Business resources can be defined as the basic component or wealth, required in achieving certain business goals and objectives, they are input required for efficiency and standardized mass productivity in a business setup. These are;
(i) Money: Money is highly needed for the smooth running of the business. It is important to buy stationery items, buy raw materials, pay the emoluments of members of staff, and other contingencies. Money as capital can be sourced from banks as loans, the stock market as securities, or from personal or credit facilities.
(ii) Human/Man: This is the personnel required to run the business organization, so as to achieve its objectives and goals. The human power needed must be qualified, skillful and tactful because they will be required to plan, coordinate and organize all the other resources.
(iii) Materials: During the production process, some of the items needed at a particular time or the other by the business organization are raw materials, semi-finished goods, plants and machinery, equipment, tools, vehicles, office machines, etc.
(iv) Opportunities: These are prospects available to a business organization to exploitTo use someone or something unfairly for your own advantage. More to its own advantage. When all the opportunities are identified and explored, they should be properly utilized in achieving the aims and objectives of such a business.
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