In our current global economy consumer products are dropping in price due to the maturity of organization’s that are schooled in the ability to leverage the best and cheapest resources around the world every point in the manufacturing process. In recent years we have seen remarkably low priced items seen with the launch of Tata’s Nano car retailed at $1900 and now Adidas’ recent announcement of launching a $1 running shoe aimed at India’s growing population.
Up until the early 20th century the world viewed the automobile as a luxury item built for the elite of society. Cars were complicated in their use and required a significant investment that the average person could not afford. Then in 1908, Henry Ford introduced the Model T Ford that did not only revolutionize the world’s perspective on personal transportation for the masses but also re-invented the manufacturing process still applied over 100 years later. Although we have seen improvements to his original process, with the development of lean manufacturing, JIT, Six Sigma, Kanban, and others, the core philosophy of Read More
Time and time again we see dominant technologies come and go. History has seen the automobile replace the horse and buggy as the vehicle of choice, the DVD replace the video cassette, and the PC replace the typewriter. Although the shift in new technologies is unavoidable, there is a choice in the path of the companies that produce these products. Some organizations have the foresight and vision to remain leaders in innovation, while others remain stuck in a “tunnel vision” mentality and continue on a path where the inability to change results in their demise. An excellent example can be Read More
The other day I read an article on how Charlie Sheen set a new Guinness World record by reaching 1 million followers in the shortest amount of time. With the power of technology, Sheen opened a Twitter account and hit the “1 million” milestone in 25 hours and 17 minutes. My first thought was – it is amazing the incredible appetite people have to be connected to latest news covering their topic(s) of interest. Although the Sheen example is an extreme scenario, it does provide insight into the cyclical nature of humanity and the dynamic between people’s wants and needs Read More
In 1975 Gary Dahl was sitting at a bar listening to his friends complaining about their pets. This mundane incident led Gary to inventing the Pet Rock that would make him an instant millionaire in a span of 6 months. At face value, it would seem Gary had a stroke of luck with coming up with the right idea at the right time. But the reality was, Gary Dahl did more than just come up with a clever concept. As an Ad Exec by profession, Gary understood that there was much more to his project’s success than just executing on Read More
