What is Business

Tools?
 A business tool can be considered as any asset that helps or assists
the organization to achieve its stated aims or objectives.
 There are various types of tools that may be used in a business
varying in size, complexity, danger, and importance to the business
operation.
 There are the large, heavy tools such as stoves, refrigerators, cars or
freezers.
 This unit aims to consider the items that are portable and valuable,
and by their very nature present unique management challenges to
the business.
 There are various considerations that relate to the management of
these items that are not applicable when considering their other
cousins.
 For example it is very easy to misplace a mobile telephone, but very
difficult to misplace a freezer.
 The cost of using a mobile phone can vary significantly; the cost to the
business of the mobile can be reasonable or exorbitant depending on
use.
 It is also a challenge to misuse a freezer. However, there have been
several cases where the misuse of a telephone has had significant
implications for employees and for the business.
 Modern managers must be able to manage these tools to ensure that
they are available when required, are in a usable and operating
condition and that the user is sufficiently trained to use the device
efficiently.
 A mobile phone must have a sufficiently charged battery, a mobile
service, and a user who is sufficiently trained or experienced to be
able to use the tool in an efficient and productive manner.
 To continue the example of the mobile telephone, it is possible to
imagine a situation where an employee is given a phone with a flat
battery.
 A charger is eventually found and the battery charged.
• When the phone is switched on it asks for a security code, which is
unknown, but also later located.
• When this is entered it is discovered that the bill has not been paid
and there is no service.
• This is a simple example of the care and management that is
necessary to ensure that the tool does meet the needs of the
business and that the tool enhances the performance of the business.
Example of Common Tools
 Each of these items represents an investment by the business and can be considered
important to the business. As they are portable they can be misplaced, require usage
monitoring, training, and maintenance:

 Digital Cameras – still, moving, and in mobile telephones

 Mobile Telephones
 Pagers
 Scanners
 Photocopiers
 Notebooks
 Batteries
 Dictation machines
 Order taking handhelds
 Laser pens
 Mice
 Keyboards
 Brochures
 Information Knowledge
 Facsimile
 Manuals
 Landline telephones
 Software
 Wiki
 Email
 The business web site.
Defining a Business Tool
 Each business will need to develop criteria so as to identify which
tools are to be monitored and therefore controlled to ensure that
time and effort is devoted to managing the proper and important
tools.
 Obviously a mobile phone supplied to a salesperson will need to be
monitored and controlled to ensure that all costs are consistent with
business activity. However, the mobile of the business owner is
probably immune from such controls. A mobile phone may be on a
contract and have a purchase price of zero, while a stapler to fix paper
together may cost a few hundred dollars.
• There are several criteria than may be used to identify and classify a
business tool, and most businesses will use a combination of these
criteria to establish the classification of an individual tool. Once
identified, the tools need to be considered as a group and it is logical
to provide a name for the list that recognises the importance of the
group. Possible names could be:
• There are several criteria than may be used to identify and classify a
business tool, and most businesses will use a combination of these
criteria to establish the classification of an individual tool. Once
identified, the tools need to be considered as a group and it is logical
to provide a name for the list that recognises the importance of the
group. Possible names could be
• Portable and Attractive Tool:
• This states that the item is portable and probably does not have a
fixed location. It also states they are attractive, meaning they could be
a target for theft or excessive use
• Significant Small Items:
• This is very similar as the items are small so they can be easily lost
and they are significant to the business
• Significant Small Tools.
• Regardless of the group name that is identified, it is important to note
that the tools:
• Represent an investment to the business
• Require control as their use or loss can represent a significant cost to
the business
• Will generally require training to prevent damage to the user or the
business
• Are attractive in terms of cost and can be attractive to a potential
thief
• Are often portable so they are susceptible to damage and loss as a
direct result of their portability and the exact location of a tool at any
time may not be known
• One criteria may be the asset value; another could be the usage cost.
Mobile telephones can be very inexpensive to buy – or are even
sometimes free – but the cost of calls or internet charges can be
frightening.
• Another can be the portability of the asset. Mobile phones and
portable computers are small and easily mislaid or concealed. A
computer monitor can also be very expensive but it is not very portable
or easily removed as they are often secured in place or fixed to the
computer which makes quick removal a challenge. Therefore, monitors
may be excluded from the tool list because they do not present a risk.
• Another can be the training necessary to use the tool efficiently and
safely. Although most tools require some training, the tools in this
group often have a wide range of functions and capabilities so that
some level of training is mandatory. In some cases some level of
training is required to be able to commence item usage
• Description
• Because every asset must be described in a register to ensure that
the asset can be identified, it therefore follows that each business
must create a set of guidelines as to what constitutes a good asset
description. There are many criteria that can be considered in the
description. Rules can be established for the various types of assets,
but the description could include one or more of the following:
• Brand or manufacturer
• Model or name
• Purchase date
• Supplier
• Warranty Expiry date
• Purchase price
• Department
• Physical location
• Serial number
• Asset number
• Colour
• Warranty responsibility
• Other non-attached items that form the tools such as: Cables
• Power supply
• Lens
• Memory cards
• Mice.
• Serial Numbers
• Most tools have a serial number that is attached to the device as part
of the manufacturing process. These are generally globally unique so
that no two serial numbers should be the same and they will identify
each item.
• Asset Number
• Some businesses will attach their own asset or serial number. This
has the advantage that the number can be created for each asset that
has identification within the number.
• Barcodes
• The asset number can be encoded into a barcode that can be easily
scanned to maintain records. These have the advantage of certainty
and the elimination of data entry error. The business needs the
equipment to be able to create these codes and attach them to the
tool.
• Radio Frequency Identification Tags (RFID)
• These are electronic tags that can be attached to items that will
communicate with electronic scanning systems that will allow
individual items to be identified while in groups. While barcodes
require individual item scanning, items with RFID tags can all be put in
a bag and passed through a scanner and each will be identified at a
reasonable distance.
• Storage location
• Where will the tool be stored? There are many places that can be used to store an
item: a desk drawer, cupboard, storage locker, or cabinet. The location needs to be
identifiable so there can be certainty as to the tools correct storage location.
Cabinets can be numbered or identified where there is a possibility of confusion
because they are similar in appearance. Shelves and boxes can also be identified with
labelling systems to indicate a unique storage location to ensure the tools are stored
in the correct location and the correct location can be found. Identification
numbering can be used that provides some indication as to the location of the
storage item. As an example, a classroom may have a number C113. This indicates
the room is in building C on the first floor and it can be found between 112 and 114.
Just as was proposed with asset numbers, storage location numbers, or codes,
should be constructed using a template or coding standards that allow the consistent
formation of the number or code and encourages the quick and certain location of
the storage position and the quick and certain return of the asset to the correct
location.
TERM EXPLANATION
Business tool
Business tool register
Identification criteria
Serial number
Asset number
Barcode
Radio Frequency Identification Tags
Storage location
Usage
Software
Wiki
Social Networking
Landline telephone
Roster