The Best Franchises To Buy in 2024

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TheBest FRANCHISES ToBuyin2024

Beautiful DesignMakesa BeautifulLife: TIFFANY&CO.

TASMANIA: Experience NatureLike NeverBefore

Making HEALTHCARE More

W W W . T H E E N T E R P R I S E W O R L D . C O M | A P A C E D I T I O N | J A N U A R Y 2 0 2 4
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r o m E d i t o r ’ s D e s k

F

nourever-evolvingbusinesslandscape,thepursuitofentrepreneurialsuccessofteninvolves navigatingtheintricateworldoffranchising.ThelatestissueofTheEnterpriseWorldis dedicatedtounravelingthepossibilitiesandpotentialsoffranchisingaswepresent"The BestFranchisesToBuyin2024."

Franchisinghasproventobearesilientanddynamicavenueforbusinessgrowth,offering aspiringentrepreneursthechancetoalignwithestablishedbrandswhileembarkingontheirown ventures.Inthisissue,wehavemeticulouslycuratedalistoffranchisesthatstandoutinthe competitivemarket,eachembodyinginnovation,sustainability,andaproventrackrecordof success.

Asweexplorethelandscapeofopportunitiesin2024,ourteamhasdelvedintothediverse sectorsthatcontinuetoshapethefranchisingindustry.Fromtechnology-drivenconcepts revolutionizingthewaywedobusinesstotime-testedmodelsthathavestoodthetestof economicfluctuations,ourselectionreflectstherobustdiversityofthefranchisingworld. Inourfeatures,expectinsightfulinterviewswithindustryleaders,franchiseowners,andexperts whoprovideanuancedperspectiveonwhatmakesafranchisenotjustsuccessfulbutalsoan attractiveinvestmentinthecurrenteconomicclimate.Weaimtoequipourreaderswiththe knowledgeandinsightsneededtomakeinformeddecisionsastheynavigatetheexcitingand sometimescomplexworldoffranchising.

Moreover,oureditorialteamhasanalyzedmarkettrends,consumerbehaviors,andeconomic forecaststopresentaholisticviewofthefranchisesthatarepoisedforgrowthinthecomingyear Whetheryouareanaspiringentrepreneurlookingfortherightfranchiseopportunityora seasonedbusinessprofessionalseekingnewavenuesforinvestment,"TheBestFranchisesTo Buyin2024"isyourgo-toresourceforstayingaheadinthecompetitiveworldoffranchising.

AtTheEnterpriseWorld,weremaincommittedtoprovidingourreaderswithrelevant,timely, andvaluableinsightsthatempowerthemtomakestrategicdecisionsintheirentrepreneurial journeys.Weinviteyoutoimmerseyourselfinthepagesofthisissue,explorethepossibilities, andembarkonajourneyofdiscoveryasweunveilthebestfranchisestoconsiderin2024.

Here'stoayearofentrepreneurialsuccess,growth,andgroundbreakingopportunities!

Warmregards,

F
r o m E d i t o r ’ s D e s k I
Copyrights © The Enterprise World | 2019. All Rights Reserved. The images and content included in this magazine should not be copied, transferred or reproduced in any form or by any means, electronics, mechanical, photocopying, recording, otherwise, without proper permission from The Enterprise World. The Enterprise World solely owns all the reprint rights. The Enterprise World Publisher Suchita P. James H. Prathamesh K. Sankalp K. Creative Content Editor Marketing Coordinator (Apac) PR & Marketing Coordinator Business Development Executive Creative Design Head Narendra S. Amanda V. Social Media Manager Digital Circulation Manager editors@theentetpriseworld.com For Editorial Concerns: sales@theenterpriseworld.com For Sales & Branding Enquiries: info@theenterpriseworld.com For Subscription: Ofce No. 102, Bhakti Genesis, S. No. 245, H. No. 2B,Wakad Aundh Main Road, Pune. 411057 Follow Us On: Shalmali W. This list is NOT a ranking. The companies on listed in magazine serve different aspects of the market, making ranking them in any order except revenue impossible and unfair. We try to bring a perfect platform for business organization to showcase their valued products/ services. Aparna S. Graphic Designer

Forthecoverreadabout-

Oneoftheprominentplayersinthehealthcareindustrytodayis—Apollo HealthandLifestyleLimited(AHLL).Afranchisetie-upwithaglobal brandlikeApollosetsupentrepreneursforsuccesswithminimalinvestment andreducedrisk.Ontheotherhand,thesecompaniesalsogetanopportunity toexpandbusinessbeyondtheirusualmarketswhilemakinghealthcaremore accessible.

HelpingBillionsofPeople

ApolloHealth&LifestyleLimited(AHLL),asubsidiaryofApolloHospitals EnterpriseLimited(AHEL),isoneoftherenownedplayersintheprimary andsecondaryhealthcaresegmentinIndia.Thecompanyoperatesin secondarycarespecialtyformatswithApolloSpectraHospitalsformultispecialtyclinicalservicesandApolloCradle&Children’sHospitalfor Women&Children.

SharingthemissionandvisionoftheApolloHospitalsEnterpriseLimited (AHEL),AHLLwantstohelpbillionsofpeoplebybringinghealthcareof internationalstandardswithinthereachofeveryindividual.Forthebenefitof humanity,AHLLiscommittedtotheachievementandmaintenanceof excellenceineducation,research,andhealthcare.

L E A D E R S I N S P O T L I G H T
C O N T E N T S Apollo Health and Lifestyle Limited 12 Making Healthcare More Accessible through Franchise
Case Study Beautiful Design Makesa Beautiful Life: TIFFANY & CO. 34 upshot Tasmania: Experience Nature Like Never Before 22 Article 4 Expert-Approved Solutions to Small Business Failure 30 Review greenhouse 42

APOLLO SPECTRA HOSPITAL

Thehealthcaresectorhas

becomealucrativeoptionfor entrepreneurs,owingtothe rapidgrowthofthehealthcareindustry today.However,survivinginacutthroatfieldlikehealthcareisnotan easyendeavorandrequirestremendous resources.Asaresult,many entrepreneursconsiderfranchise businessasaferoptionduetothe advantagesprovidedbythewellestablishedhealthcaregiants.

Oneoftheprominentplayersinthe healthcareindustrytodayis—Apollo HealthandLifestyleLimited (AHLL).Afranchisetie-upwitha globalbrandlikeApollosetsup entrepreneursforsuccesswith minimalinvestmentandreducedrisk.

Ontheotherhand,thesecompanies alsogetanopportunitytoexpand businessbeyondtheirusualmarkets whilemakinghealthcaremore accessible.

HelpingBillionsofPeople

ApolloHealth&LifestyleLimited (AHLL),asubsidiaryofApolloHospitals EnterpriseLimited(AHEL),isoneofthe renownedplayersintheprimaryand secondaryhealthcaresegmentinIndia.

Thecompanyoperatesinsecondarycare specialtyformatswithApolloSpectra Hospitalsformulti-specialtyclinical servicesandApolloCradle&Children’s HospitalforWomen&Children.

| January 2024 12

Apollo Health and Lifestyle Limited

Making Healthcare More Accessible through Franchise

Sharingthemissionandvisionof theApolloHospitalsEnterprise Limited(AHEL),AHLLwantsto helpbillionsofpeoplebybringing healthcareofinternational standardswithinthereachof everyindividual.Forthebenefit ofhumanity,AHLLiscommitted totheachievementand maintenanceofexcellencein education,research,and healthcare.

