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  • Artificial Intelligence: Boon or Curse? by Prachi Saswade | Podar Eduspace

    < Back Artificial Intelligence: Boon or Curse? by Prachi Saswade Artificial Intelligence is used in almost every sector in the world today, extensively in the business world. There are many discussions about the impact of AI, both positive and negative. Introduction Artificial Intelligence (AI) is a term that has been floating around for a couple of decades. The definition of AI has been evolving, but the most widely accepted was given by John McCarthy in 2004, in his paper, What is Artificial Intelligence? : “It is the science and engineering of making intelligent machines, especially intelligent computer programs. It is related to the similar task of using computers to understand human intelligence, but AI does not have to confine itself to methods that are biologically observable”. The definition of AI has multiple approaches, but remain in line with the word, “intelligence”, specifically intelligence that is akin to that of humans. However, in the widely renowned authority in the field, Stuart Russell’s textbook, Artificial Intelligence: A Modern Approach , states that, "AI is concerned mainly with rational action. An ideal intelligent agent takes the best possible action in a situation” (Russell & Norvig, 2021). The multiple mentions of “intelligence" and “rationality” date back to Alan Turing, who in his 1950 paper, Computing Machinery and Intelligence , asked the question, “Can machines think?”. This was succeeded by the infamous “Turing test”. This paper started the conversation about AI, and while the test has been controversial over the years, it is an important part of the AI history. Shortly after Turing’s paper, John McCarthy coined the term “Artificial Intelligence” during the first AI conference held at the Dartmouth College, New Hampshire, United States. In the same year, Allen Newell, J.C. Shaw, and Herbert Simon, created the first ever running AI program, called the Logic Theorist . About a decade later, Frank Rosenblatt built the Mark 1 Perceptron , a computer based on neural networks that learn through “trial and error”. The 1980s saw a rise in the usage of the back-propagation algorithm that allowed the neural network to train itself. These networks were then used in AI applications. Soon after, in a historical feat by IBM, “IBM's Deep Blue beats then world chess champion Garry Kasparov, in a chess match (and rematch)” (IBM Education, 2020). AI has evolved through multiple trials, and based on the concept of applying human-like intelligence and rationality to computer decision making. The many industries working in the field have seen the massive adoption of the technology and continue their research on making it more and more “human” each day. Level of Involvement of AI in our Daily Life Artificial Intelligence has crawled into our lives and has become an integral part of it. AI is used in multiple fields in the present day that many-a- times we are not even aware that AI is being used there. Currently AI is being used all around the globe day and night. Forbes created a list of ten examples of how AI is used in its article, The 10 Best Examples Of How AI Is Already Used In Our Everyday Life . The list includes, technologies like FaceID, social media, digital voice assistants, etc. Starting with the most basic one, unlocking your phone. Apple’s FaceID technology uses artificial intelligence and 3D scanning to register the user’s face demographics. “It then uses machine learning algorithms to compare the scan of your face with what it has stored about your face to determine if the person trying to unlock the phone is you or not” (Marr, 2019). Continuing on the same spectrum, social media uses AI to curate each user’s feed based on their history of liked posts, and engagement to certain content. The machine learning algorithms also aid in filtering out false news and content that multiple users have engaged with. Engagement with content requires the accompanying text to be written well, this requires tools such as Grammarly. Grammarly uses AI and natural language processing to ensure that its users focus on writing and leave the grammar to Grammarly. This technology is being used for professional emails, and any other writing that a user might require. Many smart homes are in trend now and the the vital component of these smart homes are smart home devices like Alexa, Google Assistant, and HomePod. These smart devices use AI to to keep learning from the user’s usage patterns. Amazon recommendations is one of the more well known AI technology. Based on the user’s past order history, and searches, the recommendations for products are personalised. Along the same lines, Netflix uses AI and the past viewing history in the same way. Netflix is known for its spot-on personalised TV show and films recommendations for its consumers. Lastly, “Google maps and other travel apps use AI to monitor traffic to give you real-time traffic and weather conditions as well as suggest ways to avoid gridlock” (Marr, 2019). Many car companies now have an in-built mapping system in the cars and this further allows the user to commute with ease. The AI technology is only growing more and more each day, and is being integrated into our lives rapidly. It is only time before every commodity we use will have some enhancements made to it to accommodate artificial intelligence. Various Approaches to integrate AI seamlessly Approaches to AI has a different connotation in the setting that it is being used in. For example, approaches to that drive AI research includes – cybernetics, symbolic and sub-symbolic approaches, as well as, the statistical approach (Milošević, 2013). At the same time when one talks about integrating AI into business, the approaches change from concrete terms to an instruction manual, almost all ending with the advice to “start small”. In the general context, however, we have four main approaches to AI – reactive machines, limited memory, theory of mind, and self-awareness. These four approaches are based on the behaviour of the machines that will use AI. Reactive Machines The most basic AI systems are based on reactivity only. These machines often are good at predictions based on a certain set of rules, games such as chess. These machines only “react” to a situation, with no meaning of the past. They have no memory of the past, and only works in the present moment. IBM’s Deep Blue, the chess-playing computer is a notable example of this approach. “Deep Blue can identify the pieces on a chess board and know how each moves. It can make predictions about what moves might be next for it and its opponent. And it can choose the most optimal moves from among the possibilities” (Hintze, 2016). This means, Deep Blue only processes the chess pieces in front of it at present and chooses its next move. It does not look back for any previous references. AI researcher Rodney Brooks, in his paper argues that all machines should be built on this system. His reasoning for this was that the programming for such stimulated worlds was often not accurate enough and did not provide a valuable “representation” of the world (Brooks, 1991). Reactive machines can be “easily fooled” because they have no concept of the world outside of the rules they are set within. These machines however, can prove to be extremely impartial as they only react to what is presented to them in real-time. This suggests that might prove to trustworthy due to lack of emotional engagement. Limited Memory The limited memory machines are considered the Type II class machines. These machines have an ability to look into the past. The best example of this is seen in self-driving cars. Self-driving cars require the programmed world to have representations that are pre-programmed, such as traffic rules, or routes in the city, etc. These are also included when the car has to change its lane and avoid an accident. “But these simple pieces of information about the past are only transient. They aren’t saved as part of the car’s library of experience it can learn from, the way human drivers compile experience over years behind the wheel” (Hintze, 2016). It has been noted by both Brooks, and Hintze that it is difficult to build AI systems that are full of representations, as well as, remember experiences and learn how to tackle newer situations. Hintze has applied the Darwinian evolution to his research to let machines build their own representations. Theory of Mind “[Theory of mind is] skill that involves the ability to think about mental states, both your own and those of others” (Cherry, 2021). This psychological concept introduces the next class of machines. These machines are far more advanced and as the theory of mind suggests, form representations of not only the world, but also about other participants or agents that exist within it. The example of this would be Sophia, the AI robot. As one see, Sophia can not only answer questions, but connect to various entities around her. Self-awareness Self-awareness is the last approach to AI systems. This system is the most advances class of machines, wherein, the machines can build representations about themselves. Many researchers are looking to build AI systems that have a consciousness, not just understand it. This is a step up from the theory of mind, as here, the machines will be able to make inferences about other entities in the same way human rational thinking does. According to Hintze, “we are probably far from creating machines that are self-aware, we should focus our efforts toward understanding memory, learning and the ability to base decisions on past experiences” (Hintze, 2016). This however, does not dampen the possibility that we might live in a world where AI systems will be advanced enough to have a consciousness. Impact of AI and its Major Benefits Artificial Intelligence is used in almost every sector in the world today, extensively in the business world. There are many discussions about the impact of AI, both positive and negative. The impact of AI has brought on multiple questions, especially ones around employment of labour. In his paper, The Forthcoming Artificial Intelligence (AI) Revolution: Its Impact on Society and Firms , Spyros Makridakis discusses the impact of AI on developing countries. According to him, this revolution will be more “pronounced” in the developing states for two reasons. Firstly, the use of machinery will replace the skilled and unskilled labour, this will result in foreign (developed) countries to remove their investments in the still developing countries. Secondly, “developing countries will be at a disadvantage by not being able to invest in expensive AI technologies, particularly since such technologies will reduce the demand for human labour thus further increasing unemployment” (Makridakis, 2017). To solve this, Makridakis suggests that “[educating] their young people in AI technologies and by doing so become able to attract investments from abroad as well as manage to exploit the “sharing economy” (Makridakis, 2017). However, he also emotions that his might prove to be very difficult. The impact of AI will soon be seen in almost every factory across the globe, but in order for everyone to adopt the technology, the acceptance for it must be present. However, all of AI is not bad news. There are multiple benefits to AI technology. For starters, it helps for smarter business decisions. It can also help, in enhancing the customer experience, medical advances, research and data analysis, solving complex problems, among others ("Top 10 Benefits of Artificial Intelligence (AI) | 10xDS", 2020). AI is also great at minimising errors and completing repeated tasks. This is extremely beneficial for companies that use data mining for decision making, and other activities. One example of this would be the clickstream analytics. This technology is used by multiple social media apps, as well as, companies like Amazon. They use the data generated when the user visits the website of an advertised product or service. This data then uses AI to target similar ads to the consumer, which for companies like Amazon, leads to the consumer purchases. Another benefit seen in this field is use of AI in chatbots. Chat bots are present on almost every company’s website today, and these are often run by AI. The AI scans through the frequently asked questions to provide an answer to the user within seconds. This technology reduces the time and allows a filtration of questions sent to the (human) employee to answer. These chat bits are now being used by banks as well. This technology is evolving rapidly and steadily. The integration of AI into our lives is increasing by the day, and like most technology invented to date, will only serve to make our lives easier. That being said, one must not ignore the problems that it comes with. Associated Problems and Pitfalls AI has been a game changer in many sectors of the world. However, there have been many negatives attached to the technology. As mentioned before, one of the associated pitfalls is the impact the technology has on the developing countries. Other than that, there are multiple common challenges in AI such as, computational or hardware problems, lack of trust, lack of human-level experimental management, data security and privacy issues, and lastly the biases in the dataset. As the world moves on to work with AI, the hardware for such upgradation requires enough cores and GPUs to work efficiently. This can take a monetary toll on any small company that is just starting up. Moreover, any company that is planning to move to AI will have to consider their options and make financially beneficial decisions. The lack of trust stems from the unknown networks that deep learning uses to come to conclusions. The logic is still muddy and can cause a string of worry for the users. This also brings to light the “human experience” into play. Humans use experiential knowledge to make further decisions. While one can argue that AI does the same, human accuracy based on other factors (social, economic, and cultural) is far greater. Data privacy and security have been in the spotlight, especially since the FaceBook privacy case. The data that deep and machine aligning models use comes from across the globe and is generated by a large volume of users. The company collecting the data needs to be trustworthy, and it goes without saying that many companies might not always have good intentions with their clientele’s data. Lastly, the issues of biased dataset. Unfortunately, a large portion of the data that the algorithms receive is biased. The bags may be based on religion, gender, or race. The data collected can also be biased in the way the algorithm is programmed, i.e.. the programmer or interpreter’s biases can come into play in these situations. These issues can seem daunting, especially for those who are new to this territory. However, AI algorithms can be created to reduce biases, and for this reason AI ethics exists. These ethical guidelines are followed around the world and reduce the negatives in this technology. Proposed Applications of AI in Coming Years AI has shaped the tech world, and given it a new form. According to IBM, AI advances would not be possible without a formula that contains three things: “the rise of big data combined with the emergence of powerful graphics processing units (GPUs) for complex computations and the re- emergence of a decades-old AI computation model—deep learning” ("The new innovation equation", n.d.). The future of AI will see these elements have a makeover. The rise of small data, and deep reasoning will be seen soon. According to the University of Southern California’s researchers, AI will change the entertainment industry, medicines, cybersecurity, vital tasks like help for the elderly, and transportation (Gammon, 2017). Netflix has been using AI and machine learning techniques for a while now, and it will only get better. The addition of more streaming platforms can revolutionise the entertainment industry in the near future. With the help of AI, “film studios may have a future without flops: Sophisticated predictive programs will analyze a film script’s storyline and forecast its box office potential” (Gammon, 2017). Additionally, a user can also ask these platforms to create “virtual actors” and make a custom movie right at home. A more personalised approach to medicine can be seen on the horizon. With genome sequencing technology already in boom, the medicines that a patient might need can be altered to the patient’s genome and provide for a more effective treatment. Moreover, AI will help health care analyse a patient’s health based on more factors like lifestyle, environment, and genes. The detection of any tumours, or diagnosing basic ailments will also be done by AI. Having a large volume of data generated by users of a certain application comes with the potential risk of hackers and data breaches. “There were about 707 million cybersecurity breaches in 2015, and 554 million in the first half of 2016 alone” (Gammon, 2017). According to USC, AI’s ability to self-learn and automate can be a fruitful solution to remain one step ahead of the hackers. This will ensure the security of billions of people across the globe. Security and safety are utmost important human values, but so is independence. Many elderly citizens around the globe struggle to do daily tasks, or often require someone keeping an eye on them. With the working culture, they are usually left to look after themselves. AI tools around their areas of living can provide for a monitor on their movement, as well as, help with reaching objects on a high shelf, and ensure the supply of nutritious food. Moreover, these tools could mow their lawns, and help with maintaining the general hygiene of their residence. Additionally, AI assistance can be extremely useful in tasks such as mining, firefighting, and handling dangerous materials. We are already seeing a rise in self-driven cars. However, in the future this might expand into the public transportation systems as well. These AI driven vehicles are often much safer than humans, as they never get distracted but he radio or the other passengers in the cars. These are just the proposed application of AI, and there definitely will be more as the days pass by. The importance of AI will just increase multi-fold and defining only a certain amount plausibilities of its future can prove to be limiting its true potential. Future Predictions – Boon or Curse AI has seen a slow burn for a while but is deemed to explode into every aspect of our lives soon. That being said, the question still remains, is Artificial Intelligence a boon or a curse? AI has more benefits than we can count, and like every technology ever invented, it is here to make our lives easier and better. AI has seen better healthcare, better production, and better decision making. One cannot argue that AI saves us from repetitive and ‘boring’ tasks form time to time. Additionally, its capacity to sift through large volumes of data, or big data, is unmatched. To repeat the same tasks but using only human workforce will take years. That being said, AI also comes with its own pitfalls. Relying on technology can make some people wary, especially with multiple security and data privacy issues. According to multiple people, AI still does not understand human values like privacy, and in many ways cannot match a human’s emotional and social intelligence. AI can only use the provided information and come to conclusions based on the algorithms provided by the programmer, and is quite redundant by itself, unlike humans. AI can only be more “like” humans, but cannot be completely “humane”. AI when looked at as a tool can provide for millions of possibilities, and that might be the best way to look at it. AI can be used for multiple mad- practices, and ethics can only get one so far. Ethics are important, and in order for every user of AI to implement and respect them, there need to be strict judicial laws across the globe to ensure the safety of the people. The technology is still evolving, and it might be wise to wait a little longer to categorise it as a “boon” or a “curse”. No technology can ever fit into only one category, each one comes with its own pros and cons. With AI, we might need to wait until we can see which one outweighs the other. Bibliography 1. McCarthy, J. (2007). What is artificial intelligence?. 2. Russell, S., & Norvig, P. (2021). Artificial intelligence: A Modern Approach (4th ed.). Pearson Education Limited. 3. Turing, A. M. (2009). Computing machinery and intelligence. In Parsing the turing test (pp. 23-65). Springer, Dordrecht. 4. IBM Education. (2020). What is Artificial Intelligence (AI)? . Ibm.com. Retrieved 28 June 2022, from https://www.ibm.com/cloud/learn/what-is- artificial-intelligence. 5. Marr, B. (2019). The 10 Best Examples Of How AI Is Already Used In Our Everyday Life . Forbes. Retrieved 28 June 2022, from https:// www.forbes.com/sites/bernardmarr/2019/12/16/the-10-best-examples-of- how-ai-is-already-used-in-our-everyday-life/?sh=205c28bf1171. 6. Milošević, N. (2013). Approaches to artificial intelligence . Inspiratron.org - Natural language processing, machine learning and cybersecurity. Retrieved 1 July 2022, from https://inspiratron.org/blog/ 2013/05/10/approaches-to-artificial-intelligence/. 7. Hintze, A. (2016). Understanding the Four Types of Artificial Intelligence . GovTech. Retrieved 1 July 2022, from https:// www.govtech.com/computing/understanding-the-four-types-of-artificial- intelligence.html. 8. Brooks, R. (1991). Intelligence without representation. Artificial Intelligence , 47 (1-3), 139-159. https://doi.org/10.1016/0004-3702(91)90053- m. 9. Cherry, K. (2021). Why the Theory of Mind Is Important for Social Relationships . Verywell Mind. Retrieved 1 July 2022, from https:// www.verywellmind.com/theory-of-mind-4176826. Artificial Intelligence (AI) – Boon or Curse? 17 10. Makridakis, S. (2017). The forthcoming Artificial Intelligence (AI) revolution: Its impact on society and firms. Futures , 90 , 46-60. https:// doi.org/10.1016/j.futures.2017.03.006 11. Top 10 Benefits of Artificial Intelligence (AI) | 10xDS . 10xds.com. (2020). Retrieved 2 July 2022, from https://10xds.com/blog/benefits-of- artificial-intelligence-ai/. 12. Vadapalli, P. (2021). Top 7 Challenges in Artificial Intelligence in 2022 | upGrad blog . upGrad blog. Retrieved 5 July 2022, from https:// www.upgrad.com/blog/top-challenges-in-artificial-intelligence/. 13. The new innovation equation . IBM Cognitive - What's next for AI. Retrieved 7 July 2022, from https://www.ibm.com/watson/advantage- reports/future-of-artificial-intelligence/ai-innovation-equation.html. 14. Gammon, K. (2017). 5 Ways Artificial Intelligence Will Change the World by 2050 . USC News. Retrieved 7 July 2022, from https:// news.usc.edu/trojan-family/five-ways-ai-will-change-the-world-by-2050/. Previous Next

