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$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '2652', 'article_category_id' => '109', 'title' => 'Technical Analysis Of Nepse', 'sub_title' => '', 'summary' => null, 'content' => '<div class="news_detail"> <p> <strong>Market Trend</strong><br /> Nepse continued its bullish rally last week gaining 19.57 points or 2.44% over the four trading periods. The majority of the gains came from the last two trading days (Tuesday and Thursday) where the market rallied by 18.94 points. The substantial rise in Nepse over the past few trading days has caused it to move past its strong resistance level of 806.82 points indicating a strong bullish scenario for the stock market. Nepse is currently well above its 5-year high with numerous stocks becoming very expensive.<br /> <br /> If political climate remains fairly positive along with good financial results from companies, the market may see further upside in the days to come.<br /> <br /> <strong>RSI</strong><br /> RSI is a form of leading indicator that is believed to be most effective during periods of sideways movement. Such indicators may create numerous buy and sell signals that are useful when the market is not clearly trending upwards or downwards. On February 03, 2014, the RSI indicator settled lower at 51.37. Since then, RSI has been gradually creeping upwards. This has caused RSI to move back into the overbought zone. By the end of the last Thursday, the RSI stood at 73.30 levels.<br /> <br /> <strong>MACD</strong><br /> The MACD indicator, which has been witnessing a declining trend since the third week of January 2014, finally crossed above the signal line on Tuesday.<br /> <br /> When a MACD line crosses above the signal line, it is considered to be a positive sign and indicates a time to buy. The MACD line and Signal line increased from 10.60 and 10.80 points in the previous week to 12.87 and 11.35 points respectively. This suggests that the near term moving average is moving upward with a greater momentum while the longer term moving average is gradually shaping upwards.<br /> <br /> <strong>On Balance Volume (OBV)</strong><br /> OBV is a momentum indicator that relates volume to the current price of index or security. During January 19 to February 13 2014, the OBV indicator formed a resistance level in terms of volume of shares traded. In the past week, the indicator moved past its resistance level signaling a positive.</p> <p> <strong>Market Summary<br /> (16 February to 20, 2014)<br /> Close: 822.67<br /> High: 822.67<br /> Weekly Change: 19.57 points<br /> (2.44%)<br /> Daily Average Turnover:<br /> NPR 278.29 Million<br /> Total Weekly Turnover:<br /> NPR 1.11 Billion<br /> Immediate Support: 806.82<br /> Immediate Resistance:<br /> 847.86<br /> RSI: 73.30<br /> MACD Line: 12.87<br /> Signal Line: 11.35</strong><br /> </p> </div> <p> </p>', 'published' => true, 'created' => '2014-02-23', 'modified' => '2014-02-23', 'keywords' => 'money matters of nepal', 'description' => 'money matters of nepal', 'sortorder' => '2497', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 1 => array( 'Article' => array( 'id' => '2647', 'article_category_id' => '156', 'title' => 'Why Executives Are Getting Older And Older', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong>By Rachel Feintzeig</strong></p> <p> Is your boss a little grayer than you expected? Blame the recession.<br /> <br /> New research from the University of Pennsylvania’s Wharton School and Madrid’s IE Business School has found that the age of executives is on the rise, as is the time spent in their roles—lingering effects of a financial crisis that eroded career growth at the highest levels of the corporate ladder.<br /> <br /> For decades, executives bounced around from company to company, taking ever less time to climb to the top. But that was before the recession hit. In recent years, even top corporate leaders saw their paths stalled, says Peter Cappelli, one of the study’s authors and a Wharton management professor.<br /> <br /> One problem is that the oldest generation of executives delayed their retirement post-2008, prohibiting the next employees in line from taking their seats. When companies did have vacancies, they found it difficult to lure fresh talent from the outside: workers were afraid to make changes amid the economic uncertainty.<br /> <br /> Cappelli and the IE’s Rocio Bonet and Monika Hamori analyzed biographies of the top ten leaders of all FortuneFT.T 0.00% 100 companies dating back to 1980. The first stage of their study analyzed executives through 2001, and a recent update brought the research up to 2011.<br /> <br /> Cappelli predicts executives will start to move around more by 2015, even if the economy isn’t booming by then.<br /> <br /> “People wear out their welcome,” he said, “and even the people who are welcome don’t want to stay any longer.”<br /> <br /> Once a few executives start playing musical chairs, change will be swift and widespread, he added, with the trajectory once again pointing toward “sharply declining tenure” at organizations.<br /> <br /> The study, published in the Harvard Business Review, also found that the corner office has gotten more diverse over the last decade and that there are more female and foreign-born leaders. For example, 18% of the executives studied in 2011 were female, as compared to 11% in 2001 and 0% in 1980. The rate of foreign executives rose from 2% in 1980 to 11% in 2011. But those trends come with caveats.<br /> <br /> Companies with foreign executives in their top ranks are “disproportionately” based on the East and West Coasts, according to the study. Women rise to top jobs fast, according to Cappelli, but they seem to be on a different track than men, most often moving up in the marketing or human resources divisions of their companies rather than the operational side. And not all executive jobs are created equal, Cappelli said. A marketing or human resources executive has little chance of becoming CEO – General Motors’ Mary Barra not included.<br /> <br /> The data also highlights sharp disparities between career trajectories at firms. At some businesses, like Chevron Corp.CVX -1.68% and United Parcel Service of North America Inc., leaders stick around; 90% of the top leaders at those companies have been there their entire career. Other firms see more of a revolving door in the executive suite; Sears Roebuck & Co.’s average 2011 executive had only three years there. The variation between companies has to do with the stability of the company’s product, how quickly their operating model is changing and how their boards react to that change, Cappelli said.<br /> <br /> The variation “does reflect very different notions and … understandings of how you succeed in business,” Cappelli said. “The idea that there was a corporate model really seems to be blown up. Now there’s several corporate models.”</p>', 'published' => true, 'created' => '2014-02-23', 'modified' => '2014-03-03', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Is your boss a little grayer than you expected? Blame the recession. New research from the University of Pennsylvania’s Wharton School and Madrid’s IE Business School has found that the age of executives is on the rise, as is the time spent in their roles—lingering effects of a financial crisis that eroded career growth at the highest levels of the corporate ladder.', 'sortorder' => '2496', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 2 => array( 'Article' => array( 'id' => '2646', 'article_category_id' => '153', 'title' => 'Nepali Tea: Tea from the High Lands', 'sub_title' => '', 'summary' => null, 'content' => '<p> </p> <p> Nepal has a long history of tea cultivation, initiated with the establishment of Ilam Tea Estate in the hills of Ilam district in 1863 and Soktim Tea Estate in the plains. It is believed that tea plantation in Nepal started within the same decade, when it was introduced in the hills of Darjeeling, India.</p> <p> First private sector tea plantation in Terai was established in 1959 under the name of Bhudhakaran Tea Estate. Government joined the sector in 1966 with the establishment of Nepal Tea Development Corporation. After considering the potential for tea farming in the eastern development region, in 1982 five districts of the region i.e. Jhapa, Ilam, Panchthar, Terhathum and Dhankuta were declared ‘Tea Zone’. However now days Tea is also cultivated in few other districts.<br /> <br /> Nepal Tea and Coffee Development Board says that promotional activities to promote Nepali tea in the international market are inadequate even though it is listed as a priority in the Nepal Trade Integration Strategy (NTIS) 2010. This list includes the 19 Nepali products that have export potential. “The government should be more concerned about its promotion in the international market so that it receives better market value and positioning in the international market,” states the board.</p> <p> <img alt="Tea Plantation & Production" src="/userfiles/images/f3%20(Copy).jpg" style="width: 550px; height: 225px; margin-left: 10px; margin-right: 10px;" /></p> <p> The 2011 – 12 statistics states that the tea plantations which covers the area of 18149 hectares of land across the nation annually produces 18.3 million kgs of Tea and provides direct employment to 100 thousand people. Private sector actors in the industry comprise of small farmer as well big corporate houses that have large tea estates with tea processing factories and marketing mechanism.</p> <p> <img alt="Tea Plantation and Production in Nepal" src="/userfiles/images/f1%20(Copy).jpg" style="width: 550px; height: 237px; margin-left: 10px; margin-right: 10px;" /></p> <p> There are 140 registered tea estates and 40 tea processing factories that produce 85 per cent of the nation’s production volume.Some of these factories do not have their own tea estate. They process tea produced by small and medium tea farmers. This type of small holding tea estate farming is anticipated to flourish in the days ahead.</p> <p> <img alt="Orthodox and CTC TEa Plantation" src="/userfiles/images/f2%20(Copy).jpg" style="width: 550px; height: 174px; margin-left: 10px; margin-right: 10px;" /><br /> <span style="font-size:14px;"><strong>Packaging Industry</strong></span><br /> There are two types of tea packaging industries operating in Nepal. First of these are the ones operated large scale tea producers who have their own tea estates and use the facility to package their products exclusively. Another type of factories buy tea products from national and international producers and package it at their own facility.<br /> <br /> <span style="font-size:14px;"><strong>Forecasts</strong></span><br /> Presently Tea plantation is dominated by small holders. Future target is set to extend plantation to 40 thousand hectares with an expected harvest of 46 million kg of tea annually whose worth is estimated to be around 247 million dollars. This will generate employment for 102 thousand people in rural areas and is expected to boost up the rural economy, states the Nepal Tea and Coffee Development Board.<br /> <br /> <span style="font-size:14px;"><strong><img alt="Nepal TEa" src="/userfiles/images/f4%20(Copy).jpg" style="float: right; margin: 0px 0px 0px 10px;width: 100px; height: 110px;" />Branding Efforts</strong></span><br /> National Tea and Coffee Development Board has developed a logo in accordance to the provision of the National Tea Policy 2000 to introduce N e p a l Tea in the domestic and international market and create its niche. Half circle green background embedded by double red circle of this national tea logo indicates the eco-friendly environment of the tea garden; where a tea twig having two leaves and a bud flourish. Along with that the smiling and shining southern face of the Mt. Everest placed in the upper half portion of this logo signifies as the tea produced in the land of Himalayas. Two words “NEPAL TEA” placed within the diameter of the logo circle establish unfailingly as a brand that symbolizes – “A symbol of quality from the top of the world.”</p>', 'published' => true, 'created' => '2014-02-23', 'modified' => '2014-03-03', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'There are 140 Registered Tea Estate which contribute 85 per cent of the National’s production volume. Nepal has 40 Tea processing factories in private sectors.', 'sortorder' => '2495', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 3 => array( 'Article' => array( 'id' => '2645', 'article_category_id' => '91', 'title' => 'Govt Seeks ‘Formula’ To Reduce Trade Deficit', 'sub_title' => '', 'summary' => null, 'content' => '<table cellpadding="0" cellspacing="0" height="18" hspace="0" vspace="0" width="192"> <tbody> <tr> <td align="left"> <p> <strong>By TC Correspondent</strong></p> </td> </tr> </tbody> </table> <div style="clear: both;"> Alarmed by a whopping trade-deficit, the government is all set to form a separate high-level taskforce, which will identify possible solution to reduce the existing trade deficit.</div> <p> The trade imbalance has now become a serious problem as the country’s trade deficit continues widening year on year, said secretary at the Office of the Prime Minister, Krishna Hari Baskota. “The government is serious to increase promotional activities for Nepal’s products in the international market for reducing the<br /> trade deficit.”</p> <p> According to Nepal Rastra Bank (NRB), the nation’s trade deficit with India has reached Rs 190.95 billion, out of the overall trade deficit of Rs 288.76 billion in the first half of the current fiscal year.</p> <p> Trade deficit has a multiple effects since it drains money from the country’s economy, Banskota said, adding that remittance inflow has become crucial in maintaining Balance of Payment (BoP) of the country. It is not good for country’s financial health to rely on remittance inflow forever, he opined. According to the central bank, the country witnessed a total of Rs 266 billion remittance inflow in the first half of the current fiscal year.</p> <p> Coordination among various stakeholders is a must to reduce hassles in trade, he said. The coordination among various stakeholders has not been materialised so far, he informed. It is time that policymakers and businesses made concerted and coordinated attempts to tackle country’s trade imbalances before we are faced with serious crisis, he further said, adding that it is also the right time to address the issue as the country is all set to get a moderate and liberal government led by parties which embrace liberal economy policy.</p> <p> Elaborating further Banskota pointed that the ‘one stop services’ to promote export promotion has been limited to papers. “We need to seriously implement all provisions which the government has introduced with aim of facilitating trade activities,” he said. He blamed the private sector for being hell bent on collecting service charge rather than contributing to trade facilitation. It is not necessary to issue both Generalize System of Preference (GSP) and Certificate of Origin (CO) for the products. But, this hassle has not been removed, as private sector does not want to lower their profit, which they have been collecting while issuing these two certificates, he blamed.</p> <p> <span style="font-size:14px;"><strong>Govt’s Mantra to Reduce Trade Deficit</strong></span></p> <p> • Establishment of herbs collection and processing centres<br /> • Upgradation of labs<br /> • Verification of organic products<br /> • Acquiring collective trademark<br /> • Government’s assistance in acquiring trademarks<br /> • Increased participation in global trade fairs<br /> • Effective implementation of Nepal Trade Integration Strategy 2010</p>', 'published' => true, 'created' => '2014-02-23', 'modified' => '2014-02-24', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Alarmed by a whopping trade-deficit, the government is all set to form a separate high-level taskforce, which will identify possible solution to reduce the existing trade deficit.', 'sortorder' => '2494', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 4 => array( 'Article' => array( 'id' => '2590', 'article_category_id' => '91', 'title' => 'Nepal-India Trade Expo In Birgunj', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By TC Correspondent </strong></div> <div> </div> <div> A ten-day Nepal-India Trade Expo 2014 kicked off in Birgunj last Thursday (February 13). Indian ambassador to Nepal Rajit Rae inaugurated the expo amid a function organized at Aadarshanagar stadium in Birgunj. </div> <div> </div> <div> Ambassador Rae underlined the need for infrastructure development to attract more foreign investment to Nepal. </div> <div> </div> <div> “Nepal needs to implement investment friendly policies,” he suggested. He informed that Indian government has planned to expand railway facility in five bordering districts in Nepal. The railway link is expected to facilitate trade between the two countries, he added. The process of establishing Integrated Check Posts (ICPs) at three major customs points along the Nepal-India border has also started, he said.</div> <div> </div> <div> He urged Nepali private sector and the government to take Indian investors into confidence as there is high potential of Indian investment in Nepal. He emphasized on the bilateral cooperation for mutual benefit. </div> <div> </div> <div> Nepal should increase the volume of export to India to reduce the existing trade deficit with India, he suggested. “Nepal can export hydroelectricity to India which will help reduce the trade deficit.”</div> <div> </div> <div> The Birgunj Chamber of Commerce and Industry in association with Minds Nepal has organized the expo that is aimed at increasing international trade particularly with India and the SAARC countries. The 10-day exhibition has been displaying a wide range of products from Nepal, India and the SAARC region, the organizer said. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Nepal-India Border Summit </strong></span></div> <div> Nepal-India border summit concluded on Saturday (February 15) issuing a 15-point “Birgunj Declaration 2070”. Birgunj Chamber of Commerce and Industry had organized the summit with participation of parliamentarians from bordering districts. In the programme, six parliamentarians from Bara and Parsa districts of and two parliamentarians from India participated. </div> <div> </div> <table align="center" width="100"> <tbody> <tr> <td> <img alt="" src="/userfiles/images/1%20(Copy)(4).jpg" style="border-width: 0px; border-style: solid; width: 550px; height: 354px;" /></td> </tr> <tr> <td bgcolor="#DDDDDD"> <div align="center"> <div style="text-align: center;"> <strong>BiCCI’s immediate past president Ashok Temani (second from right) helping Indian Ambassador Ranjit Rae to unwrap the Greater Nepal CD for launching while FNCCI president Suraj Vaidhya (far left) looks on</strong></div> </div> </td> </tr> </tbody> </table> <div> </div> <table align="center" width="100"> <tbody> <tr> <td> <img alt="Crowd at the readymade garment stall." src="/userfiles/images/2%20(Copy)(4).jpg" style="border-width: 0px; border-style: solid; width: 550px; height: 354px;" /></td> </tr> <tr> <td bgcolor="#DDDDDD"> <div align="center"> <div style="text-align: center;"> <strong>Crowd at the readymade garment stall.</strong></div> </div> </td> </tr> </tbody> </table> <div> </div> <table align="center" width="100"> <tbody> <tr> <td> <img alt="BiCCI president Ashok Vaidhya " src="/userfiles/images/3%20(Copy)(4).jpg" style="border-width: 0px; border-style: solid; width: 550px; height: 179px;" /></td> </tr> <tr> <td bgcolor="#DDDDDD"> <div align="center"> <div style="text-align: center;"> <strong>BiCCI president Ashok Vaidhya (4th from the right) with participants of Nepal - India Border Summit</strong></div> </div> </td> </tr> </tbody> </table> <div> </div> <table align="center" width="100"> <tbody> <tr> <td> <img alt="Crowd at the electric equipment stall." src="/userfiles/images/4%20(Copy)(3).jpg" style="border-width: 0px; border-style: solid; width: 550px; height: 339px;" /></td> </tr> <tr> <td bgcolor="#DDDDDD"> <div align="center"> <div style="text-align: center;"> <strong>Crowd at the electric equipment stall.</strong></div> </div> </td> </tr> </tbody> </table> <div> </div>', 'published' => true, 'created' => '2014-02-17', 'modified' => '2014-02-23', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'A ten-day Nepal-India Trade Expo 2014 kicked off in Birgunj last Thursday (February 13). Indian ambassador to Nepal Rajit Rae inaugurated the expo amid a function organized at Aadarshanagar stadium in Birgunj.', 'sortorder' => '2493', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 5 => array( 'Article' => array( 'id' => '2639', 'article_category_id' => '211', 'title' => 'Shreenagar Agro Farm', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> </div> <div> <strong>--By Pinaki Roy</strong></div> <div> </div> <table align="right" style="margin: 0px 0px 0px 10px;" width="25"> <tbody> <tr> <td> <img alt="Satish Shrestha, MD, SAF" src="/userfiles/images/ss1%20(Copy)(1).jpg" style="border-width: 0px; border-style: solid; width: 200px; height: 183px;" /></td> </tr> <tr> <td bgcolor="#FFFFFF"> <div align="center"> <strong>Satish Shrestha</strong>, MD, SAF</div> </td> </tr> </tbody> </table> <div> An initial investment of Rs 1 million made in 2001 was the first step towards making Shreenagar Agro Farm (SAF) Pvt Ltd the big name it is – a company with an estimated current net worth between Rs 500–600 million. Satish Shrestha, the Managing Director of SAF, entered the livestock business in 2001 while still working with the Citibank. A BCom graduate from the prestigious Sydenham College of Commerce and Economics in then Bombay, he worked as Relationship Manager at the Kathmandu office of Citibank from 1997 to 2002. </div> <div> </div> <div> Gems Poultry, an integrated farm spread over 15 ropanis of land in Gongabu, Kathmandu was looking for a partner. Shrestha took the opportunity to become a partner in the farm that comprised of a fish pond, a small feed making facility and a commercial broiler unit. </div> <div> </div> <div> <span style="font-size: 16px;"><strong>Decision Time</strong></span></div> <div> In 2002, Citibank decided to close down its office in Kathmandu and offered Shrestha a job at its office in Bangalore, India. While he was still pondering over the chance to relocate, his partner at Gems Poultry offered him to take over the company entirely. It got him thinking but eventually he decided to stay back and buy out the company. He paid the agreed amount over a period of three years and also renamed the enterprise as Gems Agro Livestock Industries Pvt Ltd. Having dabbled the banking job and the livestock business simultaneously for a year and taking over the company in full later helped Shrestha launch his flagship company – Shreenagar Agro Farm – in due course of time.</div> <div> </div> <div> <span style="font-size: 16px;"><strong>The Company</strong></span></div> <div> Shreenagar Group comprises of three companies – Shreenagar Agro Farm Pvt Ltd, Sunaulo Agro Farm Pvt Ltd, and Gems Agro Livestock Industries Pvt Ltd. These companies have emerged as an agri-business conglomerate with activities ranging in Poultry Breeder Farming for broiler and layer, Hatchery for production of broiler and layer day-old-chicks, Feed Mill for production of mash and pellet feed for poultry & other livestock and Commercial Farming of broiler and layer as well as distribution of table eggs (regular and branded). </div> <div> </div> <div> SAF moved business to Butwal in 2006-07 due to space constraint in the capital, a result of massive urbanization, which was hindering the expansion of his industry. The company stands out due to its technological advancement, research, continuous investment, professionalism and adequate exposure when compared to its contemporaries in the domestic market. It employs 150 people at all its facilities put together.</div> <div> </div> <div> </div> <table align="center" width="100"> <tbody> <tr> <td> <img alt="Feed Mill of Shreenagar Agro Farm" src="/userfiles/images/ss2%20(Copy)(1).jpg" style="border-width: 0px; border-style: solid; width: 550px; height: 368px;" /></td> </tr> <tr> <td bgcolor="#DDDDDD"> <div align="center"> Feed Mill of Shreenagar Agro Farm</div> </td> </tr> </tbody> </table> <div> </div> <div> <span style="font-size: 16px;"><strong>Learning Curve</strong></span></div> <div> Shrestha makes regular visits to India for observing development in similar business areas. “I also visit Thailand often which is the heart of agri-business sector in this region,” he says. He also travels to Holland at regular intervals to update himself with technological advancements in the sector. He adds, “What has become obsolete in regions such as Europe is coming to our part of the world now.”While certain learnings are implemented immediately, some others are considered over a longer period of time, he says.</div> <div> </div> <div> Exposure to successful agri-business outlets abroad has taught the company to focus on bio security. It has ensured distance between its poultry units, cleaner environment, maintenance of hygiene protocols etc. Another important aspect is the placement of its various farms. For example, the growing flock is based in Butwal while the production flock is at Palpa. </div> <div> </div> <div> <span style="font-size: 16px;"><strong><img alt="golden Egg" src="/userfiles/images/ss3%20(Copy)(2).jpg" style="float: right; margin: 0px 0px 0px 10px; width: 160px; height: 197px;" />Golden Egg</strong></span></div> <div> Shrestha always knew there was a market for branded eggs in the country. “A cooking experience at my home kitchen sparked the idea of dating eggs to ensure fresh product for the consumers,” he informs. Around mid-2012, SAF launched ‘Golden Egg’ in containers that also mentioned the timeframe within which the eggs were required to be consumed. </div> <div> </div> <div> Golden Egg started with sales of 1,000 eggs per day which increased to 40,000 eggs per day in about a year-and-a-half’s time period. The company has now set a target to reach sales of 100,000 eggs per day by the end of 2014. Currently, Golden Egg is available in packs of 6, 12 and 30 eggs. The Golden Egg containers have the ‘best before’ dates on their covers and are sold via hundreds of retail outlets. </div> <div> </div> <div> <span style="font-size: 16px;"><strong>Sales Strategy</strong></span></div> <div> Having priced Golden Egg at a premium, SAF targeted consumers who were more likely to be quality conscious. Hence, the brand was introduced in department stores and various marts to begin with. The company is currently awaiting the results of a research on consumption trend of Golden Egg following which it will be selling branded eggs individually. The egg shells will be individually marked with Golden Egg stamp and available at the convenience stores and “kiraana pasals” as well. </div> <div> </div> <div> “Sourcing eggs from local farmers in various locations besides our own farm has multiple advantages,” says Shrestha. He adds that while the idea provides business opportunities to the farmers, it also saves him the expenses of opening and maintaining farms. SAF continues to get its supply of products from alternate locations even at times when a certain part of the country witnesses a problem. The company imparts trainings to enable farmers run their respective farms efficiently and adhere to quality standards set by the company.