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Dear reader, As another week draws to a close, the financial world is abuzz with excitement, with markets hitting all-time highs and raising questions for investors on how to best navigate this promising terrain. We explored some strategies for <keyword id="20223034" type="General" weightage="20" keywordseo="mutual-fund" source="keywords">mutual fund</keyword> investors looking to capitalise on India’s robust growth, despite some experts warning of overvalued conditions. But it was not all about numbers; the <keyword id="20665553" type="General" weightage="20" keywordseo="remote-work" source="keywords">remote work</keyword> debate also heat up again this week. A former <keyword id="19904608" type="General" weightage="100" keywordseo="Amazon" source="keywords" meta.keywordsubtype="org" meta.entityname="Amazon" meta.hostid="261" meta.entityid="Amazon">Amazon</keyword> employee had even spilled the beans on creative tactics used by workers to skirt the company's recent office mandate. Meanwhile, in a tech-savvy twist, Bengaluru's traffic police have deployed AI-powered cameras to ensure that rule-breakers aren't slipping through the cracks, whether or not an officer is present. This innovative move raises the stakes for those who might think twice about cutting a red light or using their phones while driving. In a more personal journey, a 41-year-old bank worker reveals how simple dietary changes and a straightforward workout technique transformed his physique, proving that it’s never too late to make positive lifestyle changes. And for music lovers, the excitement surrounding <keyword id="20399945" type="General" weightage="20" keywordseo="Coldplay" source="keywords" meta.keywordsubtype="org" meta.entityname="Coldplay" meta.hostid="261" meta.entityid="Coldplay">Coldplay</keyword>'s upcoming performance in India is palpable! However, with scalpers jacking up prices to exorbitant levels, we highlight how it may actually be cheaper to catch the band live in Abu Dhabi instead of facing the steep markups in Mumbai. Join us as we unpack these intriguing stories and more, ensuring you stay ahead of the curve in today's rapidly changing landscape. <h2>Top stories from the week</h2> With markets hitting all-time highs, how should you position yourself as a mutual fund investor? Despite experts currently pegging the market to be in over-brought category, with elevated valuations, India will continue to be amongst the world's fastest growing economies in the medium term. Per <keyword id="23344116" type="General" weightage="20" keywordseo="goldman-sach" source="keywords">Goldman Sach</keyword>'s India strategy, companies operating in the auto, chemicals, real estate, FMCG and other consumer durables may observe a large surge in their profits, with consumer durables registering the highest growth in this cycle. So, how can investors make the most of this uptrend? We decode that for you. <a href="https://www.businessinsider.in/stock-market/article/with-markets-hitting-all-time-highs-how-should-you-position-yourself-as-an-mutual-fund-investor/articleshow/113662022.cms?upcache=2&amp;utm_source=BI_newsletter&amp;utm_medium=newsletter&amp;utm_campaign=weekly_digest&amp;ncode=eac724db06a1b423589790353cd35d8482c05a95522ed6abfc285ccd372de143c1b9eb738a682068e6154cea1ecc535b90f24d3e6a144cc072a4cef9bdd7e86aa61f0a704e77dfb4465e87c057ec6b95&amp;nl_id=6638a138c5fe91bbf47baa33" data-type="tilCustomLink" target="_blank">Read more</a> Rename home Wi-Fi, leave badge at office: <keyword id="23344115" type="General" weightage="20" keywordseo="ex-amazon" source="keywords">Ex-Amazon</keyword> employee reveals tricks used by employees to not work from office Amazon's recent decision to end remote work and require employees to return to the officesparked controversy. A former AWS engineer shared tactics employees used to dodge the mandate, including badging in briefly, renaming home Wi-Fi networks, and using colleagues to clock in. These tricks highlight ongoing debates about remote work's future. <a href="https://www.businessinsider.in/tech/news/rename-home-wifi-leave-badge-at-office-ex-amazon-employee-reveals-tricks-used-by-employees-to-not-work-from-office/articleshow/113619411.cms?upcache=2&amp;utm_source=BI_newsletter&amp;utm_medium=newsletter&amp;utm_campaign=weekly_digest&amp;ncode=eac724db06a1b423589790353cd35d8482c05a95522ed6abfc285ccd372de143c1b9eb738a682068e6154cea1ecc535b90f24d3e6a144cc072a4cef9bdd7e86aa61f0a704e77dfb4465e87c057ec6b95&amp;nl_id=6638a138c5fe91bbf47baa33" data-type="tilCustomLink" target="_blank">Read more</a> Hopping signals or using phones when cops aren’t there? You’re still going to get instant-fined, thanks to Bengaluru’s new AI cameras If you've ever found yourself sheepishly glancing around after cutting a red light or using your phone while driving, only to relax because "no cops in sight," think again! In Bengaluru, the traffic police have gone tech-savvy, and they're now leveraging AI to keep an eye on you – whether or not there’s an officer standing by. <a href="https://www.businessinsider.in/tech/news/hopping-signals-or-using-phones-when-cops-arent-there-youre-still-going-to-get-instant-fined-thanks-to-bengalurus-new-ai-cameras/articleshow/113733172.cms" data-type="tilCustomLink" target="_blank">Read more</a> A 41-year-old transformed his body with 2 diet changes and 1 simple workout technique A bank worker in his 40s got more defined muscle with simple tweaks to his routine. He burned fat by paying attention to portion sizes and setting a daily protein goal. <a href="https://www.businessinsider.in/science/health/news/a-41-year-old-transformed-his-body-with-2-diet-changes-and-1-simple-workout-technique/articleshow/113532951.cms" data-type="tilCustomLink" target="_blank">Read more</a> It is cheaper to watch Coldplay perform in Abu Dhabi than to pay scalpers for Mumbai tickets Grammy-winning pop band Coldplay is all set to perform in India in January 2025 and the tickets went on sale recently. While excited fans rushed to book the tickets, most fans unfortunately couldn’t get their hands on them despite the band adding an extra show due to overwhelming demand. Not all tickets were booked by fans as a lot of tickets showed up on re-selling platforms and social media, with scalpers charging a bomb for these tickets. With tickets costing as much as ₹3.65 lakh on re-selling platforms such as Viagogo, there’s another option for Coldplay fans to see their favourite band perform without burning a hole in their pocket. <a href="https://www.businessinsider.in/entertainment/news/it-is-cheaper-to-watch-coldplay-perform-in-abu-dhabi-than-to-pay-scalpers-for-mumbai-tickets/articleshow/113665893.cms" data-type="tilCustomLink" target="_blank">Read more</a> <h2>Top Web stories </h2> <a href="https://www.businessinsider.in/science/health/food/webstories/saffron-to-caviar-9-of-the-worlds-most-expensive-food-items/slidelist/113671583.cms" data-type="tilCustomLink" target="_blank">Saffron to Caviar: 9 of the world's most expensive food items</a> <a href="https://www.businessinsider.in/thelife/webstories/work-smart-stay-sane-9-tips-to-combat-stress-and-burnout/slidelist/113671839.cms" data-type="tilCustomLink" target="_blank">Work smart, stay sane: 9 tips to combat stress and burnout</a> <a href="https://www.businessinsider.in/travel/india/webstories/10-serene-coastal-villages-in-india-to-visit-this-october/slidelist/113687424.cms" data-type="tilCustomLink" target="_blank">10 serene coastal villages in India to visit this October</a>

Weekend wrap: Amazon employee reveals tricks to avoid working from office, markets hit all-time highs

