Read the Case Study above and answer the following questions:
1. In your what are the reasons that most of the firm in real world are not able to use the resources
optimally and not able to get position in business world which they can achieve?
Most of the firms are not able to utilize the resources and they have to compromise their profits.
The companies fail to plan and manage the resources as per the projects. This leads to
misutilization of resources during projects and result in high cost for the company. The firms do
not go for systematic approach in order to achieve the desired goals. Making budgets, setting
benchmarks, making strategies and setting targets to achieve can help organizations properly
utilized the resources. Moreover, the firms do not use technology wherever necessary and they
fail to use the resources management softwares to manage and utilize the resources effectively
and efficiently.
2. Optimal Utilization of the resources is key for success of the business. How optimal utilization of
resources benefits the firm in the long term?
Optimal utilization of resources bring great benefits and prove to be a pathway for the success of
business. Understanding the resources and realizing the importance of using them, properly
planning the resources and utilizing them in effective and efficient manner will not only prove to
be profitable but also cost effective for the company. As the resources will be managed and
controlled properly, there will no conflicts, and the projects will be completed before or within
deadlines. Moreover, revenues will increase, and cost will be minimized which will bring
profitability for the company.
3. What are the future constraints which should be considered by the business in future to enhanced
the productivity of the business and also for optimal utilization of resources?
The firms should properly plan the activities for the projects, keeping the resources, deadline and
outcomes needed in consideration. Improper planning and management of the resources can be
a major constraint for the firms to affect its productivity. Moreover, quality and control should
also be figured out by the companies as it can create hindrance in enhancing the productivity and
optimal utilization of resources. Furthermore, project management should be considered which
will include – scheduling and planning the projects and finding the right route to carry out the
activities that will save cost and time. This will enhance the productivity and will make businesses
successful in future.