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Day: August 21, 2023

Sharpen Leadership Abilities With These Top 10 Reads of All Time

Posted on by Imarticus Learning
Reading Time: 4 minutes

Enhanced leadership abilities enable individuals to effectively guide and motivate a team towards achieving shared objectives. Under the lack of strong leadership, businesses often suffer from an absence of direction, leading to stagnation. Surprisingly, 77% of businesses admit that leadership deficiency is one of the prominent issues in their workplaces. 

However, mastering leadership abilities is no easy task.

global senior leadership management program

To bolster these essential skills, leadership books serve as valuable resources, providing insights into leadership abilities, competencies, and best practices. By delving into various leadership styles, these books offer guidance on effectively steering a team towards common goals. 

If you’re looking to enhance your leadership capabilities, let’s explore the top 10 reads of all time in this field, which will undoubtedly sharpen your leadership acumen.

1) The Art of Possibility, by Rosamund Stone Zander and Benjamin Zander

The Art of Possibility imparts readers with ways to uniquely think about various possibilities to solve an issue. It covers 12 practices that help readers explore new perspectives of thought as well as self-image. Thoroughly reading this book can make you an insightful and effective leader since respecting diverse perspectives in a workplace is what makes a leader just and aligned to different viewpoints towards better decision-making. 

2) Immunity to Change, by Robert Kegan and Lisa Laskow Lahey

This book provides a unique approach that can help you come out from your rudimentary approach to leading a team. It explains how to comprehend goals and lead the team toward goal fulfilment. Consequently, you can come up with effective solutions. Moreover, the book helps you pinpoint and uproot your own immunities to positive change that can be brought to organisations.

3) GO: Put Your Strengths To Work, by Marcus Buckingham

Through this book, Buckingham conveys that your strengths are the ones that energise you, and weaknesses are the ones that ditch your energy. It imparts how to look past your acquired skills to build authentic leadership ability.

4) How to Win Friends and Influence People, by Dale Carnegie

Dale Carnegie conveys that success in dealing with people relies on a sympathetic comprehension of the other person’s perspective. The book explains that all successful leaders know that empathy is vital to team collaboration. The inability to connect deeply with your employees will make it challenging to obtain results from them.

5) Drive: The Surprising Truth About What Motivates Us, by Daniel H. Pink

The aforementioned book conveys that one of the greatest leadership challenges for many individuals is motivating their team and themselves. It profoundly explains the three major elements that retain motivation- purpose, autonomy, and mastery. Moreover, the book explores how to leverage these elements to obtain optimum results anywhere.

6) Primal Leadership, by Daniel Goleman, Richard Boyatzis, and Annie McKee

Primal Leadership focuses on the significance of emotionally intelligent leadership. It offers practical advice and explains why leaders must build empathy and self-awareness in this technologically advanced world.

7) Five Dysfunctions of a Team, by Patrick Lencioni

Reading this book helps you tackle the five common dysfunctions

  • Lack of trust
  • Fear of conflict
  • Inattention to results
  • Lack of commitment
  • Avoidance of accountability

The book conveys that if leaders thoroughly understand these five behaviours and ways to tackle them, they can effectively discern and correct them in the future.                     

8) The 21 Irrefutable Laws of Leadership: Follow Them and People Will Follow You by John C. Maxwell

The book provides guidelines for leaders to ascertain that employees realise a common goal and maximise influence. It outlines that leadership develops with daily efforts; it’s not a day’s work.  Moreover, the book offers subjective examples, encompassing all facets of leadership ranging from engaging and building teams to ensuring efficient results with effective planning.

9) Minority Leader: How to Build Your Future and Make Real Change by Stacey Abrams

The book provides guidance that helps you lead as an outsider. It imparts how to use your unique viewpoint and spirit to realise influential change even in a strict organisation. The book provides a step-by-step guide on how to find passion and develop leadership abilities.

 10) Leadership: In Turbulent Times by Doris Kearns Goodwin

The aforementioned book examines the obstacles confronted by four American presidents, namely Abraham Lincoln, Franklin Roosevelt, Theodore Roosevelt, and Lyndon Johnson. The author shares his analysis of the struggles, successes, and strategic approaches of each subject. The book further illustrates how each of these presidents transformed tragedy into success. Essentially, this book serves as a masterclass in crisis management and equips you with transformational leadership.

 Conclusion

Reading any of these books can equip you with demanding leadership skills. Along with this, you can pursue one of the suitable senior leadership courses.

If you’re aiming to explore your potential as an excellent leader, Global Senior Leadership Programme provided by Imarticus can be an ideal solution for you!

This IIM Lucknow senior leadership program is uniquely designed for career transition from business leaders to C Suite Executives. It is one of the best IIM leadership courses since it offers comprehensive exposure that helps C-suite executives solve management problems through effective leadership.

What is the Impact of FinTech on the Future of Money

Posted on by Imarticus Learning
Reading Time: 4 minutes

Welcome, curious minds and financial adventurers, to a place where the present meets the future and money dances with technology! 

Prepare to expand your horizons, disconnect from the past, and plunge headfirst into a kaleidoscope of opportunities. Let’s explore the enormous influence of Fintech in banking and finance, where finance and technology walk hand in hand and carry us into a future with limitless possibilities. 

We’ll explore the mysteries of the future of finance with FinTech in this blog. So grab your virtual glasses, strap yourself in, and prepare for an incredible voyage that will change how you view your hard-earned money!

In what ways does FinTech improve financial inclusion?

