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UPSHOT From Coffee Fields to Cloud Forests: Manizales’ Enchanting Beauty CASE STUDY How did Walmart become a powerhouse in the retail industry?
YEIDY
RAMÍREZ CEO
ARTICLE Savings Challenge: Understanding the 100 Envelope Method
BREAKING THE BARRIERS AND REDEFINING LEADERSHIP IN THE FINANCE INDUSTRY
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From Editor’s Desk
W
omen in finance are reshaping the industry, bringing a fresh perspective and breaking traditional norms. Their increasing presence is challenging stereotypes and fostering a more inclusive and diverse financial landscape. As trailblazers in leadership roles, women are driving innovation, promoting ethical practices, and influencing decision-making. The transformative impact of women in finance goes beyond gender balance; it enhances the industry's adaptability, creativity, and overall effectiveness. With each success, women are not only changing the narrative but also inspiring future generations, contributing significantly to a more dynamic and equitable financial sector. Featuring for The Enterprise World’s this issue of The Most Iconic Women Leaders in Finance Industry - 2023 are the stories of such iconic women in the industry. For the cover read about At the helm of Dexter, Yeidy Ramírez consistently emphasizes that within a wellestablished and mature organization, there exists a central or core department. It consists of the Risk Analysis Department, which plays a pivotal role in assisting the presidency, vicepresidency, and the overall executive management in avoiding errors. Dexter boasts a highly skilled team, equipped with cutting-edge, innovative programs and databases, particularly in the realm of compliance, ensuring sound decision-making. The enduring dedication of Dexter has been to communication, marketing, and advertising. Yeidy believes that transparency is a fundamental concept for any organization that is in a competitive market in the 21st century. This transparency must be applied outside the walls (towards public opinion, towards stakeholders, towards clients) and equally within. She elaborates, “I think that to maintain alignment in your organization, and in a professional area as sensitive as ours, communication and control are very important in your team, and maintaining as a common thread a principle that for me is capital: that of loyalty.”
Shalmali Shalmali W.
The Enterprise World, High Street North, East Ham, England GB
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This list is NOT a ranking. The companies on listed in magazine serve different aspects of the market, making ranking them in any order except revenue impossible and unfair. We try to bring a perfect platform for business organization to showcase their valued products/ services. Copyrights © The Enterprise World | 2019. All Rights Reserved. The images and content included in this magazine should not be copied, transferred or reproduced in any form or by any means, electronics, mechanical, photocopying, recording, otherwise, without proper permission from The Enterprise World. The Enterprise World solely owns all the reprint rights.
At the helm of Dexter, Yeidy Ramírez consistently emphasizes that within a well-established and mature organization, there exists a central or core department. It consists of the Risk Analysis Department, which plays a pivotal role in assisting the presidency, vice-presidency, and the overall executive management in avoiding errors. Dexter boasts a highly skilled team, equipped with cuttingedge, innovative programs and databases, particularly in the realm of compliance, ensuring sound decision-making. The enduring dedication of Dexter has been to communication, marketing, and advertising. Yeidy believes that transparency is a fundamental concept for any organization that is in a competitive market in the 21st century. This transparency must be applied outside the walls (towards public opinion, towards stakeholders, towards clients) and equally within. She elaborates, “I think that to maintain alignment in your organization, and in a professional area as sensitive as ours, communication and control are very important in your team, and maintaining as a common thread a principle that for me is capital: that of loyalty.”
LEADERS IN SPOTLIGHT
For the cover read about -
CONTENTS
12
Yeidy Ramírez
From Coffee Fields to Cloud Forests: Manizales’ Enchanting Beauty
UPSHOT
22
How did Walmart become a CASE STUDY powerhouse in the retail industry?
38 Review
Asana
Savings Challenge: Understanding the 100 Envelope Method
32 Article
46
NEWS Amazon Shuts Down Amazon Style Clothing Stores in Ongoing Retail Evolution READ MORE
Leaked ChatGPT Update Unveils Exciting Features READ MORE
As OpenAI gears up for its inaugural developer conference, a substantial ChatGPT update has been inadvertently unveiled to the public. Leaked information, as reported by The Decoder, includes screenshots and videos showcasing a customized chatbot creator empowered by the advanced capabilities of GPT-4. These newfound features range from web browsing to data analysis, promising an enhanced conversational experience. Additionally, OpenAI appears set to introduce a novel marketplace where users can share their self-designed chatbots or explore those created by others. This revelation was initially brought to the forefront by a user named Choi, who shared a summary of the rumored updates a few days ago. The excitement escalated when SEO tools developer Tibor Blaho shared a video illustrating the user interface in action. Within the video, a “GPT Builder” option becomes evident, enabling users to input prompts to generate a chatbot. The example provided reads, “create a chatbot who helps generate visuals for new products.”
