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Summit delivers a high quality service offering due to the depth and breadth of our experience and expertise. Our approach provides all stakeholders with a high degree of comfort knowing that there is a highly competent team involved with the necessary dedication and commitment OUR SERVICES INCLUDE: Directorship services to a broad range of structures including funds, private equity and venture capital structures, management companies and structured finance vehicles; Commodity pool operator services and associated filings; Board support services including preparation of agenda, board packs and minutes; FATCA and CRS support including FATCA delegate and Principal Point of Contact registration and associated reporting; Registered office services and associated filings; Physical presence services; Liquidation services; Accounting services including the preparation of financial statements; and Notary services.

The quality or the lack thereof can be a huge contributing factor to a fractured and sluggish digital journey where ROI is hard to achieve and results come in short supply. The quality of data has a direct impact on the ability of the enterprise to be aware of relevant events, its reaction time, the decision time and its action time. A clear and concerted effort is required to measure and improve the data quality to drive better decisions and actions. Common Quality Issues The following are the most common quality issues Comprehensiveness Comprehensiveness quality issues refer to key attributes or data points missing from the data collected by the enterprise. This can occur when the data producing systems or the data delivery networks have glitches or malfunction or are incorrectly configured to miss entire rows of data or attributes of the data. Integrity Integrity quality issues refer to the corruption of the values of key attributes to contain unidentifiable or unreadable data. When key attributes are empty or null when they are by design, not allowed to be empty/null or when an attribute contains a value that does not meet the specifications of the type of the attribute for example, a string column contains an integer or a timestamp column contains a string not parse-able into a timestamp. Integrity of data is important before data can be included in the data set to drive analysis, decisions and actions. Sampling Sampling quality issues refer to the inclusion or exclusion of a certain percentage of the records in a data set with the assumption that the remainder records are good, representative sample of the original data set. Bad or inaccurate sampling can lead to a distorted view of reality and that can lead to bad decisions. In addition, sampling itself can make the data set inappropriate for certain types of analysis that require the entire dat set to be utilized for training. Filtering An upstream filtering scheme can end up removing too many or

One of the key milestones on the Digital Journey starting with a Digital Strategy, Digital Transformation and then sustaining on Digital Innovation is the point where the enterprise reaches a point of data maturity powered by a single, organization wide, consistent version of the truth including the state of the customers and the state of the business and the state of the employees. This point is critical as it becomes the launchpad for several, forward looking initiatives including Artificial Intelligence, ChatBots, Blockchain etc. "Complete" A Complete version of the truth ensures that the following criteria is met: Entity Pivot The key entities that need to be tracked to generate a complete, comprehensive version of the truth are the following Employee Employees, regardless of customer facing or not, need to be understood including where they excel vs. struggle and where their struggle impact the customer experience. Key information about employees that should be tracked is what the employees are working on, how productive they are and how often they introduce delay and errors in business processes. Business Business visibility requires that the enterprise be able to track key metrics such as customer lifetime value, customer attribution, customer acquisition cost and customer satisfaction. In addition, the stage of the customer ranging from prospect to commit to paying customer to abandoned needs to be tracked. In addition, the customer's quality of service and experience needs to be tracked and understood. Customer The most critical of the three is the understanding of the customer. Customer KPIs have a direct impact on and are completely impacted by the Business and Employee KPIs. It is extremely important to understand how customers are searching for, discovering, learning, understanding, using and continuing to use the product and services delivered by the enterprise. In addition, it is important to understand what capabilities drive what kin