<keyword id="19902762" type="General" weightage="100" keywordseo="Google" source="keywords" meta.keywordsubtype="org" meta.entityname="Google" meta.hostid="261" meta.entityid="Google">Google</keyword> laid off thousands of employees in 2023 and many found their lives turned upside down with just an email notification. After all, when you have given your heart and soul to an organisation, it is never easy accepting the fact that you are being asked to leave at a moment’s notice. The situation becomes even more complicated when you have been with the company for more than a decade. Something similar happened with <keyword id="23300967" type="General" weightage="20" keywordseo="Nicholas-Whitaker" source="keywords">Nicholas Whitaker</keyword>, who had been working with the company since 2010 and found out about his <keyword id="20118388" type="General" weightage="20" keywordseo="layoff" source="keywords">layoff</keyword> abruptly. <h2>The 3 am email bringing bad news</h2>“My layoff experience was traumatic. I got an email at 3 am to my personal email, that I only found because a colleague pinged me on Linkedin in the DMs to ask if I was ‘Ok’ and if I was ‘safe’,” Whitaker told <keyword id="21390875" type="General" weightage="20" keywordseo="Business-Insider-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Business Insider India" meta.hostid="261" meta.entityid="Business Insider India">Business Insider India</keyword> in a conversation. He added that when his colleague enquired about his safety, he thought it was a “shooting or some natural disaster.” In other words, he didn’t even imagine that he was being laid off from Google. He then revealed that when he checked his work email, he discovered that he was locked out of his laptop and phone. He then checked his personal email and there it was, the “short and impersonal email” that told him that his role at Google was being eliminated. <h2>The layoff process was uncomfortable</h2>When Google announced large-scale layoffs last year, the company made a lot of headlines for handling them in an unprofessional manner. In March 2023, several Google employees had even written an open letter to Google CEO Sundar Pichai, asking him to deal with layoffs in a better manner. Whitaker, narrating his own experience, shared with Business Insider India that after receiving the dreadful layoff email at 3 am, he spent the next few months completing formalities to get his payments that were due. He said, “It took all of the next several months for me to mail back my laptop, badge and any gear that I had that was Google property. (I also had to) navigate unemployment, health insurance and get all of the documentation I had to submit to "self Offboard" and to receive payments that I was supposed to get.” “Along the way there were multiple errors and miscommunications from the team that made it all even more uncomfortable,” he said. Whitaker also noted a complete lack of communication and empathy from his old team at Google. “I got a single text message from my prior manager asking how I was doing a few days after I was laid off, but otherwise no one reached out to check on me or offer assistance from my old team. Overall I found the process to be brutally impersonal and inhumane,” he said. <h2>Experience at Google</h2>But was Google always “inhumane” in his experience? Not really. There were some amazing days too and Google, according to Whitaker, was a different company when he had joined. “My initial experience working at Google was like it was a completely different company. I started as a temp, contractor and then a vendor for Google back in 2010, and at the time I think it was something like 40,000 employees. It had a real startup feel to it. Teams were agile and collaborative, and there was a lot of room for growth. It may have been specific to my team and org, but it felt like you had a lot more room for experimentation and autonomy to make decisions, and failure wasn't seen as a bad thing, but a necessary part of innovation,” he said. Whitaker also said that a “class system” was there at Google, especially since he was a TVC (Temporary, Vendor and Contractor). “As a TVC you wouldn't be included in many of the activities and learning opportunities that full time employees had, and didn't get invited to extracurricular activities. There was a real bias towards culture at the time, and words like Don't be Evil, and be Googly were often used.” However, in general, he added that the atmosphere was positive and full of possibilities. “Colleagues generally were very supportive, collaborative and encouraging to work with. I was excited as this was my first time working in big tech, or Corporate America and I saw that period of time as a real coming of age for me. I learned how to be a professional at Google and appreciated all of the early guidance and support that I got from colleagues and leaders.” <h2>Helping others</h2>It has now been over a year since Whitaker was laid off. He now has his own venture and helps other people navigate their careers. Talking about what motivated him to kick-start his own venture, he said, “After 13 years in big tech, the last few years in particular being particularly difficult due to toxic teams and leaders, I didn't want to jump right back into that kind of experience again. A year before getting laid off, I had experienced a bad <keyword id="19956983" type="General" weightage="20" keywordseo="mental-health" source="keywords">mental health</keyword> crisis that was the result of workplace bullying, gaslighting and toxic leadership. "I wanted to help others avoid and recover from similar situations and create a community where people can find mutual support and coaching on how to best navigate their careers in a conscious way. My severance after working so long at Google allowed me to fund the launch of my coaching business, and eventually ‘changingwork.org’." <keyword id="23300968" type="General" weightage="20" keywordseo="Changing-Work" source="keywords">Changing Work</keyword>, Whitaker explained, is his way of addressing a deep need in corporate life — helping people rediscover their sense of purpose and alignment in their careers and finding ways to build more conscious leaders and businesses. He added, “What makes this so transformative for me personally is that it allowed me to step into a role where I could integrate all the lessons from my own career—especially the parts that were hardest for me. During my time at Google, I saw firsthand how high-pressure environments can lead to burnout, anxiety, and a disconnect from our true selves.” The recent tragic death of a young CA at Ernst &amp; Young (EY) employee in India has turned the spotlight on toxic work cultures prevalent in many high-pressure industries. Broader debates on burnout, mental health struggles, and unrealistic expectations in corporate environments in the workplace have occupied social media platforms. This incident serves as a painful reminder that companies must prioritize <keyword id="21050364" type="General" weightage="20" keywordseo="employee-well-being" source="keywords">employee well-being</keyword> and mental health to foster sustainable, humane workplaces. And makes the work that people like Whitaker are doing all the more important. “I’ve spoken publicly about how mindfulness practice, coaching and therapy literally saved my life during some of my darkest times at Google. Changing Work is the culmination of that journey. It’s not just about helping others find balance and fulfillment—it’s about creating a space where I can live those values every day,” he concludes.

Fired from Google after 13 years of service, he used his severance to build a business around helping others with their careers

