What are the 3 business resources?
APEC is committed to making it easier and more efficient for you to do business in the Asia-Pacific region. This section contains easy-to-use business information and tools and is designed to help you build your business by leveraging APEC's expertise and resources. Show Business does not get done by corporate vision alone; partnerships between the public and private sector are a key step toward ensuring a sustainable, win-win economic environment for all - especially the consumer. You are encouraged to get involved with the APEC process. Your contributions will provide a valuable business perspective on APEC activities and help promote economic growth and prosperity in the Asia-Pacific region. Currently business contributes to a number of key APEC issues from energy to telecommunications and further opportunities exist across the range of APEC activities for business involvement. If you would like to participate in the APEC process, please contact us. Business Resources Business
Travel The APEC Business Travel Handbook is a practical tool which provides a quick reference guide to the visa and entry requirements of APEC Member Economies. It lists the basic eligibility criteria and procedures for applying for visas and the terms and conditions that apply to business travelers. This information is provided for both short-term business visits and temporary residence for business people in APEC Member Economies. Electrical and Electronic Equipment Mutual Recognition Arrangement (EEMRA) Government Procurement Import Regulations Intellectual Property Investment The Investment Experts Group maintains a set of links to investment-related information in APEC Economies and is geared to providing you with current additional information. Standardization and Regulatory Bodies Transparency
Standards All businesses, both for-profit and nonprofit, need resources in order to operate. Simply put, resources are the inputs used to produce outputs (goods and/or services). Resources are also called factors of production. What makes something a resource? For one thing, it needs to be productive.
Natural ResourcesNatural resources have two fundamental characteristics: (1) They are found in nature, and (2) they can be used for the production of goods and services. In order to
provide benefit, people first have to discover them and then figure out how to use them in the the production of a good or service. Examples of natural resources are land, trees, wind, water, and minerals. LaborLabor refers to human resources (also called human
capital)—physical or intellectual. You’re adding to your own human resources right now by learning. You may possess certain human resources already—perhaps you have an athletic gift that enables you to play professional ball to earn a living, for example—but you can also develop them through job training, education, experience, and so on. CapitalBefore we discuss capital, it’s important to point out that money is NOT a resource. Remember that resources need to be productive. They have to be used to make something else, and money can’t do that. Money certainly helps the economy move along more efficiently and smoothly, like grease for the economic machine. But in
and of itself, it can’t produce anything. It’s used to acquire the productive resources that can produce goods and services. This confusion is understandable, given that businesspeople frequently talk about "financial capital," or "investment capital," which does mean money. EntrepreneurshipThus far we have looked at natural resources, human resources, and capital as three inputs needed to create outputs. The last one we need to consider is perhaps the most important: entrepreneurship. This resource is a special form of labor provided by an entrepreneur. An entrepreneur is someone who is willing to risk his or her time and
money to start or run a business—usually with the hope of earning a profit in return. Entrepreneurs have the ability to organize the other factors of production and transform them into a business. Without entrepreneurship many of the goods and services we consume today would not exist.
If you consider just some of the factors of production involved in baking even a very simple cake, what would happen if one of the four inputs were missing? What if you lacked electricity or an oven? What if you lacked the skills to bake or decorate the cake? What if you had the first three factors of production but not the fourth, entrepreneurship? You can surmise that all four factors of production are required to create the outputs that would get you into the cake business—or any business. Check Your Understanding Answer the question(s) below to see how well you understand the topics covered above. This short quiz does not count toward your grade in the class, and you can retake it an unlimited number of times. What are the 3 most important resources?Three important natural resources are water, fossil fuels, like coal and petroleum, and forest and wildlife.
What are the example of business resources?Physical resources, such as raw material, buildings, vehicles, transportation, storage facility, machines and factory. Human resources, or staff, such as a talented engineer or marketing experts. These resources are more important in companies in the knowledge-intensive and creative sectors.
What are the major resources of business?The major resources available in an organisation can be divided into the following:. Machinery & building. These are the fixed resources of a company. ... . Raw material and finished goods inventory. ... . Transitional resource – Financial. ... . IP and knowledge. ... . Human resource.. How many types of business resources are there?Resources are characterized as renewable or nonrenewable; a renewable resource can replenish itself at the rate it is used, while a nonrenewable resource has a limited supply. Renewable resources include timber, wind, and solar while nonrenewable resources include coal and natural gas.
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