The Importance of Building a Learning Organization

Any organization that is proficient in generating, gathering, attaining, and passing on knowledge and applying it practically as well as transforming itself accordingly to build its future can be called a learning organization.

A learning organization always takes up learning as a dynamic and continuous process. So, it encourages its employees to conceive creative and innovative ideas, and learn from whatever they do, from their own and outsiders’ experiences, from proficient experts, etc.

It sets its workforce free to think outside the box and express their ideas and is readily open to new ideas. Apart from that, such an organization incorporates specific learning methods and systems as well as training.

Here, the organizational leaders reward those employees who take an effort in learning constantly, with appreciation and recognition, job promotions, and remunerations to inspire them.

Why it is important to build a Learning Organization?

The business world is cruel. Here, to survive and win, it is important to be highly competitive.

In the present day, information is the most highly valued asset. To dominate in the business world, an organization has to be cognizant of the latest trends and newest updates of the industry and impart them to the staff. This is crucial for today’s rapidly evolving business world where companies want to be alert at all times and be aware of the next big thing.

Being a learning organization offers a competitive advantage because its employees learn better and keep updated as well as apply it to produce the desired outcome. It helps in getting ahead of the competition and enduring the tough and challenging business environment, by being outstanding and superior to others out there.

What are the benefits of a Learning Organization?

  • It improves your workforce

By encouraging the employees to learn unceasingly and be updated with the cutting-edge knowledge of the industry, they become more competent in their jobs. They become more productive both quantitatively and qualitatively.

Also, they feel more enthusiastic about their jobs because they are not passive players in the organization, their opinion matters, and their ideas are welcomed. They feel confident and interested in their job. They also see their growth possibility in the organization and strive to perform better.

This ultimately increases the profitability of the business.

  • It reduces the employee turnover rates

Employees who learn better and qualify themselves further can do their tasks efficiently. Hence, they feel satisfied and happy with their jobs and never find them boring. 

Because they get to learn and improve themselves in the organization and see the opportunity for their growth within the organization. When employees are appreciated and rewarded for their efforts, it increases their morale and they develop a feeling of loyalty to their company and their job.

This can dramatically cut down the employees’ turnover rates. This increases the reputation of the company and benefits it more by attracting top talent. It also cuts down the cost of re-hiring and training new employees.

  • It helps in enhancing customer satisfaction

Learning organizations become capable of providing the latest to the customers, whether it is the newest features or state-of-the-art technology incorporated in their products or services. This attracts more customers and thus more sales and profits.

It also makes the relationship with the customers healthier because it enables the company in delivering better information to the customers and discovering ways to offer improved customer support.

  • It offers more flexibility

In this ever-changing world and unpredictable world. Any crisis may come up challenging the business at any time.

Developing a learning organization makes the employees well-informed. It also makes them collaborate well and share information with each other in the organization.

So, the workforces are well-prepared for the unexpected and readily get acclimatized to new circumstances much better and quicker than those in the organizations that have neither adopted a learning culture nor developed cooperation among the staff.

Consequently, the company is capable of handling external challenges smoothly.

  • It stimulates innovations

Technology is advancing exponentially like never before.

So, organizations that want to get ahead of the competition must innovate inimitably. But it is feasible only if the organization supports its employees in inculcating new knowledge and information, and creating new ideas through practice and experimentation. After all, it is the employees who innovate and create solutions that help in generating successful business.

Only those organizations that foster a learning culture can cause innovation.


Do you now realize, how advantageous it is to be a Learning Organization?

Do you want to develop a learning culture in your organization?


To survive and thrive in this highly competitive business world, learning organizations become capable of facing external threats, harsh competition, and any uncertainty of the business world. It is immensely important for companies to build a powerful learning organization that strives to better the organization’s performance, gain competitive advantages, and continue success.

 

Soaring Drone Business Opportunities

“Drones overall will be more impactful than I think people recognize, in positive ways to help society.” – Bill Gates

Drones also known as Unmanned Aerial Vehicles (UAVs) are remotely operated and controlled robotic aircraft that can be used to do different tasks varying from everyday errands to extremely dangerous responsibilities. They come in different sizes and have different technological features provided for specific functions or purposes.

In recent years, there is a rapid advancement in Industrial Drone Applications owing to their unmatched abilities and aspects. Therefore, the drone business has a huge scope across various sectors. Let us go through a few of them.

Agriculture Industry

Drones, with their versatile and significant applications, are causing a huge revolution in the agricultural industry. If you’re living in a farm-dense area, imagine the effect you can make on the farming community who can fine-tune elements like fertilization and irrigation with the help of the photographs and readings taken by drones.

Drones with high-resolution cameras, digital imaging systems, different sensors, and lasers are useful for real-time crop monitoring, determining crop health, analyzing deficiencies, inspecting soil hydration, pest, bacterial or fungal infestations, blight, and weed identification, detecting pooling or leaks in the irrigation, etc.

Drones fly swiftly as well as flexibly and can be controlled to go to the destined locations. Hence, they are immensely useful in agricultural tasks such as spraying fertilizers and insecticides, seeding and planting, etc.

Unlike manual labor, they accomplish the task rapidly, effortlessly, and efficiently with scientific precision, and that too at comparatively a lower cost.

Because Agriculture drones enhance crop yield and bring in more profitability, their demand is increasing in recent years. It is projected that the Agriculture Drones Market will soar at a CAGR of 22.4% from 2021 to 2030. By the year 2030, it may escalate up to 5.89 Billion USD.

Hence, Agriculture Drones Business has a very lucrative opportunity.

Construction Industry

Drones are transforming the construction industry dramatically.

Because drones are capable of capturing aerial footage and recording real-time data, they are useful in accessing construction projects such as high bridges, overhead power lines, wind turbines, skyscrapers, cell sites, TV towers, etc.

Drones are applied in the construction sector for asset tracking, preliminary mapping , remote site surveying to volumetric measurements for cut and fill jobs, planning as well as monitoring construction sites, observing the real-time progress of construction, carrying out structure inspection and quality examination, executing safety inspections, surveillance and site security.

They collect required data such as topographic information, and site measurements, for 3D mapping, building 3D models, and incorporating them into their Computer-Aided Design thus valuable in optimizing plans.

The demand for drones is increasing in this industry because they cut down costs, streamline workflow, enhance productivity, efficiency, and precision, improve safety, deliver the finest record of entire activities, and save time and effort. It also helps in delivering a safer way when it comes to unstable building inspections and surveying areas of construction site that are quite challenging to access by land.

It is anticipated that the global construction drone market may reach up to 14,123.3 million USD by the year 2028.

As a result, the drone business has a great possibility in the construction sector.

Security And Surveillance Industry

Drones with their superior features outperform traditional surveillance methods and are thus creating a huge demand in the Security And Surveillance Industry.

