American International University-Bangladesh (AIUB) Faculty of Master of Business Administration Report on Strategic Online Business Communications of Daraz, Byju's Evaly, Trans fast. Submitted To: Prof. Dr. M. Mahmodul Hasan Faculty of Business Administration , AIUB MBA/EMBA Program, AIUB. Submitted By: Date of Submission: 30 July, 2019 i Letter Of Transmittal Date: 30-07-2019 Professor Dr. M. Mahmodul Hasan Faculty of EMBA/MBA Program American International University- Bangladesh, Subject: Submission of Term paper Dear Sir, With due respect, we the students of MBA Program have reported on “ Strategic Online Business Communication of Daraz,Byju,Evaly,Transfast ” under the course: Business Communication. Though we are in learning curve, this report has enabled us to gain insight into the core fact of. So it becomes as an extremely challenging and interesting experience. Thank you for your supportive consideration for formulating an idea. Without your inspiration, this report would have been an incomplete one. We would be thankful once again if you please give your precious advice on our effort and oblige thereby. Yours’ sincerely, Name Student Id SheekMashruraSifatan 19-91286-2 FahmidaRahman 19-91271-2 FaezaMahazabinMaliha 19-91365-2 SamihaGulshanAra 19-91323-2 Signature ii Acknowledgement At first, we would like to convey our sincere gratitude and heartfelt thanks to our honorable course teacher of Business Communication Professor Dr. M. MahmodulHasan for his overall guidance, understanding, patience and most importantly his student friendly approach during our studies at AIUB. We consider ourselves very fortunate for being able to work with a very considerate and encouraging professor like him. He has given us the opportunity to conducting the term paper on "Strategic Online Business Communication of Daraz,Byju,Evaly,Transfast”.In the process of preparing the term paper, we received valuable inputs, guidance, assistance and instruction from a number of respected persons. We would like to express our gratitude and sincere thanks to them for their immense help and enormous cooperation. At last we would like to express our profound thanks to our respected teacher Professor Dr. M. MahmodulHasan for his kind consent and given practical orientation of conducting such a kind of assignment and helping in preparing the term paper which will be helpful and worthy for our future career. On behalf of Team Kung fu Panda Business Communication MBA Program iii Executive Summery: Daraz is a chinsesowned online market place and retailer which operates in South Asaisan markets . It was found in 2012 by a German venture capital company Rocket Internet. Hard working in passion and like to take challenges on new responsiblilitycurrenty working on an E- commerce and this the reason I know all the produce of E- commerce .Good thing is that new marketing opportunity for daraz and offer recommend on how it can be implement. Daraz Bangladesh change and set their plans in weekly depending the upcoming event basis like offers, discounts, double taka voucher etc. Therefore customer always found something new here and that keep coming and do shooping at darazwedsite. Mobile learning start-up Byju’s has carved a niche for itself in the Indian edtech space, eyeing a billion-dollar valuation this year following a profitable last quarter. Its multimedia app, launched less than two years ago, has caught on among schoolchildren thanks to its strong positioning of learning as fun. The company had started out by teaching candidates of competitive exams in 2007-08. But the realisation that the pressure of cracking competitive would be eliminated “if one learns the concepts in the cognitive years” helped the company to come up with the plan. iv Evaly, a newly launched ecommerce startup says it has developed a logistics model that can solve the problem effectively and efficiently.Evaly says it has found a silver bullet to solve the logistics problem that has become a challenge for many e-Commerce players in Bangladesh. It says its model will improve efficiency, reduce cost and will be able to ensure nationwide coverage from day one.EvalyXpres will allow commuters to deliver goods picking them up from the designated station.These commuters will be verified members of Evaly. For each delivery, they will get a commission. Transfast is an international money transfer and cross-border payments company with headquarters in New York and additional offices in the UAE and the Philippines. The company is a provider of multi-currency, cross-border payments solutions for consumers and businesses around the world. Remittances are processed through its wholly owned direct-to-bank network, and the