KVIMIS BLOG

Bit Coins in Online Marketing

What is a Bit Coin?

Bit coin is one of the digital currencies created online by solving complex mathematical problems. They are not created like Rupees, Euros and dollars.  Bit coins are crypto currencies created by lines of computer codes. No one controls the bit coins; there is no centralized bank which controls the production of these coins. It is a form of digital money.

 It is also known as crypto currency created by high performance computers. These currencies come with security features of cryptography like how the digital money are transferred and received through online securely. Government doesn’t have any control to these currencies.

Origin

 In the year 2009 the first bit coin was introduced by Satoshi Nakamoto a software developer. He disappeared from the world and his accounts are no longer active and his crypto currency in wallet is never spent. It was the first crypto currency in existence. Bit coins can be stored in person’s hardware which is called as the cold storage and cannot be accessed by others. But if it is stored as software in internet then there is a higher risk of losing the digital currency.

 Bit coins are controversial because there is no centralized control. It cannot be frozen or checked by any tax company or financial banks. There isn’t any law against Bit coins. The creation of bit coins will stop once it becomes 21 billion. The bit coin account has several address, it holds the details of the transaction but not the person who does the transaction. So it always remains as a puzzle in this crypto currency.

Bit coin Mining

It is a process of verifying the transactions and adding to the public block chain through which the new bit coins can be released. A person with internet connection and hardware can do this bit coin mining. The mining can be done by collecting a block of recent transactions and solving a competitive math problem. The person who solves the problem will get the reward and jumps to the next block of transaction in the block chain, such as the bit coin mining is done. Miners pay the transaction fee and solve the block continuously to release a new bit coin.

 Mining is difficult and latest mining are done by ASIC’s. Use of the CPU, Graphics cards will consume large amount of electricity and by solving Math problem the bit coins can be produced.

Bit coin in online marketing

The first purchase was done online in 2009 by bit coin. There were many ups and downs starting from those periods in bit coins. It is the most used popular currency in online marketing. Once the bit coin is installed in your smart phone or computer it will create a bit coin address. The wallets keep the secret key which is used to do the transactions and a proof from where it has come.

DELL and Microsoft are the popular companies which accept bit coins in online purchase. In this, the bit coin is a peer to peer currency to transfer online. Bit coins are very secured way of transaction which is also a cost effective way for transaction. The value of the bit coins may increase in the years to come.

It is also an emerging technology like accepting payments as bit coins in online purchase of goods. It increases the privacy among the marketers to sell things without any risk of exploitation, where there won’t be any theft to the data’s of the marketing companies. Any company that accepts bit coins should have a bit coin wallet. Nowadays many governments accept the bit coins in online purchase.

 Many countries like US, UK, China and Japan started accepting bit coins and its exchanges are in many countries. It will set a trend in the marketing industry in the years to come. Bit coins allow 300,000 transactions per day when compared to the other type of crypto currencies. It has a major benefit to the online marketers to sell their products safely with all the security features and transaction can be done very fast using the cryptography encryption.

Kaizen Approach for Management

         Kaizen Approach is applied to improve productivity, quality and efficiency of the business organizations. Kaizen is otherwise known as continuous development. It shows a systematic approach in process carried out by the companies to get a good profit. Kaizen approach generates the major profit to the companies in a secured way. It is a slow process carried out in a regular basis to give large improvements in the growth of organizations.

Kaizen Origin

     The word kaizen is a Japanese word which means a continuous development, where ‘kai’ means change and ‘zen’ means good. The kaizen approach has begun after Toyota achieved better production which is after the Second World War It shows the continuous improvement in efficiency of work from the top level employee to the low level employee.

       This process is a strong improvement of lean production model in lean manufacturing. Kaizen management has its major priority in the manufacturing industry. All the employees in this process regularly identify and rectify the problems. This process always lies on implementing new method and achieving the goal. Kaizen process always gets opinions and ideas from all the team members and implements the work. This process gives a continuous improvement starting from small improvements and then attaining higher improvements.

Advantages of Kaizen Process

Kaizen process enhances manufacturing  process

It decreases the manual error and improves the performance of work

Kaizen process is also very easy for training employees and involve in specific process.

Companies using Kaizen Approach

1. Great Western Bank

     It is a US bank from many years. Great Western Bank uses kaizen approach to minimize its processes. Opening an account in this bank is a 34 step process but by using kaizen process it has been reduced to 24 steps. It provides better service to its customers.

