Well, we don’t need to wait that long to answer that question, as a new automotive company named Faraday Future, just announced FFZERO 1, super electric car at CES 2016. Faraday Future located in California was operating in stealth mode for last 1.5 years and they revealed the FFZERO 1 including a full video of the car’s features. One of the coolest feature is, variable platform architecture, in other words modular basis of its design, which can be a complete game changer in the automotive industry.
Experts are saying this company is going to disrupt the automotive industry. One thing is for sure, once the car will be out in the market it will definitely give high competition to Tesla Motors.
Tesla was the No # 1 Electric Vehicle brand in the USA in 2015. The company introduced Model X and with newer version of Tesla S, total delivery of vehicles was 50,580 in 2015. Also, when it comes to technology and features in a car, Tesla was undoubtedly leading the EV market. Until, Faraday Future showed the FFZERO 1 concept car.
Best way to compare this two company is to compare their latest car models specification and features. So, I took the liberty to carry out some comparative research between Tesla S P85D Model and FFZERO 1 model and the result speaks for itself:
When it comes to horsepower, FFZERO 1 have massive 1000 horsepower with 4 quad core motors. Also when it comes to acceleration, both the model are neck to neck. Also, FFZERO1 claims to be 45 mph ( 72 km/h ) faster than Tesla S P85D. Within thrashing 200 mph ( 321 km/h ), it’s no doubt it’s more powerful than Tesla S P85D Model.
When it comes to battery, it’s yet to disclosed about FFZERO 1’s battery range. Till date, Tesla cars are unbeatable, considering range of the battery. It would be definitely a challenge for Faraday Future to match, even to overcome battery feature.
While designing this new super electric car, Faraday Future took the liberty to integrate some of the latest features that technology has to offer.
Here’s the key features of the FFZERO1:
We need to a bit longer to experience these features. For now, all we know that Faraday Future, collaborating with various companies such as LeTV in China to implement up-to-date features in the car. This company have promised to deliver the best quality EV. With 550 employees on board + renowned automotive industry experts, we can definitely expect a key competitor to Tesla. As Tesla is not present in CES 2016, we need to wait a bit more to see Elon Musk’s reaction on FFZERO1’s high ambition.
No matter who wins this competition, one thing is for sure customers are going to experience some innovative features that today’s technology has to offer.
“New Horizons space probe”, “Pluto flyby” are the current buzzword. Tuesday, 14th July, 2015, was that historic moment; where we have proved once again the capability of you and me, us the humans. New Horizons blasted off in January 19 2006, and was the fastest launch recorded, reaching speeds of over 36,000 miles per hour. The spacecraft passed the Moon after just nine hours, around eight times quicker than the Apollo program, and reached Jupiter the following year. After 9.5 years, and traveling more 5 billion kilometers it had reached the orbit of Pluto and even sent back mind boggling images of the youngest planet in our solar system, Pluto. The New Horizons project is a success. But, that success didn’t come over night. Just like any business projects we carry out in our professional lives, it was a project for NASA. In our business world, we do many projects every year. Some fails, some succeeds and some succeeds beyond expectation. After reading several articles, watching documentaries about New Horizons space probe projects, I personally thing, there’s 5 crucial factors which has lead this project to a successful project. We can surely learn from it and implement in our business projects to make them successful.
Factor # 1 : Team
Without the right team in place, any strategy and plan has the potential of completely falling apart. The New Horizons team comprised of 4 majors teams -Team Leaders, Science Team, Co-Investigators, and Team Leads with defined responsibilities and goal. It is important to assign the right people to each aspect of the project and make sure that they are working well together.
Factor # 2 : Planning
Proper and Detailed planning sets up a project for success from the start. It’s crucial that all the team members are involved in the planning process and always know in which direction the project is going to go. Planning can help the team to meet deadlines and stay organized. For example, New Horizons team planned way ahead in time to ensure that the probe was able to reach Pluto when it’s nearest to us. It’s crucial to remember that Pluto follows a highly elliptical orbit around the Sun. At the closest point of its orbit, called perihelion, Pluto gets to within 4.44 billion km from the Sun. The team planned way ahead in time to ensure that the New Horizons probe reached when Pluto is at the closest point of its orbit. Hence, the probe was able to reach Pluto in quickest time possible at a reliable and realistic time-scale.
