Most people would be familiar with the old saying “jack of all trades and master of none”, the inference being that knowing a little about a lot of things does not make a person an expert on any of them. Another common saying, at least here in Australia, is “I only know enough to be dangerous”, which is another way of offering assistance with a light-hearted warning that, again, it is not expert assistance.
When Only Quality Work Will Do
This might be acceptable when the job at hand is simple and not particularly critical, but in the resources industry, there is no room for anything other than quality work with an eye on safety and productivity at all times. This is where the Reay Services Group excels. We are specialists in what we do, and we understand our industry and its challenges.
Is Diversification a Good Idea?
Many companies seek to diversify away from their core business into other areas as a way of protecting themselves against a market collapse. The idea is that by having successful businesses in a range of different industries, when one sector struggles, another is thriving, thus keeping them all healthy enough to survive.
This can be a successful business strategy up to a point, but when such businesses expand beyond the expertise of the management teams running them, the wheels, as they say, can quickly fall off the wagon. The first casualty is usually the quality of the product, with overstretched supply chains unable to keep up with demand. Under pressure to meet production deadlines, they cut corners, which eventually leads to warranty claims and unhappy customers.
Protecting our Reputation
In our industry, word soon gets around when a supplier is not providing the level or quality of service that was promised. We are not prepared to sacrifice our hard-earned reputation for producing quality work and meeting client deadlines. This is what we would risk if we decided to diversify into unfamiliar industries.
Management More Effective with Sound Industry Knowledge
The work we do is difficult and sometimes dangerous, but as specialists in our field, we have the correct systems in place to manage risks while producing the results our clients require. Our recruiting practices attract the best operators, our maintenance teams keep the equipment in top condition and we are experienced at working in remote and unfriendly environments. This takes years of experience and could not be effectively managed from a city office by someone with no industry knowledge.
There is no doubt that the resources sector is going through a challenging period, but we prefer to use our specialist knowledge to support our industry, rather than move into something different.