company offers 200,000 cash payout points across 120 countries. Transfast is very transparent on its exchange rates and fees. your exchange rate is locked in once you begin the transaction and are good until funds are released to recipient. Fees transfast charges is clearly shown on transaction and is updated with every option you choose. The total amount you see on your transaction is what you pay, not a penny more v Table of contents: Contents Page No Definition of business communication 01 Overview of Daraz.com.bd 02 Daraz’s front model 03 Daraz’s Back model 04 Daraz income source 04 Technology uses by Daraz.bd 06 Ethics of daraz.bd 07 Recommendation 08 Overview of BYJU’S 09 Font model of Byju’s 10 Back model of Byju’s 11 Income source of BYJU’S 12 Revenue growth of BYJU’S 13 Technologies of Byju’s 14 Ethics of Byju’s 16 vi Recommendation 16 Overview of Evaly 17 Evaly’s Front model 18 Evaly’s back model 19 Income source of Evaly 20 Technologies uses by Evaly 20 Ethics of Evaly 21 Recommendation 22 Overview of transfast 23 Front model of Transfast 23 Back model of Transfast 24 Income source of Transfast 25 Technologies uses by transfast 25 Ethics of transfast 27 Recommendation 27 Compare and contrast 28 Conclusion 29 Refferences 30 vii Definition of Business communication: The word ‘corporate’ originally stems from the Latin words for ‘body’ (corpus) and for ‘forming into a body’ (corporate), which emphasize a unified way of looking at ‘internal’ and ‘external’ communication disciplines. Corporate communication is the process of facilitating exchange of information and ideas between the internal and external groups and individuals that have a direct relationship with an enterprise. It is concerned with communication management of the modern corporate houses from the stand point of sharing knowledge and decisions from the enterprise with investors, employees, suppliers, dealers, customers, media professionals, government officials, members of the community and other stakeholders of the organization. 1 Chapter 1 : :Business Communication Practices of Daraz.com.bd (a): Overviewof .Daraz.com.bd: In May 8,2018,Alibaba, the China-based global ecommerce giant, has acquired Daraz Group, a leading e-commerce company in Bangladesh and several other South Asian countries.Daraz Bangladesh create an online store, take the product, take picture, develop content, upload them, promote them by push and pull marketing, take orders from customer, verify and source the product from the seller, pick and pack the product and send it for delivery, collect the cash and disburse the payment to seller account. All these activities are done for some commission. As a startup Daraz Bangladesh is getting 100% fund from its parent company. But the revenue from Daraz Bangladesh regular sales increasing daily and they are expecting to meet the breakeven with in 2019. In Bangladesh the whole e-commerce industry is in growing stage. Customer are changing their buying style and becoming more and more dependent on technology. But as we all know Bangladeshi market is very different with its unique customer base. The whole sector are facing different challenges as like Daraz Bangladesh. But all the obstacle can be overcome by giving better service and diversified service for shopping experiences.Daraz is a business to customer (B2C) model’s venture of Rocket. It officially started its journey in 2015. For Bangladeshi people, it was the first time when a venture introduced this model, which seemed similar to Amazon. Daraz was the 4the-commerce site in Bangladesh beside Click BD, Ekhanei and OLX. It started its journey with brands like; Yellow, Noir, Symphony, The Body Shop, Huawei, Samsung, Walton, Aranya, 6 Degree Mobile, ShadaKalo, Apple, LG, Fastrack, MAC, Nikon, Ecstacy, Panasonic, Doors. Now it has all the renowned brands in its website and a huge number of sellers. Mission: The company’s mission is to become world’s largest e-commerce platform outside USA and China. The company identifies new business models, untapped markets and entrepreneurs. Nurture them and try to establish the business. Vision: Their vision is to capture the maximum share of consumer online shopping expenditure in the market. 