In recent times, much attention has been devoted to the belief that keeping a dog, a cat, a parrot can benefit the owner’s health in multiple ways. It reduces  the risk of heart disease, reducing loneliness, dementia and depression. About half of the households in Britain alone include some kind of pet; roughly 10m of those are dogs while cats make up another 10m. Pets cost time and money and nowadays bring little in the way of material benefits. But during the 2008 financial crisis, spending on pets remained almost unaffected, which suggests that for most owners’ pets are not a luxury but an integral and deeply loved part of the family.

Recent research supports the idea that animals are conscious beings. And some of them such as dogs, dolphins, monkeys, and elephants can experience a range of emotions typically associated with humans, such as fear, compassion, happiness, respect, or joy, and display empathy towards humans and other animals. They can also sense the differences in behaviour both physically and psychologically due to an illness. It’s been known that both dogs and cats have saved many lives by recognizing and identifying the scent of human illness through the scent of chemical changes.

Sharing your life with a loyal companion animal brings a lot of joy. Their love is unconditional, and they do more than just keep you company. So, what are the benefits of the human-animal bond? Empathy is the ability to understand the feelings and emotions of others and be compassionate toward them. Humans have empathy toward other humans and animals. And animals are more empathetic and loving towards humans. They are selfless and affectionate than humans. 

In comparison among animals, dogs are known to be protective and attentive to their owners, and this can include guarding them when they are unwell, often seen as a natural extension of their mentality and desire to protect vulnerable members. I was unwell for six months and had to take rest the whole day. My pet, Momo used to not even get up, he  used to sit near my bed. Through his eyes and expressions, he used to assure me that I would get well soon, if I would get up to use the washroom, he would follow me and sit outside the washroom. He was a huge German shepherd. After a while he used to sleep at my feet, rubbing my feet with his face, which used to give me a sense of warmth, and a sense of security.  I have experienced that German Shepherds are generally friendly and loving with their families, but their protective nature can make them reserved or watchful of strangers. He used to communicate with me through a combination of barks, body language, and facial expressions, especially his eyes, to convey his emotions. 

Research has shown that dogs can read the emotional state of their owners and respond to it in the same way as a human would. That means that your dog really cares when you are unhappy and wants to help, providing sympathy and comfort. Dogs are known to be highly adjusted to their owners’ health and can sense changes in their well-being, including illness, through subtle cues like changes in scent and behaviour. 

Some people aren’t pet friendly. Why is this the case? It is highly probable that our desire for the company of animals goes back tens of thousands of years and has played an important part in our evolution. If so, then genetics might help explain why a love of animals is something some people just don’t get. No matter your mood, you must care for your pet. Pets motivate us to be active. Taking your dog for a walk or a run helps you increase physical activity and meet your daily exercise requirements.

Psychologists explain that our attitude towards animals is influenced by many possible contributing factors, such as socio-cultural norms, religious beliefs, personality traits, and early life experiences. Researchers also suggest that compassion for animals may be linked to genetic differences. A study revealed that people who love animals have a specific version of the gene that produces the love hormone oxytocin, which is important for empathy between humans and boosts social bonding. So, oxytocin helps people bond with animals too, and animal lovers are friendlier people and have more empathy. Pet-lovers teat their pets as their child. Pets are entirely dependent on people, so they trigger the same protective instincts as our own kids do. We love animals and want to protect them because we view them as innocent creatures that cannot help themselves when they are in trouble.

We love our pets deeply, and we really want them to be happy. Our love for pets is revolutionary because it represents our closest ties to another species. We do not care about things regarding the species that they belong to. At times we prioritize pets over people. Many people talk to their pets, and it’s natural. And in addition to being a conversational partner, pets can help you maintain your emotional stability. They fulfil the basic human need for touch and provide emotional comfort by reducing the effects of the things that stress you. I conclude my passage by stating that my German Shepard friend, Momo taught me to be mindful, he taught to live in the moment. I miss him every day and I honour his memory.  

BCG matrix helps in doing a comparative analysis of business potential and the evaluation of environment. Relative market share shows SBU Sales this year leading competitor’s sales this year and market growth share shows industry sales this year minus industry Sales last year. The analysis requires that both measures be calculated for each SBU. The dimension of business based on strength and relative market share will measure comparative advantage indicated by market dominance. The key theory underlying this fact is existence of an experience curve and that market share is achieved due to overall cost leadership.

