Physical resources improve the performance of a business Essay

Explain how the management of human, physical and technological resources can improve the performance of Thorpe Park. In this task, I will be explaining how Thorpe Park manage their human, physical and technological resources and how good management of these resources improve their performance. 1. Good management of Thorpe Park’s physical resources Physical resources are the man-made tools or equipment needed for the day-to-day running of Thorpe Park. Basically, physical resources are anything that provides Thorpe Park with the means to perform its business processes. Thorpe Park’s rides are in good condition, are safe, are durable and are efficient and this demonstrates the high maintenance of their rides. Thorpe Park maintain their rides everyday (sometimes every 2 hours). This also demonstrates the high level of maintenance of their rides. Also, Thorpe Park have a team management team which monitor if there is a high standard of maintenance which creates high standards. The cleanliness and hygiene of Thorpe Park’s rides also demonstrates that the rides are being maintained well. How good management of physical resources improves Thorpe Park’s performance By Thorpe Park maintaining their physical resources to a very high standard, it increases the health and safety standards. This ensures customer needs a nd expectations are met and satisfied. Meeting customers’ needs and expectations ensures repeat business for Thorpe Park and more customers. More customers and repeat business will lead to an increase in ticket sales and more profit. Thorpe Park can then use this extra profit to re-invest into building new rides, maintaining existing ones. 2. Good management of Thorpe Park’s human resources Human resources is the set of individuals who make up the workforce of Thorpe Park. It also refers to the division of Thorpe Park that is focused on activities relating to employees. Thorpe Park can manage their human resources well and this can be done through various means. These means are by granting their employees free travel and food, discount on rides for family and friends, premium pay rates and other benefits from being an employee in Thorpe Park. By doing this, the employees of Thorpe Park are motivated to give their all to customers and be productive. Thorpe Park can manage their human resource well by training their employees. Training is  the ability to give employees skills and knowledge to do their job properly. They can provide this training for employees through the recruitment process. The process of finding and hiring the best-qualified candidate (from within or outside of an organization) for a job opening, in a timely and cost effective manner. They do this by identifying the need for a new employee, describing who you want through a person specification, describing what you want them to do through a job description, attracting potential employees, analysing candidates’ strengths and weaknesses and selecting the best person for the job. If the potential employee decides to take the job, Thorpe Park can then train the employee. However, if the potential employee decides to reject the job offer, they will have to start the recruitment process again which in the long run wastes time, money and reduces productivity. If the employee is recruited well, they will be able to meet the needs and expectations of customers. How good management of human resource can improve the performance of Thorpe Park By Thorpe Park are able to manage their human resources well, they will be meeting the needs and expectations of their customers. Thorpe Park meeting the needs and expectations allows them to build a good reputation and gives them more customers than their competitors such as Alton Towers, Chessington, Legoland or other any entertainment venues. This will allow Thorpe Park to expand as a business and increase their market share (A percentage of total sales volume in a market captured by a brand, product, or company) and the dema nd for their rides. 3. Good management of Thorpe Park’s technological resources Technological resources are resources such as software, designs, music, or text. These resources are owned like physical resources and are known as ‘intellectual property.’ Intellectual property laws allow people to own ideas and have rights over them. Thorpe Park can manage their technological resources well by constantly checking their programs and making sure they do not crash. They can manage technological resources by updating software regularly and making sure they run smoothly. Also, Thorpe Park have an IT team who specialize in ensuring programs are running smoothly and upgraded and updated regularly. Furthermore, the ticket collection system, the CCTV cameras, security systems, speaker systems, music and Wi-Fi all shows that  the technological resources in Thorpe Park are being managed well. How good management of technological resources can improve the performance of Thorpe Park By Thorpe Park managing their technological resources well, the customers’ experience is enhanced. This makes the customers of Thorpe Park happy, safe and satisfied because they are able to contact the outside world and enjoy their stay. This will result in repeat business for Thorpe Park and will allow Thorpe Park to attain more customers which will boost their sales, profit and reputation in the long run.