</div> <div> </div> <div> <span style="font-size: 16px;"><strong>Looking Ahead</strong></span></div> <div> Among its future plans, the company is continuously looking at integration efforts, reveals Shrestha. He hopes to reach fresh stores and ensure greater presence in retail over the next couple of years while also mulling over adding slaughtering and processing aspects of the livestock business. </div> <div> </div> <div> “We are also exploring the idea of launching retail outlets tentatively named Golden Fresh Mart which will have four components: poultry & meat products (includes eggs), dairy production, bakery products, and vegetables & fruits,” Shrestha says. He elaborates that the idea is to provide end consumers with an array of products under the same roof. He quickly adds though that it all depends on having like-minded partners who already hold an edge in their respective business segments. </div> <div> </div> <div> Shrestha always dreamt of running a volume based industry in a conventional manner and being able to make a difference. Success has come along the journey, he says and advises aspiring entrepreneurs to keep on striving and continue in believing one’s instincts.</div>', 'published' => true, 'created' => '2014-02-20', 'modified' => '2014-02-23', 'keywords' => 'new business age success story news & articles, success story news & articles from new business age nepal, success story headlines from nepal, current and latest success story news from nepal, economic news from nepal, nepali success story economic news and events, ongoing success story news of n', 'description' => 'Caught between a plum banking job and entrepreneurship, Satish Shrestha chose the latter. A little over a dozen years later, he has not looked back and is a successful businessman in the making. Notwithstanding all the hardships that he courted along the way, he is glad to have pursued his instincts and believed in his dreams.', 'sortorder' => '2492', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 6 => array( 'Article' => array( 'id' => '2588', 'article_category_id' => '169', 'title' => 'Handling People Why Employees Leave Organization?', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <div> <div> Every organization deals with employee turnover. It struggles to fill vacancy even when no new positions are created. People get offers from prestigious companies with better infrastructure, great salary, fair policies, good perks and excellent training opportunity; But instead of building career and settling for a longer period, some of them walk out within a year or two. But there is a pattern of people leaving. Gallup conducted a survey amongst a large population and came back with similar findings. Any organization, losing good people, should look at the Managers handling them. People join an organization but leave their bosses. </div> <div> </div> <div> Good superior is the reason why people stay and flourish in a company and a bad one can cause catastrophe with high turnover. When people cannot retort openly in anger, they do so by passive aggression, by digging their heels in and slowing down, by doing only what they are told to do without any added initiative, by omitting to give crucial information. If somebody is working for a person without any respect, then the soul is absent in the job. Finally, some instances of lack of empathy or downright rudeness and humiliation will compel them to go. Research suggests that employees find humiliation most intolerable. First time, a thought would have been planted. Second time, resolve gets strengthened. Third time, searches begin actively. </div> <div> </div> <div> Different managers can stress out employees in different ways - by being too controlling, too suspicious, too pushy, too critical or even too hands off. But they forget that people are not fixed assets, they are free agents. When this goes on for too long, an employee will quit, often over a trivial issue. </div> <div> </div> <div> In any decently sized organization, normally a pattern of bell curve exists with top 10% people performs outstandingly well and bottom 10% poorly. Organization may not suffer if bottom 10% goes. But the deadwoods mostly stay back and talents move. With that, years of knowledge and experience departs as well, sometimes straight to competition. Some Company handles this by weeding out bottom 10% and rewarding others handsomely. But, while doing so, they cast a pall of fear over their employees and destroy morale and innovative thinking. Some does not believe in firing and to manage, they reduce gap between top and bottom. This demotivates the top performer but does not improve the bottom either. </div> <div> </div> <div> So what should an organization do to prevent high attrition? To start with, a study can be initiated to understand the turnover pattern. Is it pointing out towards any department, grade, age group or manager? Then an employee satisfaction survey can be conducted to understand whether the employees are motivated or not and if not then what are the reasons? Slicing through profile is needed when the survey results are analyzed. A lot can be learned through simple questions like whether the employee has any friend in office or not, whether his boss shares organization goal and vision or not. Based on that, certain action agenda can be decided. </div> <div> </div> <div> It is important to make certain that every Job Profile is thoroughly laid out. I must know what I am supposed to do, what is the organization expects from me? I have seen cases where people react badly when they feel that what is expected from them were never clearly informed beforehand. They felt they were treated unfairly.</div> <div> </div> <div> Whether people are taking ownership of their team members or not is a critical factor. When the Boss very dispassionately disowns the blunder caused by his team and put the blame squarely on somebody’s shoulder, if one is not sure that his boss will stand by him in his hour of crisis then he will never stick his neck out. </div> <div> </div> <div> Organizations must balance their reward and punishment system. Even though the punishment should not mean that bottom 10% will lose their job but the reward for the top 10% should be sufficiently higher than others. People at all levels have to be suitably empowered to ensure ownership. To empower, one must analyze set of jobs each person is doing and what can be delegated down. The person to whom the job would be delegated can be identified by carrying out a SWOT analysis for each of the probable candidates. While doing so, we need to remember that each person has certain strength and if those strengths are played upon instead of harping on the improvement on weaknesses, the result can be positive and manifold. Post this, the person, identified for empowerment can be coached and trained to handle the extra work. He has to take responsibility and he would be held accountable. But, if he gets credit for successful execution and also possesses authority to tweak the system to achieve more, he will put in real good effort to excel. </div> <div> </div> <div> In a nutshell, there are certain steps any organization should take to handle attrition. </div> <div> 1.<span class="Apple-tab-span" style="white-space: pre;"> </span>Study turnover pattern – look for some weak areas which needs immediate attention </div> <div> 2.<span class="Apple-tab-span" style="white-space: pre;"> </span>Conduct internal survey to gauge employee satisfaction – create and implement action areas based on that </div> <div> 3.<span class="Apple-tab-span" style="white-space: pre;"> </span>Ensure appropriate job descriptions across all levels are created and informed to both employee and his superior without any ambiguity.</div> <div> 4.<span class="Apple-tab-span" style="white-space: pre;"> </span>Implement appropriate evaluation system and evaluation are to be done fairly and transparently. Employee ratings have to be properly informed to him</div> <div> 5.<span class="Apple-tab-span" style="white-space: pre;"> </span>Analyze training requirements and ensure people receive training as per their need </div> <div> 6.<span class="Apple-tab-span" style="white-space: pre;"> </span>Make sure people at all levels are suitably empowered and all required resources are provided to them to carry out their job</div> <div> 7.<span class="Apple-tab-span" style="white-space: pre;"> </span>Last – but most important – create a culture of Care and Nurture and ensure managers handling teams are tuned to this culture. They are the key to build teams. Every team leader must be taught the following; “No matter what, I will always treat all my team members the way I would like myself to be treated by my superior”</div> <div> </div> <div> But this culture takes years to build up. Management has to consciously practice this to achieve the intended goal. Employee is an important aspect of any organization that can either turn into an asset by delivering value or into a liability by becoming a burden. It is the responsibility of the organization to ensure that employees are groomed and properly utilized. For that, appropriate training must be given to managers who handle teams. They are to be trained to seek opportunity to show that they care for their team. A culture of care and empathy can be real game changer. As John wooden said – we must seek opportunity to show we care, the smallest gesture can make the biggest differences. </div> <div> </div> <div> <img alt="Buddha's Delight" src="/userfiles/images/bd1%20(Copy)(2).jpg" style="width: 550px; height: 299px; margin-left: 10px; margin-right: 10px;" /></div> </div> </div> <div> </div>', 'published' => true, 'created' => '2014-02-13', 'modified' => '2014-02-21', 'keywords' => 'new business age buddha’s delight news & articles, buddha’s delight news & articles from new business age nepal, buddha’s delight headlines from nepal, current and latest buddha’s delight news from nepal, economic news from nepal, nepali buddha’s delight economic news and events, ongoing buddha’s', 'description' => 'Different managers can stress out employees in different ways - by being too controlling, too suspicious, too pushy, too critical or even too hands off.', 'sortorder' => '2491', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 7 => array( 'Article' => array( 'id' => '2591', 'article_category_id' => '137', 'title' => 'Nepal Among Top 20 Fragile LDC ODA Recipients', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Sanjeev Sharma</strong></div> <div> </div> <div> Nepal is among the world’s top 20 fragile countries to receive official development assistance (ODA) from multilateral and bilateral donors, according to a new OECD report. The report entitled ‘Fragile States 2014: Domestic Revenue Mobilisation’ informs that Nepal received USD 892 million in ODA in 2011. The report prepared by OECD’s Development Assistance Committee (DAC) totalled the country’s net ODA atUSD 8.17 billion from 2000-2011. ODA per capita in Nepal was recorded at USD 29 in 2011.</div> <div> </div> <div> The report has characterised 51 countries (both LDCs and non-LDCs) as the fragile states that are unable to meet their population’s expectations or manage changes in expectations and capacity through the political process. According to OECD, ODA to fragile states declined to USD 53.40 billion in 2011 from record high of USD 67.35 billion in 2005. “Aid has declined by 2.4 per cent in 2011 and will continue its downward trend,” says the report.”Meanwhile, the share of the world’s poor found in fragile states is set to rise to a half by 2018.”</div> <div> </div> <div> These countries saw a total inflow of ODA at USD 547.19 billion from 2000-2011. Among 51 countries, Afghanistan was the highest recipient, receiving net ODA of USD 45.43 billion from 2000-2011. The war-ravaged country saw significant increase in foreign financial and technical assistance after the fall of Taliban regime in 2001. Pakistan also received note worthy amount of ODA over the last decade with USD 28.51 billion being allocated to it. Bangladesh and Sri Lanka, meanwhile, acknowledged net ODA of USD 19.76 billion and USD 9.02 billion respectively. OECD listed Afghanistan, Democratic Republic of Congo, Ethiopia, Pakistan and Kenya as the top five fragile ODA recipients in 2011. Similarly, the global economic body noted United States, European Union, International Development Association (IDA), United Kingdom and Japan as the top five ODA providers to fragile states in 2011. </div> <div> </div> <div> The report informed that Nepal received a net country programmable aid (CPA) of USD 10.25 billion from 2000-2013. Similarly, OECD’s outlook projected that the country will receive USD 3.08 billion in CPA during 2014-2016. However, aid inflow in Nepal is seen fluctuating as the country witnessed a 5 per cent decline in CPA in 2010-2011. In 2008-2009 Nepal observed a sharp rise in CPA by 32 per cent followed by a 1 per cent increase in 2009-2010.</div> <div> </div> <div> <span style="font-size:16px;"><strong>“Donors doing too little to strengthen domestic revenues in fragile states”</strong></span></div> <div> The report warns international donors that they are not doing enough to help fragile states increase their domestic revenue stating that only a tiny fraction of development aid goes into programmes aimed at improving tax collection. The report finds that just 0.07 per cent of ODA to fragile states is directed towards building accountable tax systems. “Donors pledged as far back as 2002 to make it a priority to help poor countries mobilise more domestic revenues. Yet fragile states still collect less than 14 per cent of their gross domestic product (GDP) in taxes on average, well below the 20 per cent level considered necessary to meet poverty goals,” states the report. </div> <div> </div> <div> According to the report, Afghanistan has received by far the most support in this area, notably from the International Development Association (IDA) for trade facilitation and from the US for public financial management. Haiti and Nepal remained next in line to receive this aid. “Haiti mainly benefitted from US technical assistancefor public financial management, while Korean aid inNepal helped modernise the customs system, and Germany and Denmark supported its revenue and tax administration,” says the report. </div>', 'published' => true, 'created' => '2014-02-17', 'modified' => '2014-02-21', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Nepal is among the world’s top 20 fragile countries to receive official development assistance (ODA) from multilateral and bilateral donors, according to a new OECD report. The report entitled ‘Fragile States 2014: Domestic Revenue Mobilisation’ informs that Nepal received USD 892 million in ODA in 2011.', 'sortorder' => '2490', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 8 => array( 'Article' => array( 'id' => '2617', 'article_category_id' => '201', 'title' => 'Prabal Gurung Takes Mustang To New York', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> It was a homecoming of sorts for designer Prabal Gurung, who drew inspiration from his homeland of Nepal for his fall 2014 collection that was presented Saturday during New York Fashion Week.</div> <div> </div> <div> Specifically, he was inspired by the remote Mustang region, where aspects of the local culture have remained unchanged since the 15th century. </div> <div> </div> <div> Prabal Gurung unveiled his fall/winter 2014 season in the cavernous recesses of New York’s Moynihan Station, watched by a packed house led by style queen Anna Wintour.</div> <div> </div> <div> Gurung, who formed his label in February 2009 after studying in India and New York, has dressed some of the world’s most famous women. He was born on March 31, 1979 in Singapore to Nepali parents and raised in Kathmandu. According to Gurung his new collection was a glimpse of his home.</div> <div> </div> <div> “I wanted to share with the rest of the world a little piece of me. It’s our fifth year now and, you know, show the world a glimpse of where I’m from,” he said. Effervescent and charming, dressed in jeans and a white T-shirt, the 34-year-old was delighted to show off a notice board backstage covered with pictures from his homeland. He travels back to Nepal once a year and loves to trek in the Himalayas, often just with a porter for company to recharge his batteries from the chaos of the jet-set life. </div> <div> </div> <div> Back in New York from such recent trip, he got further inspiration from oil paintings of friend British artist Cecily Brown, whose prints he also pointed out on the notice board. His show featured pashmina and anklets from Nepal, which were made in Italy, embroidered feathers from India, chiffon from Paris and sunglasses from London.</div>', 'published' => true, 'created' => '2014-02-18', 'modified' => '2014-02-23', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Award-winning designer Prabal Gurung unveiled his fall/winter 2014 season NY Fashion Week.', 'sortorder' => '2489', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 9 => array( 'Article' => array( 'id' => '2638', 'article_category_id' => '31', 'title' => 'In The Long Run, Ethics Pays', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <span style="font-size: 16px;"><strong>Prof C Panduranga Bhatta</strong> is a Professor of Business Ethics and Communication Group and Coordinator of Management Centre for Human Values at the Indian Institute of Management Calcutta (IIMC). He has been continuously involved in academic administration of the IIMC since 1999 and is the founder coordinator of Business Ethics and Communication Group. He was recently in Kathmandu for a conference on World Forum for Ethics in Business (WFEB). In an interview with New Business Age’s <strong>Angila Sharma</strong>, he discussed core principles of business ethics and its relevance in the present context. <strong>Excerpts:</strong></span></div> <div> </div> <div> <span style="font-size: 14px;"><strong>Generally business ethics and CSR are treated as synonymous. How to distinguish them?</strong></span></div> <div> Before the introduction of the term Corporate Social Responsibility (CSR), business ethics’ definition was limited to not doing corruption in business and was particularly limited to financial matters. But now, business ethics is defined and understood in a broader way and includes Corporate Social Responsibility also.So, I would like to say that CSR is one of the aspects of business ethics. As such, the business houses that are active in their CSR can be called ethical because they have realized that they have a duty to perform. </div> <div> </div> <div> Earlier, business houses would conduct business in an ethical manner but would not be concerned with things going around them. But, now, business houses cannot only be ethical in their business. They have to be aware about the things happening around them. The business houses should be concerned with the society because they make profit because of the ordinary people around them. So, CSR is a part of business ethics.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>The popular view including that of the government is that business ethics and profit making cannot go hand in hand. What is your opinion on this? </strong></span></div> <div> This is the biggest mistake people are making. We can take examples of corporations in the international arena that are making profit ethically. Ethics means taking care of the safety of the products; it means you don’t do any wrong to the customers through your products. Business ethics means that corporations allocate certain amount of their profit for the betterment of the people. So, the corporations, which are conducting business in an ethical manner, also earn profit.</div> <div> </div> <div> This issue can be looked upon in two ways. It depends on the business corporation whether it is looking at the short term or long term while starting a business.Short-term business means operating for a small period of time, earning profit in any manner and then shifting to a new place. We describe these kinds of businesses as ‘fly by night operators’. This type of activity is completely unethical and we do not consider these types of activities as business. We are talking about business corporations that are established to operate for a long period of time.Such business corporations do not limit themselves to stopping fraud and other corrupt activities, but widen their view to the entire society. Thus, in the long run, such business houses survive, make profit and they are considered as ethical business firms. In the long run, ethics pays.</div> <div> </div> <div> So, I don’t agree that business firms, which make profit, cannot be ethical.</div> <div> </div> <div> <span style="font-size: 16px;"><strong>In today’s competitive world, how can business houses gain comparative advantage through practicing business ethics?</strong></span></div> <div> Globalization can give you advantage as well as disadvantage. Firstly, if you are an ethical company, you will be welcomed everywhere. This is because of the reputation of the business house and reputation is built on ethics.If a business house has global ambition and wants comparative advantage, the business house has to build a brand first. Business houses have to take care of ethics firstly. For example: Infosys is a company that is present throughout the world. It is recognized and accepted everywhere because they have taken ethics as their main priority. They have a motto that says ‘Powered by Intellect; Driven by values’. They have been practicing it and people have been watching their loyalty towards their motto. If people are convinced, they will accept the company. This way the business houses can gain comparative advantage. Their ethics provide them the comparative advantage.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>What innovative methods are being practiced or developed to instil human values in the management of business organizations?</strong></span></div> <div> Human Values is a very comprehensive term. It includes the behaviour of the business houses towards its customers, employees, community and the environment. The business house has to be concerned about the environment and the community while practicing business. If the business house is not eco-friendly, it can affecthuman life and thus the business house is considered of not practicing human values.</div> <div> </div> <div> Business houses can instil human values in their practice through the development of caring attitude.Any business houses should consider human beings as their first priority. As a businessperson, relationship matters a lot. If business houses fail to maintain good relationship with the employees, customers and the community, it will fail. This way business houses can work for their betterment through respecting human values.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>How do you see the situation of business in South Asia?</strong></span></div> <div> The situation is picking up now because of globalization. People are exposed to the activities of business houses. Earlier, the situation was such that business houses would carry out their work in an unethical manner and to cover it up, they would do some charity and give donations. But, now, how any corporation makes business is noticed and reported. This is coming from the globalised context.</div> <div> </div> <div> Another thing that is improving the situation is the international ranking. Every business house wants to participate in the international ranking. For example: Transparency International ranking.The moment you perform corrupt activities or you compromise with the safety of the employees and customers, you are ranked in the top of the most corrupt company and the country. Earlier, companies were not concerned with the country’s image, but now, companies are tied up with the country. If the country does not have good image, nobody would want to do business in that country. Countries are the conglomerates of certain companies. So, the business houses are concerned with ethical issues because of the international ranking. This has helped in improving the situation of business ethics in South Asia and the rest of the world.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>What do you think makes an excellent leader?</strong></span></div> <div> There are so many aspects by which a person can become an excellent leader. Firstly, the person has to be sensitive towards the community and the people. Secondly, the person has to be creative and has to have a vision. The means and methods of achieving the vision is what matters the most. Any leader to be successful in the present context should have these qualities. Above all, it is very important that the leader is ethical because people will be watching the behaviour of the leader.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Marketing profession is derided as an example of unethical business practice. What is your suggestion to this professional field for overcoming this challenge?</strong></span></div> <div> In marketing, what matters the most is the product. Communication becomes very important while marketing. If you are giving false information to the consumers while selling the product, then, you lose reputation. What you are marketing and how you are marketing is very important. If you are advertising your product by giving false information, then that is a problem. If you are marketing a product that does no harm to the consumers, then it is not unethical.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>There is a school of thinkers who believe that ethics can’t be taught. How do you respond to this assertion?</strong></span></div> <div> This is nothing more than a myth. Teaching ethics directly to the students may not go well with the students. So, teaching business ethics should take another form. Rather, sensitizing people towards unethical acts can do no good. Teaching ethics in a direct way will be of little or no use. If ethics is incorporated in all the departments and activities, it can be useful. Awareness has to be created among people regarding ethics.