Amazon is set to close its two Amazon Style clothing stores by November 9th, marking the latest shift in the company’s evolving retail strategy. This decision follows a series of moves to streamline its physical retail operations, including the closure of all 68 of its Books, 4-Star, and Pop Up locations, as well as eight of its Amazon Go convenience stores. Amazon has been recalibrating its approach to physical stores to focus on its growing online fashion shopping experience and enhancing customer satisfaction with innovative technology. The Short-lived Journey of Amazon Style The journey of Amazon Style clothing stores was disappointingly short-lived. The first Style store was launched in Los Angeles, California, in May 2022, with the promise of providing customers a “personalized and convenient shopping experience” while contributing to local job creation. A second location opened its doors in Columbus, Ohio, in October 2022. However, the company recently made the difficult decision to cease operations of these stores.
Tesla Model 3 Highland Spotted Uncovered in the US: Awaited US Launch Raises Questions READ MORE
In a surprising turn of events, a Tesla Model 3 “Highland” was recently sighted being tested without any camouflage on the roads of the United States. This unusual sight revealed the car’s front and rear bumpers, providing a sneak peek of what American customers can expect from Tesla in the near future. The Model 3 Highland has already been introduced in various global markets, including Asia, Europe, and parts of the Middle East. However, it has yet to reach the hands of eager customers in the United States. Regulatory Hurdles and On-Road Testing Speculation is rife that Tesla might be facing regulatory hurdles, particularly from the Environmental Protection Agency (EPA) and the National Highway Traffic Safety Administration (NHTSA), before they can officially launch the Model 3 Highland in the US. The automaker’s decision to conduct on-road testing of the vehicle hints at the meticulous evaluation it is undergoing before hitting American streets. This approach echoes the company’s strategy with previous releases, such as the highly anticipated Cybertruck. The spotted Model 3 Highland was captured on Highway 280 in California, nestled between the bustling cities of San Francisco and San Jose. Notably, it was equipped with manufacturer plates, confirming that this was indeed Tesla testing the vehicle. Furthermore, the vehicle’s design appeared consistent with its Eastern Hemisphere counterpart, indicating that the global model will remain largely unchanged for the US market.
12 | November 2023
COVER STORY
YEIDY
RAMÍREZ Breaking the Barriers and Redening Leadership in the Finance Industry CEO
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T
he finance industry holds critical importance in the global economy and in society at large due to resource allocation, wealth creation, risk management, etc. The eminence of financial leaders goes beyond personal success or the companies they lead. Their influence on policy creation, job allocation, and philanthropic efforts showcase their unraveling commitment to betterment of the society and leave a far-reaching impact on the world economy. Yeidy Ramírez (CEO of Dexter Global Finance ) is an exemplary woman who has risen to the top by breaking through the glass ceiling of the male-
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dominated finance industry. Her achievement as “The Most Iconic Women Leaders in Finance Industry 2023” throws a spotlight on her remarkable journey as a leader and her contribution to this ever-evolving finance industry. Alternative Financing with Private Capital Dexter is a financial management and intermediation company, primarily focused on alternative financing with private capital. The company manages and represents over fifty investment funds, debt funds, and private equity firms. It primarily supports growing
companies as well as firms undergoing internal restructuring and aids in their revitalization. When Dexter was established, financial intermediation had a low level of professionalization in Spain, unlike other European countries like Germany, the United Kingdom, and, of course, the United States. Dexter Global Finance manages over fifty investment funds, debt funds, and private equity. It focuses on providing financing exclusively to companies, not individuals. Dexter prioritizes rigor, transparency, security, and solvency. The company has a skilled
COVER STORY team of experienced executives and professionals in their field. It has provided a very robust corporate structure to a sector in which this was not a common feature. Factors that Triggered the Growth Dexter experienced a few moments during its journey that triggered its growth. The company constantly views the market through the lens of anticipation—being the first to detect market shifts, identify new niches, and seize new business opportunities. This proactive approach allows the company to explore and establish a footing in areas that competitors might only venture into later.
