What Should B-Schools Teach?

Many organizations are connecting everyone, everything and everywhere. Organizations are also becoming capable of delivering instant, intimate, incremental value on a large scale which is also personalized. They are creating a world in which people, insights and money interact quickly and at ease. Technology is changing how a business operates. Are B-Schools preparing the students for the 'unknown risks' of tomorrow? Let’s unravel.

One aspect for several Indian B-Schools is the fact that career and growth in a business school depends more on research than on teaching. The growth depends more on the number of papers and citations that a professor has, than his or her capability to strategize and run a business or even teach in a classroom. Getting into a class, teaching a group of graduate students is being seen as a punishment by some faculty members as it is not rewarding them in equivalence to having one or two publications in Australian Business Deans Council’s (ABDC) Journal Quality List, be it the ranking agencies or even the regulatory authorities; everyone is running the race of publishing so that they can publish papers. Research is good and is necessary only when it adds value. Several Indian B-School professors are publishing papers for adding quantity and are not focusing on the quality, utility and value. If they don't do it, they are left out and hence even cats are running the rat race, today!

Many business school’s professors have no management experience required to manage a business which is technology based and also does not understand the strategic management aspects required for implementing and managing the new paradigms of business. Also in many Indian B-schools, professors have never worked in corporate sector or have never been a part of a start-up, never taken consulting assignments to solve real-world challenges of organizations but are teaching the students on how to face the challenges thrown by the corporate conglomerates. Doesn't that sound crazy? There are some skills, knowledge and competencies which must be taught in B-Schools.

Facing Failure - B-Schools assume that all students will keep achieving success and will never fail! This can never happen in reality. Many millennials who are entering the workforce, break down miserably when they face failure. Hence B Schools must teach students on how to face failure. They must also teach them to cope up with failure and educate them on how to get going in case they face failure.

Adapting to Change and keep learning – Change is an integral part of any growth experience. With technology becoming obsolete at a faster pace and companies like Amazon, Apple, Alibaba, Airbnb, Facebook, Google, Spotify, Tesla, Uber, etc. are constantly innovating products, services and even the business models. B Schools students must be taught to adapt and learn fast.

Learning from others failure – Many B-Schools invite corporate gurus who are successful and those who have achieved fast growth rates or those who occupy Chief Experience Officer position. Not many B-Schools invite failed start-ups or those entrepreneurs who didn't succeed. This must be an integral part of the B-School curriculum where the students must be exposed to such people so that they can learn from others mistake.

Sales - Sales is a core function and is one of the prime aspects of every business. There are a few electives in Sales and students are taught sales techniques which give only theoretical knowledge. B-Schools assume that the organizations will put the student through a sales training program all by themselves. This is a blunder; hence B-Schools must teach, train and equip every student to be a sales expert by giving them the appropriate input for the same.

Cutting edge tech – B-School curriculum hardly has cutting edge tech-tools training included in it. Taking an example of 'Microsoft Power BI', which offers a wide array of services for data management and is considered an integral tool of financial management is not taught in more than 95 per cent of Indian B-Schools. Another example can be 'Tableau' which is a powerful data visualization tool used for Business Intelligence, is taught only in a handful Indian B-Schools.

The soft skills – B-School must ensure that aspects like empathy, ability to be highly communicative, intuitive and analytic, inventive ability along with strategic orientation are ingrained in every student. The habit of reading books which can make them develop diverse interests should also be mandatory.

Will B-Schools have the right mentors to do this job? Will the regulatory agencies make the necessary changes? Required measures should be taken accordingly.

Source: Entrepreneur India

Author: Dr Ramakrishnan Raman & Dr Justin Paul

How Leaders Are Fighting Food Insecurity on Three Continents

The United Nations warns that the pandemic could almost double the number of people facing food crises in lower-income populations by the end of 2020. Howard Stevenson and Shirley Spence show how organizations are responding.

COVID-19 is creating unprecedented strains on food security worldwide. The United Nations' World Food Programme warns that the pandemic could almost double the number of people facing food crises in low- and middle-income populations to 265 million by the end of 2020. Even the wealthiest nations are experiencing increased food insecurity among vulnerable populations, disruptions throughout food systems, and difficulty getting excess supply to the people who most need it.

Responses range from international food programs to economic stimuli, from national and regional governments to local charity work. For businesspeople already working to tackle food insecurity and promote healthy, sustainable food, COVID-19 is a double-edged sword: a disruption of their current efforts and a potential opportunity to help with urgent needs and create a better future.

