Category: Business

Why people prefer working as freelancers instead of going to jobs?

If you don’t want to go outside for work, Working as a freelancer is a very good option nowadays because people want to work According to them. freelancing is one of the great options when you want to work from home.

The pattern of work was changed, with the digital world development, now you can easily join the company, for this first you have to apply online for the position in some company according to your skills and after that, you get the job under few hours

But it does not mean that going outside for a job is a wrong pattern. In today’s world the pattern of work, selection criteria, and companies requirement changed with the development of the digital world. So there are points that will be focused on the fact that why freelancing is preferred by the people.

1) working as a freelancer, people have options to choose their schedules, they don’t have to follow other schedules, they can work according to their time. they don’t follow the office timing to complete the projects. The only demand of the projects is to be completed before deadlines, so people feel free and easy to work a freelancer.

2) when you are working as a freelancer, you can easily join the company by some online websites after that you can start your work from home by only sitting in front of a laptop or desktop. for this, you don’t have to go outside in the company. By this, you can easily work for extra hours and use that work to uplift your work.you have not any requirement to go outside and find out the work so in this way, you can use your travel time in work also.

3) when you are choosing to work as freelancers, you don’t have the requirement of higher academic qualifications. If you have some less academic qualification with that you can easily start your career, in the freelancing field there is the demand of skill, so if you have skills which have demand and also have future, you can start your career with that particular skill. and also learn new skills while working on different projects.

4) when you are working as a freelancer, there is not any limit of work, you can work according to your capacity, and as a freelancer, you are not limited for work only for the company where you live but you have options to work with any company which is located anywhere in the world. So by this option you also various other working skills and know some different work. For this first, you have to sign up for a freelancer online website. And make your profile and also write about your working experience, your skills, and after that place the project according to your skills and the charge that you will charge for that particular project also with the time in which you can complete that project.

5) freelancing is a very good option for students, housewives, and those who want to work and earn some money but have less time. This is also a good option for the college student who wants to work part-time and earn some extra money. For these people, freelance is good because in this you don’t have work for 7month or 1year to confirm your job if you have some skills that are demanding in the field so you can easily work on the project according to your time.

There are millions of people nowadays who work as freelancers and earn lots of money, they not only earn money but doing different projects they also have chance to polished their skill and increase their skills according to the competition.

If you’re someone who wants to learn some skills that are demanding in the world, you can easily find out them on the freelancer website without any extra charge. so by this, you can easily learn the demanding skills.

Hope so this will help you.

Why learning a new skill is important in today’s world

Well, learning different skills become very important in today’s world. Because there is huge competition in every field. If you want to compete in this world and achieve the success you have to surely learn some skills that is the only way to achieve victory.

Everything is changed nowadays like working pattern, selection strategy and also priorities, so if you want to compete with this new era you also have to change and explore some new skills that will help you to achieve success. At this time the pattern of work will change that does not mean the previous pattern is wrong but that pattern will not suit today’s life.

Some points will explain to you about the importance of skills, that how they are important in your life.

1) In today’s world the pattern of work will change. Since 4- 5 years ago, there will demand higher education, academic degree but now there is a demand for skills and the companies also want that their employees have skills, and they will increase the profit of the company.so if you have less Academic qualification this deficiency will be adjusted. But when you have fewer skills this will not a good for you so try to learn more skills.

2) Before 4-5 years, if you are not highly qualified you are not able to find out a good job or work somewhere. But now there is no problem of higher education if you are graduate or not graduate but you have some skills so this will not hamper your life.

3) if you are passionate about something you will earn a good amount of money from your passion. but for that, you have to learn some skills that are highly in demand or there is a requirement of that particular skill in the future. and you have to change yourself like a smartphone, update yourself with the demand.

4) sometimes ago, we see that people always complaints that they don’t want to continue further studies but they have to continue because there was no future without a degree but now time change if you are not interested in further studies you have the option to stop it and And start your career in whatever field where you have an interest, but you have to develop some skills so you will survive in that career because it is huge demand of skill and you have to develop that skills.

5) if you have time you can easily learn more than one skill and those skills will help you to uplift your financial conditions. you can easily handle one or two projects. And in this work, there is no burden because you can learn those skills in which you not only complete the work but also enjoy it. So in this way, you can also enjoy your life while doing work. you can easily understand the situation. And try to develop and evolve skills with time, so you can easily find out the demanding work.

6) The best thing about skills is that first, you have choices that you will learn this thing or not, and when you decide you can learn without any limitations, and if you have some skill that will increase the profit of the company you also have a choice regarding what you will charge for your services. If you are really good at that particular skill, customers have to pay according to the skill, so there is not any loss in learn some skills.

Developed more skills and become creative, there is the era of quality, not quantity because the machine is also doing work, so ask one question to yourself if the machine can do the same work that you will do then, why the companies will hire you .

SALE OF IMMOVABLE PROPERTY

What If Buyer/Seller Breaches Sale Agreement

 

 

Sale is the transfer of ownership for money consideration. Section 54 of the Transfer Of Property Act defines sales as a transfer of ownership in exchange for a price paid or promised to be paid.

The elements which are necessary to continue a sale as under :

  • Transfer of ownership
  • Money consideration

Parties of sale :

SELLER AND BUYER

Essentials for a valid sale are as follows :

  1. the parties i.e. the seller and the purchaser are competent
  2. the subject matter i.e. the property is in existence
  3. the money consideration i.e. the price has been fixed or referred
  4. the conveyance i.e. the transfer has been made as prescribed under the law.

Cancellation of sale deed :

A sale deed can be got cancelled, if the contract is affected by coercion, undue influence, fraud. An agreement to sell immovable property may also be void under section 29 of the Indian Contract Act, 1882.

If non-transferable property is transferred by a sale-deed, it is void and liable to be cancelled.

Seller’s duties and rights :

(BEFORE SALE )

  • to disclose material defects in the property or title, if any.
  • to produce the title-deeds for inspection.
  • to answer relevant questions as to title.
  • to execute conveyance.
  • to take care of the property and title-deeds.
  • to pay the outgoings.