<keyword id="19955368" type="General" weightage="100" keywordseo="budget-2024" source="keywords">Budget 2024</keyword>, which is set to be presented on July 22nd, is set to accelerate the growth of <keyword id="20459350" type="General" weightage="20" keywordseo="Indian-stock-markets" source="keywords">Indian stock markets</keyword> by as much as 20%, a recent survey by <keyword id="19897999" type="General" weightage="20" keywordseo="Bloomberg" source="keywords" meta.keywordsubtype="org" meta.entityname="Bloomberg" meta.hostid="261" meta.entityid="Bloomberg">Bloomberg</keyword> noted. While some respondents hope that the <keyword id="20983733" type="General" weightage="20" keywordseo="NSE-Nifty50" source="keywords">NSE Nifty50</keyword>, which is currently trading at 24,273.35 points, might reach 26,000 points by the end of this year, others estimate the index to inch up even higher. The budget is likely to boost consumer spending, accelerate consumption, and support infrastructure development, noted half of the 24 experts Bloomberg surveyed. Data by Bloomberg Intelligence predicted that the estimated earnings per share (EPS) of companies on the MSCI India Index is set to rise by 15.6% on year basis, for the calendar year 2024. In contrast, Chinese firms are expected to grow at about 10%. One-fourth of surveyed analysts noted that pushing capital expenditure would be the government's top priority, while the other half thought the focus would be on boosting consumer demand. Naturally, analysts see potential growth in consumer discretionary stocks in the months to come, followed by financial services. <h2>Focus on Women, Capex</h2>Many are expecting the government to raise the standard deduction threshold from the current Rs 50,000 to Rs 1,00,000. The government is also thinking of raising the limits of the <keyword id="19930663" type="General" weightage="20" keywordseo="Public-Provident-Fund" source="keywords">Public Provident Fund</keyword> (PPF) from Rs 15,000 to Rs 25,000. As per Ashwajit Singh, Founder and Managing Director of IPE Global, "the budget is expected to be tilted towards adopting a strategy for the underprivileged, youth, farmers, and women. The budget is expected to reflect the government’s tried and tested formula of ‘guarantees’ by opting for income transfer policies and spending more on welfare schemes in government campaigns in India. Allocations for existing schemes such as 'Housing for All’, MGNREGA, and health insurance for these sections of society are likely to increase while new schemes may be introduced". According to Badal Yagnik, CEO of Colliers India, the real estate segment is optimistic regarding this budget: "Housing, infrastructure development, sustainability, and digitization will remain at the core of the budget, which will go a long way in supporting real estate growth across segments in the long term. EV infrastructure, renewable energy, and green financing will continue to remain in focus, creating a strong base for a sustainable future. Incentivization of green buildings through minimum alternate tax or tax breaks similar to the infrastructure sector will be particularly beneficial. Meanwhile, retail investors are calling for additional rationalizing of the capital gains tax structure. The Union Budget 2024–25 should explore initiatives to boost greater retail engagement in REITs and InvITs". Anooshka Soham Bathwal, founder of Dhanvesttor, a financial management platform, expects that the government's focus is likely to keep driving the increased participation of women in the workforce in the upcoming full budget, where it can attain the same by incentivising higher education for women. "To promote entrepreneurship, the government can introduce special benefits for the businesses started by women. Further steps towards a stable policy environment and ease of doing business are also desirable. Incentives on tax, funding, and growth for women-centric organizations can help to further attain the inclusive growth objective of government". Bathwal also emphasized that the budget should promote entrepreneurs and the country's startup system. "Entrepreneurs are advocating for additional tax breaks for investors and promoters to attract more domestic capital. As India progresses towards becoming a global hub for entrepreneurship and innovation, fostering both technological and process innovations is crucial. Significant improvements in ongoing training and skill upgrades are vital, particularly given the rapid growth in Tier 2 and Tier 3 markets. Additionally, the government needs to address the credit challenges faced by SMEs", she continued Also read <a href="https://www.businessinsider.in/budget/budget-2024-heres-what-indias-elderlies-want/articleshow/111486023.cms" data-type="tilCustomLink">Budget 2024: FM might delight India's senior citizens this time around</a> <a href="https://www.businessinsider.in/finance/union-budget-2024-25-when-will-it-be-presented-what-to-expect-and-more/articleshow/111014203.cms" data-type="tilCustomLink">Union budget 2024-25 : When will it be presented, what to expect and more</a>

Budget 2024 to fuel stock markets: Bloomberg Survey

<keyword id="22894038" type="General" weightage="20" keywordseo="Chauffeur-driven-mobility-provider" source="keywords">Chauffeur-driven mobility provider</keyword> Ecos (India) Mobility &amp; Hospitality Ltd on Friday said it has fixed a <keyword id="19911460" type="General" weightage="20" keywordseo="price-band" source="keywords">price band</keyword> of Rs 318-334 per share for its Rs 601 crore <keyword id="19913114" type="General" weightage="20" keywordseo="initial-public-offering" source="keywords">initial public offering</keyword>. The initial share sale opens for public subscription on August 28 and concludes on August 30 and bidding for anchor investors will open for a day on August 27, the company said in a statement. The company's maiden public issue is entirely an offer for sale (OFS) of 1.8 crore equity shares worth Rs 601 crore, at the upper end of the price band, by promoters -- Rajesh Loomba and Aditya Loomba -- with no fresh issue component. Since it is an OFS, the Delhi-based firm will not receive any proceeds from the <keyword id="19898327" type="General" weightage="20" keywordseo="IPO" source="keywords">IPO</keyword> and the money will go to promoters selling shares. Half of the issue size has been reserved for qualified institutional investors, 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors. Investors can bid for a minimum of 44 equity shares and in multiples of 44 equity shares thereafter. The company has been providing chauffeured car rentals (CCR) and employee transportation services (ETS) to corporate customers for more than 25 years. It operates a fleet of more than 9,000 vehicles from economy to luxury cars. It also provides speciality vehicles such as luggage vans, limousines, vintage cars and vehicles for accessible transportation for people with disabilities. The global corporate mobility market (including ETS and CCR) is poised for steady growth at a projected CAGR (compound annual growth rate) of 9.6 per cent from 2023 to 2030. Besides, India is set to lead the global corporate mobility market in terms of growth with a projected CAGR of 10.7 per cent from 2023 to 2030, the draft paper cited a F&amp;S Report. Equirus Capital and IIFL Securities are the book-running lead managers to the issue. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/webstories/2024-tvs-jupiter-vs-honda-activa-6g-which-110cc-scooter-should-you-buy/slidelist/112730069.cms">2024 TVS Jupiter vs Honda Activa 6G – which 110cc scooter should you buy?</a> <a href="https://www.businessinsider.in/tech/how-to/how-to-add-music-to-instagram-profile/articleshow/112732934.cms">You can now add music to your Instagram profile – here's how</a> <a href="https://www.businessinsider.in/business/auto/news/audi-q8-facelift-launched-in-india-with-a-1-17-crore-price-tag/slidelist/112707701.cms">Audi Q8 facelift launched in India with a ₹1.17 crore price tag</a>

Ecos (India) Mobility's IPO to open on Aug 28; sets price band at ₹318-334/share

<keyword id="20207838" type="General" weightage="20" keywordseo="dsp-mutual-fund" source="keywords">DSP Mutual Fund</keyword>'s September 2024 Netra report credits <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>'s strong economic recovery to increased fiscal expenditure. The report, which tracks current economic trends and market insights through various charts, emphasizes the need for the private corporate sector and households to play a larger role in sustaining the ongoing growth momentum. Netra also pointed out an unsettling calm in the markets, with the Nifty 50 TRI index maintaining an impressive 53-month streak without a 5% decline and 13 years without a drop greater than 10%. Sahil Kapoor, Head of Products and Market Strategist, DSP Mutual Fund, said, "The calm in the markets, marked by an unnerving lack of volatility, is a double-edged sword. While it provides a sense of stability, it also masks underlying risks that could surface unexpectedly, catching investors off guard. To ensure a sustainable recovery, there is a need for the private sector and households to take the lead, transforming fiscal stimulus into lasting economic growth." However, the report notes a shift in market dynamics, with the momentum factor, which has outperformed since the COVID-19 bottom, beginning to lose its dominance. At the same time, the quality factor, which had underperformed over the last four years, is now seeing a resurgence, potentially indicating a change in market leadership that could favour quality-orientated funds, both active and passive. The report highlights the critical role government spending has played in the recovery, with a focus on capital investments crucial for future growth. However, contributions from the private corporate sector and households have lagged. It also draws attention to a slowdown in India's per capita consumption, approaching lows seen in previous cycles. Given that consumption accounts for around 60% of GDP, it is vital that this sector grows at a rate exceeding GDP growth to stimulate private capital expenditure. India's <keyword id="487578" type="General" weightage="20" keywordseo="tax-collections" source="Orion">tax collections</keyword> have demonstrated robust growth, with gross tax revenue showing a five-year compound annual growth rate (CAGR) of 14 %. This growth, largely driven by <keyword id="6354751" type="General" weightage="20" keywordseo="income-tax" source="Orion">income tax</keyword>, indicates a rising dependency on capital gains and stock market performance, introducing new vulnerabilities to the economy. The banking and financial services sector (<keyword id="19910880" type="General" weightage="20" keywordseo="bfsi" source="keywords">BFSI</keyword>) has emerged as a key driver of market earnings, recording a 12 % increase in profit after tax (PAT) growth, significantly outpacing the 4.6 % growth observed in non-BFSI Nifty 50 companies. This disparity underscores the sector's importance in India's economic story and highlights promising investment opportunities.

