The X-Ecutive Vol. XVI

["ETHOS The X-Ecutive, Vol. XVI 90 AWARENESS NONE 80 VoVol.asXVIXVIThe X- 70 H&M GAP 60 \uf0b7 FactorsEcauftfievcet,iVngoVpoul.racshXaVsIeXdVeIcision: Price 50 40 and Quality remain on the top priority again 30 with maximum 1st and 2nd preference 20 responses. Discount got highest 3rd 10 preference proving that only discounts don\u2019t 0 matter, it\u2019s always the price and quantity ZARA that lure the individual into buying first. Illustration 12 With accessibly in terms of location getting the greatest number of 4rd preference responses. Packing getting 5th preference followed by discount again at number 6th. This was a checkbox question where respondents could choose multiple options. AMOUNT SPENT PER SHOPPING EXPERIENCE \uf0b7 Awareness with respect to these three Less than 500 brands: A great deal of resemblance could 5% be seen with respect to Zara and H&M. As 5001 and above both the brands function on the same model 23% of fast fashion, they have a very minor in terms of awareness or recall. With Zara at 501-2500 87, H&M at 85, followed by GAP at 76. 39% This was a checkbox question where respondents could choose multiple options. So, we can say the kind of impact Zara and H&M have created on the minds of people are quite similar if not same. 2501-5000 PREFERENCES 33% 70 Illustration 11 Illustration 12 \uf0b7 Amount spent per Shopping Experience: It was seen that the amount of money spent 60 by college student per shopping experience, i.e. every time they indulged in shopping 50 was as follows: 5% spent less than 500, where 39% and 33% was spent 501-2500 40 and 2501-5000 respectively. Whereas 23% spent over 5001 and above. 30 Comparative Study on ZARA, H&M, GAP 20 A comparative study was done on the following three brands, respondents were asked two 10 specific questions with respect to these three and the finding of the same have been provided: 0 H&M GAP NONE 1. Zara ZARA 2. H&M 3. GAP Illustration 13 \uf0b7 Preference with respect to these three brands: Similarly, we could see that those that preferred ZARA to a great extent preferred H&M as well, considering both cater to a similar audience. A small number of people preferred GAP, and we could see that a lot of them didn\u2019t prefer anything.","ETHOS The X-Ecutive, Vol. XVI Scope of Further Research VoVol.asXVIXVIThe X- \uf0b7 Provided a bigger sample size and a more varied sample, a better and clearer picture Conclusion Ecutive, VoVol.asXVIXVI of the preferences of the people regarding According to the research, citizens have the mouth fresheners can be found. following perception regarding Imported Branded \uf0b7 Research can be done on a more macro Apparel: level, involving a greater age group as these multinational clothing retails brands cater to \uf0b7 Only 88% of the sample population all groups. is aware of imported branded apparels, \uf0b7 Comparison with domestic retail brand. while 12% remains unaware. References: \uf0b7 Zara turns out to be the brand with the top of the mind recall. 1. Cheng Lu-Wang, Noyel Y.M. Siu, Alice S.Y. Siu (2004) in their study, \u2018consumer \uf0b7 Word of mouth and social media are the most popular methods of creating decision making styles on domestic and awareness for these brands. imported clothing\u2019 \uf0b7 85% people would recommend this brand to other, while 4% would'nt and 11% would https:\/\/www.emeraldinsight.com\/doi\/abs\/10 remain ambiguous. .1108\/03090560410511212 \uf0b7 Out of the respondents that said NO(12 respondents), when they were asked as to 2. Badrinarayanan Maran, , Kumar (2017) in why they were not aware 8 said they their study, \u2018branded apparels customers were indifferent, 3 had lack of access to advertisement avenues and 1 said other purchase behavior with reference to India reasons. https:\/\/www.researchgate.net\/publication\/323 \uf0b7 It was observed that price and quality are the most important factors with respect to 143317_A_Study_on_Branded_Apparels_Cu purchase decision, and discount is only considered after considering the above stomers_Purchase_Behavior_with_Reference mentioned two. _to_India \uf0b7 Zara and H&M have a high resemblance in 3. Monga (2012) in his study \u2018Consumer terms of their awareness or recall, which mean there impact has been quite similar on Preference towards Branded Apparels in the minds of college students in Kolkata Ludhiana\u2019. \uf0b7 Similarly, Zara and H&M have a very close http:\/\/krishikosh.egranth.ac.in\/bitstream\/1\/58 preference pattern, the customer that preferred H&M most preferred Zara, but all 10019937\/1\/manmeet%20singh%20L-2010- that preferred Zara did not prefer H&M. BS-16-MBA.pdf Limitation of the Study \uf0b7 This survey could have been done further 4. https:\/\/www.quora.com\/What-is-the- precisely with a larger sample size. \uf0b7 Time constraint was an issue because of difference-between-a-clothing-line-and-a- which a more varied and greater number of primary data could not be acquired. clothing-brand# \uf0b7 The study is restricted to the city of Kolkata only. 5. https:\/\/en.wikipedia.org\/wiki\/Retail \uf0b7 The study is also limited to the English literates as the questionnaire was designed 6. http:\/\/fashion2apparel.blogspot.com\/2017\/01\/ in English. top-apparel-brands-world.html 7. https:\/\/www.tandfonline.com\/doi\/abs\/10.1080 \/09593969.2017.139704","ETHOS The X-Ecutive, Vol. XVI VoVol.asXVIXVIThe X- PROBING INTO THEEcutive, VoVol.asXVIXVI HEALTHCARE MARKET AND HEALTH FINANCING IN GLOBAL Dr. Tridib Sengupta CONTEXT: RECENT TRENDS AND Assistant Professor UPCOMING PARADIGMS (Management), Department of ABSTRACT Commerce, St. Xavier\u2019s College Healthcare Market is a comparatively new concept of analysis. Health is not an (Autonomous), ordinary commodity and therefore was long considered not to be suitable for Kolkata classical economic analysis. In the 1970s, however, the crisis of the welfare state became apparent, and economical, structural, and social forces started to Jumelia Sengupta scrutinize those segments of welfare provision where rising costs were faced with B.M.S., stagnating revenues. The healthcare sector was no exception to this, in particular 2nd Year as this time period was labelled by some as a \u2018medical arms race.\u2019 Patients were St. Xavier\u2019s College fully covered by (public) insurance, which paid on a fee-for-service basis, and (Autonomous), medical providers were motivated to supply more and increasingly costly medical Kolkata services. Although the empirical evidence of a substantial causal increase of healthcare costs remains scarce, it goes unsaid that the overall spending for healthcare continued (and still continues) to rise. Moreover, it became obvious that the increase in the volume of treatment did not fully correspond with an increase in overall health, casting doubt on the efficiency of the healthcare system's performance. Hence, the concept of healthcare markets was developed to apply the principles of competition to healthcare in order to increase efficiency by containing costs while improving quality. A major goal was to incentivize providers to define treatment in terms of overall health improvements rather than in terms of single medical services. This approach started to challenge the professional dominance of physicians who lost some control over the definition of appropriate medical treatments, and it strengthened the role of the payer, who was not identical with the patient, in the healthcare sector. Introduction Utility assessment such as cost- Citizens' participation, patients' rights effective analysis is likely to be and consumers' rights play an supplemented by approaches about important role in medical practice as rationing and priority-setting. well as in the health care market. Standardized strategies to assess Traditional economic theories of health outcomes from a rights-based individual preferences do not perspective are likely to be developed. adequately describe the demand in Demand for health services is health care markets, which is also determined by the decisions of influenced by providers and public individuals who spend health care health interventions. money according to their preferences.","ETHOS The X-Ecutive, Vol. XVI Country Percent dissatisfied VoVol.asXVIXVIThe X- Italy 59.4% Country Ecutive, VoVPole.arscXeVnItXdVIissatisfied Luxembourg 8.9% Netherlands 17.4% Austria 4.7% 59.3% Portugal 28.6% Belgium 8.3% Spain 14.2% Denmark 5.7% Sweden 40.9% Finland 6.0% France 14.6% United Kingdom Germany 10.9% Greece 53.9% Ireland 29.1% Illustration-1 shows the level of dissatisfaction (very or fairly dissatisfied) of citizens in several countries with their health care system Illustration-2: Healthcare Market Size 2009-2017 \\\"Regulatory\\\" activities such as immunization, mass media campaigns, environmental sanitation However, demand in the health care or provision of clinicians' or patients' guidelines sector is embedded in a complex system may have a marked influence on the delivery of of financing, solidarity and specific services. Health rights may also be a accountability Although demand for factor in rationing and priority-setting. health services reacts flexibly to the It is, therefore, important to realize that the resources available, there are demand in the health care market is influenced differences from traditional markets: a not only by individual preferences but also by surgical procedure is very different providers with a privileged level of information and from a holiday trip, and patients may specific interests and by population-wide public want to avoid this experience if possible. health measures. Accountability for health care Provider-induced demand may play an delivery depends not only with economic market important role in increasing the request theories but also on health care legislation, for health care services, while the professional conduct, public health, ethics and availability of preventive services may politics. Knowledge of theoretical frameworks of lower the demand for specific services. ethics and rights as well as strategies for their implementation is of great importance for health economists as they may serve to regulate or influence the market. Statement of The problem and objective of the study With global health care spending expected to rise at a CAGR of 5 percent in 2019-23, it will likely present many opportunities for the sector. While there will be uncertainties, stakeholders can navigate them by factoring in historic and current drivers of change when strategizing for 2020 and beyond. Among these drivers are a growing and aging population, rising prevalence of chronic","ETHOS The X-Ecutive, Vol. XVI \\\"Accountability\\\" defines who has to report to VoVol.asXVIXVIThe X- whom and who is able to reward or punish diseases, Ecuitnivfera, sVtoruVcotlu.arseXVIXVI investments, technological advancements, evolving care actions. In health care systems there are various models, higher labour costs amidst workforce shortages, and the expansion of health care forms of accountability - clinical accountability, systems in developing markets. Health care systems need to work towards a future in which ethical accountability, professional the collective focus shifts away from treatment, to prevention and early intervention. But, are accountability, legal accountability, economic stakeholders ready to respond to these trends and brace the smart health care delivery of the future? accountability and political accountability. The current study seeks to examine the factors impacting the global healthcare sector and Clinical accountability is the accountability for outlines suggestions that stakeholders can consider in order to redefine providing the highest possible standard of care. the healthcare ecosystem, as they lay a solid foundation for the future. Clinical quality assurance may be discussed as to Theoretical analysis based on secondary structure, process or outcomes criteria. Citizens sources Citizens' participation or patients may be involved through participation Citizens' participation in the health care system is often discussed under the major headings in deciding on budget allocation to health care freedom of choice, patients' rights, the autonomy of the patient and political influence. Freedom of infrastructure, staff levels, training or quality choice and the autonomy of the patient are fundamental principles of health care ethics assurance programmes. Moreover, they may Citizens in health care systems when labelled as: i) \\\"Patient\\\" - a special situation of the sick demand information on complication rates, case individual who is ill, have functional impairment or disability and increased vulnerability. mix or the volume of certain procedures in a Impairment ranges from a limited mobility due to pain and anxiety or have functional deficits to a given institution. complete loss of consciousness. The patient- doctor relationship here is characterized by the Ethical accountability is the accountability for special need of the sick individual to be protected and is described as a relationship of trust. the patients' autonomy and integrity. Ethical ii) \\\"Consumer\\\", \\\"customer\\\", \\\"user\\\" or \\\"client\\\" reflect an economic relation and the sick boards supervising biomedical research or individual is acting as a rational agent. He or she therefore needs full information and a transparent supporting difficult choices help to secure the market. The doctor-patient relationship is understood as a business relationship. citizens' interest. At the systems level, legal iii) \\\"Citizen\\\", \\\"voter\\\", \\\"taxpayer\\\" or \\\"insured\\\" reflect a rights-based approach and make mechanisms may have to protect these interests, reference to democratic values and basic rights. The doctor-patient relationship is here for instance forbidding \\\"gag clauses\\\" characterized by a contractual model. Citizens' participation in the health care system (information restriction) in managed care systems can be discussed in reference to different levels of accountability. or providing legal redress in the case of infringement of rights. Professional accountability requires the setting of minimum standards for professional accreditation in health care. This accountability often lies with professional organizations and accreditation councils. The undertaking to observe codes of conduct is frequently part of the accreditation. These codes of conduct may also incorporate citizens' views. Legal accountability relates to the legal regulation of health care financing and provision and may take place at national, regional or community level according to the constitutional provisions. Democratic procedures should assure citizens' representation. Economic accountability relates to the efficient allocation of limited resources. There is considerable variation in practical resource allocation, as demonstrated by the variety of health care systems internationally and nationally. This variation reflects different priorities and political frameworks. Boards of overseers or councils deciding on resource","ETHOS The X-Ecutive, Vol. XVI Generally, there is a distinction between VoVol.asXVIXVIThe X- \\\"negative\\\" rights, which assure freedom from infringements of certain essential liberties, such allocation areEecnuttrivyep, VooinVtosl.faosrXVthIXeVpIarticipation of as freedom from inhumane or degrading citizens. treatment, and \\\"positive\\\" rights, which specify Political accountability relates health care entitlements like the right to decent living decisions to the government and to society in a conditions. Negative rights have been much less broader sense. In democratic states this means controversial in the past than positive rights, the accountability to the citizens. It limits the fulfilment of which may require changes in the influence of payers or providers on agenda- social systems of states.This approach reflects a setting in health care. Citizens' participation in comprehensive understanding of health as political issues may be more or less explicit, expressed by, for instance, the Ottawa Charter on according to the political system in place.The Health Promotion The political, social and relative weighting of the various forms of psychological mechanisms underlying the accountability differs between countries. Tax- relationship of health and human rights deserve financed health care systems, as in the Sweden or attention. Political influences causing disparities the United Kingdom, emphasize the political in health status relate to the availability, accountability of health care decisions and also accessibility, acceptability and quality of health the professional accountability (e.g. delegating care, external environmental or workplace responsibilities to professional organizations). factors, issues of governance, the globalization Market-oriented health care systems, as in the processes, legislation or the provision of United States, put more emphasis on economic information, among other things. The effect of and legal accountability, as the health care social inequality on health is well established, as market is regulated by a legal framework. is the association with social class, race or Bismarck-type health care systems, as in Austria ethnicity, gender, family and social networks, or or Germany, prioritize professional and economic work.. accountability in the framework of self- It is claimed that the patient is not only made governance. vulnerable by illness, but also by the institutional Patients' rights have become a high priority in processes of care and cure and the traditional role health politics. The need for the development of of the sick which legitimizes some privation of patients' rights emanates from a new role that autonomy. The American Hospital Association informed patients want to play, stemming from issued a patients' bill of rights in 1972 in scientific, ethical and moral concern, and the recognition of this special situation, and a human rights movement in health care, including national bill of patients' rights has been proposed experience with mismanaged care. Patients' rights for the United States In 1996 the WHO Regional as health rights can be linked to human rights Office for Europe issued a Declaration on the legislation. Promotion of Patients' Rights in Europe as a The \\\"right to health\\\" is