(AFTER SALE)

  • to give possession to the buyer.
  • to covenant for title.
  • to deliver title-deeds on receipt of the price.

Buyer’s rights and duties :

(BEFORE SALE)

  • to disclose facts which materially increases the value of property.
  • to pay the price.

(AFTER SALE)

  • to bear the loss to property, if any.
  • to pay the outgoings.

DIFFERENCE BETWEEN CONTRACT FOR SALE AND SALE :

Topic 9. Sale of immovable property

 

 

 

WANT TO TRANSFER PROPERTY TO AN UNBORN?

Transfer To Unborn Person : All you need to know - iPleaders

TRANSFER OF PROPERTY TO AN UNBORN PERSON

Unborn person means a person who has not come into existence.

As a general rule, a property can be transferred between the two living persons that means persons should be in existence at the time of the transfer of the property.

Section 5 of the Transfer of Property Act,1882 defines the Transfer of property as :

“Transfer of Property” means an act by which a living person conveys property, in present or in future, to one or more other living persons, or to himself, 1[or to himself] and one or more other living persons; and “to transfer property” is to perform such act.

But, Section 13 of the TRANSFER OF PROPERTY ACT provides for remedy by which a property can be transferred or an interest can be created in the property in favor of an unborn person. This is not an exception for the general rule, in fact it is an extension of the general rule which widens the scope to make the transfer of the property.

Where on a transfer of property, an interest therein is created for the benefit of a person not in existence at the date of the transfer, subject to a prior interest created by the same transfer, the interest created for the benefit of such person shall not take effect unless it extends to the remaining interest of the transferor in the property.

Transfer to ub

FOLLOWING ARE THE ELEMENTS KEPT TO BE IN  MIND WHILE CREATING AN INTEREST IN FAVOR OF AN UNBORN PERSON :

  1. Transfer for the unborn must be preceded by a life interest created in favor of a person in existence at the date of the transfer.
  2. Absolute interest must be transferred that is the whole remainder.
  3. The unborn person must come into existence.
  4. enjoyment of interest may be postponed.
  5. Transfer must not be in perpetuity.
  6. No direct transfer.

EXAMPLE : A transfers property of which is the owner to B, in trust for A and his intended wife successively for their lives and after the death tog the survivor, for the eldest son of the intended marriage for life, and after his death for A’s second son. The interest so created for the benefit of the eldest son does not take effect, because it does not extend to the whole of A’s remaining interest in the property.

A————–W————–S1————–S2

LEGAL CONSEQUENCES 

The transfer in favor of unborn person must be preceded by a life interest and that only absolute may be given to the unborn has following legal consequences :

  1. The intermediary person living at the date of the transfer is to be given only life interest. It means giving him only the right to enjoyment and possession. He has to preserve the property like a trustee during his life-time on behalf of the unborn.
  2. The unborn must come into existence before the death of the person holding property for life. If the unborn comes into existence say, after month after the death of the last living person, the property shall revert back to the transferor or his heirs.

POSTPONEMENT OF ENJOYMENT

The enjoyment of the property transferred for an unborn person can be postponed for some future date. Section 14 of the Transfer Of Property act,1882 makes rule against perpetuity which means the postponement cannot be for unlimited period.

INTEREST AT THE TIME OF BIRTH

Section 20 of the Transfer of Property Act, where on a transfer of property, an interest therein is created for the benefit of unborn person not then living, he acquires upon his birth, unless a contrary intention appears from the terms of the transfer, a vested interest, although he may not be entitled to the enjoyment thereof immediately on his birth.

 

CONCLUSION

A property can not be directly transferred to an unborn person but if prior life interest has been created and the absolute interest has been made that is the whole of the remainder to unborn, then a property can be transferred in favor of an unborn person.

WANT TO KNOW ABOUT MORTGAGE?

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MORTGAGE : According to Section 58 (a) of the Transfer Of The Property Act,1882, a ‘mortgage‘ is the transfer of an interest in specific immovable property for the purpose of securing the following :

  • the payment of money advanced or to be advanced by way of loan,
  • an existing of future debt, or
  • the performance of an engagement which may give rise to a pecuniary liability.

In simple words, mortgage means taking of loan in place of some security (immovable property).

PARTIES OF MORTGAGE : Two parties are involved here which are as follows :

Lender Meaning

  • The person who transfers an interest is called the mortgagor.
  • The person in whose favor the interest in property is being transferred is known as the mortgagee.

INSTRUMENT : 

  • The instrument by which the transfer is effected is known as the mortgage deed.

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MORTGAGE-MONEY :

  • The principal money and interest of which payment is secured for the time being is called the ‘mortgaged-money’.

ELEMENTS OF MORTGAGE :

  1. Transfer of an interest
  2. Specific immovable property
  3. Consideration of mortgage

6 TYPES OF MORTGAGES : What are the Different Types of Mortgages in India?

SIMPLE MORTGAGE : 

It is a kind of mortgage where the mortgagor binds himself to repay the mortgage-money. No possession of the property is transferred in case of Simple Mortgage. It should be done by registered deed. The mortgagee can exercise his right to make the sale of that specific immovable property by the intervention of the court.

MORTGAGE BY CONDITIONAL SALE : 

It is a kind of mortgage where the mortgagor ostensibly sales his property on conditions :

  • on the repayment of such loan taken, the sale become void and the property will be retransferred by the mortgagee in the favor of the mortgagor,
  • in case of failure of payment of mortgage-money on certain time, the ostensible sale will become absolute.

In case of mortgage by conditional sale, the mortgagee has the right of foreclosure.

USUFRUCTUARY MORTAGAGE :

Usufructuary Mortgage is such a kind of mortgage where the possession of the property is being transferred in favor of the mortgagee so that the mortgage-debt or interest can be satisfied out of the rents or profits of that property. In such kind of mortgage, the mortgagee can neither have a right of sale nor of foreclosure.

