LESSON 1 Family Resource Management PDF

LESSON 1 FAMILY RESOURCE MANAGEMENT  DISCUSSION 1. What is management? 2. What is family resource management? 3. What are the main concerns of management? 4. What is management process? 5. What are the factors affecting management of resources? QUESTIONS How much is your wee...

LESSON 1 FAMILY RESOURCE MANAGEMENT  DISCUSSION 1. What is management? 2. What is family resource management? 3. What are the main concerns of management? 4. What is management process? 5. What are the factors affecting management of resources? QUESTIONS How much is your weekly allowance? How do you budget your allowance? Poverty threshold: minimum income required for a family to meet the basic food and non-food requirements Poverty incidence: number of individuals with income below the per capita poverty thresholds divided by the total number of individuals SOURCE: https://openstat.psa.gov.ph/Metadata/ 3E3D2010#:~:text=Poverty%20threshold%20is%20the%20minimum,the%20total% 20number%20of%20individuals.  ACTIVITY ₱ 64.00 MEAL CHALLENGE National Economic and Development Authority (NEDA) Monthly food threshold for a family of five is P9,581 or P64 per person per day SOURCE: https://www.gmanetwork.com/news/money/economy/917177/psa-admits-p64-per-person-day-food-threshold-insufficient/story/ What is your definition of management?  MANAGEMENT It is the art of doing things through people. Mary Parker Follet  MANAGEMENT Planning and implementing the use of resources to meet demands Deacon et.al, 1988  MANAGEMENT 1. Managers 2. Productive  PRODUCTIVITY ✓Outputs are increasing given the same input ✓Inputs are decreasing but maintaining the same outputs ✓Outputs are increasing given decreasing input CHOICE Choosing among alternatives  RISK The possibility of harm, suffering, or loss  RISK There is an opportunity for certain risks. Goldsmith, 2013  FAMILY RESOURCE MANAGEMENT Understanding the decisions individuals and families make on developing and allocating resources, including time, money, material assets, energy, friends, neighbors, and space, to meet their goals National Council on Family Relations, 2014  FAMILY RESOURCE MANAGEMENT How individuals and families decide, plan, and act for progress, for fulfilling needs, and accomplishing goals in an increasingly technological society. Goldsmith, 2013  FAMILY RESOURCE MANAGEMENT How individuals and families decide, plan, and act for progress, for fulfilling needs, and accomplishing goals in an increasingly technological society. Goldsmith, 2013 MANAGEMENT CONCERNS Efficiency is getting the work done with minimum effort, resource, or waste. Effectiveness is completing the activities planned and achieving the targeted goals. MANAGEMENT PROCESS FACTORS AFFECTING MANAGEMENT History Biology- physiological needs Culture Personality Technology FACTORS AFFECTING MANAGEMENT History Biology- physiological needs Culture Personality Technology Thursday: Asynchronous Class Watch a video: SYSTEMS THINKING END OF PRESENTATION