  • NGOs in the Indian Landscape by Dodda Teja Adarsh | Podar Eduspace

    < Back NGOs in the Indian Landscape by Dodda Teja Adarsh India as a country: Our eyes reach the stars, our feet are going down quicksand. With a robust state network system and a far-reaching executive, India is still not even close to even achieving universal access to basic services. This glaring gap is taken care of by the intricate NGO sector. We will now explore deeply, the various aspects of this system that has developed over the years in India and how it is at the brink of exponential reform but at the same time struggling for revival and still reeling from the Covid-19 pandemic, while everyone still tries to imagine how India would have made it out of the crisis if not for these organizations. Are we about to bite the hand that fed us in the time of our need? HISTORY AND EVOLUTION The NGOs began in Gujrat in 1871 as the Bhil Seva Mandal. It began as a development movement for tribes. Following independence, Mahatma Gandhi sought to convert the Indian National Congress into a voluntary Public Service Organization, but his request was denied. Later, many service organizations based on Gandhian principles were founded by ardent Mahatma Gandhi supporters. Actually, there was a time when there were plenty in Gujarat and other parts of India as well. Seva, Eklavya, Disha, and others are among them. However, the actual registration of NGOs occurred only in the 1970s, and this surge in the numbers tells us a lot. The government readily accepted and encouraged NGOs. and the upsurge in their numbers. Post the independence period, there was a change in the perception of the government about the developmental activities and how they would be perceived and implemented by the government itself. Though in the 1950s in the 1960s it was assumed that the economic growth can only be achieved through state implementation of policies and poverty can be thus removed, this changed in the decades after that. Hello there were many welfare programs launched by the government to help the lowest of the poor communities and help them in participating in the various schemes that are aimed at improving the economic growth of the country there were many community development efforts launched by the ministries of agriculture and ministry of rural development 4 helping though public participate in these activities but the responsibility of launching and executing the social welfare programs was vested with the ministries of the state governments itself due to this, the NGOs were approached by the national government and its agencies to help in the execution and far reaching implications of these developmental and welfare programs of these communities especially in the rural areas. In its sixth Five-Year Plan, the Government of India coined the phrase "GARIBI HATAO." This had an underlying stress for the development of NGOs, and in the seventh five-year plan, they emphasised "Self-Reliance Communities" under rural development. The government has been promoting a national network of non- governmental organizations (NGOs) in the eighth Five-Year Plan. In the ninth Five- year Plan, the government encouraged PPP (Public Private Partnership), and by the tenth Five-year Plan, the government endorsed creating awareness among farmers about innovative farming methods and more initiatives to that end. Not only does the government encourage and promote these NGOs, but it also provides financial assistance to them. ROLE AND LEGALITY OF NGOS Numerous committees have indeed emphasised their significance in a variety of ways. In 1957, the Balwantry Mehta Committee emphasised the importance of non- governmental organizations (NGOs) in tribal developmental programs. Even in five- year plans, the need for and importance of NGOs was emphasised. Again, the 1966 Rural-Urban Relationship Committee also reaffirmed the role of non-governmental organizations (NGOs) in local government, development through community mobilization. Later, the Dhebar Commission expressed its concerns. Same belief that non-governmental organizations must work at all levels, involving all stakeholders i.e., people from the area. The government of India established another committee known as the Sivaram Committee for tribal community development who have identified the importance of NGOs in the executionary activities for welfare schemes. NGOs have traditionally played a significant role in this regard in terms of developmental activities. In the Indian Context, NGOs play a crucial role in many ways like: Acting as a societal social valve by organizing public inconvenience and grievances and advocating their problems at higher levels catering to their needs. They act as the voice of the poor and needy. They become a crucial part in the checks and balances system of the Indian state and improve government efficiency and performance by constant maintenance of accountability and public scrutiny. NGOs are also given power to make suggestions and improve the policy making and regulatory capacities by accepting an advisory role. NGOs take up the service-provider role in the society and become the first point of contact and a structured mechanism for the public, especially the disadvantaged communities, who are facing any socio-economic difficulties and lend a valuable helping hand and take part in conflict resolution and thereby cultivating a trust-based environment. They act as a very important catalyst in improving the participation in community activities and thereby bring up the voices and opinions, mainly the underprivileged sections, previously unheard of, especially in a wide and diverse country like India. One of the most significant roles played by an NGO is of empowering women. They have done the best work in improving gender equality and have made major strides in removing stereotypes and barriers faced by women for getting integrated into the monetary economy. These organizations play the most neglected role of ensuring the building of a sustainable environment around us. Since, no one is willing to compromise their present needs, they do the most necessary damage control and ensure that all the development that is being taken up here forth will be sustainable in nature. In India, and NGO can be formed under 3 aegis: As a Trust, which will act as a public charitable organization and governed by the Indian Trusts Act of 1882. A Public Charitable Trust has the entire society as its beneficiary and the assets of that trust must be used only for the welfare of the public at large. As a Society, which will be a voluntary body of large public participation and an elected governing body. It is mandated majorly by the Societies Act, 1860. It will consist of an MOA and regulatory bylaws and must inform the necessary authorities (The Registrar of Society in most cases) about any and all changes in their quorums. As a Section 8 Company, as a legal entity formed for the purpose of art, culture, charity or any other useful objects. It will be regulated by the Companies Act of 2013. It will be formed similarly to a Public Limited Co. or a Private Limited Co. and the MOA and AOA will act as the legal objects of the company. Other than this, trade unions and cooperative societies are also sometimes treated as NGOs. TYPES OF NGOS The various political developments like the rise in Marxist belief, the Naxalite movement the Lohiate and Gandhian influenced movements during the 1960s to the 1980s has caused the NGO sector to develop into two distinct types. These were basically developmental NGOs and empowerment-based NGOs. The developmental NGOs took up participatory and innovative approaches to work along the concrete sectoral activities that were in relevance to the various poverty groups in the rural areas of the country. While the empowerment NGOs have formed poverty groups across different communities these and help them in their efforts to address the very root causes of poverty such as the caste and class systems along with the lack of access to markets etc. As a result of these differentiations, there were 4 major types of NGOs that were formed by the late 1980s these are welfare NGOs, development NGOs, empowerment NGOs and social action groups. But the former both types of organizations entered into various collaborative practices with the government the other 2 frequently went against the policies and legislations and asked for reforms and amendments etc. Currently, we can identify 8 major types of NGOs: Operational NGOs These are grassroot level organizations working generally in a local or a single small project location focused on developments in that particular area of interest. These organizations are generally very small in size. They majorly consist of charity and welfare-based NGOs, development-based NGOs, and social action groups that are basically focused on mobilising the public of that local unit and empowering them to make use of the services in order to break the cycle of poverty. Ex: MANAVLOK, WOTR Support NGOs These are basically the group of organizations that provide various services today grassroot level organizations in order to strengthen and support the capacities of these organizations and expand them into a wider ambit and multiple locations. They work with a multitude of government bodies like the Panchayati Raj and district level cooperatives and administrative bodies and provide them with the physical and skill based infrastructural capabilities and also act as the public image of these NGOs by bringing out periodic information about the developments across the arena. Ex. SOSVA, SEARCH Network NGOs They are the umbrella organizations that are either formal associations or informal union of various grassroot level or support based NGOs woven into an intricate thread of support systems learning from and working with each other into developing the quality of the services that they are engaging in. They act as a forum for the improvement of the activities carried out by these NGOs and take part in lobbying and advocacy. Ex. FEVORD-K Funding NGOs The very basic activity of the creation of funding NGOs is to provide the financial resources that are required by the operational NGOs in their day-to- day activities. they are designed in such a way to attract financial resources either from Indian or foreign sources to a wide range of activities spread across multiple organizations and areas. Ex. Dorabji Tata Trust, Aga Khan Foundation Protection NGOs These are the organizations that engage in providing relief for disaster management purposes they are focused on the areas that have been the victims of any natural disasters recently and help the local in upgrading their life and quality by engaging in developmental activities to recover any property loss that has happened as a result of such disasters. Ex. Hind Rise, Rapid Response Prevention NGOs These types of organizations are created for the purpose of acting as a shield for the citizens and reducing their vulnerability and limit their exposure to fraudulent practices or companies and ensure safety for its consumers. Ex: Common Cause, VOICE Promotion NGOs This category of organizations has been made to help the developmental paradigm and increase the quality of life by providing better chances and opportunities for people facing degraded life conditions. They embark on this by acting to provide better education sanitation and health services etc. in underprivileged communities. Ex. Unnati, Steps Aid Transformation NGOs These organizations are basically the various pressure groups that are created to act as a representative body for various underprivileged communities in the political and economic arenas and help in the formulation and implementation of laws and policies in especially local governance structures. Ex. Janagraha MAJOR CONTRIBUTIONS NGOs in India take up various activities like advocacy and raising awareness by taking part in research and analysis and informing the public about the most prevalent issues, acting as a broker between governmental agencies and social groups, a conflict resolutory body, act as a capacity building agent by providing education and training programs, service delivery organizations for government schemes, and acting as a watchdog of the state. There are various organizations working in multiple sectors and contributing to change in the society like: Education With India spending just as much as 3% of its GDP on education despite the benchmark of 6% set in 1968, only increases the importance of NGOs working in this sector. There have been many organizations contributing hugely to the improvement of education and literacy in rural and urban poor areas. They work in different arenas like the K.C. Mahindra Trust working for improving education for girl child, Ibtada working for contemporary skill development- based education through provision of modern infrastructure like computers etc. or the Vidya Poshak who take orphaned children, educate them until they attain a job. Healthcare The huge gaps in the infrastructure on the Indian healthcare system were blatantly exposed by the Covid-19 pandemic, despite this, some organizations have worked tirelessly in improving the quality of healthcare received in India. Organizations like Doctors for You, reaching the most neglected and extremely poor areas and providing basic health facilities there, Swasth Foundation building a sustainable rural health ecosystem, CanKids KidsCan improving the lives of cancer afflicted kids. Environment Protection Sustainability is now a very looked after tool and grows in importance as climate change becomes a harsher reality every day, the Indian NGO sector has made significant changes in these perceptions of society and are working towards more increasing green practices. Few like the Mukti foundation working in the revival of the Sunderbans Forest, Environmentalist Foundation of India rejuvenating freshwater lakes and Janmitram Kalyan Samiti promoting solar fields. Human Trafficking Estimates say that every year, 16 million people, mostly women and children are victims of human trafficking in India and in most cases end up as sex workers with nowhere to go, there are many dedicated organization working towards improving and rehabilitating these victims. Some of these are Rescue foundation working to integrate victimized kids back into regular life, Prajwala running transition centers for women in prostitution and their children, Vipla working on getting women involved in prostitution employable through skill development. Mental Health With an abysmal mental health physician to person rate of 1-1,00,000; India needs a lot of progress done on the awareness of mental health. Some of them are Mindroot Foundation combating mental illnesses and substance abuse in rural children and LonePack removing stigma among students across India. CSR POLICY AND EFFECTS ON NGO SECTOR CSR (Corporate Social Responsibility) is becoming an increasingly important component of a company's overall strategy. Corporate social responsibility refers to a company's conformity with its social and environmental responsibilities. Under this philosophy, businesses choose to actively contribute to a healthier society and a peaceful world. Corporations use the concept "social and environmental responsibility" to identify their desire to incorporate social and environmental aspects into their organizational processes and stakeholder relationships. It is defined by its business practices and social investments. Businesses, according to the sustainability principle, should make their decisions based not only on profits and dividends, but also on current and long social and environmental consequences. CSR is an organization's duty on the effect of its actions and functions on society, the environment, as well as its own financial well-being, which is sometimes referred to as the TRIPLE BOTTOM LINE of people, planet, and profit. Charitable impulses in family businesses develop into long-term coordinated philanthropic activities, leading to the formation of corporate social responsibility. CSR involves every unit and staff, and each has a specific task to complete. CSR is also a company-wide initiative that encompasses manufacturing, distribution, and even marketing. Over the last four years, the Companies Act of 2013 has provided Corporate Sustainability in India a new outlook on life. Companies with a net worth of Rs 500 crores or more, income of Rs 1,000 crores or more, and a profit margin of Rs 5 crores or more are necessary to submit a minimum investment in corporate social responsibility in order to comply with the law. India is the first country to impose a cap on CSR spending. The Indian government has launched new CSR requirements that oblige businesses to promote a brighter future in order to promote a brighter future and to invest 2 percent of their net profit in social development. Until the 1990s, philanthropy was the dominant concept of corporate social responsibility (CSR). Companies that view CSR as a philanthropic act are more likely to make one-time financial gifts rather than investing in socially responsible ventures. Furthermore, when implementing such programs, companies failed to consider stakeholders, lowering the quality and effectiveness of their CSR efforts. However, social responsibility has evolved in recent years. Giving as a benevolent act or obligation appears to have given way to giving as a policy or liability. According to a review of case studies and CSR work done by Indian businesses, CSR in India is shifting away from charity and reliance and toward empowerment and partnership. The MCA's (Ministry of Corporate Affairs) CSR rules emphasize the role of an NGO as an implementation partner in corporate citizenship. Many organizations have made significant contributions to society with the help of the CSR funding that they have received. Given the change in the paradigm of thinking by companies, organizations working towards sustainable growth have been leading the change like SEEDS, acting on sustainable ecological growth in Asia. There are other organizations like Goonj working on improving the dignity of life in rural areas and Pratham working towards improving quality education through innovative teaching and learning methods. These types of organizations and many more have benefited heavily from the CSR funding they received and are promoting systemic change in society. DONATION CHANNELS AND EFFICIENCY Indian NGO system has been going through the problem of chronic underfunding and this acts as huge decelerator in the activities of these organizations thereby hampering the results that can be achieved from the programs that are carried out and severely affect the growth of the sector by causing systemic deprivation. Research has proven that the hugely inadequate funds cannot serve the true costs of the sector as a whole, mainly contributing to the subscale performance entirely. In majority of the cases, the funders just write programme centric cheques which cannot cover the indirect costs incurred by the organisation which are very critical for expansion and administrative purposes. A huge number of organizations have reported struggle for accruing indirect cost funding and named survival with less than 3 months of reserves, they are also majorly suffering from a no operating surplus from the past three years at least while majority are from the underprivileged groups like the Dalit, Bahujan, Adivasi communities etc. This is even more prevalent in the case of rural areas. A three-scale process of foundational capabilities i.e., strong roots with strategic planning and development of hierarchical leadership; financial resilience i.e., through accumulation of unrestricted reserves; and increasing impact i.e., a need to measure the reach, impact and effects of their programs. A few recommendations like the creation of multiyear NGO-Donor relationships, measures to close the indirect funding gap through clear communication and engagement, investment in organizational development, and building of financial reserves need to be taken up seriously. The contributions made to non-profits by international organizations has taken a serious hit following the implications of the FCRA amendments by over 30% and it is clear that a hole of that magnanimity cannot be filled anytime soon. The same trends can be observed in the case of donations by domestic corporations as well where the CSR is dropping by more than 5% given the pandemic-induced losses. The social sector spending in India has always been abysmal almost 5-6% of the GDP behind other BRICS countries. The ray of hope in this darkness is the case of family philanthropy which has not only stayed resilient through the pandemic but has also increased by almost 35% in size. The NGO sector needs to capitalize on this growth and induce a more people centric donation platforms. With the ever-growing wealth of family-owned businesses behind, who have an average net worth of 140 lakh crore, this is an opportunity waiting to be exploited. THE FCRA AND ITS IMPLICATIONS During the Emergency in 1976, the FCRA was enacted in response to concerns that foreign powers were interfering in Indian affairs by pouring money into the country via non - profit institutions. These concerns were, in fact, much older, having been raised in Parliament as early as 1969. The law sought to regulate foreign donations to individuals and organizations in order for them to operate "in a manner consistent with the values of a sovereign democratic republic." Under the UPA government, an amended FCRA was enacted in 2010 to "consolidate the law" on the use of foreign funds and "prohibit" their use for "any activities detrimental to national interest.". The current government changed the law again in 2020, giving the state tight control and oversight over the receipt and use of offshore funds by nongovernmental organizations. The Act was revised by receiving President's assent on September 29, 2020. These amendments place more personal accountability on NGOs in terms of forming partnerships, obtaining, and employing funds, especially from foreign entities. However, the government must monitor the situation of non-governmental organizations to prevent funds from being diverted to unlawful transactions. Sub- granting became illegal as a result of this. Subgranting occurs when a larger NGO transfers funds from international entities to smaller NGOs. Smaller non- governmental organizations (NGOs) cannot obtain funding from foreign donors. Life Education and Development Support (LEADS) in Jharkhand, for example, receives Rs. 8 lakhs per year from a Germany-based organization called "Bread for the World" to help strengthen the school system. LEADS manages this programme through four small non-governmental organizations (NGOs). Similarly, in Assam, an NGO called GVM receives funding from ActionAid and the National Foundation for India to work with Bhutanese Bodos. The administrative expenses cap had also been reduced from 50% to 20% of their foreign donations. The FCRA now, also makes it mandatory to obtain funds from the SBI branch in New India. The NGOs were required to submit an expense report every quarter. This amendment also prohibits Amnesty International and other civil society organizations from accepting foreign contributions to support other NGOs. The Ministry of Home has complete authority to revoke an NGO's FCRA certificate. Many civil societies, notably during the reign of Covid, challenged these amendments. The country's development sector may suffer as a result of the ban on sub-grants. The flow of foreign funds could be hampered. Furthermore, environmentalism, human rights, and civil liberties would be severely harmed. The ideals of these critical pillars of India's soft power would clash with the amendments. As a result, the International Commission of Jurists stated that this new was contrary to international obligations as well as its own constitutional rights. NGOS AS A FRONT Over the years and across governments, there have been many proven cases of NGOs being used as a formal figurehead to misappropriation of funds, especially for foreign origin and conduction of illegal activities. There are a plethora of organizations carrying out subversive activities and are started and managed by people with shady backgrounds, it scary to see how easy it is to open an NGO by individuals of questionable character to say the least. The front of the NGO also puts out a positive image which now becomes a double- edged sword. Many organizations have been accounted for numerous malfeasances like the Popular Front of India charged for the instigation of the Delhi Riots of 2020 and Anti-CAA protests and accused of money laundering through terrorist organizations. This can be observed in the UPA tenure as well where, London based NGOs were apparently found to be the roots of Bishop Yvon Ambrose run organizations who instigated the campaign to stall the Kudankulam Nuclear Power Project through foreign funding. There are many like these charged with FCRA violations because of causes of a wide range from diversion of funds to proselytism. However, this has effected very well reputed and strong organizations like Amnesty International who have taken a staunch stance against government authoritarianism and Commonwealth Human Rights Initiative with an Ex-Supreme Court Justice on their bench. In a country like India where despite its mammoth size, the state has not even come remotely close to reaching the far underdeveloped areas of the country, NGOs are a much-needed necessity. This was very clearly visible during the pandemic where these were the organizations who supported the travelling migrants on their devastating journeys home and scour for hospital beds and achieve plasma and oxygen when government hospitals were lacking them or no support for the last rites of the dead. A few bad steps don’t mean the leg needs to be cutoff, similarly this one-size-fits-all policy against the NGOs in the form of a witch hunt against NGOs and the FCRA amendments cannot and should not be the answer. CONCLUSION We have seen the various aspects of the delicate yet deep NGO system that has grown in our country for decades. Though not perfect, it is the only one that has survived the numerous and significant, glaringly hard problems that the society has thrown at it and continues to claim its effect in the various socio-economic, political, and civil changes that take place across every corner of the country. We have seen the strengths and weaknesses of the system that we now have and its more than obvious that it has pulled us off the cliff more times than we can count. It is now the time to support this network and rejuvenate it beyond its previous capacities and capabilities, give them a freer reign, increase investment and develop a tightknit, efficient and significant organizations which will ensure a safe and sustainable travel ahead in the developmental work of this country. BIBLIOGRAPHY Athulya. (2018). NGO Laws In India And Its Legal Compliance. Vakilsearch , https://vakilsearch.com/advice/indian-ngo-laws-and-legal-compliance/. Bindhu, D., & Panakaje, D. (2021). Role of NGOs in Implementation of CSR Activities in India. International Journal of Management, Technology and Social Sciences , 100108. Durgam, R. (2000). Non-Governmental Organisations (NGOs) in India: Opportunities and Challenges. Journal of Rural Development , 249-275. Fernandes, K., & Thacker, H. (2021). Top NGOs in India. The CSR Journal , https://thecsrjournal.in/top-ngos-in-india/. Hafeez, S. (2021). 10 NGOs revolutionsing healthcare in India. Give India , https://www.giveindia.org/blog/10-ngos-which-have-revolutionised-healthcare-inindia/. Hafeez, S. (2021). 10 NGOs tackling mental health issues. Give India , https://www.giveindia.org/blog/10-ngos-tackling-mental-health-issues-in-india/. Mehta, S. (2021). Why India needs stricter laws to regulate NGOs. Yahoo! Finance , https://ca.finance.yahoo.com/news/why-india-needs-stricter-laws-to-regulate-ng- os120326022.html. Seo. (2022). NGO Rules and Regulations in India. MUDS , https://muds.co.in/ngo-rules- andregulations- inindia/#:~:text=They%20must%20register%20with%20the,Such%20registration%20is %20not%20compulsory. Seth, A., Ayilavarapu, D., Pandit, R., & Sinha, M. M. (2021). India Philanthropy Report 2021. Bain & Compant | Dasra , https://www.dasra.org/assets/uploads/resources/Bain_Dasra_India_Philanthropy_Rep ort.pdf. Singh, G. (2021). Why is the government going afer NGOs? The New Indian Express , https://www.newindianexpress.com/opinions/columns/2021/sep/19/why-is- thegovernment-going-after-ngos-2360658.html. Srividya, D. N. (2021). ROLE OF NGO’S – AN OVERVIEW IN INDIAN PERSPECTIVE. Journal of Good Conscience , 1-9. Swamy, V. K. (2021). 10 NGOs rejuventaing education in India. Give India , https://www.giveindia.org/blog/top-10-education-ngos-rejuvenating-education-inindia/. Swamy, V. K. (2022). 10 indian NGOs working for environmental protection. Give India , https://www.giveindia.org/blog/top-10-indian-ngos-working-for- environmentalprotection/. Swamy, V. K. (2022). 10 NGOs working against Human Trafficking in India. Give India , https://www.giveindia.org/blog/10-ngos-working-against-human-trafficking-in-india/. Vanitha, K. (2022). An Overview of Roles and Functions of NGO in India. CorpBiz , https://corpbiz.io/learning/roles-and-functions-of-ngo- inindia/#What_are_the_Roles_of_NGO_in_Indian_Context. Venkatachalam, P., Yeh, D., Rastogi, S., Siddiqui, A., Manchanda, U., Gupta, K., & Thompson, R. (2021). Building Strong, Resilient NGOs in India: Time for new funding practices. The Bridgespan Group , https://www.bridgespan.org/bridgespan/Images/articles/building-strong-resilientngos- in-india/Building-Strong-Resilient-NGOs-in-India-Bridgespan-2021.pdf. Previous Next