Unlike ground-based surveillance, drones with their aerial surveillance cover vast and hard-to-reach spaces. Moreover, they can pass through narrow and confined areas. Drones for surveillance purposes have night-vision cameras and thermal sensors with which they can detect and capture images with minute details that human eyes cannot.

They can efficiently detect intruders, follow them from a safe distance as well as promptly respond to the alarms stimulated by the external sensors.

They can offer live streaming and collect comprehensive data effortlessly, rapidly, and cost-effectively. They are immensely valuable in cutting down risks & increasing the competence of security personnel.

They are particularly in great demand for event surveillance, perimeter guarding, anti-poaching, traffic management, border patrolling, etc, and present high profit-yielding business opportunities in this sector.

To conclude, drones are highly beneficial for security surveillance in terms of saving cost, able to access distant and inaccessible locations, reduced noise levels which provides clear monitoring advantage and a prompt response for evidence gathering or possible arrest.

Advertising And Marketing Industry

Drones are the future of the advertising and marketing industry.

Drones have myriad applications in the advertising and marketing sector.  Specifically, drone light shows are getting increasingly popular. They can display and highlight a company’s brand by lighting up high in the sky, fascinating the audience, and capturing their attention to the brand’s message. Whether it’s a thousand takes or unconventional or distinctive angles, drone makes everything possible especially when shooting commercials and other marketing tactics.

They serve as cinematographer tools. They are also very valuable in capturing high-quality, stunning aerial video footage that can be used in advertisements specifically for property management companies, sporting events, resorts, hotels, restaurants, tourism and travel companies, etc.

These kinds of shots not only impress the audience in tv commercials but also grab their attention on the websites, banners, and print ads.

Because drones can be integrated with state-of-the-art technologies like Cloud technology, Artificial Intelligence, Virtual Reality, and IoT, they can be highly functional in this industry for data collection, innovative content creation, and advanced branding. And thus, the drone business has an enormous possibility in the advertising and marketing industry.

Drones are already able to integrate with all these new technologies giving birth to innovative ways to create content, customize it and deliver the brand’s message to its audience.

Oil And Gas Industry

The oil and gas industry must function as per their strict standards as well as conduct methodical inspection and maintenance to ascertain safety and prevent failures. However, the traditional process of implementing them is very costly. It also carries the risk of dangerous heights and electrocution. And so, drones are extremely valuable in performing these tasks without human intervention. Drone usage also minimizes inspection time and helps increase company savings. Companies are able to perform precise inspections with the use of little time thus, expensive inspection activities and platform shutdowns are being avoided, making companies able to save millions of dollars per inspection.

The pipelines that are employed in this industry extend for a large distance and some of them can be underground and thus tough to access. Drones come in handy here as they can fly and cover vast as well as hard-to-reach areas rapidly, detecting pipeline cracks, corrosion, gas leakages, emissions, spills, if any, and alarming the workers about it. Thus, they can prevent disasters and losses.

Drones are applied specifically for inspections, 360-degree view monitoring and observing proactive maintenance, and improving workplace safety. They can detect those particulars that human eyes cannot and provide better on-site safety, with high accuracy and cost efficiency.

Thus, the oil & gas industry, one of the chief contributors to the global economy, has growing demand for drones and consequently creates a profitable future for the drone business.

Telecommunication Industry

Drone technology has instigated huge disruption in Telecommunication Industry providing a cost-effective, safe and smoothly deployable alternative for traditional telecommunication methods.

Drones are applied in this industry for preventing cell tower faults. The structure of cell towers is inspected by employing drones to detect corrosions, cracks, electrical malfunctions, and unwanted growth of vegetation that obstructs the powerlines, defects caused by wear and tear.

Drones can fly high, reach dangerous areas and so can be used instead of making the workers do the risky tasks of tower climbing. They detect faults with high accuracy. This, help in maintaining and upgrading the cell towers efficiently.

Several parts of the world lack internet or cellular connection. Drones help resolve this issue by acting as temporary cell towers in those areas.

The usage of drones in this industry is transforming and improving its operations while saving time and cutting down costs. It can also operate in bad weather conditions like rain and high winds.

It is predicted that the global telecom drone technology market can grow from the year 2021 to 2026, at a CAGR of 17.8%.

The drone business has a fruitful opportunity in the telecommunication industry too.

The global commercial drone market is expected to rise from 8.15 billion USD in the year 2022 to 47.38 billion USD by the year 2029, estimated to grow at a CAGR of 28.58%.

For businesspeople who expect to make incredible profits and success, the drone business that presents a promising future is waiting to be explored.

 

To get further information & to know how Dhunicorn can help you in discovering new business opportunities,

Contact us at info@dhunicorn.com

Dhunicorn Business Funding Solution: The Gateway of Unlimited Funding
 
Need new funding to achieve various company objectives?
 
Considering raising money from various funds and sources?
 
What are the best options available to your company?

Dhunicorn business funding solution is the best option for any type of company in the world. Continuous funding is not only the most important resource for business growth and various projects but also ensures business continuity and survival. It’s essential and smart for companies to get ready access to various types and sources of funding.

Dhunicorn business funding

We are the experts to bring you the most trusted Business Funding Solutions to help your company achieve continuous growth and success. After thoroughly understanding your business funding needs, we connect you with those targeted investors who are the best for your business and financial goals. We meticulously research, compare the deals and find you the best possible option among the investors.

With our thorough knowledge and in-depth experience in this field as well as strong working relationships with the investors, we can get you the best offers with the most favourable terms and competitive rates.

We coordinate and support you throughout your business funding process. Because we are well-familiar with the investors’ approval criteria, we can offer you personalized assistance in preparing a clear and convincing pitching deck, that incorporates all your business information the investors expect to know before approving the fund. We advise and guide you in avoiding those mistakes that may cause the rejection of your business fund application.

We are available to our clients, any time they want to reach us, to answer their queries, give status updates, as well as address their concerns. We process very fast to ensure our clients get their business funds on time. Above all, we protect our client’s information and ensure it is kept very confidential. We assist companies who are seeking the following funding rounds:

  • Seed
  • Angel round
  • Series A
  • Series B
  • Series C and beyond
  • Merger & Acquisition
  • IPO
  • Post-IPO
  • Private Placement
  • Other funding

Why Dhunicorn business funding?

We have a comprehensive network and collaboration with more than 78,000 public listed companies, investment funds, private equity funds, venture capitalists, angel investors, business incubators, government agencies, various funds, and investors, around the world.

