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Risk Management: 10 Ways To Manage Risk At The Leadership Level

Accustoming to an ever-changing risk landscape has become a challenge for most businesses, a necessity made more apparent by the global pandemic and current geopolitical events. Simultaneously, business leaders are getting stressed about conforming agendas from several stakeholders impacting their organization. The emergence of these developments means that executives are required to take up a greater active and revolutionary role in forming their organizations’ approach to risk, being both offensive and defensive. Here are some areas that leaders must be aware of to help control the risks that emerge from running a business.

  • Business experiments
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10 Strategies To Best Use Data Analytics In Decision Making

Nowadays organizations gather and analyze huge inventories of data, so much that Big Data is turning into an essential asset. However, a lot of data is vulnerable to superfluity, duplication, and inaccuracy; ‘clean’ data remains in great demand. Furthermore, a lot less of this treasure of data is instantly deployable. Nevertheless, data analytics provide precious, comprehensible figures based on which productivity can be estimated. It may therefore be similarly beneficial to take into account that data analytics can enhance decision-making throughout the board. Here are 10 strategies that you can follow to make the most use of it. • Plan your objectives Get start Read more

Payroll Compliance: 10 Upcoming Labor Laws To Be Aware Of In 2022

Recently the government has brought up four new labor laws which entail 29 core labor codes regarding wages, social safety, occupational security, and commercial disputes. These new codes are in synchronization with the changing labor market developments and simultaneously have adopted the minimum wage needs and welfare requirements of the non-systematized sector employees, along with the self-employed and migrant people, within the structure of the legislation. About 90% of the states have already issued draft policies on these 4 labor laws that are expected to become operational soon. Here are all the details about the modifications that will be introduced by the new labor codes in this Read more

Business Consulting – An imperative need for companies facing challenges

Recent times have been challenging for the industry across sectors.  Re-invention has become the order of the day for enterprises set to achieve growth, revenue, and sustainability.  The recent market environment has coerced organizations to undertake major transformations in terms of digitization, process automation, and customer experience, in order to stay ahead of the competition. Identifying and cultivating talent and capabilities is a tough process in the rapidly changing environment today, more so if it has to be done via internal resources and support.    The timespan for such internal processes acts as a deterrent in the organizational trajectory Read more

You need a Business Consultant – Five reasons why

Gone are the days when entrepreneurs strived to do everything - finance management, marketing and sales, human resource management and the business. With too many things on their plate they realized they were always focusing on the urgent with no time to work on the important. Around three decades ago, the first Prime Minister of Singapore, Lee Kuan Yew's quote on outsourcing read: 'If you deprive yourself of outsourcing and your competitors do not, you are putting yourself out of business.' This applies to business consulting too as companies that do not seek expertise of the experts will lag behind those who leverage business consultants to expand and accele Read more

Business Consulting - Concerted efforts fetch favourable outcomes

Business consulting helps businesses evolve strategic plans, overcome perceived or real obstacles to business, restore and support growth and market share.  The world is going through a phase of emerging technologies that are changing the way we work as well as they way we live. Organizations are striving hard to balance between digital transformation and customer requirements. Many businesses have realized that they cannot do the needful all by themselves due to lack of expertise, shortage of skilled resources and time.  Business consulting helps companies gain agility acros Read more

How To Transform Business To Adapt To The Changing World

Businesses worldwide have been significantly disrupted by the coronavirus pandemic and related financial crisis, and consequently, it has an interest in a 'back to normal.' However, this venture doesn't need to be a 'back to business as usual.’ There is a chance for the corporate community to aid in leading economies towards a sustainable situation. Companies that are capable of investing this time to discover, examine, collaborate, and ultimately start to adjust to change will be ahead in the competition. This is as certain for small and medium-sized corporations in service and provider supply chains as it's for big industries. What it means is that its effect will be unique for each busi Read more

How Innovation Plays A Key Role In Services And Service Delivery

Innovation in services points to both product and method innovation in service agencies, sectors, and corporations. It might entail the development of the latest or advanced services, while Service Innovation particularly pertains to the advent of the latest services—though this may concern service-offering businesses in all sectors. The terms have these distinct meanings is because first, the term “service” can relate to the service product or to the corporations that focus on such products; and second, service products can be produced by companies that don't focus on services. Thus production companies may supply all types of consumer and after-sales offerings. An increasing numbe Read more

10 Ways To Build A Robust Employer Brand

Harvard Business Review stated that employer branding is turning out to be strategically more critical for CEOs, HRs, and marketing leaders. Moreover, several leaders now consider the accountability for the employer brand lies with the CEO or marketing instead of the HR. This transition in importance implies that the presence of a strong employer brand is becoming more essential for organizations trying to stabilize and retain major talent. So, how shall you take measures to improve your employer brand?

