How Philanthropy and Entrepreneurs Are Changing The World

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04 January 2020

Business

Philanthropy and Entrepreneurs

If you have been following the news and are tuned to social media, you might have come across billionaires pledging sizable fortunes to charity. Bill Gates, Warren Buffett, and others have pledged to donate more than half their wealth to improving the condition of the less fortunate in society. You will know about how Philanthropy and Entrepreneurs are changing the world in this article.

Entrepreneurship is not only about working hard and earning millions, but it is also about feeling good about doing something valuable. Yes, you might get satisfaction from buying supercars and private yachts. However, beyond a point, all those things fail to excite you.

In this article, we will look at what entrepreneurs are doing to change their society, one step at a time. We will also discuss some lesser-known entrepreneurs who are silently engaging in meaningful philanthropy.

Entrepreneurship and Philanthropy: Relationship

The trend of entrepreneurs giving back to society is not a new phenomenon. America’s old billionaires like Rockefeller and Carnegie were famous for donating huge fortunes to uplift the deprived sections of society.

Owning and distributing is one of the key tenets of philanthropy. Entrepreneurs know that they have benefitted greatly from the society that has allowed them to succeed. They also realize that giving back to society has a spiritual and otherworldly connotation to existence.

You might see some of the top CEOs and Founders talk about meditating early morning and believing in things like ‘Karma’. In simplistic terms, it might be about feeling good about yourself. It can also be about not feeling guilty about enjoying some of the best things that money can buy.

Most of the entrepreneurs are not from lineage. They are first-generation success stories. They have seen their parents struggle when it comes to food, health, education, and other middle-class challenges. Their sense of social responsibility to philanthropy stems from their humble background and origin stories.

According to Forbes, philanthropy is about solving social problems that can help establish large enterprises. It needs disruptive ideation, innovative insights and a real zeal to engineer change. Entrepreneurs are famous for exhibiting the just-mentioned qualities.

Entrepreneurs making a real difference to Philanthropy:

Entrepreneurs

While news stories about Philanthropy and Entrepreneurs doing the rounds usually concern themselves with big billionaires, many others are doing just as much. In recent years, entrepreneurs like Matt Redhawk are trying to benefit society in multiple ways.

Matt Redhawk dons many hats. He is a writer, entrepreneur, producer, writer, and mentor. He is also a philanthropist who likes staying away from all the publicity. His publication, ‘Drought and Dreams: Stories of Resilience During America’s Darkest Time’ provides fascinating insights about American families and their struggles during periods like depression.

However, the best thing about people like Matt Redhawk is the way they are inspiring similar entrepreneurs to follow a similar path.

Conclusion

Entrepreneurship and philanthropy should be considered as a journey, rather than a destination. Rather than considering it as a goal in itself, people should think of it as a continuous process. With so much strive, struggle and destitution, everyone should definitely do their bit in alleviating the situation in their immediate society.

In this article, we looked at the intricate and varied relationships between Philanthropy and Entrepreneurs. We also looked at how entrepreneurs like Matt Redhawk are trying to change the world, one small step at a time.

If you know of similar entrepreneurs, pleas mention them in the comments section below, You can also email this article to your entrepreneur friends to inspire them to take up the path of giving.

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East Coast

What Are The Most Popular Businesses In The East Coast States?