</div>', 'published' => true, 'created' => '2014-02-20', 'modified' => '2014-02-21', 'keywords' => 'new business age business visitors news & articles, business visitors news & articles from new business age nepal, business visitors headlines from nepal, current and latest business visitors news from nepal, economic news from nepal, nepali business visitors economic news and events, ongoing busin', 'description' => 'Prof C Panduranga Bhatta is a Professor of Business Ethics and Communication Group and Coordinator of Management Centre for Human Values at the Indian Institute of Management Calcutta (IIMC). He has been continuously involved in academic administration of the IIMC since 1999 and is the founder coordinator of Business Ethics and Communication Group', 'sortorder' => '2488', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 10 => array( 'Article' => array( 'id' => '2644', 'article_category_id' => '170', 'title' => 'Evolve Or Ease Out Non-performing Employees', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong>--By Purna Man Shakya</strong></div> <div> </div> <div> A study shows that 60 per cent of a workforce includes average workers based on a 20-60-20-percent rule. Half of the remaining 40 per cent consists of top performers, and the other half includes poor performers. The poor performers can cause the most harm if employers don’t address their productivity problems. Employees who get away with underperforming create laziness in the workplace that hampers the productivity of others. So, in order not to retain non-performing employees three major steps should be taken.</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>Identify performers from the non-performers</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>Explore reasons of non-performance</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>Corrective actions and administering formal discipline</div> <div> </div> <div> <span style="font-size: 16px;"><strong>Identify performers from the non-performers</strong></span></div> <div> Generally saying performers make positive contributions in the achievement of both team and organizational goals and non-performers hardly make such contributions. So, identification of performers is the major strategic step towards non-retaining non-performing employees. Performers normally exhibit following behaviours: </div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>They are efficient in terms of communication, workloads handling, change management, managing personal and professional developments.</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>They prefer to work closely with co-workers and exhibit inspirational leadership. </div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>They are good at planning their own futures and also use the work they do with the employers to help them grow their ambitions. They are often mentors and trainers in the workplace because they thrive on helping others improve their productivity. They can determine what they must accomplish, set goals and organize themselves to achieve these goals efficiently. They also actively try to improve their performance, which means they actively find resources they need. It also means they tend to learn from their own mistakes. Usually they are better at self-direction.</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>They recognize that they are their own bosses and the employer is a consumer. </div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>They are fearless when it comes to doing what it takes to succeed. </div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>Performers also generate many of a company’s new ideas because they tend to look for ways to improve procedures to maximize their own productivity. </div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>They adhere to policies, procedures, and regulations </div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>They also participate in meetings and other activities for the meaningful outputs.</div> <div> </div> <div> Failing to comply with the above behaviours will qualify a person to be a non-performer.</div> <div> </div> <div> <span style="font-size: 16px;"><strong>Explore reasons of non-performance</strong></span></div> <div> Secondly we should explore reasons of non-performance. Reasons of non-performance can be discussed under four dimensions:</div> <div> </div> <div> <span style="font-size: 14px;"><strong>a. Employee</strong></span></div> <div> The employee may:</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>Lack requisite technical skills, public relation skills, and work ethics.</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>May be an acceptable performer but is unhappy and wants a different position.</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>Have an undisclosed learning disability or medical condition affecting performance</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>Have problems with authority: rejects idea that someone will judge their work</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>Have mental health challenges: depression, personality disorder, post-traumatic stress disorders, etc.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>b. Poor employee grooming by supervisor</strong></span></div> <div> Sometimes supervisors also contribute in grooming poor employees. An employee has the capacity to perform at a higher level but is not been given initial tools and direction to create an opportunity for success. The employees have different assumptions, about what is considered good performance by the supervisor. This situation is often created when supervisor fails to meet regularly with the employees. The supervisor is called as a poor communicator when an employee does not understand relative priorities of various tasks, does not know company policies or procedures and also does not understand what supervisor likes, wants or dislikes.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>c. Job</strong></span></div> <div> Sometimes the person is capable and knows what to do but the volume is just too high for one person to handle. Another issue is whether the employee has enough information and tools to complete their work in an optimum fashion or not. When unrelated or obviously different tasks are thrown together, it may be difficult to find the unique individual who is good at all of them. An example would be a position that requires high-level people relational skills and high-level scientific skills. Sometimes poor job design also contributes towards non-performance. Some of the potential job design issues are:</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>Job volume is based on extremely high performer and person is new</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>Job contains too many unrelated accountabilities</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>Quality standards are impossible to meet</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>The job qualifications used in recruitment don’t actually match what is required for the position.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>d. Workplace atmosphere</strong></span></div> <div> Most of us have experienced a toxic workplace environment in which good employees are so distracted by stress and drama that they cannot properly attend to job performance. Here are potential environmental issues that might be a source of non-performance.</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>The workplace atmosphere is excessively negative with toxic co-workers, bosses and power struggles. </div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>A powerful informal leader controlling activities.</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>Good people aren’t consistently praised/rewarded and so become disinterested.</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>Negative conduct is not redirected so that co-workers are stressed by co-worker’s abusive behaviour.</div> <div> </div> <div> <span style="font-size: 16px;"><strong>Corrective actions and administering formal discipline</strong></span></div> <div> Dealing with a non-performing staff member is one of the most difficult tasks one faces as a manager. Before taking actions all the options should be considered carefully. Formal discipline is one option, but this can be awkward and disruptive to the team, and may have legal implications. Formal discipline should be used only as a last resort tool when all else has failed. As per Labour Law of Nepal employees cannot be terminated on performance ground but can be terminated on the ground of misconduct. But due to employee union’s influence it is being hard to terminate employees even on misconduct ground. So, formal disciplinary action, such as formal warnings, suspension or termination should be exercised only when all other options are exhausted. If an organization does everything in its power to help a non-performing employee and still remains unsuccessful, it may have to resort to formal discipline. Four less-severe strategies are explained below. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>a. Counsel to correct poor behaviour or performance.</strong></span></div> <div> Counselling is a pre-planned informal discussion with a team member. The goal is to raise awareness that a problem exists and correct behaviour. During a counselling meeting, problem should be clearly stated; employee should be asked for his/her thoughts about the situation. There should be clarity on both sides on “what needs to be done differently now onwards along with clarity on action plan”. The counselling should end up with encouragement and should set up follow up meeting to discuss results.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>b. Confront inappropriate behaviour.</strong></span></div> <div> Confrontation is an unplanned response to an urgent need to intervene when an employee exhibits poor performance or behaviour. An example may be when a manager witnesses an action that compromises company safety regulations, policies, or procedures. </div> <div> Confrontation should: </div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>include observation, inquiry, and listening</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>acknowledge the effort and explain the concern</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>teach corrective action</div> <div> </div> <div> <span style="font-size: 14px;"><strong>c. Document both good and bad performance.</strong></span></div> <div> If the problem intensifies, employee’s performance and behaviour should be documented which will be useful while defending organization legally in future. Documentation should be fair, consistent, and objective. In addition, documentation should note corrective actions and results- good or bad. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>d. Measure performance.</strong></span></div> <div> Measurement of performance gives foundation for raises, promotions, and corrective actions. Without measurable performance objectives, organization gets open to all kinds of arguments. In the case of disciplinary action, the arguments may have legal implications. Organization must be able to demonstrate objectively the events leading up to disciplinary action. The evidence must speak for itself. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>e. Withdrawing responsibilities</strong></span>.</div> <div> This step should be taken as a tool to demotivate and harass non-performing staffs for encouraging him/her to take voluntary retirement.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>f. Administer formal discipline as a last resort.</strong></span></div> <div> If all else fails to bring compliance, organization must be prepared to enter into the disciplinary process. Discipline is a formal process with serious implications and can put organization in a position to defend itself legally. Generally there are three outcomes of the formal disciplinary process, and in two of the three possible outcomes, organization will lose the employee: </div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>The employee will live up to the expectations and successfully correct his or her behaviour or performance.</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>The employee will not live up to the expectations and will eventually be terminated.</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>The employee will resign outright.</div> <div> </div> <div> When taking formal disciplinary action company’s policy should be followed. Progressive disciplinary action may consist of first level warning, second level warning, stopping pay increment, suspension without pay and termination. At the same time upper management, human resources, legal counsel and any other parties with an interest in action should be consulted before taking such actions. Discipline must be applied consistently in all situations. It should be kept in mind that the organization acts in accordance with the country’s laws, any existing contracts and any collective bargaining agreement.</div> <div> </div> <div> The bottom line of termination is; it should be done with proper homework in order to provide safety to the organization and staffs.</div> <div style="text-align: right;"> <em>(Based on a discussion organised by Real Solutions, a Human Resource consulting firm recently)</em></div> <div> </div>', 'published' => true, 'created' => '2014-02-20', 'modified' => '2014-12-22', 'keywords' => 'new business age management gyan news & articles, management gyan news & articles from new business age nepal, management gyan headlines from nepal, current and latest management gyan news from nepal, economic news from nepal, nepali management gyan economic news and events, ongoing management gy', 'description' => 'Performers generate many of the company’s new ideas because they tend to look for ways to improve procedures to maximize their own productivity.', 'sortorder' => '2487', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 11 => array( 'Article' => array( 'id' => '2589', 'article_category_id' => '91', 'title' => 'Made In Nepal: Fantasy And Fact', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Siromani Dhungana</strong></div> <div> </div> <div> What does ‘Made in Nepal’ stand for? The Nepali products cannot get foothold in global market unless manufacturers cannot answer this question. Young entrepreneurs, Non-Resident Nepalis (NRNs), industrialists and even bureaucrats often talk about making Brand Nepal visible. It, however, has been more than evident that they have ignored or neglected bottlenecks to make the brand Nepal visible.</div> <div> </div> <div> “Nepali products lack competitiveness. High lending rate and unnecessary labour cost have resulted in higher production cost of Nepali products,” says economist Rameshore Khanal.</div> <div> </div> <div> Another crucial issue is quality. Economist Sujeev Shakya opines, “Made in Nepal tag should not be equivalent to substandard products. Quality is key issue and our products cannot get good reputation unless we can assure it.”</div> <div> </div> <div> Nepal could make its own identity in agro and herbs products if there would have been a lab that could assure quality, said Khanal. Developed countries give high priority to quality while importing agro products, he said. But Nepal lacks even a standard lab.</div> <div> </div> <div> Honey and other products could get market if we had been able to assure their quality.</div> <div> </div> <div> Some Nepali brands are finding markets in other countries. But the question is: are they commercialized? Generally, Nepali products are focused on niche segments that are too small, said young entrepreneur Sabda Gyawali.</div> <div> </div> <div> In fact, Made in Nepal products have still a long journey to go in terms of commercialization. It is harsh reality that foreigners do not buy Nepali products because of its commercial value but as a souvenir or showpiece or for aesthetic, Gyawali shared with The Corporate.</div> <div> </div> <div> Nepali manufacturer should be able to create unique selling point (USP) of their products, agreed Samir Thapa, president of Nepalese Young Entrepreneurs’ Forum that organizes Made in Nepal expo every year.</div> <div> </div> <div> Experts, however, point out that the current modalities of promotional activities are very effective. “It is quite ironical that we target Nepali Diaspora population even if we organize Made in Nepal expo abroad,” an economist told The Corporate.</div> <div> </div> <div> Nepali manufacturers’ failure to tap evolving market is another reason. Researcher and member of NYEF Manish Jha said that Nepali manufacturers have failed to identify their target market. Export to Europe and USA has been quite rhetorical, he said. “It is time to seek evolving market like South Asia which is more convenient to Nepali exporters.”</div> <div> </div> <div> It is important to emphasise here that we need to invest in various aspect including that of branding, marketing skills, technology and networking before ‘Made in Nepal’ tag gains recognition and respect in the global market.</div>', 'published' => true, 'created' => '2014-02-17', 'modified' => '2014-02-21', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'As Nepali entrepreneurs look to expand their footprint globally, many analysts believe that they still have a long way to go. Nepali products should maintain quality to make the tag ‘Made in Nepal’ an accepted one in the global market.', 'sortorder' => '2486', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 12 => array( 'Article' => array( 'id' => '2643', 'article_category_id' => '47', 'title' => 'A Twist Of Time', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> </div> <div> <strong>--By Sujan Tiwari</strong></div> <div> </div> <div> Binayak Shah, the President of European Economic Chamber Nepal, Vice President of Summit Group of Hotels and Resorts and Managing Director of Airport Hotel, had started his career from the young age of 17. Though deterred from business as a youth, he ultimately ended up where he was supposed to: in a mega scale business of hospitality and World Expos. Shah, who likes to call himself a development oriented businessman, says that making money is not his sheer aspiration. “I feel that I have to help my country through my business, only then it becomes fruitful,” says Shah.</div> <div> </div> <div> Shah started off as a journalist and used to work for Gorkhapatra and Radio Nepal. “I used to do reporting and proof reading for Gorkhapatra, and did news monitoring for Radio Nepal. That’s where I believe I started my career,” recalls Shah. </div> <div> </div> <div> Shah says he was always oriented towards business, since a very young age. His father never held a job; he was involved in trade and commercial agriculture and did jute and other plantations on a big scale. Unfortunately, a flood in Koshi once swept away all their land and plantation, sending his father deep in debt. His father was deeply shocked by the event, lost a lot of money and stopped doing business. His father also advised him to get a government job and keep away from business. </div> <div> </div> <div> <span style="font-size: 16px;"><strong>Early Life</strong></span></div> <div> Shah was born in 1953 in Durbar Marg of Kathmandu to Late Devendra Bahadur Shah and Gauri Shah. Shah was the eldest of three sisters and a brother. His house was in the same place where Hotel Annapurna is today. “I was born and brought up there till the age of ten. We had to sell our property owing to pressure from the Royal Palace back then as there were plans of establishing the hotel,” recalls Shah. Then the family moved to ancestral house in Gyaneshwor, and Shah still resides in the same place today. </div> <div> </div> <div> Shah did his schooling from Shanti Vidya Griha. He says he was admitted directly in Grade 5 as he used to take home tuitions prior to joining school. He completed his SLC from there, and did his IA from Mahendra Ratna College. He did his graduation from Trichandra College, and finished his Masters in Economic from TU. </div> <div> </div> <div> <span style="font-size: 16px;"><strong>Initiation</strong></span></div> <div> After completing his studies, Shah opted for government job. He joined the then Trade Promotion Centre and worked there for 16 years. He served there in various positions including Department Head and In-charge of International Marketing. During his tenure, he promoted Nepal and Nepali products like carpets, garments and handicrafts in Western European countries. He worked with various international development agencies like GTZ, International Trade Centre and others to promote Nepali products in Europe. “I participated in numerous international trade fairs and exhibitions back then,” says Shah. </div> <div> </div> <div> As a Thakuri, job in army or police was another prospect for him, but life had other plans for him. Thanks to his job in Trade Promotion centre, his orientation towards business grew even stronger. “Government jobs didn’t suit me well, there were lot of political interferences, still I held on for some time,” says he.</div> <div> </div> <div> During his 16 years government job, he made a lot of contacts and relations with international business community. Then he left the job in 1992, and with his initiation, Nepal German Chamber of Commerce and Industries was formed. Shah was the first CEO of the Chamber and he fostered the trade between Nepal and Germany during his tenure. “I formed Business Advisory Service program which was a result of cooperation between German Development Bank and Nepal German Chamber. The program helped numerous SMEs in upgrading their capacities in terms of export,” says Shah. </div> <div> </div> <div> <span style="font-size: 16px;"><strong>Later Years</strong></span></div> <div> Shah’s involvement in Trade Promotion Centre and Nepal German Chamber of Commerce and Industry made him ready to do business on his own. “I had assisted numerous businesses as Business Development Consultant. Later I thought that it was time for me to start something of my own,” says Shah. In the year 2000, he jumped into business and became a full time business person. </div> <div> </div> <div> Shah then started organizing mega-scale international fairs, events and exhibitions that promote Nepal and Nepali products. He specializes in constructing Nepali pavilions with life-size replicas of Nepali temples and structures illustrating art and architecture of Nepal in World Expositions around the globe. World Exposition is a huge public exhibition that is organized around the world by Bureau of international Exposition (BIE), Paris, of which Nepal is also a member. A total of 167 countries are member of BIE. </div> <div> </div> <div> </div> <table align="center" width="100"> <tbody> <tr> <td> <img alt="Nepal Pavillion at Expo 2010 Shanghai, designed, built and operated by IEG" src="/userfiles/images/prs2%20(Copy).jpg" style="border-width: 0px; border-style: solid; width: 550px; height: 368px;" /></td> </tr> <tr> <td bgcolor="#DDDDDD"> <div align="center"> Nepal Pavillion at Expo 2010 Shanghai, designed, built and operated by IEG</div> </td> </tr> </tbody> </table> <div> </div> <div> <span style="font-size: 16px;"><strong>Present Times</strong></span></div> <div> Shah participates in the World Expos through his company Implementing Export Group (IEG), where he is also the Director of International Marketing and Promotion. Shah has constructed various themed Nepali pavilions in World Expos in Germany, China, Japan, Australia, South Korea and other countries. His pavilions have been viewed by millions of people worldwide. “The participation in World Expos massively supports tourism, trade and goodwill of Nepal. We represent entire Nepal in a small scale in these Expos,” says Shah. The next World Expo is going to be held in Milan in 2015 with the theme ‘Feeding the Planet, Energy for Life’, and Shah is currently busy preparing for it. </div> <div> </div> <div> “The Expos do a lot of promotion of Nepal and supports Nepal in numerous ways,” says he. Shah, who recently turned 60, says that participating in these Expos required him to stay overseas for a long time. “Since travelling very frequently doesn’t suit me, I started looking after Airport Hotel as Managing Director,” says he. </div> <div> </div> <div> <span style="font-size: 16px;"><strong>Personal Side</strong></span></div> <div> Shah married Shanta Shah in 1979, and the couple has a son and a daughter Bishan and Ojaswi. Shah says he is busy on all days, and doesn’t usually take leave even on Saturdays. “When I am free, I get restless. I have to be working all the time and I like to keep myself occupied all the time. Free time makes you worry, and I try to avoid that,” says a workaholic Shah. </div> <div> </div> <div> Shah gets up at 5:30 in the morning and is always at his office at Airport Hotel at 8:30. He holds a meeting everyday among his staffs. “There are various departments, and all have to be coordinated for the smooth operation of Hotel. I coordinate between all the departments through the meeting every day,” explains Shah. According to him, maintaining good personal relation with the staffs is the key to make them more productive and motivate them. In the day, he looks after the tasks of Summit Group of Hotels and Resorts. Shah’s evenings are spent in socializing and get-togethers and parties. </div> <div> </div> <div> Shah used to play cricket when he was young, and also was the captain of his team in University. He still finds time to watch cricket on TV, and is a fan of Nepali cricket team. He also loves photography and travelling. “My business has allowed me to travel a lot. I have travelled Europe extensively, and many other countries around the world,” says he. </div> <div> </div> <table align="center" width="100"> <tbody> <tr> <td> <img alt="Shah with his family" src="/userfiles/images/prs1%20(Copy)(1).jpg" style="border-width: 0px; border-style: solid; width: 550px; height: 368px;" /></td> </tr> <tr> <td bgcolor="#DDDDDD"> <div align="center"> Shah with his family</div> </td> </tr> </tbody> </table> <div> </div> <div> <span style="font-size: 16px;"><strong>Word of Advice</strong></span></div> <div> “I am a self made man; I am where I am only because of me. I have no regrets, and I am happy,” says the contented man. In his words, time is the most crucial thing in one’s life, and it should never be wasted. “Time is the most important thing, it won’t wait for you and you won’t get it back. If you act on time, you can achieve a lot, if you miss it, it won’t come back for you,” says Shah. </div> <div> </div> <div> Shah believes that Nepal has come have a long way in a few years, but still a lot needs to be done. “All entrepreneurs and businessmen should think for the country and make long term plans. No one gets rich overnight,” says he. According to Shah, Nepal’s true potential is in numerous sectors, we Nepalis just have to be sincere towards our work. “Nepal cannot compete with India and China in manufacturing, but it is not the same scenario in herbs, tourism and hydropower. We should be able to capitalize our resources,” says Shah. Shah also believes that if we can commercialize agro-forestry, then we can feed the entire world. </div>', 'published' => true, 'created' => '2014-02-20', 'modified' => '2014-02-21', 'keywords' => 'new business age personality news & articles, personality news & articles from new business age nepal, personality headlines from nepal, current and latest personality news from nepal, economic news from nepal, nepali personality economic news and events, ongoing personality news of nepal', 'description' => 'Binayak Shah, the President of European Economic Chamber Nepal, Vice President of Summit Group of Hotels and Resorts and Managing Director of Airport Hotel, had started his career from the young age of 17. Though deterred from business as a youth, he ultimately ended up where he was supposed to:', 'sortorder' => '2484', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 13 => array( 'Article' => array( 'id' => '2640', 'article_category_id' => '79', 'title' => 'Nepal-Sri Lanka: The Half Century Bond', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> </div> <div> <strong>--By Upashana Neupane</strong></div> <div> </div> <div> <img alt="Sri Lanka" src="/userfiles/images/br5%20(Copy)(1).jpg" style="float: right; margin: 0px 0px 0px 10px; width: 300px; height: 452px;" />Diplomatic relations betweenNepal and the Democratic Socialist Republic of Sri Lanka established 57 years ago on 1st July 1957. Relations between the two countries are marked by goodwill, mutual understanding and cooperation. </div> <div> </div> <div> Nepal opened an Honorary Consulate General in Colombo in 1975 and established its embassy in 1995. Sri Lanka has a residential embassy in Kathmandu since 1993. Nepal and Sri Lanka are the founder members of the South Asian Association for Regional Cooperation (SAARC) and are also the members of another regional organization called Bay of Bengal Initiatives for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC). Both countries share similar views on many international issues and work closely in various international forums such as the UN, NAM, WTO, etc.