  • Access your company culture
A robust employer brand develops from the inside. Or simply put, if you want applicants to regard your organization as a Read more

10 Approaches For A More Sustainable Supply Chain

With growing stress from shareholders, investors, and the global network to put forward sustainability into all factors of the supply chain, there plausibly has never been a more critical time to dismiss old techniques and switch them for revolutionary strategies that put greater significance on the environment. But, a sustainable supply chain is more than just about a better environment. Sustainability is an integration of social, financial, and environmental elements in which one cannot be adjusted for the other. There are sufficient advantages to persuade any forward-thinking corporation to walk on the path toward sustainable supply chain management. But you may be thinking about where Read more

10 Ways To Future-Proof Your Workforce For A Sustainable Business

Nowadays, change is worldwide. It leaves an effect on anything and anyone. Its momentum is obtaining potency, driving us to move ahead at a rapid pace. However, a steady change brings the promise of steady growth. For businesses to stay productive and progressive, they require stellar skills, agility, and the appropriate technology. Here are some crucial developments which can assist commercial enterprise leaders in future-proof their workforce along with their enterprises.  

  • Increase mobility in your workforce
As per CITO Research, Read more

10 Steps To Structure A More Inclusive Workplace

Inclusive workplaces can be considered the future of sustainable business, and they can turn a place of work much advanced exponentially for everyone who sets foot in it. Let’s take a look at these 10 steps you can opt for to make your workplace greater inclusive for all people.  

  • Diversity vs inclusivity
Primarily, it is important to study the terms ‘diversity’ and ‘inclusivity’. Diversity refers to comprehending that everyone is unique and realizing the individual variations. Having workplace diversity in place means bringing together a variety of people that belong to diverse racial, ethnic, financial, and cultural backgrounds a Read more

How To Devise Your Career Path In The Times Of Uncertainties

Have you been wondering if your career has come to a standstill due to the current situation? As per various experts, advancing professionally throughout a pandemic may be tough but not impossible. Relying on our experience, we’re shortlisting 5 strategies that may guide you to leverage the strength of uncertainty to rediscover your professional strategy.

  • Consider your career paths as fluid
Constant growth isn’t the only approach to boost up your career. Consider other ways in terms of sidestep, backstep, and all-crucial slingshot. In case you feel your career isn't improving, consider shifting sideways to a role of equal rank and pay, in a comp Read more

How Is The New Normal Changing The Outlook Of Women At Work

A leading researcher in July 2020 determined that the job loss rates of women due to COVID-19 have been around 1.8 times greater than the job loss rates of men globally. Concurrently, a July 2021 ILO report predicted that by the end of the year, there would be 13 million fewer females at work worldwide, whilst male employment will improve to 2019 levels. Regardless of the WFH benefits, according to another report as much as 68.5% out of 3,200 females surveyed wanted to go back to the workplace, just like before the pandemic. Alternatively, as offices followed a hybrid work arra Read more

What Is The Future Of Fintech In India

Fintech, or financial technology, means the incorporation of technology into financial services intending to enhance their offerings and delivery to clients. It is a developing industrial sector that undertakes technology to optimize financial activities. This fast-advancing industrial sector provides for both consumers and corporations in several ways. Fintech offers an apparent range of facilities, starting from mobile banking and insurance to cryptocurrency and investment activities. In this pandemic, while every other sector has witnessed a plunge in development, the Fintech industry has flourished as COVID-related regulations halted physical activities and advocated contactless trans Read more

