Tag: impact

  • Video translation is a key factor in reaching a global audience for business

    Video content is becoming a major factor in deciding whether to buy a product or service. This is stated in a study “Future of Ecommerce” conducted by Shopify. According to analysts, 46% of consumers watch videos about the product before buying it. Therewith, 81% of companies plan to increase or maintain investment in live broadcasts to increase their sales by the end of 2022.

    According to a Demand Metric report, 83% of marketers believe that video is more important today than ever. This is confirmed by WYZOwl statistics, according to which 87% of companies use video as a marketing tool.

    The streaming video market is projected to reach $ 972.31 billion by 2030, growing by 18.1% CAGR – Market Research Future reports. An indisputable factor in this growth is the globalization of marketing strategies of brands that seek to expand their audience to new markets.

    The global economic landscape opens up many opportunities for the expansion of foreign business. However, linguistic and cultural differences are major obstacles to international success. Thus, in the EF Education First study in partnership with the Economic Intelligence Unit, more than 49% of executives of international companies admitted that misunderstandings in communication were an obstacle to signing large business agreements and led to significant losses. In this context, the growing market for the translation industry and artificial intelligence software for automatic online video translation is becoming apparent. Such technologies enable international companies, educational organizations, bloggers and media representatives to scale their content and business around the world.

    As the video format actively displaces all other sources of information and ranks first in the world, high-quality video translation and localization is becoming increasingly popular. The most common video localization strategies are subtitles and dubbing, each of which has its advantages in a particular market. To successfully expand one’s presence, one should pay attention to the format of localization in each market. For example, people in many European countries (namely France, Germany, Italy and Spain) prefer duplicate content due to historical factors and ease of listening to duplicate videos. However, their Scandinavian neighbors (Sweden, Denmark, the Netherlands, Norway) usually prefer subtitles. The Asian market, according to IndieWire, chooses dubbed content. This is explained by the predominant consumption of content by users on smart devices in combination with the simultaneous performance of other tasks. In the United States, according to Statista, 59% of American adults prefer to watch dubbed movies than watch the original with subtitles.

    In response to the growing demand for high-quality, fast and affordable video translation, duplication solutions have begun to appear on the market, including from technology giant Silicon Valley. In March 2022, it was announced the launch of a new product from the internal incubator Google Area120 – “Aloud”. According to the developers, with the help of Aloud, content creators will be able to duplicate their videos in several languages. At the moment, the service, which is designed to “overcome language barriers”, is not available to a wide range of users.

    Another project differs in its philosophy – online video translator Vidby, launched in Switzerland in 2021 and available for use. As founders Oleksandr Konovalov and Eugen von Rubinberg point out, “We are not just overcoming language barriers, we are creating comprehension technologies while preserving the world’s linguistic diversity.” The service offers video translation in 70 languages ​​with up to 99% accuracy thanks to artificial intelligence (subject to post-editing of the original language within 24 hours after automatic recognition). If you just need to understand or convey the general content of the video or translate the necessary fragments – just use the automatic recognizer with an accuracy of 80%. It only takes 1-2 minutes of waiting for 1 minute of video.

    Thus, reaching more customers in different parts of the world through video localization means strengthening the global business presence. Speaking to the target audience in one language is not just a metaphor. There is a clear correlation between the language of the content you show customers and the likelihood of making a purchase. Representatives of the Common Sense Advisory conducted a survey and found that 72% of consumers are more likely to buy goods with information in their native language, and 56% of respondents said the opportunity to receive information in their native language is more important than price.

  • 10 Dos and Don’ts of Starting an eCommerce Business in 2022

    With technological advances and digital platforms showing no signs of slowing, the eCommerce industry is proliferating quickly. For those itching to start a business, the odds are ever in your favor with eCommerce creating more accessible business models for the everyday person. However, with more opportunities comes more intense competition. To succeed in the eCommerce space and out-sell your opposition, you’ll need dedication, hard work, and a progressive mindset.

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    Here are the top-ten dos and don’ts of starting an eCommerce business in 2022.

    Here’s what not to do

    Before getting started in eCommerce, there are a few things you should avoid doing if you want to be successful.

    Don’t rely on a PO box for your return address

    Unfortunately, PO boxes are not ideal for those starting up an eCommerce business because of size and LLC registration restrictions. However, online business owners can sign up for a virtual PO box to bypass traditional post office confines, allowing for oversized items and swift returns.

    Virtual options are the perfect alternative for booming eCommerce businesses, offering staffed locations with a usable street address for your online store.

    Don’t give up right away

    Those diving into eCommerce will likely face unexpected waves along the way, resulting in setbacks and discouragement. However, those who face challenges head-on, refusing to give up, can scale hurdles and blow past the competition.

    It can be easy to feel discouraged—especially during the beginning stages. However, persevering through and leaning on seasoned entrepreneurs can help you reach success and long-term viability.

    Don’t try to do everything yourself

    One of the biggest mistakes when starting an eCommerce business is attempting to do everything yourself— an impossible task that could lead to burnout and quickly sabotage your business.

    Instead of overdoing your duties, learn to delegate tasks and build a team of reliable individuals who can help you with the day-to-day operations of your business. Whether you hire a virtual assistant, social media manager, or financial advisor, you’ll be happy you asked for help.

    Don’t overlook marketing

    Marketing is one of the most essential aspects of starting and running a successful eCommerce business. Yet, it’s also one of the most commonly overlooked factors.

    When creating an eCommerce business, investing time and money into high-quality marketing ploys will help you reach your target audience, build brand awareness, and generate sales.