Fintech, a technology-driven innovation in financial services, accelerated quickly, demonstrating its significance in preserving business as usual for financial services while abiding by social segregation policies. Customer-centric business models and the incorporation of cutting-edge technology are what are driving Fintech’s transformational influence on the Global Financial Ecosystems. 

The future of money and the role of financial technology

The benefits of FinTech for small businesses are numerous and revolutionary. FinTech solutions offer simplified and effective financial operations that save time and money by easing administrative responsibilities. Small companies may handle their money simply and securely with the help of user-friendly mobile banking applications and digital payment systems, freeing them up to concentrate on their core company activities.

Democratization of Financial Services: A Burst of FinTech Revolution!

The sweeping revolution of FinTech has utterly transformed the realm of financial services. In the bygone era of traditional banking, the doors were often closed for those who needed a pristine credit history or proximity to brick-and-mortar bank branches. But enter FinTech, the vanguard of change, and witness the glorious metamorphosis!

Behold the advent of online banking, the awe-inspiring rise of peer-to-peer lending, and the majestic flourish of mobile payment platforms, bestowing the keys to financial emancipation upon a broader audience. 

Enhanced Convenience and Accessibility: A Symphony of Financial Innovation

Perchance, has there ever been a greater symphony of convenience than the FinTech concerto? Its harmonious composition of mobile banking apps, digital wallets, and contactless payments has orchestrated a symphony reverberating through the ages. We no longer bear the burden of physical cash, nor must we embark on pilgrimages to bank branches for every fiscal endeavor. 

FinTech has blessed us with the divine gift of managing our finances from the cozy sanctum of our smartphones! This ballet of enhanced accessibility and simplicity has metamorphosed the essence of our daily interaction with money.

Financial Inclusion and Empowerment: A Renaissance of Liberation

In the annals of history, one shall find a few chapters as liberating as the FinTech renaissance! With grace and kindness, it extends its hand to the unbanked and underbanked, welcoming them into the embrace of credit, savings, and insurance products. 

Innovation in Payments: A Maverick’s Waltz

Dare you not ignore the daring mavericks of FinTech who challenge the traditional payment order with brazen innovation! Cryptocurrencies, the elusive sirens of the digital realm, dance with blockchain technology and digital currencies in a waltz that stuns the masses. 

In their wake, they leave the relics of traditional payment systems, replaced by swifter, more secure, and borderless transactions. Across the globe, FinTech’s enchantment enables seamless cross-border payments, unraveling the complexities and slaying the dragons of international transfers!

Data-Driven Personalization: An Eloquent Ode to Individuality

The FinTech maestros are no strangers to the grand tapestry of data. With the prowess of masters, they weave the threads of consumer behavior and preferences into a mesmerizing tapestry of personalization. FinTech has redefined the art of delivering financial counsel, firmly placing the reins of control in every consumer’s hands!

Automation and Artificial Intelligence: A Marvelous Symphony of Progress

Amidst the orchestra of FinTech, automation and artificial intelligence strike a chord like never before! Witness the marvel of robo-advisors, virtuosos of investment recommendations, guided by the celestial algorithms and the echoes of historical market data. 

Gone are the days of traditional human financial advisors, for the dawn of a new era has arrived. This epoch of automation trims costs and unfurls the curtain of financial advice to embrace a wider audience, beckoning all with open arms!

Security and Fraud Prevention: A Fortified Citadel of Trust

As the great citadel of FinTech arises, it stands as an impregnable fortress, fortified with the latest innovations against the perils of cyber threats and fraud. Biometric authentication, the guardian of truth, joins forces with two-factor authentication, a stalwart sentinel, and advanced encryption techniques, the mightiest bulwark. 

Changing Landscape of Lending: A Paradigm-Shift of Destiny

Peer-to-peer lending platforms and online loan marketplaces rise like resplendent phoenixes, connecting borrowers directly with lenders, severing the chains that once bound them to traditional banking institutions. 

A streamlined application process, swift approval times, and fair winds now usher in a new era of efficient borrowing for individuals and businesses alike!

Financial Education and Awareness: An Odyssey of Enlightenment

With FinTech as their compass, people embark on a journey of financial enlightenment! In the halls of FinTech academies, knowledge flourishes like a timeless library, brimming with resources and tools to educate the masses on the arts of financial literacy, investment strategies, and the wisdom of responsible money management. 

This heightened awareness guides individuals to make informed decisions about their finances, painting a canvas of responsible financial behavior across the ages!

Conclusion: A FinTech Saga for the Ages

The future of money lies enthralled within the epic FinTech saga. As the financial cosmos continues its ever-changing dance, we witness the relentless march of disruption, the symphony of convenience, and the crescendo of financial inclusion. 

FinTech’s impact on the future of money is an awe-inspiring testament to how technology, like a benevolent deity, empowers individuals, transforms financial services, and opens the gates of prosperity to all. A career in Fintech offers a dynamic and innovative path in finance and technology.

Imarticus Learning provides future-focused specialized programs, allowing you to obtain a competitive edge and future-proof your job in the quickly developing FinTech sector.

These ground-breaking courses provide an industry-aligned curriculum by thoroughly studying important industrial issues and practical exposure to cutting-edge technologies like Cloud Computing and Cybersecurity.

Embrace these winds of change, keep pace with the latest FinTech symphonies, and you shall find the power to embrace the digital financial revolution with open arms and hearts!

Pricing Strategies and Decisions: What is Dynamic Adaptive Pricing?

Posted on by Imarticus Learning
Reading Time: 4 minutes

The COVID-19 pandemic has disrupted the global economy and created a highly volatile environment where the revenues of some industries are declining, and surging for others. In such a situation, businesses are having a hard time keeping a tab on costs and their capacity to cope with fluctuating market demands.

