When I was in my early twenties I earned a black belt in Karate. I was proud of myself for the first few weeks. But then I realized how commonplace that first degree ranking was. My Sensei and I sparred and it was a sparring match I have not yet forgotten. I sustained quite a beating. The punches I took and the kicks I absorbed were not the things I remembered. Sensei's words, during that fight were what still resonate with me today. "Come on! You're a black belt now!" I realized at that moment that a black belt was not a differentiator. It was a rank that proved that I'd accomplished little more than the prescribed best practices, sprinkled with a bit of my own moxie. Externally, to my friends and family, it was an impressive accomplishment. Internally, in the dojo, it was an indicator that I was ready to learn and develop at a more serious level.
If your performance management strategy is to achieve PAS 55 certification or something similar, then your business will conform to what many of your competitors have done and what many entrants are relying on to get a foothold in the markets you compete in. When you and your competitors conform to a specification or a standard, this only sets the stage for the eventual erosion of margins and maybe even complacency.
"Good strategies emphasize difference—versus your direct competitors, versus potential substitutes, and versus potential entrants." McKinsey Quarterly
Of course there are methodologies and standards like IEC 61508 that are established and followed for process safety and the protection of people and the environment. But when it comes to asset strategies, how do you test yours to see if it beats the market? Reliability best practices don't make your assets competitive differentiators, they make them commonplace. A good asset strategy management program, that includes a strategy-testing approach, is what differentiates your asset performance against the best performers in your market.
There are plenty of first degree black belts in Karate. There are many schools out there that will even grant a black belt to a little kid. I've learned in the last twenty years that whatever you do in life is only worth doing if what you do is tested and refined. Best practices will keep you where you are at. Successful strategy will allow you to differentiate.
If your performance management strategy is to achieve PAS 55 certification or something similar, then your business will conform to what many of your competitors have done and what many entrants are relying on to get a foothold in the markets you compete in. When you and your competitors conform to a specification or a standard, this only sets the stage for the eventual erosion of margins and maybe even complacency.
"Good strategies emphasize difference—versus your direct competitors, versus potential substitutes, and versus potential entrants." McKinsey Quarterly
Of course there are methodologies and standards like IEC 61508 that are established and followed for process safety and the protection of people and the environment. But when it comes to asset strategies, how do you test yours to see if it beats the market? Reliability best practices don't make your assets competitive differentiators, they make them commonplace. A good asset strategy management program, that includes a strategy-testing approach, is what differentiates your asset performance against the best performers in your market.
There are plenty of first degree black belts in Karate. There are many schools out there that will even grant a black belt to a little kid. I've learned in the last twenty years that whatever you do in life is only worth doing if what you do is tested and refined. Best practices will keep you where you are at. Successful strategy will allow you to differentiate.
