StartupTalky

Tag: Digital Business

  • VerSe Innovation – Story of the Parent Company of Dailyhunt and Josh

    Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by VerSe Innovation.

    The evolution of technology has given rise to many modern innovations. With the introduction of TVs in 1959 and mobile phones in 1995 in India, there has been an enormous growth happening in the field of communication and entertainment. Particularly, the growth of mobile phones is unbelievable in the country. According to a report by Deloitte, India is expected to have 1 billion smartphone users by 2026.

    With this medium growing, the elements (content and programs) for entertainment and communication have also started to evolve. Earlier, we listened to the news readers reading some selected news in a particular time slot. Today we get to choose what, when and where to read. The news reaches us more quickly in a short and crispy manner. Knowing the pacing world and people’s lack of time, even the entertainment industry has started making changes accordingly.

    VerSe is one of those companies that has adapted itself to the haste of the world. It is the parent company of the popular news application ‘Dailyhunt’ and the short video platform ‘Josh’. This tech platform offers content and videos in many local languages to keep its users updated and entertained. The article below speaks about the growth, funding and success story of VerSe Innovation Pvt Ltd.

    VerSe Innovation – Company Highlights

    Company Name VerSe Innovation Pvt Ltd
    Industry Media and Entertainment
    Headquarters Bengaluru, Karnataka
    Founders Virendra Gupta, Umang Bedi, Shailendra Sharma
    Founded 2007
    Company Valuation $5 billion+
    Website verse.in

    VerSe Innovation – About
    VerSe Innovation – Founders and Team
    VerSe Innovation – Startup Story
    VerSe Innovation – Mission and Vision
    VerSe Innovation – Business and Revenue Model
    VerSe Innovation – Funding and Investors
    VerSe Innovation – Mergers and Acquisitions
    VerSe Innovation – Growth
    VerSe Innovation – Competitors
    VerSe Innovation – Future Plans

    VerSe Innovation Founders discussing fund raising

    VerSe Innovation – About

    VerSe Innovation is a technology platform that offers its users to consume information and socialize with their community and media. Started as a Value Added Service (VAS) platform in 2007, VerSe Innovation started to flourish after the acquisition of Newshunt (Dailyhunt) in 2011. Later, in 2020, the company launched a new short video app called Josh which became an instant and tremendous hit.

    Virendra Gupta, Shailendra Sharma and Umang Bedi are the co-founders of VerSe Innovation. The company’s headquarters is situated in Bengaluru, Karnataka. This platform has over 350 million users as of today. Its services (both Dailyhunt and Josh) are available in 14 Indian Languages.

    VerSe Innovation – Founders and Team

    Virendra Gupta and Umang Bedi - VerSe Innovation Founders
    Virendra Gupta and Umang Bedi – VerSe Innovation Founders

    VerSe Innovation Pvt Ltd. was founded in 2007 and has three co-founders. It was founded by Virendra Gupta, Umang Bedi, and Shailendra Sharma.

    Virendra Gupta

    Virendra Gupta is the founder of VerSe Innovation and Dailyhunt. He also serves as the CEO of Dailyhunt. Before founding VerSe, Virendra Gupta worked in various companies namely, BPL Mobile, On mobile, Bharti Cellular Ltd. and Trilogy. He graduated with a master’s in Management from IIT Bombay – Shailesh J. Mehta School of Management.

    Umang Bedi

    Umang Bedi is the co-founder at VerSe Innovation Pvt Ltd. He graduated in engineering from Pune University and did a Management Program at Harvard Business School. Umang Bedi worked in various big tech companies before joining VerSe Innovation. He earlier worked in Satyam Computer Services, Wipro Corporation, Sun Microsystems Inc. and Symantec Corporation. He also served as the Managing Director of Intuit Inc, Adobe (South Asia) and Facebook (India & South Asia). Bedi currently serves as the Statutory Board Member of Goals 101 in addition to VerSe Innovation.

    Shailendra Sharma

    Shailendra Sharma is another co-founder at VerSe Innovation Pvt Ltd. He also served as the Senior Vice President of Engineering at Dailyhunt. Earlier, he also worked in Tata Research and Development Center, Persistent Systems Pvt Ltd and Trilogy.

    Sandip Basu

    Sandip Basu is the Chief Financial Officer at VerSe Innovation who was recently appointed in January 2022. He is a qualified Chartered Accountant and Cost Accountant from the respective institutes. He worked in Bharti Airtel as its CFO for 5 years until 1997. Sandip Basu served as the CEO of several companies between 1997 and 2015 namely, BPL Mobile communications Ltd, Xcel Telecom Pvt Ltd and Loop Mobile India Pvt Ltd.

    Bapu Kota

    Bapu Kota is currently the Senior Vice President of Engineering at VerSe Innovation. He earlier served as the Chief Technology Officer and Vice President of Dailyhunt. Bapu Kota graduated M.Tech (Production Engineering) from IIT Bombay in 1996. He was once the Senior Director at Yahoo and AOL.

    VerSe Innovation currently has a team of around 501-1000 employees.

    VerSe Innovation – Startup Story

    VerSe Innovation Logo
    VerSe Innovation Logo

    When VerSe Innovation was founded in 2007, it commenced its business operation as a B2B company. It was assisting telecom companies in the process of sending SMS alerts, notifying subscribers for newsletters, matrimonial sites, etc., This business went on for around three years. Later, in 2011, the founders decided to acquire Eterno Infotech, which used to run Dailyhunt (earlier Newshunt) from Umesh Kulkarni and Chandrashekhar Sohoni. Newshunt was later rebranded after 4 years and made Dailyhunt. This marked the company’s foray into the B2C market, the real business and growth of VerSe Innovation began only then.

    VerSe Innovation – Mission and Vision

    “To learn and define the real principles of inclusive and empowering technologies that seek to bridge the divide across class, culture, language and geography” – VerSe Innovation

    It is the guiding principle with which VerSe Innovation functions. The company wants to empower the nation digitally and eliminate the language barriers. It wanted its platform to be accessible by everyone.

    VerSe Innovation’s vision is “To create the world’s largest, most inclusive platform for content creators and audiences.” The company utilizes every inch of technological advancements to enhance and broaden its platform. VerSe’s investments and expansion plans reveal its steady growth towards its vision.

    VerSe Innovation – Business and Revenue Model

    VerSe Innovation offers content to users in their local language. It provides short and authenticated content through its platform to keep the viewer entertained and informed. The company generates revenue from the ads displayed on its apps and sites. VerSe also makes revenue often from tie-ups made with some businesses on its platform.

    VerSe Innovation – Funding and Investors

    VerSe Innovation has received 23 investments from various investors through multiple funding rounds. With the recent funding in April 2022, VerSe Innovation’s total valuation has reached $5 billion. Here is the list of all the funding received by the company:

