Last week marked a milestone on the journey of Eliminating Downtime. The Downtime Festival 2021. It was the first big virtual event we hosted and both customers, partners and Trackunit employees participated. As part of the event, we also launched the latest product in the Trackunit lineup. The Trackunit Kin. With the Trackunit Kin, we’re closing the connectivity loop and creating a complete overview of your machines and assets. If you weren’t able to join the Kin Launch, check it out here.

Some key topics at the Downtime Festival were people and purpose. That’s also why this month’s newsletter is dedicated to looking at people, purpose, and culture, three factors in building a strong organization that is just as important as the products or services your business delivers.
 
 
Let’s take a look at how to create purpose and why it is so important. How culture will enable your business, and how people play a large role in using new technologies.

This month’s key questions to consider are:
  1. How does your organization’s purpose enable change?
  2. What type of culture are you trying to build at your organization?
  3. How can people and machines work together to create more efficient processes?
 
 
 

WHY PURPOSE GIVES PEOPLE

THE POWER TO CHANGE
 

Forbes: "How To Build A Corporate Purpose That Will Help Navigate Change"

 
Research conducted by Bain & Company has shown that companies with a purpose generally experience faster growth, strong leaders, and engaged employees. It can be a significant driver of change, but it can be hard to get right. This article describes not only the importance of purpose but how you can go about building it. It requires reflection and good communication. Conveying a purpose that is well received internally and externally is an investment that companies need to make, an investment that will help drive change and create a stronger business.
 
 
 
 

CREATING A HIGH PERFORMING ORGANIZATION WITH CULTURE

 
 

McKinsey & Company: "Culture: 4 keys to why it matters" 

 
On the same line as purpose, culture is equally as important. Although this is an older article, its relevance remains. It outlines the reasons why it is so important. Citing that performance, uniqueness, adaptability, and health are the key results of a well-established culture. It takes time to build it up and will depend on many factors. But a strong culture can be an advantage for any business.
 
 
 
 
THE IMPORTANCE OF PEOPLE IN AI
 

HBR: "Collaborative Intelligence: Humans and AI Are Joining Forces"

 
We have all heard about the powers of AI. The opportunities to create better processes that will increase our efficiency in a multitude of industries. But we’ve also heard about the dangers of AI. That people are worried that machines will take over their jobs. This article points out that there is no need for this fear. The cooperation between machines and humans is a synergy where both parties are essential to the process. There are ways in which machines help humans, but also vice versa. Give this article a read to get an idea of how humans and AI work together to create optimal solutions.
 
 
 
If any of these articles have sparked any ideas or questions that you may have, please reach out to me. Initiating conversation and creating awareness is how we will be able to succeed in our journey of eliminating downtime.
 
- Søren Brogaard, CEO Trackunit
 
 
 
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