GHS Label Information When it comes to labels, few are better known than the GHS labels (even if people don't always realize that is what they are called). GHS, or the Globally Harmonized System, is an international set of standards that are agreed upon to help ensure people from across many industries and around the world are all using universally recognized standards. This includes standards when it comes to the classification and labeling systems used for dangerous chemicals. The GHS labeling standards are used by regulatory agencies as well, including OSHA. While GHS is not itself a legal regulatory agency, most companies are required to follow their standards in this area because of the fact that their standards are adopted by governmental bodies. Common GHS Terms Whether reading GHS labels or making them, it is important to be aware of some terms that are commonly used. SDS - Safety data sheets are required to go along with most GHS labels. These data sheets can provide more detailed information about chemicals and other potentially hazardous materials. Class - Different types of hazards are broken up into different classes. Gasses that are under pressure would be one class. Acids could be another, just to give some examples. Hazard Groups - Hazardous materials are broken down into three groups, environmental, physical and health. Hazard Statement - Hazard statements are standardized to describe specific hazards. These statements give brief but essential pieces of information about the items being labeled. Precautionary Statement - This is a statement that provides instructions on how to avoid dangers when working with these materials. Signal Words - Signal words are DANGER and WARNING. Danger is to indicate a higher level of risk, while warning is for when there is a potential for harm but it is not quite as serious. Pictogram - Pictograms are the visual representation of specific risks. Typically they will just be a black image that is ea

Ten Tips to Help You with Your Kaizen Continuous Improvement Strategy The Kaizen methodology encourages ongoing efforts to ensure continuous improvement throughout a facility. This improvement can come in many forms including waste elimination, improved efficiency, safer work environments and much more. To simply say that a facility is employing Kaizen strategies, is essentially meaningless if you don't have any concrete action items you are following. Whether you're just getting started or you are looking for ways to reinvigorate a Kaizen strategy that is not effective, the following ten tips will be very helpful. Each one can give you ideas on what you can do encourage improvement and allow that improvement to grow and expand long into the future. Tip #1 - Harness the PDCA Strategy One of the key concepts used in Kaizen is the "Plan-Do-Check-Act" strategy. This is a quality model that can be used when implementing any type of improvement in the facility. As you might expect, the PDCA strategy is a cycle of ongoing improvement that should never end. The steps are as follows: Plan - This step is where you identify an area where improvement is possible and make an initial strategy on what chance should be made to realize the desired improvements. Do - Implement the change, but only on a small scale. This may mean having one department make the change in some situations or for larger corporations, having one facility make the update. During this step it is also very important to be gathering as much data regarding the change so it can be properly evaluated. Check - Review the results of the change including the data that was collected. Looking to see if they had the desired impact or not is critical to know whether you should move forward with rolling the change out to other areas. Act - IF the data in the check step points to a success, it is time to push the change out on a wider scale. Once the change has been successfully implemented you wi

Improving Hazard Communication in the Workplace Hazard CommunicationIf you're looking for ways to improve the overall safety of your facility, one of the best places to start is with an evaluation of your current hazard communication standards. According to OSHA, hazard communication violations are the second most commonly cited violations, as of 2012. In 2012 there were 4696 citations given in this one area alone. Sadly, very little has been done to change this problem over the past several years. Understanding how your facility communicates any type of hazard, and working on ways that can be improved, is an important part of keeping everyone safe. One of the best places to start is to review the OSHA regulation on this topic, which is titled, "Hazard Communication - 1910.1200." This will give you all the requirements that you will need to follow in order to keep people safe, and avoid any citations. Key Points in Section 1910.1200 After reviewing the entire section on this topic, you will want to go back and really focus on a few key points. These are some of the areas where most of the citations were given out, and also where some of the biggest risks exist. The following key points will be great places to start when it comes to improving the way your facility handles hazard communication: 1910.1200 (b)(2) - This is the section that covers how you need to communicate hazards that apply to any chemical that exists in a way that employees could become exposed to it. This applies to both normal exposure, and exposure during a foreseeable emergency. 1910.1200(b)(3)(i) - In this section, it details the requirements a facility has concerning the labeling of chemicals that come into the facility. Specifically stating that the labels may not be removed or defaced. 1910.1200(b)(4)(iii) - This area explains in detail that employers need to provide employees with sufficient training on how to react to a potential chemical spill. This includes how to

