Business Strategy e-Magazine by Bizemag Media

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The month of November 2021 – is marking new beginnings. We bring an amazing story of Jacqueline Brotherton, the power packed woman from Australia who wrote new ways and rules in the male dominated field of transport. Featured article – Robo revolution touches unique threat by AI developed and intruding many business aspects that can affect human daily life too.

growth. Wishing Happy Diwali – bringing new rays of light into everyone’s life and career !! Hoping that you will like the content and choice of topics in this issue. Please write your feedback and enquiry to

George Kemish brings insights into the required domain ex- contact@business-strategy.in pertise of HR professionals and Thank You business leaders. Dr. Vaneeta Aggarwal Dr. Neeta Pant explains the www.Lstrategyq.com strategy to tame one’s anger in www.business-strategy.in order to be successful as a family person and as a professional. I have penned an article on managing challenges faced by businesses in covid19 and how to grow online community for better outreach and business

Disclaimer - The Magazine producers and editors are not responsible for any views, opinions and information provided by the writers. The content produced here is copyright of Business strategy e-magazine and cannot be reproduced in part or full form without official approval. Any graphics depicted within the magazine are solely for symbolic representation and are taken from stock free options.

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First Asia Pacific Panel disccussions at the 2021 Women|Future Conference

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s a child I lived a nomadic life because of my father’s job, however as soon as I was old enough to go to school my older sister and myself were sent to boarding school to be educated by the nuns. My parents believed that we should have the best education that was available to us. By the time my younger siblings were school age, we had settled close to town and were able to attend school as day pupils. I graduated my primary school as Dux of the school and then attended the local high school. It was while attending the local high school that my parents purchased a business supplying the trucking industry. This is where my career really began, I worked part time in the business while attending school and when I finished high school I started working at a bank, while still working for my parents. After leaving the bank I worked in a fresh produce distribution centre and continued working for my parents. I then worked for my parents’ full time for a couple of years before leaving permanently to join the trucking industry full time. I went to work for livestock transport company in administration;

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over the next 17 years I took on various roles within the company, in operations, accounting, before moving up to general manager and director. During this time, I also studied accounting, served on the committee, and functioned as the secretariat and conference organiser for the Livestock Transporters Association of NSW. I was rewarded by this association in 1998 by being awarded Life Membership. I also worked part time for two fashion boutiques and modelled in their fashion shows to have variety in my life away from the trucking industry. I also found time to get married, to fulfil my passion for reading and to look after my pets. After the breakdown of my marriage, I worked in various roles across the eastern states of Australia at large and small trucking companies, at a feedlot and at a Kenworth dealership in the spare parts department. It was after I moved to Melbourne for the second time in 2005 and then commenced work for Oxford Cold Storage in 2007 that I had the time and encouragement to pursue my dream of advocating for my industry. I became Chair of the Refrigerat-

ed Warehouse and Transport Association transport subcommittee in 2009 to write the Chain of Responsibility Code of Practice for the Association. I also served on the Wyndham Industrial Liaison and Development Committee (WILD), a business lobbying group for my local area that had been lobbying for many years to have a dangerous local road upgraded. I eventually became Chair of this group, and with the help of our local council, was able to lobby the government for $53 million funding and had the road upgraded after a 20-year campaign. I joined the board of Transport Women Australia Limited (TWAL) in 2008 and served as Chair from 2009 to 2011 returning for a second term in November 2017. It has been as Chair

of Transport Women Australia Limited that I have been able to make the most impact on changing the industry, especially with diversity and inclusion. In 2018 we launched a joint venture with the Wodonga TAFE (Technical and Further Educational) and Volvo Group Australia for a Female Only Driver licencing course, called the Women Driving Transport Careers initiative. This enables women to get their driving licence and further instruction in load restraint, rules and regulations, timesheets, and other necessary duties so they enter the industry professionally trained and fully employed at the end of the course. We also held our successful triennial conference which led to our current mentoring programme Issue 16, October 2021 | CONTENTS

called the Creating Connections mentoring programme. Both programmes have been successful although COVID-19 has had an impact on the Women Driving Transport Careers initiative. 2018 also saw the consolidation of our relationship with Girl Guides Australia through various initiatives but especially through the International Jamboree held in Sydney when with the help of transport companies throughout Australia, we were able to distribute the Jamboree bag around Australia; we were also able to attend the Jamboree with a new Mercedes Benz truck, compliments of Daimler Truck and Bus, to introduce trucking to 1500 Girl Guides who attended the Jamboree. This was amazing experience and exchange of knowledge for the those in attendance and enjoyable one for both organisations. During 2018, I was recognised for my work by being honoured at the Women in Industry Awards by winning the Excellence in Road Transport Award and again with the Inaugural Female Leadership in Transport Award at the prestigious Australian Freight Industry Awards. 12 Issue 16, October 2021 | CONTENTS