  • We carry out thorough research and match you with the best-suited investors.
  • We get you the best deals with the most favourable terms and competitive interest rates.
  • We help you in pitching successfully.
  • We help you in avoiding mistakes that may cause the rejection of your business fund application.
  • Our team of experienced financial advisors and specialists offers advice and guidance throughout your business funding process.
  • We are well-experienced in working with start-up companies.
  • We provide our service to businesses of all sizes.
  • We deliver the convenience of hassle-free, fast processing.
  • We cater to most industries, including high-risk industries.
  • Our professional yet friendly customer service is quick and reliable.
  • We protect your information and ensure its confidentiality.
  • We provide transparent and trustworthy service.

Three types of funding packages

We offer you the best business solutions most business owners aspire to. Our comprehensive solutions are Basic, Advanced, and Premium packages that cover every business need and in different stages of your business.

Of course, the business functions of every company are different. Hence, financing options needs vary depending on your size, industry, and other aspects. Before you contact us for business funding solutions, be sure to take the following steps:

  • Consider the stage of your business
  • Determine how quickly you need funding
  • Estimate your projected finances 
  • Evaluate your business’s current finances
  • Weigh your business funding options

Basic package features

  • Inform, promote and connect your funding needs to more than 78,000 reliable investment funds, angel investors, venture capitalists, public listed companies and other investors worldwide.
  • Assist to identify suitable investors for your business requirements and needs.
  • Connect you to interested funding prospects for meeting and discussion.

Advanced package features

  • Inform, promote, and connect your funding needs to more than 78,000 reliable investment funds, angel investors, venture capitalists, public listed companies, and other investors worldwide.
  • Assist to identify suitable investors for your business requirements and needs.
  • Connect you to interested funding prospects for meeting and discussion.
  • Assist in carefully studying, analysing and understanding your proposal.
  • Facilitate a strong application by giving you constructive recommendations to modify and enhance the content of your application to make it the right fit for the investors.

Premium package features

  • Inform, promote, and connect your funding needs to more than 78,000 reliable investment funds, angel investors, venture capitalists, public listed companies, and other investors worldwide.
  • Assist to identify suitable investors for your business requirements and needs.
  • Connect you to interested funding prospects for meeting and discussion.
  • Assist in carefully studying, analyzing, and understanding your proposal.
  • Review and evaluate your business objectives, sales & marketing strategies, operation & management, financial standing, and growth forecasts.
  • Assist to formulate a marketable business plan, targeting the investor’s perspective.
  • Build an impressive and impactful pitch deck.
  • Attend some crucial meetings (virtual) together, guiding and helping you through every step of the funding process to successfully secure the funding.

Conclusion

Funds are an indispensable part of every commercial entity. As a business owner, you need proper funds to ensure the smooth operations of your company. Especially for start-ups, having sufficient funding is the most important initial step. Dhunicorn hereby recommends you various funding solutions to avoid any hassle.  Through our long-term funding support, you will access and find out some great funding opportunities that suit your organization and funding goal.

For further information on business funding solutions, please contact us at https://dhumall.com/businessfundingsolution/packages/

Top 12 Industries that Blockchain Will Disrupt in Future

“The application of Blockchain technology is rapidly becoming a core component of our infrastructure!” ― Kevin Coleman

A business process consists of a series of actions with the required steps to achieve an expected outcome. Every process is structured and repeatable. Every employee in an organization has to experience the same process. If a sort of action is unperformed, the entire workflow might become a mess. Therefore, streamlining a business process is the key feature of an organizational structure. With a structured business process, every employee can recognize their responsibilities and reduce errors to achieve added productivity. Blockchain technology has initiated a new world of possibilities with innovative business processes. Around the world, Blockchain service providers introduce novelties in every business function.

Every growing company needs to introduce novel elements for getting revolutionary changes to all components of their business functions. Recently, blockchain has entered the tech world as a game-changer. This disruptive technology generates distinctive opportunities to decrease complexity, produce secure and immutable information, and facilitate collaboration.

By decentralizing data, blockchain technology keeps our personal information more secure. With the support of this technology, every firm can ensure a safer online experience. In this article, learn about the top 10 industries that blockchain technology will disrupt in the future.

  1. Banks and Financial Services

It was said that what internet has done to media applies to what can blockchain do to banking. Banks and other financial services face different types of risks since they hold various data regarding the personal and financial information of customers. According to statistics, banks can save approximately $19 billion in the total banking process as a whole if they have an authentic approach to storing and sharing. To reduce the risk, banks can apply blockchain technology to performing their routine tasks and other major functions. A few banks have already started using this but not all. 

  1. Healthcare Industry

Adopting blockchain technology to transform the healthcare industry increases the security, interoperability, privacy of health data and minimize the costs while providing patients access to healthcare.  This technology provides a safe and systematic model for making medical records well-organized and secure. With its unique and result-oriented functions, healthcare industries improve healthcare communications, facilities, and functions on the whole.

It is expected that blockchain will change the world of healthcare with so many possibilities. In the coming years, every healthcare industry may boost its functions with this disruptive technology. Nevertheless, implementation will not be a cakewalk since every company needs to make a new infrastructure to avail all the opportunities of blockchain technology. The potential benefits of blockchain in the healthcare market are enormous as it:

  • Creates the data which cannot be altered by anyone.
  • Gives patients medical records of every communication and prescription.
  • Develops healthcare industries with more reliable approaches.
  • Offers possibilities for pharma companies to collect data in real-time.
  • Presents healthcare professionals easy access to the patient’s data.
  • Provides a great deal of transparent communication related to patient billing.
  • Stores the data in a hack-proof centralized database.
  1. Internet of Things

If we connect any internet-connected devices with other things or gadgets wirelessly, the things in this system can transmit and receive data from each other. IoT supports smart work and modern management of life. It aids in improved business process insights. It also helps in cutting down operational costs and downtime as well as enhances overall efficiency and productivity. With the support of blockchain technology, we can transform IoT industry processes to protect communications, facilities, and modernize software, monitor bugs and energy usage and functions on the whole.

  1. Cloud Computing

Unique features of Blockchain such as decentralization, transparency, and security have brought a revolutionary technology for the present generation of several industrial usages. One of those technologies is Cloud Computing. Blockchain provides a very crucial solution that can remove all the challenges in Cloud Computing through decentralization and provides data privacy as well as network security.  Hence, the integration of blockchain and cloud computing becomes very useful for a large number of industrial applications.

  1. Digital Marketing

Blockchain is also useful to disrupt the ways digital marketers do as it has a massive effect on delivery, purchases, metrics and value on such digital marketing campaigns. It is the future of digital marketing. With the support of this technology, small businesses can compete with larger companies to reduce costs, increase transparency, and trust with consumers. The following are some of the benefits of blockchain technology in marketing.