2 Daraz’s front model: 3 Daraz Back Model: Call center W1 Small Inventor Agreement document Seller W2 Daraz.bd Consumer W3 Large Inventory Daraz Strategies for Generate Income (Source of Income) : Daraz Bangladesh Limited is a startup company which is being funded by the parent company Rocket Internet. Daraz Bangladesh Limited identified the breakeven period of four and a half years. As they set their business model based on Amazon, it encourages small and big sellers to sell through a common online market based platform. Daraz is generating revenue through the sales of products from its websites. Sellers sign a contract paper by agreeing on commission based sales. Those commissions from each and every sale from Daraz website are earning money for the company. Since its inception Daraz is ever growing. The way Daraz is increasing its seller number and order number; I feel it would be a matter of time for this company to reach its break even.Daraz generates its revenue only through as selling products of other vendors to the 4 consumer and charging a percentage of the selling price of the sold products. As a startup DarazBangladesh is getting 100% fund from its parent company. But the revenue from Daraz Bangladesh regular sales increasing daily and they are expecting to meet the breakeven with in 2019.The top 10 competitors in Daraz.com.bd's competitive set are ShoppersBD, Priyoshop, Gift Ghor, Ajkerdeal, ClickBD, Iferi Store, Ajker Offer, Aponzone, Bikroy and Parardokan. Together they have raised over 0 between their estimated 415 employees. Daraz.com.bd's revenue is the ranked 8th among it's top 10 competitors. The top 10 competitors average 2.6M. Since Daraz.bd was founded in 2012, it has participated in 1 round of funding. step-01 Pay the rest of the payment to seller Daraz offer price for products Daraz deduct it's commission as per the agreement Step-02 The products send to consumers Daraz Collect the money after delivery from consumers Figure 1:Daraz.Bd Business process 5 Figure 2:Traffic rank for www.daraz.com.bd is calculated using both average daily visitors and pageviews worldwide. Technology and software application uses in Daraz.bd : Web 2.0.:Daraz uses web 2.0.It helps them to deal better within their own organization; externaly with their customers;and their suppliers ,partners outsides experts. It allow them to make more profit, lower costs and better access to knowledge. Blog:Daraz has own their blog site they are benefitetd in many ways from it. They have more traffic and visitors it also converts those traffics into leads and in the future they turn into promoters. They answer all their customers, question and queries and build a long term relationship with them. web technologies uses by Daraz: JavaScript:JavaScript is a lightweight, object-oriented, cross-platform scripting language, mainly used within web pages. jQuery :5.0.2: jQuery is a JavaScript library that simplifies HTML document traversing, event handling, animating and Ajax interaction. Originally developed by John Resig. HTML5 : Daraz uses HTML5 it is the fifth revision of the HTML standard. Web server Tengine: Tengine is an open source web server based on Nginx and originated by Taobao. External CSS: External Cascading Style Sheets define style rules in a separate CSS file. Embedded CSS : Embedded Cascading Style Sheets define a set of style rules in a <style> element within a web page Weak ETag : A weak ETag is an HTTP header field for validation of cached web pages, that indicates a semantically equivalent page in the cache. 6 Ethical Theories of Daraz : Ethical theory servey as the foundation for ethical solution to the difficult solution people encounter in life.Here are few theories of Daraz: Products are same as promised: Daraz follow this ethic.They try to deliver same product as they promise to their customers. This is one of the important ethics of Daraz. Punctuality: Darazbeleifs in fast response to their customer query and fast delivery. This is also a main ethics of them. They maintain punctuality and this is also main reason for their success. Responsible for CS: Daraz is also responsible for their customer service. They are trying to solve their customer query and problem as soon as possible.And they are trying to response as soon as possible. Virtue Ethics:This point of view assumes that virtue is a central benchmark for all ethical behavior. What is meant by virtue in this context is a desire to perform a certain act as a result of deep contemplation on the value of that act. To make this act virtuous is to perform it with excellence. As a result, we have a deep contemplation of the value of a certain behavior or decisions, which we apply great practice and consideration. Following this, we can approach the perfect execution of that act or behavior through our rational minds. Communitarian Ethics:Daraz maintain communication ethics with their customer.In this perspective, the individual decision-maker should ask about the duties owed to the communities in which they participate. This is a relatively simple frame of reference, where the individual decision maker will recognize the expectations and consequences of a given decision relative to the needs, demands and impacts of a certain preferred community. 