    The best marketing channels for eCommerce businesses include search engine optimization (SEO), pay-per-click (PPC) advertising, social media marketing, and email marketing. So make sure you understand marketing tactics or hire advertising specialists to help scale your business to new heights.

    Don’t lose focus on what makes you unique

    Highlighting services and products that make you unique is critical in the oversaturated eCommerce space. There are thousands of businesses selling similar models and knock-off products, so finding a way to stand out among the crowd is critical for success.

    One way to catch consumers’ attention is by offering unique products that shoppers cannot find elsewhere, providing a high-demand service. Or, focus your efforts on delivering exceptional customer service to keep paying customers coming back.

    Here’s what you should do

    Now that you have a clear list of don’t-dos, here are a few things to prioritize if you want to succeed in the eCommerce space.

    Listen to your customers

    Your customers are your best source of feedback, giving you valuable insight into what services and products they do and don’t like. Additionally, customers illuminate future pursuits for your business, allowing you access to consumer needs.

    Always listen to your customers and take their feedback into account when adjusting products, services, or business models. Doing so will help you improve your commodities and create a culture of honesty, value, and cooperation with your customers.

    Use email lists effectively

    Email lists are an excellent way to stay in touch with your customers and promote new (and existing) products and services. Additionally, they’re a great source of revenue and can help to boost your bottom line over time.

    However, make sure you’re using email lists effectively by continually sending out relevant and targeted content without overwhelming your consumers with junk mail. In addition, you should segment them based on interests and purchase history, allowing you to send targeted emails that are more likely to be opened and clicked on instead of discarded.

    Lastly, regularly offering discounts and coupons in your emails will incentivize consumers to click on and frequent your online store.

    Remain true to your brand

    As your eCommerce business grows, remain true to your brand. Having a solid brand foundation and focus by maintaining high-quality products and advertising ultimately improves your customer service, marketing, and overall image.

    It can be tempting to appeal to a broader audience as you grow, but this can often lead to diluting your brand and losing sight of what made you successful in the first place. In addition, customers won’t understand why you’re changing and may start to look elsewhere for what they need.

    Invest in your website

    Your website is one of the most critical assets of your eCommerce business. It’s the first thing potential customers will see when they search for your business online, so make sure you invest in optimization services to rank higher on search engines.

    In addition, design your website to convert visitors into customers with easy-to-use features, strong product descriptions, consumer testimonials, and a powerful call-to-action (CTA).

    Never stop learning

    The eCommerce world is consistently evolving and shifting new gears. Digital tech is booming, marketing strategies are more involved, and new competitors enter the market every minute.

    As such, staying up-to-date with the latest industry news and trends is critical to remain afloat and keep up with opponents. In addition, prioritize consistent testing and experimenting with new ideas to help find new ways to improve your business and draw in consumers.

    Conclusion

    By following these helpful dos and don’ts, you’ll be on your way to success in the eCommerce space. Just remember to zero in on what makes your business unique, listen to your customers, and invest in a high-quality, user-friendly site to stay competitive and relevant.

  • Tips to make your work Laptop’s Battery last longer

    Many customers want to buy the longest battery life laptop once and don’t worry about the time you can spend without charging. But here is the bitter truth: no matter the brand, price, and other characteristics, every battery dies.

    At the same time, it doesn’t mean you can do anything. Experts in software development create useful solutions to help customers improve the work of their gadgets. Also, a user must pay attention to many issues: how many applications you install on your laptop and launch, what are your power settings, the particularities of your cooling system, etc. You may influence these indexes and take care of your gadget.

    As a result, you can do some actions to prevent your battery from dying early. You only need to understand the basics and follow expert recommendations. Find out how to increase battery life on laptop Windows 7 and use these tips to prolong your device’s offline work.

    Turn on the Battery saver mode

    The first step everyone should make is to activate the energy-saving mode. Many users are mistaken in believing this mode cuts the performance of your operating system. Actually, this is a smart system that controls how programs are installed on your laptop using its resources. As a result, you will notice no difference while using your gadget but its battery will last long. That’s the simplest method to have the best laptop battery life without installing external apps.

    All you need to activate this option is to click on the charge level indicator in the lower right corner of your monitor. You are proposed to select one of several modes. By selecting this option, you’ll get noticeable advantages even if your laptop is quite old-fashioned.

    Create optimal temperature

    Most laptops are equipped with lithium-ion batteries which aren’t used to very low or very high temperatures. Anyway, high temperatures could be quite dangerous and cause irreversible consequences. According to many studies and experiments, you can maximize laptop battery life by controlling the room temperature. It should be approximately 22 degrees. Such a climate guarantees that your battery will lose not more than 4% of its capacity.

    Don’t let the temperature increase up to 30 degrees because the battery will lose 20-30% of its capacity. The danger is you wouldn’t notice issues for a while but approximately in one year, your battery will require replacement.

    Disconnect peripherals you don’t use

    A laptop allows you to connect an external hard drive, webcam, mouse, second monitor, extra cables, and so on. But let’s be honest: you don’t need these peripherals all the time. Actually, every unit needs energy and takes it from your battery.

    That’s why you are highly recommended to unplug all tolls you don’t need for your daily needs. This step may seem obvious or unnecessary to people. But it is also known as one of the basic ways to increase your laptop battery life.

    Start charging your battery before it dies

    You can forget about time and battery indicators while working, chatting, or watching a movie. It happens with everybody. But you shouldn’t let such a situation happen too often. When your computer unexpectedly shuts down then all its elements are in danger. And the most dangerous situation happens with your battery.

    That’s why experts say you shouldn’t let your laptop die. The best you can do is to start charging your battery before its level goes 20% or less. Usually, customers see a system notification with a request to plug into your electrical supply.

