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International Business, Marketing and Finance

Goal: Exploring the nexus of cross-cultural institutions, newer forms of marketing and communication, post-pandemic customers, financial planners and also international businesses.

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Boidurjo Rick Mukhopadhyay
added a research item
An entrepreneurial architecture understands how the overlapping components of a firm such as strategies, leadership, culture, structures, and systems could work together. Therefore, innovative and entrepreneurial firms capture the institutional, communicative, coordinating and cultural elements oriented towards innovation. In essence, this concept provides a conceptual understanding of how business architecture components come together to provide a cohesive and coherent view of an enterprise. Burns in his study published in 2005 provides an understanding of entrepreneurial architecture in the context of corporate entrepreneurship. Since then, the concept has been used for other forms of enterprises. According to his work, this concept provides “a powerful tool to explain the dynamics of entrepreneurship and describes the relational contracts within and around firms or organisations”. The entrepreneurial architecture, therefore, addresses the challenges of encouraging and leveraging entrepreneurship within innovative organisations.
Boidurjo Rick Mukhopadhyay
added a research item
“A disciplined and defined set of tasks and steps that describe the normal means by which a company repetitively converts embryonic ideas into saleable products or services.” New Product Development (NPD) is perceived as a comprehensive set of multi-disciplinary processes that transform a market opportunity into a marketable new product to satisfy customer requirements. Some authors also call it New Product Introduction (NPI) or new product planning and development, whether it’s tangible products such as new smartphones or automobiles to intangible products like new apps or Netflix series. NPD is key to a company’s survival, growth and also for differentiating itself from other players who are in the same game. The need for continually refining NPD sources from constantly evolving consumer appetite and buyers behaviour, global competitive forces, the new applications of technology, amongst other factors.
Boidurjo Rick Mukhopadhyay
added a research item
“A disciplined and defined set of tasks and steps that describe the normal means by which a company repetitively converts embryonic ideas into saleable products or services.” New Product Development (NPD) is perceived as a comprehensive set of multi-disciplinary processes that transform a market opportunity into a marketable new product to satisfy customer requirements. Some authors also call it New Product Introduction (NPI) or new product planning and development, whether it’s tangible products such as new smartphones or automobiles to intangible products like new apps or Netflix series. NPD is key to a company’s survival, growth and also for differentiating itself from other players who are in the same game. The need for continually refining NPD sources from constantly evolving consumer appetite and buyers behaviour, global competitive forces, the new applications of technology, amongst other factors.
Boidurjo Rick Mukhopadhyay
added a research item
Sun Tzu who once said, “In the midst of chaos, there is also opportunity and opportunity multiply as they are seized”. A crisis is very often systemic by nature, and therefore the solutions cannot be quick-fixes. In the business world, depending on the nature and scale of a crisis which can make or break a business in the medium to long term needs careful identification and scrutiny after early detection signs become evident. Over the years, studies have evidenced that there is a strong correlation between organisational culture, learning, market orientation, the degree of risk and resilience embedded within the firms – and the role of leadership is undeniably paramount.
Boidurjo Rick Mukhopadhyay
added a research item
Research by Chesbrough views open innovation as a process whereby purposive inflows and outflows of knowledge can accelerate internal innovation thereby creating an opportunity to expand the markets for external use of innovation. One of the main reasons for leveraging open innovation is the fact that one company at a particular point in time may not have all the best brains and skills in a given area of expertise required for innovation. Therefore, partnering with other firms that have similar expertise could contribute to larger outcomes in the long run. This has become an effective business strategy in many sectors today, where open innovation is taken up as a deliberate strategic move. Two rather understudied areas in this topic, however, is first, how open innovation is best measured, and second, how open innovation in an SME compares to one in a multinational company.
Boidurjo Rick Mukhopadhyay
added a research item
It was back in 2011 at the Hanover fair, the German group of scientists Acatech presented the term “Industrie 4.0”, a synonym of the fourth industrial revolution. When understood in simple terms, the fourth industrial revolution is an introduction of modern ICT in production. Further, in 2013, the working group “Arbeitskreis Industrie 4.0” comprising industry researchers, presented their report of recommendations for the introduction of Industry 4.0 to the government following which German associations such as BITKOM, VDMA, and ZVEI created the “Platform Industrie 4.0” that subsequently influenced the countries’ political strategies and industrial development focus. Since then, industry 4.0 has expanded globally and really quick. Industry 4.0 combines production, information technology, the internet, and moves towards a digital-physical system in manufacturing. According to PwC, companies deploying Industry 4.0 initiatives expect to see a 2.9% increase in revenue and a 3.6% reduction in costs by 2020.
