Resource AllocationResource Allocation

ResourcesResources

As a business owner you must assess As a business owner you must assess what you need to get your business what you need to get your business started and keep it goingstarted and keep it going

There are Three Categories of There are Three Categories of ResourcesResources• MaterialMaterial• TechnologicalTechnological• HumanHuman

MaterialMaterial

The materials a business needs in order to operate

Can be consumable or fixed Consumable goods are used up in

the process of doing business. Examples include office supplies, cleaning supplies, etc.

Fixed or capital goods last a long time. Examples include buildings, trucks, and machinery.

Questions to ConsiderQuestions to Consider What tools, equipment and supplies will

you need? Where will you get them? Where will your venture be located? How

much space will you require? What kind of space will you require?

Are you looking to buy or rent a facility (or will your business be operated without a building)?

Will you manufacture the products yourself or hire someone to do it?

How often will your suppliers deliver materials? What return and refund policies do they offer?

TechnologicalTechnological

Technological Resources involving information

technology Examples include: computers,

telephones, Internet, and fax machines

HumanHuman

The people who make the venture work

Internal people inside the venture (i.e. you and the people who work for you)

External people outside of the venture (e.g. accountants, lawyers, bankers

HumanHuman

Internal Create an org chart for the positions within

your company, and shift schedule Include job advertisements, job

descriptions, and where jobs will be posted Will the positions be full or part-time,

permanent or contract?External Who will you need to hire? Include names and addresses

Organizational ChartOrganizational Chart

President Persaud

VP Marketing VP Operations VP Finance

Foreman

Warehouse Worker

Warehouse Worker

AccountantMarketing Manager

Sample Job AdSample Job Ad

www.workopolis.cawww.workopolis.ca www.monster.cawww.monster.ca

Resource ListResource List

What Material, Technological, and What Material, Technological, and Human Resources would a New Human Resources would a New Sporting Goods Store Require Sporting Goods Store Require

Making Your Resource ListMaking Your Resource List

Work with a partner and make a list Work with a partner and make a list of all of the resources that each of of all of the resources that each of your businesses will requireyour businesses will require

Work on one business, then the otherWork on one business, then the other