Assets How do you go about identifying an organization’s assets? Where do you st

Question

Assets

How do you go about identifying an organization’s assets?

Where do you start to learn this information? Who do you ask and what do you ask them?

What qualifies as an asset?

Do all assets require the same level of protection?

Do all assets need to be covered in the policy and procedures documentation of the organization?

Personnel
Explain why it is or why its not appropriate to check into a potential employee's credit history before deciding to hire him or her?

Beyond reviewing credit history, what are other types of histories or affiliations that should be considered when deciding to hire someone?

How does the candidates future job description influence the depth of a background check? Please give some example scenarios to support your analysis.

Explanation / Answer

Asset

Identifying its assets are very crucial for the success of an organization, because the organization’s operation and existence would depend upon that. An organization’s assets would include wide range of things including the people, product, service, information, etc. Asset identification is conducted with the help of known set of identifiers and information about the assets.

The above information can be collected from the functional heads of different teams. These are the people who can aptly measure and identify the need and value of an asset.

An asset would include any tangible or intangible thing that would create value for the company when controlled in a proper way. Assets provide competitive edge to an organization and also helps in providing superior value to the customers.

All the assets do not require same level of protection. The assets are generally categorized into three categories namely critical, essential, and normal. The critical assets are very crucial for the organization and it cannot operate without the critical asset for even a shorter time period. Organizations can operate for a few days or a week without its essential assets, but not more than that. The normal assets are those assets without which an organization can work till extended time period.

All the assets of a company need to be covered in the policy and procedures documentation of the organization. This list should be updated from time to time. Doing the same would help the organization to identify different set of assets and adopt specific measures to protect them. This would help to ensure smooth functioning of the organization.

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