It is here that dynamic pricing strategy becomes relevant, because it makes use of multiple price tabs for a product, depending upon a number of factors, but mostly supply and demand. In this article, we will discuss more about dynamic pricing, its types and its implementation in industries. We will also talk about how you can master dynamic pricing and become a Chief Business Officer in a reputed firm.

What is Dynamic Adaptive Pricing?

As mentioned above, dynamic pricing is flexible and is set according to the demands of the market and other crucial information about consumers. On the other hand, adaptive pricing is about adjusting the price to meet certain demands in order to make a profit even at the time of less demand.

While the definitions might seem largely similar, the difference lies in the fact that adaptive pricing is broader in scope and the fixed pricing may change only at certain times as opposed to dynamic pricing where the pricings can change any number of times, and are slightly volatile. Combining the two leads to dynamic adaptive pricing, that is, adjusting prices as flexibly as possible, to ensure maximum profit at all times.

Types of Dynamic Adaptive Pricing

The absence of legal implications surrounding dynamic adaptive pricing has led to multiple businesses adopting this pricing strategy, bringing out several varieties and methods of marking the prices. Some of these have been listed below:

●  Group-oriented Dynamic Adaptive Pricing

As the name itself indicates, this kind of pricing strategy is implemented differently for different groups, the differentiating factors being the nature of the device used, location, and demographic data. Some targeted demographic groups, such as public workers and senior citizens are also offered discounts on some products. Price sensitivity becomes a crucial factor here, and consequently, promotional offers are given based on price elasticity. For instance, the price of a commodity searched from an expensive smartphone at a high-end location will be marked at a much higher rate.

●      Time-based Dynamic Adaptive Pricing

Much wider in scope than group-based dynamic adaptive pricing, this pricing method increases or decreases in scope with respect to time and demand. In industries where the demand for a product or service fluctuates throughout the day, the prices can vary accordingly. However, the demand can be controlled by the companies by offering incentives to encourage interest in a product, such as lowering the cab fares for hire services at night or offering discounts on obsolete, or last-season stocks to clear them out.

●      Cost-plus Dynamic Adaptive Pricing

When a business adopts a cost-plus pricing method, it sells the commodity for a higher price than the original unit cost. One of the most common pricing strategies, it has been tried and tested and proven to be easily implemented and effective as well. One simply needs to add their desired profit margin to the cost price to determine the selling price in this method. Manufacturing industries heavily rely on cost-plus dynamic adaptive pricing because the cost for the produced goods usually has a fixed rate, making it easier for them to decide the revenue rate.

●      Competitor-based Dynamic Adaptive Pricing

In this kind of costing strategy, businesses mark the price of a product or service depending upon its competitive market value, that is, what the competitors are charging for the same product. Any kind of marketing competition can fall under the ambit of this dynamic adaptive pricing strategy, from product design to targeting niches with low competition.

●      Value-based Dynamic Adaptive Pricing

Also known as price elasticity, this pricing strategy depends upon the customer’s perception of the commodity’s worth. It can be called “customer-based pricing” as well because the final markup of the product or service is based on how much the target consumer base is willing to spend for the said product. It gives the seller an external perspective on the market and helps establish trust with customers through constant communication with them.

●      Price Skimming

Price skimming is a kind of dynamic adaptive pricing method that charges the highest price acceptable in the market, also known as “maximum product entry price”, and then gradually decreases the price over time. It is called skimming because in this strategy, the seller “skims” off the topmost market segment of the target customer base, meeting their requirements while also making a maximum profit in the very beginning. Once the highest strata of buyers have been secured, the company can now penetrate the lower rungs of the customer base, especially the ones looking for budget-friendly products.

●      Bundle Pricing

In the bundle pricing strategy, as the name suggests, the seller categorises the products into groups based on a specific factor, and sells the entire group for a fixed price. A very popular strategy for retail stores and e-commerce sites, bundle pricing not only offers a higher value for the price but also boosts the sales of the products.

●      Penetration Pricing

As the name suggests, this kind of dynamic adaptive pricing strategy is adopted by companies trying to enter highly competitive markets and gain a foothold there. It is primarily an acquisition strategy that companies use to lure customers away from their competitors by offering to sell at much lower than the usual market price, thus gaining a substantial market share.

Some Instances of Dynamic Adaptive Pricing

Ride-Sharing Services: In the app cab services, the prices might have a fixed rate, but they also vary according to weather and rush hours. Companies often make profits from these environmental conditions or special slots.

Flights: While flights usually have a few restricted price points, dynamic pricing strategy is adopted for flights booked at the last moment.

Hotels and Bed and Breakfasts(BnBs): More revenue is generated by the hospitality industry when they use dynamic adaptive pricing during busy seasons, especially during holidays and around events.

E-commerce shops: Many e-commerce companies spontaneously adjust their prices in order to gain an edge over their rivals, stay afloat during certain seasons, or respond to market rates. 

Conclusion

Learning how to accurately implement dynamic adaptive pricing is a major skill one has to master in order to become a Chief Business Officer (CBO). To get hands-on training in pricing strategies, and other such marketing and sales strategies, join Imarticus Learning’s Executive Management Programme in Sales and Marketing Leadership, offered in collaboration with the Indian Institute of Management, Lucknow.

This cutting-edge sales and marketing leadership program is known for its next-gen CBO-oriented framework, exclusive masterclasses and on-campus networking prospects. Sign up for the course by clicking on the link provided and achieve your dreams of being a CBO in only 11 months!

