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i. Other professionals
who are available for consultation. As these professional services are expensive, they are only consulted
if required and may not be part of regular staff.
As the enterprise comprise all the above staff, the efficient utilization of the human resources is possible
only if
i. The organization is able to estimate the total amount of work to be done.
ii. The right type fo personnel who can perform the required job.
iii. Put the right person for the right job.
Human resources are the most important assets of any organization because they are the ones who put
all the non-living resources(tools, machinery, digital equipment etc) into best use. The quality and
quantity of the human resources has a significant direct impact on the performance and productivity of
any enterprise. Having a Right human resource working on the right job at the right time helps in
benefiting from:

 Advantage of specialization
 Low wastage of resources
 Lowered absenteeism
 Lowered inefficiencies
 Lowered labour turnover ratio
 Reduced cost of production

Due to these reasons the entrepreneurs strive to put the Right person in the right job at the right time.
The resources that are neither seen nor felt nor can be touched nor can be preserved but at the same
time for a strong base for the existence of an enterprise are known as intangible resources. These
resources help the business to gain profits in addition to the normal profits earned by any other similar
enterprise. These are critical resources of an organization.
10. Intangible resources that an organization possess

An organization usually possesses the following intangible resources.
a. Brands: The success or failure of a business depends on how strong is the brand it is associated
with. The worth of the brand need to be computed. A strong brand often brings in higher
margins easily.

b. Intellectual Property: Intellectual property comprises the critical commercial rights protected by
trademarks and patents. These are very important and should be given due consideration.

c. Goodwill: The value of the business will be much more than the total value of all the tangible
assets it possesses. In other-words when someone want to buy a business they will be willing to
pay more than the total value of the tangible assets. This additional value is known as the
goodwill. A startup enterprise may not have earned any goodwill yet. But if an entrepreneur is
acquiring an already existing enterprise or forming a partnership or a joint alliance, the he will
be able to earn the goodwill.

d. Reputation: Reputation is associated when the strategic objectives of a business are continually
met. A reputed business has the advantage of gathering the necessary support from the
employees and the suppliers.