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Business Today

Business Today 7-Feb-21

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A leading business magazine read by the business leaders for staying ahead and managing challenges that comes right away in the ever changing world of business.

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Living Media India Limited
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26 Issues

in this issue

3 min.
doing things differently

As Business Today enters its 30th year, the world has just lived past an unprecedented health crisis. It so happens that Business Today was launched about four months after the much-heralded 1991 reforms of Manmohan Singh which transformed the Indian economy. The reforms dismantled the licence raj and laid the foundation of an economy that has grown 35.3 times since then to become the fifth largest globally, although the reforms didn’t go far enough. This, however, demonstrated what Indian private enterprises could do when unleashed from bureaucratic controls. Sadly, the lesson has been lost on the ‘powers that be’ since then. Although India has grown at a reasonable rate for the past three decades compared to some other countries, it is not what it could have been. India’s reforms have…

1 min.
pandemic pushes digital adoption among mses

Adoption of digital sales channels among micro and small enterprises (MSEs) has increased significantly since the pandemic, reveals a CRISIL survey About 29 per cent MSEs surveyed used digital sales channels — online aggregators or market places, social media and mobile marketing—before the pandemic. Thus number shot up to 53 per cent among small enterprises and 47 per cent among micro enterprises as of November. About 60 per cent of respondents said adopting digital selling helped them weather the pandemic-induced stress, while the rest said it boosted sales AMONG MANUFACTURERS…. AND IN SERVICES…

2 min.
‘times they’re a changin’

Say it the musical Bob Dylan way, ‘The times they’re a changin’ or the poetic Alfred Tennyson way, ‘The old order changeth yielding place to new…’, India Inc’s trial by fire in the pandemic restrictions has delivered some startling revelations and pleasant surprises. Of running businesses remotely, in new, unbelievably simple and cost-effective ways; of engaging with clients, customers and employees online; of new logistics and supply chain and new ways of co-opetition. When Covid-19 hit India, first there was shock and disbelief at businesses grinding to a halt, sales falling to zero and mounting losses. Then there was panic about the future and survival of businesses. As CEOs and organisations gathered their wits and put new strategies in place to restart or continue operations, the screen of ambiguity began to…

9 min.
to lend new wings to agriculture

The pandemic of 2020 will be remembered as a momentous turning point in history. The events that unfolded over the last nine months snowballed into a global health crisis, which led to a major economic setback. Almost two million lives were lost, devastating homes across continents. As economic activity stalled and world GDP contracted, job losses mounted, impacting livelihoods globally. Amidst these dark clouds was the silver lining of hope brought about by the inspirational efforts of many, particularly healthcare professionals who bravely and tirelessly strived to save lives, and communities that rallied together to demonstrate selfless compassion. It was heart-warming to witness how people responded with resilience to get back on their feet, how new partnerships were forged and how enterprises fast-tracked innovation to deliver breakthrough solutions. The government played…

5 min.
autonomy to be established for quick decision-making

In first 15 years since its debut in 1995, the Internet managed to reach only a meagre 7.5 per cent of India’s population. However, a decade more thereafter, the story is remarkably different. Driven by a surge in smartphone usage, nearly 50 per cent of the country’s population is now connected to the World Wide Web, and it is estimated that by 2025, close to a billion would be networked. It has also spurred the country’s digital transformation though there is still a long way to go to reach its true potential. While India has leapfrogged to the digital realm in the last few years, Covid-19 has amplified this pace multifold. The crisis, which hit us all unexpectedly, demonstrated just how big a role digitalisation plays in information flow. To begin…

5 min.
must never lose sight of risk & crisis management

We are living in an interconnected world with an interdependency which is going to get stronger in the coming years. Leaps in technology, rising influence of social media, access to information at click of a button, progress in transport infrastructure and investors searching for profits beyond their territorial boundaries are some of the factors that have led to the majority of the economies converging into a synergetic marketplace. However, recent history has shown that with these strong financial and economic linkages, we have to be prepared for the unexpected. Over the past 12-13 years, the world has seen several crisis situations that have shaken the foundation of long-held beliefs. India has in recent years endured several crisis situations such as the global financial crisis of 2008-09, the US Fed’s Taper Tantrum in 2013…