Importance of Organisational Behavior and Human Resources Management

Posted on by Imarticus Learning
Reading Time: 4 minutes

Organisational behaviour and human resources direction (HRM) play crucial roles in the success of any organisation. In today’s free enterprise, concern surround, companies recognise the significance of these two disciplines and their wallop on employees’ overall execution and productivity.

This article explores the grandness of organisational behaviour and HRM, their key concepts, the synergy between them, their applications in the business reality, challenges faced, and futurity trends. In the dynamical byplay landscape, organisations need to understand the intricacies of human behaviour within the workplace.

Organisational behaviour refers to the study of how individuals, groups, and structures interact and influence each other within an organisation. HRM, on the other hand, focuses on managing the people within an organisation to achieve strategic objectives. These two fields are intertwined, as effectual HRM practices rely on a deep apprehension of organisational behaviour.

Definition of Organisational Behaviour

Organisational behaviour encompasses a range of topics, including single behaviour, grouping behaviour, organisational culture, and leadership. It seeks to understand how individuals behave in the workplace, how groups form and interact, the wallop of organisational civilisation on employee behaviour, and the role of leaders in shaping organisational behaviour. By studying these aspects, organisations can gain insights into employee satisfaction, motivation, and execution.

Importance of Organisational Behaviour

Understanding organisational behaviour is crucial for several reasons. Firstly, it helps organisations create a prescribed work environment that fosters employee involution and satisfaction. By recognising single differences and promoting inclusivity, organisations can leverage diversity to aim for innovation and creativity. Secondly, studying aggroup behaviour enables companies to enhance team dynamics, quislingism, and problem-solving capabilities. 

Effective teamwork leads to higher productivity and breaks decision-making. Finally, organisational civilisation plays a life-sustaining role in defining employee behaviour and influencing their values, attitudes, and work ethics. A really warm and prescribed culture helps draw and keep top talent

The Role of Cloud Computing in Enhancing Organisational Behaviour and Human Resources Management

Cloud computing has emerged as a game-changer in the realm of organisational behaviour and human resources direction. By leveraging the force of the cloud, businesses can streamline their operations, optimise workforce direction, and improve employee coaction.

Cloud-based HR solutions enable seamless access to employee data, allowing HR professionals to make informed decisions and supply personalised support. Moreover, cloud-based platforms ease remote work, enabling employees to continue being connected and productive from anywhere. As organisations increasingly embrace cloud computing, its wallop on enhancing organisational behaviour and HR management continues to grow.

Key Concepts in Organisational Behaviour

Individual Behaviour

Individual behaviour focuses on understanding how employees’ personality traits, attitudes, motivation, and perceptions influence their behaviour in the workplace. By recognising individual differences and providing tailored support, organisations can maximise employee potential and job satisfaction.

Group Behaviour

Group behaviour explores the dynamics of teams and the impact of social interactions on performance. It involves studying factors such as group formation, communication patterns, conflict resolution, and decision-making processes. Organisations that effectively manage group behaviour can harness the collective intelligence and skills of their employees.

Organisational Culture

Organisational culture refers to the shared values, beliefs, and norms that shape behaviour within an organisation. It influences employee motivation, engagement, and commitment to organisational goals. A positive culture fosters a sense of belonging and encourages employees to give their best.

Leadership

Leadership is a critical factor in driving organisational behaviour. Effective leaders exalt and incite employees, create a vision for the organisation, and guide them towards achieving too common objectives. Leadership styles, such as transformational and retainer leadership, have an important wallop on employee performance and satisfaction.

The Role of Human Resources Management

HRM encompasses a chain of practices that aim to attract, acquire, and retain a very talented workforce. It involves very various functions, including recruitment and selection, training and development, performance management, and employee involution.

Recruitment and Selection

Recruitment and selection processes ensure that organisations hire individuals who possess the required skills, knowledge, and cultural fit. Strategic recruitment practices contribute to the organisation’s success by attracting top talent and promoting diversity.

Training and Development

Training and evolution programs raise employee skills, knowledge, and competencies. They equip employees with the really necessary tools to surpass in their roles and give to the organisation’s development. Continuous learning opportunities also improve employee participation and job satisfaction.

Performance Management

Performance management involves setting performance goals, providing feedback, and recognising and rewarding employee achievements. Effective performance management systems foster a culture of accountability, continuous improvement, and fair evaluation.

Employee Engagement

Employee engagement focuses on creating a positive work environment where employees feel valued, motivated, and committed. Engaged employees are more likely to go above and beyond their job requirements, resulting in improved productivity and customer satisfaction.

The Synergy between Organisational Behaviour and HRM

Organisational behaviour and HRM are interconnected disciplines. HRM practices should align with the principles and concepts of organisational behaviour to optimise employee performance. For example, understanding individual behaviour helps HR managers create personalised training and development programs. Knowledge of group behaviour enables effective team building and conflict resolution. Organisational culture influences HR policies and practices, shaping employee behaviour and attitudes.

Applications in the Business World

Organisational behaviour and HRM have extensive applications in the business world. Companies that prioritise these disciplines can enhance employee productivity, reduce turnover, and improve overall organisational performance. By fostering a positive work environment, organisations attract and retain top talent, resulting in a competitive edge. Effective HRM practices also contribute to the development of future leaders and succession planning.

Challenges and Strategies

Implementing organisational behaviour and HRM practices comes with challenges. Resistance to change, lack of employee buy-in, and limited resources can hinder successful implementation. To overcome these challenges, organisations should focus on effective communication, employee involvement, and continuous training. Adopting a data-driven approach and leveraging technology can also streamline HRM processes and enhance decision-making.

