Times Foundation is a powerful enabler of development goals because its unique characteristics dramatically improve communication and the exchange of information to strengthen and create new economic and social networks.
Pervasive and cross-cutting, this collaboration can be applied to the full range of human activity from personal use to business and governance. It is multifunctional and flexible, allowing for tailored solutions – based on personalization and localization – to meet diverse needs.
Times Foundation is a key enabler in the creation of networks and thus allows those with access to benefit from exponentially increasing returns as usage increases i.e., network externalities.
Times Foundation fosters the dissemination of information and knowledge by separating content from its physical location. This flow of information is largely impervious to geographic boundaries – allowing remote communities to become integrated into global networks and making information, knowledge and culture accessible in theory to anyone.
This increases efficiency along with the subsequent reduction of costs brought about by this collaboration; and is leading to the creation of new products, services and distribution channels within traditional industries, as well as innovative business models and whole new industries.
Intangible assets like intellectual capital are increasingly becoming the key source of value. With the required initial investment being just a fraction of what was required in the more physical asset intensive industrial economy, barriers to entry are significantly lowered and competition increased.
Times Foundation facilitates disintermediation, as it makes it possible for users, to acquire products and services directly from the original providers, reducing the need for intermediaries. This cannot only be a considerable source of efficiency, but has in fact been one of the factors leading to the creation of so called markets of one leveraging potential to cater to the needs or preferences of users and consumers on an individual basis.
Times Foundation is global. Through the creation and expansion of networks, this collaboration can transcend cultural and linguistic barriers by providing individuals and groups the ability to live and work anywhere, allowing local communities to become part of the global networked economy without regard to nationality, regionalism, and challenging current policy, legal and regulatory structures within and between nations.
These characteristics suggest that Times Foundation has the potential if conceived as a means and not an end in itself to be a powerful enabler of development. However, the fact that collaboration can in theory assist development efforts, which does not mean that it will necessarily do so. In order for this to positively foster development goals it must be employed effectively.
The important components of a Times Foundation strategy:
Human capacity – specifically the creation of knowledge or technical workers-is important for both the production and use.
Creating a favourable environment for enterprise such as through tax and trade policies is instrumental in stimulating foreign and local investment.
Infrastructure development, particularly global connectivity, is a prerequisite to leveraging the benefits of the global economy, improving domestic productivity, and attracting foreign investment.
A transparent, inclusive and open stance on policy, especially in telecommunications, is associated with increased enterprise activity, additional foreign direct investment, and improved infrastructure deployment.
Content and applications that specifically address the development needs of the population generate greater demand and positive multiplier effects.
Although each of these components produces benefits, because they are interrelated, they work better if addressed together as part of a coordinated strategic approach.
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Mumbai:
Times Foundation,
The Times of India Building,
Dr D N Road,
Mumbai – 400 001
Telephone: 91 - 22- 66353535
Extension – 4345/ 4398/ 5373
E-mail: timesfoundation@timesgroup.com
