2022: Corporate Catharsis
Businessworld|January 12, 2022
MINHAZ MERCHANT IS THE BIOGRAPHER OF RAJIV GANDHI AND ADITYA BIRLA AND AUTHOR OF THE NEW CLASH OF CIVILIZATIONS (RUPA, 2014). HE IS FOUNDER OF STERLING NEWSPAPERS, WHICH WAS ACQUIRED BY THE INDIAN EXPRESS GROUP
Minhaz Merchant

THE COVID-19 PANDEMIC has irrevocably changed the way the world lives and works. Things will eventually settle down. Covid will regress from pandemic to endemic as the Spanish flu did a century ago. But something fundamentally has changed. There are rare inflection points in history. When Europe industrialised in the late 1700s, the concept of the “office” did not exist. Workers lived in, or near, factories.

Ajit Balakrishnan, co-founder of Rediffusion, explains: “People working under one roof dates back only to the Industrial Revolution in England in the late 18th century. Richard Arkwright – the inventor of ‘water frame’, a large cotton spinning machine powered by a water-wheel – found his machine too large to fit into a single house. So he assembled all the people working under one roof in a centralised location in Derbyshire, England, and called it Cromford Mill, the ‘factory’. Till then, all weaving of cloth had been done throughout the world by craftsmen working from home.

“Just as Arkwright’s water frame drove the creation and spread of the ‘factory’, it was the parallel growth of industries like banking, rail, insurance and telegraphy that created the need for a large number of clerks to handle order processing, accounting, and document filing, which created the ‘office’. It is widely believed that the East India Company’s location in Leadenhall Street, London, in 1729 from where an army of bureaucrats managed their colonial possessions was the first large ‘office’ in the world.”

Continue reading your story on the app

Continue reading your story in the magazine

MORE STORIES FROM BUSINESSWORLDView All

The Gains Of War

Kiran's Kontrarian Korner

4 mins read
Businessworld
May 21, 2022

India's EV Future At The Yellow Signal?

As India gears up for a green future, one of the legacy sectors that transformed the fastest is automotive but the journey of the future is punctuated with challenges. Industry captains discuss how new players change the game at the BW Auto World Trailblazers Summit 2022

6 mins read
Businessworld
May 21, 2022

India's Most Sustainable Companies

Corporate India’s behemoths who have made ESG, sustainability and sustainable development core to their operations

10+ mins read
Businessworld
May 07, 2022

"WE NEED TO ATTAIN HOLISTIC HAPPINESS"

In an interaction with BW Businessworld, Deepak Mittal, Founder, Divine Soul Yoga, speaks about his organisation, the therapies and services it provides, life-altering wellness solutions, and much more

4 mins read
Businessworld
May 21, 2022

A NEW GEN OF TRAILBLAZERS

Nearly 23 winners in the BW Auto World 40 under 40 power list represent the Indian startups and disruptors. Automobile aggregators, self-drive and rentals, pre-owned and communications category make up the rest of the winners

10+ mins read
Businessworld
May 21, 2022

A Reality Check in a Changing World

THE NETFLIX MELTDOWN

5 mins read
Businessworld
May 21, 2022

Employee Mental Health

Nearly 156 million Indians need mental health interventions. Here is how you can bring some sunshine into your work culture

2 mins read
Businessworld
May 21, 2022

Information is Both a Right and a Responsibility

Anurag Singh Thakur, Union Minister for Information & Broadcasting and Youth Affairs & Sports reiterates that the responsibility on media is far greater today than ever before

2 mins read
Businessworld
May 21, 2022

Integrating NPOS in Marketing Plans

How a well-marketed CSR campaign can go a long way in helping improve image, brand and build long-term customer loyalty

2 mins read
Businessworld
May 21, 2022

Market Maker Begins Innings as a Participant

The real test for the listing is how the markets perceive LIC

6 mins read
Businessworld
May 21, 2022
RELATED STORIES

"You Know What's Cool?"

Facebook has spent a decade successfully ripping off its newer, hotter rivals. But this time, it tried to copy TikTok and blew up Instagram instead

10+ mins read
Bloomberg Businessweek
May 30 - June 06, 2022 (Double Issue)

A Perfect Match

EVERYDAY MIRACLES

2 mins read
Reader's Digest US
June 2022

The Future of ...WHAT'S COMING DOWN THE RUNWAY IN FADS, FASHION, AND FIRMWARE

I think influencer marketing should become more plugand-play, like with Facebook ads."

1 min read
Inc.
May - June 2022

How to block (and unblock) someone on Facebook

Is someone bugging the heck out of you on Facebook? Here’s how to block ‘em.

3 mins read
PCWorld
May 2022

Big Tech's Great Reckoning

A spate of new laws in Europe and the U.S. Foreshadow What Could Be the End of dominance for Google, Facebook and Amazon

10+ mins read
Newsweek Europe
May 13, 2022

AIRBNB Allows Employees to Live and Work From Anywhere

Airbnb will allow its employees to live and work almost anywhere around the world, fully embracing a remote work policy to attract staff and ensure flexibility.

1 min read
AppleMagazine
May 06, 2022

La era de la neuroprivacidad

Puede sonar a ciencia ficción, pero ya se puede leer el pensamiento y estamos a un paso de influir en él, gracias a los avances en neurotecnología. Pronto, los datos no provendrán de las redes sociales o nuestras búsquedas en Internet: se recogerán directamente de nuestro cerebro. Y mientras las grandes empresas se frotan las manos, los científicos advierten que ya es la hora de regular. Legislemos los neuroderechos.

10+ mins read
Muy Interesante España
Mayo 2022

De-FAANGed

Investors are rethinking a strategy that's served them for the better part of a decade

4 mins read
Bloomberg Businessweek
May 02, 2022

SHARES OF FACEBOOK PARENT META SOAR DESPITE GROWTH SLOWDOWN

Facebook parent Meta’s first-quarter profit and its count of daily users jumped past Wall Street’s expectations despite the company’s slowest revenue growth since going public a decade ago. Shares were up sharply in after-hours trading.

3 mins read
Techlife News
April 30, 2022

EU LAW TARGETS BIG TECH OVER HATE SPEECH, DISINFORMATION

Big tech companies like Google and Facebook parent Meta will have to police their platforms more strictly to better protect European users from hate speech, disinformation and other harmful online content under landmark EU legislation approved last weekend.

6 mins read
AppleMagazine
April 29, 2022