</div> <div> </div> <div> <span style="font-size: 16px;"><strong>Trade and Commercial Relations</strong></span></div> <div> Nepal and Sri Lanka concluded bilateral trade agreement on 3 April 1979. Despite this agreement, trade between the two countries is not up to the desired level due to, among other things, higher cost of transportation, lack of conducive environment for business, lack of interests on the part of business people etc.</div> <div> </div> <div> <strong><span style="font-size: 16px;">Nepal’s Trade with Sri Lanka</span></strong></div> <div> Sri Lankas’ major exports to Nepal are cocoa and cocoa preparations, coffee, tea, spices, electrical machinery and equipment, parts of sound recorders and reproducers, television, cereal preparations, flour, starch or milk pastry cooking products, sugar and sugar confectionery, miscellaneous edible preparations, apparel articles and clothing accessories- knitted or crocheted , edible vegetables, certain roots and tubers and so on.</div> <div> </div> <div> Sri Lanka’s major imports from Nepal are grains (lentils). Other import items, though insignificant, are plastic articles, articles of wood charcoal , carpets and other floor coverings, art work, collectors' pieces and antiques, electrical machinery and equipment and parts of sound recorders and reproducers, television, printed books, newspapers, pictures and products related to the printing industry, manuscripts, raw hides, skins (other than fur skins), leather and so on.</div> <div> </div> <div> The trade figure for the past four years between Nepal and Sri Lanka has been as follows:</div> <div> </div> <div> <img alt="Nepal’s Trade with Sri Lanka" src="/userfiles/images/br1%20(Copy)(7).jpg" style="width: 550px; height: 408px; margin-left: 10px; margin-right: 10px;" /></div> <div> </div> <div> <span style="font-size: 16px;"><strong>Tourists from Sri Lanka</strong></span></div> <div> Lumbini is one of the holiest destinations to the Sri Lankan Buddhists. Sri Lankan government has been reiterating its support to Nepal’s efforts to further develop Lumbini as a City of World Peace. Sri Lanka has constructed rest house for Sri Lankan Buddhist pilgrims and a Monastery Complex in Lumbini. </div> <div> </div> <div> <img alt="Tourist Arrival to Nepal from Sri Lanka" src="/userfiles/images/br2%20(Copy)(4).jpg" style="width: 550px; height: 413px; margin-left: 10px; margin-right: 10px;" /></div> <div> </div> <div> <span style="font-size: 16px;"><strong>Air Services Agreement </strong></span></div> <div> With the aim to increase tourists flow from either country through direct air connectivity between Kathmandu and Colombo, Nepal and Sri Lanka had signed an Air Services Agreement (ASA) on 19 February 1977. On 23 November 2004, a new Memorandum of Understanding (MOU) was signed by both nations in Colombo for reviewing and replacing the previous agreement. The Air Service Agreement and additional MOU on increasing the air seats and providing fifth freedom rights to Sri Lankan airlines was agreed at the negotiations held during 22-24 January 2009, in Kathmandu. </div> <div> </div> <div> <img alt="TidBits" src="/userfiles/images/br3%20(Copy)(4).jpg" style="width: 550px; height: 342px; margin-left: 10px; margin-right: 10px;" /></div> <div> </div> <div> <span style="font-size: 16px;"><strong>Joint Venture </strong></span></div> <div> In the 1990’s the Sri Lankan Bank of Ceylon opened a joint venture bank in Nepal. However the Sri Lankan bank withdrew later due to what they call as unfavourable circumstances. Presently some commercial banks operate between the two countries. Commercial Bank of Ceylon, Sri Lanka and some of Nepal’s private sector bank have close links. In October, 2013 delegation of Commercial Bank of Ceylon, Sri Lanka visited Nepal. Nepal Sri Lanka Chamber of Commerce has been established for easing joint ventures and trade between both nations. Nepali investors have invested over $ 200 million in Sri Lanka’s hotel and leisure sector like the Hotel Taj Samundra and Grand Oriental Hotel. Binod Chaudhary of Chaudhary Group is planning to invest US $ 100m for setting up cement plant and some leisure projects in coastal area of Sri Lanka. </div> <div> </div> <div> <span style="font-size: 16px;"><strong>Joint Economic Commission</strong></span></div> <div> Nepal and Sri Lanka has signed an Agreement on March 2-4, 2009 to establish Joint Economic Commission to be led by the Foreign Ministers of both countries. The agreement contains provisions for cooperation in areas of trade, finance, agriculture, industry, development of infrastructure, science and technology, investment and other matters mutually agreed upon. The first meeting of JEC is to be held in Colombo.</div> <div> </div> <div> <span style="font-size: 16px;"><strong>Exchange of Visits</strong></span></div> <div> Exchange of high-level visits from both sides at various levels has contributed in elevating existing bilateral relations to new heights and have proved highly productive for creating an conducive atmosphere for upgrading mutual trade and commercial relations.</div> <div> </div> <div> <img alt="Highlights of Nepal- Sri Lanka Relation" src="/userfiles/images/br4%20(Copy)(1).jpg" style="width: 550px; height: 565px; margin-left: 10px; margin-right: 10px;" /></div> <div> </div> <div style="text-align: center;"> <hr /> <p> <strong style="font-size: 18px;">“We are entering into tourism cooperation with Nepal”</strong></p> </div> <div> <div> </div> <div> <table align="right" style="margin: 0px 0px 0px 10px;" width="25"> <tbody> <tr> <td> <img alt="W.M. Senevirathna, Ambassador of Sri Lanka to Nepal" src="/userfiles/images/br1a1%20(Copy).jpg" style="border-width: 0px; border-style: solid; width: 200px; height: 233px;" /></td> </tr> <tr> <td bgcolor="#FFFFFF"> <div align="center"> <div> <strong>W.M. Senevirathna</strong></div> <div> <em>Ambassador of Sri Lanka to Nepal</em></div> </div> </td> </tr> </tbody> </table> <div> <span style="font-size: 14px;"><strong>How is your experience in diplomatic career? </strong></span></div> <div> I have come to serve in Nepal, one of the world’s beautiful landmass filled with hospitable and friendly people. Sri Lanka and Nepal both have lot of similarities like culture, religion, food, friendliness and hospitability. I joined government service first as a graduate teacher in 1979 in Vidumina Piriven College, Kandy and joined the Sri Lanka Foreign Service as an Assistant Director at the Ministry of Foreign Affairs, Colombo in 1985. Since then, I have worked in ten Sri Lankan diplomatic missions including West Germany, Pakistan, Malaysia, Lebanon, USA, Canada, and Iraq. I have served as Sri Lankan ambassador to the Philippines, Israel and Nepal. </div> <div> </div> <div> Apart from this I have worked at the Ministry of External Affairs of Sri Lanka for a short period. I was the Vice Chairman (2006) and Chairman (2007) of the Governing Board of the Colombo Plan Staff College for Technician Education (CPSC) in Manila. I have represented Sri Lanka in various regional and international conferences such as South Asian Association for Regional Conferences [SAARC], World Bank, International Natural Rubber Organization [INRO] and Asian Regional Forum [ARF]. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>You have been in Nepal for nearly a year now. How are your impressions? </strong></span></div> <div> During this time I have met and interacted with Nepal’s senior government officials, politicians, diplomats, and businessmen and exchanged views at various levels. Within this one-year tenure, many high level delegations from Sri Lanka have visited Nepal, especially Lumbini. </div> <div> </div> <div> Nepal is such a beautiful country filled with lots of historical sites, mountains, and other natural resources. During my stay here, I have travelled to different parts of this country; Pokhara, Lumbini, Chitwan. I have trekked from Nagarkot to Dhulikhel and done rafting in Trishuli and Dolalghat. I have visited Chitlang and had an opportunity to interact with the friendly people of the village. I have also visited historical places such as Bhaktapur, Durbar Square that have masterpieces of skilful architecture, sculptures, and well-preserved ancient monuments that represent the living cultural heritage of Nepal. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>How do you evaluate the last elections and where do you see the country heading to next? How will the polls and the outcome affect regional peace and stability and Nepal’s relations with Sri Lanka?</strong></span></div> <div> The Constituent Assembly election held on 19th November 2013 was a new step towards the development of the country. The election was conducted in a very peaceful environment and was appreciated by local and foreign observers. Asian Network for Free Elections [ANFREL], Carter Foundations and other observers from different countries took part. The Nepali government had invited SAARC observers to visit and observe the election. Two delegations from the Sri Lankan Election Commission had observed the election. Out of the total 12.1 million population, 9.4 million people casted votes. It is a turnout of 78%, which is very high. As the election was a success, the constitution of Nepal can be finalized.</div> <div> </div> <div> As a representative of the Sri Lankan Government, we respect Nepali people’s mandate. Political stability will enhance peace and socio economic development of a country. Nepal Stock market Index NEPSE passed 700 points after the election. This reflected investors confidence in the government.</div> <div> </div> <div> Benefits of the election include inflow of Foreign Direct Investments [FDI] and representation in regional and international conferences, such as hosting the SAARC Summit in the coming year.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Despite signing bilateral trade agreement in 1979, business between the two nations is quite low, less than 2 billion NRs in the last financial year [exports and imports together]. Why still insignificant?</strong></span></div> <div> Trade between the two countries has remained at a low level. The Sri Lankan and the Nepali government have taken important steps in the economic and tourist sectors with an aim to increase the volume of bilateral trade, investment and tourism. Various issues have limited bilateral trade between both countries. Limitations include the high cost of transportation and lack of direct air connectivity. These limitations have limited the volume of import and export. Both countries produce and export the same crops and commodities. However, Sri Lanka imports carpets, woollen clothes and lentils from Nepal and exports cocoa, cocoa preparations, table and kitchenware, tea, gem and jewellery to Nepal</div> <div> </div> <div> <span style="font-size: 14px;"><strong>What specific measures do you suggest for enhancing the business relations and total value and volume of business between the two nations?</strong></span></div> <div> The total value and volume of trade between the two nations is not satisfactory due to the various reasons. Primarily we would like to have direct air connectivity and an exchange of business delegations to attend trade fairs. Recommending each other to attend trade fairs business forums in each other’s capital will help to interact and promote business.</div> <div> </div> <div> I am pleased to announce that the Chaudhary Group, Nimbus, Youth Entrepreneurs, and Sagarmatha Insurance have already taken steps in this regard. They have visited Sri Lanka and taken part in business forums to extend their business. Similarly, various Sri Lankan companies are taking part in Nepali trade fairs to expand their business here.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Arrival of Sri Lankan tourists to Nepal, especially to Lumbini, has crossed 75,000 a year. What trends and numbers you expect in near future? How can Nepal tourism be promoted in Sri Lanka?</strong></span></div> <div> As you are perhaps aware, 70% of the Sri Lankan population is Buddhists. Being Buddhist, they would like to see the birthplace of Prince Siddhartha, “Gautam Buddha” with the excavation at the Mayadevi Temple, Lumbini. Sri Lankan visitors are keen to visit Lumbini, Nepal and want to experience the beauty Nepal offers.</div> <div> </div> <div> We are in a process to enter into tourism cooperation agreement with the Nepali government so that it will be easy for Sri Lankan tourist to visit Lumbini.</div> <div> </div> <div> Through tailored tour packages to Lumbini and historical Buddhist places, Nepal can attract Sri Lankan and other nation tourists. More than 5000 Sri Lankan tourist visit to Kathmandu by air and I would like to inform that Sri Lanka Tourist are the number one travellers to Lumbini. If tour packages and facilities are provided, we hope to see the numbers exceed 1000,000.</div> <div> </div> <div> The Sri Lankan Embassy in Nepal with support of Sri Lanka Tourism Promotion Bureau is arranging a familiarization tour to Sri Lanka for Nepal Tour Operator Association in 2014. I think Nepal should prepare some awareness programme, for example tour packages and other facility to attract Sri Lanka tourists.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>What are the initiatives taken by Sri Lanka to upgrade tourism and facilities in Lumbini?</strong></span></div> <div> Sri Lanka and Nepal signed the Agreement on Cultural Cooperation in 1999,to expand their cultural relationship further. Sri Lanka has agreed to assist Nepal in heritage management and proposed to establish a course on Culture and Heritage Studies at a university in Nepal.</div> <div> </div> <div> Support has been extended for Nepali students to study Therawada Buddhismin Sri Lanka. Sri Lanka re-establishment of Therawada Buddhism in Nepal. In 1992 a pilgrims resting place, “Dutugemunu Pilgrim Rest,” was established for in Lumbini for the Sri Lankan devotees. This wasrenovated in 2012 to accommodate over 135 visitors. A bridge close to Lanka Ramaya temple at gate no. 4 of the Maya Devi Temple was constructed to making it easy for visiting the temple. Adding to, the road near the Sri Lankan Temple, which is shortest access to Mayadevi Temple, was widened. The Sri Lankan Government spent SLRS 90 million on all these projects to facilitate Sri Lankan tourists visit to Lumbini.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>There has been an air service agreement between the two nations for more than 25 years, which was upgraded recently as well. What is its status and what are the benefits of having fifth freedom rights for Sri Lankan airlines?</strong></span></div> <div> Bilateral Air Service Agreement was signed during H.E. the President’s last visit to Nepal in March 2009. Lack of direct air connectivity between the two countries is one of the major barriers in promoting trade.</div> <div> </div> <div> Code Sharing Basis will facilitate both Sri Lankan and Nepali airlines, to travel to each other’s countries. The fifth freedom right will enable Sri Lankan airlines to get passengers of other destination as well. Sri Lankan government would like to commence air connectivity in the near future and discussions in this regard are being held.</div> <div> </div> <div> Joint Economic Commission between the two nations was formed a few years earlier. What roadmap and outcome you see of the same in the next two years?</div> <div> We signed the MOU on Nepal – Sri Lanka Joint Commission in March 2009. Both countries have agreed to hold the first Joint Economic Commission meeting in Sri Lanka. We hope to conduct annual Joint Economic Commissions meet in each other’s capital.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Sri Lanka has a small population, history of civil war, and difficulties in its relations with neighbours, much like Nepal. What suggestions you have for the building of new Nepal, in light of the Sri Lankan nation-building and development experience? </strong></span></div> <div> Sri Lanka’s population is 21 million. There was no civil war in Sri Lanka but a terrorist war. Beginning on 23 July 1983, there was an insurgency against the government forces by the Liberation Tigers of Tamil Eelam [LTTE] which fought to create a separate and independent Tamil state called Tamil Eelam . 12% of the population demanded 2/3 of Coastal area and 1/3 of the total Area of the country. Government’s main policy was ‘One Country and One Nation’. After a 30 year military campaign, the Sri Lankan military defeated the Tamil Tigers in May 2009, ending the terrorist war. </div> <div> </div> <div> For over 30 years, this terrorist war caused significant hardships for the population, environment and the economy of the country. An estimated 40,000 people were killed during the war but Sri Lanka was able to sustain over 6% economic growth rate.</div> <div> </div> <div> During the conflict period, the Sri Lanka government was able to attract Foreign Direct Investment that prioritized infrastructure development. For nation building, President of Sri Lanka requested all political parties to join hands with the government to overcome national problems. This succeeded in 2009. All political parties supported the government for boosting national economy by forgetting their political differences. As a result, Sri Lanka has positive indicators. </div> <div> </div> <div> I wish the newly elected member of the Constituent Assembly of Nepal could get together and join hands for the formation of a stable government and serve the people of this beautiful country.</div> </div> </div> <p> </p>', 'published' => true, 'created' => '2014-02-20', 'modified' => '2014-02-20', 'keywords' => 'new business age bilateral relations news & articles, bilateral relations news & articles from new business age nepal, bilateral relations headlines from nepal, current and latest bilateral relations news from nepal, economic news from nepal, nepali bilateral relations economic news and events, o', 'description' => 'Diplomatic relations between Nepal and the Democratic Socialist Republic of Sri Lanka established 57 years ago on 1st of July, 1957. Both the Countries are bound by warm and friendly economic, cultural and political relations.', 'sortorder' => '2483', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 14 => array( 'Article' => array( 'id' => '2642', 'article_category_id' => '80', 'title' => 'Degrading Higher Education System', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <div> <strong>--By Narayan Prasad Paudel</strong></div> <div> </div> <div> Higher education in Nepal has drawn massive attention and concern from various communities across the nation. If higher education system of the country is reliable, quality conscious, functional and market and need driven, it ultimately serves the greater need of the aspirant youth of the country in materializing their dreams with upgraded level of skill sets that correspond to the rising market potentiality. Nepali youths are facing many problems due to the substandard quality of education provided by most of the education institutions. The focus of education in Nepal is mass-and money-driven, rather than quality - and outcome - driven. Due to serious limitations and lack of focus on the employability of its products, Nepal’s education system is more or less, except for a few exceptions, unable to create hope and happiness across the larger segment of the Nepali society.</div> <div> </div> <div> <span style="font-size: 16px;"><strong>Universities and their focus </strong></span></div> <div> As of today, Nepal has nine different universities (TU, KU, Pokhara, Purbanchal, Sanskrit, Buddhist, Agriculture, Mid Western and Far Western ) providing higher education. Among these, the oldest and the biggest is Tribhuvan University (TU), established in 1959 by the government, is providing higher education to more than 450,000 students.</div> <div> </div> <div> Sanskrit University, established in December 1986, operates from its central office in Dang district. Kathmandu University (KU), established in 1991, is providing higher education to 4,000 students in its own constituent campuses and 7,500 students from its affiliated colleges.</div> <div> </div> <div> Pokhara University, established in 1997 as Nepal's fifth University, has provided higher education to more than 25,000 students through its affiliated campuses. Purbanchal University established in 1993, operates from its head office in Biratnagar. Along with these two regional universities, Mid Western and Far Western Universities provide higher education in their respective development regions. </div> <div> </div> <div> Besides them, the Agriculture and Forestry University (AFU) and the Lumbini Buddha University (LBU) are other two universities established in Nepal.</div> <div> </div> <div> <span style="font-size: 16px;"><strong>Current Scenario</strong></span></div> <div> All these universities claim of having good curriculum structure, academic infrastructure and suitable academic environment. Though most of them claim of contributing their best to higher education in Nepal, in reality the scenario is not exactly the same as stated in their documents. </div> <div> </div> <div> <span style="font-size: 16px;"><strong>Curriculum and focus of Faculties </strong></span></div> <div> Talking about the structure of academic curriculum of these universities, except in few cases, there are plenty of shortcomings. This includes repetition of the same courses at different level of academic programmes. </div> <div> </div> <div> Most courses of many of these universities, developed long back, are still in use without timely adjustment to make them, in line with other foreign universities. Most of the courses, are less market - and need driven and more theory oriented that overweight practical courses. </div> <div> </div> <div> Hotchpotch design of the curriculum that ignore the substance and relevance of the subject matter are some of the apparent weaknesses of the curriculum structure in different Universities in Nepal. </div> <div> </div> <div> However, few of the academic programmes e.g. Institute of Medicine, Institute of Engineering and few of the MBA programmes in the country have been able to blend all the necessary requirement in their curriculum and hence are able to attract and motivate national as well international students.</div> <div> </div> <div> Irresponsible academicians are also huge problems in Nepal. For example, some university professors do not entirely contribute time and energy to their own academic institutions as committed by them and as mentioned in their terms of reference (TOR). This trend has resulted in the creation of many helmet professors, unprofessional consultants and development activists, at the cost of academic professional values. </div> <div> </div> <div> <span style="font-size: 16px;"><strong>Politics in the Universities</strong></span></div> <div> Many academicians forget their own status and keep in frequent touch with political activist and leaders. They think that they would be rewarded by being appointed for attractive academic and non-academic moneymaking and to so called higher ladder positions in different institutions like vice chancellors, registrars, deans, campus chiefs, advisors, ambassador etc. This greed of the academic community has ultimately exploited themselves as they lose their most productive time in unproductive appointments. </div> <div> </div> <div> We all know that all our universities are ultimately governed by the government. Using the power of governance the Prime Minister (Chancellor) appoints senior leaders of the universities (e.g. Vice Chancellors)on the basis of the prospective candidate’s inclination towards a particular political ideology and the volume of financial contribution that the candidate can make to the political party that the Prime Minister belongs to. Ultimately, the nearer and the dearer of the Prime Minister get appointed to the prestigious position of the vice chancellors. If we examine, the history, except in a few cases, most of the university leaders have attempted to make such appointees happy with exhibiting extra loyalty towards them. </div> <div> </div> <div> As a result the rest of the leaders of the universities including the registrar, dean, department head, campus chiefs are appointed on the basis of instructions given by political leaders and government authority. They start polluting the institution by hiring faculties on contract by not announcing vacancy through public notice. These rampant contract appointments are made at different layers of the academia on the basis of personal relations and by ignoring the competent public masses that could have been selected, if the selections were made through competitive process. And these are ultimately given permanent position as well. </div> <div> </div> <div> Consequently prospective and qualified teaching professionals are denied the opportunity to teach while incompetent faculties appointed against the principles of good governance and with sub standard quality, provide sub-standard education and affect entire performance of the university. This practice, rampant and prevalent in every academic institutions and universities in Nepal, has caused continuous loss of confidence on these institutions. </div> <div> </div> <div> <span style="font-size: 16px;"><strong>Influence of Student Unions </strong></span></div> <div> Irresponsible activities of the student unions in most of the universities have also resulted in the delivery of sub standard quality and performance of academic programmes. In most cases student union leaders force innocent students to participate in their political activities. Based on instructions provided by the union leaders, students forgo their regular learning activities, involve in activities of political parties and lose their productive time and resources. Otherwise, they would have devoted that time to build their learning ability and gained skills expected by their prospective employers and thereby build basis to lead their dream life. </div> <div> </div> <div> <span style="font-size: 16px;"><strong>The way forward </strong></span></div> <div> Neither political leaders nor government institutions are responsible, nor the academic communities, teachers and students at large, are honestly eager to maintain and upgrade the integrity of the national academia. We are losing our face in the international academic community. Substandard outcome of these programmes has ultimately resulted into greater un-employability, which has led to anxiety, frustration, and depression among the youth and forced them to migrate abroad for employment in menial jobs. </div> <div> What would be the panacea for the aforesaid problems? The ultimate answer is commitment, dedication, and greater focus on responsibility and accountability, from all stakeholders. This would ultimately refine prevailing degrading professional practices rampant in our education system. We all need to improve ourselves, firstly be removing unwanted greed for money and power and secondly by uplifting our professional competencies and qualities through lifelong learning. Faculties need to focus on training, exposure activities, research and publications that would positively contribute to the overall performance of entire community. Society should play greater role to correct the unwanted behaviour of concerned authorities through constant review of an institution’s performance and activities. Government should build highest level of integrity and morale. Government leaders should be free from the unnecessary greed for power and resources. </div> <div> </div> <div> The crux of the problem is our political system, which needs to be overhauled. All political leaders need to frame their role model behaviour and should attempt to exhibit and practice in real life. They should hesitate to infiltrate pure academic environment with party politics, otherwise they would be entirely held accountable for the degrading academic performance. We can refine the political machinery of the nation, if we all have strong commitment to uplift academic height in line with developed countries. The principle of sacrifice and contribution should be embedded in the performance of both political and academic leaders.