you to develop alternative programs for their use (covering all aspects of the economic activity of the organization), from which the most effective option development of an economic entity;
4) more accurately identify shortcomings in the economic activities of the organization that affect the growth of total costs and reduce the efficiency of resource use;
5) effectively use the mechanism of tax planning in the organization;
6) on a newer, qualitative basis, use risk management methods to reduce the financial and economic risks of an economic entity;
7) improve the accuracy of setting goals in the development of various strategies for the development of the organization, the critical volume of implementation, the minimum required resource support and the maximum allowable total costs.
Moscow Automobile and Road Institute
(State Technical University)
Department of Management and Logistics
Coursework in the discipline "Management"
Topic: "Resource Management"
(settlement and explanatory note)
Option No. 390(13)
Completed by: group student
Molchanov D.N.
MOSCOW 2003
Section I. Using a single-product model of resource management with variable demand.
Theoretical part.
Basic information from the theoretical course.
In the resource management models considered earlier, the demand for resources (goods, products, etc.) was assumed to be constant throughout the entire operation cycle (planning period). batches of resources with their subsequent delivery to the central warehouse, from which small wholesale deliveries are made to the relevant consumers. However, along with the above, situations arise when the demand for resources differs significantly from the constant one, i.e. in fact, resource consumption occurs unevenly over time, with varying intensity. The use of models with constant demand in such cases will inevitably lead to failures in the distribution process. Moreover, in some situations, failures will occur due to the lack of the necessary resource in the required quantity, and in others - due to excessive reserves. As a result, the functioning of such organizational and economic systems will be associated with increased distribution costs, which is equivalent to the loss of a certain amount of profit and, as a result, a slowdown in development. To eliminate these losses, the procurement and supply process must be carried out within the framework of a resource management model with a variable intensity of demand. This model assumes that the assessment of storage costs is carried out according to the maximum level of stock in time for the period T, and the intensity of demand (consumption) is given by a continuous deterministic function of time
, determined on the interval Т=(t 0 ,tn) Estimation of storage costs according to the maximum level of stock of the resource during the period Т reflects a rather typical situation for practice, when a fixed area (volume) is allocated in the warehouse for storage of resources according to a certain nomenclature assigned to resources of this type. After establishing the size of this area in a given period, the costs of storing this type of resources are constant, independent of their actual level, which at some points may be less than the size of the allocated area. The problem of optimal resource management within the framework of this model is reduced to the following. It is required to determine the volumes, quantity and moments of supply of batches of resources in such a way that, subject to the satisfaction of the total demand given by the demand function in the volume of the total need Q t, the minimum total costs for storage and replenishment of the stock of resources are achieved. In mathematical terms, this problem can be formulated as follows (1)provided
where n is the number of supplies, S is the unit cost of supply, C T is the unit cost of storing resources in the warehouse, V i (t i-1) is the volume of supply, t is the time of supply. Moreover, the record V 1 (t 0) means that the first supply of volume V 1 is carried out at the beginning of the interval T, i.e. at time t 0 , and V 2 (t 1) means that the second supply of size V 2 is carried out at the next time t 1, and so on. Since the next delivery is carried out at the moment when the stock level drops to zero, then the relation takes place
, (2)
It makes sense to consider only the case when the supply volumes are equal, since the optimal control strategy lies only in this area. Therefore, the expression will take place
Then the objective function (1) can be simplified and presented in the following form
(3)By differentiating and equating the resulting expression to zero, we can obtain the following formula for determining the optimal number of deliveries
(4)
Taking into account the natural requirements of the integer value of n opt, one should check the inequality
(5) where is the integer part of the value n optIf the inequality is satisfied, then the value is taken as the optimal number of deliveries
. If the inequality has the opposite meaning, then the value
. Based on a certain optimal number of deliveries, the optimal size supply equal to (6) To determine the optimal delivery times
expression (2) is used. The calculation process is iterative and is organized as follows. At the first step, the value of t 1opt is calculated from the relation 
At the second step, based on the determined value of t 1opt, the value of t 2opt is calculated using the relation
Thus, in each i-th step of this iterative procedure, based on information about the previous delivery moment t i -1, the optimal i-th delivery moment t i opt is calculated using the expression
Practical part
Option number 13
Initial data:
The total need for some kind of resource for the interval T is determined by the formula
PC.Specific storage costs C T =0.4 c.u., and the cost of one delivery S=170 c.u. Let us determine all the parameters of the optimal procurement and supply management strategy in this case and the minimum of the total distribution costs. Since the intensity of demand in this case is variable, then these parameters will be determined within the framework of the considered model of resource management with variable demand. Therefore, we determine the optimal number of deliveries
Economics (business) is the art of satisfying boundless needs
with limited resources
(Peter Lawrence)
Business Model:
Goal - decisions - actions = result / effectiveness.
The goals are embodied in an effective result, subject to entrepreneurial abilities, the right decisions and the right actions, based on the skill and art of combining resources to obtain a product, selling it at a profit.
Decisions are made through strategy and implemented through actions (business processes), based on and on the basis of possible resources. Implementation of decisions requires specialization of knowledge and labor, coordination of efforts, synergy of resources to increase efficiency (income) and efficiency (profit). This is achieved by the organization and management of processes and resources (tactics), as well as the operational management of specific business processes and resources in real time. Therefore, the topic of resource management is of an exclusively fundamental nature and is one of the key to business success.
Business scheme:
Vision- what, to whom, where, why:
1. Consumer, need, request, alternatives, perspectives.
2. A product that satisfies the consumer's request. consumer value.
3. Market: the number of consumers, geography, supply, places of sale of goods, promotion.
4. Market limits to reach: geography, competition, buyer's budget, alternatives to meet the need, resources.
Goals– concretization of the vision into specific parameters (planned results) according to the projections: consumers, product, market:
1. Number of consumers: where, when.
2. Number of sales (number of consumers x number of purchases): where, when.
3. Cost of sales (number of sales x price): where, when.
Strategy achievement of goals (how, due to what, when): the path of options, business processes for the production and sale of goods, resources, capital.
1. For the purposes of producing goods: nomenclature, assortment, place of production, packaging, delivery methods, technology, quantity, quality.
2. Production requires technology, resources: composition, quantity, productivity, sources, financing, cost.
3. For sale in the market: technology, sales channels, logistics, advertising, promotion, government orders.
4. For sale, resources are needed: composition, quantity, productivity, sources, financing, cost.
5. We compare the volume of sales with the sum of the costs of direct resources according to the strategy, and determine the margin.
Strategy: income, costs, margin.
Tactics- managing the implementation of the strategy (decisions and actions). Tactics to ensure the rationality and effectiveness of the implementation of the strategy through organization and management:
1. Necessary actions in the external environment (obligations to the state, communications, and others).
2. Control functions for the production and sale of goods. Technologies of organizational and managerial processes. Indicators.
3. For tactics, indirect resources are needed: composition, quantity, productivity, sources, financing, cost. The estimates take into account the variable and semi-fixed nature of costs.
4. Comparing the strategic margin with indirect costs, we obtain strategic profit (profitability).
Tactics: providing income, profit.
Strategy and tactics are one.
Operational actions– implementation of tactics in the direction of strategy in business processes:
1. Decisions are made guided by strategy, based on tactics, taking into account the realities of the present, but looking to the future (Assets - Liabilities). The focus on optimizing resources and their costs is taken into account.
2. Actions are carried out on the basis of decisions (set tasks) and allocated resources within the framework of business processes.
3. As a result of actions, the set goals are achieved or not achieved. Analysis of deviations, causes and effects. Correction, change of decisions, actions, tactics, strategies.
Based on the business scheme, we can conclude that the resource system (resource management model) should be considered in three aspects:
1. Strategic aspect - how many and what key resources are needed to achieve the set goals, how decisions will be made on opportunities and limitations in resources.
2. Tactical aspect - how much and what resources are needed to organize and manage business processes to implement the strategy, how actions will be taken to synergize resources into income and profit.
3. Operational aspect - how the strategy and tactics will be implemented in practical actions (business processes). Theory into practice. How resources are transformed into products of activity that generate income and profit.
The concepts and terms used in the article are given in Appendix No. 1.
--------------------
Resources - a set of funds (cash; stocks; property; competencies; know-how; sources of funds, income, and so on) that are necessary and can be used in business processes: the creation, production, sale of goods, as well as the management of these processes. That is, resources turn business opportunities into reality.
Resources are like seeds for the harvest. What you sow is what you reap: first choose a field, you need to sow the seeds, then take care, fertilize, then harvest and store it, then a new cycle. In this case, all factors must be taken into account: the external environment, the quality of seeds and soil, the amount of planting material, fertilizers, watering, etc. The point is to harvest more than planting material and the cost of growing it.
