Which process involves managing items of significant economic value within a business?

Asset management is the process that specifically focuses on managing items of significant economic value within a business. This includes tracking, maintaining, and maximizing the value of physical assets, such as equipment, buildings, or vehicles, as well as intangible assets like intellectual property or brand reputation. Effective asset management aims to ensure that these valuable resources are utilized efficiently and are safeguarded against risks associated with depreciation, damage, or mismanagement.

While other options like financial analysis, resource allocation, and operational planning play important roles in business operations, they do not concentrate specifically on the management of economic assets. Financial analysis involves evaluating a company's financial data to assess performance and guide decision-making. Resource allocation refers to distributing a company's resources effectively in order to achieve its goals. Operational planning focuses on outlining the day-to-day functioning of a business to support overall strategy. However, none of these processes deal directly with the comprehensive management of valuable assets the way asset management does.