The Cooperative Research Centre For Infrastructure And Engineering Asset Management - Asset Institute Conducts Essay.

The Business Purpose of Asset Institute

Question:

Write an essay on Cooperative Research Centre.

It is observed that Cooperative Research Centre for Infrastructure and Engineering Asset Management is determined to develop the efficiency as well as sustainability of infrastructure and engineering management. The major business purpose of the organization is also to develop the profitability by maintaining a smooth operation in the infrastructure industry. The synthesis of literature helps to learn that the organization Asset Institute tends to provide their infrastructural as well as engineering assets to government bodies, community and others. There have been many cases, where the organizations in Research and Development industry experiences losses in operation due to poor managerial skills as well as financial management.

While dealing with the operation, it is necessary for the organization to avoid unnecessary investment in the operation. However, investment in raw materials to implement safety measures approaches may require proper budgets to execute the proposed functions. The organization provides effective research materials. In addition, the Asset Institute needs to make an investment for effective presentation as well as the need to take care of the availability of educational materials. As mentioned by Cardoso et al. (2012), the non-profit organizations are not constrained to earn profits. Instead, the organizations work for the development of society.

It is identified that in the modern history, the organizations need to implement the technical approaches to improve the productivity of the company. As discussed by Roundy, Bradshaw & Brockman (2016), in the asset management industries, where the functions are implemented with pre-caution and the technical assistance proves to be effective for developing the performance of the company. There have been two different theories that are namely “complex Adoptive System Theory” as well as Institutional theory that provide technical backup.

“Complex Adoptive System Theory”-It is evident that asset management is usually emergent in nature; thus, it may be difficult to develop the exact definition of the model to develop the technological needs. Besides, the information associated with the operational functionalities can also be dynamic in nature.  In the study of Shefrin (2015), Complex adaptive system theory can also be considered as the multi-agent theory that helps to understand the necessary perspective to implement a performance evaluation system in the organization that deals with “asset administration” activities. This particular thesis is conducted when the order is taken by the organization becomes in self-motivated in nature. The implementation of the theory also helps to deal with the authorities and assess the structure activities by implementing the system.

One of the major advantages of this particular model is that the organization Asset Institute could manage the stability between the dynamic orders such as supervisory control as well as the Data Acquisition. In addition, SCADA could monitor the communication channels with the contribution of stakeholders. Thus, the operation can be conducted effectively. Furthermore, it can be added that Asset Institute can priorities the activities to assist the customers for solving the issues. Also, it also helps in maintaining the equipment management.

The Need to Avoid Unnecessary Investments in Operation

Institute Theory- The organization behaviour could depend on socio-political and economical perspectives. It may contain certain Influential theories related to infrastructure industries- As put forward by Chantarat et al. (2013), organizations in this particular industry deal with a strong network as well as connection with Cooperative Research Centre for infrastructure and Engineering Asset for past few years. In addition, it is also identified that organizations that have an association with CIEAM find it easy to solve the issues concerning the asset management as well as sustainability. As stated by Dehghanian et al. (2013), an organization could often perform multiple types of asset management activities that are interlinked with in different logical ways. This could result in the different process. These processes are usually termed as “Asset Management”. Furthermore, it can be added that inefficient Asset Management could incur significant prices for the organization. On the contrary, it has also been identified that advisory services combined with the expenditure in infrastructure as well as a building to find out new approaches. Thus, Asset Institute could satisfy its customers. The organizations and the planning theme could provide them the strength by deriving as well as managing high valued assets in highly competitive environment. 

Additionally, the easy process of “fund raising” is considered as the force of concerned organizations since it is a “non-profit organization”.  The non-profit organizations usually receive assistance in the form of sustainable assets from the government bodies. In this context, Gheisari & Irizarry (2016) added that sustainability, as well as “resilience theme”, is considered  beneficial for the organization to enhance flexibility from the emergency actions or natural calamity. However, there have been some issues associated with operations done by the organizations who deal with asset management activities. As mentioned by Heng et al.  (2016), the asset management firms also have issues concerning the Research & development aspects.  It has been identified that some of the new students who wish to conduct research; they could lack proper knowledge and skills.

Requirements for implementing Asset Management Process - One of the major barriers usually found in employing the process modeling technology in Asset Management is the effective management of time as well as cost and human resource. There is a basic criterion for asset management modeling techniques, which indicates that it is necessary to allow the modelers to enhance the process to minimize the cost. In this context, Jalbert et al. (2012) added that an effective Asset Management process should enable the necessary information as well as data that are considered to be gained.

