Strategic Consultant
In the banking sector, I encountered unforgettable names and stories, each reflecting people's lives. Quirky names like Boroline Bibi and Sheikh Boroplus, and peculiar expressions became part of everyday life. Meeting customers in rural branches showed me the real India, facing prejudices and hardship but also resilience and hope. Names are more than identifiers; they are stories and burdens, shaping a larger narrative of culture and humanity.
In recent years, global attention has turned to economic inequality, focusing on its impact on advanced and developing economies. While wealth redistribution has sparked debate, evidence suggests that effectively managing inequality can lead to sustained economic growth. This challenges traditional assumptions and emphasises the need for balanced policies that address short-term poverty alleviation and long-term growth.
In today's digital age, our lives are intricately woven into the digital fabric, with memories and essential information stored on devices. World Backup Day, observed annually on March 31st, serves as a reminder to protect our digital assets. Data loss can be devastating, so implementing a robust backup strategy is crucial. Evaluation of current backup methods and automation of regular backups are key steps. By embracing proactive backup practices, individuals and organizations can empower themselves with digital resilience, ensuring the safety and accessibility of their digital lives.
In the realm of project management, delays can disrupt schedules, inflate budgets, and strain relationships. Project delay refers to unplanned deferment due to various reasons, leading to tasks not being completed on time. Causes include inadequate planning, scope creep, resource constraints, and technical challenges. Delays can result in financial implications, reputation damage, and reduced quality. Effective communication, comprehensive planning, agile methodologies, and proactive risk management are crucial in avoiding delays.
The increasing demand for convenient, secure, and rapid transactions has driven the widespread adoption of digital payments such as card payments and e-wallets. Two-thirds of adults globally are now engaging in digital payments, with significant growth in developing nations, particularly in Africa and Asia. Despite the benefits, challenges such as privacy concerns, cybersecurity risks, and exclusion of vulnerable populations need to be addressed for a smooth transition to a digital economy.
The importance, of being correct and precise, is often highlighted in tasks and projects. However, an experience from a rural bank reveals that consistency, ensured uniformity and reliability, can sometimes outweigh accuracy. Both are pivotal in different contexts, like in software interfaces, record-keeping, and banking. Yet, depending on the situation, one could be more important than the other - consistency helps prevent errors and confusion, while inaccuracy can lead to significant losses.
Target-oriented or impact-oriented programmes refer to initiatives that are designed to achieve specific objectives or outcomes. These programmes are typically developed with a clear understanding of the desired results and the steps necessary to achieve them. The effectiveness of target-oriented or impact-oriented programmes is often measured by their ability to achieve their stated objectives and produce tangible results. As such, careful planning and monitoring are essential to ensure that these programmes are successful in achieving their intended outcomes.
Frank Knight, an economist, formalised a distinction between risk and uncertainty in his 1921 book, Risk, Uncertainty, and Profit. In his classic book, Knight introduced a distinction between measurable uncertainty, which he called “risk,” and “true uncertainty,” which cannot “by any method be reduced to an objective, quantitatively determined probability.”
In today's digital era, easy access to information and constant connectivity through smartphones blurs the line between work and personal life. France's "right to disconnect" law aims to address this issue, but implementing similar laws in developing countries faces challenges. Research shows the impact of email on well-being and productivity, emphasizing the need for balance in digital work culture.
Indrajit Roy Choudhury 