often not explicitly common European framework for action specified in identifiable and legally binding following the Amsterdam Consultation on obligations. Health and human rights as Patients' Rights This document contains specific interlinked concepts, however, is a promising sections concerning human rights and values in new avenue of practical and scientific progress in health care, information, consent, confidentiality public health. The articles of international human and privacy, care and treatment and their rights documents follow four human rights application. Patients' rights and citizens' views principles: equity, dignity, participation and were endorsed by the Ljubljana Charter on justice. These fundamental aspects of human Reforming Health Care of 1996 rights legislation can be found in patients' rights Ethical frameworks documents under more specific formulations, e.g. Distributive justice and the autonomy of patients respectful treatment, confidentiality and privacy, are fundamental principles of health care ethics, equitable access to information and facilities, and next to beneficence (do good) and non- provision of mechanisms for legal redress (ombudspersons, patients advocacies, litigation, etc.).","ETHOS The X-Ecutive, Vol. XVI Beneficence relates to the efficacy and VoVol.asXVIXVIThe X- effectiveness of health care, non-malfeasance to risks and adverse events of medical diagnosis or malfeasance E(cduotiven, oVtoVohla.arsmX)V.IXVInI equality and cure. It is clear that, generally, the risks and inequity are concepts that are related to benefits of medical interventions have to be distributive justice. Inequality relates to counterbalanced. differences in health states, e.g. between groups It is important to be aware of the broader or individuals defined by socioeconomic status, conceptual framework within which health care sex, ethnicity or place of residence. Although systems operate. Frequently a utilitarian high quality health care systems will diminish economic framework is used in the evaluation of such differences in health states, e.g. by health care systems. This aims at the comprehensive coverage and provision of maximization of the aggregated health state, or services directed to the disadvantaged, it is clear health gain, for a population in respect to that health inequalities will persist to a certain resources spent. To this end it is bound to extent under any circumstances. Inequity relates conflate a multidimensional health state into a to issues of fairness such as the access to health single number - a \\\"utility\\\" - for comparative services, their financing and their practical evaluations such as cost-utility or cost-benefit provision. Inequalities in health outcomes, such analyses. Considerable work has been done as life expectancy, quality of life and satisfaction supplementing traditional life tables and may, therefore, be influenced by inequities in the mortality statistics with morbidity-oriented utility health care system. Measurement of health measures such as quality-adjusted life years outcomes and their comparative analysis for (QALY) or the disability-adjusted life years vulnerable subgroups may contribute to assuring (DALY) used for the \\\"global burden of disease\\\" greater levels of equity of health care and study. These utilities value not only the quantity equality of health states. It is important to note of life years, but also their quality. Their values that distributive justice and efficient allocation of are summed up across a population or population resources may sometimes be at odds. subgroup (e.g. a defined group of patients), and It is claimed that the institutional processes of high losses of single individuals may be balanced care and cure and the traditional role of the sick by a net benefit for the group as a whole. legitimize some privation of autonomy. Consequent applications of the utilitarian Patients' autonomy comprises the meanings of framework, e.g. the creation of league tables of free action, effective deliberation, authenticity preferred health care interventions (State of and moral reflection. Free action focuses on Oregon in the US) or the comparative evaluation health rights such as the right to decide on of health systems performance (6) have met treatment options and effective deliberation on considerable resistance and criticism. While the rationality of the decision-making process in utilitarianism favors the effective delivery of view of information levels and cognitive ability. services with benefit for everybody's quality of Authenticity requires the consistency of a choice life, egalitarian ethics in contrast focus on the with personal preferences and life plans, while worst-off in society and their rights and would moral reflection makes reference to consistency regard a disproportionate allocation of resources with beliefs and values. The information given to to these individuals as fair. In practice this could the patient on his or her health state and options mean that under one health care ethic the for treatment, the right for him or her to adequate allocation of resources, e.g. to dental care, is access to health care facilities, self-determination preferred, as this has some benefit for a large and free choice of health care provider, as well as number of people, while under another ethical issues regarding consent to treatment, framework organ transplantation or dialysis are participation in studies and participation in funded in order to save the lives of the worst-off teaching of health care professionals are all at high costs. related to choice. They are part of most charters of patients' rights and hence are important procedural and structural aspects in the evaluation of health care systems and their outcomes.","ETHOS The X-Ecutive, Vol. XVI VoVol.asXVIXVIThe X- \u2022Access to adequate care observation of the patient's autonomy Health rightsEcinuthiveea, lVtohVcoal.raesXaVsIsXeVsIsment \u2022Informed consent The first problem area relates to the priority \u2022Free choice justice and the ability to seek legal redress problem. It may be questioned whether The second step is analysis of general states of health or specific health care outcomes for fundamental aspects of health care, such as vulnerable population subgroups or individuals to control unacceptable inequalities. These dignity or non-discrimination, can be traded subgroups may be defined by, for example,socioeconomic status, sex and age, place against less fundamental dimensions such as of residence or ethnicity. satisfaction or even be disregarded completely. Countries reforming in this way This may lead to the straightforward rejection of utility-based approaches of outcome assessment. \\\"Efficient\\\" systems can produce unequal access to health care and health inequalities, resulting in a discussion of the trade-off between equity and Trend Objectives Introduce or increase \uf0b7 Raise more revenues Many countries in Sub-Saharan user fees in tax based systems \uf0b7 Encourage more efficient use Africa of resources \uf0b7 Create greater accountability \uf0b7 to the consumer Introduce \uf0b7 Reduce financial barriers Large scale initiatives in Thailand community- based created by user fees and Indonesia; health insurance in \uf0b7 Encourage more efficient use systems currently of resources numerous small scale efforts in \uf0b7 Raise more revenues many other countries e.g. Zambia, based on user fees and tax revenues Tanzania, Uganda, India Shift from tax based \uf0b7 Create independent, Thailand, many countries in the to social health sustainable source of health Former Soviet Union and Eastern insurance type finance Europe; \uf0b7 Raise more revenues systems proposed but not implemented elsewhere, e.g. Nigeria, Zimbabwe and Ghana Consolidate multiple \uf0b7 Increase equity and prevent Mexico, Colombia and other state insurance funds tiering and fragmentation countries in Latin America. \uf0b7 Increase administrative efficiency Illustration 3 The third step of assessment is utility-based outcome measures across populations (such as efficiency. Such social and economic inequalities the DALY-based measurement of the burden of are accepted only so far as they are to everyone's disease) and advanced comparative economic advantage. Independent of these issues, the evaluations (cost-effectiveness analyses, cost- assessment of health outcomes in a rights-based utility analyses or cost-benefit analyses) to assure context will result in a three-step procedure. allocative efficiency. In short, the traditional The first step is the analysis of the fulfilment of economic evaluation of health care may be basic health rights (priority of basic liberties). preceded in the future by a rights-oriented Such basic rights are typically: evaluation. \u2022Respect for the dignity of the person Instruments for the standardized assessment of \u2022Information on the patient's state of health and the fulfilment of health rights or patients' rights options for treatment","ETHOS The X-Ecutive, Vol. XVI minority very poor in developing pro-poor VoVol.asXVIXVIThe X- policies in countries where this is the case. For example, a user fee system which succeeds in are rare. QuaElictuattiivvee, VasosVeosls.maseXnVtIXcVaIn be based on improving quality of care, may benefit the participant observation, expert interviews or majority poor who can afford to pay the newly focus groups. Quantitative assessment may entail introduced fees. But for the minority very poor, the questionnaire-based assessment of the fees may only create another barrier to access or fulfilment of the entitlements of patients' rights represent an additional burden at times of health documents in populations or patient groups. crisis. Health rights have been discussed under their For both the poor and the very poor, the most fundamental principles of dignity, non- important cost burden that results from illness discrimination, participation and justice, i.e. the comes from the loss of labour associated with possibility to seek legal redress. Instruments that severe illnesses and injuries. Although some are designed to measure health rights should financing mechanisms may mitigate the costs of capture all four aspects in typical health care care associated with such health problems, they settings. Patients' rights are more specialized and do not address the consequences of ill health have been detailed above. Instruments should whether through loss of income or loss of cover these aspects, but little work has been done services provided by unpaid family members. on their empirical assessment so far. Subgroup Pro-poor health care financing mechanisms can analyses directed towards non-discrimination can only play a limited role in tackling the resource be based on a broad array of outcome measures, constraints that fundamentally shape the health- ranging from life expectancy to utility measures. seeking behaviour of poorer households and thus The most important dimensions for health their ability to capture the benefits of health care. financing system are: The principal financing mechanisms \u2022Ensure that contributions to the costs of health In general, health care systems, and particularly care are in proportion to different those in the developing world, depend on a mix households, Ability to Pay of financing mechanisms rather than on only one. \u2022Protect the poor (and the nearly poor) from the For example user fee systems are commonly Financial Shocks associated with implemented in the context of existing tax- severe illness funded systems. Community-based health \u2022Enhance the Accessibility of services to the poor insurance schemes are frequently initiated in (particularly with respect to settings where there are already substantial user perceived quality and geographic access). fees. The degree to which the financing system as a Barriers to Accessibility whole is pro-poor, depends crucially on how the \u2022If the perceived quality of care is very low, even different financing mechanisms interact. For the poor may prefer to pay more example if a social health insurance system for to use higher quality private sector services. those people employed in the formal sector co- \u2022There may be significant time and transport exists with a tax-funded system for those outside costs associated with accessing care, of formal sector employment, then the equity particularly for the poor. effects depend largely on how well funded the \u2022Even in a system where there are no formal tax-based system is and whether it can deliver a charges, informal charges for care may be widely similar package of benefits to the social health prevalent. insurance system. Tackling these problems is important to ensure It is quite common for different segments of the that the mix of financing mechanisms in any population to be covered by different types of country promotes re-distribution between the rich financing mechanism. This was particularly the and the poor, a central element of pro-poor case in many Latin American countries, although financing policies. the situation in this region is now changing. It But who are the poor? In many low income was common for formal sector employees to be countries, the majority of the population is formally classified as poor. It is important to distinguish between the majority poor and the","ETHOS The X-Ecutive, Vol. XVI VoVol.asXVIXVIThe X- usually voluntary. The insurance fund is held by a private (frequently for-profit) company. covered by Escouctiiavel , VhoeVaoltlh.asXinVsIuXrVaInce schemes, 4.User fees: whereas health care services for persons outside Patients pay directly, according to a set tariff, for the health care services they use. There is no the formal sector were generally more limited insurance element or mutual support. This is the most common way of paying for privately and\/or of a lower quality and were paid for by provided services in developing countries, and is also used as a component of financing for public tax-based financing. This situation is commonly sector services. 5.Community-based health insurance: referred to as 'tiering' within the health system. The desirability of alternative financing mechanisms clearly depends upon a number of factors including administrative efficiency, ability to generate revenues and acceptability to the population. The discussion here does not attempt to cover these issues but focuses upon the equity effects of alternative financing mechanisms and only touches upon factors such as administrative efficiency and revenue raising ability where they relate to concerns about the poor. The principal financing mechanisms are of Illustration 4: Healthcare Spending (USD Billion), and following types: CAGR 2017-2022 1.Tax-based financing: Health services are paid for out of general As for social health insurance, premiums are government revenue such as income tax, commonly set according to the risk faced by the corporate tax, value added tax, import duties etc. average member of the community i.e. there is no There may be special earmarked taxes (e.g. distinction in premiums between high and low cigarette taxes) for health care. risk groups. However, unlike social health 2.Social insurance financing: insurance schemes enrolment is generally Health services are paid for through contributions voluntary and not linked to employment status. to a health fund. The most common basis for Funds are held by a private non-profit entity. contributions is the payroll, with both employer and employee commonly paying a percentage of Conclusion salary. The health fund is usually independent of Demand in the health care market is influenced government but works within a tight framework both by individual preferences and by providers of regulations. Premiums are linked to the and public health measures. Accountability for average cost of treatment for the group as a health service delivery thus rests not only with whole, not to the expected cost of care for the economic market theories, but also with aspects individual. Hence there are explicit cross- of health care legislation, professional conduct, subsidies from the healthy to the less healthy. In public health, ethics and politics. It is evident that general, membership of social health insurance patients' rights and consumers' rights will play schemes is mandatory, although for certain increasingly important roles in medical practice groups (such as the self-employed) it might be and in the health care market in the twenty-first voluntary. century. Hence, knowledge of (i) theoretical 3.Private insurance: frameworks of ethics and rights and of (ii) People pay premiums related to the expected cost strategies for their implementation is of great of providing services to them. Thus people who importance to health economists when they are are in high health risk groups pay more, and regulating or influencing the market. It does not those at low risk pay less. Cross-subsidy between make sense to assess whether or not a single people with different risks of ill health is limited. Membership of a private insurance scheme is","ETHOS The X-Ecutive, Vol. XVI only action, but always the result of a sustained VoVol.asXVIXVIThe X- approach that allows adaptation over time in response to experience and changing financing mEeccuhtaivneis, mVoVoisl.aspXrVoIX-pVoIor; such an circumstances. Within such an approach, it is assessment must be carried out with respect to essential that as much attention is given to the complete mix of financing mechanisms and strategies that build and maintain support for the their interaction with resource allocation policies over time, as to technical adaptations of approaches and organisational contexts. policy design. The very poor are unable to make any significant Pro-poor financing mechanisms can only be financial contribution for health services: developed with adequate understanding of the governments must secure health care financing circumstances, needs and potentials of poor for them, and particularly for their use of hospital people. Mechanisms must be found to gather care, either through direct payment from tax their views and experiences as one of the revenues or cross-subsidies in insurance-based foundations for developing and assessing policy. systems. The greatest loss that the poor may suffer as a Government must play an important role in result of illness is the loss of their own labour. protecting the poor, not only through financing Ministries of health need to work closely with health care services, but also through providing ministries of social welfare to develop schemes regulatory and policy frameworks for the various that mitigate the indirect costs of severe illness. forms of financing. User fees and community-based health insurance References are unlikely to be equitable or sustainable if they 1. Mossialos, E. Citizens' views on health are the prime source of health finance. In order to protect the interests of the poor they should be systems in the 15 member states of the viewed only as a means to 'top-up' other European Union. Health economics, 6(2): 109- financing systems (such as tax revenues and 116(1997). social health insurance). 