Potter’s 4’P analysis

Product: As mentioned by Stark (2015), the expectation of the customers could change over time; thus, Asset Institute needs to take the responsibility to introduce and implement changes in the operation to deal with current trends. It is observed that the organization needs to pay attention to the dynamic nature of the climate and the issues of global warning. In addition, the organization also needs to introduce the range of products that could run on the natural resources such as solar power and other. In this context, Vayanos & Woolley (2013) added that the organization Asset Institute usually conducts researches on solar parks, rooftops as well as windmills. Furthermore, it can be added that the complete process helps to deal with the supervision of life cycle that may further involve planning, structure of the design and products, and the exchange of recommended materials. Asset Institute contributes to deliver infrastructural assets including facilities of water treatment, roads materials, utility grids and other materials to the construction organizations.

Price: As Asset Institute is one of the “non-profit” organizations and it can be added that the pricing of their assets is reasonable. The shared collaborator and the government bodies could afford them for sustainable results. The concerned company should take care of the fact that government takes the responsibility for their activities. Hence, the pricing structure of infrastructural assets should have to be lower than the pricing strategies set by the competitors in the industry. However, at the time of setting the pricing structure, the organization makes sure that it takes care of the quality of assets. In this context, Jones et al. (2015) added that once the quality of the products is low, it could hamper the operation of the organization.

Technical Approaches to Improve Productivity

Promotion: The organization tends to provide a regular workshop to the Ph.D. students to review the business value from the Asset data (Cardoso et al. 2012). It has been identified that all these workshop activities may help the asset management organizations to endorse their key motive to achieve brand identity and increase customer loyalty. The asset management may also deal with the events as “World Congress on Engineering Asset Management”, which is based on the quality, risk, reliability and safe engineering by involving the high-skilled researchers, scientist.  Also, it is necessary for non-profit organizations to focus on the strategic goals such as monitoring the pricing strategies and providing the quality of products and services.

Place: As stated by Dehghanian et al. (2013), the elements involved in the marketing mix strategy may not always rely on the geographical position. The ability of the distribution point is also included in the elements of marketing mix. Nevertheless, the elements of marketing mix could reflect the ability of the companies to bring the products to the end users. It has been identified that Asset Institute has its own physical location in Queensland, where the government has to make large investment about the infrastructure management. The organizations make investment of $35 billion, which is worth of planned infrastructure. This may include $495 million as new funding.  In addition, it can be mentioned that the technology play an important role in developing the infrastructure of the country. The implementation of technology could also help to develop the economic scale.

According to Szegö, (2014), the internal environment analysis comprises of the strength and weakness analysis of the infrastructural and engineering asset management. The internal environment deals with industry which directly affects the various processes of deploying, maintaining, operating and upgrading and utilizing the assets. The internal environment of the asset management includes companies strategies related to providing service for engineering and providing infrastructural facilities. (Croft, 2014).

On the basis of a situational analysis of the current situation of the Australian market it has been observed that the domestic investment demand for engineering and infrastructural assets is at a tipping point.  The two key destinations for booming infrastructural projects have been observed ad Melbourne and Sydney.  This is due to the reason that prices of the land area in the mentioned area are affordable and this facilitates superior service of the asset management companies. The various relationships between the various departments of the asset management companies are in line with economic regulation of the construction companies and quality of the service regulation. If the Australian Government has higher focus for constructional activities in the country   the demand it is evident that the demand for the asset and infrastructural facilities will also increase (He & Xiong, 2013).

According to Hea & Xiong (2013), the better side of the Government deciding to investment on the asset management companies the infrastructural targets. With the advent of improved technology the maintenance of the valuable infrastructural services has tremendously across the entire service area. The use of GPS tracking system and identifying the assets has become effective through patrolling and real time investigation system. These facilities help the today’s asset management companies to collect pictorial and statistical data related to infrastructural assets. These services are widely popular in providing infrastructural mapping in services such as sewer, buildings, bridges and construction of highways (Malkiel, 2013).

Complex Adaptive System Theory

According to Hastings, (2015), the main drawback in various region of Australia has observed that the prices of the land equities are on the higher side and the services are becoming unaffordable. The recent study by the “Demographia International Housing affordability survey” depicted that Australia was next to only Hong Kong in terms of the most expensive places to live, with cost related to dwelling are on the extreme side. Moreover the demographia data for the third quarter of 2015 stated that the average housing price in areas of Sydney was more than 12 times than the average household income of the people. This shows the index of unaffordable infrastructural services among the cities of Australia. In the recent times the Government has taken several actions to cool down the situation to limit the growth to lending of the property investors and infrastructural facilities. This has further led the banks to increase the interest bar on mortgages for the borrowers.  Due to this reason the country has showed signs of property slowdown in the market.  The Australia’s house price inflation may further reduce to zero which will prove to be detrimental for the investment opportunities to be made by the various asset management companies (Fisher, 2015).

