Business Strategy E Magazine - October 2022

www.bizemag.com

Indian Rupee is the New Trade Settler

Vaneeta Aggarwal Founder & CEO

www.bizemag.com www.Lstrategy.com

Disclaimer - The Magazine producers and editors are not responsible for any views, opinions and information provided by the writers. The content produced here is copyright of Business strategy e-magazine and cannot be reproduced in part or full form without official approval. Any graphics depicted within the magazine are solely for symbolic representation and are taken from stock free options.

The Indian Rupee can now be used for settling International Trades. The Reserve Bank of India, in a current policy amendment, has announced one of the life-changing policies for Indian overseas trade. The RBI will now allow several authorized Indian banks to settle payments and invoices in Indian Rupees. Lubricating Indian foreign trade and marking the Indian rupee as a global currency is an active step of the RBI. The RBI-authorised Indian banks will now be capable of opening the Vostro accounts of several international trade partner countries of India that will facilitate the transaction of trade in Indian rupees.

Indian importers can now make payments in Indian Rupees o9donestic currency) to the Vistro accounts of the foreign countries in India. Similarly, when exporting products, the international countries can deposit money in these Vistro accounts, and the Indian traders will get the money in their own currency. This will surely improve International trade in India and facilitate a smooth and hassle-free cross-border busines operation. The Directorate General of Foreign Trade (DGFT) has reduced the process friction. Economists believe this is one of the most significant steps in today's betterment of Indian trade relations with partner countries abroad.

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Dr.

Bizemag Leadership Summit & Awards 2022

The Bizemag leadership summit & awards 2022 celebrated their continued excellence with organizing a start-up & investor seed funding round and Recognition for Upcoming 2022 Business Leaders amidst the world economy resurging from the COVID-19 health-crisis, innovation and businesses.

The Bizemag Leadership Summit & Awards 2022 on the 9th of September celebrated excellence and innovation in business. The Awards summit has grown to be a major event in the Indian business calendar and for Bizemag it is an essential part of its mission to nurture and celebrate business talent and leaders along with a fruitfull investor-start-up thriving pitch presentations.

“We need to celebrate and showcase the exceptional success stories of Indian businesses” says Dr. Vaneeta Agarwal, CEO at Bizemag. “Such events not only inspire business leaders to push the boundaries further but also gives hopes to the aspirations of thousands of budding entrepreneurs.”

The whole day event was illuminated by the gracious presence of several dignitaries and

industry stalwarts. Angel Investors, Academicians and business founders attended the event making it not only a platform to showcase about a dozen of powerful start-upspresenting business excellence and innovation for seed funding. The event also acted as a great networking opportunity.

Keynote speaker sessions:

Notable business and academic leaders expressed their opinions on different aspects of entrepreneurship and start-ups development at the event. The event inaugurated with welcome to chief guest, Dr. V Ramgopal Rao (Former Director, IIT-Delhi). He spoke on various aspects of role played by Indian Institute of technology in shaping the tech/non-tech start-ups by its students.

The list of other keynote speakers includes:



CA Mohit Singhal (Chairman, ICAI, Gurgaon Chapter) – “Managing Start–up Finances”

The notable awardee list includes many Young Turks of Indian Business like: 



Mr. Neeraj Saxena (Angel Investor, Managing Director of Xscale and Univision Fund) – “How we scale up SaaS Businesses”

Mr. Hamsavardhan Mohan’s Baruch Business Solutions, (Tamil Nadu)–Bizemag Award for Best Emerging Company of 2022 

Dr. Neeta Pant (Gurgaon) –Bizemag Woman Achiever of the Year 2022

– Bizemag Healthcare Excellence in 2022

Mr. D Stanley Daniel (Managing Director, Medi Events, Tamil Nadu) – Bizemag Leader of Excellence 2022



Mr. Amit Narang (Founder & CEO, Paymart India Pvt Ltd) – “Start–up to Success – An Entrepreneurial Journey”

Mr. Utsav Malhotra (COO – Noise, Gurgaon) – Bizemag Business Icon of The Year 2022

Mr. A Hakim Peer (Founder – Nourishment for needy trust, Tamil Nadu) – Bizemag Leader of Excellence in Social Work in 2022

Mr. Protyush Mukherjee



Mr. Hamsavardhan Mohan (Managing Director, Baruch Business Solutions) : “Becoming Industry leader in Healthcare – IT & Future Plans”

Mr. Siva Ganpathy Subramanian M (VP, Searce Ltd, UK)– Bizemag Leader of Excellence 2022

R V Satheesh Kumar (RV Strategies, Tamil Nadu)

– (VP Operations, Group L Services Pvt Ltd, Kolkata) – Bizemag Leader of Excellence 2022

Ms. Sheena Kalenge (Principal, ST. Mark’s World School, Delhi) – Bizemag Best Education Leader of the Year

The awards were facilitated by Dr. Vaneeta Aggarwal, Founder of Bizemag Media and Mr. Manoj, Founder of iAcuire Consulting LLP.

Angel Investor – Start-ups Pitch Presentation

Round :

The Post-lunch session included addresses by prominent angel investors like NeerajSaxena& Anshul Saxena fromXscale & Univision Fund and Pradeep Shukla along with Sumit Chakraborty from Primo Group.

“The summit was a resounding success with the participating startups showing great promise and pointing towards a bright and innovative future of the entire industry. Further lauding the industry stalwarts who were a part of the event would give them impetus to carry on with their excellent work,” Vaneeta Agarwal signed off.

One of the leading start-ups, Teknofeet’s founder Mr. Moammir Qazafi commented that unlike other award ceremonies, Bizemag event was very cohesive and power packed with knowledgeable sessions by very educated industry leaders.

The several start-ups which presented pitch deck at the event for seed funding and accelerator funding are :

How Indian B2B SaaS startups can expand to Global Markets SaaS

The Software as a Service (SaaS) is growing at a fast pace in the Indian startup ecosystem. There are seven SaaS unicorn companies in India leveraging the potential of the domestic market. The lucrative opportunities in India are highly driven by digitization among traditional corporate houses. According to a Nasscom report – the domestic market for SaaS is likely to grow 6X to reach $13-15 billion by 2025.