    Make sure to have enough RAM

    We didn’t think that RAM has an influence on the battery life but it definitely has! According to Dell’s research and recommendations, your laptop battery will work better if you have enough random access memory to run all programs and complete all processes. If your computer can store data using RAM then it will have a positive influence on the battery life.

    So before you buy a laptop think about this feature. You can use modern technologies to increase laptop battery life but the great amount of RAM is a super useful thing.

    Don’t charge your battery more than 100%

    You may wonder if it is even possible to reach more than 100%. Well, no but you may use your laptop and have it plugged even after the battery is fully charged. Such an approach reduces the number of cycles ( charging and recharging) and cuts the life of a battery.

    So keep it simple: plug in your laptop when its battery power goes less than 20% and unplug it after it reaches 100% or even less. Don’t keep your device plugged at the time.

    Disable features you don’t need

    If you wonder what to disable to increase battery life on laptop then here is the list of your priorities. Please, follow these recommendations:

    • Turn down the brightness of your monitor;
    • Turn off Bluetooth and Wi-Fi;
    • Don’t run Windows sidebar gadgets;
    • Disable your display after 15-30 minutes of inactivity.

    Disable features if you don’t use them right now. Anyway, you can use all apps and processes while you need them. Don’t try to make yourself uncomfortable working on the laptop to save your battery. It’s important to find the balance between comfort and energy-saving mode.

    Keep an eye on your laptop battery

    It’s great to pay attention to your battery health time after time. Such a wise approach will help you to prevent huge issues and use your battery as long as possible. Replacing details costs much more than having fingers on the pulse of your device.

    You can run a standard utility or install a specific program on your laptop. Review reports once per month to see if everything is fine. If you see any service message you may need to check its functionality. Remember, that taking care of your laptop in advance guarantees its long life cycle.

    So now you know how to increase gaming laptop battery life without any harmful actions. Everything is so simple! Follow the listed above tips and long live your battery!

  • How to Make Your Startup Appear More Professional With Email Branding

    It’s no secret that adopting a successful branding strategy is one of the key cornerstones of running a successful business. This is because boosting the awareness and public perception of your brand can help develop stronger relationships with customers, enhance trust, and assist your company in forging a unique identity within its sector, separating itself from competitors.

    However, most business owners and brand managers focus on branding elements such as logos, typography, voice, values, and color schemes, with little emphasis given to their email efforts. That is a mistake.

    Email is one of the most frequently utilized communication methods in the business world, with the average office worker sending over 40 business emails every day. As a result, email branding is a vital tool that start-ups should utilize to help their emails appear more professional while perpetuating a consistent message.

    What is email branding?

    Email branding is the practice of creating a consistent and unique design/content structure in your emails that customers can clearly recognize. The idea is to make them stand out amongst the rest of the noise in the receiver’s inbox, so you can increase the effectiveness of your campaigns, boost email marketing ROI, and drive more revenue through the business. In fact, email branding has been reported to increase revenue by up to 23%, which is certainly nothing to scoff at.

    Furthermore, your email must be utilized as an extension of the rest of your company’s branding efforts. This means writing in the same style and voice as you do in other parts of your business communications, such as blogs and social media copy. As such, the tone of voice and copy you employ when crafting emails must always be guided by your brand’s core values and underlying company mission.

    On that note, here are a few quick pointers on how to make your business appear more professional with email branding.

    Start with the subject

    According to Statista, the open rate for marketing emails stands at a meager 18%. That makes grim reading if your startup plans to rely on outbound emails to generate revenue. In light of this, you need to do everything you can to establish credibility and authority right from the get-go.

    When you send an email, the subject line is the first thing the receiver is going to see. Therefore, the quality of your subject will likely make or break the success of that particular email campaign. In general, you want to strike a balance between enticing customers to open your email with a catchy (clickbait) title and maintaining a professional stance. Try to opt for something simple yet creative, and if you can think of some sort of theme that you can use throughout your future email efforts, even better.

    In addition, pay careful attention to the first few lines of the body text within each email. Depending on the email provider and device the receiver uses, they may be able to view the first lines of text before opening. This gives you further opportunity to grab their attention and convince them to read your email with well-crafted copy.

    Determine your audience and choose your voice accordingly

    Finding your voice is one of the more difficult yet rewarding aspects of branding. Think about it, developing an innovative new product or finding a way to add more value to consumers is an often time-consuming and resource-intensive process. However, if you can develop a unique voice that resonates with your audience, you can set yourself apart from the competition with ease.

    In order to do this effectively, you should start by researching your audience (target readership), so you can find out what writing style bets well with them. For example, Harley Davidson uses a rough, rugged, confident, and borderline aggressive voice when interacting with its customer base. This only works because the company understands its buyers are predominantly males aged 55 and above. Try to establish something similar with your voice to quickly establish a uniqueness amongst your rivals that consumers can connect with.

    Get visual

    The visual component of your email branding is just as important as the copy that you use. After all, the brain processes images 60,000 times faster than text, so you should be using visual elements to your advantage within your email branding strategy. Here are some tips to follow:

    • Choose a color palette – The colors in your emails should reflect the colors that are already present in your website, products, or logo.
    • Add your logo – Your logo should be one of the first things that people see when they open your email, as it makes your company easily recognizable.
    • Use consistent fonts – Keep things simple by using the same fonts. Not only will this make your emails appear more familiar, but a consistent font scheme looks more professional.
    • Use images wisely – A tasteful image can pull the reader in and add value to your email. Try to choose photos that represent your brand and the message you want to deliver. If you can afford it, you could even hire a graphic designer to create unique images perfectly tailored to your brand.

