|NEIL GLENTWORTH, DIRECTOR, GLENTWORTH CONSULTING|
Beware of unsustainable success
Growth isn’t always great, says Neil Glentworth of Brisbane based information management firm, Glentworth.
In Queensland, our mining sector is used as a light on the hill for the rest of the economy because of record levels of growth.
So far, the $1.126 billion invested in resource exploration last financial year represents a 23 per cent leap from the previous year. One may even go so far to say it’s dragging the rest of the state kicking and screaming into a new mining boom.
This is always good on the surface, with the mining companies pulling in further investment and boosting business confidence.
It gives flow on benefits, especially for professional service firms who rely on the burgeoning industry as their bread and butter.
It’s also a monumental shift for the labour force, pushing the centre of gravity and pulling people from all sectors into a promising career in resources.
Growth, without the right management and planning approaches can be unsustainable and result in loss of investment, staff and ultimately reputation.
The car analogy is a useful reminder that the resources sector needs to visualise when they see their forward growth forecasts.
This means corporate strategy, human resources, finance and communications are having difficulty keeping pace with the rest of the organisation down-stream.
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