Boidurjo Rick Mukhopadhyay
added a research item
When companies go through strategic Mergers and Acquisition (M&A), they promise a continuum of promises – from rapid growth, eliminating competition, building new resource capabilities, to accessing to new markets (locally or internationally). At the same time, a strategic move such as M&A have also demonstrated an opportunity where organisations could potentially unite talents, build new efficiencies and boost growth. However, a report by McKinsey shows that 70% to 90% of mergers and acquisitions eventually fall apart. Cultural factors and organisational alignment are absolutely critical to effectiveness of mergers. Though one of the expected gains from such strategic moves is meant to unite talents and build new capabilities, only 8% of organisations actually....
Boidurjo Rick Mukhopadhyay
added a research item
Whether it’s a big retail chain like Walmart or Spencer or the coffee place next door to your house, procurement and logistics continue to be huge components affecting cost and related business decisions. Typically, depending on the size of the market and nature of the industry that an organisation find itself in, the common problems around why most organisations may not choose to go with local sourcing are inadequate or poor- quality input, insufficient and unstructured delivery system, lack of availability or accessibility, and non- competitive price level. The company selection criterion is of course a big consideration involved in the process. Although it might be ‘logical’ to switch to local suppliers from imported products or dwell on a longer supply chain with established partners, the choice is not always simple. Price and standard of products are key, and also whether there is state support to motivate local sourcing....
Boidurjo Rick Mukhopadhyay
added a research item
11th November (11/11) is Chinese Singles day, which happens to be just another shopping spree occasion like Boxing day. On this day alone, the giant electronic-retail (e-tail, hereafter) Taobao (owned by Alibaba group) registers a sales record range of 6-8 billion dollars every year, and the number grows every year. However, what goes unreported every year are ‘product return’ and ‘product recall’ statistics. Customers save all items on the e-cart until 10/11 and once the clock strikes midnight, they click ‘buy now’. Therefore, the following two weeks from the single’s day is an impossibly busy period for the e-tail logistics and warehousing partner services. Needless to mention, a higher level of pressure kicks in when the ‘product return and replace’ phase starts after customers receive the deliveries and are not satisfied....
Boidurjo Rick Mukhopadhyay
added a research item
Every organisation, big or small, goes through a formative period where it is led largely by the founding vision and allows a lot of experimentation and innovation. This is also a confidence-building period that goes through trial and error, organisations either overcome obstacles or achieve new breakthroughs and sometimes both. The second stage is the rapid growth period where the objective is to solidify what the organisation is good at while also sustaining growth and gains. Thereafter comes the mature period where the strong and sustained growth needs to identify and expand to new markets while also building a name and purpose of the organisation as it expands. The fourth and final stage would be the decline period where firms mostly either downsize or reorganise or go for consolidation. Regardless of the size of a business, there is a strong correlation between organisational culture, learning, market orientation, the degree of risk and resilience (which also includes being crisis-proof) embedded within the firms and the role of leadership.
Boidurjo Rick Mukhopadhyay
added 2 research items
Christian Louboutin once said ‘luxury is the possibility to stay close to your customers, and do things that you know they will love’. One of the common traits of luxury brands is offering customisation which not only helps in distinguishing luxury brands but also reinforces the craftsmanship, and the core creativity of the brand. Some companies do a lot more than customisation and giving the luxury customers a lot more than a product or service that is unique and rare, e.g., Louis Vuitton involves clients in the design process of shoes, bags, and trunks, or Rolls Royce with its unique ‘discover bespoke’ option and their catchphrase is ‘you don’t just purchase a Rolls-Royce, you commission it’ where a customer can design every inch of the interior on top of capturing the feeling of older models in every new car by diffusing a blend of mahogany wood, leather and oil.
