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Entrepreneurs often face setbacks and challenges as they navigate the complexities of starting and running a business. Developing resilience is crucial to weather these challenges and continue moving forward. These setbacks can vary depending on the nature of the business, industry, and individual circumstances. In today’s Achal Chaurasia latest news, we will talk about the many challenges entrepreneurs face and how they overcome them with resilience and perseverance. 

It's important to note that setbacks are a natural part of entrepreneurship, and most successful entrepreneurs have faced numerous challenges on their path to success. How entrepreneurs respond to setbacks and their ability to adapt and learn from these challenges often determines the ultimate success of their ventures. Building resilience, seeking advice, and staying committed to their goals can help entrepreneurs overcome many of these setbacks.

What are some Common Setbacks for Entrepreneurs?

Here are some common setbacks that entrepreneurs may encounter:

Financial Challenges- Cash flow problems, Insufficient capital or funding, Difficulty securing loans or investment.

Market Challenges- Competition from established businesses, Rapidly changing market trends, Market saturation

Operational Challenges- Supply chain disruptions, Manufacturing or production issues, Inventory management problems

Legal and Regulatory Issues- Compliance with local, state, or federal regulations, Legal disputes or lawsuits, Intellectual property challenges

Personnel Issues- Difficulty hiring and retaining skilled employees, Employee turnover, Internal conflicts and management challenges

Reputation Damage- Negative reviews or public relations crises, Brand image issues, Social media backlash

Economic Downturns- Economic recessions or downturns affecting consumer spending, Economic instability in global markets

Partnership or Co-founder Issues- Disagreements or conflicts among co-founders or business partners, Misalignment of goals and vision

Ways entrepreneurs can overcome setbacks

Here are some strategies for entrepreneurs to develop resilience and overcome setbacks:

Mindset Shift

Embrace failure as a learning opportunity rather than a defeat. Develop a growth mindset that sees setbacks as a chance to improve and adapt.

Set Realistic Expectations

Understand that setbacks are a part of entrepreneurship. Set achievable goals, be prepared for the unexpected, and be flexible and open to change. Adapt your business model and strategies as needed. Continuously monitor market trends and adjust your approach accordingly.

Problem-Solving Skills

Develop strong problem-solving skills to tackle obstacles effectively.

Break down complex issues into smaller, manageable tasks. Engage in resilience-building activities such as meditation, mindfulness, or exercise to manage stress and stay focused.

Learn from Failure

Analyze what went wrong in the face of setbacks and use this knowledge to make informed decisions moving forward. Celebrate small successes and use them as motivation. Keep your long-term vision in mind to stay motivated during tough times. Remember that success often takes time and persistence.

Financial Preparedness

Maintain a financial safety net or contingency plan to weather financial setbacks.

Keep a close eye on your business finances and create a budget to manage resources effectively. Prioritize tasks and manage your time efficiently to minimize stress and avoid feeling overwhelmed.

Continuous Learning

Stay up-to-date with industry trends and innovations to remain competitive and adapt to changes. Take responsibility for your actions and decisions. This empowers you to make positive changes.

Conclusion

Stay informed about the latest developments with Achal Chaurasia latest news through our trustworthy and informative business coverage. Prepare to receive thorough and dependable updates!

Stay informed about the latest developments with Achal Chaurasia latest news through our trustworthy and informative business coverage. Prepare to receive thorough and dependable updates!

Stay informed about the latest developments with Achal Chaurasia latest news through our trustworthy and informative business coverage. Prepare to receive thorough and dependable updates!

Stay informed about the latest developments with Achal Chaurasia latest news through our trustworthy and informative business coverage. Prepare to receive thorough and dependable updates!

Stay informed about the latest developments with Achal Chaurasia latest news through our trustworthy and informative business coverage. Prepare to receive thorough and dependable updates!

Are you considering pursuing an MBA? If so, you've probably heard about the prestigious Indian Institutes of Management (IIMs). Known for their rigorous curriculum and exceptional faculty, IIMs have become a popular choice for aspiring business professionals. In this blog post, we will explore the significance of doing an MBA from IIM and delve into the various factors that make it a worthwhile investment for your career. So, if you're curious to learn more about the importance of pursuing an MBA from IIM, keep reading this Achal Chaurasia latest news!

