Monday, 20th July ’20

The Morning Tea

 

Good morning. Welcome to this refreshing new week with a blasting Monday Edition of The Morning Tea. We have talked to a lot of our readers and we have made amends to make TMT the best utilisation of your time.

Today, we introduce you “The Manager’s Corner” wherein we discuss the latest strategies and information for a top-of-the-game manager. Our readers should always stay a step ahead in their work domains and we work consistently to make you smarter. Happy reading!

MARKETS

  • Markets: Friday was healthy for the markets at Sensex and Nifty both gained 1.2 percent. While COVID cases are still rapidly rising, the markets are counting on liquidity boost and accelerated progress of vaccine research. It is expected that the global cues will continue to dictate the market trend.

  • Trade: India revived its preferential trade agreement with the Southern African Customs Union(SACU). The trade between India and entire Africa stood at $66.7 billion in 2019-20 whereas trade between India and SACU stood at $10.9 billion dollars.

TECHNOLOGY & INNOVATION

  • Walt Disney adds its name to the list of companies that have cut their ad spending on Facebook and Instagram. They join other companies like Starbucks, Unilever, and Adidas. This comes amidst Facebook’s criticism over handling their hate speech and controversial content.
  • 38-year-old Roshni Nadar took charge as the chairperson of HCL technologies as Shiv Nadar, the founder of India’s third-largest software company stepped down. He’ll continue to be the Cheif Strategy Officer and the Managing Director of HCL.
  • For the first time in the fourth quarter of 2019 in India, the value of mobile and card payments at Rs 10.57 lakh crore exceeded those of ATM withdrawals which amounted to Rs 9.12 lakh crore. This is a clear indication of India transforming into a digital economy.

WHAT ELSE IS COOKING

  • India and the US on July 17 signed a preliminary agreement for cooperating on emergency crude oil reserves, including the possibility of India storing oil in the US emergency stockpile and for trading to capture any price advantage. This will help India save by avoiding capital costs of building our own strategic reserves and when the price purchased and stored oil goes up. 

  • KFC has announced that it is launching the development of its 3D bioprinting technology to create chicken meat in cooperation with the 3D Bioprinting Solutions research laboratory in Russia, as per the company’s official release. They will employ bioprinting technology using chicken cells and plant material without involving animals. 

  • The Foreign Direct Investment (FDI) from the United States (US) to India has crossed the $40 billion mark banking on the big ticket announcements by Facebook and Google last week. This reflects the confidence of American companies in the country, and the weaning the investors from China.

IN-DEPTH ANALYSIS

McKinsey’s Report: Women lost twice as many jobs as men due to COVID-19

Why is it in the news?

The report has become a shocker to the think-tanks, as it reads that female job losses rates resulting from COVID-19 are 1.8 times higher than that of males in India and the US.

What does the exact number show?

  • In India, women made up to 20% of the workforce before COVID-19
  • The unemployment surveys suggest that they make 23% of the overall job losses

What are the reasons?

  • One-fourth of the reasons cited was due to gendered nature of work across industries (women have 54% of global jobs in among worst affected accommodations and food service
  • Lack of systemic progress to resolve other societal barriers for women, that included burden of unpaid care, impact on female entrepreneurship, including female-owned micro-enterprises
  • Attitudes also shape how women experience economic consequences in a crisis relative to men. According to Global World Values Survey, more than half of the respondents in South Asia agreed that men have more right to a job than women when jobs are scarce

What are some of the measures suggested?

  • Interventions to address unpaid child care & digital and financial inclusion
  • Interventions to curb attitudinal biases at workplace

MANAGERS’ CORNER – Marketing Mondays

Lifecycle Marketing

As per SmartInsights, although it’s often said that the ‘funnel is dead’ since consumer follows non-linear journeys, regardless of the product or service you’re involved with marketing, it will always be the case that to grow a business, your primary focus is growing awareness, closely followed by increasing customer leads and prospects.

A more practical way to plan to integrate online marketing into marketing activities is to consider communications from a customer point-of-view through the customer journey. Many businesses are adopting marketing automation and account-based marketing technology to implement these touch points. And here is when the idea of Lifecycle marketing takes its birth. Explained pictorially above, the marketing strategy refers to creating a co-ordinated ‘always-on’ contact strategy for the whole customer lifecycle to boost conversions and retention. You can adopt the following ways to create that marketing strategy –

  • Automated email marketing like welcome, nurture and win-back sequences
  • Display ad retargeting, e.g. via Google AdWords Display network remarketing
  • On-site personalization recommending next best-product, offer or content to convert
  • Social media retargeting available on Facebook, Instagram, Twitter and LinkedIn
  • Traditional channels like direct mail or phone contact

THE MILLIONAIRE MINDSET

  • Knowledge Check: A Barbell strategy consists of making sure that 90% of your capital is safe in extremely safe financial instruments, and use the remaining 10%, or on risky investments to make the most of any black swan event. Applied to business strategy, this means having a binary approach. On the one hand, extremely conservative. On the other, extremely aggressive, thus creating a potent mix.

  • Practice: Priming is a memory technique where we expose ourselves to influences and respond to the stimulus without even knowing about it. Our memories immediately trigger a response to certain stimuli in the world. People use this technique to effectively memorise things by association instead of rote learning, also popularly known as method of loci or mind palace.

POLLING

A number of high profile Twitter accounts of Obama, Elon Musk, and Joe Biden were simultaneously hacked. A message was posted out from these accounts to transfer bitcoins to a particular wallet to get double the amount back. Twitter called it a coordinated social engineering attack.

Is your data safe online? Let us know here.

Written by Kumar Sourav Mohanty, Akansh Bhatt, and Shashank Dobhal

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