In the course of writing Problem Solving: HBS Alumni Making a Difference in the World, and more recent conversations specifically about COVID-19 impacts and responses, we’ve talked with many Harvard Business School alumni the world over. Here are some examples of how they are leading their organizations to meet food security challenges presented by the pandemic on three continents:

West Africa

The region’s already fragile food ecosystems are buckling under the pandemic strain, with lockdowns keeping farm workers from their fields, supply chains disrupted, price hikes, food shortages, and growing unrest among the unemployed. Despite public- and private-sector efforts to feed the most vulnerable, the number of people at risk of food insecurity and malnutrition is projected to increase from 17 million to 50 million between June and August 2020.

Ndidi Okonkwo Nwuneli (HBS MBA 1999) and Mezuo Nwuneli (HBS MBA 2003) have dedicated their careers to unlocking the potential of agriculture in Africa and are engaged in a range of coronavirus responses. They see COVID-19 as a wake-up call. “Many global experts have underscored that this pandemic is a 12-18 month battle and that we can expect future pandemics and shocks related to climate change and other crises,” Ndidi Nwuneli says. “There is an urgent need to transform and strengthen our food ecosystems.”

AACE Food Processing & Distribution Ltd., cofounded by the Nwunelis in 2009, processes, packages, and distributes branded food products sourced from subsistence farmers. The company is operating at reduced capacity to ensure social distancing in its factory and contributing to food drives in several Nigerian states. “AACE also is leading a drive to provide its Soyamaize product, which is a complete meal that fights moderate malnutrition, to 50,000 families,” according to the Nwunelis.

Sahel Capital Agribusiness Managers, where Mezuo Nwuneli is the managing partner, provides capital and technical assistance to food and agriculture-focused small- to medium-sized enterprises (SMEs) through the Fund for Agricultural Finance in Nigeria (FAFIN). Sahel Capital has launched a COVID webinar series for companies on topics including “Building a Resilient Supply Chain” and “Managing an Effective Work Force during a Crisis.”

Sahel Consulting Agriculture and Nutrition Limited, where Ndidi Nwuneli is the managing partner, has remained open with Lagos and Abuja offices working remotely and field teams continuing to support Sahel Consulting’s five-year Advancing Local Dairy Development in Nigeria program.

Sahel Consulting is conducting COVID-related research and developing policy recommendations for state and national governments and international development organizations. Ndidi Nwuneli is working to spur a systemic response through interviews and op-eds in Business Day Nigeria and Business Africa Online, and is writing a book called African Entrepreneurs Nourishing the World.

Sahel Consulting also provides COVID-19 support through Nourishing Africa, its online hub for agribusiness entrepreneurs. “We have created a resource center offering COVID-19 information and weekly webinars, and we are developing training and small-grant interventions programs to help SMEs survive the pandemic and build more resilient business models,” Ndidi Nwuneli says.

Australia

In Australia, COVID-19 came on the heels of bushfires that devastated many communities. “The need for food dramatically increased as COVID-19 escalated,” reported Ian Carson (HBS OPM 42, 2012), cofounder of SecondBite. “The Australian Government has implemented stimulus programs, but many vulnerable families and individuals are suffering from job losses, mental health issues, and food shortages due to significant disruptions in the food system.”

SecondBite is a national food relief organization committed to “ending waste, ending hunger.” The nonprofit works with a range of food suppliers to rescue surplus fresh food and redistribute it to local charities and nonprofits that run food programs to support people in need in their communities. Before the pandemic, SecondBite was providing food for 40 million meals a year to more than 1,200 outlets across Australia.

COVID-19 fundamentally changed SecondBite’s operating model. Declared an essential service in early March, it immediately appointed a pandemic coordinator and developed a four-phase pandemic response plan that included health screening and personal protective equipment for all employees and procedures for dealing with identified cases and affected sites. Unaffected nonoperational employees work as normal at the office, with hygiene practices and social distancing, using a split workforce schedule and remote-work arrangements.

SecondBite quickly began sourcing large volumes of additional food and working with existing corporate transport and storage partners to implement a new strategy of moving bulk produce to remote areas, as well as serving its traditional outlets.

SecondBite also found different ways to serve food to people in isolation, sourced extra funding for commercial transport and food delivery, and helped smaller relief agencies with staffing and support. Its own staffing was increased by 25 percent to accommodate the increased workload, COVID-19 requirements, and the fact that many of SecondBite’s 900 volunteers fell into at-risk categories such as the elderly and could no longer work.