On the other hand, when SaaS B2B startups witness growth, it becomes increasingly important for them to look for international expansion opportunities. Many startups are getting an overwhelming response from developed countries like the US. According to the stats –SaaS startups are projected to capture 7-9 percent of the global market by 2022.

Witnessing the lucrative opportunities that SaaS startups are capitalizing on, they can boost revenue growth in international markets. Today, SaaS companies are built on cloud systems that are scalable and accessible to users across domestic and international markets. Many SaaS startups easily build a global audience, however, that does not necessarily mean their business is ready to go global. It is imperative to consider a few essential factors in mind while planning and executing a global expansion plan.

Checklist to expansion readiness

Expanding to international markets presents unprecedented growth opportunities to B2B SaaS companies. The entire world is moving towards digital disruption that opens a myriad of avenues for SaaS startups to attain sustainable growth in international markets. Before working on a global expansion plan or strategy, B2B SaaS founders should prepare an expansion readiness checklist to understand if their business is ready to expand internationally.

The founders need to identify whether their startup is solving a problem on a global level or if there is a global pull for their solution. Apart from this, if the startup is a product-led repeatable business in all markets, they need to work on a more streamlined expansion strategy. These things often depend on the market in which the SaaS startup is planning to enter or the right time is to expand in the startup’s home region first.

Clear GTM (Go-to-market strategy)

A robust go-to-market strategy is a must for the expansion of any B2B SaaS startup. According to a study by Harvard Business School – 95 percent of new products launched every year fail. Considering the failure rate, it is in-

creasingly important for SaaS startups to have a refined GTM strategy before stepping into a new international market.

A strong GTM helps SaaS founders to avoid mistakes in the initial phase itself and gives them direction to increase the chances of a successful international presence. It needs to have important attributes encompassing the geographic reach and customer segments. Additionally, it helps the founder identify the right product-market fit, allowing them to avoid over-

saturated markets for their business expansion.

Sales technology

SaaS companies are based on subscription-based business models. This requires extensive knowledge and effort in figuring out the sales technology that SaaS startups need before moving forward with global expansion. It plays a critical role in remote demand generation by measuring and targeting desired customer segment. Since SaaS startups leverage the use of advanced technology, they

need to have new-age digital tools to ensure demand generation.

Digital tools like CRM and lead generation are essential for B2B SaaS startups to grow their sales in international markets. Apart from this, Data warehouse, CDP and Marketing automation embedded with advanced analytics can be a game-changer for any B2B SaaS Startup. These tools can help in expanding the targeted reach and nurturing, leading to an exponential jump in sales performance.

B2B

$

€

%

Exploring sales channels

There are different routes to entering into new markets. SaaS startups must identify the right approach to expanding their business internationally. For instance, founders can opt for a direct route by setting up a new regional HQ in the targeted market. The other one of the most common routes is acquisition. A B2B SaaS startup can acquire a business in the region to establish its presence in the planned global market.

On the other hand, reseller partnerships are also gaining traction among startups planning for global expansion. They can join with a trusted partner can bring their SaaS product to the new international market. Apart from this, SaaS startups founders can expand through remote channels by keeping their team in the home region while expanding their marketing and sales to global markets.

Whichever route the SaaS startups adopt, it is practically important for them to align with the market’s time zones, culture, local laws and regulations and price sensitivity of the market.

Takeaway

Every B2B SaaS startup has its own path to grow and expand. However, when it comes to international expansion, the startup needs to explore tried and tested ways to globalize. To capture the market opportunity, it should create winning strategies and execution plans to become the next big SaaS startup globally.

By Neeraj Saxena Managing partner, Xscale

https://www.linkedin.com/in/neerajsaxena/ WWW.xscaleglobal.com

As organizations have changed over the course of the hundreds of years with progresses in innovation, so have the devices and methods that organizations use to showcase their items and administrations. Promoting, in its earliest structure, was essentially about conveying the highlights and advantages of the items or administrations that were being sold.

In the mid 2000’s, be that as it may, the development of data innovation prompted the advancement of Marketing 2.0. As it became simpler to target purchasers in view of division and personalization, the focal point of showcasing moved from the item to the customer.

Promoting efforts turned out to be more centered around who the shopper was and what they needed instead of on the highlights of the item. In the beyond twenty years, the fast walks in innovation have prompted fast changes in promoting as well, and advertising has rapidly continued on toward showcasing 3.0 and all the more as of late promoting 4.0.

7 Steps for Building an Online Community

Building a web-based local area is an important showcasing methodology. The brand with a web-based local area giving them consistent input to work on their duplicate and item will enjoy a colossal upper hand over the brand attempting to assemble center gatherings or client research.

However, that doesn't mean it's a hard interaction. Local area stages (counting informal organizations) are in full help of these networks and have made it simple to make a local area for your image. The majority of the work behind building a local area is in sorting out its motivation and the way that you will advance it.

Here are the 7 moves toward fabricate your own web-based local area.

Recognize key partners for the internet based local area.

1. Characterize the reason and objective.

2. Select a local area stage.

3. Construct a part profile.

4. Foster standards and standards.

5. Set up your local area.

6. Recognize key partners for the web-based local area.

7. Advance your local area.

Promoting 3.0 vs Marketing 4.0

With the development of virtual entertainment and the change of the Internet, advertising 3.0 came to fruition. Promoting 3.0 is for advertisers to transcend how their items or administrations will serve purchasers and on second thought center around buyers' human spirit - by focusing on and working for social, monetary, and natural causes in manners that would contact clients' spirits.

Showcasing 3.0 is tied in with "going past clients' material requirements and wants towards what moves them at a human level", and to as needs be adjust brand technique. Throughout recent years, Marketing 3.0 has been broadly taken on by organizations across the world and has shown to find success.

As the advanced economy blasts and troublesome innovations like IoT (Internet of Things), cloud tech, 3D printing, and portable web take steps to impact how business is finished across ventures, Marketing 4.0 has additionally shown up. Showcasing 4.0 arrangements with what versatile web is profoundly meaning for shopper conduct and how organizations need to adjust their promoting methodologies despite fast mechanical progressions.