</div> <div> </div> <div> <em>(Narayan Prasad Paudel, Ph.D, is Assistant Professor, Kathmandu University School of Management. Email: narayan@kusom.edu.np.)</em></div> </div> <div> </div>', 'published' => true, 'created' => '2014-02-20', 'modified' => '2014-02-20', 'keywords' => 'new business age business education news & articles, business education news & articles from new business age nepal, business education headlines from nepal, current and latest business education news from nepal, economic news from nepal, nepali business education economic news and events, ongoing', 'description' => 'The focus of education in Nepal is mass and money driven, rather than quality and outcome driven.', 'sortorder' => '2482', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '2652', 'article_category_id' => '109', 'title' => 'Technical Analysis Of Nepse', 'sub_title' => '', 'summary' => null, 'content' => '<div class="news_detail"> <p> <strong>Market Trend</strong><br /> Nepse continued its bullish rally last week gaining 19.57 points or 2.44% over the four trading periods. The majority of the gains came from the last two trading days (Tuesday and Thursday) where the market rallied by 18.94 points. The substantial rise in Nepse over the past few trading days has caused it to move past its strong resistance level of 806.82 points indicating a strong bullish scenario for the stock market. Nepse is currently well above its 5-year high with numerous stocks becoming very expensive.<br /> <br /> If political climate remains fairly positive along with good financial results from companies, the market may see further upside in the days to come.<br /> <br /> <strong>RSI</strong><br /> RSI is a form of leading indicator that is believed to be most effective during periods of sideways movement. Such indicators may create numerous buy and sell signals that are useful when the market is not clearly trending upwards or downwards. On February 03, 2014, the RSI indicator settled lower at 51.37. Since then, RSI has been gradually creeping upwards. This has caused RSI to move back into the overbought zone. By the end of the last Thursday, the RSI stood at 73.30 levels.<br /> <br /> <strong>MACD</strong><br /> The MACD indicator, which has been witnessing a declining trend since the third week of January 2014, finally crossed above the signal line on Tuesday.<br /> <br /> When a MACD line crosses above the signal line, it is considered to be a positive sign and indicates a time to buy. The MACD line and Signal line increased from 10.60 and 10.80 points in the previous week to 12.87 and 11.35 points respectively. This suggests that the near term moving average is moving upward with a greater momentum while the longer term moving average is gradually shaping upwards.<br /> <br /> <strong>On Balance Volume (OBV)</strong><br /> OBV is a momentum indicator that relates volume to the current price of index or security. During January 19 to February 13 2014, the OBV indicator formed a resistance level in terms of volume of shares traded. In the past week, the indicator moved past its resistance level signaling a positive.</p> <p> <strong>Market Summary<br /> (16 February to 20, 2014)<br /> Close: 822.67<br /> High: 822.67<br /> Weekly Change: 19.57 points<br /> (2.44%)<br /> Daily Average Turnover:<br /> NPR 278.29 Million<br /> Total Weekly Turnover:<br /> NPR 1.11 Billion<br /> Immediate Support: 806.82<br /> Immediate Resistance:<br /> 847.86<br /> RSI: 73.30<br /> MACD Line: 12.87<br /> Signal Line: 11.35</strong><br /> </p> </div> <p> </p>', 'published' => true, 'created' => '2014-02-23', 'modified' => '2014-02-23', 'keywords' => 'money matters of nepal', 'description' => 'money matters of nepal', 'sortorder' => '2497', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 1 => array( 'Article' => array( 'id' => '2647', 'article_category_id' => '156', 'title' => 'Why Executives Are Getting Older And Older', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong>By Rachel Feintzeig</strong></p> <p> Is your boss a little grayer than you expected? Blame the recession.<br /> <br /> New research from the University of Pennsylvania’s Wharton School and Madrid’s IE Business School has found that the age of executives is on the rise, as is the time spent in their roles—lingering effects of a financial crisis that eroded career growth at the highest levels of the corporate ladder.<br /> <br /> For decades, executives bounced around from company to company, taking ever less time to climb to the top. But that was before the recession hit. In recent years, even top corporate leaders saw their paths stalled, says Peter Cappelli, one of the study’s authors and a Wharton management professor.<br /> <br /> One problem is that the oldest generation of executives delayed their retirement post-2008, prohibiting the next employees in line from taking their seats. When companies did have vacancies, they found it difficult to lure fresh talent from the outside: workers were afraid to make changes amid the economic uncertainty.<br /> <br /> Cappelli and the IE’s Rocio Bonet and Monika Hamori analyzed biographies of the top ten leaders of all FortuneFT.T 0.00% 100 companies dating back to 1980. The first stage of their study analyzed executives through 2001, and a recent update brought the research up to 2011.<br /> <br /> Cappelli predicts executives will start to move around more by 2015, even if the economy isn’t booming by then.<br /> <br /> “People wear out their welcome,” he said, “and even the people who are welcome don’t want to stay any longer.”<br /> <br /> Once a few executives start playing musical chairs, change will be swift and widespread, he added, with the trajectory once again pointing toward “sharply declining tenure” at organizations.<br /> <br /> The study, published in the Harvard Business Review, also found that the corner office has gotten more diverse over the last decade and that there are more female and foreign-born leaders. For example, 18% of the executives studied in 2011 were female, as compared to 11% in 2001 and 0% in 1980. The rate of foreign executives rose from 2% in 1980 to 11% in 2011. But those trends come with caveats.<br /> <br /> Companies with foreign executives in their top ranks are “disproportionately” based on the East and West Coasts, according to the study. Women rise to top jobs fast, according to Cappelli, but they seem to be on a different track than men, most often moving up in the marketing or human resources divisions of their companies rather than the operational side. And not all executive jobs are created equal, Cappelli said. A marketing or human resources executive has little chance of becoming CEO – General Motors’ Mary Barra not included.<br /> <br /> The data also highlights sharp disparities between career trajectories at firms. At some businesses, like Chevron Corp.CVX -1.68% and United Parcel Service of North America Inc., leaders stick around; 90% of the top leaders at those companies have been there their entire career. Other firms see more of a revolving door in the executive suite; Sears Roebuck & Co.’s average 2011 executive had only three years there. The variation between companies has to do with the stability of the company’s product, how quickly their operating model is changing and how their boards react to that change, Cappelli said.<br /> <br /> The variation “does reflect very different notions and … understandings of how you succeed in business,” Cappelli said. “The idea that there was a corporate model really seems to be blown up. Now there’s several corporate models.”</p>', 'published' => true, 'created' => '2014-02-23', 'modified' => '2014-03-03', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Is your boss a little grayer than you expected? Blame the recession. New research from the University of Pennsylvania’s Wharton School and Madrid’s IE Business School has found that the age of executives is on the rise, as is the time spent in their roles—lingering effects of a financial crisis that eroded career growth at the highest levels of the corporate ladder.', 'sortorder' => '2496', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 2 => array( 'Article' => array( 'id' => '2646', 'article_category_id' => '153', 'title' => 'Nepali Tea: Tea from the High Lands', 'sub_title' => '', 'summary' => null, 'content' => '<p> </p> <p> Nepal has a long history of tea cultivation, initiated with the establishment of Ilam Tea Estate in the hills of Ilam district in 1863 and Soktim Tea Estate in the plains. It is believed that tea plantation in Nepal started within the same decade, when it was introduced in the hills of Darjeeling, India.</p> <p> First private sector tea plantation in Terai was established in 1959 under the name of Bhudhakaran Tea Estate. Government joined the sector in 1966 with the establishment of Nepal Tea Development Corporation. After considering the potential for tea farming in the eastern development region, in 1982 five districts of the region i.e. Jhapa, Ilam, Panchthar, Terhathum and Dhankuta were declared ‘Tea Zone’. However now days Tea is also cultivated in few other districts.<br /> <br /> Nepal Tea and Coffee Development Board says that promotional activities to promote Nepali tea in the international market are inadequate even though it is listed as a priority in the Nepal Trade Integration Strategy (NTIS) 2010. This list includes the 19 Nepali products that have export potential. “The government should be more concerned about its promotion in the international market so that it receives better market value and positioning in the international market,” states the board.</p> <p> <img alt="Tea Plantation & Production" src="/userfiles/images/f3%20(Copy).jpg" style="width: 550px; height: 225px; margin-left: 10px; margin-right: 10px;" /></p> <p> The 2011 – 12 statistics states that the tea plantations which covers the area of 18149 hectares of land across the nation annually produces 18.3 million kgs of Tea and provides direct employment to 100 thousand people. Private sector actors in the industry comprise of small farmer as well big corporate houses that have large tea estates with tea processing factories and marketing mechanism.</p> <p> <img alt="Tea Plantation and Production in Nepal" src="/userfiles/images/f1%20(Copy).jpg" style="width: 550px; height: 237px; margin-left: 10px; margin-right: 10px;" /></p> <p> There are 140 registered tea estates and 40 tea processing factories that produce 85 per cent of the nation’s production volume.Some of these factories do not have their own tea estate. They process tea produced by small and medium tea farmers. This type of small holding tea estate farming is anticipated to flourish in the days ahead.</p> <p> <img alt="Orthodox and CTC TEa Plantation" src="/userfiles/images/f2%20(Copy).jpg" style="width: 550px; height: 174px; margin-left: 10px; margin-right: 10px;" /><br /> <span style="font-size:14px;"><strong>Packaging Industry</strong></span><br /> There are two types of tea packaging industries operating in Nepal. First of these are the ones operated large scale tea producers who have their own tea estates and use the facility to package their products exclusively. Another type of factories buy tea products from national and international producers and package it at their own facility.<br /> <br /> <span style="font-size:14px;"><strong>Forecasts</strong></span><br /> Presently Tea plantation is dominated by small holders. Future target is set to extend plantation to 40 thousand hectares with an expected harvest of 46 million kg of tea annually whose worth is estimated to be around 247 million dollars. This will generate employment for 102 thousand people in rural areas and is expected to boost up the rural economy, states the Nepal Tea and Coffee Development Board.<br /> <br /> <span style="font-size:14px;"><strong><img alt="Nepal TEa" src="/userfiles/images/f4%20(Copy).jpg" style="float: right; margin: 0px 0px 0px 10px;width: 100px; height: 110px;" />Branding Efforts</strong></span><br /> National Tea and Coffee Development Board has developed a logo in accordance to the provision of the National Tea Policy 2000 to introduce N e p a l Tea in the domestic and international market and create its niche. Half circle green background embedded by double red circle of this national tea logo indicates the eco-friendly environment of the tea garden; where a tea twig having two leaves and a bud flourish. Along with that the smiling and shining southern face of the Mt. Everest placed in the upper half portion of this logo signifies as the tea produced in the land of Himalayas. Two words “NEPAL TEA” placed within the diameter of the logo circle establish unfailingly as a brand that symbolizes – “A symbol of quality from the top of the world.”</p>', 'published' => true, 'created' => '2014-02-23', 'modified' => '2014-03-03', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'There are 140 Registered Tea Estate which contribute 85 per cent of the National’s production volume. Nepal has 40 Tea processing factories in private sectors.', 'sortorder' => '2495', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 3 => array( 'Article' => array( 'id' => '2645', 'article_category_id' => '91', 'title' => 'Govt Seeks ‘Formula’ To Reduce Trade Deficit', 'sub_title' => '', 'summary' => null, 'content' => '<table cellpadding="0" cellspacing="0" height="18" hspace="0" vspace="0" width="192"> <tbody> <tr> <td align="left"> <p> <strong>By TC Correspondent</strong></p> </td> </tr> </tbody> </table> <div style="clear: both;"> Alarmed by a whopping trade-deficit, the government is all set to form a separate high-level taskforce, which will identify possible solution to reduce the existing trade deficit.</div> <p> The trade imbalance has now become a serious problem as the country’s trade deficit continues widening year on year, said secretary at the Office of the Prime Minister, Krishna Hari Baskota. “The government is serious to increase promotional activities for Nepal’s products in the international market for reducing the<br /> trade deficit.”</p> <p> According to Nepal Rastra Bank (NRB), the nation’s trade deficit with India has reached Rs 190.95 billion, out of the overall trade deficit of Rs 288.76 billion in the first half of the current fiscal year.</p> <p> Trade deficit has a multiple effects since it drains money from the country’s economy, Banskota said, adding that remittance inflow has become crucial in maintaining Balance of Payment (BoP) of the country. It is not good for country’s financial health to rely on remittance inflow forever, he opined. According to the central bank, the country witnessed a total of Rs 266 billion remittance inflow in the first half of the current fiscal year.</p> <p> Coordination among various stakeholders is a must to reduce hassles in trade, he said. The coordination among various stakeholders has not been materialised so far, he informed. It is time that policymakers and businesses made concerted and coordinated attempts to tackle country’s trade imbalances before we are faced with serious crisis, he further said, adding that it is also the right time to address the issue as the country is all set to get a moderate and liberal government led by parties which embrace liberal economy policy.</p> <p> Elaborating further Banskota pointed that the ‘one stop services’ to promote export promotion has been limited to papers. “We need to seriously implement all provisions which the government has introduced with aim of facilitating trade activities,” he said. He blamed the private sector for being hell bent on collecting service charge rather than contributing to trade facilitation. It is not necessary to issue both Generalize System of Preference (GSP) and Certificate of Origin (CO) for the products. But, this hassle has not been removed, as private sector does not want to lower their profit, which they have been collecting while issuing these two certificates, he blamed.</p> <p> <span style="font-size:14px;"><strong>Govt’s Mantra to Reduce Trade Deficit</strong></span></p> <p> • Establishment of herbs collection and processing centres<br /> • Upgradation of labs<br /> • Verification of organic products<br /> • Acquiring collective trademark<br /> • Government’s assistance in acquiring trademarks<br /> • Increased participation in global trade fairs<br /> • Effective implementation of Nepal Trade Integration Strategy 2010</p>', 'published' => true, 'created' => '2014-02-23', 'modified' => '2014-02-24', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Alarmed by a whopping trade-deficit, the government is all set to form a separate high-level taskforce, which will identify possible solution to reduce the existing trade deficit.', 'sortorder' => '2494', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 4 => array( 'Article' => array( 'id' => '2590', 'article_category_id' => '91', 'title' => 'Nepal-India Trade Expo In Birgunj', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By TC Correspondent </strong></div> <div> </div> <div> A ten-day Nepal-India Trade Expo 2014 kicked off in Birgunj last Thursday (February 13). Indian ambassador to Nepal Rajit Rae inaugurated the expo amid a function organized at Aadarshanagar stadium in Birgunj. </div> <div> </div> <div> Ambassador Rae underlined the need for infrastructure development to attract more foreign investment to Nepal. </div> <div> </div> <div> “Nepal needs to implement investment friendly policies,” he suggested. He informed that Indian government has planned to expand railway facility in five bordering districts in Nepal. The railway link is expected to facilitate trade between the two countries, he added. The process of establishing Integrated Check Posts (ICPs) at three major customs points along the Nepal-India border has also started, he said.</div> <div> </div> <div> He urged Nepali private sector and the government to take Indian investors into confidence as there is high potential of Indian investment in Nepal. He emphasized on the bilateral cooperation for mutual benefit. </div> <div> </div> <div> Nepal should increase the volume of export to India to reduce the existing trade deficit with India, he suggested. “Nepal can export hydroelectricity to India which will help reduce the trade deficit.”</div> <div> </div> <div> The Birgunj Chamber of Commerce and Industry in association with Minds Nepal has organized the expo that is aimed at increasing international trade particularly with India and the SAARC countries. The 10-day exhibition has been displaying a wide range of products from Nepal, India and the SAARC region, the organizer said. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Nepal-India Border Summit </strong></span></div> <div> Nepal-India border summit concluded on Saturday (February 15) issuing a 15-point “Birgunj Declaration 2070”. Birgunj Chamber of Commerce and Industry had organized the summit with participation of parliamentarians from bordering districts. In the programme, six parliamentarians from Bara and Parsa districts of and two parliamentarians from India participated. </div> <div> </div> <table align="center" width="100"> <tbody> <tr> <td> <img alt="" src="/userfiles/images/1%20(Copy)(4).jpg" style="border-width: 0px; border-style: solid; width: 550px; height: 354px;" /></td> </tr> <tr> <td bgcolor="#DDDDDD"> <div align="center"> <div style="text-align: center;"> <strong>BiCCI’s immediate past president Ashok Temani (second from right) helping Indian Ambassador Ranjit Rae to unwrap the Greater Nepal CD for launching while FNCCI president Suraj Vaidhya (far left) looks on</strong></div> </div> </td> </tr> </tbody> </table> <div> </div> <table align="center" width="100"> <tbody> <tr> <td> <img alt="Crowd at the readymade garment stall." src="/userfiles/images/2%20(Copy)(4).jpg" style="border-width: 0px; border-style: solid; width: 550px; height: 354px;" /></td> </tr> <tr> <td bgcolor="#DDDDDD"> <div align="center"> <div style="text-align: center;"> <strong>Crowd at the readymade garment stall.</strong></div> </div> </td> </tr> </tbody> </table> <div> </div> <table align="center" width="100"> <tbody> <tr> <td> <img alt="BiCCI president Ashok Vaidhya " src="/userfiles/images/3%20(Copy)(4).jpg" style="border-width: 0px; border-style: solid; width: 550px; height: 179px;" /></td> </tr> <tr> <td bgcolor="#DDDDDD"> <div align="center"> <div style="text-align: center;"> <strong>BiCCI president Ashok Vaidhya (4th from the right) with participants of Nepal - India Border Summit</strong></div> </div> </td> </tr> </tbody> </table> <div> </div> <table align="center" width="100"> <tbody> <tr> <td> <img alt="Crowd at the electric equipment stall." src="/userfiles/images/4%20(Copy)(3).jpg" style="border-width: 0px; border-style: solid; width: 550px; height: 339px;" /></td> </tr> <tr> <td bgcolor="#DDDDDD"> <div align="center"> <div style="text-align: center;"> <strong>Crowd at the electric equipment stall.</strong></div> </div> </td> </tr> </tbody> </table> <div> </div>', 'published' => true, 'created' => '2014-02-17', 'modified' => '2014-02-23', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'A ten-day Nepal-India Trade Expo 2014 kicked off in Birgunj last Thursday (February 13). Indian ambassador to Nepal Rajit Rae inaugurated the expo amid a function organized at Aadarshanagar stadium in Birgunj.', 'sortorder' => '2493', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 5 => array( 'Article' => array( 'id' => '2639', 'article_category_id' => '211', 'title' => 'Shreenagar Agro Farm', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> </div> <div> <strong>--By Pinaki Roy</strong></div> <div> </div> <table align="right" style="margin: 0px 0px 0px 10px;" width="25"> <tbody> <tr> <td> <img alt="Satish Shrestha, MD, SAF" src="/userfiles/images/ss1%20(Copy)(1).jpg" style="border-width: 0px; border-style: solid; width: 200px; height: 183px;" /></td> </tr> <tr> <td bgcolor="#FFFFFF"> <div align="center"> <strong>Satish Shrestha</strong>, MD, SAF</div> </td> </tr> </tbody> </table> <div> An initial investment of Rs 1 million made in 2001 was the first step towards making Shreenagar Agro Farm (SAF) Pvt Ltd the big name it is – a company with an estimated current net worth between Rs 500–600 million. Satish Shrestha, the Managing Director of SAF, entered the livestock business in 2001 while still working with the Citibank. A BCom graduate from the prestigious Sydenham College of Commerce and Economics in then Bombay, he worked as Relationship Manager at the Kathmandu office of Citibank from 1997 to 2002. </div> <div> </div> <div> Gems Poultry, an integrated farm spread over 15 ropanis of land in Gongabu, Kathmandu was looking for a partner. Shrestha took the opportunity to become a partner in the farm that comprised of a fish pond, a small feed making facility and a commercial broiler unit. </div> <div> </div> <div> <span style="font-size: 16px;"><strong>Decision Time</strong></span></div> <div> In 2002, Citibank decided to close down its office in Kathmandu and offered Shrestha a job at its office in Bangalore, India. While he was still pondering over the chance to relocate, his partner at Gems Poultry offered him to take over the company entirely. It got him thinking but eventually he decided to stay back and buy out the company. He paid the agreed amount over a period of three years and also renamed the enterprise as Gems Agro Livestock Industries Pvt Ltd. Having dabbled the banking job and the livestock business simultaneously for a year and taking over the company in full later helped Shrestha launch his flagship company – Shreenagar Agro Farm – in due course of time.</div> <div> </div> <div> <span style="font-size: 16px;"><strong>The Company</strong></span></div> <div> Shreenagar Group comprises of three companies – Shreenagar Agro Farm Pvt Ltd, Sunaulo Agro Farm Pvt Ltd, and Gems Agro Livestock Industries Pvt Ltd. These companies have emerged as an agri-business conglomerate with activities ranging in Poultry Breeder Farming for broiler and layer, Hatchery for production of broiler and layer day-old-chicks, Feed Mill for production of mash and pellet feed for poultry & other livestock and Commercial Farming of broiler and layer as well as distribution of table eggs (regular and branded). </div> <div> </div> <div> SAF moved business to Butwal in 2006-07 due to space constraint in the capital, a result of massive urbanization, which was hindering the expansion of his industry. The company stands out due to its technological advancement, research, continuous investment, professionalism and adequate exposure when compared to its contemporaries in the domestic market. It employs 150 people at all its facilities put together.