Define asset and provide an example of an asset within the context of a university environment
An asset is a resource with economic value that an organization owns or controls, which is expected to provide future benefit.
In a university environment, an example of an asset could be the university's campus buildings and facilities. These physical assets provide a space for students to attend classes, faculty to conduct research, and staff to administrate the institution. The value of these assets can be seen in their ability to generate revenue through student tuition fees, research grants, and other forms of funding. Additionally, they contribute to the overall reputation and success of the university in attracting students, faculty, and other stakeholders.