2. The Ford Motor Company

     Mulallay who was the former Vice President of Boeing introduced the kaizen approach in Ford. It has been an efficient process to Ford and helped them in rough times during the recession period of late 2000s.

3. Herman Miller

      It is one of the American furniture company which uses kaizen approach, which made them 500% increase in productivity and 1000% increase in quality. The chairs use 82 seconds to come in a line using this Kaizen Process.

4. Lockheed Martin

     It is one the known aero space company which uses kaizen approach. In 2010 Lockheed Martin used kaizen approach to develop its Joint Air-to-Ground missile which showed how kaizen approach can help in launching a new product.

5. The Gujarat Government

     Gujarat is one of the largest democracy in the world which uses kaizen approach. The Government conducted two weeks of training for more than 80 employees which can help their services in public sector. It showed how this approach can even improve services in Government Sector.

To conclude, the kaizen principle can be applied across all type of  industries and process to improve the overall performance of product or service.

Leadership in the Digital World

      ‘Being human in the digital world  is about building a digital world for humans’ is one of the famous saying like that the growth in digital technology has provided human life with lots of opportunities in many areas like science, economy, studies and many other fields.This digital world provides immense benefits in connecting and collaborating with the people all over the world. This growth in knowledge and technology is very powerful and gives every human a responsibility. Due to this automation of services human works are done by the digital technology.

Why Digital Leadership?

            Can all become leaders? Many cannot stand in this journey to attain the position. But one who finds a way will grab the enormous opportunities hidden in this digital world. The leadership in the digital world is a revolution. When working in an organization a leader will have all the highest visionary and creative skills to work for the betterment of the company.

            Leaders in this digital era have the tendency to learn continuously which is considered as the most important skill. In this competitive world the leader only has the mindset to share his/her knowledge and even help his/her employees to complete their work successfully.

Need of Digital Leadership

            Nowadays all humans become digital so there is also a radiant change in the technology. The business is changing in order to improve the knowledge, we have to work in a collaborative environment where there is more chance of expressing ideas and making it possible in real time. The highest level of complement and support to business makes a way to become more digital.

Transformation

            The three main skills for a digital transformation are technology, collaboration and communication.

            Keeping track of the emerging technology which makes the work easier of all humans in all the fields. Work in a collaborative environment where chance of sharing the ideas and gathering knowledge about the digital platform. Communicate with the proper media platform. Approach everyone to know the need of the digital power. Always focus on sharing and receiving.

            This mindset of the people will help them in approaching through new ideas, try new ideas, learn new things and mingle with all the people. It gives a way, shows the way from where we are and where is our destination. When all these are performed at the correct time there will be a huge growth in the digital technology.

Leaders of New Generation

            The leaders of this generation pay attention to the newer trending technology rather than thinking about themselves. Leadership is not only the responsibility, it is the source of action performed at the difficult times. Being leader is also not a easy thing, it requires lot of effort and knowledge. They have to know well about the organization where they work and perform action accordingly.

            Positive thought and carry out the team with that positivity is very important for a leader. They should be capable of working in hard and stressful environment. Leader should be very creative and be flexible to work in any situation. If they work with all these skills there is a great opportunity for them in the years to come.

            The leader is one of the important person of the community and the organization. They not only teach the employees but also trust them in what they work. Leaders will always adapt to the technology and internet of the today’s generation. The greater leaders are those who encourage others and always make the things better around them.  The trending digital technology provides lots of opportunities and growth to the younger generation.

            Digital technology growth in various fields like businesses and economics provide new services and technology growth in all domains. Make fresh thinking possible in all the profession. Building a strong knowledge in these areas will provide lots of opportunities to the new generation.

Digital Era

            Due to the growth of this digital technology there will be lots of changes in different profession. Growth of these technologies shows the various aspects to change the environment. Our world  needs lot of leaders in the future and it can be done by the leaders of today as they can teach leadership qualities to improve a person. The main thing that young leaders learn are trust and positivity.

            Always there are a lot of differences between the leadership qualities among the top executives of the organization. Top leaders always show a will to change in the digital technology of a company which helps in growth of the company in various aspects. Leadership plays as a catalyst in growth of this technology because an effective leadership is key to the growth. In this generation leaders who understand the latest technologies and take the company and carrier towards the path will attain success. Becoming a leader in this technological era is very important for personal growth and the organization's growth.


 


 

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