    Date Round Money Investors
    April 6, 2022 Series J $805 million Sumeru Ventures, Google, Meta, CPP Investments, Sofina, Ontario Teacher’s Pension Plan, Luxor Capital Group, Baillie Gifford
    January 21, 2022 Series I $27 million CPP Investments
    August 12, 2021 Series I $431 million Sofina, Siguler Guff & Company, Qatar Investment Authority, Carlyle Global Partners, B Capital Group, Baillie Gifford
    February 8, 2021 Series H $100 million Sofina, Qatar Investment Authority, Glade Brook Capital Partners, Canaan Valley Capital
    December 22, 2020 Series H $100 million Sofina, Microsoft, Lupa Systems, Google, Alphawave Group, Alpha Wave Global
    November 24, 2020 Series H $10 million B Capital Group
    May 1, 2020 Series G $34.7 million Lupa Systems
    April 24, 2020 Series G $490K Sofina
    April 18, 2020 Series G $23 million Goldman Sachs, Alpha Wave Global, Sofina, ByteDance, Advent Capital Management LLC
    November 1, 2019 Corporate Round – ByteDance
    August 8, 2019 Series F $2.7 million Goldman Sachs
    May 15, 2019 Series F $22 million Sofina
    May 5, 2019 Series F $ 35 million Goldman Sachs
    January 18, 2019 Series E $3.2 million Sequoia Capital India, Omidyar Network, Renu Sehgal Trust, InnoVen Capital
    September 3, 2018 Series E $6 million Alpha Wave Global
    October 15, 2016 Series D $25 million Sequoia Capital India, Omidyar Network, Matrix Partners, Falcon Capital, ByteDance, Arun Sarin
    February 6, 2015 Series C $40 million Sequoia Capital India, Omidyar Network, Matrix Partners, Alpha Wave Global
    September 22, 2014 Series B $13 million Sequoia Capital India, Omidyar Network, Matrix Partners
    February 7, 2011 Unknown Rs 286 million –
    July 31, 2010 Unknown Rs 111 million –
    September 29, 2009 Unknown Rs 30 million –
    January 1, 2009 Unknown Rs 200 million Matrix Partners India
    July 1, 2007 Seed Rs 22 million OnMobile

    Sofina, Bytedance, Matrix Partners, Sequoia, Goldman Sachs, Alpha Wava Global were among some of the lead investors of VerSe, until Bytedance exited the captable at a discount of 56%, as per the news dated June 4, 2022. The regulator fillings of the company revealed that Bytedance sold its stakes to Ontario Teachers’ Pension Plan (OTPP) and Canada Pension Plan Investment Board (CPPIB).

    VerSe Innovation – Mergers and Acquisitions

    Apart from Newshunt and Eterno Infotech Pvt Ltd (both are addressed as Dailyhunt today), VerSe Innovation has acquired three companies for an undisclosed amount.

    Acquisition Date Name of the Company Amount
    October 13, 2021 GolBol –
    March 10, 2021 Vebbler –
    February 23, 2021 Cognirel –

    VerSe Innovation – Growth

    Started as an assistive company for telcos, VerSe’s growth is believed to have kickstarted with the takeover of Newshunt in 2011. With consistent funding and backup from the investors, VerSe started to grow along with Newshunt. In 2015, the company renamed its news platform as Dailyhunt. Today, Verse’s Dailyhunt offers content in 14 languages and has a monthly viewer count of over 350 million.

    In 2020, VerSe Innovation launched a short video app named ‘Josh’, a replacement for ‘TikTok’ right after its ban. This app became an immediate sensational hit among Indians. It took just 45 days for this entertainment platform to reach 23 million active users. Josh today has over 150 million monthly active users with 50 million creators as of April 2022. VerSe Innovation’s uncompromising goal toward technological development paved the way for its venture’s success. There was a 149% increase in its revenue during the previous financial year (March 2021) which is further expected to grow in the current and upcoming years.

    VerSe Innovation’s Expansion to the MENA Region

    VerSe Innovation plans to expand in the market of the Middle East. This will be started with Dailyhunt’s foray into Saudi Arabia, the UAE, Bahrain, Oman, Qatar, and Kuwait and is expected later to expand to other countries too, including Iraq, Iran, Israel, and Egypt. Furthermore, in the MENA region, Dailyhunt would also be launched in 3 other languages – Hebrew, Farsi, and Arabic in the MENA region. Desktop, web, and mobile app version, will be the 3 different versions that Dailyhunt will launch in, which will be available for both iOS and Android platforms.

    As per the news dated June 21, 2022, VerSe’s strategic and business development in the MENA region will be led by Shekhar Iyer, whom the company has appointed as the director and general manager. Iyer has previously worked with Abu Dhabi Media (Radio Mirchi), Percept Gulf (MAME), Zee Entertainment, Indian Express, and Khaleej Times for which he has been given this opportunity.

    Dailyhunt’s expansion plans to the MENA region will be fuelled by VerSe’s partnership with 5000+ content partners, which will include numerous news platforms including Al Khaleej, The Brew, MENA Newswire, Brandknew, KKompany, Chalk Media, Mudgal Kreations, Buzzing, and Gulf Today.

    VerSe Innovation – Competitors

    BuzzFeed

    BuzzFeed is an American digital media company that offers entertainment and news to its users. The company’s headquarters is located in New York, USA. The platform’s ‘social sharing’ feature and a lot of interesting content and activities keep the users coming back to them.

    Inshorts

    Inshorts is another digital news platform that gives the latest news in a crispy manner. Every news on its platform does not exceed 60 words. Inshorts contain news from all categories like business, sports, fashion, current events, etc. It is considered to be one of the top competitors of VerSe Innovation’s Dailyhunt.

    Moj

    Moj is a short-video-sharing platform similar to Josh. It proves to be the best competitor of Josh in terms of content, quality, services offered, etc. Moj is available in 16 languages.

    ShareChat

    ShareChat is another social networking service founded in 2015 in Bengaluru. It has both news and entertainment-based content in its application. This platform provides a facility called chatroom, which often organizes some chat sessions with celebrities. ShareChat functions in 15 languages and has 250 million active monthly users.

    VerSe Innovation – Future Plans

    VerSe Innovation plans to induce technological advancements and Artificial Intelligence into its system. The company recently received huge funds from investors. The co-founders said that these funds would be used to set up labs across the globe to solve video encoding problems on its platform.

    VerSe also has plans to expand into the international market, especially in South East Asia. After achieving the targeted growth in India, the company will set its foot outside the country within a year.

    FAQs

    What is VerSe Innovation as a company about?

    VerSe Innovation is a technology platform that helps its users to consume information and socialize with their community and media.

    Who are the founders of VerSe Innovation?

    Virendra Gupta, Umang Bedi, and Shailendra Sharma are the co-founders of the company.

    What is the total valuation of VerSe Innovation?

    With the recent funding worth $805 mn that came in April 2022, the company’s total valuation has reached $5 billion.

    What are the platforms that are functioning under VerSe Innovation?

    Dailyhunt and Josh are the two popular platforms that come under VerSe Innovation.

    Who are the competitors of VerSe Innovation?

    Top competitors of VerSe Innovation are:

  • The Future Of D2C Industry – Trends Lean Towards Data Analytics and Research

    The article is contributed by Shashank Jain, Co-founder, Strawfit (Bourgeon Foods LLP)

    Owing to a decade of technological advancement and the last few years of the pandemic, there has been a fundamental change in the way businesses and customers engage with each other. After the jolt that the traditional retail sector faced, there’s a rise in India’s currently growing direct-to-consumer phase, with D2C brands thriving as online channels have become the go-to destinations for almost every consumer. For those still struggling with the concept, Direct-to-Consumer, or D2C, is an emerging business model of a customised shopping experience where the product is provided directly to the customer by a business, bypassing any sort of middleman in between, hence being cost-efficient.

    With an estimated 700-800 D2C brands valued at over USD 100 billion by 2025, India is expected to be a hotspot for startups. A plethora of emerging service providers in India indicates the total addressable D2C market growth by over 15 times from 2015 to 2025. According to research by Statista, this total addressable market was valued at 33.1 billion U.S. dollars in 2020, which by 2025 was forecasted to grow almost threefold, making India a hotspot for startups. Currently, the segments that are growing at an ever-increasing speed in the Indian D2C market include consumer electronics and FMCG, with an expected worth of USD 43.2 billion and USD 30.8 billion, respectively, by 2025.

    The popularity of the D2C industry is booming and will continue to expand. To increase buyer-seller interaction, making purchasing more engaging, pleasurable, and long-term, brands in this space leverage certain market trends.