MORTGAGE BY DEPOSIT OF TITLE DEEDS :

It is popularly called an ‘equitable mortgage’. It is a kind of mortgage where there is a delivery to the mortgagee, documents of title to immovable property with intent to create a security thereon. It requires neither a registration nor an attestation.

ENGLISH MORTGAGE :

An English Mortgage is a transaction in which the mortgagor binds himself to repay the mortgage-money on a certain date and transfers the mortgaged property absolutely to the mortgagee but subject to the condition that he will retransfer it to the mortgagor upon payment of the debt.

ANOMALOUS MORTGAGE :

In such a mortgage, the possession may or may not be delivered. A mortgage which is not a simple mortgage, a mortgage by conditional sale, an usufructuary mortgage, an English mortgage or a mortgage by deposit of title deeds within the meaning of section 58 is called an anomalous mortgage.

RIGHTS OF THE MORTGAGOR AND MORTGAGEE 

Mortgagee vs Mortgagor | 8 Best Differences To Learn (With Infographics)

RIGHTS OF THE MORTGAGOR :

  1. Right to redeem the mortgage.
  2. Right to inspection and production of documents relevant to the mortgage transaction.
  3. Right to redeem the mortgage separately or simultaneously.
  4. Right to appropriate accessions, if any, to the mortgaged property.
  5. Right to appropriate improvements, if any, to the mortgaged property.
  6. Right to renewal of lease where the mortgaged property is leasehold.
  7. Right to effect lease of the mortgaged property.

RIGHTS OF THE MORTGAGEE :

  1. Rights to foreclosure or sale of the mortgaged property in default of non-payment of debt.
  2. Right to sue mortgagor for the recovery of mortgage-money.
  3. Right to exercise power of sale if given under the mortgage-deed.
  4. Right to get a receiver appointed.
  5. Right to accession to mortgaged-property.
  6. Right to have the benefit of renewed lease if mortgaged property is leased out.
  7. Right to spend money in preserving the property, defending mortgagor’s title or in renewal of lease if the property is in possession.
  8. Right to receive proceeds of revenue sale of the mortgaged property.

DUTIES OF THE MORTGAGOR AND MORTGAGEE

Procedure of Transfer of Immovable Property

DUTIES OF THE MORTGAGOR :

  1. Liability to guarantee his title in the mortgaged property.
  2. Liability to defend his title in the mortgaged property.
  3. Liability to make payments of public.
  4. Liability to pay rents if the mortgaged property is leased hold and mortgagee is a lessee.
  5. Liability to discharge prior encumbrances on the mortgaged property.

DUTIES OF THE MORTGAGEE :

  1. Liability to manage the property with ordinary prudence.
  2. Liability to collect rents and profits with due diligence.
  3. Liability to pay the government dues in case there is no contract to the contrary.
  4. Liability to spend money for necessary repairs in the mortgaged property.
  5. Liability not to commit waste on the mortgaged property.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

‘Climate change and Corporate responsibility’

“We don’t inherit the earth from our ancestors, we borrow it from our children”   

 

According to united nations framework convention on climate change “Climate change means a change of climate which is attributed directly or indirectly to human activity that alters the composition of the global atmosphere and which is in addition to natural climate variability observed over comparable time periods”.

Climate is determined by many factors influencing energy flows the most important being greenhouse gases. Sun’s energy influences climate on earth. The amount of heat radiations which the earth receives depends on how far the sun is from the earth and the sun’s emission power. The sunlight received by earth, a part of it is reflected back to space by the atmosphere, clouds, land, water surface and ice. Aerosols tiny particles in the atmosphere can increase the reflection of sunlight. This solar energy absorbed by earth is returned to space as infrared (heat) radiations. Not all gases interact with infrared radiations. Some gases like water vapor, methane and carbon-dioxide absorb infrared radiation flowing upwards from earth’s surface and re-radiate it in all directions. They thus impede outward flow of infrared energy from earth to space. This is called ‘greenhouse effect and the gases that cause it are called greenhouse gases.

 

Climate change is a phenomenon which mainly occurs through natural or anthropogenic factors. Latitude, ocean currents, wind and air masses, elevation, relief and nearness to water are some important natural factors that affect climate change. Anthropogenic factors affecting climate change include air pollution from vehicles, crackers and industrial activity, overuse and exploitation of natural resources like fossil fuels and infrastructure activities lay roadway to development but at the same time affects climate severely.

 

Reducing climate change involves reducing the factors that affect it like greenhouse gases. We as citizens can reduce the human interference with climate change by lowering our fuel consumption which in turn is possible by using cycles instead of two or four wheelers, by using community vehicles more often, by walking to nearby areas instead of using vehicles, switching off power plugs when not needed, saving water by not wasting it while we bath, brush or clean things. United nations framework convention on climate change (UNFCCC) is an international environmental treaty addressing climate change, negotiated and signed by 154 states at the united nations conference on environment and development informally called the earth summit.  UNFCCC has its main objective to stabilize greenhouse gas concentrations in the atmosphere.  Today it has 197 member countries which ultimately works to prevent dangerous human interference with the climate system. Under this framework the industrialized countries have to report regularly on their climate change policies and measures, including issues governed by Kyoto protocol. They must also submit an annual inventory of their GHG emissions.

 

Kyoto protocol is an international treaty which extends the 1992 UNFCCC. Under this 192 nations committed to reduce their emissions by an average of 5.2% by 2012 which would be 29% of world’s total emissions. 

In 2019 a report published by the United Nations said that to limit the temperature rise to 2 degree Celsius, the world will need to cut emissions by 2.7 % each year from 2020 to 2030, and triple the climate targets. Even if all the Paris agreement pledges as they are in 2019, are fulfilled the temperature will rise by 3.2 degrees this century.  

“Corporate social responsibility is a concept whereby companies integrate social and environmental concerns in their business operations and in their interaction with their stakeholders on a voluntary basis.” 

