facebook Make Your Ideas Happen! – Silicon Valley - Vigyaa
Close

Delete Collection?

Are you sure you want to delete this collection permanently?

Close

Delete Collection?

Are you sure you want to delete this collection permanently?

Everyone has a Story to Tell and an Experience to Share!

Let’s Start Writing
6ae45b6b-7572-48d4-bd06-193e75fb3263

72 views

Make Your Ideas Happen! – Silicon Valley

Silicon Valley creates a hub for many innovative companies to become successful and highly profitable which indirectly creates employment for many.

Silicon Valley is a region in San Francisco, it’s home to a hippie movement – the most open-minded place in the United States with 2000+ Tech Companies. This is a place where pirates challenge all business rules. It is a perfect Habitat for big ideas aimed at changing the world. Here anything you need is just to talk away from you. It is well known for a region full of Start-ups and Global Technologies Companies to get the perfect break.

To be more specific about it – Apple, Google, Netflix, and Facebook are among the most renowned. Most of them are leaders in the industries which also include social media, Softwares and Social sites. You will be amazed to know that, the idea of Silicon Valley began with great frustration. One Professor of Stanford University, Frederick Terman took a step forward towards creating more job opportunities for his students. He motivated two of his students William Hewlett and David Packard to start-up a high-tech company, he even got grand’s for them and started a company named after them which is none other than “Hewlett Packard”.

This is a bit of DNA in this place for people you are audaciously risk-taking, pioneering looking at what the next big thing is. If at a normal place there is like say 1 start-up a month but at Silicon valley its 3 Startups every day. Hundreds of companies apply every year, but they pick only 40 to present on stage and choose out of them the bests to incubate. The important reasons for Silicon Valley’s Success – Urge of Co-operation: Many Founders of different local companies studies together, Graduate together which makes them more into promoting each other, collaborating with each other which leads to becoming more successful. Silicon Valley also has its laws, different policies, it safeguards in aspects of a threat to one’s business- Trade Secrets, business Interest, and the ideas of ownership.

Silicon Valley’s “Cultural Diversity”: In the early years, most of the Start-ups were founded by immigrants without any bias. As long as the talent is getting served, no matter what culture, the community he belongs to, no gender-biased. Surrounded by Top Universities: It is so that many founders of top companies are graduated from Stanford University which is one of the Top – notch. Moreover, the staff member for the companies are provided by the local universities mainly include the California University, San Jose State and the community colleges. Silicon Valley Companies:

The best-known companies were founded in Silicon Valley including Apple, Facebook, and Netflix. Whereas the area has also launched Twitter, Yahoo, Tesla, and eBay. Also, Silicon Valley has strong business support from different companies like HP, Intel, Oracle, Adobe, and many giants. The Top 5 Silicon Valley Tech Start-ups of 2019 “Nurx” They realized there were certain things people wanted to be done and innovated in healthcare rather than researching them wherein Birth Control is certainly one of those. So Nurx is improving women’s access to birth control through an Application for ease. “Shippo” Shippo allows its users to save money and time with cloud-based shipping software. The company set its customers up with easy access to various different shipping providers, instead of requiring firms to implement various systems." “Gladly” Gladly provides business to create a highly-personalized experience for its customers.

Right from Retail and Hospitality to finance and travel. They provide a solution to build better connections with customers. “Biome Makers” Biome makers is a biotech company who owns its specialization in identification and understanding of Micro Biome. They use DNA sequencing technologies and proprietary Intelligent Computing systems who allow users to improve the quality of their products and agricultural production. “ImpactVision” ImpactVision is on an ongoing mission to create a transparent and more secure global food system using "Hyperspectral Technology" which combines a power of Digital Imaging with a chemical Technique “Spectroscopy” In this technique users can simply take a picture of the food and get to know its unique composition including nutritional content, freshness levels, proteins, fats, moisture levels, sugar, etc.



Related Articles


None

In a report known as “Brydon Report”, a former London Stock Exchange chair Sir Donald Brydon has suggested that the audit profession has lost its way. This was the third report commissioned by the former Prime Minister Theresa May to provide an Independent Review into the Quality and Effectiveness of Audit. After a series of high profile corporate failures such as the construction company Carillion, the retailer BHS, and the travel company Thomas Cook has shaken up the Financial Reporting Council and the British lawmakers. It has also raised questions on the effectiveness and reliability of the audit.

“Audit is not broken but it has lost its way and all the actors in the audit process bear some measure of responsibility”- Sir Donald Brydon

In a 135 pages report, Brydon has highlighted the shortcomings of the current external audit practices, especially the BIG FOUR FIRMS- PwC, Deloitte, KPMG and EY. These firms conduct the audit of FTSE-100 companies and therefore, there is almost no competition which is part of the problem. The report whilst highlighting the problems also gave various recommendation to improve the quality and effectiveness of the audit.

