What do you think is the most important asset of a business?

MasterA Level 1

July 23, 2016, 6:59 pm

15

Write the reason you're deleting this FAQ

What do you think is the most important asset of a business?

What do you think is the most important asset of a business?

I think the most important asset of a business is its people. Every business is run by people and without the people who run it, a business cannot operate. I have seen a real life business put a lot of emphasis on hiring new talent for their business because they believe that people is the key to their business and I agree with this. You can have automated systems or machines that does the job but at the end of the day, machines cannot replace humans and humans are the ones who make the machines and systems.

Comments

Please login or sign up to leave a comment

Join

EliteWriter

EliteWriter

I agree with what you said- the employees are of essence, and I go a step further - each and every one of them, no matter where they stand in the organization chart are important to the business. There are some who might argue that a manager is more important than a cleaner, but I feel that each and every employee has his or her unique value. The most important thing is to make sure that each employee is a good employee, in that he is properly motivated and efficient. As long as every employee does his job or role well, then a business can operate efficiently.

8 years ago

Are you sure you want to delete this post?

armandolee

armandolee

I'll tell you what is most important. It's the purpose of the organisation,what the organisation stands for,what you value and how you communicate those values(which what I call Marketing) and how you inspire people.
Look everybody have quality products,amazing service, low prices,a great history,skilled employees,genius management, is innovative..... Come on come on come on come ooooon!!.They shit ain't.It's the inspiration that you make in other people that counts.Even your uniqueness comes afterwards coz everybody's bring something different and new to the game.But if your product/brand lives in your customers' hearts,you are unbeatable.Trust me I'm an entrepreneur.

8 years ago

Are you sure you want to delete this post?

ksp62562

ksp62562

The time you spend on it.

8 years ago

Are you sure you want to delete this post?

CryptoGuru

CryptoGuru

personally i believe the most important asset of a succesful business is organization and planning, you guys mentioned having a great team and i do agree with that some what, but i run my business alone and im doing great, so with that being said i have a different point of view, i feel i have to keep myself organized and on point my greatest asset is being responsible in everything i do as far as my busniness i make sure im well self managed and i dont allow myself to sleep which keeps things runnning as smooth as possible, i dont know just an opinion

8 years ago

Are you sure you want to delete this post?

Webguy2024

Webguy2024

The most important asset of a business is the employees. Without great employees the business suffers on all fronts. In my experience businesses that don't pay attention to good hiring practices lose in the long run. Hiring a new employee is more expensive that actually saying "Your Hired". It takes man power hours, to train a newly hired person, this costs money. If the new hire eventually does not work out you are essentially paying for low or poor productivity and a litany of other negatives. This can cost a business a loss in sales which will hurt the bottom line. Company moral suffers if a company has a high turnover or unhappy employees. In the end, if management has to terminate an employee the costs associate with a termination gets even higher and worse you have to begin the hiring process all over again.

8 years ago

Are you sure you want to delete this post?

Cristian

Cristian

My best asset is the quality of my work and my desire to innovate and improve my working process. I'm also very keen to details along with the fact that I always give clients good constructive feedback, even if they're not asking for it, I just try to do my best to help them.

I'm doing great at the moment. I have lots of clients for freelancing at home and I'm doing fine at my workplace. Pretty confident thing will improve further in the years to come.

8 years ago

Are you sure you want to delete this post?

ajlancer

ajlancer

Yep! Cristian I like your comments as what is your main asset. I feel too. As a freelancer my asset also for quality work, do something new and exploring new things and ultimately make happy to clients. I like to work hard and I feel very happy myself as confidence freelancer. And confidence and exploring my real asset of my freelance business.

Regards by Ajlancer

8 years ago

Are you sure you want to delete this post?

ajlancer

ajlancer

Hi MasterA thanks for your nice question. Yes I agree with you, people are very importance asset for any business. And I think not only people, but also expert employees are the great asset of any kind of business. If you have expert employees, company productivity will be good quality and increase too. I think people is required but sometimes things may work more than human and it may depend on big business or small business. Some business only not relay on people. Sometimes robotic machine take over place on human. I watch discovery channel how to make things? And I saw machine very handy to make product in some reputed company like Toyota.
Finally I believe that skill people mainly asset of any kind of business

Regards by Ajlancer

8 years ago

Are you sure you want to delete this post?

Lynne

Lynne

I agree, the people in the business are it's greatest asset. Cristian said quality of work is the greatest asset, which is totally true... but who does the work that is such great quality?

If you have the right people doing the work it is your greatest asset.

8 years ago

Are you sure you want to delete this post?

Pixie06

Pixie06

Your employees and customers are your greatest assets. You need both to survive. Good employees will work hard and will try to attract as many customers as possible. If the employees provide a good customer service this will help the company to retain existing customers and attract new customers. On the other side lazy or bad employees will ruin the image of your company which will in turn affect profitability.

7 years ago

Are you sure you want to delete this post?

Corzhens

Corzhens

I agree that people is the best asset of a business because like in a car, the people is the engine and without the engine, a car is not a car. You can invest in real estate to gain a profit with the appreciation of the value later on. You can invest in equipment that can make the work easier and faster. But the best investment is with people. I always hear successful businessmen talk of their investment in people. When your employees are loyal to you then you have a good asset there especially if those loyal workers are concerned with the well-being of the business.

7 years ago

Are you sure you want to delete this post?