</div> <div> </div> <div> </div> <table align="center" width="100"> <tbody> <tr> <td> <img alt="Feed Mill of Shreenagar Agro Farm" src="/userfiles/images/ss2%20(Copy)(1).jpg" style="border-width: 0px; border-style: solid; width: 550px; height: 368px;" /></td> </tr> <tr> <td bgcolor="#DDDDDD"> <div align="center"> Feed Mill of Shreenagar Agro Farm</div> </td> </tr> </tbody> </table> <div> </div> <div> <span style="font-size: 16px;"><strong>Learning Curve</strong></span></div> <div> Shrestha makes regular visits to India for observing development in similar business areas. “I also visit Thailand often which is the heart of agri-business sector in this region,” he says. He also travels to Holland at regular intervals to update himself with technological advancements in the sector. He adds, “What has become obsolete in regions such as Europe is coming to our part of the world now.”While certain learnings are implemented immediately, some others are considered over a longer period of time, he says.</div> <div> </div> <div> Exposure to successful agri-business outlets abroad has taught the company to focus on bio security. It has ensured distance between its poultry units, cleaner environment, maintenance of hygiene protocols etc. Another important aspect is the placement of its various farms. For example, the growing flock is based in Butwal while the production flock is at Palpa. </div> <div> </div> <div> <span style="font-size: 16px;"><strong><img alt="golden Egg" src="/userfiles/images/ss3%20(Copy)(2).jpg" style="float: right; margin: 0px 0px 0px 10px; width: 160px; height: 197px;" />Golden Egg</strong></span></div> <div> Shrestha always knew there was a market for branded eggs in the country. “A cooking experience at my home kitchen sparked the idea of dating eggs to ensure fresh product for the consumers,” he informs. Around mid-2012, SAF launched ‘Golden Egg’ in containers that also mentioned the timeframe within which the eggs were required to be consumed. </div> <div> </div> <div> Golden Egg started with sales of 1,000 eggs per day which increased to 40,000 eggs per day in about a year-and-a-half’s time period. The company has now set a target to reach sales of 100,000 eggs per day by the end of 2014. Currently, Golden Egg is available in packs of 6, 12 and 30 eggs. The Golden Egg containers have the ‘best before’ dates on their covers and are sold via hundreds of retail outlets. </div> <div> </div> <div> <span style="font-size: 16px;"><strong>Sales Strategy</strong></span></div> <div> Having priced Golden Egg at a premium, SAF targeted consumers who were more likely to be quality conscious. Hence, the brand was introduced in department stores and various marts to begin with. The company is currently awaiting the results of a research on consumption trend of Golden Egg following which it will be selling branded eggs individually. The egg shells will be individually marked with Golden Egg stamp and available at the convenience stores and “kiraana pasals” as well. </div> <div> </div> <div> “Sourcing eggs from local farmers in various locations besides our own farm has multiple advantages,” says Shrestha. He adds that while the idea provides business opportunities to the farmers, it also saves him the expenses of opening and maintaining farms. SAF continues to get its supply of products from alternate locations even at times when a certain part of the country witnesses a problem. The company imparts trainings to enable farmers run their respective farms efficiently and adhere to quality standards set by the company.</div> <div> </div> <div> <span style="font-size: 16px;"><strong>Looking Ahead</strong></span></div> <div> Among its future plans, the company is continuously looking at integration efforts, reveals Shrestha. He hopes to reach fresh stores and ensure greater presence in retail over the next couple of years while also mulling over adding slaughtering and processing aspects of the livestock business. </div> <div> </div> <div> “We are also exploring the idea of launching retail outlets tentatively named Golden Fresh Mart which will have four components: poultry & meat products (includes eggs), dairy production, bakery products, and vegetables & fruits,” Shrestha says. He elaborates that the idea is to provide end consumers with an array of products under the same roof. He quickly adds though that it all depends on having like-minded partners who already hold an edge in their respective business segments. </div> <div> </div> <div> Shrestha always dreamt of running a volume based industry in a conventional manner and being able to make a difference. Success has come along the journey, he says and advises aspiring entrepreneurs to keep on striving and continue in believing one’s instincts.</div>', 'published' => true, 'created' => '2014-02-20', 'modified' => '2014-02-23', 'keywords' => 'new business age success story news & articles, success story news & articles from new business age nepal, success story headlines from nepal, current and latest success story news from nepal, economic news from nepal, nepali success story economic news and events, ongoing success story news of n', 'description' => 'Caught between a plum banking job and entrepreneurship, Satish Shrestha chose the latter. A little over a dozen years later, he has not looked back and is a successful businessman in the making. Notwithstanding all the hardships that he courted along the way, he is glad to have pursued his instincts and believed in his dreams.', 'sortorder' => '2492', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 6 => array( 'Article' => array( 'id' => '2588', 'article_category_id' => '169', 'title' => 'Handling People Why Employees Leave Organization?', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <div> <div> Every organization deals with employee turnover. It struggles to fill vacancy even when no new positions are created. People get offers from prestigious companies with better infrastructure, great salary, fair policies, good perks and excellent training opportunity; But instead of building career and settling for a longer period, some of them walk out within a year or two. But there is a pattern of people leaving. Gallup conducted a survey amongst a large population and came back with similar findings. Any organization, losing good people, should look at the Managers handling them. People join an organization but leave their bosses. </div> <div> </div> <div> Good superior is the reason why people stay and flourish in a company and a bad one can cause catastrophe with high turnover. When people cannot retort openly in anger, they do so by passive aggression, by digging their heels in and slowing down, by doing only what they are told to do without any added initiative, by omitting to give crucial information. If somebody is working for a person without any respect, then the soul is absent in the job. Finally, some instances of lack of empathy or downright rudeness and humiliation will compel them to go. Research suggests that employees find humiliation most intolerable. First time, a thought would have been planted. Second time, resolve gets strengthened. Third time, searches begin actively. </div> <div> </div> <div> Different managers can stress out employees in different ways - by being too controlling, too suspicious, too pushy, too critical or even too hands off. But they forget that people are not fixed assets, they are free agents. When this goes on for too long, an employee will quit, often over a trivial issue. </div> <div> </div> <div> In any decently sized organization, normally a pattern of bell curve exists with top 10% people performs outstandingly well and bottom 10% poorly. Organization may not suffer if bottom 10% goes. But the deadwoods mostly stay back and talents move. With that, years of knowledge and experience departs as well, sometimes straight to competition. Some Company handles this by weeding out bottom 10% and rewarding others handsomely. But, while doing so, they cast a pall of fear over their employees and destroy morale and innovative thinking. Some does not believe in firing and to manage, they reduce gap between top and bottom. This demotivates the top performer but does not improve the bottom either. </div> <div> </div> <div> So what should an organization do to prevent high attrition? To start with, a study can be initiated to understand the turnover pattern. Is it pointing out towards any department, grade, age group or manager? Then an employee satisfaction survey can be conducted to understand whether the employees are motivated or not and if not then what are the reasons? Slicing through profile is needed when the survey results are analyzed. A lot can be learned through simple questions like whether the employee has any friend in office or not, whether his boss shares organization goal and vision or not. Based on that, certain action agenda can be decided. </div> <div> </div> <div> It is important to make certain that every Job Profile is thoroughly laid out. I must know what I am supposed to do, what is the organization expects from me? I have seen cases where people react badly when they feel that what is expected from them were never clearly informed beforehand. They felt they were treated unfairly.</div> <div> </div> <div> Whether people are taking ownership of their team members or not is a critical factor. When the Boss very dispassionately disowns the blunder caused by his team and put the blame squarely on somebody’s shoulder, if one is not sure that his boss will stand by him in his hour of crisis then he will never stick his neck out. </div> <div> </div> <div> Organizations must balance their reward and punishment system. Even though the punishment should not mean that bottom 10% will lose their job but the reward for the top 10% should be sufficiently higher than others. People at all levels have to be suitably empowered to ensure ownership. To empower, one must analyze set of jobs each person is doing and what can be delegated down. The person to whom the job would be delegated can be identified by carrying out a SWOT analysis for each of the probable candidates. While doing so, we need to remember that each person has certain strength and if those strengths are played upon instead of harping on the improvement on weaknesses, the result can be positive and manifold. Post this, the person, identified for empowerment can be coached and trained to handle the extra work. He has to take responsibility and he would be held accountable. But, if he gets credit for successful execution and also possesses authority to tweak the system to achieve more, he will put in real good effort to excel. </div> <div> </div> <div> In a nutshell, there are certain steps any organization should take to handle attrition. </div> <div> 1.<span class="Apple-tab-span" style="white-space: pre;"> </span>Study turnover pattern – look for some weak areas which needs immediate attention </div> <div> 2.<span class="Apple-tab-span" style="white-space: pre;"> </span>Conduct internal survey to gauge employee satisfaction – create and implement action areas based on that </div> <div> 3.<span class="Apple-tab-span" style="white-space: pre;"> </span>Ensure appropriate job descriptions across all levels are created and informed to both employee and his superior without any ambiguity.</div> <div> 4.<span class="Apple-tab-span" style="white-space: pre;"> </span>Implement appropriate evaluation system and evaluation are to be done fairly and transparently. Employee ratings have to be properly informed to him</div> <div> 5.<span class="Apple-tab-span" style="white-space: pre;"> </span>Analyze training requirements and ensure people receive training as per their need </div> <div> 6.<span class="Apple-tab-span" style="white-space: pre;"> </span>Make sure people at all levels are suitably empowered and all required resources are provided to them to carry out their job</div> <div> 7.<span class="Apple-tab-span" style="white-space: pre;"> </span>Last – but most important – create a culture of Care and Nurture and ensure managers handling teams are tuned to this culture. They are the key to build teams. Every team leader must be taught the following; “No matter what, I will always treat all my team members the way I would like myself to be treated by my superior”</div> <div> </div> <div> But this culture takes years to build up. Management has to consciously practice this to achieve the intended goal. Employee is an important aspect of any organization that can either turn into an asset by delivering value or into a liability by becoming a burden. It is the responsibility of the organization to ensure that employees are groomed and properly utilized. For that, appropriate training must be given to managers who handle teams. They are to be trained to seek opportunity to show that they care for their team. A culture of care and empathy can be real game changer. As John wooden said – we must seek opportunity to show we care, the smallest gesture can make the biggest differences. </div> <div> </div> <div> <img alt="Buddha's Delight" src="/userfiles/images/bd1%20(Copy)(2).jpg" style="width: 550px; height: 299px; margin-left: 10px; margin-right: 10px;" /></div> </div> </div> <div> </div>', 'published' => true, 'created' => '2014-02-13', 'modified' => '2014-02-21', 'keywords' => 'new business age buddha’s delight news & articles, buddha’s delight news & articles from new business age nepal, buddha’s delight headlines from nepal, current and latest buddha’s delight news from nepal, economic news from nepal, nepali buddha’s delight economic news and events, ongoing buddha’s', 'description' => 'Different managers can stress out employees in different ways - by being too controlling, too suspicious, too pushy, too critical or even too hands off.', 'sortorder' => '2491', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 7 => array( 'Article' => array( 'id' => '2591', 'article_category_id' => '137', 'title' => 'Nepal Among Top 20 Fragile LDC ODA Recipients', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Sanjeev Sharma</strong></div> <div> </div> <div> Nepal is among the world’s top 20 fragile countries to receive official development assistance (ODA) from multilateral and bilateral donors, according to a new OECD report. The report entitled ‘Fragile States 2014: Domestic Revenue Mobilisation’ informs that Nepal received USD 892 million in ODA in 2011. The report prepared by OECD’s Development Assistance Committee (DAC) totalled the country’s net ODA atUSD 8.17 billion from 2000-2011. ODA per capita in Nepal was recorded at USD 29 in 2011.</div> <div> </div> <div> The report has characterised 51 countries (both LDCs and non-LDCs) as the fragile states that are unable to meet their population’s expectations or manage changes in expectations and capacity through the political process. According to OECD, ODA to fragile states declined to USD 53.40 billion in 2011 from record high of USD 67.35 billion in 2005. “Aid has declined by 2.4 per cent in 2011 and will continue its downward trend,” says the report.”Meanwhile, the share of the world’s poor found in fragile states is set to rise to a half by 2018.”</div> <div> </div> <div> These countries saw a total inflow of ODA at USD 547.19 billion from 2000-2011. Among 51 countries, Afghanistan was the highest recipient, receiving net ODA of USD 45.43 billion from 2000-2011. The war-ravaged country saw significant increase in foreign financial and technical assistance after the fall of Taliban regime in 2001. Pakistan also received note worthy amount of ODA over the last decade with USD 28.51 billion being allocated to it. Bangladesh and Sri Lanka, meanwhile, acknowledged net ODA of USD 19.76 billion and USD 9.02 billion respectively. OECD listed Afghanistan, Democratic Republic of Congo, Ethiopia, Pakistan and Kenya as the top five fragile ODA recipients in 2011. Similarly, the global economic body noted United States, European Union, International Development Association (IDA), United Kingdom and Japan as the top five ODA providers to fragile states in 2011. </div> <div> </div> <div> The report informed that Nepal received a net country programmable aid (CPA) of USD 10.25 billion from 2000-2013. Similarly, OECD’s outlook projected that the country will receive USD 3.08 billion in CPA during 2014-2016. However, aid inflow in Nepal is seen fluctuating as the country witnessed a 5 per cent decline in CPA in 2010-2011. In 2008-2009 Nepal observed a sharp rise in CPA by 32 per cent followed by a 1 per cent increase in 2009-2010.</div> <div> </div> <div> <span style="font-size:16px;"><strong>“Donors doing too little to strengthen domestic revenues in fragile states”</strong></span></div> <div> The report warns international donors that they are not doing enough to help fragile states increase their domestic revenue stating that only a tiny fraction of development aid goes into programmes aimed at improving tax collection. The report finds that just 0.07 per cent of ODA to fragile states is directed towards building accountable tax systems. “Donors pledged as far back as 2002 to make it a priority to help poor countries mobilise more domestic revenues. Yet fragile states still collect less than 14 per cent of their gross domestic product (GDP) in taxes on average, well below the 20 per cent level considered necessary to meet poverty goals,” states the report. </div> <div> </div> <div> According to the report, Afghanistan has received by far the most support in this area, notably from the International Development Association (IDA) for trade facilitation and from the US for public financial management. Haiti and Nepal remained next in line to receive this aid. “Haiti mainly benefitted from US technical assistancefor public financial management, while Korean aid inNepal helped modernise the customs system, and Germany and Denmark supported its revenue and tax administration,” says the report. </div>', 'published' => true, 'created' => '2014-02-17', 'modified' => '2014-02-21', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Nepal is among the world’s top 20 fragile countries to receive official development assistance (ODA) from multilateral and bilateral donors, according to a new OECD report. The report entitled ‘Fragile States 2014: Domestic Revenue Mobilisation’ informs that Nepal received USD 892 million in ODA in 2011.', 'sortorder' => '2490', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 8 => array( 'Article' => array( 'id' => '2617', 'article_category_id' => '201', 'title' => 'Prabal Gurung Takes Mustang To New York', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> It was a homecoming of sorts for designer Prabal Gurung, who drew inspiration from his homeland of Nepal for his fall 2014 collection that was presented Saturday during New York Fashion Week.</div> <div> </div> <div> Specifically, he was inspired by the remote Mustang region, where aspects of the local culture have remained unchanged since the 15th century. </div> <div> </div> <div> Prabal Gurung unveiled his fall/winter 2014 season in the cavernous recesses of New York’s Moynihan Station, watched by a packed house led by style queen Anna Wintour.</div> <div> </div> <div> Gurung, who formed his label in February 2009 after studying in India and New York, has dressed some of the world’s most famous women. He was born on March 31, 1979 in Singapore to Nepali parents and raised in Kathmandu. According to Gurung his new collection was a glimpse of his home.</div> <div> </div> <div> “I wanted to share with the rest of the world a little piece of me. It’s our fifth year now and, you know, show the world a glimpse of where I’m from,” he said. Effervescent and charming, dressed in jeans and a white T-shirt, the 34-year-old was delighted to show off a notice board backstage covered with pictures from his homeland. He travels back to Nepal once a year and loves to trek in the Himalayas, often just with a porter for company to recharge his batteries from the chaos of the jet-set life. </div> <div> </div> <div> Back in New York from such recent trip, he got further inspiration from oil paintings of friend British artist Cecily Brown, whose prints he also pointed out on the notice board. His show featured pashmina and anklets from Nepal, which were made in Italy, embroidered feathers from India, chiffon from Paris and sunglasses from London.</div>', 'published' => true, 'created' => '2014-02-18', 'modified' => '2014-02-23', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Award-winning designer Prabal Gurung unveiled his fall/winter 2014 season NY Fashion Week.', 'sortorder' => '2489', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 9 => array( 'Article' => array( 'id' => '2638', 'article_category_id' => '31', 'title' => 'In The Long Run, Ethics Pays', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <span style="font-size: 16px;"><strong>Prof C Panduranga Bhatta</strong> is a Professor of Business Ethics and Communication Group and Coordinator of Management Centre for Human Values at the Indian Institute of Management Calcutta (IIMC). He has been continuously involved in academic administration of the IIMC since 1999 and is the founder coordinator of Business Ethics and Communication Group. He was recently in Kathmandu for a conference on World Forum for Ethics in Business (WFEB). In an interview with New Business Age’s <strong>Angila Sharma</strong>, he discussed core principles of business ethics and its relevance in the present context. <strong>Excerpts:</strong></span></div> <div> </div> <div> <span style="font-size: 14px;"><strong>Generally business ethics and CSR are treated as synonymous. How to distinguish them?</strong></span></div> <div> Before the introduction of the term Corporate Social Responsibility (CSR), business ethics’ definition was limited to not doing corruption in business and was particularly limited to financial matters. But now, business ethics is defined and understood in a broader way and includes Corporate Social Responsibility also.So, I would like to say that CSR is one of the aspects of business ethics. As such, the business houses that are active in their CSR can be called ethical because they have realized that they have a duty to perform. </div> <div> </div> <div> Earlier, business houses would conduct business in an ethical manner but would not be concerned with things going around them. But, now, business houses cannot only be ethical in their business. They have to be aware about the things happening around them. The business houses should be concerned with the society because they make profit because of the ordinary people around them. So, CSR is a part of business ethics.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>The popular view including that of the government is that business ethics and profit making cannot go hand in hand. What is your opinion on this? </strong></span></div> <div> This is the biggest mistake people are making. We can take examples of corporations in the international arena that are making profit ethically. Ethics means taking care of the safety of the products; it means you don’t do any wrong to the customers through your products. Business ethics means that corporations allocate certain amount of their profit for the betterment of the people. So, the corporations, which are conducting business in an ethical manner, also earn profit.</div> <div> </div> <div> This issue can be looked upon in two ways. It depends on the business corporation whether it is looking at the short term or long term while starting a business.Short-term business means operating for a small period of time, earning profit in any manner and then shifting to a new place. We describe these kinds of businesses as ‘fly by night operators’. This type of activity is completely unethical and we do not consider these types of activities as business. We are talking about business corporations that are established to operate for a long period of time.Such business corporations do not limit themselves to stopping fraud and other corrupt activities, but widen their view to the entire society. Thus, in the long run, such business houses survive, make profit and they are considered as ethical business firms. In the long run, ethics pays.</div> <div> </div> <div> So, I don’t agree that business firms, which make profit, cannot be ethical.</div> <div> </div> <div> <span style="font-size: 16px;"><strong>In today’s competitive world, how can business houses gain comparative advantage through practicing business ethics?</strong></span></div> <div> Globalization can give you advantage as well as disadvantage. Firstly, if you are an ethical company, you will be welcomed everywhere. This is because of the reputation of the business house and reputation is built on ethics.If a business house has global ambition and wants comparative advantage, the business house has to build a brand first. Business houses have to take care of ethics firstly. For example: Infosys is a company that is present throughout the world. It is recognized and accepted everywhere because they have taken ethics as their main priority. They have a motto that says ‘Powered by Intellect; Driven by values’. They have been practicing it and people have been watching their loyalty towards their motto. If people are convinced, they will accept the company. This way the business houses can gain comparative advantage. Their ethics provide them the comparative advantage.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>What innovative methods are being practiced or developed to instil human values in the management of business organizations?</strong></span></div> <div> Human Values is a very comprehensive term. It includes the behaviour of the business houses towards its customers, employees, community and the environment. The business house has to be concerned about the environment and the community while practicing business. If the business house is not eco-friendly, it can affecthuman life and thus the business house is considered of not practicing human values.</div> <div> </div> <div> Business houses can instil human values in their practice through the development of caring attitude.Any business houses should consider human beings as their first priority. As a businessperson, relationship matters a lot. If business houses fail to maintain good relationship with the employees, customers and the community, it will fail. This way business houses can work for their betterment through respecting human values.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>How do you see the situation of business in South Asia?</strong></span></div> <div> The situation is picking up now because of globalization. People are exposed to the activities of business houses. Earlier, the situation was such that business houses would carry out their work in an unethical manner and to cover it up, they would do some charity and give donations. But, now, how any corporation makes business is noticed and reported. This is coming from the globalised context.</div> <div> </div> <div> Another thing that is improving the situation is the international ranking. Every business house wants to participate in the international ranking. For example: Transparency International ranking.The moment you perform corrupt activities or you compromise with the safety of the employees and customers, you are ranked in the top of the most corrupt company and the country. Earlier, companies were not concerned with the country’s image, but now, companies are tied up with the country. If the country does not have good image, nobody would want to do business in that country. Countries are the conglomerates of certain companies. So, the business houses are concerned with ethical issues because of the international ranking. This has helped in improving the situation of business ethics in South Asia and the rest of the world.