While operating in a sector characterized by discretion and, at times, strict confidentiality, Dexter's journey over the last five years exhibits unstoppable growth. The volume of its operations has tripled, and the financial yield of each operation has significantly amplified. Its current client portfolio not only boasts larger numbers but also reflects enhanced quality and strength. It is genuinely pleased with the robustness and swiftness of its territorial expansion. Building Loyalty and Utilizing Talent The essence of the success of Dexter is encapsulated in its continual efforts to
attract, align, retain, and foster talent, ensuring it resonates with the vision of the company. It focuses on building loyalty and utilizing talent for growth—both in turnover and brand value. These things play a major role in the long-standing success of the company as it emphasizes them particularly. To foster competitiveness, it is imperative to harbor colossal ambition, clear ethical boundaries, and both individual and collective responsibility. Dexter offers a wide range of services to its customers that are different from its competitors. The company
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COVER STORY offers a wide range of financial products, mainly focusing on two types: mortgagebacked loans and corporate-backed loans. The former largely caters to real estate financing across all sectors (commercial, residential, logistic, hotel, industrial), while the latter targets medium and largesized companies. The broad spectrum of options differentiates the company from its competitors, who offer a narrow or limited range. This wide array ensures that the solutions offered by Dexter are the most personalized, effectively catering to the real needs of clients. A Pioneering Entity The private equity financial industry in Spain has evolved from a period of limited professionalization to a more advanced stage, where Dexter notably emerged as a pioneering entity. The company navigated through market transitions and took the helm in catalyzing a shift towards refined professional and corporate structures dedicated to private capital financing. Initially, only a few corporations provided a genuine and high-quality alternative to regular bank financing. This landscape cultivated a prime environment for Dexter to not only adapt to market metamorphoses but also spearhead crucial changes. These changes prominently included leading the orchestration of new professional and corporate architectures that facilitate private capital financing. The proactive stance of the company has set it apart and positioned it as a trendsetter in enhancing the professionalism and quality of financial offerings in the private equity sector within Spain. Promoting M&A Services Dexter is following a twofold path by expanding its services in the future. First, it aims to broaden and deepen its current product and service offerings. Secondly, it aspires to identify market needs and fulfill them. Currently, the company is
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vigorously promoting its M&A services, with a dedicated Dexter Committee orchestrating mergers, acquisitions, and restructuring operations from strategic, legal, accounting, and consulting angles. Its spirit in new product and service creation remains constant to provide added value. Dexter has a distinctive corporate image and a unique identity in the market. However, a cornerstone of its growth lies in collaboration, cooperation, and the cultivation of synergies with prominent third-party companies in Spain, spanning various sectors. Through these partnerships, the company has established a growth ecosystem that attracts a larger clientele and expands the service network of Dexter continuously. Highly-Skilled Team At the helm of Dexter, Yeidy consistently emphasizes that within a well-established and mature organization, there exists a central or core department. It consists of the Risk Analysis Department, which plays a pivotal role in assisting the presidency, vice-presidency, and the overall executive management in avoiding errors. Dexter boasts a highly skilled team, equipped with cutting-edge, innovative programs and databases, particularly in the realm of compliance, ensuring sound decisionmaking. The enduring dedication of Dexter has been to communication, marketing, and advertising. Yeidy believes that transparency is a fundamental concept for any organization that is in a competitive market in the 21st century. This transparency must be applied outside the walls (towards public opinion, towards stakeholders, towards clients) and equally within. She elaborates, “I think that to maintain alignment in your organization, and in a professional area as sensitive as ours, communication and control are very important in your team, and maintaining as a common thread a principle that for me is capital: that of loyalty.”
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Yeidy looks after her employees and plays a crucial role in building a strong team at work. According to her, the best way to encourage and commit executives of the company and the entire staff to the mission is to lead by example. She adds, “If they see in you as a leader that desires for progress, for improvement, if they respect you with clarity of ideas, dedication, and perseverance, permanent effort, it ends up being internalized, imitated by everyone. I think, without a doubt, that a compact and united team is unbeatable.” A Dedicated Department for New Technologies Various trends and technical aspects are driving today's finance industry.
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With modesty, Yeidy underlines that Dexter is a pioneer in contributing to these financial trends and leaving a significant impact on the industry. It is the first company in the alternative financing sector to have a dedicated department for New Technologies, Artificial Intelligence, and Robotics, led by an independent director. The company focuses more on the present than the future. The financial sector already has a very strong link with the technological world and that bond will be indissoluble. Therefore, it works with the most advanced and soughtafter tools and programs on the market. Dexter has been preparing for this challenge for years and it approaches them with strengths and advantages over the competition.
A Vocation to Grow Speaking about a leadership philosophy, Yeidy thinks that it is an overused concept in recent times. She says, “I think an entrepreneur, in essence, has to have a vocation to grow, to innovate, to explore and open new paths that others will then follow. You should not be averse to risk or conformity. And, above all, you must have great confidence and security in yourself and in the most important people who accompany you on your path.” Yeidy has been trained as an engineer. However, she felt deeply attracted to the company when she was just 20 years old. In various productive sectors, she has been employed as a
STORY COVER www.theenterpriseworld.com | 19
COVER STORY senior manager and owner. In Sweden, Yeidy has run her own company with hundreds of employees. More than 20 years ago, she moved with her family to Spain, to the capital of the Costa del Sol, Marbella, and began her career in the financial sector. Initially, she ran her own investment fund with transcontinental operations, maintaining a strong connection to London. For five years now, she has been the CEO and founder of Dexter Global Finance, a financial management and Intermediation Company, a leader in private equity in Spain. Financial Value to the Society As there are many ways to make money in significant amounts and numerous productive sectors with powerful profit margins, Yeidy advises budding entrepreneurs to think about what financial value they can contribute to society. She adds, “If you enter the financial sector, beyond the ability to generate impressive numbers for your company, think about the service you provide to society.” The role of the entrepreneur is essential. While governments and administrations may not always be cooperative, financial corporations can be the exception. Therefore, Yeidy believes that those who lead the main firms ultimately have a certain inclination towards the service that is provided to the community.
