Characteristics of Resources

Resources , Human as well as Nonhuman, possess certain characteristics which are as follows.

1.USEFULNESS:- Usefulness is one of the most important characteristics of all the resources .All resources are useful. e.g. Money is non-human resource or material Resource which has been used in fulfilling each and every want or need of the family .It is a medium of exchange Money and certain collateral fringe benefits now widely granted to wage earners and people on salary . In a predominantly exchange economy money is a pivotal resource because it is exchanged for communities , services and mechanical power used by every family or individual .

Human resources like skill, knowledge etc. are very important .Many times we are not aware of these resources. This group of resources is very important to the family, for not only are they the means of accomplishing desired ends, but in using them well the group acts together in such a way that common goals seem more real and attainable and the quality of interpersonal relations can be lifted. One can easily underestimate or not be aware of these significant resources. Non-human resources used in family are tangible, more  easily recognized, and some are ardently sought after .Goods durable and perishable property and other investments owned by the family make up a large part of the non-human resources and play an important role in the management process .Community facilities such as parks, roads, schools, certain kinds of  transportation, libraries are many other services such as police protection, markets, medical and health facilities, free musical concerts and other entertainment are also very important and useful.

2.LIMITEDNESS:-Resources are limited . Time has the unique characteristic of being the one resource constant in amount for all. It’s limited supply   , stems from the wide variation from person to person and from family to family in activity patterns carried on in a given period. Limitedness of Resource is of   two types namely Qualitative  and  Quantitative. Human Resources are Qualitatively limited where as Non-human resources are Quantitatively limited .

Different resources vary in their limitations and in accuracy with which these differences can be measured .Time is the most completely limited resource , qualitatively speaking, since no day can contain more than 24 hours , nor can any of these hours be ‘saved’. Limit is same for everyone, although the demands upon it differ among individuals.

Energy too ,  is a limited resource, differing from time in that the amount of energy available varies greatly from person to person. After doing any type of physical or mental work we feel exhausted or tired. After continuing the same work with some rest period we feel energetic to complete that particular work, in a given period of time. While performing any task, various kinds of efforts are used e.g. mental, visual, manual, pedal, torsal effort etc.

Non human resources are limited . Money is one of the limited resources and is difficult to manage things without money. Material goods – food grains, vegetables, other things which we consume are costly and that is reason we use it carefully.

3) All resources are inter-related.
Inter-relatedness of resources is one of the important characteristics of resources. Human as well as human as well as non human resources are inter-related. The use of one resource depends on the use of other another resource. It is difficult to attain your goal in absence of  one, two or combination of resources. E.g. if you wish to attend a embroidery class,  the things you require are combination of resources i.e money for tuition, material, extra time and energy, skill in embroidery, knowledge of colour combination, and different types of stitches etc.interest in embroidery, Thus it can be very well said that there is inter-relationship among all resources. Decisions in family living deal not only with the use of individual resources but with their inter-relationships.In management , the total picture of resources is no doubt more important than the use of  any specific one.It is the sum total of resources available for reaching a particular goal.

4) Managerial process applicable to all resources.
Resources are used to achieve goals by applying to them the managerial process. Managerial process involves three steps planning, controlling-implementation, and evaluation-evaluative feedback .This process is applicable to human resources like time, energy, and non-human resources such as money, material goods etc.

5) Quality of life is determined by the use of  resources
Probably the most important similarity in the use of all resources is that the entire fabric of life is determined by them, whether or not one is conscious of this overall result. Certainly if a person is to be judged by others on the basis of his management of resources, their use should be carefully and thoughtfully determined.

The distribution of resources determines the degree to which a family is actually striving toward a particular goal.It is easy to illustrate the use of resources in achieving certain goals such as maintaining a comfortable home, having a well-fed family or being being suitably clothed for a variety of situations. Time, money energy and knowledge are necessary to fulfill these goals.An individual may verbally claim that the attainment of a particular goal is important to him, but only by the allocation of necessary economic resources to that that goal can prove his sincerity. Their use of resources determines the kind of life has for no goal can be achieved without the employment of resources.