Due to political reasons, Russians are traveling less to foreign countries. This is evident through market researchcarried out by the Association of Travel Agents which points out a 17% reduction in inbound tourists to Turkey. This is a result of the conditions prevailing post the crisis spurred by the annexation of Crimea. Political conditions in Turkey have also been unstable due to clashes between security forces and Kurdish rebels. In spite of this, inbound tourist arrivals from Germany has seen a ten percent growth.

In order to excel at talent management, it has been found out that compassion is an extremely important trait that business leaders must possess. While purpose and compassion are two pillars easily accepted globally, compassion gets mixed reactions. The experiences are very different in Saudi Arabia to Pakistan which is different to Turkey, USA, Denmark or Belgium. It is often wrongly considered that compassion can result in reduced productivity levels among the workforce. However that is incorrect and compassion helps in effective corporate communications.

As per business research conducted by Annenberg School of Communication and Journalism, business leaders globally are lacking in empathy. A third space has been suggested which differs from traditional engineering orMBA paths. Empathy is particularly crucial in today’s digitized business world and helps in talent management of new recruits. Empathy towards work may differ from country to country. It is different in the USA to Japan or Germany. It also encourages a more holistic 360 degree thinking. The audience too is no longer a one sided customer, but instead participates with constant feedback in the product design and development.

As per tourism consulting provided by UNWTO, nearly a fourth of worldwide travelers are today youngsters. Apparently they are much more into adventurous activities and have greater an understanding of sustainable practices. Youth also represents the fastest growing travel segment. However, number of destinations do not have packages and options specifically designed for the segment and this has to change. Youth travel includes students who are traveling for education purposes. This niche is also growing.

While business innovation is driving growth in organizations, substantial numbers of customers are extremely circumspect at the break-neck speed this is taking place in. As per market research conducted more than 90% of respondents feel than innovations are crucial yet nearly equal numbers feel this trend is going to harm their privacy levels. Respondents in Germany, USA and Australia are ones most worried about privacy. Another significant number are worried about security of transactions and data online. Also three-fifths of respondents feel that advertisements are wrongly messaged leading to fickle and faulty purchases by customers.

Art and business are often considered as polar opposites yet they share more than earlier understood. While art is often to do with the spiritual and business with the material the two can complement each other. In order to excel at business innovation, organizations need to preempt trends or create the future. Great artists such as Leonardo da Vinci, Henri Matisse, Piet Mondrian, Pablo Picasso and Damien Hirst have all created new trends in their line. Each style of art has in turn inspired business. Matisse for example showed us how existing trends can be reworked using unique techniques. Mondrian on the other hand showed us how to simplify.

Management consulting giant Accenture has taken a decision to scrap annual performance reviews from its employee assessments. Apparently, the model is not working. Instead employees will be reviewed at local destinations be it Bangalore or Singapore. Accenture has nearly a third of a million employees globally and thus these individualized reviews take up massive time, effort and cost. Rather it is preferable if employees assess themselves on parameters set by them and mutually agreed with the organization. ANZ has taken a similar call.