Business & Finance

Mohammad Anas Wahaj | 03 nov 2016

There is always a difference of opinion when it comes to whether entrepreneurship is an inherent trait or it can be taught and learned. Both sides seem to have reasonable examples to justify their perspective. For those who value the concept of entreprenuership in business or are contemplating to tread entrepreneurial path, here are some good reads - (1) 'Stay Hungry, Stay Foolish' by Rashmi Bansal (2) 'Creativity Inc.' by Ed Catmull (3) 'Zero to None' by Blake Masters and Peter Thiel (4) 'Business Start Up 101' by Chris Gattis (5) 'The Four Hour Work Week' by Timothy Ferriss (6) 'How To Win Friends And Influence People' by Dale Carnegie (7) 'The Life and Business Lessons of Warren Buffett' by George Ilian (8) 'The Fountain Head' by Ayn Rand (9) 'Think and Grow Rich' by Napoleon Hill. Read on...

Entrepreneur: 9 Must Read Books on Entrepreneurship
Author: Saumya Kaushik

Mohammad Anas Wahaj | 30 oct 2016

According to Mapp Digital's whitepaper, 'Consumer Views of Email Marketing', more than 98% of consumers, aged 18-64, check emails at least one to three times a day. The survey for whitepaper included a national panel of 1765 consumers between the ages of 18-64, 70% had a household income of over US$ 35000 and participants were evenly distributed by gender and geographic region. The findings point out the importance of age in receptiveness of email marketing. Nearly 2/3rd (64%) of respondents aged 55-64 said that they will delete email, as opposed to 38% of 18-24 year-olds. 91% aged 18-24, and 83% aged 25-34 said that they use smartphones to view emails. It suggests that for effective email marketing, optimize for smartphones. Mike Biwer, CEO of Mapp Digital, says, 'Email marketing is still very relevant to brands, specifically for the hard-to-reach 18-34 year-old audience. The survey results suggest that this group of consumers are engaging with fewer brands on a more intimate level. Millennials and Gen Y are strong audiences for email marketers, but now more than ever, the email marketing experience needs to cater to what they want and how they want it.' Read on...

Enterprise Innovation: Email marketing still vital for targeting young US consumers
Author: NA

Mohammad Anas Wahaj | 14 oct 2016

To avoid customer attrition in the digital age requires multiple service-centric online strategies. Cynthia Johnson, Managing Partner & Director of Marketing for RankLab, provides some of them - (1) Use Your Customers' Information to Benefit Their Experience: Ensure effective customer data collection using browser cookies, account login data in CRM and marketing automation tools; Personalization; Targeted product recommendations, send event triggered messages and auto-fill forms. (2) Make it Easy for People to Reach You: Display contact information prominently; Use multi-channel chat solutions. (3) Have a Mobile-Friendly Website Design: Mobile digital media time with 51%, exceeds desktop and other devices combined; Use responsive web design; (4) Pay Attention to Reviews and Rants on Social Media: Ensure monitoring of social chatter about your business; Use tools that can provide you with alerts when there are comments, reviews and inquiries on social media. (5) Above All Else, Listen and Respond. Read on...

Search Engine Journal: How to Avoid Digital Customer Service Fails
Author: Cynthia Johnson

Mohammad Anas Wahaj | 06 oct 2016

According to the IMF's October 2016 'World Economic Outlook' report, global economic growth will remain subdued this year (3.1%), as US slowdown and Brexit happened. Moreover, persistent stagnation in advanced economies could further give rise to anti-trade sentiments and populist call for restrictions on trade and immigration. Maurice Obstfeld, IMF chief economist, says, 'Such restrictions would hamper productivity, growth and innovation. t is vitally important to defend the prospects for increasing trade integration. Turning back the clock on trade can only deepen and prolong the world economy’s current doldrums.' IMF suggests - For near term growth, central banks in advanced economies should maintain easy monetary policies; Governments should spend more on education, technology, and infrastructure to expand productive capacity while taking steps to alleviate inequality; Many countries also need to counteract waning potential growth through structural reforms to boost labor force participation, better match skills to jobs, and reduce barriers to market entry. IMF found emerging markets and developing economies as the only bright spots, where growth will accelerate for the first time in 6 years to 4.2%. They are expected to grow 4.6% next year. Although, prospects differ sharply across countries and regions. Growth in emerging Asia, and especially India, continues to be resilient. India's GDP is projected to expand 7.6% this year and next, the fastest pace among the world's major economies. Sub-Saharan Africa's largest economies continue to struggle with lower commodity revenues, weighing on growth in the region. While, economic activity slowed in Latin America, as several countries are mired in recession, with recovery expected to take hold in 2017. Middle East remains in challenging conditions due to subdued oil prices, civil conflicts and terrorism. Commenting on the policy challenge, Mr. Obsfeld concludes, 'By using monetary, fiscal, and structural policies in concert - within countries, consistent over time, and across countries - the whole can be greater than the sum of its parts.' Read on...