By early May, SecondBite’s food volume had increased from 40 million meals to over 50 million meals per year. “The long-term impact of COVID-19 on food insecurity has yet to be determined,” says Carson. “As the government quarantine ends and recovery begins, we must ensure that SecondBite remains financially and operationally ready to support our communities.”

United States

With jobless rates at Depression-era levels, hunger is a serious issue for many Americans. Feeding America, a nationwide non-profit network of more than 200 foodbanks, predicts that an additional 17.1 million more citizens will experience food insecurity due to the pandemic, and a Brookings Institution analysis shows two in five households with mothers and children under the age of 12 unable to afford enough food. COVID-19 also is causing disruptions throughout food systems at local, regional, and national levels.

In New England, the Henry P. Kendall Foundation’s work is inspired by a vision known as 50 by 60, which describes a future whereby New England produces 50 percent of its food by 2060. In late March, however, the foundation suspended its regular programming and refocused its efforts and resources on defending the region’s food system from impacts brought on by the pandemic.

An initial set of grants was awarded to Coastal Enterprises for immediate debt relief to more than 40 farms; to CommonWealth Kitchen, a community-based organization that supports food entrepreneurs; to the Boston Food Market, which provides a year-round marketplace for locally sourced food and food products; and to help establish the New England Food System Resilience Fund with other funding partners.

“Given the uncertain and fast-moving nature of the crisis, we will closely monitor developments and respond where and when we can have the greatest impact,” executive director Andrew Kendall (HBS MBA 1988) says.

In Chicago, Gardeneers, which runs a school garden program for students, is pivoting to make the best of a challenging situation. Prior to the pandemic, Gardeneers was gearing up programs at 20 schools, had dozens of group volunteer events scheduled, and enjoyed philanthropic support from individuals and corporations.

“Now, schools are closed, events cancelled, and donations dried up while the problems we have been working to solve have worsened,” says Gardeneers co-founder, Adam Zmick (HBS MBA 2011). “COVID-19 is especially deadly for people with underlying conditions, including those related to poor diet, like obesity and diabetes. That is exacerbating existing health disparities with deep roots in food apartheid.”

Gardeneers had to furlough most of its 20-person team early on. With assistance from AmeriCorps service members, it now is focused on maximizing food production by expanding growing space and adjusting crop plans. The goal is to double last year’s harvest of 3 tons of food, which is being given free of charge to local families in need and relief groups. “We understand that we are a very small part of the food system, but whatever we are able to grow will be increasingly important,” Zmick says.

Zmick also is engaging the Gardeneer community through social media, encouraging people to garden and grow fruits and vegetables at home and share their experiences.

“Every bit of food you are able to grow helps reduce the demand on essential workers and contributes to your family’s health,” Zmick says. “And it’s a great way to relax when you are struggling with isolation and uncertainty.”

Sourc:Harvard Bsiness School 29 May,2020

COVID-19 vaccine status in India / Top 10 contenders around the world

Status of COVID-19 vaccine in India

India will begin clinical trials of its Bacille Calmette-Guérin (BCG) vaccine on 6000 high-risk individuals. It will be done to understand its safety and efficacy in boosting immunity in the fight against COVID-19 disease and whether or not the BCG shots can reduce the severity of this highly infectious disease.

The Bacillus Calmette-Guerin (BCG) vaccine is used against tuberculosis to boost the immunity of the individual.

Bharat Biotech International Ltd (BBIL) has teamed up with the Indian Council for Medical Research (ICMR) to develop a COVID-19 vaccine. One of the world’s largest vaccine maker of the world by volume, Pune’s Serum Institute of India is working with the University of Oxford to make millions of potential coronavirus vaccine doses. The Indian government has also allocated Rs 100 crore from the PM-CARES fund to support the initiative of producing a COVID vaccine.

Moderna vaccine

The US-based Moderna Therapeutics said that it had received approval from the FDA (US Food and Drug Administration) to conduct the phase 2 clinical trials of its potential COVID-19 vaccine candidate. It is important to note that Moderna has already conducted phase 1 trials of its vaccine candidate mRNA-1273 in Seattle, Washington. 

Novavax vaccine

One of the top candidates of the potential COVID-19 vaccine, Novavax Inc recently received funding of 388 million dollars from the Coalition for Epidemic Preparedness Innovation. According to Dr Gregory Glenn, president of research and development for Novavax, the vaccine candidate NVX-CoV2373 has shown promising results. 