Christian Louboutin once said ‘luxury is the possibility to stay close to your customers, and do things that you know they will love’. One of the common traits of luxury brands is offering customisation which not only helps in distinguishing luxury brands but also reinforces the craftsmanship, and the core creativity of the brand. Some companies do a lot more than customisation and giving the luxury customers a lot more than a product or service that is unique and rare, e.g., Louis Vuitton involves clients in the design process of shoes, bags, and trunks, or Rolls Royce with its unique ‘discover bespoke’ option and their catchphrase is ‘you don’t just purchase a Rolls-Royce, you commission it’ where a customer can design every inch of the interior on top of capturing the feeling of older models in every new car by diffusing a blend of mahogany wood, leather and oil.
Boidurjo Rick Mukhopadhyay
added 2 research items
The growth of Electronic Retails or simply E- tails (e.g., Alibaba, Amazon, etc.) transformed business-to-consumer (B2C) E-commerce for both SMEs and large corporations, it has also evolved the conventional market structure due to online platforms continually tailoring to ‘instant gratification’ and changing needs of customers. Due to imposed challenges and restrictions on logistics and procurement network since the pandemic hit, there has been several changes in process and supply chain risk management, the emergence of a new E-tail supply chain model, increasing use of AI and automation at warehousing and procurement facilities.
“New technologies that combine the physical, digital and biological worlds, impacting all disciplines, economies and industries. These technologies have great potential to continue to connect billions of more people to the web and drastically improve the efficiency of business and organizations.” As opined by Klaus Schwab in his book ‘The Fourth Industrial Revolution’. When we look back at how the first industrial revolution started in the 1770s, we essentially moved from hands to machines, from farms to first factories using steam and water power. About another 100 years later, electricity arrived along with the second industrial revolution that gave us automation, assembly lines which then triggered the concept of ‘factories’ as we know them. The third industrial revolution knocked our doors when the computers arrived in the 1970s, they allowed us to automate blue colour work and factories, and finally, the cyber-physical systems where the machines can now talk to each other with...
Boidurjo Rick Mukhopadhyay
added a research item
The growth of Electronic Retails or simply E-tails (e.g., Alibaba, Amazon, etc.) transformed business-to-consumer (B2C) E-commerce for both SMEs and large corporations, it has also evolved the conventional market structure due to online platforms continually tailoring to ‘instant gratification’ and changing needs of customers. Due to imposed challenges and restrictions on logistics and procurement network since the pandemic hit, there has been several changes in process and supply chain risk management, the emergence of a new E-tail supply chain model, increasing use of AI and automation at warehousing and procurement facilities. The changing situation posed quite a few questions to ponder on – for example, for omnichannel businesses (who has both physical stores and also online platforms where consumers could order and have it delivered at doorstep), could delivery be cheaper and faster if some E-Tails make online orders available or ‘pick up at our store’ delivery only? Would it be more economical to keep the delivery operation in-house or outsourced? What new strategies need to be crafted to better manage return orders and failed deliveries?
Boidurjo Rick Mukhopadhyay
added a research item
Selected research offers a diverse understanding of the complex concept of organisational culture in light of core beliefs, values and principles that guide the navigation and decision-making of businesses. Researchers have also looked at organisational culture as a correspondent of human personality, reflected through a set of customs, practices, rituals, beliefs and thought processes that human beings carve up with one another when they work together and share commonly defined and agreed goals. Most commonly, culture is defined as ‘the way we do things around here’, Edgar Schein’s classic work defines the concept of organisational culture as “…the shared basic assumptions that make up the culture of a group can be thought of both at the individual and group level as psychological cognitive defence mechanisms that permit the group to continue to function.” Over the years, for businesses large or small, there is a strong correlation between organisational culture, learning, market orientation, and the degree of innovation embedded within the firms.
Boidurjo Rick Mukhopadhyay
added 2 research items
The digital transformation involved putting more resources and focus on consumer targets and insights. Marketing transformation involved shifting from the broader goal of satisfying customers to fundamentally delighting them by using improved data analysis to better understand (current and future) the needs and wants of customers. Instead of getting most of their insights from retailers as they did earlier, companies have now shifted to listening to customers. Research shows that 92% of consumers will believe a word from a friend or trusted individual over advertising, 20%-50% of purchases are the result of a word-of-mouth recommendation, and 81% of consumers are influenced by their friends' social media posts.
