There are different classes of items held by an organization for continued use or the production of goods. Assets are commonly held by firms for more than one account ting period. These are used for production of goods and services. These have to be protected such that the firm enjoys the continued benefits from the machines. Asset protection planning is a strategy aimed at maintaining the continued performance of such assets.
The management of assets is either done according to the priority. A single item or a class of the items is protected according to the return from the class or the item. The approach used in the categorization depends on the return and the importance of the item to the firm. Reserved machines are held highly since without them some specialized processes would grind to a halt.
Other assets are taken care by the means of performance. The high performing machines are categorized. After the initial categorization, they are regrouped again on the basis of value addition to the entire system. Special measures are taken to maintain the performance of high performing machines. For intangible assets, the assets with the highest returns are grouped in order of the returns. These are carefully redefined to increase the returns.
There are different reasons why the machines are protected. To start with the acquisition price of the tangible assets is very high. The business enterprises aim to protect such machines such the loss would mean a very high loss. The production machines are very crucial in the production of goods. Others are used for administrative purposes. These ensure that the machines enable the achievement of goals and objectives.
The assets belonging to an organization can either be tangible or intangible. The tangible assets such as machines used for production lines need to protected against any form of damage. Machines are usually targeted by thugs. Theft of machines and other production lines is common especially in developing countries. The intangible assets such as business brands and licenses ought to be protected against any misuse or unauthorized uses.
Production machines have a physical identity. This means that they can be easily stolen or misused during the production processes. To beat theft of machines, some physical measures can be employed. The methods employed depend on the size of the company and the machines. Machines are locked up in the locking rooms after production processes. The rooms are then put under surveillance throughout to thwart any attempts to steal them or gain unauthorized access to such rooms. Alarm systems could also be fitted in such rooms.
Patents and licenses are often copyrighted or patented for a fixed period. After the patenting process, only the rightful owner of the patents has the right to enjoy the rewards and obligations that come with such patents. Any other party that tries to infringe on the patent rights is sued for the infringement of rights. Royalties are often paid for the use of brand names and use of a portion of the franchisee rights.
Asset protection planning has to include all persons within an organization. The management is in charge of drafting strategies of protecting the assets against theft and misuse. The board of directors comes up with the right and strategic measures to reduce theft. The workers are then put in charge of implementing the strategies put in place.
The management of assets is either done according to the priority. A single item or a class of the items is protected according to the return from the class or the item. The approach used in the categorization depends on the return and the importance of the item to the firm. Reserved machines are held highly since without them some specialized processes would grind to a halt.
Other assets are taken care by the means of performance. The high performing machines are categorized. After the initial categorization, they are regrouped again on the basis of value addition to the entire system. Special measures are taken to maintain the performance of high performing machines. For intangible assets, the assets with the highest returns are grouped in order of the returns. These are carefully redefined to increase the returns.
There are different reasons why the machines are protected. To start with the acquisition price of the tangible assets is very high. The business enterprises aim to protect such machines such the loss would mean a very high loss. The production machines are very crucial in the production of goods. Others are used for administrative purposes. These ensure that the machines enable the achievement of goals and objectives.
The assets belonging to an organization can either be tangible or intangible. The tangible assets such as machines used for production lines need to protected against any form of damage. Machines are usually targeted by thugs. Theft of machines and other production lines is common especially in developing countries. The intangible assets such as business brands and licenses ought to be protected against any misuse or unauthorized uses.
Production machines have a physical identity. This means that they can be easily stolen or misused during the production processes. To beat theft of machines, some physical measures can be employed. The methods employed depend on the size of the company and the machines. Machines are locked up in the locking rooms after production processes. The rooms are then put under surveillance throughout to thwart any attempts to steal them or gain unauthorized access to such rooms. Alarm systems could also be fitted in such rooms.
Patents and licenses are often copyrighted or patented for a fixed period. After the patenting process, only the rightful owner of the patents has the right to enjoy the rewards and obligations that come with such patents. Any other party that tries to infringe on the patent rights is sued for the infringement of rights. Royalties are often paid for the use of brand names and use of a portion of the franchisee rights.
Asset protection planning has to include all persons within an organization. The management is in charge of drafting strategies of protecting the assets against theft and misuse. The board of directors comes up with the right and strategic measures to reduce theft. The workers are then put in charge of implementing the strategies put in place.
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