  • Blockchain allows marketers to accept alternate payments.
  • Companies can get genuine customer-related data.
  • Small companies can build trust in customers.
  • Companies can post ads without middlemen.
  • Every company can improve security.
  • Blockchain enables consumers to take charge of the ads they see and give advertisers an advanced means to fabricating high-quality leads.
  1. Public Transportation

Every national highway in the world has become a centre of accidents. To reduce the number of accidents, governments must install traffic systems expensively. Employing blockchain technology could help global national highways to become accident-free zones and it may bring statistics to better understand how people are utilizing public transportation options. Blockchain could also contribute to public transportation with a more functional, streamlined system, and pollution-free system.

  1. Energy Management

Blockchain technology is technologically potential to transform the energy sector as well even though Energy Management has been an extremely centralized industry for such a long time.  This energy industry is continuously introducing several innovations such as rooftop solar, electric vehicles, and smart metering. These innovations bring new use cases that include new business models for energy markets with real-time data management, and moving carbon credits or renewable energy certificates with the support of blockchain. 

  1. Government Records

The management of government services is another area in which blockchain can help decrease paper-based processes, lessen fraud, and increase accountability between authorities and the public. Some governments have already started taking it upon themselves to enjoy the benefits of blockchain technology-based advancement.

  1. E-commerce

Blockchain technology can transform the e-commerce industry by reducing transaction costs and increasing transaction security. Most famous e-commerce companies such as Amazon, Walmart, and Alibaba have already begun utilizing blockchain technology. By keeping time-stamped records of shipping and receiving, both owners and customers can reduce several price-related disputes. To simply put, blockchain can give a massive impact and changes on the following E-commerce categories- technological, legal, organizational and quality concerns and consumer issues.

  1. Retail

When it comes to the retail industry, customer trust is the most important factor. If companies apply blockchain technology to increase auditability, transparency, and confidence in every business process, it may be an approach to building trust among payment gateways, retailers, and customers. Blockchain will link consumers to vendors and won’t be needing a middleman with associated fees. Next-generation retail industry will be based on blockchain technology as both retailers and customers need to be more transparent and authentic in buying and selling.

  1. Real Estate

By applying blockchain, such issues concerning bureaucracy, no transparency, scams and public records errors which are normally faced in the buying and selling process in the Real Estate Industry will be reduced. Blockchain technology can fasten negotiations as the paper-based record keepings will be minimized and related work such as trailing, confirming ownership, ensuring precision of documents and transferring property deeds will be more convenient and efficient. 

  1. Insurance

Blockchain is an advanced way of trust management and can be used to authenticate various types of data in insurance contracts like the insured person’s identity. An oracle can be used to incorporate real-world data with what you call ‘blockchain smart contracts’ and this type of technology is very advantageous for any type of insurance that counts on real-world data.

Conclusion
Blockchain will not only transform how we use the internet but it has the potential to primarily reinvent and redesign business functions on the whole. Apart from the above companies, the business functions of every company are based on a certain process which needs more authentic data management for solving problems. Hence, blockchain providers can focus on solving problems of various sectors. Companies, which aim to become next trendsetters, should rely on providing blockchain-centred services that help them achieve an efficient management and innovative infrastructure.

           

Business Model Innovation: The Key Strategy of Business Evolution

“A business model describes how your company creates, delivers, and captures value.”Steve Blank

How powerful and effective is your business model?

What does business model innovation mean to your company?

What are the problems that could have been caused by your business model?

Do you want to look for the answers to the above questions? Then this article will tell you about the complete picture of business model innovation. When we talk about the success story of any brand, the major element is the business model. A business model plays a key role in making profits, implementing functions, and capturing value. If innovation is added to a business model, it will become a framework to capture or create value by doing things uniquely to serve society with products or services in an innovative way.

Business model innovation is the art of enhancing essential features and functions by developing unique concepts for supporting an organization’s financial viability and advancing the business functions. It is where a company forms, distributes, and gets its value. The key goal of business model innovation is to recognize new revenue sources by advancing product value and how they are delivered to customers.

Why is business model innovation so important?                       

Nowadays innovation is immensely important for every company in the world. In many cases, innovation is only connected with innovative products or services. However, a business model innovation should be significantly more profitable. Continuous changes in customer buying behaviour, globalization, and revolution in digital technology are presently creating a “window of opportunity” for developing new business models. A business model innovation is important because it helps businesses:

  • Boost Long-Term Market Value
  • Cut Expenses to Save Money
  • Increase Sales and Improve Profitability
  • Enhance Business Performance
  • Improve Employee Performance
  • Implement Business Growth and Expansion Strategy
  • Gain Competitive Advantages
  • Improve Management System
  • Build Learning Organisation
  • Explore New Business Opportunities
  • Develop New Markets
  • Create Branding Strategies
  • Contributes to overcoming sales rejection
  • Helps prepare the company for unexpected events, for example, Pandemic

Examples of Business Model Innovation

Let us have a look at how to do Business Model Innovation and discuss a few examples to get a clearer idea of what it looks like when being practiced:

  1. Freemium -This is a word that comes from ‘free & premium’. It pertains to business models where the company is providing free services but will charge more when a customer uses the special features then they will be upgraded to paying “premium customers”. For businesses with exceptional products, high gross margins, and high customer acquisition costs, this can be a very dominant model.
  2. Subscription Models– An effective way to transform one-off purchases to a more anticipated, and over time larger, stream of revenue while guaranteeing that the customers are consistently getting value and is also able to purchase higher-end services because of the purchases arising over time. B2B and B2C businesses are the best examples for Subscription models.
  3. Platforms– These are categorized by their distributed approach to creating value. Basically these are either marketplaces or matchmakers that come in many forms. They usually earn money by either getting commission from the transactions or by charging the supply side for the value-added services being provided. The most common examples are Airbnb, Alibaba & App Store.
  4. Direct-to-Consumer (D2C)– This method gives the manufacturer a bigger margins as middlemen are not needed anymore. It gives manufacturers more customer experience and relationship, more control over the brand. Best examples for this are Casper in mattresses or Tesla in electric vehicles.
  5. Ads, affiliates and sponsorships– Smartphones and Internet are dominating the world and we have witnessed a big improvement in content creation which turned the conventional business model of monetizing content with advertising challenged because competition to capture market’s attention heightened up. For example, Spotify produces the majority of its revenue and profits from its users, the advertising revenue provides the company with a solid secondary revenue stream that can be useful for investing in their new developments.
  6. Hybrids– A huge number of the most innovative businesses have hybrid business models that actually consolidates multiple aforementioned patterns in a way that is customized for their specific businesses. A perfect example of hybrid business model is Peloton which sells high-end treadmills and bikes for home use which goes with a subscription service that provides exercise programs, online classes and many other useful features to go with the bike. Even if their products are pricey, they are able to sell them at break-even and then generate income with the subscriptions.

