Family resource management

Family resource management what is family resource management? - Family Resource Management is an understanding of the decisions individuals and families make about developing and allocating resources including time, money, material assets, energy, friends, neighbors, and space, to meet their goals. what is a family unit? - economic group of members that strive to meet the needs of all members while maintaining over a period of time The study of family resource management considers both the - consumption of resources and the availability/ expenditure of human resources by family members. 4 key concepts in family resource management - interdependency of individuals, environment, conscious effort to meet needs of family members, it is a process rather than a one time thing the history of family sciences is linked to - business management. business management 2 main focuses - Efficiency and Effectiveness the family is not a business because - Businesses typically have stronger hierarchical bases and more tangible factors family decision making - parallels business model, but with higher personal attention to emotional, intangible factors. 5 steps in decision making process - recognizing existing needs, identify alternatives to fufill needs, evaluate alternatives, select and implement alternatives, reflect and evaluate alternatives selected 3 major influences in F.R.M. - history, culture, and environment influence the way a family thinks and behaves