    Don’t forget the signature

    Your email signature is likely the last thing the reader will see, so you need to make sure it’s up to scratch. Moreover, your email signature gives you a great opportunity to establish authority since you can include important information that you may have missed otherwise, such as:

    • Trust badges
    • Company links (website, blogs, social media pages, and press releases)
    • Contact details
    • Industry disclaimers and legal information

    Oh, and don’t forget to include your logo in your email signature for good measure.

    Remember, consistency is key

    Finally, keep in mind that email is not an isolated component of your business operations. Your email should work in tandem with the rest of your branding plan to create a cohesive, consistent, and easily recognized brand that will help you develop a reputation that clients will trust. As a result, aim to integrate the unique features of your email (voice, colors, fonts) with the rest of your branding efforts to build a consistent and harmonized brand across all of your channels.

  • ​​Online Trading: Why Startups Should Consider It?

    Online trading has become increasingly popular in recent years, as more and more startups have turned to it as a way to raise capital. Any excess capital or profits can be further invested into stocks, bonds, currencies, commodities and so on to help startup owners raise even more capital so that they can grow and develop their businesses.

    This is especially important due to the fact that the majority of startup businesses don’t have a lot of capital to work with, in the first place. Instead of seeking investor aid or bank loans, startup owners will try to raise their own capital through online trading.

    Experienced traders and investors like Andre Witzel, for example, share their experience and knowledge about online trading. Andre is keen on helping individual investors and business owners alike develop their own online trading strategies that will yield considerable profits.

    You can find out more here https://andrewitzel.com/. That being said, online trading is a good way to finance your startup business until it becomes profitable and self-sustainable. With that in mind, here are a few reasons why startup owners should consider online trading.

    How can online trading help a startup owner grow their business?

    The fact of the matter is that many startup businesses fail due to a lack of capital. It’s one thing to raise capital to launch a startup business but it’s a completely different thing to have enough money to fund your business until it’s capable of generating profits and considerable revenue. Online trading can prevent startup owners from running out of cash mid-way.

    In addition, having an extra income from online trading can help you conduct better research, develop new products, product features or services, as well as help you fund a marketing campaign that will promote your startup business and help it become more visible. These factors are vital for the success of startup businesses in today’s competitive market.

    Furthermore, it takes startup businesses anywhere between five to ten years to become profitable enough depending on the industry they operate in. During that time, you have more expenses than income. Generating additional income from online trading can help you cover those expenses more seamlessly without having to go further into debt.

    What are some things to consider before starting to trade online?

    There are a few things you should consider before starting to trade online. The main reason is that online trading can be risky mostly due to market volatility and geo-political factors in the world that may affect the price of assets, such as stocks, for example. Therefore, here are a few things to keep in mind before trading online.

    • Your trading goals
    • The amount of capital you have to invest
    • Your risk tolerance
    • The time frame in which you want to achieve your goals
    • The types of assets you’re interested in trading or investing.

    As you may already know, every trade and every investment has risk involved. The goal of having a trading strategy is to help startup owners mitigate and minimize the risks of online trading. That’s why it’s very important to carefully consider each investment opportunity.

    Furthermore, consider only the money you can afford to lose. You cannot place your entire capital that’s meant to grow your company on a single trade deal. If you don’t make the right call, you are at risk of losing everything. Last but not least, consider diversifying your portfolio. That way you can mitigate investment risks even further.

    What are the risks associated with online trading?

    There are a few risks associated with online trading, the most common being fraud. There have been cases where people have been scammed out of their money by fake online brokers. It is important to do your research and only use reputable online brokers to avoid this type of fraud.

    Another risk associated with online trading is market volatility. The prices of stocks and other securities can fluctuate rapidly, and this can lead to losses if you are not careful. It is important to monitor the markets closely and only trade when you are comfortable with the risks involved.

    Finally, there is the risk of losing money due to the lack of experience and research. As mentioned before, you may want to invest all your capital in a single trade, which puts you at risk of losing everything. Every trade requires a careful assessment and you need to research the market conditions before you invest or trade an asset.

    There are numerous advantages to online trading for startups. One of the most important advantages is that online trading can provide an additional source of income you can use to fund your business. It’s imperative that startup owners don’t run out of capital while their businesses are still in the startup stage. Otherwise, they may be forced to close down shop for good.

  • Practical tips to enhance your business processes

    Many factors play a role in building a flourishing business, one of which is business process management. A business process involves the steps your company takes to accomplish specific goals. Business process management means constantly reviewing and enhancing each of your company’s operations. By doing this, you increase the overall organizational value.

    Once companies expand, they also become more complex, involving more people in the daily operations and more variability in customer’s expectations. Therefore, it can get tricky to control the processes as they become variable and complex, increasing risks to businesses.

    To build a scalable company and continue moving forward, business leaders need to improve their processes effectively.

    Why is improving business processes imperative for an organization’s growth?

    Companies go through a constant digital change in today’s competitive business environment. It’s challenging to keep your business on track, and ineffective processes can adversely affect your whole business operations. It takes only one inefficient process to impact resources, profit, and product quality negatively.

    Here are some benefits of optimizing business processes:

    • You ensure your organization has an effective team and the required skills to help you achieve business goals;
    • You and your team become more productive;
    • You get a constant approach and output for your clients;
    • Your job becomes more enjoyable;
    • You decrease workflow time;
    • You reduce errors.

