Recently inducted on the World Economic Forum’s Expert Network, Prof (Dr) Zubin Sethna’s contribution to the nearly 50-year-old not-for-profit foundation headquartered in Geneva, Switzerland will be in the areas of entrepreneurship, future of consumption and family businesses. Professor of entrepreneurial marketing and consumer behavior, and head of programs for MSc in marketing psychology and MA in enterprise at Regent’s University in London, Sethna expects his new role to be conducive to share his "research, analysis and commentary, engage in dialog and collaborate with other members…participate in webinars, podcasts and meetings.”
In his detailed responses to Parsiana, Sethna noted, "The Expert Network is designed to promote interdisciplinary and innovative thinking about the future, challenge conventional wisdom, and develop new ideas related to industry, regional and global agendas… The Forum’s public website receives approximately five million unique visitors a month so its impact is huge.” Sethna sees his extending academic profile as an opportunity to provide "my students (undergraduate, postgraduate and PhD level) with the latest cutting-edge thinking… At Regent’s we are committed to ‘Developing Tomorrow’s Global Leaders.’”
A successful academic for over 21 years with UK based and international universities, Sethna has spent the last seven years with Regent’s where he is research-active. Besides being editor-in-chief of the Journal of Research in Marketing and Entrepreneurship, he undertakes consultancy work and is non-executive director. Two of the textbooks that he has co-authored, Entrepreneurial Marketing: Global Perspectives and Consumer Behaviour are bestsellers in the UK and Europe and now in their fifth edition. The third book he is authoring will be called Entrepreneurial Marketing: Theory and Practice. For the past 31 years he has been simultaneously functioning as a commercial practitioner across a number of industry sectors like health care, professional services, music, travel, manufacturing, information technology, education and cottage industries. In between periods of employment he has also started a number of successful small enterprises including marketing and management consulting with small and medium enterprises internationally.
Prof (Dr) Zubin Sethna (top and below) with books he has co-authored
Others in the Sethna household have demonstrated their entrepreneurial streaks too. Zubin’s wife Navaz owns and manages a successful Kumon Maths and English Study Centre. Their 20-year-old daughter Mahya is studying for her masters in design engineering and had earlier made it to the London Regional Finals with her Young Enterprise project when she designed and manufactured a product to alleviate the occasional embarrassment women experience when carrying personal products. Sons, 18-year-old Kai and 14-year-old Kaus are at high school. Kai has been running a micro enterprise re-selling ‘hyped’ clothing and accessories called Ldn_Hyp. At the recent Global Youngpreneurs program Kaus came up with his concept to sell designer masala chai as ‘Masala Shots’!
"To ride the pandemic wave… family businesses and all the consumers who rely on them… need to operate in as streamlined and agile a way as possible,” advises the expert. He further reminded, "As a result of business interruptions and shutdowns for social distancing measures, consumption in some sectors has suffered and this has only served to further exasperate the situation.”
Sharing the findings of a UK survey in end March, Zubin stated that 57% of workers engaged in less paid work and expected to earn 35% less in the subsequent four months. Eight percent of workers had lost jobs and there was a 33% chance of job loss within four months for the rest. Forty-nine percent of those surveyed reported likely problems in facing future bills.
As against this bleak scenario, "Zoroastrian owned enterprises are inherently resilient the world over! We can see this whether they are newly founded or long established,” observed Zubin, adding, "Of course, this is not the first world-changing event that we’ve seen, and it certainly won’t be the last! Our stalwart enterprises have wrestled natural disasters, economic recessions/depressions, world wars and family feuds! The Zoroastrian response has always been, and I’m sure will always be, firmly rooted in its belief in ethical values; this is the connective tissue that binds their commitment, longevity and ultimate success… We see our enterprise from a holistic perspective. Humata, hukhta, hvarshta sustain confidence and trust in our faith, our families, our enterprises and the diverse communities within which we operate.”
The UK chapter of the World Zarathushti Chamber of Commerce (WZCC) "has been beavering away since we were handed the baton in Lonavala in January 2020,” reported Zubin, international director of WZCC. In consultation with the international board, they have finally decided to host a virtual conference on January 23, 2021 where the annual reports and all other business connected with the annual general meeting will be conducted online. In October 2021 they are hoping to convene a global conclave "where we will be able to entertain delegates with the full glory of what London has to offer but we will confirm this once we have a better idea of how quickly the hospitality industry can get back on its feet and legally and safely cater for large groups,” he clarified.
For the present, the "UK chapter members continue to support each other with advice on operational, planning, restructure and strategic matters… There is of course the financial aid as well, and to that end we can proudly say that one of our members Zar Amrolia is co chief executive officer of XTX Markets” that committed GBP 20 million (Rs 1,93,61,75,899) to charities fighting coronavirus in the UK, New York and Paris.