Why do we need more entrepreneurs in Nepal?

(Credit: www.jobbertechtalk.com)

Nepal has more general problems than we people have ever imagined. Politics is not the real problem in my opinion. This is an imaginary problem which gets solved once all the political parties declare that there is no problem among them! The other real problems are many.

The unplanned urbanization, uncontrolled use of pesticides, pollution, deforestation, scattered settlement of people, subsistence way of people's life, poverty, unemployment, and illiteracy are some of the major problems which revolve around people's lifestyles. These are difficult to change and address because they are multi-faceted. For example, to lead a good quality of life one needs to have the knowledge and education first, then a willpower and courage to execute, and then the economic resources to support the ideal lifestyle, and finally the consistent motivation to persist the change. All these are difficult and cannot be done overnight.

Entrepreneurial mind can approach these problems in newer ways. Gaining and retaining trust of people is important while providing solution to these problems. People are fed up of being cheated in the trade of goods and services in terms of both price and quality. There is thus a room to provide good quality service at a premium price. While this principle may not apply to every type of markets, it produces sustainable results in the markets where it applies. People fear with increasing price, however, higher price is not really bad. It allows plenty of room for quality improvement through extensive research as well as lowers the unnecessary consumption of goods. Ultimately, our aim is to lead a qualitative life. Our aim is not to consume beyond our capacity. For that, we need to sacrifice quantity in favor of quality.

Mass production of goods can provide volume of products to consume at a cheaper price. However, that does not guarantee the improvement in our quality of life. Entrepreneurs can drive people in this direction - in improving the quality of life of people rather than making them consumerist only.

Economy of Nepal is largely subsistence economy with highly scattered market. First of all the people's residence is not congregated. The markets areas are also not very congregated. The demarcation of industrial area, agricultural area, touristic areas, residential areas, city area, countryside area, and the like is very poor: not very specific or clearly laid out. This presents entrepreneurs with a lot of problems in operating and managing their business. Businessmen who have enough wealth for investment might take risk in such market, but may not succeed in their venture. Because it is difficult to gain success in such market, we need entrepreneurial talents with innovative approaches to present their goods and services to people. A more rigorous and thorough planning and it's strict implementation, both are are crucial to turn a new startup business into a success.

The problems of poverty and unemployment can be solved through proper employment. Therefore, I am in favor of those entrepreneurs who try to employ others rather than just work on their own. The entrepreneurs can manage the business means they have to do it. They can hire manager. They can look after staffing doesn't mean they need to assume HRM role. They can hire an HRM manager. Their focus should be on overseeing the overall policies and encouraging managers to bring innovative policies on their own so that their ideas also get place and they find implementation easier. Entrepreneurs should work on strategic level and influence their company with their philosophy or strategy or vision. To take up this role, also entrepreneurs are crucial.

(To be contd.. )

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