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Meaning & nature of resources
1. Meaning and Nature of
Resources
Masters In International Business
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2. Natural Resources
• Intangible Resources – Good Health,
Knowledge
Resource does not refer to a thing or substance,
but to a function which a thing or substance
may perform to attain an end.
Example-Iron Ore (mine) is a resource. Ore
resources serve as raw material for Iron &
Steel Industry
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3. What is a resource? (Concept)
• May be defined as “a way to achieve a given end”
• Resources may be-
1. Tangible – (touchable)
2. Intangible
Tangible Resources-(material things) – Ex: Land,
Forest, Coal, Machinery
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4. Dynamic Concept of Resource
• Resource is not static
• Resource increases in response to
1. Increased Knowledge-Learning curve, improved
efficiency
2. Improved Arts-better ways of communication
(ex-art of presentation by Power Point)
1. Expanding Sciences – Technological improvements-
Ex- Information Technology
2. Changing individual wants-Life style
3. Social Objectives-Conserving Fossil Fuels, Reducing
Pollution
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5. Resource as a result of interaction of
Nature-Man-Culture (Natural Resources
and Human Resources)
• Resources expand and contract in response to
human wants and actions
• When nature, mankind and culture interact
the process leads to the creation of resources.
• Nature is the basis of all resources
Ex-Coal is found in nature as “neutral stuff”
As man discovered more about nature, he
converted this to a resource through
ingenuity, skill and hard work.www.StudsPlanet.com
7. Role of man in resource creation
(Natural Resources and Human
Resources)
• Resource satisfy some wants or need
Ex- Coal satisfies need for a source of fuel
• Resource is functional and is related to man
• Resource becomes neutral stuff when man no
longer needs the resource
• Hence man can create or destroy a resource
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8. Wild Rubber
of Congo &
Amazon Basin
Rubber
Plantations of
Malaysia &
Indonesia
Turned into neutral stuff
With the development of
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9. Culture – created as a result of human
resource
• “The sum total of all devices produced by man
– with the aid, advice and consent of nature, to
advise him in the attainment of his objectives”
Zimmerman
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10. Example-Culture
• Man’s objective-Reduce toxicity and pollution in
environment (Man’s Objective)
• Breed varieties resistant to pest and diseases
• Grow these varieties as a trail (Natures consent)
• Introduce on commercial scale
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11. Cultures role in over coming resistance from
nature – Culture, Human Resource and Natural
Resource Interaction
Resistance :
• barren and unproductive
soil
• typhoons, hurricanes,
floods,
• poisonous insects, diseases
are all natural resistance
Overcoming Resistance:
• Improved agricultural
practices-fertilizers, water
management
• Crisis management
• Advances in medicine
All these overcome resistance
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12. Need for resource consciousness
• Resource is the basis of economic prosperity of a
nation
• Developed nations have vast resources in the
form of :
1. Natural
2. Human
3. Cultural resources
4. A resource conscious person seeks ways to
increase the fund of his resources
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13. Need For Resource Consciousness
• Better and more efficient utilization of resources
results in the expansion of total fund of resources
A ton of coal today is 1/7 the cost of coal seven years
back
This is due to
• Better ways of using coal
• Reducing wastage to a minimum
Man has always been resource conscious at an
individual level. However when society as a whole
becomes conscious by taking care of basic
resources, it provides a lasting benefit to societywww.StudsPlanet.com
14. Link Between Resources & Trade
• Resource is natural where as Trade is a creation of
mankind
• Resources may be managed efficiently or
inefficiently by man
• The manner in which the resource is managed
results in a country being termed as “resource rich”
or “resource poor” The resultant effect is the
country being “surplus” or “deficit” in a given
resource.
• “Surplus” “Deficit” “Consumption” “Production”
result in trade www.StudsPlanet.com