Even with new specialized strategies and a consistent siege of data, the test for brands is to keep a brand voice that feels extraordinary and real: this is a brand's most important

resource in an undeniably straightforward and associated world.

The other significant component in Marketing 4.0 is that promoting efficiency is expanding as associated gadgets become more pervasive on the backs of online reasoning and loT.

In any case, this should be supplemented by human-to-human network to reinforce client commitment for a promoting technique to be genuinely compelling.

Online people group: a need for the present organizations

Promoting 4.0 discussions about moving from conventional ideas of showcasing, similar to division and focusing of clients, to a more client local area based approach.

Since innovation headways have made individuals all around the world more associ-

ated, organizations' promoting cycle currently needs to consolidate input from and commitment with clients who are presently between associated through web-based networks.

One more viewpoint to this is that clients likewise request a seat at the table at this point. With quick patterns of development and innovation drove interconnectedness, clients likewise need to be a piece of significant choices with regards to their number one brands. Brands that don't use this through internet based networks risk losing likely business.

At last, 53% of brands say that web-based entertainment is a top driver with regards to client commitment and brand building. This is two times as much as email and 4 fold the amount of as a conventional site.

In 2016, Facebook had the most noteworthy client entrance rate at 63% and a 15-day commitment rate, Instagram followed at 27% with a 11-day commitment rate, Twitter at 25% with 7.5 days, and Google+ at 17% with 3.2 days. To this end research shows that 81% of organizations in 2015 had local area type support channels, up from 67% in 2012.

Advantages of online networks

Having dynamic and drawn in web-based networks has a few significant advantages for brands. Ceaseless improvement of item and

client experience because of speedy criticism

Online people group give clients a voice. Any new element or item that a brand dispatches finds close moment input through dynamic internet based networks. This abbreviates patterns of development and assists organizations with making enhancements rapidly, particularly with regards to advanced items. This further develops client experience dramatically.

It is

a lot more

straightforward to Measure consumer loyalty

With a functioning internet based local area, estimating consumer loyalty turns out to be a lot less complex.

By utilizing on the web surveys or subjective studies, brands can quantify consumer loyalty levels. This applies not simply to consumer loyalty of the item or administration all in all, yet could likewise apply to explicit highlights or changes. Getting designated consumer loyalty scores progressively is conceivable with a drawn in online local area.

Client Retention

Having a web-based dynamic local area that gains from one another, is proactive, and addresses client issues, which draws in and hold new clients.

Networks of new companies like Airbnb and Masterclass assist clients information with improving by gaining from one another and upgrading their experience of the item.

Client care moves to client promotion

Rather than customary techniques for client service that look to determine client issues, the commitment to online networks permits brands to move towards client support.

Brands utilize online networks to make their clients' fulfillment and satisfaction the focal point of their consideration. This changes brand insight to one that really and profoundly thinks often about its clients.

How to fabricate a compelling online local area?

Here are a few strategies you can involve to construct areas of strength for a connected with online local area for your image.

Begin early and have a drawn out plan

It's never too early to begin fabricating an internet based local area, regardless of whether you start with something as straightforward as a conversation discussion. Many brands begin fabricating their local area when they send off their item or administration so that underlying clients can attempt the item or administration, give input, and talk about it with one another. Obviously, ensure you have an arrangement set up for how your local area will change and develop with time.

Support and award imaginative substance from clients

Many brands like Starbucks and Kraft have gatherings where they empower their clients to send recipes that utilization their items. This urges their clients to contribute inventive sub-

stance and other local area individuals to profit from this client created content. Many brands likewise perceive and remunerate clients for contributing substance.

Supplement online networks with disconnected endeavors

Disconnected endeavors like nearby meetups can truly assist with solidifying the viability of online networks. As per Marketing 4.0, in the present online-first world, the right disconnected endeavors can make a differentiator for a brand.

As An End Note,

When utilized successfully, online networks can truly draw in clients at a profound level and assist with changing the substance of the brand and its discernment in the personalities of clients. Having a flourishing online local area isn't simply attractive, however can be fundamental for specific organizations that need to excel in the present unique online scene.

Risks and Benefits of Money Lending Apps

Online loan provider/ Money lending Apps can be a helpful and simple wellspring of cash. You can frequently rapidly apply on the web and get the assets in your record inside a couple of days. In any case, working with a monetary foundation that has physical areas has its advantages too.

Assuming you're thinking about an online-just moneylender, audit these upsides and downsides first.

Benefits of Money Lending Apps:

1. YOU CAN SOMETIMES GET A GREAT RATE AND TERMS

Numerous web-based moneylenders offer unstable individual credits, which you can use to unite higher-rate obligation or for a significant cost. However, you may likewise have the option to find vehicle credits, contracts, understudy loans, and different kinds of advances on the web. By swearing off the expenses related with running retail stores, online-just loan specialists might have the option to offer lower financing costs and less charges than branchbased moneylenders. On the off chance that you can meet all requirements for one of these low-rate credits, you could set aside cash contrasted with acquiring cash somewhere else. However, try not to accept that online-just banks offer the best rates. A few web-based moneylenders offer comparative advances to their branch-based partners, and some have such high charges and rates that going to your neighbourhood bank or credit association may be a greatly improved choice.

2. YOU CAN QUICKLY COMPARE MULTIPLE LOAN OFFERS

One benefit of looking for a credit online is that contrasting banks and offers prior to tolerating a loan is simple. You can track down surveys and correlations with get an outline of every moneylenders have potential financing costs, terms, advance sums, charges, and different advantages or disadvantages. You can likewise once in a while apply for a preapproval or qualification with a bank to get a gauge of the credit

sum, rates, and terms you'll get. There are likewise aggregator and correlation shopping locales where you can finish up one application and afterward get numerous advance offers. Regardless, these frequently just require a delicate credit request, which won't influence your FICO ratings.

