Agricultural Drones: All Set to Transform Agrarian Sector

Technology is transforming every inch of our lives. Almost every sector has witnessed technological revolution and agricultural sector is no exception. Technology has gifted agrarian sector many powers, riding on which it has been able to make close to the ever-rising demand. The latest among the powers that technology has provided to agrarian sector is - Agricultural Drone.

For a layman, utilization of the drones might be limited to just spying, surveillance and bombarding terrorists' hide-outs. However, one with slightly wider knowledge can easily state the mighty utilization of the invention of drones for agriculture sector. These will ease the work of agrarian society to a remarkable extent.

The long walk of the farmers through the farm to keep regular inspection on the crop will be shortened. Drones allow a much better inspection over crop than manual one, because:

• Drones can provide aerial view of the crop, which reveals patterns that unwrap everything from irrigation problems to soil variation, even pest and fungal infestations that can't be visible to naked eyes.
• The cameras attached with the drone can click multispectral images, capture images in the infrared as well as the normal mode, which can be combined to create a reliable data to examine the differences between healthy and distressed plants.
• A drone can be programmed to check on a crop at regular intervals like: every week, every day, or even every hour.
• Drones can be affixed with the spraying equipments to provide the fertilizers, insecticides, pesticides, etc. in the crops.
• Flying drone with sound alert promises to be a better guard to scare the attacking birds.
• Also, what may attract farmers more towards agricultural drones is its price, an agricultural drone equipped with cameras will be available for less than $1,000.

Ready to Roll but with Some Rules

Earlier when the concept of agricultural drone was inching towards the launch, a roadblock disrupted its movement as FAA (Federal Aviation Administration) banned the commercial use of drones in US airspace citing breach of privacy. But recently, FAA has exempted companies who are manufacturing agricultural drones with some guidelines to follow. The guidelines for commercial drones proposed by FAA are as follows:

• Drones must not weigh more than 55 pounds
• It must fly within the sight of remote pilots
• Drones can be flown only during daylight
• It must stay below 500 feet in the air and must fly at less than 100 mph
• The minimum age limit for a person operating the drone is 17 years and pilots have to pass an aeronautics test and must be attested by the Transportation Security Administration

After proposing the rules to fly drones, the FAA has asked public to come-up with their suggestions and set 60 days deadline for final implementation, but industry experts expect the analysis of comments could take 18 months or longer before the rules are completed.

But one thing is for sure that drones are going to get clearance for agricultural use by the FAA soon.

Finally drones may end up better known as a green-tech instrument and help the agrarian sector with saving water, pesticides and harvest healthy crops.

Internet of Things: Comforting Lives Smartly

Time has surged vast changes with the assistance of internet. From a time when writing letters was the fastest mode of distant communication to the time of realtime instant messaging applications, internet has contributed enormously. This dramatic change in connectivity, and eventually, in lives is just a hint towards Internet of Things. Internet of Things is a smart connectivity between human and electronic devices.

 Now, power companies take electricity meter readings through tele-metering systems rather than visiting individual house, a doctor can supervise the condition of the patient 24x7 using devices even when the patient is at home and doctor is in hospital, vehicle-affixed terminals automatically show the closest parking space; and the sensors in smart homes turn off utilities, close windows, proctor security, and keep homeowners updated with all on the go. The scenarios that only existed in science fictions in the past are a part of reality now because of induction of the Internet of Things. With the advancement of internet and artificial intelligence technology, things are getting smarter day by day. Internet of things is powered on this concept of ‘smartness’.

Also known as M2M or Machine to Machine, Machine to Man, Man to Machine, Machine to Mobile, the Internet of Things links humans, devices, and systems. When integrated with microchips and sensors, the devices, systems or machines can think, feel, sense, and communicate with each other. Together with the infrastructure of the Internet and mobile networks, these objects get in touch with humans and enable us to admonish and control them.

Internet of Things is providing human life a greater connectivity and a supreme functionality. There is apparently no limit over what can be connected to the Internet as technology is focusing to make almost any and every device compatible with internet. Some of the examples where Internet of things is comforting lives smartly are:

• Students at Writhlington School in Somerset (UK) have used the internet of things to watch how orchids grow
• Street lights in Barcelona dim on their own to save electricity. Also, they check traffic flow and pollution levels to give feeds to central system for betterment of the city.
• Deutsche Telekom and French IT firm Medria invented a wearable collar for cows to keep them connected to the wireless internet
• Ducks in Buckingham Palace (UK) have GPS devices attached to their legs so that their location can be tracked
• Toilets at London’s Heathrow Airport report on their usage

More than just saving the human efforts, these innovations are also much better in efficiency and productivity. Internet of Things is proving itself as a boon for mankind and making their lives smarter, faster and convenient in many ways. It will be fascinating to see what else can Internet provide us in coming future.

