Organizational Agility for Excellence...

Organizational Agility for Excellence Organizational agility is the ability of the organization to manage continuous, rapid and sustainable change. It is the capacity and flexibility of the organization to be consistently adaptable to market and environmental changes with rapidness and speed. It is the efficiency with which the organization can respond to nonstop change. It is the organizational ability to exploit both revenue enhancing and cost cutting opportunities within its core business more quickly, effectively, and consistently than its  competitors. It makes the organization to operate at the speed with which the opportunities are getting created. In the fast changing complex environment of the present day organizational agility is  the key differentiator between organizations. Organizational agility is achieved by enhancing the organizational capabilities to identify and respond quickly in an effective and efficient manner to the opportunities and threats. Agility makes the organizational processes flexible and the response time of the organization to the critical issues reduces to a great extent. Agile organization is quickly able to take advantage of the opportunities and protect itself against the threat. It believes in putting in place systems to gather and share the information required to spot opportunities and by building processes to translate organizational priorities into focused action. Agile organization manage the challenge of change effectively and efficiently without falling prey to either chaos and inertia. Implementing organizational agility requires management to regard all areas of the organizational operations as potentially subject to change. It must recognise that changes come from the external world of customer demands, competitor influences, technological advances, regulatory changes, macro-economic shifts, change in political thinking and so on, and not simply as an internal activity. Management must also be able to use available resources in a timely, flexible, affordable and relevant manner,...

Resource Management

Resource Management Organizational resources are the assets that are available to the organization during its functioning and in its operational activities. Organization utilizes its available resources to pursue its objectives and goals. Organizational management is responsible for acquiring and managing the resources for the accomplishment of the goals. Organizational resources are combined, used and transformed into finished products during the production process as shown in Fig 1. Fig 1 Organizational resources and production process  Organizations rich in resources are better able to survive external and environmental turbulence. Resources positively influence performance and sufficient resources are essential for successful performance and organizational change. The role and the importance of resources in achieving organizational goals cannot be undermined. Distinctive organizational resources generate a sustainable competitive advantage and lead to better performance. Resource management is an important aspect in managing the efficient and effective deployment and allocation of the organizational resources when and where they are needed. Resource management needs to be systematized for keeping a close eye on the resources. This process of systematization maximizes the efficiency of the available resources as well as minimizing of the wastage of the resources. Effective, proactive resource management delivers the utmost level of optimization and efficiency by enabling proactive allocation of resources based on organizational policies. At this level, implementation of organizational policy oriented resource allocation ensures that resources are provisioned in advance of organizational needs and in alignment with overall organizational priorities and objectives. This drives the highest possible resource utilization rates, while simultaneously minimizing organizational risk. Organizations must normally have a defined resource management process which mainly guarantees that resources are never over allocated across multiple needs.  According to Peter Drucker, there is need to focus on resources in the organization in order to abandon a less...

United Nations Framework Classification of Mineral Reserves/Resources...

United Nations Framework Classification of Mineral Reserves/Resources United Nations Framework Classification (UNFC) of Mineral Reserves/Resources consists of a three dimensional system with the following three axes: Geological assessment, Feasibility assessment and Economic viability. The process of geological assessment is generally conducted in stages of increasing details (Fig 1) Fig 1 Classification of minerals The typical successive stages of geological investigation i.e. reconnaissance, prospecting, general exploration and detailed exploration, generate resource data with a clearly defined degrees of geological assurance. These four stages are therefore used as geological assessment categories in the classification. Feasibility assessment studies form an essential part of the process of assessing a mining prospect. The typical successive stages of feasibility assessment i.e. geological study as initial stage followed by prefeasibility study and feasibility study/mining report as well defined. The degree of economic viability (economic or sub economic) is assessed in the course of prefeasibility and feasibility studies. A prefeasibility study provides a preliminary assessment with a lower level of accuracy than that of a feasibility study, by which economic viability is assessed in detail. The various terms used in this classification and their definitions are as follows: Total Mineral Resource It is a concentration(or occurrence) of material of intrinsic economic interest. It has resonable prospects for eventual economic extraction. Its location, grade, quantity, geological chracteristic is known, estimated or interpreted from specific geological evidence and knowledge. Total mineral resource are of three types. Measured Mineral Resouce – Itm is that part of mineral resource for which tonnage, density, shape, physical characteristics, grade and mineral content can be estimatedwith a high level of confidence i.e. based on detailed exploration. Inducated Mineral Resource – In this category tonnage, densities, shape, physical characteristic, grade and mineal content can be estimated with reasonable level of...