The Most Admired Business IT Leader in Banking Industry

WWW.THEENTERPRISEWORLD.COM | AMERICAS EDITION | JANUARY 2024

BLOG Lakshadweep: A Hundred Thousand Islands

ARTICLE Personal Loan for Salaried Employees: What to Know Before You Apply?

UPSHOT Bula! Welcome to Fiji: The Sea and Sand Land

CASE STUDY Beauty Beyond Border: The Fascinating Journey of L’Oreal in Cosmetics

RAMBABU NALAGANDLA

Senior Technical Program Manager

Majestic IT

The Most Admired Business

IT LEADER IN

BANKING I N D U S T RY

Agile Tech-leader

DRIVING A FINANCIAL Paradigm Shift

SUBSCRIBE

CASE STUDIES READ MORE From brands like Tesla to Coca-Cola, get the in-depth analysis of their brand strategies, competition and much more in the Case Studies section of The Enterprise World

UPSHOT METROS READ MORE New York to Mumbai, wander the cities with The Enterprise World's this special section. Know everything you need to know about metro cities of the world.

PRESS RELEASE READ MORE Get exclusive insights about The Enterprise World's monthly magazines and other news in this Press Release Section.

VIDEO INTERVIEWS READ MORE Access The Enterprise World's special video interviews with the most visionary and innovative leaders around the globe in our Video Interviews section.

WWW.THEENTERPRISEWORLD.COM | AMERICAS EDITION | JANUARY 2024

How about showcasing your products to 150,000+ C-suite Subscribers?

To get recent updates of our magazines

SUBSCRIBE US info@theenterpriseworld.com

From Editor’s Desk

Dear Esteemed Readers, Welcome to the latest edition of The Enterprise World – your trusted source for insights into the dynamic world of business and innovation. This month, we are delighted to present our cover story, "The Most Admired Business IT Leader in Banking Industry," featuring the exceptional Rambabu Nalagandla.

In the fast-evolving landscape of the banking industry, technology plays a pivotal role, and Rambabu Nalagandla has emerged as a trailblazer in harnessing IT to drive transformative changes. This edition explores his journey, from his early days to becoming a beacon of leadership in the banking IT sector.

Rambabu Nalagandla's story is not just about professional accomplishments; it's about resilience, innovation, and a relentless pursuit of excellence. As the financial sector undergoes unprecedented digital transformation, his insights provide invaluable lessons for professionals, entrepreneurs, and aspiring leaders.

This issue delves into the strategies, challenges, and successes that have defined Rambabu Nalagandla's career. It aims not only to celebrate his achievements but also to distill wisdom that can inspire and guide our diverse readership in navigating the complexities of the IT landscape within the banking industry.

We invite you to explore the articles and features that uncover the nuances of Rambabu Nalagandla's leadership philosophy. The Enterprise World continues its commitment to presenting stories that captivate, inform, and offer perspectives that contribute to the collective growth of our readers.

Thank you for being an integral part of The Enterprise World community. We trust that this edition will serve as a source of inspiration and knowledge as we collectively chart the course for the future of business in the banking IT sector.

Best Regards

Shalmali W.

The Enterprise World, 1985, Henderson Rd, Columbus, Ohio, 43220

Follow Us On: For Editorial Concerns: editors@theentetpriseworld.com For Sales & Branding Enquiries: sales@theenterpriseworld.com For Subscription: info@theenterpriseworld.com Publisher The Enterprise World Creative Content Editor

Marketing Coordinator (Americas)

Shalmali W.

Peter J.

PR & Marketing Coordinator

Business Development Executive

James H.

Prathmesh K.

Creative Design Head

Graphic Designer

Sankalp K.

Aparna S.

Social Media Manager

Digital Circulation Manager

Narendra S.

Amanda V.

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.

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.

With over two decades of experience, Rambabu is an astute technology leader within the financial service industry. Leveraging his expertise, Rambabu has helped the leading large enterprises achieve their strategic objectives through various programs, acquisitions, divestitures, and team building.

By collaborating with talented individuals within the tech industry, Rambabu aims to solve complex programs by fostering a culture of innovation, building capability, and learning from each other.

“My core values are compassion, honesty, and integrity.”

In his lucrative professional career, Rambabu has held several senior leadership positions working with prestigious organizations such as HSBC, PATNI Computer, and WIPRO—delivering major strategic solutions for stakeholders and clients.

Rambabu has keenly understood digital transformation programs such as AS400, mainframe technologies, and cloud migrations. Using such programs, Rambabu has successfully delivered modernization projects to achieve digital transformation goals for the organizations.

LEADERS IN SPOTLIGHT

For the cover read about

CONTENTS

12

Rambabu Nalagandla

UPSHOT

Bula! Welcome to Fiji: The Sea and Sand Land

22

Beauty Beyond Border: The Fascinating Journey of L’Oreal in Cosmetics

CASE STUDY

32 BLOG

Lakshadweep: A Hundred Thousand Islands Personal Loan for Salaried Employees: What to Know Before You Apply?

42 ARTICLE

28

NEWS SAP Announces Restructuring Plan, Anticipates 8,000 Job Cuts, and Sharpens Focus on Artificial Intelligence READ MORE

General Electric Faces Pre-Market Dip Despite Beating Q4 Earnings Estimates In the pre-market session on Tuesday, General Electric (GE) experienced a decline in its stock value despite exceeding expectations in its fourth-quarter 2023 earnings. The dip in stock value was attributed to a softer-than-anticipated forecast as the company prepares for its imminent split into two entities—GE Vernova and GE Aerospace—in the first half of 2024.

Yahoo Finance Live co-hosts Brad Smith and Seana Smith provided insights into General Electric’s performance and future outlook. Brad Smith acknowledged that while the results for the fourth quarter surpassed expectations, the market response was impacted by a forecast that fell short of predictions.

He highlighted that General Electric is on track to undergo a significant transformation by splitting into two distinct companies.

READ MORE

In a strategic move to reinforce its position in the market and intensify its commitment to artificial intelligence (AI), SAP announces Europe’s largest software company and has unveiled plans for a comprehensive restructuring initiative that will impact approximately 8,000 jobs. The German software giant envisions a surge in its operating profit to around €10 billion next year as a direct outcome of this transformation.