Types and structure of resources.
| Resource types | View Structure |
| Material resources |
materials Technological services from outside Accessories Purchased goods from outside |
| Intangible Resources | Licenses, patents and other rights Know-how, innovation Software |
| Human Resources | Leaders with Entrepreneurial Abilities Qualified employees Competences (knowledge, skills, abilities) Techniques and methods of work Communication of employees with external counterparties |
| Production and technical resources |
Natural resources Buildings, structures Means of production Infrastructure Manufacturing technologies |
| Financial resources | Equity Borrowed capital Cash Deferred payments |
| Informational resources | Sources of information Information on consumers, market, production, sales Industry information Database Ways and methods of information processing Information processing tools |
| Commercial Resources | Buyer Relations Supplier Relations Relations with partners Sales networks |
| Organizational and managerial resources | Strategy Strategy Implementation Management System Organization of business processes Organizational structure Organizational procedures Management infrastructure Management Information Management technologies Supply system Planning system, resource allocation Control system Measurement and evaluation system Motivation system |
| Administrative resources | Relationships with state and local governments Fulfillment of government orders Participation in the business of state structures |
| Time resources | Time horizons for making and executing decisions Efficiency in decision making Labor intensity of operations |
| Other Required Resources | Depending on the characteristics of the business |
The complex composition of resources is unique for each specific business, so it is necessary to model their composition and interaction in the resource model.
Resources do not work on their own, but in interaction, the influence of some on others in the system, that is, creating additional, synergistic properties. At the same time, the resource system must be balanced, that is, the resources must correspond to the strategy in terms of quantity, quality, and productive properties, since their overall performance will be determined by the weakest point.
For use in practical activities, it is necessary to classify resources according to their impact on the business.
Resource classification:
In relation to the role in the activity: strategic (key, from the strategy, determine income and development), tactical (not necessarily exceptional, necessary), operational (within the year).
By participation as a result: those who influence (human, financial resources) and those who are affected (material and intangible resources).
By influence on the product: direct - indirect.
By the impact on production volumes: variable - constant.
In relation to business processes: market, production, commercial, managerial.
By time: long-term use, short-term use, consumed immediately.
By resilience: renewable, non-renewable.
By financial role: active, passive (capital, borrowed funds).
By product: resources for product 1, resources for product 2.
By value: accumulated (land, competencies and others) - non-accumulated (consumed in the course of activities).
1. Resource strategy (direct, variable resources)
Strategy business - the choice of ways and means to achieve goals, the necessary courses of action on critical success factors, how to achieve goals, based on available resources and capital.
The purpose of the strategy is to measure and evaluate the possibilities of realizing the vision.
Strategy projections: consumer, product, market, resources, capital.
The strategy translates into results through entrepreneurial abilities, relying on tactics (organization and management) and implementing specific operational decisions and actions.
The strategy chooses a path to achieve goals from options, the main directions of action to conquer consumers and the market are being developed.
The resource strategy is part of the overall strategy, which specifies the possibilities for implementing a combination of consumer, product and market strategies.
Resources are defined by the product and the business processes to obtain it. The product is the cause, the consequences are the actions, the actions are the cause, the resources are the consequences.
Resources: name (type), source, method of obtaining, quantity, quality, productivity, cost.
The resource strategy defines strategic, key resources that provide development, and competitive advantages, production and sale of goods in the volumes established by the strategy.
A resource strategy is needed:
For purposefulness, construction and business development, its success.
To understand how business drivers affect results and performance.
Determining resource opportunities and comparing them with long-term constraints. To understand from what criteria to make decisions to obtain strategic results.
To clarify the quantity and quality of key resources (which determine the implementation of critical success factors) in terms of their capabilities and limitations.
Decision making.
Working with resources involves actions in three main areas:
1. Attraction of necessary and sufficient resources for the implementation of the strategy.
2. Use (application) of resources in activities (tactics).
3. Increasing the resource base for the reproduction and development of activities (investments).
The design of the resource strategy is carried out according to the scheme:
Based on what - incoming information.
Than - methods, tools.
Like technology.
The result is what comes out.
Strategic resources are planned in a resource strategy based on consumer, product and market strategies, based on critical success factors and VRIN properties (See Resource Based View - Resource Theory of the Firm (Barney) /12 manage.com): resource value (Valuable), resource rarity (Rare), imperfectly imitable, non-substitutable.
Critical success factors: Winning a customer, producing an in-demand product, dominating the market, having sufficient resources, capital gains.
The resource strategy establishes the need for key resources that determine business development.
The resource strategy also formulates the tasks, principles and conditions for attracting the necessary resources, as well as ways to attract and finance them.
The resource strategy consolidates the need for resources in the implementation of three main strategies (consumer, commodity, market), specifies the key factor resources necessary and sufficient to obtain the planned results, determines the quantitative, qualitative and cost parameters of strategic resources, serves as the basis for testing the real possibilities of implementing the main strategies and developing a strategy for increasing the cost of capital.
More details in the articles "Resources - the main factor of efficiency and effectiveness", "Strategic management of economic resources".
The resource strategy answers the questions: what, how much, how we attract, what will give, what will it cost.
The resource strategy establishes:
1) Need for resources - determination of the structure (list and composition) of necessary and sufficient strategic resources.
2) Marketing resources (research, description).
3) Measurement and evaluation of resources - how much resources are needed for strategic volumes, geography of activities. The quality of resources, their impact on critical success factors and performance indicators.
4) Determination of sources of resources. Resource risks.
5) Establish ways to attract.
6) Determining the cost of resources.
7) Calculation of marginal income.
1) Need for resources (what and when).
Work with resources begins with determining the need, what resources are needed for the successful development of the business, that is, a system of the company's strategic resources is being designed.
Under strategies and critical success factors, the need for strategic resources is determined.
Strategic resources are the key economic resources that ensure the implementation of the strategy in sufficient volume and quality. Based on the resource strategy, the strategy of capital growth is substantiated, both as a source for attracting resources and as a result of their use.
The need for resources is determined based on:
Business development strategies (consumer, commodity, market): quantity of goods, quality of goods, sales revenue, nature of the external environment, industry specifics, types and scope of activities, market share by stages of strategy implementation.
Typical structure of resources.
Resource classifications.
Methods for calculating resources.
In the system of needs, a list of resources is indicated, the impact on results through interaction and a combination of resources, taking into account the classification.
1. Based on the input information, a list of resources is compiled that is necessary and sufficient for the strategic volume of production and sale of goods.
2. The role and importance of each resource for the implementation of the strategy and the formation of critical success factors for the activity is determined. Key resources are allocated - the most significant for results and benefits.
| Composition and structure of strategic resources | Resource options (from classification) |
|
| | |
|
| | |
2) Resource marketing.
According to the composition of resources, a study of the external market is carried out.
Resource marketing goals: knowledge about resources, receive information about changes in the markets, provide competitive positions - increase opportunities, prevent threats in terms of quantity, quality, cost of resources.
Marketing factors by resources:
Availability of resources - the ability to obtain the necessary resources for strategic activities: market, monopoly.
Limited resources - the ability to attract the right amount of resources.
Quality of resources - compliance with goals, objectives (ensuring achievability), business processes.
Offer range.
Ownership (and/or controllability) of resources, protection of advantages in resources.
Resource pricing.
Terms of supply of the resource.
Resource Marketing Technology:
1. Type of resource - object.
2. Description of the parameters, characteristics of the resource.
3. Environment: external, internal by resource.
4. Factors affecting the resource.
5. Market projection: segmentation (sources, suppliers, structure, saturation and other aspects), market positioning.
6. Market analysis: dynamics, prospects, competitors, prices, risks, benefits and more.
7. Conditions for attracting, obtaining a resource on the market.
8. Ways to attract, obtain a resource.
9. Strategy and tactics of actions in the market.
10. Market monitoring: who is responsible, who is responsible.
11. Evaluation of the effectiveness of the strategy and tactics of actions in the market - performance and efficiency indicators.
The main sources of external information on resources are:
- publications of national and international official organizations;
- publications of state bodies, ministries, municipal committees and organizations;
- publications of chambers of commerce and industry and associations;
- collections of statistical information;
- reports and publications of industry firms and joint ventures;
- books, messages in magazines and newspapers;
- publications of educational, research, design institutes and public scientific organizations, symposiums, congresses, conferences;
- price lists, catalogs, brochures and other company publications;
- materials of consulting organizations.
Methods of analysis of the external environment: PEST analysis, SWOT analysis and other methods.
Research methods:
- observation;
- experiment;
- group studies;
- qualitative research;
- review studies.
Based on the conducted research, a strategy and tactics of actions in the resource market are developed.
Strategy - a scenario of how to achieve goals in the resource market:
1. Ways to achieve goals from alternative options.
2. Factors (driving forces) that determine the achievement of goals along the way.
3. Methods used to implement the paths.
4. Program of strategic efforts (activities) in ways.
5. Determining the necessary and sufficient resources for the implementation of the program. Choice of the main course of action.
6. Results of the implementation of the strategy.
Strategy is backed by tactics.
Tactics consists in carrying out actions: appointing persons responsible for strategy and tactics, monitoring the market, implementing the strategy, evaluating the effectiveness of marketing according to established indicators.