Mobile Collaboration

Mobile collaboration is a connection on which different users are able to connect from their individual mobile devices to work on a specific activity. Mobile devices, here, are not specified to just cellphone devices, but to all the devices that are connected on a network free from wires and location fixations.

Feel this example: I need an infographic to attract customers for my latest product. I have teams of designers and content writers to do it (make it complex with freelancers). I am going to take the final call on the infographic with some advice of my marketing manager(make it complex by sending him to Lumahai beach for an official meeting). Now, it will start with to and from of emails between designers and content writers keeping me and Mr. Marketing manager in CC. Isn’t it frustrating and less productive?

Now let us take yet another example: For the same infographic, I get designers, content writers, and Mr. Marketing manager together on one app. We maybe using different devices, like: Macbook, Windows Laptop, iPhone, Android Tablet or anything. All we would need is an internet connection to collaborate together from any where using Slingshot, Zoom, or any other collaboration software, which allows instant comments, suggestions, editing and results. Isn’t it awesome and more productive? This is mobile collaboration.

Mobile collaboration is a contribution of fast-paced internet technology, because of which realtime connectivity is a very real concept. The way internet is pacing up, it will not be a shocking thing if I wake up someday and hear about an internet connection provider that offers connections faster than realtime, maybe in ideal-time. Along with internet improvement, the Moore’s law kept getting older and it allowed multiple features, such as: videos, audio, documents, communication (most importantly), etc. shrunk within a device that can fit most human palms. Smart encryption and cloud services have deployed the much needed security as well.

Why Mobile Collaboration is the Future?

I see mobile collaboration as inevitable. It has largely stolen ground of email communication, telephone calls, and even person-to-person in person meeting. Fortunately, or unfortunately, most humans are not very willing to talk in person and they see instant messaging as a better substitute for communication. Everything seems to be moving towards the mobile devices. Most of the tech enthusiasts have already adopted laptops, smartphones and tablets as their major device, and not-so-fast-with-technology are also shifting at good pace. BYOD culture is rising fast and data security with cloud (corporate and personal) getting better.

Plus, mobile collaboration is not only a corporate affair, but it is everything. Multiplayer gaming, video conferencing in classrooms, online social gathering for various causes- there is so much that mobile collaboration can deliver. New mobile devices are offering brilliant features and getting better. Honestly, mobile collaboration is helping everyone. If there is something it fails at, then I am sure a team of developers will be collaborating (possibly mobile collaborating) to get that as well done.

Business Incubators and Accelerators

Time travel a decade back and remember the starting up a business requirements. An idea shaping into a final product with a handsome amount of investment, and then taking the product to a market with its ample demand. It was never tough to get an idea, but finding investment and market was a hard nut to crack. Also, the product manufacturing time was  very high.

Welcome back to 2015, when business startup is comparatively far easier and the credit goes to specially business incubators and accelerators. These are the supporters for the businesses to shape up, perform, grow, and gain more. In other words, these are the services that help the an infant business in meeting up its needs, such as: investment, market, etc.

One can find the aim of business incubator and accelerator to be similar, and that is why these terms are, sometimes, used interchangeably. Actually there exists considerable difference in terms of their operations.

Business Incubator

Business incubators are the service provider for a business startup. They aim to create a foothold of the business in the market. Just as a new born child, business startups also require special care and friendly environment to grow into a stable business. Business incubator provides that special care and environment for a startup to flourish and learn the tactics for survival.

Business networking, management assistance, advisory, presentation skills, guidance on ways to attracting the possible finance sources, etc. are some of the services that business incubators aim to implant into the business. But generally, it does not involve a direct financial support. Business incubator, in this way, can be considered as a basic business service provider along with low cost office spaces.

The time for which a business incubator pampers a business is not certain. It is a goal oriented approach to support a business till it reaches a stager where it can look after itself. Usually, even the settled businesses, in some ways, remain associated with the business incubators to support other popping up businesses.