As part of the restructuring slated for this year, SAP is set to enhance its concentration on key growth areas, with a particular emphasis on “business AI.” The company aims to identify and implement “AI-driven efficiencies” across its operations, signaling a dedicated push towards integrating AI into its core business strategies. Responding to inquiries about the number of jobs that will be affected, SAP announces did not provide immediate comments.

However, the company stated in a filing on Tuesday that it intends to conclude 2024 with a headcount comparable to existing levels due to “re-investments” in other operational areas.

French Regulator Imposes €32 Million Fine on Amazon’s Warehouse Operator for Intrusive Surveillance

READ MORE

The local operator of Amazon’s warehouse operator in France is facing a substantial €32 million ($35 million) fine from the French Data Protection Authority, known as CNIL, for employing what has been deemed an “excessively intrusive” surveillance system to monitor its workers.

In a statement released on Tuesday, CNIL disclosed that Amazon France Logistique provided warehouse staff with scanners that meticulously recorded their periods of inactivity and the speed at which they completed specific tasks, such as retrieving or shelving items. The regulatory body deemed the scanner system excessive, citing concerns that it measured work interruptions with such precision that it potentially compelled employees to justify every break or interruption.

Employees take sufficient time to follow safety guidelines Amazon responded with a statement posted on its European Union site, expressing strong disagreement with CNIL’s conclusions and reserving the right to file an appeal. The e-commerce giant emphasized that Amazon’s warehouse operator management systems, including surveillance measures, are industry standards crucial for ensuring the safety, quality, and efficiency of operations, as well as tracking inventory storage and package processing promptly.

NALAGANDLA

AMBABU 12 | January 2024

RA

NAL

Senior Technical Program Manager

Majestic IT

AMBABU C

O

V

E

R

S

T

O

R

Y

LAGANDLA Agile Tech-Leader Driving A Financial Paradigm Shift

M

aking informed decisions is the first pillar of successful leadership in the growth-driven finance world. To scale, leaders must strategize and blend the financial and long-term company objectives by diving deeper into the financial instruments, markets, regulations, trends, and complexities.

The financial processes mirror the industry as a whole—they are complex. Yet, technological advancements such as AI, Data Analytics, and cloud computing have enabled leaders to make processes more seamless than ever.

However, many leaders have not yet understood the potential benefits of these advancements and opt for dated workflows that leave the organization at a disadvantage.

Compassion, Honesty, and Integrity With over two decades of experience, Rambabu is an astute technology leader within the financial service industry.

Leveraging his expertise, Rambabu has helped the leading large enterprises achieve their strategic objectives through various programs, acquisitions, divestitures, and team building.

By collaborating with talented individuals within the tech industry, Rambabu aims to solve complex programs by fostering a culture of innovation, building capability, and learning from each other.

“My core values are compassion, honesty, and integrity.”

Rambabu Nalagandla, Senior Technical Program Manager of Majestic IT, is a visionary leader who truly understands the crucial role of tech for modern organizations—making him one of the most admired Business IT Leaders.

In his lucrative professional career, Rambabu has held several senior leadership positions working with prestigious organizations such as HSBC, PATNI Computer, and WIPRO—delivering major strategic solutions for stakeholders and clients.

www.theenterpriseworld.com | 13

C

O

V

E

R

S

T

O

R

Y

Rambabu has keenly understood digital transformation programs such as AS400, mainframe technologies, and cloud migrations. Using such programs, Rambabu has successfully delivered modernization projects to achieve digital transformation goals for the organizations.

These programs provide improved scalability, reduced infrastructure costs, increased operational efficiency, and accelerated time to market. Moreover, organizations can leverage cloud technology to unlock new opportunities for growth, innovation, and competitiveness in the digital age.

Recently, Rambabu has delivered dynamic transformation programs with budgets as high as $30M. Managing the AGILE framework, Rambabu has directly impacted 50-75 medium to large regulatory, cloud migrations, strategic, infrastructure, and efficiency improvement projects. Moreover, he has also collaborated with stakeholders to support risk mitigation for the organizations.

Committed to his professional growth and staying up-to-date with industry trends, Rambabu has acquired academic and professional certifications such as PMP, Safe Agilist, and DevOps. These certificates helped Rambabu build a solid base to excel in project management and DevOps implementation principles to achieve transformation.

“My passion is to innovate and implement cutting-edge technologies to deliver an effective and sustainable outcome to my customers and colleagues.”

Rising Against the Odds

Connecting the Dots

Rambabu hails from a small village in Andhra Pradesh, India, where most people make their living through farming.

Traveling to Canada on a work permit, Rambabu worked in Vancouver city for more than a year. During this period, he better understood Canadian banking, customer service, and the vital role of connecting the dots and operating with siloed.

At the early age of 15, Rambabu lost his father, forcing him to take the family responsibilities upon himself as he built a robust life. However, education changed his life. Notably, Rambabu was one of the first people to complete a Master's Degree from the BITS Pilani Institute.

Building a solid reputation, Rambabu delivered optimal technology outcomes through swift execution for businesses and customers. These results helped him build a Faced with difficult situations throughout his life, Rambabu also solid resume in PMP, SAFE agilist, and cloud. It also made learned two valuable life lessons from these tough him a full-fledged Techno functional BFSI banking domain times—focused resilience and life gets better when not only you expert. get better but when you better the lives of those around you.

To better leverage his talents, banks hired Rambabu for a “Conserve what you have, strive on, never give up, and always tech role that demanded him to work closely with staff and try to be a better version of yourself, even when the odds are customers in the US under a contractual Technical program against you.” manager for banking and IT service at an enterprise level.

14 | January 2024

RAMBABU NALAGANDLA Senior Technical Program Manager Majestic IT

“

My passion is to innovate and implement cuttingedge technologies to deliver an effective and sustainable outcome to my customers and colleagues.” www.theenterpriseworld.com | 15

Entrepreneurial Accolades In his decorated career in the tech landscape, his progress through innovation and his experience in managing complex programs opened various doors for him. It also helped him guide and inspire aspiring young individuals within the tech field.

