I recently participated in a tender process which culminated in a Reverse Auction. It was an insightful experience for me and hence I thought of sharing here. For the uninitiated, Government departments or Public Sector Undertakings (PSUs) award contracts via tendering process. The bidders are evaluated on the basis of total value (i.e. Technical + Commercial)... Continue Reading →
Dynamic pricing strategies have matured to next level over the last few years, thanks to real-time data and analytics. I use Uber everyday, so I have seen over a long duration how they exploit dynamic pricing. Few of my observations were confirmed while reading multiple articles. I read recently an article that mentioned that Uber... Continue Reading →
The "Golden Rules" of accounting, also known as the "Three Golden Rules," are fundamental principles that govern the process of recording financial transactions in double-entry bookkeeping. Debit the Receiver, Credit the Giver:This rule applies to personal accounts. When you receive something, you debit the account, and when you give something, you credit the account. For... Continue Reading →
After the recent collapse of the Silicon Valley Bank, US and domino effect that has started in the US and the world, a lot of messages have been floating on Social Media. I received one such message with a clip from "3 Stooges", which is actually the subject of this post. The quote and video... Continue Reading →
A violinist played for 45 minutes in the Washington D.C. subway. Of the 1,097 people who passed by, seven stopped to listen to him, and one recognized him. He collected $32.17 in tips from 27 passersby (excluding $20 from the one who recognized him). Only one person knew this, but the violinist was Joshua Bell,... Continue Reading →
During a robbery in Zimbabwe, the bank robber shouted to everyone in the bank: "Don't move. The money belongs to the State. Your life belongs to you." Everyone in the bank laid down quietly. This is called "Mind Changing Concept” Changing the conventional way of thinking. When a lady lay on the table provocatively, the... Continue Reading →
As part of my MBA I studied Zero Based Budgeting (ZBB) in Cost and Management Accounting course. I liked the concept a lot! In simple words the ZBB idea is as follows: Our budgeting exercise is usually incremental in nature. We take this year's budget as a baseline and think about incremental budget required for... Continue Reading →
I am not an HR guy. I have never aspired to be. However, I did enjoy the HR related courses during my MBA and really liked the Professors who conducted them. I myself had to use different aspects of HR for various training/courses I have conducted. One of the topic that always interests me is... Continue Reading →
Today in 1995: Internet services were launched in India by Videsh Sanchar Nigam Limited. The rate chart: Average cost of 1GB of mobile data in the world 2019: India is 1st @ $0.26 per GB, in comparison, Canada $12.02, USA $12.37
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