    Some of these trends that we recommend entrepreneurs in their operations are:

    ● Sustainable Manufacturing: Consumers are increasingly sceptical of brands that generate revenue through unethical business practices. Brands that are transparent about their business practices, from sourcing raw materials to manufacturing and supplying, generate more goodwill. Transparency creates trust, and people are more likely to buy from brands they trust. Brands that fail to build sustainability into their business models risk becoming less relevant to this new generation of consumers.

    ● Data Analytics: Until recently, brands had little access to customer data beyond surveys or third-party data. D2C enables brands to understand customers and their demands like never before, thanks to their continual personal connection with their customers through their experiences or surveys. Brands have realised that customer data is a powerful instrument that, when combined with analytics and technology, can be utilised to provide personalised experiences for customers.

    How Can D2C Brands Use Data to Grow E-commerce Sales?
    Here is an insight into how D2C brands can use data in e-commerce for the understanding of the target market to increase their E-commerce sales.
    StartupTalkyPreeti Karna

    ● Leveraging Social Media: Social networking is a strong tool for new businesses. Platforms like Facebook, Instagram, and Twitter can assist you in reaching an untapped worldwide audience and assist in developing a brand image in the market with existing competitors. Influencers have a strong and tailored hold on specific audiences, making them one of the newest and most powerful marketing tools. A product like a milk flavouring straw for kids, for example, can’t be directly promoted to them and is instead marketed to mommy bloggers and health bloggers. More than just following these trends, it takes a lot of work to create a solid revenue model for your business. Running a business at any stage of development is not easy. For this, it is essential to have proper planning. Here are some of the key takeaways that we believe can help these entrepreneurs make more informed decisions and develop more refined products, especially in the early stages of a business.

    How Are d2c Brands Leveraging Social Media to Boost Digital Presence?
    Social media is a great way to grow your brand. Here’s how D2C brands are leveraging social media to boost their digital presence.
    StartupTalkyArbaz Sayed

    ● Bring forward a solution: Consumers are smart these days, searching for products that solve their current problems. The most common reason for a startup’s failure is a lack of market demand. You have a market need if your product solves an unpleasant, common, and repeatable problem for a large number of people. If not, then it can be easily overlooked by the customers.

    ● Focus on the product: The product you create is what makes up the face value of your brand and it’s a crucial task to make your product stand out in the market. Your main focus should be to at least give your product a competitive edge over the current competitors, so it seems like a convenient and better choice.

    ● Detailed Research: Before starting a business, thorough market research is essential. You have to research current trends, learn about the product, and understand its potential market and what your customers need. It also allows you to visualise your competition by telling you what other products and services like yours are available, customer reactions to them, their prices; etc.

    ● Financial Modelling: Managing monetary resources can be a tricky part that needs close attention. It is essential to have a well-developed financial model. From funding operations to having precise financial projections for the next few years, having a robust financial model is crucial for a business to grow. Don’t mind taking professional guidance to help you out with these things to avoid any major setback to your business.

    ● Keep trying and learning: Starting a business requires being inspired, motivated and willing to take risks. While every successful entrepreneur makes many mistakes, that doesn’t stop them from experimenting with their concepts and learning from their own and others’ mistakes. With that said, care also needs to be taken so that there is no undue waste of resources due to this experimenting.

    Conclusion

    With more people choosing to be independent buyers due to fading technological barriers, we believe that D2C is here to stay. It is an exciting time for entrepreneurs in the country to enter the market, especially with the boom in the startup culture. The times demand that entrepreneurs rethink how they interact with customers and their relationships with them. If played well, D2C can be the most powerful weapon a retail-based entrepreneur can hold.

  • Traditional Business V/S Digital Business and Types of Business Models Used

    This post discusses the differences between traditional businesses and digital businesses. It also talks about the types of business models that come under these two forms of businesses.

    Managing a business is both challenging and interesting. It’s not like your 9-5 government job where one reaches the office at or before a particular time, does some mundane tasks, and then wraps up for the day at a fixed time. With business, everything takes a different turn. Inherent risks and the constant need to pacify customer requirements float in the business owners’ minds.

    A traditional business setup has a physical presence, and it serves people locally by providing services or products through brick-and-mortar stores. In case of a digital business setup, people sitting in any corner of the world can scroll through the web and avail the company’s services and products.

    What is Traditional Business?
    Types Of Traditional Business Models
    What is Digital Business?
    Types Of Digital Business Models
    Traditional Business V/S Digital Business

    Difference between Traditional Vs Digital Business

    What is Traditional Business?

    Organizations such as restaurants, agencies, and anything resembling an office-setup fall in this category. Traditional business-oriented organizations usually sell products or services through stores.

    A traditional business serves customers in exchange for monetary compensation. It works on CAPEX and OPEX. While such organizations focus on profit generation, a few of them—non-profit organizations—work for customers without expecting profits.

    Types Of Traditional Business Models

    Various types of business models used in traditional business are:

    Manufacturer

    The manufacturer business model utilizes raw materials to create products that are then sold in the market. This type of business model involves the assembly of pre-manufactured items. The products are either directly sold to the customers in what’s known as B2C model (business to customer), or to another business unit in the form of B2B model (business to business). Automobile manufacturers are an example of B2C model, and wholesalers follow the B2B model.

    Distributor

    A company in the distributor business model buys products directly from the manufacturer. The company then sells the procured products to consumers or retailers.

    Retailer

    A company following the retailer business model purchases products from the wholesaler/distributor. It then sells the inventory to the public. Brick-and-mortar stores fall in this category.

    Franchise

    In this setup, the company buys the franchise of a very successful brand and promotes the brand’s services/products to the general public. The franchise segment is a popular way to build awareness across geographies.

    Traditional And Digital Business Model 

    What is Digital Business?

    Digital business is the modern form of business, a significant deviation from the established norm. This model leverages technology for value creation & addition, thereby giving an entirely different customer experience.

    The umbrella term includes both digital-only brands as well as traditional businesses that use modern-day innovations. Prominent examples of digital businesses are Uber, the cab-owning service which allows the user to book cabs online, Disney+Hotstar, and Netflix (video streaming service).

    Types Of Digital Business Models

    Types of the business model used in digital business are:

    Basic

    Small businesses fall in this category. With a small presence on digital platforms, such ventures rely on traditional marketing methods like direct mail and print advertising.

    Intermediate

    A level where small businesses employ tools like websites with basic functionality; these sites don’t have e-commerce or mobile rendering capabilities. Other factors like listing in online directories and third-party marketplaces play a major part here.

    Advanced

    Advanced websites with mobile app versions or e-commerce abilities are used by digital businesses in this category. The reliance on Social media engagement is quite significant. Video conferencing, SAAS apps, etc. are part of the toolkit.

    This model is the epitome of digital business. Such ventures have high social media visibility, have little or no physical presence (as in brick-and-mortar stores), and engage with customers extensively through the internet.

    Traditional Business V/S Digital Business

    Traditional Vs Digital Business
    Traditional v/s Digital Business

    There are various differences between traditional business and digital business which are listed below:

    • The traditional business model requires more capital than its digital counterpart. The former needs place, furniture, transport, staff, and other utilities. Digital businesses are cost-effective in this aspect.
    • A business unit following the digital approach is convenient for customers in terms of the flexibility offered in the variety and cost of products (consider Amazon’s extensive product catalog). In the traditional setup, rigidity is a major issue. As a result, consumers are now inclined towards shopping online.
    • The digital business model is yet to achieve perfection when it comes to real-time customer experience. For example, you can’t try a mobile phone before purchasing it from Amazon. You rely on customer reviews and the specifications listed on the website. This obstacle is overcome in the traditional business model.
    • Online businesses tend to have a larger digital market spend than their old-school counterparts. Traditional businesses diversify marketing strategies to attract customers from both local areas and online demographics. But their reach is relatively restricted to digital businesses.
    • Digital businesses work 24/7 and overcome both geographical and timing barriers. You can carry out online purchases in the middle of the night from anywhere in the world.
    • Organizations based on the traditional business model have restrictions on when and where they function. Timings are rigid and customer service isn’t flexible either. There are exceptions where few traditional business operates 24/7, but those are limited in numbers and function in select locations only.

