Case breakdown: Movies Love U Mr. Kalakaar
The scene that you saw shows Ritu Diwan (played by Amrita Rao) explaining the concept of optimum utilization of resources to Saahil (played by Tusshar Kapoor). Saahil is an artist and while painting, Ritu asks him, what does he do when he runs out of green paint. Saahil answers that he mixes blue and yellow colors to make the green shade.
She points out that, this is exactly what optimum utilization of resources looks like. Saahil further demonstrates this learning, at his office as he tries to understand where the resources are being utilized when he returns the cheque.
In this blog, Learning Perspectives will explore the meaning of Optimum utilization of resources.
What is Optimum Utilization of Resources?
Optimum utilization of resources is a concept in Economics and Management and can be applied in businesses. In Economics, resources are capital and labor which if utilized correctly can increase efficiency in production. Since resources are scarce, one needs to use these resources efficiently.
Economic efficiency is achieved in society when goods and services are produced and people are ready to buy these with their current income. However, optimum utilization refers to using the best alternative course of action, given the situation. Similar to the scene that we saw.
Optimum utilization of resources can lead businesses towards success. It also helps managers and leaders understand where the company is overspending and underperforming. This utilization can be understood under many aspects of business too. We saw the scene which showed how Saahil wanted to understand various resources being used before signing the cheque. Similarly, employees are resources of an organization, and utilizing them efficiently is one of the requirements of the manager.
Advantages of Optimum Utilization of Resources:
Reduction of Costs:
When resources are effectively used in a company, it leads to cost reduction. Practical usage of skills, knowledge, and talent of employees helps in reducing wastage, and results are achieved smoothly.
When there is optimum utilization of resources, there is uninterrupted functioning and coordination can be witnessed. There is division of work and proper responsibility and accountability of work. This is driven through top management which has the authority and delegation powers.
Adaptable to Change:
Organizations become adaptable to change as optimum utilization helps in looking for alternative ways to improve the given condition. Company also becomes aware of changing consumer demands and the supply in the market. It quickly changes and thrives.