Factor # 3 : Foreseeing Risk
During the planning phase, it’s crucial to produce probable list of risks with an action plan for the risks that the project could face. For example, the new Horizons probe is traveling at speed of 84,000 kilometers per hour. Even a small rice grain size space rock can damage the equipment’s on board. The new horizons team were able to take care of this ensuring that the radio antenna was always faced towards the path direction so that if any small objects will hit the large antenna and won’t damage the equipment’s behind it. This gave the team confidence and resulted in success in the project.
Factor # 4 : Improvising
Projects rarely go off exactly as planned. Even after identifying and going through probable risks, teams faces unforeseen risks. It doesn’t mean that that project should be stopped and restarted again. Stopping or restarting a project can be highly costly in terms of money and time. It important to improvise. It’s crucial to openly communicate within the team about it and trying to find a smart solution with least cost and time. Same happened with the New Horizons team. They launched the probe on January 19, 2006. They later realized that they had miscalculated the orbit of Pluto as they didn’t have a lot of information about the planet’s orbit. Later with improvement of technology and in combination with images captured by researchers, the team was able to find the accurate info about the orbit. Hence, they were able to send information to the probe in advance to save the project from total failure.
Factor # 5 : Project Continuation & Closure
If a project does not have strong closure or succession planning, then it has the potential to continue to consume resources. The project team must be firm and agree that all critical success factors have been met. Some cases, projects turn into actions or evolves into daily routines of the team members. It has to be clearly defined in the project scope, whether the project will end once it has achieved a certain goal or will it continue and evolve to be part of daily work. For example, the New Horizons space probe has received his goal of taking images of Pluto and sending them back. But, it will now continue to go further and explore the universe beyond Pluto till 2030. It’s a classic example of project continuation even after it has completed its main goal.
Augmented reality (AR) is a live direct or indirect view of a physical, real-world environment whose elements are augmented (or supplemented) by computer-generated sensory input such as sound, video, graphics or GPS data
Yesterday, 21st January, 2015, Microsoft took this definition to another level when they introduced Microsoft Hololens. So, what is Microsoft Hololens?
Imagine you are having Google Glass with additional features which enables you to interact with three-dimensional holograms blended with your real world. As Microsoft quoted, “it’s more than a simple heads-up display, and its transparency means you never lose sight of the world around you. High-definition holograms integrated with your real world will unlock all-new ways to create, communicate, work, and play”
Check out this official video released by Microsoft Yesterday…
Well, you are right, the term “Augmented Reality” is nothing new in automotive industry. OEMs are already testing and using it via using laser projected augmented reality. Especially the designers using it during development process in order to visualize actual proportions and sizes, geometry etc. But, this required the OEM to build an initial model to project on and it requires expensive projection system.
Let’s take a simple example of Door Locking Assembly System. In a door locking system, there’s a small space inside the door necessitates precise preparation and movement of locking system. It has a little lever to be engaged in the lock which makes it impossible to see the lock and the lever adequate enough from that position. Also, the poor space between inside the door which makes it difficult for the workers to work. In order to solve this problem, the workers require a good three dimensional understanding of the space. With the help of Microsoft Hololens, the worker will be able to see through the door (via holographic projection) will be able to fix assemble with ease.
Fastening With Ease
I am working at Nedschroef, where we are constantly innovating and introducing new fasteners and solutions to the OEMs. Let’s take an example, of one of the product called Nedsonic® also known as Ultrasonic Tightening Bolt. When it comes to bolt, one thing is most important: clamp load. To ensure bolts hold components together, they are tighten to generate clamp load. This tightening causes the bolts to elongate. By sending an ultrasonic wave into the bolt and recording the duration of the wave’s travel, the length of the bolt can be determined. By using Microsoft Hololens, the line feeding workers will be able to view in real-time, measure, evaluate and indicate the achieved clamp load, which will result in reliable and profound clamp load.
Well, that’s just a few of limitless possibilities that Microsoft Hololens can bring to automotive industry and to the other industries. It’s just the beginning and I am sure, there’s limitless opportunities which will unfold in time to come.
