Answer:
Resources needed by a business to achieve it objectives include but are not limited to the following:
Human Resources: No matter how beautiful a business plan is, it is as worthless as the document on which it is written if it fails to attract the right set of human resources to help bring it to life.
Financial Resource: In business, there is a common cliche that is ever relevant and it says: Cash is King. Whether it is self-owned finance, equity financing, debt financing, grants, etc every business needs money to finance its operations.
Place of Operation
This can either be a physical space or cyber space or both. However, a business needs a space to operate from. In the wake of the recent pandemic, there has been a strong shift and preference towards a combination of domestic space and electronic space as places from where businesses run their operations. This of course is dependent on the nature of the business.
Machinery and Equipment
The type required by the business is directly related to the nature of the business. Whilst a Maize farmer will require land and tractors etc, an IT company will spend more in favor of electronic equipment, laptops, servers, etc.
Vehicle
The question here is whether it is owned or not. It is a matter of what the business requires in order to transport human resources, its input and output from one location to another with ease and at the lowest cost possible.
Some companies in-source their transportation needs. Others out-source them.
Supplies
These may include but are not limited to stationery, fuel, spare parts, refreshment etc.
Utility
Examples of these are:
- Electric power supply
- Internet connectivity
- Communication services etc
Other resources include:
- Strong political affiliation
- Patents
- Copyrights
- Licenses and Permits
- Trademarks
- Joint Venture Relationships
- Partnerships
etc
Cheers