    FAQs

    What is the difference between traditional business and digital business?

    A traditional business setup has a physical presence, and it serves people locally by providing services or products through brick-and-mortar stores. In the case of a digital business setup, people sitting in any corner of the world can scroll through the web and avail the company’s services and products.

    Why is online business better than traditional business?

    Digital businesses work 24/7 and overcome both geographical and timing barriers. You can carry out online purchases in the middle of the night from anywhere in the world. Traditional business has restrictions on when and where they function.

    What is traditional business?

    Organizations such as restaurants, agencies, and anything resembling an office-setup fall in this category. Traditional business-oriented organizations usually sell products or services through stores.

    What are traditional business models?

    Types of Traditional Business Models:

    • Manufacturer: The manufacturer business model utilizes raw materials to create products that are then sold in the market. This type of business model involves the assembly of pre-manufactured items.
    • Distributor: A company in the distributor business model buys products directly from the manufacturer.
    • Retailer: A company following the retailer business model purchases products from the wholesaler/distributor. It then sells the inventory to the public. Brick-and-mortar stores fall in this category.
    • Franchise: In this setup, the company buys the franchise of a very successful brand and promotes the brand’s services/products to the general public. The franchise segment is a popular way to build awareness across geographies.

    What is the difference between traditional and non-traditional business?

    The major difference between traditional and non-traditional business are:

    Traditional

    Standalone stores, retail spaces in malls, and any other type of place that houses a usual location for a given franchise fall under the category of traditional businesses.

    Non-Traditional

    Non-traditional businesses conduct most of their operations over the internet. They might have a few physical stores but these are generally for resolving customer issues and function as a point-of-contact.

    What are the types of ECommerce Business models?

    Four Traditional Types of Ecommerce Business Models are:

    • B2C – Business to consumer
    • B2B – Business to business
    • C2B – Consumer to business
    • C2C – Consumer to consumer

  • Who will be the next Global Leader of Cheap Labour?

    There is a unique kick in Unboxing something new, a new gadget, a new parcel because it has a sense of surprise in it. India is a country of festivals and we absolutely love to shop but have you ever wondered how these goods are made ? How do they land in the package ready to be used ? How are we able to get dreamy-deals that save us money ? There is a lot of behind the scenes of making a product, packaging the value in a box.

    In a world as fast as ours, we tend to forget the process and focus mainly on the outcome. This article talks about a product process and how a brand manages to save costs with countries with cheap labour. We will also discuss Pakistan as an emerging nation with cheap labour.

    What is Labour?
    Global sourcing of Labour
    Cheap Labour and its History
    China: The world’s factory
    Cheapest Countries in Asia
    The land of Pakistan
    Is Pakistan the new heir?
    Digital or Online Labour
    Pakistan and Digital Labour
    FAQ

    What is Labour?

    It is said that Labour is handicapped without capital, and our capital is handicapped without labour. The word labour has direct relations with inputs that we put in to get some final product.

    Labour can have many dynamics like mental, physical or social efforts that are required to manufacture something. Essentially on the basis of skillset, labour are of two types – Skilled, Unskilled and in some cases even Semi-skilled.

    As the name suggests they are categorised on the basis of skills and training required to make them work effectively. Unskilled labour is the cheapest form of labour and is required to do work that does not require any sort of training.

    Global sourcing of Labour

    The initial motive of global sourcing of labour is cost savings. With the progress of globalisation, product differentiation in contemporary markets is not that remarkable anymore, to some extent, which leads to a greater emphasis being placed on price competition.

    This has especially been the case with consumer products. Besides cost savings, plenty of studies have also identified quality and availability as critical aspects for global sourcing

    Cheap Labour and its History

    In every society around the globe, employers try to follow the downward trend of cost of labour. Thus, saving themselves the most capital. They pinpoint some stratum of people who are the most vulnerable and employ them with low wages.

    This topic can go further to the ‘apartheid’ faced by the South Africans in contrast to white population. Their wages were as low as one-fourteenth of white counterparts even when they comprised around 80 percent of the total population.

    Government implementing racist policies, commended employers with greater power over this section of workers. Which in turn employed discrimination among the general public.

    Another method employers follow is ‘De-Skilling’ which means to eliminate a skill that is required for a job. Making it easy for a worker to be replaced. This drives down labour cost.

    New technologies are also a way to increase competition among workers resulting in less wages. This makes the labour cheap and employers end up with more surplus. These are the usual cases in the world of manufacturing but there are some more natural ways on how labour can be cheap.

    Factors like economic development, growth of a nation and per capita income of citizens of the country matters in determining the cost of labour. China has been a global player.

    China: The world’s factory

    China is considered as a factory for the whole world, the reason being the huge population and cheap availability of labour. This trend was followed for a long time and now it is up for a spin. The world demographics are changing and we are witnessing a downward trend in the employability of labour, the prime reason is rising labour costs.

    Due to rising demands of people and rising cost of goods, China is not prized as the ‘cheapest’ country to produce goods anymore. Moreover this phenomenon has led some foreign countries to exit the country and find their nest somewhere else. There are several reports on how the trend is moving.

    According to one Report, it is observed that hourly rates in Mexico are lower than that of China. This might not be good news for monopolist China but it is surely good for developing countries where labour is relatively low.

    Cheapest Countries in Asia

    When the world’s factories are becoming a little expensive, the biggest players in the manufacturing sector are looking for a shift. The new home should obviously be cost effective. To answer this question satisfactorily, we will have to look through a lens of cost. The cheapest countries in the largest continent of the world i.e. Asia are listed below –

    • India
    • Pakistan
    • Nepal
    • Sri Lanka

    Included a Forbes article. This essentially shows where the manufacturing giants could move their base to. The list coincides with the trends that we see every other day, like Tesla coming to India, Apple pondering over ideas to start a manufacturing unit in India, Pakistan becoming the next hub for cheap labour in the world and much more. These are the hotspots where new industries are eyeing for better sustainability.

    The land of Pakistan

    Pakistan is the fifth most populous country in the world with a population of over 200 million. These statistics make it an important player in the world. Several studies have concluded that the country entails a good number of workers and manpower. With these numbers we can safely say that the country is rich in workforce.

    Is Pakistan the new heir?

    A populous country as Pakistan with abundance of labour seems a good choice for industries all over the world. The abundance can be a signal of cheap labour that can be used to produce goods and services with ease and with better efficiency.

    Salman Shah of ‘Taskforce on Textile’ during the TEXPO-2019 seminar mentioned that a recent survey concluded that the labour unit in their work in this domain is much cheaper than that of the dominant China. The textile expo (TEXPO) also witnessed clothing brands‘ total presence and active participation during the event.

    Moreover, rather than dismissing it as an impediment, we can use this unique aspect as a benefit for our nation. He also mentioned that this trait can become very useful when we talk about China-Pakistan economic corridor projects. Cheap labour in Pakistan can help build a soft spot for the country in the world where it already faces other economic and relational issues.

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    Digital or Online Labour

    What is digital labour? How is it different from online labour ? these questions might be popping in your head. The funny thing is that it is easier to understand. There is a famous quote that goes like this – “Software is eating the world”

    Almost all people on this planet are witnessing this (Except fewest of third world places) phenomena. We live in a digital era and we work digitally. You are reading this blog on a mobile or other device digitally. So you can easily see the blanket of technology that the world is wearing right now. It’s beautiful and gives us a sense of abundance.

