Resource

Resources are a central concept in the field of strategic management, economics, computer science, portfolio management, and more. They are often considered, together with capabilities, to be sources of competitive advantage for organizations. Resources are analyzed in terms of strengths and weaknesses, and they are considered when implementing strategies. Due to resources being limited, they can often be a deciding factor for choosing which strategy, goal, and project to implement and in which order. Resources can be classified into tangible assets – financial assets (e.g., cash, securities, borrowing capacity), physical assets (e.g., plant, equipment, land, mineral reserves), intangible assets (technology; e.g., patents, copyrights, trade secrets; reputation; e.g., brand, relationships; culture), and human assets (skills/know-how, capacity for communication and collaboration, motivation). Resources are realized by active and passive structure elements. The name of a resource should preferably be a noun.

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