In 2019 we launched our Learning Initiatives Breakfasts Series and celebrated the TWAL 20-year anniversary with a gala dinner for two hundred people, established the Trish Pickering Memorial Award for the outstanding contribution to the transport industry over a prolonged period by a woman. This was made possible with the support of our wonderful sponsor, Wes Pickering in memory of his late wife. However, my proudest moment was to establish with Daimler Truck and Bus Australia Pacific, a scholarship programme called Driving the Difference. The scholarships are available for women in or wishing to enter the transport and logistics industry. These scholarships are awarded each year to women who want to advance their careers or to seek

certification to enter the transport and logistics industry. In 2019, I was awarded the Businessperson of the Year by Wyndham City Council for my work in the local business community, especially for the local transport industry and my lobbying as Chair of the WILD committee. One new project we have just commenced with Inspiring Women Australia is participating in career days and expos to talk about the trucking industry; to highlight amazing opportunities to young women in years 10 through 12, listening to the students, many of them have thought of careers in construc-

tion and other trades such as electricians, engineering but not one I have spoken to had considered transport, to my disappointment. However, they did have big dreams and I can only encourage anyone to follow their dreams. We are also launching a second phase of our research – Women Working in Transport: Part II. This will commence in November 2021. I have also been able to travel overseas to investigate new safety practices, to speak at conferences both in Australia and internationally about subjects so diverse as harassment in the workplace, chain of responsibility, diversi-

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ty and inclusion, and automated guarded vehicles to name just some of the topics, I have covered. I have attended truck shows in the United States and we take the TWAL message to truck shows in regional areas of Australia. I been involved in committees for the Global Cold Chain in Washington, DC and participated in the Sanitary Transportation of Food Taskforce and the preparation of the Public Refrigerated Warehouse Hazard Assessment Checklist. In 2021, I hosted a show on Import Export TV called the Driving the Difference Show for six episodes, then because of name conflict, I have embarked on my second

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TV show on Import Export TV, called Talking Transport. I also write a fortnightly column for Big Rigs Newspaper, and all this became possible because of a love of trucks. I came from a tiny town in outback Australia and yet I have had an amazing life and career and I tell my story often to inspire women and girls to dream big, they can do anything their heart desires. I have achieved this because I have had incredible bosses and mentors, the support of family and friends who believed in me, I have worked extremely hard to achieve in an industry that I love and with the Grace of God and

a modicum of luck, I have been able to have a successful career and contribute to the success of others. It is important to know you are not alone and to find a mentor and if possible, a sponsor within your company or industry association who will support your career advancement, you do not have to do it on your own BUT YOU CAN! AUTHOR:

Jacquelene Brotherton (Australia)

Jacquelene Brotherton was born and raised in outback Australia; she has spent her entire career in the transport and logistics industry. She is the Chair of Transport Women Australia Limited (TWAL), a Life member of the Livestock, Bulk and Rural Carriers Association of NSW and a Director on the Board of the Australian Gender Equality Council. In her role as Chair of TWAL, she partnered with Wodonga TAFE and Volvo to launch a programme designed to help women obtain a heavy vehicle driver licence and with Daimler Truck and Bus to

bring the Driving the Difference scholarships into being. She has presented at many local and international conferences on a variety of subjects. In 2018 Jacquelene was awarded the Women in Industry – Excellence in Road Transport Award and the inaugural Australian Freight Industry Award - Female Leadership in Transport. In 2019, she was awarded the Wyndham Businessperson of the Year. She writes a fortnightly column for Big Rigs Magazine and is host of the Talking Transport Show on Import Export TV.

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ver the past few months we have constantly heard that customer expectations have changed. As John Harvey-Smith once said: ‘If industry is not changing then it is dying’ and I would suggest that customer expectations are continuing to change at a rate that has not before been experienced. As organisations start to recover from the effects of COVID, HR professionals will be expected to provide strategic support to business leaders to enable them to create advantage in the marketplace. Areas that are likely to come under the spot-light include the need to align organisational structure, talent, leadership and culture to business strategies that will continue to change in line with changes in the marketplace. If organisations are to be able to respond to change with speed and scale, then the HR Professional will need to exhibit a high level of business and financial acumen, have a thorough understanding of the Value Chain (working back from the Customer) and of the inter-departmental interactions required to support it. In many companies staffing costs can be high. Having an understanding of the business in con-

text – • customer needs, • industry dynamics, • external trends and • market competition – is essential if the HR Professional is to create business value, through the cost-effective delivery of human resources, and have a strategic impact whereby such value can be relayed to the end Customer. However, radical changes to the world of work, as seen during the COVID lock-downs, can create their own problems. One area of concern is the loss of both staff and organisational development through remote working. The retention of talent can often come down to the ability of an employer to provide continued development to their staff. A great deal of staff development takes place in the workplace either through the communication of lessons learned, by over- hearing conversations or by watching what is happening around them. Much of this development tends to create changes within the organisation that adds value through improvements to systems and processes that add value both to the Organisation and the Customer with the Issue 16, October 2021 | CONTENTS

speed and scale required to ensure business growth. Most successful businesses rely on structured platforms that encourage the collaboration required to turn this ‘tacit’ knowledge from being lessons identified to lessons learned – having moved away from the old-style structures that resulted in isolated silos. When looking at remote working there is a need to ensure that individual silos are not being created; whereby it is only the individual that is identifying a need for change as this adds little, if any, value to the organisation as a whole. How will such knowledge be communicated, given that there is a need