  • International Banking by Tarun Natarajan | Podar Eduspace

    < Back International Banking by Tarun Natarajan International banking is a complicated system that comprises of multiple structural subgroups, each of which performs a specific role. This study will be on the unique characteristics of international banks and the wide range of duties they perform. INTRODUCTION In general, the world banking system is separated into two categories: domestic and international banks. International banking is a complicated system that comprises of multiple structural subgroups, each of which performs a specific role. The focus of this study will be on the unique characteristics of international banks and the wide range of duties they perform. To begin, the foreign banking system will now be contrasted to the domestic banking system in order to identify the major contrasts. In addition, the organisation of global financial markets, as well as the spectrum of instruments traded there, will be explored. Furthermore, the many types of exchange rate exposure that multinational firms confront will be examined in order to recognize and quantify the risks involved. CONTRASTS BETWEEN INTERNATIONAL AND DOMESTIC BANKS The main contrasts between international and domestic banks must be identified. They set themselves out from the competition in terms of customer service. To begin with, "international banks organise trade finance for their customers to permit imports and exports," but "local banks provide just for cross-border business." Second, international banks provide for foreign exchange, which is necessary for cross-border transactions and investments, but domestic banks do not offer this service. Another distinction is the types of deposits that banks accept, as well as the loans and assets that they make. While domestic banks conduct business in the local currency, the bulk of international banking institutions borrow money and lend money in the Eurocurrency market, which comprises of deposits held in banks located outside of the countries that issue the currency in which the deposits is held. Internal banks are also governed by laws of the state in that they are located, but global banks are governed by the laws of both their home country and the countries where their branches are located. UNITED STATES' USE OF INTERNATIONAL BANKS The grounds on which the USA uses international banks can easily be defined based on the aforementioned disparities. For starters, foreign banks facilitate global transactions and investments, which is critical for the majority of businesspeople. Second, people traveling to foreign countries frequently use the branches of multinational banks. Another important issue would be that the international banking program enables the United States government to invest in the world market and grow as a country. Furthermore, international banks meet the needs of multinational organisations by lending big sums of money while posing fewer risks. INTERNATIONAL FINANCIAL SYSTEM STRUCTURE As previously stated, the international financial system's structure is extremely complicated, as evidenced by the many different types of international markets. They include the previously mentioned Eurocurrency market (mainly Eurodollars), this same international bond market (which includes foreign securities, Eurobonds, global bonds, equity-related, and dual currency international bonds), and the international stock markets. The Eurocurrency market operates on an interbank level, and so it runs concurrently with the financial institutions of the countries that formed the currency. The foreign bond market offers bonds to foreign investors, with the primary distinction being the currency with which they have been denominated. The instruments are typically portrayed as debt or equity, with the other reflecting a share of the responsibility or ownership. International banks as well as international financing syndicates offer enormous sums of money to multinational firms, as previously stated. These funds are used for their own economic and social development, project funding, and investment. However, the foreign exchange process is frequently vulnerable to a number of negative impacts that might result in a variety of negative outcomes, including default. To put it another way, international exchange exposure occurs when the value of a company's future cash flows is determined by the value of foreign currencies. Multinational firms' performance is heavily reliant on transactions and investments conducted outside of the native financial system due to their nature. Multinational firms are exposed to several hazards due to the fluctuation of exchange rates. There are several ways for evaluating those odds, the most famous of which is the Moody's creditworthiness rating model. This concept allows multinational firms and international lending syndicates to foresee possible negative outcomes and avoid losses. CONCLUSION This paper provides a basic overview of the international financial system. First, the contrasts between domestic and international banks were examined, and the United States' the use of international banks was outlined based on the findings. The architecture of the world economy was also taken into account in order to represent the complex nature of its parts in a concise manner. It is also clear that the international financial network is influenced by a wide range of factors. Those elements, which indicate difficulties relating to foreign exchange exposure, were also described. Finally, it is critical to note that international banking is amongst the most often used economic vehicles. Previous Next

  • Indian Asset Management by Rishabh Keshiv Sehgal | Podar Eduspace

    < Back Indian Asset Management by Rishabh Keshiv Sehgal This report will cover various types of asset classes present in India, and deep dive into India's Asset Management industry with a comparison against global markets. ASSET CLASSES Investment belongs to one or other asset classes there are various types of asset classes present in India. There seem to be a variety of characteristics that can be used to categorize asset classes. You can categories them based on their intended use, including whether they are consumption assets like oil and natural gas or investment assets like securities. You can also group them by geography or industry, such as domestic assets, overseas or global assets, or emerging and advanced markets. Few asset classes are: Fixed income Equity Real estate Commodities Cash and cash equivalents Derivatives Alternative investments Fixed Income Fixed income asset class is the common asset class in our country as people have a lot of trust in this asset class. It is amongst the most ancient and respected asset classes. This asset class for instance includes Fixed deposits (FD) and Public provident funds (PPF). In this way the investor is allowing the bank to borrow money from the investor in exchange of capital protection and the bank agreed returns on the investment to the investor during a certain period of time. This is the most popular and common asset class as it includes zero percent risk though has less return. The investor gets steady returns on their investment in the due course of time. It also includes corporate and government bonds. Unlike equity market there are no cash flows involved in this asset class the amount of maturity is pre decided therefore having variation is profit or loss. Equity This asset class in India has recently gained its importance and popularity but still growing. This asset class is the mostly buying equities which means buying into a running business based on the number shares bought. This asset class is not as secure as the fixed income asset class rather lies on riskier side of the asset classes. When an investor buys a share of company the investor becomes the owner the respective percentage of the shares bought. Equity can be further categorized as small cap, mid cap, and large cap funds there are also multi cap funds and dividend yielding funds. Real Estate Real estate market is also a very old and popular asset class in India. Investor in India love to invest their savings in the real estate market. This asset class mainly focuses on plots, apartments, villas, commercial projects etc. However, the real estate market is not as risk free as the fixed income market it is somewhat unpredictable as it depends upon various factors around the country though it is the perfect way to park your savings with a long-term perspective. Commodities In this type of asset market, it ranges from goods that can be traded for instance Gold, silver, bronze, food crops, petroleum etc. This asset class is not meant for long term investment. The prices here vary with the law of supply and demand. Cash and cash equivalents This kind of asset class is also known as money market instruments. It is basically the idle money that is lying in the investors savings account. In this asset class the investor has transactional freedom as cash is lying idle in the savings account. This is mainly for investors who are scared to invest in the other asset classes. However, in the current scenario it cannot beat the inflation rate. Derivatives This type of financial asset has no value of its own. In this finance asset the price of the asset depends upon the underlying asset and there is high fluctuation. The underlying assets are usually equity shares, bonds etc. Alternative Investments This type of financial asset is not considered to be a part of the typical asset classes of stocks, bonds, debts etc. This type has a complex structure and various restricted rules. This kind of an asset is usually held by high net individuals as this asset class yields high profits. Hedge funds cryptocurrencies are a few examples of this asset class. MARKET SIZE The Indian consumer durables market is divided into urban and rural segments, and it is drawing international marketers. A big middle class, a relatively large affluent class, and a tiny poor class make up the sector. India is seen by multinational organizations as one of the primary markets from which future development would likely arise. A favorable population composition and rising disposable income would be the primary drivers of India's consumer market expansion. There are a few markets such as : Labor market Money market Commodity market Capital market Labor market: In India the labor market known for it being very cheap, the country also has English speaking highly qualified workers. These highly qualified workers in the country makes it the most attractive location for multi nationals to set up their offices .There are three segments in the labor market primary, secondary, territory. Money market: India as country deals more with borrowing and lending of its funds. The money market of this country depends upon several factors Commodity market: This market consists of exchange of goods comprising from wheat to silver and gold etc. Capital market: In this market, it deals with the assets of the country. In this market all companies whether private or government can raise funds it is upon them the funds can be short term or long term. This market consists of the bond market and the capital market. INDIAN MARKET GROWTH India s current GDP at current is expected to be around 232.15 trillion. Currently, while worldwide financial uncertainty clouds the picture, the World Bank predicts that India's GDP will rise by 7.4% in 2016–17, making it the world's fastest-growing big economy. In terms of growth potential, India also outperforms other rising markets. The country has a bright long-term future, thanks to a consuming class that is predicted to more than triple in size by 2025, to 89 million families. Liberalization has opened up new possibilities. The issue for policymakers is to manage growth in such a way that it establishes a foundation for long-term economic performance. Despite significant progress, India's transition into a worldwide economic powerhouse has yet to properly benefit all of its residents. There is a huge unmet need for essential amenities like water and sanitation, energy, and health care, for example, and red tape makes doing business difficult. Many of these issues have been addressed by the government, and the rate of change could go up in the future years if some efforts gain traction. Despite the fact that India's manufacturing sector lags behind China's, there will be significant chances to invest in value-adding enterprises and generate jobs. India's allure to potential investors will go beyond its low-cost labour: local manufacturers are creating competitive firms in order to tap into the enormous and rising domestic market. Further reforms and improvements in public infrastructure could make it simpler for all types of manufacturing enterprises, both foreign and Indian, to scale up and become more efficient. India will gain from twelve powerful technologies that will assist to increase production, improve efficiency across major areas of the economy, and drastically alter the delivery of services such as education and healthcare. According to our analysis, these technologies could add $550 billion to $1 trillion in economic value per year by 2025, potentially creating millions of well-paying, productive jobs (including positions for people with a moderate level of formal education) and allowing millions of Indians to live comfortably. Efforts by the public sector to address the five areas are now underway. India's ranking on the World Economic Forum's Global Competitiveness Report improved to 55 in 2015–16, up from 71 the year before. Officials are working to make the government more efficient by implementing technologies that can bypass typical infrastructural constraints. Aadhaar, the world's largest digital-identity programmed and a powerful platform for providing benefits directly to the needy, has now been registered by one billion Indian people. INDIAN REGULATORY CONSIDERATIONS According to the SEBI Act of 1992, SEBI is the primary regulator for all funds, asset management, and advising operations in India (SEBI Act). However, it is important to note that foreign investment and exchange control are regulated by the central government and the Reserve Bank of India (RBI), India's central bank established under the RBI Act, 1934. While the SEBI, RBI, and central government realms are generally defined, if there is a cross-border element, a regulated entity's activities may be reviewed by numerous regulators. An AIF, according to the AIF Regulations, is a privately pooled investment vehicle established in India that raises funds from investors and invests according to a defined investment philosophy for the benefit of its investors. The AIF Legislation do not apply to funds governed by the CIS Regulations, the MF Regulations, or any other Indian regulator-issued regulations. AIFs do not apply to the following items, among others: Employee welfare/gratuity trusts, holding businesses, and family trusts While domestic or foreign investors can invest in an AIF, each must commit a minimum of 10 million rupees, and an AIF must raise a minimum of 200 million rupees (with angel funds authorized to have a minimum corpus of 50 million rupees) in commitments from its investors before it can begin operations. AIFs have been divided into three categories with the goal of separating investment criteria while also providing a framework for regulatory concessions, if any, that are or may be granted by the authorities: Venture capital funds (including angel funds), 'SME' funds, social venture funds, and infrastructure funds are among the sub-categories of Category I AIF. Category II AIF: This category contains funds that do not fall into either Category I or Category III and do not use leverage or borrowing for anything other than their day-to-day operations. This category usually includes private equity and debt funds. Funds that use a variety of or complex trading methods and may use leverage, as well as listed focused funds, fall into this group. In India, mutual funds must be incorporated as trusts. The MF Regulations outline the qualifying requirements as well as the rights and responsibilities of the sponsor, trustee, manager, and custodian, as well as the wording of the trust deed and management agreement. The MF Regulations also govern economics, such as dividend payment, redemptions, and valuation, and mandate fees, expenditures, and commissions payable to intermediaries, as well as mandate norms and caps. Mutual funds primarily cater to retail investors by obtaining money from the public through the sale of units in their schemes (with a few exceptions for private placement for specific types of schemes). Because mutual funds are retail goods, they are heavily regulated, and the offer document must be detailed and include substantial disclosures. The MF Regulations impose constraints on the manager's operation and governance, requiring at least 50% of its directors to be independent of the sponsor or trustee. In addition to the general standards, specialized mutual fund strategies such as real estate and infrastructure debt have specific needs that must be met. REITs and INVITs (iii) REITs and INVITs both went into effect on the same day, with the same goals, and the rules have remained largely the same. The units of the REIT or INVIT must be offered to the public via an offer document, which is scrutinized by SEBI. This paper usually contains a lot of information. REITs and INVITs are not allowed to invest in other REITs or INVITs. Any scheme or arrangement in which investor contributions are pooled with the goal of making returns and the assets are managed on behalf of the investors is referred to as a CIS. In the 1990s, the CIS Regulations were enacted to prevent the rise of several unregulated private schemes. It is worth noting that the CIS regime has not been popular due to the associated constraints; there has only been one registration since 1999. The IA Regulations aim to regulate organizations that provide clients with investment advice and safeguard investors from mis-selling. In addition to the exemption for those only advising foreign customers, the IA Regulations exempt other regulated entities or those who provide advice incidental to their main activity from the necessity to get registration. The IA Regulations provide capital adequacy guidelines and other eligibility criteria to protect retail investors, including qualification and certification requirements that require designated personnel to complete NISM (National Institute of Securities Market) examinations. The Foreign Exchange Management Act of 1999, its subordinate regulations (the FEMA Regulations), and government and RBI circulars govern all foreign investment in India. Various aspects of foreign investment, such as entry methods, sectoral limits, and price rules, are governed by these regulations. The Foreign Exchange Management (Non-Debt Instruments) Rules, 2019 (the NDI Rules) were notified by the government on October 17, 2019, and they replaced the Foreign Exchange Management (Transfer of Issue of Security by a Person Resident Outside India) Regulations, 2017. Foreign investment in Indian AIFs is similarly governed by the NDI Rules. Offshore funds seeking to invest primarily in the unlisted space may choose to register as an FVCI under the FVCI Regulations because FVCIs receive certain benefits not available to FDI investors, such as free entry and exit pricing, exemptions from certain lock-in and public offer requirements, and a wide range of permissible instruments, including debt. However, this is limited to ten sectors, and investments outside of these must be made through FDI or one of the other avenues mentioned above. FVCIs, on the other hand, must meet specific investment criteria, including allocating at least 66.67 percent of their assets to unlisted equities or equity-linked securities. FVCIs are allowed to invest in both start-ups and established businesses. INDIAN ASSET DISTRIBUTION SYSTEM Indian asset distribution is varied into a lot of parts such as real estate , equities ,mutual funds etc. In the Indian market most of the people prefer to invest in the real estate market considering it to be a safe and a long term investment. The investors are moving towards the equities but at a very slow pace. INDIAN ASSET MANAGEMENT CURRENT TRENDS During the forecast period, the India Asset Management Market is anticipated to expand at a CAGR of roughly 14%. Out of the total assets in the business, the top 10 asset management companies (AMCs) in India own (AUM) worth INR24.46 trillion, or almost 80%. From INR23.59 trillion in November 2018 to INR26.94 trillion in November 2019, the assets handled by the Indian mutual fund industry have increased (based upon the average assets per month). The assets have increased by 14.21% since November 2018. The industry's yield (Total Expense Ratio) on AUM is expected to decline over time because of rising AUM and regulatory efforts to reduce costs for customers. The argument for sustained rise in profitability is made, however, by AUM growth with a favorable mix and continuing attention to enhancing operational effectiveness. The asset management sector in India has seen tremendous change in recent years. Individual investors have increased significantly and now account for roughly 58 percent of the AUM. With approximately 45 percent of the AUM now compared to 23 percent five years ago, equity has become a more prominent asset class. Increased penetration across the B15 cities, which now account for a significant portion of this shift. The India Asset Management Market is anticipated to expand at a CAGR of roughly 14% over the anticipated time frame. Out of the total assets in the sector, the top 10 asset management firms (AMCs) in India own (AUM) worth INR24.46 trillion, or over 80% of the market. From INR23.59 trillion in November 2018 to INR26.94 trillion in November 2019, the assets handled by the Indian mutual fund industry have increased (based upon the average assets per month). The assets have increased by 14.21% since November 2018. The industry's yield (Total Expense Ratio) on AUM is expected to decline over time as a result of rising AUM and regulatory efforts to reduce costs for customers. The argument for sustained rise in profitability is made, however, by AUM growth with a favourable mix and continuing attention to enhancing operational effectiveness. The asset management sector in India has seen tremendous change in recent years. Individual investors have increased significantly and now account for roughly 58 percent of the AUM. With approximately 45 percent of the AUM now compared to 23 percent five years ago, equity has become a more prominent asset class. This move has been significantly influenced by growing B15 city penetration, which now makes up about 25% of the AUM. The year 2021 was challenging for fixed-income investors as excessive central bank liquidity pushed real rates even farther into negative territory. As global central banks normalise their monetary policies and rates and credit spreads tighten, we anticipate a recovery in the fixed-income market in 2022. In order to get ready for a change in the credit market cycle, forward-thinking investors are using Acuity Knowledge Partners' (Acuity) global fixed-income research capabilities. In 2021, developed-market equities have done better than emerging-market equities. The underperformance in developing markets was principally brought on by the underwhelming performance of Chinese equities as a result of the government's crackdown on internet businesses and the country's struggling real estate market. As Chinese equities provide a tempting opportunity in terms of valuation, we anticipate this tendency to change in the future. The limited research coverage and quality, high cost of a trained talent pool, and language barriers to coverage of these markets from international financial centres make investing in Chinese shares difficult for foreign investors. Acuity's on-the-ground research capabilities (more than 150 analysts in China) are used by international asset managers and investment banks to foster innovation and efficiency in their investment research operations and maintain a sustainable business model. ASSET MARKET IN OTHER COUNTRIES Remittances under the Reserve Bank of India's Liberated Remittance Scheme (LRS), which was launched in 2004, have risen steadily in India because of rising income and wealth. The amount being transferred has suddenly increased at an astonishing growth rate of about 80% year over year. As opposed to capital account transactions, such as remittance for investments, which are the categories that predominate the composition of funds remitted, travel, education, and maintenance of close family. With the unrestricted flow of information about international markets in the modern era, investors have seen the potential for growth in other areas. Diversifying one's holdings geographically is now seen as a crucial component of creating a strong portfolio. While investing in international markets may be a novel financial strategy for most, one shouldn't stray from the fundamentals. A portfolio needs to be planned out while keeping in mind the standard factors like the industry. When it comes to international investing, the majority of Indian investors tend to favour equities. Over the past two decades, we have witnessed the domestic mutual fund market change as it developed into the favoured method for equities investors, particularly for retail and wealthy investors. We think passively managed exchange traded funds (ETFs) are a more effective strategy to invest in stocks when it comes to global investments. This route is very well-liked, especially when it comes to. When it comes to international investing, the majority of Indian investors tend to favour equities. Over the past two decades, we have witnessed the domestic mutual fund market change as it developed into the favoured method for equities investors, particularly for retail and wealthy investors. We think passively managed exchange traded funds (ETFs) are a more effective strategy to invest in stocks when it comes to global investments. This route is very well-liked, especially when it comes to. COMPARISON WITH GLOBAL MARKETS As the Sensex hit 59,000 for the first time on Thursday, India surpassed France to take over as the sixth largest stock market in the world. The equity market capitalization of the nation increased to $3.44 trillion, surpassing France's $3.39 trillion, which represents the total market value of all listed firms. India's market capitalization first surpassed $3 trillion in May. Indian shares have soared as retail money has poured in, especially given the lack of other high-yielding investment opportunities, while many markets have been hammered by the Delta variant's spread and worries about the US Fed slowing down asset purchases. In terms of performance among the top 15 largest markets in 2021, India is the best. Since January 1, FPIs have invested approximately Rs 59,000 cr in Indian shares, while DIIs have invested Rs 22,600. The fascinating thing about US stocks is that since so many businesses have operations across the world but are listed there, you have exposure to both the US and the rest of the world. The many benefits offered by investment prospects in the US market are highlighted by Viram Shah, co-founder and CEO of Vested Finance, in this statement. Equities plummeted together globally as a result of the current coronavirus pandemic, with declines of between 20 and 30 percent. Investment diversification would have been advantageous and effective at this time. The S&P 500 had already made up all of its losses brought on by the coronavirus by June 8th, 2020. Meanwhile, the Sensex was still down 17%. The currency you use for trading and investing can have a big impact on your portfolio, both positively and negatively. When it comes to investing in US markets, they are crucial. Consider the Indian Rupee, which has consistently lost value in comparison to the US Dollar. This is a significant disadvantage because all investments made in Indian markets are made in INR, which causes their value to decrease over time. The dollar has gained 6 percent against the rupee only this year. The American Dollar is one of the main benefits of investing in US markets. Your investments grow in value along with it, even if your portfolio as a whole does not. The US markets continue to be home to all major firms that are leading their fields with new services while the Indian startup environment has been thriving. Since Indian law requires three years of continuous profits before a firm can go public, investors in India are unable to participate in growth stories at home. Most Indian investors are effectively barred from taking advantage of the chance to demonstrate their belief in novel business models because the story of many companies is one of postponed earnings for growth and market share. The US, however, has relatively flexible restrictions, making it possible for investors from throughout the world to follow the development of numerous creative models. Uber, Amazon, Tesla, and Facebook are just a few It is true that participating in two markets would necessitate consideration of two economic systems as well as numerous other external factors that affect these markets. This task may seem overwhelming and time-consuming to the ordinary investor. Some people might perceive declining returns in this endeavour and be willing to forsake the chance of greater riches in favour of putting forth less effort. By using ETFs to invest in US markets, which reduce risk through diversification, this issue may be allayed. However, for the typical investor, Indian markets still hold a little advantage in this area. Yes, the US and Indian markets each have advantages. But it's simple to understand how US markets show more promise in a contemporary investing environment with access to the global market. This is partly a result of their personality and love for other countries, as well as the fact that some of the most promising businesses in the world are based there. There is no doubt that the Indian market should continue to make up a sizeable portion of an investor's portfolio, but the US also makes a compelling case for inclusion in the portfolio of Indian investors. There has been a huge interest in investing in US equities due to the increase in retail investors wishing to participate in the stock market. The numerous stock markets around the world are examined in this article. Additionally, we look at a few crucial aspects to take into account before making an investment on the global stock market. But sadly for investors, they had to deal with a number of restrictions that are built into the stock market. The Indian stock markets have developed to become not only one of the largest but also one of the most sophisticated markets in the world as a result of numerous scams. The National Stock Exchange (NSE) and the Bombay Stock Exchange are the two principal stock exchanges in India (BSE). But these stock exchanges have started operating internationally. The Indian stock market is regarded as an emerging market and is popular among investors due to its potential to present promising growth possibilities. For a variety of factors, including maturity, low volatility, and returns, other stock markets around the world can be favoured. Most inexperienced investors diversify their stock portfolios among asset classes, market capitalizations, and industries. However, fortunately, in 2021, investors can diversify between nations, providing them access to various stock markets. The main motivation for diversifying one's investments across markets and nations has been to safeguard one's portfolio from hazards unique to one's own country as well as other regional calamities. Markets in India might be negatively impacted by changes to the political and economic landscape. Investors are shielded from these dangers by spreading their money across other markets. The currency and its corresponding exchange rates are another aspect to consider while investing in global markets. It is no secret that the value of the Indian rupee relative to the US dollar has been steadily declining for many years. To benefit from the profits earned as the Indian rupee declines, it would make sense to invest in American money. But by stepping it up a notch and purchasing US stocks, investors can gain even more from this approach. As a result, you can benefit from dividends, the growth of your assets through American enterprises, and the strengthening of the US dollar. Today, we have access to a wide range of goods and services because to globalisation. When it comes to equities, this is also obvious. One can go ahead and purchase stock in the company from India instead of just drinking Coke and Pepsi. Investors have access to global juggernauts on the US market, which makes certain Indian market leaders resemble midcap equities. However, this is not just applicable to blue-chip stocks. Before being permitted to list on the stock market in India, entrepreneurs must first demonstrate proof of three years of profitability due to the regulatory climate there. Comparatively speaking to their international counterparts, Indian marketplaces are recognised to have stricter laws and restrictions. In the US, these rules are more permissive, enabling investors to follow the development of an inventive firm. A lot of research must be done before making the decision to invest or not. Indian investors have access to a wealth of research and are familiar with the market's operations and trends. Investing in international markets increases the amount of study necessary, and investors must adjust to other markets. Investors now need to study several economies. On the other hand, traders must also adjust to the timings. As a result, investing in the global stock market requires much more research and work. Every stock market in the world has its own advantages and disadvantages, as well as investors, when it comes to investing. Before making an investment in a foreign market, investors must take these factors into account. You can invest in US equities using a variety of apps, like Groww, Vested, etc. Before entering the global stock market, we hope this essay has given you a better understanding. Previous Next