TheBeginning

AHLLstartedventuringintothe partnernetworkhospitalverticalin 2019,alsoknownasBrand, Operations,andManagement Agreements(BOMA).BOMAisa hybridmodeloffranchiseand O&Mcontracts,whereApollonot onlylendsbrandingsupportbut alsoextendsfulloperational support.

Afewyearsback,tier-IIandsomemetrocities lackedqualityhealthcareservices.Toremedythis, Apolloincreaseditspresenceinthesecitiesand selectedmetrocitiesthroughinorganicexpansion throughBOMAbyassociatingwithpartnersthat alignedperfectlywiththecompanyvision.

Atthetime,hospitalsweresmallandwere managedsolelybydoctors.Asanindividual doctor,investingtimeinoverseeingalltheaspects ofthehospital,rangingfromqualityto administration,wasadifficulttask.

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Atthetime,hospitalsweresmallandwere managedsolelybydoctors.Asanindividual doctor,investingtimeinoverseeingallthe aspectsofthehospital,rangingfromqualityto administration,wasadifficulttask.

ByassociatingwithAHLL,thedoctorcould leveragetheexperienceofApolloinhospital managementandfocusontheircore competencyofclinicalpractices.AsBOMA partners,theycouldabsorbtheintrinsic benefitsofthebrandpartnerships,Apollo goodwill,itswell-connectednetworkof consultantsandgrouphospitals,umbrella marketingacrossthecountry,andtech leadershipsupport.

Anotherbenefitistheexpansionstrategyof Apollo.Givenitsstrategicobjectives, establishingnewhospitalsandpursuing organicgrowthmightnotalwaysconvert.In theseinstances,theBOMAarrangementoffers aremarkabledegreeofflexibility,enabling Apollotoventureintomarketsthatdeviate fromitstraditionalexpansiontrajectory

Overall,theBOMAarrangementisastrategic toolthatnotonlyensuresefficientmarket entrybutalsoalignswithitscoremissionof providingqualityhealthcareservicesin diversegeographicregions.

LegacyofSuccess

Apolloisveryconsciousofitslegacyandits presenceandimpactwithinthehealthcare industry.WhenApollocollaborateswith franchisees,itlendsitsexpertisetomanaging andstreamliningtheiroperations.AtAHLL, allbusinessformatsareinsync,cateringto peopleineverystageoftheirlifecycle.

Majorsuccessfactorsfor BOMAHospitals:

Ÿ Apollogetsinvolvedrightfromtheinceptionofthe projectandcontributestothedesigndevelopment,project execution,budgeting,andfeasibilitystudyoftheproject.

Ÿ Forexistinghospitals,Apollo,throughitsexpertprojects team,suggeststhemodificationsrequiredtospruceupthe facilityandenhancetechnologytomeetthecommunity's expectations.

Ÿ ApolloimplementstheclinicalprotocolsandSOPs developedusinglearningsfromthelast40yearsof experiencethroughdeliveringworld-classhealthcare services.

Ÿ Apolloextendstheprocurementsupportandbenefitsof group-wideratecontractsagreedwithmajorequipment vendors.

Ÿ Apollofacilitatesonboardingconsultantsfromvarious clinicalstreamsandsourcingtalentedmanagement personnelthroughdifferentchannels.

Ÿ ApollofacilitatestheimplementationofitslegacyHIS system,customizespricelistsperthelocalmarket dynamics,andrenegotiatescontractswithTPA, insurance,andcorporates.

Ÿ Apolloensuresthatthehospitalgetscommissionedasper thebestindustrypractices.

Ÿ Post-commissioningpartnerhospitalsbecomeapartof theregularbusinessandoperationsreviewsystem.

| January 2024 14
ApolloSpectraHospital_Ameerpet,Hyderabad

TailoredHealthcareServices

AHLLprovidesacomprehensiverangeofhealthcare servicesbythoughtfullyorganizingthemintoeight StrategicBusinessUnits(SBUs).Theflexibilityofthe BOMApartnershipmodelallowsthepartnerstochoose andpluginanyoftheseservicesbasedontheir requirementsandbusinessobjectives.Moreover, integratingtheseservicesintheirhospitalfacilityentails zeroorminimalfinancialimplications.

● ApolloSpectra:ApolloSpectracameinto existencetoprovideworld-classfacilitiestopatientsfor electivesurgeriesatareasonablecostundertheApollo Groupumbrella.Apollohastheexpertiseofawhole teamofspecialistsacrossallitsfacilitiesandiswellequippedtoperformproceduresacrossspecialtieslike ENT,GeneralSurgery,Gynaecology,Ophthalmology, Orthopaedics,Paediatrics,Plasticandcosmetic, Radiology,andUrology

● ApolloCradle&Children’sHospital:Thegoal istosatisfytheserviceandqualityneedsoftheyounger generationofIndianwomen.Withadvancedantenatal, birthing,post-partum,neonatal,andgynecological services,ApolloCradleisahealthcarefacilityof internationalstandards.AHLLstrivestodeliverclinical excellence,personalizedcare,andtheutmostcomfortto themother,thebaby,andthefamily

● ApolloDiagnostics: Itbringsdiagnosticservices ofinternationalstandards,withthemostadvanced technologyandexpertise,atacenternearyou.AHLL offersafullspectrumofservices,frombiochemistry andclinicalpathologytoserology

● ApolloDialysis: Itistheleadingdialysisservice networkinIndia.Itprovidesworld-classdialysis facilitieswithanimpeccabletrackrecord,supportedby state-of-the-artinfrastructure,experienced Nephrologists,andCertifiedTechnicians.

● ApolloFertility:Itoffersseveralspecialized investigativeproceduresforinfertilityinmenand women,givingcouplestheirverybestchanceofa successfulpregnancyandexperiencingthejoyof parenthood.TheteamincludesspecialistsinFertility, Reproductivemedicine,reproductiveendocrinology, Embryology,Andrology,fertility-enhancing Laparoscopicsurgeons,andcounselors.

● ApolloClinics:Itaimstodeliverqualityhealthcare ofinternationalstandardstoneighborhoodsacrossIndia. Apolloisanintegratedmulti-specialtyclinicthatoffers SpecialistConsultation,Diagnostics,PreventiveHealth Checks,andPharmacy,allunderoneroof.Withstate-ofthe-artfacilities,expertphysicians,best-in-class technology,trainedtechnicians,andsupportstaff,Apollo Clinicsiswell-versedinhandlingtheprimaryhealthcare needsofafamily.

● ApolloSugarClinics:Itprovidesend-to-endcare andmanagementofdiabetesandrelatedcomplications.Set upwithaccurateandprecisediagnosticsandevidencebasedtreatmentprotocols,eachofthesecentersoffersits expertisewithateamofexperiencedDiabetologists, Endocrinologists,Diabeteshealthcoaches,andDiet counselorswhohaveaproventrackrecord.

