MANAGING in the

NEW WORLD

To succeed at market research, number of professionals are turning to yoga. The latter helps in analyzing the body and those strengths comply while conducting business analysis. There exist certain trap questions which the busy mind cannot digest, but post yoga solutions to these can be churned out better. There is a certain ingrained bias that people face, but an objective researcher needs to get rid of these and yoga helps to achieve the same. Most importantly, yoga helps reduce body fatigue by curbing stress, blood pressure, depression, anxiety and insomnia.

China is now the world’s largest supplier of outbound tourists. As per market research, the numbers crossed the hundred million mark for the first time. Short distance trips though remain most popular with Thailand, Vietnam, Japan, Hong Kong, Macao and South Korea being amongst the most popular destinations for Chinese travelers. The USA is also a major destination to travel. Favorable visa regimes with a number of countries has helped this cause. The rate is further set to grow in coming years.

Modern day corporate leaders can take lessons from military generals. The latter are much better at uncertainty management than managing risk. Generals also look at overall strategy rather than individual plight. The 1943 Allied landings on Sicily can be taken as an example where the bigger picture took precedence over individual lives and this is where corporate strategy can reposition itself. Cyber attacks are a constant part of the corporate world yet this is a risk which businesses are usually better positioned to deal with than militaries. The French General Joseph Joffre once sacked a number of senior officers at the height of the war claiming they were better peace time leaders. Similarly businesses need to identify risk-averse as opposed to risk-taking managers.

Visiting Friends and Relatives (VFR) is among the most important segments for international travel. As per a tourism consulting publication, it accounts for about three-fifths of travel to Turkey. Iran is one country with a large Diaspora residing across the world. This has led to Iranians traveling in droves to these places. Even many Iranians travel back home once their credentials get established. Philippines is another country which has developed tour packages for its nationals residing abroad for generations.

Business research has identified two major types of entrepreneurs. Most fall within one of these categories which can be classified as – ‘path finders’ and ‘path creators’. The former always seek to create new things through business innovation. The latter ensure that new developments are scaled best for mass, commercial usage. Path creators value business analysis through extensive usage of big data. Path-finders on the other hand feel that such analysis constrains creativity and reduces unpredictability.

In order to build a workforce tuned to working in an international environment, certain suggestions have been made by a management consulting publication. Location is critical. While being based at a smaller place might help with employee retention, a New York City office location might be much more conducive for fostering a global workforce. Wherever the firm is located, local employment practices must always be taken into consideration. Local talent must be integrated in offshore locations. Everyone in the team must be given a set of duties to which they are accountable. A typical 9 to 5 working day will not be possible, instead the hours must be kept flexible depending upon the assignment requirements. 

A number of definitions are being used to describe today’s youth. However there is almost no consensus in this matter and we are struggling with set of terms such as ‘Generation Z’ or ‘millennials’. We also cannot pinpoint a birth year for them. Thus it is best to simply ignore such definitions as generations are no longer relevant. The new generations are raised by older ones and the earlier trend of youngsters repelling their parents’ dogmas is reducing. This is due to the digitization which is enabling families to share their experiences as one. Instead individual characteristics such as tastes and passions have become relevant. This is what organizations are tapping via digital marketing by targeting tribes which favour particular interest areas instead of going by age groups. 

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