According to the Insurance Information Institute, 40% of businesses affected by a natural or human-caused disaster never reopen. When disaster strikes, consumers can only wait so long before moving on to another supplier or service provider if you are not able to get operational in time. Insurance might help to recover some of your loses, but it will do little to replace your customers. More importantly, the safety and well-being of your employees as they cope with disaster is a hefty task in itself to take on. In light of recent events, many organizations are left wondering, are they ready and prepared when disaster strikes? So just what does it mean to be ready? Investing in a preparedness program can make all the difference in the world when disaster strikes and promote an internal belief that your company is ready for disaster when it strikes. This policy should reflect the mission and values of your organization that can be implemented seamlessly throughout the company. Focal points of your preparedness program should detail specific goals including: The overall safety and protection of your employees, visitors, and any other persons that may be at your facility when a disaster occurs. Don't forget to account for persons with disabilities and special needs. Keeping customer service operations functional Protection of assets, both in the physical and electronic form Environmental protection and contamination prevention Companies image and reputation Having a team to help continue the improvement and implementation of your program is vital to its success when needed. Your team should meet regularly to continue the development and focus of the program. Each individual will have their own role and responsibilities when disaster strikes, a proper preparedness program will identify these, insuring an accountable team to help in the recovery process. How do you know what to plan for? It's impossible to predict what the next disaster will be, but accounting f

So here's how today started out… We got an email from a guy who took issue with one of our recent infographics, 10 Astonishing Facts About Arc Flash. Here's what he wrote: "Have you seen the commercial for the insurance company that uses the premise "If it's on the the Internet, it must be true"? I have still not seen the source of these statistics. The Capschell report is what all of these websites, all of which involved in the business of Arc Flash for profit ($$$$), including yours, use without merit. […] Even NFPA 70E does not not cite the source of the statistic regarding "2000 injuries per day". Don't just give me another website that says that again, show me source (ie the study) that produces those statistics. I am not, by any means, attempting to reduce the importance of arc flash, arc flash studies or PPE. I just have a problem when companies use these types of statistics without regard to the source or veracity of the information. Fear Mongering is the term that come to mind. It's on the internet so it must be true." I believe whole-heartedly that our marketing team did a significant amount of research on Arc Flash prior to creating this infographic, and I don't believe the intent of our marketing team to promote or perpetuate bad information. However, I can understand this person's sentiment, and I wanted to know myself what the real numbers were. So, the hunt for accurate data began. Before I go further, it should be addressed that our infographic says that there are 2,000 injuries each year, not every day. Still, where did this figure come from? I started searching to uncover where the 2,000 injuries per year came from. I asked the marketing team for their source, and they provided me with the official NFPA 70E 2012 Handbook. In Annex K(3), it states plainly that 2,000 people a year are injured as a result of arc flash. But, as our accuser points out, there is no citation. Because this is NFPA, a standardization or

Many businesses need and even require the use of safety signs to warn employees and customers of potentially hazardous areas. However, the task of finding the right signs to portray the right message, along with finding a reputable company to provide the signs may be more difficult than originally intended. We are here to ease some of that burden with 10 helpful tips for finding the right safety signs to satisfy your business needs. 1. Identify Areas that May Need Safety Signs Before even beginning a search for a safety sign supplier, the first step in the process should be to accurately identify any areas within your facility that may be in need of safety signage. Think of all areas used by employees and/or customers such as aisles, walkways, fork lift zones, hazardous waste areas, potential slippery surface areas, etc. The key here is to identify all the locations that could pose hazardous conditions so proper signage can be created. 2. Pinpoint Potential Safety Hazards. Once certain areas have been designated as potentially hazardous, the next step would be to determine the actual safety hazards in the area that pose risks. An example of this could include an area where liquids are routinely transported. In this case, a spill may be likely which could endanger employees or customers due to the enhanced risk of a slip or fall. 3. Determine the Message to be Conveyed by the Signage Signs are posted everywhere, from "Watch Your Step" signs to "Employees Only" signs. However, for a sign to be truly effective it must convey a clean and clear message that can be understood easily by nearly anyone. For instance, in a work environment that includes welding, safety signs warning of potential arc flashes may be needed. In this case, a sign should be posted instructing anyone who enters to wear proper protective gear, this sign could read "Warning: Arc Flash Zone Proper Protection Required." 4. Consider the Conditions where the Signs will be Located Now