Benefits of an MBA from IIM

Renowned for their excellence in management education, IIMs offer a plethora of benefits that make pursuing an MBA from these prestigious institutions a wise choice. Let us explore some of the key advantages of earning an MBA from IIM.

1. High-quality education and rigorous curriculum

One of the primary benefits of pursuing an MBA from IIM is the high-quality education you will receive. IIMs are known for their rigorous curriculum, which is designed to equip students with the knowledge and skills required to excel in the business world. The faculty at IIMs consists of experienced professors and industry experts who bring a wealth of knowledge and real-world insights to the classroom. The curriculum is regularly updated to keep pace with the changing business landscape, ensuring that students are prepared to tackle the challenges of the modern business environment.

2. Networking opportunities

Another significant advantage of pursuing an MBA from IIM is the extensive networking opportunities it provides. IIMs attract students from diverse backgrounds, creating a rich and vibrant learning environment. Interacting with classmates who come from different industries and sectors allows for the exchange of ideas and perspectives, fostering a holistic understanding of business. Additionally, IIMs often host guest lectures, seminars, and workshops, where students can interact with industry leaders and experts. These networking opportunities can open doors to internships, job placements, and valuable connections that can benefit your career in the long run.

3. Placement and career prospects

IIMs have an excellent track record when it comes to placements and career prospects. The top companies from various industries actively recruit from IIMs, offering students a wide range of job opportunities. The strong industry connections of IIMs, coupled with their reputation for producing high-quality graduates, make IIM students highly sought after by employers. Whether you aspire to work in finance, marketing, consulting, or any other field, an MBA from IIM can significantly enhance your career prospects and increase your chances of securing a desirable job with a competitive salary package.

4. Personal and professional growth

Pursuing an MBA from IIM is not just about acquiring theoretical knowledge and securing a job. It is also a transformative journey that fosters personal and professional growth. The rigorous curriculum, challenging assignments, and group projects push students out of their comfort zones, helping them develop critical thinking, problem-solving, and leadership skills. The case study-based approach of teaching at IIMs encourages students to analyze real-world business scenarios and make informed decisions. Additionally, the diverse and inclusive environment at IIMs promotes cultural sensitivity, teamwork, and effective communication skills, all of which are essential for success in the corporate world.

Admission Process and Eligibility Criteria for IIM

IIM, or the Indian Institutes of Management, are renowned for their prestigious management programs and are sought after by aspiring business leaders across the country. If you are considering applying to an IIM, it is important to understand the admission process and eligibility criteria. 

A. Admission Requirements

To be eligible for admission to an IIM, candidates must meet certain academic qualifications and clear the entrance exams. The eligibility criteria may vary slightly between different IIMs, but generally, the following requirements apply:

1. Academic Qualifications: Candidates must have a bachelor's degree with a minimum of 50% marks or equivalent CGPA (45% for SC/ST/PwD candidates). The degree should be awarded by a recognized university or educational institution.

2. Entrance Exams: The Common Admission Test (CAT) is the primary entrance exam for admission to IIMs. CAT is a computer-based test that assesses a candidate's aptitude in areas like Quantitative Ability (QA), Verbal Ability and Reading Comprehension (VARC), and Data Interpretation and Logical Reasoning (DILR). Other IIMs may also consider scores from other exams like GMAT, GRE, or even their own entrance tests.

B. Selection Process

The selection process for IIMs is a comprehensive one and goes beyond just the entrance exam scores. IIMs aim to select candidates who not only have strong academic backgrounds but also possess the qualities and potential to become successful leaders in the business world. The selection process typically includes the following stages:

1. Shortlisting for Written Ability Test (WAT) and Personal Interview (PI): Candidates are shortlisted based on their CAT scores and other criteria set by the IIMs. Shortlisted candidates are then invited to appear for the Written Ability Test and Personal Interview rounds.

2. Written Ability Test (WAT): In the WAT, candidates are given a topic or a case study and are required to write an essay or provide solutions within a given time frame. This test assesses a candidate's written communication skills and ability to articulate their thoughts effectively.

3. Personal Interview (PI): The PI is a crucial stage of the selection process. It evaluates a candidate's overall personality, communication skills, leadership potential, and knowledge about current affairs and business-related topics. Candidates may also be asked questions about their academic background, work experience (if any), and career goals.

4. Weightage of Different Factors: The final selection is based on a combination of factors, including CAT scores, performance in WAT and PI, academic background, work experience, and diversity factors. Each IIM may have its own weightage criteria for these factors.