 

CSR is termed as “triple-bottom-approach” which helps the companies in promoting itself as well as in fulfilling its responsibility that it hold towards the society at large. According to United Nations Industrial Development Organisation, CSR based on triple bottom line approach can help countries in the developing bracket to accelerate their socio-economic growth and help them become more competitive. Companies can fulfill their responsibilities through various activities like pollution control mechanisms, waste reduction or by contributing in educational and social programs. CSR is said to improve brand image of a company and increase its goodwill. 

 

There are three basic principles that comprise CSR- 

Sustainability- If resources of an organization are utilized efficiently then they will be available for the future generations too after satisfying needs of present generations. As the availability of resources is limited and non-renewable resources like oil, natural gas, minerals which are used in abundance are regenerated after long spans of years resources must be used optimally. 

 

Accountability- The main aim of a business organization is to maximise its profits. But apart from making profits a company should be accountable to its employees and community members. A satisfied and motivated workforce will work more productively than exploited workers. 

 

Transparency – From government’s point of view transparency is very essential for an organization. All its activities must be transparent so that if any organization tries to hide anything about the conduct of its activities it can be easily located.

 

Any actions that the organization undertakes has an effect on its external environment in which it resides whether it be social, legal, cultural or economic environment. An organization can have very significant effect on its external environment and can actually change that environment through its activities. Organizational activities can affect utilisation of natural resources, competition between various firms, land transformation or degradation dur to raw material extraction, distribution of wealth among owners and workers of the firm and the greatest of all affected is climate change due to greenhouse gas emissions. 

 

The most recent concern that every organization faces is effect of its activities on climate. Companies act, 2013 has formulated section 135, companies (corporate social responsibility) rules, 2014 and schedule VII which prescribes mandatory provisions for the companies to fulfill their CSR. A company or subsidiary of the company having net worth of Rs. 500 crore or more or turnover of Rs 1000 crore or more, or net profit of Rs. 5 crore or more during the immediately preceding financial year must undertake CSR activity. A foreign company having its branch office or project office in India, which fulfills the above criteria is applicable for CSR. However, if a company ceases to meet the above criteria for 3 consecutive financial years then it is not required to comply with CSR provisions till such time it meets the specified criteria.

Every company on which CSR is applicable is required to constitute a CSR committee with directors on its board. 

 

Functions of CSR committee- 

 

Formulate and recommend to the board a CSR policy which shall indicate all the activities to be undertaken by the company Recommend the expenditure required on the above mentioned activities. 

Monitor the CSR policy from time to time. 

Institute a transparent monitoring mechanism for implementing the CSR projects or programs undertaken by the company. The board of directors shall disclose contents of CSR policy in its report and the same shall be displayed on the company’s website. 

Schedule 7 of the act states the activities that the companies can undertake under CSR- 

Eradicating hunger, poverty and malnutrition, promoting health care including preventive health care and sanitation. 

Rural development projects.

Slum area development. 

Promoting education, including special education and employment enhancing vocation skills. 

Promoting gender equality, empowering women, setting up homes and hostels for woman and orphans, setting up old age homes, day care centers etc. 

 

About 20 most influential companies contribute one-third of all the greenhouse gas emissions that we have presently. Companies can reduce their greenhouse gas emissions as a part of social obligation, by following stringent guidelines. Smart thermostats and motion-activated lights can be used to avoid wasting energy, reducing GHG emissions. Companies can measure and analyse GHG emissions and accordingly reduce its energy consumption. They can use renewable energy sources, can use environment-friendly infrastructure and transport, promote environment-friendly ways of working and most important of all it can spread awareness among its employees and various stakeholders. 

 

Companies take actions to reduce GHG emissions in the environment. Microsoft has pledged to reduce operational emissions by 75% by 2030, but has been operating as 100% carbon neutral since 2012. Tata chemicals spent the highest on CSR in 2019, although its prescribed CSR budget for 2019-2020 was 21.39 Crores, the company spent 37.81 Crores on community development projects. Tata chemicals as a part of its CSR responsibility established Tata chemicals society for rural development in 1980 as a society and trust. 

 

Since the lockdown began TCSRD has been actively supporting government by distributing disinfectants, stitching masks, ensuring food security and providing medical help. Infosys Ltd. Spent 2% of its profit towards various schemes of corporate social responsibility. BHEL a government company as a part of its corporate social responsibility for COVID-19 relief , organized ‘Swachhata Pakhwada 2020’ from July 1 to 15, 2020. Mahindra and Mahindra ltd company spent 93.50 Crores out of which 8.36 Crore was spent on project Nanhi kali which provides educational support to underprivileged girls in India through an afterschool support programme.

 

Covid-19: impact on Small Scale Industries

It has been over a year since the Covid-19 pandemic came to India and caused widespread havoc. The virus got noxious day by day even after the implementation of a nationwide lockdown.

This catastrophe was and is still so devastating that it has latched itself on to the economy of the country like a deadly sting of a bee. Though no sector has been left untouched by the pandemic’s spell, the small-scale industries have been hit very hard.

Indian small-scale industries play a key role in India’s export business. 45% to 50% of the Indian export is being contributed by Small Scale Industry sector. Unfortunately, this key business sector has been blown severely by the situation.

More than 80% of the small-scale businesses have suffered a negative impact due to Covid-19 and 70% expect that would take a year for their demands to recover to the pre-pandemic times, as observed by the survey of Dun & Bradstreet, a provider of commercial data, for businesses.

The survey also found out that 60% of the small business would require more support including initiatives by the government to stand up to the ill effects of the pandemic.
It further pointed out the 3 top challenges that might hinder these small businesses to expand, which are- market access (42%), improving the overall productivity (37%), and having access to more finance (34%).

During this time digitization in various sectors and even small businesses have earned them cost reduction and productivity. Small scale businesses have cut their costs by 54% during the time.
The Managing Director of Dun & Bradstreet India says “globally, digital adoption has been accelerated by 7 years due to the covid-19 crisis”.

The pandemic has aggravated the problems of credit facility, market support, and technological advancement that already persisted in pre-covid times.
“Given the intensity and duration of Covid-19, these problems will continue to exist in near future,” says Arun Singh, Global Chief Economist, Dun & Bradstreet, India.