A) Understanding Internationalisation Internationalisation is the process of going global. The OECD in 2008 gave one of the crispest definitions by saying that Internationalisation is the process by which firms "initiate, develop, or sustain business operations in overseas markets" and participate in international trade. Therefore, it includes everything from exporting, opening offices and managing operations in other countries to selecting partners, building linkages with foreign investors, and also at the same time integrating into global value chains. The above applies to both SMEs and large corporations who choose to internationalise.
Boidurjo Rick Mukhopadhyay
added a research item
The digital transformation involved putting more resources and focus on consumer targets and insights. Marketing transformation involved shifting from the broader goal of satisfying customers to fundamentally delighting them by using improved data analysis to better understand (current and future) the needs and wants of customers. Instead of getting most of their insights from retailers as they did earlier, companies have now shifted to listening to customers. Research shows that 92% of consumers will believe a word from a friend or trusted individual over advertising, 20%-50% of purchases are the result of a word-of-mouth recommendation, and 81% of consumers are influenced by their friends' social media posts...
Boidurjo Rick Mukhopadhyay
added a research item
''The Stone age didn't come to an end because they ran out of stones". Building an economy where we could 'use' resources rather than 'use them up' and thereby crafting a future that would last in the long term. The economy is a part of society and society is part of the environment. In the living world, there is no landfill, instead, materials simply flow. The waste of one species is food for another. Things grow and fade in time, and nutrients safely return to the soil. We, humans, however, do 'Take. Make. Dispose of'. With increasing existing and new needs, we eat into the finite set of resources and therefore - more and more waste, less and fewer resources available. The question is how our waste could build capital rather than reducing the latter? So, the idea around the circular economy is if we could move to 'Make. Use. Return', both in mindset and practice, to be like the natural world. The central idea of circular economy is marrying resourcefulness, design thinking for products built to last and recyclable, retrieving raw materials, and change in ownership models.
Boidurjo Rick Mukhopadhyay
added 2 research items
Mukhopadhyay, B.R. and Mukhopadhyay, B.K. (2021). The ‘Customer’ in ‘Customer Service’, North East Colours, Editorial, 31st August
Boidurjo Rick Mukhopadhyay
added a research item
The Sequence in e-tailing business starts with a customer visiting an e-store, choosing products or services, adding them to cart, completing a secured payment, and then the final leg is the product delivery ending with the customer providing feedback. Electronic-retailing or simply ‘E-tailing’ uses web-space for creating virtual shops where intended products and services are displayed through images, listing adequate features, price, and above all the value that it creates for customers along with other businesses like suppliers and distributors to name a few. The e-tails thrive on customer satisfaction and review ratings above all. Typical benefits for going the e-tail way, i.e., setting up virtual shops instead of the traditional stores includes A) Reducing the hassle of creating, renting, maintaining space occupied by physical retail outlets, B) Instant and easy access to a shopping space from anywhere and anytime...
Boidurjo Rick Mukhopadhyay
added a research item
Mukhopadhyay, B.R. and Mukhopadhyay, B.K. (2021). CSR: The Good, The Bad, and the ‘Greenwashing’, Tripura Times, Post-Editorial, 4th August
Boidurjo Rick Mukhopadhyay
added 3 research items
‘Humane Leadership’ during Crisis - In addition to this, nourishing organisational culture and building relationship largely based on digital communication would still remain something to be continually improvised. While #WFH is a reality today, it is also about the mindset to identify new opportunities and improving a progressive attitude towards work, particularly in a virtual setting. In another study that interviewed over 2K individuals from a mix of industries reports that 33 per cent believe that the quality of their working relationships will suffer from continued reliance on virtual communication, whereas only 23 per cent think that their relationships might actually improve. Leadership skills such as openness, empathy, resilience, altruism, and also perhaps the most important ability of all - to communicate effectively are now of greater importance. Despite the devastating effects that the pandemic has on multiple sectors, it is also a time when leaders have recognised valuable opportunities for innovation. Some report that their organisations have pivoted operations successfully during the crisis by seeking out new markets and new ways of connecting to customers.