    Examples of digital labor might include on-demand platforms, micro level of working and data generated by users of digital platforms like our favourite, social media. Digital labor generally describes work that entails a variety of online tasks. If a country has the structure to maintain this kind of digital economy, then this form of labour can incubate income for citizens without the limits of physical obstacles.

    Christian Fuchs cites that of the world’s 2,000 largest transnational corporations 11.6% fell under the umbrella of communications and digital media. Tech companies like Google, Amazon, etc. are shaping the economy in exciting ways.

    Pakistan and Digital Labour

    Online Labour Supply
    Online Labour Supply

    A report by the International labour organisation concluded that Pakistan already is the third largest provider of labour for digital or online platforms globally. The report also mentioned that India is the biggest labour supplier. Digital labour can be categorised in two types, location based and online web based.

    The web-based platforms are defined in which tasks are performed online or remotely by workers without being physically present. “These tasks may include translation, legal work, financial and patent services, designing and software and freelancing.

    Location-based platforms on the other hand are those done in person in specified physical locations by employees. These can include taxi driving, delivery services and home improvement (plumber or electrician), domestic labour and caretakers.

    Conclusion

    We are witnessing a decline in the Chinese empire of cheap labour. This is true for sure. While companies search for alternatives for meeting their manufacturing demands, Pakistan is going to be seen.

    On the other hand, India is a big player and it will shine in the search of  manufacturers to find a better place. However, the filter of cheap labour is sharp enough to cut India from the picture and put Pakistan in the spotlight. Who will rule this industry is hard to say because there are a lot of variables involved.

    Variables like globe conditions, Pakistan’s relations with the world and need shifts of brands. We live in a beautiful world of change and numerous probabilities. We can study numbers to tell a story but the reality may unfold in its own fashion.

    FAQ

    Is China still the Low Labour cost country?

    No, due to the rising demands of people and the increase in the cost of goods, China is no longer regarded as the ‘cheapest’ country to manufacture goods anymore.

    Is Indian Labour cheaper than China?

    The hourly wages in India are five times less than in China.

    Can Pakistan become the next cheap labour country for the world?

    Yes, Cheap labour force in Pakistan can help attract foreign industrialists.

  • Gary Vaynerchuk – Trailblazer of Modern-day Social Media Marketing

    Gary Vaynerchuk is a Belarusian-American entrepreneur, you might have stumbled upon Gary’s motivational videos while seeking for some motivation on YouTube. The estimated net worth of Gary Vaynerchuk in 2021 is $200 million.

    Gary has a YouTube channel that goes by Gary Vee and he currently has over 3 Million subscribers on YouTube. Gary Vaynerchuk is the chairman of VaynerX, a modern-day media and communications holding company and an active CEO of VaynerMedia, a full-service advertising agency servicing Fortune 100 clients across the company’s 4 locations. He is also the co-founder of Resy and Empathy Wines.

    Gary Vaynerchuk – Biography

    Name Gary Vaynerchuk
    Born 14 November 1975 – Babruysk, Belarus
    Age 45 years
    Citizenship American
    Education North Hunterdon High School, Bachelor’s degree- Mount Ida College in Newton, Massachusetts
    Title CEO at Vayner Media
    Board Member Bojangles
    Net Worth Approx $200 Million (2021)
    Startup Name Vayner Media
    Founded on 2009
    Headquarter New York
    Subsidiaries Betabox, LLC, VaynerMedia New York
    Parent organization VaynerX, LLC

    Read on to know more about the Gary Vaynerchuk biography here:

    Gary Vaynerchuk- Childhood & Adult Life
    Gary Vaynerchuk – Education
    How Gary founded Vayner media
    Vayner Media – Growth
    Gary Vaynerchuk – Networth
    The #AskGaryVee Show
    Gary Vanerchuk – Investments
    Gary Vaynerchuck – Books
    Gary Vaynerchuk – Quotes
    Conclusion
    Gary Vaynerchuk – FAQs

    Gary Vaynerchuk- Childhood & Adult Life

    Gary Vee’s Childhood was filled with entrepreneurial passion.

    Gary and his family immigrated to the US from Belarus in 1978. He lived with his family of 8 in a small studio apartment. He had entrepreneurial passion within him since his childhood, at the age of 7 he used to sell lemonade at lemonade stalls, at the age of 14 he sold baseball cards in his school. When Gary realized that internet was an opportunity he shifted his dad’s wine business online resulting in the first e-commerce platform for alcohol in the country. Gary renamed his dad’s business to the wine library and during his tenure, he grew his dad’s business successfully from $3 Million to $60 Million.

    Gary Vaynerchuk – Education

    Gary graduated from North Hunterdon High School after which he finished his bachelor’s degree from Mount Ida College in Newton, Massachusetts in 1998.

    How Gary founded Vayner media

    During his time in wine library, Gary started a show on YouTube called wine library TV in 2006, he released episodes every single day for nearly 5 years. In 2009 after walking away from wine library TV, Gary and his brother founded Vayner media, an Agency that focused on helping brands promote their stories on social media.

    Securing early clients like the New York Jets, and the NHL allowed them to scale at a rapid pace, outgrowing three offices, and scaling to over 500 employees in just six years. Just 9 years later, Vayner media now has more than 800 employees, servicing clients such as Pepsi Co, GE, Johnson and Johnson, Chase, AbInBev, and more.

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    Vayner Media – Growth

    When Gary and his brother AJ founded Vayner Media in 2009, they had limited understanding of the media industry but they were committed from day 1 to a long-term view. Gary true to his DNA never raised startup funding and started the business in a conference room.

    The work culture at Vayner media is quite diverse than other media companies. The companies culture largely focuses on empathy employee. VaynerMedia actively seeks to empower employees to be themselves, feel comfortable and empowered at work, and expel nonconstructive people, ego, and politics from the workplace. Vayner media grew from 30 employees to total of 1000 employees in 2019.

    Vayner Media

    In 2017, VaynerMedia entered the publishing space by acquiring premier women’s magazine PureWow under the Gallery Media Group and restructured into VaynerX. In the summer of 2018, the second media brand under the Gallery Media Group umbrella, men’s lifestyle brand ONE37pm was launched.VaynerMedia now represents Fortune 500 clients like General Electric, Anheuser-Busch InBev, and Pepsi-Co, and recently announced their move to Hudson Yards, Manhattan’s hotly-anticipated, multi-billion dollar development.

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    Gary Vaynerchuk – Net Worth

    The estimated net worth of Gary Vaynerchuk in 2021 is $200 million.

    The #AskGaryVee Show

    In 2014, after spending two years Gary built his own personal content production team – a (semi) daily YouTube show called The #AskGaryVee Show, in this show he takes on questions from people on Twitter and Instagram and responds to them. This strategy worked for him in building his way for follow-on content on sites like Medium, LinkedIn, Inc, and Huffington Post.

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    Gary Vanerchuk – Investments

    Gary has been an active investor in various domains. Here is the list of Latest investment made by Gary.