3) Measuring and evaluating resources - how much resources are needed for strategic volumes, geography of activities, quality of strategic resources.
The measurement and evaluation of the amount of resources is carried out on the basis of:
Business development strategies (consumer, commodity, market): quantity of goods, quality of goods, sales revenue, industry specifics, types and scale of activities, market share by stages of strategy implementation.
Business models - technologies of business processes for the production and sale of goods.
Resource classifications.
Methods for calculating resources: mathematical, economic, formulas for calculating indicators.
Measurement and evaluation is also carried out on the basis of financial reporting standards (IFRS, GAAP). In addition, for measurement and evaluation, causal investigative links, methodologies for analyzing economic and market indicators (balanced scorecard, ABC, CAMP, EVA, return on capital, discounted cash flows, market share, and others), mathematical methods. The choice of indicators, systems, evaluation methods is determined by the company.
The assessment of the competitive opportunities of strategic resources is carried out according to the VRIN criteria according to the concept of "resource based view" (resource theory of the firm):
1. The value of resources (Valuable).
Ensures the effectiveness and efficiency of the implementation of the strategy, which either exceed the achievements of competitors or reduce their own weaknesses. The meaning of value is that the operating costs associated with investing in a resource cannot be higher than the future discounted income streams envisaged by the strategy.
2. Rarity of resources (Rare).
A company's scarce resources - resources that most competitors don't have - can be sources of competitive advantage. In a competitive resource market, the price of a rare resource will reflect expected discounted future flows above the industry average.
3. Imperfectly imitable.
The reasons for this: unique historical conditions, ambiguous causal relationship, social complex. If only one firm manages a valuable resource, it can be a source of competitive advantage. This advantage can be sustainable if competitors cannot perfectly duplicate this strategic asset.
4. Non-substitutable
Competitors should not have strategically comparable valuable resources to replace. The irreplaceability of the resource is ensured even if the resource can be reproduced, but the cost of replacement nullifies the economic benefits of competitors.
Technology for measuring and evaluating resources:
1. Based on the input information, using calculation methods, the quantitative and qualitative parameters of the resources necessary and sufficient for the strategic volume of production and sale of goods are determined by the stages of the strategy implementation.
2. Options are determined according to the possibilities of attracting a different amount of resources.
3. Quantitative and qualitative indicators of the use of resources are established. Factors influencing the achievement of factors are established.
4. Criteria for making decisions on resources in quantitative and qualitative aspects are developed. Financial strategy and policy.
5. Benchmarking* of resources is carried out and possible changes in the attraction of resources are evaluated.
6. The design of needs can be carried out by methods from top to bottom, from bottom to top, as well as both. The use of various methods makes it possible to improve the quality of design by using the competencies of employees of different job positions.
The technology is implemented by in-house and/or third-party experts using selected methods and tools.
* Benchmarking(English bench mark - starting point) - a method of using someone else's experience, advanced achievements of the best companies, divisions of one's own company, individual specialists to increase the efficiency of work, production, and improve business processes; based on the analysis of specific results and their use in their own activities. Allocate: competitive benchmarking- comparison of their products, business processes with analogues of direct competitors; functional benchmarking- comparing the effectiveness of individual functions (for example, logistics, personnel management) of companies in the same industry, not necessarily direct competitors; general benchmarking- analysis and perception of best practices of companies operating in other industries; internal benchmarking- comparing the performance of different departments of the same organization and the perception, implementation of best practices, business processes.
Benchmarking - a method of control; a special management procedure for introducing technologies, standards and methods of work of the best analogue organizations into the practice of the organization. The benchmarking process seeks organizations that show the highest performance, training them in methods of work and implementing best practices in their own conditions.
By measuring and evaluating, we obtain quantitative and qualitative indicators of the need for resources. The amount of resources depends on the strategic scope and scale of activities, types of activities, quantity and types of goods produced. In strategic measurements and assessments, one should not strive for absolute accuracy of calculations, this is laborious, and therefore costly. In addition, during the implementation of the strategy, there are constant changes in the external and internal environment, which will affect operational assessments. In this case, it is important to assess the possibility of implementing the overall business strategy.
The results are summarized in a table.
| Name of resources | Number of resources (in units, indicators) | Resource quality options (indicators) | Quantity Factors |
| | | |
|
| | | |
4) Resource sources.
Sources of attracting resources are determined on the basis of:
Composition and list of required resources.
Business models - technologies of business processes for the production and sale of goods.
Marketing information on resources.
Data on the quantity and quality of the required resources.
After establishing the need for resources, it is necessary to determine the sources of attracting resources: where, from whom, under what conditions it is possible to ensure the flow of resources.
Resource sources can be external or internal. At the same time, it is necessary to take into account the factors, principles, methods, criteria on the basis of which the choice of sources is made, and relations with them are built. Sources of resources must be reliable, long-term, capable of ensuring business growth.
Fundraising principles:
Resource source selection criteria:
Own, from the side.
Longevity.
Dependence (diversification), controllability.
Optimal price and quality of the resource.
Terms of transactions.
Reliability, reputation, source risks.
Conditions for attracting resources for activities:
Availability of resources – the ability to obtain the necessary resources for strategic activities.
Resource sufficiency – the ability to attract the right amount of resources.
Quality of resources - compliance with goals, objectives (ensuring achievability), business processes.
Rationality of attraction and use (justified, paid off with income).
Ownership (and/or controllability) of resources.
Resource advantage protection.
Parameters for attracting resources:
Yield.
The need for business processes.
Quantity.
Quality.
Price.
VRIN properties.
Consumption rate.
Others depending on the resource.
Ways to attract resources:
Acquisition, purchase, exchange.
Rent, free use.
Hiring, civil - legal relations with personnel.
Outsourcing.
Investments.
Equity participation, mergers and acquisitions.
Development, creation.
Technology for determining resource sources:
1. Based on the input information, are determined possible sources obtaining resources (suppliers) necessary and sufficient for the strategic volume of production and sale of goods according to the stages of the strategy implementation: own, from outside.
2. Estimates of the profitability of alternatives are made: buy, produce yourself, other ways to attract resources.
4. Options are evaluated based on criteria, principles, conditions, parameters. The possibilities of obtaining the necessary resources and the proposals of suppliers are assessed in terms of the quantity, price, quality of the supplied resources.
5. Strategic partners are identified.
The technology is implemented by in-house and/or third-party experts using selected methods and tools.
The results are summarized in a table.
| Name of resources | Resource sources | Selection Criteria Grades | Price offers |
| | | |
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| | | |
5) Resource cost.
The cost of resources is estimated by the direct method, by the offer price and by the alternative method.
When assessing the cost of resources, cost optimization is taken into account.
The construction of a resource cost optimization system is carried out in a certain sequence based on resource and process modeling.
Optimization technology - development of a resource model (resource view):
1) The development of the model is carried out in the resource strategy, based on the composition of the necessary resources to achieve strategic goals. The model is compiled for each resource.
2) Structure of the model: role in the strategy; the productive value of the resource in generating income; resource costs; resource organization; resource management; formation of resource assets and liabilities to finance the resource; practical use of the resource.
3) According to the structure of the model, dependencies are established in the formation of the effectiveness and efficiency of resource use: the impact on income, relations with other types of resources, the composition of cost elements, the classification of costs (cost matrix).
4) Factors that have a significant impact on the amount of costs are determined: quantitative, qualitative, cost.
5) Alternative ways of attracting resources (forming assets), committing costs in obtaining results are evaluated.
6) Choose the best option. An algorithm for the "work" of costs is compiled.
7) Organization and cost management.
Stages 1 - 5 serve to understand how each resource affects income, what types of costs ensure their receipt. Since it is more important to prevent wasted costs than to deal with cost inefficiencies, it is necessary to organize and manage resources and, as a result, their costs. Stages 6 and 7 are aimed at this.
To clarify the cost of resources, identify reserves of effectiveness and efficiency, a process, technological approach is additionally used:
1) Based on the business model and business process engineering, it is determined in which business processes the resource is involved: production, sales, management.
2) The role of the resource and the dependence of costs on productivity, the effectiveness of business processes, the impact on the interaction of processes are revealed.
3) Based on the technologies of business processes and the analysis of dependencies between costs, costs and income, costs and an increase in the cost of capital, a refined calculation of resource costs (technological perspective) is made. This uses the collection of information on the level of costs for a certain period of time (management reporting, external data, accounting, surveys, surveys, etc.) and the methodology for calculating quantitative and cost indicators, taking into account financial reporting standards.
4) Cost optimization is carried out according to the selected methods (see Optimization Methodology) and using the methods BCG, SWOT, ABC, CVP, ZBB and others. Identification of the effect of factors on the actual level of costs, from which sources of financing, both in the process and technological perspectives. Evaluation and measurement of factors based on IFRS and risk management methods, discounted cash flows and others.
5) Strategic and tactical cost estimates are compared with estimates obtained in process and technological design in absolute and relative terms, as well as with the fact of past years, with industry data, competitors. Corrections are being made.
6) Approved grades are documented.
