Latest news with #IIM
Time of India
5 days ago
- Business
- Time of India
Faking 'green credentials' can hamper brand value; discourage sustainable shopping: IIM study
HighlightsA study by the Indian Institute of Management, Lucknow, reveals that exaggerating or faking environmental credentials, known as greenwashing, can significantly damage consumer trust and brand value. The research, conducted in collaboration with multiple international universities, developed a framework to analyze consumer reactions to greenwashing using Attribution Theory and the Elaboration Likelihood Model. The findings indicate that consumers with greater environmental knowledge are more likely to critically assess green claims and react negatively to brands that engage in greenwashing. Exaggerating or faking " green credentials " can lead to a drop in brand value by damaging trust of consumers and discourage sustainable shopping , a study by Indian Institute of Management (IIM), Lucknow has found. The research explored how deceptive green marketing , also knows as " greenwashing ", can create a negative impact on the consumer trust , brand perception, and buying behaviour. Conducted in collaboration with researchers from the University of Hail, Saudi Arabia, University of Turin, Italy, Princess Nourah bint Abdulrahman University, Saudi Arabia, and Institute of Management Studies Ghaziabad, India, the research has been published in the prestigious journal, Business Strategy and the Environment. According to officials, greenwashing has become a common practice among brands to attract consumers, build a positive perception, and manipulate buying behaviour. Unlike earlier studies conducted which were not able to assess how it can affect consumer attitude towards a brand, the research team bridged this gap by studying the psychology of how consumers interpret and react to greenwashing, they said. The team developed a framework using Attribution Theory and the Elaboration Likelihood Model. This framework with an emphasis on "situational involvement", meaning the degree of personal relevance a consumer assigns to environmental issues , helped in analysing "why" and "how" people react to greenwashing. "The research team tested the developed framework on 353 consumers from the United States of America and analysed the data using structural equation modelling, a method mostly used in the social and behavioural science fields," said Sushant Kumar, Assistant Professor, Marketing Management, IIM Lucknow. Kumar said that the study found that greenwashing does not just fool people; it also damages brand trust and discourages sustainable shopping. "Greenwashing is dangerous for brands, but consumers appreciate green claims . A business' green claims should be substantiated by evidence that can be verified by consumers. When consumers grow sceptical about a brand exaggerating or faking green credentials, their positive feelings about the brand drop," he said. "People with greater environmental knowledge are more likely to critically assess eco-claims made by the brands and react more strongly," Kumar said. The team now plans to explore several other aspects of consumer behaviour such as recommendation of a brand or product involved in greenwashing. The team also plans to study the consumers' sentiments while consuming green brands and later discovering false claims by the brand.
Hans India
5 days ago
- Health
- Hans India
Whistleblowers expose rampant quackery in wellness, cosmetic industry
Hyderabad: A group of whistleblowers, including Purnima Mandava, advocate Hanumanth Rao, public analyst Srinu, and evidence presenter Pawan, exposed the alarming rise of quackery and medical misrepresentation in the wellness and cosmetic sector in Telangana. Addressing the media on Tuesday, the speakers presented evidence of fake doctorates, impersonation through media branding, and procedures being performed by unqualified technicians instead of certified medical professionals. A widely circulated video involving actor Ali – misled by someone falsely claiming to be a doctor – was cited as a key example. They emphasised how unchecked media promotion and the false use of medical titles have endangered public safety and created mass confusion. The speakers also highlighted misleading GST billing practices and detailed how end-to-end cosmetic and wellness procedures are often conducted by unqualified individuals in the absence of medical oversight. Concerns were raised about the use of social media influencers to discredit whistleblowers and silence public criticism. Legal action, including Public Interest Litigations (PILs) and complaints under broadcasting and consumer protection laws, is being planned. This citizen-led initiative is supported by professionals from diverse fields – doctors, entrepreneurs, IIT and IIM alumni, tax experts, and public health advocates. The group stressed that this is not a business rivalry, but a collective effort in the public interest to restore ethics and accountability in the wellness and cosmetic industry. They reaffirmed their commitment to protecting consumers and challenging unsafe practices carried out under the guise of medical expertise.
India.com
6 days ago
- Business
- India.com
No Need For Degree: Earn lakhs without…, these five career options require only…
No Need For Degree: Earn lakhs without…, these five career options require only… Skill Based Jobs: Nowadays, companies are more focused on hiring employees with extra skills alongside their conventional degree. More focus is being given to skill-based education from the school level itself so that students are job-ready from an early age. Students passing out from top-level institutes like IIT, IIM are also focusing on startups instead of jobs. If you don't want to study further after completing 12th or graduation, then you can develop any skill that can lead you to a high-paying job. Know about 5 such career options in which you can get a job even without a full-time degree. Digital Marketing Specialist Students can do digital marketing course that includes SEO, social media management, content marketing, and PPC advertising. It is best for freelancing or full-time jobs. Training: Several courses are available online for the period of 3-6 months. Students can choose – Coursera, Google Digital Garage, HubSpot or YouTube tutorials. Salary: Starting salary is Rs 20,000 to Rs 50,000/per month, Experienced digital marketer can earn upto Rs 1 lakh+/per month. Those who are interested in photography, can choose it as their profession. They can become – weddig photographer, wildlife photographer, or product photography. Skills: students should learn camera handling and photo editing. They can check out – Lightroom, Photoshop, and creative approach. Training: 3-6 months photography course and then an internship with a professional photographer. Salary: Rs 10,000-Rs 50,000 per project (wedding/event); Experienced photographer can earn upto Rs 1 lakh+/month. Event Planning/Wedding Planning (Event Planner) The events planning industry, including weddings, corporate functions, and other celebrations, thrives in India due to consistently high wedding demand. Skills: Good communication skills, creativity and networking. Training: 3-6 months Event Management Course (NIEM, EMDI) and then an Internship in an event company. Salary: Rs 10,000- Rs 80,000 per event; Experienced Rs 50,000+/month. Content Writing/Copywriting Students can write for websites, blogs, ads or social media. Suitable for freelancing. Full time job options also available. Skills: Good English (or Hindi) writing skills, creativity and understanding of SEO. Training: Free/paid courses (Coursera, Udemy) or self-learning (Medium, Grammarly). Salary: Rs15,000 to 40,000/month; freelance Rs1-Rs5 per word. For designing websites and apps students need to learn HTML, CSS and JavaScript. They can set up a career as a web developer. Skills: Coding (HTML, CSS, JavaScript) and web design tools (WordPress, React). Training: 3-6 month bootcamps (Coding Ninjas, Apna College) or free resources (freeCodeCamp). Salary: Starting Rs25,000-Rs60,000/month; Experienced Rs1 Lakh+/Month.
Mint
6 days ago
- Business
- Mint
Faking green credentials can hamper brand value; discourage sustainable shopping: IIM study
New Delhi, May 27 (PTI) Exaggerating or faking "green credentials" can lead to a drop in brand value by damaging trust of consumers and discourage sustainable shopping, a study by Indian Institute of Management (IIM), Lucknow has found. The research explored how deceptive green marketing, also knows as "greenwashing", can create a negative impact on the consumer trust, brand perception, and buying behaviour. Conducted in collaboration with researchers from the University of Hail, Saudi Arabia, University of Turin, Italy, Princess Nourah bint Abdulrahman University, Saudi Arabia, and Institute of Management Studies Ghaziabad, India, the research has been published in the prestigious journal, Business Strategy and the Environment. According to officials, greenwashing has become a common practice among brands to attract consumers, build a positive perception, and manipulate buying behaviour. Unlike earlier studies conducted which were not able to assess how it can affect consumer attitude towards a brand, the research team bridged this gap by studying the psychology of how consumers interpret and react to greenwashing, they said. The team developed a framework using Attribution Theory and the Elaboration Likelihood Model. This framework with an emphasis on "situational involvement", meaning the degree of personal relevance a consumer assigns to environmental issues, helped in analysing "why" and "how" people react to greenwashing. "The research team tested the developed framework on 353 consumers from the United States of America and analysed the data using structural equation modelling, a method mostly used in the social and behavioural science fields," said Sushant Kumar, Assistant Professor, Marketing Management, IIM Lucknow. Kumar said that the study found that greenwashing does not just fool people; it also damages brand trust and discourages sustainable shopping. "Greenwashing is dangerous for brands, but consumers appreciate green claims. A business' green claims should be substantiated by evidence that can be verified by consumers. When consumers grow sceptical about a brand exaggerating or faking green credentials, their positive feelings about the brand drop," he said. "People with greater environmental knowledge are more likely to critically assess eco-claims made by the brands and react more strongly," Kumar said. The team now plans to explore several other aspects of consumer behaviour such as recommendation of a brand or product involved in greenwashing. The team also plans to study the consumers' sentiments while consuming green brands and later discovering false claims by the brand.
India.com
24-05-2025
- Business
- India.com
Meet man who studied at IIT, IIM, owned business empire worth Rs 35000000000 now to remain in jail for 20 years due to…
Meet man who studied at IIT, IIM, owned business empire worth Rs 35000000000 now to remain in jail for 20 years due to… We've all grown up hearing stories of people rising from poverty to wealth and success. However, some stories leave you in awe. This story is full of turns and twists. This individual excelled across several domains, including banking, business, and engineering. Despite being an alumnus of IIT and a graduate of IIM, he is jailed for 20 years due to….Well, he is R. Subramanian, the visionary behind the retail chain Subhiksha. The distinguished IIT graduate and IIM alumnus was found guilty by a special court in Chennai of defrauding hundreds of investors, according to the court ruling on November 20, 2023. The court handed him a 20-year prison sentence. It all started in May 1991, when Subramanian took his first step into the world of business by founding Viswapriya, a financial services company. Soon the venture began to gain momentum, drawing in major investors with its promising schemes. With no backing and starting from zero, Subramanian relied on nothing but hard work and belief in his vision. Over the years, that relentless drive paid off leading him to open an impressive 1,600 outlets across India. Going by a Business Standard(2015) report, Subhiksha commenced its first outlet in Chennai in March 1997 with an initial investment of $1 million. By March 1999, the company had expanded to 14 stores in Chennai, and by mid-2000, the count had risen to 50. By 2006, the brand had made its mark in states like Gujarat, Delhi, Mumbai, Andhra Pradesh, and Karnataka, with 420 stores up and running. Just two years later, in October 2008, Subhiksha had become a household name, with 1,600 outlets offering everything from daily groceries and fresh produce to medicines and even mobile phones. If media reports are to believed, the company's worth had reached Rs 3500 crore by then. Moreover, he was once trusted by Azim Premji, ICICI Ventures and Kotak Mahindra Bank. However, in a dramatic twist, things changed. Subramanian became involved in a web of financial misconduct, using investor money in questionable ways and making promises of high returns that couldn't be sustained. In 2023, the truth came to light—he admitted to a Rs 137 crore fraud. The fallout was severe: he was sentenced to 20 years in prison and faced hefty fines. This marked the tragic downfall of Subhiksha, a once-thriving retail dream that came crashing down. His involvement in financial misconduct led to investor funds being diverted through shell companies, leaving 587 investors still awaiting their refunds. It is to be noted that the court has levied a Rs 8.92 crore fine on him and imposed a collective Rs 191.98 crore penalty on the involved entities. Of this, Rs 180 crore has been designated for compensating affected depositors. The court has ordered the funds to be transferred to an authorized body, responsible for verifying investor claims and ensuring proper distribution.
