Resources And Capabilities Of Rio Tinto

The most important economic resource is capital. Capital is what really gets the business up and running. Without capital, no money is earned and the business fails. Capital allows for more locations nationwide. Capital is necessary in any business.

Resources - Inputs into a firm’s production process such as capital equipment, skill of individual employees, patents, finance, and talented managers

Acquisition and organisation of resources can be critical success factor in an organization. While on the other hand, change requires a firm to gain expand and utilise resource such as human, financial, knowledge as a crucial asset. Resource based approach supports this view and as Tywoniak (2007) claimed by that resource based view is the most dominant theory in history of management. This is achieved by targeting state of sustained competitive advantage by controlling resources and capabilities. This view emphasis on the need for a ‘fit’ among capabilities and external market, and since each firm has unique capabilities and resources, this result in achieving strategic

Resources include any physical items, expenses or other costs. This can be building, ICT equipment the catering or even a special feature or entertainment or display that is brought in for the event. Some equipment can be expensive so a good event organiser with good resource management skills would be able to make most of their resource.

H. Resources are the things needed to get a job done, such as tools and machines, materials, information, energy, people, capital, and time.

Michigan has an abundant supply of fresh water. However, an economist would consider it a scarce resource because

The decrease shows a prudent position particularly in when the world is undergoing economic recession; Rio Tinto Ltd reduced its reliance on debt to finance its assets. This also explained the 22% increase in current portion of long term debt, i.e. the company retired major portion of its debt holdings in the last year.

Being a small player in the copper industry, is both an advantage and disadvantage for MCM. They are able to do co-locations with customers that are local, which provides a value-added feature for the customer; often, shipping can be a heavy

Due to bureaucracy policies and procedures, it sometimes becomes hard to come out with innovative ideas quickly at Rio Tinto. To streamline the bureaucracy, I recommend Rio Tinto to embrace open innovation through collaboration internally and externally. Rio Tinto should assemble a global task force across all the product groups committed to accelerating ideas from concepts to reality. Prioritization of good ideas needs analysis by potential impact, risk and time to market, and should quickly transition open ideation to define the project teams. The open collaboration should embed the four innovation pillars employees reward mechanism, idea generation, idea conversion and idea diffusion.

1. A resource is a substance in the environment that is useful to people, is economically and technologically feasible to access, and is socially acceptable to use.

Rio Tinto, an international London based mining and mineral company was severely impacted by the global recession in 2008. Such an impact forced unprecedented workforce reductions worldwide and decentralized HR management had to be brought in under a single umbrella to insure an orderly and efficient system that would support the organization’s future productivity. This new proactive approach to management, utilization of technology, and preparation of the employees proved to help save the company and set the stage for continued future operations.

Group Strategy:“Invest in and operate large, long-term, expandable, low-cost mines and businesses, driven not by choice of commodity or region but rather by the quality of each opportunity in the most attractive industry sectors”(Rio Tinto annual report, 2012)

Firstly, let us take a look at tangible resources. Under this category, we have financial resources, organizational resources, physical resources and technological resources.

First published in Mining Journal, April 2013 At long last, Glencore has overcome the final regulatory hurdle and secured the approval of China’s Ministry of Commerce (MOFCOM) to acquire the 66 percent of Xstrata that it does not already own. But not before agreeing to part with one of the prized assets in Xstrata’s portfolio, the Las Bambas copper project in Peru. If no suitable buyer for Las Bambas is found by September 2014, Glencore will have to auction off one of its other copper assets of MOFCOM’s choosing. To clinch MOFCOM’s blessing of the deal Glencore also committed to continue offering longterm supply arrangements to

The resource-based view was developed to help emphasize internal capabilities as a means of creating competitive advantage (Henry, n.d.) In this view, the organization is comprised of a series of resources that are used by management. These resources are the source of new products and the internal improvements that help companies to better compete in the marketplace. There are two different types of resources tangible and intangible. The former category consists of physical assets, and is characterized as physical resources, human resources and capital resources. So physical resources are the buildings, machinery, materials and productive capacity. At Coca-Cola, the company's physical resources