What is Resources – Free Online Studymaterial

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Meaning of Resources

Resources are the means to achieve goals which would yield satisfaction to the individual, family or any other group. The use of resources determines the degree of satisfaction derived from possessing them. For this purpose, Hoyt has developed some guidelines way back in 1938 which stand true even in 2004 twenty first century!

Definition of Resources

Resources of the family are used to achieve family’s goals in management. A lot depends on the way these resources are used. The aim of effective management is to use the family’s resources in a way that will bring greatest satisfaction to the family resources. Resources are available means reaching goals and meeting demands. (Gross, Crandall and knoll, 1980). Resources are assets that can be used to accomplish goals. (Nickell, Rice and Tucker,1976).

Classification of Resources

There are several classification of resources. A number of Management specialists have proposed various system of classifying resources emphasizing either a different characteristic of resources, their function, characteristic of environment, human vs. non-human association or economic elements of resources. No single classification has received universal endorsement by management specialists (Nickell, Rice and Tucker, 1976)

  1. Human and Non-Human Resources

The most widely used classification in home management refers to human & non-human resources. This classification of resources is based on the point of origin.

Human Resources

Example

  • Time an hour, a day A week a life time
  • Energy –Energy to do house work
  • Knowledge – Information needed in selecting clothes, things
  • Interest in Gardening, Music, Reading, Food preparation
  • Skills- painting,  knitting
  • Abilities – intellectual abilities

Non-Human Resources

Example

  • Money, Income, Saving, Share, Wages.
  • Material goods equipment
  • Consumer goods, food furnishing computers community facilities libraries park clubs
  • Energy-Fuels
  • Space-House
  1. Human, Physical and Psychic Capital Resources Classification.

This classification was proposed by Rice (1976). According to him the term capital, means any form of assets used or available for use in goal attainments.

Human Capital – It includes technology, capacity, motivation and time. Technology is both production and consumption technology-skills, abilities and knowledge of each member of the group as well as the education, training and interpersonal environment through which these qualities operate. Capacity means ability to adjust, to innovate and change. Motivation includes power to act or energy.

Physical Capital – It includes the frequency and amount of income as well as purchasing power, elastic income (credit). Wealth such as family property and community facilities such as protective agencies, educational institute, shopping centers and like.

Psychic Capital – It is degree of satisfaction derived from expenditure of human and physical capital. It regulates the amount and quality of other resources required for the satisfaction of all family members.

  1. Ecological Classification of Resources

Since natural resources are becoming more and scarcer, it is appropriate to view management & resource in ecological perspective. According to this classification the environment is composed of three components social, physical and biological.

Social Components – It consists of social organization such as family community and other cultural institution, economic institution, business, industry, banks and political institution different level of government.

Physical Components – It includes manmade objects such as (clothing, furnishing, tools, appliances and dwellings include, less tangible surroundings such as air, light, sound, temperature, humidity and space in this natural tangible surrounding (soil terrain and rain) are also included.

Biological components – They include both human and non human components of the environment.

In this ecological approach to study the family management behavior, Steidle did not actually give a classification of resources. But through the organization of the components of the environment the classification or resources within the environment becomes self-evident, identifiable and easily understood.

  1. Social Linkage Approach to Resources Classification

According to Nickell, Rice and Tucker (1976) social linkage approach emphasized the social orientation of the organization to which the resources belong.

Classification                                                    Examples

1. Personal Resources     –    Abilities and skills, knowledge attitudes.

2. Family Resources    –   Personal resources of all family members,family ritual, equipment and the family’s pattern of wealth.

3. Compeer resources – Social ties friendships between individual and

families and norms and goals.

4. Community Resources –  All social communal resources-police Protection, fire deportment , local government,School systems, churches and parks.

5. National Resources    –   Coal, oil, water, gas, trees and all the natural resources of a nation.

6. World-society Resources           Worldwide organization such as the united nations, international trade agreements, world airways, international social interactional, travel opportunities and ambassadors.

  1. Interdisciplinary, Human-economic, Environmental Approach

According to Nickel Rice and Tucker (1976) this classification has a broader list of resources as given.

HUMAN RESOURCE

Cognitive Resource

Mental traits or characteristics of an individual that are related to practical and perceptual knowledge.

Affective Resources

Traits pertaining to or resulting from emotions and feelings.

Psychomotor Resources

Resources that combine muscular activity with associated mental processes, both ability and proficiency in carrying out activities involving some physical exertion.

Temporal Resources

The minutes, hours, days, weeks and years e.g., clock time, as well an in individual’s characteristic methods of assimilating, using, and perceiving the passage of time.

ECONOMIC RESOURCES

Money Income

Monetary gains within a prescribed period of time, gross monetary receipts to all family members derived from capital or labour, frequency and pattern of such flow to the group.

Elastic Income

Purchasing power, expanded through deferred payment, ability to secure  goods or present services through deferment of financial obligations.

Wealth

The composite of holdings, real property income producing assets, durables and personal possessions of all family members well as the family’s characteristic pattern of asset holdings.

Fringe Benefits

Non money income derived as a consequence of employment and for which the employer pays at least a portion of the cost.

ENVIRONMENT RESOURCES

Physical-Environmental Resources

Natural Tangible surroundings

Elements of the environment that can be perceived by the sense of touch

Non tangible Surroundings

Elements of the environment and climate that are not tangible but are measurable

Social Environmental Resources

Social Organizations

Cooperative human interaction system which influences an individual’s values, standards norms habits, mores, customs and goals

Economic Institutions

The business and industrial establishments that make goods and services available to the public for purchaser or through private membership and that furnish employment and capital investment opportunities to individuals, Economic institution have a profit base.

Political Institutions

Government structures and systems that influence person’s behavior

Community Facilities & Services

Shared resources provided by nonprofit organizations or the Government. These facilities are usually financed through public taxation and support.

  1. Specific vs. General Resource Classification. Liston (1972)

Defines a resource as the properties of an objects, person or circumstances that can be used as means to achieve a goal.

According to this classifications proposed by Liston the space (social as well as perceived as well as measured) time (Clock time, biological time, perceived time and the duration or sequence of time) natural environment and cultural environment are the general resources. Human resources, community opportunities property and income during a given period of time would be considered as specific resources (Liston, 1972).Liston recognized energy as an essential resource intrinsic within so many of the other resource that she hesitated to many of the other resource that she hesitated to list it as a separate and singular dimension of resources complex. This is a fresh approach of the classification.

  1. Economic vs. Non-Economic Resources.

This classification emphasized the purpose to which the resources are appropriate or to which they are allocated. (Gross, Crandall and Knoll, 1980)

It has been generally understood that economic resources are used to achieve goals related to production and distribution rather than consumption. Land labour, capital and entrepreneur. Skills are considered traditional economic resources. In the family economic resources are money, material goods such as tools, productive skills, knowledge, space time and energy used in production, human capital in the form of educated person. The non-economic resources routines, social skills, interests, awareness, privacy loyalty interests and material goods with historical or sentimental value such coin collection. The non-economic resources are rather unlimited specialized, non-transferable and not easy to measure. On the other hand economic resource are generally scare, transferable and measurable. The stock of economic resources available to a person would generally reduce if it is given away but this may not be true with non-economic resource.

Reference

Shukul, Maneesha and Veena Gandotra. Home Management & Family Finance. Dominant Publishers and Distributors. New Delhi. 2006.

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