    Gary vaynerchuck
    Latest Investments of Gary Vaynerchuck_Startuptalky

    Gary Vaynerchuck – Books

    Gary Vaynerchuck has written 8 books and he is 5X best selling author of NewYorkTimes. He has written books about business and entrepreneurship which every entrepreneur must read. Some books by Gary Vee are:

    1.Crush It!: Why Now Is the Time to Cash in on Your Passion by Gary Vaynerchuk

    2. Jab, Jab, Jab, Right Hook: How to Tell Your Story in a Noisy World by Gary     Vaynerchuk

    3. The Thank You Economy by Gary Vaynerchuk

    4. #AskGaryVee: 437 Questions & Answers on the Current State of     Entrepreneurship, Business Management, Monetization, Media, Platforms, Content, Influencer Marketing, Investing, Leadership, Legacy, Culture by Gary Vaynerchuk

    5. Crushing It by Gary Vaynerchuk

    6. Gary Vaynerchuk’s 101 Wines: Guaranteed to Inspire, Delight, and Bring Thunder to Your World Gary Vaynerchuk

    7. Unti Vaynerchuk Book by Gary Vaynerchuk

    8. Sideways: A Decade Under the Influence of the World’s Greatest Wine Story: Tenth Anniversary Collectors Edition

    Gary Vaynerchuk – Quotes

    Famous Quotes by Gary Vaynerchuk

    “Love your family, work super hard, live your passion.” …

    “It took thirty-eight years before 50 million people gained access to radios…

    “life shrinks and expands on the proportion of your willingness to take risks and try new things.” …

    “I put zero weight into anyone’s opinion about me because I know exactly who I am”

    Conclusion

    Gary Vaynerchuk is a great personality that every aspiring entrepreneur must look up to, Gary is a Businessman- a dude that Loves the hustle and an internet personality. Gary vaynerchuck has repeatedly affirmed his dream to purchase the NewYorkJets – currently the Most valuable and the Best NFL team.

    Gary Vaynerchuk – FAQs

    What business does Gary Vee own?

    Gary, along with his brother AJ Vaynerchuk, founded VaynerMedia, a social media–focused digital agency in 2009.

    Does Gary vee own the New York Jets?

    No, Gary does not own New York jets but he aims to one day.

    What is Gary Vaynerchuck famous for?

    Vaynerchuk is best known for his work in Digital Marketing and Social Media as the chairman of New York-based communications company, VaynerX, and as CEO of VaynerX subsidiary, VaynerMedia.

    How much did Gary Vee invest in Facebook?

    He was impressed with Facebook and  believed in the business model—“the ads on it worked.” In 2009, when the social network was still private Gary Vee invested $200,000.

    How much did Gary Vee invest in Uber?

    He made a $100,000 investment in 2012.

    Where does Gary Vaynerchuck live?

    Gary Vee lives in New York.

    Who is Gary Vee married to?

    Gary is married to Lizzie Vaynerchuk since 2004.

  • Siemens – German Technology that is Taking Over the World

    Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by Siemens.

    Siemens Limited is a holding company engaged in the manufacturing of electric motors, generators, transformers and electricity distribution, and control apparatus; general purpose machinery, and electrical signalling, safety or traffic-control equipment.

    Its segments include Power and Gas, providing solutions for generation of electricity; Energy Management, supplying services for transmission and distribution of electrical energy; Building Technologies, providing buildings and infrastructures; Mobility, supplying solutions for passenger and freight transportation; Digital Factory, including software solutions and automation technologies; Process Industries and Drives, providing solutions and services across life cycles for industry sectors; Healthcare, providing technology for healthcare industry; Metals Technologies, providing metallurgical plant building technology catering services, and design and engineering, and Others, including services provided to group companies and lease rentals.

    Siemens – Company Highlights

    Startup Name Siemens AG
    Headquarters Munich, Germany
    Industry Conglomerate
    Founder Werner von Siemens, Johann Georg Halske
    Founded 1 October 1847
    Current CEO Roland Busch (Feb 2021)
    Areas served Worldwide
    Website www.siemens.com

    Siemens – About and How it works?
    Siemens – Founder and History
    Siemens – Logo and its Meaning
    Siemens – Mission
    Siemens – Business Model
    Siemens – Growth and Revenue
    Siemens – Funding And Investors
    Siemens – Investments
    Siemens – Acquisitions
    Siemens – Competitors
    Siemens – Challenges Faced
    Siemens – Future Plans

    Siemens – About and How it works?

    Siemens AG is a German multinational conglomerate company headquartered in Munich and the largest industrial manufacturing company in Europe with branch offices abroad.

    Siemens multinational company is a global technology powerhouse that brings together the digital and physical worlds to benefit customers and society. The company focuses on intelligent infrastructure for buildings and decentralized energy systems, on automation and digitalization in the process and manufacturing industries, and on smart mobility solutions for rail and road transport.

    The principal divisions of the company are Industry, Energy, Healthcare (Siemens Healthineers), and Infrastructure & Cities, which represent the main activities of the company. The company is a prominent maker of medical diagnostics equipment and its medical health-care division, which generates about 12 percent of the company’s total sales, is its second-most profitable unit, after the industrial automation division. The company is a component of the Euro Stoxx 50 stock market index. Siemens and its subsidiaries employ approximately 385,000 people worldwide and reported global revenue of around €87 billion in 2019 according to its earnings release.

    Siemens – Founder and History

    Siemens & Halske was founded by Werner von Siemens and Johann Georg Halske on 1 October 1847.

    Founders of Siemens
    Founders of Siemens

    Based on the telegraph, their invention used a needle to point to the sequence of letters, instead of using Morse code. The company, then called Telegraphen-Bauanstalt von Siemens & Halske, opened its first workshop on 12 October.

    In 1848, the company built the first long-distance telegraph line in Europe; 500 km from Berlin to Frankfurt am Main. In 1850, the founder’s younger brother, Carl Wilhelm Siemens, later Sir William Siemens, started to represent the company in London. The London agency became a branch office in 1858. In the 1850s, the company was involved in building long-distance telegraph networks in Russia. In 1855, a company branch headed by another brother, Carl Heinrich von Siemens, opened in St Petersburg, Russia. In 1867, Siemens completed the monumental Indo-European telegraph line stretching over 11,000 km from London to Calcutta.

    In 1867, Werner von Siemens described a dynamo without permanent magnets. A similar system was also independently invented by Charles Wheatstone, but Siemens became the first company to build such devices. In 1881, a Siemens AC Alternator driven by a watermill was used to power the world’s first electric street lighting in the town of Godalming, United Kingdom. The company continued to grow and diversified into electric trains and light bulbs. In 1887, it opened its first office in Japan. In 1890, the founder retired and left the running of the company to his brother Carl and sons Arnold and Wilhelm.

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    Siemens – Logo and its Meaning

    Introduced in 1936, the new logo is executed in a modern yet simple sans-serif typeface, which is very similar to such fonts as Dialogue Pro Extra Bold and Lucida Grande Black.

    Logo of Siemens
    Logo of Siemens

    As for the colour palette of the Siemens visual identity, there are three options of using its logotype: tender and light turquoise, which is the main colour of the brand, evoking a sense of safety, reliability, and calmness; light grey, which stands for confidence and seriousness, and black, which is the colour of power and elegance.

    Siemens – Mission

    Siemens’ mission statement: Responsible: Committed to ethical and responsible actions with respect to legal and ethical standards. Excellent: Achieving high performance and excellent results from ambitious targets derived from vision and verified by benchmarks. Innovative: Being innovative to create sustainable value.

    Siemens – Business Model

    The Siemens Business model is divided into the following five main sectors and 19 divisions. Briefly, these are:

    • Industry – This sector includes Industry Automation, Drive Technologies and Customer Services divisions.
    • Products and services – Products in this category include building automation equipment and systems, building operations equipment and systems, building fire safety equipment and systems, building security equipment and systems, motors and drives for conveyor belts, pumps and compressors, heavy-duty motors and drivers for rolling steel mills, compressors for oil and gas pipelines, mechanical components, automation equipment and systems for production machinery and tools and industrial plants for water and raw material processing.
    • Energy – This sector includes Fossil Power Generation, Wind Power, Solar and Hydro, Oil and Gas, Energy Service and Power Transmission divisions. The company earned 26.6 billion Euros in Revenue in 2013. At present, it employs about 83,500 employees.
    • Healthcare – This sector includes Imaging and Therapy Systems, Clinical Product, Diagnostics and Customer Solutions divisions. The business unit is based in Erlangen, Germany with regional presence in different areas around the world. The company formally became Siemens Medical Solutions in 2001 and Siemens Healthcare in 2008. The company employs 49,000 employees with a larger concentration based in Germany.
    • Infrastructure and Cities – This sector comprises the Rail Systems, Mobility and Logistics, Low and Medium Voltage, Smart Grid, Building Technologies and OSRAM. This sector works towards solutions for urban mobility, environmental protection and energy conservation. The company employs close to 87,000 employees.