India's strong economic recovery is led by fiscal expenditure: DSP MF

Dear reader, This week’s news roundup captures a mix of finance, technology, and career insights, spotlighting trends and timely advice. The <keyword id="19895040" type="General" weightage="20" keywordseo="Real-Estate" source="keywords">real estate</keyword> sector in India continues to reign supreme in investment portfolios, even as new financial opportunities emerge. Meanwhile, <keyword id="20019820" type="General" weightage="20" keywordseo="Job-Seekers" source="keywords">job seekers</keyword> are dealing with “ghosting,” a new twist in recruitment echoing modern dating. In tech, a damaged satellite shows how fragile internet infrastructure can disrupt connectivity, while an <keyword id="23685266" type="General" weightage="20" keywordseo="Amazon-Engineer" source="keywords">Amazon engineer</keyword> offers a firsthand roadmap to nailing technical interviews. Read on to know about the top stories of the week gone by. <h2>Real Estate continues to dominate India’s investment portfolios, shows <keyword id="23616651" type="General" weightage="20" keywordseo="FICCI-Report" source="keywords">FICCI report</keyword></h2> According to a FICCI report, real estate remains a favourite in Indian investment portfolios. High returns, capital appreciation, and stability make it a popular choice, even amid increased diversification. <a href="https://www.businessinsider.in/finance/news/real-estate-continues-to-dominate-indias-investment-portfolios-shows-ficci-report/articleshow/114368582.cms" data-type="tilCustomLink" target="_blank">Read more</a> <h2>Did you experience wonky broadband service recently? A broken satellite in space might have something to do with it! </h2> Broadband disruptions across various areas may stem from a broken satellite, highlighting vulnerabilities in space-based infrastructure. This issue underscores how satellite failures impact daily internet access. <a href="https://www.businessinsider.in/science/space/article/did-you-experience-wonky-broadband-service-recently-a-broken-satellite-in-space-might-have-something-to-do-with-it/articleshow/114535180.cms" data-type="tilCustomLink" target="_blank">Read more</a> <h2>Bhavish Aggarwal's <keyword id="19897349" type="General" weightage="100" keywordseo="Ola-Electric" source="keywords" meta.keywordsubtype="org" meta.entityname="Ola Electric" meta.hostid="261" meta.entityid="Ola Electric">OLA Electric</keyword> says it has resolved 99% customer complaints after receiving CCPA show cause notice </h2> Two-wheeler manufacturer Ola Electric announced that it has successfully addressed 99.1% of the 10,644 complaints raised by the Central Consumer Protection Authority (CCPA). This update came on the heels of a recent notice from the CCPA, which had accused the company of misleading advertisements, unfair trade practices, and potential consumer rights violations. <a href="https://www.businessinsider.in/business/news/bhavish-aggarwals-ola-electric-says-it-has-resolved-99-customer-complaints-after-receiving-ccpa-show-cause-notice/articleshow/114489333.cms" data-type="tilCustomLink" target="_blank">Read more</a> <h2>Job Hunting in 2024 has a modern dating element: Ghosting </h2> Job seekers in 2024 face an unexpected trend — “ghosting,” a phenomenon borrowed from dating. Recruiters and candidates alike are leaving communication abruptly, signalling changing norms in the hiring process. <a href="https://www.businessinsider.in/careers/news/job-hunting-in-2024-has-a-modern-dating-element-ghosting/articleshow/114454697.cms" data-type="tilCustomLink" target="_blank">Read more</a> <h2>I'm a software engineer at Amazon. Here's my step-by-step guide to nailing the <keyword id="23685264" type="General" weightage="20" keywordseo="Technical-Interview" source="keywords">technical interview</keyword> and breaking into tech </h2>An Amazon software engineer has shared tips for acing technical interviews. The guide includes key interview stages and actionable strategies for breaking into tech, providing valuable insights for job seekers. <a href="https://www.businessinsider.in/tech/news/im-a-software-engineer-at-amazon-heres-my-step-by-step-guide-to-nailing-the-technical-interview-and-breaking-into-tech-/articleshow/114430281.cms" data-type="tilCustomLink" target="_blank">Read more</a> <h2>Web stories</h2> <h2><a href="https://www.businessinsider.in/travel/international/webstories/most-famous-tourist-spots-in-brics-nations/slidelist/114543399.cms" data-type="tilCustomLink" target="_blank"></a></h2><a href="https://www.businessinsider.in/travel/international/webstories/most-famous-tourist-spots-in-brics-nations/slidelist/114543399.cms" data-type="tilCustomLink" target="_blank">Most famous tourist spots in BRICS nations</a> <a href="https://www.businessinsider.in/india/webstories/cyclones-that-shook-india-a-history-of-devastation/slidelist/114514841.cms" data-type="tilCustomLink" target="_blank">Cyclones that shook India</a> <a href="https://www.businessinsider.in/science/health/food/webstories/9-refreshing-drinks-that-reduce-high-blood-pressure-levels/slidelist/114426482.cms" data-type="tilCustomLink">9 refreshing drinks that reduce high blood pressure</a>

Weekend wrap: Real estate dominates India's investment portfolios, interview tips from Amazon employee and more

The Ministry of Labour and Employment recently directed the Employees' Provident Fund Organization (<keyword id="19966712" type="General" weightage="100" keywordseo="EPFO" source="keywords">EPFO</keyword>) to ensure the activation of UAN (<keyword id="20789489" type="General" weightage="20" keywordseo="universal-account-number" source="keywords">Universal Account Number</keyword>) via Aadhar-based OTP. The outreach is part of announcements made during the Union Budget 2024-25, which aim to maximize the net of beneficiaries under the Employment Linked Incentive (ELI) Scheme. The central government has already directed concerned ministries and departments to ensure that payment of all subsidies and incentives under all welfare schemes occurs via the Aadhar Payment Bridge and that 100% biometric Aadhar authentication is achieved. Notably, Aadhaar-based verification eliminates the need for producing multiple documents to prove one's identity. In the first stage, all employers must complete <keyword id="24089674" type="General" weightage="20" keywordseo="UAN-activation" source="keywords">UAN activation</keyword> through Aadhar-based OTP for all employees who've joined the company in the current financial year by November 30, 2024. Starting with their latest recruits, employers will have to finish this process for all their employees. As per the budget announcements, the government will implement 3 schemes for 'Employment Linked Incentive' as part of the Prime Minister's package. These will be based on enrollment in the EPFO and focus on recognition of first-time employees and support to employees and employers. The ELI Scheme aims to create over 2 crore jobs in the country in 2 years. This will significantly contribute to increasing employment opportunities and enhancing livelihoods. UAN activation provides employees with seamless access to EPFO's comprehensive online services, enabling them to efficiently manage their Provident Fund (PF) accounts, view and download PF passbooks, submit online claims for withdrawals, advances, or transfers, update personal details, and track claims in real-time. This allows employees 24/7 access to EPFO services from the comfort of their homes, eliminating the need for physical visits to EPFO offices. For the uninitiated, UAN is a 12-digit number allotted to each member of EPFO (Employee Provident Fund Organization). Think of UAN as a single-point number that brings together multiple member IDs that have been allocated to a particular employee. In September this year, EPFO added 18.81 lakh members, registering a 9.33% YoY growth.