How Sustainability Will Help You Stay Up To Date In The Industry

Automation across the globe is achieving momentum. Innovative technologies such as Artificial Intelligence, Industrial Internet of Things (IIoT), and Cloud Monitoring are remodeling operations and equipment to establish the latest productivity standards. Organizations and corporations throughout industries are searching for methods to lower expenses, grow productivity to fulfill their sustainability agendas. But can this innovative automation drive the transition towards sustainability for industries? Although industries all around are accommodating with the modified environment after the Covid-19 pandemic, there are growing opportunities for business leaders to advance their way towards Read more

How AI And Humans Can Evolve A Business Together Faster

Nowadays, news of technical advancements facilitating superhuman performance by machines follow one after another. AI now propels numerous real-world applications, starting from facial recognition to translators and assistants like Siri and Alexa, that we have never seen before. Along with such customer-oriented applications, businesses across different sectors are progressively utilizing AI’s benefits in their operations. The adoption of AI guarantees significant gains for corporations and economies through its offerings to productivity surges and innovation. To extract the complete benefit of this human and AI collaboration, businesses need to recognize how humans can augment machines Read more

10 Ways Digital Learning Will Shape The Next Generation

The youngest generation Alpha is expected to account for about 2 billion of the worldwide population by 2025. This generation does not recall a time when they are not surrounded by unlimited connectivity, several computing interfaces, and digital interactions. In the context of education, the base is fixed for online learning to turn out mainstream. Considering further future, the conventional norms of educational qualification and academic achievement might not be relevant. Let’s take a look at how virtual learning will shape future generations.

  • Ever-lasting learning
For futu Read more

10 Strategies For Organisations To Optimize Hybrid Experience

Our world flipped from physical to virtual overnight, and astonishingly, most brands succeeded in delivering digital experiences. Several corporations have enjoyed the benefits of remote working and turned it into a permanent implementation and e-commerce is now the primary shopping method. Now that companies appear more proficient at digital delivery, the subsequent task is to deliver an advanced amalgamation of physical and virtual processes or hybrid experiences. In fact, as per a survey conducted by Deloitte among more than 1,000 worldwide executives, 75% stated they'll invest more in a hybrid work model over the following 12 months. To stay competitive, companies must implement hybrid w Read more

How Can Leaders Successfully Implement A Flexible Work Culture

The global COVID-19 pandemic is not responsible for the introduction of flexible work arrangements. Even before the pandemic, this working fashion has been making the shift from simply a trend to the new normal. The difficulty brought upon by the pandemic was that almost every place of business had to adapt to this fashion overnight. Businesses of every kind had to enforce them to enhance their working conditions, boost worker satisfaction and retention, improve recruiting flexibility, lessen operating expenses, and many more. But when a flex working system isn't implemented properly, companies confront diminished worker performance levels and a lesser probability of business success. Before Read more

10 Goals For Small Business In 2022

You might have failed to achieve many of your targeted goals for your business in 2021, a turbulent year that added a lot more of the same challenges brought in the year 2020. Nevertheless, there are ways to return to the right track and get ready for a prosperous 2022 ahead. Here are a few practical resolutions that should assist you to think about how you may provide your business operations with fresh new approaches.

  • Improve your virtual presence and prioritize the use of digital tools
The pandemic created an increased number of opportunities to depend greatly on virtual capabilities. As per a Small Business Roundtable’s report, during the y Read more

How Businesses Can Evaluate And Reduce Their Carbon Emissions

After numerous climate ruminations over a decade, firm action regarding net-zero emissions is in progress by governments, major multinationals, and top institutional investors. Corporate leaders must be prepared to revert with a strategic plan for emissions cutback, administrative reporting, and metrics that incorporate risk and economic impact. But how? And what are such metrics? Dealing with carbon emissions and finding solutions about cost and risk isn't an easy feat. The carbon effect, together with the carbon price and risk, extends throughout the whole business portfolio. Therefore, any strategy to cope with it needs to cover the whole portfolio as well. Firstly, compute your corpor Read more

Statutory Compliance - The Blueprint to Payroll Compliance in India

When there are no policies to stick to, employees are free to do anything and everything, which eventually rains down problems on business and the company as a whole. Without a set of rules and regulations, it becomes impossible for an organization to function smoothly.  The same is the case with payrolls. The organization has to guarantee that the employees receive fair treatment with wages. And this is where statutory compliance comes to the rescue.