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Introduction They say this is the "City among the Clouds," and once you are there, you will understand why. Its lofty location is nothing short of mesmerizing. But what makes this place truly special is the vibrant culture and rich history that have shaped its unique identity. Today we are going to take a look at the city of Manizales. A city in Colombia's Andes Mountains. Close your eyes and imagine yourself standing at an extraordinary elevation of roughly 2,160 meters (7,086 feet) above sea level, surrounded by stunning vistas that seem to go on forever. This is not an ordinary city; it is filled with South American beauty yet to be discovered. As you explore this city, you will find it's more than just a city; it's a fascinating blend of metropolitan modernism and natural beauty. It is not only the Caldas department's capital but also one of the important cities in the Coffee Triangle, an area known for producing some of the world's best coffee beans. So you can be sure your morning cup of joy will taste extra wonderful here! This is only the tip of the iceberg. In the following parts, we are going to look more into the city’s rich history, involve ourselves in its lively culture, explore its gorgeous scenery, and find the numerous reasons why you must visit the city you won't want to miss out on everything this city has to offer. Why You Must Visit Manizales? •
A City in the Clouds
Let’s have an imaginary tour of the place where all wanderlust souls want to visit at least once in their lifetime. Here are some highlighted points that all tourists should know about this Colombian beauty. There are many
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Why You Must Visit
MANIZALES? cities in the world offering you the best experience of the place to be on earth. But, this city has its own way of taking you to the cloud number 9. Being the heart of Colombia, Manizales greets them with open arms and a wide smile. Now, picture this: Manizales sits way up in the Andes Mountains, at a jaw-dropping altitude of 7,000 feet above sea level. That's almost like living among the clouds! As you climb higher into the city, you will feel like you're ascending into the heavens. The air gets cooler, and the vistas become even more breathtaking. On top of that, sipping the finest blend of coffee in the morning while gazing out over an ocean of clouds. The higher you go, the more the landscape unfolds before you, like a magnificent painting coming to life. This town truly is a place where you can experience the world from a different perspective, and it's an adventure you won't want to miss. •
Micro-climate
Manizales, a lovely city high in Colombia's Andes Mountains, boasts a special microclimate. A place where it feels like spring all year round! With temperatures averaging 68-73°F, it's never too hot or too cold. Rainfall is frequent, making the hills green and the coffee tasty. Fog and mist often hug the city, creating a heavenly atmosphere.
•
Nature's Masterpiece
In the heart of this vibrant city lies the captivating Nevada del Ruiz volcano, a symbol of nature's awe-inspiring beauty and power. Its majestic snow-capped peak, often veiled in a gentle mist, draws both locals and visitors into its spellbinding presence. Access to the volcano may sometimes be restricted due to safety concerns related to volcanic activity, emphasizing the importance of prioritizing everyone's safety. •
The City of Open Doors
Whoever visited this city started calling it a "City of Open Doors" because people in this city are known for their warm hospitality. It's like visiting a close friend who can't wait to show you their favorite places. This makes not just a city but also a place with open hearts and doors. •
Savouring Manizales: A Gastronomic Delights
In Manizales, you're in for a treat with Colombian cuisine. Don't miss the local favorite, "bandeja paisa," a hearty dish with beans, rice, meat, and plantains. The city's street food scene is a bustling hub of flavor, offering tasty delights like empanadas, arepas, and much more. From hearty stews to savory snacks, Manizales has something for every palate. So, prepare your taste buds for a gastronomic journey through this delightful city, where every meal is a chance to savor the essence of Colombian cuisine.
"City among the Clouds,”
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January Delights in Manizales: Feria de Manizales
•
If you're lucky enough to visit Manizales in January, mark your calendar for the Feria de Manizales. This vibrant festival is one of Colombia's liveliest and most exciting.
Nice Park: In Parque Caldas, you can walk around, feed the pigeons, and enjoy being outside. It's a calm place to take a break.
•
Nature Escape: El Recinto del Pensamiento is a peaceful spot with gardens, butterflies, and birds. It's a quiet place to be with nature.
•
Lasting a whole week, the celebration fills the city with parades, concerts, bullfights, and traditional Colombian dances. It's a colorful and lively experience that showcases the heart and soul of Colombian culture. From the rhythmic beats of traditional music to the dazzling parade floats, the Feria de Manizales immerses you in a whirlwind of sights and sounds. It's a chance to join in the joyful spirit of the city and witness the rich traditions that make Colombia special.
Where to Go? What to Do? Explore Manizales! Here are some of the top tourist attractions: •
Pretty Church: There's a beautiful church called the Cathedral Basilica of Our Lady of the Rosary. It looks like a big, fancy castle with colorful windows. You can visit it and take pictures.