3. THERE MAY BE A QUICK AND EASY APPLICATION

Online-just banks frequently expect to make a basic, smoothed out application process. The greater part of the cycle happens completely on the web, in spite of the fact that you at times need to take pictures of check reports (like a driver's permit) for the moneylender.On the other hand, some branch-based loan specialists let you start the application on the web however expect you to visit a branch to finish the interaction.

4. SIMPLE ENDROSEMENT

Compared to different sorts of credit, getting an approval is a lot more straightforward. Online loan specialists frequently have low standards which you can without much of a stretch meet to get an endorsement. This can incorporate having a steady kind of revenue, a financial balance and being of legitimate age.

Regardless of whether you have terrible credit, there are online moneylenders that offer internet based advance administrations that are custom-made for your necessities. On the off chance that you apply for a credit from the save money with a negative FICO score, your application will in all probability wind up dismissed.

5. LESS ISSUES

The tiring part while applying for a credit from banks and different establishments are the paper works that you need to submit and fax to them. You should present the right certifications to get a credit endorsement. In any case, when you apply for a web-based advance, you don't need to go through similar tiring assignments. You will just have to top off a webbased structure and you're finished. You never again need to stand by in line or travel actually to the bank or different establishments to apply for the credit. These recoveries you both investments, as you can do it easily in your own home with your PC.

Risks in using Money Lending Apps:

1.

YOUR CURRENT FINANCIAL INSTITUTION MIGHT BE BEST

You might find it's difficult to get endorsed for an advance from probably the best web-based moneylenders on the off chance that you don't have brilliant credit and a low relationship of debt to salary after taxes. Some of the time, it tends to be simpler in the event that you attempt to apply for a line of credit with your ongoing bank or credit association. This is particularly obvious on the off chance that you have a long history of keeping your cash there or took out and reimbursed (or are reimbursing) different credits from the bank or credit association.

2. LENDERS MAY CONTINUE CONTACTING MANY YOU TAKE OUT A LOAN

When you start the application interaction with various moneylenders, or think about offers utilizing an aggregator, the snail mail, messages, and calls probably won't stop. This could be valid even after you apply for a line of credit or rule against getting cash.

While you can contact every loan specialist and request to be removed their promoting records, it tends to be a tedious and troublesome interaction.

3. YOU'LL NEED TO MANAGE THE LOAN ONLINE

You might be open to applying for a credit on the web, yet additionally comprehend that you'll have to reimburse and deal with the advance on the web.

In the event that you have an issue or question, you'll need to email, call, or utilize online talk to contact the guarantor. These are much of the time conceivable with branchbased moneylenders, however you likewise have the choice of plunking down with somebody assuming you'd like.

4.  High charges and financing costs

Professionals would exhort you not to get this credit, except if the need is pressing. Online credits have higher financing costs and expenses, contrasted with typical advances. Beside the exorbitant loan costs and expenses that you need to pay as you apply for the on the web. You will likewise need to pay a charge in the event that you are late in your instalment. Most late reimbursement expenses that are charged by online moneylenders are very extraordinary that they can arrive at up to twofold or triple the sum that you have acquired.

5. Short reimbursement course

Normal credits from banks and different organizations can give you a reimburse-

ment plan that isolates your obligation instalment in a long range of time. Reimbursement should be possible inside the range of a little while getting an ordinary credit. An internet based credit nonetheless, expects you to settle your obligation inside a more limited range of time. it very well may be in no less than two weeks or several months.

6. Uncertain terms and condition explanation

In some credit administrations, there might be sure agreements that place you in a high gamble circumstance. This is frequently deliberately covered up or made indistinct, since they don't maintain that you should be aware of it.

It eventually relies upon the motivation behind your credit. In the event that this is an essentially little credit that can be paid with your next check and you wouldn't fret the higher financing cost, then getting a quick web-based advance might be the quicker and more helpful arrangement.

Yet, on the off chance that you're searching for a fundamentally huge credit to purchase a home, vehicle, or significant expense property, your main choice is consider a conventional bank credit. It's anything but a fast cycle, yet while you're managing long haul credits with more modest financing costs and higher maximums, bank credits are the more viable arrangement.

As a Final Note, would it be a good idea for me to get a web-based credit?

Distrust at Workplace

Simon Sinek

“A team is not a group of people who work together. A team is a group of people who trust each other.”

~

Have you ever felt that you have not been trusted enough in the workplace? Or you can’t trust a fellow worker or leadership? How does that impact you? Does distrust affect the workplace culture? Let us find out -

Trust is an integral part of human relations at workplace too. When employees trust their managers, their organisations and their teammates, they are much more likely to be engaged and be more passionate and committed about their work. A distrusting work environment affects employees and organisation both equally. Organizations struggling with distrust fail to thrive unless they correct the problem.

Those who get the trust game right, champion humanity, compassion, empathy and authenticity to build strong, trusting workspaces which improve employee engagement, morals, retention and business success. Without trust, it’s next to impossible to:

• Create a meaningful& engaging employee experience

• Retain top talent& collaborative environment

• Maintain or build your brand& goodwill

• Business Growth anddesired results

1. Sense of security, reliability and confidence in our dealings

2. Sense of prediction that someone will act in specific ways and be dependable or not

3. Sense of self-credibility that has been earned over time

Ironically, we are expected to develop trust as we grow up, we are never taught explicitly how to earn or build trust in relations. Trust can be categorised into two broad categories -

1. Practical trust – more traditional & fundamental type of trust which can be earned by being a persistent, reliable and dependable employee. By consistently meeting commitments, deadlines, punctuality, being trustworthy, showing competence can win trust of others. People must have the confidence that what is said, will be delivered.

2. Emotional Trust – Emotional trust gets build when one goes above and beyond what is expected out of them. People must trust that you’re on their side, have faith you’ll treat them kindly and respectfully, will not judge them. They must be comfortable sharing their honest thoughts, feelings, and ideas for them to have emotional trust in you which gets build with emotional intelligence.

WHAT IS TRUST? Trust at workplace means–

Why does TRUST in the workplace matter?