● ApolloDental:Itisanintegratedmulti-specialty dentalclinicthatoffersSpecialistConsultationsand solutionstoallgenericandcosmeticdentistryneedsunder oneroof.Withconsistentlyupgradedtechnologies, renownedspecialists,andeasyaccessthroughonline consultationsforremotepatients,ApolloDentalhandles anydentalmedicaleventuality.

EachcenteroffersthelatestergonomicDentalChairs, Lasers,globallyacclaimedDentalImplants,DigitalX-rays, Dentalmicroscopes,andtop-of-the-lineequipmentto ensuretreatmentsofglobalstandards.Moreover,these treatmentsaremonitoredstrictlywithstandardized protocols.

Cover Story www.theenterpriseworld.com | 15
BIGApolloSpectraHospital,Patna

AdaptingwithBOMA

Attheoutset,BOMAwasan innovativepartnershipmodelthat disruptedthehealthcareindustry.To date,ithasbeenahighlysuccessful businessformatforApollo.The primaryinspirationforthismodel camefromthehotelindustry,where thefranchiseeshavebeena transformativeforceforasuccessful expansionstrategy.

However,thehospitalindustrypresents auniquesetofchallenges,vastly differentfromthehotelsector To tacklethesechallenges,Apollo successfullyadoptedthefranchising strategyforinorganicexpansion. Healthcareisinherentlycomplexdue toitscriticalroleinpublichealthand themultifacetednatureofhealthcare services.Thehospitalenvironment demandsstringentcompliancewith ever-evolvingmedicalstandardsand regulations.

Despitetheevolvingfranchising sector,Apolloremainsconstantwithits unwaveringcommitmenttoclinical excellenceandpatientsafety AHLL

focusesondeliveringhigh-quality healthcareservices,andensuringthe safetyandwell-beingofitspatientsis anuncompromisingprioritythat definesitscorevaluesandstandards.

Today,Apolloensuresitsservices workwellwithhowthefranchise businessischanging.Asitoperates smallandboutiqueformatmultispecialtyhospitals,Apollohasthe advantageofbeingmoreflexibleto quicklyadapttothechangingneedsof thelocalmarketdynamicsandthe BOMApartnersthanlargehospital set-ups.

LeveragingTechnology

Asalegacybrandof40+years, Apolloisamongthepioneersand leadersofhealthcare.Hence,itensures thatwhateverlearningsithasacquired overtheyears,itshareswithits partnerstoencouragetheirgrowthand success.ThegoalforApolloistosee thatthepartnerhospitalmaintainsthe samelevelsofexcellencethroughthe mostupgradedmedicaltechnologyas theteamsupportstheminsettingup thetechspecsoftheequipment.

Allpartnerhospitalsusethe preferredApollo‘HIS’system, whichisrefinedandcustomized basedonitsexperienceinmanaging multiplehospitalsformanyyears. Apolloalsosupportsgrowthand developmentactivitiessuchas digitalmarketing,CRM implementation,andregulartraining sessionsforadminstaffand consultantspecialists.

Aone-stophealthcareSolution

Allmarketsaredifferent.Apollois constantlyworkingtowards customizingitsservicesand consultantengagementmodelsas wellaspricingviathelocalbusiness dynamicsofthepartnerlocation.By integratingotherAHLLmodules suchasDiagnostic,Dialysis,Clinics, andotherSBUs,Apollobecomesa one-stopsolutionforallthe healthcareneedsofthepartner hospitals.

EvolutionofLeadership

Leadershipinfranchisesystemshas comealongway.Before,itwas predominantlytop-down,where leaderscalledtheshots.Now,itisall aboutcollaborationandteamwork. Overtheyears,everyonehasbecome morediscerning,andpartner hospitalswanttogobeyondjust brandaffiliation.Asaresult, franchisorshavetomakesurethey cansupporttheclinical,admin,and day-to-dayoperationsoftheir franchisees.

Today,leadershipmustbemindfulof cultureswherequality,compliance, innovation,andsustainabilityaretop priorities.Plus,conflictresolution skillsareamust.Comparedtoolder leadershipstyles,ithasbecomea partnership-centeredapproachwhere franchisorsandfranchiseesthrive.

| January 2024 16

However,collaborationhastoworkbothways. Partnerfranchiseesmustinvestequallyandbe willingtoprovideinfrastructureandtechasrequired. Justasastablemarriagetakesalotofeffort, understandingtheexpectationsofpartners,and orchestratingtheactivitiesseamlesslytocreatea win-winsituation,franchisingalsofunctionsonthe samedynamics.

AtApollo,whilethepartnernetworkhospitalisa separatevertical,itworksinsyncwithexisting businessunitstolearnandimplementthebest practicesatthepartnerhospitals.

AccomplishmentsofLeadershipJourney

Asthemanagementheadofthepartnernetwork since2019,theteamhasspearheadedtheBOMA partnershipinitiative,markingasignificantstride towardsextendinghealthcareaccesstounderserved populations.Todate,theyhavesuccessfullysigned 15contracts,withninehospitalsalreadyoperational andsixothersinvariousstagesofdevelopmentas greenfieldprojects.Thisconcertedeffortunderscores theircommitmenttoexpandinghealthcare infrastructureandservices,ensuringthatindividuals acrossTier1,Tier2,andTier3citieshaveaccessto qualitymedicalcare.

StrikingaBalance

Anyorganizationanditspeoplethriveinapositive,inclusive,and growth-orientedworkplaceenvironment.Themanagement highlightsthathappy,engaged,andfulfilledemployeesarethe backboneofanysuccessfulorganization,andtheyaspiretonurture themwithintheirteam.

Regularfeedback,peerandseniorreviews,andperformance evaluationslethisteamsetandachievetheirgoals.Thisfeedback loopallowsthecompanytoaddressconcernsandcelebrate successes.Throughcontrolledautonomyanddecision-making authority,theteamassumesownershipoftheirroles.

TheuniquenessoftheAHLLteamliesinitsabilityandfocusto strikeabalancebetweenApolloandthepromoters.Apartfroma fewseniorpositions,mostatApolloarepositionedinPartnerroles andgetaccesstoitsprocesses,protocols,andoperationactivities.

ApolloimplementsitsHRpoliciesconsistentlyacrossBOMA partnerhospitals,upholdingthehigheststandardsofpersonnel managementandemploymentpractices.Furthermore,Apollo prioritizestheongoingtraininganddevelopmentofitsclinicaland non-clinicalstaff,apracticeoverseenbyseasonedtrainersfromits LearningandDevelopment,Nursing,andQualitydepartments. Thisapproachenablestheteammembers,bothinhealthcareand administrativeroles,toreceiveregularopportunitiesforskill enhancementandprofessionalgrowth.

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ApolloSpectraHospital,GreaterNoida-Reception

Cover Story

Franchisee:MatchingtheCriteria

AtApollo,theselectioncriteriaforaBOMApartnertranscendsmerefinancialmetrics.Inadditiontoevaluatingthe infrastructureandfinancialviability,Apolloprioritizespartnerswhoalignwithitsstrategicvision.AHLLseekscollaborators whoshareitsvaluesandlong-termobjectives,fosteringapurpose-driven,values-alignedpartnership.

| January 2024 18

ApolloSpectraHospital,GreaterNoida

ThinkingLongTerm

TheadviceforentrepreneurslookingtopartnerwithApollo oranyotherhospitalistoadoptalong-termperspective overquickfinancialgains.Thehealthcarebusinessis uniquefromotherventuresbecauseittouchessomany livesandisdeeplyconnectedwiththewell-beingofsociety atlarge.Overall,itisaventurethatdemandspatience, dedication,andafocusonbuildingatrustedbrandthrough apatient-centricapproach.