    Organizations are often resistant to change, and that’s somewhat understandable, as it is not comfortable getting out of your comfort zone. But the truth is, you can’t expect success unless you choose discomfort. You may find it challenging to figure out the exact steps to improve your business processes. How can you be sure you’re doing it right? Luckily, by enrolling in a training program, you can develop the necessary skills to lead process development. By getting a Green belt certification, you will be able to implement process improvement projects in your company. You will learn how to enhance business processes by identifying, examining and decreasing issues in the processes.

    Practical ways to enhance business processes

    Map the existing process

    This is a no-brainer step – before making any changes to the process, it’s critical to visualize it. Process maps can give you a visual representation of process workflows, and thus, it allows you to understand and interpret them better and then make the necessary improvements.

    This visual angle of the processes provides a detailed perspective on the process workflow elements, such as accountable employees, tasks, systems, and tools. This way, it is easier for you to identify issues that negatively impact your business performance.

    Once you’ve recognized what’s not right, you can take action to improve the processes.

    Several tools can help you map the processes, such as Lucidchart or Microsoft Visio. Or you can simply use paper and a pen – if investing in such a tool is not among your options.

    Start asking questions about the process

    Since you are a business leader, you likely have a clear picture of how your processes work. However, your employees have the most knowledge about your business processes. Thus, the next step in the process improvement is asking questions to your staff. Check whether you got all the details of your map right.

    Your employee’s perspective on this is crucial because it helps you learn things you’d otherwise miss out. Suppose you want to enhance your client’s onboarding process by reducing the onboarding time. Since you are the leader, you know the steps of the actual process. However, you are not aware of what leads to a delay in onboarding the customers. Once you talk to the project team, you figure out the problem – your sales team is not using the systems correctly to update the project time about new customers.

    These details may seem insignificant, but they are critical to improving your process strategy. And the only way to learn these details is by asking your employees the right questions. You should focus on finding out the desired result of the process, the monotonous aspects that can be cut out, and the issues they encounter in their daily work.

    Examine the current workflow of your process

    This is perhaps the most time-consuming yet imperative step in improving your business processes. You can use the map you’ve created to establish the gaps and opportunities for progress in the workflow and then create a plan to redesign the actual process more efficiently.

    Ask yourself if you can reduce costs by saving money, time or other resources and figure out what process tasks lead to delays in the output. Also, consider the tasks that are repetitive and can be automated. These are just some questions that you can use as guidelines to create an effective process strategy.

    Remake the process workflow to fill gaps

    If you go through all the steps mentioned above, you’ll acquire enough data to start creating an action plan. Based on the insight you got from your analysis, write down the changes that will fill the gaps in your process and boost operations performance.

    Collaborate with your process team to identify the most effective solutions. Don’t overlook a suggestion just because it seems minor – it may be impactful. Once you create a list of all the ideas and changes you can implement, consider how they will influence the process outcomes and then prioritize them according to the business impact.

    Automate repetitive process tasks

    Redundancy decreases productivity – it’s just like eating the same meal daily. The absence of creativity will negatively impact your employees. You can use the information from your process analysis to evaluate those repetitive process tasks and find ways to automate them.

    Automation facilitates the process workflow and speeds up your processes. Plus, it enhances employees’ productivity because they get to direct their efforts towards doing something more creative and valuable for the business.

    Evaluate the efficiency of the workflow changes

    Use key performance indicators to monitor the performance of the enhanced processes. What kind of outcomes do they produce, and how effective are they? Are the operations executed faster? Did the errors reduce? What about the employees? How did they improve? Are they more productive than they used to be?

    By answering these questions, you will get a clear picture of how your process improvement strategy impacts your business. That way, you will know that the effort and time you invested in enhancing the processes were all worth it.

    Obviously, the process improvement doesn’t stop here, and you still have to seek more opportunities to enhance the processes further. The only way to stay above your competitors in an ever-changing world is to evaluate and improve your business constantly.

  • Tips for Your Startup to Optimize Operations

    Whether or not you realize it, your new company has a workflow that you should optimize. while it might not require as many processes as a company that created complex goods, you will still have a certain way of doing things. Investing in your business optimization can help you have positive results over the long term. There are a few ways to begin.

    Consider Fleet Management Processes

    A proper fleet management process will go far in helping you manage your startup’s vehicles. Even if you feel you don’t have that many right now, it is often easier to begin with a fleet management program instead of trying to implement one once things have become unmanageable. Consider implementing vehicle telematics, which is all about information and telecommunications. The internet has changed the way vehicles are tracked, allowing for a greater number of telecommunications networks. You can now more easily track data related to your vehicles, and this is often instrumental in vehicle management.

    Use the Right Software

    Having the right tools can go a long way in ensuring you will be productive enough. There will most likely be plenty of opportunities for you to streamline different processes. By making the best use of software you can shave off so many unnecessary tasks. Certain types of software will help you streamline business processes. One example is workflow software, which offers help with cross-business processes. This type of software is cost-effective, as it can address many issues. It can also boost visibility, productivity, and accountability. Plus, it allows your organization to react quickly to any changes.

    Spend some time thinking over your current challenges to determine the software to obtain. The challenges in your startup will depend partly on your industry, as well as current strengths and weaknesses. If you do not take the time to think honestly about your current operations, you will not be able to optimize anything. Make sure to meet with employees and work with them to figure out how you can improve. They will be most familiar with your daily operations.

    Automate Wherever Possible

    You can use certain types of automated solutions to assist with challenges in the workflow. Invoicing can be managed through invoicing software to ensure everyone has access to the relevant data. That way, you won’t waste time on monotonous tasks. You can also use project management software to make collaboration easier, facilitating communication with each team without delay. There is software for nearly any issue you might encounter, and no matter the challenge, you can find a tool to overcome the issue.

