In this issue of the Quarterly, you’ll learn how to effectively transform industry disruptions into viable opportunities.
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Welcome to the final edition of the Quarterly for 2017. It’s hard to believe we’re already well into the fourth quarter and gearing up for 2018, ready to take on new challenges during the coming year. But before we welcome in the new year, we’d like to take a step back and deliver some great ideas around innovation and transformation in the engineering and construction (E&C) industry.
Here at FMI, we believe that the North American E&C industry has reached a tipping point and is ready to go down the path of significant innovation and transformation, driven by positive developments around technology, automation, robotics, advances in building materials, material science and the introduction of industrial processes to the built environment.
In this issue of the Quarterly, you’ll learn how to effectively transform industry disruptions into viable opportunities, leverage your board of directors to help create a culture of innovation, and successfully combine customer feedback into future product innovation.
Our authors also talk about the influence of high-performing teams—a key competitive advantage in today’s world, where projects demand more information, more coordination and more integration than ever before. Whenever we see companies outperforming their peers by two, three or even five times, in almost every case, it starts at the top, with the firm’s leadership. Beyond being well-positioned at the right time or operating in a growing niche, leaders of high-performing firms excel at pursuing clearly understood and compelling visions of what they want to achieve, how their organizations are going to behave, and how they are going to execute to achieve their goals. They do this by building highly effective teams within the organization that increase performance and hold everyone accountable for execution, follow-through and delivery.
As the new year begins to come into focus, we’re hoping to see more E&C firms adopting these mindsets and concentrating on customer demands, creating innovative solutions and services, developing high-performing teams and transforming the industry from the inside out. The sheer amount of national infrastructure that’s in need of upgrade or replacement is just one key driver, not to mention the availability of public finance and capital in general. The future looks bright; only through innovation and advancement will the E&C industry be able to fully leverage these advantages and continue growing and expanding in 2018 and beyond.