Offeringafinancialperspective,itisacknowledgedthatthe Capexmaybehigherthaninotherbusinesses,butthe returnsareaswell.Forgreenfieldprojects,thegestation periodisslightlyprolongedcomparedtootherventures, andonemustunderstandthattheramp-uptakestime. However,itisasustainablebusinessmodelmeantforthose whowanttopursuegrowthandlong-termsuccess.

Throughupsanddowns

Byitsreputation,Apollohasbeenabletoattracthighpotentialcandidatesandhashelpedthemunlocktheirtrue potentialtoexpandandsucceed.Asitprogressesinthe journey,itstrengthensitsclinicalprogramsbybringingin thelearningamassedoverfourdecades.Withtheadvantage ofanextensivenetwork,Apolloalsousesitsstrengthto hiretherightresourcesandpeople.

Fromthebeginning,Apolloimplementschecksandbalances toavoidcrisesaheadoftime.Moreover,thecompany continuouslykeepsatabonthefinancial,operational,and statutorymeasuresofeachhospital.Additionally,apartfrom revenue,Apollosharescost-controlmethods,anditspartners canseeavisibledifferenceintheiraccountledgers. Thein-houseApolloqualityteammeasuresthequality indicatorsonadaily,weekly,andmonthlybasistoaddress deviationsappropriately.Thissetofsystemshelpedthe companythroughoutthepandemic,asitincreasedits outreachtoconnectwithmorepeoplewhileguidingits partnersinday-to-daymanagement,maintaininghygiene protocols,andprovidingSOPSforthebestclinicaloutcomes.

ExpandingintoNon-metroCities

Althoughmostwell-equippedandrenownedcorporate hospitalsresideinmetrocities,alargepopulationofIndians remainsunservedinnon-metrocities.Apollo,asan organization,sensesanopportunitytoexpandinorganicallyin theselocationstocreateaclusterofownedandpartnered hospitals.

Apolloisconfidentthat,forAHLL,thenumberswillcontinue togrowinselectdomesticandinternationalmarkets.Its focus,however,isonfindingandcollaboratingwithpartners whoembodyandsharethesethreevalues—vision,passion, andzeal.

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The Most INSPIRING BUSINESSWOMEN to Follow

Keepingtimewitheleganceandprecision,thereexistsanamethatstandsaboveallothers—Rolexwatches.Thesetimepieces arenotmerelyinstruments,theyarefinelycraftedchaptersintherichhistoryofhorology—aplaceofweavingalegacyof sophisticationandinnovationinbetweenmetalpieces.Themereutteranceof“Rolexwatches”createsanatmosphereof timelessluxury,wherepainstakingcraftsmanshipmeetsstate-of-the-arttechnology

FromtheiconicOysterPerpetualtotheillustriousSubmariner,everyRolexcreationisalivinglegendandasymbolof unwaveringdedicationtoexcellence.SuchaccuracywouldhavebaffledEinsteinhimselfinhistheoriesoftimeandrelativity. Letusunravelthemystiqueconcealedbehindthecrown,whereeachtickofaRolexwatchresonateswiththeheartbeatof horologicalmastery

TheBeginningofaNewEra

FoundedbyHansWilsdorf,ratherthanany“HansRolex”asanyofuswouldhaveguessed,intheyear1905,inLondon.He aimedtomakeitshortandsimple,anamethatwaseasytopronounceinanylanguage.Moreover,theterm“Rolex” possessedonomatopoeicqualities,echoingasoundlikethewindingofawatch.Itispracticalityshonethrough,giventhatthe namewascompactenoughtoeffortlesslygracethefaceofanywatch.

Wilsdorf’sprofoundappreciationforprecisiontimekeepingpavedthewayfortheRolexwatchestosurgeinpopularityin 1910.ThatpivotalyearmarkedahistoricmilestoneasRolexbecametheinauguralwristwatchtobeartheesteemedSwiss certificateofchronometricprecision,bestowedbytheofficialWatchRatingCentreinSwitzerland.Thiscertificationproved transformative,sparkinganotableuptickinsales.ReadMore...

w w w . t h e e n t e r p r i s e w o r l d . c o m
CaseStudy

Tasmania,anislandstateofAustralia,islocated240kilometerstothesouthofthe

Australianmainland.ItisseparatedbytheBassStrait,withthearchipelago, containingthesouthernmostpartofthecountry.Itaccommodatesthesurrounding 1000islandsandisthe26thlargestislandintheworld.ItisAustralia'sleastpopulatedstate withapopulationof5,69,825residentsasofDecember2021.Itconstitutesasouthern extensionoftheGreatDividingRange.ThestateowesitsnametotheDutchexplorernavigatorAbelJanszoonTasman,whobecamethefirstEuropeantodiscovertheislandin 1642.

Till1856,theislandwasknownasVanDiemen'sLand,namedforAnthonyVanDiemen,the governoroftheDutchEastIndieswhohadsentTasmanonhisvoyageofexploration.An alternativesettlementwasestablishedbyCapt.DavidCollinsatadistanceof5kmtothe southin1804inSullivansCovetothewesternsideofDerwent,wherethefreshwateris availableinabundance.ThissettlementbecameknownasHobartTown,latershortenedas Hobart,whichwasnamedaftertheBritishColonialSecretaryofthattimeLordHobart.

Atleast,one-fifthofTasmaniaisaWorldHeritageArea.Theareawhichcovers1.58million hectaresincludesnationalparks,marine,andforestreserves.Soitissafetosaythat20%ofit isaWorldHeritageAreathatextendsfarSouthtotheCradleMountaininthewest.Manyof theremotedestinationsthatareuntouchedorunspoiledareaccessibleonlybyfoot.

| January 2024 22

Experience Nature Like Never Before

www.theenterpriseworld.com | 23

Culture:

ShellstringingisaculturalpracticeinTasmania.Itcomprisescollecting, preparing,andstringingshellstomakenecklacesandbraceletsbyTasmanian Aboriginalwomen.Thisskillandknowledgeispassedfrommothersto grandmotherstotheirdaughtersandgranddaughters.Ithelpstomaintainan importantlinkbetweentraditionalandcontemporaryAboriginallife.

Neckace-makingisoneofthemostsignificantculturaltraditionsofTasmanian Aboriginalwomen.Atraditionasancientasithascontinuedwithout interruptionbeforetheEuropeancolonizationin1803.Whereascolonization disruptedordestroyedsomuchofitsAboriginallifeandheritage,necklacemakinghasnotonlycontinuedbutevolved.

