resource-management

Vocabulary Word

Definition

'Resource-management' is a bit like being a team captain in a game. You need to distribute responsibilities, time, and resources effectively among team members to win the game. In a professional context, this might mean assigning jobs to different people, budgeting money, or using materials efficiently.

Examples in Different Contexts

Within corporations, 'resource-management' is fundamental for operational success. A CEO might assert, 'Our company's growth can be attributed to stringent resource-management practices.'

Practice Scenarios

Academics

Scenario:

The lab machinery is underutilized during off-hours. Maybe we should adjust our equipment usage schedule.

Response:

That's a good point. With better resource-management, we can maximize the use of our lab machinery.

Business

Scenario:

Our profits are decreasing due to high operational costs. We need to rethink how we're distributing our financial resources.

Response:

I agree. We need to improve our resource-management to reduce operational costs and increase profits.