As a senior member of IEEE, Rambabu participated in the international conference talks as a guest and a reviewer as a part of the judging technology initiatives. As a banking domain expert, he has published various written works on cloud migrations and how the banking industry is migrating from Legacy to Cloud.

Success through the Modernization Wave Banking is going through a modernization phase, with Legacy Large system shifting to resilient and scalable cloud solutions, digital consolidation with the replacement of heavier bulky code with new age Reactjs and machine learning prompts.

Since 2021, Rambabu has been actively working on the technological shift with Cloud First and API First programs for the US Enterprise IT service sector, from deployment readiness to post-implementation stabilization. Achieving this requires precise execution, understanding the program intricacies, resource talent upskilling, and seamless deployment.

16 | January 2024

Rambabu credits his success to learning to take responsibility and being responsible for people at a young age. It also meant embracing differences in their needs and aligning people to a common goal to progress as an entire group.

“

Managing varied stakeholder interests toward a common goal is my superpower.”

Customer-Focused Approach With the ethos of addressing local needs, bank technology is the third largest technology in the world. Banking institutions aiming to scale and be distinctive must acquire a deep knowledge of global trends, local regulations, data security, and digital customer-focused solutions.

C

O

V

E

R

S

T

O

R

Y

Shift in the Banking Industry

In current banks, these threads cut across products and services under the cloud first, API first agenda, owing to the local talent and the customers banking with global banks that get a local bank experience with the convenience of advanced global technology.

The finance industry is renowned for its large mainframe servers and bulky infra—enabling millions and billions of transactions daily. However, the banking industry has been experiencing a shift since 2018 as it prepares for the future. Cloud First, API first initiatives, Digital methods, paperless agenda, GDPR data privacy, cyber security, and Machine Learning approaches are at the forefront of this transformation.

Today, banks are adopting agile working practices and product management approaches to mitigate risks. Compared to earlier Turnkey waterfall models, banks today opt for methods to ensure Development Security operations coupled with automation to remain compliant and customer-focused.

According to Rambabu, Cloud technology with optimization in cost, data security, and data privacy along with embedded Machine learning - Generative AI for enterprise, 300x cyber security is what the future looks like for the finance sector.

Beyond 2025, Banks could be the first among many to invest in Quantum Computing (Qubits). Currently, Rambabu himself is preparing for generative AI that can be cost-effective and secure for Enterprise banking usage to add further value for seamless customer experiences.

www.theenterpriseworld.com | 17

A Paradigm Shift According to Rambabu, an aspiring entrepreneur must grow and ensure the environment grows with you. Ideally, the objective should be to nurture and create a paradigm shift in dealing with problems through various solutions. It is crucial to not have a tech solution first and then look for the problem—a growing theme in many sectors today.

Additionally, a responsible entrepreneur or intrapreneur must cultivate solutions that create brand value or an easy way of life, driven by tech breakthroughs for communities and organizations they work in.

Discipline, commitment, patience, agility, unlearning, and learning are essential skills of an aspiring entrepreneur.

Moreover, being a good listener is a must during this process—listening to your instinct, what the market is saying, what the customer needs, and most importantly, choosing the side of truth regardless of its intensity or the rhetoric is vital for success.

C

O

V

18 | January 2024

E

R

S

T

O

R

Y

A Thriving Environment Bringing the agile teams together, Rambabu cultivates a safe environment where open community discussions on topics such as Learning curve optimization, Stability index, and acceleration or sprint velocity are encouraged. This inclusive approach has led to around 18%-30% of financial savings.

With robust reporting on spend, clarity of time charging, and constant monitoring, the projects have become one of the best at the global program management level for promoting transparency and financial accountability of program execution, KPIs, KRA, and tangible benefit-derived.

With this approach, the team has self-governance, takes responsibility and accountability for the tasks, executes more cognitive decision-making skills, and mitigates risk, making it an integrated unit with a high trust factor—achieving higher employee retention rates.

“

Conserve what you have, strive on, never give up, and always try to be a better version of yourself, even when the odds are against you.” www.theenterpriseworld.com | 19

22 | January 2024

A

ll of us wish to head to the islands at some point in time.

If you’re planning your next holiday to an island, we suggest you think about Fiji. It is an island country in Melanesia, a part of Oceania in the South Pacific Ocean. It lies about 2000 km north-west of New Zealand. With approximately 322 islands, the most important islands are Vanua Levu and Viti Levu. An archipelago in the South Pacific Ocean, it also surrounds the Koro Sea which is about 1300 miles north of Auckland, New Zealand. It has a complex geologic history. The Vanua Levu has an area of about 5,540 kms and Viti Levu has an area of about 10,000 kms.

The Vanua Levu is divided along its length by a mountain range with peaks rising to more than 3000 feet. The Viti Levu accounts for more than half of the island’s land area. A jagged dividing range running from North to South has several peaks above 3,000 feet. To the southeast and southwest, as well as to the south where the range divides, the mountains make the roads clear for

plateaus and lowlands. Talking about the climate in Fiji's capital, Suva, the average summer high temperature is about 29 degrees Celsius and the average winter low is 20 degrees Celsius. The temperatures are typically lower in elevated inland areas.

How did the Island get its name?

The Tu'I Tonga Empire ruled over Fiji and brought Polynesian influences to the island. The locals called their home Vita, the Tongan people called it Fisi.

According to history about Fiji, many assume Captain Cook botched the name, calling the islands Fiji and the name stayed.

Culture: The culture has evolved throughout the nation's history, being shaped by influences from Melanesia, Europe, India, and beyond. Fijian people love their family and community. They are warm, friendly, and approachable.

They love to express their love of life with a ubiquitous and enthusiastic Bula!

Fijian people live an unhurried life and they fondly call their time Fiji time. When you are there, expect time to go slow. Even you get easily accustomed to their environment and learn to live in the present.

Religion: As diverse cultures and races exist in the island country, several religions are practiced in the country. Christianity, Hinduism, and Islam are some of those. Religions tend to split along ethnic lines with most Indigenous populations practicing Christianity and most Indo-Fijians practicing Hinduism and Islam.