Fire extinguisher Maintenance Fire extinguisher servicing or maintenance is required annually as per British Standard BS BS5306:Part 3:2009. This is carried out to ensure that the extinguishers are safe and will always function in the event of a fire. Independent Fire Services will always carry out maintenance to BS5306:Part 3:2017. Ensure your fire extinguishers are supplied and maintained to the highest standards by always using a third party accredited company such as Independent Fire Services Ltd which is accredited with BAFE (British Approvals for Fire Equipment). To gain this accreditation the company had achieve ISO 9001. Our engineers must do extinguisher maintenance re-fresher training every three years and also have an external audit within the same time frame. Fire Extinguisher Supply Independent Fire Services supply extinguishers of the highest standard. All of our fire extinguishers are supplied to BS EN3 standards and are BAFE approved and carry a five year guarantee if maintained by us. The range of fire extinguishers we offer includes: . Water extinguishers . CO2 extinguishers . Foam extinguishers . Powder extinguishers . Wet chemical extinguishers . Specialty Extinguishers Fire Safety Training Current UK legislation requires employers to provide training in the actions to be taken in the event of fire. We can help you meet this requirement by providing a range of comprehensive fire training courses, that include: Basic Fire Safety Fire Safety Awareness Fire WardensMarshall Training Train The Trainer Ensure you comply with government legislation and read more about our fire training courses. Dry Riser Testing and Maintenance In buildings which have Dry Risers these must comply with British Standard BS9990:2015. The annual testing and maintenance of Dry Risers is the responsibility of the property owners or managing agents. British Standard 9990:2015 recommends that the system is visually inspect

A stroke, also referred to as a "cerebrovascular accident", is a type of brain attack. When a stroke occurs, the blood flow to the brain is interrupted. A stroke is a medical emergency as it can cause brain damage and even death. In India, the stroke rate is high, and it has been noted to be the fourth leading cause of death in the country [1]. Strokes have also been noted to be the fifth leading cause of disability in the country [1]. This makes it important to understand the symptoms and cause of a stroke, so that quick action can be taken during this medical emergency. The recognisable and visible symptoms of a stroke include - A sudden loss of balance and movement. One or both sides of the face begin to droop. Sudden changes in one or both eyes. Speech becomes slurry. Being urgently taken to the hospital and getting medical attention is very important in case someone is having a stroke. In case you notice any of these symptoms in your loved one, call an emergency ambulance service by dialling 108. You can also call MedCab's fast private ambulance service at 18008-908-208. What Causes a Stroke? There are two types of strokes. Ischemic strokes occur due to a blood clot in one of the blood vessels connected to the brain. Hemorrhagic strokes occur when there is a rupture in one of the blood vessels of the brain. The causes for Ischemic strokes can include heart problems, blocked arteries, high BP, and diabetes. The causes for Hemorrhagic Strokes can include uncontrolled high BP, aneurysm, and brain tumours. There are several risk factors that can make one vulnerable to a stroke - Heart disease - Irregular heartbeats and other forms of heart conditions can make one vulnerable to a stroke and even cause death. High BP- Any blood pressure over 140/90 is considered high and causes damage to the arteries that supply blood to one's brain. Smoking - The risk for an ischemic stroke increases significantly as a result of smoking. Prev