The East Coast of the United States is a diverse region widely known for its economic competence and capitalist spirit. From the metropolises of New York to the charming coastal towns of Florida, this part of the country boasts a wide assortment of businesses that contribute significantly to its economic variety. Thus, in this post, we are going to tell you about the most popular types of businesses that are popular in this region. What Are The Prerequisites To A Favorable Business Destination? There is a huge difference between a business destination and a general destination. Many elements combine together to make thriving investment destinations. Therefore these points attract large-scale investments. There are reasons why the East Coast stats has been one of the greatest investment destinations. So, let us start with the destination to understand the topic better.  Business Friendly Policies Among the many points that help make a destination rich from the investment perspective, business-friendly policies are one of them. Moreover, the government in such a place ensures they have zero tolerance towards lethargy. They remain busy sharpening their policies to make the ecosystem suitable from the point of view of the business. They use their officials to take note of the situation or scenario from ground reality. This helps chalk out the best of policies.  Safety Offered By The Establishments Investors of different scales look for a safety guarantee because they invest their hard-earned money. Alongside it, they take every measure to ensure they provide every element to ensure that the investor's money is safe. The first thing they do is stiffen the law and order situation. They also tighten the police system of the area so that the investors find themselves and their investments safe and secure. It can help them stay ahead in their business activities. Ambiance For Innovation And Learning  Busiensses want to invest in a place where they get the best resources. It is indeed one of the core requirements of developing a business. Therefore, successful business-related states (that of the East Coast) make sure they open centers that promote education and technical expertise to the students. Moreover, these institutions create an environment for continuous research and development. In such places, the investors can easily get the desired quality human resources.  Access To Market Business organizations usually want to invest in such a place where they get the desired market for their product. When the manufacturing place gets a strong and healthy market in the vicinity, they can easily meet their requirements. This is why manufacturing plants like to invest in such a place where they get a good investment ecosystem.  The East Coast states have a combination of the best manufacturing facilities coupled with bustling and growing cities. This combination becomes a successful business destination. Furthermore, the government of these business-friendly states ensures they establish a healthy business relationship with their investors.  Top businesses in the East Coast states Plenty of all sorts of businesses have been successfully developing in the East Coast states. It fully reflects the region's economic strength and innovation. Let us see the examples of the top businesses in these states. Technology and Startups State: Massachusetts. Prominent companies: Boston Dynamics, Akamai Technologies, HubSpot, Wayfair, etc. Massachusetts, particularly the Boston area, is a technology and innovation hub, with well-known universities and prosperous startups. Many small businesses, which later turned into big corporations, started by taking small credits such as Payday Depot. Healthcare and Biotechnology State: New Jersey. Prominent companies: Johnson & Johnson, Bristol-Myers Squibb, Roche, Merck & Co, etc. New Jersey is a key player in the pharmaceutical and biotechnology industries of the United States. The state is home to major corporations and research facilities. Hospitality and Tourism State: Florida. Prominent companies: Walt Disney World Resort, Planet Hollywood International, Marriott International, Carnival Cruise Line, Hilton Grand Vacations, etc. Florida`s sunny climate and world-class attractions make it a breeding ground for tourism. Plenty of trusted hospitality and entertainment companies provide first-class services for their clients in this state all year round. Media and Entertainment State: California (East Coast presence). Prominent companies: Paramount Global, the Walt Disney Company, NBCUniversal Media (part of Comcast), etc. While primarily related to the West Coast, major entertainment conglomerates have a significant presence on the East Coast, mainly in the state of New York. Construction and Real Estate State: Virginia. Prominent companies: S. L. Nusbaum Realty Co., Boyer Landscaping, Inc., Clark Construction Group, Branch Builds, Inc., JBG Smith, etc. Virginia`s closeness to Washington, D.C., has already driven a prosperous real estate and construction industry. As of 2023, it mainly focuses on government and commercial projects. Related: 6 Top CRM for Small Businesses in 2019 Retail and E-Commerce State: Pennsylvania. Prominent companies: The Hershey Company, QVC, Dick's Sporting Goods, etc. Pennsylvania has long become home to a variety of retail giants and e-commerce companies, which greatly contribute to the state's economic strength. Education and EdTech State: Maryland. Prominent companies: Johns Hopkins University, Laureate Education, 2U, StraighterLine, Ethink Education, etc.   Maryland's proximity to the nation's capital has led to a significant concentration of various sorts of educational institutions and prominent EdTech vendors. Logistics and Transportation State: Georgia. Prominent companies: Delta Air Lines, Norfolk Southern Corporation, United Parcel Service, etc.   With its major international airport in Atlanta, Georgia plays an essential role in transportation and logistics across the United States. Food and Beverage State: New Hampshire. Prominent companies: Timberland Brewing Company, Stonyfield Organic, Lindt & Sprüngli, etc. New Hampshire's food and beverage industry is perfectly known for its high-quality products. It includes various specialty food producers and breweries. Final words Summing up all the mentioned above, the East Coast states are true evidence of the economic variety that perfectly characterizes this region. Here, everyone can enjoy a wide range of real business opportunities. Therefore, the East Coast's most popular businesses cover various sectors, which reflects the flexibility of entrepreneurs who are happy to call this region home. And now, this region of the United States continues to be a productive ground for plenty of successful businesses. Read Also: How businesses can use stock trading Tips for Small Businesses To Raise Funds for Their Projects Unveiling the Minds Behind Pinterest: Who Really Owns It?