Workplace culture of honesty, psychological safety, and mutual respect is ascertained by trust. Trust helps employees to feel secure in their job, take pride in their workplace. Employees then are willing to extend themselves which in turn reduces turnover. Trust builds employee engagement, which leads to quality work and better results. Trust fosters a sense of belonging and connect too.

Employees perform bare minimum needed to get work done, are hesitant to share information, exhibit mediocre work performance, experience a lack of motivation and participation in company events/initiatives in a climate of distrust. They feel micromanaged and begin to resent input from their managers. If they don’t trust their managers, it often results in disrespect and an unwillingness to respond to them. Low morale, decline in productivity and employee dis-satisfaction is bound to happen if trust is put at the back burner.

Signs of Distrust – Below signs suggests that distrust is brewing at workplace -

1. Stressed, Anxious Employees – is one of the first warning signs of a trust issue. When employees are stressed, their morale and job performance suffer. Employees should feel valued and safe.

2. Low Engagement – stems from distrust which leads to low employee engagement. If employees distrust their leadership or team, they lose motivation and fear sharing their ideas. Employees must feel motivated and engaged, at all times, to perform their best.

3. Restricted Contribution – Distrust impedes creative ideas, honest feedback, and constructive criticism. Without trust, employees are less likely to share, open up and cooperate. Employees must feel that they can be honest while sharing their ideas or voicing their concerns, without fearing judgement, discrimination, or retribution.

4. Low Collaboration – Collaboration can’t be expected if distrust exists in an organisation. Fearing that their ideas will be ridiculed or rejected, or that someone else will take credit for their ideas, employees will refrain from collaboration.

5. High Attrition – Employees are not invested completely if they don’t trust their managers or their co-workers. They may also feel undervalued and unappreciated. High attritionattracts high recruitment costs.

6. Absence Of Constructive Feedback – Employees need to feel trusted to give genuine and constructive criticism, if that relationship is established and communication becomes open, trust becomes natural for both, employees and leadership.

Causes Of Lack Of Trust In The Workplace - A lack of trust filters through the organization and starts at the top. Examples of management issues that create trust problems -

1 INFORMATION – Sharing of information only with key members rather than with entire team is generally the cause of distrust. Many a times, the information is shared on a ‘need-to-know’ basis. Leaders forget that important information has a way of leaking out giving way to rumours.

2 FAVOURITISM – Favouring one above the rest of the team can be fatal. Perception of favouritism too plays a pivotal role. Leaders simply, out of comfort, turn to one person more frequently and can be perceived as favouring. This can lead to distrust in the team.

3 ALIGNMENT – Lack of alignment between responsibility and authority adds to distrust. If job profiles or responsibilities are unclear, it can cause confusion and mistrust. Matching authority should be provided, competency need to be ensured, when a team member is given the responsibility for a task.

4 CREATING SILOS – This destroys teamwork and collaboration by creating a ME Vs. THEM mentality and leads to people not understanding and supporting each other within the organization.

5 MICROMANAGMENT – breeds distrust,which, in turn, causes employees not to trust them and there is a ripple effect as well. It restrains innovation, growth, collaboration, camaraderie and creativity. Employees should feel they have the freedom to make their own decisions even at the cost of making mistakes which is a learning.

Let us look at how trust flows in the workplace. There are 3 directions of trust that workplaces need to have–

1 The Team must trust the leader – Team members who don't trust their leaders are likely working the bare minimum and not planning to stay on for long. They're probably not innovating and contributing because they don't believe what leadership tells them.

2 The leader must trust the team – If leaders don't trust the team, they end up micromanaging, withholding information, working in silos or with the dependable few. This can create a vicious cycle, as your team may respond by pulling back even further. The ability to delegate holds both you and others accountable and reflects a strong element of trust.

3 The team members must trust each other – If the team members don't trust each other, they may hold onto key information, and by so doing, they can interfere with others' work and block the organization from moving forward. Team members who aren't comfortable sharing information are working at cross-purposes.

Key Advantages Of Building Trust At Workplace –

1 Higher Retention – Positive work environment benefits include enhanced retention and recruitment of a diverse talent pool.

2 Stronger Collaborative Teamwork – Teams flourish and prosper in a positive work environment because they value cooperation over competition. Whereas teams in a toxic work environment may suffer from rivalry, unnecessary competition, backstabbing& negativity.

3 Increased Productivity – Employees are likely to push themselves and rise to the challenge if they feel that their manager trusts them to accomplish a taskso that they don't let their superior – or themselves – down.

4 Increased Creativity and Innovation – Employees in a positive workplace like to brainstorm, experiment, try new approaches and disrupt the monotony. Negative work environments stifle creativity and originality.

5 Improved Communication – In a trusting climate, employees feel it’s safe to ask questions and share candid information about work

progress. They’re more apt to point out inefficiencies and offer possible solutions when they feel the communication doors open. Rumours and misinformation are less of a problem too.

6 Health and Well-being – Mental and Physical health of an employee depends upon the positive& trusting relationships with supervisors and colleagues. In trusting climate one suffers fewer work-related health problems and performance blocks.

7 Improved Employee Satisfaction – Hightrust environment brings work satisfaction as employees feel confident that their organization has their best interests in mind, and vice versa.

Admitting there is a problem is half the battle won. Once recognized,there are opportunities to create mutual trust, one can begin the work of building it.

How to cultivate trust in the organisation

Trust is a sensitive subject, and trust issues can be difficult to identify, acknowledge and solve. However, if people are to flourish and organisations are to prosper, a safe environment needs to be created where people can develop interpersonal trust with each another.

Strategies For Building Trust In The Workplace

1 Listen Attentively – Acknowledge employees as unique individuals who have their own ideas and viewpoints. Allow them freedom to speak their mind, and express genuine interest in them. Be receptive to both positive and negative feedback. Demonstrate that feedback is welcome whether your agree with it or not. Encourage them to elaborate their thoughts so that a full understanding of what is being communicated is obtained.

2 Express Appreciation – Everyday appreciation goes a long way and builds anemotional security with employees. One may show appreciationon a recognition platform, by sending ‘thank you’ messages, verbal praise, or a simple pat on the back. Reinforcement of behaviours that are desired will help build a solid relationship based on mutual respect and trust.