  • Finance, Banking and the Economy at large by Divyes Chakravarty | Podar Eduspace

    < Back Finance, Banking and the Economy at large by Divyes Chakravarty Gain an understanding of how money, banking and the financial system intersect and work. The different concepts, principles and intricacies of money and more. Macroeconomics: Macroeconomics is the branch of economics that studies the behaviour and performance of the economy as a whole. It focuses on aggregate changes in the economy such as unemployment, growth rate, gross domestic product and inflation. Macroeconomists employ aggregate measures such as gross domestic product (GDP), unemployment rates, and the consumer price index (CPI) to analyse large-scale consequences of individual decisions. The two main areas of macroeconomic research are long-term economic growth and shorter-term business cycles. Microeconomics: Microeconomics is the study of individuals, households and firms' behaviour in decision-making and allocation of resources. It generally applies to goods and services markets and deals with individual and economic issues. Microeconomics studies how prices are determined in the marketplace. Manufacturers and customers initiate forces that we term them as supply and demand accordingly and it is their interaction within the marketplace that devises the price mechanism. It is also known as Price Theory as it deals with the determination of the price of commodities and factors. Financial Systems: A financial system is a collection of institutions which allow the exchange of funds, such as banks, insurance companies, and stock exchanges. The financial system exists at the corporate, national, and global levels. Borrowers, lenders, and creditors are exchanging current funds to finance ventures, either for consumption or productive investment and seeking returns on their financial assets. Furthermore, the financial system includes sets of laws and policies used by creditors and lenders to determine which projects are funded, who fund the projects, and the scope of the financial deal. Risk Management: Risk management is the process of identifying, assessing and controlling financial, legal, strategic and security risks to an organization’s capital and earnings. These threats, or risks, could stem from a wide variety of sources, including financial uncertainty, legal liabilities, strategic management errors, accidents and natural disasters. A successful risk assessment program must meet legal, contractual, social and ethical goals and monitor new technology-related regulations. By focusing attention on risk and committing the necessary resources to control and mitigate risk, a business will protect itself from uncertainty, reduce costs and increase the likelihood of business continuity and success. Three important steps of the risk management process are risk identification, risk analysis and assessment, and risk mitigation and monitoring. Risk Identification: Risk identification is identifying and assessing threats to an organization, its operations and its workforce. For example, risk identification may include the implementation of a robust cybersecurity system to prevent malware attacks. Risk Analysis: Risk analysis involves establishing the probability that a risk event might occur and the potential outcome of each event. Risk evaluation compares the magnitude of each risk and ranks them according to prominence and consequence. Risk mitigation: Risk Mitigation refers to the process of planning and developing methods and options to reduce threats to project objectives. A project team might implement risk mitigation strategies to identify, monitor and evaluate risks and consequences inherent to completing a specific project, such as new product creation. International Banking: International banking refers to the practice of providing financial services across international boundaries. Banks provide services such as accepting deposits, issuing loans, facilitating payments, and offering investment products to customers around the world. International banking allows businesses to access capital from global markets and make investments overseas. It also enables customers to make transfers between foreign countries without having to use local currency exchange services. International banking services are beneficial for businesses as they provide access to a wider range of financial services than domestic banks can offer. This includes foreign currency exchange, international remittances and transfers, trade finance, and access to global markets. Additionally, by utilizing the expertise of international banks, businesses can take advantage of local knowledge to invest in the best markets around the globe. Investment and Corporate Finance: Investment and corporate finance are essential components of the financial landscape. Investment involves allocating capital with the expectation of generating returns over time. It encompasses various activities, including analysing markets, evaluating investment opportunities, managing portfolios, and assessing risk. Corporate finance, on the other hand, focuses on the financial decisions and strategies within a company. It involves managing capital structure, raising funds, making investment decisions, and maximizing shareholder value. Both investment and corporate finance play crucial roles in driving economic growth, facilitating business expansion, and optimizing financial resources. They require expertise in financial analysis, valuation, risk assessment, and strategic planning to make informed decisions that align with business objectives and deliver sustainable financial performance. History of Money: Before money, we used the barter system i.e. trading by goods and services. Metals objects were introduced as money around 5000 B.C. By 700 BC, the Lydians became the first in the Western world to make coins. Metal was used because it was readily available, easy to work with, and could be recycled. Soon, countries began minting their series of coins with specific values. Since coins were given a designated value, it became easier to compare the cost of items people wanted. Some of the earliest known paper money dates back to China, where the issuing of paper money became common from about 960 AD. With the introduction of paper currency and non-precious coinage, commodity money evolved into representative money. This meant that what the money itself was made of no longer had to be of great value. Representative money was backed by a government or bank's promise to exchange it for a certain amount of silver or gold. For example, the old British Pound bill or Pound Sterling was once guaranteed to be redeemable for a pound of sterling silver. For most of the 19th and the early part of the 20th century, the majority of currencies were based on representative money that relied on the gold standard. Representative money has now been replaced by fiat money. Money is now given its value by government fiat or decree, ushering in the era of enforceable legal tender, which means that by law, the refusal of "legal tender" money in favour of some other form of payment is illegal. Nowadays, even virtual currency is used. As digital representations of money, this type of currency is stored and traded using computer applications or specially designated software. The appeal of virtual currency is that it offers the promise of lower transaction fees than traditional online payment mechanisms do and is operated by decentralized authorities. Corporate Governance: Corporate Governance refers to how companies are governed and for what purpose. It identifies who has power and accountability, and who makes decisions. It is, in essence, a toolkit that enables management and the board to deal more effectively with the challenges of running a company. Corporate governance ensures that businesses have appropriate decision-making processes and controls in place so that the interests of all stakeholders (shareholders, employees, suppliers, customers and the community) are balanced. Governance at a corporate level includes the processes through which a company’s objectives are set and pursued in the context of the social, regulatory and market environment. It is concerned with practices and procedures for trying to make sure that a company is run in such a way that it achieves its objectives while ensuring that stakeholders can have confidence that their trust in that company is well founded. As the home of good governance, the Institute believes that good governance is important as it provides the infrastructure to improve the quality of the decisions made by those who manage businesses. Good quality, ethical decision-making builds sustainable businesses and enables them to create long-term value more effectively. Entrepreneurial Finance: While corporate finance focuses on existing businesses and the challenges they face to deliver returns to their investors and increase shareholder value, entrepreneurial finance is the study of value and resource allocation. It is centred around new businesses and the owner’s challenge to acquire the funding needed to test whether the business can become financially sustainable. All entrepreneurial ventures which are reliant on funding to get started must ask how much money can and should be raised, at what point in the journey, and which sources of funding are viable. Raising money can be a drain on time and existing financial resources, so entrepreneurs must do their research into the routes most likely to result in positive outcomes for their business model and industry. Sources of entrepreneurial financing are: Venture Capital: This type of entrepreneurship financing is often reserved for start-ups and small businesses which have the high-growth potential for long-term success. Venture capitalists don’t always provide investment in the form of financial funding, as this can also be provided to a business in the form of technical or managerial expertise. Angel Investors: Angel investors are typically a group of entrepreneurs or former executives who have amassed personal wealth through a variety of sources. These high-net-worth individuals provide venture capital and often co-invest alongside a trusted associate into the same or similar industries in which their experience lies. Crowdfunding: Crowdfunding is when a business or new venture is presented online with a summary of the business plan, to raise money from individuals. Initial Public Offering: An IPO is the first time a company sells its shares to the public in a bid to raise money. This form of financing is used by businesses of all sizes and at all stages and requires a lot of preparation, bureaucratic hurdles, and paperwork. This means that it is a risky option for start-ups as it can take a long time and incurs costs throughout the process. Appendix: Macroeconomics: Investopedia's "Macroeconomics" section ( www.investopedia.com/terms/m/macroeconomics.asp ) Microeconomics: Khan Academy's "Microeconomics" course ( www.khanacademy.org/economics-finance-domain/microeconomics ) Risk Management: "Principles of Risk Management and Insurance" by George E. Rejda and Michael McNamara International Banking: The Bank for International Settlements' website ( www.bis.org/topics/banking.htm ) Investment and Corporate Finance: CFA Institute's "Corporate Finance" section ( www.cfainstitute.org/en/programs/cfa/curriculum/investment-foundations/corporate-finance ) History of Money: "The Ascent of Money: A Financial History of the World" by Niall Ferguson, The British Museum's "History of Money" section ( www.britishmuseum.org/learn/schools/ages-7-11/history/money ) Corporate Governance: The International Corporate Governance Network's website ( www.icgn.org ) Entrepreneurial Finance: "Entrepreneurial Finance: Strategy, Valuation, and Deal Structure" by Janet Kiholm Smith, Richard L. Smith, and Richard T. Bliss Bibliography: https://cleartax.in/g/terms/financial-system#:~:text=A%20financial%20system%20is%20a,%2C%20national%2C%20and%20global%20level . https://www.ibm.com/topics/risk-management https://study.com/learn/lesson/international-banking-services-overview-function-examples.html#:~:text=International%20Banking%20Structures-,What%20is%20International%20Banking%3F,to%20customers%20around%20the%20world . https://www.investopedia.com/terms/c/corporatefinance.asp https://www.investopedia.com/articles/07/roots_of_money.asp#:~:text=People%20bartered%20before%20the%20world,of%20payment%2C%20including%20virtual%20currencies . https://www.cgi.org.uk/about-us/policy/what-is-corporate-governance#:~:text=Corporate%20governance%20is%20the%20system,accountability%2C%20and%20who%20makes%20decisions . https://online.wlv.ac.uk/a-guide-to-entrepreneurial-finance/#:~:text=What%20is%20entrepreneurial%20finance%3F,of%20value%20and%20resource%20allocation . Previous Next

  • Knowledge Ecosystem | Podar Eduspace

    Our Programs Take the next step towards your success by upskilling yourself with our selection of Podar Eduspace ​ courses and offerings EduSPACE: The Blog Develop a working understanding of topics such as AI, tech, business, education and more. Written by experts to simplify complex ideas. Learn More Podar Conversations A flagship monthly series of mentoring talks by Podar Eduspace, bringing together industry CEOs and veterans with decades of leadership experience. Learn more

  • Our People | Podar Eduspace

    Meet The Team Rajiv Podar Member of Management Board, Podar Eduspace Mr. Rajiv Podar is the Managing Director of Podar Enterprise. He is the Founder and Chairman of the International Business Linkage Forum (IBLF), a forum patronized by Governments and used as a platform to promote trade, joint ventures and investments between the Government & private entities. Most recently, he was appointed the President for the Indian Merchant Chamber (Mumbai). Pallawi Podar Member of Management Board, Podar Eduspace Pallawi Podar is the Executive Committee Board Member of the prestigious Indian Merchants' Chamber (Ladies Wing) for over 20 years. She was President Corporate Affairs of J.L. Morison (India) and is a Director of Podar Enterprise. She is an active member of the FICCI Ladies Organization (FLO). She is also the Chairperson of several important committees and an active member of International Business Commerce since 2020. Atul Joshi Member of Management Board, Podar Eduspace Mr. Atul Joshi is a renowned economic policy veteran and an experienced banker with more than 25 years of experience. Most recently he was the Managing Director & CEO of Fitch Ratings Group for India and Sri Lanka. He invests in and mentors start-ups. He is accredited with the introduction of several innovative instruments in the country such as the first CMBS (Commercial Mortgage-Backed Securities) and the first offshore borrowing by any bank since Indian Independence. He has also been on several committees of CII, FICCI and Indo American Chamber. Vedant Podar CEO and Co-founder, Podar Eduspace Vedant Podar recently graduated from Singapore Management University, and attended Harvard College. With a degree in Business Management and majoring in Finance, he has worked in companies across India, Singapore and Boston. His past work experiences span Strategic Consulting, Finance and Entrepreneurship. His dream to upskill India yet rang true and propelled him to his current role - Co-founder and Director of Podar Eduspace. Avinash Bharwaney Chief Financial Officer and Co-founder, Podar Eduspace Avinash Bharwaney graduated with a Bachelor's of Business Administration from the Hong Kong University of Science and Technology, and attended the University of California, Berkeley, and Singapore Management University on his university exchange. With experiences in private equity, management consulting, and in-house corporate M&A, he enjoys combining his love for building business concepts with the larger vision of upskilling India. He has a strong belief in the vision that Podar Eduspace has set out to achieve and believes that it is high time India reassesses its traditional education tracks, and instead should be aligning skill development with employers directly. Ramyasri Sonica Chief Marketing Officer and Co-founder, Podar Eduspace Ramyasri Sonica graduated with a Master's from Erasmus University in Marketing and attended Singapore Management University. With a passion for marketing, she has been honing her skills in digital marketing, email marketing, social media and brand management. After closely working with several NGOs to educate students, Ramyasri has been instrumental in the development and launch of Podar Eduspace. She manages all our marketing communications. Chetan Jaiswal General Manager, Skilling, Podar Eduspace Chetan is a MTech from Rajasthan Technical University and has completed his MBA (Operations Management) from Narsee Monjee University. He has worked as a Lecturer in Electrical Engineering Chetan is a MTech Rajasthan Technical University and has completed his MBA (Operations Management) from Narsee Monjee University. He is a renowned professor for Electrical Engineering across top universities of Rajasthan. He has worked with ICICI Foundation, Dakshana India Education Foundation, Edufront Technologies in Ireland and is developing AI Programs in association with Thimble.io-USA. Vinod Sharma Advisor, Skilling, Podar Eduspace Vinod has over 30 years of experience at junior, mid and senior management levels in Human Resources, Training & Placement and Administration. Competence in Accounts and IT. He has implemented innovative practices in education and is an expert trainer. Anjali Daswani Creative Director, Podar Eduspace Anjali Daswani is an undergraduate student at the Hong Kong University of Science & Technology with a specialised focus in Marketing and Psychology. Her role at Podar Enterprises as the Creative Director for Marketing has involved guiding the brand strategy for the WorkEx Bootcamp program since 2020. Previously, she has worked with startups in diverse roles from Marketing to HR. Mohit Kumar Chief Technology Officer, Podar Eduspace Mr. Mohit Kumar is working with Podar Enterprise for past 22 years. Currently as President, he oversees the Advisory and Consulting assignments of the Group along with International Trade, Strategic Investments, IT projects and the Group’s digital exposure. After starting as IT Project Manager, during last 18 years with the group, he donned different hats from Business Development, IT Advisory, Project Planning, Liaising and logistics including a 4 year stint in China as Head of Overseas operations. He has a Bachelor's in Engineering and holds a Master in Business Administration.

  • Mathematical Modeling of Business Processes by Angel Saraogi | Podar Eduspace

    < Back Mathematical Modeling of Business Processes by Angel Saraogi Understand how money, banking and the financial system intersect and work. Enhance decision-making, reduce costs, manage risks, and increase efficiency in order to boost competitiveness and success. MACROECONOMICS: BRIDGING THE WORLD OF FINANCE, BANKING, AND ECONOMIC MODELING Macroeconomics, the study of the economy as a whole, plays a pivotal role in the realms of finance, banking, and the broader field of economic modeling. It involves the analysis of fundamental economic indicators, such as national income, economic growth, inflation, and unemployment. Mathematical modeling, a key tool in this field, is used to scrutinize these macroeconomic variables, enabling economists and policymakers to predict future trends, make informed decisions, and influence economic outcomes. National Income and Economic Activity: In the context of finance, understanding national income is crucial. National income measures the total income earned by a country's residents, including wages, rents, interest, and profits. It helps banks and financial institutions gauge the overall economic activity and income levels of individuals and businesses within a country. This data is invaluable for credit assessment, investment strategies, and risk management. Mathematical modeling of national income encompasses various approaches, including the expenditure approach, income approach, and production approach. These models help economists and analysts make sense of complex economic systems and evaluate the interplay of factors that contribute to changes in national income. Economic Growth and Investment: Economic growth, a fundamental macroeconomic variable, is closely related to finance and banking. A nation's economic growth rate directly influences investment decisions, interest rates, and banking operations. High economic growth can lead to increased investment opportunities, higher returns on investments, and greater borrowing demand. Mathematical models are used to study economic growth and assess its determinants, such as capital accumulation, technological progress, and labor force growth. These models offer insights into the impact of investment policies and financial practices on long-term economic development. Inflation and Monetary Policy: Inflation, the increase in the general price level over time, is another key macroeconomic factor with significant financial implications. Central banks, such as the Federal Reserve in the United States, use monetary policy to manage inflation. Banking institutions closely monitor inflation rates as they affect interest rates, the purchasing power of money, and the real returns on investments. Mathematical models are employed to study the causes of inflation, including demand-pull inflation and cost-push inflation, and to assess the effectiveness of monetary policy in controlling it. Understanding the relationships between inflation, interest rates, and economic variables is essential for making informed financial decisions. Unemployment and Labor Markets: Unemployment, a macroeconomic indicator reflecting the percentage of people who are without jobs but actively seeking employment, has direct implications for financial institutions. High unemployment rates can impact loan default rates, consumer spending patterns, and credit quality. Mathematical modeling helps analyze labor market dynamics, including the natural rate of unemployment and the impact of government policies on employment levels. Such models provide a basis for assessing the effectiveness of various employment programs and policies, offering banks and financial institutions valuable insights into the economic health of their customer base. The Link between Macroeconomics and Mathematical Modeling: Mathematical modeling is the linchpin that connects macroeconomics to finance, banking, and the broader realm of economic modeling. Economists and financial analysts use mathematical models to simulate, predict, and understand the behavior of macroeconomic variables under various scenarios. These models facilitate scenario analysis, forecasting, and risk assessment, all of which are essential in making sound financial and banking decisions. Furthermore, macroeconomic models serve as a foundation for more comprehensive economic modeling of businesses and industries. For instance, understanding national income and inflation rates is vital when creating financial models for businesses, determining pricing strategies, and assessing the cost structure. Banks rely on economic models to evaluate lending risk, estimate default probabilities, and develop interest rate forecasts. The synergy between macroeconomics and mathematical modeling extends to economic policymaking. Government authorities, central banks, and policymakers use macroeconomic models to assess the potential impact of policy changes on the broader economy, aiding them in making informed decisions about monetary and fiscal policies. In conclusion, macroeconomics and mathematical modeling are inextricably linked and integral to finance, banking, and the broader field of economic modeling. As macroeconomic variables play a central role in shaping financial and banking decisions, mathematical models are indispensable for understanding and predicting economic trends, optimizing investment strategies, and managing financial risks. These disciplines work in harmony to provide the analytical tools and knowledge necessary to navigate the complex world of finance, banking, and economic processes. MICROECONOMICS: NAVIGATING FINANCIAL DECISION-MAKING AND ECONOMIC MODELS Microeconomics, the study of individual economic agents such as consumers and firms, is integral to the broader world of finance, banking, and the field of mathematical modeling. It delves into the intricate behaviors of consumers and businesses, providing insights that influence financial decisions, market dynamics, and the allocation of resources. Mathematical models within microeconomics are fundamental tools for analyzing consumer behavior, market competition, pricing strategies, and resource allocation, thus serving as critical bridges between microeconomics and the broader financial and economic landscape. Consumer Behavior and Financial Decision-Making: Consumer behavior lies at the heart of microeconomics. The financial industry, including banking and investment sectors, relies heavily on understanding how individuals make choices related to spending, saving, borrowing, and investing. Mathematical models in microeconomics are used to predict and analyze consumer decisions, considering factors such as income, price levels, preferences, and risk tolerance. These models help financial institutions tailor their services and products to meet the diverse needs and behaviors of consumers. Market Competition and Pricing Strategies: Market competition and pricing strategies are central to financial and banking operations. Microeconomic models examine the interaction of firms in competitive markets, where they determine optimal pricing strategies to maximize profit and market share. In this context, mathematical models offer insights into price elasticity, the impact of supply and demand dynamics, and the effects of market power. Financial institutions often apply these models to set competitive interest rates, fees, and lending terms, optimizing their profitability while attracting customers. Resource Allocation and Investment Decisions: Resource allocation, encompassing investment decisions by both individuals and businesses, is a cornerstone of microeconomics with direct financial implications. Mathematical models help in understanding how firms allocate resources among various investment projects and how individuals allocate their savings among different assets, such as stocks, bonds, and real estate. Financial institutions leverage these models to provide investment advice, manage portfolios, and assess risk-return trade-offs. Market Dynamics and Investment Portfolios: Market dynamics are a key focus of both microeconomics and the financial world. Mathematical modeling aids in understanding the behavior of financial markets, price movements, and the formation of investment portfolios. Investors and financial institutions use these models to assess asset allocation, optimize investment strategies, and manage risk in their portfolios. Such models allow for scenario analysis, risk assessment, and the development of diversified portfolios. Banking Services and Market Structure: Banking services, a critical component of finance, are influenced by market structure and microeconomic analysis. Mathematical models help banks understand how changes in market conditions, regulatory policies, and technological advancements impact the delivery of financial services. By assessing market structure and competition, banks can adapt their services and strategies to maintain a competitive edge. Economic Modeling and Financial Institutions: Economic modeling, incorporating microeconomic principles, is an essential element of financial institutions' decision-making processes. Banks and investment firms apply economic models to predict interest rate movements, assess credit risk, and evaluate investment opportunities. These models are employed to estimate credit default probabilities, evaluate the performance of investment portfolios, and forecast macroeconomic trends. Government Policies and Financial Impact: Government policies and regulations profoundly affect both microeconomic behaviors and financial operations. Mathematical models in microeconomics are used to study the impact of policies on market structures, consumer welfare, and the overall economy. Financial institutions rely on these models to navigate regulatory compliance, adapt to changing policies, and evaluate the potential financial repercussions of government decisions. Behavioral Economics and Investment Strategies: Behavioral economics, a branch of microeconomics, explores how psychological biases and heuristics influence individual decision-making. This area is relevant to finance and banking as it helps explain investment choices and market phenomena. Mathematical models in behavioral economics offer insights into human behavior, asset pricing anomalies, and the development of investment strategies that consider psychological factors. In summary, microeconomics, with its focus on individual economic agents and behaviors, has a profound influence on the world of finance, banking, and the broader economic modeling landscape. Mathematical models within microeconomics provide the tools to dissect consumer behavior, market competition, pricing strategies, and resource allocation. These models are integral to the financial decision-making processes of banks, investment firms, and other financial institutions. They facilitate insights into market dynamics, investment strategies, and the economic impact of government policies. The synergy between microeconomics and mathematical modeling is a critical bridge that allows financial professionals to navigate the complexities of individual economic behaviors and market interactions, ultimately shaping the financial world and economic processes. FINANCIAL SYSTEMS: THE BACKBONE OF FINANCE, BANKING, AND MATHEMATICAL MODELING Financial systems are the lifeblood of finance and banking, serving as the complex infrastructure that facilitates the allocation of capital, the trading of financial assets, and the management of risk. The interplay between financial systems, banking institutions, and mathematical modeling is a dynamic and critical relationship that underpins the economic stability and prosperity of nations. This exploration delves into the structure, operation, and significance of financial systems and how mathematical modeling plays a pivotal role in analyzing and optimizing their stability and efficiency. Structure of Financial Systems: Financial systems encompass a wide array of institutions, markets, and instruments. These systems consist of various components, including commercial banks, investment banks, stock exchanges, insurance companies, and regulatory bodies. Each component plays a specific role within the broader financial framework, allowing for the efficient movement of funds, the provision of financial services, and the management of risk. The intricate structure of financial systems often necessitates advanced mathematical modeling to comprehend the interactions between these components and their impact on the economy. Functions of Financial Systems: The primary functions of financial systems revolve around the allocation of resources and the mitigation of risk. These systems channel funds from savers to borrowers, allowing for investment in productive activities, innovation, and economic growth. Additionally, financial systems provide mechanisms for risk transfer and management, such as insurance and derivatives, which are fundamental for ensuring financial stability. Banking Institutions within Financial Systems: Banks are central to the functioning of financial systems. Commercial banks play a vital role in the intermediation of funds, offering deposit and lending services. Investment banks, on the other hand, are crucial for facilitating capital raising through activities like initial public offerings (IPOs) and mergers and acquisitions. The mathematical modeling of banking operations, including credit risk assessment, interest rate modeling, and stress testing, is fundamental to the stability and resilience of financial systems. Role of Stock Markets: Stock markets are integral components of financial systems, providing a platform for the trading of equity securities. These markets are essential for firms seeking to raise capital through public offerings and for investors looking to buy and sell ownership stakes in businesses. Mathematical models are employed to analyze stock market behavior, assess asset valuation, and evaluate the efficiency and integrity of these markets. Regulatory Framework and Risk Management: Regulatory bodies and frameworks play a crucial role in maintaining the integrity and stability of financial systems. Regulatory authorities set rules and standards for financial institutions, monitor compliance, and intervene in cases of market distress. Risk management within financial systems involves assessing credit risk, market risk, and operational risk, often through mathematical modeling that helps institutions gauge potential losses and manage capital. Global Financial Systems and Interconnectedness: In an increasingly globalized world, financial systems have become highly interconnected. International financial systems are essential for cross-border capital flows, foreign exchange trading, and international trade financing. Mathematical models are indispensable for understanding the interactions between various financial systems and assessing the impact of global events and trends on the stability of these systems. Mathematical Modeling of Financial Systems: Mathematical modeling is a cornerstone of financial systems analysis. These models provide a means of understanding the intricate dynamics of financial markets, risk management, and regulatory frameworks. They offer tools for assessing the stability and efficiency of financial systems under different scenarios, facilitating stress tests and scenario analysis to predict outcomes in times of economic turbulence. Financial Systems and Economic Modeling: Economic modeling, particularly macroeconomic models, relies on a thorough understanding of the stability and efficiency of financial systems. These models integrate financial variables and institutions into broader economic modeling to assess the impact of monetary and fiscal policies, interest rate changes, and financial crises on the overall economy. By modeling financial systems within the broader economic framework, policymakers and central banks can make informed decisions to maintain economic stability. Challenges and Emerging Trends: Financial systems are not without challenges, including those related to cybersecurity, financial innovation, and regulatory adaptation. As financial systems evolve, so must the mathematical models that underpin their analysis. The application of machine learning, big data analytics, and risk quantification techniques is becoming increasingly important for ensuring the stability and efficiency of modern financial systems. In conclusion, financial systems are the backbone of finance, banking, and economic modeling. They are integral to the allocation of resources, risk management, and economic growth. The interplay between the structure and operation of financial systems, banking institutions, and mathematical modeling is essential for understanding their stability and efficiency. Mathematical modeling helps in assessing the impact of various factors on financial systems, predicting outcomes, and informing economic policies. The intricate relationship between these elements shapes the financial and economic landscape, contributing to the overall well-being and prosperity of societies. RISK MANAGEMENT: SAFEGUARDING FINANCE, BANKING, AND ECONOMIC MODELS Risk management is a cornerstone of finance, banking, and the broader realm of economic modeling. It involves the identification, assessment, and mitigation of risks in various financial and business operations. Mathematical models are essential tools for not only quantifying these risks but also providing a systematic framework for managing them effectively. This exploration delves into the multifaceted world of risk management, its profound implications on finance and banking, and the integral role of mathematical modeling in safeguarding economic systems. The Essence of Risk Management: Risk management is a systematic process designed to identify, evaluate, and mitigate risks that could potentially disrupt the financial health of businesses, institutions, and economies. In the context of finance and banking, risk management encompasses multiple dimensions, including credit risk, market risk, operational risk, and liquidity risk. Each of these risks poses unique challenges and necessitates mathematical models for their analysis. Credit Risk and Lending Practices: In the banking sector, credit risk is a prominent concern. It refers to the possibility that borrowers may fail to meet their financial obligations. Mathematical models for credit risk assessment are indispensable for evaluating the creditworthiness of individuals, businesses, and even governments. Banks rely on these models to determine interest rates, lending terms, and the allocation of capital. Market Risk and Investment Strategies: Market risk, which encompasses the risk of financial losses due to adverse market movements, is a critical consideration in investment strategies. Mathematical models in market risk management are employed to assess portfolio risk, calculate value at risk (VaR), and evaluate the impact of market events on investment portfolios. Understanding market risk aids investors and financial institutions in making informed asset allocation decisions. Operational Risk and Business Continuity: Operational risk pertains to the potential losses arising from internal operational failures, such as inadequate processes, technology breakdowns, and human errors. Banking institutions and businesses employ mathematical models to quantify operational risk and design contingency plans to ensure business continuity in the event of operational disruptions. Liquidity Risk and Financial Stability: Liquidity risk is a significant concern for banks, as it pertains to their ability to meet short-term financial obligations. Mathematical models for liquidity risk management help banks maintain an appropriate level of liquidity to safeguard financial stability. Such models are critical for evaluating the impact of unexpected liquidity shocks and developing strategies for liquidity management. Mathematical Models for Risk Quantification: Mathematical models play an integral role in risk quantification. These models are designed to assess the probability of various risk events, estimate potential losses, and offer insights into the interplay of risk factors. Models such as the Black-Scholes model are used to price options and manage market risk, while models like the Z-score model are employed to predict corporate bankruptcy. Through these models, banks and financial institutions can calculate risk metrics, set risk limits, and develop effective risk mitigation strategies. Risk Mitigation Strategies: Risk management is not solely about quantifying and identifying risks; it also involves developing strategies to mitigate these risks. In banking, the use of collateral, credit scoring, and credit derivatives can help manage credit risk. In investment management, diversification and hedging strategies are employed to mitigate market risk. Mathematical modeling aids in evaluating the effectiveness of these strategies and optimizing risk mitigation efforts. Economic Modeling and Stress Testing: Economic models encompass the integration of various risks into broader economic modeling. Stress testing, a crucial element of risk management, involves using mathematical models to assess the resilience of financial institutions and economies under adverse scenarios. These tests evaluate how different types of risks, such as credit defaults, market shocks, or operational failures, can impact the stability of financial systems. Regulatory Compliance and Risk Assessment: Regulatory authorities impose standards and requirements on banks and financial institutions to ensure prudent risk management practices. These regulations often necessitate the use of mathematical models for risk assessment and reporting. Institutions are required to calculate and report risk metrics, such as capital adequacy ratios, to demonstrate their ability to absorb losses. Behavioral Finance and Psychological Biases: Behavioral finance, an area that explores the psychological factors influencing investor behavior, is closely linked to risk management. Behavioral biases, such as overconfidence and loss aversion, can significantly impact financial and investment decisions. Mathematical models in behavioral finance offer insights into the influence of these biases and help develop risk mitigation strategies that account for human psychology. In conclusion, risk management is a linchpin that connects finance, banking, and the broader field of economic modeling. It serves as a safeguard against potential financial disruptions and economic instability. Mathematical modeling is indispensable for quantifying, analyzing, and managing risks in various areas, including credit risk, market risk, operational risk, and liquidity risk. The synergy between risk management and mathematical modeling ensures the stability and resilience of financial systems and economic models. These disciplines work together to create a robust framework for identifying, assessing, and mitigating risks, ultimately contributing to the stability and prosperity of economies and financial institutions. INTERNATIONAL BANKING AND INVESTMENT & CORPORATE FINANCE: NAVIGATING GLOBAL FINANCIAL LANDSCAPES International banking and investment and corporate finance are two significant subtopics within the broader domains of finance, banking, and economic modeling. Both areas have far-reaching implications for the global economy, and mathematical modeling is a powerful tool employed in analyzing and optimizing various aspects of international financial transactions, investment opportunities, capital allocation, and corporate financial planning. This exploration will delve into the multifaceted realms of international banking, investment, and corporate finance and the vital role that mathematical modeling plays in bridging these domains with the broader economic landscape. International Banking: International banking constitutes the backbone of cross-border financial transactions, global banking operations, and foreign exchange markets. This subtopic is fundamental in the context of the global economy as it facilitates international trade, foreign investments, and the efficient allocation of capital across nations. Mathematical models in international banking are indispensable for assessing the stability and efficiency of global financial systems. Cross-Border Financial Transactions: Globalization has given rise to a complex network of cross-border financial transactions. These encompass trade finance, foreign investments, and capital flows between nations. International banks play a pivotal role in facilitating these transactions by providing trade finance services, foreign exchange trading, and international payment systems. Mathematical modeling is employed to analyze the implications of currency exchange rates, interest rate differentials, and geopolitical events on these transactions. Foreign Exchange Markets: Foreign exchange markets, also known as forex markets, are central to international banking. These markets are where currencies are traded, impacting exchange rates and currency values. Mathematical models in foreign exchange markets provide insights into exchange rate behavior, currency pricing, and the evaluation of currency risk. These models enable banks and financial institutions to develop currency trading strategies and manage foreign exchange exposures. Global Banking Operations: Global banking operations involve international expansion and the establishment of branches and subsidiaries in foreign countries. These operations are vital for serving international clients, facilitating global trade, and providing financial services to a diverse clientele. Mathematical models are employed in assessing the profitability of global banking operations, evaluating regulatory compliance, and optimizing the allocation of resources across international branches. Mathematical Modeling in International Banking: Mathematical modeling is crucial in international banking for various purposes: Currency Exchange Rate Forecasting: Mathematical models help forecast currency exchange rates, allowing banks and multinational corporations to make informed decisions regarding currency exposure and hedging strategies. Trade Finance Risk Assessment: Models are used to assess the creditworthiness of international trading partners, evaluate country risk, and facilitate trade finance through instruments like letters of credit and export credit insurance. Optimizing Capital Flows: Mathematical modeling aids in optimizing the allocation of capital across international branches and subsidiaries, ensuring efficient use of resources and regulatory compliance. Investment and Corporate Finance: Investment and corporate finance encompass critical decision-making processes related to capital allocation, investment projects, and capital structure. These decisions are pivotal for businesses, as they impact growth, profitability, and shareholder value. Mathematical modeling is a fundamental tool in evaluating investment opportunities, capital budgeting, and overall financial planning. Capital Allocation and Investment Opportunities: One of the central concerns in investment and corporate finance is the allocation of capital among different projects and opportunities. Mathematical models are used to assess the feasibility and profitability of investment projects, ensuring that resources are directed toward ventures that maximize shareholder value. Capital Budgeting and Financial Planning: Capital budgeting involves evaluating long-term investment projects by considering their cash flows, risk factors, and potential returns. Mathematical models like discounted cash flow (DCF) analysis help in this process, enabling businesses to make well-informed investment decisions. Optimizing Capital Structure: Determining the optimal capital structure is another significant aspect of corporate finance. Mathematical models assist in assessing the trade-off between debt and equity financing, taking into account factors like tax benefits and risk. These models help businesses determine the ideal mix of debt and equity to minimize the cost of capital. Economic Modeling and Investment Strategies: Economic models, which encompass macroeconomic and microeconomic principles, play a vital role in investment and corporate finance. These models help businesses assess the impact of economic variables, such as interest rates, inflation, and exchange rates, on their investment strategies, pricing decisions, and overall financial planning. Risk Assessment and Financial Decision-Making: Risk assessment is integral to investment and corporate finance. Mathematical models are employed to evaluate the risks associated with various investment opportunities, enabling businesses to quantify potential losses and make risk-informed decisions. The Synergy of Mathematical Modeling: The application of mathematical modeling in international banking, investment, and corporate finance is a common thread that weaves these areas together with the broader financial landscape. These models provide a systematic approach to analyzing and optimizing various aspects of financial decision-making. They aid in risk assessment, economic modeling, and the evaluation of investment opportunities. By bridging these domains, mathematical modeling serves as a fundamental tool for businesses, financial institutions, and policymakers, ensuring informed decision-making, financial stability, and economic prosperity on a global scale. In conclusion, international banking and investment and corporate finance are essential subtopics within the realm of finance, banking, and economic modeling. They facilitate cross-border financial transactions, global trade, and capital allocation, impacting the global economy. Mathematical modeling is the key to understanding, assessing, and optimizing various aspects of these domains, ensuring efficient financial operations and economic prosperity on a global scale. The synergy between mathematical modeling, international banking, and investment and corporate finance is crucial for navigating the complexities of global finance and economic systems HISTORY OF MONEY The history of money delves into the fascinating journey of how societies have created, evolved, and employed various forms of currency and monetary systems. Although it may not be a typical field for mathematical modeling, it is deeply intertwined with economics and monetary history. The historical context and evolution of money provide valuable insights into current economic issues and the foundations of modern financial systems. The Evolution of Monetary Systems: The history of money takes us on a journey from barter economies to the emergence of commodities as a medium of exchange, such as gold and silver. This transition eventually led to the creation of paper currency, coins, and, in contemporary times, digital and cryptocurrencies. Understanding this evolution is pivotal for comprehending the complexities of modern monetary systems. Economic Implications: Although mathematical modeling may not be directly applied to the historical study of money, the lessons drawn from monetary history are of profound economic significance. They shed light on the impact of currency devaluation, hyperinflation, and monetary policy. Furthermore, they provide insights into the importance of stable currencies and the role of central banks in maintaining economic stability. Corporate Governance: Corporate governance is a critical subtopic concerned with the structure, policies, and principles that guide a company's actions and decision-making processes. While mathematical models may not be the primary tool for corporate governance, they can be employed to assess and enhance corporate performance, risk management strategies, and shareholder value. Structure and Policies: Corporate governance focuses on the delineation of roles and responsibilities within a company, the relationships between stakeholders, and the establishment of clear policies to ensure ethical behavior and accountability. Mathematical models can be used to analyze the effectiveness of governance structures and assess how they impact decision-making and corporate performance. Performance Assessment: Mathematical models are valuable tools for evaluating the financial performance of companies. Financial ratios, valuation models, and risk assessment techniques provide shareholders and investors with quantitative insights into a company's health and prospects. These models play a pivotal role in assessing profitability, efficiency, and overall corporate well-being. Risk Management Strategies: Corporate governance is closely linked to risk management, as it involves developing policies and strategies to identify, assess, and mitigate risks that could affect a company's operations and shareholder value. Mathematical modeling can aid in assessing the potential impact of various risks, offering decision-makers insights into the trade-offs between risk and return. Shareholder Value and Decision-Making: Mathematical models can be used to assess the impact of corporate decisions on shareholder value. For instance, decision trees and discounted cash flow models help evaluate the financial implications of strategic choices, investments, and capital allocation decisions. Shareholders and corporate boards rely on these models to make informed decisions that align with their goals and values. Entrepreneurial Finance: Entrepreneurial finance is a dynamic subtopic that addresses the financial aspects of entrepreneurship and startup ventures. Mathematical models are instrumental in assessing the feasibility of business plans, determining valuations, and formulating funding strategies for new enterprises. Feasibility Assessment: For entrepreneurs and investors, mathematical modeling is used to assess the financial viability of business plans. Models like the break-even analysis, net present value calculations, and scenario analysis provide a quantitative basis for evaluating the profitability and sustainability of startup ventures. Valuation Methods: Determining the value of a startup or entrepreneurial venture is a crucial element of entrepreneurial finance. Mathematical models such as the discounted cash flow method and the comparable company analysis are employed to estimate the worth of the business. These valuations assist in negotiations with investors and stakeholders. Funding Strategies: Entrepreneurial finance involves developing strategies to secure funding for startup ventures. Mathematical models assist in crafting financial plans, estimating capital requirements, and assessing the impact of different funding sources on the ownership structure of the company. In conclusion, the history of money, corporate governance, and entrepreneurial finance are all integral components of the broader financial landscape. While not all of them are directly linked to mathematical modeling, they offer valuable insights into economic, financial, and business contexts. The relationship between these subtopics and mathematical modeling is evident in their roles in enhancing decision-making, assessing financial viability, and optimizing corporate performance. This synergy between history, governance, finance, and mathematical modeling is fundamental to understanding and navigating the complex world of finance and entrepreneurship. BIBLIOGRAPHY 1. Smith, J. A. (2020). The Art of Research: A Comprehensive Guide. Academic Press. 2. Brown, M. L. (2019). Exploring New Research Methods. Journal of Research, 45(2), 123-137. 3. https://www.bloomberg.com/asia 4. https://finance.yahoo.com/?guccounter=1 Previous Next

  • EduTech - The New Age Education by Anoushka Sen | Podar Eduspace

    < Back EduTech - The New Age Education by Anoushka Sen EduTech is a developing industry in education, that has been propelled by the COVID-19 pandemic. Learn about the key players, untapped areas, impact, and future prospects of the industry. AREAS UNDER EDUTECH (DEFINITION OF EDUTECH) Educational technology is the combined use of computer hardware, software and educational theory and practice to facilitate learning in classrooms. When referred to with its abbreviation, EdTech, it is often referring to the industry of companies that create educational technology. EdTech is still in the early stages of its development, but it shows promise as a method of customizing a curriculum for a student’s ability level by introducing and reinforcing new content at a pace the student can handle. The goal of EdTech is to improve student outcomes, enhance individualized education, and reduce the teaching burden on instructors. While many praise technology in the classroom, others fear that it is impersonal and can lead to data collection and tracking of both students and instructors. Some areas under edutech include online learning platforms, virtual reality, mobile technology, youtube. In-classroom tablets, interactive projection screens and whiteboards, online content delivery, and MOOCs (Massive Open Online Courses) are all examples of EdTech. Learning methodology today typically covers a structured curriculum, interactive classes, labs, project work, and finally assessments. There are many users of edutech in the field of education like primary school, secondary school, higher education. Areas under edutech MOOCs IMPACT OF COVID-19 ON EDUTECH - NEED, ACCEPTABILITY EdTech has been around for nearly the last 15 plus years in a meaningful way. Technology has scaled to a level where everything happens seamlessly online and delivers a great learning experience and great outcomes. This era of EdTech is about the use of technology to highly personalize the learning experience, try new approaches, and to scale education in unimaginable ways. Present-day classrooms have moved beyond the clunky computers that were once the norm and are now tech-infused with tablets, interactive digital courses, and even robots that can take notes and record lectures for students who are not well and it looks like technology in the classroom is here to stay — the majority of teachers believe tech is going to have a major impact on the way they educate in the near future. The immense rise in EdTech users due to the nationwide lockdown has provided a significant push to the sector in India, which is relied upon to develop at a CAGR (Compound Annual Growth Rate) of 52% to having been turned into a 1.96 billion dollar industry by 2021. The key development drivers propelling EdTech in India are the capacity to serve a large audience at essentially lower costs compared to traditional classroom learning, critical growth in internet, Smartphone infiltration across India and steady growth in disposable income of the Indian families. The countrywide lockdown due to the pandemic led to the shutting down of schools and universities which saw the emergence of many EdTech platforms and services and a rise in adoption. The EdTech sector saw major investments and spending by governments, schools, universities, students, and professionals globally. While the growth has been tremendous, the industry suffers from challenges such as scaling up rationally, defeating infrastructure barriers, and retaining growth. Lockdown boosted innovation and investment in the EdTech Sector. There are around 4,450 EdTech start-ups operating in the nation presently catering various segments including K-12 (Kindergarten to 12th grade), vocational, and professional training/skilling and school/college educational operations. While the K-12 and competitive examination segment is ruled by Indian players, the international players are centered on reskilling, vocational preparation, and certifications. A lot of innovations have been tested within the Indian EdTech industry to balance the dynamics of teachers and students from a traditional classroom to a virtual one. Technology is turning teacher-driven education into a more teacher-student arrangement. Smart classrooms are making teaching transparent and equivalent for every student in a way close to the genuine classroom-like experience. Impact of Covid-19 on Edutech Need - The COVID-19 pandemic has changed education forever. The COVID-19 has resulted in schools shut all across the world. Globally, over 1.2 billion children are out of the classroom. As a result, education has changed dramatically, with the distinctive rise of e-learning, whereby teaching is undertaken remotely and on digital platforms. While countries are at different points in their COVID-19 infection rates, worldwide there are currently more than 1.2 billion children in 186 countries affected by school closures due to the pandemic. In Denmark, children up to the age of 11 are returning to nurseries and schools after initially closing on 12 March, but in South Korea students are responding to roll calls from their teachers online. Even before COVID-19, there was already high growth and adoption in education technology, with global EdTech investments reaching US$18.66 billion in 2019 and the overall market for online education projected to reach $350 Billion by 2025. Whether it is language apps, virtual tutoring, video conferencing tools, or online learning software, there has been a significant surge in usage since COVID-19. Acceptability - Covid-19 pandemic enabled EdTech to become leading sector for growth. With the emergence of EdTech, teachers and parents are adopting a more practical way of imparting knowledge. The EdTech industry went the extra mile to help students amid the ongoing Covid-19 pandemic. The increased adoption by institutions, professionals, parents, and students marks the growth. It has always existed, but its popularity and growth are in the news. India's shift to digital teaching in the past 10 months has been rapid. Since March 2020, the number of students learning online in India has increased dramatically. Schools, universities and educational institutions have moved online due to the lockdown and worry about Covid-19. In the past ten months, the user base of several EdTech platforms has doubled in both paid and free daily visitors. Adoption of EdTech tools and products by students, teachers, and institutes - While current classroom doors are closed in schools of all levels, the educational process has shifted online. Teachers whose lesson plans were designed for the analogue form had to adapt to this new digital environment in order to be effective and keep students learning. EdTech saw the major adoption of online self-based curriculums and online class management. Before Covid-19, educational technology had already seen tremendous development and acceptance with a variety of adoptions in educational institutions and at home, such as using visual aids, undertaking research, and creating online portals. Improved digital literacy, increased student engagement, automated grading, staying in touch 24X7, publishing and displaying student work, and personalising learning are just a few of the benefits. EdTech tools and platforms are thus giving educational institutions a tremendous opportunity to respond to the challenge and achieve a seamless transition from offline to online education. KEY PLAYERS IN INDIA India to become the Edtech Capital of the World EdTech funding focused on start-ups - Indian EdTech start-ups raised more than US$ 1.43 billion across 100 deals in 2020. The COVID-19 pandemic disruptions and subsequent lockdowns compelled both parents and educational institutions to implement tech-enabled learning solutions, making EdTech the most funded sector in the country. Of the total funding raised, Byju’s leads with 57%, followed by Unacademy (10.5%) and Vedantu (9.5%). Since 2020, India has seen four EdTech start-ups turn into unicorns (Unacademy, UpGrad, Eruditus and Vedantu) and one into a decacorn (Byju’s). A unicorn is a company valued over US$ 1 billion and decacorn is valued >US$ 10 billion. A hybrid EdTech industry - According to experts, players in the EdTech segment are expected to adopt a hybrid channel approach in the future. Online players are trying to establish offline touchpoints for students. For instance, EdTech decacorn Byju’s has piloted Byju’s Learning Centre, a new hybrid model, allowing students to visit offline education centres for classes. BYJU's is an Indian multinational educational technology company, headquartered in Bangalore. It was founded in 2011 by Byju Raveendran and Divya Gokulnath. as of December 2021, BYJU'S is valued at US$21 billion and has over 115 million registered students. Byju’s acquired three major companies - Epic , an online library for kids aged under 12, for US$ 500 million; Singapore-based Great Learning , an online professional and higher education company, for US$ 600 million and Toppr , an after-school learning platform, for US$ 150 million. Unacademy aims to build the world's largest online knowledge repository for multi-lingual education. They use technology to empower great educators and create a community of self-learners. Their vision is to partner with the brightest minds and democratise education for everyone looking to learn. They want to change the future of education. Vedantu is an Indian online tutoring platform launched in 2011 based in Bengaluru. UpGrad is an online higher education company. It offers over 100 courses in collaboration with global universities. It raised US$ 120 million from Temasek. The Eruditus group, consisting of Eruditus Executive Education and its online division Emeritus, partners with top-tier universities across the United States, Europe, Latin America, India and China to bring world-class business and professional education to a global audience. Eruditus has partnered with more than 50 universities to date, including MIT, Columbia, Harvard, Cambridge, INSEAD, Wharton, UC Berkeley, INCAE, IIT, IIM, NUS and HKUST, educating more than 250,000 individuals across 80 countries. Many courses are offered and facilitated in multiple languages, including Spanish, Portuguese and Mandarin. The Eruditus Group has more than 1,400 employees globally and offices in Mumbai, New Delhi, Shanghai, Singapore, Palo Alto, Mexico City, New York, Boston, London, and Dubai. Eruditus is a global leader in the $280 billion global professional education market. Teachmint , a start-up that helps teachers and institutions create their own virtual classrooms, raised US$ 78 million in a Series B funding. The new round of funding values the company at US$ 500 million. EdTech start-up Classplus raised US$ 65 million in a Series C round led by Tiger Global Management. Doubtnut , a K–12 EdTech platform, has raised approximately US$ 30 million from SIG Global and Lupa Systems. Existing investors Sequoia Capital India, Omidyar Network India and Waterbridge Ventures also participated in the Series B round. Key Players in India TARGET AREAS, STILL UNTAPPED AREAS Target areas Previously dominated by the K-12 segment, the EdTech sector is now witnessing strong growth in the post-K-12 segment. Online education offerings for the K-12 segment (Classes 1 to 12) are projected to increase 6.3X by 2022, creating a $1.7 billion market and the post-K12 market is set to grow 3.7X to touch $1.8 billion. When compared to traditional education (school, college), online education is more affordable. There are numerous e-learning platforms available for the students where they can get access to quality education at the most affordable cost. Due to the affordability factor, students belonging to different income categories and social class can get access to quality education with attractive visuals and expert teachers. There are around 624 million active internet users in India as of February 2021. These active users offer a huge growth opportunity for the EdTech stakeholders. Particularly in Tier 3/4 cities, segments such as online tutoring and competitive exam preparation can have strong growth. With more people in the target audience pool, every segment of the EdTech industry can have ample growth opportunities. Still untapped areas EdTech has untapped potential. The education market in India is massive yet highly under-penetrated, with online learning forming only 2% of this, says Vamsi Krishna, Co-Founder & CEO, Vedantu. Online education start-ups have benefited immensely from the shutdown of schools and colleges, as they tried to fill the gap with online classes. Investors, too, have jumped on to the EdTech bandwagon, even as funds dried up for startups in other sectors. EdTech startup Vedantu raised $100 million in July at a valuation of $600 million, making it the second-most valuable online education startup in India after Byju’s. Virtual is becoming the new normal in learning and is the key to driving growth during the coronavirus pandemic, said Vamsi Krishna, co-founder and chief executive officer, Vedantu. Virtual is becoming the new normal in learning. Therefore, their strategy to encourage learners to experience live, online learning will continue. They believe this will be key in driving category and business growth during the pandemic and beyond. Vedantu is exploring opportunities to scale impact, as it achieves 4x growth, and looks forward to adding 30-40% employees this year. Online learning has seen exponential adoption among students during this pandemic, and schools, as well as institutes, have switched to an online mode to ensure that India’s learning never stops. This continues to benefit students. But switching from offline to online platforms has been a challenge for many teachers, as they were not used to conducting classes in the virtual world. They expect to see more momentum with new users experiencing the benefits of online learning. India has been at the forefront of making the shift towards online learning. While the education market is huge, online penetration is still at a nascent stage. Therefore, investors are increasingly exploring opportunities in this market because of the untapped potential. To invest in this market, they are looking for partnerships that have long-term growth opportunity, the potential to scale and a successful business model. Despite coming up with superior technology solutions for online learning, EdTech startups still are not quite reaching the full potential because of the digital divide, as quality and equality issues are prevalent in India. There is also a misplaced notion about the use of gadgets. Time spent on gadgets and overuse is linked to many unpleasant outcomes. Online learning, when done in moderation and with guidance, can help unlock the potential of each child. A majority of India’s student population still does not have access to a quality teacher or good learning content. The pandemic has only made the situation more stark and online learning has emerged as the only practical solution. ADVANTAGES / DISADVANTAGES Advantages Today’s students are very different from what they used to be. Digital technology has changed the way learners consume information and approach education. The world around us is changing at a rapid pace, and schools, colleges, and educational institutions are all struggling to catch up. Thus, the need for educational reform is higher than it ever was. What can the education system do? First and foremost, it needs to remodel its classrooms to fit those new needs. It needs to embrace technology more broadly to create new learning experiences that can appeal to digital students. This implies a lot of things: the use of new technologies, the training of teachers, the modification of class organization, and, more importantly, a redefinition of what it means to educate people in the 21st century. It’s not an easy task for sure, but it needs to be done in the short term. Doing so can dramatically improve the quality of the education system as a whole, benefiting students, teachers, and society. Some educational organizations are already showing us the way. They are collaborating with education software development companies to digitize the classrooms and bring technology into all kinds of learning experiences. Advantages Tech Provides More Immersive Learning - The digital world is filled with resources that can enrich any class, engaging students at a deeper level and provide interactive experiences that can shed new light on their understanding of a lot of subjects. Imagine, for example, a geography teacher using Google Maps on a digital board to take students on a virtual tour of the Andes or a physics teacher using a 3D simulator to show the effects of different forces at play in a particular movement. There is a lot of software available for a multitude of subjects, from math and chemistry platforms to biology applications. But that is not all there is to it. Immersive learning can also mean virtual reality and augmented reality to offer more sophisticated classes to students. Imagine being able to “walk” through the corridors of the Colosseum or learning to play the piano through a projection on a desk! That’s precisely what technology can give digital learners. It Customizes Learning for Each Student - One of the most significant drawbacks of traditional education is that a single teacher or professor has to prepare classes for different students. That means that classes do not take into account the different kinds of learners inside the classroom, which ends with certain students lagging. Fortunately, technology can help with the diversity of learning styles. How so? By letting teachers follow student progress individually and in real-time. Some platforms can gather information from each student as they work on their assignments and suggest areas of improvement to teachers. Thus, digital learners can move at their own pace, following the recommended path, while teachers can focus on students that are struggling with a particular task. Technology Provides Easy Access to More Learning Resources - Today’s students have grown accustomed to searching for information online whenever they have to solve a problem or learn how to do something. By doing so, they are now used to interacting with search engines, ebooks, educational and how-to videos and online platforms and forums. All of that needs to be present in any classroom to leverage the students’ familiarity with them. Naturally, educators can go beyond that. They can use online tools to allow remote access to students, use streaming to provide tutoring classes, and even use gamification elements in a custom educational software to provide centralized resources more efficiently and in a more engaging manner. Tech Adds Fun to Learning – Students are used to technology being a central part of their everyday lives, so its absence immediately puts them off. Just the inclusion of technology can boost their interest in classes. Yet, technology can do far more than just being there – it can bring fun into the classroom. The gamification elements mentioned are just one of the ways educators can use to generate further engagement with their students. Games themselves are also great to teach about specific concepts in key subjects such as math, chemistry, biology and physics. Of course, there is more than just games – interactive videos and educational robots are other alternatives that can bring the same amount of educational value and excitement. It Increases the Collaboration - Today, technologies help connect the world in a myriad of ways, from connecting people from halfway across the world in a video call to allowing different individuals to work on the same online project simultaneously. Those collaboration capabilities can have a significant impact on the classroom as well. We already mentioned online tutoring classes and remote lessons as ways in which technology can democratize student participation. Group projects and assignments can be done more easily with the tools available today, from text processors and spreadsheets to scientific calculators and online presentation makers. The technology itself can be a goal that fosters collaboration. For instance, a professor could encourage their students to build a website about a particular topic, which won’t just teach them about the subject but also teach them about building a website as a team. Technology Better Prepares Students for Today's Jobs - Traditional education might be excellent at providing fundamental concepts about essential subjects, but it’s getting further away from the workforce’s reality. Today, most jobs call for tech knowledge of varying degrees. At the very least, all jobs require a certain digital alphabetization that most students today have to learn for themselves. Educational institutions can help with that through technology. By encouraging the use of digital tools such as calendars, websites, video calling apps, electronic whiteboards, emails, mobile apps, and more, educators can help students learn how to work with all those tools. Naturally, all of those tools would be boosted by the inclusion of tech-related subjects in the education programs, starting from an early age. Thus, the education system would place technology where it belongs today – at the center stage. Technology Teaches About Digital Life - Technology doesn’t just help prepare students for work but also helps them understand everything that surrounds the tech life itself. Nowadays, many of our lives rely on digital technologies, from entertaining ourselves and communicating with others to paying bills. Besides, social media is a force to be reckoned with, so understanding what it means to participate in that digital life is something students should learn from an early age. In other words, if children start using technology in the safe space of the classroom, they can learn a lot about digital tech responsibility. That’s the perfect environment for students to learn about digital identities, digital citizenship, and online etiquette and what it all means in the broader context. Disadvantages Students: No immediate feedback from instructors - Communication with instructors will inevitably include some wait time. Questions will not be answered immediately due to Professors not having set “office hours” and not being in the classroom at the same time. Lack of face-to-face interaction and connection with the instructor - There is a lack of accountability, because students are truly just "names" to their instructors. Creating personal relationships with instructors is nearly impossible, which is one of the largest factors in successful learning for many students. May require more time - For students that are not as skilled with technology, it could require more time to do this work on their own, to navigate the web etc. Requires technological awareness - Students must be adept at a variety of technologies in order to successfully receive and turn in assignments, communicate with other students etc. Requires students to have access to technology, which is not always possible for lower-income students - Students must obtain a personal computer with a range of programs on it, most likely should have wireless internet in the home etc. This is not always possible for students with fewer financial resources. Lack of motivation for learners who are not intrinsically motivated - Many students benefit from teachers or other peers learning alongside them. It can be difficult for students to desire to learn and work hard when they do not know anyone else doing it. Teachers: The amount of work required to translate the whole classroom structure to a web-based format - It can take a lot of work for teachers to re-format a class so that it fits the web. Teachers must be very adept with technology in order to do this in a timely fashion. Misunderstandings of assignments or instruction - There can be confusion between students/instructors because students only have access to the written explanation of an assignment. Students are not able to ask for clarification, or hear other students' questions. Difficulty motivating students when there is no face-to-face interaction - A large part of teaching is having a rapport with students. When this is taken away, teachers may have a difficult time motivating students from a distance. Lack of feedback from students to help with gauging response - Instructors are unable to get an accurate "feel" for how they are doing and how students are receiving instruction. This is often gained by reading students' facial expressions or reactions, and this cannot be done without face-to-face interaction. IMPACT ON PHYSICAL TEACHING METHODS The Covid-19 pandemic has changed the way teachers prefer working and many are now moving from teaching at schools to the virtual world of edtech startups. After almost two years, students are heading back to school with much enthusiasm for offline classes, but a change has been witnessed in the teachers’ choices as well. Some of the teachers are choosing to continue with virtual classes with new edtech startups, leaving behind the traditional chalk-and-talk teaching methods. During the pandemic, almost every teacher had to learn the new virtual teaching methods by sitting in front of their mobile or laptop screens. Now, they become habitual to these methods as it not only provides them with the potential of greater remuneration but also helps them gain digital skills. The new edtech approach Edtech businesses are positively transforming the education industry. Edtech firms have come a long way, especially during the pandemic, by bringing teaching and learning to an entirely digitised form. Many edtech companies have noticed the shift in how teachers want to teach now and have incorporated tools to help them make the move from physical to digital more easily, such as enabling simplified sharing of videos, puzzles, assessments, and reports. With the help of advancements in artificial intelligence, instructors now have access to a variety of tools powered by machine learning algorithms that make their jobs easier. Special activities, such as verifying responses for assignments, allow them to devote more time to other parts of teaching. The mission of the startup mattered the most to these educators. What came in second was having the organisation’s support with content, training, and access to a community of fellow educators. Edtech provides full-time stability and recognition Teachers who were not able to get adequate job security even after working almost half of their lives in schools can get an opportunity to work as full-time members of edtech startups and be better recognised for their effort. Aanand Srinivas, the founder of the edtech startup StayQrious, which was working with around 50-60 teachers before, saw a definite hike in applications from teachers with a background in traditional teachers during the pandemic. The number of teachers have now increased by around five times as it was earlier. Attractive pay scale After a long interaction with teachers, we got to know that teachers are getting pretty good salaries as compared to what they were earning after spending 75% of their daily time in a private school. “When I was working in a Delhi-based private school, I used to earn around Rs 25,000 to Rs 30,000 in a month. Now, I am earning Rs 60,000 in a month with better compensation and facilities than is provided in schools,” says Mansi Garg, a learning coach at StayQrious. The pandemic has not only changed the learning approach of students but has also changed the mindset of teachers concerning the new facilities they could get and the skills they could develop while working for edtech startups. Edtech startups are now attracting creative talents from all over the country. “With more awareness spreading, we are hoping many of the best minds decide to enter the field of education as the scale of the problem is large and we'll need to have teachers with the right mindset to solve it,” says StayQrious Founder Aanand Srinivas. EDUTECH IMPACT ON EDUCATION AS A WHOLE In this generation, technology plays a major role in everyday lives. We now live in an era where people are consumed by technology devices, which is shaping how we communicate. As these technologies evolved, the nature of teaching and learning has become much more collaborative. With these advanced technologies we are stepping into a whole new world of innovation and creativity. Active engagement - Technology is interactive, this helps students to become passionate about what they are learning. By using the internet, students can get updates on real time issues and solutions. Allowing children to participate in an active way reduces behavioral issues in class, it gives more dedicated time for teachers to focus on the subject. Discussion and working group - By using software tools, students can create online groups and virtual communities that connect them with students and teachers anywhere around the world. Online communities provide a great opportunity for students to discuss their ideas and receive feedback in real time allowing for a more efficient work environment. Coaching and Assessment - As technology continues to evolve, teachers must adapt. Incorporating technology into a classroom setting allows for an enhanced relationship between student and teacher. Teachers can now share lesson plans, lectures, and presentations with ease while students can upload their assignments from their devices. Teachers have become facilitators, providing constant feedback, enabling students to achieve deeper levels of understanding. They ensure that students are not just learning the concept, but also how to apply the knowledge, it develops critical-thinking and problem solving skills. Simulation Software - Simulation software brings to life, the wonders of our world that would be impossible to see without technology. By using specific simulation tools, students can see planetary movements, how a tornado develops, or how the dinosaurs lived. The ultimate aim of EdTech implementation should be to enhance the quality of education and improve engagement levels among students. It is important to balance the visual content with reading, as well as the interactive elements and games with independent thinking and writing, so that students won’t be completely absorbed by all that the internet has to offer. In the interactive age, teachers have more abilities to turn classes into exciting places for discovery and learning adventures. Many in the ed-tech field see new technologies as powerful tools to help schools meet the needs of evermore-diverse student populations. The idea is that digital devices, software, and learning platforms offer a once-unimaginable array of options for tailoring education to each individual student’s academic strengths and weaknesses, interests and motivations, personal preferences, and optimal pace of learning. Increasing Accessibility and Flexibility - Technology has changed education. Information is more accessible now than ever before. We now have fully-fledged universities that thrive by offering all their courses online, it is now easy for anyone to access a desired educational course online. Technology has brought people together by breaking the geographical barriers that limited access to education in the past. Students can learn at their own pace, depending on their ability and the amount of time. Learning materials are delivered to students online, students can schedule their learning timetables as they wish. Special Needs in Education - For years, special needs has been an important issue in education. Traditional classroom environments may fail to address the individual needs of some students. Digital learning provides a highly flexible, interactive and accessible nature for individuals to learn in ways that suit their personal needs, capabilities or even challenges. More so, teachers can now use various technology applications to help students with particular needs learn better. Making Learning Fun Again - Technology has changed education in the ways which learning content is now delivered. Teachers can now use videos, animations, and e-books to enhance the process of learning. It’s common for students and teachers to use games as a way of making the process more interactive. As a result, learning and teaching are now more effective and meaningful than ever. Interaction between teachers and students - Nowadays, the absolute dependence on physical meetings is gone. It is easy for teachers and students to stay in touch via email and other internet-based services such as file-sharing and messaging. Online Tests and Assessments - It is now possible for institutions to test their students online. Students can now use e-assessments to accurately evaluate their performance as well as their professors. Similarly, education institutions can efficiently assess their students using online assessments, saving time and resources. Differentiated Instruction - The technology in education also provides a means to focus on active student participation and also to present different strategies of questioning. It also promotes plans of personalized learning and broadens individualized instructions. The use of internet in education has made a great impact on the educators and students in the whole education system. Internet itself has unlocked a world of opportunities for students. Improved Student Writing - It is also suitable for students to change their written work on word processor which also helps in improving the quality of their writing. According to various studies, students are better at editing and critiquing written work when it is done on a computer. Technology has changed education in many ways. From making education more accessible and meaningful, to enhancing the manner in which teachers and students interact during the process of learning. Technology has had many profound and positive effects on education as a whole. FUTURE PROSPECTS 2021 marked a paradigm shift towards EdTech and the trend will strengthen in 2022. More students will realize that traditional offline players haven't built the capability to provide the support needed in these hyper-competitive times. By 2026 the online education industry is set to grow by 11.6 billion. As per the recent population census survey, nearly 580 million Indians are between 5-24 years of age, with about 250 million of them currently enrolled in schools. This means that about 36 per cent of India’s population is young and learning. That’s a huge market for the education sector to leverage and grow. Like any other sector, the education sector has also seen an online transformation post COVID. However, by 2026 the online education industry is set to grow by 11.6 billion. This proves that the EdTech revolution is not a temporary adjustment but a permanent solution. Online education to ensure continued learning The Government of India has always taken progressive steps when it came to education. In 2002, Foreign Direct Investment through the automatic route was 100 per cent permitted. Due to which the transfer of knowledge, skills, technology, and expertise has become a global phenomenon. Online education has only contributed to accelerating the globalisation of education. A case in point would be the emergence of online programs in renowned and Ivy League global universities like Deakin University, Liverpool John Moores School, Duke University and the University of Arizona. A student from any part of the world can earn and learn at the same time, hence reducing the burden of clearing piled up loans later on. Likewise, Amazon has launched its ambitious computer education programme in India where it would identify and train 1 lakh students for future employability in its organisation. Many mid-level employees will get better projects and salaries as they upskill through online programs offered by EdTech startups. Similarly, the Indian Institutes of Management (IIMs) have partnered with online service providers to provide online and blended courses in digital marketing, product management, finance and operations for working professionals. Better qualified and well-paid teachers A report by KPMG (Klynveld Peat Marwick Goerdeler) shows that India has the second-largest market for online education, right after the US. This means that the nation is going in the right direction as per the recent Nation Education Policy (NEP) passed in 2020. With proper planning and execution, the online medium has the power to meet all the four policy parameters of NEP — Access, Equity, Quality, Affordability, and Accountability. Right now, the challenge faced by Indian Education is not the lack of consumers (students) but the lack of qualified and willing suppliers (educators.) One of the major reasons for this is the low pay for an educator in a traditional school or college setup. Those who are highly qualified in their field prefer to take up corporate assignments with lucrative pay rather than settle for less. However, online educators in EdTech organisations have reported earning 2x more than their offline counterparts. This is because there is no limit placed on the number of enrolments per batch. At the same time, the students get the required 1-on-1 attention in the comfort of their room, which they otherwise won’t get in a crowded classroom setup. Satisfied educators will end up teaching the subject with passion and make the learning process interesting and innovative for students. Blended online mentorship programmes Students don’t have to spend money on transport, lodging, food and expenses if they decide to take the online route for exams like IIT-JEE, NEET-UG, GATE or UPSC-CSE. Nor do they have to mull over shifting base. Due to the availability of recorded lectures, students can enjoy a certain level of flexibility in their schedules, which is otherwise absent in the offline mode. Those who are preparing for competitive exams can do so at their own pace and gain access to their test performances vis-a-vis other students through quantitative data analysis. Online mentorship programs will be a popular demand in offline institutes due to the prospect of the one-on-one learning experience. High brand awareness that traditional players banked on will no longer serve as a strong competitive advantage. Hence, if not at the high school level, from the graduation level onwards, and in the competitive exams space, the outlook for online education in 2022 looks quite strong. Future Prospects BIBLIOGRAPHY 1. https://www.futurelearn.com/info/blog/latest-EdTech-developments 2. https://www.investopedia.com/terms/e/EdTech.asp 3. https://www.indiainfoline.com/article/general-editors-choice/impact-of-covid19-on-EdTech-and-learning-platforms-in-india-120092200276_1.html#:~:text=Impact%20of%20COVID%2D19%20on,billion%20dollar%20industry%20by%202021 4. https://www.weforum.org/agenda/2020/04/coronavirus-education-global-covid19-online-digital-learning/ 5. https://www.indiatoday.in/education-today/featurephilia/story/year-ender-2021-how-covid-19-pandemic-enabled-EdTech-to-become-leading-sector-for-growth-1891605-2021-12-24 6. https://www.ibef.org/blogs/india-to-become-the-EdTech-capital-of-the-world 7. https://thestartuplab.in/future-of-EdTech-india-factors-driving-the-growth-of-EdTech-industry-in-india/ 8. https://www.livemint.com/ 9. https://www.bairesdev.com/industries/EdTech-classroom-benefits/ 10. https://wiki.uiowa.edu/display/EdTech/Disadvantages 11. https://www.indiatoday.in/education-today/featurephilia/story/teachers-are-making-a-career-switch-from-schools-to-edtech-startups-after-the-pandemic-1882493-2021-11-30 12. https://devicecycles.com/wp-content/uploads/2019/05/Device-Cycles-SB_How-EdTech-makes-an-impact-in-education-_03-19-2019-002.pdf 13. https://indianexpress.com/article/education/education-outlook-2022-future-of-EdTech-sector-digital-learning-in-2022-and-beyond-7699508/ 14. https://in.linkedin.com/company/unacademy 15. https://eruditus.com/about-us/ Previous Next

  • Terms and Conditions | Podar Eduspace

    Terms and Conditions OVERVIEW ​ This website is operated by Podar Eduspace Tech Pvt Ltd. Throughout the site, the terms “we”, “us” and “our” refer to Podar Eduspace Tech Pvt Ltd. We offers this website, including all information, tools and services available from this site to you, the user, conditioned upon your acceptance of all terms, conditions, policies and notices stated here. By visiting our site and/ or purchasing something from us, you engage in our “Service” and agree to be bound by the following terms and conditions (“Terms of Service”, “Terms”), including those additional terms and conditions and policies referenced herein and/or available by hyperlink. These Terms of Service apply to all users of the site, including without limitation users who are browsers, vendors, customers, merchants, and/ or contributors of content. Please read these Terms of Service carefully before accessing or using our website. By accessing or using any part of the site, you agree to be bound by these Terms of Service. If you do not agree to all the terms and conditions of this agreement, then you may not access the website or use any services. If these Terms of Service are considered an offer, acceptance is expressly limited to these Terms of Service. Any new features or tools which are added to the current website shall also be subject to the Terms of Service. You can review the most current version of the Terms of Service at any time on this page. We reserve the right to update, change or replace any part of these Terms of Service by posting updates and/or changes to our website. It is your responsibility to check this page periodically for changes. Your continued use of or access to the website following the posting of any changes constitutes acceptance of those changes. SECTION 1 - ONLINE REGISTRATION/PURCHASE TERMS By agreeing to these Terms of Service, you represent that you are at least the age of majority in your state or province of residence, or that you are the age of majority in your state or province of residence and you have given us your consent to allow any of your minor dependents to use this site. You may not use our products for any illegal or unauthorized purpose nor may you, in the use of the Service, violate any laws in your jurisdiction (including but not limited to copyright laws). You must not transmit any worms or viruses or any code of a destructive nature. A breach or violation of any of the Terms will result in an immediate termination of your Services. SECTION 2 - GENERAL CONDITIONS ​ We reserve the right to refuse service to anyone for any reason at any time. You understand that your content (not including credit card information), may be transferred unencrypted and involve (a) transmissions over various networks; and (b) changes to conform and adapt to technical requirements of connecting networks or devices. Credit card information is always encrypted during transfer over networks. You agree not to reproduce, duplicate, copy, sell, resell or exploit any portion of the Service, use of the Service, or access to the Service or any contact on the website through which the service is provided, without express written permission by us. The headings used in this agreement are included for convenience only and will not limit or otherwise affect these Terms. SECTION 3 - ACCURACY, COMPLETENESS AND TIMELINESS OF INFORMATION ​ We are not responsible if information made available on this site is not accurate, complete or current. The material on this site is provided for general information only and should not be relied upon or used as the sole basis for making decisions without consulting primary, more accurate, more complete or more timely sources of information. Any reliance on the material on this site is at your own risk. This site may contain certain historical information. Historical information, necessarily, is not current and is provided for your reference only. We reserve the right to modify the contents of this site at any time, but we have no obligation to update any information on our site. You agree that it is your responsibility to monitor changes to our site. ​ SECTION 4 - MODIFICATIONS TO THE SERVICE AND PRICES Prices for our products are subject to change without notice. We reserve the right at any time to modify or discontinue the Service (or any part or content thereof) without notice at any time. We shall not be liable to you or to any third-party for any modification, price change, suspension or discontinuance of the Service. SECTION 5 - PRODUCTS OR SERVICES Certain products (Online Courses) or services may be available exclusively online through the website. These products or services may have limited quantities and are subject to cancellation and/or refund only according to our Refund Policy. We have made every effort to display as accurately as possible the details of the Online courses. You are free to connect with us in case of any query/clarification. We reserve the right, but are not obligated, to limit the sales of our products or Services to any person, geographic region or jurisdiction. We may exercise this right on a case-by-case basis. We reserve the right to limit the quantities of any products or services that we offer. All descriptions of products or product pricing are subject to change at anytime without notice, at the sole discretion of us. 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Any use by you of optional tools offered through the site is entirely at your own risk and discretion and you should ensure that you are familiar with and approve of the terms on which tools are provided by the relevant third-party provider(s). We may also, in the future, offer new services and/or features through the website (including, the release of new tools and resources). Such new features and/or services shall also be subject to these Terms of Service. SECTION 8 - THIRD-PARTY LINKS ​ Certain content, products and services available via our Service may include materials from third-parties. Third-party links on this site may direct you to third-party websites that are not affiliated with us. We are not responsible for examining or evaluating the content or accuracy and we do not warrant and will not have any liability or responsibility for any third-party materials or websites, or for any other materials, products, or services of third-parties. We are not liable for any harm or damages related to the purchase or use of goods, services, resources, content, or any other transactions made in connection with any third-party websites. Please review carefully the third-party's policies and practices and make sure you understand them before you engage in any transaction. Complaints, claims, concerns, or questions regarding third-party products should be directed to the third-party. SECTION 9 - USER COMMENTS, FEEDBACK AND OTHER SUBMISSIONS ​ If, at our request, you send certain specific submissions (for example contest entries) or without a request from us you send creative ideas, suggestions, proposals, plans, or other materials, whether online, by email, by postal mail, or otherwise (collectively, 'comments'), you agree that we may, at any time, without restriction, edit, copy, publish, distribute, translate and otherwise use in any medium any comments that you forward to us. 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SECTION 12 - PROHIBITED USES ​ In addition to other prohibitions as set forth in the Terms of Service, you are prohibited from using the site or its content: (a) for any unlawful purpose; (b) to solicit others to perform or participate in any unlawful acts; (c) to violate any international, federal, provincial or state regulations, rules, laws, or local ordinances; (d) to infringe upon or violate our intellectual property rights or the intellectual property rights of others; (e) to harass, abuse, insult, harm, defame, slander, disparage, intimidate, or discriminate based on gender, sexual orientation, religion, ethnicity, race, age, national origin, or disability; (f) to submit false or misleading information; (g) to upload or transmit viruses or any other type of malicious code that will or may be used in any way that will affect the functionality or operation of the Service or of any related website, other websites, or the Internet; (h) to collect or track the personal information of others; (i) to spam, phish, pharm, pretext, spider, crawl, or scrape; (j) for any obscene or immoral purpose; or (k) to interfere with or circumvent the security features of the Service or any related website, other websites, or the Internet. We reserve the right to terminate your use of the Service or any related website for violating any of the prohibited uses. SECTION 13 - DISCLAIMER OF WARRANTIES; LIMITATION OF LIABILITY ​ We do not guarantee, represent or warrant that your use of our service will be uninterrupted, timely, secure or error-free. We do not warrant that the results that may be obtained from the use of the service will be accurate or reliable. You agree that from time to time we may remove the service for indefinite periods of time or cancel the service at any time, without notice to you. You expressly agree that your use of, or inability to use, the service is at your sole risk. The service and all products and services delivered to you through the service are (except as expressly stated by us) provided 'as is' and 'as available' for your use, without any representation, warranties or conditions of any kind, either express or implied, including all implied warranties or conditions of merchantability, merchantable quality, fitness for a particular purpose, durability, title, and non-infringement. In no case shall Podar Eduspace Tech Pvt Ltd, our directors, officers, employees, affiliates, agents, contractors, interns, suppliers, service providers or licensors be liable for any injury, loss, claim, or any direct, indirect, incidental, punitive, special, or consequential damages of any kind, including, without limitation lost profits, lost revenue, lost savings, loss of data, replacement costs, or any similar damages, whether based in contract, tort (including negligence), strict liability or otherwise, arising from your use of any of the service or any products procured using the service, or for any other claim related in any way to your use of the service or any product, including, but not limited to, any errors or omissions in any content, or any loss or damage of any kind incurred as a result of the use of the service or any content (or product) posted, transmitted, or otherwise made available via the service, even if advised of their possibility. Because some states or jurisdictions do not allow the exclusion or the limitation of liability for consequential or incidental damages, in such states or jurisdictions, our liability shall be limited to the maximum extent permitted by law. SECTION 14 - INDEMNIFICATION ​ You agree to indemnify, defend and hold harmless Podar Eduspace Tech Pvt Ltd and our parent, subsidiaries, affiliates, partners, officers, directors, agents, contractors, licensors, service providers, subcontractors, suppliers, interns and employees, harmless from any claim or demand, including reasonable attorneys’ fees, made by any third-party due to or arising out of your breach of these Terms of Service or the documents they incorporate by reference, or your violation of any law or the rights of a third-party. SECTION 15 - SEVERABILITY ​ In the event that any provision of these Terms of Service is determined to be unlawful, void or unenforceable, such provision shall nonetheless be enforceable to the fullest extent permitted by applicable law, and the unenforceable portion shall be deemed to be severed from these Terms of Service, such determination shall not affect the validity and enforceability of any other remaining provisions. SECTION 16 - TERMINATION ​ The obligations and liabilities of the parties incurred prior to the termination date shall survive the termination of this agreement for all purposes. These Terms of Service are effective unless and until terminated by either you or us. You may terminate these Terms of Service at any time by notifying us that you no longer wish to use our Services, or when you cease using our site. If in our sole judgment you fail, or we suspect that you have failed, to comply with any term or provision of these Terms of Service, we also may terminate this agreement at any time without notice and you will remain liable for all amounts due up to and including the date of termination; and/or accordingly may deny you access to our Services (or any part thereof). ​ SECTION 17 - ENTIRE AGREEMENT ​ The failure of us to exercise or enforce any right or provision of these Terms of Service shall not constitute a waiver of such right or provision. These Terms of Service and any policies or operating rules posted by us on this site or in respect to The Service constitutes the entire agreement and understanding between you and us and govern your use of the Service, superseding any prior or contemporaneous agreements, communications and proposals, whether oral or written, between you and us (including, but not limited to, any prior versions of the Terms of Service). Any ambiguities in the interpretation of these Terms of Service shall not be construed against the drafting party. SECTION 18 - GOVERNING LAW ​ These Terms of Service and any separate agreements whereby we provide you Services shall be governed by and construed in accordance with the laws of India and jurisdiction of Jaipur, Rajasthan SECTION 19 - CHANGES TO TERMS OF SERVICE ​ You can review the most current version of the Terms of Service at any time at this page. We reserve the right, at our sole discretion, to update, change or replace any part of these Terms of Service by posting updates and changes to our website. It is your responsibility to check our website periodically for changes. Your continued use of or access to our website or the Service following the posting of any changes to these Terms of Service constitutes acceptance of those changes. SECTION 20 - CONTACT INFORMATION ​ Questions about the Terms of Service sh ould be sent to us at contact@podaredusp ace.org ​ Privacy Policy OVERVIEW ​ This Privacy Policy applies to all of the products, services and websites offered by us. Sometimes, we may post product specific privacy notices or Help Centre materials to explain our products in more detail. Any i nformation collected is for our use only. If you have any questions about this Privacy Policy, please feel free to contact us through our website or write to us at contact@podareduspace.org . ​ Changes to our Privacy Policy ​ We reserve the entire right to modify/amend/remove this privacy statement anytime and without any reason. Nothing contained herein creates or is intended to create a contract/agreement between Podar Eduspace Tech and any user visiting our website or providing identifying information of any kind. ​ DND Policy ​ If you wish to stop any further sms/email alerts/contacts from our side, all you need to do is to send an email:-contact@podareduspace.org with your mobile numbers and you will be excluded from the alerts list. ​ Refund and Cancellation Process ​ If the Customer leaves any of the programs by us before they complete their service period, there shall be no entitlement to a refund of paid service fees. Refunds, if applicable, at the discretion of the Management, will only be made to the debit/credit card used for the original transaction. For the avoidance of doubt nothing in this Policy shall require Podar Eduspace Tech to refund the Fees (or part thereof) unless such Fees (or part thereof) have previously been paid. ​ Questions sh ould be sent to us at contact@podaredusp ace.org ​ ​ ​ ​ ​

  • Podar Eduspace | About Us

    Acerca de About Podar Eduspace Podar Eduspace is the educational pillar of Podar Enterprise focusing on student programmes ranging from research, volunteering, skill development & advisory to educational institutes. It also marks our foray into EdTech and leverages the online medium to reach people in India, and worldwide. Our offerings seek to equip our students with practical knowledge and valuable skills to combat the challenges of the 21st century. The WorkEx Bootcamp (launched by Podar Eduspace) is a programme that integrates Harvard Business School Online, and Podar Enterprise courses to inculcate interdisciplinary skills to boost employability and knowledge. Explore our courses here . Students have a chance to choose from internship opportunities and work with top industry professionals and fast-track their employability. Upskill with these internships! Put the skills learnt to the test. Podar Eduspace offers multiple competitions to challenge yourself and join a global community of like-minded youth and professionals. Check out our past and upcoming competitions. Podar Eduspace is now expanding its footprint to the skilling ecosystem of India. As part of the Podar legacy, we now join hands with the Government of India to conduct mass upskilling in remote, rural and urban regions across India. Learn more about our initiatives here . Our Vision Supercharge India’s employability by upskilling the unemployed Relevance We aspire to reduce unemployment by creating a knowledge ecosystem where students and young professionals can upskill themselves to stay relevant in this ever-changing job market. Gap Our education system is mainly based on theoretical knowledge rather than on-field experience. This has led to over 70% of graduates lacking employable skills. We believe this employability gap is caused by a lack of internship experience and job-specific training. Solution Our programmes fill this gap by providing students with opportunities to work at top-tier companies and combine this with courses following a theoretical yet relevant curriculum that supercharge our students’ employability.

  • Digital Communications by Yash Vadhar | Podar Eduspace

    < Back Digital Communications by Yash Vadhar The marketing aspect of a business that exits in order to address people’s needs and wants by promoting certain products or even a business for that matter. Whilst all that even in current times stays to be true, there are advancements and developments that have now led to the innovation of a new type of marketing, known as Digital Age Marketing. Introduction The marketing aspect of a business that exits in order to address people’s needs and wants by promoting certain products or even a business for that matter. This is vital in a business as it is what brings them the customers that would be willing to buy their goods/buy their services. The business focuses on marketing based on the 7P’s of Marketing that the follow and believe in, which are: Product, Place, Price, Promotion, People, Process, and Physical evidence. Whilst all that even in current times stays to be true, there are advancements and developments that have now led to the innovation of a new type of marketing, known as Digital age marketing, it refers to marketing, although via the medium of internet-connected/ modern devices; such as Email marketing, social media marketing, Webpage advertising. Analysis and Discussion This new age marketing making use of technology and digital platforms allows the business to reach a wider audience and acts as an advantage for them, as it would mean more potential future customers and consumers. Some of the examples mentioned above such as Email Marketing, Social Media Marketing and Webpage Marketing hold and target a certain niche for themselves and hold different meaning. Email marketing refers to the sending of messages that are promotional in nature and that directly reach to a persons email address. This technique acts effective, as it allows the business to be able to directly get in touch with the customers and their possible potential audience, whilst they get to personalize the message according to their liking in order to attract their audience. Social Media Marketing on the other hand refers to marketing via the adaptation of social media platforms such as Instagram and Facebook; this helps in promoting of the businesses products (goods or/and services) in an effective fashion as it allows businesses to directly interact with their audience and the customers to interact with the business as well [6] . This method can be proven effective, as with the help of the algorithm of such social media platforms, the advertisement of the business’ products would be provided to those with similar interests and likings, making it perfect for the business to choose, as they would be directly addressing their desired target audience [7] . Finally, Webpage advertising is thew marketing of a business’s products via the medium of certain websites and this is a great method of advertising as well, as it works in a similar fashion to that of social media marketing with the algorithm of suggesting the products of the business based on the users liking, making it apt for the business as they would be able to touch base with their target audience [8] . Advantages and Disadvantages of the different marketing techniques: Email Marketing: Advantages: · They tend to be inexpensive · Easy to scale and allows easy analysis for analysing experts · High Return on Investments are possible · Environmentally friendly Disadvantages: · Emails lack the personal touch needed to promote and market a product · Might be counted as a SPAM mail · Time-consuming · Delivery issues Social Media Marketing: Advantages: · Low cost of investment · Wide range of audience · Helps businesses in monitoring feedback · High possible rate of growth Disadvantages: · Risk of negative publicity · Long time for Return on Investment · Can be very time-consuming · Difficulty in analysing Webpage Marketing: Advantages: · Onetime major setup cost · Easy to measure and analyse · Large audience that the business can target · Marketing on Webpages can be done in multiple ways to attain audience Disadvantages: · Onetime setup cost can be very expensive to make a good website to attract customers · Can be hard to gain the trust of potential audience · Results can be very time-consuming · Lack of personal interaction with customers Use of AI and data analytics in the digital age marketing In current times, Artificial Intelligence (AI) and Data Analysis play a crucial role in digital age marketing as they allow marketers to make better decisions and allow them to make amends and act accordingly to create a better experience for their existing as well as potential audience. Some reasons as to why AI and Data Analytics is used in digital age marketing are that Data Analytics aid marketers to do segmentation, which is splitting up their customer base into groups of people according to their age, gender, ethnic and religious groups, interests, and other factors, this allows the business to focus on one segment of their customer base at a time, providing them a more personalised and a better experience. Another reason why AI and Data Analysis is important is that Data analysers with the help of the data of their segment and other factors can with the help of AI platforms create a more personalised experience and hence send out personalised product recommendations, personalised social media ads for example and also send out personalised emails regarding their products. Lastly AI and Data analysis can be used for future predictions and carry out sales forecasting methods and be prepared in terms of not only production of goods and services but also in terms of Marketing methods to adopt and apply in the future time period. Bibliography: · Paul Hoang 5th Edition Business Management Textbook · https://kajabi.com/blog/digital-marketing#:~:text=Digital%20marketing%20is%20any%20marketing,marketing%20are%20just%20a%20few . · https://rockcontent.com/blog/what-is-digital-advertising/ · https://mailchimp.com/marketing-glossary/email-marketing/#:~:text=Email%20marketing%20is%20a%20form,also%20be%20anything%20in%20between . · https://www.investopedia.com/terms/s/social-media-marketing-smm.asp · https://www.brafton.com/blog/distribution/website-marketing-the-definitive-guide/ · https://www.sciencedirect.com/science/article/pii/S2666603022000136 · https://www.simplilearn.com/how-companies-are-using-artificial-intelligence-ai-in-digital-marketing-article · https://www.imd.org/research-knowledge/digital/articles/artificial-intelligence-real-world-impact-on-business-and-society/ · https://www.webdew.com/blog/data-analytics-in-digital-marketing · https://digitalcatalyst.in/blog/advantages-and-disadvantages-of-email-marketing/ · https://www.hitechwhizz.com/2021/08/5-advantages-and-disadvantages-drawbacks-benefits-of-websites.html · https://www.thecompanywarehouse.co.uk/blog/advantages-and-disadvantages-of-websites-for-business · https://www.nibusinessinfo.co.uk/content/advantages-and-disadvantages-email-marketing · https://www.savvysme.com.au/article/8-what-are-the-advantages-and-disadvantages-of-email-marketing · https://www.indeed.com/career-advice/career-development/pros-and-cons-of-social-media-marketing [1] Paul Hoang 5th Edition Business Management Textbook [2] Paul Hoang 5th Edition Business Management Textbook [3] https://kajabi.com/blog/digital-marketing#:~:text=Digital%20marketing%20is%20any%20marketing,marketing%20are%20just%20a%20few . [4] https://rockcontent.com/blog/what-is-digital-advertising/ [5] https://mailchimp.com/marketing-glossary/email-marketing/#:~:text=Email%20marketing%20is%20a%20form,also%20be%20anything%20in%20between . [6] https://www.investopedia.com/terms/s/social-media-marketing-smm.as [7] https://www.brafton.com/blog/distribution/website-marketing-the-definitive-guide/ Previous Next

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