ROI

The industry’s next generation is on the rise.

I am continually amazed at how many people I see and run into at each industry meeting or event – especially at technical meetings when I’m watching people leave one room and enter another for the next session. It strikes me a bit like watching the changing of the guard at Buckingham Palace – people leave one room to enter the next to do the same thing, and repeat!

One thing that makes our industry so strong and enduring is having so many people work together to contribute to developing and refining technologies, writing standards for those technologies and processes, and sharing their knowledge with others to fully understand those technologies and standards. And then as they say, “repeat.”

Read more: Changing of the Guard

Exclusively staying ahead or behind the technological curve can lead to misfortune.

Over the past decades, it has been my experience that there are two basic categories of technology: "cutting-edge" and "behind the curve." Electric (rechargeable) automobiles, for instance, would be considered cutting-edge while hybrid (gasoline and battery) automobiles are behind the curve.

Interestingly, when it comes to technology adoption, there also seem to be two types of users. There are those who must be ahead of the curve, always first with the latest technology regardless of how well it may work or how much it costs. And there are those who use only proven technology that is reliable, cost-effective and offers value.

Back in 2013, a friend took delivery of an early Tesla Model S. He was so excited to finally have an electric car, and it sure was a beauty. I remember asking him how it drove. "Like nothing else I have ever driven," he responded. But when I asked how far it could go between charges, he replied "I do not know."

Read more: Striking a Balance in Capex Decisions

Look past the scary headlines and stay focused on business plan fundamentals.

Welcome to 2023. As ready as we all try to be when beginning the annual cycle of booking orders, scheduling resources, shipping product, and oh yes, collecting payment, this year many are still tweaking their annual budgets. The effects of rising inflation and a prolonged unstable supply chain are causing many to rethink how they must operate their business to maintain margin and profitability.

Read more: Remembering the Basics

The needed combination of experience and willingness to travel is hampering certification programs.

In just about every industry, be it design, make, service, support or advisory, the most-heard complaint – and frequent challenge – is finding people. And while Barbara Streisand beautifully sang how “people who need people are the luckiest people,” I think most in business would call themselves anything but lucky. Certainly, they are at a point where they too often are counting on luck to fill open positions.

Read more: When It Comes to Auditors, is Our Luck about to Run Out?

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