Financial Resources – Any resource that can be easily converted into cash or have a significant value of capital. Operating Resources – Items that help workers to do the job at hand easier and also to improve work load and productiveness . Equipment , offices , vehicles , machinery, safety equipment , raw materials ect. Human Resources – Workers who have the knowledge to improve the company. These people have the knowledge , skills and are able to grow the company ,working efficient and accurate. Processes for adding value.
ArcelorMittal is working in and around the natural environment, natural minerals are mined from the earth. The company have to respect the environment. They have to leave a as small as possible carbon footprint, so that the area that was mined can recover. ArcelorMittal ‘s process of adding value to their products can be done by their organisation functions and generic management functions. Organisation functions consist of the production process , marketing, and their financial status. The generic functions can be the companies management and human resources. The adding value process is a balance of workers using the resources correctly and adding their skills and knowledge to it to make it a more affordable and valuable product. Outputs which result from the value-adding process.
If ArcelorMittal managed their value adding process correctly the reward are more of value for the company. The company can expect profit from the value adding process but that’s not the only result, managers receive added value through their salaries, government receives added value through taxes. Two types of role players in the value adding process when it comes to outputs, Primary role-players ( customers, employees, owners ,shareholders) Secondary role-players ( natural environment, government, suppliers, mining industry)
Business management , a value chain approach.
The Economical environment is in...