Reflective Journal on Strategic Asset Management Workshops (MNG92100)

Past papers and solved assignments for students. This reflective journal details key learnings from strategic asset management workshops.

MNG92100-2019-1 STRATEGIC
ASSET MANAGEMENT -
ASSIGNMENT -2 - REFLECTIVE
JOURNAL - PART A
Student Name:
Student Number:
Campus:
Assessment Title:
Name of Tutor:
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Introduction
The report is based on my experience and learning that I gained by attending various
workshops. With the help of this assignment, I can express my views and concerns on the
topics that are taught to me in these workshops. The task helps me in critically evaluating
different concepts and factors that I studied in my academic period.
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Workshop 1
Experience 1 (What is the strategy?)
In a topic that was covered by me in my first workshop was related to the strategising
process. With the help of this topic, I was able to understand the concept of strategising and
why it is essential for the growth of the organization. The success of every organization
mostly depends upon its strategising and decision-making skills. Without conducting a
particular process, an organization is not able to grow in an uncertain environment. With the
help of this topic, I was able to examine that sound strategising process helps the managers of
the organization to fight the fierce competition and likewise assist in framing innovative
policies. This process also assists in resolving several issues taking place in the organization
such as scarcity of raw material and workforce, change in taste and preferences of customers
and fluctuation in governmental policies, etc. Thomas (2013 p. 35). With the help of effective
strategising process, the managers will be able to allocate the resources in an optimum
manner and likewise will be able to satisfy the desires of its major stakeholders.
Experience 2 (Asset management)
The next topic that was studied by me in the workshop was related to Asset management.
With the help of the information provided to me by the lecturer, I was able to analyse that
asset management is a critical activity that is to be performed by the managers of the
organization. With the help of this study, I evaluated that strategic asset management is a
technique that is used by the employees of the organization to manage the asset of the
organization for promoting the growth of the organization. With the help of this study, I
likewise evaluated that asset of the organization can be tangible or intangible depending upon
the nature and preferences of the organization. By evaluating the theories of different authors,
I analysed that business has to face several issues due to fluctuations in the business
environment and hence the managers must try to formulate effective strategies and plans to
fight these hindrances Maring & Blauw (2018 p. 391). The study helped me in developing
ideas that can be used by the managers of the organization to resolve the risks and
uncertainties associated with the organization.
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Workshop 2
Experience 1 (Fishbank Simulation)
The primary concept that was taught to us in our second workshop was Fishbank
Simulation. This is the most interesting and useful topic that will help me in my professional
development. With the help of this study, I analysed that learning and knowledge of an
individual are directly connected with his experience and time invested by him in performing
organizational activities. As per the concerns of the author, Fishbank Simulation is a learning
method that helps the individuals to learn more quickly and effectively. With the knowledge
of this factor, the managers or the employees of the organization will be able to discover new
ideas and concepts and will be able to promote the growth of their organization David &
Peach (2013 p. 345).
Experience 2 (Asset Management Decision Theory)
The other topic that was covered by me in this workshop was related to the theories of asset
management. In this study, different methods and approaches related to asset management
were discussed and projected to us. With the help of this learning, I was able to analyse a
variety of concepts related to strategic planning and decision-making process. I was likewise
able to understand the importance of the decision-making process in an organization. In an
organization, the managers have to face several problems like issues related to the allocation
of resources, scarcity of employees and fluctuations in the business environment. As per the
concerns of authors, it was examined that with the implementation of AM approaches and
theories managers will be able to formulate effective strategies that can help in resolving the
major issues of the organization Wouter et. al (2015 p. 10). Asset management theories will
help in promoting the growth of the organization and will likewise lead the organization to
the path of success.
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Conclusion
The assignment is highlighting my personal experience and knowledge that I gained in my
academic period. With the help of this report, several concepts related to the strategising
process and asset management can be conjectured. The report will likewise help in focusing
on a variety of theories and approaches that can lead to the path of success.
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References
 Ananthram, S, Nankervis, A & Chan, C, 2013, ‘Strategic human asset management:
evidence from North America’, Personnel Review, 42(3), pp.281–299.
 David, P, & Peach, N 2013. ‘Understanding and Implementing Strategic Asset
Management at the University of Southern Queensland.’ Facilities, Vol. 31.7/8 pp
343-56.
 Khaled, E, A, Kiridena, S, & Dwight, R 2018. ‘Contextualist-retroductive Case Study
Design for Strategic Asset Management Research.’ Production Planning & Control,
Vol 29.16. pp 1332-342.
 Maring & Blauw, 2018, ‘Asset management to support urban land and subsurface
management’,Science of the Total Environment, 615, pp.390–397.
 Ruiz-Pérez, Franco-Múgica, González, Gómez-Baggethun, &Alberruche-Rico 2011.
‘An Institutional Analysis of the Sustainability of Fisheries: Insights from FishBanks
Simulation Game.’ Ocean and Coastal Management, Vol 54.8, pp 585-592.
 Thomas, N 2013. ‘Ecuadorian State-Capacity Building through Territorial Strategic
Asset Management.' Journal of Latin American Geography, Vol 12. Pp.35-61.
 Wouter, V, R, Bueren, E, V, Langeveld, J, Herder, P, and Clemens, F 2015.
‘Decision-making for Sewer Asset Management: Theory and Practice.’ Urban Water
Journal, Vol 13.1. pp. 1-12
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