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.The study of management explores how humans react to change and how they cause change to happenBasic principle in management is that where there is risk, there is opportunityFactors in management: personality, environment, and timeChoice: The act of selecting among alternativesRisk: Possibility of perception of harm, suffering, damage, or lossIntroduction to Family and Household TrendsUS is growing older, more suburban, more diverse, with more multi-generations living under one roof, with more single-headed households, and with more Hispanics and AsiansThe 85+ population nearly doubled from 1990 to todayHispanic growth fueled now by more births- increased 43% since 2000Less than 25% of households have a mother, father, and children still living at homePercentage of US babies born outside of marriage continues to riseAverage age at first marriage: 28 for men, 26 for womenFewer people per household due to an aging populationDivorce levels are leveling out; more couples cohabitatingPopulation shifts affect management patternsWorldwide trend is for populations to become increasingly urban and mobileManagement as a ProcessManagement: the process of using resources to achieve goals; the process of using what one has to get what one wantsIncludes both thought and actionManagement process: involves thinking, action, and resultsManagement is considered an applied social scienceSteps of the management processStep 1: Identify problem, need, or goalProblems: questions, dilemmas, or situations that require solvingNeeds: what we need to survive or sustain lifeWants: things that we desire, but not necessary for survivalGoals: end results that require action for fulfillmentStep 2: Clarify valuesValues: principles that guide behaviorClarification: to make clear, to make easier to understand, or to elaborateStep 3: Identify resourcesResources: whatever is available to be used, such as information, time, skills, energy, etc.Standards: set by individuals and families for themselvesStep 4: Decide, plan, and implementDecision making: choosing between two or more alternativesPlanning: requires making a series of decisions that lead to actionImplementing: putting plans into actionStep 5: Accomplish goals and evaluateFEEDBACKFeedback: information that returns to the system; enables the individual’s overall management knowledge and ability to growIndividuals vary in the way they respond to external and internal forcesInternal forces are the personal drive behind our actionsExternal forces include the ups and downs of the economy, the condition of the environment, and the rules and laws of societyChallenges when trying to initiate knowledge management include:Arrogance( the feeling that there is nothing new to learn)Previous failed attempts (why try again?)Lack of commitment, drive, and awareness (why should I?)Lack of support, energy, or enthusiasm (who cares?)The ProcessProblems- questions, dilemmas, or situations, that require solvingNeeds- what we need to survive or sustain lifeWants- thing we desireGoals- ends results that require action for their fulfillmentValues- principles that guide behavior.Resources- whatever is available to be usedFeedback information that returns to the systemCan be internally or externally drivenWas the problem solved?What was learned?Which decisions or plans worked and which ones failed?What adjustments should have been made?Management tools: Measuring devices, techniques, or instruments that are used to arrive at decisions and plans of actionExamples: Clocks, lists, calendars, timetablesPutting Management into Action (successful planning helps individuals)Highlight important problems and opportunitiesInvest resources in the right tasksEncourage the development of goalsMake decision making more efficient and effectiveMotivate and coordinate effortsProvide a feeling of growth and accomplishmentInvolve othersMaslow’s Hierarchy of NeedsAccording to Maslow, physiological needs must be met before higher-order needs are consideredHighest level of need, self-actualization, is fulfillment of one’s highest potential most people don’t reach this levelFluctuate between needs throughout lifeInterdisciplinary FoundationPsychology: Focuses on how the individual thinks and behavesCognitive psychology explains the nature of human intelligence and how people thinkSociology: Focuses on the collective behavior of social groupsApplies the scientific method to the study of human societyAnthropology: The science of human beings, studying the characteristics of a particular population or activity in its place in timeStudy of culturesLifestyle: characteristic way, or pattern, in which an individual conducts her or his lifeEconomics: The social science concerned with the production, development, and management of wealth at different levels; household businesses, or nationsKey words:ScarcityRiskCost/benefit analysesUse of landNatural resourcesCapitalLife Management for Individuals and FamiliesLife management: encompasses all the decisions a person or family will make and the way values, goals, and resource use affect decision makingSelf-monitor: assess or alter their actions, language, and reactions according to those around themNo universal definition of family existsConventional definition: A group of two or more persons related by birth, marriage, or adoption and residing together in a householdOther Definitions of Families and Households:Household are comprised of all persons who occupy a “housing unit”- censusThere are more households today but fewer people in them than previous decadesSingles, Households, Nonfamily Households, and FamiliesMore households, with fewer people in each householdCensus now more focused on measuring households or units rather than familyManaging the Second Half of LifeManagement issues might be:How to enrich their present jobHow to start a different career or move to another organizationDeveloping a parallel careerJoining a nonprofit activity, such as community serviceChanges in Families and Households (summary)Many definitions of family, but they always refer to relationships, commitments, and shared resources over time.US Census shows changes in families in households as well as