2. Declaration on the Promotion of Patients' Given the substantial equity dangers of private Rights in Europe, Copenhagen, WHO insurance systems and the difficulty of Regional Office for Europe, 1994. establishing an effective regulatory framework 3. The Ljubljana Charter on Reforming Health for this industry, private insurance should rarely Care. Copenhagen, WHO Regional Office for be encouraged. Europe, 1996 (document EUR\/ICP\/CARE Although a financing system may in design be 9401\/CN01). pro-poor, it is important to think about whether or 4. Bennett, S., Creese, A. and Monasch, R. not it is feasible to implement this design. In (1998). Health Insurance Schemes for People practice political pressures may prevent shifts in outside Formal Sector Employment, WHO, resource allocations to the poor, and limited Geneva. government capacity may hinder the effective 5. Gilson, L. (1997). The lessons of user fee implementation of exemption schemes to protect experience in Africa, Health Policy and the poor, or may prevent the promised gains in Planning 12(4): 273-285. quality of care from actually materialising. 6. Mills, A., Bennett, S., and Russell, S. (2001). Poor people's access to health care is often The Challenge of Health Sector Reform: What constrained by low quality care, high transport must governments do? Macmillan, costs, long waiting times and inconvenient Basingstoke. opening hours. Financial reforms, which deliver 7. Normand, C. and Weber, A. (1994). Social improvements in these dimensions of quality at a health insurance: A guidebook for planning, moderate price, particularly in relation to hospital WHO and ILO, Geneva. care, will probably benefit the poor. 8. Russell, S. (2000). Coping with the costs of Exemption mechanisms are inherently difficult to illness: the affordability of health care services design and implement, but they deserve much for poor households in Sri Lanka. PhD thesis, greater priority than they have received to-date. University of London. The effective development and implementation of pro-poor financing policies is never a once-","ETHOS The X-Ecutive, Vol. XVI VoVol.asXVIXVIThe X- Ecutive, GENDERVoVol.asXVIXVI GAP IN CAREER ASPIRATIONS: A STUDY ON BMS STUDENTS Dr. Sukanya Sarkhel Women face unique barriers in the varies by gender (e.g., more specific Assistant Professor workplace, which, in turn, shapes (Economics), their work and organizational and developmental feedback tends to Department of experiences. One barrier consists of Management practices that intentionally or be provided to men). All of these Studies, unintentionally exclude women from St. Xavier\u2019s College jobs and developmental experiences factors can influence the availability (Autonomous), based on gender. This includes overt Kolkata sex discrimination in hiring, being and quality of career opportunities in overlooked for high-visibility or high- Himanshi Ganeriwala stakes job assignments, and not being an organization. B.M.S., targeted for domestic or international 3rd Year relocation opportunities. Gender A large body of literature has sought St. Xavier\u2019s College differences are also found in (Autonomous), developmental assignments after to explain gender gaps in major Kolkata individuals are hired by organizations. choice by examining women\u2019s Women are more likely to be hired into staff positions and have less decision to enter the majors in which access to line experience, which is often a steppingstone to higher-level they are underrepresented relative to management positions. Women tend to report that their initial job men, such as science, technology, assignments are less challenging than men\u2019s assignments. In addition, unlike engineering, and mathematics fields jobs that tend to be held by women, jobs held by men tend to exist in job (Legewie and DiPrete 2014; Leslie ladders that lead to positions of greater power and influence. Gender and Oaxaca 1997; Mann and DiPrete also influences access to information within organizations. Men tend to be 2013; Riegle-Crumb et al. 2012) and more politically connected and have access to more powerful majors leading to high-paying fields organizational members than do women. This is important since (Davies and Guppy 1997; Eide and managers develop impressions about an individual\u2019s career potential though Waehrer 1998; Ma 2009). These both formal and informal interactions. There is also some evidence that men studies conceptualize major choice as receive more favourable performance feedback than do women and that the an individual decision explained by quality of such feedback provided students\u2019 attitudes, values, academic aptitudes, and demographic characteristics. Although many scholars acknowledge the probable role of widespread cultural expectations and gendered beliefs, nonetheless empirical analyses are largely premised on socialization models, whereby gendered characteristics are inculcated in boys and girls through early childhood family and educational socialization, and students arrive at college with well-developed gendered occupational preferences that predict major choices. A number of studies have looked at the effect of gender on student performance. At the primary and secondary education level, Hoxby .","ETHOS The X-Ecutive, Vol. XVI Gender Aspiration Index: VoVol.asXVIXVIThe X- The self-determination theory (SDT) distinguishes between intrinsic and extrinsic (2000) finds Ethcauttibvoe,thVobVoyosl.aasnXdVgIiXrlVsIbenefit from aspirations or life goals, which tend to fall into having more female peers. More recently, Lavy two separate constructs. The pursuit of intrinsic and Schlosser (2011) confirm this finding and goals, relative to extrinsic ones, is associated with present important evidence on the underlying numerous cognitive, affective and behavioural channels in primary and secondary education. outcomes that are considered to be positive for They show that a higher proportion of girls in a individuals as well as for society such as, for class causes fewer classroom disruptions, less example, students\u2019 school persistence. violent behavior, and improved inter-student as Aspirations refer to people\u2019s life goals, and SDT well as studentteacher relationships. At the research on aspirations has focused on the university level, De Giorgi, Pellizzari and relative strength of intrinsic aspirations (viz., Woolston (2012) exploit random assignment of meaningful relationships, personal growth, and students to classes and present evidence for community contributions) versus extrinsic inverse u-shaped gender peer effects on aspirations (viz., wealth, fame, and image). achievement, which suggest that the optimal peer Specifically, research has examined the group is gender balanced. Oosterbeek and Ewijk antecedents, correlates, and consequences of (2014) conduct a field experiment at the placing strong relative importance on the University of Amsterdam and find no evidence extrinsic versus the intrinsic aspirations. for gender peer effects on performance, but The Aspiration Index was developed to assess present suggestive evidence that women\u2019s people\u2019s aspirations. The seven categories perceptions of the classroom atmosphere were include: the extrinsic aspirations of wealth, fame, altered. and image; the intrinsic aspirations of meaningful Traditional theories of career development relationships, personal growth, and community propose that career aspirations develop in specific contributions; and the aspiration of good health stages from childhood to adult hood. According which turned out not to be clearly either extrinsic to Ginsberg (1952), young adolescence from 11 or intrinsic. Participants rate: (1) the importance to 14 years of age has tentative choices based on to themselves of each aspiration, (2) their beliefs interests but with little attention to realistic about the likelihood of attaining each, and (3) the constraints. By the age of 14-24, adolescence are degree to which they have already attained each. in the exploration stage with progressive Various approaches to data analyses can be found narrowing of career options from identifying in research articles such as Kasser and Ryan tentative options to making final decisions (1996). regarding career choice. Gottfredson's (2002) In this research, it is established whether boys theory asserts that at the age of 14, students begin and girls studying in St. Xavier\u2019s College, to adjust their career aspirations to factors of Kolkata (Autonomous), have systematically personal self and compromise their options to different educational aspirations and attitudes more realistic factors (Hirschi 2010). and, furthermore, identify specific individual, Our intervention is to highlight a relatively household and background characteristics that under-represented source of influence on the either exacerbate or mitigate gender disparities in development of gendered career aspirations and educational aspirations and attitudes. Three attainment: the role of peers and peer-related dimensional variables, which are, a student\u2019s processes. Also to see how do career aspirations aspiration or career goal before they entered in relation to a student\u2019s family occupation college, their current goal and their future goal. impact the gender differences? To understand the The data collected through the primary survey extent of gender aspiration among the peer group was coded into numeric numbers for the Gender of boys and girls we did a primary survey. The Aspiration Index analysis. survey questions were transformed into Gender We use three dimensions, which are, a student\u2019s Aspiration variables such as social status, ability, aspiration or career goal before they entered family environments, academic achievement, and attitudes to college. We construct an index of Gender Aspiration discussed as follows.","ETHOS The X-Ecutive, Vol. XVI business in future, while their female peers to be VoVol.asXVIXVIThe X- doing a job. The percentage of males pursuing higher education and doing a job after completing college, theirEccuutrirveen, tVgoVoaoll.asnXdVtIhXeVirI future goal. college is lesser as compared to females. The The data collected through the primary survey difference in the count in the context of marriage was coded into numeric numbers for the Gender is negligible. Aspiration Index analysis. Gender dummy We found that there is a negligible difference Parents Educational Qualification, Education of between the male and female gender aspirations, respondents, Last academic performance between the students of the BMS Department. (Percentage of marks), Occupation; The average aspirations of females are higher GAI = (index_aspiration_before + index_ than the male students only by 0.05, which current aspirations + index_future goal) \/ 3 indicates that there is gender equality in the The Gender Aspiration Index was calculated aspirations of students of the BMS Department of using the formula:- St. Xavier\u2019s College, Kolkata. This also refutes (Aspiration Before Entering College \/ 4 + the perception of the people that women only do Current Aspiration \/ 4 + Future Goal \/ 4) \/ 3 a certain kind of job or are only housewives. Here, 4 represents the maximum value of coded Even women are as ambitious as men are. data. Since, the range of coded data was from 0 to 4, the maximum value was 4 and hence, the same. Results and Findings: This part discusses the data analysis and findings of the study. The questionnaire used in this retrospective study was carefully analysed to ensure that the data gathered was presented clearly with the aid of tables, percentages and graphs, where possible. A retrospective chart analysis was conducted to capture the data essential to accomplish the research objectives. Illustration 2 Graph 2 shows almost equal results on GAI if Mother\u2019s educational qualification is considered. No matter till what level are their mother\u2019s are educated, students tend to have high career aspirations and their mother\u2019s educational qualification does not affect their career choices and goals. Illustration 1 According to the findings, 56.7% of the subjects Illustration 3 under investigation were females, and males, accounted for 43.3% of the sample. Current Level of Education Distribution the majority of the students are studying in First Year of college, i.e. 57.6%, followed by Second Year students who account for 33.3% and Third Year students are the least comprising 9.1% of the total sample. From the findings, we conclude that most of the respondents think their male peers to be doing a","ETHOS The X-Ecutive, Vol. XVI male peers will run a business in future (0.67), while others consider them to do a job or a start- VoVol.asXVIXVIThe X- up. In case of fEatchuetirvse,aVnodVtohle.aisrXeVdIuXcVatIion, we see almost no difference in a student\u2019s career aspirations affected by their father\u2019s educational qualification. Irrespective of their fathers studying till Higher Secondary or being an Undergraduate or Postgraduate, students are found to have high aspirations and are not limited by their parent\u2019s educational qualification. Illustration 6 Illustration 4 We also ask whether they have any gender bias in Illustration 7 their Boss (see chart 4). That is do they like male or female boss. We found interesting response in Conclusion this case, that students, who have the highest Thus, we see that students who have high GAI, GAI, prefer to have a Female boss, while i.e. 0.80, think that their female peers will run a students who have GAI\u2019s lesser, are indifferent or business in future. The ones with low GAI would prefer a male boss. consider their female peers to get married after graduation. There are almost equal thoughts Illustration 5 among Higher Studies and Startups with minimal difference. The students with 0.54 GAI think that In order to capture the peer effect in career their female peers will do a job in future. This aspiration, we ask whether they know about their elaborates on the fact that students with higher peers career goals. We found that, students who career aspirations think that their peers also have have the highest GAI (0.77) think that most of high career aspirations and want to achieve their male peers have a future goal of doing something in life. higher studies in India, while the ones who have low GAI think that their male peers will get married in future. Most of them think that their","DID It seems pretty simple at rst glance, yet if you look closely at the rst letter, you\u2019ll see that it YOU resembles a pin we might use for papers or photographs. Pinterest literally \\\"pins\\\" pictures to NOT walls, only it does so electronically. KNOW Since 2010, Google has been acquiring one company per week. \\\"Yahoo\\\" is an acronym for \\\"Yet Another Hierarchical O cious Oracle\u201d. Apple\u2019s ipad retina display is actually manufactured by Samsung. The speed of the Bombay Stock Exchange, Asia's rst and the fastest Stock Exchange in the world, is one trade in every 6 microseconds. Approximately 6000 companies are listed on the BSE - highest number of listed companies in the world. The 'bull' and 'bear' words that are used in the market come from the way these animals attack their opponents. A bull thrusts its horns into the air upwards, while a bear swipes its paws downward. 65","What kind of impact are the advances in technology having in the \ufb01eld of marketing? The advent of computers, the Digital Age, AI and Robotization, and the Inter- net of Things have changed the face of marketing. Marketers will continue to put their resources into brand building and TV advertising. If they only do this, they will fail. Companies must commit to undertaking a major transfor- mation of their business and marketing structures and strategies. Speci cal- ly, marketers must move from gross segmentation to micro-segmentation, preferably down to one-to-one marketing. Marketers need to track or buy data on existing and potential individual customers. They need to apply analytics to this data in the pursuit of customer insight. Customer insight will then guide marketers in their choice of modern digital platforms, including Facebook, Google, Apple, and Amazon. The main idea of modern marketing is to combine data and creativity to achieve the company\u2019s sales and pro t goals. How do production, sales, and marketing work together in this digital age? Has digitalization simpli\ufb01ed the process or made it more challeng- ing? Traditionally, people in business thought that production comes rst, then sales, and then some marketing support work. This is now seen to be back- ward. Marketing comes rst and decides what products the company should make in order to achieve pro table sales. Production comes second to make the chosen products. Then sales comes third to carry out the marketing strat- egy. Digitalization has increased the ease and opportunity for production, sales and marketing to work well together. Companies now get quicker information on sales results and therefore can respond faster. They can more readily tell whether insu cient sales are due to poor product design, poor sales training, or poor marketing decisions. Companies should distinguish between satisfying a person\u2019s needs, weighing the impact on the person\u2019s wellbeing, and the impact on the public\u2019s well-being. What are your thoughts on this? Traditional marketing only paid attention to satisfying a person\u2019s needs, regardless of how this a ects the person\u2019s well-being or the public\u2019s well-be- ing. It was enough for marketers to successfully sell a lot of Marlboro ciga- rettes, Coca Cola, and McDonald\u2019s hamburgers, ignoring the e ects of these on health and obesity. I have turned down engagements to help these com- panies sell more of these products. I have campaigned for marketers to take a more responsible view of what they market. I created the eld of social marketing to provide marketers with the marketing tools to ght against consumers choosing unhealthy products and services. Social marketers have been successful in driving down smoking and making more people conscious of healthier products. The world both literally and \ufb01guratively has been taken over by the \u201cMillennials\u201d. How well have marketers adapted to this new audience which believes in thinking di\ufb00erently? Millennials can be de ned as those born between 1997 and 2009. They range in age from 11 to 23. They di er from the previous generation Z who expect brands to provide them customized and personalized products and services. Millennials are more interested in being authentic. They suspect brands that broadcast manufactured images that are too good to be true. Millennials have a high concern about social change and environmental sustainability. They are more inter- ested in brands that solve social and environmental issues. They volunteer more for good causes and expect their employers to stand for community values in addition to product value. 