IMF News: IMF Sees Subdued Global Growth, Warns Economic Stagnation Could Fuel Protectionist Calls
Author: NA

Mohammad Anas Wahaj | 30 sep 2016

According to the first experts' poll conducted by Thomson Reuters Foundation (poll2016.trust.org), in partnership with Deutsche Bank, the Global Social Entrepreneurship Network (GSEN) and UnLtd, the top nations for social entrepreneurs are - (1) United States (2) Canada (3) United Kingdom (4) Singapore (5) Israel (6) Chile (7) South Korea (8) Hong Kong (9) Malaysia (10) France. The poll included survey of about 900 social enterprise experts (social entrepreneurs, academics, investors, policy-makers and support networks) in the world's 45 biggest economies. 85% of the experts said the number of social entrepreneurs finding ways of combining business with social purpose was growing although there is little data tracking the sector. According to Natalia Oberti Noguera, founder of Pipeline Angels (US), 'If someone's interested in financial return on investment, that's not a good fit. We're about so much more. We're about doing good, we're about doing well.' Nearly 60% of the experts surveyed cited three major challenges in the growing sector - people do not know what social entrepreneurs do, which makes raising funds difficult and selling to governments is an uphill struggle. Anne Katrine Heje Larsen, founder and CEO of KPH (Denmark), says, 'There are still too many people who view social entrepreneurs as a bunch of hash-fuming utopian people in knitted sweaters. They couldn't be more wrong.' According to Ayşe Sabuncu, co-founder of Impact Hub Istanbulin (Turkey), 'People do not understand social entrepreneurs create money making businesses like any other business, and they question the philosophy of it if the entrepreneur ends up making profit.' Andy Carnahan, a Swedish social entrepreneur, says, 'A greater understanding of how for-profit businesses can be a driving force for social good would help. We need this (awareness)...among the public who don't realize how much good can be done by a for-profit business that has a social good built into its business model.' Poll found that India, Philippines and South Korea are among those where social entrepreneurs were finding it easiest to access investment. According to Prashanth Venkataramana of Essmart Global, 'A lot of people see India as an opportunity overseas, especially in America.' Bank of America's 2016 survey found that 85% of millennials were interested in having a social impact through investment. It also found that women were more interested in impact investing than men. Peetachai 'Neil' Dejkraisak of Siam Organic (Thailand) says, 'World-class social enterprises are run by women in Asia. They do a really good job balancing the social and financial objectives.' Rosemary Addis, chair of Impact Investing Australia, says, 'Individual enterprises are finding a niche and finding they can engage the market and sell their products or services. But as a sector, the concept of social enterprise and purpose-driven business has not yet got mainstream awareness. That's a job ahead to educate the public.' Read on...

Huffington Post: U.S. Is Best Country For Social Entrepreneurs - Poll
Authors: Pietro Lombardi, Ellen Wulfhorst, Pauline Askin, Nita Bhalla, Alisa Tang, Belinda Goldsmith

Mohammad Anas Wahaj | 27 sep 2016

Patient focused care delivery driven by technological advancements is bringing transformations in healthcare ecosystem. Experts in a panel discussion 'Future of Health Care: Technology Innovations' shared their views on high level technology that has been in use in Pittsburgh (USA) as biotechnology, informatics and medicine are used to create a more responsive system for both consumers and health providers. Dr. Rasu Shrestha, Chief Innovation Officer and EVP of UPMC Enterprises, said, '...we'll go with a 'best of breed' approach, solutions that work best toward specific ends and, while doing so, invest in interoperability, or making those systems talk to each other. This was 10 years ago. No one else was doing this; this was before 'interoperability' became the buzzword that it is today in the industry.' According to Prof. Don Taylor, Assistant Vice Chancellor of University of Pittsburgh, 'The future of health care coordination rests, in part, with analytics, the ability to make data useful in the same way companies like Amazon and Netflix are able to suggest what movies to watch or what products to buy.' Ellen Beckjord of UPMC Health Plan, while describing the current state of digital health information, used the analogy of the cookbook that contains unorganized list of all ingredients that are disaggregated from recipes. She said, 'Just because it's integrated and all in one place doesn't mean it's actionable.' Kim Jacobs, VP of consumer innovation for UPMC Health Plan, said, 'Close to 60% of UPMC's telemedicine encounters led to emergency room avoidance.' According to Prof. Steven Handler of University of Pittsburgh's School of Medicine, 'Telemedicine increases access to qualified professionals and reduces variability of care. It hits the sweet spot of medical devices, informatics and clinical medicine.' Read on...

