All entries for Monday 12 April 2010

April 12, 2010

Asset management

So far we learned how to create business excellence, what are the frameworks which help us to implement and sustain effective business, how to improve organizational processes and eliminate defects from it, how to lead organizations to excellence, how to produce excellent products and how make design of that products robust. We learned about main aspects of running a business – design and development and operations (processes). However, in order these elements to be effective there need to be support functions, which make those primary processes easier to implement and manage. Without managing resources (inputs), facilities (buildings and equipment), without thinking about environment and health and safety of employees at work there will be poor conditions for main processes to operate. It means that asset management has a significant impact on processes of organization and results of the company.

How to utilize resources more efficiently and avoid overstock, how to make working environment more organized, safe and clean, equipment to be reliable and less subject to maintenance, how to manage waste and do not harm the environment, etc are the issues of asset management and it seems that today they are not support functions but important processes, which could bring a real value for organization.

There are so many tools available to companies to manage their assets, however the main aspect is how effectively company could use that tools and more important how knowledge regarding assets management are shared in organization. It seems that so often companies seek external knowledge and help, without realizing that knowledge is already in the company. How much money could be saved if company could effectively extract, store and make available that knowledge to people and teams in organization. Asset and knowledge management are very complementary, knowledge embedded in people heads, experience, organizational routine need to be available in order to improve asset management.

Management of knowledge, challenge for managers?

It is interesting how often word “management” is used and applicable to different categories –“asset management”, “knowledge management”, “change management”, “technology management” an many orders. It seems that soon it will be applicable to everything around us – “mobile phone management”, “life-management” and maybe “relationship management”? It is silly, however the root of that in understanding that everything’s that important need to be managed in order to bring value. Every aspect important to business need to be understood and managed so that business could extract maximum benefit  from it.

Gradually management as concept shift from focusing on something tangible such assets to more intangible things such as knowledge, competencies, ideas, something we can not measure we can not see, but if managed effectively could bring significant benefits. However, because they are so difficult to measure, it is difficult to manage them. However, those companies who succeed with this task have significant competitive advantage over other companies. As many companies today have access to different resources, to different tools and consultants services, the competitive advantage now locate in heads of those working in organizations and the task of an organization to extract that knowledge and use for organizational benefit. What is more, it is difficult because it deals with the people, complex substances with their own specificities, emotions, preferences, experiences. Is the great challenge to make that people share what they have, but it is largely depends on the ability of organization to create an environment where people will be willing to share their knowledge. Current way of working should be changed, not immediately, gradually, making those people to adapt to new ways. Leadership at levels of organization promoting knowledge sharing culture should be established. And the most important thing is belief in what you are doing; because without belief and with skepticism most people have you can not achieve even simple things, let alone such a challenge to make people share their knowledge.

April 2010

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  • Hi, Albina, I agree with your points. Organization has right culture is very important for people. I… by on this entry
  • Hey Albina, I personally believe that you making the start and saying OK guys lets do this, because … by on this entry
  • cheers albina=] i feel the same that we have learned so much about leadership these 2 weeks and it's… by on this entry
  • A good question that you have here. In my opinion; if we can manage solve this problem of implementi… by on this entry
  • A nice reflection Albina in which you recognize that a system is as strong as its weakest part and t… by Paul Roberts on this entry

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