•
Cable Car Ride: You can take a ride in a special car that goes high up in the air. From there, you can see the whole city and the tall mountains around it.
•
Nature Park: In a place called Los Yarumos Ecopark, you can go for walks in the forest and see butterflies and pretty flowers. It's like a big garden in the mountains.
•
Coffee Farms: In this city, they make really good coffee. You can visit farms where they grow coffee, learn how they do it, and taste yummy coffee.
•
Gold Museum: There's a museum where you can see shiny gold ancient things. It's like going back in time and looking at treasure.
•
Big Square: There's a big open area in the middle of the city called Plaza de Bolívar. People go there to sit, eat ice cream, and watch the world go by.
•
Hot Springs: Nearby this city, there are warm pools where you can relax in the water. It's like a big, cozy bath in the middle of the mountains.
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From Point A to zZZ: Transportation and Accommodation in the City In this chapter, you’ll get to know how you can reach and what the accommodation options for staying in this magical city are. From Air to Rail: Getting to Manizales is an exciting journey, whether you're a tourist looking to explore its beauty or a researcher interested in its unique microclimate and culture. To reach this charming destination, you have few options. The most common way is to fly into La Nubia Airport, which serves domestic flights from Bogotá, Medellín, and other major cities in Colombia. From the airport, you can easily take a taxi or a shuttle service to reach the city center, which is about a 20-minute drive away.
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Roadway to Manizales: If you prefer to travel by road, you can take a bus from major Colombian cities like Bogotá, Medellin, or Pereira. The journey is not only scenic but also offers a chance to witness the breathtaking landscapes of the Andes Mountains. The bus terminal in this city is well-connected to the city, making it convenient for travelers. Another option is taking the cable car, known as the "Teleférico," from the outskirts of the city, which offers stunning aerial views as you descend into this Colombian beauty. The Best Places to Stay in Manizales for Every Budget •
Luxury Retreats: Now, let's talk about where to stay in this town. The city offers a range of accommodation options to suit various budgets and preferences. If you're looking for a taste of local hospitality and culture, consider staying in one of the charming boutique hotels or guesthouses in the city center.
These accommodations often provide a cozy and authentic experience, allowing you to immerse yourself in the city’s unique atmosphere. For those seeking more upscale lodging, you'll find modern hotels and resorts that offer comfortable amenities, including restaurants, bars, and spa facilities. These options are often conveniently located near popular attractions and business districts. This town has a variety of hotels ranging from budget to luxury. Some popular options include: Hotel Estelar Las Colinas: A luxury hotel with beautiful views of the city. Hotel Varuna: A mid-range option with comfortable rooms and good amenities.
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Hotel Carretero: A budget-friendly choice located in the city center. •
Budget-Friendly Stays: This beautiful town also has options for budget-conscious travelers, with hostels and guesthouses offering affordable rates without compromising on comfort. These places are great for backpackers and those who want to stretch their travel budget while enjoying a comfortable stay.
If you are conducting research in Manizales, you might consider accommodations near the city's educational institutions, like the University of Caldas or the National University of Colombia, Manizales campus. Many researchers find it convenient to stay in universityaffiliated guesthouses or apartments, which can provide a conducive environment for academic work. Hostels: If you're looking for budgetfriendly options and a chance to meet other travelers, hostels are a great choice, you can refer few of them as follows: Hostal de La Montaña: A cozy hostel with dormitories and private rooms. Hostal Kaleidoscopio: This place is known for its friendly staff and vibrant atmosphere. Mountain Hostel: Offers a mix of dormitory and private rooms with a social atmosphere. Conclusion In short, Manizales is a special city high in the mountains of Colombia. It's famous for its coffee, beautiful views, and friendly people. You can explore museums, enjoy festivals, and try delicious food. Even though it's not as famous as some other places,
Manizales is like a hidden treasure waiting to be discovered. So, if you want to experience the beauty of nature and the warmth of Colombian culture, Manizales is a great place to visit. It's a little piece of paradise in the clouds!
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PRODUCT REVIEW
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● Establishment Year: 2008 ● Founder: Dustin Moskovitz ● Headquartered: San Francisco, America ● No. of Employees: 1,782 ● Website: www.asana.com OVERVIEW: Asana is a project management tool that helps to increase work productivity and the quality of work. This tool can be used in multiple sectors like marketing, IT, operations, and sales. They offer several key features in their products like setting goals, checking the workload, scheduling tasks on the calendar, and helping to build a workow. It can be used to build efciency in the work and save precious time. Moreover, they have given a demo on their website on how it works. It helps in project coordination that nishes the same without any hassles. It has a cloud-based platform, that helps to access projects from anywhere in the world. It knows the importance it holds as the need for digital facilities keeps on increasing.
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Pros and Cons: Pros
Cons
Task tracking
Needs a considerable internet speed
Efficient work management
Technical glitches that disturb the hierarchy
Manage work on a single dashboard
No cloud storage facility
gives a basic idea about the usage and the feel of it. It is designed such that users get to know about the project management tool and get the hang of it. Storage of 100MB per file is given to the users to keep important files stored.
