MANAGING in the

NEW WORLD

It is well known how Henry Ford pioneered the concept of the mass use, personal vehicle through his game- changing Model T. It would only be available in black colour, much to the bemusement and derision of his team personnel. The employees were in fact contemplating an end to the Ford company as per this decision, though that wouldn’t happen as the Model T proved to be an enormous success. As competition increased, the Model T too would add colours to its game. Flexibility has now been proven as an early solution to any business. Right now, the Inverted U shape works best as a model. It ensures standardization for the vast majority, thus reducing costs, and increasing the profitability. But it also keeps space for business innovations to thrive in the market. The car industry will have to work out several innovative solutions for the future. Flexible vehicle architectures will need to be brought in.

Source:https://knowledge.insead.edu/operations/a-potential-playbook-for-the-future-of-the-car-industry-11751

Uploaded Date:03 July 2019

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