Statutory Compliance in HR made easy

The central or the state government puts forward a legal structu Read more

Key Priorities For The Leaders In The New Normal

Amidst the pandemic, various organizations have extensively and often successfully embraced the new methods of working. They’ve also adapted digitization and restructured their supply chains. All of this has been inevitable, but it's not going to be enough. To get ready for the post-pandemic era, leaders are required to work more than just fine-tune their everyday tasks; they must get prepared and willing to reconsider how they function, or even why they exist. In other words, leaders need to take a step backward, contemplate, and take into account a broader perspective. Here are the key priorities that organizations must adopt as their Polaris while they follow the developments that are r Read more

10 Ways To Meet Customer Expectation In These Uncertain Times

The repercussion of COVID-19 has intensified the uncertainty in almost every sector of our economy. The battle is real, particularly for companies and their customers. During tough times like this organizations are pressurized to adapt in line with the new circumstances. But there's one aspect that can't be compromised, and that's customer experience. For every organization customer experience is the foremost factor which plays a crucial function in determining its success. As per a survey, 73% of consumers claimed that they become fond of a brand and stay faithful to it, simply because their customer service was remarkable. Also, 77% of clients are most likely to endorse a business brand to Read more

10 Ways To Develop Resilience In Your Business

According to the Mental Toughness model, mental toughness incorporates 2 things: Resilience, the capability to recover from mishaps and failures; and Confidence, the capability to identify and grab opportunities. It demonstrates resilience as the method of accommodating well while confronting adversity, trauma, disaster, threats, or any substantial source of stress including family and relationship issues, critical health issues, or workplace or economic stressors. It means recovering from such tough situations. Research shows resilience is ordinary, not something extraordinary and that people generally exhibit r Read more

Salary Benchmarking: A Win-Win Process For All Organizations

Companies are always keen on knowing whether their remuneration packages are in line with what is commonly called the 'market rate.’ It involves extracting information about the pay packages from their competitors, which isn't very openly available for obvious reasons.  Despite the complexity, the task needs to be completed. It defines the future for every company thriving in markets where varied salaries directly influence the retention and loss of highly valued employees.  The matter of concern here is, therefore, salary benchmarking. 

What Is Salary Read more

6 Signs Of Employee Burnout And How To Prevent It

The global pandemic has given rise to a growing challenge in workplaces worldwide: employee burnout. As per research by a top consulting firm, before the pandemic, 76% of employees mentioned experiencing burnout sometimes, while 28% of employees stated they have been burned out frequently or always at work. However, with the mishaps of last year, the figures are ever-rising. It must be noted that employee burnout is not simply about needing a break from work or being briefly exhausted by a tough job. Rather, it’s a condition of long-term workplace exhaustion that brings about tiredness, exasperation, and a defeatist Read more

How Can Organizations Navigate Through These Uncertain Times

With no manual present on how to respond to the increasingly evolving issues regarding the global coronavirus pandemic, most decision-makers are struggling to address the correct balance between judicious cautiousness and anxious reaction. With so many uncertainties, playing it extra-safe is undoubtedly a practical response. Yet playing it too safe has its own disadvantages. Steering through the uncertain future course with methods that reduce the ongoing disruption would require all who are in the higher management roles to maintain calm and reanalyze risk past its normal parameters. The American Psychological Association claims resilience< Read more

Embrace Sustainability To Drive Your Business

The fact is sustainability is turning more crucial for every industry out there. 62% of business leaders today believe that a sustainability strategy is essential to be competitive, and another 22% view it'll be in the future. As the expectations on company obligation are sky-rocketing, and as limpidity turns more widespread, businesses are discovering the emergence to act on sustainability. Before getting to the reason sustainability is crucial for the success of a business, it is essential to outline what sustainability in business is.