7) On the basis of the systems of organization and management, practical activities are carried out to use resources and make costs.
The resource perspective allows you to study the resource, as such, as a means necessary to achieve the goals of the chosen strategy of action.
The process perspective allows you to create an algorithm for the participation of a resource in a set of business processes, to understand the mechanism of its influence on performance (income generation) and efficiency (profit generation). The resource is tied to business processes - how it participates in creating business value (product, income).
The technological perspective is used to calculate natural, cost estimates for the costs of the necessary resources, their dependencies with the volumes and scales of activity.
Scheme (table) of angles for cost optimization.
| Resource View The value of the resource for the activity, the composition of the resource | Process view Participation of the resource in business processes, role in performance and efficiency | Technological perspective Calculation of resource costs in business processes, determination of needs, schedule for providing resources |
| Goals - strategy | Participation of resources in a complex of business processes (operations) | Calculation of costs by business process technologies |
| Resource base of the strategy (composition, resource factors, sources of resources, financing of resources) | Cost factors in business processes (operations) | |
| Resources - costs (factors, classification, cost methods, choice) | Technologies for executing business processes (operations) | |
| Resource organization | Comparison with strategic and tactical assessments, clarification and approval of assessments | |
| Resource management | Distribution and assignment to business processes (operations) | |
| Formation of assets and liabilities | Cost monitoring in line with changes | |
| Use of resources in business processes for efficiency and effectiveness | | |
The direct method consists in comparing the prices of suppliers according to the evaluation criteria.
An alternative method is to evaluate the performance of a resource for a strategy, comparing prices by different ways attracting resources, the cost of giving up something.
The cost of strategic resources is determined based on:
Composition and list of required resources.
Data on the quantity and quality of the required resources
Data on resource sources.
Cost estimation methods.
Technology for determining the cost of resources:
1. Based on the input information, the cost of a unit of each resource or an assessment of the type of resource for the strategic volume of production and sale of goods is determined by the stages of the strategy implementation.
2. A comparative analysis of the cost of resources by various methods is carried out over the ranges of dispersion.
3. Information is collected on suppliers. Information is being analyzed.
4. Estimates are given on the basis of a conservative approach (the maximum cost is the pessimistic option), the minimum cost (the optimistic option) and the average option.
5. The total cost of necessary and sufficient resources is calculated.
The technology is implemented by in-house and/or third-party experts using selected methods and tools.
The results are summarized in a table.
| Name of resources | Number of resources | The cost of resources under the conservative option | Cost of resources under the optimistic variant | Cost of resources in the middle option |
| | | | |
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| | | | |
6) Marginal income.
Term marginal income(MD), from English. marginal revenue is used in two ways:
Marginal revenue is the extra revenue that comes from selling an extra unit of a good.
Income received from sales after recovering variable costs. In this case, marginal income is a source of profit generation and covering fixed costs.
The formula for calculating marginal income (marginal profit):
MD = Revenue - Variable Costs
Thus marginal income is a fixed cost and profit.
Marginal income is especially interesting if the company produces several types of products and it is necessary to compare which type of product contributes more to the total income. To do this, calculate what part is MD in the share of revenue (income) for each type of product or product.
The division of costs into fixed and variable, the calculation of marginal income allows you to determine the impact of production and sales on the amount of profit from the sale of products, works, services and the sales volume from which the company makes a profit. This is done on the basis of the analysis of the break-even model (the system "costs - volume of production - profit").
Break-even point analysis is one of the important ways to solve many management problems, since when combined with other methods of analysis, its accuracy is quite sufficient to justify management decisions in real life.
Profitable and cost parameters of strategic resources are compared to establish indicators of the effectiveness and efficiency of the chosen strategy:
Revenue in the strategy by stages minus direct resource costs.
Calculations based on the resource strategy show the justification of the chosen strategy.
2. Tactical resources (indirect resources, conditionally permanent)
The strategy cannot be implemented by itself, the implementation of the strategy must be managed, that is, to carry out actions towards goals, division of labor, coordination of interaction, balancing, control and other functions that ensure the implementation of the strategy. This is served by tactics - a system for managing the implementation of a strategy.
The purpose of tactics is to combine the strategic vision (consumer - product - market), means of achievement (resources and capital) in business processes with control actions.
Tactical control actions are carried out through systems of organization and management. The essence is the transfer of objects (consumer, product, market) from the initial state (setting goals) to the desired one (achieving goals) for the minimum possible time and optimal expenditure of resources subject to legal, risky, moral and other restrictions.
K. Marx: "Any directly social or joint labor carried out on a relatively large scale needs, to a greater or lesser extent, management, which establishes coherence between individual works and performs general functions arising from the movement of the entire productive organism, in contrast to the movement of its independent The individual violinist manages himself, the orchestra needs a conductor."
The structure of the tactical control system:
Organization systems:
Goal setting.
Development of a strategy for achieving goals.
Business process system: division of actions into operations, determination of the necessary means of production, qualification of workers for the complexity of processes and operations.
Decision-making and action execution system - organizational structure for strategy, business processes, delegation of rights and responsibilities, allocation of resources.
The system of corporate standards - rules and procedures for making decisions and carrying out actions within the framework of strategic goals, tasks of structural units, their functional responsibilities.
The system of selection, placement of personnel within the organizational structure.
The system of creation and provision of means of production, labor (jobs, business infrastructure).
The system of providing materials, raw materials and other resources.
Control systems:
Systems of management functions: marketing and monitoring of the external environment and markets and others..
System of functional substantiation and provision of decisions and actions.
Planning and budgeting system.
A system for measuring and evaluating business transactions, assets, liabilities and other aspects of activity.
System for collecting, processing and providing information.
The system for monitoring and analyzing the results of activities, the implementation of the strategy.
The system of motivation and incentives for performance results.
The system is the relationship between the constituent elements that create additional properties that are not inherent in the elements separately. To effectively achieve results, you need to understand and provide links between elements in a single system.
The purpose of the system is to:
Comprehensively and systematically evaluate, organize, manage a business to implement the strategy and interests of shareholders, investors, creditors, and personnel.
Effectively satisfy the consumer due to the quantity, quality, price of goods.
Increase business value by creating and consolidating market, commodity, human, technological, organizational, managerial and financial capital.
Ensure worthy positions and competitive advantages in the consumer market, resource and capital markets.
Monitor the implementation of the strategy for correctness, effectiveness, adaptation to changes.
Tasks of the control system:
2. Communication with the external environment of activity (necessary actions in the external environment: market research, obligations to the state, communications, transactions and others).
3. Separation of decisions and actions between control centers. Coordination of efforts and interaction of centers.
4. Distribution of resources between business processes, control centers. Balance of activity.
5. Preparation of decisions. Provision of necessary and sufficient resources for the decisions made.
6. Optimization of resource costs and capital growth.
7. Motivation of personnel in the implementation of goals and the effectiveness of achieving results.
8. Perception of present and future changes.
Tactics determines the need for resources to organize and manage the strategy through the governing business processes.
Tactics - issues are resolved:
1) In what processes, what resources to direct.
2) How much (in physical and cost terms) to direct. /IFRS, ABC and other methods/
3) When - the time factor.
4) Funding sources - alternatives.
5) Measurement and evaluation of resources (assets - liabilities; income - expenses).
6) The results of the use of resources: financial, market, social indicators.
Principles of using resources:
Cost optimization.
Ensuring profitability.
Protection of competitive advantages.
Opportunity development is an investment in the future.
Resources for management are indirect, conditionally constant, do not directly depend on the volume of activity, increase at certain levels of change in scale. But they have a strong impact on the exploitation of strategic resources and can significantly reduce their effectiveness and efficiency due to unproductive costs. Management resources can form a return in the form of good - villa: brand, recognition of investors.
Tactical tasks of using resources:
1) Clarification of the need for resources, taking into account the system for implementing the strategy.
2) Connection, interaction, mutual influence in the system of resources.
3) Optimization of the use of resources - the cost of tactical resources.
4) Preservation and development of the quality of resources for performance, efficiency, retention and enhancement of competitive advantages.
5) The efficiency of the use of resources in the implementation of the strategy, taking into account the management system (tactics).
1) The need for tactical resources.
The need for tactical resources is calculated by analogy with strategic resources, while matching resources are specified, additional resources are added. See Strategic Resource Needs.
The need for tactical resources is determined based on:
Business process management. Technology.
Need for strategic resources.
Marketing information on resources.
Reference books, classifiers for labor.
Methods of calculation.
Demand detection technology:
1. Based on the input information, a list of resources necessary and sufficient for management business processes is compiled.
2. The role and significance of each resource for management tactics is determined. Key resources are allocated - the most significant for results and benefits.
3. Qualitative criteria are established for resources for the implementation of the strategy and the implementation of business processes.
4. The design of needs can be carried out by methods from top to bottom, from bottom to top, as well as both. The use of various methods makes it possible to improve the quality of design by using the competencies of employees of different job positions.
The technology is implemented by in-house and/or third-party experts using selected methods and tools.