STEPS TO TACKLE THE SITUATION:

  1. Government should allocate funds to these small businesses through financial institutions. These institutions must provide loans at low rates.
    2. These banks must provide loans after obtaining minimum security.
    3.The gap between the customer and producer must be bridged through effective marketing, by organizing fairs and exhibitions.
    4.The licensing procedure must be simple and at ease.
    5.Technological support must be provided to these businesses for their modernization.
    6.Training must be provided to entrepreneurs in technological, managerial, financial, and marketing areas.

We as the citizens of our country and potential customers of the small businesses must also contribute to uplifting them.
After all, what is more, heartwarming than lighting someone’s home and life?

WHAT WE CAN DO FROM OUR SIDE?

There are many small small steps that we can take, for instance,
instead of buying packed flour, we can purchase grains and get them ground from the small local mills.
We can privately fund small incense stick manufacturers and help them in their progress.
We can buy dry snacks from local bakery shops.
Likewise, we can support many other small businesses in our everyday life and bring a difference to them.

After all, helping others is not just a responsibility but it gives real meaning to our lives.

‘THE LIPSTICK EFFECT’

 

As Covid-19 streaked the globe in March, many businesses soared or plummeted as the pandemic wrought sudden sweeping change on the market environment. While some businesses like medical suppliers, drugs and chemists, small scale mask manufacturers, online education platforms, digital gadget markets soared high while many other businesses like restaurants, bars, hotels, malls etc were forced to shut down. Imposing lockdowns led to panic buying wherein consumers started buying essential goods like monthly groceries and hoarding them. Some switched to selective and cheaper buying. Unemployment soared and consumer spending fell causing major global economies to slide into recession.

 

This shift in consumption pattern created an altogether different trend where less costly consumer goods dominated purchases. The stock market reached its highest level with Nifty crossing 15000 mark and Sensex soaring as high as 35000. All this seems contradictory to what the situation validates.   

 

Economists accredit these gains to  ” The Lipstick effect “.

 

What is ‘The lipstick effect’

 

The lipstick effect is a theory in economics propounded in 2001 by ‘Leonard A Lauder’ chairman of a cosmetic company ‘Estee Lauder’. It states that at times of economic crisis or in periods of recession consumers demand shifts from costly and expensive luxury goods to less costly luxury goods. Consumers buy luxury goods even if there is crisis. During times of such economic distress consumers confidence in economy falls and their demand shifts to such goods that doesn’t affect their income much. In other markets besides the cosmetic industry For eg: instead of going on a tour to some country or buying expensive fur coat or jacket consumers prefer to go to cinemas, restaurants or simply buy less costly gadgets.

 
During the great depression American economy saw 25% increase in cosmetic sales, while in 2008 when economies were under recession cosmetic company L’Oreal saw 5.3% increase in sale of its products. In 2001 during 9/11 attacks when the US economy was under pressure Lauder saw a significant increase in sale of lipsticks in his company. He, thus appraised that there was a negative effect between economic condition and lipstick sales. This is how ‘The lipstick effect’ came into existence. However, all these examples majorly focus on lipstick but the word ‘lipstick’ is used in generalized sense and includes all other luxury goods that consumers purchase even at the time of crisis.
 

What the lipstick effect has to say in Indian context ?

 
Pandemic has impinged economy leading to tremendous fall in GDP, employment, Investment and most important of all consumer’s demand. The lockdown and the period afterwards saw a mixed bag of varied demand patterns. Broadly three different demand patterns were working simultaneously – normal demand, pent-up demand and inventory build-up. In August 2020 Boston consulting group reported that while there has been a rise in consumption of essential goods like health products, and home entertainment, positive sentiments ware also noticed around other essential items like personal care products, packaged foods and discretionary segment like apparel, cosmetics, consumer electronics. In September 2020, Shopper stops reported 33% increase in eye-makeup sales. In quarter two of 2020-21, Godrej consumers’ business saw 5% increase in its sales. Share prices of many such brand rose for eg: share price of Cinthol soap rose to 36% from 33% before the pandemic.
  

Is the lipstick effect glimmer of hope for the brands in the new normal ?

 
The lipstick effect offers an interesting insight that even during slump, trusted brands find a place in consumer’s wallet and are purchased as usual. However, this can be observed only in the case of less expensive goods and doesn’t apply to all the categories. Ceding many of their activities and expenditures including eating out due to growing fear consumers seem reluctant to spend at costly restaurants. Due to travelling restrictions their outing trips have reduced leading them to save more money for their future expenditure. Apart from saving for future, consumers have adapted themselves to this new normal and started spending on things like refurbishing their homes, decorating rooms with less costly luxury goods maybe a vase or pot that they always wanted to spend on, buying things for their new hobbies and all those small acts that cheer and give hope to them. A new car purchase might have been postponed, or a foreign tour has been cancelled but small pleasures every now and then have taken a toll over other spending.  by small acts that keep them happy just like purchasing a lipstick is.
 
As J.K Rowling has rightly said “Happiness can be found even in the darkest of times; if only one remembers to turn on the light”. Even after the fatality of the pandemic demand by consumers will still be exceptionally characterized by irrationality and altogether opposite behavior. But what brings light to the overall situation is how well these branded businesses grab this opportunity and contribute their parts in comforting this economic crisis. Advertising can rekindle this hope. Using creative themes like togetherness, warmth, joy can help. Be kind, hopeful, positive and get the consumer to see more of your brand as a friend, supporter and a well-wisher.  

 


Signing off
Janhavi Thakre

 

How to make money on Instagram | Instagram strategies to earn

How to make money on Instagram

I am delighted if I caught your sight through the headline buy hey that is true you can earn so much via Instagram and I am here to guide you through the Instagram algorithm and strategies.

Instagram strategies to earn

There are 2 types of business you may be deciding to land on.

  • To market your products to sell your product
  • To be a blogger and recommend products that the organization has asked you to sell.

