Business

Helping Hollywood Avoid Claims of Bias Is Now a Growing Business.

Published

3 years ago

April 2, 2022

Studios are bringing in consultants to ensure their shows or films do not raise any warnings.

The summer of the year 2020 was a time for a change. Just after the death of George Floyd spurred a racial confrontation within America, Carri Twigg’s phone continued to ring.

The actress. Twigg, the founding partner in a production company known as Culture House, was asked repeatedly whether she would review the script for a movie or television show and alert anyone to any red flags regarding race.

Culture House, which employs predominantly black women, has been a specialist in documentaries. After a few months of receiving inquiries about scripts, the company decided to make an enterprise. They created a department that is solely focused on consulting work.

Raeshem Nijhon, left, and Carri Twigg, founders of Culture House in Los Angeles.

“The frequency of the check-ins was not slowing down,” Ms. Twigg said. “It was as if we have for this to be a permanent thing we can offer regularly — and that we get paid for.”Though Culture House has been providing consulting services for just a little over an entire year — with clients such as Paramount Pictures, MTV and Disney, and MTV — the work is now 30% of the company’s revenues.

Culture House is hardly alone. Entertainment executives have pledged to show an honest commitment to diversity in recent times. However, they are often criticized for not meeting. To show they’re making efforts to tackle the issue, Hollywood studios signed agreements with various nonprofits nonprofits and companies to protect themselves from the negative reputational impact that can result from having a film or an episode on a television show be accused of bias.

“When a great idea is there and then it’s only talked about because of the social implications, that must be heartbreaking for creators who spend years on something,” Ms. Twigg said. “To bring it to the world, and the only thing that people want to discuss is the ways in which it fell short. We’re working to ensure that this doesn’t happen.”

Consulting work can cover the entire production. Consulting companies are often called upon to discuss casting decisions and marketing plans. Additionally, they might look through scripts to find limited evidence and study how characters are presented within a story.

“It’s not only about what characters say, it’s also about when they don’t speak,” Ms. Twigg said. “It’s like, ‘Hey, there’s not enough agency for this character, you’re using this character as an ornament, you’re going to get dinged for that.'”

If a consultancy firm has a retainer agreement, it could also be guaranteed a monthly payment from the studio. It’s also a revenue stream created just recently.

Michelle K. Sugihara, the executive director of Coalition of Asian Pacifics in Entertainment, a nonprofit.Credit…Tracy Nguyen for The New York Times

“It exploded in the last two years or so,” said Michelle K. Sugihara, the executive director of the Coalition of Asian Pacifics in Entertainment which is a nonprofit nonprofit. The organization, dubbed CAPE, is contracted to several of the largest Hollywood studios, including Netflix, Paramount, Warner Bros., Amazon, Sony, and A24.

The CAPE has consulted on the 100 projects CAPE has worked with in the past. Sugihara said roughly 80 percent had been completed in the last year, and they “really increased” after the Atlanta spa shootings in March 2024. “That ramped up attention on our community,” she added.

Mrs. Sugihara said her group could be active throughout the process of production. In one instance, she stated that she had told the studio that all the actors who played the protagonists in a scripted show were lighter-skinned East Asian people. In contrast, the antagonists were played with darker skin tones by East Asian actors.

“That’s a red flag,” she declared. “And it’s important to discuss how these images might cause harm. Sometimes, it’s something that people aren’t aware of until you make them aware.”

The actress. Sugihara would not mention the name of the project nor the studio behind the project. In interviews with her, most mentioned confidentiality agreements with studios and a fear of shame of a filmmaker as the reasons why they were unable to disclose details.

Sarah Kate Ellis, the president of G.L.A.A.D.G.L.A.A.D. The L.G.B.T.QL.G.B.T.Q. The advocacy organization, said that her group was doing consultation work regularly for a number of many years with studios and networks. Then she decided to begin charging studios for the timework she had compared with “billable hours.”

Sarah Kate Ellis, the president of GLAAD, the advocacy organization, at its office in Manhattan.Credit…Nathan Bajar for The New York Times

“Here we were consulting with all these content creators across Hollywood and not being compensated,” stated Mrs. Ellis, the organization’s president since 2013. “When I joined G.L.A.A.D.G.L.A.A.D. we didn’t have enough money to pay our expenses. In the meantime, we’re working with the largest networks and studios worldwide and helping their clients tell stories that have been successful. It isn’t logical.”

