Resource Management - A Commerce Journey - Ep-3

Resource Management

What is “Resource Management”?

Resource management is simply the practice of planning, scheduling, and allocating people, money, and technology to a project or program. Resource management is the key fundamental in Hypixel SkyBlock.

The above is a prime example of something you might have to choose from daily, The above shows a Shortbow and a Longsword, Two excellent weapons that can come in handy in a boss fight. Now, most players who are on a budget have to decide whether they roll with a Shortbow or a Longsword after going through what offers the most. 




With the above table, it seems that the shortbow outperforms the longsword, but there is most definitely a lot more at play here, such as Player Preference, Costs, Abilities, Other Uses, etc. This is why this game teaches us resource management, after using multiple formulas to calculate maximum damage and other uses we come to a decision. This also gives us a sense of financial thinking, whether to invest or buy A or B, These here are the decisions we come across EVERY SINGLE DAY!


Here's a question for you, Judge based only on the stats the item gives. (IGNORE THE GREYED NUMBERS)



Well, even if you compared the stats of both items, the item you chose would most probably be wrong!
This is because it's not that simple, there is a lot more at play.
To calculate or find the best item for you, you would have to apply multiple formulas such as








Well, that's a lot of maths JUST FOR ONE STAT! Even after you use all these formulas or have someone do them for you, the job isn't done yet. You need to consider things such as skill requirements to use the item, costs, rarity, and other small but considerable stats, and if you are a collector then you also take into account the colour, edition, etc of said item.

This just shows how many decisions you must make to choose one item, and the answer to the above question is none because they never specified the use of the item. After all, if you were more into melee fighting for bosses then it would most definitely be Necron but if you were to use abilities and become a mage it would be Storm.

This one topic is crucial in all things in life, whether it's for getting your interiors done for your new home choosing between two cars, or maybe even choosing a team to support for a sport. This game inspires many like me and teaches us SO MANY important lessons in life, just like the one above, it teaches us about how taxes work and why they exist, and what inflation is and what it does.


Investing:

Investing is crucial at any point in life, whether you're 70 or 18, you should always aim to invest a small portion of your income or savings to generate more and have something to fall back on when something goes wrong. You always have multiple choices when it comes to investing, it could be stocks, mutual funds, exotics such as 1/1 cars, etc.
In Hypixel Skyblock Investing plays one of the biggest roles as you need to invest in something from the beginning to ensure a smooth experience without financial issues later on, you have multiple choices to make when it comes to investing:
  1. Item?
  2. Cost?
  3. Use?
  4. Supply?
  5. Demand?
These are just the major decisions when it comes to investing.
An example of an item I invested in is an exotic, low-supply, high-demand, high-cost item.

I bought this item about one and a half years ago, I bought it during the item's release for somewhere around 45 Million coins, after holding on to it for this staggering amount of time, the item's quantity in the market, as well as demand, has caused it to jump up in price to a mind-blowing, Jaw-dropping 795 Million coins today! that is over 750 Million coins in profit if I were to sell today which is well over 1500%! Although you don't see these kinds of returns in the stock market, it definitely teaches players how to be smart with their investment decisions when it comes to the real world. Investments in things like mutual funds from a young age can really pay off by the time you turn 18 or older, it can even pay for college tuition abroad! This just goes to show that investments are so crucial that they need to be taught to children across the world, this game does that, but is only one game enough? We should move forward with education and integrate games like these into the educational infrastructure, making these vital in our curriculum.

Upcoming:

For the next episode, I will be talking about Inflation and its causes, I will delve deep into the statistics, so stay tuned for the next episode as it will be one of the most intricate ones throughout this blog.

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