Workplaces today are extremely safe compared to what people had to endure generations ago. This is in large part because of the increased focus employers have put on workplace safety. Employers made this effort for a variety of reasons including regulatory pressure, the best interests of their employees, and of course, the fact that a safe workplace is a more profitable workplace. Despite all the great strides that have been made, many workplaces are still quite hazardous. The following 10 workplace safety mistakes illustrate just how far many industries still have to go. They can also help spur ideas for where improvements can be made in your facility. 1. Using Ladders Improperly One of the most common and most dangerous workplace safety mistakes is failing to use a ladder properly. People make many ladder-related mistakes in the workplace, all of which can be devastating. The following are just a few of the more common examples: Unsteady Ladders - If you don't take the time to properly steady the ladder when setting it up, it could easily slide out while you're on it, causing serious injuries. Leaning from Ladders - When working on a ladder, you should never reach off to the left or right as that can throw the center of balance off, which could cause the ladder to fall. Using Objects as a Ladder - Using scaffolding, chairs, stools, or other objects to reach high areas can be dangerous. These things aren't meant for climbing the same way a ladder is. Climbing too High on Ladders - One should never step onto the upper rungs of a ladder. Depending on how the ladder is placed, even several rungs down can be unstable. 2. Lack of Visual Communication The noise in many workplaces can be quite deafening at times, which can make it difficult to communicate. When it comes to safety, communication is essential. This is why it is so important to have visual communication options in any loud workplace. Visual communication can come in many forms including

Confined Space Entry Permits - Safety Guidelines Hidden In The Cracks Dangerous, confined spaces are the stuff of horror films and cringe-worthy moments on screen, and there's a reason. Depictions of people trapped in a confined space not only play on a natural human tendency toward claustrophobia, but they also reflect a very real danger in the workplace. As such, OSHA has implemented a system of "confined space entry permits," hoping to help increase worker awareness and avoid common types of injury and death associated with working in a confined space. In this blog post, we'll cover everything from the definition of a confined space, to the details of a fully developed entry permit system. What Is A Confined Space? While the question may seem elementary, OSHA does adhere to strict definitions for confined spaces; this is important to know as a safety professional, as you'll need to be aware of which spaces require you to adhere to OSHA protocol and which don't. Basically, a confined space has to be a place that's large enough for a person to work and perform their job within, but is not intended for long term occupancy by workers. The third and final criteria is that the space has limited means of entry and exit. In short, the space is a place that someone can fit and work in for a limited time, but which impairs mobility and might be difficult to enter and, more importantly, exit quickly. What Is A Confined Space Entry Permit? Sometimes, confined spaces have additional potential risks and hazards that go above and beyond just their shape and size. In these cases, OSHA requires that permits are filed before a worker enters the space. Here are OSHA's additional criteria that indicate the necessity of a permit: The space contains or could contain a hazardous atmosphere The space is comprised of or contains a material that could engulf a worker who enters. The space has any kind of "internal configuration" that might present an additiona

Eliminating Awkward Postures For most companies, the work that employees perform on a daily basis can be quite physical. This type of physical labor can lead to a wide range of injuries. Of course, to improve on workplace safety it is important to do all you can to help reduce the amount and severity of these types of injuries. One easy place where you can start is with the different postures that employees take while performing their day to day activities. In many cases, they put themselves in awkward postures, which increase the risk of injuries to the back, neck and other parts of the body. Fortunately, there are typically alternative ways to do things or even tools that can do those tasks for them so they can avoid injury. According to OSHA: Working in awkward postures increases the exertion and muscle force an employee must apply to complete a task and compresses tendons, nerves and blood vessels. In general, the more extreme the postures the more force is needed to complete the task. Examples of awkward postures include performing overhead work, bending or twisting to lift an object, typing with bent wrists, and squatting. The important thing is helping to identify the awkward postures, and help find alternatives for the employees. The following five positions should be removed from the workplace as much as possible so that employees can complete their work with as little risk for injury as possible. 5 Awkward Postures that Should be Avoided 1. Working with Arms above the Head The first awkward posture that is commonly seen in workplaces is trying to complete tasks with your arms above the head. There are many examples of this, some of which could include holding up a board while it is secured in place, or even painting a ceiling. Any time you are working with your arms over your head, you are putting added strain on your back. In addition, your arms are going to fatigue much more quickly than they would in a more natural position. This can put you at r