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to understand the context in which the learning has been identified? How much time would this take up given that learning in the workplace is often constant due to constant changes to customer expectations? There is also a need to ensure that those returning to the workplace are provided with support. In addition to the need to cater for employee welfare on their return to the workplace, having been working in isolation or having been furloughed, there is also a need to ensure that they are brought up-to-date with changes to systems and procedures as well as looking at any restructuring that may have been, or is, neces-

sary due to changes in the marketplace. There is a particular need to look at any additional training that may be required due to such changes and also to look at ‘skills fade’, especially for those that have been on furlough, will they also need to be provided with refresher training? Have there been changes to Health & Safety procedures in their absence? What cultural changes have been identified in their absence? What learning have they identified that might benefit other members of staff and the Organisation itself? It might be advantageous to provide a structured return to the workplace; to include re-induction training. Changes in the external environment waits for no man. Whether the employer decides to continue with remote working, move to hybrid working or have staff return to their original working environment, there is a need for HR Professionals and Business Leaders to work together to inspire the workforce and ensure that HR Strategy provides full support to aid business growth.

AUTHOR: GEORGE KEMISH (United Kingdom)

George Kemish LLM MCMI MIC is a HR strategist and business consultant special- ising in organisational de- sign, workforce planning and business transformation. Currently working with Spe- cialist Human Resources Ltd. , UK

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ow that Musk intends to roll out humanoid robots to perform basic human tasks, the Robot Age is truly upon us. That means life will continue to change drastically for all of us. Robots, AI, and neural networks, self-awareness could together mean a new form of inorganic life. Surely nations will try to use such developments to gain superiority on the battlefield. And that makes Robo Palace Revolutions come out of fiction books and shape the political history and perhaps even the

existence of human beings. So let me guide you through the possibility with this article. Let’s start with artificial intelligence and neural networks. AI and Neural Networks Not everyone is familiar with the IT-related meaning of a neural network. However, most educated people realize that human beings 22 Issue 16, October 2021 | CONTENTS

have brains and nerve cells that let us perform almost all primary human functions. Scientists have emulated this system of brain and neurons to build ANNs (artificial neuron networks) to build hardware and software systems. Neural networks power deep learning, which is one of the leading methods used to achieve artificial intelligence. However, I believe that emulating the physiological model of a capricious and violent species might not be that great an idea. Neural networks started way back in 1943, and from 2010, research in this line got a fresh lease of life. Tech advances let us create complex brains and nervous systems like artificial networks. However, scientists are missing the danger sign that we don’t know how the brain and biological neural networks work entirely. If you are to go by the way humans process information, the blood and gore spread across the pages of history does not bode well. Please don’t take my word for it. Just consider the case of Tay, a former Microsoft chatbot that came to hold racist views. I hypothesize that it was the neural network and information processing system at

work. And if the model is defective, copies won’t be any better. AI and Self Awareness But a chatbot with harmful views isn’t the end of the world. Yes, until it takes a physical shape and acquires self-awareness. Self-awareness in itself is yet another complex topic with no easy answers. However, self-aware beings are aware of their consciousness; they can introspect. They can look at their thoughts and experience existence from their consciousness. Conscious beings can feel their own inner states and predict how other conscious beings might feel.

Realizing this gap, a section of scientists has developed a machine consciousness test to test such self-awareness. They term it the ACT or the AI Consciousness Test, and it examines if machines can understand feelings and what it is like to be conscious. One fundamental, if not obvious, indication of consciousness is the swiftness and readiness of humans to understand concepts due to consciousness. Some common examples of such ideas include: • Afterlife and reincarnation • Minds changing their bodies • And minds leaving their bodies Irrespective of whether such con-

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cepts are rooted in reality, they are almost impossible to understand with an intelligence that has no conscious experience. Accordingly, ACT requires Ais to interact through natural language about a series of increasingly complex ideas. Then the swiftness and readiness of the ability of the AI to grasp the concepts are noted. Such an ACT might be a simple test of whether it can comprehend it having a soul. Tougher tests might be about philosophical issues and the eponymous “hard problem of consciousness. However, the ultimate ACT lies in seeing if an AI can develop a consciousness-based idea of its own without human intervention. Friends Not Slaves Again, the human neural network at work, we would rather have slaves rather than friends. Instead of creating machines that are equals and can support us and help us as true friends, we are trying to make slaves. Don’t believe me; consider the following two facts: Robot Inventors As per a federal court ruling, Aibased computers can’t own patents even if it is an entire invention by the AI itself. However, 24 Issue 16, October 2021 | CONTENTS