As you traverse the Fijian islands, you'll come across Christian churches, Sikh and Hindu temples, and Islamic mosques. To get to know the core of their culture we'd suggest you attend the Sunday service. It is a special occasion in all cultural temples that celebrate their culture and share short stories and theories about the same.

www.theenterpriseworld.com | 23

Tourist Attractions: Fiji gained popularity gradually due to its attractive oceans in the Pacific Ocean. It is known for its fantabulous islands, but there is more to its beauty than just the islands. It also dons the hat of jungle rivers, pristine shorelines, white sand beaches, museums, and whatnot. From one attraction to another, the list is endless. We will try to jot down a list here of the most vibrant and different tourist spots:

1. Suva Municipal Market: The capital city, Suva, is amongst the best places to visit for tourists in Fiji. For those who see the world through a lens, it is an exceptional place to click pictures. The young sellers occupy the sides of the road to sell cabbages, tomatoes, chilies, etc. A heap of vegetables is there at your dispense kept in symmetry for visual delight. Products have a valid price so there isn't much need for bargaining here.

2. Sigatoka Sand Dunes: Dunes are an attraction other than beaches. These dunes are located close to the mouth of the Sigatoka River. The dimensions of these wind-blown dunes are about 5 km long, 1 km wide, and around 20 m in height. The dunes are also ascending to 60m at the western end due to which they were made a national stop in 1989.

3. Taveuni Hill Fort: This is considered the best place for honeymoon in Fiji. Among the many forts across the island, Tavuni hill fort is the most famous one. The view from the top of the fort is very scenic. The fort was built in the eighteenth century by Tongan Boss Maile Latumai. This was used as a guarded site during the war and is the most intriguing sight for tourists.

24 | January 2024

Located at a distance of 23 km from Korovou, the Snake God Cave, is one of the largest caves in Fiji.

The name is inspired by six sparkling stalactites in the state of snakes' heads. At the time of ancestral war, the town would pack up as a group and look for protection in its pitch-dark maze.

4. Fiji Museum: The island's cultural and historical development is perfectly depicted in this museum. To appreciate the shows in sequential order, begin with the presentations behind the ticket counter and work your way around clockwise. The highlight of this museum is the gigantic Ratu Finau which is the island’s last double-hulled kayak famed to be over 13 meters long.

Delicacies in Fiji: Of the 333 islands, only 100 islands are inhabited which carries a total population of 9,00,000. Due to such a demography in its population, it boasts a multicultural and multi-racial society. The cuisine reflects this diversity and many of the dishes. E.g. Indian dishes now differ from the original recipes and have changed over the past century or so since Indo-Fijians.

These dishes were brought over by the English colonial government to work in the sugar cane farms in the 1800s.

www.theenterpriseworld.com | 25

Of the 333 islands, only 100 islands are inhabited which carries a total population of 9,00,000. Due to such a demography in its population, it boasts a multi-cultural and multi-racial society. The cuisine reflects this diversity and many of the dishes. E.g. Indian dishes now differ from the original recipes and have changed over the past century or so since Indo-Fijians. These dishes were brought over by the English colonial government to work in the sugar cane farms in the 1800s.

Lovo is a conventional Fijian method of cooking using an underground oven with hot stones. The common foods cooked in a lovo are root vegetables- whole taro or cassava; meat-marinated pork, whole chicken, and even fish. The food is prepared beforehand and wrapped in foil before placing it in hot stones in the lovo pit. It is covered and cooked for 2 to 3 hours.

Here are the delicacies:

Conclusion:

1. Curry chicken:

So, one thing is for sure, Fiji Island is one hell of a place for an exotic holiday. You'll get all types of scenery over there.

From beaches to mountains to caves, to forts, to museums, and whatnot! Food is exceptional too with a whole lot of delicacies to choose from. A variety of local-made food you'll wish to extend your stay by a day or two to explore more about the food, culture, and history of the place. Not to forget the wildlife, foxes, whales, turtles, and much more. One can find different kinds of animals in the deep forests who are enthusiasts of it. All in all, Fiji falls under the "must-visit" category for those who love to experience diverse moods.

This is a popular curry dish for takeaways. It is considered a quick work lunch or an easy-to-make meal. A whole chicken is used and chopped into bite-sized pieces with bone-in with skin intact for added flavor. The delicacy can range from mild to extra spicy and is usually served with rice or roti.

2. Kuita Vakalolo: This Fijian dish is popular in the ocean-going provinces and is welcome at any feast. The dish contains octopus and is generally cleaned fully and made by experienced cooks. The octopus is chopped into manageable pieces and then steamed into thick coconut milk with onions, tomatoes, and chilies for a couple of hours. This thick savory stew is then served with taco, cassava, or kumala.

3. Lote: A popular simple dessert made from pumpkin, bananas (optional), and coconut cream. The pumpkin is peeled cut in 1-inch cubes and boiled in sugared water for sweetness. The pumpkin is mashed and mixed up with bananas. The fresh coconut milk is also incorporated then the dish is cooled in the refrigerator. It is served with ice cream or just like that.

4. Vakasikera (Shredded Cabbage with Fish in Coconut Milk): This is a dish from Lau province and is famous for events or just a simple home-cooked meal. It is made from shredded bitter mustard cabbage soaked in salted water for 2 to 3 hours.

It is then squeezed dried and placed in a large bowl with chopped onions, tomatoes, and chili peppers. Crispy fried fish is crumbled on top and then mixed with fresh coconut milk. It helps to enhance the taste.

26 | January 2024

5. Lovo food:

PERSONAL LOAN FOR SALARIED EMPLOYEES: What to Know Before You Apply?

28 | January 2024

D

o you find yourself in need of some extra funds apart from your monthly salary and consider applying for a personal loan? Well, if your answer to this is a YES, you’re not alone. For a long time now, a personal loan for salaried individuals has become a lifeline during financial emergencies.

When planning to apply for a personal loan for salaried individuals, you must consider a few things beforehand.

So, if you’ve decided to take the plunge and apply for a personal loan, let us guide you through the process, helping you understand the ins and outs of personal loans.