7 Recommendation:Here are some recommendations for Daraz.bd.com• To emphasize on more online Daraz Bangladesh should start online payment process. • They should do some real market survey on e-commerce and customer demand. • Daraz should invest more on logistics and infrastructure development. • Daraz should be more interactive with other market stakeholders. • They should make their B2B channel. • Daraz invest so much investment on online platform but in Bangladesh as it’s a developing country they should also in offline. 8 Chapter 2:Business Communication Practices of BYJU’S (b): Overview of Byju’s: BYJU’s is India’s largest Ed-tech company and the creator of India’s largest K12 learning app which offers highly adaptive, engaging and effective learning programs for students in classes 412 (K-12) and competitive exams like JEE, NEET, CAT, IAS, GRE and GMAT. Today, BYJU’s has over 6.5 million downloads, 3 lakh annual paid subscriptions and sees addition of 30,000 students every month. With an average time of 40 minutes being spent by a student on the app every day, the BYJU’s app is making learning enjoyable and effective. Renewal rates are as high as 90%. Launched in 2015, BYJU’s has become the most loved and preferred education app for students across age groups. BYJU’s Delivering the world class learning experience, BYJU’s is paving the way for new-age, geography-agnostic learning tools that sit at the cross section of mobile, interactive content and adaptive learning methodologies. In spite of the adverse critical opinion and competition from other player (including Edtech startups and traditional education firms), the app has enjoyed tremendous popularity. Mission: At BYJU’s, their mission is to help children fall in love with learning. Their learning products have enabled millions of students across the globe to take the initiative to learn on their own. Vision :BYJU'S vision was to complete learning experience that integrates classes from the best of the teachers, assessments and assignments which are personalised for every student, along with in-depth analysis and recommendations. 9 BYJU’S front model: 10 BYJU’s Back Model: BYJU’S The learning app Customer Place product Inquery Access order status via MR Sales representative Sales manager Finance department Logistic Head Logistic team Print pack and send the delivery Handle custome -r Inquery Assign leads to sales team Verify sales transacti -ons Access The confirm orders Contact the lead Update lead status Track sales activity of assigned Once fulfilled update the order Track shipments Assign shipping task 11 BYJU’S Strategies for Generate Income (Source of Income) : BYJU’s follows a fermium business model.This model is a pricing strategy which offers a product for free with extra money being charged for utilizing features of the product. • On an average, BYJU’s annual fee for the k-12 app is Rs 10,000. This app forms a major part of the company’s revenue. • However, there are other packages for offline coaching as well. Approximately 80000 or more is charged for a four-subject package. The online course is included in the offline model. • According to BYJU, videos are the biggest source of their advancement. These videos help them in advancing towards their goal thereby contributing to successful conversions. The videos are free for the first 15 days after which the user has to pay in order to continue services. • The impact of their success is gauged by two measures namely engaging content and the retention. For instance, when a student spends a substantial amount of time on a particular video, the value created will make a parent opt for the subscription. The second measure comes into effect when the company is able to retain their app user year after year thereby leading to a renewal of the subscription. • According to BYJU, the secret behind their success is their strong business model which was enhanced consistently according to the changing trends. The company reportedly utilizes 20% of its revenues for marketing campaigns which gives the company a substantial ROI. This is a good amount spent on advertising when compared to many companies who just spend 5% on their publicity. • 12 Byju’s Revenue Growth BYJU’s has exhibited substantial growth as far as revenue is concerned. The company started with a meager amount of INR 2 lakhs and it has reached 120 crores today. Revenue earned by the company through all these years is as follows: • • • • • • 2012- 4 crore 2013- 12 crore 2014- 20 crore 2015-48 crore 2016-120 crore 2017- 2.5x revenue expected 13 Technology uses in BYJU’S: BYJU’S chose Amazon Web Services (AWS) as