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Turnbull effect on construction industry

Written by Sophia Rostron | Sep 14, 2015 2:00:00 PM

The sudden and extraordinary ballot last night saw Malcolm Turnbull become Australia's fifth prime minster in five years after toppling Tony Abbott in a leadership coup by 54 votes to 44. Turnbull has vowed 'a different style of leadership' to tackle the nation's economic problems, but how does this translate to the challenges in developing Australia crucial national building infrastructure?

"We need to have in this country and we will have now, an economic vision, a leadership that explains the great challenges and opportunities that we face," Turnbull said.

Mr Turnbull, who lost the Opposition leadership to Mr Abbott in 2009 by one vote, mounted the challenge on Monday on the basis that Mr Abbott was incapable "of providing the economic leadership we need" or "the economic confidence that business needs".

“We cannot be defensive, we cannot future-proof ourselves. We have to recognise that the disruption that we see, driven by technology, that volatility and change is our friend if we are agile and smart enough to take advantage of it.”

"The big economic changes that we're living through here and around the world offer enormous challenges and enormous opportunities," he said.

"We need a style of leadership that explains those challenges and opportunities, explains the challenges and how to seize the opportunities." 

How to face disruptions in the industry

The only way is head on. Embracing digital platforms and innovative technology will create cascading efficiency. Companies that adopt new tools keep their customers around - customers no longer tolerate a counterpart who is not enabled with the most up-to-date tools fearing that their offerings are not future-focused. 

In our industry, change is afoot; construction companies, civil plant operators and technology companies are starting to analyse the industry as a whole and find ways to improve productivity. 

While not historically embraced, disruptive forces are starting to offer real opportunities to improve efficiency. There's a reason why industry disrupters find business - because they work.

Take PlantMiner for example, our time and money saving platform for procuring hire quotes leads to a large number of confirmed hire jobs for our plant hire suppliers. The more requests for equipment we receive, the more hire work PlantMiner hire suppliers are winning. It's quite simple really. Whether it's procuring an excavator for your next project, or getting your excavator out of the yard and on site, aggregators like PlantMiner have made it possible for people to do business throughout the world in real time.

How your business should take advantage of it

The past financial year has certainly rocked some foundations, as we continue to see a shift in growth from mining investments, to non-mining sectors of the economy. So how do you survive in a volatile market that's no longer a safe haven for guaranteed work? 

"The past year has seen the most brutal turn down that i've experienced through my time in the industry. Technology is the key to maintaining a competitive advantage into the future. For businesses to outperform their competitors over many years and through many cycles, they must find new and smarter ways to do things" - Chris Salisbury, Managing Director, Rio Tinto

Empower your business today with these tips to optimise your business and marketing strategies: 

If you're a plant & equipment supplier or subcontractor, it's time to ask yourself - how effective are my current business development efforts? How can I find new and smarter ways to do business? 

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