These are the two probabilities of how you can make money Below are the essentials that will help you to get started. Read all the instructions wisely and start implementing them to your Instagram account.

Instagram

 

  1. Selling your products:

If you have to get sales done by selling your product online the procedure is as follows.

  • Make your Instagram account giving it the user name that defines your company/store and set your logo as a former step to get started,
  • Reach out and ask your friends, family, and people you know to follow you.
  • Post your updated products mentioning their description in the caption area while not forgetting to keep your clients updated on new upcoming products on your story.
  • Ask your clients to dm(direct message) you or directly comment on the product they need to buy and from here you can start.

This was all about selling products online through Instagram which is all free to use, your task is just to engage more people by following you. Just the only thing to keep in mind is asking people to provide feedback to your site which you can surely provide in the description and always try to better take their feedback seriously.

  1. Blogging:

You can start being a fashion, food, or travel blogger. Set up your profile and start posting daily about what you do all day, what you eat, how you work,  this is all to generate more followers. The more real followers you gain, the more the brands would reach you. If you write some blogs on your website so don’t forget to put that in your bio and ask people to read that as well. While you keep blogging you can also sell your own products and mention the link that people can access and buy the product.

Reach out to more number people:

This always remains a major issue, I have some points that you must follow while continuing to manage your profile:

  • Use hashtags(#) that belong to your field.

Example: If you are a food blogger, you can use , #deliciousm #yummy #indianfood #chinesefood #desifood #mumbaifood #chocolates, etc… and you can simply search these hashtags on Google and use them in your caption for better reach of your particular field.

  • Tag people in your post, it may be influencers or the organization you are targeting to reach you for the brand promotion.

Tips for Instagram followers:

  • Do not use fake techniques available on the internet or on youtube to gain fake followers because doing so will probably make you unhappy in the end.
  • Be genuine with your content and people will slowly reach out to you.
  • Add Instagram with your other social accounts so that maximum people can join you and can follow you easily.
  • Share your Instagram link to all the WhatsApp groups available and ask your friends too to share them as well.

Keep creating your content and share updates on your Instagram stories and don’t forget to share about your background stories, trust me people will get connected to you soon.

Soon brands will reach you out and will ask you to add for their brand and will pay you the desired amount what is your responsibility to have the same spirit till last and manage to get engagements to your account.

Hope it helps!

 

Business Development | Skills to become a Business developer

Business Development

The work of forming strategic opportunities for a business or the place you are working at is known as Business Development. It includes giving ideas or generating for the company/business to grow. It can be by increasing sales and making a profit to the organization by building strategic partnerships and building business decisions.
I have worked as an intern as a business developer, and my work was to generate sales for the educational organization. Since I was a college student and was confident to get the clients and soon I was hired. I generated 4-5 sales within a span of 1 month and also got paid. As my first internship, I was happy to work as a BD (business developer) and get paid as well. During my internship as a business developer, I worked under an HR (human resource), the work of HR is to recruit skillful business developers, screening and provide training to the job applicants benefiting the company. Working under HR is telling him/her about everyday tasks done to grow the business. I still remember my HR daily used to keep track of all the recruiters and asking them if they made any sales.

Skills to become a Business developer:

1. Firstly a person with good marketing skills can attain this internship/job.
2. Convincing people faster is the ability to get a person to your side and make them do what you ask.
3. Make people trust you, this is a quality of a BD. But yes never lie to your client that he would regret it in the future, be transparent and tell them the pros and cons that are real and not made just for your benefit to get clients.

business developer

Roles of a Business Developer:

1. Business expansion
Remember you get hired only because they saw an ability in you to expand business benefitting them.

2. Get them Clients
The sale means getting them sales who will pay for the services, it may include generating sales by selling courses of the organization profiting the company. Sales are having one-to-one conversations with the clients and asking them to participate in the organization and telling them about all the services they will be getting after they pay for the organization.

3. Client service and experience
This is a very important role that is after you generate clients and get sales done asking about feedback is very important. Asking the client his/her experience is the same as winning the hearts of the client and will also profit you later as it may help you to understand the flaws done before and now you will be sure not to repeat them.

4. Strategic Initiatives
Make strategies, a step-by-step procedure to generate sales and business to grow.

5. Market Development
Market Development includes growing business to the highest extent you can.

6. Marketing
As discussed earlier it is the skill required for you to get into the job of a business developer. Marketing is everything doesn’t matter how big or small a company is, a person with good marketing skills can uplift the organization the way nobody else can.

The goal of a Business Developer:
• To make Business better.
• Generate revenue profit from market
• Compete with other businesses
• Business expansion

How much do Business developers earn?
The average salary for a business developer is 19,925 per month in India.
Also if you have the capability to grow the business more your salary could be up to 1.5 lakh/month
A career as a business can be tough and challenging but with time you learn all the tactics and realize that the work all depends on your skills.

Turn your career in a better way:

Do not wait for the other opportunity and grab if you really think you deserve to be a good business developer. Apply to internships on Internshala and many online platforms like Internshala and gain experience to learn how the work is done which will help you to attain a good business developer job at a good salary.

All the best!

Best Job Opportunities during Covid-19

It is easily understood that how Covid-19 has actually and adversely affected financially which genuinely turned thousands of people Jobless during the pandemic. This is no new to accept that crisis has taken over a complete year, which affected poor lives but middle-class people have in every manner badly affected.

But all these don’t matter, Ah! It has become a habit to talk on the same topic nut still couldn’t help our minds enough. The serious issue is being Jobless, the agreeable part is that most of the jobs can be done both online and offline but not all. Some of the Jobs can never be placed with an online medium like selling in a store, construction work, painting, seller, and whatnot. But wait Did I say that these can never be done in any way. No these all can be done with the potential we all used to do with. Below here are some of the ways you can earn online savings and concerns about you and your family.

Laptop work

Ways to earn Online

  1. Web designing:

This can turn boom in your life if you like coding and have a basic understanding of how things work, honestly, there are 100’s of tutorials available on the internet and Youtube which are helping millions of candidates to uplift their web designing skills. Just a basic knowledge of HTML and CSS will give you a good start.

