Lately in the media we are hearing dismal news on the economy and analysis and testimony regarding opinions on various government bailout programs. The discussions of late include arguments for and against bailing out the Big Three Auto Manufacturers, among other things.
I won't offer any advice here on how to run the government or on what the automotive industry should do. However, I would like to cite some general principles that have led to success in the software and process industries. Gregory Hale, InTech Editor, validates my thoughts on this subject with examples from another software entrepreneur in the October, 2008 editorial, "Today, it is innovate or wither."
Success in industry today requires innovation and "unconventional thought," leadership, and backbone. It also requires freedom to be creative and innovate, which requires risk. Americans' claim to past success in key manufacturing industries has been our productivity numbers. In today's markets, that is not enough, especially in manufacturing. Just making more, faster, may not lead to profits. We have to look back to our pioneering and entrepreneurial roots of our early history to find the true reasons why America became great. It was the freedom and opportunity in a totally open market.
Matt Bauer, chairman of MESA says, "Innovation is all about bringing together new ideas, new concepts, and capabilities in unique ways. It's about manipulating the established to create something new." I see that happening still at some companies, and innovation is positively affecting industry here in the Midwest and worldwide. I am innovating every day in the online virtual classroom worldwide.
When we focus on customers, specific solutions, and customers' ROI (best value), we will be profitable and successful. The key is to focus on solving our customers' problems and help them save on cost and generate more revenue. We must spend most of our time in new development to provide the best long-term solutions.
Hale, Gregory. "Today, it is innovate or wither." InTech. October, 2008. Retrieved from http://www.isa.org/InTechTemplate.cfm?Section=Talk_to_Me1&template=/Cont entManagement/ContentDisplay.cfm&ContentID=72107 on 20 November, 2008.