the cloud platform for its website and mobile app. “Many of our team members had used AWS previously, so we were familiar with the technology, and we knew it could help us scale easily,” says Ramachandran. “AWS is also very simple to configure. In just a few weeks, we moved the BYJU’S website, our apps, and a video pipeline to AWS.” BYJU’S runs its website and mobile apps on Amazon Elastic Compute Cloud (Amazon EC2) instances. The company uses Amazon Relational Database Service (Amazon RDS) for PostgreSQL as its primary database service, and it stores presentations and other educational content in Amazon Simple Storage Service (Amazon S3) buckets. For data analytics, BYJU’S takes advantage of the Amazon Redshift fully managed data warehouse to analyze app and website user data through the company’s existing businessintelligence software tools. Using Amazon Redshift, BYJU’S can evaluate student feedback and capitalize on those insights to provide a more personalized learning experience. “We can discover more accurately how students are actually using the app or if they’re watching a learning video all the way through, for example,” says Ramachandran. “Based on the results, we can more directly map learning content to individual students’ needs or preferences.” 14 Ethical Issues Related to theBYJU’s: Employment Practices: Work conditions in a host nation are clearly inferior to BYJU’s home nation,should companies apply: -Home country standards -Host country standards -Something in between. Environmental regulations: BYJU is basically a learning app. But they have a different program called genetically modified organisms and these are the ethics they follow: • • • Introducing genetically modified organisms into the ecosystem could have unpredictable results. Claiming the patent rights is another problem that has cropped up for the genetically modified organisms which are created for meeting food and medicine requirements and other public services. India is known to cultivate 27 varieties of Basmati, a rice variety known for its unique flavor, fragrance and long grains. However, an American company crossed the Indian Basmati with their semi-dwarf varieties and claimed it to be the ‘new’ variety. The 15 company even got the patents rights for the same without any compensation or authorization from the respective country or the farmers. This is known as biopiracy. Bio piracy is commercial exploitation of naturally occurring or genetically modified bioresources by companies or organizations without taking permissions and rights from the concerned party and without making the compensatory payment. This would severely affect the biodiversity of the concerned areas and harm the indigenous livelihoods. The developing and the underdeveloped parts of the world such as India, Africa, etc. have a rich biodiversity. They have traditional knowledge of their bio-resources. In contrast to the industrially developed nations, they have poor biodiversity and strong financial status. Thus, laws should be made by the developing nations to prevent the exploitation of their resources. The Indian government took an initiative in this aspect by setting up the GEAC (Genetic Engineering Approval Committee) under the Environment Protection Act, 1986. This body makes laws and rules for the creation, use, import and export and storage of genetically modified organisms. • • • • Recommendation: Here are some recommendations for BYJU’S• • • • • BYJU’S should be more focused on their offline course packages BYJU’S should concentrate on their video programs because their main success are comes from their videos. BYJU’S should be more interactive with their customers. BYJU’s need to developstabilized network for content delivery from the studio to the portal and on to end users across the countyPost-demonetization BYJU’s existing PRI telephony setup was not able to support their large call volumes. So, they should develop their technology. 16 Chapter 3:Business Communication Practices of Evaly (c): Overview of Evaly : E-valy is an e-commerce site which will be capable of providing every kind of goods and products from every sector to every consumer located in Bangladesh. The world’s market place will be only finger-tips away for any customer in possession of a smartphone/computer and an internet connection. They will be able to purchase everything; from a safety-pin to an apartment building from our website. Evaly have gathered the brightest minds of Bangladesh and given them the platform to perform to their fullest extent. All the data-mining and optimization has been done in-house and no outsourcing from any organization has taken place. Evalyutilizing 100% Bangladeshi personnel and resources and keeping the flow of cash within our borders.An online shopping mall where hundreds, thousands of physical and online shop can offer their price. Evaly will ensure delivery! - You can pick the shop you trust from your past buying’s - First ever product search engine including everything means every thing! - Delivery time could be even 10 min and must be faster than any delivery service. 