 

  1. Blogging:

Now, this is a bonus skill that doesn’t need too much experience but requires a basic understanding of how it was always taught by our English teacher to write an essay, article, paragraph or maybe report writing. If you think you have enough knowledge about any topic you like just start writing on it. You can start with forming a collection of articles and your content creations on your PC learning basic concepts and keep revising topics and reading more about the topic you are interested in. Don’t worry if you don’t know how to create a website, there are multiple free online websites that are helping beginner bloggers to get started with their website and start sharing content. Some of the online portals are Blogspot and WordPress having multiple options to add your desired image, change font style font size, make bold or add several headings and subheading in the easy language it is like a text editor like MS Word.

Thousand’s of blogs are registered daily which can also turn into a good source of income. A part-time blogger, who spends four to five hours a day can earn anywhere between Rs 10,000 to Rs 15,000 in a month while a full-time blogger earns close to Rs 40,000 to Rs 50,000 in a month. So what are you waiting for, start showcasing your writing skills and earn a decent salary on regular basis?

 

  1. Freelancing:

So if you are an engineering aspirant this is obvious to know an=bout freelancing. But worry not if you have no idea about what includes that.

Freelancing is an online site in which several small and big businesses are helping young and enthusiastic people to hire them in the field they are interested in. There are multiple jobs like graphic, web designing, web applications, business development, content writing, and many more. We all work to either gain experience which will help us to get a good job or either we work to earn on regular basis. Freelancing pays the candidate with the work he/she does giving experience and a good understanding of how things work.

 

  1. Vlogging:

Capturing something on camera is always fun and when it is about earning, then what else could be better. Youtube is a well-known worldwide famous application where we can regularly post videos on the topic we are best at, it may be cooking, blogging such as travel vlogs, food vlogs, fashion vlogs, or maybe art craft, dance, music, and the list goes on. And if still, you are not better with these skills, you can definitely start being a teacher in the stream you are. Vlogging is quite fun to learn, the only thing is it needs posting consistent content and much hard work which already is obvious.

 

  1. Social media management:

Trust me this seems easy and which actually is. As a beginner having no prior experience at any other skills you can always move towards social media management. Understanding the basic idea about it. The work of the social media manager is to handle the social accounts and advertise the company you are working at. The work is to regularly share content via various social networks where maximum crowd spend their hours, these include Instagram, Facebook, Twitter. You may be asked to post stories, advertise them, post articles and info. On Facebook via reels or as an Instagram post. This can be a good opportunity to gain some marketing skills too.

Happily, these all ways are can turn prominent about having a secondary income stream.

If we discuss various earning fields then there are thousands of things to be listed, but necessarily the basic which can be started by anyone new can start with anyone mentioned above.

 

BASICS OF DIGITAL MARKETING

What is Digital Marketing?

Computers and the internet have made it easy for us to do many things simultaneously. It has revolutionized our thought process. With the Covid-19 pandemic the entire world has adapted to the situation by working from home. The use of the term ‘Digital Marketing’ has increased during this time frame. It is used to promote small businesses as well as large scale businesses. We make use of it from the time we use our phones to surf social media platforms like Instagram, YouTube, etc to making deals and strategies for our company or brand. Digital devices, platforms, media, data generated and technology are the foundations of digital marketing.

Milllenials are considered as ‘digital pioneers’ of technology and social media. It is the generation to be born into a world which is at its peak technological innovation. It has seen the rise of many Influencers and social media pioneers who make content and earn through brand collaborations. For a brand, an online presence has never been as important as today. Online brands like Amazon, Google, Zomato, Myntra they’re all based on keeping their online audiences engaged.  As Albert Einstein said “In the middle of difficulty lies opportunity” there is an opportunity for us to seize even in a pandemic. Marketing yourself is the best strategy to follow in this digital era.

Types of Digital Marketing –

With digital marketing platform, you can gain a better understanding of what type of content resonates with the customers. This allows marketers to understand the demand of the consumers. It is entirely dependent on the engagement rate of the audience.

Digital Marketing can be branched into Search Engine Optimization or SEO Marketing, Email Marketing, Social Media Marketing or SMM, Influencer and Affiliate Marketing, Pay- per-click or PPC Marketing. When the customer is looking for something to buy they will probably click on one of the first results that show up on Google. Hence SEO Marketing comes into the picture. It consists of learning strategies on how to rank your own website on Google using appropriate keywords. It is more credible form of marketing. Email marketing allows organizations to stay connected with customers and clients via newsletters and connecting employees within a company to interact formally. Social Media Marketing involves Instagram, YouTube, LinkedIn, Twitter for promoting brands, businesses or their skills using visual effects. It depends upon the impressions, comments, conversions, clicks, etc. Influencer Marketing requires you to choose up a specialty and create a platform and gain followers. The followers trust the influencers, which makes them likely to buy a product recommended by them. Affiliate Marketing is to promote other brands and earn a certain percentage through it. Pay-per-click or also known as PPC is one of the most common types of digital marketing. It charges you for the number of clicks that you get on your advertisement. PPC comes under search engine marketing and content or social media marketing.

Digital Marketing is cheap, measureable and has high returns. Various resources online provide insight into what digital marketing is. There are many students studying in universities who decide to take up Digital Marketing as their major and make a career in this field. The knowledge and skills are just as important as it is to keep ourselves updated with the ever changing technology.

FUEL PRICE SURGE ADDS TO THE WOES OF PANDEMIC HIT INDIA

The oil marketing companies have continuously been surging the price of fossil fuels for the past few weeks which resulted in the prices reaching an all-time high. During a time when the country is struggling to recover from the covid crisis, the fuel price hike is sure to have a tremendous impact on its citizens and economy. The rise in the price of commodities and public transportation are expected along with a significant dip in the automobile industry. Today, the price of LPG cylinders have been increased by 25 rupees, resulting in a cumulative hike of about 200 rupees within the past three months.