66","Of course, millennials in di erent nations may Je also led in the creation of cloud computing. exhibit cultural di erentials. And even within one Je and his Amazon deserve a major prize for nation, there can be signi cant di erences constant innovation. between younger and older millennials. It is the marketer\u2019s job to delineate the beliefs, values and Is marketing getting su\ufb03cient importance behaviors of those millennials who they want to in corporate boardrooms today? There is a target, serve and satisfy. lot of debate at present about how to move marketing higher up the boardroom agenda. What are your views on this? Innovation is key to any successful business. The consulting rm McKinsey has identi ed What are companies doing di\ufb00erently to inno- several companies whose success revolves on vate? Are there some marketing innovations great marketing. But McKinsey also points out that you feel could change the way the indus- that many companies have its non-marketer try works? o cers giving less attention and respect to Most companies only occasionally innovate. I am marketing and undervaluing marketing\u2019s impressed with those that continuously innovate. potential. Marketing cannot succeed only on The 3M company is always innovating new glues, its own. Marketing needs a close and respect- resins and materials. They invented the famous ful working relation with the CEO, CFO, COO Post It notes, quite by accident which often hap- and CIO o cers. pens. I am also very impressed with FujiFilm. When Kodak and FujiFilm both lost the lm market, Negative marketing is more e\ufb00ective in Kodak went bankrupt but FujiFilm became an grabbing the attention of consumers in even bigger company because it turned to Never comparison to positive marketing. What are your thoughts on this? Stop innovation. Its CEO, Dr. Shigetaka Komari, If negative marketing means pointing out found that FujiFilm had a number of neglected weaknesses rather than strengths in product technologies that can help advance medical care o erings, negative marketing can often get and skin protection. My co-authored book, Win- more attention. Pointing out how your product ning through Innovation, describes how compa- makes up for most or all faults of a competitor\u2019s nies can master innovation planning and imple- product draws a lot of attention and conviction. mentation. I will also coauthor Never Stop \u2013 Win- ning through Innovation, the story of FujiFilm\u2019s What is your message for the students of success. St. Xavier\u2019s College (Autonomous), Kolkata? Don\u2019t forget the basics of marketing as you According to you, which company is an exem- wend your way through my or other marketing plary marketer in today\u2019s day and age? textbooks that teach not only traditional mar- keting but also data and I have always been impressed with companies digital marketing. Your such as Apple, Nike, Starbuck, Cisco and others. job is to de ne the The company that I am most impressed with group whose lives today is Amazon and its CEO, Je Bezos. Je start- you want to ed 25 years ago with the idea of opening an online improve by meet- book service to compete with the big bookseller, ing signi cant Barnes and Noble. Then he expanded to the idea needs they have for that all goods should be available for purchase moving forward, online. Amazon has became one of the world\u2019s while all along you largest retailers. Then Je purchased the Whole pay close attention Food chain of grocery stores and used it also as a to other competitors distribution platform where people could pick up and their o er- online products. Recently, Je created a No Shop ings to satis- store with no personnel where people just select fy the products and walk out with them, already auto- same matically charged on their credit cards. Now he is needs. thinking of expanding this to large grocery stores using far fewer workers. 67","X - INNOVATIONS 1RYOBI Ryobi Robot is an artificial-intelligence-powered tool designed to help kids between the ages 3 to 7 years to learn languages and STEM skills. Roybi Robot gradually tailors its interaction and response to a child\u2019s unique learning style, even recognizing the child\u2019s prevailing emotions and accordingly displaying content he or she most enjoys. Kids can hear a story, sing a song or learn a lesson. The robot provides children a personalized form of education. REPURPOSING 2PLASTIC Only 9% of non-degradable plastic consumed is annually recycled. This is partly because of lack of the non- sustainable process of recycling that does not produce odours and contaminants. Much of what we put in our bins is not reusable. Hoping to mend this, PureCycle Technologies Ltd. is using a new method to repurpose used polypropylene, turning it into resin - which has multiple uses. This purification process churns out colourless pellets, making the produced material hygienic enough for even food-grade applications. PureCycle Technologies Ltd. has planned to use only a fraction of energy in comparison to other plastic degradation processes. Commencement of this is scheduled to start in 2021 ZOOMABLE 3 CONTACT LENS A team of the scientists from the University of California San Diego developed Telescopic Contact Lenses that has 3X optical zoom. The \u2018zoomable\u2019 contact lens follow your eye movement and allows users to activate its features by blinking. In a paper published in Advanced Functional Materials, the researchers have detailed their design and further elucidated on this technology which has the quintessential potential to be used in visual prostheses, adjustable glasses, and remotely operated robotics in the future. 68","A GLIMPSE OF THE BEST INNOVATIONS THAT TOOK PLACE IN 2019 BELL NEXUS 4 Garmin International, Inc. is developing and integrating autonomous vehicle management computer systems for the Bell Nexus, an airborne taxi, ensuring it will have the primary flight information, navigation and communication, flight guidance, and flight management systems to get passengers to their destination efficiently. The company showcased there flying taxi prototype at the CES 2019, giving a glimpse of the future of transportation. According to the company, their hybrid-electric propulsion and gas-turbine-engine airborne taxi should be commercially available within the next five years. 5TESLA CYBERTRUCK The Tesla Cybertruck, a battery powered light commercial vehicle in development by Tesla Inc., has changed the perception of the entire automotive community. The Tri Motor All-Wheel-Drive will be able to carry 3,500 pounds, tow up to 14,000 pounds and increase the speed from zero to 60 in 2.9 seconds. It will also be able to drive up to 500 miles on full charge. Base models will have a mileage range of 250-300 miles. In addition, the truck has all enclosed storage spaces, a sliding cover, an adaptive air suspension system amongst several other unique features. Unlike any normative truck, these cybertrucks are a new addition to the future of technology. 6 GENNY Watergen Pvt. Ltd., an Israeli company, came up with \u2018GENNY\u2019, a machine that can pull moisture from ambient air to create drinkable water through a patented filtration process, creating a dual effect of producing potable water and dehumidifying the surrounding atmosphere. \u2018GENNY\u2019 can produce up to 7\u202fgallons of water in a day requiring only electricity or solar power and no plumbing. The multistage purification process can produce clean water even in areas that have highly polluted air. Larger units of the product are already being used in disaster-relief efforts. 69","SIDE COURSES In this age of dynaminism, when the world is growing faster than ever before, entering particular systems without exploring can makes us inflexible and unyeilding. Our environment offers a plethora of career options and today, jack of all trades no longer has a negative connotation,as we are encouraged to not confine our abilities when we choose an exclusive or rigid career option. The mindset of Indian students are conventionally lead by selection of generic courses and degrees that limit our opportunities of exploration in varied field of interests. As students, our objective should be to diversify our skill set by learning outside the walls of prescribed text books via other allied and related courses which in the long run help in self development and skill enhancement. Opting for side courses provide benefits that can help students find their niche and forte through varied permutations and combinations of learning. Additionally, also enable an individual to understand their interests, strengths and weaknesses helping shape the eventual forthcoming career path. We provide this list of knowledgeable embellishments that may prove to be of your interest. These courses lean more towards practical application in contrary to theory based educational system and are definitely skill enhancement opportunities. Event Data analytics Stock market Money Management Floriculture Management is is a process of engagement is a is the process of Management the application inspecting, cleansing, dynamic prospect budgeting, saving, involves growing transforming and that revolves around and arranging of project modeling data with the making investments investing, spending flowers to use management to goal of discovering and subsequently or otherwise for ceremonial the creation and useful information, generating profit out and aesthetic informing conclusion of it. The opportunity overseeing the development and supporting of high gains and capital usage of an purposes. of large scale decision making. fast income is the individual or group. Floriculture events such Data analysis has biggest pull for The predominant programs provide as festivals, multiple facets anyone looking use of the phrase instruction in soil conferences, and approaches, into stock trading testing, irrigation, ceremonies, encompassing diverse and investment. in financial floral design, weddings, formal techniques under a markets is that plant genetics, parties, concerts, variety of names, and To explore the of an investment fertilization or conventions. It is used in different opportunities in techniques, plant involves studying businesses, science, terms of good profit, professional identification and and social science more focus and making investment plant diseases. the brand, domains. In today\u2019s plans are required decisions for large Management identifying its business world, data for trading. The training courses target audience, analysis plays a students pursuing pools of funds, devising the key role in making the course will such as mutual focus on event concept, scientifically and funds or pension business and and coordinating technically backed learn how to plans. Money financial methods the technical decisions and helping appropriately plan management can businesses operate with good strategy also be referred to in for running aspects more effectively. and capitalize on more narrow terms a floriculture before actually as \u201cinvestment launching the opportunities to management\u201d business. enhance profit. and \u201cportfolio event and management.\u201d Flo r i c u lt u r e managing it throughout. Money M a n a g e m e nt E V E NT Data Stock Trading M a n a g e m e nt MANAGEMENT A n a ly t i c s Course Course 70","Digital M u lt i m e d i a a n d F o r e i g n Coding Excel Marketing Animation Language Coding is a Microsoft Excel computer language formulas, Digital Marketing Animation is the art Foreign Language formatting is the marketing of presenting still study creates highly used to develop photographs with applications, options, and of products the help of various positive attitudes websites and other data or services computer based and less prejudice software. The management using digital techniques in a towards people who and visualization technologies come from different benefits of learning tools can help on the Internet, manner which gives countries and cultural to code are quite students to an impression to vast. No longer do perform complex through the viewer that it is backgrounds. we live in a time mathematical, mobile phone running like a film. Analytical skills when only tech logical and applications, improve when professionals are financial It could be a mixed students study a using this useful calculations display version of multimedia foreign language. language. Being faster with advertising, Learning another able to utilize the accuracy. It and any other text, graphic art, culture and novel commands of contains various digital mediums. sound, animation semantics enables code will enable educational Digital marketing and video sourced people to expand us to have more and business channels are through computer their horizons, control over the tools and systems based technology we features. Data on the Internet or some other in addition to depend upon. Few management that can create, electronic media. provoking a profound other courses in and visualization accelerate, Students pursuing this domain are in business is and transmit animation will learn understanding of Ethical Hacking crucial. In the product value to involve accurate their own culture. future,students from producer combinations of Foreign language and Cyber Security. may work in to a consumer design, drawing, study enhances In this world of organizations terminal, through layout, photography, one\u2019s placement and companies digital networks. videography, etc. internet, the need were being This course Nowadays, it\u2019s being opportunities for professionals comfortable gives individuals widely used in the in government, in the same field and skilled in an in-depth field of marketing as business, medicine, dealing with data knowledge about an unconventional law, technology, has increased and information the social media technique to convey military, industry, tremendously. through excel will platforms, how ideas in a creative marketing, etc. be an asset. to attract people and increase manner. It provides a traction for the competitive edge in product\/service career choices: one is that\u2019s being able to communicate marketed. in a second language. Additionally, creative capacities, listening skills and memory are amplified. \u201c We keep moving forward, opening new doors, and doing new things, beacuse we\u2019re curious and curiosity keeps \u201cleading us down new paths. - Walt Disney. 