17 Evaly front model: 18 Evaly Back Model: Strategy Perfomance Management Monitoring and controlling Capital Plan Budgets 19 Evaly’s Strategies for Generate Income (Source of Income) : • • • • • Evaly will allow commuters to deliver goods picking them up from the designated station. These commuters will be verified members of Evaly. For each delivery, they will get a commission. Evaly will establish booths near the bus and train station to make pick and drop easier and commuters can pick goods from these stations. The mechanism is more like how ride-hailing operates now. Once there is a delivery order, Evaly will send it to its Evaly Xpress platform and the nearest member commuter will confirm and pick up the product and deliver it to the destination. Using the model, Evaly says it will ensure same city delivery within 3 hours and intercity delivery within 8-24 hours depending on the distance. This should improve the customer experience significantly. Figure 3: Traffic rank forEvaly is calculated using both average daily visitors and pageviews Technologies of Evaly: Last technology detected on 15th July 2019. We know 37 technologies and 4 technologies removed from evaly.com.bd since 1st September 2018. Evaly has invested heavily in technology. You can easily search and find your desired product and it is likely that your desired product is already available from one retailer or other who has a storefront at Evaly. Evaly, a newly launched ecommerce startup says it has developed a logistics model that can solve the problem effectively and efficiently through using these technologies: Google Analytics: Google Analytics offers a host of compelling features and benefits for everyone from senior executives and advertising and marketing professionals to site owners and content developers. 20 Google Apps for Business: Web-based email, calendar, and documents for teams. Renamed to Google Apps for Work, but now known as G Suite From Google Cloud. jQuery: JQuery is a fast, concise, JavaScript Library that simplifies how you traverse HTML documents, handle events, perform animations, and add Ajax interactions to your web pages. jQuery is designed to change the way that you write JavaScript. Evaly Ethics: It is assumed that ethics is the ore element of both social and political considerations of doing business trough internet. or e-commerce. So these are the ethics Evaly follows: Customer privacy:Customer privacy has been the most discussed issue concerning every kind of business transaction,especially in e-commerce when data is stored and transmitted electrically. Honesty:EValy.com.bd does not speak to that any item alluded to in the materials on this site is proper for utilize, or accessible, in different areas. The individuals who get to this site from different areas are in charge of consistence with nearby laws if and to the degree neighborhood laws are material. Transparence:Evaly maintain transparency to maintain their business. Evaly is concerned about their customer service. Accountability:Evaly is accountable for their customer. Evaly.com.bd might not be subject to any individual for any misfortune or harm, which may emerge from the utilization of any of the data contained in any of the materials on this site. Loyalty:Evaly is loyal with their customer. There is absolutely no chance of any information being leaked thanks to our dedicated team who are working all the time to ensure that our website is the most secure e-commerce platform. Confidentiality:Evaly maintains whatever authority is needed to limit the quantity of things accessible available to be purchased to any individual client. All requests are liable to accessibility. On the off chance that any things are not accessible and you paid utilizing a card you won't be charged for the scratched off things. Respect:Evaly respect their customers. Evaly sites are accessible for non-business and residential utilize as it were. They maintain all authority to reject or cross out their request on the off chance that they trust you are requesting their items for business or other re-deal purposes. They apply breaking points to some of our items to ensure stock accessibility so that whatever number of our clients as could be expected under the circumstances can purchase their items. 21 Recommendation: Here are some recommendations for Evaly• • • They should be more focused on their operating system. Evaly’s logistic model should develop. Evalyshould invest more on logistics and infrastructure development. • Evalyshould be more interactive with other market stakeholders. • They should make their B2B channel. 22 Chapter 4 :Business Communication Practices of Transfast(d): Overview of Transfast: Transfast provides money transfer and cross-border payments solutions for banks, financial institutions and e-commerce companies. Transfast's headquarters is in New York, New York. Transfast has a revenue of $35M, and 679 employees. Transfast has raised a total of $40M in funding. Transfast's main competitors are TransferWise, Remitly and Ebury. As of June 2019, Transfast has 79.1K fans on Facebook and 912 followers on Twitter. Transfast front model: 23 Transfast Back model: collaboration content creative Trans-fast Evaluation Anytime anywhere Emerging Technologies 24 Transfast Technologies: Transfast uses 23 technology products and services including: Google Analytics:Google Analytics is a free website analytics service offered by Google that gives insights into how users find and use any website. With Google Analytics, transfast can track ROI for their online marketing Google Tag Manager:Google Tag Manager is a free tool that allows transfast to manage and deploy marketing tags (snippets of code or tracking pixels) on their website (or mobile app) without having to modify the code. Bootstrap:Bootstrap also comes with several JavaScript components in the form of jQuery plugins. They provide additional user interface elements such as dialog boxes, tooltips, and carousels. Each Bootstrap component consists of an HTML structure, CSS declarations, and in some cases accompanying JavaScript code. Transfast is actively using 59 technologies for its website.There include : Viewport Meta: The viewport is the user's visible area of a web page. The viewport varies with the device, and will be smaller on a mobile phone than on a computer screen. Before tablets and mobile phones, web pages were designed only for computer screens, and it was common for web pages to have a static design and a fixed size IPone/Mobile compatible: They use iphone/mobil compatible as their regular tehnology. SPF:Sender Policy Framework(SPF).The receiving server extracts the domain's SPF record, and then checks if the source email server IP is approved to send emails for that domain. Receiving servers verify SPF by checking a specific TXT DNS entry in your domain, which includes a list of approved IP addresses. This is one of the key aspects of SPF. Transfast’s Strategies for Generate Income (Source of Income): Transfast sets its money transfer rate once a day. The rate offered to you when you begin transaction is locked in until transfer is complete. Exchange Rates offered by Transfast are comparable to other remittance service providers. Fees charged by Transfast for money transfer services range from absolutely nothing (FREE) to 7.99 USD. Fee is charged based on option you choose like country you are sending to, how you want recipient to receive money, if you are using bank account or credit card, speed you are expecting etc. 25 Transfast has a revenue of $35M, and 679 employees. Transfast has raised a total of $40M in funding. Money transfer volume 26 Transfast Ethics: Fast and easy: Transfast is fast and easy. Anyone can choose between various pay-out methods such as bank deposit, cashpickup, cash home delivery, deposit to a cash card, bill payment when available. Forcash pickup you can send money to a network of over 200,000 agent locations in the world, thanks to Transfast partnerships with many banks and retail locations. Available to you at any time any day: To avail transfast facility, please go to webpage https://www.transfast.com/ send-money or Trans-Fast Mobile app and sign-up for free, to create your Login ID and Password. After account creation, you will be prompted to complete your profile by providing essential KYC information. Once the initial registration is completed, you can send money anywhere in India 24x7, 365 Awesome customer service:There are 3 total ways to get in touch with them.The next best way to talk to their customer support team. According to other Transfast customers,is by telling get human about your issue above and telling us find somebody to help you. Besides calling, the next favorite option for customers looking for help via online help for customer service .If you think this information is inaccurate or know of other ways to contact Trans-Fast. Offer Unique and customized services:Trans-fast have a unique customer service. There are 3 total ways to get in