3 Empowerment – Encouraging professional development and autonomy is a way to empower. Typical meetings that they are not supposed to be in, invite them for the same,they’ll remember the trust expressed in them, and their unique perspective might benefit the organisation. Provide them additional responsibilities that they would enjoy.

4 Stop micromanaging – Most employees don’t want to be

ployees. When communicating, always be genuine and authentic. More is the comfort zone for them, more is the trust in leadership.

6 Create Inclusive Culture –Organisation culture should reflect qualities like appreciation, resilience, and teamwork and is a key part of establishing trust in your organization. Build an inclusive culture — one that accepts and values the strengths of all employees.

7 Be Honest, Transparent –Employees won’t trust leadership if they are caught by surprise about major changes in the workplace. Engage them, express that leadership is not there to talk at them but to talk with them. Don’t shy away from being the bearer of bad news, have the integrity to tell the truth. Transparency brings in honest conversations, collaboration and respect. It helps take off mysteries and doubts that creates mistrust.

8 Make Personal Connection –Get to know your people and allow them to know you. Create opportunities that makes them believe leadership too is one of them. Let them know that even if you are managing them, you are in togetherness.

looked over their shoulders. They want to feel trusted enough to be able to work with minimal supervision. Assure them that help, if needed, is just a call away. This help them to feel supportive without hovering& undue pressure on them.

5 Focus On Nonverbal Communication – Positive body language paired with empathy, patience, and problem solving attitude create a welcoming and approachable environment for em-

9 Encourage,Not Command – No organisation succeed in the long run by telling employees what to do. One needs to motivate them to do it. When employees feel aligned with the goals of the organisation, they’ll work

harder, smarter& creatively. Delegate tasks and grant as much autonomy as possible, with clear expectations. You will get trust in return of trust.

10 Take Blame and Give Credit – Hogging all the limelight and dishing out criticism is a sure shot way to lose trust at workplace. Giving credits to the team reinforces the sense that there are shared goals rather than a boss’s personal agenda.

too is crucial. Employees respond to trust by moving mountains for the leadership and become more engaged in the business.

Trust is a critical factor in workplace. Empowering employees through belief& trust in their abilities facilitates meaningful change. Trust takes a lot of hard work to earn and very little effort to lose. Once lost, trust can be nearly impossible to get back. Gaining trust is a two way street, you must earn it, by giving it. Building reciprocal trusting relationships is how workplaces thrive.

11 Model the behavior you seek – A leader’s behaviour influences employee’s action and the potential to drive results. Reinforce your points as a leader by appropriate examples and action points. An appreciative culture can be set when a leader becomes the role model and follow what is preached.

12 Action On Suggestions – Solicit feedback, share an appreciation for their thoughts. Take actions on the feedback. Help them understand why some of their thought process is not being implemented conversely.

When it comes to driving trust at workplace, leadership cannot take their foot off the pedal. Trust empowers. Mistakes will happen but having faith that the team will find a solution

By Dr. Neeta Pant

Senior HR, Professional, Clinical Psychologist, Executive, Life Coach, Soft Skills Trainer, POSH & POCSO Trainer

“Teamwork begins by building trust. And the only way to do that is to overcome our need for vulnerability.”

~ Patrick Lencioni

Network Marketing and Its Scope in Modern Business

Network marketing is one of the most popular and emerging business models that are apt for the recent business trends. It complies with the evolving demands of the current business era and provides the best outcomes. Network marketing is s specific genre of business marketing that relies on a person-to-person sales strategy conducted by individual sales/business representatives. Network marketing business will help build a solid network of functional representatives to assist the business house in achieving its targets and generate more outstanding leads per requirements. The other name of network marketing is the pyramid scheme. Let us learn more about Network Marketing.

How Does Network Marketing Operates?

Network marketing has many other professional names, such as multi-level marketing (MLM), affiliate marketing, and cellular marketing. It is also considered referral marketing or consumer-direct marketing. Network marketing aims to appeal to energetic people with exceptional sales skills to help a business create a good network of salespersons. The most attractive part of the marketing program is low to the sensible investment needed, making it approachable to many people.

Companies that rely on network marketing create a multi-tier business model of network marketing. They create several levels of salespersons. Each salesperson's job is to recruit their personal network of more salespeople and spread the net wider. Whenever a salesperson can recruit more salespeople under his network, they receive a commission. That is how each person contributes to widening the network. Research studies and market surveys have indicated that single-tier business network models are more reliable than multi-tier business models.

The recruiting salesperson now becomes the upline, and the ones they recruit become the downline. The salespersons in the upline earn money from reaching their own sales target

whenever any downline salesperson sells a product. It is much like the policy that most mobile applications follow – refer to your friend, and whenever your friend purchases something, you get a specific commission for the referral. So, the equation stands out as – the more downline salesperson you can recruit, the higher your earnings. The more people in the bottom tiers, the greater the earnings of the top tiers. This is the rough structure of the network business model.

Pros and Cons of Network Marketing

It may seem that the professionals in the top tier of network marketing make more money than the ones in the lower tier. Then why does the company at all need a downline? It is mainly because the company earns a lot by selling starter kits to newly recruited salespersons.

We know what network marketing is and how it operates practically. Let us quickly look at the prominent advantages and disadvantages of Network marketing.

Advantages of Network Marketing

Network marketing has several advantages that make it lucrative to so many people. Let us explore in depth some of the most prominent advantages of networking marketing.

 Network marketing business is infinite. There is no limit to the network that even one salesperson can create. This is true because the companies or the sales tiers can collaborate with as many people as possible to become their distributors. The chain is infinite. The distributors can further recruit sub-distributors. In this way, the chain elongates, and there are huge sales of the company products. Network marketing is one of the many proven ways to highly amplify

any company's product and service sales.

 Network marketing mitigates the dependence of any company on the advertisement. Since a vast human network is involved, the companies do not solely rely on advertisement. In some cases, network marketing is even better than advertisements because there is direct communication between consumers and salespersons. There is no need for any intermediate bridge of advertisement. This

dramatically reduces the cost of advertisements.