71","A R V I N DArvind Virmani served as the V I R M A N I13th Chief Economic Advisor to the Government of India, and was India\u2019s representative boxes of economic reforms for implementation in the to the International Monetary next 5 -10 years. This included the creation Unique Fund in2009. He is a former Identification number (UID) and a UID based Direct member of the Technical transfers to replace subsidies, and elimination of Fiscal Advisory Committee of RBI on & Revenue deficits to obtain triple A credit rating. These Monetary Policy, and has held reform were essential to maintain fast growth of 7.5% various other positions for to 8%. This was the first economic survey ever, to make the formulation of economic specific policy recommendations. policy reforms. Among the people you\u2019ve worked with or your India has not taken any financial assistance from the contemporaries, who has inspired you and why? IMF since 1993 and its current quota in the IMF is SDR I have never had heroes and saviors, but have always (Special Drawing Rights) 5,821.5 million, making it the 13th largest quota holding country and giving learnt from everybody with different information, it shareholdings of 2.44%. What were your primary knowledge and experience. In my 25 years in Govt. my engagements with IMF as India\u2019s representative in doors were always open to anyone who could teach me something i didn\u2019t know. I must have met and talked to 2009? Two issues engaged my attention and time at IMF. How 100s of people. to deal with the effect of the Global Financial crisis Given the current economic scenario of the world on the indebtedness and Growth of many countries and the numerous reforms that were brought including Euro area countries like Greece, Ireland and about in India, in the last five years in, how well do Italy, and UK & USA decline in Growth. The second issue was the need for an increase in India\u2019s IMF Quota and you think India as a country is doing? Voting rights commensurate with the growth in its GDP Since 1980 the rate of growth of per capita GDP has at Purchasing power parity. I wrote several papers on accelerated over the decades till2008. Since then these issues, a couple of them are available in the IMF complacency, sweeping of problems under the carpet and poor design of policies has slowed growth. Staff paper series. Recovery of GDP growth to trend is likely to be slow & prolonged unless there is tax reform, unclogging of You\u2019ve published several books that focused on the credit channels & labor, land & agro reform to improve economic conditions of India. If you had to select a topic on the basis of the current economic scenario, competitiveness. what would it be and why? Demonetisation and the application of Goods and Most of my books are a collection of research articles. The Services Tax (GST) will always be a controversial one I have just completed is on the current economic discussion. As the youth of India, conclusion situation and is titled, \u201cGrowth Recession: The J curve of regarding the applicability of these policies, what Institutional Reform\u201d. are your views on the same? As the Chief Economic Advisor of India what were Demonetization was just the concluding part of an the challenges that you faced? What are some of Anti Black money campaign that successfully reduced the biggest challenges faced by office holders in a the size of the Black economy, at the cost of economic growth (an estimated ~ 0.6% of full year GDP for country like India? demonetization). Similarly a simpler, well designed GST As the CEA I had the challenge and the opportunity could have raised GDP growth by 1-2%. In contrast an to deal with (1) A great surge in capital inflows, (2) The sharpest increase oil prices in two decades and the excessively complex GST did the opposite. Global Financial crisis, the biggest global recession since What word of advice do you have for students the Great depression. pursuing a career in econimics? Was there any particular economic or policy reform If you want to learn Macro economics, follow me on that you wished to implement at the time you held twitter @dravirmani, read my blog Dialogue , follow be office, but couldn\u2019t due to certain reasons? Is there on Facebook Authors page and read the articles on my any reform you\u2019d like to see in the coming years? web-site. In my last economic Survey 2008-9, I proposed three 72","ETHOS The X-Ecutive, Vol. XVI VoVol.asXVIXVIThe X- AREEcutive, VoVol.asXVIXVI PURCHASE DECISIONS TRULY UNDER YOUR Shashank Jain DOMINION? B.Com (M), 1st Year Well then, let\u2019s reckon our highbrows one last time. St. Xavier\u2019s College Careful! (Autonomous), Who knows... even you might NUDGE yourself away. Kolkata For a long period, economic theory Illustration 1 Nimisha Bothra was based on the assumption that the B.Com (E), whole of an economy was made with using that knowledge to cater to the 1st Year rational agents. Agents who know real needs of their customers. Though St. Xavier\u2019s College what is right for them at all times, unless you are genuinely interested in (Autonomous), who can do calculations as Psychology and have read this genius Kolkata complicated as deciding how much to book, you would not know much save right now so that they can lead a about these so-called Nudges that happy and satisfied retired life. affect your decisions without you However, in 2008, Nobel laureates, even knowing them. Richard Thaler and Cass Sunstein put However, marketing today has turned forward a book, which turned the into something much more significant theory about the rational agent model than just making people understand on its head, the approach on which the importance of a product and most of the modern economics was hoping that they buy it. based, Nudge. Today, it involves getting to \\\"The first misconception is that it is understand the psychology of the possible to avoid influencing people's customers and target that to induce choices.\\\" them in making the buying decision. In his and Cass Sunstein's 2008 In such an environment, Nudges are book, Nudge, Richard Thaler, made it used a lot, even at places where no clear that, no matter how much we one expects their use! think that we are not affected by the The point we'd make here is that we behaviors of others, the reality is, we encounter a number of these are. (A fact, which has been proved psychological nudges which, by in numerous studies around the unknown to us, shift our behavior in a world). different direction. Keeping this in mind, he argued and Let us take a look. correctly so, that there are some 'aspects of choice architecture' that can help alter people's behavior predictably, without limiting any options.He referred to these as 'Nudges.' Marketing is something that has always looked to understand the behaviour of customers \u2014 possibly","ETHOS The X-Ecutive, Vol. XVI AFRAID OF LOSING? DON'T WORRY, WE ALL ARE! VoVol.asXVIXVIThe X- No matter how much we think ourselves as a How aboutEhcuatvivine,gVoaVofilc.atsiXonVaIlXVthI erapist for \\\"risk-taker\\\" in life, but the blunt truth is, most of your decisions? us are not (and there is a good chance that you When was the last time you subscribed to a fall in the \\\"most of us\\\" category) service? This hypothetical example shall make it clear for Remember how you thought of buying a cheaper you: plan, but ended up purchasing a costlier one? Let us say that you've given a gamble with a coin Well, even though you might think that you are toss. very conservative in making these decisions, the If it's ahead, you win Rs.1000, reality is that you're probably not! Embrace the If it is a tail though, you have to give Rs.1000 power of Anchors occur when we are How willing are you for this bet? subconsciously affected by the numbers We guess not very willing! that we have seen first. Na\u00efve,eh? We, as humans, hate losses roughly as twice as Well, not so much! much as we like gains; This is a fundamental In the subscription window, the app shows us the principle in Behavioral Economics, which was most expensive plan first, and without even first observed by D.kahneman and A.Tversky in knowing it, our subconscious mind gets anchored their brilliant, career-defining study on Prospect towards that high price, and well, anything less Theory. We are, as they called it, 'Loss Averse' than that price seems like a good deal, so why creatures. take the plan we thought we would when the This principle is used all over the world in better one than that looks so alluring? various policies aimed at ensuring that people do When we see an offer, a key element in accepting what's best for them. or rejecting it is whether it appears to be a \\\"fair Marketers, however, have used this principle in a deal\\\" or not. Buying pain \u2013 the activation of our very slick way. brain's pain center when paying for a purchase A theory, which is closely related to loss aversion rises when the price seems too high. Anchoring is is the Endowment Effect. Coined by Richard creating a 'reference point' in the subconscious Thaler, it is the feeling of owning something, mind that effects these rational equations. where the idea of possession increases its worth We all are guilty of spending too much money at regardless of its objective market value. a 'sale,' buying stuff that probably we will not In simpler terms, we value something which we even use. have, more as related to the time when we did not Anchoring is, again, the reason. have it. Companies like Spotify, Netflix, make use of this tendency of ours, by offering free trials to use their service. Though we do not necessarily have to purchase the premium after Illustration 2 We see the high price, which acts as an anchor, Illustration 3 and the lower price alongside, makes us feel that we are getting a fair deal, and we all know what the trial, the disadvantages of a change loom happens next. more substantial than its advantages, and we end Experiments have even shown that something as up, more often than not, buying the subscription, random as making people remember a random number can have an effect on the amount they would be willing to pay for a commodity. Well, having a fictional therapist does not seem that bad now, does it?","ETHOS The X-Ecutive, Vol. XVI slow and steady. The next day you find yourself VoVol.asXVIXVIThe X- talking to a friend over brunch. Jake, always the pessimist, explodes when he because the Epcsuytcihvoe,loVgoiVcaoll.acsoXstVIoXf VgIiving up the hears about the only two weeks left for you to benefits of a premium experience is higher than finish. So for him, it is not the two weeks that the cost of actually purchasing the premium are left, but the two weeks you have already package. exhausted and cannot get back. It is two weeks gone, which you could have used Illustration 4 to finish the project. It is two weeks you're using to pursue one thing where you could have FOMO is no longer just a trendy hash-tag pursued multiple things. The tale takes a twist \\\"the opportunity disappears at midnight.\\\" when even 'you' start thinking about the This statement (or some variant of it) is seen by opportunity cost of not being more productive. most of us quite often. Mostly in the notification That is when you burn the remaining two weeks bar on our phone, we get to see shopping sites as well. \u2018inviting\u2019 us, lest this opportunity slips from our Guess what? hands. What happened here was a powerful tool of 'convince and convert.' By merely changing the way the problem was presented, you become more risk-averse, slick huh? This cognitive bias of what we call Framing seems prepared on its track now. Do try out this classic Nudge someday. You never know, after all, it might turn as your tweak to stop losing money as well. Now consider another instance where there has been a mass-scale tragedy, and many people have been prone to what we call the 'Asian disease problem.' Now, the next day, articles flood in various newspapers wherein one newspaper talks about Illustration 5 No, they don\u2019t have a particular liking to us as Illustration 6 their customer, sorry to say. These are just intuitive Nudges that create a 'fear' of missing out 2400 people being saved from the clutches of this in our minds, and our loss averse mindsets see mass tragedy. this 'missed opportunity' as a prospective loss, and you already know how we feel about losses. Thus, we get busy in searching for the best deal on a product we did not even need a few minutes ago Your tweak to stop losing money: Let us say you have got a deadline to meet. It's been past15 days out of 30, and you are working","ETHOS The X-Ecutive, Vol. XVI Next time you go to a supermarket, study the VoVol.asXVIXVIThe X- packages of cooking oil that you buy. They claim it to be 80-90% fat-free, and not In the secondEcsuettiv, eo, nVothVeolo.athsXerVhIXanVdI, the idea is including 10-20% fat framed negatively as losses, stating a shattering Why? weekend that has seen the lives of 80% of its Well, because the term including 10-20% fat stirs citizenry taken due to the epidemic.Humans are, a negative image in our sub-conscious mind, and as we know, loss averse.When presented with marketers are well aware of the fact. potential losses, the idea of accepting guaranteed Framing today, is not only limited to na\u00efve losses is bothersome.The obvious question, here, packaging techniques. It has become an apt of course, is why? technique of Brands for their campaigns. Why are we influenced more by numerical figures framed as frequencies rather than Illustration 8 probabilities? We are driven by emotion far more than Take the Propah Lady campaign by sports-wear rationality, and for that reason, appealing to giants, Puma, in which they wanted to break the statistical evidence rarely compels us to act. idea of what a \\\"proper lady\\\" is as per society Statistics are not easy to visualize. Visualizing norms.What they did was put in our minds what something as abstract as 80% of the population mindset their brand stands for. seems so challenging so effortful. A woman who purchases a puma shoe now does The first clue regarding the potency of stating it, not only because they are comfortable, but numbers as frequencies comes from because she believes that by buying a Puma shoe, disproportionate attention to numerators, a she is doing her part in the break this taboo of phenomenon known as the Denominator neglect. being a proper lady. So even if the remaining 20% of the citizenry hints at a figure of 2400 lives, people would still sail under its influence Illustration 7 Your Preferences are Different from Everybody Else\u2019s? This is the power of Framing Wikipedia says: -We doubt \\\"The framing effect is a cognitive bias where people decide on options based on whether the Consider this statement: options are presented with positive or negative \u201c90% of an unidentified group of people have connotations.\\\" It is no surprise that we inherently like good read this article and only around 5% have read news, and are repugnant about bad ones. Our the other one\u201d subconscious mind, following on cue, also strives for positive information more in contrast to the Now ask yourself, based on this hypothetical fact, negative ones. which article would you take up first, assuming that you don\u2019t know anything else about the articles? We guess you have got the answer yourself. Man is a social animal, and whatever we do, however, developed we might become, the basic instinct of wanting to be part of a group will always be present in us.","ETHOS The X-Ecutive, Vol. XVI The reason? VoVol.asXVIXVIThe X- Well, as soon as you read the word, Lottery, what image did come to your mind? Take online sEhcouptipvien, gV,ofVorole.axsaXmVpIlXe,VgIo and check Exactly. your purchase history once, when was the last It was the massive sum of money, the excited, time you bought a product that had a 1-star happy faces of the winners, and not the rating? disappointment on the faces of a vast majority of If you're like us [which mostly you are], Lottery ticket buyers. probably never! Sites like Amazon realize this tendency of ours well and make the consumer ratings clear and easy to see, and without you even knowing it, you choose a product that is socially proved by several people before you. Moreover, suggestions like \\\"customers also bought\\\" also strikes in well into our need to blending in. So much, for those 'different preferences,' eh? Knock Knock! Illustration 10 Any Mental Shortcuts for Judgement? Well, look, what's here! Lottery sellers very aptly advertise the prize If you've been born and bought up in an Indian money and glorify the winners, so that the image household, like us, you would have been called that is prominent in our minds is what they want 'lazy' several times, and sometimes, those exactly. allegations will not even be true. These shortcuts are always used by our mind, and However, our mind, well, our working system of like most shortcuts, they are easy to take, but this the brain at least, is inherently lazy.Rather than one leads us to a destination which we may not carefully considering all facts and figures, it even have wanted! jumps to a decision, which has been affected a lot by recent and near-by events.This tendency of What is the Point, Then? our mind is termed \\\"Availability Heuristic,\\\" It is Thaler and Sunstein put forward the notion of the fact that we rely heavily on immediate \\\"choice architects.\\\" A choice architect, they said, examples that come to our mind when evaluating has the responsibility for organizing the a specific topic, concept, method, or decision. context in which people make decisions. Through better choice architecture, plans can Illustration 9 help their participants on many dimensions. Attention to choice architecture has become This idea is used very effectively in lotteries. increasingly important over the years because Though statistically, the odds of winning one of plans have significantly increased the number of the biggest lotteries in the world are about 1 in options they offer, making it even harder for 175 million, still the lottery sales increase, year people to choose well. after year. A Nudge, as we now understand the term, can help a lot in this process. However, choice architecture itself lands us by a ferry to a new movement, \\\"Libertarian Paternalism\u201d.","ETHOS The X-Ecutive, Vol. XVI VoVol.asXVIXVIThe X- Ecutive, VoVol.asXVIXVI which, though maybe an effortless job for an Econ, is not that simple for us, as Humans. Illustration 11 The employees, in this context, who fail to join the plan appear to be saving at less than the The seemingly oxymoronic term, in fact, makes predicted life cycle savings rate. That is much sense as far as people's choices are when Thaler and Sunstein proposed, The Save concerned. More Tomorrow program, a defined savings The libertarian aspect majorly pinpoints at the program, which invites people to commit fact that people should be free to do what they themselves in advance to a series of contribution like. The paternalistic aspect, on the other hand, increases, timed to coincide with the pay risers. claims that it is legitimate for the choice Once someone joins the program, the saving architects to influence people's behavior to increases are automatic, using inertia to increase make their lives stronger, happier, and savings rather than prevent them. In the year meaningful. following the implementation, only 6% opted out, So Libertarian Paternalism together hints at but the ones who stayed have significantly made influencing people's choices keeping in mind the more money available for retirement. most crucial factor of all times, their freedom of What we do not seem to realize is that marketers choice. today have become choice architects for Making the long story short, the essence of this consumers, and the scary thing is that, they may concept is to approach your process creation and not care whether their customers are user experience design with the mindset of making better decisions, or not. helping your customers make better decisions, All set and done, we come to the hard fact of life faster. wherein people today are too delusional about People perform amazing feats, but they do reality. While we often like to think of ourselves commit ditzy blunders as well. Choice as highly rational and logical, we got to agree that architectures are then expected to come up with a the human brain is sometimes too optimistic for system that is designed and adjusted accordingly. its good. For instance, the Automated Teller Machines will Even we are not spared of this cognitive bias. not disperse cash until you take the card out, to Even we are unrealistically optimistic about how make sure that you do not lose your card inserted good this article is! in the machine only. Another very famous example of an apt act done Illustration 12 by choice architects by the use of Nudge is The \\\"Save More Tomorrow\\\" program. As firms So here we realize that the post might not be switched from 'defined benefit plans' to what we painting the most flattering picture of the car, call as 'defined contribution plans,' employees right? bear more responsibility for making decisions of Nevertheless, what is an honest person like about how much to save for their retirement, yourself supposed to do? You do not want to lie,","ETHOS The X-Ecutive, Vol. XVI or to improve your overall customer experience, VoVol.asXVIXVIThe X- Nudges are often a low effort, high reward way of making that happen! but you do Ewcuatnivt et,oVoimVoplr.oasvXeVyIXouVrI chances of selling the car? So, with a little bit of creative References: wordplay, they came up with a new ad that would 1. HBR grab more attention. It read: 2. Convertise.com 3. Go.forrester.com Illustration 13 4. Edology.com 5. Neurosciencemarketing.com Yes, it is the advertisement for the same car as 6. Blog.crobox.com the previous advertisement. Yes, and this sounds 7. Nudges.org more appealing. A chunk full of misleading 8. Marketing-insider.eu context, but technically they still say its not a lie! 9. www.mbaskool.com It is a creative presentation of information. 