The results are summarized in a table.
| Composition and structure of tactical resources | Role and significance for activity - role as a result (strategy, product, management) | Resource options (from classification) |
| | |
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| | |
Measuring and evaluating tactical resources, determining sources, costs are based on the methodology for establishing strategic resources.
2) Connection, interaction, mutual influence of resources.
The resource management system must ensure the connection and interaction of resources in the direction of the goals and to create a product.
Resources need to be managed not only individually, but also taking into account their technological connection, mutual influence, and interaction.
When designing a connection, cause-and-effect, technological relationships between resources are considered, optimization of the use of resources is carried out in different projections of strategy and tactics, with a focus on performance and efficiency.
The connection and interaction of resources is determined based on:
Business models - technologies of business processes of production, sale of goods, activity management.
Marketing information on resources.
Structures and classifications of resources.
Management methods BSG, Lean production and others. For more details, see the article "Three Pillars of Business".
Interaction Design Technology:
1. Based on the incoming information, links and dependencies are established within strategic and tactical resources, as well as between resources in business processes.
2. The factors that determine the interaction of resources, the most significant for the results, are determined.
3. Methods and tools for integrating the connection and interaction of resources through the control system are selected. Read more in the article "Three Pillars of Business", "4 Model of Resource Management".
4. A technology is being developed for connecting and interacting resources in business processes to optimize performance (addition and multiplication of resources).
The technology is implemented by in-house and/or third-party experts using selected methods and tools.
Interaction design is reflected in the table.
| Name resource | Connection with other resources (from to.) | Impact on performance |
3) Optimization of the use of resources (costs).
P. Drucker - The essence of cost control is not to reduce costs, but to prevent them.
Thus, the purpose of optimization is to prevent unnecessary costs, and the point is that the costs are effective (bring income) and efficient (bring profit).
Optimality (from Latin optimus - the best) - the best way economic behavior, economic action.
Optimization- determination of the values of economic indicators at which the optimum is achieved, that is, the best state of the system. Most often, the optimum corresponds to achieving the highest result with given resource costs or achieving a given result with minimal resource costs.
To optimize costs means to create a resource management system that provides maximum performance at the required minimum cost in synergy with other resources.
The goal of optimization is to spend on what is necessary to generate income, spend as much as leads to capital growth.
Optimization is carried out in the direction:
The need for resources for income and activities, business development (future income).
The quality of resources needed to generate income and profit.
Quantity and cost of required resources. Labor productivity.
Rationality of use: alternatives, organization and management, level of means of production, methods and techniques of labor, qualifications, consumption rates.
As a result of optimization, a clear picture should be obtained, an algorithm for the formation of costs by factors, through specific methods and application of methods, with a description of the impact on profitability at a minimum level of costs that ensure the achievement of strategic goals.
Optimization formula:
Guided by the strategy and tactics of the business, the resource management system, in the areas of optimization, applying criteria, methods and classification, using methods, determine the system for the formation of resource costs in the processes of activity, ensuring effectiveness and efficiency.
The key point in optimizing the cost of resources is a focus on productivity (to receive income), and not on costs.
Resource cost optimization is based on:
Calculation of strategic and tactical resources.
Marketing information on resources.
Structures and classifications of resources.
Resource management competencies.
Technologies of connection and interaction of resources.
Methods for calculating resources: mathematical, economic, formulas for calculating indicators. Indicators on the use of resources.
Information on innovations, best practices and techniques of labor, management, means of production and other information that can optimize resource costs.
Optimization Model:
Type of resource _ Factors of productivity and efficiency of the resource (causal relationships) _ Cost structure (generating factors) _ Optimization by cost type / Who (control center), What (methods, methods, utility criteria), How (technology) / _ Organization costs _ Cost management
Cost optimization design technology:
1. Based on the incoming information, the optimization model establishes directions, criteria, methods and methods for cost optimization.
2. The factors and dependencies that determine the costs are determined.
3. Strategic and tactical resources are compared, methods, methods and tools are used to rationalize processes and operations (absorption of doubled costs, optimization of jobs, infrastructure, personnel, etc.).
4. Calculations of the need for strategic and tactical resources are being refined.
The technology is implemented by in-house and/or third-party experts using selected methods and tools.
4) Preservation and development of the quality of resources for performance, efficiency, retention and enhancement of competitive advantages.
The resource management system must provide for the conservation and development of resources. The goal of development is innovation and investment in new opportunities, reducing threats, strengthening strengths, overcoming weaknesses, and optimizing risks.
Increasing resources - benchmarks: revenue, goodwill, competitive advantages, competencies, product improvement, production improvement, sales improvement, development of relationships, mergers and acquisitions and other opportunities. The build-up is carried out by systematic actions for each resource, and by connecting them for synergy.
Resource development is based on:
Resource management systems (resource strategies and tactics).
Calculation of strategic and tactical resources.
Business models - technologies of business processes: production, sale of goods, activity management.
Marketing information on resources.
Structures and classifications of resources.
Technology of connection and interaction of resources.
Indicators on the use of resources.
Information on innovations, best practices and techniques of labor, management, means of production and other information on the productivity and quality of resources.
The results of the analysis carried out in the development of resource strategies and tactics: PEST, SWOT, risk, VRIN qualities and others.
Management methods BSG, Lean production and others. For more details, see the file "Three Pillars of Business".
Theories of investments.
See "Resources - the main factor of efficiency and effectiveness", "Strategic management of economic resources" for more details.
Resource development technology:
1. Based on the incoming information, directions, stages of development of the qualities of resources are established.
2. The need for investment in development is calculated.
3. Sources of investment financing are determined.
4. Business processes in the management system are being specified, the organizational structure is being adjusted.
The technology is implemented by in-house and/or third-party experts using selected methods and tools.
The development of a resource management model seems complicated and time-consuming, but this work is actually an investment project carried out in planning a new business, reorganizing an existing one, that is, it is an integral part of developing a business strategy and tactics. Subsequently, the model is only adjusted depending on the introduction of significant innovations, changes in activities in terms of methodology and calculation of resource parameters. That is, the tool itself lasts a long time.
The cost of modeling the resource base is paid off by the effect of increasing the productivity of resources, optimizing (preventing) unjustified costs, the possibility of obtaining a goodwill, and ensure the prospects and sustainability of business development.
Resource system modeling and operational management of resources can be carried out using ERP systems. The main problem is that such an application of the system should correspond to and take into account the specifics and individuality of the business, and not adjust the organization and management of the business to standard Information Technology. Since this does not bring benefits and efficiency, and often disorganizes activities. Systems for business, not business for systems.
5) The efficiency of the use of resources in the implementation of the strategy, taking into account the management system (tactics).
After developing tactical resources and clarifying the total number and cost of resources for the implementation of strategic development, the overall effectiveness of the chosen strategy is determined.
The efficiency of resource use is calculated by comparing the marginal income on strategic resources and the planned costs of tactical resources and the amortization of investments in the development of resources, as a result, the profitability of the strategy is revealed:
Marginal income minus the cost of tactical resources = profit from the implementation of the strategy
Business profitability is assessed using benchmarking, discounted cash flow, opportunity cost. If this assessment is acceptable to business owners, then the strategy is put into practice. If not, then alternative options are analyzed or the business is abandoned.
3. Operational resource management
Operational resource management is to be guided by strategy, relying on tactics, to carry out actions in business processes using the resource management model. Operational resource management consists in the formation of a resource base, the direction of resources into business processes, their combination into a product, the sale of a product, obtaining effective results, ensuring the continuity of these processes (number of turnovers).
1. Goal - strategy - tactics: what we want to achieve, when, what we do.
2. Resources for the implementation of strategy and tactics: what will we achieve, due to what. Resources are means that form the result of activity through decisions and actions (business processes). Resources have the ability to create, when properly combined with entrepreneurial abilities, a value greater than their cost.
Resource base definition:
2.1. Composition of resources necessary and sufficient.
2.2. Resource factors:
2.2.1. Resource productivity - role in the product(s).
2.2.2. Natural productivity (amount of resource).
2.2.3. Profitability (productivity) of the resource (quantity x price; economic value added; cash flow).
2.2.4. The value of the resource (uniqueness, rarity, competitive advantages, market position, others).
2.2.5. The time the resource was used.
2.2.6. Resource cost.
2.3. Classification of resources by their impact on the result (income).
2.4. Sources of resources, risks.
2.5. Sources of financing resources, risks.
3. Cost of resource costs: cost, opportunity cost (what to refuse).
Determination of resource costs:
3.1. The composition of the costs of which the resource consists.
3.2. Cost factors:
3.2.1. Necessity for the resource that creates the product of the activity.
3.2.2. The number of costs in natural terms.
3.2.3. The cost of costs in terms of value.
3.2.4. The time it takes for a resource to be consumed by a cost. Including taking into account the value of money.
3.2.5. Methods for measuring and estimating costs.
3.3. Classification of costs by the impact on the resource.
3.4. Ways to implement costs: independently, from the outside; immediately, gradually; other.
3.5. The choice of the optimal cost formation model: from the volume of resources - revenue maximization; from the volume of income - minimization of costs.