    Standardizing Your Processes

    Standardizing your processes is one of the most important aspects of any workflow, as this makes things more efficient. It also prevents employees from having confusion about how to carry out a certain task. You will be better equipped to manage resources and maintain control. Of course, you will need to implement standardization without adding extra work. If you require everyone to stick to a specific operating procedure with no room for variance, there might not be room for creativity, and creativity is an important quality in any startup.

  • Is Studying Part-Time an Option?

    Most teenagers want to continue their learning after school graduation. They opt for private schools, colleges, and universities. However, their education may not be full. Many students prefer part-time studying. It causes hot debates about the rationality of such an option.

    Is studying part-time a reasonable move? Many folks think that this format will never make a true specialist out of a learner. We believe that this thought is false. Part-time studying has the right to exist, and we will provide our reasons.

    More Free Time

    As you will not be busy with learning as a stationary student, you will surely have a lot of free time. It is a perfect chance to turn all capabilities into real opportunities. You will have pretty much time to improve all imperfections, set goals, define how to reach them and find your place in life.

    Gaining Work Experience

    Thanks to your partial involvement in the learning process, you may try different professions. Before you acquire a degree, you have a nice chance to try the anticipated job. Moreover, you may try quite different jobs, and it will be a very useful experience for you. It is quite possible that you will realize that a different profession is close to your heart.

    As you prefer part-time learning, your job will also be part-time. We think that freelancing is the best option for students. If you have good writing skills, you may help other students who are less gifted. Why is freelance writing perfect for students? Here are a few convincing reasons:

    • Improvement of your skills – As you will be writing a lot of academic papers, you will boost your skills greatly. These include more than writing skills because other skills are also required to complete a perfect piece. Thus, you will also develop editing, researching, topic generating, analytical, proofreading, citing, and other skills.
    • Enrichment of knowledge – You will cover various topics in various academic fields. Accordingly, you will enlarge your knowledge automatically when you research them. It is a great benefit to know many things from different subjects for anyone. Besides, you will gain experience in writing all types of essays. Perhaps some other pieces of writing will also be completed by you. This experience will surely help you to be a successful student.
    • Flexible schedule – Freelance provides you with a convenient working schedule. You are the one who decides when to work and for how long. Just set active writing hours and work while they run. Have a rest when it is convenient for you.
    • Freedom of choice – Of course, only you decide on the load. If you feel overwhelmed or simply do not like a certain assignment, you are free to refuse to do it. Thus, you will never have any negative feelings and no one forces you to complete this or that task

    Another similar and quite captivating part-time job is blogging. You are also free to choose topics you want to cover, as well as the workload and time required for writing. It also develops various skills and helps to learn vital things.

    Earning Money

    As you may work, you will surely earn. It is a very honorable deed for all teenagers. A combination of learning and work is hard. The ones who manage it can be called some sort of hero. Depending on the selected job, you will be able to afford a lot. Evaluate your skills, so you will know what part-time job suits you perfectly.

    Starting New Projects

    Thanks to more free time, you will be able to start new beginnings. We mean some business affairs. You may run up a startup or sell handmade products. It is up to you if you have the desire to do that. At any rate, you will realize your potential, even if some of your new beginnings will fail.

    Acquiring New Skills and Passions

    You are also welcome to master new skills and start new hobbies. What will they be like? It depends on your inner talents and desires. If you want to acquire new skills, you may try:

    • Architecture
    • Engineering
    • Web design
    • Coding, etc.

    These directions are very popular and have bright perspectives even in 100 years. As for hobbies, your choice is richer and easier to acquire. Here are a few prompts if you still wonder what to start:

    • Any kind of new sport for you
    • Traveling
    • Writing blogs
    • Hiking
    • Mountain climbing (be careful!)
    • Crafting with your hands
    • Volunteering, etc.

    Use Professional Aid

    If you need more time for your work and wonder “who can write my paper”, you should use an online writing service. If it’s legal and reliable, it will surely solve all your issues with a term paper, essay, research paper, and other academic issues.

    You may freely demand any academic skill. Your writer can write revise, edit, cite, etc. Your essays will be tackled exactly as you want. You will easily find someone to do your papers.

    How much should you pay? Commonly, the price is quite cheap and ranges from $7 to $13.  Therefore, you will be able to afford professional aid.

    Summing Up

    As you can see, part-time studying has many benefits for learners. It is a great way out for busy youngsters who need more time for working and enjoying life. You may not worry about the quality of your skills and knowledge if you prefer this format of education. It is also practical, effective, and beneficial.

  • The Economic Outcomes of the Suez Canal crisis

    The recent news about the blockage of the Suez Canal has gained a lot of popularity on social media. The pictures of the blockage have been widely spread in the online world as memes. But the economic outcomes of the blockage of Suez canal are severe.

    Let’s look at the Economic Outcomes of the Suez Canal crisis

    What happened at Suez canal
    Economic outcome of the Suez Canal crisis
    Loss due to the Suez Canal crisis
    Effect on Crude oil prices
    Other consequences due to the Suez Canal crisis
    FAQ

    What happened at Suez canal

    A giant cargo ship which is 400 meter in length has blocked the Suez Canal. The Canal has been blocked by the ship for the past few days. The ship which is operated by the Taiwanese transport company evergreen marine is one of the world’s largest biggest container vessels.

    The ship weighs 200,000 tones and has a maximum capacity of 20,000 containers. It is said that the ship had lost control after it entered the narrow passage of the Suez Canal from the Red Sea. The salvage company which is trying to refloat the ship has said that it might take weeks for them to complete the task.

    Peter Berdowski who is the CEO of Dutch company Boskalis who is also one of the rescue teams trying to free the ship has said that depending on the situation, they can’t exclude that it might take weeks.