Core features of Asana: Asana allows you to align your team's goals with AI. Here are some features of Asana: Ÿ
You can create automated processes for easier coordination between teams.
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You can set strategic goals and track goals accordingly.
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Various forms are available to submit and manage work requests in one place.
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The workload feature offers the tracking of how much workload is shared across various teams present in the organization.
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The board feature offers to select an option from the three existing ones in there.
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Whether a task is done, in process, or instructing someone to do it, it can be handled via this software tool. It offers an easy and confusion-free way to communicate with each other.
Asana Plans: Ÿ
Basic plan: The basic plan is a free plan. It offers some services free of cost which gives a glimpse of their tool. It helps the user to know about the whereabouts of various features and how to use the tool. The tool
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Ÿ
Premium plan: The premium plan includes everything in the basic plan, plus additional benefits. Like workflow builder, unlimited number of free guests, templates of tasks to increase productivity, and admin console to control and manage operations easily. Smallscale and medium-sized organizations are the ones who use this one as it is made while keeping them as a target group.
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Business plan: Similar to the premium plan, the business plan includes everything that is in the premium plan, with more additional features to make work-life easier than ever before. Organizations that have multiple departments and their seniors who work on a multi-task basis prefer these tools. It gives productive outputs with increasing efficiency and efficacy too.
Customer Reviews: Be it a small-scale or a large-scale business unit, all of them are in favor of using Asana. People have said that it brings ease into their lives and has
increased their quality of work. Customers have accepted the tool. A lot of positive responses have made the tool quite popular. Let's have a look at some of the reviews: Ÿ
A useful management tool for demanding organizations: The tool helped me to organize the team's tasks comprehensively. It allowed them to be more effective and efficient. The reason for choosing Asana was the features it avails and the ease of using them. Also due to the characteristics and structure of the team, Asana was my go-to tool. The organization needed a tool that had more options to change the way the projects were organized and the way different tools could be integrated.
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Break any flow into manageable tasks: A reliable project management tool with dynamic functionalities and automation tools that can help organize projects, view sections, create new tasks, and collaborate with others via messages and this will certainly help productivity and excellence at work. With a few clicks, you can manage any workload with ease. Also, we like the lightning speed of Asana when creating new tasks, milestones, and projects. We can easily duplicate and add our custom fields and forms.
PRODUCT REVIEW
FAQ's:
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You can then add a description for your team
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Log into your account using any of your email addresses.
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Add members
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Choose the team's privacy settings
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Click Create team
Get invitations from other people to join their workspace or organization using any of your email addresses.
1. How to start using Asana? A detailed video has been uploaded on the website to help beginner users. Each feature is explained and the benefits it offers are explained too. 2. How to create a team on Asana? To create a team via the admin console:
3. How to add/remove email notifications? Add an email address
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From your admin console, navigate to Teams on the sidebar
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You can add multiple email addresses to your Asana account.
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Click on the Create Team button in the top-right corner
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Have additional options for emailing tasks to Asana.
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A Create New Team popup window will ask you to add your team's name
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Have additional options for receiving email notifications.
Remove an email address You can only remove an email address if you already have more than one email address associated with your account, if you no longer use that email address, or if it belongs to someone else. From the Notifications, under Email notifications scroll down and click Remove Email.
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HOW DID
BECOME A POWERHOUSE IN THE RETAIL INDUSTRY? 38 | November 2023
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Whether it is a party on the weekend or just regular grocery shopping, Walmart is always preferred by U.S. citizens. If you are a tenant living on your own or you have a family to feed, Walmart products are affordable as well as accessible. Though Walmart has become a huge brand in the retail industry, it has faced ups and downs and still stands as the retail powerhouse. Have you ever thought what would have been its journey? What are the marketing strategy techniques that made it a successful company? In this article, you will delve into the basic know-how of Walmart and understand its journey closely. Being a multinational powerhouse in the retailing industry, Walmart is based in the United States of America. Its various department stores focus their services on middle-class and lower-middle-class people. According to Fortune Globe 500, the company stands as the second-largest public corporation in the world. Today, it is one of the most valuable companies in the world that employing more than 2 million people. The organization is based in Bentonville, Arkansas. In 2009, it earned 51 percent of its $258 billion in sales from the U.S. grocery business.
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THE CHRONOLOGICAL ORDER OF ESTABLISHMENT 1945
1945: Sam Walton bought a Franklin franchise variety store, located at Newport. The moment served as a stepping stone for his future retail ventures.
1962
1962: The first official store was inaugurated in Rogers by Sam Walton. It was mainly focused on providing customers with a wide range of products at lower prices.
1969
1969: In this year, the company developed into a publicly traded company, that is listed on the New York Stock Exchange, under the symbol "WMT."