Grasping the Fundamentals of a Personal Loan

1. Definition A personal loan is categorised as an unsecured loan. It implies that to secure a personal loan, you don’t need to provide any collateral. These loans are provided by financial institutions such as banks, credit unions, or online lenders. A personal loan for salaried is offered to salaried individuals depending on their creditworthiness and ability to repay.

2. Working When you opt for a personal loan for salaried individuals, you receive a lump sum amount. You need to pay the full amount within a specific period, usually in monthly instalments, EMIs. For such loans, the interest rates can be fixed or variable, completely depending on the lender you choose.

www.theenterpriseworld.com | 29

What to Consider Before Applying for a Personal Loan for Salaried?

your choices and finding the best deal tailored to your needs.

Responsible Borrowing When Applying For Salary Loan Online

1. Check Your Credit Score Your credit score plays a significant role in determining whether your loan application gets approved. Moreover, it also has an impact on the interest rate that you will be charged, i.e., a higher credit score often leads to lower interest rates.

4. Read the Terms and Conditions Carefully

Ensuring responsible borrowing when applying for a salary loan online is crucial to avoid financial strain and debt. Here are some tips to help you make wise borrowing decisions:

Consequently, before you apply for a personal loan for salaried, it’s ideal to check your credit score. You can easily obtain a free credit report from reputable credit reference agencies. In case you fail to meet the credit score expectation, consider taking steps to boost it, and then apply confidently.

2. Evaluate Your Repayment Capacity Assess your financial situation honestly.

You can achieve this by calculating your monthly income and expenses. It will help you determine how much you can comfortably afford to repay each month.

Online lenders will thoroughly examine your income-to-debt ratio to gauge your repayment capacity. It’s essential to choose a loan amount and tenure that fits within your budget to avoid financial strain.

3. Compare Lenders and Interest Rates Don’t settle for the first offer that comes your way. Shop around and compare options for a personal loan for salaried individuals from different lenders. Look beyond the interest rates and consider processing fees, prepayment charges, and other hidden costs.

Online comparison tools can be incredibly helpful in narrowing down

30 | January 2024

Never underestimate the power of reading the fine print. Before you sign on the dotted line, carefully go through the terms and conditions of the agreement of a personal loan for salaried.

Understand the interest rate, repayment schedule, fees, and penalties for late payments or early repayment. Clear any doubts regarding your instant personal loan online for salaried you have with the lender before proceeding.

Ÿ

Determine the exact amount you need and resist the temptation to borrow more than necessary.

Carefully evaluate your requirements and borrow only what you can comfortably repay.

Ÿ

Review your monthly budget to understand your income, expenses, and existing debts. Ensure that you have enough room in your budget to accommodate the loan repayment without compromising your essential expenses.

Ÿ

Be aware of hidden fees such as processing charges, late payment fees, or prepayment penalties.

Choose a lender with minimal additional costs to save money in the long run.

Ÿ

By following these guidelines, you can make informed decisions when applying for a salary loan online, ensuring responsible borrowing and maintaining your financial stability.

5. Beware of Scams and Frauds The internet is a vast space, and unfortunately, it’s not devoid of scams. Be cautious when sharing personal and financial information online.

Make sure you’re dealing with a reputable online lender. Verify their credentials, check customer reviews, and look for any red flags. Protecting your financial data is crucial in the digital age.

6. Prepare Necessary Documents Once you’ve chosen an online lender, gather all the required documents. Typically, you’ll need proof of identity, address, income, and employment. As a salaried employee, you might be asked for recent payslips, bank statements, and employment verification documents.

Having these ready in advance will speed up the application process for your instant personal loan online for salaried individuals.

Secure the Best Personal Loan for Salaried Individuals Securing a personal loan for salaried employees doesn’t have to be a daunting task. By understanding your financial position, comparing lenders, and being vigilant, you can make an informed decision that suits your needs. Remember, a personal loan is a financial commitment, so borrow responsibly and within your means.

32 | January 2024

www.theenterpriseworld.com | 33

,how simple and catchy to know that your existence has been admired by some brand! L’Oreal is dedicated to empowering every woman in society and providing solutions to anti-aging, skin issues, hairfall problems, etc.

With the change of the seasons and generations, beauty standards keep evolving and every brand needs to cope with the customer requirements.

L’Oreal has captured the essence of elegance and innovation in the industry and become a global giant. In this article, we embark you on the journey of an international brand to understand its various marketing strategies, and the challenges it faced and know how they contributed to its success. From humble beginnings to becoming a powerhouse in cosmetics, L'Oreal's story is one of resilience, challenges, and strategic brilliance.

Humble Beginning L’Oreal, an international beauty brand ruling the cosmetics industry is inventing new standards for female customers worldwide. It gives access to the best cosmetic products in quality, efficiency, and safety. Established in 1909, L’Oreal has become a leading brand with 68,000 employees working in 130 countries and earning revenue of €20.3 billion. It uses traditional recruitment tools to find the best talent in the market and reshapes the leadership qualities through them. In areas like logistics and finance, the brand faced a challenging situation in recruiting, senior, earlycareer professionals, and experts. Usually, many companies target the population looking for a job, however, L’Oreal focused on passive candidates and created its brand value in the market. To attract the best talent and build its employer brand for future candidates applicant, the company developed its online presence.

For better and faster recruitment the company used the LinkedIn platform and reached up to potential candidates. It started increasing its visibility through social ads which include offsite campaigning, link ads, and carousel ads. Moreover, the company implemented its marketing strategy on social media platforms like Instagram and Facebook. It took advantage of Christmas and New Year occasions and showed how the right marketing at the right time can be reflected in increasing its revenue in the last quarter of the corporate companies. By placing targeted ads, L’Oreal was able to generate clicks and sales at the same time which proves that its timing to run ads was accurate.

34 | January 2024

Ÿ A model based on listening and engaging

L’Oreal’s Social Media Marketing Strategy is focused upon : Ÿ Improving Customer Experience Management According to Marc Duquesnoy, Social Media Performance Director, L’Oreal, “We had 120 tools to manage social networks and we did some streamlining to migrate to Sprinklr in every country by involving 3,000 users with 35 brands in 75 countries. Sprinklr is the foundation of our social media strategy. It is our backbone.”