EPFO to ensure UAN activation for employees through Aadhaar-based OTP

Focused <keyword id="19929240" type="General" weightage="20" keywordseo="mutual-funds" source="keywords">mutual funds</keyword>, which invest in a concentrated portfolio of <keyword id="19905382" type="General" weightage="20" keywordseo="stocks" source="keywords">stocks</keyword>, are gaining traction among investors with the <keyword id="22748135" type="General" weightage="20" keywordseo="asset-base" source="keywords">asset base</keyword> of the category growing to Rs 1.43 lakh crore in three months ended June 2024, marking an increase of 31% from a year ago. Interestingly, some of the focused funds offered by the mutual fund houses such as <keyword id="22748136" type="General" weightage="20" keywordseo="Invesco-India-Focused-Fund" source="keywords" meta.keywordsubtype="org" meta.entityname="Invesco India Focused Fund" meta.hostid="261" meta.entityid="Invesco India Focused Fund">Invesco India Focused Fund</keyword>, Mahindra Manulife Focused Fund, JM Focused Fund, and <keyword id="19896378" type="General" weightage="20" keywordseo="hdfc" source="keywords">HDFC</keyword> Focused 30 Fund delivered a remarkable return of 40-60% in the past year, industry data showed. Focused funds are a type of mutual fund where the fund manager selects a concentrated portfolio of stocks, typically limited to a maximum of 30 due to regulatory constraints. This requires the fund manager to be highly skilled in stock selection, as they need to identify the best investment opportunities across the market without bias toward any specific market cap or sector. According to data from the <keyword id="20090034" type="General" weightage="20" keywordseo="association-of-mutual-funds" source="keywords">Association of Mutual Funds</keyword> in India (Amfi), the assets under management (AUM) of the focused funds were at Rs 1.43 lakh crore in the June quarter 2024-25 as compared to Rs 1.09 lakh crore in April-June FY24. This growth highlights the appeal of focused funds as an alternative to portfolio management services (<keyword id="19950020" type="General" weightage="20" keywordseo="pms" source="keywords">PMS</keyword>), especially with recent tax changes that make PMS less attractive due to higher costs and tax implications, Feroze Azeez, Deputy CEO, of Anand Rathi Wealth Ltd, said. "With the increase in taxation on both small-term capital gain tax and long-term capital gain tax, PMS portfolios are expected to see a drop in post-tax returns. For example, a PMS portfolio generating a pre-tax return of 14 % could see post-tax returns drop from 11.73 % to 11.29 %. This shift could lead to fund managers churning portfolios less frequently, which in turn will be affecting returns for investors," he added. Focused funds follow a similar concentrated portfolio strategy where the fund manager picks the top stocks and offers flexibility across market caps. Thus, becoming a more attractive option for investors looking to optimize their returns. Industry experts recommend investing in focused funds through systematic investment plans (SIPs) as a smart strategy in the current market environment of sector rotation and high valuations. Since these funds invest in a small number of stocks, SIPs can help reduce risk by spreading out investments over time. Overall, there are 31 focused schemes offered by different mutual fund houses in the category. These schemes have given returns of 19-60% in the last one year. In terms of returns, smaller funds have performed exceptionally well. The Invesco India Focused Fund delivered a remarkable return of over 60% in the past year, while Mahindra Manulife Focused Fund provided around 50% returns and JM Focused Fund offered a return of 45% during the period. With a corpus of Rs 1,552 crore as of June 2024, Mahindra Manulife Focused Fund has consistently performed well, securing the second rank for 1, 2, and 3-year periods. The fund delivered returns of 50%, 32%, and 26% over these periods, respectively. HDFC Focused 30 Fund achieved the top rank over the 3 years with a return of 28.63 %, while JM Focused Fund secured the third rank with a 25 % return during the same period. "The success of focused funds underscores the importance of skilled fund management and strategic stock selection," an industry expert said. Focused funds opt for a more targeted strategy rather than the broad diversification typical of traditional mutual funds. This approach helps fund managers make investments in a carefully selected group of stocks, reflecting their strongest investment beliefs. The concentrated nature of these portfolios requires careful selection of each stock, as the fund's performance heavily depends on these choices. Although these funds hold a limited number of stocks, they are structured to be sufficiently diversified to effectively manage risk. Overall, the assets of the equity mutual funds rose to Rs 27.6 lakh crore in June 2024 from Rs 17.43 lakh crore in June 2023.

Focused MFs' asset base rises 31% to Rs 1.43 lakh cr in June qtr; up to 60% returns last year

In a bid to support meritorious and deserving Indian students to pursue their higher education without having to worry about funds, the government today announced the <keyword id="23831216" type="General" weightage="100" keywordseo="PM-Vidyalaxmi-scheme" source="keywords">PM-Vidyalaxmi scheme</keyword>. Here's all you need to know about it: The scheme will cover students who secure admission to one of the top 860 higher educational institutions in the country. In effect, this is set to benefit over 22 lakh students annually. You can apply for this loan via a soon-to-be launched consolidated PM-Vidyalaxmi portal. The loan application will be entirely digital and will not require collateral or assets to be pledged in place of a loan or even a guarantor. For loans up to Rs 7.5 lakh, the government will provide a 75% credit guarantee. If your family's annual income is up to Rs 8 lakh, you are eligible for receiving loans up to Rs 10 lakh at an interest rate of up to 3% lower rates. This support will be offered to around 1 lakh students every year, and those who opt for technical or professional courses from government-run institutions will be given preference for the same. The government has already set aside Rs 3,600 crore for the same, to be utilized between 2024 and 2031, benefiting 7 lakh students in this period. All eligible students whose family's annual income falls below the Rs 4.5 lakh threshold will receive a full subsidy on interest payable. As for which higher education institutions (HEIs) will qualify, it will depend on recent NIRF (National Institutional Ranking Framework) rankings. This will include: <ul><li>All centrally governed institutions</li><li>Public and private institutions that have made it to NIRF's top 100 rankings in the overall, category, and domain-specific categories</li><li>All state government HEIs that are ranked between 101 and 200 in <keyword id="22759868" type="General" weightage="20" keywordseo="NIRF-rankings" source="keywords">NIRF rankings</keyword> will also be eligible.</li></ul> <h2>Rising cost of education</h2> Data from NSSO (National Sample Survey Office) highlights that the average expenditure on education in India has doubled in the last decade. Per the All India Survey on Higher Education 2020-21, the tuition fees for engineering courses in most private institutions have already risen by 50% over the past 10 years. Education inflation currently stands high, at about 11–12%. The demand for educational loans is also inching up steadily. Per RBI data, as of September 20, 2024, the total quantum of outstanding education loans stood at Rs 62,389 crore, up 2.8% from Rs 60,715 crore in September 2023. India's largest lender, the State Bank of India, leads the education loan bandwagon, with disbursals worth Rs 10,860 crore in FY24.