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Application Fraud

3 Reasons Why Businesses Find Application Fraud So Devastating

There are all kinds of businesses for which individuals have to fill out applications. You might have a banking app, for instance, and someone wants to fill out an application so they can purchase a CD or open a new checking account. You might have a website set up with a paywall, and some individual is trying to apply for membership. There are many more business models where people try to fill out applications to become members, purchase things, get in line to buy new products coming out, and more. If they can fill out an application with no issues, it benefits them since they can get what they want, and it helps the business since it can generate revenue. However, application fraud does exist, and it can harm a business entity significantly. In this article, we’ll explain what application fraud is, and we’ll go over some reasons it can devastate a business if that company can’t figure out a way to identify and block it. What Exactly is Application Fraud, and Why Does It Happen? There are all kinds of ways to block application fraud, such as AI machine-learning fraud protection. Before we talk about any of that, though, you should understand exactly what we mean when we use the term “application fraud.” Application fraud occurs when a malicious individual or entity tries to sign up for a new account. They might do so on a website or through an app. They will usually use stolen or synthetic identities to do so. They might sign up for a single fraudulent account, or they might create and run programs that try to activate hundreds or even thousands of new accounts at the same time. But why would anyone do that? Profit is one reason. Someone might sign up for thousands of fraudulent accounts and then use the dark web to sell those activated accounts for a much lower price than the business would charge. Mischief is another reason. Someone might try to activate all of those new accounts because they like destroying a company and tearing down what the business has tried to build. Some hackers are essentially anarchists, and they try to demolish legitimate businesses for no other reason than because they can. Now, let’s examine three potential application fraud impacts. A Company Can Lose Money When This Happens: Let’s say that a hacker creates a program that tries to open thousands of new accounts at one time. The accounts they create give those who utilize them access to exclusive website content behind a paywall. If the hacker is successful and sells those active accounts to dark web users, they will start using those accounts. The website, or site network, can potentially lose thousands of dollars or more. If they cannot generate revenue through legitimate, active accounts, then they may have to shut down eventually. Their Site Can Crash: A hacker might also create a program to try to open up lots of fraudulent accounts at the same time, and the website has safeguards in place that can identify and nullify the attack. However, the program might be so pernicious that it overwhelms the website’s defenses. The hacker might not be able to get all of the active accounts that they wanted, but the company’s site can crash. When that happens, it might take their IT department several days to get it up and running again. They Might Have to Pay for Tons of Overtime Hours: In the scenario we just described, the company might have to pay their IT staff lots of money for the overtime hours they are putting in to get the website running once more. They might not even have a regular IT department, in which case, they will likely have to reach out to web developers