    Siemens – Growth and Revenue

    Siemens AG revenue for the twelve months ending June 30, 2020 was $80.401B, a 17.09% decline year-over-year.

    Year Annual Revenue Percentage change
    2019 $98B -0.87%
    2018 $98.856B +7.73%
    2017 $91.761B +3.87%

    Siemens – Funding And Investors

    Siemens funding has raised a total of $5.2 Billion in funding over 2 rounds. Their latest funding was raised on Mar 15, 2018 from a Post-IPO Equity round.

    Announced Date Round Amount
    Mar 15, 2018 Post-IPO Equity – Siemens €4.2B
    Jul 19, 2010 Grant – Siemens $8.9M

    Siemens – Investments

    Siemens has made 24 investments. Their most recent investment was on Apr 28, 2020, when Amply Power raised $13.2 Million.

    Date Organization Name Round Amount
    Apr 28, 2020 Amply Power Series A $13.2M
    Nov 28, 2018 ChargePoint Series H $240M
    Jun 11, 2018 Claroty Series B $60M
    Jun 1, 2018 ScreenPoint Medical Venture Round €4.3M
    May 15, 2018 Northvolt Venture Round €10M
    Nov 14, 2017 ubitricity Corporate Round –
    Oct 1, 2017 Exchangium Seed Round $900K
    Aug 16, 2017 Swinburne University of Technology Grant $135M
    Jun 28, 2017 ChargePoint Series G $43M
    May 2, 2017 Bonsai Series A $7.6M

    Siemens – Acquisitions

    The Siemens acquisitions list is long as they have acquired 69 organizations till date. Their most recent acquisition was Abacus Medicine on Jul 15, 2020.

    Acquiree Name Date Amount About Aquired Company
    Abacus Medicine Jul 15, 2020 – Abacus Medicine is a large and growing business, a company where diversity is treasured
    UltraSoC Technologies Jun 24, 2020 – UltraSoC Technologies provides SoC infrastructure to enable rapid development of embedded systems
    Controls and Switchgear Ltd. Jan 24, 2020 $297M Controls and Switchgear Ltd. is a producer of electrical power distribution and switching systems
    MultiMechanics Nov 15, 2019 – MultiMechanics is a CAE software company
    Process Systems Enterprise Sep 16, 2019 – Process Systems Enterprise provides engineering and innovation services to the process industries
    ESTEQ Jun 11, 2019 – ESTEQ is a distributor of product lifecycle management, product design and simulation, and manufacturing operations software and services
    Mendix Aug 1, 2018 $700M Mendix is the fastest and easiest high-productivity platform to create and continuously improve multi-channel applications at scale
    Comfy Jun 26, 2018 – Comfy connects people, places, and systems through one intuitive workplace app
    Austemper Design Systems Jun 22, 2018 – Austemper Design Systems is an electronic design automation tools company that provides a comprehensive tool-suite
    J2 Innovations May 17, 2018 – J2 Innovations is the creator of FIN Framework, an advanced, open, customizable software platform for building automation & IoT applications

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    Siemens – Competitors

    Siemens’s top competitors include Schneider Electric, ABB, General Electric, Toshiba, Bosch, BHEL, Mitsubishi Electric and Philips.

    Siemens – Challenges Faced

    • A big issue was initially Siemens had Group Presidents that were also members of the overall firm’s managing board, which can present a conflict of interest. It is not customary for firms to have members of the board that are also sitting in positions of power within the company. It can make it difficult to be able to provide an un-bias opinion on controversial issues or decisions to be made at a corporate level.
    • There seemed to be a lack of structure within the corporate departments within the company. There were far too many groups and sub-groups in the corporate centre. There were five corporate centres, as well as five sub-corporate centres. This is seemingly an excessive number of departments within departments that can cause immense communication disconnects.
    • Siemens profit was stagnant for a period, despite a significant increase in sales. This was a major concern of shareholders. There is usually a problem if a business plan consists of improvements in sales, but not much improvement in profit over a prolonged period of time.
    • The top+program, while effective, was still missing something to help with the corporate environment of Siemens. Siemens still had somewhat of an unstable environment as a whole on the corporate level. Although the top+ program was implemented, there still were gaps in which Siemens could improve.
    • A more inclusive program needed to be developed, to still include the initial base of top but also detailing additional necessary strategies. This was part of Siemens’ projected plans throughout the 10-year period. However, many of the developed programs did not succeed as the initial program did. Therefore, they were constantly changing and not providing a stable plan for the company.

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    Siemens – Future Plans

    When you think of a German multinational engineering and electronics conglomerate company, you immediately think of Siemens. The company decided to enhance its capability to respond rapidly to the increasing number, scale and complexity of Internet threats. This was also an opportunity to simplify its network and security operations to enable faster and more effective response management.

    They have set 7 goals for the implementation of Vision 2020+.

    • Grow company value
    • Sharpen business focus Electrification, Automation and Digitalization
    • Be a partner of choice for our customers
    • Get closer to our markets
    • Live lean governance and drive continuous optimization
    • Be an employer of choice
    • Ignite pride and passion for Siemens through Ownership Culture

    Frequently Asked Questions – FAQs

    Is Siemens a British company?

    No, Siemens is a German company, headquartered in Munich.

    What does Siemens company do?

    Siemens is a conglomerate company which deals with anything from power generation, transmission and distribution to smart grid solutions and the efficient application of electrical energy to areas of medical imaging and laboratory diagnostics.

    What does Siemens AG stand for?

    Siemens AG stands for Siemens Aktiengesellschaft.

  • Qualifications for Becoming a Digital Marketer

    Digital marketing may have its own niche sector where the required credentials go beyond basic marketing techniques and innovative skills. If you are considering joining the digital marketing business, learning the skills needed and what digital marketers are doing is a good way to start.

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    What is a true definition of digital marketing?

    High-level digital marketing applies to ads distributed through digital platforms such as search engines, blogs, social media, email, and smartphone applications. Using these online media platforms, digital marketing is the process by which businesses promote products, services, and brands.

    What does Digital Channel Include
    What does Digital Channel Include

    How does it feel like to be a digital marketer?

    With the easy use of social media, digital marketing needs to consider user preferences and motivations, synthesize the analytics, and interact successfully with consumers. See what digital marketing is exactly, why a digital marketer is relevant, how he enters the industry and how he enters.

    Digital marketers are responsible for the marketing by one or more digital media outlets of products or brands, such as search engines, social media, e-mails, Blogs, and applications that connect with existing and future consumers.

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    How to become a good digital marketer?

    1. Writing and editing skills

    Content is central to digital marketing. The drafting and editing of blog posts and landing pages are more than just the creation of documents. This includes linking you to the goal population with the accompanying communications and persuading them to act.

    2. Social media skills

    You may also know social media ever since it first appeared you have been using it. However, a successful digital marketer recognizes that social media is more relevant than frequent and continuous blogging.

    Because marketers now use social media to reach their target audiences, the networks have grown greatly to address the demands of digital marketing. Social networking ads, newspapers, hashtags, corporate accounts, communities and more are available. Currently, a lot needs to be learned.

    Prepare yourself
    Prepare yourself

    3. Understand Design-Based Thinking & Planning

    Design Thinking is a concept that essentially refers to a process in which user-centered challenges can be addressed. It literally allows one to learn about large-scale, complicated topics in a human-centered way. Designers and developers probably have such a strategy, but it is useful to learn and apply it if possible even if you are not one.

