According to the management studies, all business processes are characterized by the use of a group of input resources, which are transformed activities into results. The optimization of resources is based on three characteristics: economy, effectiveness and efficiency.

The economy of resources consists of acquiring resources of the required quality, at a reasonable cost and in a timely manner. The effectiveness of resources is aimed at ensuring the adequacy of resources relative to business needs and their appropriate use. The efficiency of resources is measured by the attainment of an organization’s business objectives.

Managing the full potential – An incident

A priest, a surgeon and a project manager were playing golf together one day and were waiting for a particularly slow group ahead. The project manager exclaimed, “What’s with these people? We’ve been waiting over half and hour! It’s a complete disgrace.” The surgeon agreed, “They’re hopeless, I’ve never seen such a rabble on a golf course.”

The priest spotted the approaching green keeper and asked him what was going on, “What’s happening with that group ahead of us? They’re surely too slow and useless to be playing, aren’t they?”

The green-keeper replied, “Oh, yes, that’s a group of blind fire-fighters. They lost their sight saving our clubhouse from a fire last year, so we always let them play for free anytime.”

The three golfers fell silent for a moment. The priest said, “Oh dear, that’s so sad. I shall say some special prayers for them tonight.”

The surgeon added, rather meekly, “That’s a good thought. I’ll get in touch with an ophthalmic surgeon friend of mine to see if there’s anything that can be done for them.”

After analysing the situation for a few seconds, the project manager turned to the green-keeper and asked, “Why can’t they play at night?”

To the optimist, the glass is half full. To the pessimist, the glass is half empty. To the entrepreneur, the glass is twice as big as it needs to be.