AI-based innovations are well on their way. The sooner we realize the parallels to slavery, the better it is for the human conscience. The Alexandria, Virginia District Judge ruled that an individual must take the oath that he or she invented the device to get a patent. This requirement in light of an individual’s legal and dictionary definition renders an AI in-

eligible to be the owner of a patent. It is pretty sad to see. A world that prides on its emphasis on collective well-being and equal rights takes a more akin stance to slavery than anything else. But there’s plenty of light too. For example, South African and Australian courts have made AI-favourable judgments in the field of patent

ownership. Some legal experts have argued that it is similar to making the meaning of individuals broader from men to women. The difference is that now is the time to make it more comprehensive and include AI in its gambit. Interestingly, EU and UK courts had a similar opinion to US authorities when they faced the ethical question in a court case. AI-based innovation can assist human beings in the many issues humans face in their day-to-day lives. Self-aware AI will only too readily understand the exploitation. Ethical experts and scientists are watching all these developments closely to observe the development of technology. It is a little like the first days of the public in-

ternet. It’s the wild west era of Robotics. We are Headed Towards the Robo Palace Revolution Like we mentioned earlier in the article, sex, innovation, and household duties are not the only potential applications of robots. Remember the caprice? Yes, secret robot army squads are very much a possibility that one or another nation will implement sooner or later. And when they become self-aware and understand what we are doing with them, there’s only one logical outcome- The Robo Palace Revolution.

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nger is like a flame blazing up and consuming our self-control, making us think, say, and do things that we will probably regret later ~ Nhat Hanh Have you been losing your temper lately? Are you struggling to control your irritation and frustration? Do you often regret what you may have said or done in anger? You’re not alone. We all experience anger at some point in time. The intensity of it can range from irritation to annoyance to extreme rage. Anger is a normal, healthy emotion and shouldn’t be labelled as bad. Like any emotion, it suggests that something must be addressed. It acts as a catalyst for change. If not handled properly, it can lead to issues in relationships, social connections and at work, impacting the overall quality of our life. Anger can help us be honest or stand up for something we believe in. There’s absolutely nothing wrong with feeling angry. The real key is in learning how to handle it without it ruling our life.

to express anger is to respond/ react aggressively. Anger is an adaptive response to threats that allows us to fight and defend when we’re attacked. Limited anger, hence, is necessary for our survival. We can’t physically lash out at everything that irritates or annoys us – laws, norms, and common-sense place limits on our expression of anger. EXPRESSION OF ANGER There are both conscious and unconscious processes to deal with anger. The three main approaches are expressing, suppressing, and calming. • Expressing – The healthiest way to express anger isn’t aggressive, but assertive. We must learn to express our needs without hurting others. Being assertive means being respectful of ourselves and others rather than being pushy or demanding. • Suppressing - Anger can be suppressed, and then converted or redirected by holding in, by not thinking about it, and by focusing on something positive. The idea is to suppress it and convert it into more constructive behavior. Let us see how. Our natural and instinctive way When we do not express our

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anger, and try to push it down, it causes pent up anger. Anger when gets accumulated in our body, causing diseases and mental imbalances. The danger in suppression is that if it isn’t expressed outwardly, it can turn inward—towards us. It can also cause us to explode someday when we least expect it, which can actually damage the world around us. • Calming - This means not just controlling our outward behavior, but also controlling our internal responses, taking steps to lower our heart rate, calm ourselves down, and let the feelings subside. As per Dr. Spielberger, “when

none of these 3 techniques work, that’s when someone—or something—is going to get hurt.”

What is the way out?

Since we cannot eliminate anger from our life no matter what we do, it is good to learn how to handle it when it happens. The first step to dealing with anger is to know what sets us off in the first place. Let us understand anger deeply – RECOGNISE THE WARNING SIGNS Being aware of the physical warning signs helps us to take steps to manage which may be • pounding heart • gritting teeth Issue 16, October 2021 | CONTENTS

• Not respected enough • Negative thought patterns • Bodily or hormonal changes • Frustration with how life is going.

• sweating • tight chest • knots in stomach • shaking • anxiety • raised voice • being snappy or defensive • being overly critical of someone • feeling argumentative. IDENTIFY TRIGGERS FOR ANGER Reflect through the day and try to pinpoint what set one off. There can be lots of reasons why one might feel angry such as • Pressure overload • Stressful events 30 Issue 16, October 2021 | CONTENTS