The external environment analysis of the asset management companies deals with the various opportunities and threats of the asset management companies.

The main opportunity for such market entities lies in the investment decision for the less risky projects. The industry has lot of potential to meet the present situation of the infrastructural targets. These are related to efficient recruitment process of the top talent in this particular industry. The continuous training and educating of the personnel’s related to this industry will open more avenues in providing efficient infrastructural facilities. The key component in opportunity evaluation lies in transparency and identifying the risk involved from beforehand. The risk factors included availability of the financial budget, land availability, equipments and political and domestic impacts of the infrastructural projects.  Moreover the prospering and resilient financial condition of the Australia, increasing strength of population and trading facilities have provided a world class facility to building and taking ownership of operate infrastructure within the country.  The opportunity exist for the higher prospect of technological and construction potential for upcoming projects. Up gradation of the present infrastructure and investing across all stages of the assets life cycle is provided by “National infrastructural construction schedule (NICS)”. Some of the investment in Australia has been confirmed by the Government in northern Australia. This includes identifying the up gradation to be made on the railway, roads and port infrastructural facilities. The Government has further taken initiative for setting a budget of $4.2 billion in the following year. The NSW government is set to lease more than 49 percent of of the state’s electricity networks. The growth for infrastructural opportunities is evident due to geographical dispersion and population of the country and persistence of remote nature of the markets (Pesonen & Horn, 2013).

            According to Görener & Uluçay, (2012), the external environment comprising the threats of the asset infrastructural companies are associated with installation, application and its loss evaluation as a subject to threat or hazard. The most basic factors influencing these conditions deal with geographical location. The critical infrastructures should not be located in the geographically concentrated area. This suggests that the physical location of the infrastructure plays a crucial factor in the proximity analysis of the facilities. The management and maintenance of the critical infrastructural facilities is becoming a serious issue in the recent times. The disruptions in the critical assets have a direct influence on the several department of the management. These affected departments include banking and finance, transportation facilities, electric power, emergency power, oil and gas and various types of government services. Some of the other external threats include natural threats such as weather issues, geological hazards such as earthquakes, land shifting. In many Asian countries tsunamis is a big concern in maintenance of the infrastructural facilities. The property adjoining to the areas such as Mawson peak, Mount Schank, mount elephant, mount Napier and Tweed volcano have higher probability of the property getting affected.  The main protections of the infrastructural facilities are provided by the security authorities of the Australia Government.  The increased amount of consumption of electricity and water resources has also adds to the problems of the present infrastructural facilities of the asset management companies (Zuko at al., 2014)

Institutional Theory

Asset Institute is a non-profit organization and should need to promote the causes and objectives by considering the potential donors and volunteers. In order to achieve the particular process, the company should need to develop a well-planned marketing strategy in order build the overall awareness into the various operations as well as igniting the passion among the different building and infrastructural projects (Bassett & Dempsey, 2012). With the importance of such marketing approaches required to develop the ideal strategy for the company, the suitable strategic marketing plan is needed to be outlined for supporting the organization conveying its goals and missions to the different infrastructural and building projects. Additionally, it is essential for the company to incite sustainable set of activities to communicate the identified market with the available engineering and infrastructural assets.

The primary area of marketing for Asset Institute is the building and infrastructural industry for offering its engineering and infrastructural projects by concerning effectively on the research and development requirements. Once the target market of the company’s operations is identified, the proper marketing team should need to be developed by the business in order to conduct critical research on the demographics (Baum & Hartzell, 2012). In the case of the demographics, the donor markets and the target volunteer of the non-profit should need to be considered, while useful identification should need to be made in terms of the general characteristics. Considering the operational type of the company, there are multiple general characteristics exist within the market, such as age, education level, income, occupational status, marital status, leisure or luxurious activities, and location of the population. Therefore, the marketers of the company should need to develop critical sense related to each of the identified demographic factors for supporting the development of an effective marketing strategy (Damodaran, 2012). The marketing strategy developed by Asset Institute should need to address different needs and interests related to the modern day trends of various building and infrastructural projects.