Business Accelerator

Business accelerators are the supporting platforms for the businesses that have passed the initial and most vulnerable stage. Business accelerator helps a business though accelerator program. Accelerator program is a financial deal in which business accelerator will directly invest an amount of money in the business and earn back from the profit. Like business incubator, there are many different ways in which a business accelerator can help a business, such as: helping in adopting better productivity methods, shaping business strategies, etc. Since, there is a direct investment of money involved, business accelerators are expected to enhance the productivity of the business. These are short term plans and are expected to last for 6 months at most. Once the accelerator program is over, the business and business accelerator will separate their paths.

Any business can require an accelerator, no matter what stage it is at. Stagnancy in productivity can arrive for any business and business accelerator is a way to overcome that. It has a simple fundamental aim- raise the growth rate. And an external investment and mind is a great way of achieving that.

Final Note

Well, if there is a straight question, which is more important, incubator or accelerator; then I would never be able to choose one. If the question arrives with a slight change as: “Which one is more important for business startup”, I would quickly pick business incubator. Similarly, for a settled business, business accelerator is the requisite.

Venture Start Up: Finance Options

As an astute business mind you may come up with a perspicacious idea to promulgate your existing business or start an altogether new business venture. Well! flourishing the existing one may not seem to be that challenging as it is when you are to start a new venture. The success of your business plan considerably depends on : To what extent your idea or business plan is insightful. That means it has to be viable and clear and should have the capacity to pique the interest of the investors so that your idea does not go to dirt because of the scarcity of capital or resources. To discuss a little about your business idea:

• It should be insightful and viable for influencing and making the investors to not only think but invest on it.
• Your business plan must dictate every step from starting to earning profit very clearly.
• There must be sufficient space for explaining your plans to pay the borrowings back to the lenders or investors.
• The strategy you are going to pursue in order to achieve your set goals has to be clearly explained.
• The audience you are going to target and the competitors you are going to compete with must also be clearly understandable form your business plan chart.
• Moreover the objectives of the venture you are planning to set up, should be showcased via your business plan.

In this way the more powerful and effective your business plan will be the more it will attract in terms of investment required to be invested in order to shape your business idea into a real business venture.

In case scarcity of financial resources is compelling you to put your great business plan or idea on hold, you may opt for any of the following options:

Your Own Funds

Market experts consider it the most convenient financing option as you are the one who understands your new venture and existing status the best. Thus, choosing the financing options also relies on you. You can use your savings for the fund. In other case, you can even sell or take credit on your personal assets, such as: mutual fund, property, etc.

Banks

Banks usually provide the financial support to the small businesses. However, no one in the market stands to bear loss and that is why banks are likely to play safe. They prefer to rely on your business history and expected future. Support from the banks can only be attained by proving that you are able to replay.

Leasing: 

 

Leasing is also an easily available and feasible means of financing your new venture. Needs of computer, office tools, phone system, building, etc. can be availed on lease to reduce the startup cost. However, on a later stage when your business flourishes, you can always think of owning them.

Business Credit Cards

These can be considered as one of the most readily available means to finance your start up and get it running. It is very beneficial and less burdensome, because the minimum payment amount is very less on credit cards. These may work as saviors, in case a lot of money is not coming in via your newly started up business venture and you are able to pay back a very little amount every month.

However, the other side of using credit cards may not be that lucrative, since in case of inability to pay the interest rates and cost get on building up and up. The other drawback is - it is always on your head untill and unless you do not pay the whole amount back.

Angel Investors

Angels are considered as the paragons of virtue. Angel investors are usually those investors who possess an abundant amount of money and are willing to invest it on the business for making it run rather making profit out of it. Retired entrepreneur or the family members of a business tycoon who possess enormous capital can also be such angel investors. Such kind of investors may look for twenty to twenty five percent returns on their investment and can prove very beneficial for your business as they usually possess great experience in business. Big companies like Google as well was supported by such angel investors in its starting up time.

Venture Capitalists

Unlike Angel Investors, Venture Capitalists are considered to be profit oriented and they usually invest in a business which they find to be already in profit and possess higher rate of return on investment(ROI). In simpler words Venture Capitalists are profit oriented and they can be lured only if you can promise for great returns in a short span of time.

These kind of investors are generally limited to certain kind of businesses so they possess great knowledge in forecasting about the possible success of your product in the market. Hence, they can assist you when it comes about strategic management of your business.