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    4. SEO and SEM Skills

    When you don’t meet the right people, a well-published blog post or newsletter is worthless. Note that the techniques responsible for driving traffic to your site include search engine optimization (SEO), and search engine marketing (SEM). Greater knowledge of this ensures that the marketing plans are properly applied.

    The algorithm of Google continues to be updated, and the value that keywords can be used has hit a new high. As the global web is rapidly crowded every day, it is important to be informed and completely aware of the new changes and search ranking algorithms.

    Challenges
    Challenges

    What are their task and duties?

    Digital marketers may use the tools of their company to generate a return on investment with organic (Free) or paying platforms.

    Digital marketers work to obtain main KPIs for each channel to assess their output accurately through each channel. For example, a search marketer that analyzes traffic on their website and adapts campaigns and tactics accordingly.

    Task and responsibilities of Digital Marketers:

    • Plans and runs both web, SEO/SEM, marketing software, emails, social media, and promotional campaigns.
    • The social media presence is planned, built, and preserved.
    • Quality evaluations and reports on all digital marketing strategies and aim assessments (ROI and KPIs).
    • Identifies and optimizes expenditure and efficiency based on insights trends and insights.
    • Brainstorms digital marketing to build and establish innovative development tactics.
    • Plans conduct and measures conversion trials and evaluations.
    • Collaborates in the development and optimization of the customer interface for internal staff.

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    Qualification of Digital Marketers

    Now mainly let us focus on the qualification of a digital marketer:

    1. No formal credentials to become a digital marketer are required, but a certification or short course may be helpful.
    2. Consider graduation in marketing or business from a Certificate or Baccalaureate.
    3. Taking a brief online or on-campus digital marketing course to learn social ads and users’ skills
    Key to Success
    Key to Success

    Conclusion

    In summary, while no mandatory work certification is needed for digital marketing, you improve the odds of reaching the digital marketing challenge of your dreams exponentially by enrolling in and pursuing a renowned and well-rounded digital marketing course. Furthermore, you can achieve a real strategic lead on the market by earning qualifications in more advanced fields or competences.

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  • Digitalization Influencing Business Model Innovations

    Living in a dynamic era where speed and transformation is the key to victory, the call for better technologies comes into being. The most notable example of such a transformation is Digitalization. Digitalization means using digital technology in business models to generate income and value-producing opportunities. It is a process of shifting towards digital business. Digitalization can be seen in every segment. Digitalization is a mechanism for transforming all the sectors across the Globe.

    Digitalization in common terms means the way people socialize i.e., the movement of interaction through analog technology(phone, mails) to Digital ones(e-mail, chats, social media). The increase in digitalization has impacted various business activities, including firms’ business models(BM). Digitalization has put stress on companies to exhibit on their prevailing strategy and examine innovative business opportunities at the early stages.

    Value creation, value delivery, and value capture are the main aspects of any business. Thus, a combination of these features to create a system that delivers more value for both consumers and industry is termed as business model innovation.

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    Digitalization and Business Model Innovation Components

    Digital technology affects business and its various components in the business that are listed below:

    Digitalization & Value Creation

    Value creation refers to offering customers what they want that is customized services and products as per their preferences. Digitalization allows companies to revise or extend their products and services through IoT. Digitalization also helps in increasing customer value and reducing transaction costs. It lets companies create novel offerings.

    Digitalization & Value Delivery

    It illustrates how activities are employed to deliver the insured value. This includes delivery resources such as- support staff, online monitoring systems, etc. Digital business models require developing new capabilities. New business models require updating operational activities and processes for Global distribution. Companies need to develop scalable platforms that utilize modularity to deliver effectiveness and efficiency.

    Digitalization & Value Capture

    The value capture model is related to revenue and economic viability. Digitalization helps in enhancing internal processes that facilitate the firm to improve cost efficiency. It enables increased revenue streams. It has some negative impacts that are new and increased risks related to business innovations.Most of the models rely on leveraging digital connectivity to expand globally rather than on the physical movement of the good and fixed investments in the market.

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    Developments contributed to the rise of innovative business models:

    Connectivity

    Integration of people and businesses through digital technology is reducing the cost of acquiring data by enabling software features to deliver services to customers. The number of people connected to the internet is rising incredibly, while the number of connected devices is estimated at 21 billion by 2020.

    Data Analytics and AI

    Speedy advancements in data analytics and artificial intelligence are enabling companies to gain valuable insight into the global business and customers through the flow of data. This will give rise to employment for data analytics.

    Digital Platform

    The digital platform is fueling more than thirty percent annual growth in e-commerce, which is expected to reach $1 trillion by 2020. The concentration of buyers, sellers, and products on digital platforms lessens the cost of acquiring the customer base.

    Industry 4.00

    The new era of industrialization with advanced manufacturing capabilities such as- 3-D printing, advanced robotics, digital prototyping, and factory management systems are boosting productivity up to 30 percent and reducing the cost of labor.

    Protectionism & State Capitalism

    Protectionist barriers such as- tariffs, new procurement rules, and others are increasing the cost of cross-border trade. The increasing economic nationalism is forcing businesses to rethink their physical presence.

    Connected & Mobile Consumers

    Consumers are increasingly connected digitally. The rising popularity of pay-as-you-go business models is increasing for goods such as- automobiles,  agricultural equipment, and aircrafts engines. These changes are altering demand and setting expectations for the products as well as services.

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    The emergence of New Business Models In Digital Markets

    In digitalization, businesses interact with consumers through various web-based interfaces. The platform allows direct interaction with the end-users. It becomes challenging to classify the entire company into a specific type as digitized companies as they have more than one business line.

    Multi-sided Platforms

    Platforms that allow end-users to exchange and transact while leaving liabilities towards customers. Example- Uber, Airbnb, Amazon Marketplace, Facebook, Google, UberEATS.

    Resellers

    Businesses that acquire products from suppliers and resell them to buyers. In such a case, resellers decide the price of products. Example- Alibaba, Spotify, Tencent’s music distribution, Netflix.

    Vertically Integrated Firms

    Businesses with the ownership of suppliers integrate the supply side of the market. Example- Amazon e-commerce, Xiaomi, Huawei.

    Input Suppliers

    Suppliers of intermediary products use in production processes of goods or services in other firms. Example- Intel, Tsinghua Unigroup.

    Cross Border e-Commerce users(millions)

    The New Business Models

    These business models take benefit of the technological developments that make it less expensive to reach customers and provide services. The following models are leading among companies that are succeeding in the new era.

    Cross-border Servitization

    Manufacturers relied on the physical selling of products, but due to rising trade barriers, it becomes hard to increase the market size. Thus, by focusing more on delivering digital services, manufacturers are generating new growth opportunities. The growth of IoT and advanced data analytics are driving this trend. Rolls Royce Totalcare program is one of the examples of servitization.

    Asset Light Market Entry

    Increased digitalization provides greater digital connectivity, Global IT platforms, and all aforementioned makes it easier for companies to enter new markets with fewer investments. For example, Xiaomi uses platform based partnerships. By teaming up with local E-commerce company- Flipkart, it entered the Indian market. By offering low-cost phones, Xiaomi captured 11 percent of India’s smartphone market with a sale of $1 billion in two years.

    Global digital Systems

    Global Digital Business ecosystems deliver the most reliable technology, featured products, and accelerate commercialization. Google android provides functions such as tools for managing workflow and coordinated manufacturing operations.

    Global Personalization

    Technology is helping companies to deliver personalized experiences through digital platforms directly to customer’s connected devices. Example- Starbucks has tuned AI algorithms to personalize offers, rewards, and recommendations to its customers based on their purchased history.