BCG matrix has four cells, with the relative market share and the vertical axis denoting market growth rate. The mid-point of relative market share is set at 1.0, if all the SBU’s are in same sector, the average growth rate of the industry is used. For example Nestle India’s all SBU exist in food industry. But, if all the SBU’s are located in different sectors of industries, then the mid-point is set at the growth rate of the economy, for example the Tata group’s SBUs exist in a variety of sectors.

The four cells of this matrix have been called as stars, cash cows, question marks and dogs. Each of these cells represents a particular pattern of business. To clarify each cell of the matrix, we will be discussing examples of Amul’s products. Gujarat Cooperative Milk Marketing Federation Ltd. (GCMMF) is India’s largest food product marketing organization with annual turnover (2013-14) US$ 3.0 billion. The word amul is derived from the Sanskrit word amulya meaning rare, valuable. The co-operative was initially referred to as Anand Milk Federation Union limited hence the name AMUL. It has the largest distribution network compared to any FMCG company. It has nearly 50 sales offices spread all over the country, more than 5000 wholesale dealers and more than 700000 retailers. In order to maintain costs at lower levels, Amul India has never spent more than 1% of its budget on advertising. However it has still been successful in creating the same impact. It’s simple yet appealing ad campaigns with its lucky mascot a cute and chubby girl usually dressed in polka dots has not changed so far.

Stars

 Stars represent business units having large market share in a fast growing industry. They usually generate cash because of fast growing market. Stars require huge investments to maintain their flourishing status. The net cash flows of ‘Star’ SBU are usually modest. Please understand that SBU’s located in this cell are attractive as they are located in a robust industry and these business units are highly competitive in the industry. When the industry matures, a successful star will become a cash cow. Amul pure ghee, cheese spread, ice creams, dairy whiteners and flavored bottled milk are examples of ‘star’ in Amul’s product portfolio.

Cash Cows

Cash Cows represent business units having a large market share in a mature yet slow growing industry. Cash cows require little investment but they generate steady cash that can be utilized for investment in other business units. It’s not the stars but cash cow SBU’s which are the key source of cash, and are in particular the core business of a corporation. They are the supporters of an organization. These businesses usually follow stability strategies. When cash cows lose their appeal and move towards descent, then a divestment policy may be followed. Amul butter, fresh milk range, mozzarella cheese are examples of cash cows in their portfolio.

Question Marks

 These SBUs represent business units having relatively low market share in a high growth industry. They require huge amount of cash for maintenance and to gain market share. They require consideration to determine if the venture of the SBU is feasible. Question marks generally possess new goods and services which have a good commercial prospective. There is no specific strategy which can be adopted. If the firm thinks it has dominant market share, then it can adopt expansion strategy, else retrenchment strategy can be adopted. The fact is that most businesses start as question marks as the company tries to enter a high growth market in which there are already existing businesses. If ignored and not rectified in time, then question marks turn into dogs. But, if huge investment is made, then they have potential of becoming stars. Masti dahi, lassi, mithai, tetra packed milk are examples of question marks.

Dogs

Dogs represent businesses having weak market shares and they operate in low-growth markets. They are cash traps. They neither generate cash nor require huge amount of cash. Due to low market share, these business units face cost disadvantages. Generally retrenchment strategies are adopted because these SBUs can gain market share only if they don’t face competition. That means other firms are weaker firms. An SBU can turn into dog because of high costs, poor quality, ineffective marketing, poor strategies etc. A dog is dragged on usually when a firm has strategic reasons to do so. If the SBU has fewer prospects for it to gain market share, it is better to divest the SBU.  The thumb rule is number of dogs should be avoided and minimized in an organization. Amul chocolate, energy drink, infant milk range and pizza are examples of dog.

The BCG Matrix is not free from limitations. The limitations are defined hereby.

• BCG matrix classifies businesses as low and high, but generally businesses run on medium scales too. Thus, the true scale/degree of business needs to be reflected.
• High market share does not always lead to higher profits. The fact is that there are high costs also involved with high market share.
• Growth rate and relative market share are not the only indicators of profitability. This model ignores and overlooks other indicators of profitability.
• Many times, dogs may help other businesses in gaining competitive advantage. The competitive advantage earned by other SBUs because of the dogs is more than cash cows sometimes.

Strategies based on BCG Matrix are as follows:

Build

By increasing investment, the product is given a thrust such that the product increases its market share. For example an organization can push a Question mark into a Star and finally a cash cow.