If any business house can establish a good network marketing structure, there are high chances of monetary profits. The structure will also determine the profit margins of the distributors and the sub-distributors. The nodal point of the company need not bear any burden for the payment of the salespersons and the distributors. The commission and the profit get rolled to satisfy the expenditure.

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 The company need not spend any money on the storage and distribution of the products. The distributors will bear the expenses for the storage and distribution. This signifies that the ROI of a company on adopting the network marketing model is relatively high. The companies have enhanced interest in establishing such business models.

Finally, there is a scope for unlimited income from network marketing. It all depends on your potential to deal with the company. The salespersons can earn from their profits and the profit of the distributors or downline salespersons recruited by them. The more you can spread the network, the more profitable it gets.

Disadvantages of Network Marketing

There are limited disadvantages but let us focus on some. One of the core problems that companies face with network marketing is that – they cannot predict consumer behavior. The companies either overstock or understock the

products. There is often scope for miscommunication among the central authorities and the distributors in various tiers. This could lead to faulty management and often a disastrous situation where the companies either go into a loss for producing extra or cannot meet the market demand, leading to loss of potential customers. Manufacturers have a limited role, mainly the distributors and the salespersons at several tiers who determine the business's success.

Final Words

Here are 5 quick tips to help you to create a great network marketing chain:

• Follow whatever the company teaches because they are pros at this job

• Identify the target appropriately

• Develop an organized work system

• Choose wisely

• Evolve and renovate your business plans every day for better results

Pro Tip: Not all network marketing companies are genuine. Some fake network marketing business houses can force you to join the business and buy expensive products. Beware of such companies and report about them. Home franchising is a great way to earn unless it is fraud.

New Zealand The Buzzing Holiday Destination

New Zealand has an incredibly extraordinary beauty to offer the tourists and enthrall them with a natural grace like none other. The gorgeous island of New Zealand is situated amidst the southwest Pacific Ocean. The Island of New Zealand is geographically divided into the northern and Southern parts. The area of this island country is 268,021 sq. km. New Zealand is a tourist paradise for anyone who loves nature's beauty. There are fiery volcanoes, pristine lakes, incredible craggy mountains, and gushing glaciers. Adorning the country even more, are the sun-kissed beaches. Whether you love mountains or beaches, the country would disappoint none.

New Zealand - The Land of Divine Beauty

The divine beauty of New Zealand is ideal for swathing your senses with heavenly exposure. For people who love mountains - the Milford Sound of South Island and The National Park of Fiordland is paradise. These spots are ideal for hiking. You can gasp at the beauty of the virgin mountains and edges of peaks while photo dumping among the glacier cascades. New Zealand is also the land for adventure sports. You can enjoy all types of games here. Sea kayaking is one of the best adventure activities in New Zealand. Sailing and yachting across the Bay of Islands are equally famous. Among Some of the oldest national parks in the country is the Tongariro National Park, which has a serene beauty. In New Zealand, tourists love to enjoy hot spring baths.

New Zealand for Nature Lovers

For the past few years. New Zealand has remained a hot spot for tourism. The raw and unexplored natural beauty of New Zealand attracts tourists from across the globe. One such spot that is a must-visit for tourists is the Fox and Franz Josef Glaciers. The natural bounty of this remarkable place is beyond worldly description. This spot's ice cave hikes and helicopter rides will leave you speechless.

Rotorua is another such place with a naturally dramatic biogeography. The topography of the place contrasts with a vast number of thermal springs and natural landscapes. New Zealand never fails to amaze the adventure hunks. Enjoy multiple activities like sky diving, luging, and mountain biking.

If you are water liver and snorkeling attract you more than anything else, the best place in New Zealand for you is the Lady Knox Geyser and Champagne Pools. Explore life under the ocean and adorn your experience with excellent forest hiking across the Abel Tasman Coast. The tourists who have a soft corner for dolphins, New Zealand brings you the Kaikoura branches, where you can witness marvelous dolphins in their complete valor.

The Perfect Mix of Natural and Cosmopolitan Life

It may not be true if you have thought that New Zealand is all about natural beauty and remote places. Auckland is one of the world’s most progressive cities, with skyscrapers kissing heaven. The mind-boggling vistas of this magnificent city will amaze you. Auckland is a perfect mix of city life and natural vibes. There are plenty of beautiful sandy beaches, coves,

and forests coupled with extraordinary islands to create an enchanting experience for tourists.

New Zealand has a population of 4.4 million (approximately). It is s melting point of cultures where people from Europe, Britain, Germany, Italy, and Scandinavia live together. It is indeed a confluence point of cultures. There are Europeans and a very high population of Asian minority groups. The formal language used by the government for official work is Māori.

4 Must Visit Places in New Zealand

New Zealand is full of surprises. Be it the untamed forests or the gushing glaciers, the magnificent skyscrapers, or the lush green nature,

here are the top 5 places that you simply cannot miss when in New Zealand:

1. Bay of Islands

Known across the globe for being the paradise of water sports lovers, this place is fantastic as a top tourist attraction in the country. It is a heaven for sailing boats and the best joint for yachting. The Bay of Islands forms a necklace across the ocean with 144 islands as the beads of the necklace. Whether kayaking or exploring beautiful marine life, this is the apt place to spend your holidays. It is also a great fishing spot. The area's most prominent tourist attraction is the rock formation site - Hole in the Rock.

2. Tongariro National Park

Explore incredible biodiversity and splendid wildlife in one of the country’s oldest and most famous national parks. The place is a combo of everything - volcanoes, forests, plateaus, turquoise lakes, and green vegetation. Overall, this is the canvas of some genuinely incredible melodramatic scenery. It is one of the best places to visit in New Zealand. While in this national park, do not miss the gorgeous view of Lake Taupo. The mineral-rich water and turquoise color are all set to blow your mind.

3. Rotorua

Located in the Pacific ring of Fire, this unique place is one of the world’s most prominent geothermal regions. Steaming geysers and naturally boiling mud pools are a natural awestruck site and an excellent place for skydiving, trekking, and mountain biking. It is a natural confluence of mountains and hot springs. The Lady Knox Geyser is a great spot in New Zealand you cannot miss.

