Reflective Journal Part A: Strategic Asset Management (MNG92100)

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ASSIGNMENT COVER SHEET
Student Name:
Student ID No.:
Unit Name: Strategic Asset Management
Unit Code: MNG92100
Tutor’s name:
Assignment No.: 2
Assignment Title: Reflective Journal Part - A
Due date:
Date submitted:
Declaration:
I have read and understood the Rules Relating to Awards (Rule 3 Section 18 – Academic
Misconduct Including Plagiarism) as contained in the SCU Policy Library.
I understand the penalties that apply for plagiarism and agree to be bound by these rules.
The work I am submitting electronically is entirely my own work.
Signed:
(please
type your
name)
Date:
MNG92100

Contents
Introduction......................................................................................................................................3
Workshop 1......................................................................................................................................4
Topic 1 – What is Strategy? (SP).................................................................................................4
Topic 2 – What is Asset Management and Asset Management Strategy? (LM).........................5
Workshop 2......................................................................................................................................6
Topic 5 – Site Visit to observe assets protected by the Gold Coast Sea Wall.............................6
Topic 8 – MIT Fish banks Simulation Revisited.........................................................................7
Conclusion.......................................................................................................................................8
References........................................................................................................................................9
MNG92100

Introduction
This case study includes brief knowledge about workshop one and workshop two. The study
includes information about the workshop and also contains a discussion about the objectives of
the topics undertaken is the workshops. The study of workshop one includes the information
about strategies and management as it helps to understand the basic information about the topics
whereas the study of workshop two contains the information about the fish bank simulations as
the study discussed the strategies and working culture of the fish bank. The study also contains
information about the process of Gold Coast Sea Wall. Thus, the case study informs about the
different topics.
MNG92100

Workshop 1
The brief study of workshop one helped to understand different scenarios of strategy and
management. The workshop significantly defined about some topics like:
Topic 1 – What is Strategy? (SP)
I have selected the topic “Strategies” as the topic helped me to understand the strategies and its
importance. The strategy is the process of ideas or blueprint which is used to set the working
criteria for the specific goal (Carlos, et. al., 2017). The business strategy refers to the planning
which helps to maintain and establish the rules and regulations as per the business growth and
advancement. An effective strategy needs a good strategic vision which helps to understand the
overall aspects of growth. The strategies need to be graphical and forward-looking as it is
necessary to understand the future aspects of the growth. This is necessary to have a clear vision
about the planning which helps to maintain the hierarchy (Benjamin and David, 2017).
(Sources: investorsking.com, 2019)
MNG92100

Topic 2 – What is Asset Management and Asset Management Strategy? (LM)
“Asset management and framework “as the topic help me to understand in brief about asset
management and also the framework helps me to become aware of the implementation of the
management (Nerur, et. al., 2016). From the study this I understood that the assets are the
properties which any organisation or company restores in their firm to determine the future
growth and advancements. The assets are necessary for building and maintaining the business as
they are the frontline of the business. The asset management is the management of assets of the
business as the management deals with the overall need and goodwill of the assets not for the
current time of period but it also strategies for the future life cycle of the company. The asset
management can be maintained by its framework the asset management framework includes
documents and strategies to build the management and to observe the particular management
(Wudhikarn, 2016).
Sources: lce.com, 2018.
MNG92100

Workshop 2
Topic 5 – Site Visit to observe assets protected by the Gold Coast Sea Wall
The topic from the workshop two which I am choosing is "Gold cost see a wall", as this is an
important asset of the infrastructure of Gold cost ((Wudhikarn, 2016)). The Gold cost is a tourist
spot in Australia and very famous for its beaches. In 1967 the place Gold cost faced very
dynamic and dangerous collusion which affected the manmade assets as well as the beaches. To
deal with this natural disaster the engineers made a strong and longwall named see a wall. The
wall was built with the use of soil, rock and boulders. And that was approx. 42 km long. The
purpose of building that wall was to determine and protect the boundaries as it is necessary to
protect the beaches from the illusion. Another reason was to maintain the ground from the
slippery landmarks. The next reason was to protect the lands from the weaves and elusion as the
spaces surrounded by beaches are compatibly weak, and the last reason was to protect the
landmark from the bad climate (Nerur, et. al., 2016).
Sources: archipelago.ca, 2019.
MNG92100

Topic 8 – MIT Fish banks Simulation Revisited
The next topic I have chosen from the workshop that was “fish bank “as it helps to understand
the strategies and reflections of the fish companies. The workshop provided information about
the fish bank industries (Benjamin and David, 2017). The workshop focused on the nowadays
structure of the companies as the companies require some rules and regulations to sustain in the
present competitive environment. This understood by the workshop that the fish industries
needful to think about the sustainability and the market value for the current and future market.
The fish bank industry introduced a game in which they interact with the people to solve and
understand the queries. The last step is to get an overview and point of views of the people
regarding the problems via the help of the game segments (Carlos, et. al., 2017).
Sources: researchgate.net, 2019.
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Conclusion
I have successfully concluded some specific and useful information from the workshop one and
workshop two. I have analysed and resolved the problems and issues of the topics. I have
understood the strategies also reflected about the asset management and the framework of asset
management also discussed. The workshop two provided the information about Gold cost see the
wall and the problems and need of the innovation. The workshop also concluded the fish bank
industries as there was information about the current state of the industry as well as provided
information about strategies to grow the organisation.
MNG92100

References
 Archipelago.ca, 2019. Halting erosion and monitoring habitat restoration along Victoria’s
Ross Bay seawall. [Online] archipelago.ca. Available at: http://www.archipelago.ca/case-
studies/seawall-erosion/. [Accessed on 15th April 2019].
 Benjamin L. Britton & David G. Atkinson 2017, ‘AN INVESTIGATION INTO THE
SIGNIFICANT IMPACTS OF AUTOMATION IN ASSET MANAGEMENT’, Journal
of Economic and Social Development (Varaždin), vol. 4, no. 1, pp. 2–14, accessed from.
 Carlos Giannoni, Luis Fernando Alarcón & Sergio Vera 2017, ‘Diagnosis of Sustainable
Business Strategies Implemented by Chilean Construction Companies’, Sustainability,
vol. 10, no. 1, accessed from.
 investorsking.com, 2019. Expert Calls On National Assembly To Legalise CSR. [Online]
investorsking.com. Available at: https://investorsking.com/expert-calls-on-national-
assembly-to-legalise-csr/. [Accessed on 15th April 2019].
 Lce.com, 2018. Introducing LCE’s Asset Management System Framework. [Online]
lce.com. Available at: https://www.lce.com/Introducing-LCEs-Asset-Management-
System-Framework-1411.html. [Accessed on 15th April 2019].
 Nerur, Sridhar, Rasheed, Abdul A. & Pandey, Alankrita 2016, ‘Citation footprints on the
sands of time: An analysis of idea migrations in strategic management’, Strategic
Management Journal, vol. 37, no. 6, pp. 1065–1084.
 Researchgate.net, 2019. researchgate.net. [Online] researchgate.net. Available at:
https://www.researchgate.net/figure/The-causal-structure-of-the-LITTLEFIELD-
simulation-game_fig3_276398876. [Accessed on 15th April 2019].
 Wudhikarn, Ratapol 2016, ‘An efficient resource allocation in strategic management
using a novel hybrid method’, Management Decision, vol. 54, no. 7, pp. 1702–1731.
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