Lack of funds stopping you from pursuing higher education? The government can come to rescue

<ul class="summary-list"><li>This post originally appeared in the Insider Today newsletter.</li></ul>Good morning! CEOs love talking about their wins, but what about their losses? The head of a failed supersonic plane startup detailed what went wrong, <a target="_blank" href="https://www.businessinsider.com/exosonic-ceo-explains-why-his-strategy-supersonic-airliner-failed-2024-11">and how other companies might find success</a>.In today's big story, President-elect Donald Trump is nominating the people <a target="_blank" href="https://www.businessinsider.com/donald-trump-white-house-staff-cabinet-picks-list-2024-11">who will play a key role in his administration</a> and impact the business world.What's on deck:<ul><li>Markets: Elon Musk wants to gamify "dumb" government spending, and <a target="_blank" rel="noopener" href="https://www.businessinsider.com/elon-musk-leaderboard-government-spending-marketing-genius-doge-donald-trump-2024-11">experts say it's a savvy marketing strategy</a>.</li><li>Tech: A healthcare startup raised $100 million on a bet it could build an AI doc-in-a-box. <a target="_blank" href="https://www.businessinsider.com/healthcare-startup-forward-shutdown-carepod-adrian-aoun-2024-11">Now it's shutting down</a>.</li><li>Business: Internal documents viewed by BI show plans for Amazon's AI chatbot <a target="_blank" rel="noopener" href="https://www.businessinsider.com/amazon-ai-chatbot-q-coming-to-microsoft-office-365-2024-11">launching in an unlikely spot</a>.</li></ul>But first, the nominations are rolling in.If this was forwarded to you, <a target="_blank" href="https://www.businessinsider.com/subscription/newsletter/insider-today">sign up here.</a><h3 id="7fa5f018-5b05-4a37-a8dc-d3f89138bcb3">The big story</h3><h2 id="5fd547b9-ec52-41fc-8e08-4f4b27dd8097">Trump's new team</h2><div type="image" title="Trump pointing" height="667" width="1000" msid="115302524" hostid="261" sizebytes="47760"></div>President-elect Donald Trump is quickly fleshing out his cabinet, giving a sense of what his second administration will look like.Trump's slew of picks announced in recent days share a common theme: <a target="_blank" href="https://www.businessinsider.com/trump-cabinet-picks-so-far-loyalty-resumes-11">loyalty</a>. (You can find the running list of Trump administration staffers <a target="_blank" href="https://www.businessinsider.com/donald-trump-white-house-staff-cabinet-picks-list-2024-11">here</a>)With <a target="_blank" href="https://www.businessinsider.com/republicans-house-representatives-election-win-majority-2024-11">Republicans maintaining control of the House</a> and winning the Senate, the president-elect will enter the White House this January with incredible power to shape the country to his vision.Let's break down some of Trump's recent appointments and the impact they could have on the business world:<a target="_blank" href="https://www.businessinsider.com/trump-nominates-matt-gaetz-attorney-general-2024-11">US Attorney General — Matt Gaetz</a>: A surprising pick, to say the least, the representative from Florida caused havoc within his own party when he led the push to oust Kevin McCarthy from the speakership last year.Gaetz was also the subject of sex-trafficking allegations that led to an investigation by the very agency he's being nominated to lead. (The Department of Justice declined to pursue charges, but he'd been facing a probe from the House Ethics Committee.) House Speaker Mike Johnson told reporters on Wednesday that Gaetz had resigned from Congress.He's also <a target="_blank" rel="noopener" href="https://www.businessinsider.com/matt-gaetz-criticism-big-tech-trump-attorney-general-antitrust-2024-11">clashed with the tech industry</a>, suggesting Americans have an "obligation to use" their Second Amendment right when it comes to <a target="_blank" href="https://www.businessinsider.com/matt-gaetz-says-american-obligation-take-up-arms-big-tech-2021-5">Silicon Valley companies censoring conservatives</a>. Gaetz's appointment requires confirmation from the Senate, which is far from a shoo-in.<a target="_blank" href="https://www.businessinsider.com/what-trumps-secretary-state-pick-marco-rubio-means-for-china-2024-11">Secretary of State — Marco Rubio:</a> The Florida senator is an outspoken critic of China and a supporter of Taiwan. In fact, China sanctioned him twice, and his ability to travel to the country is somewhat in question.The appointment adds another wrinkle to the heightening tension between the US and China. Trump has said he wants aggressive tariffs against Chinese imports, and Rubio has raised the alarm on what he views as China's plan to harm the US economy.<div type="image" title="Fox News host Pete Hegseth at a network event in 2019" height="2555" width="3600" msid="115302517" hostid="261" sizebytes="483180"></div><a target="_blank" href="https://www.businessinsider.com/trump-pentagon-chief-pete-hegseth-world-views-ukraine-china-2024-11">Secretary of Defense — Pete Hegseth:</a> The Army veteran and Fox News host has been outspoken about the US involvement in geopolitical conflicts. Hegseth is among the growing number of Republicans questioning the US support of Ukraine. He also said he <a target="_blank" href="https://www.businessinsider.com/trump-pentagon-pick-pete-hegseth-criticized-us-involvement-ukraine-aid-2024-11">doubted Russia would invade Poland</a> if it successfully took over Ukraine.When it comes to Israel, Hegseth has been a staunch supporter. He's also pushed back against calls for a cease-fire and criticized pro-Palestinian protesters.Hegseth's takes aren't limited to international affairs. He's been critical of women serving in combat roles and diversity and equity policies in the US military.Treasury secretary — TBD: Trump's pick for his top economic advisor is being closely watched considering the key role the economy played in the election. The two front runners appear to be Scott Bessent, a hedge fund executive, and Howard Lutnick, <a target="_blank" href="https://www.businessinsider.com/wall-street-advisor-trump-lutnick-schwarzman-warsh-federal-reserve-2024-11">the co-chair of Trump's transition</a> team and the CEO of Cantor Fitzgerald.Bessent was initially viewed as the favorite, but Lutnick is <a target="_blank" href="https://www.wsj.com/politics/policy/trump-transition-co-chair-makes-late-play-for-treasury-secretary-f1b50c60">reportedly making a last-ditch effort</a> to be considered for the job.