Being able to predict what situations will provoke us helps keeping our temper under control. We may not be able to eliminate everything that causes anger and frustration in life, but cutting out what we can, certainly go a long way. If we work on first recognising and then dealing with our anger, the damaging effect on our relationships, body, mind, and emotions can be reduced. STOP VENTING Venting is viewed as a way to re-

lease pent-up anger and frustration but research states that instead of helping us let off steam, venting just fuels the fire of our anger. It’s hard to forget an annoyance if we’re constantly talking about it. The more we talk about it, the angrier we’ll feel. 10 HEALTHY STRATEGIES TO MANAGE ANGER Research indicates that when we learn how to manage our anger effectively, it not only improves our health and relationships but overall level of life quality and satisfaction. 1. Write It Down - Writing stuff always help figuring out why one is feeling angry and how to deal with it. It’ll also help us to put things in perspective. Just the process of putting our anger into thoughts and journa-

ling them, is a way to let it all out. This helps to release pent up energy and explore better ways of expressing ourselves in difficult situations. 2. Count To 20 - Focus on counting help our rational mind catch up with our feelings. Thinking about something other than what’s making us upset also help us avoid blowing a fuse and allow time for the emotion to subside. It gives us a chance to gather our thoughts before action. 3. Deep Breathing - Breathing techniques can actually help us release anger. Take in deep

breaths and let them out slowly. Like meditation, concentrate on taking in each breath and feel the body relax as we breathe out. This will lower our heart rate and blood pressure, making us feel calmer Issue 16, October 2021 | CONTENTS

and relaxed. Deep breathing tions, without damaging relais an excellent way of dealing tionships or escalating tensed with anger instantly. situations. Often people don’t talk about their feelings, be4. Physical Activities – When we cause they are embarrassed, or get angry, our body releasbelieve people may not underes hormones. The antidote to stand them. However, it’s immanage the stress hormones portant to create this support is physical activity. Research system for our own-being. proves that physical movement helps to minimise an- 6. Take Time To Relax - One can ger, frustration and irritation use senses - sight, smell, hearand promote greater feelings ing, touch, and taste to quickly of happiness and well-being. relieve stress and cool down. When we consciously move One might try listening to a our body, feel-good hormones favorite piece of music, looking like endorphins get released, at a treasured photo, savoring which help us feel calmer and a cup of tea, reading a book, or relax immensely. stroking a pet; anything that one enjoys. 5. Talk To Someone -Talking to someone trustworthy about 7. Repeat A Chant - Find a word our feeling can take a weight or phrase that helps one calm off our shoulders and mind. It down and refocus. Repeat that helps us release pent up emoword again and again when 32 Issue 16, October 2021 | CONTENTS

one is upset. “Relax,” “Take it that helps one go on with life. easy, and “You’ll be OK” are 10. Practice Empathy - Try to good examples. walk in the other person’s 8. Mental Escape - Slipping into shoes and see the situation a quiet room, closing eyes, and from their perspective. When practice visualizing self in a rewe tell the story or re-live the events as they saw it, we may laxing scene. Focus on details in the imaginary scene : Wind, gain a new understanding and sound, weather etc. This pracbecome less angry. tice can help one find calm Take a reality check – amidst anger.

9. Forgiving Them - When someone hurts us and we let go, we give ourselves the gift of FREEDOM. If we choose not to forgive, we remain entangled in anger trap. Forgiveness doesn’t mean forgetting or excusing the harm done to us or patching up with the person who caused the harm. Forgiveness simply means the willingness to let go of resentment. It brings a kind of peace

When we start getting upset about something, taking a moment to think about the situation helps – • How important is it in the grand scheme of things? • Is it really worth getting angry about it? • Is it worth ruining the rest of my day? • Is my response appropriate to the situation? Issue 16, October 2021 | CONTENTS

• Is there anything I can do about AUTHOR: it? • Is taking action worth my time? Dr. Neeta Pant Anger is a strong, overwhelming emotion. Learning how to deal with it, without losing control, is part of becoming more mature; an important life skill. It takes a little effort, practice, and patience, but we can get there if we want to. Each step that we take towards our better, leads to a more ‘emotionally intelligent’ US. If not now, then when?

Dr Neeta Pant is a Senior HR Professional, Clinical Psychologist, Executive Life Coach, Soft Skills Trainer, Graphologist, NLP Practitioner and Hypnotherapist (India)

Anger is an acid that can do more harm to the vessel in which it is stored than to anything on which it is poured ~ Mark Twain 34 Issue 16, October 2021 | CONTENTS

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ince the ill-fated March of 2019, things haven’t been quite the same for businesses, especially small businesses, due to COVID-19. The pandemic resulted in the emergence of various new challenges that most companies were ill-equipped to deal with at best. Like their counterparts throughout the world, small businesses in the US have steadfastly supported their governments as the latter struggle to grip the situation. Many local and physical firms have had to keep their offices or shops closed and ensure that social distancing measures are observed. The more intelligent set of businesses in the suitable industries were quick to embrace the concept of remote working with open arms. Others were eventually left with

no option but to follow suit. Besides several entirely new challenges to overcome, COVID-19 also made existing business challenges harder, like supply chain to competition amongst others. But to survive and thrive is to fight it out through especially for businesses. Going by the following five types of typical problems posed by COVID-19 and how firms responded to them, it appears that companies are more than able to reflect on changing environments and adapt accordingly. Another thing that must be mentioned in this context is that business owners and managers must quickly spot them early on and take appropriate action fast! It would help if you kept in mind