What do you think about this product? What else can it do revolutionize this industry? Feel free to share this article and comment.
MBA, is the buzz word. As the world economy is getting tougher, global-local companies are looking for employees with high educational qualification. Many of the mid-career professionals face the need to do an MBA for moving ahead in their career. Hence, here’s my five (5) checklist for choosing your MBA.
Checkpoint # 1: Complete your MBA within 1 year instead of 2 years
Getting back to studies after a long break is already quite difficult; moreover, if you plan to quit your job and pursue an MBA, try to find an university which offers an MBA, the program in 1 year instead of 2 years. That one year will be nothing less than a pressure cooker, but end of the day it will be worth it. End of the course, you will not only have your diploma in your pocket, moreover, you will save 1 year compare to other professionals.
Checkpoint # 2: Value for money
There’s one crucial reason why I am suggesting you to go for a one year program instead of 2 years, and that’s money. For example, a Full time MBA cost around € 28,500 for one year of Maastricht School of Management. Now, that’s just the study cost. You also need a place to live, eat and do social activities. Now let’s do a simple math comparison between 1 year and 2 years MBA program:
That’s just a rough estimate, but the main message is, you will be able to save € 7.000 – € 8.000 just by doing MBA in 1 year instead of 2 years. Even you can say Bye Bye to your student loans sooner.
Checkpoint # 3: World Class accredited
If you are investing your savings or even if your company is investing, make sure you get the best quality learning from your MBA. One of the ways to ensure that is to see whether the university you’re planning to pursue your MBA from is world class accredited. Why? If the university is accredited by a reputable organization, it ensures the quality of a business school. Accreditation organizations ensure the quality standards of a business school, faculties, teaching methods, student services etc. ACBSP, AMBA, IACBE, AACSB is one of the well-known accreditation authorities.
Checkpoint # 4: Learn more from people than from books
You are mid-career professionals, you know the basic of business or at least you know how things run in the business world. You know the basic ABCD of the business world, now you want to do MBA to take your career to the next level. You can’t do that alone learning from lectures and books. The best place to learn is from the people, the classmates, who have vast years of experience in different industries, in different countries. You will not only learn how to deal with people from different countries and different cultures, but also will gather a vast amount of knowledge how to do business in different countries.
From my personal experience, when I did my MBA from Maastricht School of Management, we have students from 30 countries out of 56 students. We called ourselves the UN. While solving cases, the practical ideas that used to pop-up were amazing, which a book will never teach you. So, have looked into the past alumni list of the university, check their experience level, country etc. Before jumping for an MBA.
Checkpoint # 5: Scholarship / Fellowship
Last but not least, look for the grants, scholarship for your country. Searching for a scholarship is time costly, but if you can find a good one, it will save a lot of your money. You might don’t even need a loan. Think about it.
Also, a lot of time universities have fellowships of their own. Be blunt and directly contact the Admission officer whether there’s such possibilities. Most of the time it’s competitive basis. If you have a good application, it’s a worth trying for.
From my personal experience, I had to compete for Maastricht School of Management Fellowship program, but at the end I got 50% fellowship. It’s not only prestigious, but saved a lot of cost. So, invest some time in searching a scholarship, you will definitely get the return on investment (ROI) for the time you will spend.
For a long time, I was thinking about writing an article on LinkedIn, specially focused on professionals who are in mid-level of their career or just finished their Masters and looking for a new career opportunity. There’s many blogs, articles written on how to make an ideal profile on LinkedIn. Most of the blogs touches the basic ground for sure, but I wanted to focus a bit more on how to increase your ranking in LinkedIn pragmatically.
So here’s my 7 simple ways to increase your ranking in LinkedIn…
Step # 1: Choose a professional picture
Let me get one thing straight in the beginning; “This is NOT Facebook”.
You can put your drinking, partying pictures, family pictures, selfies on Facebook, but not in LinkedIn. Recruiters appreciate a social employees, no doubt about that, but it will not help you land the dream job you are looking for. I have seen many users using their Passport photo as LinkedIn profile picture. Ask yourself this simple question…
“Are you applying for a visa via LinkedIn?”