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>What do you think makes an excellent leader?</strong></span></div> <div> There are so many aspects by which a person can become an excellent leader. Firstly, the person has to be sensitive towards the community and the people. Secondly, the person has to be creative and has to have a vision. The means and methods of achieving the vision is what matters the most. Any leader to be successful in the present context should have these qualities. Above all, it is very important that the leader is ethical because people will be watching the behaviour of the leader.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Marketing profession is derided as an example of unethical business practice. What is your suggestion to this professional field for overcoming this challenge?</strong></span></div> <div> In marketing, what matters the most is the product. Communication becomes very important while marketing. If you are giving false information to the consumers while selling the product, then, you lose reputation. What you are marketing and how you are marketing is very important. If you are advertising your product by giving false information, then that is a problem. If you are marketing a product that does no harm to the consumers, then it is not unethical.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>There is a school of thinkers who believe that ethics can’t be taught. How do you respond to this assertion?</strong></span></div> <div> This is nothing more than a myth. Teaching ethics directly to the students may not go well with the students. So, teaching business ethics should take another form. Rather, sensitizing people towards unethical acts can do no good. Teaching ethics in a direct way will be of little or no use. If ethics is incorporated in all the departments and activities, it can be useful. Awareness has to be created among people regarding ethics.</div>', 'published' => true, 'created' => '2014-02-20', 'modified' => '2014-02-21', 'keywords' => 'new business age business visitors news & articles, business visitors news & articles from new business age nepal, business visitors headlines from nepal, current and latest business visitors news from nepal, economic news from nepal, nepali business visitors economic news and events, ongoing busin', 'description' => 'Prof C Panduranga Bhatta is a Professor of Business Ethics and Communication Group and Coordinator of Management Centre for Human Values at the Indian Institute of Management Calcutta (IIMC). He has been continuously involved in academic administration of the IIMC since 1999 and is the founder coordinator of Business Ethics and Communication Group', 'sortorder' => '2488', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 10 => array( 'Article' => array( 'id' => '2644', 'article_category_id' => '170', 'title' => 'Evolve Or Ease Out Non-performing Employees', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong>--By Purna Man Shakya</strong></div> <div> </div> <div> A study shows that 60 per cent of a workforce includes average workers based on a 20-60-20-percent rule. Half of the remaining 40 per cent consists of top performers, and the other half includes poor performers. The poor performers can cause the most harm if employers don’t address their productivity problems. Employees who get away with underperforming create laziness in the workplace that hampers the productivity of others. So, in order not to retain non-performing employees three major steps should be taken.</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>Identify performers from the non-performers</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>Explore reasons of non-performance</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>Corrective actions and administering formal discipline</div> <div> </div> <div> <span style="font-size: 16px;"><strong>Identify performers from the non-performers</strong></span></div> <div> Generally saying performers make positive contributions in the achievement of both team and organizational goals and non-performers hardly make such contributions. So, identification of performers is the major strategic step towards non-retaining non-performing employees. Performers normally exhibit following behaviours: </div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>They are efficient in terms of communication, workloads handling, change management, managing personal and professional developments.</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>They prefer to work closely with co-workers and exhibit inspirational leadership. </div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>They are good at planning their own futures and also use the work they do with the employers to help them grow their ambitions. They are often mentors and trainers in the workplace because they thrive on helping others improve their productivity. They can determine what they must accomplish, set goals and organize themselves to achieve these goals efficiently. They also actively try to improve their performance, which means they actively find resources they need. It also means they tend to learn from their own mistakes. Usually they are better at self-direction.</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>They recognize that they are their own bosses and the employer is a consumer. </div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>They are fearless when it comes to doing what it takes to succeed. </div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>Performers also generate many of a company’s new ideas because they tend to look for ways to improve procedures to maximize their own productivity. </div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>They adhere to policies, procedures, and regulations </div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>They also participate in meetings and other activities for the meaningful outputs.</div> <div> </div> <div> Failing to comply with the above behaviours will qualify a person to be a non-performer.</div> <div> </div> <div> <span style="font-size: 16px;"><strong>Explore reasons of non-performance</strong></span></div> <div> Secondly we should explore reasons of non-performance. Reasons of non-performance can be discussed under four dimensions:</div> <div> </div> <div> <span style="font-size: 14px;"><strong>a. Employee</strong></span></div> <div> The employee may:</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>Lack requisite technical skills, public relation skills, and work ethics.</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>May be an acceptable performer but is unhappy and wants a different position.</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>Have an undisclosed learning disability or medical condition affecting performance</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>Have problems with authority: rejects idea that someone will judge their work</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>Have mental health challenges: depression, personality disorder, post-traumatic stress disorders, etc.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>b. Poor employee grooming by supervisor</strong></span></div> <div> Sometimes supervisors also contribute in grooming poor employees. An employee has the capacity to perform at a higher level but is not been given initial tools and direction to create an opportunity for success. The employees have different assumptions, about what is considered good performance by the supervisor. This situation is often created when supervisor fails to meet regularly with the employees. The supervisor is called as a poor communicator when an employee does not understand relative priorities of various tasks, does not know company policies or procedures and also does not understand what supervisor likes, wants or dislikes.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>c. Job</strong></span></div> <div> Sometimes the person is capable and knows what to do but the volume is just too high for one person to handle. Another issue is whether the employee has enough information and tools to complete their work in an optimum fashion or not. When unrelated or obviously different tasks are thrown together, it may be difficult to find the unique individual who is good at all of them. An example would be a position that requires high-level people relational skills and high-level scientific skills. Sometimes poor job design also contributes towards non-performance. Some of the potential job design issues are:</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>Job volume is based on extremely high performer and person is new</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>Job contains too many unrelated accountabilities</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>Quality standards are impossible to meet</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>The job qualifications used in recruitment don’t actually match what is required for the position.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>d. Workplace atmosphere</strong></span></div> <div> Most of us have experienced a toxic workplace environment in which good employees are so distracted by stress and drama that they cannot properly attend to job performance. Here are potential environmental issues that might be a source of non-performance.</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>The workplace atmosphere is excessively negative with toxic co-workers, bosses and power struggles. </div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>A powerful informal leader controlling activities.</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>Good people aren’t consistently praised/rewarded and so become disinterested.</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>Negative conduct is not redirected so that co-workers are stressed by co-worker’s abusive behaviour.</div> <div> </div> <div> <span style="font-size: 16px;"><strong>Corrective actions and administering formal discipline</strong></span></div> <div> Dealing with a non-performing staff member is one of the most difficult tasks one faces as a manager. Before taking actions all the options should be considered carefully. Formal discipline is one option, but this can be awkward and disruptive to the team, and may have legal implications. Formal discipline should be used only as a last resort tool when all else has failed. As per Labour Law of Nepal employees cannot be terminated on performance ground but can be terminated on the ground of misconduct. But due to employee union’s influence it is being hard to terminate employees even on misconduct ground. So, formal disciplinary action, such as formal warnings, suspension or termination should be exercised only when all other options are exhausted. If an organization does everything in its power to help a non-performing employee and still remains unsuccessful, it may have to resort to formal discipline. Four less-severe strategies are explained below. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>a. Counsel to correct poor behaviour or performance.</strong></span></div> <div> Counselling is a pre-planned informal discussion with a team member. The goal is to raise awareness that a problem exists and correct behaviour. During a counselling meeting, problem should be clearly stated; employee should be asked for his/her thoughts about the situation. There should be clarity on both sides on “what needs to be done differently now onwards along with clarity on action plan”. The counselling should end up with encouragement and should set up follow up meeting to discuss results.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>b. Confront inappropriate behaviour.</strong></span></div> <div> Confrontation is an unplanned response to an urgent need to intervene when an employee exhibits poor performance or behaviour. An example may be when a manager witnesses an action that compromises company safety regulations, policies, or procedures. </div> <div> Confrontation should: </div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>include observation, inquiry, and listening</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>acknowledge the effort and explain the concern</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>teach corrective action</div> <div> </div> <div> <span style="font-size: 14px;"><strong>c. Document both good and bad performance.</strong></span></div> <div> If the problem intensifies, employee’s performance and behaviour should be documented which will be useful while defending organization legally in future. Documentation should be fair, consistent, and objective. In addition, documentation should note corrective actions and results- good or bad. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>d. Measure performance.</strong></span></div> <div> Measurement of performance gives foundation for raises, promotions, and corrective actions. Without measurable performance objectives, organization gets open to all kinds of arguments. In the case of disciplinary action, the arguments may have legal implications. Organization must be able to demonstrate objectively the events leading up to disciplinary action. The evidence must speak for itself. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>e. Withdrawing responsibilities</strong></span>.</div> <div> This step should be taken as a tool to demotivate and harass non-performing staffs for encouraging him/her to take voluntary retirement.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>f. Administer formal discipline as a last resort.</strong></span></div> <div> If all else fails to bring compliance, organization must be prepared to enter into the disciplinary process. Discipline is a formal process with serious implications and can put organization in a position to defend itself legally. Generally there are three outcomes of the formal disciplinary process, and in two of the three possible outcomes, organization will lose the employee: </div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>The employee will live up to the expectations and successfully correct his or her behaviour or performance.</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>The employee will not live up to the expectations and will eventually be terminated.</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>The employee will resign outright.</div> <div> </div> <div> When taking formal disciplinary action company’s policy should be followed. Progressive disciplinary action may consist of first level warning, second level warning, stopping pay increment, suspension without pay and termination. At the same time upper management, human resources, legal counsel and any other parties with an interest in action should be consulted before taking such actions. Discipline must be applied consistently in all situations. It should be kept in mind that the organization acts in accordance with the country’s laws, any existing contracts and any collective bargaining agreement.</div> <div> </div> <div> The bottom line of termination is; it should be done with proper homework in order to provide safety to the organization and staffs.</div> <div style="text-align: right;"> <em>(Based on a discussion organised by Real Solutions, a Human Resource consulting firm recently)</em></div> <div> </div>', 'published' => true, 'created' => '2014-02-20', 'modified' => '2014-12-22', 'keywords' => 'new business age management gyan news & articles, management gyan news & articles from new business age nepal, management gyan headlines from nepal, current and latest management gyan news from nepal, economic news from nepal, nepali management gyan economic news and events, ongoing management gy', 'description' => 'Performers generate many of the company’s new ideas because they tend to look for ways to improve procedures to maximize their own productivity.', 'sortorder' => '2487', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 11 => array( 'Article' => array( 'id' => '2589', 'article_category_id' => '91', 'title' => 'Made In Nepal: Fantasy And Fact', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Siromani Dhungana</strong></div> <div> </div> <div> What does ‘Made in Nepal’ stand for? The Nepali products cannot get foothold in global market unless manufacturers cannot answer this question. Young entrepreneurs, Non-Resident Nepalis (NRNs), industrialists and even bureaucrats often talk about making Brand Nepal visible. It, however, has been more than evident that they have ignored or neglected bottlenecks to make the brand Nepal visible.</div> <div> </div> <div> “Nepali products lack competitiveness. High lending rate and unnecessary labour cost have resulted in higher production cost of Nepali products,” says economist Rameshore Khanal.</div> <div> </div> <div> Another crucial issue is quality. Economist Sujeev Shakya opines, “Made in Nepal tag should not be equivalent to substandard products. Quality is key issue and our products cannot get good reputation unless we can assure it.”</div> <div> </div> <div> Nepal could make its own identity in agro and herbs products if there would have been a lab that could assure quality, said Khanal. Developed countries give high priority to quality while importing agro products, he said. But Nepal lacks even a standard lab.</div> <div> </div> <div> Honey and other products could get market if we had been able to assure their quality.</div> <div> </div> <div> Some Nepali brands are finding markets in other countries. But the question is: are they commercialized? Generally, Nepali products are focused on niche segments that are too small, said young entrepreneur Sabda Gyawali.</div> <div> </div> <div> In fact, Made in Nepal products have still a long journey to go in terms of commercialization. It is harsh reality that foreigners do not buy Nepali products because of its commercial value but as a souvenir or showpiece or for aesthetic, Gyawali shared with The Corporate.</div> <div> </div> <div> Nepali manufacturer should be able to create unique selling point (USP) of their products, agreed Samir Thapa, president of Nepalese Young Entrepreneurs’ Forum that organizes Made in Nepal expo every year.</div> <div> </div> <div> Experts, however, point out that the current modalities of promotional activities are very effective. “It is quite ironical that we target Nepali Diaspora population even if we organize Made in Nepal expo abroad,” an economist told The Corporate.</div> <div> </div> <div> Nepali manufacturers’ failure to tap evolving market is another reason. Researcher and member of NYEF Manish Jha said that Nepali manufacturers have failed to identify their target market. Export to Europe and USA has been quite rhetorical, he said. “It is time to seek evolving market like South Asia which is more convenient to Nepali exporters.”</div> <div> </div> <div> It is important to emphasise here that we need to invest in various aspect including that of branding, marketing skills, technology and networking before ‘Made in Nepal’ tag gains recognition and respect in the global market.</div>', 'published' => true, 'created' => '2014-02-17', 'modified' => '2014-02-21', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'As Nepali entrepreneurs look to expand their footprint globally, many analysts believe that they still have a long way to go. Nepali products should maintain quality to make the tag ‘Made in Nepal’ an accepted one in the global market.', 'sortorder' => '2486', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 12 => array( 'Article' => array( 'id' => '2643', 'article_category_id' => '47', 'title' => 'A Twist Of Time', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> </div> <div> <strong>--By Sujan Tiwari</strong></div> <div> </div> <div> Binayak Shah, the President of European Economic Chamber Nepal, Vice President of Summit Group of Hotels and Resorts and Managing Director of Airport Hotel, had started his career from the young age of 17. Though deterred from business as a youth, he ultimately ended up where he was supposed to: in a mega scale business of hospitality and World Expos. Shah, who likes to call himself a development oriented businessman, says that making money is not his sheer aspiration. “I feel that I have to help my country through my business, only then it becomes fruitful,” says Shah.</div> <div> </div> <div> Shah started off as a journalist and used to work for Gorkhapatra and Radio Nepal. “I used to do reporting and proof reading for Gorkhapatra, and did news monitoring for Radio Nepal. That’s where I believe I started my career,” recalls Shah. </div> <div> </div> <div> Shah says he was always oriented towards business, since a very young age. His father never held a job; he was involved in trade and commercial agriculture and did jute and other plantations on a big scale. Unfortunately, a flood in Koshi once swept away all their land and plantation, sending his father deep in debt. His father was deeply shocked by the event, lost a lot of money and stopped doing business. His father also advised him to get a government job and keep away from business. </div> <div> </div> <div> <span style="font-size: 16px;"><strong>Early Life</strong></span></div> <div> Shah was born in 1953 in Durbar Marg of Kathmandu to Late Devendra Bahadur Shah and Gauri Shah. Shah was the eldest of three sisters and a brother. His house was in the same place where Hotel Annapurna is today. “I was born and brought up there till the age of ten. We had to sell our property owing to pressure from the Royal Palace back then as there were plans of establishing the hotel,” recalls Shah. Then the family moved to ancestral house in Gyaneshwor, and Shah still resides in the same place today. </div> <div> </div> <div> Shah did his schooling from Shanti Vidya Griha. He says he was admitted directly in Grade 5 as he used to take home tuitions prior to joining school. He completed his SLC from there, and did his IA from Mahendra Ratna College. He did his graduation from Trichandra College, and finished his Masters in Economic from TU. </div> <div> </div> <div> <span style="font-size: 16px;"><strong>Initiation</strong></span></div> <div> After completing his studies, Shah opted for government job. He joined the then Trade Promotion Centre and worked there for 16 years. He served there in various positions including Department Head and In-charge of International Marketing. During his tenure, he promoted Nepal and Nepali products like carpets, garments and handicrafts in Western European countries. He worked with various international development agencies like GTZ, International Trade Centre and others to promote Nepali products in Europe. “I participated in numerous international trade fairs and exhibitions back then,” says Shah. </div> <div> </div> <div> As a Thakuri, job in army or police was another prospect for him, but life had other plans for him. Thanks to his job in Trade Promotion centre, his orientation towards business grew even stronger. “Government jobs didn’t suit me well, there were lot of political interferences, still I held on for some time,” says he.