Famousfoods:

Tasmaniaisfamousforitsfoodsandfreshproducetoo. Thehigh-qualityfoodandwineareliterallyatyour doorstepwhenyou'rethere.Ifyou'reafoodenthusiastand onewhoisexcitedabouttryingoutnewdelicaciesthisis theperfectplaceforyou.Fromscalloppiestowineand someofthebestfreshlyshuckedoysters,thereisplentyto eatanddrink.Ifyou'reluckyenoughtovisittheaesthetic stateofTasmania,youcannotignorethedishesand producetheislandhastooffer.

| January 2024 24

Blacktruffles:

Wildabaloneandlobster:

Tasmaniaiswell-knownforitsmarinelifeandgreatfishing.Itisone oftheworld'stopsuppliersofwildabaloneandlobster.Apartfrom havingthecleanestairintheworld,italsoenjoysthethroneofthe world'slastremainingunspoiledmarineenvironments.Withouta doubt,itisthewildabaloneandlobsterthatthriveonTassie's coastline.Thisseafoodisrecognizedassomeofthebestintheworld.

Eversincethefirstblacktrufflewasdiscoveredinnorthern Tasmaniain1999,theislandhasemergedasoneofthebigger producersofthisdelicacy.Franceisn'ttheonlycountryknownfor truffles.Theblacktrufflesavailableherearealsofamousasmuch asinFrance.Detectionofthesamemightbedifferent,butthe exposureisalmostthesame.

Premiumfreshfruitsandvegetables:

Farmedsalmon:

TheAtlanticSalmonisthesalmonofchoiceformanychefsnotjustin Tassie,butaroundAustraliaand,indeedtherestoftheworld.The crystalclearandpollution-freewaterisjustperfectforbreedingtopqualitysalmon.Thefactisthatit'srichinomega-3fattyacids, vitaminsandminerals.Itmeansittastesgood,andishealthyforyou too,ararecombo,isn'tit?

Youwillhardlyfindabetterplaceforfreshfruitsandvegetables anywhereelseintheworld.Whetheryouliketobuyfreshfruitsand vegetablesfromthesupermarket,freshfarmers'produceisasceneyou can'tfindanywhereelseintheworld.Theperfectenvironment,ideal climate,andpassionatefarmersaresomeofthekeyreasonswhythestate issolovedforitsamazing,fresh,andpremiumfruitsandvegetables.

Leatherwoodhoney:

Leatherwoodhoneymaynotbeassweetastheotherones,butthis isthick,creamy,andamber-yellow,withauniqueflavorand pungency Therainforestsinthewesternpartoftheislandenjoy plentyofrainfall.Itresultsinthehumongousgrowthofleatherwood trees,whichgiveplentyofhoneytoproduceinhugequantities.

www.theenterpriseworld.com | 25

PlacestoVisitinTasmania:

Theislandhasawholelotoftouristattractions.Greenery,nature,and cleanairarethehighlightsoftheislandstate.

TasmanNational Park:

Natureloverswillhaveagoodtimehere, especiallypeoplewholovesolitude.An extremelygoodwaytoreplenishyour energylevels.Thisparkprotectsthemost incrediblecoastalscenery.Thewind-lashed Tasmanpeninsulais56kilometerseastof Hobart.Yougettoexperiencetheraw beautyofnaturehere.

BrunyIsland:

TheBrunyIslandisapopularspotfora daytripfromthecityforfoodiesandnature buffs.Theislandliesacrossthe D'EntrecasteauxChannelfromtheseaside townofKettering.It'sfamousforits flavorsomefoodssuchashandmade chocolates,localberries,artisancheeses, andsucculentseafood.

ThreeCapes Track:

Thisfour-day,three-nighthike,issuitable forallkindsofhikers,evenchildren.It's oneofthebestthingstodoinTasmania, duringtheSpringseason.Hard-corehikers canalsobearthehikingduringwinterif theyaredressedappropriately.

| January 2024 26

CataractGorge, Launceston:

Amere15-minuteleisurelywalkalongthe riverfromLaunceston'scitycenter,thewild andromanticCataractGorgeisadeepchasm carvedovermanycenturiesbytheSouthEsk River.Sharpwalkingpaths,builtin1890cut intotheclifffaceonbothsidesofthegorge, offeringheart-stoppingviewsoftheriverfar below.

Salamanca Place:

At,Salamancaplacethereareadoringly restoredsandstonebuildings,andisatourist hubintheheartofHobart'shistoricwaterfront. Builtbyconvictsbetween1835and1860, thesebeautifulGeorgianbuildingswereonce warehousesalongthecommercialcenterofold Hobart.Today,therearehouseartgalleries, cafes,restaurants,shops,etc.

FascinatingFactsaboutTasmania

Ÿ Tasmaniaistheworld's26thlargestislandandithasthe world'scleanestair

Ÿ Itwasfirst“discovered”onNovember24,1642,byAbel Tasman.

Ÿ Morethan20%oftheislandisTasmanianWildernessWorld HeritageArea

Ÿ HobartisthecapitalcityofTasmania,theseconddriest capitalcityinAustralia.

Ÿ Ithastheoldesttreesintheworldandhasdenserainforests.

www.theenterpriseworld.com | 27

4 Expert-Approved Solutions to Small Business Failure

Intheunpredictableworldof

entrepreneurship,smallbusinesses oftensailthroughchoppywaters. Whilemanysetoutwithhighhopes, thesadrealityisthatasignificant numberofthemencounterthegrim specteroffailure.Accordingtothe SmallBusinessAdministration, approximately20%ofnewbusinesses don’tmakeitpasttheirfirsttwoyears, andnearlyhalfdon’tsurvivebeyond theirfifth.Thismayseemlikea dishearteningstatistic,butthegood newsisthattherearesolutionstosmall businessfailurethathavebeenexpertly approved.Thesesolutionscanhelp steeryoursmallbusinessawayfrom theabyssandtowardsapathoflongtermsuccess.

Toaddresstheissueofsmallbusiness failureeffectively,it’sessentialto understandthecommonchallengesthat entrepreneursfaceandthebest strategiestoovercomethem.This articlewillexplorefourexpertapprovedsolutionstosmallbusiness failure,providinginsights,advice,and actionablestepstoempowersmall businessownersandentrepreneurson

theirjourneytosustainablegrowth andsuccess.Let’sdelveintothese solutionsandlearnhowto navigatethechallengesof entrepreneurship.

1.RobustFinancial Management

Oneoftheleadingcausesofsmall businessfailureisinadequate financialmanagement.Regardless ofyourindustryorthesizeofyour venture,financialstabilityisa cornerstoneofsuccess.Withouta clearandsustainablefinancial strategy,yourbusinessissailing withoutarudder,atthemercyof turbulenteconomicwaters.

Toaddressthiscriticalissue, expert-approvedfinancialsolutions canhelpsmallbusinessesthrive. Hereareafewtipstoconsider:

Budgeting:Creatingawellstructuredbudgetisthefoundation ofsoundfinancialmanagement.It helpsyoumonitoryourexpenses, setrevenuetargets,andallocate resourcesmoreefficiently.

CashFlowManagement:Ensuringa steadycashflowisessentialforyour business’ssurvival.Delayedpayments fromclients,overextendedcredit,and inconsistentcashflowcanwreakhavoc onyourfinances.Implementeffective accountsreceivableandpayable systems,andkeepacloseeyeonyour cashflowstatement.