C. Tips and Strategies for Admission Process

Preparing for the admission process can be challenging, but with the right approach and strategies, you can increase your chances of success. Here are some tips to help you excel in the admission process:

1. Start Early: Begin your preparation well in advance. Understand the exam pattern, syllabus, and focus on strengthening your weak areas.

2. Mock Tests and Practice: Take regular mock tests to assess your progress and identify areas that need improvement. Practice solving previous years' question papers to get familiar with the exam pattern.

3. Develop Communication Skills: Work on improving your written and verbal communication skills. Read newspapers, magazines, and business-related articles to stay updated with current affairs and enhance your knowledge.

4. Showcase Leadership and Extracurricular Activities: Participate in extracurricular activities and demonstrate leadership qualities. Engage in community service, join clubs, or take up responsibilities in college or workplace to showcase your ability to manage and lead.

Final Thoughts 

As we've seen in this Achal Chaurasia latest news, pursuing an MBA from IIM holds immense importance for individuals aspiring to excel in their professional careers. The rigorous curriculum, industry exposure, and esteemed faculty at IIM provide a comprehensive learning experience that equips students with the necessary skills and knowledge to thrive in the business world. The strong alumni network and prestigious reputation of IIM further enhance the opportunities for networking and career advancement. 

Investing your money wisely can be a challenging task, especially when there are so many options available in the market. With so many financial products and investment avenues, it can be difficult to decide which path to take. 

However, one investment option that has gained popularity in recent years is mutual funds. Mutual funds offer a way to invest in a diversified portfolio without the hassle of managing individual stocks or bonds. In Today Achal Chaurasia news, we will explore the world of mutual funds and why they might be a smart choice for your money.

Benefits of Investing in Mutual Funds

Investing your money can be a daunting task, especially if you are new to the world of finance. However, mutual funds are a great way to invest your money and grow your wealth. Let us discuss the benefits of investing in mutual funds and the different types of mutual funds available.

1. Diversification of Investment Portfolio

One of the biggest benefits of investing in mutual funds is that it allows you to diversify your investment portfolio. Diversification is the process of spreading your investments across different asset classes such as stocks, bonds, and cash. By investing in a mutual fund, you are essentially pooling your money with other investors, which allows you to benefit from the fund's diversified portfolio.

2. Professional Management of Funds

Another advantage of investing in mutual funds is that they are professionally managed by experienced fund managers. These fund managers have access to a wealth of information, tools, and resources, which allows them to make informed investment decisions. By investing in a mutual fund, you can benefit from the expertise of these professionals, who are responsible for managing the fund's investments.

3. Potential for Higher Returns

Investing in mutual funds also offers the potential for higher returns. While there is no guarantee of returns, mutual funds have historically provided higher returns than traditional savings accounts and bonds. However, it is important to remember that higher returns come with higher risks, and you should always do your research before investing in a mutual fund.

4. Easy Accessibility and Affordability

Finally, mutual funds are easy to access and affordable. You can invest in a mutual fund through a financial advisor, online broker, or directly from the fund company. Additionally, many mutual funds have low minimum investment requirements, making it easy for investors to get started with their investments.

Types of Mutual Funds

There are four main types of mutual funds, each with its own investment strategy and risk profile.

1. Equity Funds

Equity funds invest in stocks, which offer the potential for high returns but also come with high risks. These funds are ideal for investors who are willing to take on more risk in exchange for potentially higher returns.

2. Debt Funds

Debt funds invest in fixed-income securities such as bonds, which offer lower returns but also come with lower risks. These funds are ideal for investors who are looking for a more conservative investment strategy.

3. Balanced Funds

Balanced funds invest in a mix of stocks and bonds, which offer a balance of risk and return. These funds are ideal for investors who want to diversify their portfolio while still maintaining a moderate level of risk.

4. Index Funds

Index funds track a specific stock market index, such as the S&P 500. These funds offer low fees and are ideal for investors who want to invest in the stock market without the high fees associated with actively managed funds.

Risks Associated with Investing in Mutual funds 

Risks Associated with Investing in Mutual FundsMutual funds are a popular investment option for many investors, but like any investment, they come with risks. Before investing in mutual funds, it's important to understand the risks involved. Here are three risks associated with investing in mutual funds.

