A SWOT analysis was presented to show how Honda utilised its strengths to overcome threats and pounce on the small opportunities that knocked. It faced a challenge even in India as it started operations under its own brand name and stands as one of the leaders in its segment today. Interestingly, the Maslow’s hierarchy model was presented as one which helped identify basic needs like safety, ease of use and mileage as the driving factors behind the choices that consumers make in the Indian markets, thereby helping Honda develop a portfolio that could penetrate and establish itself in India. He also discussed the marketing strategy of Honda which was the provision of a product that is designed for everyone. Honda’s biggest selling two wheeler Activa which also happens to be the highest selling product in the segment was a prime example of the same.
Describing the evolution of manufacturing over the years-starting from mass production, lean manufacturing techniques, industrial automation and robotics to finally digital manufacturing, Mr. Sridhar identified new stream of study called Mechanical Digital Engineers which he, much to everyone’s agreement said would be needed to drive the future in smart manufacturing. He illustrated how advanced analytics and intelligent machines can be used for asset optimisation through examples of Aircrafts, robots and 3D printers.
The Internet of things and how digital manufacturing addresses the complete ecosystem by combining advanced connectivity and cloud computing were also discussed. He clarified the doubts and concerns that people had regarding the fourth industrial revolution vs. employment and was confident that this revolution would create more jobs, new opportunities and would be easy to understand.
Mr Sridhar made the lecture even more interesting and inspiring by sharing his experiences and learning’s with the audience. He motivated the batch to dream and look out for opportunities. “The real state of things depends on how we see it”, he said. One should review one’s goals frequently and be performance oriented. He also gave an insight into depth and width syndrome and how both are used at different stages of one’s career.
The presentation ended with several inquisitive questions from the audience and the lecture came to its conclusion. It taught each one of us by example on the importance of pursuing one's dreams and believing in them.
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