What is Asset Management for Someone Who Never Worked in Assets

Before enrolling in meliorate, I rarely heard the words “Asset Management” and correlated this term to the management of assets (duh). However, when I first entered meliorate’s office and saw complicated schemas that explained Asset Management, I realized it was not that easy. I believe, though, it is an understandable concept when I heard that Asset Management = Wealth Management. So, I asked my colleague Tokarczyk Dennis to explain the idea not just to me but to all the readers.

What is Asset Management?

Basically, asset management is something everyone performs systematically but does not realize it. But first, let’s see what assets are and why we need to manage them. Assets can be financial, human, or legal resources – everything that a company possesses and that can help in achieving its goals. Each company makes decisions towards its resources, which already is asset management. The set of decisions made is an asset management system. That is what meliorate does – create an asset management system for their clients. 

How Asset Management is performed?

           In simple words, the asset management system is professional asset management made through developing frameworks that aim to fulfill clients’ potential in desired areas. Frameworks = decision-making based on organizational values and interests of stakeholders. So, the sequence of meliorate’s work is following:

  1. Communicating with clients, familiarizing with their values and their stakeholders’ interests.
  2. Define plans and objectives of the organization and time frames devoted to them, with which meliorate can help.
  3. Choosing the correct strategy according to meliorate’s knowledge and experience and client’s potential.
  4. Developing a strategic asset management plan, discussing it with a client, and agreeing on it.
  5. Facilitating plan implementation, answering client’s questions, and communicating with plan performers.

The actions sequence is comprehensive but easy at the same time so that meliorate’s actions are transparent and fair. Another meliorate’s uniqueness is its approach to strategic asset management plan implementation. Other consulting companies communicate on the level of top managers. However, meliorate promotes the idea of consent not only with executives but with each worker who undercomes crucial changes in their work. Also, meliorate is a specialist in both technical and management systems, which combination is challenging to find on the market. 

Asset Management’s value

Overall, although asset management may seem like a complicated business tool, it is a strategy everyone does when they cook dinner or decide to alter their working method. An asset management system is recommended for each business to define its values and interests and effectively manage them to accomplish objectives quickly and cost-effective. meliorate is a company that specializes in asset management with a unique proposition on the market, so for me, as a newbie, it is a big honor to work with such specialists. 

Iryna Nykoriak   

Published 03.06.2022

Also may interest you: meliorate for Dummies

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