Communication plays an essential role in the development of the marketing strategy and the entire planning process behind the scenario. The marketing management should need to be conducted on the basis of evaluating the marketing strategies, where the responsibilities are required to be played by the marketing managers of Asset Institute. Therefore, the strategic marketing planners should need to provide major focus on the communication strategy having the capability to communicate the mission and objectives of the organization to the identified target market of operation (Das, 2012). In the case of the existing marketing strategy of Asset Institute, it constitutes the effective combination of different types of communication techniques and platforms. The advent of social media provides a significant influence on the strategic planning and development of the marketing strategy of the organization. A wide range of approaches undertaken by the marketing managers of Asset Institute includes different types of fundraising events successfully communicated by the different kinds of online marketing channels like social networking, emails, direct mails, etc. On the other hand, some number of traditional marketing approaches also plays vital contribution to the development of advertisements and securing their reach towards the project managers of building and infrastructural industry (Hull, 2012). The overall significance of the communication aspect integrated into the marketing strategy of Asset Institute can be observed by the ability of such elements to articulate clearly about what methods to be used and to what extent these should be utilised. For an example, the non-profit organization looking to reach for the young demographics within the identified target market should need to provide priority to the utilisation of social networking, as the particular trend could be majorly observed in the young generation of the particular population (Krosinsky, Robins, & Viederman, 2012). On the other hand, the company focuses on the effective utilisation of its traditional marketing approaches or the direct mailing process for capturing the attention of groups belonging to the high-income or middle-aged category of the certain target market.

Requirements for implementing Asset Management Process

One of the major marketing strategies of the non-profit organization like Asset Institute is developing and maintaining a suitable design to the individual website of the company. In this case, the analysis of the marketing strategies adopted by Asset Institute suggests the option included in the form of instant donation button on the company website as well as the social media profile in different major social media platforms (Lawrence & Kleinman, 2012). Furthermore, the significant amount of efforts can be observed by the research and development team of the organization, where the certain team of the company makes sure the suitable designing of the website. Based on the analysis of the website, it is observed that the potential donors can click the button to fill out the donation form with their credit card details and the amount they wish to donate towards the operational activities of the company. Therefore, the marketing strategy of Asset Institute is observed to cover the convenience of its clients and investors as well to promote the development of a hassle-free service experience (Pompian, 2012). Additionally, it is worth to mention that the development of the online system is done in such manner to provide the tax receipt to the potential investors to the company after completing their transactions.

In the case of the community, the individuals and the other businesses are always interested to know about the actual effects of their donations combined with the involvement of time and money to extending the wellbeing causes towards the society. Therefore, it is essential for the overall planning process for developing the marketing strategy in a manner to confer the mission and values of different initiatives and approaches to the organization successfully (Quelle, 2012). Considering the understanding to this vital fact, the marketing members of Asset Institute publishes different kinds of photos, videos, testimonials, and other evidence to reflect on the particular impact of the efforts put forwarded by different investors of the company. These publications are responsible for providing effective marketing benefits to the organization in addressing the subsequent impacts of the efforts made by the clients and investors. In the case of this particular organization, it finds and delivers engineering and infrastructural assets to the housing and infrastructural businesses, which provide housing facilities to the individuals of society displaced by poverty or disaster (Reilly & Brown, 2012). The marketing strategy applied in this situation by the company is highlighting and presenting the photos and videos of the volunteers repairing or building new housing facilities to serve the community on the company website. Such process guarantees the delivery of the company’s vision and values of the identified services successfully towards the community. This is one of the most vital marketing strategy adopted by the company to ensure that proper contribution from the investment can be achieved from different external sources.

There have been multiple types of factors existing in the external environment of the organization that could largely influence the operation of the organization. These factors are such as political, environmental, social, technological and legal factors

Potter’s 4’P analysis

Political factors: The organization Asset Institute is situated in Queensland in Australia; it is one of the major advantages for the organization itself. The environment of the country is considered as the liberal capitalistic democracy, where the government bodies could interfere in the economy through the formulation of importation taxes that revolve around the protection and enhancement of national economy. The government bodies of the country have developed some environmental laws. In this context Chantarat et al. (2013), added that the business environment of Australia significantly depends on the strength and stability. The organization could receive environmental assistance from the government. In such a case, the organization needs to focus on premium class infrastructure to the end consumers.