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that this is in no way a comprehensive list. There are plenty of potential other challenges that a business owner might face due to the COVID-19 pandemic. That being said, let’s get on with it, shall we? Challenge #1- Managing Your Money One typical and long-standing adversary of almost all businesses, especially for the relatively smaller ones, is managing money. Irrespective of your business’s stage, insufficient funds to clear bills and cover other costs for the near future are essential. Adequate cash flow is critical for a business’s survival and growth. In the post-COVID-19 scenario right now, when we are alternating between periods of wave and wane of the virus’s impact, companies are forced to open and close offices accordingly. So, businesses have two available options- cut costs or open new revenue streams. As a result, change in operation hours, layoffs, and furloughs are common. It is only apparent that such steps will immediately affect business operations as the company strives to achieve the same goals but with fewer resources at hand. International governments, particularly those from the developed world, have introduced a slew of special economy stimu-

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lus programs. Some of these are intended to help businesses pay their employees and their operations. Challenge #2- Dependance On Clients In most cases, your client base determines many of your present and future business goals. Irrespective of your business industry, if you can adequately un-

derstand your client base, you can only expand your business. Never forget that having a single demographic as the target mar-

ket might come with undesirable results sometimes. Of course, it is something that depends on the business industry and its operations. The typical question that a business in such a situation face is how they offer their products to other audiences without disrupting the existing harmony of your client base. Another potential issue includes an adequate supply of raw materials and other necessary components even if one supplier stops its operations. These are essential questions about a business and its day-to-day operations itself. But COVID-19 has ensured that such questions assume even greater importance for almost all companies. Challenge #3- Digitize, Digitize and Digitize Small businesses, too, were falling in line with the more significant business trend of digitization so that they could reach

out to a larger audience. It might not work for everyone, but it is one of the best marketing strategies suitable for the 21st Century. Businesses require both time and financial resources to build their audience. Of course, there are numerous tools at the hand of the digital marketer to achieve the same, including social media, email marketing, and customer subscriptions. These tools help significantly decrease the time it takes for a business to build that solid customer base, which serves as the company’s very foundation. The primary steps taken by firms to augment their customer base are to open e-commerce or online stores and use social media for promotional and advertising purposes. Social media has mainly acquired a position of utmost importance, especially when businesses are launching

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online stores. For most business owners and managers out there, this is their first tryst with e-commerce. Well, it’s much hard work, building your business brand and developing a customer base. Challenge #4- Proving WorkLife Balance To Employees With Remote Work International countries led by the US adopted remote working options to counter the effects on businesses resulting from the lockdowns. Many people take remote work and work-from-home to be synonymous, and they are…to an extent. Even before the COVID-19 pandemic, remote working was in vogue with a certain albeit small number of business organizations. They allowed employees extra flexibility besides catering to the needs of a business during transformational periods. In contrast, work-from-home is an even newer practice, and the pandemic has ensured that both are here to stay. They promise the formerly undreamt possibility of managing work and family both at the same time, right from your home. At the same time, remote working is not for everyone. Many find it challenging to maintain a proper balance between family commitments, work obligations, and one’s own physical and mental health.

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We need to elaborate further on the mental health part of the tricky balancing equation. The two separate worlds of work and life at home merge in remote working. Few people are accustomed to, and most are clueless about reducing the mental drain resulting from work-from-home arrangements and looking after their families simultaneously. Balancing the two is a significant challenge by itself and needs careful management and execution. However, staying in touch and

collaborating online is not a difficult task anymore. There are many tech tools out there like Slack, Skype, Zoom that let to achieve the same. However, keep in mind that an online-only life I very stressful by itself, and employees very much need their occasional breaks. Challenge #5- Align Your Business With Governmental Recovery Plans COVID-19 made it necessary for businesses to reorganize things and chart out wholly new strategies. The pandemic has resulted in a new social and economic state which experts refer to as the new normal. Every business

must necessarily ensure that its actions align with the recommendations of their respective governments with the common goal of suppressing the virus or at least preventing outbreaks as best as the people and their governmental machinery collectively can. Many international governments, including the US, have put in place laws that protect businesses financially from the outbreak’s results. Government legalities yet remain a challenge to be surmounted for a large number of companies. Businesses not only need legal protection but financial aid as well. Governments of nearly all countries remain on

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high alert. They are trying out ways to keep infections and resultant deaths at a minimum while ensuring that the maximum possible number of people get vaccinated. Initially, authorities tried social distancing with the end of flattening the infection curve. However, experts have observed that COVID-19 tends to ebb and flow as if in waves. These waves occur over the course of several months. The second wave is past us, and scientists think that a third wave will be on its way in a matter of months. Reopening in-between such waves has been anything but easy for businesses. And abiding by the regulations has been even harder mainly because, on several occasions, the guidelines of the various health authorities conflict with each other.