9 key points about business model innovation

  1. Every company needs a business model innovation since updating a business concept is the most important for making revenues.
  2. The business model innovation of a brand should transform partially and completely to ensure its success to come and present survival.
  3. At the same time, BMI should focus on both adding quality to existing products or services and introducing new products or services.
  4. Business model innovations do not essentially require the development of completely new business concepts. It may be a combination of already existing ideas that are widely used all over the world.
  5. Based on the type of industry or the type of service or product, it can be both a micro and macro innovation model.
  6. Instead of just one model, a brand can develop several business models at the same time. Moreover, several companies can use a type of business model.
  7. Business model innovations should focus on the potential to transform an entire industry with a new way of what customers prefer to buy.
  8. A good business model innovation may have the competence to collaborate with other business model innovations.
  9. Our present life is to focus on providing good life for our posterity. Hence, a good business model innovation should focus on what would happen in the future.

A combination of the above tips and techniques is essential if you want to develop a good business model innovation. To stay competitive in your business, you need a strong understanding of the key concept of your business model innovation. Based on the elements of a key concept, you can develop a business model innovation with the power of the latest technology. Make sure that your business model innovation will stay positive even under risky situations. Apart from all these things, when you develop a business model innovation, you need to consider other following key elements that will make your business successful.

Money: Running a successful business needs an expensive budget. You need to focus on controlling and managing loans, investments, capital amount, and/or revenue to make the financial function of your business go smoothly.

Pricing: Adopt the right pricing strategy. If your products or services are too high, you restrict your customer base. If they’re too low, your products or services may look substandard. So it is essential to price a product or a service after market research.

The right customers and clients: The most successful companies should be able to discover the right customers and clients as marketing their products or services is around them.

Less competition: As the market is already filled with several types of products and services, you should find out a less competitive product or service.

Need: If your product or service is not the choice of customer’s needs for the time being and in the long run, your business success may become a question. Diligent market research is essential to find out the needs of customers.

Growth: The growth component of a business model innovation should focus on what a company should do to increase the number of customers and key strategies to accelerate the functions to make profits immediately and continuously.

Business network: A good business model innovation should be a model which is suitable to collaborate with a business network. Joining a strong business network is the most valuable resource to succeed in any modern business. Some of the notable key benefits of a strong network are strengthening business connections, developing your creative intellect, improving your visibility, connecting you with extra resources and high-profile individuals, creating new business and marketing opportunities, achieving constant business growth, and increasing profit.

Conclusion
The concept of a business model innovation is highly important to redesign the structure of any business since business model innovation is one of the most authoritative approaches for companies to stand out from the crowd.  If a company needs long-term success, an ideal business model is essential. Dhunicorn offers all types of companies with comprehensive business solutions. Business model innovation is one of them. If you want to have a successful business model innovation for your company, we will guide you to enter the right path. And also you can renew your business model with us now for better outcomes!

“The Power of Partnerships: Why They Matter?”

Strategic partnership is one of the most fundamental approaches to improving business outcomes. As it is crucial to the growth of any type of business, merchants and traders make use of the principle of a strategic partnership to enhance business functions and expand business operations. The power of partnerships in business manifests itself in a number of forms, ranging from cooperation to investing in a project to sharing business expertise knowledge and goals between companies.

With the right partnerships, companies can advance their business concept and increase their market size. And also, partnerships between businesses foster collaboration and longevity in firms and provide better solutions to society since companies can blend some of the best services together to introduce innovative products and services.

Before you start to have partnerships, you have to decide what types of partnerships your business needs. Generally, there are three types of business partnerships:

 

Partnerships matter for the following reasons:

1. Same goals and vision

If your partners also have the same goals, vision and core values for your new business, the success ratio of business operations and expansions is enormous. A combination of business elements under the same goal will help you achieve improving organizational structure as you blend more ideas to develop one idea. Moreover, the right partner can assist in every growth of the business, and share a large chunk of the workload to run business functions smoothly. When it comes to corporate social responsibility (CSR), business partners who have the same goals and core values may contribute to the society for solving a number of social issues since two helping hands are better than one helping hand.

2. Partners with the different skills

When your business partners have skills that you don’t have, you’ll empower your start-up with more skills. For instance, subject-matter experts can form partnerships with marketers to market their expertise as a service. This way, both you and your partners can share skills for unleashing your potential mutually.

3. Shared Roles and Responsibilities

As every partner will take care of their roles and responsibilities, you can decrease your workload. So, you will have more time to focus on other development factors. And also sharing roles and responsibilities play a major role when your business faces any crisis.

4. Increased Brand marketing

In today’s market, brand marketing, which can reach a customer’s overall perception of a business, should be done through various digital marketing activities such as SEO and Content Marketing, Social Media Marketing, Email Marketing and Paid Advertising, and offline activities such as Business Cards, Pamphlets, Tradeshows, Workshops, Canvassing, Classified Ads and more. Simultaneously, both of these activities are essential to gaining brand awareness and growth. If you have strong business partners, you can promote your brand
collaboratively and effectively.

5. Discovering Your Competitors and Their Services

Knowing who are your competitors, understand their offering, will help you create strategies to improve your business performance. Here, competitor research can play a major role. It is strategic research that specializes in collecting data about rival firms. With the support of partners, you will become capable to discover who your competitors are.

6. Improved Brand Marketing & Target audience

Discovering your target audience is the most important step in brand marketing. Whenever performing brand marketing, keep in mind who your customers are since you can modify the elements of your services or products according to their exact needs. It can make you focus on a niche market, and you can create a brand identity based on their hopes, desires, cultures, languages and needs. Once a company understands the target audience, they can promote the brand based on customers, create a logo, colours, fonts and tone of voice according to their needs, make products and services for the right people and tell brand stories as per the buyer persona. With the support of partners, you will become capable to improve your brand and to discover your target audience.

Forming a partnership regardless of whether it is a general partnership or limited partnership or limited liability partnership, is the key to advance your business to the next level.

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“Finding the Right Strategic Partnerships for Your Business”

Strategic partnerships help businesses grow and succeed by letting them pool resources, skills, expertise, knowledge, innovation, latest technology, etc. Partnering strategically is a great way to grow the customer base, access new markets, expand geographic reach, diversify product lines, cross-promote, utilize each other’s strengths, gain competitive advantage, boost sales and revenue, and support business resilience.

Strategic business partnerships can be very advantageous for businesses of all sizes. However, the partners must be competent to build, develop and make the best of the partnership.

Finding the right strategic partners for your business to function jointly and co-operatively to create mutual benefits and success is the most crucial task in strategic business partnering.

To identify the right strategic partners for your business:

Set Clear Goals And Build A Business Partnership Profile
One of the major reasons why strategic partnerships fail is the lack of clear goals. When partners team up without any definite purpose, just for the sake of partnering then the partnership is likely to head towards failure.