1970
1970s-1980s: The rapid expansion of the company took place across the United States where various stores opened and grew into the dominant force of the retail industry. The company emerged with a new strategy of "Everyday Low Prices" (EDLP) in which efficient customers were targeted and it included dynamic Walmart products.
1983
1983: In Washington, Missouri, the first Supercenter was launched. It combined the concept of the traditional discount store with grocery store along with a traditional discount store which will give a one-stop shopping experience to consumers.
1991
1991: The company started expanding its ventures outside the boundaries of the United States. The first international store was set up in Mexico City, Mexico. The event marked the beginning of its global expansion.
2000
2000s: The company was expanding its business on both domestic as well as international levels. The Walmart Neighbourhood Market was introduced which included smaller grocery-focused stores and emphasized its commitment to satisfy customers at low prices.
2005
2005: The sustainability business program was launched which was aimed at turning the company into the environment-friendly one. Catering to this, several initiatives were commenced incorporating waste reduction, less energy consumption, and promoting sustainable sourcing.
2010
2010s: The focus was shifted to e-commerce and digital innovation to leverage technological upgradation to succeed in the retail industry. The organization started acquiring e-commerce companies like Jet.com and spent on improving online shopping experiences. This is how it stayed ahead of every competitor in the market.
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2020
2020s: Consumer preferences were put forward and expanded into other international markets. The company was targeting organic products to meet its commitment to uplift farmers of the country. It is evolving every day and adapting itself to technological advancements.
MERGERS AND ACQUISITIONS Being a retail giant, Walmart revolutionized the industry with its low-cost business model. It nurtured exceptional customer service along with an extensive product range. Due to prioritizing affordability and convenience, Walmart has become a common household name. Today it is serving millions of customers at the international level and maintaining its position as a leader in the retail industry. Its mergers and acquisition deals have become headlines not just in US newspapers but also in worldwide news. The organization has encountered cultural challenges during acquisitions and mergers that took place in its journey. Due to human resource negligence issues, some of its mergers and acquisitions failed miserably, however, it demonstrated how cultural issues are not considered when international business affairs arrive. For example in the Argentinian Market, the company experienced insensitivity to the culture of Germans, South Koreans, and Latin America. It added to employee demotivation due to which the company became incapable of competing with others.
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Success Strategy Every successful organization builds its unique strategy which gives successful results and creates benchmarks for others to follow. If you want to build your business on the larger platform then read these tactics applied by Sam Walton: 1. Emphasis on low prices: The famous “Everyday Low Prices” strategy emphasizes life-essential products whose prices are kept low to target middle-class and lower-class people. It helped products to gain a wide customer base. The company cracked the budget-conscious shoppers and values their convenience. 2. Large-scale operations: Walmart stores are operated in around 27 countries and its massive scale allows them to negotiate lower prices with suppliers and spread fixed costs across many stores. Such larger-scale operations allowed the company to deal with investors and build trust with them. According to records, its customer experience was enhanced due to deals cracked at higher management levels. 3. Innovation and technology: Being a leader in the retail industry, Walmart was among the first companies that leveraged a cashless payment system, barcoding, etc. With the help of technology, it improved the customer experience and invented new operational techniques. For example, the company has spent heavily in the field of e-commerce and has innovated technologies, such as its automated pickup towers and its use of robots to clean floors and track inventory. 4. Prioritizing employee satisfaction: It is better known as a tough employer in the market, however, the company made efforts to revamp working conditions and enhance employee satisfaction in recent years. In 2019, the company increased its starting wage to $11 per hour and offered
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additional employee social and economic benefits.
Disease Control and Prevention to close retail stores in the area.
5. Strong corporate culture: The strong work culture incorporates efficiency, frugality, and customer service. Sam Walton, founder of the organization known for his hands-on leadership style and commitment to serving customers. He made sure that similar leadership values were passed down to subsequent generations of leaders.
3. Sustainability/ Environmental Issue:
Overall, there are various factors that contributed to the growth and development of Walmart and the company emerged as a giant in the retail industry. Challenges 1. Ethical Issues: Regardless of being the largest private employer worldwide, Walmart has faced ethical issues with respect to gender discrimination, exploitation, and compensation of workers. Moreover, the higher management took a stance against developing worker's unions that could work to improve working conditions. In 2013, National Labor Relations sued the company due to its low wages. It was proved that the company had violated the rights of employees and imposed illegal restrictions. Despite the pressure from employees, it suspended workers who participated in the strikes, which eventually led to employee turnover. 2. COVID-19 Pandemic: Due to the COVID-19 pandemic, more than 60 stores were closed and the Omicron variant disrupted the retail industry. The crisis situation restricted direct contact with customers and limited their access to various retail services. For instance, in Maryland, a store was shut down due to the high emergence of COVID cases among the communities. Soon, it was recommended by The Centers for
According to Food and Water Watch and the Institute, Walmart stores are not following performance standards based on environmental protection. The company ran into the issue of vending substandard products as it reduces the durability and quality of goods. Issues of reduction of waste, lagging behind renewable energy sources, overuse of electricity, etc were the most prominent ones. Today, Walmart has taken a long time goal to operate 100 percent renewable power and leverage technology for sustainable development.
