Using Resources Strategically

Top 10 best cosmetic brands in India

Festivals and occasions always bring happiness along with the mood of shopping. Every outfit is numb without a perfect touch of makeup...

DRAUPADI & KARNA – The Forbidden Love ?

We know Mahabharata is one of the greatest scriptures of Hindu mythology but it is also the longest poem ever written containing about 100,000...

10 Countries That Are Impossible To Invade

Ever since ancient times, man has fought ardently to establish his supremacy. Man is a highly competitive, extremely narcissistic, and dangerously territorial...

12 most rated romantic movies of Hollywood

Movies are never out of trend, especially when you have a partner and he is also as romantic as you are. There...


Rabindranath Tagore was a man with many talents. He was famously known as ‘Gurudev’ (Master Teacher), ‘Kabiguru’ (Master Poet) and ‘Bishwakabi’ (World Poet). ...

Resources are very limited today and hence using them strategically is very important. Now these can be at micro level like in home management or at a very macro level say for a nation or country. Many scientists have worked in this field thus focusing upon optimum utilization. As per Richard D. Irwin, strategy is a match between what company can do within the universe of what it might do. It highlights organisation’s strength and weakness in view of internal environment & opportunities and threats for external environment.organisation’s strength and weakness in view of internal environment & opportunities and threats for external environment.

So what makes a resource valuable? It is nothing but a combination of three elements:

  • Scarcity
  • Demand
  • Appropriabilty

And thus value is created.

There are many strategic theories that one can consider of resources and their optimum utilization. Some of them are:

  • Porter’s Five Force Model: The structural forces of industry and the industry itself sets the design of what strategy to employ.
  • Core competencies: Skills and collective learning and thus holds that the roots of competitive advantage are within the organisation.
  • Resource based view (RBV): This depends on economic reasoning and sees importance of company specific resources

Further on, there are five tests of valuability for the resources. These are: Test Of Durability, Test of appropriability, Test of competitive superiority, Test of substitutability, Test of Inimitability. Managers should identify, analyse and hence try to make strategies keeping these in mind.

Here are a few points that you can consider while talking about resources and how they should be utilized.

Investing in Resources:

  • Corporate strategy – continual investment
  • Theory Of core competencies
  • Corporate office acts as guardian of “crown jewels”
  • Investing might become redundant hence caution must be taken.

Upgrading Resources:

  • Unavailability or imitated resources
  • Constant up gradation is the need of the hour
  • Approaches:
    • Constantly add new resources
    • Up gradation
    • Alternative forms

Leveraging Resources:

  • Diversification is required.
  • High rewards
  • Possibility of errors
  • Errors:
    • Overestimation of transferability
    • Entry barriers of industry
    • Generic resources


So basically this is the overall idea that one needs to use resources. You must note that the resources or whatever we currently have at our disposal will not last forever and hence appropriate steps need to be taken to use them wisely. A quote to remember in this regard is “We have not inherited the earth from our forefathers but inherited it from our children and hence resource optimization needs to be done”.

Resources need to be used in such a way that all the requirements of today are fulfilled and we don’t compromise with the needs of future. Let us all fight the extreme climate changes that we are facing by saving whatever is left. A combined effort can do wonders and that is what is required right now.

Do like, comment and share! Have something in mind that you want us to cover? Do let us know in the comment section below.

Related Articles

Tips And Tricks To Publish Your First Kindle Ebook Independently.

Do you want to publish a successful ebook without spending money? It's your lucky day. Read more for tips to publish your first ebook.

Salesforce Software – Customer Relationship Management Transitioned

Whoever is working in the sales industry has always had eyes on the Salesforce ecosystem. The word itself triggers so many innovations...

Impact Of COVID 19 On Education And Mental Health Of Students

The word underprivileged did not gain its meaning until Covid-19 hit the education industry. Today all educational institutes, universities, colleges, even tuition...


Please enter your comment!
Please enter your name here

Top 10 Love Stories by Indian Authors One must Read

India is a country where people love to read “love stories”. There are a number of souls who like a romantic Shahrukh’s...

Know about wavy hair for girls

Everybody has a different quality of hair. Nobody is got to the same texture, length or quality as of others. People with...

Jaisalmer- keeping life in the forts of Rajasthan

Jaisalmer, often known as the golden city of Rajasthan, lies in the mid of the state’s heart. It is so-called as all...

Megan Fox: Personal Life, Career, Movies and More.

Shooting to fame because of her timeless beauty and charm, Megan Fox still remains Hollywood's sex symbol till date. More on her views and career here.

Timothee Chalamet: Personal Life, Career and More.

Read all about the third youngest Academy Award nominee in the history of the Academy Awards, Timothee Chalamet, right here.