4. Resource organization: who is responsible, makes decisions, according to what rules, who and how provides, as a resource between processes (control centers), as interaction.
Organization:
4.1. Engineering of business - processes, technology of their implementation.
4.2. Business structuring - organizational structure. Organizational structure: supreme governing bodies, scheme of control centers, regulations on centers, staffing, job descriptions.
4.3. Rules and procedure for making and executing decisions, interaction within the organizational structure - a system of corporate standards.
4.4. Providing resources for business processes.
5. Resource management: who plans, who evaluates, based on what, who controls and how, how engagement and application are stimulated.
Control:
5.1. Monitoring the external environment that affects resources.
5.2. Marketing of foreign markets.
5.3. Resource planning.
5.4. Measurement, evaluation of resources and costs.
5.5. Formation of information on resources and costs.
5.6. Control and analysis of the effectiveness and efficiency of resources.
5.7. Motivation for effective and efficient use of resources.
6. Formation of assets and liabilities - financial balance.
7. The use of assets and liabilities in the practice of producing and selling a product (goods) through the use of organization and management of activities: income - expenses, cash flow, financial indicators (liquidity, turnover, financial stability, and others).
Operational resource management consists of the following tasks:
1. Making the right operational decisions, guided by strategy, based on tactics, taking into account the present situation, predicting the future.
2. Carry out the right actions to implement decisions based on rational business process technologies.
3. Ensure the timely and uninterrupted attraction of the necessary and sufficient resources.
4. Distribute resources between business processes and control centers. Coordinate and balance the use of resources.
5. Collection, processing, provision of information based on measurements and evaluations of decisions, actions, results. Comparison with planned indicators, analysis of deviations, causes and consequences.
6. Monitoring of external and internal changes that affect the implementation of the strategy, decision-making. Adjustment, if necessary, of strategy and tactics.
7. Ensure interaction between control centers in the use of resources: organization (structure, rules, technologies); motivation; psychology.
8. Control and analysis of activities.
9. Reliance on personnel and finances.
10. Development of the resource base on the basis of investments.
The organization and management of resources should ensure:
Rationality - the availability of resources in terms of quantity and quality for the implementation of business processes, business development.
Optimality is the expenditure of resources in sufficient and required volumes to get targeted results.
Efficiency - focused on goals, create a product of activity.
Efficiency - resource costs are paid off by income and are positively evaluated by investors (revenue, profit and goodwill).
Operational resource management is expressed in the financial model of resource management:
Resources = Assets _ Liabilities _ Income - Expenses = Results (profit, goodwill, net cash inflow).
Operational resource management scheme.
Operational management ensures the circulation of resources in activities: assets are formed at the expense of liabilities (costs), assets are consumed by business processes, turning into a product, the sale of products generates income, the difference between income and expenses increases (reduces) liabilities, an increase in liabilities (capital) is invested in assets minus the payment of remuneration.
Operational resource management technology.
1) Formation of assets and liabilities.
Assets (assets) - a value expression of the totality of resources controlled by the company, used in activities in order to generate income and profit (economic benefits). Assets show an increase in economic benefits in the form of an inflow or increase in assets, or a reduction in the company's liabilities, which is expressed in an increase in capital.
The formation of the company's assets is based on:
Resource systems (strategic and tactical resources).
Business process systems: development and production of products (goods), sales, organization and management of activities.
Liabilities financing opportunities.
Principles of asset formation:
1. Accounting for strategic needs.
2. Correspondence of the volume, level and structure of the formed assets with the volume and processes of development, production, sales of products, and activity management.
3. Optimization of assets to achieve efficiency.
4. Ensuring the acceleration of the turnover of assets, payback in the processes of activity.
5. The choice of progressive types of assets for the growth of the market value of the company.
Criteria for asset formation:
Alternative – possible solutions.
Selection of the best option based on optimality criteria that are set by the company.
Reasonable assessment of resources from the standpoint of: economic, market, technical, legal, personnel, risk and others.
Compliance with strategy, goals. Comparison with competitors.
Growth of market opportunities.
Measurability of resources: natural, cost.
Resource performance.
Efficiency - the product sold to the consumer (quantity, quality, benefits).
Financial result: revenue, profit, return on invested capital and others.
Asset indicators:
Performance.
Cost is quality.
Form: non-current, negotiable.
How and how much income.
How and how much to spend.
Goodwill education.
Assets can be formed centrally and decentralized if rights are delegated on the basis of budgets.
Ways to attract resources:
Acquisition, purchase, exchange.
Rent, free use.
Hiring, civil law relations with personnel.
Outsourcing.
Investments.
Equity, M&A.
Development, creation.
Others.
When forming assets, it is necessary to determine the sources of their attraction: where, from whom, under what conditions it is possible to ensure the flow of assets. Sources can be external and internal. At the same time, it is necessary to take into account the factors, principles, methods, criteria on the basis of which the choice of sources is made, and relations with them are built. Sources must be reliable, long-term, able to ensure business growth. In operational management, the sources established for strategic and tactical resources are specified, specified, taking into account the specific situation in the markets, information, and changes in conditions. The choice is made on the basis of optimal performance, asset quality, cost, taking into account the present and future situation. Actions are being taken to formalize relationships with resource providers.
In addition to the sources of resources, it is necessary to take into account the sources of their financing, that is, through which liabilities the assets will be attracted.
Types of liabilities:
Equity.
Borrowed capital.
Deferred liabilities.
The choice of sources (liabilities) is carried out based on the following criteria:
Type of asset.
The value of the liability.
Expected return on assets.
Financing term.
The possibility of attracting liabilities.
Asset management needs to address the following issues:
How much, when and what kind of non-current assets are needed, the cost of these assets.
How much, when and what working capital need, the value of these assets.
How much and when you need money.
How to rationally use resources for the production of goods, its sale.
Where and how to invest for additional profit.
How to value assets.
Due to what to form assets: capital, liabilities.
How to accelerate the turnover of assets.
Landmarks in decision-making on assets:
1. The quality of assets is designed according to the strategy: products, volumes, production level in the future. Replacement, modernization. People under technology, production level. Indicators: productivity, costs, turnover, liquidity, level, manufacturability, material consumption, etc.
2. Business processes: types of activities, types of goods, consolidation into common business processes. For example, a marketing department with the same infrastructure, but for different products.
3. Evaluation, measurement of the impact of resources on results in financial and non-financial indicators for decisions, control, motivation. Decisions are more informed, evaluated and measured.
4. Optimization of resource costs.
5. Decisions are prepared through checking financial and non-financial indicators, strategic assessments, taking into account business processes.
6. Activities will be balanced in decisions, processes, driving forces. Business strength is determined by the bottleneck.
2) Distribution of assets between control centers (business processes).
Who _ To: HEI of the executive directorate (strategy, annual plans); executive management to decision centers, decision centers to action centers according to the organizational system.
When - before the start of the planning period in the strategic plan, current plan, delivery schedules, resource creation.
Based on what:
Organizational system, including business processes.
Selected methods and methods for measuring the quantity, volume of resources: ABC, CVP, ABB, CAMP and others.
Strategic indicators for evaluating performance and efficiency (balanced scorecard).
Assets are distributed through planning and information systems (management), supply systems (organization).
The distribution of resources is the formation of assets according to their purpose, based on the need to:
1. Direct costs to generate income (production).
2. Indirect costs of management.
3. Commercial costs for the promotion of goods, expansion of sales markets.
4. Investment costs for market research, consumer requests; improvement of goods, processes; development and implementation of innovations; resource protection and other purposes.
5. Balancing between the functions of the strategic management system (SMS), business processes in functions, operations in business processes to prevent bottlenecks, loss of market positions and advantages.
Resource allocation technology.
Stage 1 - resources between business processes.
Resources are distributed across business processes. Resources are allocated in the form of assets using the chosen methodology, for example, functional cost analysis (ABC, ABM, ABB), taking into account business process technologies, consumption standards for strategic and tactical resources.
For details, see the file "ABC - ABM - ABB".
| Business processes (functions) Resources | Development (product, technology) | Production (product from elements) | Sales (sales and service) | Total business processes |
|
| Material | | | | | |
| Technical | | | | | |
| Intangible | | | | | |
| Personnel | | | | | |
| Financial | | | | | |
| Other | | | | | |
When allocating resources between business processes, the following criteria are taken into account:
Subgoals from the strategic goals in the context of management functions, taking into account the principles of SMART.
Changes in the external and internal environment.
Strategic indicators for business processes.
Balancing resources to eliminate bottlenecks and weaknesses in the business associated with adjusting tactics or action strategies.
Changes in SWOT - analysis.
financial sources.
Reserves of resources for growth.
By periods, an assessment is made - the actual indicators are compared with the planned levels of indicators in the strategy and tactics. Depending on the results, the directions and volume of resources are adjusted accordingly, but within the framework of the established strategy and tactics.