Environmental factors- As stated by Merges et al. (2012), the working approach of the organization can be affected by the environmental factors. Many environmental forces could influence the operations of the firm.  It has been identified that water, land and air pollution could damage the environmental growth of the society. As mentioned by Masood et al. (2015), Asset Institute effectively deals with the engineering as well as infrastructural assets and pay attention to the renewable power sources such as the wind, solar and other natural resources. The organization Asset Institute could implement a way to minimize the environmental influence by replacing its existed energy consumption products.

Social factors: As mentioned by Närman, Buschle & Ekstedt (2014), social factors are considered as the collection of diverse people within the organization. This personnel attains the higher education, experience, and skills. As the country does not have to deal with the issues of religion and race, the organization Asset Institute finds it easy to develop the interpersonal relationship with each other. This could result in the better understanding of the people and development of productivity.

Technological factor: As mentioned by Norberg & Cumming (2013), technological factors also help to describe the possibility of the organization whether they could satisfy the needs and wants considering the criteria. These factors could depend on Research and Development activity, automation and technological changes. Another significant aspect associated with the technological aspect is to consider the research funding standards.  It is observed that the gross expenditure on R&D of Asset Institute was around $40 billion (Raikkonen et al. 2016).

Economical factor: It is identified that the organization Asset Institute tends to value their trading by employing the efficient members to conduct the study within the organization. Hence, the organization takes the responsibility of resolving the issues poor employment (Wong et al. 2012).  Nevertheless, it can be mentioned that by operating as a non-profit organization, Asset Institute develops and provides the service for the enhancement of the society. The governments further sustain the initiatives of the organizations. This could result in less public debt. As put forward by Raikkonen et al. (2016), the open business environment of Australia have includes some restriction for the execution of the infrastructural asset in the society.

Strength: As mentioned by Roda et al. (2016), the non-profit organization usually receive financial backup from different sources. Thus, the organization implements the opportunity to implement the desired initiatives for accomplishing their goals and objectives. On the other side, as the organization has effective relation with the CIEAM for long, Asset Institute have positioned itself as one of the leading non-profit organization in the industry. Due to the strong connection with CIEAM, Asset Institute finds it easy to recognize new approaches to fulfilling the needs and demands of customers as possible. The organizational structure as well as the “planning theme” provides the strength by gaining as well as managing high-value assets in a competitive technical environment.

Furthermore, it can be added that the initiative of fund raising can also be considered as the strength of the organization Asset Institute. As it is a non-profit organization, it provides backup for its contribution through sustainable asset to the society. As discussed by Norberg & Cumming (2013), sustainability sand resilience theme may be an effective option for Asset Institute to enhance the resilience from the natural disaster. It is also identified that learning and development may also be considered as the ultimate strength of the that helps the personnel to develop as well as implement the knowledge and experience at the workplace.

Weaknesses: As per the case study of Merges, Menell & Lemley (2012), the asset management firm usually deals with the scarcity concerning the effectiveness and influence of Research & Development elements. The students who are pursuing the course of Ph.D. find it difficult to conduct the research due to poor knowledge and experience.  In this context, Malkiel (2013) added that lack of experience in the online resource is another significant weakness in this technologically developed field. In addition, poor supply chain management could lead to delay or failure in the deadline to the end users.

Opportunity: It is identified that huge infrastructural demand in the community can be considered as the major opportunity for the organization to minimize profitability. This particular opportunity for developing as well as executing the multidisciplinary capacities for asset management may also provide the opportunity to develop the land titles and free land for industrial agriculture (Larsen et al.  2012). In the case study of (Cardoso et al.  (2012), it is mentioned that association with Metro South Curtin University provide them the benefits of establishing a new specialist group in health infrastructure. The organization also gains the opportunity to gain the Research & Development capabilities to implement all the operational functions. In addition, it can also be added that the association with Curtin University leads to the formulation of Industrial Transformation Training Centre, especially for the mining industry. In this context, Gheisari & Irizarry (2016) added that new services and technologies, as well as the target markets, can be considered as the opportunity to gain their engineering as well as the infrastructural assets.

Threats: The current organization is determined to develop as well as provide their services for several years. It has some highly skilled technicians, who provide their contribution in the development of research industry. Therefore, it can be mentioned that old employees could lack knowledge regarding the implementation of modern or advanced technology. Thereby, it can be challenge or barrier in the enhancement of the Asset Institute. On the contrary, Heng et al. (2016) added that corruption is also one of the emerging threats, which could be devastating in the development of the organization because the working personnel may only think about their individual development instead of put effort in developing organizational operation. There are multiple regulations as Department of Environment, and Conservation is helping to protect the environment by leaving the unnecessary infrastructural project to minimize the influence of global warming as well as changes in the weather (Jones et al. (2015).