Key Identifications

The report suggests that there should be a change in the definition of the audit and it should be “written in plain English.” Brydon also believes “audit lacks a clearly understood and fully encompassing purpose.” The current definition fails to clearly describe the purpose of the audit and how and why it should be conducted. The change in the definition will help the auditors to make use the unique opportunity they have to verify, confirm and inform the stakeholders with everything that’s going on in the company and not just the financial statements.

"There has been a slow evolution, since the 1970s, in the role of audit from being just a periodic external check on the accuracy of financial reporting towards a value-adding function, but this has further to go."

Along with the shift in definition, auditors should be given proper training to make use of modern technology. Auditors also fail to make their reports more informative and useful.

“The purpose of an audit is to help establish and maintain deserved confidence in a company, in its directors and in the information for which they have a responsibility to report, including the financial statements, and the balance sheet

The auditors should look beyond the accuracy of financial statements and communicate better with the shareholders and other stakeholders. In current audit practices, even if auditors found a point of concern, they don’t inform it to the shareholders instead just discuss in the closed rooms with the directors, CEO and CFO. Thereby, they fail to grasp the opportunity to expand the scope of the audit and communicate better.

"In hiding behind the need only to confirm and verify, many auditors have failed to grasp the opportunity to make their reports more informative. Many do take this opportunity in private, communicating well beyond the narrow confines of auditing standards when reporting to audit committees, but not to shareholders or other stakeholders."

Recommendations

Following are the key recommendations made by Sir Donald Bryden.

•A redefinition of audit and its purpose;

•The creation of a corporate auditing profession governed by principles;

•The introduction of suspicion into the qualities of auditing; the extension of the concept of auditing to areas beyond financial statements;

•Mechanisms to encourage greater engagement of shareholders with audit and auditors;

•A change to the language of the opinion given by auditors;

•The introduction of a corporate Audit and Assurance Policy, a Resilience Statement and a Public Interest Statement;

•Suggestions to inform the work of BEIS on internal controls and improve clarity on capital maintenance;

•Greater clarity around the role of the audit committee;

•A package of measures around fraud detection and prevention;

•Improved auditor communication and transparency;

•Obligations to acknowledge external signals of concern;

•Extension of the audit to new areas including Alternative Performance Measures; and

•The increased use of technology.

Source: Brydon review final report

When you need a to toothpaste, what do you ask for? A Colgate or Pepsodent, right? This is known as brand awareness. They have become so well-known that they have replaced the common terms for similar products. For us, dog food is pedigree, for treating cold Vicks Vapour Rub, cold drinks mean Pepsi and so on.

Moreover, it also leads to satisfied customers. No business wants his or her customers to be unhappy with their brand. Some are unhappy for obvious reasons and some not. But solving them is a satisfying way is vital for every enterprise.

Let’s first read the five best pieces on how to build brand awareness:

Tip #1 Target Social Media Contest

Want your brand to reach millions? Don’t miss out on this trend. Social media is your one-stop hub to get organic followers. Run a social media contest and let the customers upload their pictures, videos and refer the same to their friends. Offering discounts, prizes can be the best call for a successful social media campaign.

Tip #2 Infographics

How to build brand awareness? Infographics are the key! These bright and colourful ways of displaying and marketing your brand have gained lots of importance so far. A powerhouse tool for brand building that reaches millions across the world.

Tip #3 Story Telling for Compelling Personality

A story that is compelling and not only emotional but inspirational too turns many heads. If you can create a story that connects deeply with your target audience, then they won’t forget your brand. Whenever they purchase your products or services, they can relate it to the story narrated through videos or any other way.

Tip #4 Interviewing Podcasts

This is the new emerging marketing trend that is undoubtedly going to reach great heights in 2020. Starting your industry podcasts where you interview industry experts can help build your relationship with customers and with others in your field.

Tip #5 Who Doesn’t Love Freebies?

Give freebies to your customers with your brand's name printed on them in events, fairs, etc. This is how people will always remember your brand whenever they use these products.

Following are the four surprising ways on how to deal with unhappy customers:

Tip #1 Listen before reacting

Never react without listening to your customers completely. Hear them out and let them know that you are paying attention to their complaints. When your customer stops, then summarise what they said and clarify their allegations.

Tip #2 Keep Calm

Never shout or answer back in foul language even if your customer is. Maintain yourself and keep calm. Never yell or shout and respond as wisely as possible. Ultimately it leads to building your brand awareness.

Tip #3 Apologise Sportingly

Convey your apology to customers gracefully. If you want them to stay, you need to express your concern towards their problem and actively sympathise for their unpleasant experience. A simple statement can help, like, “We are sorry for the inconvenience caused, let’s see what can be done to make it right.”

Tip #4 Solve their Issues Professionally

Ask suggestions from the customer as to what can be done to solve their problems. Give a realistic answer to their question and provide them with a higher degree of satisfaction.

Your Takeaway

Applying these trendiest tips on how to build brand awareness and how to deal with unhappy customers will lead to greater possibilities. Cope with these emerging techniques and easy ways to solve tense situations for best possible results.

Reference Image
Close