Following the first couple of months and lockdown, the first few worries were around financial security, the lack of boundary with home life as ‘work from home’ started taking over, heavier workloads with added screen time of course. The situation has been burdensome at higher levels for employees with disabilities. For example, US Labour statistics show that while one out of seven Americans has lost their job, it is one out of five for those with disabilities. For particularly the disabled employees, Bank of America took an exemplary stand in the industry. They provided constant support and also mentoring as needed to more than 300 such employees who were engaged in marketing and operations. While ensuring there is timely pay without any cut during the crisis, the Bank also provided drive-through flu shots which enabled employees to see their family or caregivers receive vaccinations right from inside a vehicle. The Bank also arranged for medications to be sent to employees’ home on a regular basis. These measures are not only good for strengthening psychological contract but also for supporting the mental well-being of employees.
Trial and error for creativity are a given. The first question that comes up - Is the Business innovative? If 'innovation' is your business then 'risk' is your business. Quite often, however, in common parlance, innovation and creativity are perceived to rather close. Harvard Professor Theodore Levitt points out, the difference between innovation and creativity is the difference between thinking about getting in the world and getting things done. Creativity thinks up new things, but being innovative does new things. Surely, creativity leads the way in as much as the same speaks of a mental process involving the generation of new ideas or concepts or new associations between existing ideas or concepts. It is better not to forget that the product of creative thinking has both originality & appropriateness. The product of creative thinking has both originality & appropriateness.
Boidurjo Rick Mukhopadhyay
added a research item
The multi-dimensional concept of organisational culture is not a ‘one size fits all’ concept, and therefore no ‘correct’, ‘proper’, or ‘standard’ organizational culture exists; a successful organisation can build a culture with strongly held core beliefs, norms and values that are practised and sustained over time - and these must allow the organization to achieve its larger mission and goals. Culture could be also built or/and influenced by the beliefs and vision of the founder of an organisation. e.g., how they set the organisation’s rules, the structure, and the choice of people they recruit. One good case in this context would be Ben & Jerry’s Ice Cream that we all love. The company was founded by Ben Cohen and Jerry Greenfield. Initially, they set up their ice cream store in a renovated gas station in Burlington, Vermont. Due to their innate social convictions, they decided only to buy from the local farmers and also share a part of their profits to charities. These values can still be observed in the company’s devotion to social activism and sustainability today. When Unilever acquired Ben and Jerry’s in 2000, both components of social activism and the use of environmentally-friendly remains unchanged. Similarly, for TOMS, whose slogan is ‘One for One’, since they give away one shoe to a poor child for free, for every shoe they sell.
Boidurjo Rick Mukhopadhyay
added a research item
Empirical evidence shows that during any crisis such as the pandemic today, consumers expect proactive action not only from their Government, civil societies, and local neighbourhood, but also the brands they buy from. If you are a business aiming to stay relevant, financially successful, and sustain a strong reputation - is not about what you do, nor what products and services that you sell, but more importantly - who you are and what is the meaning that defines your existence? However, marketing has many roles to play and one of the key ones is to keep the customers ‘informed’. Companies balance financial responsibility with the need to keep consumers informed and engaged when things are uncertain and for long. A research by the American Association of Advertising Agencies shares that 43% of consumers find it reassuring to hear from brands during the lockdown phase. In addition, 56% said they like learning how brands are helping their communities during the pandemic. Only 15% said they’d rather not hear from companies.
Boidurjo Rick Mukhopadhyay
added a research item
The Sequence in e-tailing business starts with a customer visiting an e-store, choosing products or services, adding them to cart, completing a secured payment, and then the final leg is the product delivery ending with the customer providing feedback. Electronic-retailing or simply ‘E-tailing’ uses web-space for creating virtual shops where intended products and services are displayed through images, listing adequate features, price, and above all the value that it creates for customers along with other businesses like suppliers and distributors to name a few. The e-tails thrive on customer satisfaction and review ratings above all. Typical benefits for going the e-tail way, i.e., setting up virtual shops instead of the traditional stores includes A) Reducing the hassle of creating, renting, maintaining space occupied by physical retail outlets, B) Instant and easy access to a shopping space from anywhere and anytime...
Boidurjo Rick Mukhopadhyay
added a research item
One could argue that Umbrella concepts like ‘globalisation’, ‘sustainability’, and ‘development’ are ideologically charged. Globalisation, in particular, has more than enough forces and dimensions to talk about, however, the most common take on it is from an economic viewpoint. Both proponents and opponents tend to perceive Globalisation largely from an economic viewpoint also. At the same time, studies on globalisation tries to identify the concept with the broad processes of technological, economic, political, cultural interrelationships. Glocalisation, on the other hand, is an amalgamation of ‘globalisation’ and ‘localisation’.
