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With more innovative ways of working comes the ability to create agile solutions through collaboration and a greater focus on insight.
The UK steel industry may be facing tough times, but the manufacturing and construction sector has also given rise to some positive headlines in recent times. For a start, the Markit/Cips UK manufacturing PMI report at the end of October came in well ahead of expectations. With September’s figures revised upwards to 51.8, those for October came in at 55.5; well above market expectations. With anything over 50 signalling growth, not only did these figures mark the fastest growth in production for 16 months, the report also indicated that the improvement was across the board with imports and exports both rising above expectations.
The sector was further boosted by a report from Nabarro which revealed that the UK retains its top position in the world infrastructure index. In fact, whilst the previous report highlighted areas such as ease of doing business and innovation, improvements in areas such as a positive tax regime and strong level of private participation has helped the UK to move further ahead of its nearest rivals.
But this is no time for complacency with disruptors from across the world waiting in the wings to capture business. As Lord Adonis, Chair of the National Infrastructure Commission, said when he commented on the Nabarro report “it is paramount that the UK also identifies and secures a good pipeline for investors.
This then is the challenge for the wider manufacturing sector. A global marketplace demands global solutions if organisations are to successfully fend off the challenge of disruptors who can come from any sector or any country. Businesses simply can’t bank on the status quo carrying them through. This means that be successful in the future, organisations have to embrace a more innovative model which seeks to provide genuine solutions which add real value for the customer and drive growth for the creator. This will require a shift in organisational structure and culture but with more innovative ways of working comes the ability to create agile solutions through collaboration and a greater focus on insight.