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The Road to Superior Asset Management

The road to superior asset management requires the passing of certain guideposts. Each of those guideposts represents one of the fundamental aspects of superior asset management. A few details on each of those aspects are provided in this article.

Hiring Practices and Superior Asset Management

To have superior asset management one may need to invest in the cost of hiring personnel or it may force a company to need to review their current personnel. In the mid 1980s UCLA was striving for superior asset management so the university asked the workers in the clinical labs of UCLA hospital to forgo a paycheck for one week during the summer months. This approach allowed UCLA to avoid dismissal of any laboratory employees.

UCLA also evaluated in the cost of training new employees. After that evaluation, UCLA instituted a special hiring policy. If two applicants had the same qualifications, but if one of those applicants had received training within the hiring department, then that applicant would be favored for the open position. UCLA saw such a policy as a move towards superior asset management.

Administrative Officers and Superior Asset Management

Every company has certain administrative officers who handle the company finances. Sometimes a move towards superior asset management can call for changes among the number or quality of the administrative officers. Such changes are also being considered by certain city governments.

For example, Culver City, CA currently operates with a City Council and a CAO. The city recently asked the residents to vote on their acceptance of a change, a change to the introduction of a City Manager. A majority of the residents voted in favor of changing to a government with a City Manager. They appeared to see such a change as a move towards superior asset management.

Seed Money and Superior Asset Management

Sometimes, when a company wants to make a major change, it goes in search of a seed capital investment. The company looks for someone willing to offer seed money for investing in the company’s proposed change. If the company can convince an investor that the change will bring in more profits, then it stands a better chance of getting that seed money.

In the early 1990s Diagnostic Products Corporation (DPC) found a source of seed money. That company was therefore able to develop an immolate machine, a device that could automate the analysis of the diagnostic tests. The introduction of that machine put DPC closer to the point of success in superior asset management.