The financial analysis of the company should take onto consideration the market price, net asset value. This should show an increasing trend fir a better financial leverage.  The various financial factors which influence the financial factors of the company includes  electric utilities, oil and natural gas, consumable fuels, water utilities, gas utilities and transportation infrastructure. The fair value if the asset should take into consideration the long term investments, common stock, short term securities and options purchased.  For the purpose of the financial planning the following considered components should be distributed into three levels for better forecasts of the financial data. The financial planning also involves equity contracts. The financial allocation of the assets should be distributed according to the foreign currency and cash pledged to the collateral for the OTC derivatives. The long term planning of the financial data should also consider the construction & engineering, diversified telecommunication services, gas utilities, road & rail services, transportation infrastructure, independent power and renewable electricity producers and water utilities. The assets of the company Asset Institute should incorporate investment at value, unaffiliated and affiliated. Cash pledged collateral, OTC derivatives, and foreign currency at value should also be considered while asset evaluation.  The receivables of the companies should include capital shared issued, options written, investment sold and securities lending income. The liabilities written at value and the collateral on the securities loaned at value should be offset with the liquid assets in possession of the company. The payables of the liability component of the company should include investments purchased, investment advisory fees, options written, officers and trustees fees and accrued expenses payable to the debtors. Some of the other liability component should include foreign bank overdraft, options written at value, collateral provided on the securities include loan at value. The payables of the liability should also take into consideration options written, foreign taxes withheld, income dividends, officer’s and trustees’ fees, income dividends and options written in the infrastructural payment which are receivable to the company. The net asset value of the company should take into consideration statement of the assets and liabilities, investments at cost, securities loaned at value, foreign currency at cost, premium received and outstanding value of the authorized value of the shares. The statement of operations of the company should clearly state the dividends unaffiliated and unaffiliated, net securities lending affiliated. It should also include expenses such as investment advisory, offering costs, insurance, custodian charges, transfer agent expenses, printing expenses, registration expenses, and various other miscellaneous expenditures. The various realized and unrealized gain or losses should be determined by the investments which are unaffiliated, the amount assigned for the capital gain distribution, options written and foreign currency transactions.

Recommendation and Conclusion

The primary objective of developing this portion is to suggest the betterment of the facilities for the selected institution. With the help of developing key information, the significant areas of the company can be explored critically, and the suggestion can be obtained by determining some of the key concerns for the company. One of the major areas of an issue for the company is the inadequate amount of technicians having the capabilities to adopt the use of new technology and introduce such factor in the functionalities to develop a better organization (Rice, DiMeo, & Porter, 2012). Therefore, this certain area of the business development should need to look after carefully by Asset Institute. Apart from that, the operations of the company are involved effectively within the oil and gas industry. Hence, the oil and gas management procedures associated with the operations of the company should need to be performed with the induction of proper risk management strategy because of the vulnerability of the required activities as compared to the services or processes of other industries. Therefore, the company is recommended to categorise the risks while identifying the reasons behind the occurrence of such risks. Here, the company is referred to adopt a “Risk-based Asset Management Implementation Model” for achieving the identified purposes (Sugaretty, 2012). Additionally, by looking at the resources and adequacies of Asset Institute, it should need to rank different kinds of risks encountered by the business to be able to develop different kinds of control mechanisms. Successfully implementation of the identified process will help the company to facilitate the improvement of the business through enabling sustainability in terms of offering the engineering and infrastructural assets to its various clients.

Apart from the identified recommendations provided to the company, the company is further suggested to undertake different kinds of preventive measures against its corruptive technicians. The successful implementation of the preventative mechanism will help the company from incurring a considerable portion of the loss. The implementation process will require the company to develop personal approaches for communicating the objectives and motives of its operations to each member of the organization to promote the economic growth and modern infrastructural benefits.

With the help of these particular understandings, it can be concluded that the organization chosen for developing the document belongs to its start-up phase, as the services are only three years old (Lawrence & Kleinman, 2012). The operations of the company not only involves providing brokerage services to its clients with the help of providing infrastructural and engineering assets but also offer different opportunities to the research scholars. Most importantly, the asset management services of the company are designed to maintain sustainability to the transforming communities. Considering these particular activities undertaken by the organization, it is supported by the effective government benefits like the R&D tax concession. Therefore, it can be proposed that the organization should need to shape up and implement its sound strategies with the help of different assistance and programs developed by the government.

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