EmergencyFund:Establishan emergencyfundtocoverunexpected expensesanddownturnsinyour business.Thisfinancialcushioncanbe alifesaverduringtoughtimes. SeekProfessionalAdvice:Consult withfinancialexperts,suchas accountantsorfinancialadvisors,to guideyouinmakinginformed financialdecisions.Theycanhelpyou understandtaximplications,maximize deductions,andoptimizeyourfinancial strategy

| January 2024 30

Expert-Approved Small

InvestinAccountingSoftware: Leveragetechnologybyusing accountingsoftwaretostreamlineyour financialmanagement.Thesetoolscan simplifytasksliketrackingexpenses, managinginvoices,andgenerating financialreports.

Byimplementingthesefinancial managementsolutions,you’llbebetter equippedtonavigatetheunpredictable financialterrainthatsmallbusinesses oftenface.Withastrongfinancial foundation,youcanfocusongrowing yourbusinessandachievinglong-term success.

2.EffectiveMarketingand

Branding

Intoday’scompetitivebusiness landscape,gettingnoticedisa

significantchallengeforsmall businesses.Withoutastrongmarketing andbrandingstrategy,youriskfading intoobscurity,whichcanleadto failure.Toaddressthisissue,experts recommendthefollowingsolutions:

IdentifyYourTargetAudience:Oneof themostcommonmarketingmistakes istryingtoappealtoeveryone.Instead, focusondefiningyourtargetaudience. Understandtheirneeds,preferences, andbehaviors,andtailoryour marketingeffortsaccordingly

DevelopaUniqueBrandIdentity:A distinctivebrandidentitysetsyour businessapartfromcompetitors.It encompassesyourlogo,colorscheme, tagline,andoverallimage.Astrong

brandidentitycreatesrecognitionand trustamongconsumers.

LeverageOnlineMarketing:Intoday’s digitalage,onlinemarketingis essential.Utilizesocialmedia,email marketing,searchengineoptimization (SEO),andonlineadvertisingtoreach abroaderaudience.Engagewithyour customersthroughsocialmedia channelsandestablishastrongonline presence.

ContentMarketing:Createvaluable andinformativecontentthatresonates withyourtargetaudience.Thisnot onlyattractspotentialcustomersbut

www.theenterpriseworld.com | 31

alsopositionsyouasanauthorityin yourindustry.Regularlyupdatingyour websitewithblogposts,articles,and othercontentcanhelpimproveyour searchenginerankingsanddrive organictraffic.

MeasureandAdjust:Analyzethe resultsofyourmarketingefforts regularly.UsetoolslikeGoogle Analyticstotrackwebsitetraffic, engagement,andconversionrates. Adjustyourstrategiesbasedonthedata toensurecontinuousimprovement.

Effectivemarketingandbrandingare crucialforsmallbusinesseslookingto surviveandthriveinacompetitive market.Bydefiningyourtarget audience,creatingacompellingbrand identity,andleveragingonline marketingtechniques,youcanincrease yourvisibilityandattractnew customers,ultimatelydrivingyour businesstowardsuccess.

3.StrongOperationalEfficiency Operationalinefficienciescanquickly leadtosmallbusinessfailure.Wasting resources,time,andenergyon inefficientprocessescancrippleyour growthpotential.Toaddressthisissue, considertheseexpert-approved solutions:

StreamlineBusinessProcesses: Evaluateyourbusinessoperationsand identifyareaswhereyoucanstreamline processes.Eliminateunnecessarysteps, automateroutinetasks,andfindwaysto increaseefficiency.

InvestinTechnology:Embrace technologytoenhanceoperational efficiency.Usesoftwareandtoolsthat helpmanageinventory,tracksales,and optimizesupplychainmanagement. Customerrelationshipmanagement (CRM)systemscanalsoimprove customerserviceandretention.

StaffTraining:Ensureyouremployees arewell-trainedandequippedto performtheirrolesefficiently.Investin trainingprogramsandencourage ongoingskilldevelopment.Anefficient teamcansignificantlyimpactyour business’ssuccess.

InventoryManagement:Efficient inventorymanagementprevents overstockingorunderstocking, reducingcostsandimprovingcustomer satisfaction.Implementinventory trackingsystemstomonitorstock levelsandsalestrends.

QualityControl:Deliveringquality productsorservicesisessentialfor long-termsuccess.Implementquality controlmeasuresandregularlyassess yourofferingstomeetorexceed customerexpectations.

Byfocusingonoperationalefficiency, youcanoptimizeyourresources, reducecosts,andenhancecustomer satisfaction.This,inturn,willincrease yourchancesofsmallbusiness success.

4.AdaptationandInnovation

Thebusinesslandscapeiseverevolving,andsmallbusinessesthatfail toadapttochangescanquickly becomeobsolete.Toavoidthispitfall, expertsrecommendthefollowing solutions:

StayInformed:Keepup-to-datewith industrytrends,marketshifts,and emergingtechnologies.Subscribeto industrypublications,attend conferences,andnetworkwith professionalsinyourfield.

EmbraceInnovation:Don’tbeafraid toinnovateandintroducenew products,services,orprocesses. Innovationcansetyouapartfrom competitorsandattractabroader customerbase.

CustomerFeedback:Activelyseek andlistentocustomerfeedback.

Understandtheirevolvingneedsand preferences,andusethisinformationto improveyourofferingsandcustomer experience.

DiversifyRevenueStreams:Relying onasingleproductorservicecanbe risky.Diversifyyourrevenuestreams tospreadriskandgenerateincome frommultiplesources.

AdapttoMarketChanges:Be flexibleandresponsivetomarket changes.Ifyouseeashiftincustomer behaviororpreferences,adjustyour strategiesaccordingly Adaptationandinnovationarecrucial forsmallbusinessestothriveinan ever-changingmarketplace.Bystaying informed,embracinginnovation,and beingreceptivetocustomerfeedback, youcanpositionyourbusinessto withstandchallengesandflourishin thelongrun.

Conclusion:

Smallbusinessfailureisadaunting reality,butit’snotaninevitability.By implementingexpert-approved solutions,suchasrobustfinancial management,effectivemarketingand branding,strongoperationalefficiency, andacommitmenttoadaptationand innovation,smallbusinessownerscan navigatetheturbulentwatersof entrepreneurshipandchart

| January 2024 32

READ LEADER’ S IN SPO

THE

ENTERPRISE

WORLD

TED speaker and Co- Founder and CEO Plazus Technologies Inc. GalyaWestler
TLIGHT AUGUST 2023

Beautiful Design Makes A Beautiful Life: Beautiful Design Makes A Beautiful Life:

TIFFANY & C TIFFANY & C

| January 2024 34

ThehugebodiesofwaterreflectedtheMetroidshowerpassingby.Theeruptionsresembledfancyfountainswithred glitterouslavaflowingintothesea.Itseemslikeapartyofchaosbutthemostbeautifulone.Asifnaturewascreating itself,formingmountainsandsea,underthelightofthenewlyformedmoon.Onemorethingwascreatedinthis ceremonyofchaoswhenthecarbonatomscollidedwitheachotherinextremeconditions.Asthepressurewasabout50,000 timesthepressureatthesurfaceandthetemperatureexceeded1600°C,thecarbonatomsbondedwith4others,anddiamonds wereformed.

Allofthis,foraman(CharlesLewisTiffany,1812–1902)toputthatdiamondonaringbillionsofyearslaterandestablish Tiffany&Co.—“thestoreofhisdream.”Henotonlysoldjewelrybutgavetheworldsomethingtodreamabout.Hewas sellingadreamthatwouldchangethefaceofluxuryandjewelryforever Thisarticleisthebreakdownofthisverydreamand thecompanysellsit.

