Introduction to Resources

Resources

Resources are the total means available to a company for

increasingat production or profit, including land, labor, capital,
and raw materials.
Types of Resources

physical resources

conceptual resources
 These resources are known as physical resources. They are
tangible and can be easily identified. Physical resources
physical
usually start from acquisition and are then assembled to be resources
available for use when needed.

The assembly process entails converting an essentially raw

material into a refined form, such as wood, cement, and steel for
building construction. Once these resources have been assembled,
manager strives to maximize their use;videos, and this includes
allocatin space for office use and identifying key areas in the
building plans.
The other type of resource is called conceptual resources are non-
tangible and are considered valuable for what they represent rather
than their physical make up. Money is considered a conceptual conceptual
resource as each paper other or bill represents a specific monetary
value as opposed to the paper where it is printed. The same goes for resources
human resources.

Managers use conceptual resources to manage physical

resources or vice versa. One such example is the use of computers
in organizations. A computer unit, by itself, may cost thousand
of pesos. However, once used, the content saved in those
computer units become even more valuable resources, making the
computer unit irreplaceable.
 conceptual resources
The pictures, videos, and contact list saved in the phone
are considered conceptual resources while the smartphone is
the physical resource (managing the conceptual resources).
In both instances, the conceptual resources identified
are called information.
 Information as a Resource

Information defined as "facts about something or someone that

are provided or learned." Facts are considered relevant truths
which have been validated and identified. Data are considered
facts; therefore, processed data are considered as information
as they are organized in such a way that they have additional
value beyond the value of the facts themselves.
 Characteristics of information

Information, especially digital

Information can be information, is easily
expanded without Although expanded transportable. With the use of
compromising its information can give a the internet and various
integrity. In fact, by having technologies, information can be
more detailed sent though any of the following:
additional information, much 1. send via email
more can be understood explanation, it may not
2. share via Facebook
from it. always be needed. 3. copy onto a flash drive
4. upload on YouTube

Expandable Compressible Transportable

Characteristics of information

Since information can be easily

Gossip or rumors tend to spread, it is considered
spread easily. sharable as well. Information
Unfortunately, the can be kept calling it a secret
same applies to any kind However, once a person decides
of information-be it true to tell it to someone, then
he or she will no longer have
or not.
control over it.

Diffusive Sharable
Information is not all different from other resources. Similar to how
physical resources are managed, information is considered valuable and
also has a life cycle. It begins with transforming raw materials into a
finished product-processing data to come up with valuable information.

Just like physical resources, managing information is just as important

as managing any other resource in the organizationsuch as people,
money, and equipment. Information, information -related activities,
technologies, and personnel are also important organizational
resources.
 Characteristics of
Valuable Information
(Stair & Reynolds 2016) :
 a l u a b l e I n f o r m a t ion (Sta
s o f V i r & Re
i s t i c y nold
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C h

Accurate information is error-free. In some cases inaccurate information is

generated because inaccurate data was processed. Analysts call this as Table 4.1 Formal Information vs. Informal Information
"garbage-in-garbageout." By typing"parts of a computer"in the
search bar, Google gives you a list of several websites which contain the Formal information Informal information
information you are looking for.
However, how do you determine which are accurate and which are It is official and authoritative.
inaccurate? Usually, it is better to trust sites that are formal in nature It is meant to be taken It is more casual, and
rather than informal ones such as blogs or forums. seriously and is presented in a less authoritative.
Formal information for your research work could come from technical formal manner.
It is presented in a less
websites as well as academic websites. Pieces of informal information can It is usually more carefully
still be considered accurate as long as they provide enough reference and prepared and verified than
formal manner.
the data can later be verified from the said reference. Bits of informal informal information, and its It is possibly less
information include those from blogs, wikis, social sites, and public forums. accuracy and reliability should reliable.
Nowadays, the use of wikis has become a norm when it comes to also be higher.
information research. The most popular wiki today [Link].

Accurate
 a l u a b l e I n f o r m a t ion (Sta
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c t e r s 20
a r a 16)
C h

Complete information contains all the

important facts. This is especially Information should be relatively
important in the field of medicine. economical to [Link]-makers
Missing information could spell disaster, must always balance the value of
or worse, lead to death. If the information with the cost of producing
Information regarding allergies has been it. With the spread of the internet,
left out, doctors might inadvertently information dissemination has become
give wrong medication that could cause
easier, faster, and a lot cheaper.
severe allergic reactions to the patient.

