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However, a gap between the original documentation instructions on the asset usage and the actual asset usage combined with a low understanding of the asset capabilities on how to best operate and maintain them may lead to human errors or negligence.
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Engineering asset management (EAM) is a multi-disciplinary activity that aims to tackle the issues of asset capability, life, safety, maintenance and reliability, taking into account economical and managerial factors.
Business model innovations can outspread and leverage core assets, capabilities and relationships.
While the image of the oil and gas industry is that it is all about assets, competitive advantage generally results from a combination of tangible assets, capabilities, and intangible assets such as reputation and intellectual property (IP).
Resource-based theory emphasizes that an enterprise is an aggregation of a series of resources in which the resources include "all assets, capabilities, organizational processes, firm attributes, information, knowledge, etc controlled by a firm" (Barney 1991, 101).
Over time, we evolved into more of an operator model, so we build the platform to have in-house construction, development and asset management capabilities.
Union Bank of Switzerland in turn had a stronger retail and commercial banking business in Switzerland, while both banks had strong asset management capabilities.
UBS, on the other hand had a stronger retail and commercial banking business in Switzerland and both banks had notably strong asset management capabilities.
It's also important to leverage the assets and capabilities within your organisation.
At a time of great austerity, it is vital we make better use of our assets and capabilities.
The decision of African business leaders to join the fight against Ebola brings new assets and capabilities to the task.
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CEO of Professional Science Editing for Scientists @ prosciediting.com