Every single customer-facing department was targeted and community managers were trained to strengthen their roles. Moreover, its social media marketing strategy increased its autonomy and responsibilities.

The ‘Listen-to-engage’ campaign was run by L’Oreal’s digital team to understand customer expectations and better serve them.

The model consists of the following things: 1. Monitor brand reputation and collect insights from customers to track the product marketing. Catering to this, it is important to listen to all social media channels, blogs, news, etc.

2. Publishing the content on the social media accounts of the brand and building engagement with customers. Community managers find Sprinkler’s social listening capabilities interesting to trace the interesting conversations and react to them in a personalized way.

3. Detecting influencers to deploy a brand ambassador program.

4. Customer care across social channels

Listen

Customer Care

Publish & Engage

LISTEN TO ENGAGE

Inuencers

Paid Amplify www.theenterpriseworld.com | 35

Being the only cosmetics company to earn more than one brand franchisee, L’Oreal is a Francebased global cosmetics company. With a market share of 16.8 percent, it has remained the global brand across the industry.

Road to Success

Focus areas:

1.

2.

3.

4.

Skin Care

Hair Care and Colour

Fragrance

Colour Cosmetics

L’Oreal started an extraordinary and legendary advertisement for hair color, “Because, you are worth it”. The advertisement was diversified into a wide range of beauty products across the USA, South Asia, the Far East, Russia, etc. The company started expanding globally by introducing Maybelline in the USA, whose tagline was, “Maybe she’s borne with it.” The brand was popular for various lipstick products and nail polishes in the USA. By adding the tagline “Urban American Chic”, the company promoted its products. L’Oreal acquired Maybelline in 1996 when the brand lost its focus and equity. It was extended to the Japanese market and captured nearly 56% of the market outside the USA. By acquiring different brands, it is collaborating with the national culture and diversifying its portfolio which is part of its long-term growth strategy. With the help of research centers in New York and Paris, L’Oreal attained 493 patents registered in the name of the company in 2001. Challenges and Solutions

36 | January 2024

Key Takeaways 1. L’Oreal owns 36 brands worldwide and continues to acquire famous beauty brands like Maybelline New York, a leading beauty product.

2. Its other acquisitions and mergers include Granier, NYX Professional Makeup, CeraVe, Redken, etc.

3. Since its establishment, L’Oreal has kept buying its competitors which are highly desirable brands, and increases the scope of its product offerings.

L’OREAL OWNS BRANDS WORLDWIDE

www.theenterpriseworld.com | 37

Challenges and Solutions Before becoming a global brand, L’Oreal faced severe challenges in its journey that proliferated its presence at the international level. Keeping different brands in one basket was one of the biggest issues the company faced in its early years. However, the company built its strategy to deal with it and constructed good brand management. Hitting the right target audience at the right time with the right product is the solution that the company came up with. Celebrities from different cultures were hired for advertisement and promotion. Furthermore, the company has an efficient R & D department on which the company spends at least 3% of its revenue every year.

Middle-aged and working women are the main target audience of the company and established educational centers to create awareness about its products in various countries and conducted various programs regarding hairdressers. By providing a wide range of products, the company opted for the complete makeover. L’Oreal has established long-term positioning within the minds of teen-age girls and working women. Due to its science-based products, it is the only company that is known as a scientific beauty company.

L'Oreal's strategic acquisitions have helped the company to catch a market cap of nearly $227 billion, with annual sales of $38 billion.

Customer Experience Management L’Oreal Paris gave access to deep customer experience management based on their unique journey, regardless of the device they use. However, mobile devices lack responsive design and their complicated time-consuming management activities could be problematic. It is been claimed that customers using L’Oreal products for a long are diagnosed with cancer including hair and skin problems. CO2 emissions during its manufacturing have raised issues over the sustainability of the brand. Its efforts have been drawn out in its ‘For the Future’ program, launched in 2020 to address specific objectives, such as reducing all GHG emissions by 50 percent per product by 2030.

38 | January 2024

For more than 100 years, customers have believed in the products of the L’Oreal Group. It is fulfilling the requirements of customers for performance and quality and is committed to giving the best cosmetics products. Quality is a global commitment upheld by the entire company and all of the Group's brands worldwide. The company guarantees packaging quality and safety with the help of its packaging and development teams. The packaging of the product is designed and approved through formula design, and the company checks its stability, compatibility, and dispensing system.

Lessons of Worth For many decades, L’Oreal has emphasized its mission to increase its self-worth. It has dedicated its “Lessons of Worth” dedicated of the self-esteem of every woman and gives voice to celebrities from various cultures and their opinions about the beauty standards of women. Whether it is lipstick that empowers you to be the best version of yourself or a nourishing act of self-care to boost your confidence, L’Oreal is there to encourage every woman. With the help of the ‘Lessons of Worth’ campaign, the company asked every woman to embrace their character. It included various celebrities like Kate Winslet, Helen Mirren, Camila Cabello, Jane Fonda, etc.

From making shampoos and serums to lipsticks, L’Oreal has made a long journey, and if you are willing to build your own brand in the future, here are some lessons you should learn from it: 1. Create Opportunities To establish your brand, rather than waiting for the best opportunity, it is always recommended to create your opportunity. Through L’Oréal Women of Color Think Tank, the company made connections with women of all ethnicities and celebrate diversity. The initiative gave a competitive edge to the company and raised its authenticity among the customers. The company took models of natural hair to promote the brand.

2. Be brave to make out-of-the-box decisions As you know the beauty industry is growing continuously, it is important to be brave enough to come up with next-generation life-changing decisions. When your target customers are mainly women, it is important to break the stereotypes and make them feel empowered through your brand. That’s how you create truly disruptive, superior, and addictive beauty experiences for your consumers.