    Economic outcome of the Suez Canal crisis

    The ship has stopped 12% of the world’s seaborne trade and has already cost losses of billions. Almost 50 percent of the container ships pass through the Canal on a daily basis and around 30% of the global container traffic passes through it.
    The current situation is expected to cause a great damage to the global trade. It is expected that the prices of all essential commodities will increase.

    Suez Canal Crisis
    Suez Canal Crisis

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    Loss due to the Suez Canal crisis

    The experts fear that the blockage has led to severe effect on the economy and the global trade. The blockage is costing around 400 million (around INR 2.8k crores) per hour, as ships are asked to take a longer route to reach their destinations.

    Experts have said that this is the worst ship blockage ever witnessed. It is said that many cargo ships which have been diverted would take another 5-6 days to reach their destination.

    Effect on Crude oil prices

    It is said that more than 200 containers carry crude oils through the Canal on a daily basis. Experts have also told that the major hit would be for the small tankers and the crude oil exports from Europe to Asia.

    The director of Asia oil at FGE Sri Paravaikkarasu has said that around 20% of Asia’s Naphtha which is crude oil is supplied through the Suez Canal. He said that re-routing of the ships would add more amount of fuel consumption for the ships that is around 800 tones and increase its operating expenses.

    The shortage in the availability of the crude oil will lead to a jump in the crude oil prices. It is said that the crude oil prices have already increased due to the fear of the crude oil Suez Canal blockage in the past few days.

    Data from Refinitiv has suggested that around 30 oil tankers have been waiting at both the sides of the Suez Canal. David Fyfe who is a chief economist at Argus Media which is a market research firm said that around 5-10 percent of the global shipments passing through the Suez Canal are crude oil, refined oil, and liquefied natural gas shipments.


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    Other consequences due to the Suez Canal crisis

    Lars Jensen who is an independent container shipping expert based in Denmark has said that basically anything you see in the stores would be in shortage because of the blockage in the Suez Canal.

    This includes everything from toilet papers, coffee, furniture, clothes, shoes, exercise equipment to car parts, carpets, and electronics. The blockage has also delayed e-commerce product deliveries which even include food.

    Ian woods who is a marine cargo lawyer and partner at the London-based firm Clyde and Co. has said that, there are commodities worth millions of dollars on other ships waiting for the blockage to be cleared.

    If the blockage is not cleared quickly then they would consider taking longer routes which will increase the operational charges and these extra charges will be carried down to the consumers.

    It is said that eventually the consumers will have to pay the price and this blockage would have a deep impact on the end consumers. The exact amount and the exact effect of the blockage are not yet analyzed but the more it delays the consequences will increase.

    Each day of delay will add more billions of dollars of losses towards the global trade and the economy.

    FAQ

    What country owns the Suez Canal?

    The Suez Canal is operated and owned by Egypt.

    What country built the Suez Canal?

    In 1854, Ferdinand de Lesseps, the former French consul to Cairo, secured an agreement with the Ottoman governor of Egypt to build a canal 100 miles across the Suez.

    Why did Great Britain want to control the Suez Canal?

    Great Britain wanted to control the Suez canal, because it allowed them quicker access to its colonies in Asia and Africa.

    When did Britain buy the Suez Canal?

    In 1875 Britain bought Suez Canal from the Egyptians in £4million worth of shares.

    Conclusion

    However, Egypt’s Suez Canal Authority is looking forward to cooperating with the United States in efforts to refloat the container ship which has blocked the Suez Canal for the past few days. According to Arab News, the Canal revenue for Egypt was $5.6 billion in 2020.

  • A Decade Of UIDAI (2009 – 2019): Challenges And Impact

    The Unique Identification Authority of India (UIDAI) is a statutory authority establish under the provisions of the Aadhaar Act 2016 from 12th July 2016 by the Government of India, under the ministry of Electronic and Information Technology. Prior to its establishment as a statuary authority, UIDAI was functioning as an attached office of the then Planning commission and was established  a decade ago on 28th January 2009.

    The logo of Aadhaar
    The logo of Aadhaar

    UIDAI was created with the objective of issuing a Unique Identification Number (UID), named as Aadhaar to the citizens of India. The UID had to be robust enough so it would eliminate duplicate and fake identities and also verify and authenticate in an easy, cost effective manner. The authority has so far managed to issue more than 124 crore Aadhaar numbers to the residents of India.

    After the Aadhaar Act 2016, UIDAI is responsible for operation and management of all stages of Aadhaar life cycle, developing the policy, procedure. And also to systematically issue Aadhaar numbers to individuals and perform authentication and the security of identity information and authentication records of individuals.


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    The Vision and Mission of UIDAI

    The vision of UIDAI is to empower resident of India with a unique identity and digital platform to authenticate anytime and anywhere.