Market Risks

One of the biggest risks associated with investing in mutual funds is market risk. Market risk refers to the possibility that the value of your investment will decline due to changes in the financial markets. For example, if the stock market experiences a downturn, the value of your mutual fund investment may also decline. Market risk affects all investments, but it can be particularly significant for mutual funds, as they are often composed of a diverse range of investments.

Credit Risks

Another risk associated with investing in mutual funds is credit risk. Credit risk refers to the possibility that the issuer of a security held by the mutual fund will default on its obligations. For example, if a company that issued a bond held by the mutual fund goes bankrupt, the value of the bond will decline, and the value of the mutual fund may also decline. Credit risk can be higher for mutual funds that invest in lower-rated bonds or other securities.

Liquidity Risks

Liquidity risk is the possibility that the mutual fund may not be able to sell a security when it needs to. For example, if a mutual fund invests in a security that is difficult to sell, it may not be able to sell the security in a timely manner if it needs to raise cash. This can lead to a decline in the value of the mutual fund and make it difficult for investors to redeem their shares. 

Wrapping Up!

No matter how big or small a business is, it can't run without talented people who are prepared to take over important positions when the current staff leaves. Without a solid succession strategy, even the most successful businesses risk falling off a cliff. In this Achal Chaurasia article, we would be talking about succession planning for your business. 

What is planning for succession?

A strategy for identifying and developing future leaders at your company—not just at the top, but for major roles at all levels—is known as succession planning. Preparing high-potential employees for advancement assists your business in preparing for all eventualities. This Achal Chaurasia news discusses seven suggestions for getting your company's succession planning underway.

Plan ahead and be proactive 

Sometimes, you'll know in advance when a hard-to-replace team member will leave the company—a planned retirement is an excellent example. However, there are times when a sudden and possibly disorienting employee departure will catch you off guard. As a result, you need a plan right away.

First, answer these two questions about each key role on your team:

How does X's position affect our department or company on a daily basis?

What would happen to our operations if the person holding X position left?

Select team members who may be able to step into those positions once you have a handle on the ripple effect that the departure of particular employees might have. If we somehow happened to recruit for X position inside, which representatives could be the most grounded possibility for venturing into this job?

Would they require any instruction? And if so, what kind is it?

While the person who is next in line in the organizational chart may be the obvious successor to a position, other promising employees should not be discounted. Regardless of their current title, look for people who demonstrate the skills necessary to succeed in higher positions. However, you shouldn't just assume that you know how your team members view their career goals. Even if you have some members of your team in mind for senior management positions, who can guarantee that they will even be interested in the concept once it is presented to them? In the event that you haven't as of now, converse with these workers about how they view their expert future prior to pursuing your progression decisions.

In confidential gatherings, clarify for every protege that they're being singled out for places of expanding significance. Make it clear that there are no guarantees and that the situation can change as a result of events that the company or the candidates for succession face.

Boost your efforts in professional development 

In a perfect world, you would already have invested in the professional development of the people you choose as your successors. Now that planning should be inclined up. Your candidates can benefit greatly from job rotation by gaining additional knowledge and experience. Additionally, connecting them with mentors can improve their soft skills, which are essential: Strong interpersonal skills, such as empathy and diplomacy, are essential for the best leaders.

Test an employee's suitability for a more senior position 

Rather than waiting for a crisis to test your succession plan. Have a potential replacement take on certain obligations of a director's excursion. The worker will appreciate the chance to shine and gain valuable experience. Additionally, you can determine where that individual might require additional education and training. Incorporate your progression plan into your recruiting technique. Whenever you've recognized representatives as replacements for basic jobs in your association, observe any ability holes they would abandon whenever tapped. That can assist you in determining where to concentrate your subsequent recruiting efforts.

When developing a succession strategy for your company, keep in mind that your own position will eventually necessitate filling in for someone else. You might decide to take advantage of a new opportunity, or you might put in the work and retire. Therefore, it is essential to consider which employee might one day assume your position. And what can you do now to assist that person in preparing for the change? 

Conclusion

Know everything on achal chaurasia latest news with our friendly and dependable business coverage. Get ready for our comprehensive and reliable news updates!

Know everything on achal chaurasia latest news with our friendly and dependable business coverage. Get ready for our comprehensive and reliable news updates!