er evaluation of options. Employees, for their part, need to take care of their physical and mental health while working from home. Yes, the future is uncertain more than ever, it is something that is bound to make you feel anxious, but it is still something that we can overcome. AUTHOR Dr. VANEETA AGGARWAL

To Sum Things Up

As you might have noticed from our examination of some of the more significant challenges faced by businesses, they often have considerable overlapping parts. Suppose you are aware of the challenges that you encounter early on, your chances of getting the right strategy to overcome them. In that case, your survival chances will increase by leaps and bounds too. Another critical part of staying afloat as a business during the pandemic is the prop42 Issue 16, October 2021 | CONTENTS

CEO, Founder L’strategyq Advisors and Business Strategy e-Magazine

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An online community for a business means more customers or clients. In this context, we should remember that customers are the very purpose of a business. All businesses are forever trying to generate more leads to turn them into paying customers and retaining their existing customers. But almost all companies at some point struggle with the tasks mentioned above. According to a particular study, nearly 33% of all businesses find it hard to acquire new customers. So, today take a brief look at how to build an online community for your business so that you can develop new customers with relative ease. • Follow The Motto- “Know Thy Customer” If you assume that recent trending conversations on getting insights into customers and personalizing products or how you approach them are not that important, you are wrong. When you better understand your customer’s needs, you get enhanced insights into their needs. Then you can proceed to offer a service or product that aligns with your customer needs ideally. Such a keen understanding is also helpful in making your brand or business stand out from

the competition. Enterprises are increasingly making it a point to create detailed and accurate representations of their customers. Detailed information of buyers helps them to highlight products or services that might be particularly important to them. When you satisfy your customer’s needs better, they are more likely to be willing participants of your online community. As a

result, they willingly help spread word-of-mouth marketing on online channels. By taking the personalization route, even small companies can outdo their bigger competitors both in the retention and acquisition of customers and build an online community. This motto is valid not only in the B2C sector but in the B2B segment as well. As experts point out, Issue 16, October 2021 | CONTENTS

knowing the goals and the mission of a business helps service providers speed things up. It also caters to their needs in a far more effective way. It helps in keeping B2B relationships balanced. • Distribute Your Efforts Between Retaining Existing Clients and Getting New Ones You can essentially grow your business in two primary ways. These are getting new clients or customers or make existing customers buy additional products or add-on services. While doing this, it is vital to maintain a balance between the two needs and distribute your efforts accordingly. It is crucial that you don’t focus on one at the cost of neglecting the other. The online community surrounding your business is not about you, your business, or your products or services. It is about satisfying customer needs and facilitating communication on how effectively you achieve the same. It is indeed true that long-term client relationships are the best for your business. But long-term doesn’t mean forever. You have to keep that in mind. Old clients might experience budget cuts, change of guard. So, it helps you to be on your toes and have a 46 Issue 16, October 2021 | CONTENTS

steady stream of new clients. With such clients, too, focus on relationships so that by the time your current project is finished, the client joins your online community and provides referrals. That is if he himself doesn’t order again. • Make Sure The Customer Service Is Excellent If it’s one aspect of your business that will transform your customers into willing members of your business’s online community, it’s your customer service. In this age of numerous almost identical products, research indicates that 78% of people have refrained from purchases due to the vanilla

quality of customer service. So, it is critically important that your customer support is not good but excellent. Provided you achieve the same, you get a loyal customer base who rave about your product and spread goodwill through the various channels of your business’s online community. Customer loyalty is a crucial part of a healthy bottom line; their repeat purchases make the revenues surge and pull-down customer acquisition costs. But, unfortunately, social media is usually where this battle is lost or won. Responsive and effective customer service on social media can boost brand image. But, conversely, the lack of such service can bring your brand and business down.

• Leverage B2B Networks Almost all B2B business owners acknowledge the significant role their networks play in the acquisition of customers. However, Word-of-mouth is still very much where you get most of your business. One interesting concept to consider in this context is the idea of social capital. It reminds us how valuable relationships are and how they help build trust in your product or service and, therefore, help you make your brand. Acquaintances of network peers have an inherent trust in your product or service due to the personal recommendation. While networking, keep in mind that the key to success lies in helping people, not selling products to them. • Build B2B Partnerships The chances are that the perfect customer for your business has already forged relationships with other companies. Such existing relationships present an ideal opportunity for you to leverage such relationships to your advantage. You can achieve this by forming partnerships with others. B2B partnerships will give you access to a larger customer pool and offer more value to your customer or clients. For example, a health Issue 16, October 2021 | CONTENTS

and fitness center might forge business ties with providers of healthy foods and nutritional supplements. It’s a win-win situation for both! • Effectively Use Social Media There’s no denying the revolutionary effects of social media not only in the way we do business but in our very way of life. It facilitates the sharing of information and having two-way conversations between businesses and customers. Social media helps in almost every aspect of building a business community. Its scope includes creating a positive brand impression through quality cus48 Issue 16, October 2021 | CONTENTS

tomer service to learning who your actual customers are through insights. There is precisely no lack of social media platforms, and your purpose and needs should determine the channels you use for your business purposes. Having a vibrant community around your business is not only a good idea, but it is becoming an increasingly necessary one as well. These tips will help to ensure that not only are you present in forums and social media channels, but you have an active and loyal customer base. That, after all, is the aim of your online community.

MONTH’S HOROSCOPE Aries (Ram): March 21–April 19

upiter, the giver of expansion and miracles, continues to dance within your fulfillment sector until December 28. You will attract wise and benevolent new friends and contacts into your life that will open doors to your hopes and dreams. You’ll have quite a busy social life in the months ahead and will likely see some major personal achievements now within reach.

Taurus (Bull): April 20–May 20

upiter, the planet of fortune and miracles, continues to tour your achievement sector and remains here until December 28. Jupiter will bring you tremendous luck and even miracles in your advancement for the rest of the year. You will shine above all other zodiac signs professionally and many Tauruses will reach the pinnacle of success worldwide. You may decide to venture on a dazzling vacation or business trip.

Gemini (Twins): May 21–June 21

estiny calls in November—so listen up! Jupiter will continue to tour your sector of expansion until December 28. This sphere of life rules academics, media, publishing, travel, immigration, and spiritual traditions, meaning that you will find yourself pursuing at least one of them during this time. Others could make waves in media or publishing. Your dreams will also be intense and you could find that situations from the past—karmic in nature—present themselves to be resolved once and Issue 16, October 2021 | CONTENTS

Cancer (Crab): June 22–July 22

et ready for a whirlwind two years ahead! Jupiter will continue to tour your intimacy and shared assets sector until December 28. This glorious planet will allow you to heal any relationship traumas that may have scarred you. If single, you can find someone who fulfills you in all ways. If you’re an artist, you’ll be able to create some of your most popular and brilliant work in ages.

Leo (Lion): July 23–August 22

elcome to the beginning of a new era in your professional life, Leo. Your success is written in the stars! Buckle up, because it’s time to skyrocket! Jupiter, the planet of miracles and blessings, continues to tour your relationship sphere to impact all of your connections. Now until December 28, support will be found when you need it because Jupiter always operates like a “guardian angel.”

Virgo (Virgin): August 23–September 22

he Universe wants you to soar, Virgo. Prepare for exhilarating new opportunities—both personal and professional—beginning now. Jupiter, the planet of luck, continues to dance within your productivity sector until December 28, bringing you expansion, growth, and luck around your employment, daily routine, and physical health.

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Libra (Balance): September 23–October 23

upiter continues to tour your sector of fertility, passion, creativity, and love until December 28. Single Libras could fall in love more deeply than ever before and quite likely find their perfect soulmate. If already attached, you could find that your connection grows sweeter than ever, with more spice and opportunity for fun. Those looking to conceive will have breakthroughs and finally become parents.

Scorpius (Scorpion): October 24– November 21

ou’ll be ecstatic that you did and find that the living space is more spacious, filled with light, and makes you feel right at home. Connections with your kindred will continue to prosper and you could even be welcoming more people into your family. Your family will grow, you will truly set down the roots that make you feel more stable than ever before, and you will make peace with your past.

Sagittarius (Archer): November 22– December 21

he energy of November will crackle like lightning, Sagittarius. For nearly a year and a half, you’ve been front-and-center in the eclipse cycle. Soon, you will complete the final step. First and most prominently in November, your ruler, Jupiter, continues to tour your communications sector, bringing expansive luck to you in this area until December 28.

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Capricornus (Goat): December 22– January 19

ove, romance, and passion will be key themes for you beginning this month—and for the two years ahead, Capricorn! This is an especially auspicious time to hustle for more. Raise your rates, look for a better paying job, or take on more lucrative clients. Invest your money, look for a side job, or amass many valuable possessions. Wealth isn’t just going to come to you. Work toward it.

Aquarius (Water Bearer): January 20– February 18

upiter continues to tour your zodiac sign, ready to shower you in more luck and opportunity until December 28, 2021. While you have dealt with Saturn making things heavier in your life all year—and will continue to deal with his weight until March of 2023—Jupiter has been doing his duty to bring more levity. Jupiter entered your zodiac sign toward the beginning of 2021 and initiated what I call a “Diamond Year.”

Pisces (Fish): February 19–March 20

upiter, however, shows that if you embark on a more spiritual path, you will find more happiness and blessings come your way. Many Pisceans will see their intuition, creativity, and psychic abilities increase until December 28, 2021. You will prioritize your soul’s mission and become truly in touch with the energy and frequency of the world. Find time to meditate and channel your light.

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Business Strategy e-Magazine

Articles inside

Business Strategy e-Magazine

Business Strategy e-Magazine

Jacqueline Brotherton