So, please get a professional photo taken by a photographer. If you are a fresh graduate, can’t afford a photographer’s service charge. Just ask one of your friends, to take a picture of in outside in a park when it’s a sunny day or even you can take a picture in the university premises. Make sure your face is clearly visible and don’t forget to smile.
Step # 2: Start networking
Start connecting and networking with your colleagues, ex-colleagues, classmates. Spend a few minutes in sending a personalized invitation. LinkedIn provides standard templates, but it’s always appreciated / liked by recipients when you a little personal touch to it.
Also, don’t hesitate to add professional in your business fields or recruiters, but please add a line or two in the invitation, why you would like to connect to them. Don’t just send out add request, just for a sake of it, be professional.
Networking professionals will land you jobs and career opportunities before you know it.
Step # 3: Get your profile proofread by a professional
You may have a brilliant CV and excellent achievements, but you have grammatical mistakes in your profile, the likely hood of your getting called for an interview is lower. I work closely with HR colleagues in my current professions and I have seen CV’s getting rejected due to poor grammar skills. According Harvard Business Review, people who care about their writing demonstrate credibility, professionalism, and accuracy in their work.
Firstly, get your profile’s contents checked via free grammar checking software’s (for example: www.gingersoftware.com). Then ask your friend who is good in English
Step # 4: Don’t apply for just any jobs, because you are desperately looking for one.
A lot of fresh graduates and experienced professionals start applying for jobs out of desperation. Remember one thing, every time, every single hasty job application you send out, you are closing door to that company.
Read the job profile thoroughly, see the language requirements and skills. For example, usually in the Netherlands, if the employer is looking forward expats, they post the job in English. Don’t apply for a job where language requirement is Dutch or German or a language which you don’t know.
Most importantly, think through and adapt your CV accordingly based on the job you want to apply for.
While counselling many of professional networks and friend about how to make an ideal profile on LinkedIn, I encounter many saying “I don’t have any achievements in my professions”.
“You have worked 3-4 years and at a mid-level or managerial position, but don’t have any achievements??”
Think again? Achievements, not necessarily means that you have received a certificate for something. If you have an award or certificate, that’s great, put in on the LinkedIn profile under respective jobs or academic degrees.
On the other hand, if you don’t have any awards in paper, think once again. Maybe you have optimized or reduced cost to the company or achieved your KPI 100% or beyond. Or maybe you introduced or came up with an idea to make a project more efficient, which resulted in an increased sales.
It’s just a food for thought. End of the day, even the laziest man has achievement, you must be wondering how. As rightly quoted by Bill Gates, “I choose a lazy person to do a hard job. Because a lazy person will find an easy way to do it.”
Last but not the least, don’t forget to add your extra curriculum activities. It represents your personality. For example, you were the class president, it shows your leadership skills or you were part of football team, which showcases that you are tend to be a team player.
Step # 6: Ask for recommendation and endorsement
You can always ask your colleagues and classmates to write a few lines about you, your work as a recommendation in the LinkedIn. You don’t necessarily have to ask via email. You can always casually ask them to do it in their free times. Remember one thing, Recruiters doesn’t know you as a person or doesn’t know your excellent interpersonal skills. The best way to showcase that, via your network or people who knows in professionally and personally via LinkedIn recommendation feature
Step # 7: Add the projects
Add the name of the completed projects that you have worked. By including the name of the projects, you will not only showcase that you have experience in handling / managing / contributing projects, but also it will work as keywords; and will increase your ranking in LinkedIn.
What is LinkedIn: it’s the world’s largest professional network with 300 million members in over 200 countries and territories around the globe. If you are looking for a job or want to take your business to the next, this is the right place to be.