​INOVIO Pharmaceuticals

INOVIO Pharmaceuticals is developing a DNA-based vaccine candidate in its San Diego lab. The biotechnology company also received a 6.9 million dollars funding from the Coalition for Epidemic Preparedness Innovations (CEPI). The Plymouth Meeting-based biopharmaceutical company completed phase 1 of clinical study on 40 healthy volunteers.

​Pfizer and BNTECH vaccine

US drugmaker Pfizer has teamed up with a German company BNTECH to develop a vaccine for COVID-19. Both the companies are working together on four RNA vaccine candidates. Their vaccine candidate ‘BNT162’ is based on messenger RNA (mRNA) technology and the company has already begun clinical trials in Germany. 

Johnson & Johnson vaccine

Another major player in the development of potential vaccine, Johnson & Johnson is currently working on an adenovirus-based vaccine and plans to initiate a Phase 1 clinical study in September 2020. The company also claims to ramp up its manufacturing capacity to produce around 1 billion doses of its potential vaccine by the end of 2021.

CanSino Biologics

Chinese vaccine maker CanSino Biologics Inc is developing a potential vaccine for COVID-19 and has been listed by WHO as one of the top contenders. The company is currently working on Adenovirus Type 5 Vector using a Non-Replicating Viral Vector platform to develop its vaccine. 

​Sinovac Biotech

Beijing-based Sinovac Biotech is working on China’s one of the most promising vaccine candidate for COVID-19 disease. It has already commenced phase 1 trial and the first dosing of the vaccine for the volunteers has been completed. 

University of Oxford

A potential coronavirus vaccine is being developed by the University of Oxford and it has partnered up with UK-based AstraZeneca for the same. The vaccine ‘ChAdOx1 nCoV-19’ was developed under three months by the University’s Jenner Institute. To make the vaccine work, the scientists used a weakened strain of common cold virus (adenovirus) that causes infections in chimpanzees.

​Sanofi vaccine

French pharmaceutical group Sanofi had initiated stated that the US will be given first access to the COVID-19 vaccine whenever it develops as “the US government invested in taking the risk.” US agency Biomedical Advanced Research and Development Authority was the first in line to fund the Sanofi’s vaccine research. However, after a backlash from the French government, the French pharmaceutical company released a statement on Thursday that the vaccine will be available for all the nations.

British American Tobacco (BAT)

London based cigarette company British American Tobacco has also developed a vaccine using protein from tobacco leaves and is ready for a human trial. The company said that its experimental vaccine has shown a positive immune response in pre-clinical trial and now they are waiting for approval from the U.S. Food and Drug Administration (FDA) after which it would proceed to phase 1 trial on humans.

Source Here.

The Coronavirus Pandemic Versus The Digital Economy: The Pitfalls And The Opportunities

While the coronavirus pandemic presents business risks in some areas, it also offers opportunities in others. The key is to acknowledge the potential threats while exploring the possibilities.

With businesses closing their doors and governments urging their citizens to stay home, the coronavirus has had a profound global impact. At MRM, the company I work for, we have shifted to working from home, and so far, we are still delivering on our projects, and keeping our promises to our clients. However, we can’t deny that companies, particularly those dependent on marketing and advertising, are experiencing some of the biggest challenges. Several high-profile marketing events, including Mobile World Congress Barcelona, Facebook's Global Marketing Summit, F8 conferences, SXSW, Salesforce Dubai Basecamp and others have been canceled or postponed due to coronavirus concerns. Unfortunately, many businesses won’t see that money back. But even in the wake of a pandemic, there could still be a silver lining for marketers.

The shift to digital

According to analysts, Google will likely see a 15% decline year over year in travel ad revenue in the first quarter, and a 20% drop in the second quarter due to the coronavirus epidemic. Despite that, there is still good news. Not everyone sees budget-cutting as the answer. Tim Jensen, campaign manager at Clix Marketing, offered his insights on Search Engine Land, “As the tradeshow circuit dwindles, some exhibitors are looking for other ways to fill their sales pipelines. I just talked with one client who is seeing several tradeshows get canceled, and wants to put more into digital to make up for the lost leads they usually pick up at events.”

Another marketing shift is toward virtual events. Even Microsoft decided to turn its biggest event of the year, the Build developer conference, into a virtual event. This trend presents an opportunity for virtual events startups like Hopin, which combines Twitch-style live streams of keynotes, Zoom-style video conferencing for groups, and one-to-one conversations. Even the banking industry is turning to digital. One example is South Africa's Nedbank. Nedbank plans to accelerate the rollout of its digital strategy across Africa as customers avoid face-to-face banking to reduce the risk of coronavirus. Its long-term target is for 75% of sales to be through digital channels, and for 70% of all its clients to be digitally active.