Future Trends in Organisational Behaviour and HRM

The field of organisational behaviour and HRM is evolving rapidly. Future trends include the integration of technology in HRM processes, increased focus on employee well-being and work-life balance, and the emergence of remote work arrangements. Organisations need to stay updated with these trends to remain competitive and attract top talent.

Conclusion

Organisational behaviour and HRM are critical aspects of managing employees in any organisation. By understanding individual and group behaviour, leveraging organisational culture, and implementing effective HRM practices, companies can create a positive work environment, maximise employee potential, and drive organisational success.

Embracing the synergy between these disciplines ensures that organisations stay competitive and adapt to the ever-changing business landscape.

If you’re interested in pursuing a career in Fintech, consider enrolling in Imarticus Learning’s PGDM In FinTech to gain the skills and knowledge needed to succeed in this exciting field.

Visit Imarticus Learning to learn more.

10 Must-Have Certifications for IT Professionals

Posted on by Imarticus Learning
Reading Time: 3 minutes

If you want to open the doors to new careers in the field of IT, having the correct qualifications is important. Tech certification for employees who are willing to advance their skills and knowledge is the gateway to entrance. Even if you are new or an IT expert, adding IT expert certifications will provide you with a badge for your knowledge and will make you shine in a crowded profession. Below given are the top 10 certifications for IT professionals.

  1. CompTIA A+ 

The CompTIA A+ certification is a good place to start in IT. It teaches basic hardware, as well as how to assist individuals with technical concerns and solve problems. This qualification is for people who wish to work at a service desk, support technology or mend things. Candidates must pass two tests for certification. One on mobile devices, networks, hardware and troubleshooting, and the other on installing operating systems, increasing security and troubleshooting software issues.

  1. GIAC Information Security Fundamentals (GISF)

The GISF certification provides a good basis for learning about cybersecurity, networking and other important issues. This certification is advised if you’re just starting to study cybersecurity. Also, if you are not in the IT industry and want to learn more about keeping things secure.

  1. Microsoft-certified Azure Solution Architect Expert

You can easily create cloud and hybrid solutions on Microsoft Azure if you have this certification. This indicates that you are knowledgeable about how to use tools like compute resources, networks, storage and monitoring and maintaining the security of systems. It is also advised that you have a solid understanding of DevOps, Azure management and creating things on Azure.

  1. Amazon Web Services (AWS) Cloud Practitioner

The IT industry has a significant demand for cloud computing and security. Globally, AWS is the best cloud computing provider. Gaining knowledge of AWS might help you stand out in this expanding industry. Thus, this certification introduces you to the fundamentals of AWS and is suitable for IT newbies.

  1. Cisco Certified Network Associate (CCNA)

The CCNA certification is a middle-level certificate that teaches you the fundamentals of IT networks. You will learn how to connect to networks, how data moves and what diverse things networks can perform.

  1. CompTIA Security+

The CompTIA Security+ certification enables you to study fundamental security concepts. It educates about information security, physical security and wireless network security.

  1. Google Cloud Digital Leader

Understanding Google’s cloud technology begins with obtaining this certification. Your understanding of the fundamental concepts of Google Cloud is tested on this certification exam. Even though some entry-level Google Cloud positions may require the more advanced Google Associate Cloud Engineer certification, concentrating on the topics included in the Cloud Digital Leader certification test will help you create a solid foundation.

  1. CompTIA IT Fundamentals (ITF+)

The ITF+ is a certification for beginners. It is for those who are unsure whether an IT career is right for them. However, CompTIA A+ may be a better option for you if you’re looking for a certification to get IT employment abilities.

  1. CompTIA Network+

The CompTIA Network+ is a starting point for learning about networks. Unlike CCNA, it doesn’t focus on specific devices. It’s a neutral certification. Compared to CCNA, Network+ is a more approachable option, making it the best choice for newcomers or people who think CCNA is too complex.

  1. Certified Ethical Hacker (CEH)

The EC-Council’s CEH certification demonstrates your ability to identify breaches of security in computer systems and prevent hacking. Ethical hackers are like good hackers. They employ comparable techniques and knowledge to malicious hackers, but their aim is to strengthen security and stave off further intrusions.

Key takeaway

In the dynamic landscape of IT, staying ahead is crucial, and tech certifications for employees play a pivotal role. Certifications for IT professionals not only validate your skills but also demonstrate your commitment to excellence. From foundational to expert certifications, each step signifies growth. To embark on this journey of professional enrichment, explore these certifications and more on the Imarticus Learning website.

7 Inspiring Reads to Become an Impactful Marketing Leader

Posted on by Imarticus Learning
Reading Time: 3 minutes

Reading can open up new avenues and foster growth and innovative thinking, especially for marketers set to create ripples in the marketing world.

Take up marketing leadership courses today to accelerate your marketing journey! We have curated a list of seven best-sellers that offer insight into the different marketing strategies exhibiting how the marketing industry works. Keep reading to learn more.

Epic Content Marketing: How to Tell a Different Story, Break Through the Clutter, and Win More Customers by Marketing Less by Joe Pulizzi

best sales and marketing course from iim lucknow

‘Epic Content Marketing’ talks about the most happening marketing trends of the time. Joe Pulizzi’s book shares some of the most talked-about marketing briefs in the industry. His main motives remain the same —tell others about being a successful content marketer, share practical tips, and initiate practical actions. The writer argues that the essence of marketing lies in applying strategies thoroughly, thereby transforming the current scenario.

