Many industry professionals may have different understandings of downtime, and what effects it may have on their businesses. However, at this point in the Eliminate Downtime journey, we felt that it was time to narrow down the language we use to discuss downtime. Doing this will give us a common understanding of the concept. In the blogpost “Downtime is the Elephant in Every Room” we discuss the different aspects of the downtime model, and explain what every section of the model means. Through the Eliminate Downtime Model we hope to give every person in the ecosystem the opportunity to view the bigger picture of Eliminating Downtime, and thereby we hope to ease the opportunities for effective collaboration throughout the ecosystem. 


The Chicago x Downtime event has also picked up some more media coverage. Forconstructionpros.com picked up on the event and wrote about beating machine and worker downtime. It is a great snapshot of the event if you would like a quick overview. 

This month we look at innovation, and how to properly scale innovation so that it works for your business. This is an important part in the process of transforming any company. I also want to clarify that digital transformation does not have to be disruptive. Rather, it can be a process which enables your organization to better cater to your customer’s needs. I also read an article about preemptive transformation, and the benefits of transforming while your organization is healthy. Some really great reads that lead to this months key questions to consider: 
  • How can your organization use a combination of digital and physical to deliver the best customer experiences? 
  • Are you using clearly defined goals to steer your company's transformation?
  • How can preemptive transformation be used as a tool for future development?
 
 

INNOVATION AS THE CORE OF YOUR ORGANIZATION


Accenture: "Scale digital innovation like a champion"


For an organization to succeed it must continuously innovate. However, companies are struggling to implement these innovations successfully, and are unable to scale at a suitable rate. This article identifies the four biggest challenges that companies face when scaling innovation. It gives an insight into what problems to avoid when implementing new innovations. The article further elaborates on the successful scaling of innovation by giving four tips on how to scale innovation like a champion. These include; 
    • Clearly defining a goal 
    • Blending the organizational changes with digital transformation
    • Building in-house innovation factories with targeted influence
    • Finding out what enables innovation in each business function
These tools are a great asset when scaling innovation. This read is great for anyone that wants to learn more about the innovation process and scaling innovation like a champion. 
 
 
ENABLING NEW OPPORTUNITIES THROUGH DIGITAL CHANGE

Harvard Business Review: "Digital Doesn't Have to Be Disruptive"


Many leaders in today’s industries understand that there is a need for digital transformation. Yet many may not fully understand what this journey entails. Simply put by Furr and Shipilov, digital transformation is “the adaptation of an organization’s strategy and structure to capture opportunities enabled by digital technology”. This article stresses how a digital transformation does not have to reinvent your organization’s identity or business structures. Rather, digital transformation should be about the incremental changes an organization makes after identifying a change in the consumer’s needs. This article gives many great examples of companies that have used incremental steps of digital change to improve their customer experience. 
 
 
"CURE THE DISEASE THAT HAS NOT YET HAPPENED"

BCG: "Preemptive Transformation: Fix It Before It Breaks"


Waiting for a problem to occur before acting upon it could be detrimental for your company. In this article, the authors explore the benefits of preemptive transformation. They find that companies that decide to transform even though they are outperforming other companies have the most successful transformation. These transformations have better financial returns, but they are also less costly, less timely, and lead to increased leadership stability. To achieve a preemptive transformation companies should be looking at constantly exploring new opportunities. They create a sense of urgency and are able to watch out for early-warning signals. By controlling the narrative and choosing the right approaches to change, companies who preemptively transform will have an advantage over their competitors that wait to transform until it’s too late. 
 
 
If you would like to stay up to date with the Eliminate Downtime journey you can check it our here. You'll find the latest highlights from past events, or you can check out upcoming events as well as videos or an archive of past newsletters.

Through collaboration and partnerships we can get closer to our goal of eliminating downtime by 2025. 

If you have any great reads, please share them with me at: sbj@trackunit.com

- Søren Brogaard Jensen, CCO Trackunit
 
Trackunit
Gasvaerksvej  24
DK-9000 Aalborg
 
Copyright @2019 Trackunit

Gasværksvej 24 • Aalborg, Nordjylland 9000 • Denmark • Click here to unsubscribe.