<h3 id="77f31a4c-8462-4e3d-a71f-838cb79493fb">News brief</h3><h2 id="1fcd294b-3f53-425f-9f20-4093e8623b59">Top headlines</h2><ul><li>Silicon Valley investors Marc Andreessen and Ben Horowitz <a target="_blank" rel="noopener" href="https://www.businessinsider.com/marc-andreessen-ben-horowitz-react-trump-win-crypto-founders-2024-11">celebrate Trump's win as 'a boot off the throat</a>.'</li><li>Why SoftBank bet $500 million on OpenAI. SoftBank's Vision Funds CFO <a target="_blank" href="https://www.businessinsider.com/softbank-openai-investment-explained-vision-fund-cfo-2024-11">told BI why it went all-in on the startup</a>.</li><li>Amazon is shuttering Freevee and some insiders fear <a target="_blank" href="https://www.businessinsider.com/amazon-shuttering-freevee-some-insiders-speculate-potential-entertainment-layoffs-2024-11">layoffs could be coming in the tech giant's entertainment arm</a>.</li><li>Mark Zuckerberg just released his own NSFW version of <a target="_blank" href="https://www.businessinsider.com/mark-zuckerberg-t-pain-get-low-rap-song-2024-11">'Get Low' in a tribute to his wife</a>.</li></ul><h2 id="8120060b-ae66-48dc-b149-f0489a30ffa2">3 things in markets</h2><div type="image" title="A photo illustration comprising a black-and-white photo of Elon Musk's profile over a leaderboard with dollar signs that decrease down the board." height="1500" width="2000" msid="115302527" hostid="261" sizebytes="121084"></div><ol><li>Loving the leaderboard: Elon Musk wants to gamify "dumb" government spending. Donald Trump tapped Musk and Vivek Ramaswamy to co-lead the Department of Government Efficiency, a commission aimed at slimming government waste. Musk has <a target="_blank" rel="noopener" href="https://www.businessinsider.com/elon-musk-leaderboard-government-spending-marketing-genius-doge-donald-trump-2024-11">teased a public leaderboard to track government spending</a>, which, if implemented, could keep the public engaged. <a target="_blank" href="https://www.businessinsider.com/elon-musk-vivek-ramaswamy-doge-government-efficiency-what-us-spends-2024-11">BI took a look at what the US actually spends money on</a>.</li><li>Inflation stays in line with expectations. October's consumer price index <a target="_blank" href="https://www.businessinsider.com/inflation-october-cpi-consumer-price-index-federal-reserve-interest-rates-2024-11">rose 2.6% compared to the same time last year</a>, representing a slight uptick from September's 2.4% report. Despite inflation heating up, the probability of the Fed making a 25-basis-point cut next month increased to about 80% after the report's release.</li><li>Polymarket's CEO was the subject of an FBI raid. Shayne Coplan, the 26-year-old boss of the betting market platform that successfully predicted Trump's win, reportedly had his phone and electronic devices <a target="_blank" href="https://www.businessinsider.com/fbi-raid-polymarket-ceo-shayne-coplan-nyc-2024-election-2024-11">confiscated by federal agents Wednesday morning</a>. Bloomberg reported the raid was tied to an investigation into the company accepting trades from users in the US, which is not permitted. A Polymarket spokesperson said it was an act of "political retribution" by the Biden administration.</li></ol><h2 id="f4b54806-7f81-450c-ba32-92560d4fae9b">3 things in tech</h2><div type="image" title="Forwards CEO Adrian Aoun with the Carepod" height="1500" width="2000" msid="115302521" hostid="261" sizebytes="394842"></div><ol><li>Inside Forward's failed attempt to revolutionize the doctor's office. The healthcare startup Forward went all-in on its AI doc-in-a-box: "If Elon has the self-driving car, well, this is the autonomous doctor's office," its CEO said in 2023. <a target="_blank" href="https://www.businessinsider.com/healthcare-startup-forward-shutdown-carepod-adrian-aoun-2024-11">But after raising $650 million in funding, it's going dark</a>.</li><li>What some Tesla employees think about Musk's new government job. Some are celebrating stock gains, with the company's share price soaring nearly 33% year to date, <a target="_blank" rel="noopener" href="https://www.businessinsider.com/tesla-trump-stock-gains-internal-reaction-2024-11">while others worry Musk will lose focus</a>. "There's this feeling that no one fully knows where anyone else stands," one manager told BI.</li><li>A new stage in the US-China tech cold war. The focus of the AI race is moving from chip dominance to rare earths, the raw materials they're made of. Right now, China has the upper hand; <a target="_blank" href="https://www.businessinsider.com/rare-earths-tech-war-explainer-chips-ai-china-us-2024-11">here's how it's tried to outmaneuver the US</a>.</li></ol><h2 id="9260fa45-d397-4b3c-b4f8-4bb193976216">3 things in business</h2><div type="image" title="The O's of the Hollywood sign walking away with film equipment" height="1457" width="1943" msid="115302520" hostid="261" sizebytes="350770"></div><ol><li>Hollywood's leaving. The film industry is ditching Los Angeles for up-and-coming entertainment hubs like Atlanta and smaller cities alike. Some have been preparing for an LA exodus for years, but the pandemic ushering in remote work <a target="_blank" href="https://www.businessinsider.com/hollywood-leaving-los-angeles-remote-work-tv-movies-money-streaming-2024-11">helped provide the final push</a>.</li><li>Too many videos, not enough mentors. Nobody knows how to do their jobs anymore because their companies aren't teaching them. Training is an easy place for companies to cut costs, but it comes back to hurt them in the long run. <a target="_blank" href="https://www.businessinsider.com/job-training-broken-gen-z-mentorship-companies-employees-managers-2024-11">Those who do invest often put their money toward the wrong fixes</a>.</li><li>Exclusive: Amazon's chatbot Q enters enemy territory. Internal documents obtained by BI show the cloud giant is looking to launch a Q add-in for a rival suite: Microsoft Office 365. Amazon hopes the integration could expand Q's user base by <a target="_blank" href="https://www.businessinsider.com/amazon-ai-chatbot-q-coming-to-microsoft-office-365-2024-11">piggybacking on Office's popularity</a>.</li></ol><h2 id="9f5d80ac-3466-429f-a50a-2ffbb70c65ff">What's happening today</h2><ul><li>Disney, Brookfield and other companies report earnings.</li><li>EU reveals Q3 GDP growth figures.</li></ul>The Insider Today team: Dan DeFrancesco, deputy editor and anchor, in New York. Grace Lett, editor, in Chicago. Ella Hopkins, associate editor, in London. Hallam Bullock, senior editor, in London. Amanda Yen, fellow, in New York. Milan Sehmbi, fellow, in London.