    The mission of UIDAI are

    • To provide for good governance, efficient, transparent and targeted delivery of subsidies, benefits and services, the expenditure for which is incurred from the Consolidated Fund of India, to residents of India through assigning of unique identity numbers.
    • To develop policy, procedure and system for issuing Aadhaar number to residents of India, who request for same by submitting their demographic information and biometric information by undergoing the process of enrolment.
    • To develop policy, procedure and systems for Aadhaar holders for updating and authenticating their digital identity.
    • Ensure availability, scalability and resilience of the technology infrastructure.
    • Build a long term sustainable organization to carry forward the vision and values of the UIDAI.
    • To ensure security and confidentiality of identity information and authentication records of individuals.
    • To ensure compliance of Aadhaar Act by all individual and agencies in letter and spirit.
    • To make regulations & rules consistent with the Aadhaar Act, for carrying out the provisions of the Aadhaar Act.
    An example of the details that Aadhar card contains
    An example of the details that Aadhar card contains

    Some of the main functions of UIDAI are according to the Aadhar Act of 2016 are:

    • Specifying the regulations, demographic and biometric information required for enrolment and the process of verification.
    • Appointing of one or more entities to operate the Central Identities Data Repository
    • Generating and assigning Aadhaar numbers to individuals and authenticating Aadhar number.
    • Maintaining and updating the information of individuals in the CIDR in such manner as may be specified by the regulations
    • Omitting and deactivating of an Aadhaar number and information as specified by regulations.
    • Specifying the manner of use of Aadhaar numbers for the purpose of providing or availing benefits, services and other purposes for which Aadhar numbers may be used.
    • Calling for records and information conducting inspections, inquiries and audit operations for the purposes of Aadhaar Act of CIDR.
    • Data management, security protocols and other technology safeguards under Aadhaar Act.
    • Levying and collection of the fees or authorizing the registrar, enrolling agencies or other service providers to collect such fees for the services provided by them.
    • Setting up of facilitation centers and grievance mechanism for redressal of grievances of individuals, Registrars, enrolling agencies and other service providers.

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    The challenges of UIDAI are

    Biometric Challenges – No single biometric modality is sufficient for uniqueness guarantee. As it needs facial photo, eight to ten fingerprints and possibly iris. The problems with that is that significant percentage of the population will not have a desired biometric pattern: children below 8 years old. Enrollment “kit” that contains everything for a mobile unit. Simple training of enrollee such as video when they are waiting in line for enrollment.

    Rural Biometric Challenges – Fingerprint is socially acceptable, but it requires physical contact. Manual labor, dirty hands, assistance needed to capture prints result in large number of errors or missing prints. When it comes to iris scan it is better technology because it is touch less, but needs camera redesign for rural environment. Need improved user friendly capture to enroll in the open. Its needs in situation monitoring for enrollment and continuous monitoring.

    Biometric De – Duplication – Assuming 10 fingerprints for each and every person. A duplication search requires every fingerprint to be compared against entire database. Assuming a peak load of 1 million enrollments/day at database size of 800 million.

    Architecture Challenges – The architecture challenges includes distributed computing, cloud computing and virtualization, in memory databases and optimizing for computation and network.

    Network Infrastructure – Since rural internet connectivity is very poor the government must work on getting a better mobile network for the rural areas. Enrollment client must work in offline mode and batch upload when connected.  It should ride on credit card POS networks.

    Security and Fraud Detection – It make it secure for client, the server must be able to detect and prevent intruders. It should detect fraud on audit trails. Make automatic alerts like credit card alerts based on suspicious patterns.

    Managing multiple risks – It manages multiple risks such as Adoption, Enrolment, Political, technology, scale, sustainability, privacy and security.


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    The impact of UIDAI and Aadhaar

    Over 90% of Indian adults are now enrolled in the Aadhaar program making the total about 1.2 million people. It has become one of the pillars which people debate on the role of government in our lives. The value of privacy and how we should safeguard it, how public policy should be shaped and implemented and whether technology is being truly harnessed in the best interests of the citizens.

    The impact of Aadhaar from the past 10 years

    Identity is important

    Aadhaar enrolment has been de- linked from a person’s nationality and is instead available to all residents. In order to be eligible for enrolment an applicant does not have to prove their Indian citizenship, they must only provide proof of residence for at least 182 days. The Aadhaar has identity first approach and the number itself does not establish nationality or confer any rights or benefits and only establishes who the person is.

    Focus on Inclusion

    A central debate in India over Aadhaar has been on its claims towards inclusion. It points out vulnerable section of the population as there are many people that have been excluded from individual legal identity, now have an access to a nationally and widely recognized form of identification e.g. the poor migrants, tribal population in remote areas, transgender individuals and the homeless.

    Make privacy a priority

    The Aadhaar was implemented without a framework of data protection and privacy legislation in place, and it is missing in India even today. As a result, while the central repositories of UIDAI have not been breached, the demographic information collected for issuing Aadhaar cards, and the Aadhaar number itself, have been subject to multiple disclosures by government bodies as well as through fraudulent means.

    There was a lack of clarity on the status of information and the rules on how it was to collected, handled and disclosed. Limited data collection for specific purposes and controls on the retention of data, must be incorporated into the program, in the design of the technical system and also in the rules for every partner and agency related in handling identity related data.


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    Technology choices and their costs

    The Aadhaar program costs US $1.16 per enrolment which is the lowest of any identification program in the world. In other parts of the world the costs are as high as US $6 for enrolment and up to US $5 per identity card, which developing countries cannot afford. This makes the system dependent on connectivity for authentication and enrolment which is difficult to adopt for countries with lower mobile and internet usage.

    Which is why UIDAI introduced offline verification in 2018 through a digitally signed copy of demographic information on a QR code on the Aadhaar card. It enabled local authentication without connecting to the centralized database and also addressed the issue of fraudulent Aadhaar cards.

    Financial Inclusion

    When trying to assess the impact of the Aadhaar system, 2 instances are very significant the PDS, where the benefits are disputable and the financial services where its role is to accelerate KYC process in opening bank accounts. The Reserve Bank of India in 2011 recommended the use of the Aadhaar based e-KYC process for opening small bank accounts.

    This received a boost in 2014 with the launch of the Jan Dhan Yojana, through which over 300 million accounts were opened using eKYC. An uptick in account usage was observed once cash benefits were directly transferred to these accounts, suggesting that the lack of an initial balance might be a deterrent