2006-11-11 23:36:40 · 3 answers · asked by sona j 1 in Business & Finance ➔ Other - Business & Finance
Resource allocation is the reason why economies exists. Suppose you are running an economy. How will you find out who to be rewarded and whom not. So the most efficient and effective is supposed to get the resources than the lazy and slumbered. Now they say if you unleash competition in the economy then this will allocate resources efficiently, meaning every one will work to get a piece of the pie. Those who don't gets jagged.
In the same sense when a company is run, it's resources has to be efficiently handled to get the piece of pie offered by the economy else your competitor will eat your pie too for having not done so.
2006-11-12 03:53:53 · answer #1 · answered by Mathew C 5 · 0⤊ 0⤋
what is importance of resource allocation?
2006-11-13 21:39:34 · answer #2 · answered by joezone79 1 · 0⤊ 0⤋
So you can plan and use what you have effectively (waste not, want not)
2006-11-11 23:47:06 · answer #3 · answered by whay i lost my ?s 6 · 0⤊ 0⤋