Family Resource

Managements

Chapter 4:

Today’s Topics

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Resource

Defined

A resource is any entity,

tangible or intangible,

that contributes to the

ability of an individual or

family to produce valued

outputs

(Goldsmith 2010)

What is

Resource?

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Management Process

Identify problem, need,

want, or goal

Clarify Values

Identify Resources

Feedback

Accomplish goals and evaluate

Decide, Plan, and Implement

Environment

Figure 1 The management process

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Resourcefulness

Ability to recognize and use resources effectively

A resourceful person: skillfully uses resources to cope with daily challenges

Resourcefulness

Learned in families, school,work situations,

and social organization

Example:Pramuka activity

encourage the development of

resourcefulness in children

Resourceful

In Bahasa Indonesia, Resourceful means berdaya

Types of Resources

Type of

Resources

Tangible

Real, touchable, or capable of being appraised.Ex: Jewelry, land, and house

Intangible

Cannot be touched, hard to measure and observed.Ex: knowledge, integrity, confidence

Vs.

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Material Resources

Natural phenomena (fertile soil, petroleum, rivers), and human-made items (buildings, money, etc)

Human Resources

Skills, talent, and abilities that people possess.

The sum of human resources that people use to achieve goals and other resources is human capital

Types of Resources

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Vs.

Resources and Economics

Scarcitycentral concept in Economics :

a shortage or an insufficient amount of supply

No society has enough goods or resource to satisfy everyone’s wants and desires scarcity will always exist people cannot purchase everything at zero

price (there is a cost to obtain scarce good or service)

Leads individuals and families to economizing behavior and goal setting

Choice and Opportunity Cost

Highest-valued alternative that must be sacrificed to satisfy a want or attain something

Scarcity forces people to make choice Economics assumption: people will make choices that maximize satisfaction

Trade-off: something must be given up to gain something else there’s no such thing as free lunch

Household Activities: Trade-off and Time

Goods and services

from market

Household unpaid work

Vs.

“Manager(s)” of a family must decide, how family resources will be allocated to fulfill wants and needs

Vs.

Household Activities: Trade-off and Time

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Laws of Supply and Demands

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Economic Well-Being

• The degree to which individuals and families have economic adequacy and security

Combination of:– Monetary income

– Financial assets

– Human capital

– Durable goods and services

– Time

– Ability to manage

– Control over financial affairs and resources

– Values

– Job security

– Retirement plans

– Ability to adjust to change

– Lifestyle decision

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Resource recognition: realization of the skills, talents, and materials in one’s possession- Teenager: lack of resource recognition ability improve as adult identity developing- Education: help students become aware how to aware of their strength and how to capitalize them.

Allocation and Recognition of Resources

Private ResourcesPublic Resources

Owned and used by all the people in a locally or countryOwned and/or controlled by an

individual, a family, or a group

LOGO

Who Should Control Resources?

Governor of Jakarta, Joko Widodo, raised an issue about curfew for student. What do you think about this issue, should government intervene that matter through formal regulation?

Resource Attributes and a Model

1

2

3

4

Psychological/ personality forces include values (shape choices and preferences)

Economic forces (regulate money, energy, material, services, and information)

Technological forces generate problem-solving inventions, tools, and methods

Sociocultural forces regulate mores, norms, and customs

The Five ForcesThat shape the characteristic way an individual or family manages resource:

5Political–legal forces (allocate power and provide constrain, also protecting laws and regulations

Resource Attributes

• Interdependence/ exchanged

• Concreteness (high concreteness/ low concreteness)

• Affective/ cognitive/ psychomotor

Foa & Foa Resource Model

Resource-Advantage Theory

• Important concepts: ENTREPRENEUR,LAVERAGING, and COMPETITION

• Entrepreneur: a person who organizes, operates, and successfully manages a new enterprise

• Leveraging: doing more with less

• R-A theory has been widely used by organizations around the world

Resource-Advantage Theory

• How to applied R-A Theory on family resource management?

• Application of entrepreneurship and leveragingin family

• There is objection toward competitive aspect of R-A theory, do families compete each other for scarce resource?

• Looking competition on positive way how proactive and effective are families in using their resource

Resource-Advantage Theory

• Utility: value, worth, applicability, productiveness, or, simply, usefulness of a resource

– Utility is in the eye of the beholder: toy is useful for child but maybe not for parent

• Accessibility: resource has to be accessible to be useful

– ATM expand accessibility toward money that is saved in bank

Utility and Accessibility

Cultural Perception of Resources

Please choose two out of three pictures above

Cultural Perception of Resources

• Eastern (Asian) people tend to see relationship (monkey and banana)

• Western people tend to see categories (monkey and panda)

• People from different culture think differently (cognition aspect)

• Why people from different culture think differently? Different way of child rearing and social practices

• Different culture also means different values

• Different culture different perception of resources

Resources, Families, and Households

• Remember how family (structure and interaction) change over time?

– Women/mother participation in work force is constantly increase double burden

• Although father’s involvement in housework and child rearing has increased, it remains limited(Robinson & Godbey 1999)

• Studies: women do about 2/3 of the housework

• Policy support for that problem? (leave after giving birth, etc.)

In your opinion, how the regulation and policy in Indonesia regarding women laborer to support their effort on balancing work and family?

References

• Goldsmith, EB. 2010. Resource Management for Individual and Families, Fourth Edition. New Jersey: Prentice Hall

• Robinson J & Godbey G. 1999. Time for life: The surprising ways American use their time. University Park, PA: Pennsylvania State University Press

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