Key Observations

  • Offers actionable strategies for attracting customers
  • Talks about a wide range of subjects ranging from blog posts to social media
  • Elaborates case studies and examples from successful brands

Permission Marketing: Turning Strangers Into Friends And Friends Into Customers by Seth Godin

Written by Seth Godin in 1999, this book remains a classic and highly sought-after guide for digital marketing. When looking for instant guidance on how to become a marketing leader, this is the bible. It explores building long-lasting relationships with customers by asking for their permission to sell products and services to them.

Key Observations

  • Modern ways of approaching clients
  • Focuses on earning the trust of the customers in retaining them
  • Mentions different marketing mediums like websites, and in-person interactions

Selling the Invisible: A Field Guide to Modern Marketing by Harry Beckwith

‘Selling the Invisible’ emphasises the popular marketing strategies in the service industry, ranging from emotional elements to more solid perspectives needed to sell a particular product. The book also offers practical tips on using invisible services to stand out.

Key Observations

  • Teaches a strong brand identity
  • Utilise storytelling to build an emotional connection with the client
  • Suggests introducing the value in the product apart from the benefits

Social Media ROI by Olivier Blanchard

Olivier Blanchard, an expert in social media return on investment (ROI), talks about the most sought-after aspects of social media marketing. Through his book, he carefully explains that ROI isn’t merely about financial returns but also about the value of social media activities. Blanchard maintains that one can achieve it by using the right metrics and aligning social media accordingly.

Key Observations

  • Measuring ROI is vital to any social media campaign
  • Social media and business objectives go hand-in-hand
  • All activities, including customer service, sales and strategies, work towards an ROI

The Anatomy of Buzz by Emanuel Rosen

‘The Anatomy of Buzz’ explains the benefits of buzz marketing in controlling successful marketing campaigns. One can become a marketing leader by exercising a few tenets in this book, like capturing customers’ attention through certain buzzwords. This word-of-mouth campaign works wonders when employed in a specific manner.

Key Observations

  • Real-life examples and case studies
  • Importance of influencers in enhancing buzzwords
  • Provides helpful strategies for businesses

Influence: The Psychology of Persuasion by Robert B. Cialdini

Cialdini’s book emphasises social media’s influence in building individual behaviour. He says social media significantly influences mass behaviour, compelling them to purchase a product or service. He also highlights six principles of persuasion, namely reciprocity, scarcity, authority, liking, consistency, and consensus, which play a vital role in persuading potential buyers.

Key Observations

  • Focuses on human behaviour and psychology behind purchasing activities
  • Offers insight into influencing people’s behaviour based on multiple principles
  • Highlights the strengths and weaknesses behind active persuasion

The Brand Flip by Marty Neumeier

In ‘The Brand Flip’, Neumeier discusses the changing dynamics of brand marketing and management. In the digital age, Neumeier says, the evolving dynamics result from the change in control and consistency, which are ever-changing. In saying so, Neumeier introduces the concept of “brand flip”, which brings forth several changes to the existing campaign.

Key Observations

  • Talks against traditional marketing campaigns and instilling modern approaches instead
  • Importance of being original and transparent in the modern era
  • Focuses on shifting power dynamics between companies and customers

Conclusion

With changing times, new techniques and tools evolve to influence a marketing campaign. These seven inspiring reads allow users to make informed decisions regarding their companies and services. From understanding customer behaviour to mastering flawless communication, these books cover every possible aspect of marketing.

Take digital marketing leadership courses to establish a successful sales and marketing career. If you’re looking for a more hands-on approach to marketing, enrol in the Executive Management Programme In Sales & Marketing Leadership by Imarticus. This programme will equip you with the latest developments in the marketing world and boost your learning experience. 

A Guide to Cost Accounting Methods and Techniques

Posted on by Imarticus Learning
Reading Time: 4 minutes

The process to determine a company’s total expenditure in production is cost accounting or costing. Costing is done by the company’s management internally. It supports several strategic decisions like short-term and long-term pricing of a product. 

Cost accounting is a process to assess or estimate the cost of a manufactured product that involves a series of processes and different types of input resources that are used in a business. Several types of cost accounting techniques are followed in a business based on the different accounting variables.

Cost accounting is one of the most preferred career options after BCom. The types of cost, important costing methods, and techniques of costing are discussed in this article.

Types of Costs

The different types of costs that businesses have to incur are as follows – 

Fixed cost 

Fixed expenses such as labour wages, rent of land etc. are the fixed costs in production. This cost has to be incurred by the producer irrespective of the level of output produced. 

Variable cost 

Expenses incurred in resources vary with the methodology as well as the level of production. These types of expenses are known as variable costs. 

Sunk cost 

The expenses that have already been incurred and are not recoverable in future are known as sunk costs.

Opportunity cost 

Opportunity cost in a business refers to the loss that the producer has to incur while choosing the production of one item over the other. 

Important Cost Accounting Methods

There are several processes for finding out the costs of different natures. The different methods of cost accounting are as follows –

Job costing 

This method is followed in those production units that generally do not produce similar products. Here, costing is job-based or lot-based depending on the number of orders executed.

Contract costing 

This method is followed for contracts, which are essentially large and complex jobs. 

Cost-plus costing

This method is followed where an agreed percentage is paid to the contractor over and above the actual cost incurred in a contract or project.

Batch costing 

This procedure is followed in companies with repetitive production of similar jobs. Production is arranged in batches to suit production convenience.

Process costing 

This method is followed where production is a function of several distinct processes. The cost is a summation of all these processes.

Operation costing

Mass or repetitive production with multiple processes results in stocking semi-finished products. In these cases, this method is followed. 

Single costing 

Manufacturers follow this process when they require to ascertain the cost of a single unit of product.

Operating costing

This method is followed to monitor service costs.