10. blog.motivemetrics.com Pretty cool, eh? 11. Activecampaign.com With the ever-increasing competition and 12. www.behavioraleconomics.com struggle for existence, people have become so 13. www.mainstreetroi.com profit-oriented that they have quite easily scraped 14. www.pagewiz.com out Thaler's concept on Nudge where in 15. brandmarketingblog.com reality, Nudge has been 'A way of life' to all of 16. www.tutor2u.net us. 17. www.targetmarketingmag.com Where Thaler had designed this subtle and 18. www.goodreads.com hugely influential concept for the people to 19. Nudge: Improving Decisions about Health, choose what is best for them, just by knowing how they think, the world seems to have taken a Wealth, and Happiness By R.Thaler and C. stance, but for a sad fact, on the wild side. Sunstein Humans, today, have built their profit-oriented 20. Misbehaving : The Making of Behavioral mind bricks in such a way that today, it becomes economics by R.Thaler imperative to question: 21. Thinking fast and slow by D.Kahneman \\\"Why should we care?\\\"To what direction are the people of this generation desiring to swim?What footprints are we setting as ancestors one day where we have decided on being so self-centered and rolling towards what benefits 'us' rather than focusing on lending hands to help each other grow.After all, it all starts making sense once we truly mean when we utter: \\\"We are there for each other,to help each other grow.\\\"Well, that is the essence of marketing too, isn't it?If your customers have success, you will have success. Whether your goal is lower churn, more revenue,","ETHOS The X-Ecutive, Vol. XVI VoVol.asXVIXVIThe X- Ecutive, VoVol.asXVIXVI POLITICAL ADVERTISING ON SOCIAL MEDIA Avnish Khara Introduction Illustration 1 B.Com (M), In the wake of the 21st Century, the 3rd Year most important media for political ads inseminate pieces of information. It St. Xavier\u2019s College has turned out to be social media. does not send ads through a fact- (Autonomous), Gone are the days when political checker or censor any type of ads. Kolkata campaigners flashed the same Facebook believes in simply letting advertisement on the television and all the information flow through Arpit Debuka radio to influence voters who are without any filters or boundaries on B.Com (M), governed by different social and the ethics of this. As such, it has 3rd Year political beliefs. become very easy to inseminate the St. Xavier\u2019s College Different countries have different minds of the population through false (Autonomous), laws on political ads. While some, ads and a process called micro- Kolkata like the United States, have a free targeting. Micro-targeting is a process market, others like the UK and Ireland by which political parties gather huge have prohibited political ads. In amounts of data on voters. This data is Canada, laws have been made to often bought off from data brokers ensure equal access to airwaves. (such as Cambridge Analytica) who Several laws govern how the media track voter habits in the same way as can modify or decide to air a political Master tracks consumer spending ad. Social media platforms like habits. Facebook and YouTube were not This data is then used to analyze what included in the definition of issues are important to specific groups \u2018broadcasters\u2019 until December 2017. of voters. Then begins the work of They were exempt from stating who tailoring ads for these groups of voters was paying for the ads. Disclosures having minute political differences. turned out to be quite important after The data is also synced with the 2016 Presidential Election in the geographic information to map out US was influenced by foreign agents. trends based on locations. This also Companies like Facebook, Twitter, aids the campaigners to visit potential Google, YouTube, WeChat, voters using the shortest route Instagram, LinkedIn, Snapchat, etc. are the biggest players in this regard. Each differs on how they operate and strategize to survive in these times where lawmakers and the people are agitating to bring more regulation impacting how they do business. The Problem The biggest contention by Facebook is that it is a free platform that only acts as a safe space to share and","ETHOS The X-Ecutive, Vol. XVI VoVol.asXVIXVIThe X- Ecutive, audience as compared to VoVol.asXVIXVI Twitter and other social media platforms. Its strengths include not only data of its users but also data of users not on Facebook. Such detailed information is available on the users, that it can easily be used to \u2018micro-target\u2019 voters. This helps campaigners as they can benefit by targeting vulnerable audiences, by circulating false news only among the people who are most receptive to them. Illustration 2 Facebook contends that it is a private organization and it should not be responsible to Facebook and Twitter are 2 platforms that are on censor political ads and act like a fact-checker. the extreme ends on how to tackle censorship of Also, fresher candidates find social media the political ads: full political ads without content easiest and economical way to reach the audience censoring and absolutely no political ads as a way to challenge established politicians respectively. While political ads form a fraction elected in the office. But the problem starts when of the total revenues earned by these juggernauts, the buyer of the ads is from Ukraine or Russia or they argue that it's more about the \u2018principle\u2019 outside the US borders for that matter. rather than the \u2018profit\u2019. Facebook has a broader and more balanced Illustration 3","ETHOS The X-Ecutive, Vol. XVI must also try our best to understand how to separate false information from what is real. VoVol.asXVIXVIThe X- Twitter\u2019s baEncuwtiovuel,d mean that ads on political topics such VasoVcloiml.aastXe VchIXanVgIe or abortion would also be cut. This implies that an oil exporter can flash ads leading to depletion of resources whereas a non-profit organization or grassroots group cannot encourage people to plant more trees to fight climate change. The Solution Illustration 4 According to many experts, the answer lies somewhere in between the two extremes. This References sort of micro-targeting and extreme segmentation 1. https:\/\/www.newyorker.com\/tech\/annals-of- is what is unethical. The social media platforms should reveal the identity of the buyer of the ads, technology\/the-problem-of-political- verify the identity of the ad buyers and reveal advertising-on-social-media publicly, the information on ad targeting. 2. https:\/\/www.cnbc.com\/2019\/11\/03\/facebook- The best solution to the unethical display of ads and-twitter-get-it-wrong-when-it-comes-to- on social media would be a systemic disclosure political-ads.html of all information concerning political 3. https:\/\/qz.com\/1767145\/how-facebook- advertisements. Facebook has its own archive twitter-and-others-approach-political- while Snapchat has a simple downloadable advertising\/ spreadsheet. Google also has an archive which is 4. https:\/\/www.nytimes.com\/2018\/05\/24\/technol quite clunky. A notable observation common to ogy\/twitter-political-ad-restrictions.html all these databases is that there are omissions of 5. Illustration 1: datasets. This points towards a strategized https:\/\/en.wikipedia.org\/wiki\/Social_media_u attempt at hiding certain advertisements that may se_in_politics be unethical in nature. A new feature being 6. Illustration 2: introduced by Twitter involves a specific symbol https:\/\/en.wikipedia.org\/wiki\/Social_media_u beside political ads and specially coded-marked se_in_politics tweets, to distinguish them from other tweets and 7. Illustration 3: ads. https:\/\/qz.com\/1767145\/how-facebook- Facebook is also trying to self-regulate by twitter-and-others-approach-political- opening up a detailed link to each ad, whereby advertising\/ any user can check the details of the ad such as 8. Illustration 4: the source of funding, the account information, https:\/\/sproutsocial.com\/insights\/social- etc. media-statistics\/ Conclusion There is enormous pressure from various lawmakers to introduce regulation, specifically for social media. The advent of social media in the past decade has changed the way we perceive information massively. It is a very powerful tool, and it is also such a nascent technology, that we still do not completely understand the mind-boggling power it possesses. If not used correctly, false information is very easy to spread, and in the wrong hands, it can become a tool for mass hysteria. As consumers of this information, we","ETHOS The X-Ecutive, Vol. XVI VoVol.asXVIXVIThe X- Ecutive, LET\u2019SVoVol.asXVIXVI & CHILL! Sumit Poddar On August 1997, in Scotts Valley, California- the 1st online movie rental B.M.S., 2nd Year merchant of the planet, first set sail to its maiden journey. In April of the next St. Xavier\u2019s College (Autonomous), year, two colleagues at a software development company launched their very own Kolkata beast, with the wild urge to survive on their own. \u201cNETFLIX\u201d too went through a lot of tribulation before reaching the peak of its success. From 2002 when it first came to public, to 2007 when it firmly planted its flag in the digital land- today \u201cNETFLIX\u201d is the sixth largest internet company in the world by revenue. It is the most renowned media-streaming brobdingnagian for movies and TV series, with more than 151 million subscribers worldwide. Like every other successful stories, \u201cNETFLIX\u201d currently has a market capitalization of more than $130 billion. NETFLIX now produces award-winning original content. Its journey from a movie rental company to a streaming and production company is no less than a fairy tale. In India alone, NETFLIX has become a marvel ( not obviously MCU) of the entertainment industry and a world of tranquility for us lazy binge-watchers. This Santa came to our country in January 2016 with lots and lots of goodies for the binge- watchers. Some of the already popular foreign shows are: Stranger Things, NETFLIX also presents a long list of Indian Black Mirror, The Crown, shows. Some of them are: Mindhunter, Sacred Games, Sherlock, Ghoul, Riverdale, Delhi Crime, Brooklyn Nine-nine, Bard of Blood, The Boss Baby: Back in Business Little Things, A Series of Unfortunate Events, etc. Mighty Little Bheem Devlok with Devdutt Pattanaik, Raja, Rasoi Aur Anya Kahaniyaan, Baahubali: Before The Beginning and so on.","ETHOS The X-Ecutive, Vol. XVI VoVol.asXVIXVIThe X- Ecutive, in the journey of .NETFLIX. VoVoTl.haseXVIXVI Mind you, the journey has not been easy from the start. NETFLIX started losing its sleep in India, not because it was Top OTT services of India by their subscribers in millions missing the American weather, but here are many competitors 43 in the market, already way ahead in the game. Some over-the- 2.5 top (OTT) media services like Star India\u2019s Hotstar (now owned by Walt Disney), Amazon\u2019s prime video, Viacom-18\u2019s Voot , 2 1.2 Eros International\u2019s Eros Now and many others like Reliance Jio 0 owned- Jio TV and Jio Cinema, MX player by Times Group, Netflix Amazon Prime Hotstar regional platforms like Hoichoi by SVF Entertainment Pvt Ltd (with love from Bengal), all gift us with much lower subscription rates than NETFLIX. With Hotstar enjoying 3.0 million subscribers in India, Amazon Prime Video is at 2.5 million (not bad!) but NETFLIX is at 1.2 million only. Oh wait! Did you forget the forever popular YouTube, already the biggest racer of this game? With YouTube, Hotstar, Amazon prime if the huge population of competitors wasn\u2019t alone enough to magnify the stress, then comes the recent price hike of the three leading mobile network companies that has led to steep rise in the rates of internet packs. This has given a hard blow to the American streaming company as well. But this alpha geek is not the one to lose hope so easily. NETFLIX has met many cynics throughout its past. However we must not forget, NETFLIX is a name which rules the world. And this experienced brand knows what exactly to do. So definitely it has very well chalked-out its plans that it is currently using to win our hearts, and prove its name. The motive is simple: NETFLIX has to grow and try its best to rope in as many viewers as possible. So what is NETFLIX doing to reach The Although initially in this drive to strategies the top? Netflix is definitely growing increase viewers\u2019 attention and but in some places, the percentage is of not impressive enough to suppress programming, NETFLIX\u2019s expenses concerns on its sound strategy. It NETFLIX plans to spend resources that it were soaring high and some doesn't have to offer today but is customers were scrapped, but now it now fully focused to land enticing is all well-balanced. It is trying to programming and will better think win over people in India through about the bill later. The company unconventional experiments such as kept gaining subscribers faster than expected by investors although the low-cost pricing, where NETFLIX revenue chart is not showing might not be an obvious choice. outstanding marks. NETFLIX is Nonetheless, investors are supporting them actively, and they growing fast enough and prepping expect that this plan will pay off now up for a stronger competition to and then. And believe or not, it is. other Indian giants like Amazon, Hotstar, etc.","ETHOS The X-Ecutive, Vol. XVI in INDIA VoVol.asXVIXVIThe X- The Ecutive, VoVol.asXVmIXaVnI tra of .NETFLIX. to win The \u201cNETFLIX\u201d is balanced on three pillars, which is accelerating its popularity in INDIA: Content is King: Originality of content leads to company\u2019s uniqueness. The only difference between a brand and others is the material it provides to it's customers in the entertainment industry, where NETFLIX too interacts with many companies like itself. NETFLIX has been wise enough to find out about this strategyearlier and began producing its own original content called \u201cNETFLIX ORIGINALS\u201d. Shows such as \\\"Stranger things,\\\" \\\"Black Mirror\\\" and \\\"Narcos\\\" are just the names of a long list of great shows that led NETFLIX to be the company that it is currently. And while talking about our own country, NETFLIX has recently launched a gala feast for us. The \u201cLust Stories\u201d directors namely Zoya Akhtar, Karan Johar, Anurag Kashyap and Dibakar Banerjee are back with Janhvi Kapoor, Sobhita Dhulipala, Sukant Goel amongst others have created an anthology horror film for the Indian audience. A quartet of thrillers \u201cGhost Stories\u201d, is now streaming on NETFLIX from January 2020 (excited huh \u263a!). NETFLIX has not only started to produce shows for the consumers spontaneously, but is also actively engaged in market analysis. Market research is used by the company to understand what their audience craves for, what types of shows \/ content they like and whether they are appreciating the shows already created by NETFLIX. Giving customers what they want is the ultimate master plan followed by NETFLIX to make its fortune. The Boon of Technology: NETFLIX interacts with its audience and renders a fun-filled and exciting journey for its customers. Monitoring your browsing activity in NETFLIX, to how many programs you are seeing at which moment, how often you pause and are missing the start and so on- NETFLIX calculates all of this sincerely. NETFLIX uses all this information to improve the user experience of the customer. Thealgorithm calculated is used by NETFLIX to recognize our personal choices and online behavior; and whenever we log in, NETFLIX sprinkles perfect ingredients to personalize and enrich our experience. NETFLIX will personalize experiences for us with applications such as Optimizely and Adobe Experience Cloud. Such customized content makes each user's homepage look different. The users will see all the shows last watched on their homepage, and it is very much predictable that this in turn boosts their visual experience. The secret sauce of Digital Marketing: Promoting the content will alone take the company a long way. The marketing part only arrives after the content creation is complete NETFLIX has not only made good programs but also used advanced digital media strategies for the creation and maintenance of new customers. Advertising is one of the key elements of NETFLIX's marketing strategy against other Indian companies. NETFLIX spends time to focus on its programming to create strategies to support the TV programs to attract the viewers. For example, in almost every NETFLIX original series, we can see Radhika Apte, a renowned talented face of the Bollywood industry. This offered trollers the chance to mock them because of NETFLIX 's availability of a single popular person to promote its shows Netflix took advantage ofthis opportunity to be part of the discussion and started a \\\"Radhika Apte\\\" campaign for NETFLIX. Clever right? This has made trolling a substantially lovable