India, being the third-largest importer of oil in the world has always ended up on the suffering end whenever the crude oil price has seen a surge in the international market. The recent firming of international crude oil rates in addition to the high taxes levied on fuel by central and state governments is the major reason for the extremely high fuel price in the country. Since India follows a dynamic system for altering fuel rates, oil marketing companies are mostly responsible for the recent hikes and the government has no control over it. However, the government does impose a tax on the base price of fuel. At the moment, Indians pay one of the highest taxes on fuel in the world.

By late January, the price of extra premium petrol has touched the magic digit of 100 at Rajasthan, with Madhya Pradesh and many other states following the trend in early February. The price of diesel has also set the record of reaching an all-time high in the past days. A remarkable fact is that the Indian citizens are paying about 200% of the actual fuel price as taxes, by far the highest anywhere in the world. Sources close to the oil companies have reported that the fuel prices might see a further hike as the companies will be forced to meet the global developments to avoid making losses on the sale of the fuels. The price of LPG is also on the rise with the surge being constantly climbing higher for the third in this month itself. Within the last 10 days, the price of LPG was increased by more than 50 rupees.

The government is looking forward to getting the situation under control as the surge in the price of auto fuels can directly reflect in its economy and might even result in inflation. Though short term remedies like cutting down taxes and other related costs are in line, the major emphasis is on turning towards sustainable and renewable energy resources and reducing the dependency on fossil fuels in the long run. Plans have already been laid on increasing the natural gas share in the energy basket and to cut short the reliance on fossil fuels to about 60% of the total energy share by 2030.

INSURGANCE OF OTT PLATFORMS DURING COVID TIMES

The imposition of lockdown on account of the COVID 19 pandemic marked a major retard in the growth of many leading industrial giants. Unlike the rest, OTT  is one among the few industries which marked an exponential growth since its inception. Though the OTT platforms are not a fresh face in the entertainment industry, the burgeoning of the sector was a never expected one until lockdown happened. Amazon Prime, Netflix, Disney Hotstar are the few OTT platforms which benefited from the imposition of lockdown. 

The television broadcasting companies failed to meet the demands of its viewers and was forced to rerun existing contents as the production industry was under a halt. The average screen time has simultaneously increased which resulted in people searching for fresh contents. The video on demand services gained popularity over the masses as it provided the flexibility to watch contents on our likes at our wish.  In addition to this,  these platforms released their fresh as well as original contents consistently and managed to maintain the initial consumer interest. These conveniences dragged the viewers towards OTT services and generated a buzz by increasing the traffic into these platforms even during the pandemic times. While the theatres and multiplexes remained closed for many months, film producers noticed the scope of the OTT industry and made an audacious move by releasing their films digitally for the first time to cater to a wider set of audience. 

It is estimated that an average person spends around 40% of their waking hours in front of a screen which makes almost seven hours a day. The OTT platforms have added a whopping 3-4 million subscribers to their existing viewership. This figure also included people viewing more non-broadcast content on platforms like YouTube and gaming sites. Just like how television revolutionised the early 90’s, OTT is bringing a new wave of change to the entertainment industry. These changes are always for the better and are inevitable.

BEHIND THE SCENES: A CONCEALED FACE OF THE FASHION INDUSTRY

The fashion-cosmetic industry is a multibillion-dollar consumer-focused ever-growing global enterprise that has become an indispensable part of our lives. Everyone has a fashion or cosmetic brand which is close to their heart, but are heedless of its dark side. Animals and animal materials are vastly used in the industry, but the barbaric processes behind this are often left unaddressed. Certain kinds of animals are overbred for the production of fashion products with animal materials resulting in the extreme use of resources and the production of organic and toxic waste. These animals are denied basic comforts of living where they are confined in abhorrent conditions with restricted space for movement, mere food and brutally slaughtered at the end. Certain exotic endangered species also fall into this wretched fate for fashion. When affected with diseases, these animals are often rejected medical care and are placed alive in plastic bags to die. 

Animals are skinned alive for fur, feather, leather, wool, etc and are also subjected to various chemical experiments for the cosmetic industry. Millions of animals including unborn calves are skinned for the production of leather, a timeless trend of the fashion industry. These animals are treated ruthlessly where they reach the factories deprived of food, water and rest; are castrated and skinned alive by hanging upside down and eventually bled to death. Many believe that sheep are not harmed for the production of wool but on the contrary, they also have to undergo inhumane treatments like mulesing during the process. It is estimated that about 1 million sheep die from exposure to cold as the wool which is meant to protect them from the weather is sheared off in winter itself to meet the market demands. In Australia, a global leader in merino wool production, sheep are specifically bred to have wrinkled skin to increase wool production. But this makes their skin more prone to flystrike, a condition where the flies lay eggs in the skin folds and maggots eat the sheep alive. In order to prevent flystrike, mulesing, a practice in which huge pieces of skin are carved off the buttocks area is done. This process which causes great pain to the animal is carried out without anaesthesia. The sheep are sent to slaughterhouses once their wool production descends. Birds like parakeets, egrets, ostriches, and animals like mink, chinchillas, foxes, dogs, rabbits, cats etc caught for their feathers and fur also undergo the same fate. 

In order to ensure the safety of the customers, the companies of cosmetic and personal care products use animals to test their products. As the New England Anti-Vivisection Society (NEAVS) describes, animals are subject to “testing new drugs to infecting with diseases, poisoning for toxicity testing, burning skin, causing brain damage, implanting electrodes into the brain, maiming, blinding, and other painful and invasive procedures.” Mice, birds, rabbits, monkeys, dogs, and cats are the common victims of vivisection (live testing) and spend the majority of their lifetime inside cages of laboratories. The exposure to these chemicals have severe impacts on these animals.  Pain relievers are never provided and they always die or get killed at the end of each test. 

We should strive to help these animals to have a life instead of “trapping animals in bone-breaking steel traps, clubbing them to death, electrocuting them through the mouth or anus, breaking their necks and backs, skinning them alive”. A fashion industry without harming animals is always possible and we all share this responsibility as this world is theirs too.