Departmental costing 

When the management wishes to ascertain the cost incurred by a specific department, it follows this method. 

Pricing Decisions

Cost accounting helps in pricing strategies. Short-term pricing generally considers the direct costs of production. However, long-term pricing always considers the indirect costs like the manufacturing and administrative overheads and depreciation over and above the direct costs of production. Thus, long-term price takes into account both fixed and variable cost components in a production process.   

Techniques of Cost Accounting

Different techniques are used to analyse and ascertain costs. They are as follows –

Historical costing 

This is the technique of recording and analysing costs when the process of production is fully or partially completed.

Standard costing 

Standard costing is an estimation of what a business owner is expected to spend for a specific business or production process. This offers a reference point to a new business and enables it to prepare its budget. 

Marginal costing 

Marginal costing or variable costing takes into account only the variable direct costs of producing a certain volume. This process does not consider the fixed costs of production. The purpose of this costing is to mitigate the difference between the total cost and the variable cost with the optimised volume of production.

Direct costing 

Direct costing methods also use only variable costs for accounting and are used to determine short-term pricing strategies.

Absorption costing 

This accounting method is also known as full costing since all costs whether direct or indirect, fixed or variable, are considered. 

Uniform costing 

The uniform costing technique is the latest and differs from all the other costing methods. It is a common undertaking of uniform costing principles between two or more large companies following the same nature of business. This costing principle occurs as a result of mutual agreement to bring national stability to the business and ensure profitability for all the companies.

Objectives of Cost Accounting

The overall goal of cost accounting is to benchmark processes for recording, batching, monitoring and budgeting expenses for major cost heads like production, service, overheads and salaries. The followings are the major objectives of cost accounting – 

To assess the cost of different cross-functional departments of a company, factory etc.

To find out the cost of a unit product for optimising production.

To locate the costs of different processes and other operations engaged in production.

To find out the cost of wastage of materials, idling or under-utilisation of plants and types of machinery.

To determine the cost of a service.

Control cost on raw materials, consumables and finished goods inventory.

Supports cost audit to prevent malpractice or error.

Helps management in pricing strategies, planning and other critical decision-making exercises.

Helps management to prepare budgets and declare incentive or bonus plans, based on the company savings.

To motivate departmental managers to engage in cost reduction programs.

Helps in profit maximising.

To equip management with prompt numerical analysis of all micro and macro functions of the company.

Conclusion

Cost accounting is one of the best career options after BCom because it offers various opportunities to candidates. The BCom from Rathinam College of Arts and Science offered by Imarticus will give prospective candidates a perfect start to their careers.

The duration of this course is 3 years. After completing BCom from Rathinam, candidates come across various placement opportunities. 

Visit the official site of Imarticus for more course-related details. 

Market Volatility and Risk Management Strategies

Posted on by Imarticus Learning
Reading Time: 4 minutes

The dynamism of the stock market is what attracts investors to it. On the other hand, this very dynamism also poses risks. Gains and losses are unavoidable aspects of the market index.  

While suffering losses is inevitable, it often compels even seasoned traders into what we call ‘panic trading’. This leads to dramatic price fluctuations in the market. Markets often fluctuate not for a serious reason but due to market volatility, which is discussed in this blog. 

Volatility refers to the movement of price within a specific period of time. Applying the right risk management, one can easily avoid any risks in the market that may arise due to market volatility and profit in long-term investment. Join an online capital market course to learn more about risk management. Read this blog to understand risk management and the strategies you can adopt to mitigate risks.

What is Market Volatility? 

When discussing market volatility and its effect on stocks, understanding it first is essential. Investors use the term to describe sharp market changes and previously unpredicted prices. A sudden fall or rise in prices can result from market volatility. If prices change too much within a short period of time, the market is deemed highly volatile. 

There are several factors behind a market becoming highly volatile. 

  1. Performance of the company
  2. Socio-Political factors 
  3. Industry-related factors 
  4. Economic factors

If you plan on long-term investment in the stock market, you must come to terms with market volatility and any kind of price fluctuations it may cost. But with the help of a few risk management strategies in place, you can avoid any big hit to your investment.

 What is Risk Management? 

High volatility does not always have to be negative, but more often than not, it may prove to be detrimental. Sometimes a volatile environment can cause some risks to your investment. Risk management minimises these threats as much as possible so they do not negatively impact your finances in the long run. 

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If considering a long-term investment in the stock market, you should always have some risk management strategies to act as a safety net for your money. That way, you can minimise any negative impact. 

Risk management strategies are essential even when the market is not volatile. These strategies help you create a safety net that ensures you do not suffer substantial financial loss. Diversifying your assets and sticking to your long-term plan can help you make a big profit in the long run. 

What are Some of the Best Risk Management Strategies Against Market Volatility? 

If you are thinking about investing but are scared of the risks associated with market volatility, here are some ways to minimise the volatility risk. 

  • Diversification 

The diversification of your portfolio is crucial when it comes to long-term investment. If you have many equities, you will be less likely to lose a lot of money in a volatile environment. Having most of your money tied to one place can be risky in the long run, as it will be impacted more severely during times of volatility. 

  • Don’t be emotional 

One of the main rules of investment is not being emotional about your money. Sometimes people take drastic decisions when they see their equities losing value. But you must remember that it is all a part of investing in the long run. Do not abandon your investment plans because of volatility, as these market ups and downs are all a part of the investment. 

  • Don’t abandon your plan 

Continuing the previous point, many people panic and abandon their investment plans once the market becomes unstable. Especially if you are just starting in this field, a sudden change in market value can be scary. Stay on your long-term plan. Talk to financial professionals about how to handle the situation and make changes in your plan if necessary. 