and for being clever has gained more attention as well. Instagram is the new favorite kid to spread the word and to connect with various types of audience. NETFLIX does not avoid using the same to market it's business. NETFLIX retains casual contact and frequently uses memorandums to maintain a pleasant conversation and communicate with its intended audience.","ETHOS The X-Ecutive, Vol. XVI VoVol.asXVIXVIThe X- Ecutive, The main straVtegoyVofl.NaEsTXFLVIXIXinVInIdia is to grow their streaming subscription business domestically and globally, while providing a user-friendly service, with the goal to expand their streaming service to more mobile platforms while staying within their budget. NETFLIX is working hard to maintain its position in the video-streaming market, to provide a better streaming in mobile forms, to configure a demand system where customers can request media selections and obviously to replace television as primary source of visual entertainment. The target audience of NETFLIX lies mainly in the age group of 18-24 but can extend till 59 i.e., mostly college aged. Therefore, NETFLIX continues to focus on college students and families by showing them what NETFLIX has to offer. Time quality, comfort, low affordable prices and choices are the key needs that NETFLIX suffices. In order to attract rural India NETFLIX is prepping up to create more regional content, and is also creating affordable mobile subscription packs at Rs 199. When it comes to marketing, NETFLIX India has got most of it sorted on its front. Being a globally well-known brand gives them the edge of not going to intense advertising hence the brand prefers pop-up ads, banners, hoardings and other static ads on websites.The brand also promotes its original TV series through teasers and trailers on YouTube and by strategically placing Hoardings on Public places to make people aware of their upcoming productions.Like every other popular brand, NETFLIX too has encountered some sweet arguments with its rivals, on busy social media platforms like twitter. Yes you must have seen this debate on twitter shown in the left. Hotstar surely won this war with 1-0 with it\u2019s final knockout! Brands interacting with each other online is always a good sport and this example shows why. Well the social media managers indeed deserve a promotion, don\u2019t you think? While this war of words is not limited to the wittiest replies, but is loudly felt in various comparative advertisement campaigns, seen especially via memes. And for all NETFLIX lovers out there, allow me to say this confidently that our oligopolist NETFLIX, is giving a strong fight to its opponents through strategic planning, already discussed a little earlier. With global expansion, NETFLIX is confirming its psychic powers. It is not preparing for the immediate future; rather in a relatively new environment it is betting on long-term investments. More and more Indians are getting access to the Internet every year, more video applications and 4G, so India is always online. Hence NETFLIX is now encouraging them to create a local content library, and good news for the audience, NETFLIX India revealed for Indian audiences not one but seven brand new shows! References https:\/\/www.marketingmind.in\/marketing-strategies-using-which-netflix-is-ruling-indian-ott-market\/ https:\/\/www.cnbc.com\/2019\/09\/18\/co-founder-marc-randolph-anyone-could-do-start-up-like-netflix.html https:\/\/twitter.com\/NetflixIndia https:\/\/www.scoopwhoop.com\/entertainment\/best-shows-on-netflix-india\/ http:\/\/heartofcodes.com\/marketing-strategy-of-netflix\/","ETHOS The X-Ecutive, Vol. XVI VoVol.asXVIXVIThe X- Ecutive, THE ONCE LUXURY APP-CABS:VoVol.asXVIXVI THAT HAS NOW BECOME ALMOST A NECESSITY Saudamini Dutta If we rewind time by a decade no one taxis) drivers, while 80 per cent are of 2nd Semester would have heard of what we call an the opinion that app-based Ola and M.Com., \u201capp-cab\u201d today. Back then, the Uber offer better options for travel\u201d.1 St. Xavier\u2019s College concept of a smart-phone was Thus, as we can see, customers are (Autonomous), relatively new too. How did we happy to use these app-cabs. Kolkata manage without a smart-phone? Customers\u2019 tastes and preferences are Today smart-phones are no longer a an important factor that every industry luxury. This increasing popularity of should take into account. No two smart-phones is because of the customers are the same. Now-a-days, numerous advantages it provides us, most organizations talk about one of which comes in the form of maintaining customer satisfaction. various applications (henceforth apps) The logic is simple, keep your installed in our phones. One such app customers happy and your business offers customers taxi service and are shall flourish. Not only is it the popularly called app-cabs.1 Clearly, leading indicator to measure customer there are benefits of using app-cabs. If loyalty and detect dissatisfied one thinks of it, there is considerable customers, but it also is an essential cost involved in owning a personal point of differentiation that helps car, which may not be possible for all, attract new customers. In order to and therefore people depend on public survive in the competitive business transportation services. Taxicabs are world, this simple factor if taken care an eminent part of public of properly is a boon in disguise. This transportation services in cities which is the ace card of the rapidly growing are used by people on a daily basis to online taxi market in our country. commute to their workplace, go out Uber CEO Dara Khosrowshahi said, with their families for vacations or \u201cIndia is a fundamental part of Uber\u2019s shopping, go to the airport, and the growth story. It is among the top 10 list is endless. However, procuring a markets for us globally and we cab for short distances was turning out continue to believe in and invest in to be very inconvenient until a few India\u2026Our business here is years ago. Since the introduction of improving.\u201d1 online taxi services, that is, booking a As a part of catering to customers\u2019 cab through mobile apps, the situation needs and wants, companies have has significantly changed. The online added on more features to their apps. cabs have taken up majority of the As reported in The Times of India, one market share till today. According to a of the leading English dailies in the survey conducted by Mumbai Grahak country, Uber in a partnership with Panchayat (MGP) during 27th to 31st Delhi Metro Rail Corporation August, 2016 it was found that \u201can (DMRC) announced a new public overwhelming 94 per cent of transport feature. The feature is commuters feel they are harassed designed to help customers plan their by refusal of \u2018kali-peeli\u2019 (black-and- transit journey and get real time yellow-painted traditional autos and information about metro routes and times.","ETHOS The X-Ecutive, Vol. XVI even in airports or railway stations. Some of us who are regulars in these areas tend to know the VoVol.asXVIXVIThe X- drivers personally. This gives a sense of security and comfort to the rider. One issue that Uber calls Etchuistivef,eVatouVreol.aassXV\u2018ITXrVanIsit Journey discomforts some people about online taxi Planning\u2019 and this was officially launched in the services is the use of technology. The younger year 2019. Commuters can book an Uber for first generation is tech-savvy and at ease with the use and last mile connectivity and also get walking of smart-phones but that may not be the case with directions to nearby metro stations. This reduces the older generation. Our parents and congestion in the streets and, to some extent, grandparents may still prefer using a non-smart tackles air pollution too. One may wonder how phone. For those of us who do not face much this feature aids in combating air pollution. The trouble with technology and still prefer a answer is simple\u2014the rides are on a share basis. traditional taxi, the reason maybe nostalgia, as If we are to compare yellow taxis and app-cabs, it the protagonist, Devdatto, of the film Maccher is likely that most of us will go for an app-cab. Jhol, says during his visit to Kolkata after many The reasons are many. We can request a ride years. It often comes across that Kolkata is from our doorstep. This is because app-cabs use a known for its iconic Howrah Bridge, the serene phone based GPS (Global Positioning System), Ganges, the colonial buildings, the only running which it uses to track nearby cars and the location tram system in India and last but not the least the of the rider, thereby making it extremely traditional yellow ambassador taxis. Such loyal convenient and less time consuming for the patrons have still kept the traditional taxi commuter. At the time of requesting a ride, the business alive in our country. However, rise in estimated fare is displayed upfront. This avoids per-capita income of consumers has lead to an any potential conflict between the rider and the increase in the usage of smart-phones and the driver due to unexpected higher fares. App-cabs internet in the last few years. Due to this, app-cab also accept different methods of payment. operators have taken the opportunity to benefit Commuters can pay via cash, card and even off the ever increasing technological changes and payment apps such as Paytm. After each ride is overcome the setbacks of the public taxi market completed, the app asks for feedback from the and in turn build their own market share. rider. If there is any grievance, on any issue, the rider can register his complaint. The particular References and Footnotes: company\u2019s customer support team tries to get \u2022 pbr.co.in\/2017\/2017_month\/March\/11.pdf back to the rider as soon as possible to resolve \u2022 The working of app-cabs: The user first opens the grievance. App-cabs offer 24\/7 service, making travel to airports and railway stations fit the app to request a ride. As soon as the user well to a rider\u2019s needs, activities, and plans. selects his preferred size of car and requests Another factor which has lead to the increasing for a ride, the app sends alerts to all the preference of app-cabs is the comfort level nearby drivers available. When a driver provided by the vehicles. Vehicles which are accepts the request, information is exchanged used by the public taxi market are quite old and between both the parties. The user receives not properly maintained in most cases. App- the driver\u2019s name and contact details and the based cabs provide newer and better vehicles car\u2019s registered number. The driver is which have facilities such as, air-conditioning, informed about the location of the user and comfortable seats, Wi-Fi, smart tablet (where the their name. Sounds convenient? It actually is. rider can listen to music of their choice, watch \u2022 business-standard.com\/article\/companies\/80- videos, surf the internet etc.). Occasional commuters-prefer-ola-uber-to-regular-taxis- discount coupons shared by app-cabs are also an survey-116092100829_1.html attractive feature which has made customers \u2022 https:\/\/timesofindia.indiatimes.com\/city\/delhi happy. Having said that, there are many of us, \/will-continue-to-invest-in-india-uber- who still feel comfortable hiring a traditional ceo\/articleshow\/ yellow taxi. Let us take a look into some of the reasons why. We often see that yellow taxis are parked near busy streets, in front of hotels and","ARUNACHALAM THE MAN BEHIND SANITARY NAPKIN REVOLUTION IN INDIA Education is considered to be How did you overcome the the end severed a larger of paramount importance. backlash that you initially purpose. Many believe that lack of received due to the taboo Do you think the movies education impairs a person. that surrounds the topic of \\\"Padman\\\" and \\\"Period. End You are a school dropout, did menstruation and what moti- of Sentence.\\\" helped in that a\ufb00ect your journey at vated you to keep going? spreading the message all? I worked on engineering plat- and making people aware No. Education and knowledge form. I know even if I fail 9999 of the age-old \\\"taboo\\\"? aren't same. Being uneducated, times, if I turn a blade I could Yes, the movies are watched I could happily say I don't know succeed. This kept me going. by millions of people. It and learn more things and do Sanitary napkins were helped spread awareness things. exempted from taxes last among people. year, what are your views on One moment you it? Do you think it was a posi- witnessed that kept you tive step taken by the gov- motivated through the ernment as it made sanitary struggle and made sure napkins more a\ufb00ordable for you don't give up? women all over India? A woman said my child has Yes. Lot of governments are started going to school after taking steps to spread men- using pads. strual hygiene awareness. And According to you, what is it was a good move. the importance of social entrepreneurship for an Why did you refrain from economy? commercializing your ven- Social Entrepreneurs are ture through corporate enti- impact creators. They solve ties, even when the idea problems that bene t the became a proven success? world and also themselves. My concept is impact based.. not revenue based. Lastly, what would be your What personal sacri\ufb01ces did message for the students you have to make for the of St. Xavier's College furthering of this cause and (Autonomous), Kolkata? journey? Don't use your education I had my wife, mother leave me. just as a tool to survive. Use your education to do some- Village chased me out. All thing to transform the these sacri ces in world.. 89","BAE RED BUS OYO ZOMATO WHAT IS BAE? Earlier, in India, A pre-money Deepinder Goyal, getting hold of valuation above $4 who studied at IIT The \u201cBefore Anyone Else\u201d bus tickets was a explanation of bae could be what herculean task. billion puts Oyo, Delhi, and co- is sometimes referred to as a Incorporated in 2006, founded by 24-year- founder, Pankaj \u201cbackronym\u201d or a false acronym, \u2018\u2019RedBus\u2019\u2019 changed old college dropout- Chaddah created a word given a fake back story as the way people Ritesh Agarwal, in an acronym to make it seem more booked bus tickets. 2014, in a league of Zomato, the interesting. While the acronym Red Bus was no most-valued Indian first ever food might be false, in our version less than a blessing internet companies application in of BAE we have tried bring out for a common man behind Flipkart ($20 India, with the original stories of individuals and as it gave them an simple idea to help businesses, who were pioneers option to book bus billion) and Paytm people discover in their respective fields and have tickets in advance. ($10 billion). It is good places to eat made remarkable developments The application is the world\u2019s third- around them. Today, since then. They brought in novel easy to use and largest and fastest- this restaurant ideas before anyone else and makes commutation growing hospitality search service ever since, have enjoyed the first chain of leased is spread across convenient. and franchised more than two lakh mover advantages Mr. Phanindra, restaurants, across Sudhakar, and hotels, homes 41 cities, in 12 Charan are the co- and living spaces. countries. Zomato\u2019s founder and CEO application, of RedBus that has Oyo allowed available on now reached a level customers to book all smartphone where its revenue platforms, allows is above $12M. rooms within a users to search for Currently, RedBus few seconds. It restaurants based with its business logo started as a hotel on keywords and is considered to be aggregator and geo-coded maps, one of the fastest used to lease some as well as providing growing Indian web rooms and sell them information such as startup \u2013 thanks under its brand how expensive a to its outstanding name. However, restaurant is, what service, especially to it changed its dishes it serves, bus travellers. business model whether one needs from the aggregator a reservation or not, 90 to the franchise and crowdsourced model. It made reviews. They plan hotel booking easier to take Zomato to 22 and affordable for new countries in the next 24 months. everyone.","SULA VINEYARDS DESIGNHILL.COM WEDDING CRAFTSVILLA SOCIALBLOOD DESIGN COMPANY In 1999, Rajeev \u2018\u2019Designhill.com\u201d The company Craftsvilla was Socialblood is Samant established is one of the first began around 28 online crowdsourcing years ago, when co-founded by a Facebook Sula Vineyards, Vandana Mohan Nashik\u2019s first winery platform that became India\u2019s Monica Gupta. application that and paved the way helps business or first woman event for the emergence entrepreneurs find manager by starting It is a leading connects blood graphic design artists her own company, of India\u2019s Wine for hire. It is world\u2019s ethnic online donors and Capital, with almost Backstage fastest-growing Productions. When platform in India. recipients of the 35 other wineries custom graphic she launched her following suit in design marketplace company in 1989, The brand was same blood type the region over the event management next decade. Today, connecting co-founded with through Facebook. Sula is leading the professional graphic was not popular, charge of Indian but she was a vision to create Socialblood wine across the wine designers with determined to world. Mr. Rajeev clients looking to a platform where has created a Samant firmly source high quality take that risk. The believes in being a graphic designs company started off underprivileged social space for steward of the land at considerably and in sustainable affordable prices. as a six-member, artisans can make thousands of business practices. In the year 2014, in all-women team. Under his guidance, New Delhi, India, Few years into the a living by selling potential blood Sula is one of the business, she had most eco-friendly Designhill was her hands full doing their handcrafted donors and companies in India started by Mr. Rahul corporate events and ensures fair and luxury brand products. With recipients to meet livelihoods for Aggarwal and Mr. launches. She later Sula\u2019s community Varun Aggarwal with took up wedding over five million and potentially of farmers across planning. Today, Maharashtra and the sole mission products to choose donate. Karthik