A few days ago, I was discussing with a few of my colleagues regarding team works over lunch. During our conversation, Roger van Lieshout and Ali Ekici asked me to write a post about knowledge sharing among the colleagues. So, I thought it’s time to put pen to the paper and write about it. I am glad my colleagues inspired me to write about such an interesting topic, because in the process of doing so, I myself learned a lot from doing small online research. Here’s my view towards, Knowledge sharing among the fellow colleagues:
To start with, let’s get back to the root. We all know what is knowledge, but when it relates to an organization, do we really what is it? Based on my online research, Knowledge is one of the most critical organizational resources which provide a sustainable competitive advantage in a competitive and dynamic economy (Sheng Wang, Raymond A. Noe, 2009). Innovation may be one of the key drivers in gaining competitive advantage; organizations must also consider how to transfer expertise and knowledge from experts who have it, to novices who need to know (Sheng Wang, Raymond A. Noe, 2009).
So, what’s the definition of knowledge sharing?
Based on definition by Jackson, Chuang, Harden, Jiang, & Joseph, 2006, Knowledge sharing is the fundamental means through which employees can contribute to knowledge application, innovation, and ultimately the competitive advantage of the organization.
Knowledge sharing refers to the provision of task information and know-how to help others and to collaborate with others to solve problems, develop new ideas, or implement policies or procedures (Cummings, 2004; Pulakos, Dorsey, & Borman, 2003). Knowledge sharing can occur via written correspondence or face-to-face communications through networking with other experts, or documenting, organizing and capturing knowledge for others (Cummings, 2004; Pulakos et al., 2003).
How does it help?
Research has shown that knowledge sharing benefits organization in following ways:
In reducing production costs
Faster completion of new product development
Enhances team performance
Induces ﬁrm’s innovation capabilities
Increases sales growth and revenue
How can we promote a knowledge sharing culture?
Personally, I believe it all starts from individual characteristic. Many of you who are reading this post now, have already experienced colleagues or fellow classmates who are reluctant to share their knowledge. But, it doesn’t mean, you have to follow the same path. I truly believe “Knowledge sharing as a learning experience for the sharer”. More, you share more you learn more. Not only that, it creates a bond of trust between the fellow colleagues. This makes life easier for everyone and working together enhances performance. Like, I discussed in my previous post, knowledge sharing promotes Co-creation and it’s one of the crucial points for being an innovative company. So, instead of waiting for your colleague to make the first step, why don’t you make the first step? Don’t just think about it. It’s time to do it.
Time has changed, communication should not only flow from top to bottom and bottom to top. There should be a transparent communication and knowledge sharing culture in the organization. Top management should not only give orders and make the decisions rather they should share their expertise and knowledge with the employees in order to derive desired performance from the employees. Research has shown that, Managers who have shared their knowledge with respective subordinates, their performance has been positively influenced (Sheng Wang, Raymond A. Noe, 2009). So, Top management should break out of the hard old shell and move towards more transparent management attitude.
Rewards and Incentives
Till date various researches have been carried out rewards and incentives influence on performance. I am not talking about individual performance or individual rewards. Many companies make the mistakes of introducing individual rewards and incentives for knowledge sharing and end up in losing more than gaining. Rather group based incentives works as a positive catalyst compared to those that individual incentives as it creates more interaction between the employees and results in creating strong and positive relationships.
Researches have shown that organizations with higher female: male ratios were more likely to engage in knowledge sharing (Sheng Wang, Raymond A. Noe, 2009). Not only gender diversity influences knowledge sharing, in fact multi-cultural organization tends to develop better knowledge sharing culture. With the right balance between individual culture (e.g. Europe) and group culture (e.g. Asia) tends result in sharing views from an absolutely different angle which is unknown to another culture and vice versa. This not only brings unique nature to an organization, rather works as a positive catalyst towards to innovation and performance.
Trust and Justice
Based on research, Individuals tended to share less knowledge with team members who were perceived to be very capable and share more knowledge when they believed other team members were honest, fair and followed principles (Sheng Wang, Raymond A. Noe, 2009). Hence, Managers, Top management should engage with employees in collaborative communication, i.e. disclose one’s own expertise and limitations. This increases the feeling of trust and justice within employees. Such organizational culture results in creating knowledge sharing culture.
Last but not the least, one of the most modern tools is Social Media. Modern and innovative companies engage with its own employees via social platforms such as LinkedIn, Xing, Facebook, twitters etc in order to share knowledge. Using social media, companies can adopt suitable for different behavioral styles, offering people the ability to passively observe (and take inspiration) or to be actively involved depending on what they prefer. Being actively involved in social media with employees creates strong transparent image to the outside world as well. Might sound funny, but many of you who are reading my post right now, came via social media references like Facebook, Linkedin, Xing etc., isn’t it?