So, set concrete goals and objectives that you are wanting to achieve through this strategic partnering. Also, ensure that your intentions are impartial and mutually favorable. Being only self-focused and not reciprocal cannot work in the long run.

While defining the goals, ask questions like:

  • What are your business goals?
  • How to accomplish them?
  • What is the time frame for attaining them?
  • What goals would be achieved by partnering with other businesses?
  • What type of company/business partnering can help you in achieving the goals?
  • Which industry your business partner must be involved in?
  • What are the weaknesses of your company? What kind of company can help fix these problems?
  • What support/help could your company offer in return?
  • What other benefits can you gain from this kind of partnering?
  • How can you make the best of this strategic partnership?
  • What according to you should be the ideal time frame for the partnership?
  • Are you looking forward to having a long-term or short-term partnership?

These questions can help you in listing your business goals and create a precise profile of the type of businesses you need to team up with.

 

Do Intensive Research
Before you actually approach the potential partner, carry out intensive research about them. Understand their business thoroughly. Determine the favorable aspects and strengths they have to fulfill the business goals that you specifically want to achieve through this partnership.

Pursue the company you can gain the most by partnering with. Your partner must be potent in the areas you are struggling in so that they can support you to enhance your growth.

Also find out how you can benefit them, unlike others by this partnership so that you can interest them to team up with you. It is important to ensure that both your and your partner’s goals will be met by doing business jointly.

Pitch To A Potential Strategic Partner
When approaching a potential partner, be direct and to the point. They must get the idea of why you want to team up with them and what are you anticipating through this business partnership. Also, present them with a short bio of your company so that they can understand your business and business goals.

Identify the chief decision-makers and pitch directly to them. If they are interested in the partnership idea, present a comprehensive partnership proposal.

Be Honest And Transparent
Be upfront with your potential partners if you want to gain their trust and make the partnership work. Being candid with them makes certain that you both have a clear idea of what to anticipate in this possible partnering. Let them know about your business strengths and weaknesses and bring up the areas where you would want to leverage their support.

Similarly, talk about your offerings and how your strengths can help with the weaker aspects of their business. Give details on how can you support them as well.

Thus, you build confidence in your potential partner and get rid of their hesitations to make them proceed further partnering with you.

Dhunicorn, the Best Place To Look For Strategic Business Partners For Your Company
Finding the potential partner for strategic business partnering can often be overwhelming and taxing, even if you know how to find them. It is also time-consuming to find someone you can really trust and who shares the same values as yours.

At Dhunicorn, our business experts know what it takes to form the right strategic business model. We meticulously analyze and bring those companies together that perfectly match with their goals, intentions, values, insights and are ready to team up for the long-term.

Dhunicorn has a network of 40,000 public listed companies and many private companies around the world. We can carry out confidential exploration of potential strategic partners specifically for your company from our vast network of companies.

Apart from supporting your company in getting apt and stable partners, we can also assist you with the business model design, strategic planning till the execution and implementation stage.

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Strategic Business Partnership & Joint Venture Development

What is Strategic Partnership?
A strategic partnership involves creating a business partnership between two or more business persons or companies to share resources, innovative ideas, and technology, knowledge, expertise, capabilities, skills, trustworthy vendors, distribution channels, customer base as well as facilitate access to new markets, for mutual growth and success.

Although the strategic partners are independent, they mutually generate value for each other and endure risks together.

Why Create Strategic Partnerships?
If done right, strategic business partnerships can prove to be your business asset. Let’s see how strategic partnering can enhance your business growth:

1. Brings In More Business
If you want to grow your business, boost your profits and revenue then creating strategic business partnerships is the rapid way to achieve your goals with ease. It helps to bring in more business, apart from offering significant benefits and cost savings.

2. Gets New Customers
Growing a customer base is one of the main goals of any business, and a functional strategic partnership agreement helps to achieve it. Partnering with another business provides you a reach to their customers as well. This being mutual, businesses go for new partnerships to increase their market share.

For example:
Uber, the ride-hailing company formed a strategic partnership with Spotify, the music streaming company, for their mutual benefits.
Uber lets its customers stream Spotify and enjoy personalized music whenever they take their ride. This also makes Uber riders want to subscribe to Spotify Premium. The personalized music experience with its ride offers Uber a competitive advantage over its competitors.
Thus, both the companies attract and acquire new customers.
Strategic partnering is the right solution for your company to acquire new customers without investing in extra capital.

3. Adds Value for Loyal Customers
Customer retention is as important as getting new customers. Satisfied customers promote the products through word-of-mouth marketing. Partnering with companies that offer products related to yours cuts down the risk of some competitor company reaching and acquiring your customers. The strategic partnership adds value for your existing customers and thus helps you in retaining them.

4. Gives Access To New Markets
If the strategic partners have customers from a different market than yours then new-market penetration becomes easier than trying to enter the new market on your own. Sometimes, partner companies get to access the new market without any extra capital, additional routes, infrastructure, and distribution network expansion, which is not feasible to do on their own. Besides, building trust is very crucial when entering a new market and the trust your partner company has already built in the market benefits your company as well. This can help you get ahead of your competitors.

5. Expands Geographic Reach
Expanding into a new geographical market can positively help in the growth of your business. Partnering with companies in different geographic locations offers an opportunity for geographic expansion. Also, leveraging your business partner’s expertise and resources can help you reach your business goals without bearing the expenses and overheads on your own.

6. Helps in Extending Product Lines
If product diversification is your main objective, then a strategic partnership is advantageous in getting access to the resources, knowledge, innovative ideas, and market that are needed to broaden your product lines with minimal investment. Bonding strategically is mutually rewarding so you can also partner with a company that offers complementary products, services to enhance the quality of the existing products or develop the latest products, affordably.

7. Enhances Brand awareness
When you strategically team up with business partners with a huge customer base, you escalate the chance of enhancing your brand awareness as your logo, design and other branding aspects is now viewed by a greater number of people.

8. Builds Brand Trust
Customer’s trust in your brand will certainly grow if you create good business partnerships. If you have entered a new market and do not have a strong local presence then customers tend to doubt whether you really offer what you claim to offer. On the other hand, if you team up with well-established companies that have already proven themselves and won the trust of the customers, then it becomes easier for you to build your brand trust in the new market.

9. Helps in Overcoming Business Fears
At times, all business owners feel uncertain and worried when they face changes that can impact their business. Teaming up with great business partners ensures that you are not dealing with those challenges alone. It brings in solutions, innovative ideas, abilities, expertise, and strengths of several people to work out complex challenges and manage difficult times. This ensures your business’s longevity.

