innovation

Ten Key Steps To Construction Innovation

The construction industry is at a cross-road. Construction owners, managers and contractors need to apply value, innovation and differentiation under a different business model to move forward.

Many of today’s industries were unknown a century ago. Cars, aviation, petrochemicals, health care and music recordings were un-thought of or just emerging.

Even in the past two decades, new industries such as mobile phones, genetics, snowboards and online entertainment have emerged.

Imagine the future. What as yet unknown industries will be commonplace in the next few decades?

Industries evolve or are re-created. The construction industry will not be immune to these changes.

Up until now, the focus has been on developing competitive strategies based on a war mentality, fighting over territory that is both finite and constant.

But the construction industry is not constant; it is evolving and primed for new possibilities in fields that as yet are uncontested.

Traditionally, when 80% of construction companies add ‘innovation’ they usually perform small improvements by tweaking at productivity or systems within an existing market to lower cost structure.

It’s only 20% who aim for uncontested market space.

With the majority of products and services offered by the construction industry being similar, the only differentiator is price, with shrinking profits for contractors being the result.

Brand loyalty, generally, is on the decline – so for contractors who expect clients to remain loyal while their product remains the same – they’re asking too much.

So how can the construction industry break out of a traditionally competitive space and create innovation through a systematic approach towards change and in the process deliver high performance?

1. Perform a Strategic Gap Analysis

Review existing products and services offered and compare against client needs, usability and functionality.

Identify traditional and non-traditional markets.

2. Map your buyer-experience from purchase to end-product/user, including execution, use, supplementary services, maintenance, functionality and form.

Map procedures, services, usability, process, control, maintenance and functionality against client experience (communication, value, convenience, risk, environment and image).

3. Create a value chain within these buyer-experiences.

Identify resource hurdles, motivational factors and role of influencers.

4. List buyer blockages

Price, location, environmental considerations, knowledge equity, service, lack of differentiation

5. List competitive factors of your products and services that affect buyer decision.

For example: Consider value against: utility, price corridor, cost structure, streamlining, customer productivity

6. Identify your current customers and non-customers against a needs structure and/or buyer blockages.

For example: fringe customers, alternative niche customers and not-applicable customers.

7. Consider which products or services your company could pioneer or forge into new territory with.

For example: in what ways can you reach beyond existing demand?

8. List products or services in your industry that are conformist – ie based on competitive benchmarking, imitation and price competition.

List long-held assumptions about your industry and ask ‘What List Of Building Materials For A House if’ questions to break boundaries of conventional thinking.

9. Identify ways to bundle or package product offerings to add greater value.

What complimentary products and services does …

Construction and Innovation

There are more and more establishments that are being built today. It ranges from the small-scale to huge scale business corporations. Construction is without any doubt the core and the heart of these enterprises. It is the foundation of these companies that would characterize its potential in the many years ahead.
Construction is the major initial step in any business venture. Along the process, one should be able to choose the materials that are best suited for the business that would result subsequently to productivity and durability. Today, the industrial world presents to us various options to choose from as to what is the right and appropriate material to use. The choice we make would massively make or break the success of the construction and manufacturing operation.
Furthermore, the design is just as important as the quality of material in each construction. Externally and internally, the establishment’s design should look firm, appealing and aesthetically exceptional. Nowadays, it is vital that the designs should be born from the depths of innovation and could spark an interest among the people. It is for the reason that these people could be the potential clients that would help boost your business and bring you the amount of success that would sustain your operation throughout the years to come. For instance, owners of hotels, restaurants or bars should make sure that they construct eye-catching establishments to draw clients and customers.
Electric glass is among the best materials that will bring the kind of construction beauty and the durability that you need. It is absolutely the type of glass that says “contemporary”, “creative” and “state of the art”. Electric glass when use would provide comfort, amusement and pleasure. As amazing as it is, it is the kind of glass that could emit projection displays. This would effectively be a source of pure entertainment with the public. Moreover, it is safe for it has UV protection. Hence, it does not only captivates the eyes but also it secures our health. Additionally, electric glass saves energy – a great way to lessen the expenses of your business.
More to that, electric glass could be use for hospitals to hotels to churches and to bars. It is as extraordinary as that. It is best suited for every establishment, Owner Subcontractor Agreement bringing the kind of quality and design that you long for. It might be that there are a lot of glasses out there, but electric glass is just one of a kind.
The construction industry is enormous. Yet, the choice is still up to us. It is in our hands that lie on whether we will choose the right course in the construction process. It is essential that this basic and primary step be as much as important of that vision that you hold in your mind.
The industry took an immense leap forward at these present times and it definitely change the way we do Construction Progress Payment Template. It is up to us to utilize …

Collaborating Online – An Enabler for Accelerated Innovation

It is amazing to read so many articles, press releases with regards to how businesses and organisations are only now starting to consider and accept online collaboration as an every day activity. The ability for a business and organisation to be able to do everything internally is long gone.

Clearly there are sectors and industries which are quicker to adopt and use online collaboration. As you may know, one of the key sectors that I work in is the Life Sciences, who typically were very conservative to accept new ways of working. However, the days of having a very rich pipeline of new products and existing products being sold very profitably have all but disappeared or in some cases has already gone.

There is the “patent cliff” where for some pharmaceutical companies this cliff is quickly approaching. When they go over the edge, they can loose as much as 50% of their sales revenues to the generics in the first 12 months. The increase in regulatory compliance, the move to personalised medicine and the enormous pressure on Pharmaceutical companies to reduce the cost of their products is creating a major problem with regards to growth, profits and share price. It is clear that the analysts will not stand another decade of huge investments per annum and no new products to show for it.

Coupled with the impact of an ageing population and the increase of chronic diseases is putting severe strain on the health-care Best Remodeling Contractors Near Me payers budget to pay for these medicines. And all of these challenges are all converging at the same time!

The Pharmaceutical sector is not alone. For example there are other distressed sectors such as the construction industry, who also have to rethink and change the way they deliver projects and services – very quickly.

So what are these sectors and companies doing, to try and rectify this?

Well unfortunately this has resulted in the inevitable “knee jerk reaction” to initiate internal reorganisations because of cost pressures, which in some cases have been hidden by the previous profits and rich pipeline in the case of the Pharmaceutical industry. Now that existing products are coming off patent with no pipeline of new products to replace them, to sustain and grow their profit revenues, partnering and collaborating externally has to be an option.

Reorganisations, although painful help businesses to realign their resources to core activities which they are good at and are consistently required. However, to address the fundamental problem of replacing old products and creating new products will rely on an accelerated innovation capability. This means partnering and working more efficiently and productively both internally and externally.

To be able to collaborate externally with external partners, which means remotely will require online collaboration as one of the solutions. This in the first instance will be a major culture transformation process for many businesses and organisations. As a result it will be painful and difficult for some. However, to facilitate this using the correct …