4. Auckland

If you have already learned much about New Zealand’s natural beauty, it is time to explore some glorious skyscrapers and illuminate city life. Auckland is the most famous town in New Zealand and has a picturesque landscape that will make your eyes glitter and your heart shimmer every time. Auckland is a perfect place to spend your dazzling evenings and do some great shopping during your New Zealand visit So, make sure that you don’t miss the visit to Auckland. The beautiful cosmopolitan nature of the city is fantastic for a vacation. Auckland is the ideal go-to place during your New Zealand trip.

New Zealand is ideal for a family vacation. Take some time away from your busy daily schedule and plan a beautiful trip to New Zealand.

October is a huge month. However, there are significant planetary changes expected to occur this month. Mercury, Pluto, Uranus, Jupiter, and Neptune will experience a difference in October 2022: Mercury, Pluto, Saturn, Uranus, Jupiter, and Neptune. The prolonged retrograde motion will subside, and we can expect positive energy in the track this time.

October is also the month of Aries Full Moon, marking the Eclipse season's beginning. This month will bring overall healing to our lives. Let us have a look at the expected October astrology forecast on all the zodiac signs:

October will bring some endings to your life. Don’t get worried because your life needs these endings for the beginning of something new and good. Always remember that celestial energy will never leave you hopeless or miserable. It is best to give some time to your passion and dreams. October is a month where you can successfully start pursuing your goals and dreams, and guess what, you will get some fantastic results. It is time to nourish yourself and give some quality time to attaining your health and personal development goals.

Your health and wealth are on the right track, but what needs attention right now is your personal relationships. You must reconsider your ties with friends and near ones and immediately shun those that give you trauma. Remember, October is the healing month. There can be no more excellent healing process than avoiding negative people. Give some time to yourself recover the past sorrows. Realize whether you need the person’s presence in life or not. Stay away from anything that does not make you feel good. This month is not a great time to start a new business or relationship. Instead, try to heal your wounds and prepare for the life ahead. Stay close to your family.

It is time to embrace those responsibilities you had been running away from. October is your month to take up new challenges and complete them successfully. You can take up new courses to enhance your skill sets. It is a perfect season to revamp your life and try something new and inspiring. Don’t be dissatisfied with the progress. Every small step count, even if it doesn’t create considerable impact. Try to use the resources optimally and get the best results. Supportive friends and family are a blessing, so you must stick to them.

October will help you fulfill your long-subdued desires. It is an excellent time for healing and moving forward with your passion. Health will be good, and there are chances of wealth inflow. At the same time, confront your fears and hidden insecurities. Don’t be afraid to accept yourself; try your best to become a better version of yourself. October will infuse in you some tremendous potential to pursue your dreams. Don’t hide your fears. This is the right time to pursue your dreams and starts with new courses. There is no shame in associating with new friends but make sure they add value to your life.

You love peace and security in life. But October is the time to leave the comfort zone and step out because nothing grows in that zone. Start facing challenges and hurdles and your insecurities. Take out some time for yourself and pamper yourself. You have been working for a long time, and it is time to spend quality time yourself. Give yourself some good boost. Heal from past traumas and start leading a new life. You need some relaxation and a positive influence in life, and October is all set for the same.

Your habit of being too sensitive can lead to a downfall. It is time to strengthen yourself and start exploring new possibilities in life. The world is big, and there are ample opportunities. Don’t take others’ words too seriously. Build the foundations for a happy and peaceful life, and October is the right time to start.

You must take precautions about safeguarding your material liabilities this month. It is crucial to sustain whatever you have and not run into acquiring more assets. This month may feel like the new beginning of an era. You will hardly get any external support for new ventures. However, the mindset is all that matters. Support yourself and transform your perspective. You may have to revamp your financial plans. October is an excellent time for further studies. If you are feeling underconfident, study more and gain knowledge. Hold steady and continue moving forward.

This month is expected to be a life-changing month for you. Horoscope predicts that October could be an excellent month for the metamorphosis of your life. Some huge transition is making its way into your life. Be prepared to accept the new changes and don’t cling to the past. It is a great time to start new ventures, execute long-awaited business ideas or plan something big. If you want to take up new courses, go for it. Life is all set to remove the woes and worries from your life; it is best if you don’t cling to old sorrows and let them go. Prepare yourself for a rollercoaster ride of changes and enjoy the process.

October is a difficult month for you. There will be numerous challenges to face, but you can handle them with brave spirits. Be courageous and prepared to face whatever comes along the way. It is essential to pay attention to your dreams and those goals that you have been neglecting for so long. You can start your journey of achieving your dreams. It is better not to associate with new people or start new relationships during this phase. Also, take some breaks away from the noisy daily schedule. A vacation could be a great escape. Take out some time in solitude to reflect upon your life.

Find people who have similar interests as yours. October is the ideal month for you to socialize with people and find friends and new business partners. It is the right time to sow seeds for new friendships and relationships. This is an average month for you where you can face minor health troubles. Continue your work wholeheartedly because a lack of sustainability may lead to a downfall. Consistent effort throughout October will help you grow and thrive better in life. It is time for some beautiful connections. People planning to get married can start their venture in October.

It is time to embark on a new journey in life. October will bring a massive directional change in your life from all perspectives. It is a great time to switch jobs or careers. October will bring clarity where you can genuinely dream of embracing something new and meaningful. It is a good time for investment. You can channel your wealth to earn more money. If planning to open a new office, go ahead. It can be a great time to move out from unfruitful relationships and bid farewell to all kinds of toxicity in life.

October is the month that will shatter all your old beliefs and help you embrace a new perspective on life. You can engage with something new. For a long time, Pisces individuals had been immersed in a negative self-image. It is time to break those shackles and set yourself free. October is your month of liberation. You may need to cut away some toxic friends and relatives. It is time to retrospect on the life you have been living so far and to embrace a new journey of life. October can be great for growth. If you have been stuck in the same place for a long time, try to free yourself this month because you will have a lot of positive energy.