Discussion Assignment Instructions
Submit reply of at least 250 words each to at least 3 other students. Eachreply may be in first person, and does not need to have scholarly support since this is adiscussion. Your reply must be in current APA format in terms of grammar and punctuation, aswell as proper citations if resources are used. If resources are used, your reply must include areference list. Make sure you are adding to the discussions.
Provide what you think when you hear the term strategic allocation of resources
At the beginning of this course, I stated that based in my own experience and as a scholar, when the term strategic allocation of resources is heard, the term usually means organizations and business corporations being able to locate their company resources such as employees, time, funds, materials, equipment’s, skills, and knowledge to utilize effectively, maximize efficiency and most importantly that resources are deployed where they will have the greatest impact within the organization. Additional example of the resources includes human resources where you have employees, their skills, and their time. Also, financial resources where you have budget , funding and capital. Also, physical resources where the organization possesses materials, equipment, and facilities. These all contributes to the success of business corporations if the right tools are utilized effectively by the right people at the right time. Another resource is intangible resources where reputation, customer relationships, and knowledge plays a key role in the organization success
what you hope to gain from this course
I also stated that as a scholar, I hope to gain a valuable insight into strategic allocation of resources to which I can effectively use in my current organization to effect change and success to align with the organizational goals. The goal is to be exceptional in identifying problems, increase excellent problem-solving skills, increased critical thinking skills, and develop new skills. I hope to gain great understanding in company resources and develop skills yet not known to me to gain a competitive advantage in the job market and enhance my performance in my organization. Also, to seek knowledge, to enjoy learning something new for myself and also something that I can share with my colleagues, friends and family. According to Proverbs 18:15, “An intelligent heart acquires knowledge, and the ear of the wise seeks knowledge.” This course will further help me build expertise of a subject area which will help prepare me for now and the future both personally and professionally.
Conclusion of the course and what I have learned and Gain what I had hope
With the course concluding as of this week. I have learned lot more about strategic allocation of resources than I did in my past. I have learned so many concepts like operational management and management level control. I have learned concepts like revenue management, revenue drivers, decision making process, activity-based costing and activity-based management. I have learned about how this concepts are utilized by fortune 500 companies like Apple Inc., Home Depot and the even the public service like US Department of Agriculture uses them to stay afloat.
Yes indeed, I did gain what I had hoped for in this course as I was able to learn that decision-making process in organizations depends on the ability to collect and analyze data and information quickly and accurately, estimate the potential outcomes of each alternative, and choose the optimal alternative that achieves the desired goals. I have also learned that Revenue Drivers in manufacturing firms are the factors that affect sales volume, such as price changes, promotions, discounts, customer service, changes in product features, delivery dates, and other value-added factors. In the service firms, the revenue drivers focus on many of the same factors, with a special emphasis on the quality of services – is it helpful, and timely.
Anything else that you feel is important as it relates to the importance of this concept to the broader areas of business.
Every concept I have learned in this course is important as I will utilize it in my role in my organization to thrive and sustain success. Taking this course has broadened my knowledge for sure and will definitely recommend everyone to take courses like this to further their knowledge as well
