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Moral ethics should an entrepreneur following in utilizing the resources:

The following are few of the moral ethics and entrepreneur should follow to utilize the resources.

 Avoid over consumption of resources, especially when they are scarce.

 Basic resources like air, water, fuel etc are used only to the extent required. Especially when
they are scarce and need to be shared with the living beings in that area.
 Careful use of the resources so that they do not cause any pollution and damage the
environment.

 Do not cross the legal permissions in procuring and utilization of the resources.

 Ensure proper facilities are provided to the human resources and they are not over worked. In
other-words they should abide by the labour laws.
 Financial resources are not overt-utilized and all the stakeholders are paid properly, especially
the ones who have provided the fundings.

11. Material resources:

The materials required arriving at the final product or service offered by an organization is called
as material resources. The raw materials, machines, tools, power, processing and assembling
need to be combined to perform the essential operations to arrive at the finished product or
service. These are known as material resources. In short any material that is found in nature and
can be utilized in the product or manufacturing process is known as raw material.

What are important decisions to be made by the entrepreneur while planning for the material
resources?

The following are the important decisions to be made by the entrepreneur while planning for
the material resources.

 Availability of the spare parts and support services (after sales service)
 Basic raw materials required and their types.
 Capacity required for installation and the size of the unit.
 Details of the machinery required and the technical insight of the machinery (like how to
operate how to repair etc)
 Estimation of the technical training required.
 Future maintenance costs
 Gathering of the quality controls systems needed.
 Identification of supplies of the raw materials, the quantity required and their location.
 Job and type of technical staff required.
 Kind of wear and tear and the rate at which the wear and tear of the assets take place.