So what is meant by sustainability in Read more

Develop A Winning Strategy For The Digital World

Digital initiatives are reintroducing the policies of planning and embracing winning strategies almost instinctively. The huge revolution of the business world in recent years has been powered by ‘Digitalization’, primarily stimulated by “pure plays”, organizations that only have online projects and aren't laden by both the resources or the organizational inertia of most imperative, conventional businesses. Legacy corporations seeking to make similar performance upgrades need to begin by revisiting the conventional Read more

How Leaders Can Adapt In The Next Normal

While coping with the coronavirus crisis and its impact would be the imperative of our generation, the question arises, ‘How will the new normal look like?’ It is not possible to realize what is going to happen. However it's possible to take into account past lessons, both distant and latest, and following that, to contemplate effectively about the future. During the pandemic, organizations have extensively and often successfully accommodated new approaches of operation. They’ve additionally adopted digitization and rearranged their delivery chains. All of this is necessary, however, it's not going to be enough. To get ready for the post-COVID-19 era, leaders are required to do more Read more

How To Build Your Organization's Strategic Agility

Considering how fast-paced today’s world is, few matters hold greater importance to business success than a quick response to unexpected alterations in market conditions or client needs. Whether the disturbance is caused by the advent of new technology, a new contender whose appearance was expected, or drastic modifications in financial policy and trade agreements, the organizations that reach the pinnacle of magnificence are generally those that respond the fastest. You can call this strategic agility. What is strategic agility? The capability to constantly accommodate and adapt strategic course within the central management of the business, as a feature of strategi Read more

Why Culture Change Is A Priority Now For The Leaders

When it comes to the question ‘what unique thing can you do in today's date to assist your enterprise return to a new normal,’ where will you begin? With disruption a common reality now, modifying the company culture to be extra nimble, risk-tolerant, and experimental is the most important HR and business opportunity and the hurdle of the decade. Organizations that incorporate a quick prevailing culture and scaling will revolutionize at a pace that leaves their contenders and rivals behind.

Why does culture have to be a priority in this post-COVID world?

A study conducted recently at Boston Consulting Group determined that organizations that concentrated on cu Read more

The Future Of Work: What Skills Will You Require For The Future?

We all understand that virtual and AI technologies are modifying the sector of work together with the need to learn new abilities and discover ways to constantly adapt as new occupations emerge for today’s personnel. Also, we realize that the COVID-19 pandemic has multiplied this modification. Since this is the period of the transformative effect of the 4th Industrial Revolution, it is high time to get started with the planning for the future of work. Believe it or not, in five years from now, more than one-third of the abilities and skills you consider is crucial for today's generation of employees might be altere Read more

Double Your Consulting Sales

Isn't it tiring trying to constantly demonstrate your value to potential consulting clients? Wouldn’t it be a lot less complicated when you needn’t leap through hoops simply to prove that you could assist them? The greater the value your potential customers associate with you, the greater they will be ready to work with you, and the greater they may be inclined to put money on you. So promoting consulting services not only calls for understanding a way to promote and sell your business, but also a way to qualify customers for your specific services. Both will let you save time and result in higher outcomes, that is, to finalize the deal and winning new or repeat projects. So what can Read more

Embedding Risk Management In The Company Culture

Following the 2008 crisis, financial establishments have been spending billions of dollars on risk management. However, most of their amendments have been short-lived since they failed to change their fundamental company culture. According to Weber Shandwick’s latest research, only one in every five personnel globally strongly admits that their business enterprise creates a positive culture, paving way for a lucid opportunity for improvement.

What is risk culture?

Risk culture is the same for every commercial enterprise. It is a culture that is consta Read more

Make Payroll Your Global Company’s Strategic Resource

Payroll influences the worker experience and presents records vital for making strategic business decisions. At the same time, it’s complex, includes a high risk of error, and may have considerable repercussions whilst errors occur. For international corporations, these issues are way more challenging as they need to additionally factor in taxes and legal guidelines affecting personnel worldwide. Albeit global payroll has its complications, it’s more than just a process to be handled. It can be used as your global company’s strategic asset. A specialized payroll process can enhance the recruiting and retention of personnel, engagement, and generate more visibility. Global industr Read more

Are You Worried About The Legal Risks Of Your Company?

While assessing your business risk profile from time to time, are you being worried about the several legal risks that emerge out of your business operations? Legal risks are typically specific and identifiable, and after they take shape, they can turn out disastrous in a lot of ways.

Why manage legal risks?