Safety - An Issue worth Taking Seriously! Safety is of great importance no matter if it is for the work place or home. If we are talking about home, we might discuss how kids who are messing around the house and playing games could be exposing themselves to dangers, resulting in injury or in worst case scenario, even accidental death. However, there are many safety products available in the market specifically designed to prevent injury in and around the home. It is in this frame of mind that we will occasionally be introducing some safety products for home use, in order to help parents and their children avoid any accidents, where possible. two workers discussing safety planAs well, when it comes to workplace safety measures, ignorance or lack of proper safety measures, can also lead to considerable financial loss for a company, or even the greatest of losses - someone's life. It is therefore very important that an employer take great care in installing and using safety measures, which includes proper safety training, materials, supplies or products. While there is no denying of the fact that it can be difficult for an employer to fully provide adequate safety products and measures to prevent any mishap, it is a task that must be accomplished. The task of safety management may prove even more complex for a team leader who must engage in managing safety at a construction site or workplace, as seen in this set of videos from OSHA. For those of you who have not yet researched the market, there is a huge range of safety supplies available for you to choose from. It pays to shop and compare, but even then, just when you think that you found the right solution, someone else comes up with a product even better and more efficient. That is why we have created this blog and review site. We hope that with our help as safety product experts we can help you or your firm to select the proper, most helpful safety supplies. You can find solutions and insight by reading ou

The Adventure of Reducing Risks and Hazards in the Workplace Whenever starting a new job, it can be difficult to figure out exactly what you should be doing, and how it needs to be done. When I started working at a new facility as a safety manager, I began my first day with a meeting with the facility manager. The meeting was set up so he could tell me what was expected of me in my new role, and provide other details of the job. I was quite surprised when the meeting took less than two minutes, and the only objective I was given was to 'reduce risks and hazards in the workplace.' I asked for some clarification or guidance in what exactly he was looking for, but he simply said that I was hired to improve safety, and he was leaving the task of finding out how to do it in my hands. He gave me a sheet of paper with some information about what resources I had available, including my annual safety budget and told me to get to work right away. I should point out there that I had several years experience as a safety manager at a large company, which is why I was brought in to this new facility. The facility had recently been cited by OSHA for a variety of safety hazards, and there were even some fairly severe injuries that occurred in the previous months. The facility owners made it clear that safety was a priority for them, and they were willing to do whatever it took to pass inspections, and keep the employees safe. Planning My Safety Program While that initial meeting was unique, to say the least, I was also quite excited about the opportunity. It is quite rare that a safety manager is given such flexibility, and I wanted to make sure the manager wouldn't regret that decision. I got to work right away planning my safety improvement program. OSHA Safety Sign Guide I wanted to make some quick changes to help improve safety in the short term, and then also plan out ways to create a culture change within the facility so everyone would be more safety focused. I kne

An arc flash is a dangerous situation in which an electrical current leaves its intended path and leaps through the air from one conducting source to another, or even sometimes the ground. Many times the transfer of electrical energy resembles and arc, hence the term arc flash. However, it is important to never underestimate the power behind an arc flash. An arc flash can vaporize metals, plastics, and even flesh. Many times arc flashes cause irreversible damage and harm to people and surrounding objects. In fact, most people injured in arc flash situations often never return to the same quality of life due to severe injury stemming from heat and burns. The heat of an arc flash has been calculated to be near 35,000 degrees Fahrenheit which is four times as hot as the sun's surface! What Causes an Arc Flash? There are many possible contributors towards an arc flash, which makes it difficult to really fully stop one from occurring. Some common culprits that may add towards the probability of an arc flash include dust, condensation, corrosion, material failure, faulty construction, dropping a tool, or simply accidental touching. National Fire Protection Association (NFPA) Boundaries In an attempt to help protect employees and visitors from electrically charged equipment possible of creating arch flashes, certain safety boundaries have been put into place by the NFPA. The boundary resembles a target and in the middle is the energized equipment, and then there are four outer rings around the center with each ring labeled and specified for safety. The first ring, closest to the center (energized equipment) is called the prohibited approach boundary, then the next ring further out is called the restricted approach boundary, the next ring is called the limited approach boundary, and the furthest ring out from the center is called the flash protection boundary. Let's quickly describe each boundary. Prohibited Approach: Being within this boundary during an arc flash