3. Being hungry and ambitious At L’Oreal, employees are asked to stay creative and encouraged to be curious all the time to oppose the status quo and be never satisfied. The company has developed various serums, lotions, cleansers, creams, and face masks to deal with antiaging and enhance brightening, shine control, hydration, etc.

www.theenterpriseworld.com | 39

42 | January 2024

Lakshadweep is like a real-life Avalon, a mysterious island from the Arthurian legend. Similar to the Avalon’s legendary charm, Lakshadweep islands are known for its beautiful and isolated coral atolls. It also features stunning lagoons that disguise many biodiverse mysteries beneath their surface. In Lakshadweep, cultural treasures and vibrant marine life create a unique attraction, making it a real-world counterpart to the legendary Avalon. It’s a place where time seems to stand still, and the boundaries between reality and fantasy blur. This article makes that boundary a bit clear and denes everything you need to know about Lakshadweep islands.

www.theenterpriseworld.com | 43

HISTORY OF LAKSHADWEEP 44 | January 2024

Arrival of a Muslim saint Legend has it that a Muslim saint, guided by a dream of the Prophet, traveled to Lakshadweep to spread Islam. Initially rejected, a girl fell in love with him, leading to conflict. The saint's prayers caused temporary blindness, and when he left, sight returned. Through miracles, he won people's trust, and Lakshadweep embraced Islam, blending Islamic and Hindu traditions. Today, his grave on Andrott Island remains sacred.

The Race between India and Pakistan In 1947, right after India gained independence, Pakistan eyed Lakshadweep despite the geographical distance. Sardar Patel, the Home Minister, swiftly acted.

The Mudaliyar brothers from Malabar, with a limited battalion and scarce weapons, hoisted the Indian flag on Lakshadweep on Patel's orders. Just in time, a ship with a Pakistani flag approached, creating a nail-biting situation!

First humans to set foot on Lakshadweep King Perumal of the Chera dynasty is believed to have converted to Islam and left for Mecca from his Malabar empire in the 7th century. Hindu sailors who were searching for him landed on Bangaram island after their ship was wrecked in a storm near Lakshadweep. When they returned to Malabar, they explored other Lakshadweep islands.

Later, a group from Malabar, including sailors and soldiers, settled permanently on Amini Island.

The Portuguese & British invasion In the 1490s, the Portuguese attempted to colonize Kochi but were driven away. They then turned Lakshadweep into a seafarers' hub, exploiting coconut coir. Islanders cleverly ousted them later.

Over time, Lakshadweep's rule shifted among Malabar royal houses, eventually under the care of the Arakkal family. Dissatisfied with oppressive rulers, islanders sought help from Tipu Sultan in Mangalore, Karnataka. Following discussions, Tipu gained control over parts of Lakshadweep.

After Tipu's demise in the 1790s, the British acquired five islands under him. This might explain the rare presence of Kannada speakers in Lakshadweep.

www.theenterpriseworld.com | 45

These points broadly summarize the history of Lakshadweep Islands. However there are many more such tales that define the mystique of this place.

ECONOMY OF LAKSHADWEEP ISLANDS Agriculture and shing: Lakshadweep relies on coconut palms for agriculture, exporting copra to the mainland. In certain areas, coral removal and organic fertilization enable the cultivation of bananas, vegetables, root crops, and millet. Fishing, especially for tuna, is a significant economic activity, with skilled navigators using traditional boats called odam to sail between islands and the mainland.

Manufacturing: Lakshadweep’s main industry revolves around fish processing, particularly tuna. Minicoy hosts a tuna cannery and follows traditional bonito drying methods. Other manufacturing activities in the region include coir production, hosiery production, weaving, and boat building.

Lakshadweep Tourism: Lakshadweep promotes responsible tourism with mandatory permits and governmentsponsored tour packages. Additionally, the islands boast vibrant coral reefs and pristine beaches, offering a unique natural experience.

Transportation: Lakshadweep is linked to mainland India by sea and air. The nearest seaport is Kozhikode and ships to the islands depart from Kochi. Agatti Island has an airport with regular flights to and from Kochi. Helicopter services connect the mainland and islands.

However, Lakshadweep has limited road infrastructure, with only a few miles of roads.

46 | January 2024

Eco-System at Lakshadweep

Ÿ Why visit Lakshadweep?

Ÿ Land and Climate:

Just 10m from the shore, dive into turquoise waters to discover vibrant coral and Nemo (yes, the Clownfish).

The islands, surrounded by coconut groves, offer constant sea views as you drive. With a small population of 66,000, it feels like there are more coconut trees than people. Lakshadweep’s regulated tourism preserves its marine and land ecosystems, creating an eco-friendly haven. For an affordable beach getaway with India’s cleanest shores, head to the less-explored Lakshadweep.

Lakshadweep consists of small islands, without exceeding the width of 1 mile. The Amindivis are the northmost, and Minicoy is the southmost. Inhabited islands are mostly coral atolls, with higher eastern sides suitable for living and lagoons on the west protecting from monsoons. The sandy soils are coral-derived. Temperatures range from about 70 °F to nearly 90 °F throughout the year. Cyclones rarely make landfall on the Arabian Sea islands, but their associated winds and waves can alter the topography. Ÿ Plant and Animal Life: Lakshadweep Islands teems with coconut palms and diverse trees, including banyans, casuarinas, pandani (screw pines), breadfruits, tamarinds, and tropical almonds. Betel nuts and betel leaves thrive here. In the surrounding waters, sharks, bonitos, tunas, snappers, and flying fish are prominent, while manta rays, octopuses, crabs, turtles, and various gastropods abound. The islands also host a variety of water birds like herons, teals, and gulls. Ÿ People and Faith: People in Lakshadweep, except on Minicoy, trace their roots to migrants from the Malabar Coast in southwest India, arriving before the 7th century CE. These migrants, later converting to Islam, established the predominant religion in Lakshadweep. While Islam is the main faith, remnants of the original Hindu migrants’ religious and social practices persist, as seen in matrilineal kinship and caste-like groups. Malayalam is the primary language, with Mahi spoken on Minicoy and some Hindi speakers. The population is concentrated on Andrott, Kavaratti, Minicoy, and Amini islands.

What, Where, and Why Lakshadweep Islands? Ÿ What and where is Lakshadweep?