or IT specialists via Upwork or some other freelancer platform. This will ultimately cost the company money, and though they might have blocked the hacker’s attempt at stealing accounts, that hacker will have the last laugh. The company must still expend both cash and resources trying to bring their site back online. Application fraud can be problematic, but entities do exist that can help companies that are dealing with it. For instance, you can reach out to an entity that has AI-enabled software that can detect these attacks as they happen. They use advanced algorithms to zero in on the attack and stop it before it can go into effect. The Role of AI in Detecting and Preventing Application Fraud  Application fraud is a problem that every business faces, regardless of size.  Whether it’s a person using fake or stolen information to open an account or a hacker trying to create thousands of fraudulent accounts at once, the impact can be significant.   And Artificial Intelligence (AI) is helping businesses more effectively detect and prevent application fraud than ever before.  But what is AI? And how does it stop fraud?  How AI Helps Prevent Application Fraud  Fraudsters often try to trick systems by creating fake accounts, using stolen identities, or running automated programs that generate multiple applications at once.   Traditional methods of fraud detection, like setting up rules that flag suspicious behavior (e.g., if someone opens multiple accounts in a short period), can catch some fraud, but they often fall short. Fraudsters are always coming up with new tricks to bypass these rules.  AI, on the other hand, also analyses but not according to strict pre-determined rules. It analyses real-time patterns and can catch even the tiniest of hastily hidden needles that may escape older systems.   Here are some ways how AI can stop application fraud:  Real-Time Detection As applications come in, AI analyses them and looks for mismatched personal details. This could be within themselves or from other sources. For example, strange relationships between entities, strange activity, or use of synthetic identities (fake identities created based on stolen/made-up information).   Since AI can analyze fast enough, it flags these suspicions in real-time and helps companies shut down a fraudster before they have a chance to attempt fraud.  Recognizing Patterns of Fraudulent Behavior  AI learns from past incidents of fraud.   For example, if fraudsters often use certain email domains or apply for accounts at specific times of the day, AI can pick up on these trends and flag them in the future.   The more data AI systems are exposed to, the better they become at spotting fraudulent behavior, even if the fraudsters change their tactics.  Blocking Automated Fraud Attempts  Some fraudsters use bots (automated programs) to create thousands of fake applications in a short time.   AI can easily spot when an abnormal number of applications are coming in from a single source. Or, when bots are generating these applications based on behavior patterns that differ from human activity.   Once it’s been determined that fraud is occurring, AI can block these attempts so that you don’t have to deal with this type of fraud further down in your process.  Improving Over Time  AI’s biggest advantage is its ability to learn and improve. The more it is exposed to fraud, the more it understands new types of fraud.   Traditional methods require manual updates and are often redundant when confronted with evolving fraud.  Read Also: Why Do Businesses Need Lawyer’s Advice? Why Your Business Needs Call Center Tracking Major financial problems that can affect a new business Why OKRs Help Businesses Grow and Improv  

