Resources
The goods or other types of resources available to individuals used to produce valuable consumer products or achieve set goals.
What are resources?
1. Time is more than just making time
2. Time is constant and irreversible
3. Time is effective management of resources
What are the concept of time?
1. Set short –term, intermediate and long-term goals
2. Establish priorities
3. Organize a daily schedule
4. Achieve self-understanding
What are methods of time control?
The conscious seeking of the simplest, easiest, and quickest method of doing work.
What is work simplification?
Any means of payment that is in the form of money, accepted by law in settlement of a debt.
What is legal tender?
1. Human resources
2. Non-human resources
3. Natural resources
4. Community resources
What are the classification of resources?
A measure of human effectiveness, how a person uses their time to bring about a measure of success in the quality of life for individuals and the family
What is the concept of time Mnaagement?
A mental estimation of the sequences that should take place, the approximate amount of time required for each activity in the sequence, and the starting and ending times for each activity.
What is time tagging?
1. Scheduling
2. Sequencing
3. Dovetailing4. Overlapping
What are work simplification strategies?
An amount of money that has been spent
What is expenditure?
Fossil fuel, water, air, gas, trees
What are examples of Natural resources?
Skills allow people to organize their work and personal life efficiently. For example, a person who manages time well will finish tasks ahead of deadlines, without last-minute scrambling or sacrificing work quality
What is is time management?
A habitual way of doing things that save time and energy for other activities
What is a routine?
Doing two or more activities at the same time. For example, a person may fold laundry and watch television at the same time.
What is dovetailing?
The process of planning, organizing, monitoring and controlling future income and expenditure that result in the preparation of a budget
What is budgeting?
Time, interest, skills, knowledge, ability, attitude
What are Human resources?
1. Know your goals
2. Prioritize wisely
3. Plan ahead
4. Delegate more often
What are guidelines for effective management of time?
Measure of comparison or a criterion
What are standards?
1. Time to do the task
2. Nature of the task
3. Knowledge and belief systems in prioritizing
4. Layout of work/task facilities.
5. Procedures
What are factors that affect work simplification?
1. A measure of standard value
2. A medium of exchange
3. A store of value or wealth
4. A unit of account
What are the functions of money?
1. Planning
2. Scheduling
3. Delegating
4. Prioritizing
What are guidelines for effective use of resources?
In economics, time is considered as a non-renewable resource because it is a scare commodity. Time is saved, spent, and allocated to get something wanted.
What is time as a resource?
A measurable amount and a degree or grade of excellence
What are quantity and quality?
What are consequences of ineffective time management?
1. Maximizing the efficiency of financial resources through several money management practices.
2. The main reason for preparing a budget is to enable an individual or family to live within its income
3. To reach long term goals
What are the reasons for preparing a budget?