touch with them. The next best way to talk to their customer support team. Recommendation: Here are some recommendations forTransfast• • • • Transfast should increase their budget. Transfast should maintain their technologies. Transfast publicity is not so satisfying. They should increase their publicity by advertisement. Their high commission is a burden for them. So they should maintain this. 27 Compare and contrast: Company Name Models Financial analysis Ethics • As a startup Daraz Bangladesh is getting 100% fund from its parent company. But the revenue from Daraz Bangladesh regular sales increasing daily and they are expecting to meet the breakeven with in 2019. • BYJU’s has exhibited substantial growth as far as revenue is concerned. The company started with a meager amount of INR 2 lakhs and it has reached 120 crores today. • Evaly will allow commuters to deliver goods picking them up from the designated station. These commuters will be verified members of Evaly. For each delivery, they will get a commission. • Technologies 1.Products are same as promised 2.Punctuality 3.Responsible for CS 4.Virtue Ethics 5.Communitaria n Ethics. 1.Web 2.0, 2.Blog, 3.External CSS, 4.jQuery 5.JavaScript 6.Weak ETag, 7.Embedded CSS , 8.HTML5. 1.Employment Practices 2.Environmenta l regulations 3.Honesty 1.Amazon Web Services (AWS) 2.Amazon Elastic Compute Cloud (Amazon EC2) 3.Amazon Redshift fully managed data 4.Amazon Simple Storage Service (Amazon S3) 1.Google Analytics 2.jQuery 3.Google Apps for Business 1.Customer privacy 2.Honest 3.Transparence 4.Accountabilit y 5.Loyalty 6.Confidentialit y 7.Respect 28 Conclusion: Business communications is an important piece of being success in today’s business world. We can’t think of a profession that does require using some sort of up to date communication technology to increase their proficiency. The fact is that effective communicationis one of the corner stone’s for establishing and maintaining as successful business. In business, the importance of understanding the task, conditions, and standards cannot be measured in words. Therefore, we conclude that communication technology trends are a dominated factor that must be studied and understood by small, private, and corporate businesses to succeed in today’s tough market.And these four companies have great technologies and Ethics for their development of business.Communication may break down as a result of many communication barriers that may be attributed to the business to business. Therefore, effective communication requires familiarity with the barriers. Choosing the right channel for communication is also important, because choosing the wrong medium undermines the message. When communication occurs in the cross-cultural context, extra caution is needed, given that different cultures have different norms regarding nonverbal communication, and different words will be interpreted differently across cultures. By being sensitive to the errors outlined in this chapter and adopting active listening skills, you may increase your communication effectiveness. Business communication is vital for success in all business. Success in this context means, being able to accomplish a particular task or to achieve a specific objective. Good business communications in relationships either with fellow staffs or customers is needed in order to prosper. Business success can be measured in terms of the practicability of business relationships which is directly proportional to the quality of communication (Harvard Business School Press, 2003:122). In this paper We will look at the ways of achieving successful communication, the difference between slogans and media sound bites and how slogans are used to draw audience attention.Daraz, BYJU’S, Evaly, Transfast maintain good business communications in relationship with their customers and Employees and staffs. 29 References: i. Core Book Name: ➢ Essentials of Business Communication, 9th edition ii. Supporting Book Names: a. Excellence in Business Communication by Jhon V.Thill. b. Business Communication Today (Hardcover). iii.Websites: ➢ https://www.quora.com/How-does-Byjus-make-revenue ➢ https://www.coursehero.com/file/p4l4phl/11-The-revenue-model-ofthe-organization-Depending-on-the-business-model/ ➢ https://byjus.com/free-ias-prep/ethics/ ➢ https://futurestartup.com/2019/01/07/this-is-how-evaly-plans-todisrupt-ecommerce-logistics-in-bangladesh/ ➢ https://blog.daraz.com.bd/2017/09/13/daraz-bd-revolutionizesonline-shopping-habits/ ➢ https://www.complaintsboard.com/transfast-b121023 ➢ https://futurestartup.com/2019/01/07/this-is-how-evaly-plans-todisrupt-ecommerce-logistics-in-bangladesh/ ➢ http://dspace.bracu.ac.bd/xmlui/handle/10361/6561 30