She also founded her organization, the G.L.A.A.D.G.L.A.A.D. Media Institute. in case studios or networks needed assistance, later on, they’d need to join as a paid participant in the institute.

Initially, there was some opposition, but the studios and the networks would eventually agree. In 2018, the number of members was zero of the G.L.A.A.D.G.L.A.D. Media Institute. In 2024, at the close, the number of members had increased to 58, with almost every major network and studio in Hollywood currently a paid G.L.A.A.D.G.L.A.A.D. Media Institute.

Scott Turner Schofield has worked as consultant for G.L.A.A.D.G.L.A.A.D. and has provided advice to studios and networks on accurately portraying transgender individuals for a long time. However, he claimed that the work was overgrowing in the last few times that he was asked to come in as executive producer for a new horror film by Blumhouse.

“I’ve gone from someone who was a part-time consultant — barely eking by — to being an executive producer,” he told me.

People interviewed claimed there was a win-win deal between the consulting firms and the studios.

Studios such as Paramount Pictures have been hiring consulting firms like Culture House and CAPE.Credit…Alex Welsh for The New York Times

“The studios at the end of the day, they want to produce content but they want to make money,” said Rashad Robinson, head of the advocacy group Color of Change. “Making money is often hampered by poor decision-making and not having the appropriate people in the room. Therefore, studios are likely to look to get this.”

However, he did warn that simply hiring consultants is not an excellent alternative to the structural changes that many people would like to be seen in Hollywood.

“This doesn’t change the rules with who gets to produce content and who gets to make the final decisions of what gets on the air,” said the host. “It’s fine to bring folks in from the outside but that in the end is insufficient to the fact that across the entertainment industry there is still a problem in terms of not enough Black and brown people with power in the executive ranks.”

But, the rapidly growing sector of cultural consulting could be here to stay. Mrs. Twigg, who helped create Culture House with Raeshem Nijhon and Nicole Galovski, stated that the number of inquiries she was receiving was “illustrative of how seriously it’s being taken, and how comprehensively it’s being brought into the fabric of doing business.”

“From a business standpoint, it’s a way for us to capitalize on the expertise that we have gathered as people of color who have been alive in America for 30 or 40 years,” she added.

Business

Post-Purchase Customer Experience – Why It’s the Key to Retention and Loyalty

Published

2 weeks ago

February 6, 2025

Tina Gondolin

In today’s fiercely competitive marketplace, securing a sale is just the beginning of the customer journey, not the end. Post-purchase customer experience has emerged as a pivotal aspect of not only retaining clients but also building unwavering loyalty.

Once the transaction is completed, a new chapter unfolds—one that can either transform a one-time buyer into a lifelong advocate or reduce them to just another statistic in the sea of disengaged consumers. Every interaction a customer has after the purchase, from personalized follow-ups to seamless customer support, plays a crucial role in shaping their perception of your brand.

As the dust settles on their initial decision to buy, it’s the ongoing experiences that will ultimately determine whether they return for more or drift away into the clutches of competitors. Understanding and optimizing this journey is not merely an option anymore; it’s a necessity for businesses striving to cultivate lasting relationships in a world where choices abound.

The Path to Loyalty: How Post-Purchase Experience Shapes Customer Relationships

Source: reverselogix.com

The journey to fostering customer loyalty begins long after the initial purchase is made; it is intricately woven into the fabric of the post-purchase experience. Picture this: a customer who eagerly anticipates their delivery, receiving a thoughtful follow-up email that not only confirms shipment but also includes tips for maximizing the product’s use—this simple gesture cultivates a sense of connection.

Afterward, a timely survey asking for feedback demonstrates that their voice matters, transforming a transactional relationship into a dialogue. Each element, from personalized recommendations based on their purchase history to dedicated customer support, deepens trust and enhances the emotional bond.

In this ever-competitive landscape, understanding that retention hinges not on the initial sale, but on the entire journey afterwards, can unlock the secret to creating lifelong advocates for your brand.

Beyond the Sale: The Critical Role of Aftercare in Customer Retention

Source: globalresponse.com

In the whirlwind of commerce, where transactions often take center stage, one critical aspect frequently slips through the cracks: aftercare. This pivotal phase begins the moment a customer clicks “confirm” on their order, extending well beyond the point of sale.

It’s not merely a follow-up; it’s a commitment to nurturing the relationship, a chance to reinforce the connection established during their buying journey. Think of aftercare as the secret sauce of customer loyalty—personalized messages, helpful tips, and timely support can transform an ordinary experience into an extraordinary one.