But the shift to digital will only become stronger, as Stuart Mackay, General Manager at Reprise Dubai, puts it, “This is the most significant health-related crisis that has fortunately happened in a truly digital age. During dark and uncertain times like these, it’s imperative that organizations adapt quickly and seek out new growth opportunities. The realities of changing consumer behavior in the digital age presents a huge opportunity for retailers. The optimization and simplification of product lines, business models, customer engagement, and sales channels can all be achieved through the introduction of digital technologies and e-commerce. Better utilization of data and technology to drive more individualized consumer experiences is where this battle will be won or lost.”

The e-commerce opportunity

In parts of China, major retailers like Starbucks, Nike, and Apple have temporarily shuttered their stores, while smaller retailers are being hit hard as foot traffic declines. Across the globe, the reduced in-store activity is driving increased e-commerce activity. For example, consumers in China are turning to online grocery shopping. According to French retailer Carrefour, vegetable deliveries increased by 600% year over year during the Lunar New Year period. JD.com, China’s largest online retailer, has seen sales of everyday household items quadruple over the same period last year. As more consumers continue avoiding crowded public places, they’ll increasingly turn to online shopping to get their essentials.

Of course, this could still bring strain to businesses who need to deal with potentially delayed deliveries or out-of-stock items because of increased demand. If you sell products on Amazon, for example, it is imperative not to run out of items to avoid being punished by Amazon's organic search and advertising algorithms. If a product is out of stock for over 30 days, it will be treated as if it has no sales history once it comes back in stock. This means that the product's ranking for its most important keywords will drop significantly and show up much lower in search results. The key thing for business owners is to keep products in stock, and be transparent with consumers if there are going to be any delays.

E-sports to fill the gap

With experts urging social distancing to combat the virus, one of the most obvious areas to be affected are sporting events. This represents a big blow to marketers and advertisers in terms of lost ticket sales and ad revenue. In the space of one day, every major sports league in the U.S. suspended operations for the next several weeks in response to the growing pandemic. Even esports are being affected with the League of Legends Champions Korea (LCK) being canceled as more cases of coronavirus were confirmed in South Korea.

The flip side may be that esports could also step in and help fill the gap. For example, the start of the 2020 F1 season has been pushed back in the wake of the coronavirus outbreak, with the Australian Grand Prix canceled late last week, and the Bahrain and Vietnam races postponed shortly afterward. But that didn’t stop F1 driver Lando Norris from taking part in esports to satisfy the void. Norris, footballer Thibaut Courtois, and Formula E driver Stoffel Vandoorne competed against esports professionals and YouTube stars in a virtual Australian Grand Prix.

Joe Zoghbi, an esports expert who’s the founder of Divine Vendetta, says, “Esports was born digitally, and while it was paving its way in 2020 to more on-ground events, it is a step back for sure, none the less the consumption of online gaming and esports events viewership will dramatically increase now, as we noticed in the current PUBG Mobile PMCO event. Currently, esports events are realistically the only source of live entertainment out there, new crowds will jump to take part of the action, and one way or another, brands will take notice even more and realize sooner rather than later than it’s a must to be part of this ecosystem.” Unlike soccer or rugby, the billion-dollar world of esports doesn’t require social gathering. With more live sporting events being suspended, there may be an opportunity for esports to attract a new audience.

Less competition = more market share

During an economic downturn, you’ll find that you will have less competition. In some cases, this means you’ll be able to get deals- like a potential reduction in pay-per-click advertising. If the market continues to decline, many companies will struggle to pay off their debt, which means they could go bankrupt, get bought out, or get bailed out by the government. If you have cash on hand, this could be the best time to buy out other businesses- especially media companies. Because the more traffic you control, the more power you will hold in the future. Look at Neil Patel, co-founder of Neil Patel Digital. When he bought the KISSmetrics website for US$500,000, they had over a million unique visitors a month. The moment he merged it into the NeilPatel.com site, he increased his lead count by 19%, and recuperated his investment in less than a year. In other words, now is your opportunity to capture market share.

While the coronavirus pandemic presents business risks in some areas, it also offers opportunities in others. As a marketer or entrepreneur, the key is to acknowledge the potential threats while exploring the possibilities.

Source: Entrepreneur India 24 May,20202