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What are the key resources, partners and their activities?

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Unit Video

Unit Summary

Here are 3 types of common key resources:
  1. Physical resources – this includes vehicles, offices, stores, equipment.
  2. Intellectual Property – these are assets like brands, copyrights, patents, platforms and even customer databases.
  3. Human Capital – this is your team. In most businesses this is your most important asset as your teams are the primary source of new ideas and they are responsible for delivering great customer experience.

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Transcript

In this video you will learn how to identify the key resources in your business.
Key resources indicate the most important assets (most valuable things) for your business. Identifying them will help you to protect these assets and make the most of them.
Here are 3 types of common key resources:
  1. Physical resources – this includes vehicles, offices, stores, equipment.
  2. Intellectual Property – these are assets like brands, copyrights, patents, platforms and even customer databases.
  3. Human Capital – this is your team. In most businesses this is your most important asset as your teams are the primary source of new ideas and they are responsible for delivering great customer experience.
To have a successful business it is important to identify your key resources and protect them.
On the other hand, forming strong partnerships inside and outside your business is a great way to expand your reach and to ensure that your business is delivering its promise to the clients. These partnerships can help you add value and save costs.
Your resources and your partners will conduct many daily tasks within the business. Be clear about the activities that are essential to deliver the extra value promised to your clients. Identifying these activities will help you decide how to spend the time, money and energy to improve the work taking place in your business.

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