India is going through changes at a clock speed that is 10 times faster than what the country has seen any time earlier. And, this change has happened across sectors, across industries, across the daily lives of the people.
For example, till 10 years back, families used to own only 1 car, today many of them own two or three; there was a large mass of people in Delhi who had never heard of the metro system, today the metro has become their daily mode of transport; on the business side, the customer earlier demanded delivery once in two days, now they sometimes demand delivery 10 times a day. These are examples that are reflective of the changes India has gone through.
Translated into business terms, it implies that businesses must learn to survive under intense global competition. This requires leaders to focus on not only production but the manufacturing environment i.e. take into account R&D, Product Design, Supply Chain, Customer’s Latent Requirements, Technology Change, Global Change, Regulatory Changes etc. This is the BIG M (Manufacturing) concept.
Until recently a large number of Indian manufacturing companies focused only on production – the small m concept. Focus on the BIG M concept would enable companies enlarge their scope for value addition and develop a systemic thinking capability dovetailed with a strategic mindset.
The VLFM programme enables participants to understand this BIG M concept and to see the future invisible needs of their customers. This would help them to develop products to meet the needs of the bottom of the pyramid, to come up with products to satisfy needs of customers which even they did not realize they had thus leading to customer delight