Winning a Contest

Your luck can also play a vital role in case you try it out for winning a contest and earning via winning it to finance your new business venture.

There are different kinds of business plan competitions in the market now a days, that offer a handsome amount as the winning prize. This kind of cash prize can really help you with your business plan or idea and scale your product. You also get a chance to meet great business minds during the competition that means you get certain great ideas from them apart from the handsome cash prize.

Crowdfunding

Crowdfunding is an online way to gaining attention for your project, ideas, product, cause, experience, etc. Every individual on the crowdfunding platform acts as an individual investor who invests on the basis of his own choice and liking. This practice helps you raise the fund from other users available on the crowdfunding platform to support the project. So, in a brief description one can call it a collaboration of three parties; one who presents the idea/project, the supporters (or crowd), and the crowdfunding platform (or an intermediate link between crowd and presenter).

Presales of Your Product

Presale of your product is a really effective way to accumulate the amount of money required to use as seed money for any business plan. The task of presale starts right from contacting a customer and ends up at his acquisition as your customer, in simpler words at the sale of the product. The biggest challenge in this direction is to define the delivery time and forecast the exact number to be presold.

To encapsulate, there are end number of ways, means or methods via which you can raise the funds and arrange the seed money required to start a new business venture. Above all the end result depends on the strength of your idea and the strategies opted for shaping that idea into a business set up.

Financial Re-Engineering

The technological advancement has not only shaped the technical, mechanical and electrical markets and innovations, but also the ways of handling the financial problems of any organization, sector, or market. Now the term engineering is not merely attached to technical things, but with financial as well. Financial engineering is a very popular term and very tough to take a hold on. Financial Engineering is actually using the technical aids in the form of mathematical techniques, statistics, computer science etc. to produce applicable, innovative and reliable solution for financial problems. Investment banks and other organization that somewhere deal with finance use financial engineering/quantitative analysis as regular users.

Increase in number, variety and complexity level of financial problems gave rise to the need of - Financial Re- engineering. As the name suggests, Financial Re Engineering is basically the redesigning the process and structure of a business or organization to stimulate the saturated financial growth positively and reduce the production cost or other cost effectively.

Financial Re-engineering can also be termed as:

Financial Restructuring:
Rebuilding or re constructing the financial structure can be considered as financial restructuring. It is very important to enhance the financial performance of any financial structure.

Corporate Restructuring:

It is all about restructuring the existing plans, policies, process and people in order to set the new benchmarks or achieve a defined set of goals and that too on a sustainable basis.

However, to achieve the best targets while implementing Re- Engineering, it is very important to take care of the following points:

• It is very important to focus on the organization of results, instead of tasks
• Once you think of opting for Financial Re Engineering it is very important to first identifying and prioritizing the processes of your organization. Then on the basis of the urgency it should be implemented for those processes.
• When it comes about resources, it is must to control and use them properly, even when these are dispersed, geographically. Treat geographically dispersed resources as though they were centralized.
• Apart from integrated results of different activities, these must go parallel
• Above all proper control and management of every plan and activity is very crucial to implement Financial re Engineering.

Reasons that promulgate Financial Re-engineering can be many, to mention a few:

• Increased level of external competition for an organization in the market
• Either large companies lose market share or expand their market share there would be a sure shot change in the market share of small companies. In other words in case of erosion of market share Financial Re engineering becomes must.
• When there is increased number of market opportunities.
• Continuous Poor financial performance of an organization
• There can be different reasons that require and demand the re-cementing of the financial structure or process structure of an organization in order to enhance the financial performance and efficiency.

Financial Re-engineering possesses a set of objectives, which can be:

• To enhance the productivity and veracity of the existing data capture
• To reinforce the new framework for the budget of the company
• To reduce the cost and delivery cycle for any process
• To formulate an altogether new team to perform a specific process
• To innovate and introduce the financial structures that facilitates the future project costing.
• To organize around the different processes for better performance
• To eliminate or minimize the number of teams for a process.
• To create product and service opportunities by understanding the needs of customers in a better way and creating better standards for the products.

In this way Financial Re-engineering eases the analysis and access benefit and piques better decision making for a continuous financial improvement along with a sound risk management. It minimizes the resources` consumption, envisions new strategies for accomplishing processes and ensures maximum customer value.