Karnataka. This to change the way Mohan makes has been nothing how design industry weddings a dreamy from and 30,000 Naralasetty started short of a revolution works by launching in the surrounding a marketplace that is affair for Indians plus sellers on Socialblood in 2011 villages. From being specifically based on across the world the leader in the the design industry. and has to her board, Craftsvilla with an objective to business to ensuring Today, the company credit some very societal growth Sula has expanded to high profile clients. provides an array save lives. In the has been doing two more locations, everything right. such as, Gurgaon, 91 of ethnic products seven years since, India and Delaware, directly from he has successfully United States. the designers created impact in and artisan at a the lives of three wholesale rates. lakh people, not just The business has in India but across a dual impact, it the globe. provides effective employment and ensures cultural enrichment and enhancement.","KULDEEP Kuldeep Yadav represents India in all three formats You\u2019ve played T20 cricket under The IndianTeam\u2019s renewed of international cricket, some of India\u2019s most successful focus on batting depth has and also plays for the captains in the format- Gambhir, led to recurrent instances Kolkata Knight Riders Dhoni, and Kohli. Whose captaincy of only one between in the Indian Premier do you feel is most appropriate Chahal and you making it League. He is renowned for an attacking wrist-spinner like to the playing XI. Would as an exponent of the rare you? you want to improve your skill of left-arm wrist-spin batting in future to offer bowling, and is among See everyone has their own style of an all-round option to the the best spinners in the captaincy, I\u2019ve been fortunate to have played team? world of cricket today. under them and have learnt a lot in the process. Gauti Bhai I\u2019ve It\u2019s obviously very competitive but The rareness associated only played under in whatever works best for the team. with chinaman bowlers T20s, Mahi Bhai I\u2019ve It\u2019s not easy to pick up batting, we was one of the reasons not played under try to do our best but at the same for your uniqueness much. So it\u2019s not time it\u2019s also important to focus initially. How do you keep fair to choose. on your strengths. adding variations to stay relevant? Social media has named your spin duo with Chahal Cricket is becoming tougher for as \u2018KulCha\u2019. Till now, how the bowlers I feel, the batsman has your experience are being able to read better so it\u2019s important to adapt and add been working with him? variations. It\u2019s been amazing, we have a Which moment of your solid chemistry together. He\u2019s career so far has been also older to me, so I get to the most memorable learn a lot from him. Really one and why? enjoy the partnership on I think my test debut was the and off the field. We keep most memorable, my father\u2019s complimenting each other dream was to see me and learning at every stage. playing for the country and that day I was happy that after all those hours I\u2019ve finally achieved it. 92","YADAV You\u2019ve often mentioned How challenging how special it is to is it for you to represent KKR. What adapt to playing sets it apart from other all three formats franchises? of the game? I think the love and affection It\u2019s obviously difficult, of the fans, it\u2019s always an we\u2019re playing cricket amazing feeling to play round the year and at Eden in front of such a adjusting to different loyal and passionate crowd. conditions is a The owners and other challenge, but over stakeholders have also always time you get used to ensured we are looked after it. well, so it all really adds up. Having already become one of India\u2019s premier spinners, what is your next major aspiration? Keep giving it our best for the country, and hopefully win as much as possible whatever be the condition. What message do you Khauuldlseeinpaisllotnhereoeffoonrmlyathtsr.ee spinners to have claimed five-wicket want to convey to the wAmickoentgs,Inhdaivainngspaicncobmowplleisrhs,ehdethisetfheeaftaisntehsist e5v8ethr tionntainkges1. 00 ODI students who want He is the first Indian to have taken two hat-tricks in international to pursue sports as a cricket` career? 93 My main message would be don\u2019t be afraid to go after your goals, it may be difficult but have the confidence to back yourself, put in great amount of hardwork since there is never any substitute and be true to yourself.","PEUGEOT SOCIETE ANONYME & FIAT CHRYSLER French car manufacturer PSA THE WALT DISNEY COMPANY & and its US-Italian rival Fiat 21ST CENTURY FOX Chrysler agreed on the terms of a merger in December 2019 to The Walt Disney Company service Disney+ launched in create the world\u2019s fourth largest acquired 21st Century Fox at November 2019. Meanwhile, automaker, ranking behind $71.3 billion in March 2019. The Fox Corp became a standalone Volkswagen, Renault-Nissan- agreement bolstered Disney\u2019s company that owns its Mitsubishi and Toyota. The collection of characters and broadcast network comprising PSA-Fiat Chrysler tie-up would stories to put the company in a of the Fox News Channel, Fox have a workforce of 400,000, strong position to compete with Business Network and Fox total revenues of close to $190 the likes of Netflix and Amazon million (170 billion euros), through its own streaming Sports. annual unit sales of 8.7 million vehicles, and 3.7 billion euors in estimated annual synergies as cost savings. The joint entity aims at utilizing the pooled resources for a smoother transition towards cleaner and more sustainable mobility. GOOGLE & LOOKER IBM & RED HAT Google shelled out $2.6 a promising business billion to acquire analytics intelligence platform in Tech giant IBM acquired Red startup Looker and Looker is an important Hat, an open-source enterprise expand its cloud services. step in the company\u2019s software maker, at $34 billion Google Cloud stands at endeavour to gain an in July 2019. Having struggled third place in the cloud edge over competitors like through a multi-year revenue infrastructure market, Amazon Web Services decline, the management of IBM and the acquisition of deemed the acquisition of a related and Microsoft. company as a viable option to rival Microsoft and Amazon in the cloud infrastructure business. 94","SAUDI ARAMCO & SABIC ARCELOR MITTAL & Saudi Arabia\u2019s national oil ESSAR STEEL & company Saudi Aramco agreed NIPPON STEEL to acquire 70% of Saudi Basic Industries (SABIC) at $70.4 billion. The deal was announced in March 2019 and is intended at diversifying Aramco\u2019s business from just oil to petrochemical products, which shall subsequently boost profits. Saudi Aramco and SABIC have petrochemicals production capacity of 17 and 62 million tonnes per year, respectively. ArcelorMittal, the world\u2019s biggest steelmaker, in a joint venture with Nippon Steel Corporation, completed the acquisition of Essar Steel India Limited at INR 42,000 crore, in December 2019. Essar Steel\u2019s production at the plant stood at 7 million tonnes in November 2019, and the deal would culminate ArcelorMittal\u2019s decade-long effort to establish a ME&RAGQERUISSITIONSmeaningful presence in India. ZOMATO & UBER EATS Zomato acquired Uber Eats India, the food delivery subsidiary of ride-hailing giant Uber in January 2020 for \u20b92485 crores ($350 million). The deal would fuel Zomato\u2019s quest to consolidate its supremacy over Swiggy in the Indian market by securing a 50-55% market share for the combined entity. As for Uber Eats, the development culminated a period of sustained struggle on the back of a lacklustre IPO in May 2019 95","OCTOBER SEPTEMBERFT IINM2A0E1N9LC-2II0NA20EL DECEMBER Repo Rate Cuts Corporate Tax Rate Cut US-China Trade War: Preliminary The Reserve Bank of Indian Finance Minister Nirmala Sitharaman Trade Deal India slashed Repo rates announced the reduction of corporate by a total of 135 points tax rates to an effective 25.17% from the A trade war spanning close in 2019, capped by a prevalent 35%, resulting in the biggest 25 basis points cut in point-wise jump for benchmark indices in 10 to 18 months between the October, the fifth instance years, as SENSEX and NIFTY rallied about two largest economies of the of such a decision in 3,000 and 1,000 points, respectively, within world - the United States and the year. The measure two sessions. The government slashed the China came to a temporary is aimed at boosting corporate tax rate to 22% from 30% for halt in December as they economic growth and existing companies, and to 15% from 25% agreed to sign a preliminary increasing liquidity. The deal as a first step towards policy rates stand at a for new manufacturing companies. the resolution of the dispute. The Phase One Deal will decade low of 5.15%. MAJOR EVENTS witness billions of dollars in THAT SHAPED THE the currently prevalent tariffs FEMBARRUCAHRY- FINANCIAL SPHERE removed or imposed at a later date. With the agreement yet Global Stock to be signed, uncertainty still Market Crash looms over the future of the tussle which global financial In response to the coro- institutions believe to have navirus (COVID-19) pan- decelerated the wheels of the demic which disrupted travel, rattled supply economy. chains and plummet- ed commodity prices JULY- globally, stock markets SEPTEMBER worldwide reported their largest one-week DECEMBER GDP Growth Rate at 6-year low declines since the 2008 financial crisis. The Saudi Aramco: India\u2019s GDP growth rate for the September plunge commenced in World\u2019s Biggest-E ver IPO quarter slumped to 4.5%, the lowest in over the last week of Feb- six years, the effect of which is reflected in all ruary, and led to mar- Saudi Arabia\u2019s colossal state-owned spheres of the economy -which is experiencing kets across the world oil company, Saudi Aramco, priced a slowdown- and a fall in demand of Goods becoming extremely its initial phase offering at a level that and Services, which has led to a decline in volatile in early March. would surmount to raise $25.6 billion, manufacturing activities. The GDP growth stood As of the end of March, and valued the company at $1.7 billion, global stocks witnessed making it the world\u2019s largest IPO. The at 7% for the corresponding quarter in 2018. a downturn of at least amount raised would beat the $25 billion 25% during the crash, raised by Chinese online retail company AUGUST- and 30% in the major- NOVEMBER ity of the G20 nations. Alibaba in 2014. Analysts believe it to be the onset of the deepest WeWork\u2019s Journey From A Lucrative IPO To A global recession ever, Restructuring and expect it to surpass the magnitude of the two WeWork, an American commercial real estate company, filed an IPO in August only to cut down the company\u2019s valuation next month to $10 world wars. billion from $47 billion. In October, WeWork was taken over by its biggest investor- Softbank, which gave the company\u2019s co-founder and CEO Adam Neumann $1.7 billion to step down from the WeWork board. Softbank assigned WeWork a $5 billion valuation and by November, the startup laid off 2400 employees. 96","We ienxtphloesrfetirnasatoenmgciieaeslowffotohrrelmduawnrhkcioecnthvpaeacnrtttiiacoisnpaiamlntptesor.mrtasnutsed Cockroach Theory This theory states that when a company reports adverse news to the public, it indicates the potential onset of more such news. The theory is also applicable to sectors; such that if one particular company is in trouble, others in its sector are expected to follow suit. Dead Cat Bounce A short rally in the price of a stock on the back of a sharp decline is often referred to as a Dead Cat Bounce. It is also applicable to a market trend which showed prolonged signs of deterioration followed by a sudden improvement. There\u2019s a popular investment saying: \u201cEven a dead cat will bounce if its dropped from high enough\u201d. One Night Stand Investment When an investor buys a share, intending to hold it for the long term, but ends up selling it the very next day - it is referred to as a one night stand investment. This can occur because of fear, regret, or panic, and can possibly lead to short term losses. Pac-Man Defense The Pac-Man defense is a tactic used by a business targeted in a hostile takeover situation. When a company is being targeted for a hostile takeover, the target then turns around and tries to acquire the business that triggered the hostile takeover in the first place. Sleeping Beauty Companies that are great candidates for takeovers. Despite the company being profitable, this is usually because of impressive assets or intellectual property coupled with poor management. Suicide Pill This refers to any tactic that can prevent the death of a business through a takeover. Issuing extensive debt is one kind of suicide pill, and so is offering shares at a discounted price to devalue the company. A company usually takes a suicide pill when it would prefer to go bankrupt instead of undergoing a hostile takeover. Tip From A Dip In other words, it describes insider trading. This is financial advice from someone who claims to have confidential information that could impact a share\u2019s price. 97","ETHOS The X-Ecutive, Vol. XVI VoVol.asXVIXVIThe X- Ecutive, VoVol.asXVIXVI THE NEED TO FIX AN UNGENTLEMANLY GAME Devansh Agarwal Since its inception, the game of periods of a match are usually B.M.S., cricket has been regarded as an elite sufficient in order to effectively fix 2nd Year sport due to it being associated with the entire duration of a match. Before St. Xavier\u2019s College upholding of the foremost values by delving into the mechanism of the (Autonomous), the classes. Unfortunately in recent cricket betting process, it is worth Kolkata decades, the gentleman\u2019s game has wondering why cricket is such a witnessed its honour being questioned convenient target for the act of fixing. far too many times for its liking, and Unlike most other sports, cricket while acts such as ball-tampering and comprises of dynamics that vary on-field misbehaviour have significantly within the course of the contributed to the game\u2019s disrepute, at same match, and despite being a team the forefront of cricket\u2019s ignominy game, at a given point of time the remain its recurrent trysts with match- proceedings are primarily controlled fixing and spot-fixing. The instinctive by the bowler and the two batsmen at reaction of the media and the fans is the crease. The myriad of to bemoan the player involved for complexities within the rules of the disregarding the sanctity of the game game further augment the scope for and also bringing disgrace to their scripting outcomes that would look team and country alike. But the like mistakes; a bowler can concede question is, do the players really runs through no-balls and wides deserve to be singlehandedly blamed without the intervention of the for indulging in such an act, or is batsman, misfields and dropped there a deeper issue that conveniently escapes scrutiny in every fixing Illustration 1 episode? Firstly, it is imperative to recognize the origin of the concept of fixing, which is cricket betting. Betting is illegal in many countries across the world including India, yet an extensive network still prevails under the nose of the law. When the stakes are high, as they usually are for T20 cricket and high-profile international matches, bookies and their customers seek assurance of a return on their investment, and hence resort to pre- determining the outcome of distinct passages of play in a match through spot-fixing. One doesn\u2019t need the entire team to be on board to execute these \u201cspots\u201d; 2-3 players from varying skillsets to cover different","ETHOS The X-Ecutive, Vol. XVI are some websites that exist as advisory VoVol.asXVIXVIThe X- platforms, and claim to not take bets but help get in touch with international online bookmakers. catches are eEacsuytitvoe,faVkoeV, owl.hasilXeVbIaXtsVmI en can alter Using these websites is as simple as online their approach to an innings under the mask of shopping. One can choose which match to bet on, adapting to the pitch and bowling. and gamble on not just the result but possibly So how exactly is the process of betting every facet of a cricket match, be it the toss, the conducted? Offline betting, which constitutes bowler\u2019s economy rate or a batsman\u2019s likelihood majority of the betting network in India, is done to score a century. Naturally, these are the aspects by punters and bookies through a platform in that serve as bases for spot fixing as bookmakers which a communicator box with several phones intend to maximize their gains through pre- connected to it is used in a conference mode by determined results. the bookie, who is in contact with his punters on Not that the players aren\u2019t made aware of how a real-time basis during the course of a match. they are supposed to handle fixing approaches- The bookie in turn relies on any mobile app, the International Cricket Council through its website or live commentary mobile phone connection for information of the weather, team composition and match scores. Illustration 2 Meanwhile, online betting is gaining increased Anti-Corruption Unit conducts extensive traction among the youth due to its convenience workshops for player education to teach them the of being accessible through smartphones. While ideal protocols for such situations. The problem, betting or gambling is illegal in India, there is no however, is that while the established members of such law for online betting, and this loophole the team would respect the \u201cdos and don\u2019ts\u201d as allows offshore companies to lure Indians to bet laid out in front of them, for fringe players who through their medium. No specific law bans a rarely get opportunities in the squad, the prospect customer from placing an online bet with a of an innocuous act earning them more than they bookmaker based outside India, and this hinders would ever make playing the game induces them the Indian law\u2019s ability to hold that customer into wrongdoing. For example, in the IPL, guilty if the laws of the country where the domestic Indian players are attractive targets as website is hosted, permits online gambling. There they are relatively na\u00efve and easy to entice into"]