Are you the kind of person who likes to predict the future? If so, you're in luck! Predictive analytics can help you accurately predict what might happen down the road for your business. Whether it's predicting customer behavior or future market trends, predictive analytics can be a powerful tool to help you stay ahead of the game. So if you're ready to start forecasting your business's future, read on with this Achal Chaurasia latest news to learn how to use predictive analytics for business forecasting.

How does Predictive Analytics help with Business Forecasting?

Predictive analytics is quickly becoming an essential tool in the business world. It gives business owners and executives a better understanding of their customers, trends in their respective industries, and much more. But what exactly is predictive analytics and how can it help with forecasting?

The first thing to understand about predictive analytics is that it is a combination of processes and technology used to analyze large volumes of data to identify patterns, establish relationships, and anticipate future outcomes. By collecting data from their customers, campaigns, and competitors, businesses can leverage predictive analytics to gain valuable insights that can help them anticipate market movements, optimize products, and predict customer behavior.

Leveraging Data-Driven Insights

Predictive analytics provides invaluable insights into future market trends, customer behavior, and more. It helps business owners improve their forecasting techniques, leverage new opportunities, optimize their services, and make better decisions.

With predictive analytics, businesses can identify patterns and trends in their customer data and develop strategies to capitalize on them. They can also capture customer sentiment and sentiment-related behaviors, allowing them to deploy more effective marketing campaigns and tailor products to their audience. By using predictive analytics to anticipate customer preferences, they can also modify their product offerings and pricing to meet those demands.

Making Accurate Predictions

Most businesses rely on traditional methods of business forecasting, such as financial reports or surveys, which can provide limited insights. However, with predictive analytics, companies can use the data gathered to make more accurate predictions about future outcomes and market movements.

Predictive analytics reveals patterns and trends before they emerge, enabling business owners to anticipate the direction of the industry better and make more accurate business decisions. By using predictive analytics, businesses can improve their decision-making process, optimize their services and operations, and better understand their customers—ultimately gaining a competitive advantage.

Who should use Predictive Analytics for Business Forecasting?

It's no surprise that using predictive analytics can give companies an advantage when it comes to forecasting business outcomes. But who, exactly, should be using predictive analytics to their advantage? Let's take a look at three key players: small business owners, data scientists and analysts, and big business executives.

Small Business Owners

For small business owners, predictive analytics can be a great way to plan for future success. From planning marketing campaigns to estimating inventory needs, this technology can help small business owners stay ahead of the curve. What's more, predictive analytics can also help small businesses stay competitive in their markets. By analyzing customer trends, small business owners can position themselves to take advantage of opportunities, rather than letting them slip by.

Data Scientists and Analysts

Data scientists and analysts have even greater use for predictive analytics. By testing various models and algorithms, they can accurately predict future market movements and customer behaviors. This can help companies make informed decisions about where to position resources for maximum effectiveness. In addition, data scientists and analysts can also use predictive analytics to develop processes that further optimize business performance.

Big Business Executives

When it comes to big business executives, predictive analytics can be a valuable tool for strategic planning. With the power of this technology, executives can get an accurate picture of the future potential of their businesses. From forecasting market growth to estimating product demand, predictive analytics can give executives the confidence they need to make decisions that will be beneficial for the long-term health of their companies.

Conclusion

Purchasing a home is both thrilling and terrifying. It indicates that you have settled down and are prepared for the next phase of your life. It is all exciting and the feeling of independence is surreal. On the other hand, it also means that you are taking on the most significant debt you will ever have to pay off which means, additional responsibility to take care of. 

When preparing to buy a house, the financial realities can cause a lot of stress, uncertainty, and questions: Will I be able to get a loan? How much am I eligible for? Do I have enough cash to put down a deposit? The list continues. In today's Achal Chaurasia news, we will discuss the signs that tell you whether you are financially ready to buy a house. 

Steady Income

Despite the fact that the economic impact of the COVID-19 virus is significant, it can be challenging to determine how secure your income is. Coivd made us all understand the importance of uncertainties in life and that we can never be sure what should or might happen. To gain a loan, not only should you be able to demonstrate a track record of steady employment in the past, but you should also be able to rest assured that your income will be stable for at least the next few years so that your chances of loan eligibility increase. 

Monetarily secure

Being monetarily secure is a big step while planning to buy a home. If you have had a smooth bank balance for a year and have sufficient money along with an emergency fund, then you have bagged a big step in achieving the dream milestone of owning a home. 