Well, that’s my perspective towards knowledge sharing. What’s yours? Feel free to drop a line and SHARE your view.
We all talk about innovation; every company wants to be innovative. But, do we actually know how to? Time has changed, so did the definition of innovation. It’s crucial for any company to adopt the new ways to be innovative in order to survive in today’s competition. Here’s my view towards the ultimate guide for becoming an innovative company.
It’s one of the most used words lately. Well, you must be wondering, that is this “Co-creation”. Let’s start with a formal definition, “Co-creation is a form of marketing strategy or business strategy that emphasizes the generation and ongoing realization of mutual firm-customer value.” The words to focus on here is “mutual Firm-customer value”. In today’s world it’s crucial for companies to break out of the box and work together with the customer or suppliers to generate innovation and provide better solutions to problems.
A perfect example would be, Nedschroef, a leading manufacturer of fasteners working with its customers like VW, Audi, BMW etc to create innovative fastener solutions.
It’s 2013 and we are still experiencing the aftermath of global financial crisis. The Euro crisis is taking a high toll on countries like Netherlands, Germany, once known as one of the strongest economy in the world. Getting funding for starting a business is really difficult these days. Even when it comes to produce innovative products it requires good amount of investment before theory turns to reality. Especially for SME’s and individual entrepreneurs, crowd funding has become the ultimate source for turning a great idea into a reality. Yes, crowd funding is the collective effort of individuals who network and pool their money, usually via the Internet, to support efforts initiated by other people or organizations.
The Pebble Watch has been the most famous example of crowd funding. The original team scored more than $10 million with a target of less than $1 million via crowd funding platform named “Kickstarter”
Collective Knowledge “Coming together is a beginning, Keeping together is progress, and working together is success” that’s definitely one of my favorite quotes anymore. When it comes to innovation, people from different background, different part of the world, even from different work experience can contribute to provide innovative solutions to any problem. Thanks to the rapid growth of the internet, people from different part of the world can share their knowledge and create innovative solution and products.
Recently, Facebook friends helped a scientist to identify nearly 5,000 fish specimens collected in Guyana in less than 24 hrs, YES less than 24 hrs. The majority of people commenting held a Ph.D in ichthyology or a related field, and hailed from a great diversity of countries including the United States, Canada, France, Switzerland, Colombia, Peru, Venezuela, Guyana and Brazil. By quickly tapping the collective expertise of their social network to help with the preliminary identification process, the expedition members were able to sort, pack and export the specimens to Washington, D.C in a timely manner.
Collaborative Consumption Zipcar is a US membership-based carsharing company providing automobile reservations for its members, billable by the hour or day. Members can reserve Zipcars online or by phone at any time, immediately or up to a year in advance. Zipcar members have automated access to Zipcars using an access card which works with the car’s technology to unlock the door, where the keys are already located inside. Zipcar also offers an iPhone or Android application that allows members to honk the horn to locate a Zipcar and unlock the doors.
I was amazed by the overall idea behind such innovative car rental service when I first came to know about it in Marketing and Service Management Class during my MBA at Maastricht School of Management. And this is one of the best examples of innovation via collaborative consumption. In more formal terms, collaborative consumption is an economic model based on classical market behaviors of sharing, swapping, bartering, trading or renting access to products as opposed to ownership which both creates and adds value to existing products and services
Creativity California State University defined Creativity as the tendency to generate or recognize ideas, alternatives, or possibilities that may be useful in solving problems, communicating with others, and entertaining ourselves and others.
It’s no doubt creativity paves the way towards ultimate innovation. But, in order to be creative, you need to be able to view things in new ways or from a different perspective. Among other things, you need to be able to generate new possibilities or new alternatives. You can be from a totally different industry yet you can always add value and create innovative products to other industry just by able to see things in new ways. In fact, a research named “Innovation through diversity” by Forbes insight has proven that formula for success is in the diversity of people in the organization. People from different background when put together in a perfect environment produce creative and innovative solutions.