Hold

A company when cannot invest because it has other investment commitments due to which it holds a product or products in the same quadrant. For example is Amul decides to hold its question mark products in the same quadrant as higher investment to move a question mark into star need to put on hold.

Harvest

This is very well observed in the Cash cow scenario, wherein the company reduces the amount of investment and tries to take out maximum cash flow from the said product which increases the overall profitability. For example, Amul butter has retained its market share for decades. It’s indeed a leader as Amul owns 88 percent share in butter market.

Divest

It is observed in case of Dog quadrant products which are generally divested to release the amount of money already stuck in the business.

This is how the BCG matrix is the best way for a business portfolio analysis. The strategies recommended after BCG analysis help the firm decide on the right line of action and help them implement the same.

How having pet helps?

Having a pet helps you stay invested in life; particularly if you live alone. Pets keep you busy handling their routine as well along with yours, thus they counter loneliness and help you staying in touch with surrounding. They keep you focused. They keep you bound to life’s worth. If you’re going to see the compatibility match for a “good” or “best” pet, let me tell you it’s no different than finding a perfect life partner. There is no one pet perfect for you. They are as crazy, as lazy, as moody or as nagging as you are. Yes, they have their moods and egos both. They have their highs and lows as well. They might growl, bite to express their uneasiness some times. Tolerate them, because they are worth it. I think although there is no perfect pet, millions of pet lovers will vouch saying that a dog is the best choice for many of them. You see, dogs and people develop deep emotional ties, and dogs are great companions; they are honest, protective and most caring creatures.  They will literally lay down their lives to protect you. And what do they ask for is little in return – a pat on back, scratch behind their ears, little cuddling, and little chatter that’s all.

Do you know this – dogs mold their schedule and personality to match yours? They are never engaged or off duty. Smaller dogs, in particular, are easier to handle. They can travel with you everywhere.  The routine of caring for a pet can bring structure and purpose to daily life. Maybe you don’t always want to get out of bed, but your pet wants you to. Isn’t that a good thing?

Whether you like or not, your dog will want you to exercise – he/she wants you to take them out regularly for walks, give them food at regular intervals, play with them, keep them neat and tidy, regular bathing, cutting their nails, taking them to veterinary checkups – there is so much of work. So the dog’s upbringing becomes part of your daily plan. Many researchers have indicated that older people with pets show less stress than those without. This maybe because those regular walks or regular activities in life help you get over distress. When you come back home, who is the happiest of all, it’s your pet. His/her innocent tail wagging and jumping cannot be compared to tons of money in life; they make you feel so important, so much wanted! They really welcome you with all fondness.

Your dog keeps you connected with others in society; many won’t like him, while many will be his fans. He/she many times outshines your subsistence. It is such a psychological relief to be taking care of another living creature.

When you bring a pet home, remember you promise to continue being involved in his life, and this commitment is one of the most positive decisions you can make as you get older. Whether you believe it or not, pets are a great way to improve your mood and temperament. Research has shown that people who suffer from various diseases have lesser chances of depression if they keep pets as compared to those who are suffering from similar diseases and don’t keep pets.

Medical practitioners say that dog owners have lesser problems related to blood pressure and heart dieses. It also helps reduce cholesterol and triglyceride levels. Pour your heart out to them; tell them your problems and secrets, you bet, they will never reveal your secrets to others. To me, they are the best stress busters. Several studies have discovered that people who tend to spend their time with pets are more likely to live longer than people who don’t. You’re benefited because they improve your social skills. Kids who grow up with pets at home are always respectful towards living things.

How to cope with the grief after your pets death?

Their life spans are shorter. Join a pet-lover’s group or form one. They are the best people to come to console you, and you can also do the same to a pet lover in his moments of grief. When you’re pet dies, acknowledge your grief and give yourself permission and time to express it. Don’t hesitate to reach out to others who can lend a sympathetic ear or shoulder. Jot down your feelings in your diary, write poem, a paragraph, a short story – you’ll feel much better. I mean it.

Don’t rush into the decision of getting another pet. It is not all that easy when you are emotionally warned out. And, maybe you won’t be fair to your new pet. Each animal has his/her own unique personality and a new animal cannot replace the one you’ve lost. Your life will guide you the right time to adopt a new pet; give yourself some time. Most importantly, think cautiously whether you have the energy and time to take on new responsibilities? Do you have a support system to lean on when you want to travel? Listen to your heart you’ll get the answer.