Value addition is one of the ultimate way to improve individual’s financial life. If you are in the process of adding value in the life of other, then there are good chance that your financial life will also be very good. I shall share few real examples of value addition here to understand the whole logic of wealth creation-
In india and probably in whole world this brand same is very well known. The way Jio was launched in Sep, 2016, it was never seen before. Peoples were given free new SIM and even no charge for using these SIMs afterward for several month. The no. of subscribers connected from day one to till now is phenomenal & journey is ON.
Now assume that Jio is providing SIM after filling routine paper form with your complete detail, address, photo, signature as several location in that form. Also document verification for almost more than week time. Could it have been possible for Jio to connect these many numbers of users? Possible no. could have been achieved but the timeline might have been twice or trice or even more than comparing to existing timeline.
What they did differently was the Ultimate Value Addition, these team were issuing SIMs in few minutes (less than 10 minute time) & that to ready to use SIMs. They are using online Aadhaar Card and your finger scan for issuing the SIMs. You only need tell your Aadhaar Card number that’s all.
When Jio subscriber were zooming in numbers, I visited other service provide with one of my friend to get Mini SIM for his new mobile in place of his existing SIM. Surprisingly they asked to fill the form and other formality to even issue Mini SIM. Point here is not to criticise or to praise any particular company, but to understand the power of value addition at one particular location in value chain. Here that particular location was the SIM issuance system.
Along with this several other associated applications has been launched by Jio as JioTV, JioNews etc. The impact of these associated application (most of them are free) was such that hardly any subscriber return back to other service provider once opted for Jio. All these were the major reasons for Jio to come in profit in 8th quarter (Q3, 2018) instead of experts prediction of 5-7 years. Now you can feel the real impact of these value addition.
Henry Ford installs the first moving assembly line for the mass production of an entire automobile in 1913. His innovation reduced the time it took to build a car from more than three weeks’ time to 90 minute. Ford’s Model T, introduced in 1908, was simple, sturdy and relatively inexpensive–but not inexpensive enough for Ford. In order to lower the price of his cars, Ford figured, he would just have to find a way to build them more efficiently.
Ford had been trying to increase his factories’ productivity for years. The workers who built his Model N cars (the Model T’s predecessor) arranged the parts in a row on the floor, put the under-construction auto on skids and dragged it down the line as they worked. Later, the streamlining process grew more sophisticated. Ford broke the Model T’s assembly into 84 discrete steps, for example, and trained each of his workers to do just one.
The most significant piece of Ford’s efficiency crusade was the assembly line. Inspired by the continuous-flow production methods used by flour mills, breweries, canneries and industrial bakeries, along with the disassembly of animal carcasses in Chicago’s meat-packing plants, Ford installed moving lines for bits and pieces of the manufacturing process: For instance, workers built motors and transmissions on rope-and-pulley–powered conveyor belts.
Question the Routine!
All the breakthrough happens, once people question the routine and focus on productivity improvement and cycle time reduction. There are several such improvement you can find-out all-around. Even one of the biggest challenging problem of environment pollution due to vehicle is having impactful solution. Now a days, there is high level buzz about Electrical Vehicles (EV); be it two wheeler, three wheeler or four wheeler.
After few years Diesel and Petrol vehicles will be history. Almost all the automobile companies has either launched or in the process of launch their EVs. For EV, there was myth that speed is slow but that myth is busted after several launch of super cars from various company, one of them is Tesla. It’s Roadster model claimed 0 to 400 m (0 to 1⁄4 mile) time will be under 9 seconds, with a top speed above 400 km/h (250 mph).This company has completely change the automobile sector especially Cars.
Now for heavy vehicles, we generally think that diesel is the only option, but it’s also changing in fast pace. South Korean carmaker Hyundai in Oct, 2020 presented the first seven hydrogen-powered trucks to customers in Switzerland, out of 50 such vehicles scheduled this year to bring zero-emission commercial vehicles to European roads.
For long haul, proponents say hydrogen-powered trucks have an advantage over electric rivals as they have a greater range and require less charging times but their uptake and mass production has been slow because they are expensive.
Hyundai has announced plans to sell hydrogen fuel cell-powered trucks in the United States by 2022 & sells target of 500,000 units in 2030. Hyundai is following a two-track strategy of going for battery-electric technology for passenger cars, and utilising hydrogen fuel cell technology for large commercial vehicles.
The aim is to ramp up its annual hydrogen vehicle production from 11,000 units in 2020 to 40,000 units in 2022, 130,000 units in 2025, and 500,000 units in 2030.
In coming time there will be several highly valuable companies producing outstanding products. Sectors may be like affordable house (Quick make and Safe), Health tracking of individual, Online education in all in any of specialised field.
And it can also be living on other planets or having universe trip. There are several top notch companies (SpaceX, Blue Origin, Virgin Galactic etc.) working on this project, changing false belief will also be easy for people with the help of new technology.
So all I am saying that a lot of movement is going on all-around us for human growth, society growth, now we need to find out our spot in this value addition journey.
“Every success story is a tale of constant adaptation, revision and change.” –Richard Branson