& CO. & CO.

www.theenterpriseworld.com | 35

Time Line of Tiffany & Co.

Foundedin1838byCharlesLewis Tiffany(1812–1902)andhispartner,J.B Young,asTiffany&Young,a“fancy goods”storeonBroadwayinNewYork. CharlesLewisTiffanyintroducedthe iconicbluecolorinthe1840s.

CharlesLewisTiffanytooksolecontrol, renamingitTiffany&Co.

MovedtoagrandstoreinUnionSquare in1870.BecameahubforNewYork’s elite,knownforJaponesque-style silverwareanddiamondjewelry.

PurchasedtheTiffanydiamond,a massive128.54-caratcanaryyellow stone.

IntroducedtheTiffanysettingin1886. Wonawardsfordesignsatinternational exhibitions.

LouisComfortTiffanybecamethefirst designdirectorin1902.

FlourishedthroughtheArtDecoeraand embracedthe30sRetroorcocktailstyle.

1870s 1880s 1920s&30s 1853 1878 1900s 1970s&80s DesignersElsaPeretti(1974)and PalomaPicasso(1980)joined. 1830sand40s
| January 2024 36

TheTiffany&Co.Foundationwas established,committingto environmentalsupport.

2015

LaunchedtheDiamondCraftJourney, revealingthecountriesoforiginfor diamonds.

Introduceddesigner-jewelerJean Schlumbergerin1956.

2000

Committedtonet-zerogreenhousegas emissionsby2050.

2020

UnveiledtheLandmarkat57thStreet andFifthAvenue,featuring10floorsof stunningcreationsandcustomworks.

1950s 2023
www.theenterpriseworld.com | 37

ProductsandLegacy:

TheDiamondKing

CharlesLewisTiffany,avisionaryentrepreneurdrivenbyaprofoundpassionforacquiringthemostexceptionalandrare gemstones,laidthefoundationforluxuryaswerecognizeittoday.In1837,heinauguratedTiffany&Co.inNewYorkCity asapurveyoroffancygoodsandstationery.Mr.Tiffany’sground-breakingacquisitionofjewelsfromFrencharistocrats duringthe1840smarkedapivotalmoment.HeintroducedmajorgemstonestotheUnitedStatesforthefirsttime.Thismove reachedwidespreadattention,andthepressawardedTiffanytheillustrioustitleof“TheDiamondKings,”adistinctionthe Houseproudlyupholdstothisday

TheModernEngagementRing

ThefirstTiffanySetting,introducedin1886,hadasinglediamondliftedabovetheringbysix platinumprongs.MelvynKirtley,thetopgemexpertatTiffany,says,“Theseprongsliftthe diamondofftheringandintothelight.”Liftingthediamondoffthefingerandlettinginasmuch lightaspossiblemakesitsparklealot.

TheBlueBox

Ahundredyearslater,Tiffanyaddedthefinishingtouchtotheirfamouspackaging.Awhitesatin ribbononalltheirBlueBoxes.It’scarefullytiedintoabow,andwithagentlepull,itopensupto showtheamazingTiffanyiteminside.TheBlueBoxisknownalloverasthemostfamousand wantedpackagingglobally.Itisatraditionthatgoesbacktothetimeourfounderstartedthe company.

LegacyofGemstones

Tiffanyhasafascinatinghistoryrootedinexplorationandaloveforraregems,drivenbythe passionofitsfounder.Backintheday,Charlesandhisgemexpertsnotonlyshowedtheworld brand-newgemstonesbutalsoplayedabigroleinmakingTiffany&Co.afamousjeweler worldwide.OnesuchgemintroducedbyTiffanyin1968istanzanite,knownforitsbeautifulblue colorandnamedafterTanzania,whereitcomesfrom.Tiffany’scollectionalsoboastscenturiesoldfavoriteslikerubies,emeralds,andsapphires,alloftop-notchquality.

SymbolofLove

CharlesTiffanywasthefirstjewelertomakediamondringsasymboloflove.In1886,hecreated theTiffanySettingwhichbecameaworld-famousengagementring.Forover130years,thisring hasbeenapartofmanyincrediblelovestories.Thisinnovationdidn’tjustmakeTiffany&Co.a jewelrystore,itturneditintoaplaceknownforclassicdesigns,amazingcraftsmanship,and celebratinglove.

| January 2024 38

(Source:https://www.statista.com/)

Tiffany&Co.hasconsistentlydemonstratedrobustbrandvalue ontheglobalstage,withanoteworthytrajectoryfrom2010to 2023.In2023,theiconicbrandreachedastaggeringbrand valuationofaroundsevenbillionU.S.dollars,showcasinga remarkablesurgeofnearly500milliondollarsfromthe precedingyear.Thissignificantincreaseunderscoresthe enduringappealofTiffany&Co.alongwithitsabilitytoelevate brandvalueinacompetitivemarket.

Let’sbreakdownthefactorsthatresultedintheexponential growthofthisbrand.

• ConsistentFinancialPerformance:Thebrand’sfinancial strengthisevidentinthenearly500milliondollarsurgein brandvaluecomparedtothepreviousyear,highlightingits abilitytonavigateandexcelinthemarket.

• EnduringAppeal:Tiffany&Co.’senduringappealliesin itslegacyofluxury,exceptionalcraftsmanship,andtimeless elegance,makingitapreferredchoiceforconsumers seekingprestigeandquality

• CompetitiveMarket:Operatinginacompetitivemarketit hasnotonlymaintaineditsmarketpositionbuthasalso enhanceditsstanding,reflectingitsstrategicmarket approach.

• GlobalRecognition:Thebrand’sglobal recognitionisreflectedinitssubstantialbrand value,signifyingthatithassuccessfullypositioned itselfasasymbolofluxuryonaworldwidescale.

• ConsumerResonance:Theconsistentgrowthin brandvaluesuggeststhatTiffany&Co.continues toresonatewithconsumers,leveragingitsheritage anddistinctiveofferingstomaintainastrongmarket presence.

• Adaptability:thebrand’sabilitytoadaptto evolvingmarketdynamicsisevidentinitsfinancial performance,indicatingabrandthatstaysattuned toconsumerpreferencesandmarkettrends.

• StrategicInitiatives:Thebrand’sstrategic initiatives,possiblyinareassuchasmarketing, productinnovation,ormarketexpansion,have likelycontributedtoitsimpressivebrandvalue growth.

ThiscomprehensivemarketanalysisilluminatesTiffany &Co.’sprowessinnavigatingthemarket,solidifyingits statusasagloballeaderintheluxurysegment.