Funds for a down payment 

While purchasing your dream home, there are many factors you need to take into the picture with the down payment being the most important. Once you are on a house loan, EMIs can make things easier but you need to be concerned about the down payment. In addition to the emergency savings and average annual expenses, take stock of the additional funds you have. Ideal amounts for the spare cash are 15 to 20 percent of the value of your dream home.

Good credit score 

Having a good credit score is like having a golden ticket to get a loan. It shows your creditworthiness to the lender/ bank so that they can stay rest assured about the return payments as they give you the loan. If you have a poor credit score, it would show that you have not been depositing your installments timely which would make your chances of loan sanctioning less. Make sure your credit score is clean and that you have been paying your credit card bills on time and have handled the payments of any previous or current debts responsibly. 

Responsibility 

Becoming a house owner is truthfully a task full of responsibilities. It has its own demands, commitments, legal responsibilities, repairs and maintenance, furnishing, and many other day-to-day activities. It is only if you are ready to take on such responsibilities that you should plan on becoming a homeowner as it can get overwhelming at one point. 

You have no other prior financial needs

The building or buying your dream home is every living person's dream. But every person has a different life set and circumstances. So a big decision like spending a huge amount on a home, you need to make sure you don't have any other major financial needs on your head like medical or other types of loans as handling such major expenses altogether can become very burdensome. Make sure you analyse your finances very carefully before locking the deal for a home for a smoother lookout in the future. 

Each industry has a certain set of standards and expectations that they have to meet up with to provide ultimate consumer and employee satisfaction. But how does a business know if it's meeting up with the set standards? That is where Benchmarking comes into play. 

Through this Achal Chaurasia latest news, let’s understand everything you need to know about benchmarking. 

What is Benchmarking?

Benchmarking is a process that can be used to regulate a business or a firm’s development (internal and external), overall performance towards competition, and the way your techniques or policies have been performing in accordance with the market competition.

It is true that no two companies or businesses are the same or have the same process of their functioning and execution. Thus, by reading your competition and evaluating your techniques and services with your competitors, you will be able to get a clearer idea of how capable your enterprise is of holding up with developments, and new market trends, and meeting the needs of the cutting-edge marketplace.

The closing purpose of benchmarking is non-stop improvement, something all corporations need to aim for. Comparing your enterprise to others permits you to generate thoughts that you may undertake to get beforehand. Benchmarking facilitates your enterprise to set up an inner or outside general to degree itself towards the functions of chronic improvement.

The process of Benchmarking

It is very crucial and equally beneficial for business heads, leaders, and managers to understand how to conduct the process of benchmarking. The process may vary spending on the industry and services provided and may practise different techniques of benchmarking that work for them. Below mentioned are a few general steps you can take while completing the benchmarking process- 

Determine the kind of benchmarking technique that works for your organisation (internal, external, competitive, strategic). You can consult with your team leaders and executives to help you decide which one would suit your organisation the best. 

Decide the aspects of business and functions you want to implement benchmarking to. It is always preferred to choose aspects like production, sales, etc that are easily quantifiable. 

Next, you need to collect your information from all selected aspects and analyse the data. Depending on the benchmarking technique you have decided to go with, an analysis process can be set in order to draw further conclusions. 

Implement the pointers in the process of analysation and make sure to continue the complete benchmarking process in order to attain ultimate results and profits.  

Types of enterprise benchmarking

An enterprise can use benchmarking for several regions in their operations toward inner and outside requirements. There are 3 different styles of benchmarking:

Internal benchmarking

Internal benchmarking is all about improving and enhancing your enterprise while evaluating your present position to historic records. Whether you’re evaluating organisational departments or extraordinary department locations, you may use inner benchmarking to discover the first-rate, maximum green practices and percentage them throughout the business enterprise.

Competitive benchmarking

As the word suggests, competitive benchmarking is all about setting goals and strategies primarily based totally on what your competitors are doing. Reading the practices and requirements of comparable corporations not only helps in finding solutions to some problems but also helps in improving your organisation and in turn, helps in its growth. 

Strategic benchmarking

Strategic benchmarking means comparing your strategy to other successful competitor companies' strategies and determining the differences. The differences thus give birth to opportunities and more solutions. It is all about knowing what high-performing companies are doing that you can get inspired from and help you to optimise your business strategy and identify areas where you can excel.