Customers who feel valued and supported are more likely to return, not just for the products they cherish but for the community and service that accompany them. In a landscape flooded with choices, businesses that prioritize aftercare don’t just sell products; they cultivate loyalty, turning one-time buyers into lifelong advocates.

Conclusion

Source: youngurbanproject.com

In conclusion, the post-purchase customer experience is a critical pillar in fostering retention and loyalty among consumers. By understanding and enhancing this stage of the customer journey, businesses can build lasting relationships that go beyond a single transaction.

Effective post-purchase marketing not only reinforces the value of the initial purchase but also encourages repeat business through personalized communication and ongoing engagement. As companies strive to differentiate themselves in a competitive landscape, prioritizing the post-purchase experience will prove essential in transforming customers into brand advocates, ultimately driving sustainable growth and long-term success.

Business

From Trader to Business Owner – How to Build Your Own Trading Firm

Published

2 months ago

January 3, 2025

Tina Gondolin

Transitioning from a trader to a business owner is a thrilling journey, a leap from the exhilarating chaos of the markets into the strategic realm of entrepreneurship. Many traders, fueled by their passion for the financial world, dream of establishing their trading firm—a bold move that promises both independence and potential prosperity.

Yet, this path is strewn with challenges, requiring not just deep market knowledge but also formidable skills in management, finance, and strategic planning. How do you go from analyzing charts and executing trades to overseeing a team of traders and making critical business decisions? In this article, we’ll explore the multifaceted process of building your trading firm, offering insights on everything from legal considerations to cultivating a strong company culture.

Prepare to navigate the nuances of this transition—where the fierce nature of trading meets the intricate art of business ownership. Your journey begins now.

Identifying Your Niche in the Trading Market

Source: udemy.com

Identifying your niche in the trading market is an essential first step on your journey from trader to business owner. Start by reflecting on what truly captivates you—whether it’s forex, stocks, options, or commodities—and the unique strategies you’ve developed through experience.

Tools like depth of market software can play a pivotal role during this process, offering detailed insights into market trends and liquidity levels, which can help you pinpoint areas of opportunity. Dive deep into market trends, analyzing which segments show potential for growth and profitability, while also considering the competition.

Don’t shy away from experimenting; this phase often involves trial and error, as you test different trading styles against varying market conditions. Additionally, leverage your existing knowledge to carve out a specialized area, perhaps focusing on a demographic or asset class that isn’t saturated.

Ultimately, the key lies in blending your passion with market demands, creating a distinctive offering that speaks to both your interests and the needs of prospective clients.

Creating a Business Plan for Your Trading Firm

Source: www.getwork.co.uk

Creating a business plan for your trading firm is not merely a formality; it’s the foundation upon which your entrepreneurial dreams will stand. Begin by defining your vision—what kind of trading strategies will you employ? Will you focus on equity markets, forex, or perhaps cryptocurrencies? This clarity will inform every aspect of your plan, from your target market to your operational framework. Next, conduct a thorough market analysis to identify your competitors and potential clients, ensuring your unique selling proposition shines brightly amidst the noise.

Financial projections are crucial; outline your startup costs, expected revenues, and break-even analysis to illustrate the viability of your venture. Don’t forget to address risk management—how will you safeguard your capital against market volatility? Each section of your plan should weave together, showcasing not only your ambitions but also a pragmatic approach to navigating the complexities of the trading landscape.

This document is your blueprint for success; invest the time to make it comprehensive and compelling.

Legal Considerations for Starting a Trading Firm

Source: luxalgo.com

Establishing a trading firm entails navigating a labyrinth of legal considerations, intricately woven into the fabric of financial regulations. Aspiring business owners must first determine the appropriate business structure—whether a sole proprietorship, partnership, or corporation—each carrying its legal ramifications and tax obligations.

Securing the necessary licenses and permits is paramount; depending on your trading strategies and the markets you operate in, you may need to register with regulatory bodies like the SEC or FINRA. Additionally, compliance with anti-money laundering laws and data protection regulations will shape operational protocols, safeguarding both your firm and clientele. As you forge ahead, consulting with legal professionals proficient in financial regulations is not just wise—it’s essential, ensuring that your firm not only thrives but does so within the bounds of the law, avoiding the perilous pitfalls that could threaten your entrepreneurial dreams.