Legal risks intimidate you with various undesirable consequences. It includes huge fines, lack of goodwill, terrible reputation to even closure of business, loss of licenses, or imprisonment for people who are accountable for non-compliance with numerous legal guidelines. Here are some of the most important reasons why you need robust legal risk management Read more

Top 9 Management Consulting Ideas In India In 2021

In the present day, the management consulting industry is valued at 132 billion USD. This huge, especially profitable industry keeps developing globally, with industry hotspots situated in the UK and the US. To begin with, a consultancy business is a type of business that doesn’t require a whole lot of finance. The complete knowledge regarding the field is sufficient to start the lead. What is Management Consultancy? Management consultancy services offer professional guidance in the field of interest of the client's organization. The fundamental goal of a consultancy firm is to assist businesses to obtain their desired goals through learning. According to a last y Read more

The Evolving Role Of A Business Consultant In 2021

Consulting is a massive industry. In 2018, companies worldwide invested greater than $155 billion with consulting corporations and specialists. 75% of organizations spend between 2% and 5% of their consulting assistance fees. And another 13% invest greater than 5% of their expenditure on consultants. A consultant is someone who is a specialist in a specific field and offers expert advice to people and organizations in their field of expertise. It is contracted generally on a temporary or agreement basis till a specific goal has been attained. Rely Read more

Business of Culture: Aligning People Ideals to the Company Culture

According to a current LinkedIn survey, it is discovered that people could instead put up with a decreased pay (65%) and let go of an elaborate title (26%) than cope with a terrible workplace environment. Applicants are in search of places of work wherein they could intertwine their ideals with those of the organization, and work collectively for a common motive, and achieve success. As authorities struggle with ways to recruit the best applicants and retain employees, they ought to reconsider how they’re shaping and constructing a culture that unites everyone around a com Read more

Managing Business in Uncertain Times

Uncertainty is very similar to weather conditions. A circumstance over which people and businesses have little or no control. The extremity of uncertainty, just like the severity of the weather, can be fluctuating up and down. At most times, across the world, CEOs are working under a sequence of intense uncertainty alerts. How to come up with a good business approach in highly uncertain business environments? Some executives are looking forward to forming the future with high-stake bets. The business press likes t Read more

3 Smart Ways Businesses Can Improve Employee Morale Following COVID-19

While work may very well never be "normal" again, businesses are starting to learn how to best adapt to the “new normal” in the wake of the coronavirus pandemic. While many people may be eager to return to the office, there are a number of things to keep in mind in order to keep everyone as safe as possible. However, when it comes to adapting Read more

How to thrive in the corporate world?

Importance of Growth Strategy to Thrive in the Corporate World

“Growth is never by mere chance; it is the result of forces working together”.

- James Cash Penney

To thrive in the market, a company must craft its growth strategy skillfully and chart the path with poise and focus. The growth strategy helps the management identify various possibilities and choose the avenues of growth that will elevate them to the next stage of the company’s evolution. It is a process that every company follows in order to grow their business stronger and bigger. The company has to increase its revenues and strengthen other financial Read more

DEPLOYMENT OF VALUE STREAM MAPPING PRINCIPLES IN A SERVICES INDUSTRY CAN PROVIDE LARGE IMPROVEMENTS

Deployment of Value stream mapping principles in a services industry can provide large improvements The most important aspect that a company needs to focus on in order to ensure profitability for itself is to control the cost of production.  The major contributors to the cost aspect of production tend to be Manpower cost, Material cost, Machinery cost and Facility cost. The aforementioned costs need to be optimised to ensure maximum profitability from the product. Productivity programs are commonly deployed for the production side of the product based companies and not much emphasis is paid to the service side that eventually becomes the face of the product in Read more

IMPORTANCE OF VISION, MISSION AND VALUES (VMV) FOR AN ORGANIZATION

VMV as it is called, sounds like a no brainer to the world of strategy. Simply formulated and nicely articulated few sentences make up to the most important column of our websites. While it is important to lay down boundaries and focus in what we want to achieve, how we want to achieve and why we want to achieve, it is more important to ensure that the thoughts should reflect and encompass the changes that happen at both the micro and macro level. Not many organizations understand the power of having and practicing the right VMV. The “many organization” here includes companies from various segment, industry and sizes precisely from a bootstrapper to a record breaker and hence VMV i Read more

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