TABLE OF CONTENTS The land and buildings of an organization, assuming they are owned outright, are usually among its most valuable assets. It goes without saying, therefore, that they should be used efficiently and effectively.
3 mins
What do you think is entailed in making effective and efficient use of land and buildings? Try to list two things.
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Some points you may have mentioned are that buildings and land should be:
maintained properly, so that they retain their value
allocated between people, sections and departments so that each group has the right amount of space and facilities, in the right location
developed to their full potential; for example, an old building may need to be demolished and replaced (subject to current planning regulations) if it no longer serves the needs of the organization adequately.
By finance, we mean funds (i.e. available money) or the provision of funds. Of course, buildings, land and other resources are valuable, but they would first have to be sold before they could be used to purchase other things.
Unless you work in the finance department of your organization, the primary way in which you help to control finance will probably be through budgets.
Budgets are itemized summaries of expected income and expenditure over a period.
In Session C, we will briefly discuss ways in which first line managers can contribute to the efficient use of finance. In the meantime, you...