Walmart International People prefer Walmart due to its lower and sustainable products which help them to save money and live better. To bring value and convenience to millions of customers, Walmart International is operating in 19 countries outside the U.S. The unique global perspective of the company builds connections and brings innovations to the market to make customers' lives easier. Moreover, strategic partnerships are built through equity investments to support core businesses. Walmart International is building a strong strategy that includes small and medium businesses and simultaneously generates growth for the company and partners. Ultimately, it leaves a positive impact on stakeholders.
Walmart International includes more than 5,100 retail units and approximately 550,000 associates around the world. Additionally, the products are sold by the Global Sourcing Unit which includes apparel, homeware, jewelry, hardlines, and more throughout the world. The unit is upholding the reputation of the company as the most trusted retailer in the world, by regularly auditing the practices of suppliers and working with them through the Walmart Responsible Sourcing Program to help them meet high standards. FAQs 1. How many Walmart stores are active? Globally, there are 10,500 active Walmart stores and 20 Sam's Clubs US in 27 countries. Before FY2023, the company will be employing 2.1 million associates worldwide.
2. What time Walmart is closing? The closing and opening times of Walmart stores vary according to the area. However, most of them are opening at 7 am and close at 8.30 pm. 3. What is Sam's Club US? An American chain of membership, Sam's Club US is the only retail warehouse club owned and operated by Walmart Inc. It was established in 1983 and named after Sam Walton, founder of Walmart, Sam's Wholesale Club.
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SAVINGS CHALLENG UNDERSTANDING THE 100 ENVELOPE METHOD
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GE:
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S
aving money can sometimes feel like an uphill battle, but a fun approach can change that perception. Enter the 100 envelope challenge, a savings strategy that has caught the attention of many looking to put away a little extra cash. The method is simple engaging, and can lead to significant savings. This article explores how it works and why it’s become so popular. What Is the 100 Envelope Challenge? At its core, the 100 envelope challenge is a systematic way to save money over a specific period, typically 100 days. Participants get 100 envelopes and number them from 1 to 100. Each day, they randomly pick an envelope and deposit the amount corresponding to the number written on it. For instance, if they select envelope number 30, they’ll put $30 into it. The Appeal: Gamifying Savings Understanding the 100 Envelope Challenge | The Enterprise World One of the main reasons the 100envelope method has become a hit is its game-like nature. Instead of viewing savings as a chore, it becomes a daily surprise. You never know how much you’ll save that day until you pick an envelope. This unpredictability adds a fun twist to the otherwise mundane task of saving money. The gamification aspect of this challenge can be a game-changer for individuals who struggle with traditional savings methods. It injects an element of excitement and anticipation into the process, making it more enjoyable and sustainable over time.
can substantially boost an emergency fund, a nice vacation, or even a down payment on a significant purchase. Considering the simplicity of the challenge, the potential returns are impressive. The 100 envelope challenge demonstrates that consistent, small contributions can lead to significant savings over time. It reinforces the idea that even modest daily savings can add to a substantial financial cushion. Adapting the Challenge to Your Needs Understanding the 100 Envelope Challenge | The Enterprise World Not everyone might be comfortable with the idea of possibly saving $100 in a day. That’s okay! The 100envelope challenge can be adapted to fit various budgets. Instead of $1 to $100, envelopes could be labeled with smaller amounts, such as 10 cents to $10. The primary aim is consistency, making savings enjoyable, and not straining one’s finances. The flexibility of this challenge is one of its strengths. It can be tailored to suit individual financial circumstances and goals. The key is to find the right balance between stretching one’s savings capacity and maintaining financial stability. Engaging the Community One of the joys of this challenge is its communal aspect. Many participants share their progress on social media, encouraging friends and family to join. This shared experience fosters motivation and accountability. Watching others succeed can be a strong driving force to stick with the challenge until the end.
Potential Savings with the Method The beauty of this challenge is its potential. Participants can save a whopping $5,050 over 100 days if completed successfully. This amount
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Understanding the 100 Envelope Challenge | The Enterprise World The sense of community that arises from participating in the 100 envelope challenge adds an extra layer of
motivation. It transforms saving from a solitary endeavor into a collective achievement. The support and encouragement of peers can make the journey more enjoyable and increase the likelihood of completing the challenge. SoFi states, “These gamified savings techniques provide motivation for you to stash away cash and see your savings account steadily grow.” The 100 envelope challenge offers a fresh and exciting way to approach savings. By turning the process into a game and potentially engaging with a community, it becomes less about the money and more about the journey. It’s a testament to the fact that even tasks as routine as saving can be revitalized and made enjoyable with a bit of creativity.
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