Located 500 km southwest of Kochi, the 4200 sq km lagoon land of Lakshadweep comprises 36 islands, of which only ten are inhabited, covering a total landmass of 32 sqm. Despite its political and historical connection to India, it remains somewhat isolated from mainland developments. The islands faced challenges due to the delayed communication of Gandhi’s assassination, which took 14 days to reach them. Primarily dependent on imports, from tissue paper to vegetables and electricity, everything comes from the Indian mainland, as the islands lack power plants for electricity generation.

Ÿ How to reach Lakshadweep?

Start your Lakshadweep journey in Kochi, Kerala, accessible by cruise or flight. Kochi, a delightful blend of colonial and Malabar architecture, offers a fascinating start. Spend a few days exploring this vibrant city before choosing between a flight or cruise to Lakshadweep Islands based on your preferences. Once on the islands, walking is sufficient, as they are easily navigable. Boats are the primary mode of transport, and while there’s a chopper service, it’s pricier for island hopping.

Best Things to do in Lakshadweep: A Group of 36 Islands 1. Don’t miss the beautiful view during Agatti’s landing After landing at 30+ airports worldwide, most flights are uneventful. Ladakh stands out with its stunning Himalayan views, but nothing compares to Agatti’s runway, Measuring 7 km on Google Maps. A 120m-wide black runway, seemingly floating amid turquoise waters, bordered by green bushes and white sand. It is one of the most beautiful sights as your first glimpse of this island paradise is from the plane. Capturing the moment is like securing a Lakshadweep travel permit – challenging.

2. Go Scuba Diving and Snorkeling Dive into the wonders of Lakshadweep Islands through scuba diving and snorkeling. Although smaller than the Red Sea in marine life, it’s perfect for occasional divers.

Boats take you to prime diving spots, while just a short walk from your room unveils a psychedelic underwater world for snorkeling. Wear water-resistant shoes to explore sunken shipwrecks with metal plates underneath.

The underwater is covered with vibrant corals and fish, disconnecting you from the everyday hustle. Experience the magical transition from chirping birds to the soothing sound of flowing water. The diving instructors there can summon a school of fish with a snap, creating a mesmerizing underwater spectacle.

www.theenterpriseworld.com | 47

3. Have a hammock dream.

Lie back and dream in a hammock amid the mesmerizing beauty of Lakshadweep. For non-avid sailors, the irresistible beachscape keeps us outdoors, away from our rooms. The soft sand is inviting, but locals frequent the beach in the evening. For a peaceful nap, savor your heavenly “Me Time,” observing palm leaves sway and the turquoise water transforms into golden hues.

4. Explore Islands and Fishing Adventures.

Fall in love with an island, where the coral world is a short walk away, and good food is always at your fingertips. The true charm, however, lies in scuba diving and boat rides.

Engage with local boatmen and learn the art of fishing with sharp hooks. Witness fishermen patiently waiting with widespread nets in shallow lagoons. Despite not spotting turtles while diving, the fishermen had caught one in their nets, releasing it back into the sea. As a seafood enthusiast, relish the delicious catch cooked by boatmen, offering an authentic taste of Lakshadweep. Experience island hopping, engage in fishing, and savor the best Lakshadweep cuisine.

5. Sunset Magic in Lakshadweep Islands Lakshadweep offers a unique sunset experience. There is no need to scout for the perfect spot, whether on the beach with kids flying kites or on a boat heading back to Kavaratti, facing west unveils a mesmerizing sunset. The sun, seemingly larger, paints the turquoise waters in shades of gray and copper. The beauty of Lakshadweep is that you can savor this magical moment without any prior planning.

Just face west and let the enchantment unfold.

Lakshadweep vs Maldives: A Closer Look into the Controversy The Indian Prime Minister, Narendra Modi’s recent visit to Lakshadweep on January 2, 2024, has triggered a significant shift in travel plans for many Indians, diverting attention from the Maldives. While this move is beneficial for the Indian economy, questions arise about Lakshadweep’s readiness for a sudden surge in tourism.

Obtaining a permit is a prerequisite for visiting Lakshadweep, even for Indian citizens, setting it apart from more accessible destinations like Andamans or Pondicherry.

Striking a balance, the local authorities must manage tourist inflow to prevent over-tourism and maintain the island’s unique charm.

With the local community’s pride and love for Lakshadweep Islands, there is confidence that conscious travel practices will be embraced. Tourists must view these

48 | January 2024

places beyond being mere backdrops for Instagram selfies. As we advocate to “Save the earth,” let’s remember that nature has its ways of preserving itself, urging us to travel responsibly and respect the destinations we explore.

Why Choose Lakshadweep over Maldives?

Lakshadweep has a unique charm that might make it a preferred choice over the Maldives. Here’s why: 1. Less Crowded: Lakshadweep is quieter and less crowded than the Maldives. Strict entry regulations help maintain the islands’ pristine beauty, offering a more serene and secluded atmosphere.

2. Authentic Cultural Experience: Lakshadweep provides a genuine Indian cultural experience. Interact with local communities, learn about traditions, and immerse yourself in an authentic cultural environment.

3. Untouched Natural Beauty: Known for its untouched natural beauty, Lakshadweep boasts pristine coral reefs, lagoons, and marine life—ideal for nature lovers and those into underwater activities.

4. Biodiversity: Home to diverse marine life, including various fish, coral, and turtles, Lakshadweep is a paradise for snorkeling and diving enthusiasts.

5. Government Regulations: Strict government regulations in Lakshadweep preserve ecological balance and promote sustainability, making it an attractive destination for environmentally conscious travelers.

6. Less Commercialized: Lakshadweep is less commercialized than the Maldives, offering an off-the-beaten-path experience. Limited tourist infrastructure contributes to a more authentic and unspoiled environment.

7. Cost Considerations: Traveling to Lakshadweep can be more cost-effective compared to international destinations like the Maldives, eliminating the need for international flights.

Comparison of Trip Costs: Lakshadweep vs. Maldives Here is a detailed breakdown of the estimated expenses for a romantic getaway to the enchanting destinations of Lakshadweep and the Maldives. From flight costs to daily expenditures, this comparison aims to assist travelers in making an informed decision based on their preferences and financial plans.

www.theenterpriseworld.com | 49

JANUARY 2024

www.theenterpriseworld.com

w w w . t h e e n t e r p r i s e w o r l d . c o m Follow Us On: