2022

Merriam-Webster defines ‘addiction’ as “a compulsive, chronic, physiological or psychological need for a habit-forming substance, behaviour, or activity having harmful physical, psychological, or social effects and typically causing well-defined symptoms (such as anxiety, irritability, tremors, or nausea) upon withdrawal or abstinence”. In moderation, anything can be argued as alright, depending on the parameters for what is “moderate”. But unfortunately, the youth today is highly prone to developing addictions of various kinds. This is especially true when it comes to gambling and betting addiction.  The reasons for this are many, but it is apparent that there has been increasingly easy availability of and accessibility to gambling and betting opportunities and the increased marketing of these activities targeted at young people. Gambling and betting addiction can have severe consequences, especially for young individuals, including financial ruin and mental health problems. Therefore, it is essential to be aware of the signs of addiction and seek help if necessary. Unfortunately, what might start as harmless fun can be the gateway to a lifetime of problems unless one can safely navigate around such habits. Many warning signs may indicate that someone has a gambling or betting problem. For example, they may spend large amounts of money on gambling or lie about them. They may also miss work or school to gamble. They additionally bet despite financial difficulties. If you are concerned that someone you know may have a gambling or betting problem, it is essential to talk to them about it. They may be reluctant to admit that they have a problem, but getting them to talk about it is crucial to get help. This article looks at the subject matter in a global sense. These are all facts, and this is an opinion piece. Spot the signs of sports betting addiction When it comes to sports betting, addiction can be a real problem. Millions of people worldwide are addicted to gambling on sporting events, and many will end up in debt or worse. (Choi & Lee, 2019) The first step to overcoming a gambling addiction is to recognize the signs. If you or someone you know is showing any of the following signs, then there is a problem that needs to be addressed: 1. Betting more than you can afford to lose: This is one of the most common signs of a gambling problem. If you find yourself borrowing money to place bets or using your credit card to gamble, it is time to seek help. 2. It is all you think and talk about: Another sign that gambling has become a problem is if it is all you can think about. It is time to take a step back if you constantly consider placing bets or wondering how much you could win. 3. You are chasing losses: Chasing your losses is another common sign of a gambling problem. If you find yourself betting more money to win back what you have lost, then it is time to seek help. 4. You are ignoring other aspects of your life: Gambling, if ever done, should be something you do in addition to your regular life, not something that takes over your life. If you neglect work, family, or social obligations in favour of gambling, it is time to get help. 5. You are lying about your gambling: If you hide your gambling from others or lie about how much you are betting, it is a sign that you know it is a problem. If you or someone you know is showing any of these signs, it is time to seek help. Many resources help people overcome their gambling addiction, so do not hesitate to seek help. An increasing number of youth engaging in sports betting. The percentage of youth engaging in sports betting is on the rise. This is due to the accessibility of online sports betting, which has made it easier for young people to place bets. However, the popularity of sports betting among young people is a cause for concern, as it can lead to other problems. There are several reasons why sports betting may draw young people. For some, it may be a way to make quick money. Others may see it as a way to add excitement to their favourite sports. Whatever the reason, knowing the risks associated with sports betting is essential. (Aragay et al., 2021) Addiction is one of the most significant risks associated with sports betting. When someone is addicted to something, they cannot control their urge to do it. As a result, they may bet on sports even when they cannot afford to lose the money. This can lead to financial problems and borrowing money to pay off debt, causing more deficits. Sports betting can also lead to other problems, such as gambling addiction. Gambling addiction is a severe problem that is well-documented. It can cause people to lose their jobs, homes, and families. If you or someone you know has a gambling problem, get help from a professional immediately. The dangers of sports betting addiction Most people who bet on sports do so for fun and entertainment. However, for some people, sports betting can become a severe problem. Sports betting addiction can lead to financial, relationship, and even mental health problems. If you think you may have a problem with sports betting addiction, there are some things you can do to help you overcome your addiction and get your life back on track. The first step is to admit that you have a problem. This can be difficult, but it is essential to recognize that you have a problem before you can start to address it. If you are in denial about your addiction, it will not be easy to get help. Once you have admitted that you have a problem, you can start to look for help. There are some resources available to help you overcome your addiction. There are support groups, counselling services, and even treatment programs available. (Parke & Parke, 2019) The

Your company’s internal culture could very well make or break things. Though similar in many things and several ways, we are ultimately all of us equally very different beings. So that means that the individual ethos of everyone at a company should ideally be in harmony with everyone else. This will, in turn, define, direct and sustain the larger, collective company ethos.  Of course, this so-called company culture does not happen by sheer luck, or at least not often. Being able to work together in concert tends not to occur through serendipity; more often than not, the company, through its core purpose, goals, and objectives, can communicate its culture very lucidly.  Several companies go the extra mile and take exceedingly careful steps to ensure that their company is neither missed nor ill-communicated. These days, it is common to go through a work application and discover copious information centred around company culture. Progressively, we see that leaders strive to be more intentional, inclusive, and equitable in handling any (internal) conflict or confusion.  Even though the term “work culture“ may sound informal, it does stem from a place of purposeful design. Many leaders have realised the salient truth that they may have the best-skilled workers. Yet, if a professionally toxic atmosphere at work progresses, they can forget about being able to reach optimal levels of work output.  In short, and to conclude this anecdote, social cohesion that allows bosses and managers to reprimand in love and workers to receive this cordially is precisely what the doctor ordered for steady productivity and cultivating a strong sense of ownership in company goals or the cause for which a company exists! What is company culture? So now the big question is, what precisely is company culture? According to Built in: “Company culture can more simply be described as the shared ethos of an organization. It’s the way people feel about the work they do, the values they believe in, where they see the company going and what they’re doing to get it there. Collectively, these traits represent the personality — or culture — of an organization.“ Thriving businesses have grasped the significance of culture in a company and how it can increase profits, strengthen an equitable work environment, and boost employee morale. In addition, the global pandemic has dramatically influenced how companies conduct business today. Therefore, the need to capitalise on employees and fully embrace the need for culture in the workplace is quintessential to companies. As more experts embrace working remotely, businesses are working to create a conscientious work environment that not only pinpoints the value of culture but takes the needed step to implement strategies to lay out a sustainable culture. As we peruse this, we can begin to take retrospective notes on how we have knowingly or unknowingly contributed to what our company ethos has become. For example, do the people we work with feel a sense of togetherness or purpose in what they do? Have we created a space where our activities move beyond completing assignments and checking off boxes? Employers ought to realise that they usually have access to people for most of their day (spent at work); their core focus should be ensuring that they move past the formulaic nature of work to make it more inclusive and international.  This notion of cultivating an intentional and happy place that makes for good company culture is so essential that economists have gotten involved in analysing workplace productivity when employees are happy and feeling well purposed in their work. In 2021, a study was conducted by economists at the University of Warwick. It was so conclusive that it was published in the Journal of Labour Economics. The following is a synopsis of how the study went: “This is the first causal evidence using randomized trials and piece-rate working. The study, to be published in the Journal of Labour Economics, included four different experiments with more than 700 participants. During the experiments, some participants were either shown a comedy movie clip or treated to free chocolate, drinks, and fruit. Others were questioned about recent family tragedies, such as bereavement, to assess whether lower levels of happiness were later associated with lower levels of productivity”. Professor Oswald said: “Companies like Google have invested more in employee support and employee satisfaction has risen as a result. For Google, it rose by 37%, they know what they are talking about. Under scientifically controlled conditions, making workers happier pays off.” Dr. Sgroi added: “The driving force seems to be that happier workers use the time they have more effectively, increasing the pace at which they can work without sacrificing quality.” Dr. Proto said the research had implications for employers and promotion policies. He said: “We have shown that happier subjects are more productive, the same pattern appears in four different experiments. This research will provide some guidance for management in all kinds of organizations, they should strive to make their workplaces emotionally healthy for their workforce.” Why is company culture essential? If there were doubts concerning the correlation between work culture and productivity at work, this study featured above should accurately put it to rest.  In taking another look at some numbers concerning this topic, the company TeamStage states the following as the top company culture statistics they discovered in their study:  According to the Harvard Business Review, creating a positive and healthy company culture primarily rests on these six principles: They elaborate further in the following:  Foster social connections. A large number of empirical studies confirm that positive social connections at work produce highly desirable results. For example, people get sick less often, recover twice as fast from surgery, experience less depression, learn faster and remember longer, tolerate pain and discomfort better, display more mental acuity, and perform better on the job. Show empathy. As a boss, you have a considerable impact on your employees’ feelings. For example, a brain-imaging study found that when employees recalled a boss that had been unkind or un-empathic, they showed increased activation in areas of the brain associated with avoidance

International trade chiefly involves the activities related to the worldwide exchange of goods and services to satisfy consumer needs. The said activities include acquiring, managing, and developing financial, physical, and human resources.  International Retail has a broader scope. The Wiley Online Library breaks down International Retail as the following:  “International retail is the operation of retail outlets in more than one country. The internationalization of retailing activity has two dimensions: the firm (direct internationalization) and the market (indirect internationalization).  The internationalization of retailing formats and operational systems is not dependent on international retail firms. Indirect internationalization occurs when domestic retailers adopt international practices.  When firms engage in direct internationalization it is a market-serving activity; it is not a resource-seeking activity. International retailer activity is hosted by most global markets. Entry methods most commonly used are acquisition, organic growth, joint venture, and franchising. Since the 1980s, international retail activity has been characterized by the international expansion of firms that have retailing as their primary function. Earlier forms of international retail activity were often associated with other organizational characteristics where retailing was not the primary activity in the domestic market.” The advantages of international trade and retail Some disadvantages of international trade and retail So, what are some of the drawbacks? We know that when done efficiently and adequately, global supply chains can lower your production cost, affording you a real competitive advantage.  In a World Economic Forum Article, the Executive Director of the World Food Programme (WFP) had the following to say on the effect on global food prices the war in Ukraine is having:  “You know, just when you think it can’t get any worse, it does. I mean, Afghanistan, Ethiopia, a food and fuel price spike taking place. We were already hit. And I’m sure UNICEF and UNHCR the same thing.  We were already hit right before Ukraine crisis with a $42 million increase in operational costs. We were already billions of dollars short for Afghanistan, Yemen, Syria, Ethiopia, the Sahel, let me just go around the world. And then when you think it can’t get worse, here comes Ukraine. And the difficulty here is Ukraine grows enough food to feed 400 million people on planet Earth. So when the farmers on the battlefields aren’t planting or aren’t harvesting, what impact do you think that’s going to have?  Fifty per cent of our grain, for example, wheat, comes from Ukraine. And then when you put it in the global context of Russia and Ukraine together, not even to get into the fertiliser costs and fertiliser-based products, you’ve got a catastrophe knocking and looming on the door for the fall. That will be not a price issue but a supply issue – availability of food for people around the world. And that will be a catastrophe on top of a catastrophe.” Some statistics concurring the global market The statistics on global logistics have steadily been on the rise. We know that the numbers dropped from 6 in 2019 to 5.73 trillion euros during the onslaught of the COVID pandemic in 2020. From 2021 to 2022, the numbers rose to 5.99 (in 2021) and 6.28 (in 2022). The projections for 2023 and 2024 are 6.57 and 6.88, respectively.  The graph below better and fully illustrate these numbers:  The global retail logistics market is also rising and is expected to explode in the coming years. The global retail logistics market has been projected to reach a whopping 498.34 billion by 2028 alone.  The numbers and realities on this have been corroborated by Research and Markets (reputably the world’s largest market research store). Pertinent information on their website states the following:  “The global retail logistics market size is anticipated to reach USD 498.34 billion by 2028, registering a CAGR of 11.8% over the forecast period. The new last-mile delivery mechanisms in the retail e-commerce market coupled with the emergence of the Internet of Things (IoT) in the supply chain are expected to drive market growth.  An IoT-based supply chain connects several technical devices via sensors installed on these devices and enables procuring the real-time information of numerous critical parameters such as filing rate and temperature… …Retail Logistics Market Report Highlights: Data on global segmentation of international retail and trade/e-commerce Traditionally, physical or store retail has been widely used worldwide, but increasingly, the omnichannel model, which seeks to integrate online and offline channels seamlessly, is quickly gaining ground! According to Statista, “in 2021, the global retail market generated sales of over 26 trillion U.S. dollars, with a forecast to reach over 30 trillion U.S. dollars by 2024.” Global retail sales are presently at 27.34 trillion USD. Physical retail store sales are presently at 19.86 trillion USD. And e-commerce retail sales are currently at 5.76 trillion USD, respectively.  Daniella Copolla made the following estimations in February 2022:  “Over the last few years, e-commerce has become an indispensable part of the global retail framework. Like many other industries, the retail landscape has undergone a substantial transformation following the advent of the internet, and thanks to the ongoing digitalization of modern life, consumers from virtually every country now profit from the perks of online transactions.  As internet access and adoption are rapidly increasing worldwide, the number of digital buyers keeps climbing every year. In 2020, over two billion people purchased goods or services online, and during the same year, e-retail sales surpassed 4.2 trillion U.S. dollars worldwide.” International Logistics and Retail have the solid potential for skyrocketing businesses that successfully incorporate the sector’s practices into their operations successfully and optimally. With this information provided above, we can confidently state that it is a growing market, despite the more recent global upheavals!  ♕ —- ♕ —- ♕ —- ♕ —- ♕ References Wiley online library (https://onlinelibrary.wiley.com/doi/abs/10.1002/9781118785317.weom090144) How the Ukraine war is driving up food and energy prices for the world (https://www.weforum.org/agenda/2022/03/ukraine-energy-and-food-radio-davos/) Statista (https://www.statista.com/statistics/943517/logistics-industry-global-cagr/) Research and Markets (https://www.researchandmarkets.com/reports/5390555/global-retail-logistics-market-size-share-and) Statista (https://www.statista.com/topics/5922/retail-market-worldwide/#dossierKeyfigures) Statista (https://www.statista.com/topics/5922/retail-market-worldwide/#dossierKeyfigures) Copolla, Feb 23, 2022, Statista (https://www.statista.com/topics/871/online-shopping/#dossierKeyfigures) ♕ —- ♕ —- ♕ —- ♕ —- ♕ I hope you found this article insightful and enjoyable. Subscribe to the ‘Entrepreneur In You’ newsletter here: https://lnkd.in/d-hgCVPy.  I wish you a highly productive and successful week ahead!  ♕ —- ♕ —- ♕ —- ♕ —- ♕ Disclaimer: The views, thoughts, and