10. Helps In Boosting Sales And Revenue
You can create more than one strategic business partnership to form multiple revenue streams and improve your capacity to sell to a bigger market. The more companies you strategically join to enter a target market, the more probability you have for boosting your sales and revenue.
Strategic Partnering is the right approach for your business if:

  • You are looking for ways to sustain as well as thrive post-pandemic.
  • You are seeking to expand your business through new market development.
  • You want to cut down the cost and risk of your R&D.
  • You need new skills, expertise, and proficiency to grow and develop.
  • You desire to improve your competitiveness and beat your business competitors to win the market.
  • You are trying to set new standards in the industry.
  • You are striving to find new customers and increase sales.

How To Create Strategic Partnerships for Strong Business Growth?
If you are looking for strategic partners to build the most advantageous and stable strategic business partnership then you definitely need guidance from the experts in the field.

Our company, Dhunicorn has a global network of more than 40,000 public listed companies and private companies. We offer the best strategic business partnership opportunity to meet your needs. Our business experts can support your company to develop a successful strategic business partnership starting from the most important step of getting the right partner, model design, strategic planning till the execution and implementation stage.

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Using Chatbots To Grow Your Business

Recently, Chatbots are becoming more and more popular and important because of their efficiency and convenience. They are transforming the way businesses interact with their customers. Consumers also like them. A recent study states that nearly 74% of customers prefer chatbots for their prompt response. About 87.2% of customers say that they had neutral or positive experiences with chatbots.

Chatbots have the capacity to boost and grow a business. Let us see how they can be implemented to grow any business.

 

24/7/365 Real-time Customers Service

Good customer service is one of the most important aspects of a business. It helps in increasing revenue, improving reputation, retaining customers, decreasing customer churn, and enhancing brand awareness.

AI-based chatbots carry on real-time conversations with customers, help them with their inquiries, and resolve product/service-related issues. Humans have limitations but chatbots provide service round the clock and attend to multiple inquiries simultaneously in an engaging and personalized way.

Today, generally people prefer chatting online over calling customer support because they want fast service. Also, they do not have the patience to fill up a form and wait for someone to get back to them. They demand quick reach and immediate reply. If a business does not keep up with such demands, then it may lose its customers.

Catering to the customers 24/7, with instant replies can dramatically boost sales. Chatbots being very responsive are immensely helpful in satisfying customers, boosting sales, and growth of the business.

Example:

Amtrak, the American national passenger rail company was losing its potential customers because it could not keep up with the massive number of inquiries. So, it employed an AI-based chatbot that competently responds to five million inquiries on average a year.

It provides relevant information to inquiries of the website visitors just as human customer support would do. Apart from that, it promptly books tickets for them by asking them the place, date, and time they would like to travel and also offers them a route map for their destination.

It offers other information such as what items the passengers are allowed to take with them. It is capable of making hotel, and rental car reservations as well.

Consequently, the company could boost its booking rate by 25% as well as it experienced a 50% upsurge in user engagement and customer service.

 

Sales and Marketing

Contrary to common belief, the usage of chatbots is not limited to customer support. They can be used to promote and sell products/services as well. They also increase brand visibility and optimize the sales funnel with message applications in a sophisticated and handy manner.

Marketing is a complex part of business and has several tasks to take care of to convey the message to the end customers. Chatbots come in handy as they can be used to automate some marketing processes. Because they handle large volumes of conversations at a time, there are more possibilities of closing more sales calls. 

Using chatbots for sales and marketing is not just time-saving but also very cost-effective. They provide data for analysis which can be used to formulate effective marketing strategies and expand the reach.

They can deliver a personalized experience to the customers and create a great impression with the customers. This results in a better relationship with the customers and improved sales and conversion rates. 

Potential customers who inquire online or on social media are most often on the verge of making a purchase decision at that instant. Human customer support is not feasible round the clock. On the other hand, Chatbots are and they engage well with the customers and prevent potential customers from leaving the website with disinterest. A chatbot is capable of generating an 80-90% response rate.  They also reduce cart abandonment rates.

Chatbot automation can be used to schedule meetings with customers. They make scheduling, modifying, and canceling meetings easy-breezy and quick. Thus, they increase the chances of gaining leads and closing sales than the manual effort.

 

Lead Generation

Adopting AI-based lead generation chatbots is extremely valuable in growing a business. Such chatbots assist in knowing the prospects better by asking the visitors questions and identifying their preferences and interests, likes and dislikes. It not only grows the lead database but also segments the potential customers, which helps the marketers present the relevant and useful content at the right time so as to move the leads into the sales funnel. It also helps in lead nurturing which consequently enhances brand image and trustworthiness.

When conventional forms are replaced with lead generation chatbots, they collect the information about the leads by asking qualifying questions as well as carrying out further questioning formed on the answers to the previous questions. Also, such chatbots get more qualified leads too, so there are more possibilities for making new sales. As they are mostly found on social media messaging platforms, it is very convenient to reach wider audiences.

These chatbots are valuable in providing complete and convincing information about the products/services to the visitors who show an interest. This ensures an effective conversational lead generation.

 

Up-Selling And Cross-Selling

Chatbots can be used to gather customer data such as their previous searches, preferences, and purchase history and they can be leveraged to offer personalized product recommendations, by tracking the user behavior. They allow any business to promote to its clients through an interface as they are designed to provide answers towards a purchase and can be programmed with a flow chart to assist the users in their purchase with the information they desire.

When a visitor is unable to decide which product/service to choose, the chatbot can recommend suitable options for them to select in a non-salesy way. When a chatbot assists in shopping and retrieving the products, the shoppers need not waste their time browsing the website.

When customers navigate through the chatbot to look for a product, it recommends similar products based on what they were initially looking for, and for the undecided customers, the chatbot provides the most applicable option that suits them. Thus, a chatbot can help businesses to up-sell and cross-sell.

By incorporating up-selling and cross-selling techniques (to sell higher-end versions and complimentary items of any product, respectively) into the chatbot’s configuration, sales and profits can be boosted incredibly.

 

Cutting Down The Operational Costs

When a business grows, it needs to hire more employees for executing the business operations efficiently. This means the cost also increases as they have to be paid with remunerations and need to be trained too.

However, chatbots have no such drawbacks as they have the ability to scale with the business growth without added expenses. Yes, they need initial investment which may seem pricey in the beginning but as the business grows, the investment is worth it.

Because chatbots are designed to replace humans for certain tasks, the companies can save their substantial employee costs with the advantage of carrying out their operations 24/7.

 

Chatbot technology is evolving rapidly day by day. It is absolutely possible that in the very near future, new integrations would be incorporated into the chatbot technology which can bring more value to business growth.

Businesses must understand their shortcomings and needs and figure out which hitches can be resolved by utilizing chatbot so that they can apply its features innovatively and make the most of it for boosting profits and accelerating business growth.