  • Balance the risks and rewards 

Allocating assets across different categories is vital. It is only the starting step of investing long-term. Balancing the risk and reward profile while allocating your assets will ensure your money is never too much at risk. Low-risk investments also have low-return. It is essential to balance your money while investing to have financial security even when the market is volatile. 

  • Use volatility 

And last but not least, use market volatility to your advantage. If you understand the inner workings of the market and the company stocks, you can buy cheaper stocks and sell them at a higher price, all thanks to market volatility. 

  • Do nothing 

Investment is more than just buying and selling. Sometimes it’s just about letting natural market phenomena run their course and do nothing. When the market is volatile, instead of panic buying or selling, choose to do nothing and have more faith in your long-term plan. 

Things to Remember While Investing

If you are beginning to invest in the stock market, always remember that there are no sure-fire ways of attaining success overnight. But some rules can help you make a respectable profit in the long run. 

  • Never follow the crowd. This almost always backfires as most people who invest do not really know a lot about investing. 
  • Always make informed decisions based on research and expert opinion. 
  • Lastly, only invest in businesses that you understand. Often people are influenced into investing in businesses they do not understand well. It can prove detrimental. You should invest in the businesses you understand to make educated decisions and keep your money safe. 

Conclusion 

Market volatility is a natural process, but it can be challenging if you are new to investing. Take the help of financial professionals while investing your money in stocks, study market patterns, learn about the 1% rule of investing, and stop-loss and take-profit points. Being educated is the key to managing your money best.

If you want to kickstart your career in finances and understand risk management better, then Imarticus Learning’s IIM Lucknow finance course is just what you need. This advanced management programme in financial services and capital markets teaches cutting-edge financial techniques with the help of immersive learning and a world-class faculty. 

Product Analytics: Unveiling Market Opportunities for Business Growth

Posted on by Imarticus Learning
Reading Time: 3 minutes

What does product analytics do?

In the ever-changing landscape of the business world, success and failure rely on understanding your market. It helps in spotting hidden chances for growth and various market opportunities. This is where product analytics comes into play.

It is a tool that has the potential to uncover market opportunities you might not have even thought about. In this article, we’ll explore how product analytics plays a crucial role in finding these golden opportunities. It also helps in propelling your business towards remarkable growth and success.

Think of product analytics as a magnifying glass that lets you look closely at your customer. It tells you about your customers’ behaviours, likes, dislikes and interactions. It examines the data related to your products or services, giving you insights that help you make smart business choices to improve what you offer. Product analytics also helps in meeting your customers’ specific needs.

Significance of effectively identifying market opportunities

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In a world that’s always changing, launching a product and hoping for the best is like sailing a ship without a map. Recognising market opportunities is what sets average businesses apart from industry leaders.

By identifying gaps in the market and understanding new trends, you gain an edge and the ability to adjust your products to match what customers want. Product analytics, armed with market insights, can guide you to these opportunities with precision.

Role of product analytics in identifying market opportunities

Imagine having a crystal ball that not only predicts where your business is headed but also reveals the best paths to reach your goals. That’s the power of product analytics. It acts as your digital compass, steering you towards untapped areas of success. It also helps in identifying the best market opportunities. Following are the various roles of product analytics:

Understanding your audience better: Product analytics lets you dive into your target audience’s thoughts. It uncovers what makes them decide, what bothers them and what they desire. With this information, you can create products that connect with them.

Predicting market demand patterns: Predicting when your product will be in high demand is a game-changer. Product analytics helps you know when this surge will happen. By spotting patterns, you can plan your production and marketing to handle these busy times with ease.

Personalising experiences: In a world where personal touch matters, product analytics helps you create customised experiences for your customers. By studying their behaviours, you can suggest products that match their tastes, making their shopping journey even better.

Staying ahead of rivals: Staying ahead of competitors means staying ahead of market trends. Product analytics keeps you updated on what’s working for your rivals and what’s not, helping you fine-tune your strategies and stand out.

Fostering innovation: Innovation is vital for business success. Product analytics helps you find areas for new ideas, whether it’s a fresh feature, a unique packaging idea or a whole new product line.

Pricing strategy optimisation: Setting the right price is crucial for your product’s success. Product analytics can reveal insights about your customers’ willingness to pay. This helps you optimise your pricing strategy and maximising profits.

Enhancing customer satisfaction: Happy customers are loyal customers. Product analytics can track customer satisfaction levels by analysing feedback and behaviour. This enables you to address issues promptly and improve overall customer experience.

Streamlining inventory management: Excess inventory can tie up resources and drain profits. Product analytics aids in optimising inventory levels by forecasting demand and identifying slow-moving items. This helps in preventing overstocking.

Targeted marketing campaigns: With product analytics, you can create laser-focused marketing campaigns. By understanding which products resonate with specific customer segments, you can tailor your messaging for maximum impact.

Embracing a bright future with Imarticus Learning

In a world of constant change and innovation, product analytics stands as a guiding light that reveals unexplored market opportunities. By understanding your audience, predicting demand and staying ahead of trends, you unleash your offerings’ true potential.

Speaking of potential, Imarticus Learning has a track record of nurturing aspiring professionals in core sectors like banking and finance, data science & analytics, digital marketing and more. We offer carefully crafted courses from respected universities and institutions around the world. These courses equip you with the skills and knowledge needed to conquer the ever-changing world of modern business.

As you set out to discover market opportunities and drive your business growth, remember that product analytics isn’t just a tool. It is a guiding star that illuminates the endless prospects of your market. It empowers you to shape a future that’s both exciting and rewarding.