7,500 7,000 6,500 6,000 5,500 5,000 4,500 4,000 Brand Value In Million U.S. Doller
www.theenterpriseworld.com | 39
| January 2024 40
www.theenterpriseworld.com | 41

Establishment

Founder:

Headquarter No.ofEmployees:

Website:

Greenhouse Product Review

Greenhouse Product Review | January 2024 42

EstablishmentYear:2012

Overview:

Greenhouseisacandidatehiringsoftware.Itguides organizationstoimplementhassle-freehiringprocesses.A softwarethatisdesignedtomakethehiringprocesssimpler.A non-biasedplatformmakestheprocessmorefairandequitable foreverycandidate.Itprovidesanopportunityforpotential candidatestoanorganization.Allpeople-firstcompaniesare ontheconstantlookoutfordeservingcandidates.Thesoftware helpsorganizationstoattract,hire,andon-boardtoptalent. Theprocessismadealoteasierandtherightcandidatesfor thejobarediscovered.Ittrackstherightcandidatesforan organization,soitisofcoursetime-savingandbrings efficiencyintothehiringprocess.Theplatformoffersvarious productsandservicesforcandidatesandorganizationstoget noticedandnotifiedofjobpostings.

Founder:DanielChait Headquartered:NewYorkCity Employees:501to1000employees ebsite:https://www.greenhouse.com/ Greenhouse Greenhouse
www.theenterpriseworld.com | 43

ProsandCons:

Greenhousehasaproactiveapproachtohelping organizationstohirecandidates.Theplatformisreliable whenitcomestoremoterecruiting,socialmedia recruiting,andmuchmore.Itistherightapplicanttracking softwarethatguideshiringmanagerstomeetcandidates

whoarefitforthejob.Thetalentacquisitionindustryhas beenopentoadoptingapplicant-trackingsoftware. Accordingtoexperts,itisshowinggradualgrowthinthe industry.So,itisprovedthatitiswell-acceptedbymany organizations.Letusdivedeepintoitsprosandconstosee thereasonforthisacceptance:

PROS CONS

Well-alignedDecisionMakingFeatures

Candidateslikethewaytheplatformworks

Quickresponsebycustomersupport

ValueforMoney

CoreFeatures:

Greenhousefeatureshelporganizationstosetupa considerateinterviewprocess.Employerscaneasilyobtain potentialemployees'informationandautomatetheprocess ofoutreach.Aspecialfeaturewhereinthecandidateshave thefacilitytopre-recordthecorrectpronunciationoftheir names.Italsohelpstoindicatetheirpronounssothehiring teamgetsitright,andthecandidatefeelsrecognized. Greenhousepromotesitselfasapeople-firstemployer brand.Itautomatessurveystomeasurecandidate experience,managesdatafromin-personinterviewswith candidates,andprovideslibertytocandidatestoselfscheduletheirinterviewtimings.

GreenhousePlans:

• EssentialPlan:TheessentialplanofGreenhouse softwareincludesapplicanttracking,structuredhiring, teamcollaboration,multichannelsourcing,mobile app,corereports,candidateexperience,etc.However, theessentialplancomeswithsomerestrictions. Featureslikeadvanceddataconfiguration,singlesignon,andadvancedcareerpageconfigurationsarenot includedinthisplan.Sotheessentialplanisusefulfor small-scalebusinessesandindividuals.

UIcanbebetter

Allcandidatescannotbeseenina singlepipeline

Candidatesearchviadatafunctionalitycan beimproved

Pageloadingtimescanbeoptimized

• AdvancedPlan:Theadvancedplanincludes everythingthatisincludedintheessentialplan.Plusit offerssomeenticingfeatureslikehosting10+online eventsregardinghiring,adedicatedsinglesign-in, higherdataconfiguration,andcustomreportsthathelp totrackthecandidates’profiles.

• ExpertPlan:Intheexpertplan,allfeaturesofthe essentialandadvancedplansareincluded. Additionally,expertdataconfiguration,developer sandbox,andBIconnector,thesefeaturesareoffered too.Withthesefeaturesoffered,thecandidatesandthe hiringorganizationsfinditeasytolocateeachother. Variouscandidatesfromdiversebackgroundsand differentfieldsarefoundontheplatformwhichhelps thecandidatestostartthe“gettinghired”process faster

CustomerReviews:

Alotofstartupsandestablishedbusinessorganizationsare usingGreenhousesoftware.Eachonehasadifferent reviewofthehiringsoftware.Somecustomersarehappy aboutthequickresponseoftheircustomerserviceteam whilesomeareabitconcernedabouttheUIofthe platform.Let’sreadsomemorereviewshere:

| January 2024 44

• Easytonavigate,eveneasierto customizeandoptimize:I foundGreenhousevery versatile.Ifyouconducthighvolumerecruitments,youcan utilizetemplatesandmake copiesofpreviousrequisitions tostreamlinewhatcouldbea veryadministrativeprocess.At thesametime,Greenhousehas awesomefeaturesforcreatinga personalizedcandidate experience,andI'vehad candidatessharethattheylove theDEIBfeatures(voice pronunciationrecording, pronouns,andmore!). Greenhousecontinuesto implementnewfeaturesthat streamlineexistingmanual processesIfollowed,Ilikethe new24-hourinterview reminder!

• GreatATSSystem:Ilikehow easythegreenhouseistouse.It allowsmetoeasilymanagemy positionsandcandidates.Ican setreminderstofollowupwith candidatesandeasilykeep trackofwherecandidatesarein theinterviewprocesswiththe "Pipeline"tabonroles. Greenhousealsomakesiteasy tofindandpulldataforall differentpartsoftheprocess fromtimeinstagetopassthroughrates.Itallowsyouto buildcustomreportsandsave themmakingiteasytokeep trackofanydatayoumay need.Iwouldrecommend Greenhousetoothercompanies astheirATStoolasitis somethingthathasworkedvery wellformyselfandour recruitingteam.

www.theenterpriseworld.com | 45

STORIES TOLD WITH A NEW PERSPECTIVE!

Ifconveyedinanengagingmanner,goodstoriescandevelopintogreatones.AtThe EnterpriseWorld,weareonapursuittogivevoicetosomeoftheuntoldsuccessstories fromtheworldofbusiness.Ourproficientteamhastheknackforidentifyingsuccessful storiesandtransformingthemintocompellingstoriesthroughourprofessionalandartistic touch.This,combinedwithourprovenindustryexperience,makeourmagazines compellingandinsightful.

Inthesebusinessstories,wecoverclientsacrossvarioussectorssuchastechnology, consulting,finance,manufacturing,healthcare,etc.Theseincludeinspiringsuccessstories ofcompaniesaswellasbusinessleadersfromtheseverticals.FromNorth&South America,Europe,andMiddle-easttoAfricaandAPAC,weserveclientsacrosstheglobe. Theseclientsincludestartups,smallandmedium-sizedbusinesses(SMBs),aswellas largeconglomerates.

Wefocusonbuildingpositiveandlong-termrelationshipswithourclients.Toalignwith theclient'svisionandmission,wegiveahumantouchtoeverystorywepublish.Our teamprioritizesthepromotionofservicesandproductsofclientsthroughourreaderfriendlyplatform.Ourexperienceinstorytellinghelpsusconnectwiththefeatured leaders/companies,helpingthemachievesteadyorganicgrowthwithouthavingtoinvest toomuchtimeormoney.

Wealsokeepinmindouravidreaders.Throughtheseneatly-depictedbusinesssuccess stories,weaimtoinspiretheyoungergenerationtopursueentrepreneurshipandbusiness asalucrativecareeroption.Moreover,throughourexclusivesection'TheEnterprise Diary',weprovidereaderswiththemuch-necessarymarketinsightsandtrendsfromthe businessworld.

Keep reading our magazine to get inspired and stay up-to-date with everything business!

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