The Need for Green Energy Ramps Up; Oil and Gas Sectors in the Energy Transition

“A transition to clean energy is about making an investment in our future.”Gloria Reuben

Nowadays oil and gas sectors face opposition from the public because of the environmental impact of fossil fuels.  Apart from the public, stakeholders and policymakers also express their opinions on the need for alternate energy since the world with green energy will seem significantly different from today’s world. If oil, gas and coal companies want to remain successful in their domains, they need to focus on not only surviving the low carbon energy generation but also on producing green energy.

The energy transition has become a challenging question due to the demand, social and financial future of oil, gas and coal sectors all over the world. The value of these sectors in producing next-generation energy resources and technologies will depend on how well they apply Environmental Social Governance principles to their green energy-related business models. Here, let’s see some of the best green energy sources that could be great solutions to global energy needs in the future and innovative methods for sectors in the energy transition.

Wind Energy

Wind energy, specifically appropriate to offshore and higher altitude sites, depends on the power of airflow that pushes turbines to generate electricity. The form of kinetic energy is converted into mechanical power with the power of wind turbines, and then mechanical power is converted into electricity through a generator. Mountains, vegetation and water bodies control wind flow patterns, and the wind is caused by several elements – the uneven heating of the atmosphere by the sun, rotation of the earth and variations in the earth’s surface. We can use wind energy because it is available everywhere on the earth.

Solar Power

This type of green energy source is generated using photovoltaic cells that capture sunlight and convert it into electricity. There are several benefits of sunlight in our daily lives such as Solar Electricity, Solar Lighting, Solar Heating, Solar Water Heating, Solar Ventilation, Portable Solar and Solar Transportation. As the sun is a boundless energy source, it is the ultimate approach to solving the energy needs of the world. And also, solar energy brings a number of business and job opportunities.

Hydropower

Hydropower has been the most commonly used form of renewable energy. Through the flow of water in rivers, dams and streams, we get hydropower. This type of energy is generated by capturing the energy based on the forces created by flowing water. Generally, hydropower is generated by storing water in a dam or reservoir.

Biomass

Biomass, one of the types of sustainable and renewable energy, is the fuel that is developed from organic materials such as scrap lumber, forest debris, certain crops, manure and some types of waste residues and is very useful for rural areas Biomass provides us with some other benefits that include protecting our environment and generating business opportunities.

Geothermal Energy

It is a clean and sustainable form of energy. We get this type of green energy from the thermal energy stored under the curst of the earth. It is used in more than twenty countries for heating and cooling purposes and the US is the largest producer of geothermal energy in the world.

Tidal

The least popular energy source but has the enormous capability of becoming one in the succeeding years. It can be produced in two ways: barrage generation or tidal stream generators. The power it produces is environmentally friendly and has less effect on ecosystems. 

Companies in the transition

The following energy companies, which have already started projects for the energy transition, are the major energy-focused companies and have agreed to six energy transition principles such as; 1. Public support for the goals of the Paris agreement, 2. Industry decarbonisation, 3. Energy system collaboration, 4. Development of carbon sinks, 5. Transparency and 6. Industry and trade associations.

ExxonMobil

Exxon, one of the largest international oil companies, has focused on its interest in investing in renewable energy technologies for future projects. They plan to promote well-made, high-impact policies that can advance the deployment of market-based, cost-wise solutions.  Even though the major strategy of the company revolves around decreasing greenhouse gas emissions, the company has signed an agreement to buy 2.5 million barrels of renewable diesel.

Beyond Petroleum                                                                                          

BP, the first big oil company which started renewable projects, generates energy from wind and solar. Beyond Petroleum, formerly known as the British Petroleum Company, has more than 2200 megawatts of wind capacity in the US, and invested in and built a renewable energy capacity of 50 gigawatts by 2030. It also develops bio-energy offer solutions for marine, heavy-duty transportation and aviation and a few of its most thrilling work is in venturing, where they are creating investments in a variety of smart technologies and exploring new business models.

Eni                                                                                                                                

Eni, an Italian company, has long-term goals and plans related to renewable energy. Currently, the company is coming up with two new business groups: Natural Resources and Energy Evolution. With the purpose of growing its offshore and onshore wind capacity, Eni has made partnerships with Norwegian Energy Company Equinor and GE Renewable Energy in France. With clean energy sources as an important corporate strategy, Eni, an integrated energy company, aims at achieving the entire decarbonization of its processes and products by 2050.-

Shell

Shell, one of the global groups of energy companies, uses advanced energy technologies to build a sustainable energy future. It is investing in a much lower-carbon technology such as wind and solar, new electric vehicle charging and hydrogen and an interconnected power business that will provide electricity to millions of industries, homes and companies. It reinforces global economic activity and develops the quality of life.  The total plan of Shell for renewable is to invest $500m a year in clean energy technologies.

Chevron

Chevron, with the aim of creating a better life with reliable and affordable clean energy, believes in the power of energy for a brighter future. Even though Chevron’s investments in renewable have been comparatively scant, this US company has invested in solar, wind and geothermal projects for the last two decades. In 2018, Chevron opened a Future Energy Fund with the first commitment of $100m. 

Renewable Energy Organizations and Research Centres

Research related to renewable energy research in order to invent new approaches or technologies to counter climate change is on the rise around the world. The key concept of this research is to lead the world with clean energy solutions. These are the most renowned research centres and organizations, and the companies in the energy transition use their latest technologies or methods for green energy generation.

  • American Council on Renewable Energy
  • American Solar Energy Society
  • American Wind Energy Association
  • Biomass Thermal Energy Council
  • Centre for Alternative Technology
  • Centre for Renewable Energy Systems Technology 
  • Citizen Partnerships for Offshore Wind 
  • Clean Energy Institute at the University of Washington
  • Environmental and Energy Study Institute
  • European Renewable Energy Council
  • Florida Solar Energy Centre
  • Geothermal Energy Association
  • Geothermal Rising
  • International Hydropower Association 
  • International Renewable Energy Agency 
  • International Renewable Energy Alliance
  • International Solar Energy Society
  • National Renewable Energy Laboratory 
  • Solar Energy Industries Association
  • World Bio-energy Association

Conclusion

In view of the above, we have concluded that green energy can dominate the corporate world if the oil, gas and coal sectors adopt appropriate transition measures. Green energy, which provides a cleaner alternative to many present energy sources, is the hope of the future world. These energy sources are not only good for the environment but also good for job creation. When it comes to fossil fuels, they do not provide a long-time solution to our energy needs and the related energy sources don’t create many job opportunities in this post-pandemic world. As per the statement of the Environmental Protection Agency (EPA), green energy offers several compelling environmental benefits for the future of the entire world. Hence, companies can create a sustainable energy-centred future, without polluting and damaging the entire world, but with a number of business opportunities.