Boidurjo Rick Mukhopadhyay
added a research item
During COVID-19 period, the responsiveness of Human Resource Development (HRD) is a testament that HRD cannot be perceived as a static field; the breadth of the concept incorporates theory and practice toward attaining the goal of improving learning at work. Surely in this period, and across lands, the capabilities of organizations and national governments to deal with the complexities arising from the COVID-19 pandemic has been significantly tested. Since the pandemic has been a significant accelerator for the increasing use of digitisation and automation of work, it has showcased the potential for new communication technologies to enable many staff members to work effectively from home. The International Labour Organisation (ILO) estimated that 195 million full-time workers lost their jobs worldwide last year. Therefore, fast adapting employees pick up new skills that would increase their employability in the digital space.
Boidurjo Rick Mukhopadhyay
added 2 research items
During COVID-19 period, the responsiveness of Human Resource Development (HRD) is a testament that HRD cannot be perceived as a static field; the breadth of the concept incorporates theory and practice toward attaining the goal of improving learning at work. Surely in this period, and across lands, the capabilities of organizations and national governments to deal with the complexities arising from the COVID-19 pandemic has been significantly tested. Since the pandemic has been a significant accelerator for the increasing use of digitisation and automation of work, it has showcased the potential for new communication technologies to enable many staff members to work effectively from home. The International Labour Organisation (ILO) estimated that 195 million full-time workers lost their jobs worldwide last year. Therefore, fast adapting employees pick up new skills that would increase their employability in the digital space.
One could argue that Umbrella concepts like ‘globalisation’, ‘sustainability’, and ‘development’ are ideologically charged. Globalisation, in particular, has more than enough forces and dimensions to talk about, however, the most common take on it is from an economic viewpoint. Both proponents and opponents tend to perceive Globalisation largely from an economic viewpoint also. At the same time, studies on globalisation tries to identify the concept with the broad processes of technological, economic, political, cultural interrelationships.
Boidurjo Rick Mukhopadhyay
added a research item
The speeding chariot of Indian luxury market is led by the rising income of the middle-class population. Be it wearing Gucci or spraying its Gardenia, flaunting a Chanel’s tote bag or Balenciaga’s clutch in a weekend party, luxury goods have invaded the middle class’ indulgent wardrobe. Indian luxury market is projected to grow from the current US$40 billion to US$ 180 billion by 2025. Although, in terms of its share in the global luxury market our country is nowhere near to the Chinese (particularly, generation Z) who dominates this particular industry segment, globally. While newer brands are targeting specific income and age groups, tactically while embracing new-age fashion technologies, the older luxury giants are more reluctant to do so. Peter Drucker once said, “because the purpose of business is to create a customer, the business enterprise has two—and only two—basic functions: marketing and innovation.” The trend of luxury indulgence and consumption in India has shown how incoming western brands have invented new products tailored to specific tastes and wants of Indian customers. One classic example would be when Mercedes Benz introduced their compact luxury hatch back A class, specifically for Indian buyers. And now with AI, companies are digging into customers’ future wants and desire trajectory of luxury segments. The brands, however, need to equally focus on committed service as the Indian consumers are not typically of the same demographic or psychographic profile as the Chinese or Singaporeans.
Boidurjo Rick Mukhopadhyay
added a research item
The modern marketer or manager today has to consider global, local, and glocal factors in order to keep up or stay ahead of the curve given evolving market conditions and also new generation bespoke needs. The complacent approach of static marketing is certainly out of the discussion in as much as the IT revolution plus the possibilities that AI, deep and machine learning have to offer. Though it is widely known that internationalization is a process of firm expansion into new markets, yet the importance of marketing and marketing-related topics is often overlooked, thus leaving many international marketing players with an incomplete understanding of the marketing side of this important issue. There are cultural, regional norms, leadership and change, and also cross-cultural branding amongst others that need to be prioritized while planning. While in the past, trade was undoubtedly conducted internationally, but never before did it have the broad and simultaneous impact on nations, firms and individual households that it has today. Particularly, the scale of the same. Therefore, the global nature of modern economics influences one's decisions in any case.