Complete Economical
 a l u a b l e I n f o r m a t ion (Sta
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Reliable information can be depended on. In many Flexible information can be used for
cases,the reliability of information depends on the different [Link] on the
validity of the data collection method. In other situation, personal information can be used
cases, reliability depends onthe source of for a variety of ways. A school ID can be
information, which brings us back to valuable used to enter the school premises. The
Information being economical.
same ID can be used to transact business
Torrent sites offer piratedsoftware, music, and
with the registrar's office during
movies for free. However, the resolution of the
movie downloaded, for example, might not be clear
enrolment. It can be used toopen a bank
and might even contain malware and virus that account or to apply for a student driver's
could infect the computer system. permit.

Reliable Flexible
 a l u a b l e I n f o r m a t ion (Sta
s o f V i r & Re
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c t e r s 20
a r a 16)
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Relevant information is important Information should also be simple,

to the decision-maker For not overly complex.
example, your assignment calls for Sophisticated and detailed
searching"parts of a computer" information may not be needed
online. You do not visit sites that Complex information may
tackle "parts of the human sometimes lead to confusion
body" because they are which could result in inaccuracy
irrelevant to your research topic. of details.

Relevant Simple
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Timely information is delivered This means that information can

when it is needed. This is true be checked for correctness and
in the case of weather authenticity. Most authors
predictions, stock market include references, bibliography,
forecasts, and traffic or citations in their works to
management. enable readers to verify the
content.

Timely Verifiable
 a l u a b l e I n f o r m a tion (Sta
s o f V i r & R
i s t i c eyno
c t e r l ds 2
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Information should be easily accessible by authorized

users to be obtained in the right format at the right time Information should be secure from access
to meet their needs. In Korea, the U.S., the U.K., and
China,a mobile phone can be used to pay for day-to-day by unauthorized users. Mobile pay
transactions. systems such as Samsung Pay and Apple
A mobile pay app can be downloaded on the smartphone Pay use biometric authentication,
in which the user's credit card or debit card is enrolled
Samsung Pay, Apple Pay, and Google Pay all use near-
typically a fingerprint scan, before a
field communications (NFC) technology so instead of transaction is made. This ensures that
swiping the physical card for payment, the mobile phone only the ownerof the phone can use the
is simply tappedon the card reader or terminal and
app for payments.
payment is immediately recorded (Savvides, 2017).

Accessible Secure
Value of Information
Information is considered valuable mainly for business purposes as
businesses depend on it to produce quality products and services.
This helps organizations become globally competitive and be up to
date with the latest trends and technology.
With businesses gearing towards IT automation, the strategy now is
to come up with business activities that shorten time frames while
increasing productivity. All of this is possible if companies have
access to valuable information.
Valuable information helps managers make good decisions which is
why valuable or useful information is called knowledge.
Information, as a
resource, has four
characteristics:
Zero-marginal cost
The cost of producing the first copy of an
information
good may be substantial, but the cost of producing
(orreproducing) additional copies is negligible.
Avengers:Ageof Ultron released in 2015 is one of the
most expensive Hollywood movies ever made with an
estimated budget of US$250,000,000. However,
buying a DVD copy of the said
movie today would cost about $20 in [Link].
Non-rivalrous
Simultaneous consumption of information by
consumers is possible. Movies nowadays are
sold not only as DVD copies. There are also
digital formats which anyone can watch online
or download on their mobile devices, either as
a rental or paid subscription.
Non-exclusive
Exclusion is not a natural property of information goods,
though it is possible to construct exclusion artificially.
However, the nature of information is that if it is known,
it is difficult to exclude others from its use. Through
emails and calls SMS, one can identify only intended
recipients of the message through a specific email
address or a phone number. However emails and SMS
have the capability of forwarding the exact information
to other recipients, without the original sender knowing
it.
No transparency
To evaluate the information, the information
must beknown, so one has to invest in learning
how to evaluate it. A programmer undergoing
boot camp training to learn anew programming
language needs to invest time, money, and
effort. The more complicated the training, the
more expensive the cost and the longer the
time needed to learn it.
Thank
You