Pittsburgh Business Times: Analytics key to future of health care coordination, panel says
Author: Lydia Nuzum

Mohammad Anas Wahaj | 19 sep 2016

Comedian John Oliver in one of the recent episode of 'Last Week Tonight' on HBO described journalism industry's 'dire straits' and analyzed the depressing financial state of journalism in 2016 and the subsequent tendency for news outlets to focus on stories that get the most traffic. Moreover, he emphasised the importance of traditional reporting via newspapers that often get quoted by TV news channels. He says, 'It's pretty obvious without newspapers around to cite, TV news would just be Wolf Blitzer endlessly batting a ball of yarn around. The media is a food chain which would fall apart without local newspapers.' On the current financial situation of journalism, falling print advertising revenue and digital journalism, he says, 'A big part of the blame for this industry's dire straits is on us and our unwillingness to pay for the work journalists produce. We've just grown accustomed to getting our news for free and the longer that we get something for free, the less willing we are to pay for it...If journalists are constantly required to write, edit, shoot videos and tweet, mistakes are going to get made. It is clearly smart for newspapers to expand online. But the danger in doing that is the temptation to gravitate towards getting the most clicks.' Read on...

the guardian: John Oliver examines journalism's many problems: The blame is on us
Author: Adam Gabbatt

Mohammad Anas Wahaj | 09 sep 2016

Journalism industry faces numerous challenges and is going through a difficult phase, as comedian John Oliver recently expained in his show on HBO. But there is also a ray of hope as the demand for good content is high and there is need of editorial skills. Journalism aspirants, who aspire to be Bob Woodward or Carl Bernstein, may not feel happy about it though. Kayvan Salmanpour, chief content officer at digital marketing agency iCrossing, says, '99% of brands struggle with content because they publish without an editorial mindset. So I think (editorial is) hugely important - now more than ever.' He explains what brands can learn from media companies when it comes to content and suggests the following - (1) Hire an editor in chief who can have ultimate control of the content produced and can assure it's quality. Content represents the brand. (2) Create an editorial mission statement before anything else. There is need for clarity of objectives and everyone in the organization should be aligned to it. (3) Put the audience first as compared to brand/product first. Create content that is audience focused. Find the intersection between what the audience wants to read and what the brand stands for. (4) Don't try to be everything to everyone. Good content fits seamlessly between the brand and its target audience. It may even require conducting psychographic studies of the target audience and thinking about their habits in excruciating detail. Read on...

The Drum: Journalists, take heart - Content marketing needs you
Author: Lisa Lacy

Mohammad Anas Wahaj | 07 sep 2016

Students have to be taught about entrepreneurship and innovation early in their educational stage to better prepare them to adapt to the technology-enabled disruptive future of the world of work. Experts predict that technology is transforming work so rapidly that 40% of the jobs of today will disappear within 10-15 years. According to The Committee for Economic Development of Australia (CEDA), advances in computer technology and automation would result in around five million job losses. Prof. Stephen Martin, Chief Executive of CEDA, says, 'If we do not embrace massive economic reform and focus on incentivising innovation, we will simply be left behind in an increasingly competitive global marketplace.' Jo Burston, serial entrepreneur and founder of small business platform 'Inspiring Rare Birds', has created an education venture 'Phronesis Academy' with Prof. Richard Seymour of Sydney Business School. According to Ms. Burston, 'Phronesis in Greek means practical wisdom - it's all about learning in action. There is actually no right or wrong and there is no pass or fail because we know that in entrepreneurship those things don't actually exist...We need to have young people thinking as entrepreneurs as they go into businesses because businesses are wanting to innovate. So the people who can innovate and create new revenue lines are the ones who are going to be highly regarded in their positions and I think there's an entrepreneurial mindset around being able to do that.' Jayant Prakash, business teacher at Darwin High School, says, 'It's very important to know entrepreneurial skills because every day we get up in the morning and we are dealing in the world of business, we want our young people to be innovative in nature and this subject gives them the chance to develop ideas.' Read on...

Huffington Post: Why High School Is The Best Place To Nurture Our Entrepreneurs
Author: Cathy Anderson

Mohammad Anas Wahaj | 31 aug 2016

Technology-driven transformations are clearly visible in human resources management. HR experts from Forbes Human Resources Council share their views regarding five areas where technology is impacting to make human resource practices more effective and efficient - (1) Digital Interviews Save Time And Money: Rohit Paul of Academy For Urban School Leadership, says, 'Digital interviewing allowed candidates to use whichever technology they preferred - phone, tablet or laptop - to record their responses and provided screeners with an opportunity to review on their own time. It saved my team hundreds if not thousands of hours.' (2) Everyone Can Connect Through Social Media: Ben Martinez of HireVue, says, 'Social media opened doors for human resources professionals years ago, allowing us to be more open and to connect with people in a different way...we use live-streaming apps like Periscope or Facebook Live for big meetings or Snapchat to share stories of our workdays.' (3) Paper Records Are Now Digital: Sarah O'Neill of Digital Trends, says, 'Technology has allowed everything from new hire paperwork to cases of discrimination to be easily trackable by including date/time stamps and reminders to help keep never-sleeping HR departments on track.' (4) More Focus Can Be Placed On Relationship Building: Angela Nguyen of Ad Exchange Group, says, 'With technology greatly helping to streamline (basic HR tasks)...professionals can now spend more time on what humans do better than machines. They can keep their ears to the ground, analyze what motivates employees, ensure that values from leadership align with the culture of the company, and refine ways to develop stronger and happier teams.' (5) Geographical Boundaries Are Eliminated: Sabrina McGrail of Techstars, says, 'It's now entirely possible to have a global team and talent pool...alignment to our values is stronger than it's ever been. That wouldn't be possible without tools like Slack and advanced video conferencing.' Read on...

Forbes: Five Ways Technology Is Impacting HR For The Better
Author: NA

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