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The outbreak of COVID-19 brought social and economic life to a standstill. In this study the focus is on assessing the impact on affected sectors, such as aviation, tourism, retail, capital markets, MSMEs, and oil. International and internal mobility is restricted, and the revenues generated by travel and tourism, which contributes 9.2% of the GDP, will take a major toll on the GDP growth rate. Aviation revenues will come down by USD 1.56 billion. Oil has plummeted to 18-year low of $ 22 per barrel in March, and Foreign Portfolio Investors (FPIs) have withdrawn huge amounts from India, about USD 571.4 million. While lower oil prices will shrink the current account deficit, reverse capital flows will expand it. Rupee is continuously depreciating. MSMEs will undergo a severe cash crunch. The crisis witnessed a horrifying mass exodus of such floating population of migrants on foot, amidst countrywide lockdown. Their worries primarily were loss of job, daily ration, and absence of a social security net. India must rethink on her development paradigm and make it more inclusive. COVID 19 has also provided some unique opportunities to India. There is an opportunity to participate in global supply chains, multinationals are losing trust in China. To 'Make in India', some reforms are needed, labour reforms being one of them. [ABSTRACT FROM AUTHOR]

Introduction: The experimental tobacco marketplace (ETM) approximates real-world situations by estimating the effects of several, concurrently available products and policies on budgeted purchasing. Although the effects of increasing cigarette price on potentially less harmful substitutability are well documented, the effects of other, nuanced pricing policies remain speculative. This study used the ETM as a tool to assess the effects of two pricing policies, conventional cigarette taxation and e-liquid subsidization, on demand and substitutability.Methods: During sampling periods, participants were provided 2-day samples of 24 mg/mL e-liquid, after which ETM purchase sessions occurred. Across two ETM sessions, conventional cigarettes were taxed or e-liquid was subsidized in combination with increasing cigarette price. The other four available products were always price constant and not taxed or subsidized.Results: E-liquid functioned as a substitute for conventional cigarettes across all conditions. Increasing cigarette taxation and e-liquid subsidization increased the number of participants for which e-liquid functioned as a substitute. Cigarette taxation decreased cigarette demand, by decreasing demand intensity, and marginally increased the initial intensity of e-liquid substitution, but did not affect the functions' slopes (substitutability). E-liquid subsidization resulted in large increases in the initial intensity of e-liquid substitution, but did not affect e-liquid substitutability nor cigarette demand.Implications: 24 mg/mL e-cigarette e-liquid was the only product to significantly substitute for cigarettes in at least one condition throughout the experiment; it functioned as a significant substitute throughout all four tax and all four subsidy conditions. Increasing cigarette taxes decreased cigarette demand through decreases in demand intensity but did not affect e-cigarette substitution. Increasing e-liquid subsidies increased e-liquid initial intensity of substitution but did not affect cigarette demand.Conclusions: This study extended research on the behavioral economics of conventional cigarette demand and e-liquid substitutability in a complex marketplace. The results suggest that the most efficacious method to decrease conventional cigarette purchasing and increase e-liquid purchasing may involve greatly increasing cigarette taxes while also increasing the value of e-liquid through potentially less harmful product subsidization or differential taxation. [ABSTRACT FROM AUTHOR]

In this article the author informs about the connection between small business ownership and mental health. Topics discussed include positive experiences for many small business owners, the everyday pressures and stressors and the many unique challenges of running a business can affect the mental health of the business owner; and previous failure in business has been shown to be associated with poorer mental well-being.

Background: Sugar-sweetened beverage (SSB) consumption is linked to adverse health outcomes.Objective: To evaluate the impact of the 2017 Cook County, Illinois, Sweetened Beverage Tax (SBT) on the volume of taxed and untaxed beverages sold in Cook County and its 2-mile border area.Design: Pre-post intervention-comparison site difference-in-differences study.Setting: Cook County, Illinois, and St. Louis City and County, Missouri, 2016 to 2017.Participants: Universal product code-level store scanner data from supermarkets and grocery, convenience, drug, mass merchandise, and dollar stores.Measurements: Beverage volume sold of taxed and untaxed beverages, across product categories and sizes.Results: Volume sold of taxed beverages decreased by 27% (ratio of incidence rate ratios [RIRR], 0.73 [95% CI, 0.70 to 0.75]) on average in Cook County relative to St. Louis during the 4 months that the SBT was in effect (compared with the same 4-month pretax period), with a net decrease of 21% after increases in volume sold in its border area (cross-border shopping) were taken into account. The magnitude of the decrease in volume sold across types of taxed beverages was heterogeneous: -32% (RIRR, 0.68 [CI, 0.65 to 0.72]) for soda versus -11% (RIRR, 0.89 [CI, 0.82 to 0.97]) for energy drinks, -37% (RIRR, 0.63 [CI, 0.59 to 0.66]) for artificially sweetened beverages versus -25% (RIRR, 0.75 [CI, 0.72 to 0.79]) for SSBs, and -29% (RIRR, 0.71 [CI, 0.68 to 0.74]) for family-size versus -19% (RIRR, 0.81 [CI, 0.79 to 0.84]) for individual-size beverages. There was no significant change in volume sold of untaxed beverages in Cook County or its border area.Limitation: Data source did not allow for evaluation by store type or distance of outlets from the border.Conclusion: The Cook County SBT led to a substantial reduction in the volume sold of taxed beverages in Cook County. Part of this effect was offset by cross-border shopping. Cross-border shopping was limited to tax avoidance and did not extend to untaxed beverages.Primary Funding Source: Bloomberg Philanthropies. [ABSTRACT FROM AUTHOR]

In 2019, the American Medical Writers Association administered the latest installment in a series of surveys conducted over the past 30 years that have collected data on the compensation received by medical communicators. The 2019 Medical Communication Compensation Survey obtained data from 480 freelances, including 179 who work full-time, and provides an excellent source of information on the rates being charged by independent contractors in this field and factors that may be associated with differences in those rates, as well as common expenses, business structures, and practices. Full-time freelances reported median hourly rates of $110 for writing, $85 for editing, and $100 for quality control. Rates were highest for freelances who had more experience in medical communications, those with advanced degrees, and those who were primarily writers. The majority of full-time freelances charged by the hour, rather than by the project, and 50% reported increased profitability of their business in 2018, whereas 12% reported decreased profitability. The 2019 Medical Communication Compensation Survey reflects real-world data reported by working medical communicators. The results offer a unique insight into the business of freelancing and are a valuable resource for both working freelances as well as those interested in striking out on their own. [ABSTRACT FROM AUTHOR]

Importance: Understanding the profitability of pharmaceutical companies is essential to formulating evidence-based policies to reduce drug costs while maintaining the industry's ability to innovate and provide essential medicines.Objective: To compare the profitability of large pharmaceutical companies with other large companies.Design, Setting, and Participants: This cross-sectional study compared the annual profits of 35 large pharmaceutical companies with 357 companies in the S&P 500 Index from 2000 to 2018 using information from annual financial reports. A statistically significant differential profit margin favoring pharmaceutical companies was evidence of greater profitability.Exposures: Large pharmaceutical vs nonpharmaceutical companies.Main Outcomes and Measures: The main outcomes were revenue and 3 measures of annual profit: gross profit (revenue minus the cost of goods sold); earnings before interest, taxes, depreciation, and amortization (EBITDA; pretax profit from core business activities); and net income, also referred to as earnings (difference between all revenues and expenses). Profit measures are described as cumulative for all companies from 2000 to 2018 or annual profit as a fraction of revenue (margin).Results: From 2000 to 2018, 35 large pharmaceutical companies reported cumulative revenue of $11.5 trillion, gross profit of $8.6 trillion, EBITDA of $3.7 trillion, and net income of $1.9 trillion, while 357 S&P 500 companies reported cumulative revenue of $130.5 trillion, gross profit of $42.1 trillion, EBITDA of $22.8 trillion, and net income of $9.4 trillion. In bivariable regression models, the median annual profit margins of pharmaceutical companies were significantly greater than those of S&P 500 companies (gross profit margin: 76.5% vs 37.4%; difference, 39.1% [95% CI, 32.5%-45.7%]; P < .001; EBITDA margin: 29.4% vs 19%; difference, 10.4% [95% CI, 7.1%-13.7%]; P < .001; net income margin: 13.8% vs 7.7%; difference, 6.1% [95% CI, 2.5%-9.7%]; P < .001). The differences were smaller in regression models controlling for company size and year and when considering only companies reporting research and development expense (gross profit margin: difference, 30.5% [95% CI, 20.9%-40.1%]; P < .001; EBITDA margin: difference, 9.2% [95% CI, 5.2%-13.2%]; P < .001; net income margin: difference, 3.6% [95% CI, 0.011%-7.2%]; P = .05).Conclusions and Relevance: From 2000 to 2018, the profitability of large pharmaceutical companies was significantly greater than other large, public companies, but the difference was less pronounced when considering company size, year, or research and development expense. Data on the profitability of large pharmaceutical companies may be relevant to formulating evidence-based policies to make medicines more affordable. [ABSTRACT FROM AUTHOR]

Internal marketing is used to promote a business's services to an existing patient list and includes the involvement of employees. Harry Singh expands upon the various strategies that have proved successful in helping to promote business [ABSTRACT FROM AUTHOR]

Background: Underage binge drinking is a serious health concern that is likely influenced by the neighbourhood environment. However, longitudinal evidence has been limited and few studies have examined time-varying neighbourhood factors and demographic subgroup variation.Methods: We investigated neighbourhood influences and binge drinking in a national cohort of US 10th grade students at four times (2010-2014; n = 2745). We estimated odds ratios (OR) for past 30-day binge drinking associated with neighbourhood disadvantage, personal and property crime (quartiles), and number of liquor, beer and wine stores within 5 km, and then evaluated whether neighbourhood associations differ by age, sex and race/ethnicity.Results: Neighbourhood disadvantage was associated with binge drinking before 18 [OR = 1.54; 95% confidence interval (1.14, 2.08)], but not after 18 years of age. Property crime in neighbourhoods was associated with a higher odds of binge drinking [OR = 1.54 (0.96, 2.45)], an association that was stronger in early adulthood [4th vs 1st quartile: OR = 1.77 (1.04, 3.03)] and among Whites [4th vs 1st quartile: OR = 2.46 (1.03, 5.90)]. Higher density of liquor stores predicted binge drinking among Blacks [1-10 stores vs none: OR = 4.31 (1.50, 12.36)] whereas higher density of beer/wine stores predicted binge drinking among Whites [one vs none for beer: OR = 2.21 (1.06, 4.60); for wine: OR = 2.04 (1.04, 4.03)].Conclusions: Neighbourhood conditions, particularly those related to economic circumstances, crime and alcohol outlet density, were related to binge drinking among young adults, but associations varied across age and individual characteristics. [ABSTRACT FROM AUTHOR]

Objective: There are few cost-effectiveness analyses that model alcohol outlet zoning policies. This study determines the potential decreases in homicides, disability-adjusted life years (DALYs), and victim and criminal justice costs associated with four policy options that would reduce the alcohol outlet access in Baltimore.Method: This cost-effectiveness analysis used associations between on-premise (incidence rate ratio [IRR] = 1.41), off-premise (IRR = 1.76), and combined on- and off-premise outlet density (IRR = 1.07) and homicide in Baltimore. We determined the potential change in the level of homicide that could occur with changes in the density of alcohol outlets, assuming that 50% of the association was causal.Results: Reducing alcohol outlet density in Baltimore City by one quintile was associated with decreases of 51 homicides per year, $63.7 million, and 764 DALYs. Removing liquor stores in residential zones was associated with 22 fewer homicides, which would cost $27.5 million and lead to 391 DALYs. Removing bars/taverns operating as liquor stores was associated with a decrease of one homicide, $1.2 million, and 17 DALYs. Removing both the liquor stores in residential zones and the bars/taverns operating as liquor stores was associated with 23 fewer homicides, which translated to $28.7 million and 409 DALYs.Conclusions: For preventing homicides, the strategy of removing liquor stores in residential zones was preferred because it was associated with substantial reductions in homicides without closing unacceptably high numbers of outlets. It is possible that policies that close the bars/taverns operating as liquor stores would be associated with decreases in other types of violent crime. [ABSTRACT FROM AUTHOR]

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Using dual-entitlement theory as the guide, we conducted a survey of economists from the National Bureau of Economic Research asking them a series of questions about the fairness of drug prices in the United States. Public opinion surveys have repeatedly shown that the public perceives drug prices to be unfair, but economists trained in laws of supply and demand may have different perceptions. Three hundred and ten senior economists responded to our survey. Forty-five percent agreed that drug prices were unfair when people, specifically low-income individuals, could not afford their prescription medications. Sixty-five percent oppose a dollar threshold, or upper limit, on drug prices. The economists recommend the most promising policy change would be to provide the government additional negotiating power and price controls would moderately impact investment in pharmaceutical research and development. [ABSTRACT FROM AUTHOR]

What do all successful businesses have in common? Harry Singh takes an exclusive look into the five key factors that ensure success within a business, also known as the five 'I's, and explains how information alone is not the key [ABSTRACT FROM AUTHOR]

BACKGROUND: In 1937, Ronald Coase published 'The Nature of the Firm' [1], addressing the question of why firms exist. He concluded that firms emerge to reduce costs of transactions. A 'transaction' is defined both as the action of conducting business, as well as an interaction between people. OBJECTIVE: Both senses of the term prompt the present social cybernetic analysis of the nature of the firm. Social cybernetics focuses upon the reciprocal feedback control and feedforward interactions between two or more individuals in a group or organizational setting, a process termed social tracking. METHODS: Social cybernetic principles can be used to understand how firms establish and maintain the high levels of transactional efficiency necessary to survive and remain competitive. RESULTS: Selected examples are introduced, and subjected to social cybernetic analysis, of the types of transactions that the manager of a firm is expected to engage in regularly and with a high degree of effectiveness. CONCLUSIONS: From the perspective of social cybernetics, the potential for continued market success of a firm is equated with the degree to which the fidelity of social tracking among transactional participants is developed, maintained and refined through organizational design and management. [ABSTRACT FROM AUTHOR]

The article offers information on the important aspects needed for building a healthy business. It discusses the comparison between sales and marketing, along with information on the additional activities that can amplify and supplement the needs required for building a healthy business. It mentions the importance of Google My Business Listing and the engaging audience that belongs to the business.

In the Big Data era, Information and Communication Technology (ICT), including the Internet and sensors, digitises physical activity extensively. This leads to the development of ICT Driven Innovation (IDI) which may have a strong influence on National Innovation Efficiency (NIE). The purpose of this paper is to provide insights into the impact of IDI on NIE in both advanced and emerging countries. Data Envelopment Analysis (DEA) is employed to obtain the individual score for each country. We focus on comparing IDI between advanced and emerging economies in particular. We believe that IDI is an important reason why the average NIE score is higher in developed countries than in emerging countries. Obviously, developed countries have shown good capabilities in IDI in excess of most emerging countries. This includes but is not limited to R&D expenditure across the ICT industry, ICT patents etc. Several emerging economies received high NIE scores such as China and Brazil, who also have a good performance in IDI. On this basis, we discuss the mechanism of how IDI affects NIE. ICT industry innovation, non-ICT industries innovation, and ICT infrastructure are summarised as the primary factor affecting NIE by IDI. Further empirical research is required in the future. [ABSTRACT FROM AUTHOR]

We develop a model of the optimal initial public offering (IPO) decision in the presence of learning about the average profitability of a private firm. The entrepreneur trades off diversification benefits of going public against benefits of private control. Going public is optimal when the firm's expected future profitability is sufficiently high. The model predicts that firm profitability should decline after the IPO, on average, and that this decline should be larger for firms with more volatile profitability and firms with less uncertain average profitability. These predictions are supported empirically in a sample of 7183 IPOs in the United States between 1975 and 2004. [ABSTRACT FROM AUTHOR]