Stage 2 - distribution of assets between the control centers of the organizational system.
The distribution of assets is carried out based on the distributed assets of business processes.
The allocation of assets to control centers (organizational units) is carried out in proportion to the operations performed by the centers in business process technology, and also taking into account the following criteria:
Center tasks.
Executed business processes (operations). Centralization - decentralization of business processes.
Indicators for operations in the context of departments: labor intensity, material consumption, etc.
The actual level of performance achieved in past periods (if any).
Coordination and balancing of resources to eliminate bottlenecks.
Cost optimization.
Changes in SWOT - analysis.
Market changes and restrictions in attracting resources.
financial sources.
Asset reserves for growth and risks.
Assets are distributed between control centers through planning and information systems (management), infrastructure, supply systems (organization). Operational management in the centers is supported by organizational systems (organizational structure, corporate standards) and management systems (marketing, information, measurement and evaluation, control, analysis, motivation).
Resource allocation table.
| Business processes (functions) Resources | Development (product, technology) | Production (product from elements) | Organization and management (by function) | Sales (sales and service) | Total business processes |
| Total for business processes, Including: | | | | | |
| Division 1 | | | | | |
| Division 2 | | | | | |
| Division 3 | | | | | |
| Division 4 | | | | | |
| Other | | | | | |
Stage 3 - Distribution of resources within the control centers between intrastructural divisions and employees.
When distributing resources within the control centers, the following criteria are taken into account:
Tasks for intrastructural divisions and employees from the tasks of control centers.
Operations performed.
Indicators by departments.
The actual level of performance achieved in past periods (if any).
Asset reserves.
The design of a resource model for the distribution of resources between internal structural units and employees is carried out in the following sequence:
I. Setting targets, establishing performance indicators from indicators of responsibility centers based on the organizational system.
II. Development of the main technological processes or operations for the tasks set within the organizational system based on the processes carried out by the responsibility centers. Structuring of technological processes and operations is carried out on the basis of ISO, tariff-qualification directories, production technologies in the design of the organizational system.
III. Designing the volume of activities in the established indicators (volume of sales, labor intensity of work, and so on).
IV. Establishment of factors for the distribution of resources in terms of performance and efficiency of the activities of intrastructural units and employees based on a cause-and-effect analysis or other selected methods.
V. Development of a mechanism for influencing the mutual influence and connection of resources on the factors of development of intrastructural units and employees.
VI. The distribution of functional resources is proportional to the calculation of quantitative, qualitative and other factors that determine the consumption of resources in intrastructural divisions by employees.
3)Provision (logistics) with business process resources.
Who to whom - executive management (strategy, annual plans) for decision centers; decision centers to action centers, employees. The centers themselves can provide resources in the case of decentralization, that is, delegation of authority to them.
When - constantly in accordance with the order, rules, procedures, plans, schedules for the supply, creation, production of resources.
Based on what:
Resource allocation systems: plans, schedules.
Rules and procedures in the system of corporate standards.
organizational system.
Selected ways and methods of measuring the quantity, volume of resources.
Norms and standards of resource consumption (industry, general, independent).
Concluded contracts, investment projects.
Resource provision includes:
1) Supply of material resources.
2) Development, creation of resources, if they are produced independently.
3) Conclusion of transactions for the provision of services, the performance of work from outside, the acquisition of rights to intangible assets, etc.
4) Hiring, training, retraining of human resources.
5) Communication links.
Logistics system criteria:
Efficiency, timeliness - just in time.
Sufficiency of necessary resources.
Compliance of the quality of resources with the needs of business processes.
Minimum inventory.
Optimality of costs for supply, storage, processing.
Compliance with contractual obligations.
4) Control actions for the use of resources in business processes.
Actions for the operational management of resources consist in the practical application of management systems in business processes carried out in organizational control centers. Application is carried out through the following functions: monitoring the external environment, marketing foreign markets, planning resources, measuring and evaluating the effectiveness and efficiency of the use of resources, generating information on resources, monitoring and analyzing the attraction, use, development of resources, motivation. Functions are directed to the coordination and interaction of resources in business processes to obtain effective results.
The effectiveness and quality of resource management is assessed by indicators:
Resource performance(power - workload, fact):
Number of units / population, power, time
Revenue / headcount, time
Quality of resources (assets):
Economic Value Added (EVA) / Assets
VRIN Assets / Assets
Net profit - Profit standard (industry average profit, income on government securities, income on deposits) = excess profit
Actual net profit / Normative profit
Surplus Profits / Assets
Adjustment of balance sheet assets for off-balance sheet assets:
Human resources (for example) = 10 years x PHOToklad.
Assets VRIN score:
There are in assets: fixed assets, intangible assets and others,
Not in assets: personnel, information, administrative, know-how, commercial (market share, number of consumers compared to potential) and others.
Resource Yield:
Revenue / Resource Cost (Adjusted Assets)
Revenue / Margin Assets (Resource Cost - Fixed Costs, Management Resources)
Net Cash Inflow / Cost of Resources (Assets)
The ratio of direct and indirect resources depending on the industry
Assets:
Changes in assets: growth, decrease by item, discounted valuation or adjusted for inflation
Non-current assets: (income - depreciation), growth, decrease by item, discounted valuation or adjusted for inflation
current assets: (+ inflows - outflows), growth, decrease by items, discounted valuation or adjusted for inflation
Current assets: number of revolutions = Revenue / OA
Which assets at the expense of which liabilities and taking into account the cost of liabilities:
Equity - expected profit > deposit, return on state. securities
Borrowed capital - rate on bonds, bills
Loan - interest on a loan
Deferred liabilities - impact on attraction, investments, liquidity, financial stability
Liabilities:
Liquidity
Financial stability
Structure of liabilities
Return on Equity Profit / Equity
Goodwill:
Market Value of the Assets / Book Value of the Assets
Capital Gains Share Value Growth / Assets
General indicators for resources:
1) VRIN resources (list).
2) Cost productivity of resources.
3) Resource turnover.
4) Profitability of resources.
5) Net cash inflow of resources.
6) Good - villas.
For analysis, other indicators are also used that are considered important for business, including the evaluation of certain types of resources.
In case of achievement or non-achievement of planned indicators, the reasons for deviations are analyzed.
Reasons for low performance:
Wrong vision.
Not the right way to achieve goals.
Lack of resources.
Unsubstantiated ratings.
Incorrect conclusions.
Incorrect implementation of the strategy (action).
Not executing the strategy.
Reasons for low efficiency:
Not proper organization business.
Business mismanagement.
The quality of resources does not match the strategy.
Resource costs are not optimized.
Business processes are not rational.
Main issues related to resources:
There is no resource strategy.
There is no resource tactic to implement the strategy.
The performance of resources is not assessed when they are attracted and used. The income aspect is not considered.
The focus is on operational cost management. Decisions are not made from strategy and tactics, but from actual needs.
Costs are not optimized, but made, then the reduction after the fact.
Resources are not connected by mutual influence, they are not balanced: cost parallelism, low productivity, low profitability, lack of goodwill.
Benefits of using the resource system:
1) A tool for making decisions from a position - looking forward, not looking back.
2) Comprehensive and systematic formation of a resource base for strategy and tactics, rather than chaotic requests from units.
3) Focus on the profitability of resources, their value for business, and not only on the cost of resources.
4) Rational distribution of resources between processes for the balance of strategic development.
5) Control of the sufficiency of the necessary resources to fulfill the set strategic tasks.
6) The economic resource management system is an integral part of the “business immune system” that counteracts the disorganization of activities and negative changes in the external environment.
Benefits of using the resource system:
1) The focus of attraction and use of resources on the effectiveness and efficiency of activities.
2) Optimization of resource costs depending on the focus on profitability and strengthening of market positions, competitiveness.
3) Accumulation of resources for expanded reproduction of capital, increasing the value of the business through goodwill.
Appendix No. 1 to the article.
Assets(assets) - a set of property resources used in activities for the purpose of generating income, profit.
Net assets (net assets value - NAV) - assets formed from equity.
Alternative(French alternative from Latin alter - one of two) - 1) one of the possible options for economic behavior, compared with another option for the purpose of choice better way actions; 2) a management decision that is opposed to another decision that excludes this one.
Business- purposeful activity to obtain financial results.
Budget(English - budget) - the valuation of the resources used in achieving established goals.
Buisness process- a set of managerial, production, marketing and other technological actions that provide a full cycle of production and sale of the company's goods.
Goodwill(goodwill - good will) - an intangible asset, "intangible capital": prestige, business reputation, contacts, customers and personnel of the company, which can be evaluated and entered into a special account. Goodwill is the difference between a company's valuation by outside investors and the sum of its tangible assets recorded on the company's balance sheet.
Action- the process of interaction with any object, in which a predetermined goal is achieved.
Income= result resource connections v processes of production and sale of goods on the market.
Income factors: consumer (who pays), product (what they pay for), market (place and number of consumers).