Boidurjo Rick Mukhopadhyay
added a research item
Much (reasonable) Ado about Branding and its components HSBC. The world’s local bank. Clever. Pepsi brings you back to life. Not a smart one, since in Chinese this translates as “Pepsi brings your ancestors back from the grave[1]” Mercedes Benz branded itself as ‘Bensi’[2]. Blunder. “rush to die” is what ‘Bensi’ sounds like Chinese. A brand can be a name, term, sign, symbol or design, or a mix of them all[3], which are used to identify goods or services of one or a group of sellers. Branding helps in differentiation and enables consumers to recall memories, thereby facilitating the initial buying process, or perhaps triggering frequent purchases which brings customer loyalty. Historically, branding was pursued via effective advertising, both above and below the line. In the East and South Asian markets, however, word-of-mouth remains a key channel of marketing communication, leading to changes in the way branding has come about.
Boidurjo Rick Mukhopadhyay
added a research item
The 3Es of Business Branding - Efficiency, Effectiveness and Experience. It can be argued that although a business needs all three of them in order to sustain a successful brand, increasingly it's the ‘experience’ component that differentiates one brand from the other. It is not always about what makes you different but more importantly what differentiates you from others. It's increasingly difficult to have an efficiency advantage or even an effectiveness advantage. This article cites examples for each of the Es and in the end, contends that 'experience' is the strongest of the three.
Boidurjo Rick Mukhopadhyay
added 2 research items
If you have already managed to realise that whoever magically lives inside your phone when you say ‘Hey Siri’ or ‘Hey Google’, can read out emails to you, find the nearest movie theatre or reserve a restaurant table for you, then AI is already in your everyday life. When you are traveling and ‘real-time’ scans give current and projected weather data, identify a spam mail, and above all ever-evolving Google’s search engine are AI-powered. Businesses, big and small, are leveraging artificial intelligence in multiple ways. Large-scale organizations are already making the move towards intelligent data analytics. Two prime examples are chatbots and recommendation systems that we encounter online almost every day. This article reviews how AI helps in improving innovativeness and quality of decision-making on a daily basis.
Besides effective Leadership, Strategy, HR planning, actionable business ethics – it is Organisational Culture that tend to typically differentiate the extraordinary successful and long running companies from others. Organisational culture can be a competitive advantage and often sold as a company’s USP to attract the best talents in the industry. Sir Richard Branson once said, “train people well enough so they can leave, treat them well enough so they don't want to”. Organisational culture affects the way people and groups interact with each other, with clients and all stakeholders on a regular basis. Culture also tacitly influence how much employees identify themselves with their organisation. Simply put, organisational culture is “the way things are done around here” in organisations.
Boidurjo Rick Mukhopadhyay
added 2 research items
Boidurjo Rick Mukhopadhyay
added 3 research items
Mukhopadhyay, B.K. and Mukhopadhyay, B. (2020) Measuring, Mitigating and Managing Risk: The Role od Assertive Supervision. North East Colors, Feb 11th 2020.
The speeding chariot of the Indian luxury market is led by the rising income of the middle-class population. Be it wearing Gucci or spraying its Gardenia, flaunting a Chanel’s tote bag or Balenciaga’s clutch in a weekend party, luxury goods have invaded the middle class’ indulgent wardrobe. Indian luxury market is projected to grow from the current US$40 billion to US$ 180 billion by 2025. Although, in terms of its share in the global luxury market our country is nowhere near to the Chinese (particularly, generation Z) who dominates this particular industry segment, globally. While newer brands are targeting specific income and age groups, tactically while embracing new-age fashion technologies, the older luxury giants are more reluctant to do so. This article reviews the needs and wants of Indian luxury buyers as well as shows how luxury brands understand and act tailored to the Indian market.
Find the gap, and fill it – A business may have been just all about that, yesterday, but not today. Most sectors are swimming now in ‘Red Ocean’, from Airlines, Finance to Higher Education. Developing and sustaining a niche is also equally tricky. Success takes many shapes and sizes today, it could mean a long term phenomenon – continual market scans, adapting to change-friendly and cross-cultural approaches, re-prioritising stakeholder needs, and aspirations. The process of strategy building and implementation also requires a quick adaptability mechanism to tailor to ever-changing market scope and direction. However, it is important for companies to stick to their original values and mission to maintain originality and a responsible image. ‘When the goal becomes difficult to reach, change the steps and not the goal’ as Aristotle rightly opined.