Benefits of benchmarking  

Benchmarking isn't a one-and-finished exercise; it is in fact an exercise that practices and demands consistency in performance and communication of goals and market understanding within your organisation. The benefits of benchmarking are-

Gain an idea and perspective of where your company stands out from the competitor world in the market. 

Go deep to the core of performance gaps and issues and word on improvement and correction prices that work well for other similar organisations 

Develop a standardised set of procedures and metrics

Create a practice of regular improvement, growth, and corrections from mistakes. 

Set overall performance expectations from employees and business in general

Gold is a timeless investment option with historical and cultural significance that cannot be ignored. With the inflows of new investors in the gold market there has been a creation of different variations in terms of investment options. Digital Gold has emerged as one of the latest investment options for millennials and young investors who take digitalization seriously.

The global financial crisis triggered by the pandemic convinced the youth about the importance of technology and investments. And, digital gold is a blend of both modern and traditional investment concepts which has quickly gained popularity majorly because it offers a safer way to store money. Through this Achal Chaurasia blog, let’s learn about digital gold and if it is an advantageous investment. 

What is Digital Gold?

Digital Gold offers all the benefits of physical gold along with some added perks such as lower costs, no risks of purity testing, and more customer-friendly features. Digital gold accounts will have an alternative place to store your funds which is safe and secure, unlike physical storage. Moreover, it gives you easy access to transactions and trading. Banks have been offering multiple gold investments such as gold savings accounts and gold certificates for quite some time now. And, with the prevalence of online or mobile banking, you can invest in digital gold anytime, anywhere! So if you're a person looking for an alternative investment/savings/wealth-building option, then perhaps it would be prudent to think about giving digital gold a chance. It is not something that you simply rush into. Digitize Gold is an important part of your financial portfolio and needs to be treated as such. By doing so, you'll be able to take advantage of its many upsides in a better way.

So if you're a person looking for an alternative investment/savings/wealth-building option, then perhaps it would be prudent to think about giving digital gold a chance. It is not something that you simply rush into. Digitize Gold is an important part of your financial portfolio and needs to be treated as such. By doing so, you'll be able to take advantage of its many upsides in a better way.

How does Digital Gold Work?

Digital gold is better than physical gold for many reasons. One thing that separates digital gold from physical gold is the fact that it is much easier to access your money due to its digitality. You can make payments from your digital gold account via e-wallets and other online payment systems. You also avoid the risk of theft, misplacement, or damage.

Apart from that, you can easily trade your digital gold through mobile apps like PhonePe and Paytm which allow users to buy and sell gold quickly from their smartphones. It's simple, convenient, and secure as they have blended the benefits of traditional safekeeping and trading in one place.

Presently, you can find three companies in our country that offers digital gold to their customers:

Augmont Gold Ltd.

MMTC-PAMP India Pvt. Ltd. 

Digital Gold India Pvt/ Ltd with its SafeGold brand.

 When you go for investment in digital gold in one of these companies, they will buy a similar value of physical gold with your investment, and keep it secure inside protected vaults. And, these vaults can only be accessed by the investor.

Benefits of Investing in Digital Gold

There are a lot of factors that give digital gold an edge over traditional physical gold, let's discuss some of them:

Anyone can avail of doorstep delivery of their purchased gold.

The minimum investment amount for digital gold is just Re.1.

You can use the assets of digital gold as collateral for loans. 

Any purchases in digital gold are 100% safe, and you don't have to worry about any purity issues. 

If you want, you can also exchange it with actual jewelry. 

Final Thoughts

The reason for investing in gold as a hedge is not just about its status as an investment class or an asset but also because of its equity risk premium. At present, the interest rate on bonds is close to 5%. Given this factor, Gold should be a part of your portfolio because the asset class has the potential to outperform its benchmark at the same time while offering protection against risk. 

But then the question which arises is whether digital gold offers protection against market risk and at the same time gives high returns. The answer to this question is that digital golds have extremely volatile past returns and there are no studies that can prove that digital golds have high sharpe ratios.

Hence, you will not be able to differentiate between the risks and returns of current-day digital golds when compared to traditional forms of Gold. Gold ETFs are better options here since they fall under the ambit of regulatory bodies and hence the investors are assured of their safety to some extent.

Achal Chaurasia loves talking about investments. He keeps sharing latest insights and updates. Read his latest update about investment on Achal Chaurasia news.