Expenses(input, expenditures, outlay, costs) are the monetary costs of the resources used in the activities of the enterprise, which the enterprise bears in a certain period of time and which can be attributed to a specific product. Costs are a consequence of the possibility of obtaining income. That network is cause - income, consequence - costs.
Investments- investment of capital in monetary, tangible and intangible forms in entrepreneurial activity with the aim of making a profit.
Engineering(eng. engineering, lat. ingenium) - ingenuity; artifice; knowledge. Business engineering is a set of techniques and methods that a company uses to design a business in accordance with its goals.
Innovation -(lat. innovatio, eng. innovation - innovation) Innovation - innovation in the field of engineering, technology, labor organization or management, based on the use of scientific achievements and best practices. Innovation is the end result of innovative activity, realized in the form of:
- a new or improved product placed on the market; or
- a new or improved technological process used in practice.
Information(lat. information - explanation, presentation). Information communicated in any way that reduces uncertainty in some area.
Infrastructure- (lat. infra - below, under) components of the general device.
Capital(capital) - the accumulated stock of cash and capital goods, as an investment resource for the production and sale of goods in order to generate income. Capital is the main source of wealth, which increases through profit and asset valuation through future income generation. The capital gathers all the value of the business. Capital is an expression of the driving forces of a business, the success of their application, and the recognition of this by external and internal users: consumers, shareholders, creditors, investors, personnel, as well as competitors in the markets. Capitalization is the transfer of newly generated income into capital.
The cost of capital is the cost of raising capital.
Criterion(lat. - kreterion) a means for judgment, a sign on the basis of which an assessment is made.
Marketing (marketing) – market research. The managerial process of meeting the needs and requirements of physical and legal entities through the creation of goods and consumer values.
Method(from the Greek. méthodos - the path of research or knowledge, theory, teaching), a set of techniques or operations of practical or theoretical development of reality, subject to the solution of a specific problem.
Model(lat. Modulus, fr. Modele - measure, sample, reproduction of an object, description, construction, scheme of a phenomenon, process). Conditional image of a control object.
Monitoring(from Latin monitor - reminiscent, supervising) - continuous monitoring of economic objects, analysis of their activities. An integral part of management.
operational management– decision-making and implementation of actions in real time, as part of the implementation of the strategy and the application of tactics of activity.
Organization- I communicate a slender appearance, arrange (lat.) - internal orderliness, consistency of processes and actions leading to the achievement of goals.
Passive(from lat. passivus - inactive) - a set of debts and obligations; part balance sheet, denoting the sources of formation of the enterprise's funds, their financing, grouped according to their ownership and purpose (own capital, borrowed capital, liabilities).
Plan(lat. - planium - plane) - goals and sequence of implementation of certain actions to achieve them.
Indicator- dependency expression. An indicator is an expression of dependency in the system. What describes part of the system. An indicator is a generalized characteristic of the properties of an object or process. The indicator acts as a methodological tool that provides an opportunity to test theoretical statements with the help of empirical data.
Profit- a positive difference between the income received and the cost of obtaining it.
Marginal profit is a positive difference between revenue and variable costs.
balance sheet profit(profit) - the positive difference between income and expenses for their receipt.
Net profit(net profit) – profit to be distributed.
Reason -(lat. causa), a phenomenon that directly causes, generates another phenomenon - a consequence.
Product ( from Latin. productus - produced) - a product that is the result of human labor, ready for consumption.
Process- a set of sequential actions to achieve certain results.
Buisness process is a system of consistent, purposeful and regulated activities in which, through the control action and with the help of resources, the inputs of the process are converted into outputs, the results of the process that are of value to consumers. (A.G. Shugaev) The key properties of a business process is that it is a finite and interconnected set of actions determined by relationships, motives, restrictions and resources within a finite set of subjects and objects that are combined into a system for the sake of common interests in order to obtain a specific result, alienated or consumed by the system itself.
Purpose - goal, task.
What is the technology of action.
From what - materials.
Where - geography, land, premises ...
What are the means of production.
Who is cadres.
How much is laborious.
Duration - term.
Business process indicators:
1. Power (productivity) of the process in quantity.
2. Material consumption - the cost of material resources by quantity.
3. Labor intensity - labor costs in man-days, man-hours.
4. The duration of the process (cycle).
5. Productivity of the process - power output.
6. Process efficiency - productivity in money.
7. The cost of the process - the cost in money.
8. Efficiency (EMF, profit, net cash inflow).
9. The value of the process for income.
Process (in control)- a set of technological operations (actions) to achieve a specific goal (achievement of results).
Result- what is at the end of the activity. Franz . - a consequence of something, a consequence, a final conclusion, a result, a denouement, an outcome, an end of the matter. The result is a clear and precise definition of what should be achieved in realizing the goal. The result is the programmed benefits and benefits of the business for all parties interested in it (owners, staff, consumers, investors, the state).
Efficiency- the amount of goods sold and the amount of income received. The degree of implementation of the planned activities, the achievement of planned results.
Market(market) - a set of existing and potential buyers of goods, services. Market: 1) a place of trade where sellers and buyers meet; 2) an economic system based on the exchange of goods between independent sellers and buyers; 3) place of purchase and sale of goods and services, conclusion of commercial transactions; 4) economic relations associated with the exchange of goods and services, as a result of which demand, supply and price are formed.
resource market– possible places for acquiring certain types of resources, proposals for resources.
Sales- sale of goods (exchange) for the purpose of generating income and profit.
Synergy, synergistic effect (Greek synergós - acting together) - an increase in the efficiency of activity as a result of the connection, integration, merging of individual parts into a single system due to the so-called system effect.
System- a whole made up of parts (Greek) - an interconnected combination of any parts that form a single whole.
System- a set of objects united by the achievement of a specific goal.
Consequence (consequence) - phenomenon, process, circumstance, situation, which is a conclusion from something. The effect is caused by the cause.
Way- sequential order of actions to achieve goals, results.
Strategy - the art of winning, how to achieve goals (desires into reality). Choosing the direction of achieving goals, based on limited resources, ways to maximize results. A strategy is a scenario for how to get income (result).
Structure- a way to combine the components of the system to achieve the goal.
Tactics- the art of warfare, the construction of troops (Greek). Tactics - organization and management of practical actions to implement the strategy.
Technology(Greek art, skill) - a set of methods of processing, manufacturing, changing properties, forms in the process of successive impact on an object. Methods of influence on materials, raw materials by means of production, labor.
Control(fr) - the art of directing to a goal. Conscious purposeful human impact on the objects of activity to obtain the expected results.
Factor- (lat. - factor) making, producing, the reason, the driving force of any process.
Target- this is an ideal, mental anticipation of the result of activity.
Net cash income(net cash flows) - a positive difference between the inflow and outflow of cash. Positive difference \u003d Proceeds from operating activities, investment activities, financial activities (cash flows from operating, Investing, financial activities) minus Retirement from operating, investment, financial activities (cash payment ...)
Efficiency- the relative effect, effectiveness of the process, operation, project, defined as the ratio of the effect, result to the costs, expenses, resources that caused it, ensured its receipt. Obtaining a positive result of certain actions.
Appendix No. 2 to the article.
The methodological base includes:
Resource Based View - the resource theory of the firm (Barney).
Activity-based Economic Resources - an activity based on economic resources (Soldiers).
Core Competence - key competencies.
Product Life Cycle (Levitt) - product life cycle.
BCG Matrix is a product analysis model.
McKinsey Matrix is a business portfolio analysis model.
Knowledge Management - knowledge management.
Critical Success Factors - critical success factors.
SWOT analysis - analysis of opportunities and threats, strengths and weaknesses business.
Business Process Reengineering - reorganization of business processes (Hammer and Champy).
Value Stream Mapping - systematization of the value stream (Ono, Shingo, Jones, Haynes and Rich).
Theory Of Constraints - Theory of Constraints (Goldrat).
IFRS, GAAP - International Financial Reporting Standards.
Result Oriented Management - results-oriented management (Schuten and De Beers).
Balanced scorecard - balanced scorecard (BSC).
Strategy Map - strategy map (Norton, Kaplan).
Activity Based Costing - cost accounting by type of activity (Kaplan, Anderson).
Capital Asset Pricing Model is a financial asset valuation model (Sherpe, Treynor, Lintner).
Absorption Costing - costing by the method of full absorption of costs.
Activity Based Budgeting - planning based on actions.
Value Based Management /value-oriented management/.
Competitive advantage - competitive advantage. Five Competitive Forces - five competitive forces. (Porter)
EM - Economical Margin - economic margin (Obruki and Daniel).
Variable Costing (direct costing) - costing for variable (direct) costs.
Economic indicators:
EBIT - Earnings Before Interest and tax - earnings before interest and taxes.
EBITDA - Earnings Before Interest Taxes Depreciation Amortization - earnings before interest, taxes and depreciation.
EVA - Economic Value Added - economic value added.
CVP - Cost - Volume - Profit - volume, cost and profit analysis.
MVA - Market Value Added - market value added.
WACC - Weighted Average Cost of Capital - weighted average cost of capital.
Other economic indicators.
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