Much has and needs to be said about an enterprise's AI strategy. Artificial Intelligence or AI is considered a fundamentally disruptive technology similar to the steam engine, electricity etc, a technology that will be pervasive and absolute in its impact on the world and its inhabitants. The ability to find hidden patterns to predict the future or detect a behavior has massive implications across the world, in every industry, sector, and domain. When faced with this realization, enterprise's can find themselves stuck, paralyzed and unsure about how to proceed. The field of AI is decades old already and the early success stories have been practicing AI for multiple years already with the tech industry leading the way. How can an enterprise that has no experience and competency in this area let alone lead the technology or even leverage it appropriately to drive business value? When developing the AI strategy, two ideas are paramount. First, this a fundamentally disruptive technology and the enterprise will need to establish it as a core competency for the foreseeable future. Not doing so will not be an option. Second, a long-term plan to success is superseded by the need to drive quick wins and small successes not only to build confidence but use real-world experience to develop and hone that skill. The Short-Term AI Strategy The short-term AI strategy should focus on driving immediate business value through enhanced customer experiences that leverage any field of AI be it machine learning, deep learning, natural language processing etc. Driving the usage and deployment of AI in front of an end user making them smarter, productive and better informed can pay rich dividends by not only helping the enterprise can real-world experience, but it can also give a perception boost to the company as being innovative and cutting edge. However, most importantly, this can highlight and promote the success and potential of AI in the enterprise and encourage a snowball eff

One of the top reasons for digital innovation and transformation failures can be summarized as the enterprise trying to reinvent the wheel. This is the tendency of the enterprise to attempt to create technology, platforms, and applications that have already been implemented, scaled, optimized and almost perfected. This tendency almost always ends up a failed one as it does not create any net new value for the enterprise but comes with a massive opportunity cost as the enterprise spends crucial resources on reinventing the wheel than innovating for the customer. How The Wheel Is Reinvented Nontechnology enterprises can get trapped in a reinvent state where they conclude that homegrown technology is the only path towards customer and business value. This in itself is not entirely false however the type of enterprise and their decision-making process along with the capabilities they have in house have a very large impact on the success of the strategy.eRaaadada Reinventing the wheel happens when a non-tech enterprise discovers a technology trend towards much later in the hype cycle almost towards the end when the technology is hitting the mass market and decides to recreate or reinvent its own version of the technology. This is often done with the assumption that with some investment, the enterprise can have a home grown version of technology or platform that is designed specifically for its needs and is thus a better fit. However, enterprises assume that the state of the technology will remain constant and while they are attempting to home grow a version that can match the current state of the art. In reality, the state of the art shifts and the enterprise is not able to bridge the gap. Who Reinvents The Wheel Typically, technology teams often decide to go down the path of reinvention when they are allowed to make technology upgrade or technology creation decisions without business KPIs and cost constraints i.e. clear success criteria with fixed cost and clear ti

A3 image via Reliableplant.com Today, I was looking for a decent A3 problem-solving template for an engineering friend who was planning on implementing a lean program for his company, and I came across a helpful article on ReliablePlant.com by Larry Rubrick and a cool A3 powerpoint presentation at PowerShow.com (don't hit download, just hit play). As many people may know, the A3 format originated around the type of paper (A3, 11″x17″ sheet) that the Toyota Production System engineers used to base their problem-solving templates - with the mindset that using only one piece of paper kept the thinking process focused and simple. The A3 is said to be one of the main building blocks of Lean thinking. On the report, a problem is identified and then it follows a process of successive stages (including objectives or goals) by which it may be solved, or at least lessened. I liked the examples Rubrick offers in his post, starting with the requisite Toyota A3, and moving on to others, including an A3 at Ford in the United States (which is meant for a typical copy paper size, 8.5 X11). Other A3s can end up getting more illustrative, but the gist of it is best represented in the simplicity of the TPS template, I think.