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7 Ways To Improve Your Company Culture

As a business or company owner, you know a positive company culture is essential for your employee's motivation, productivity, and well-being. A good workplace culture can enhance morale, heighten job satisfaction, and inspire creativity. However, creating and maintaining a healthy and positive company culture can be challenging. In this blog post, we have gathered seven tips that will help you improve your company culture. So, dive in to learn all the details. Reasons Why Company Culture Is Important The success of a company organization depends on the internal discipline within the organization. They set disciplinary guidelines on different matters within the organization. It can help you attain the growth that you need. In this section, we understand some of the reasons to understand why the company culture is crucial for your organization. Increasing Employee Employment As we mentioned, the company culture is a set of rules that binds all the members. An organizational culture is driven by clear expectations. It, in a way, motivates and inspires the employees to be more engaged in their duties and responsibilities. It motivates the concerned people to deliver for the organization. Decreased Turnover  People who think that they do not have value are less likely to leave the organization. This is why the company must set the winning organizational culture to support the vision. Respecting the senior members within the organization, without question, is one of them. Their efforts and integration are crucial to chalk out the success of the company. Elevated Productivity Many business organizations fail due to a lack of productivity. According to the values of the company culture, the company must work consistently to increase the productivity of the organization. Organizational culture has an extremely strong impact on the organization. It binds the people working and motivates them to perform. At the same time, the organization must try its best to support its employees with the resources to increase its productivity.  Strengthening Identify Of The Brand  The company‘s organizational culture represents the public image and reputation. If a company lacks an organizational culture, it cannot stand strong in keeping its public image. Internal discipline in the organization is a must to strengthen the core values. Improved Recruitment  The success of an organization depends on getting talented people on board. One-third of the respondents in a survey opined that they would leave an organization if it did not have a good company culture. Not only this, the best candidates look to be associated with an organization with an extremely strong company culture. This is why the management of the different organizations works persistently to strengthen the company culture. Ways To Improve The Company Culture As discussed above, the company culture is one of the most important tools to eliminate the weakness and sail towards the pathway of development. This section discusses some of the top seven practices to improve your company culture. 1 - Encourage Collaboration Between Departments Team collaboration is an effective strategy for creating a healthy and positive company culture. Encouraging employees to work with colleagues from different departments can promote cross-functional learning and better knowledge sharing. It also shows that the company considers every employee as an essential asset. Online team building activities are interactive, fun, and easy to do. For instance, you can organize a virtual magic show, escape room, virtual trivia, or a company-wide game. There are many options to choose from that can help encourage collaboration between departments. 2 - Introduce A Rewards System To Recognize Employee Achievements When employees feel a sense of acknowledgment, esteem, and appreciation for their efforts, it propels them to excel even further. The implementation of a reward system can serve as a potent tool to elevate the spirit of the workforce and inspire them towards superior performance. These rewards could be monetary incentives, certificates, or non-monetary incentives like extra time off, free snacks, etc. 3 - Offer Flexible Working Hours To Allow For Better Work-Life Balance Offering a flexible schedule can improve your company's overall culture. Research shows that flexible working hours lead to higher job satisfaction and productivity. Employees can manage to work around their obligations and feel trusted and valued. In response, they feel more dedicated to their work and contribute more effectively to the organization. 4 - Establish A Mission Statement & Communicate It A mission statement is a declaration of your company's purpose and values. Establishing a mission statement can align employees with your company's vision and help develop a unique workplace culture. It can also unify your team and create a sense of belonging. Regularly sharing your company's mission statement aids employees in grasping the significance of their role in upholding the organization's vision and principles. 5 - Create An Open and Inviting Atmosphere Creating an open and inviting atmosphere can increase employee engagement and job satisfaction. This atmosphere can be achieved by providing a comfortable and ergonomic workspace, natural light, and good ventilation. A pleasant physical space can improve motivation and overall health. 6 - Establish Health & Wellness Initiatives Prioritizing your employees' physical and mental well-being can improve your company's culture. Some initiatives could include providing healthy snacks, installing standing desks, organizing office sports teams, or offering stress-management courses. Encouraging employees to prioritize their health can lead to better well-being overall. 7 - Provide Plenty Of Opportunities For Professional Development Lastly, professional development opportunities can enhance employee skills, knowledge, and motivation. It also shows that the company is invested in its employees' growth and development. These opportunities include professional skills training, leadership development courses, mentorship programs, or co-learning sessions. Unlock the Potential of Your Team: Discover the Benefits of a Thriving Company Culture Improving your company culture requires a holistic approach. By implementing these tips, you can create a more positive, vibrant, and engaging culture that promotes employee motivation, productivity, and well-being. Encouraging collaboration, recognizing achievements, establishing a mission statement, creating an open atmosphere, prioritizing well-being, and offering professional development opportunities can all help to build a healthy and positive company culture. Remember that culture is not created overnight; cultivating a healthy and inclusive workplace environment takes time and effort. Investing in your company culture means investing in your employees, ultimately leading to long-term business success. Read Also Strategies For Preventing Workplace Injuries Proactively What Are the Ways to Prepare a New Employee? How to Create an Effective Company Training Program

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