Boidurjo Rick Mukhopadhyay
added a research item
"Ingredients sourced locally" or "banking with care" or "our supply chain is green" don't tend to create much buzz as it did in the early 2000s. Essentially, it all comes down to trust. People tend to trust and judge what others have to say, which means when they hear about something from a friend or previous consumer, they're more likely to buy. The digital transformation involved putting more resources and focus on consumer targets and insights. Marketing transformation involved shifting from the broader goal of satisfying customers to fundamentally delighting them by using improved data analysis to better understand (current and future) needs and wants of customers. Instead of getting most of its insights from retailers as it did earlier, companies have now shifted to listening to customers. This article reviews, with examples, how word-of-mouth has emerged as a powerful marketing communication tool and also the recognition of culture of innovation, values & beliefs, use of the right currency by brands play an important role in leaving a lasting impression on target customers.
Boidurjo Rick Mukhopadhyay
added 2 research items
Luxury purchases are no longer limited to a particular set of income earners; the exponentially growing sales of these luxury goods is being led by the middle-class, with the Chinese blazing the trail globally. The luxury industry has surfed richly on this trend that has extended from sluggish developed countries to robust developing and emerging countries. In less than a decade, these nouveau riche markets have been the prime market for the luxury industry. As one from BRICs with young, wealthy millennials and also Gen Z, China dominates the global luxury consumption market. One of the potential and fast-growing segments of Chinese consumers is the youth, in mainland and also especially those studying overseas. UK is a big market for luxury good industry and most of the Universities, especially business schools, heavily enrolls Chinese Students. This research investigates the luxury value perception of the Young Chinese in the UK. The objective of the paper is to empirically test the generalisation of the well-established model of luxury value perception on this particular customer group of luxury goods. The four dimensions - individual, social, financial and functional values are evaluated, followed by a series of sub-dimensions. A mixed-method qualitative approach was adopted that included individual, personal interviews and online surveys to assess the importance of sub-dimensions of luxury values. Selected empirical research also has been used to test the generalisation of the model, and the implications will equip researchers and industry managers of luxury goods with a better understanding of young Chinese customers in the UK.
"Ingredients sourced locally" or "banking with care" or "our supply chain is green" don't tend to create much buzz as it did in the early 2000s. Essentially, it all comes down to trust. People tend to trust and judge what others have to say, which means when they hear about something from a friend or previous consumer, they're more likely to buy. The digital transformation involved putting more resources and focus on consumer targets and insights. Marketing transformation involved shifting from the broader goal of satisfying customers to fundamentally delighting them by using improved data analysis to better understand (current and future) needs and wants of customers. Instead of getting most of its insights from retailers as it did earlier, companies have now shifted to listening to customers. This article reviews, with examples, how word-of-mouth has emerged as a powerful marketing communication tool and also the recognition of culture of innovation, values & beliefs, use of the right currency by brands play an important role in leaving a lasting impression on target customers.
Boidurjo Rick Mukhopadhyay
added 6 research items
key words: business ethics, internationalisation, born global, institutions, mergers and acquisitions, BRICs, Asian Tigers, Silicon Valley, Sweatshops, corporate governance, China
Key words: innovation, multiculturalism, internationalisation, sports industry, personal branding, bandwagon, China, Nike, crossing the chasm, institutions
Contemporary evidences across markets suggest that finance need not be solely pro-growth but also rather more importantly pro-poor. Economies with better improved financial systems experienced faster and sustained reduction in both income inequality and levels of poverty. For ensuring fast and consistent economic and social development, a well-functioning financial system is an essential pre-requisite while also the depth, capability and efficiency of the financial system. An appropriate set of financial sector policies calls for encouraging on the one hand competition and providing the right incentives to the individuals, while on the other hand extending necessary support to foster growth, poverty reduction and better distributive justice making full use of the capabilities. Improving financial access in a manner that is tailored to needs of the poor calls for adoption of strategy for inclusion that looks beyond credit for poor households, it is vital to broaden the focus of attention by improving access for all who remain excluded.
Boidurjo Rick Mukhopadhyay
added a project goal
Exploring the nexus of cross-cultural institutions, newer forms of marketing and communication, post-pandemic customers, financial planners and also international businesses.