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HR Concept for the Day- Optimism Bias

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Optimism bias (also known as unrealistic or comparative optimism) is a cognitive bias that causes a person to believe that they are at a lesser risk of experiencing a negative event compared to others. Optimism bias is quite common and transcends gender, race, nationality and age. Four factors exist that causes a person to be optimistically biased: their desired end state, their cognitive mechanisms, the information they have about themselves versus others, and overall mood. The optimism bias is seen in a number of situations. For example: people believing that they are less at risk of being a crime victim, smokers believing that they are less likely to contract lung cancer or disease than others smokers, first time bungee jumpers believing that they are less at risk of an injury than other jumpers, or traders who are think they are less exposed to losses in the markets. Although the optimism bias occurs for both positive events, such as believing oneself to be more fina...
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Rethink, Renew & Relunch HR in the New Abnormal

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As we rethink, re-haul and renew HR practices in the new world of work, the HR community will have to review people practices keeping the post- COVID- 19 situation in perspecting.   “There is no going back and there will be a new normal!” During this COVID-19, how it was impacting everyone globally and immediate concern was the well-being of employees and continuity of business. A three – pronged approach was adopted to ensure business continuity, boost employee morale and ensure employee well – being. Pre & During the Lockdown- Tool set- Ensure work continuity by providing requisite support, infrastructure and resources for employee to be productive, especially as they adopt the “new ways of remote working”. IT infra enablement, virtual working, informative sessions on MS teams were all part of the plan.   Skill set- The focused on creating a virtual learning environment so that one could learn, engage, be aware, and be appreciated. Hence, LEAP (Learn, eng...
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Venezuelan Crisis : What went wrong with the no.1 Oil reserver in the world?

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At present Venezuela has the largest oil reserve capacity I.e 303 billion barrel oil reserve 18% of the total world’s oil reserve. There was a time when Venezuela was considered as one of the top 20 richest countries in the world. So what happened then? Why at present time it is among top 20 poorest countries in the world? In 1999, Hugo Chavez became the president of Venezuela who was very kind hearted person and mostly focused on social welfare. From 1999 oil prices started rising and went up to $100 per barrel. Oil was the main source of income for Venezuela. Their 95% revenue was from the oil business.   Most of the revenue from the oil was used by the government in social welfare programmes. When they faced any crunch of money, they used to borrow it from Russia and China. As they were earning huge revenue from oil business, they didn’t face any difficulties in importing. In return China took oil less than the market price from Venezuela. In 2013, after the death of Hugo C...
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Reason behind success of Netflix

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Netflix is an American media company founded by Marc Randolph and Reed Hastings on august 29, 1997. Currently they have company valuation of $194 Billion which has surpassed Disney (whose net worth is $184 Billion down from nearly $258 Billion) as the most valued media company in the world. Basically they provide 3 type of content…     Licensed 2 nd run: It means the movie which is already released, they buy the online streaming rights.     Licensed original: it talks about the movies that are produced by another studio; they have to acquire the distribution rights and release it online.     Self produced original: They are in all like, from production of movies and shows to distribution. They segment the audience psychographically and target mostly to the working professionals. The most important thing is they don’t have Ads which is frustrating for the audience while watching a show. So it overall gives a hassle free services t...
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Harshad Mehta Scam : Explained...

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Harshad Mehta Scam  is considered as one of the biggest stock market scams in the world. The amount involved in the scam was around Rs.5000 crores . It is also known as The  1992 Indian Stock Market Scam. This scam was basically carried through Ready Forward Deal . Here, the banks issued loan from the other bank by keeping their Govt. securities as mortgage. And within the decided time period they repay the money and get back their securities. Thus, the Govt. securities were used by banks to get short term loans. The securities were usually sold and purchased through Receipts by banks. In ready forward deals, the broker acts as the mediator for buying and selling of securities. Harshad was also a broker and use to do this business. There were some loopholes in the RF deal, which Harsad Mehta knew very well.   And he started using those loopholes to do the fraud. So, what happened is…. Suppose there are 3 Banks A, B, C When Bank A wants to sell the securities, H...
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Location: Bhubaneswar, Odisha, India
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What went wrong with Cadbury BYTES?

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Being a 90’s kid we all know about a product called BYTES. If you don’t know then let me tell you What is BYTES? BYTES is a sweet snack, which is a bite sized snack with a crunchy wafer and rich Choco cream filling. It was launched by Cadbury in 2004. The product was most loved by all the kids of that era, but the company had to stop the production of this product. Here the question arises “why”? Well it's very interesting to know that, this product didn’t had any competitors and it was segmented as well as targeted to kids & teenagers. The product used to be loved by the kids. Though in those time people used to pay Rs.5 per packet and the quantity we use get was very low still,   we never hesitated to buy it. You will also be amazed know that people has made a partition page where they asked people to collaborate and sign to get this product back in market. So the answer to it starts when Kraft food took over Cadbury in 2 nd February 2010. When Kraft food bought ...
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2008:The Financial crisis Explained...

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The 2008 financial crisis also known as  Sub-Prime crisis ,  Global financial crisis  was the worst ever crisis after the  Great Depression of 1929 . The impact of the crisis had affected the whole world. Many big companies like  Lehman Brothers  collapsed due to the crisis.  In the year 2001 the interest rates went down to 1% and due to the implications of dot com bubble burst the share prices were continuously falling in the stock market, which discouraged the investors to park their funds in banks as well as to invest in stock market. At that time real estate sector was doing extremely well, and The U.S Govt. was also encouraging the people to buy houses and properties. As the interest rates were low, people started buying the houses by financing through loan from banks. Due to increasing demand of houses, the prices kept on rising and  thus attracting more investors to invest their funds.  Investment banks  were largely attracted see...
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