Conclusion

In conclusion, transitioning from a trader to a business owner by establishing your trading firm is an exciting yet challenging journey that requires careful planning, strategic decision-making, and an adept understanding of market dynamics. By leveraging essential resources, including cutting-edge tools like depth-of-market software, you can enhance your trading strategies and gain valuable insights into market trends.

Building a successful trading firm involves not only honing your trading skills but also developing a solid business framework, fostering a collaborative environment, and staying agile in a rapidly evolving marketplace. With the right approach and commitment to continuous learning, the path from trader to business owner can lead to remarkable growth and fulfillment in the world of finance.

Business

How the Rise of AI and Automation is Impacting the Accounting Profession

Published

2 months ago

December 13, 2024

Anita Kantar

The adoption of advanced technologies is reshaping how businesses handle financial processes. Tools powered by artificial intelligence (AI) and automation are transforming traditional workflows, introducing both opportunities and challenges for professionals in finance.

Accountants must now adapt to thrive in a landscape dominated by innovation.

Key Points:

Automation reduces manual data entry, boosting accuracy.
AI enables predictive insights for better decision-making.
Technology frees up time for strategic tasks.
Skills in data analysis and AI tools are essential.
Ethical considerations are critical for implementing automation.

Automation and Its Role in Streamlining Financial Tasks

Automation tools have become indispensable for reducing repetitive and time-intensive tasks. Functions such as payroll processing, tax filings, and financial reconciliations can now be completed faster and with fewer errors. Businesses looking to optimize their operations rely heavily on platforms like those recommended by Accountancy Capital for sourcing qualified professionals. For more information visit their website www.accountancycapital.co.uk.

By eliminating the burden of repetitive tasks, automation allows accountants to focus on advisory roles, providing higher-value services to clients. This shift highlights the need for upskilling to remain competitive in a changing landscape.

Source: rvnatech.com

How AI Improves Decision-Making in Financial Management

AI tools analyze vast amounts of data to identify patterns and trends that humans might overlook. This capability enhances decision-making, particularly in areas like forecasting and risk assessment. For example:

Predictive analytics ─ AI can anticipate cash flow trends or market risks, giving businesses a proactive advantage.
Fraud detection ─ Algorithms flag irregularities in real-time, reducing financial losses.
Expense optimization ─ Automated systems recommend cost-saving measures based on historical spending patterns.

Leveraging such capabilities requires an understanding of technology, coupled with expertise in interpreting results for actionable insights.

Challenges Created by Technological Advancements

The rapid adoption of AI and automation poses challenges for professionals, including:

Skill gaps ─ Transitioning from traditional methods to tech-driven workflows require upskilling.
Job displacement ─ Roles focused on manual tasks are at risk of becoming obsolete.
Ethical concerns ─ Decision-making algorithms may introduce bias if not properly monitored.

Mitigating these challenges involves ongoing education and embracing continuous professional development.

Source: runeleven.com

Skills Accountants Must Develop to Stay Relevant

The changing landscape necessitates a shift in core competencies. Key skills include:

Proficiency in data analysis tools ─ Knowledge of software that integrates AI is crucial for staying relevant.
Soft skills ─ Communication and advisory capabilities remain vital, even as technology handles routine tasks.
Ethical awareness ─ Understanding the limitations and implications of technology ensures responsible implementation.

Combining traditional expertise with technological fluency is the key to long-term success.

Benefits of Automation for Accounting Firms

Automation tools deliver measurable benefits for firms, including:

Efficiency gains ─ Faster processing of routine functions, reducing turnaround times for clients.
Cost savings ─ Automated workflows lower operational expenses.
Scalability ─ Firms can handle larger client bases without increasing staff.

By adopting technology thoughtfully, firms can maintain a competitive edge while providing exceptional service.

Source: mcgowanprofessional.com

Ethical Implications of Adopting AI in Finance

AI’s growing role introduces ethical concerns that professionals must address. Bias in algorithms, privacy concerns, and transparency issues are common challenges. Firms must establish guidelines to ensure that AI tools align with ethical practices. Regular audits and accountability measures help maintain trust.

Future Trends and Opportunities in Financial Automation

Looking ahead, technologies like blockchain and machine learning will further transform financial practices. Accountants who embrace innovation will find opportunities in consulting, compliance, and strategic planning. Staying informed about emerging trends ensures readiness for new developments.

Conclusion

The rise of AI and automation is not just reshaping workflows but redefining the role of accountants altogether. By investing in upskilling and adopting tools thoughtfully, financial professionals can transition from traditional roles to strategic advisors, ensuring continued relevance in an evolving landscape.