Some of Trump's key cabinet picks provide clues to how his administration will approach the business world

In Greek mythology, Prometheus, a wise Titan whose name means "foresight," defied Zeus by gifting fire to humans, an act that revolutionised our civilization. Fire became a symbol of progress, providing the tools for growth and the spark for <keyword id="94495" type="General" weightage="20" keywordseo="innovation" source="Orion">innovation</keyword>. This ancient tale mirrors the modern concept of <keyword id="3946833" type="General" weightage="100" keywordseo="intrapreneurship" source="Orion">intrapreneurship</keyword>—the process of fostering innovation within established companies. Intrapreneurship encourages an entrepreneurial mindset by providing staff with resources, mentorship, and collaboration opportunities, enhancing innovation in ideas, products, and processes. While startups are often seen as the hub of groundbreaking ideas, some of the most transformative innovations come from within the walls of larger organisations. These corporations, however, often face bureaucratic hurdles that slow progress. Intrapreneurship breaks down these barriers by giving employees the freedom and resources to experiment. Under strong leadership, companies can foster a culture of trust, empowering teams to solve problems creatively and drive growth. <h2>Nurturing the intrapreneurial spirit</h2>One of the key components of successful intrapreneurship is providing employees with a sense of ownership and autonomy. This approach taps into the vast potential within the workforce, unlocking creativity that might otherwise remain dormant in a traditional corporate structure. It encourages risk-taking and creative problem-solving, boosting innovation and enhancing employee engagement and satisfaction. Take 3M for example, Spencer Silver’s discovery of a unique adhesive led to the creation of the iconic Post-it note, despite initial skepticism.Yet, the company’s intrapreneurial environment allowed for exploration, leading to the development of a product that revolutionised communication. Similarly, Lockheed Martin’s ‘Skunk Works’ is a division that operates with the agility of a startup within the larger organisation. Skunk Works’ autonomy has resulted in numerous aerospace innovations, including stealth technology and fighter jets. These examples underscore the transformative potential of intrapreneurial freedom, where exploration leads to groundbreaking products and industry-shifting advancements. By giving employees space to explore ideas beyond their day-to-day tasks, organisations tap into a wealth of innovation, allowing intrapreneurs to flourish. <h2>The essence of intrapreneurship</h2>Innovation requires trial and error, and not every idea will succeed. The best environments for intrapreneurship are those that embrace failure as part of the learning process. Companies like Intel and Tesla have thrived by viewing setbacks as growth opportunities. In the 1980s, Intel faced a major crossroads when internal innovators identified a larger market opportunity and advocated for a shift from memory chips to microprocessors. They embraced potential failure with this pivot, which though risky, propelled Intel to become a leader in the tech industry. Tesla, known for its continuous drive for innovation, encourages its teams to experiment and push boundaries. Elon Musk’s willingness to accept failures along the path to innovation has led to significant breakthroughs, like the development of electric vehicles and space exploration technology. <h2>Collaboration: The key to creative synergy</h2>Intrapreneurs don’t work in isolation. True innovation happens when employees collaborate across departments, combining different skills and perspectives to tackle complex challenges IBM’s Watson, a cognitive computing system, is a prime example of what can happen when cross-functional teams come together. Engineers, data scientists, and non-technical staff worked collaboratively to create a groundbreaking technology that has since been used in fields ranging from healthcare to finance. Facebook’s famous "hackathons" foster cross-departmental innovation. These 24-hour events allow employees to work on passion projects outside of their usual responsibilities, resulting in successful product features like the "Like" button. The melding of expertise has led to breakthroughs that might not have been possible within traditional silos. <h2>Intrapreneurship: Driving growth from within</h2>Innovation is more than generating ideas—it’s about bringing those ideas to life. Intrapreneurship provides a framework for turning creative concepts into reality. Just as Prometheus defied convention to give humanity the gift of fire, intrapreneurs challenge the status quo to drive progress within their organisations. By fostering a culture of risk-taking, collaboration, and continuous learning, companies can ignite the innovation that fuels long-term growth. Continuous support in the form of funding, mentorship, and resources is crucial for intrapreneurship to thrive. In today's <keyword id="6355515" type="General" weightage="20" keywordseo="business" source="Orion">business</keyword> landscape, nurturing the intrapreneurial spirit is essential for companies striving to remain competitive and relevant. Encouraging collaboration across departments and providing autonomy to explore new ideas can lead to breakthroughs that fuel an organisation's success. As Prometheus’s fire illuminated the path to human progress, so too can the spark of intrapreneurship light the way toward a brighter future for businesses. Disclaimer: This article is authored by Manoj Nair,AVP &amp; Global Head of Marketing, Corporate Strategy &amp; Risk, Infosys BPM. The opinions expressed are those of the author and do not necessarily reflect the views of Business Insider India. This article is published by the Insider Studios team. You can get in touch with them on <a href="mailto:insiderstudios@businessinsider.in">insiderstudios@businessinsider.in</a>.

Ignite the fire of innovation: The intrapreneurship advantage

According to a new analysis, <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword> contributed $1.28 billion in <keyword id="20000757" type="General" weightage="20" keywordseo="climate-finance" source="keywords">climate finance</keyword> through <keyword id="20401772" type="General" weightage="20" keywordseo="multilateral-development-banks" source="keywords">multilateral development banks</keyword> (MDBs) in 2022, surpassing the contributions of many developed countries. The study, conducted by the UK-based think tank ODI and the <keyword id="23038658" type="General" weightage="20" keywordseo="Zurich-Climate-Resilience-Alliance" source="Orion">Zurich Climate Resilience Alliance</keyword>, comes amid a renewed push by some developed countries to broaden the donor base for climate finance to include developing countries like China and <keyword id="50996" type="General" weightage="20" keywordseo="Saudi-Arabia" source="Orion">Saudi Arabia</keyword>. The report reveals that only 12 developed countries provided their fair share of international climate finance in 2022. These countries are -- Norway, France, Luxembourg, Germany, Sweden, Denmark, Switzerland, Japan, the Netherlands, Austria, Belgium and Finland. Researchers noted that the significant gap in climate finance is largely due to the United States failing to contribute its fair share. Australia, Spain, Canada and the United Kingdom also performed relatively poorly in this regard. The analysis has identified the top 30 non-Annex II countries that provided substantial climate finance to developing countries in 2022 through multilateral contributions to development banks and climate funds. This group includes former economies in transition like Poland and Russia, countries that have achieved high-income status since 1992, such as Chile, Kuwait, Saudi Arabia and South Korea, and middle-income countries with large populations, including Brazil, China, India, Indonesia, Mexico, Nigeria, the Philippines and Pakistan. India provided $1.287 billion in climate finance to other developing countries through MDBs in 2022, a sum larger than what was contributed by some developed countries like Greece ($0.23 billion), Portugal ($0.23 billion), Ireland ($0.3 billion) and New Zealand ($0.27 billion). China provided $ 2.52 billion in climate finance through MDBs in 2022, Brazil gave $ 1.135 billion, South Korea gave $1.13 billion and Argentina gave $1.01 billion. According to the United Nations Framework Convention on Climate Change (<keyword id="21931277" type="General" weightage="20" keywordseo="UNFCCC" source="keywords">UNFCCC</keyword>), adopted in 1992, high-income, industrialised countries (referred to as Annex-II countries) are responsible for providing finance and technology to help developing countries combat and adapt to climate change. These countries, including the US, Canada, Japan, Australia, New Zealand and European Union (EU) member states, such as Germany, France and the UK, have historically benefitted from industrialisation and contributed the most to greenhouse gas emissions. At COP15 in Copenhagen in 2009, these developed countries pledged to jointly provide $100 billion each year by 2020 to help developing countries mitigate and adapt to climate change. However, this target has not been fully met, leading to a significant finance gap. This shortfall has eroded trust and hindered climate action in developing countries. In May, the Organisation for Economic Cooperation and Development (<keyword id="19916574" type="General" weightage="20" keywordseo="OECD" source="keywords">OECD</keyword>) claimed that developed countries had met the long-standing $ 100 billion-a-year promise by providing nearly $ 116 billion in climate finance to developing countries in 2022, with nearly 70 % of the money given in the form of loans. The ODI researchers pointed out that many developed countries, despite performing well in terms of climate-finance contributions, would make "markedly less progress towards meeting their fair share if the finance provided was accounted for on grant-equivalence terms" -- in other words, if it reflected their real fiscal effort. The report calls for the inclusion of a "burden-sharing mechanism" in the New Collective Quantified Goal (NCQG) to provide clarity on each country's obligations and hold countries accountable. The NCQG refers to the new, larger amount that developed nations must mobilise annually, starting 2025, to support climate action in developing countries. Countries are expected to finalise the NCQG at this year's UN climate conference -- <keyword id="20082972" type="General" weightage="20" keywordseo="COP29" source="keywords">COP29</keyword> -- in Baku, Azerbaijan in November. The current $100 billion annual climate-finance goal is a collective commitment by developed countries. Its collective nature has meant that individual developed countries are not accountable for specific sums of money, potentially reducing the overall amount of climate finance provided due to the lack of individual scrutiny. The inclusion of a burden-sharing arrangement among developed countries could potentially strengthen the NCQG by fostering greater accountability and trust among parties, according to the ODI researchers. Many developing countries, including India, have recently advocated for such an arrangement to enhance accountability among developed countries.

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