Allocation is required by scarcity; if there were an abundance of commodities and services, no one would need to decide how to distribute them.
What is meant by allocation of resources ?
The practice of assigning and managing resources in a way that meets an organization's strategic planning objectives is known as resource allocation. Allocating resources involves managing hard assets like hardware to maximize the usage of soft assets like human capital.
Poor resource allocation during project delivery will negatively affect overall performance. Efficiency, time, confidence, and enthusiasm can be lost during a project if the necessary skills or expertise are lacking.
The two types of resource allocation that are involved in strategy execution are one-time resource allocation and continual resource allocation.
Thus, Allocation is required by scarcity; if there were an abundance of commodities and services.
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