</div> <div> </div> <div> During his 16 years government job, he made a lot of contacts and relations with international business community. Then he left the job in 1992, and with his initiation, Nepal German Chamber of Commerce and Industries was formed. Shah was the first CEO of the Chamber and he fostered the trade between Nepal and Germany during his tenure. “I formed Business Advisory Service program which was a result of cooperation between German Development Bank and Nepal German Chamber. The program helped numerous SMEs in upgrading their capacities in terms of export,” says Shah. </div> <div> </div> <div> <span style="font-size: 16px;"><strong>Later Years</strong></span></div> <div> Shah’s involvement in Trade Promotion Centre and Nepal German Chamber of Commerce and Industry made him ready to do business on his own. “I had assisted numerous businesses as Business Development Consultant. Later I thought that it was time for me to start something of my own,” says Shah. In the year 2000, he jumped into business and became a full time business person. </div> <div> </div> <div> Shah then started organizing mega-scale international fairs, events and exhibitions that promote Nepal and Nepali products. He specializes in constructing Nepali pavilions with life-size replicas of Nepali temples and structures illustrating art and architecture of Nepal in World Expositions around the globe. World Exposition is a huge public exhibition that is organized around the world by Bureau of international Exposition (BIE), Paris, of which Nepal is also a member. A total of 167 countries are member of BIE. </div> <div> </div> <div> </div> <table align="center" width="100"> <tbody> <tr> <td> <img alt="Nepal Pavillion at Expo 2010 Shanghai, designed, built and operated by IEG" src="/userfiles/images/prs2%20(Copy).jpg" style="border-width: 0px; border-style: solid; width: 550px; height: 368px;" /></td> </tr> <tr> <td bgcolor="#DDDDDD"> <div align="center"> Nepal Pavillion at Expo 2010 Shanghai, designed, built and operated by IEG</div> </td> </tr> </tbody> </table> <div> </div> <div> <span style="font-size: 16px;"><strong>Present Times</strong></span></div> <div> Shah participates in the World Expos through his company Implementing Export Group (IEG), where he is also the Director of International Marketing and Promotion. Shah has constructed various themed Nepali pavilions in World Expos in Germany, China, Japan, Australia, South Korea and other countries. His pavilions have been viewed by millions of people worldwide. “The participation in World Expos massively supports tourism, trade and goodwill of Nepal. We represent entire Nepal in a small scale in these Expos,” says Shah. The next World Expo is going to be held in Milan in 2015 with the theme ‘Feeding the Planet, Energy for Life’, and Shah is currently busy preparing for it. </div> <div> </div> <div> “The Expos do a lot of promotion of Nepal and supports Nepal in numerous ways,” says he. Shah, who recently turned 60, says that participating in these Expos required him to stay overseas for a long time. “Since travelling very frequently doesn’t suit me, I started looking after Airport Hotel as Managing Director,” says he. </div> <div> </div> <div> <span style="font-size: 16px;"><strong>Personal Side</strong></span></div> <div> Shah married Shanta Shah in 1979, and the couple has a son and a daughter Bishan and Ojaswi. Shah says he is busy on all days, and doesn’t usually take leave even on Saturdays. “When I am free, I get restless. I have to be working all the time and I like to keep myself occupied all the time. Free time makes you worry, and I try to avoid that,” says a workaholic Shah. </div> <div> </div> <div> Shah gets up at 5:30 in the morning and is always at his office at Airport Hotel at 8:30. He holds a meeting everyday among his staffs. “There are various departments, and all have to be coordinated for the smooth operation of Hotel. I coordinate between all the departments through the meeting every day,” explains Shah. According to him, maintaining good personal relation with the staffs is the key to make them more productive and motivate them. In the day, he looks after the tasks of Summit Group of Hotels and Resorts. Shah’s evenings are spent in socializing and get-togethers and parties. </div> <div> </div> <div> Shah used to play cricket when he was young, and also was the captain of his team in University. He still finds time to watch cricket on TV, and is a fan of Nepali cricket team. He also loves photography and travelling. “My business has allowed me to travel a lot. I have travelled Europe extensively, and many other countries around the world,” says he. </div> <div> </div> <table align="center" width="100"> <tbody> <tr> <td> <img alt="Shah with his family" src="/userfiles/images/prs1%20(Copy)(1).jpg" style="border-width: 0px; border-style: solid; width: 550px; height: 368px;" /></td> </tr> <tr> <td bgcolor="#DDDDDD"> <div align="center"> Shah with his family</div> </td> </tr> </tbody> </table> <div> </div> <div> <span style="font-size: 16px;"><strong>Word of Advice</strong></span></div> <div> “I am a self made man; I am where I am only because of me. I have no regrets, and I am happy,” says the contented man. In his words, time is the most crucial thing in one’s life, and it should never be wasted. “Time is the most important thing, it won’t wait for you and you won’t get it back. If you act on time, you can achieve a lot, if you miss it, it won’t come back for you,” says Shah. </div> <div> </div> <div> Shah believes that Nepal has come have a long way in a few years, but still a lot needs to be done. “All entrepreneurs and businessmen should think for the country and make long term plans. No one gets rich overnight,” says he. According to Shah, Nepal’s true potential is in numerous sectors, we Nepalis just have to be sincere towards our work. “Nepal cannot compete with India and China in manufacturing, but it is not the same scenario in herbs, tourism and hydropower. We should be able to capitalize our resources,” says Shah. Shah also believes that if we can commercialize agro-forestry, then we can feed the entire world. </div>', 'published' => true, 'created' => '2014-02-20', 'modified' => '2014-02-21', 'keywords' => 'new business age personality news & articles, personality news & articles from new business age nepal, personality headlines from nepal, current and latest personality news from nepal, economic news from nepal, nepali personality economic news and events, ongoing personality news of nepal', 'description' => 'Binayak Shah, the President of European Economic Chamber Nepal, Vice President of Summit Group of Hotels and Resorts and Managing Director of Airport Hotel, had started his career from the young age of 17. Though deterred from business as a youth, he ultimately ended up where he was supposed to:', 'sortorder' => '2484', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 13 => array( 'Article' => array( 'id' => '2640', 'article_category_id' => '79', 'title' => 'Nepal-Sri Lanka: The Half Century Bond', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> </div> <div> <strong>--By Upashana Neupane</strong></div> <div> </div> <div> <img alt="Sri Lanka" src="/userfiles/images/br5%20(Copy)(1).jpg" style="float: right; margin: 0px 0px 0px 10px; width: 300px; height: 452px;" />Diplomatic relations betweenNepal and the Democratic Socialist Republic of Sri Lanka established 57 years ago on 1st July 1957. Relations between the two countries are marked by goodwill, mutual understanding and cooperation. </div> <div> </div> <div> Nepal opened an Honorary Consulate General in Colombo in 1975 and established its embassy in 1995. Sri Lanka has a residential embassy in Kathmandu since 1993. Nepal and Sri Lanka are the founder members of the South Asian Association for Regional Cooperation (SAARC) and are also the members of another regional organization called Bay of Bengal Initiatives for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC). Both countries share similar views on many international issues and work closely in various international forums such as the UN, NAM, WTO, etc.</div> <div> </div> <div> <span style="font-size: 16px;"><strong>Trade and Commercial Relations</strong></span></div> <div> Nepal and Sri Lanka concluded bilateral trade agreement on 3 April 1979. Despite this agreement, trade between the two countries is not up to the desired level due to, among other things, higher cost of transportation, lack of conducive environment for business, lack of interests on the part of business people etc.</div> <div> </div> <div> <strong><span style="font-size: 16px;">Nepal’s Trade with Sri Lanka</span></strong></div> <div> Sri Lankas’ major exports to Nepal are cocoa and cocoa preparations, coffee, tea, spices, electrical machinery and equipment, parts of sound recorders and reproducers, television, cereal preparations, flour, starch or milk pastry cooking products, sugar and sugar confectionery, miscellaneous edible preparations, apparel articles and clothing accessories- knitted or crocheted , edible vegetables, certain roots and tubers and so on.</div> <div> </div> <div> Sri Lanka’s major imports from Nepal are grains (lentils). Other import items, though insignificant, are plastic articles, articles of wood charcoal , carpets and other floor coverings, art work, collectors' pieces and antiques, electrical machinery and equipment and parts of sound recorders and reproducers, television, printed books, newspapers, pictures and products related to the printing industry, manuscripts, raw hides, skins (other than fur skins), leather and so on.</div> <div> </div> <div> The trade figure for the past four years between Nepal and Sri Lanka has been as follows:</div> <div> </div> <div> <img alt="Nepal’s Trade with Sri Lanka" src="/userfiles/images/br1%20(Copy)(7).jpg" style="width: 550px; height: 408px; margin-left: 10px; margin-right: 10px;" /></div> <div> </div> <div> <span style="font-size: 16px;"><strong>Tourists from Sri Lanka</strong></span></div> <div> Lumbini is one of the holiest destinations to the Sri Lankan Buddhists. Sri Lankan government has been reiterating its support to Nepal’s efforts to further develop Lumbini as a City of World Peace. Sri Lanka has constructed rest house for Sri Lankan Buddhist pilgrims and a Monastery Complex in Lumbini. </div> <div> </div> <div> <img alt="Tourist Arrival to Nepal from Sri Lanka" src="/userfiles/images/br2%20(Copy)(4).jpg" style="width: 550px; height: 413px; margin-left: 10px; margin-right: 10px;" /></div> <div> </div> <div> <span style="font-size: 16px;"><strong>Air Services Agreement </strong></span></div> <div> With the aim to increase tourists flow from either country through direct air connectivity between Kathmandu and Colombo, Nepal and Sri Lanka had signed an Air Services Agreement (ASA) on 19 February 1977. On 23 November 2004, a new Memorandum of Understanding (MOU) was signed by both nations in Colombo for reviewing and replacing the previous agreement. The Air Service Agreement and additional MOU on increasing the air seats and providing fifth freedom rights to Sri Lankan airlines was agreed at the negotiations held during 22-24 January 2009, in Kathmandu. </div> <div> </div> <div> <img alt="TidBits" src="/userfiles/images/br3%20(Copy)(4).jpg" style="width: 550px; height: 342px; margin-left: 10px; margin-right: 10px;" /></div> <div> </div> <div> <span style="font-size: 16px;"><strong>Joint Venture </strong></span></div> <div> In the 1990’s the Sri Lankan Bank of Ceylon opened a joint venture bank in Nepal. However the Sri Lankan bank withdrew later due to what they call as unfavourable circumstances. Presently some commercial banks operate between the two countries. Commercial Bank of Ceylon, Sri Lanka and some of Nepal’s private sector bank have close links. In October, 2013 delegation of Commercial Bank of Ceylon, Sri Lanka visited Nepal. Nepal Sri Lanka Chamber of Commerce has been established for easing joint ventures and trade between both nations. Nepali investors have invested over $ 200 million in Sri Lanka’s hotel and leisure sector like the Hotel Taj Samundra and Grand Oriental Hotel. Binod Chaudhary of Chaudhary Group is planning to invest US $ 100m for setting up cement plant and some leisure projects in coastal area of Sri Lanka. </div> <div> </div> <div> <span style="font-size: 16px;"><strong>Joint Economic Commission</strong></span></div> <div> Nepal and Sri Lanka has signed an Agreement on March 2-4, 2009 to establish Joint Economic Commission to be led by the Foreign Ministers of both countries. The agreement contains provisions for cooperation in areas of trade, finance, agriculture, industry, development of infrastructure, science and technology, investment and other matters mutually agreed upon. The first meeting of JEC is to be held in Colombo.</div> <div> </div> <div> <span style="font-size: 16px;"><strong>Exchange of Visits</strong></span></div> <div> Exchange of high-level visits from both sides at various levels has contributed in elevating existing bilateral relations to new heights and have proved highly productive for creating an conducive atmosphere for upgrading mutual trade and commercial relations.</div> <div> </div> <div> <img alt="Highlights of Nepal- Sri Lanka Relation" src="/userfiles/images/br4%20(Copy)(1).jpg" style="width: 550px; height: 565px; margin-left: 10px; margin-right: 10px;" /></div> <div> </div> <div style="text-align: center;"> <hr /> <p> <strong style="font-size: 18px;">“We are entering into tourism cooperation with Nepal”</strong></p> </div> <div> <div> </div> <div> <table align="right" style="margin: 0px 0px 0px 10px;" width="25"> <tbody> <tr> <td> <img alt="W.M. Senevirathna, Ambassador of Sri Lanka to Nepal" src="/userfiles/images/br1a1%20(Copy).jpg" style="border-width: 0px; border-style: solid; width: 200px; height: 233px;" /></td> </tr> <tr> <td bgcolor="#FFFFFF"> <div align="center"> <div> <strong>W.M. Senevirathna</strong></div> <div> <em>Ambassador of Sri Lanka to Nepal</em></div> </div> </td> </tr> </tbody> </table> <div> <span style="font-size: 14px;"><strong>How is your experience in diplomatic career? </strong></span></div> <div> I have come to serve in Nepal, one of the world’s beautiful landmass filled with hospitable and friendly people. Sri Lanka and Nepal both have lot of similarities like culture, religion, food, friendliness and hospitability. I joined government service first as a graduate teacher in 1979 in Vidumina Piriven College, Kandy and joined the Sri Lanka Foreign Service as an Assistant Director at the Ministry of Foreign Affairs, Colombo in 1985. Since then, I have worked in ten Sri Lankan diplomatic missions including West Germany, Pakistan, Malaysia, Lebanon, USA, Canada, and Iraq. I have served as Sri Lankan ambassador to the Philippines, Israel and Nepal. </div> <div> </div> <div> Apart from this I have worked at the Ministry of External Affairs of Sri Lanka for a short period. I was the Vice Chairman (2006) and Chairman (2007) of the Governing Board of the Colombo Plan Staff College for Technician Education (CPSC) in Manila. I have represented Sri Lanka in various regional and international conferences such as South Asian Association for Regional Conferences [SAARC], World Bank, International Natural Rubber Organization [INRO] and Asian Regional Forum [ARF]. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>You have been in Nepal for nearly a year now. How are your impressions? </strong></span></div> <div> During this time I have met and interacted with Nepal’s senior government officials, politicians, diplomats, and businessmen and exchanged views at various levels. Within this one-year tenure, many high level delegations from Sri Lanka have visited Nepal, especially Lumbini. </div> <div> </div> <div> Nepal is such a beautiful country filled with lots of historical sites, mountains, and other natural resources. During my stay here, I have travelled to different parts of this country; Pokhara, Lumbini, Chitwan. I have trekked from Nagarkot to Dhulikhel and done rafting in Trishuli and Dolalghat. I have visited Chitlang and had an opportunity to interact with the friendly people of the village. I have also visited historical places such as Bhaktapur, Durbar Square that have masterpieces of skilful architecture, sculptures, and well-preserved ancient monuments that represent the living cultural heritage of Nepal. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>How do you evaluate the last elections and where do you see the country heading to next? How will the polls and the outcome affect regional peace and stability and Nepal’s relations with Sri Lanka?</strong></span></div> <div> The Constituent Assembly election held on 19th November 2013 was a new step towards the development of the country. The election was conducted in a very peaceful environment and was appreciated by local and foreign observers. Asian Network for Free Elections [ANFREL], Carter Foundations and other observers from different countries took part. The Nepali government had invited SAARC observers to visit and observe the election. Two delegations from the Sri Lankan Election Commission had observed the election. Out of the total 12.1 million population, 9.4 million people casted votes. It is a turnout of 78%, which is very high. As the election was a success, the constitution of Nepal can be finalized.</div> <div> </div> <div> As a representative of the Sri Lankan Government, we respect Nepali people’s mandate. Political stability will enhance peace and socio economic development of a country. Nepal Stock market Index NEPSE passed 700 points after the election. This reflected investors confidence in the government.</div> <div> </div> <div> Benefits of the election include inflow of Foreign Direct Investments [FDI] and representation in regional and international conferences, such as hosting the SAARC Summit in the coming year.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Despite signing bilateral trade agreement in 1979, business between the two nations is quite low, less than 2 billion NRs in the last financial year [exports and imports together]. Why still insignificant?</strong></span></div> <div> Trade between the two countries has remained at a low level. The Sri Lankan and the Nepali government have taken important steps in the economic and tourist sectors with an aim to increase the volume of bilateral trade, investment and tourism. Various issues have limited bilateral trade between both countries. Limitations include the high cost of transportation and lack of direct air connectivity. These limitations have limited the volume of import and export. Both countries produce and export the same crops and commodities. However, Sri Lanka imports carpets, woollen clothes and lentils from Nepal and exports cocoa, cocoa preparations, table and kitchenware, tea, gem and jewellery to Nepal</div> <div> </div> <div> <span style="font-size: 14px;"><strong>What specific measures do you suggest for enhancing the business relations and total value and volume of business between the two nations?</strong></span></div> <div> The total value and volume of trade between the two nations is not satisfactory due to the various reasons. Primarily we would like to have direct air connectivity and an exchange of business delegations to attend trade fairs. Recommending each other to attend trade fairs business forums in each other’s capital will help to interact and promote business.</div> <div> </div> <div> I am pleased to announce that the Chaudhary Group, Nimbus, Youth Entrepreneurs, and Sagarmatha Insurance have already taken steps in this regard. They have visited Sri Lanka and taken part in business forums to extend their business. Similarly, various Sri Lankan companies are taking part in Nepali trade fairs to expand their business here.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Arrival of Sri Lankan tourists to Nepal, especially to Lumbini, has crossed 75,000 a year. What trends and numbers you expect in near future? How can Nepal tourism be promoted in Sri Lanka?</strong></span></div> <div> As you are perhaps aware, 70% of the Sri Lankan population is Buddhists. Being Buddhist, they would like to see the birthplace of Prince Siddhartha, “Gautam Buddha” with the excavation at the Mayadevi Temple, Lumbini. Sri Lankan visitors are keen to visit Lumbini, Nepal and want to experience the beauty Nepal offers.</div> <div> </div> <div> We are in a process to enter into tourism cooperation agreement with the Nepali government so that it will be easy for Sri Lankan tourist to visit Lumbini.</div> <div> </div> <div> Through tailored tour packages to Lumbini and historical Buddhist places, Nepal can attract Sri Lankan and other nation tourists. More than 5000 Sri Lankan tourist visit to Kathmandu by air and I would like to inform that Sri Lanka Tourist are the number one travellers to Lumbini. If tour packages and facilities are provided, we hope to see the numbers exceed 1000,000.</div> <div> </div> <div> The Sri Lankan Embassy in Nepal with support of Sri Lanka Tourism Promotion Bureau is arranging a familiarization tour to Sri Lanka for Nepal Tour Operator Association in 2014. I think Nepal should prepare some awareness programme, for example tour packages and other facility to attract Sri Lanka tourists.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>What are the initiatives taken by Sri Lanka to upgrade tourism and facilities in Lumbini?</strong></span></div> <div> Sri Lanka and Nepal signed the Agreement on Cultural Cooperation in 1999,to expand their cultural relationship further. Sri Lanka has agreed to assist Nepal in heritage management and proposed to establish a course on Culture and Heritage Studies at a university in Nepal.</div> <div> </div> <div> Support has been extended for Nepali students to study Therawada Buddhismin Sri Lanka. Sri Lanka re-establishment of Therawada Buddhism in Nepal. In 1992 a pilgrims resting place, “Dutugemunu Pilgrim Rest,” was established for in Lumbini for the Sri Lankan devotees. This wasrenovated in 2012 to accommodate over 135 visitors. A bridge close to Lanka Ramaya temple at gate no. 4 of the Maya Devi Temple was constructed to making it easy for visiting the temple. Adding to, the road near the Sri Lankan Temple, which is shortest access to Mayadevi Temple, was widened. The Sri Lankan Government spent SLRS 90 million on all these projects to facilitate Sri Lankan tourists visit to Lumbini.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>There has been an air service agreement between the two nations for more than 25 years, which was upgraded recently as well. What is its status and what are the benefits of having fifth freedom rights for Sri Lankan airlines?</strong></span></div> <div> Bilateral Air Service Agreement was signed during H.E. the President’s last visit to Nepal in March 2009. Lack of direct air connectivity between the two countries is one of the major barriers in promoting trade.</div> <div> </div> <div> Code Sharing Basis will facilitate both Sri Lankan and Nepali airlines, to travel to each other’s countries. The fifth freedom right will enable Sri Lankan airlines to get passengers of other destination as well. Sri Lankan government would like to commence air connectivity in the near future and discussions in this regard are being held.</div> <div> </div> <div> Joint Economic Commission between the two nations was formed a few years earlier. What roadmap and outcome you see of the same in the next two years?</div> <div> We signed the MOU on Nepal – Sri Lanka Joint Commission in March 2009. Both countries have agreed to hold the first Joint Economic Commission meeting in Sri Lanka. We hope to conduct annual Joint Economic Commissions meet in each other’s capital.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Sri Lanka has a small population, history of civil war, and difficulties in its relations with neighbours, much like Nepal. What suggestions you have for the building of new Nepal, in light of the Sri Lankan nation-building and development experience? </strong></span></div> <div> Sri Lanka’s population is 21 million. There was no civil war in Sri Lanka but a terrorist war. Beginning on 23 July 1983, there was an insurgency against the government forces by the Liberation Tigers of Tamil Eelam [LTTE] which fought to create a separate and independent Tamil state called Tamil Eelam . 12% of the population demanded 2/3 of Coastal area and 1/3 of the total Area of the country. Government’s main policy was ‘One Country and One Nation’. After a 30 year military campaign, the Sri Lankan military defeated the Tamil Tigers in May 2009, ending the terrorist war. </div> <div> </div> <div> For over 30 years, this terrorist war caused significant hardships for the population, environment and the economy of the country. An estimated 40,000 people were killed during the war but Sri Lanka was able to sustain over 6% economic growth rate.</div> <div> </div> <div> During the conflict period, the Sri Lanka government was able to attract Foreign Direct Investment that prioritized infrastructure development. For nation building, President of Sri Lanka requested all political parties to join hands with the government to overcome national problems. This succeeded in 2009. All political parties supported the government for boosting national economy by forgetting their political differences. As a result, Sri Lanka has positive indicators. </div> <div> </div> <div> I wish the newly elected member of the Constituent Assembly of Nepal could get together and join hands for the formation of a stable government and serve the people of this beautiful country.</div> </div> </div> <p> </p>', 'published' => true, 'created' => '2014-02-20', 'modified' => '2014-02-20', 'keywords' => 'new business age bilateral relations news & articles, bilateral relations news & articles from new business age nepal, bilateral relations headlines from nepal, current and latest bilateral relations news from nepal, economic news from nepal, nepali bilateral relations economic news and events, o', 'description' => 'Diplomatic relations between Nepal and the Democratic Socialist Republic of Sri Lanka established 57 years ago on 1st of July, 1957. Both the Countries are bound by warm and friendly economic, cultural and political relations.', 'sortorder' => '2483', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 14 => array( 'Article' => array( 'id' => '2642', 'article_category_id' => '80', 'title' => 'Degrading Higher Education System', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <div> <strong>--By Narayan Prasad Paudel</strong></div> <div> </div> <div> Higher education in Nepal has drawn massive attention and concern from various communities across the nation. If higher education system of the country is reliable, quality conscious, functional and market and need driven, it ultimately serves the greater need of the aspirant youth of the country in materializing their dreams with upgraded level of skill sets that correspond to the rising market potentiality. Nepali youths are facing many problems due to the substandard quality of education provided by most of the education institutions. The focus of education in Nepal is mass-and money-driven, rather than quality - and outcome - driven. Due to serious limitations and lack of focus on the employability of its products, Nepal’s education system is more or less, except for a few exceptions, unable to create hope and happiness across the larger segment of the Nepali society.</div> <div> </div> <div> <span style="font-size: 16px;"><strong>Universities and their focus </strong></span></div> <div> As of today, Nepal has nine different universities (TU, KU, Pokhara, Purbanchal, Sanskrit, Buddhist, Agriculture, Mid Western and Far Western ) providing higher education. Among these, the oldest and the biggest is Tribhuvan University (TU), established in 1959 by the government, is providing higher education to more than 450,000 students.</div> <div> </div> <div> Sanskrit University, established in December 1986, operates from its central office in Dang district. Kathmandu University (KU), established in 1991, is providing higher education to 4,000 students in its own constituent campuses and 7,500 students from its affiliated colleges.</div> <div> </div> <div> Pokhara University, established in 1997 as Nepal's fifth University, has provided higher education to more than 25,000 students through its affiliated campuses. Purbanchal University established in 1993, operates from its head office in Biratnagar. Along with these two regional universities, Mid Western and Far Western Universities provide higher education in their respective development regions. </div> <div> </div> <div> Besides them, the Agriculture and Forestry University (AFU) and the Lumbini Buddha University (LBU) are other two universities established in Nepal.</div> <div> </div> <div> <span style="font-size: 16px;"><strong>Current Scenario</strong></span></div> <div> All these universities claim of having good curriculum structure, academic infrastructure and suitable academic environment. Though most of them claim of contributing their best to higher education in Nepal, in reality the scenario is not exactly the same as stated in their documents. </div> <div> </div> <div> <span style="font-size: 16px;"><strong>Curriculum and focus of Faculties </strong></span></div> <div> Talking about the structure of academic curriculum of these universities, except in few cases, there are plenty of shortcomings. This includes repetition of the same courses at different level of academic programmes. </div> <div> </div> <div> Most courses of many of these universities, developed long back, are still in use without timely adjustment to make them, in line with other foreign universities. Most of the courses, are less market - and need driven and more theory oriented that overweight practical courses. </div> <div> </div> <div> Hotchpotch design of the curriculum that ignore the substance and relevance of the subject matter are some of the apparent weaknesses of the curriculum structure in different Universities in Nepal. </div> <div> </div> <div> However, few of the academic programmes e.g. Institute of Medicine, Institute of Engineering and few of the MBA programmes in the country have been able to blend all the necessary requirement in their curriculum and hence are able to attract and motivate national as well international students.</div> <div> </div> <div> Irresponsible academicians are also huge problems in Nepal. For example, some university professors do not entirely contribute time and energy to their own academic institutions as committed by them and as mentioned in their terms of reference (TOR). This trend has resulted in the creation of many helmet professors, unprofessional consultants and development activists, at the cost of academic professional values. </div> <div> </div> <div> <span style="font-size: 16px;"><strong>Politics in the Universities</strong></span></div> <div> Many academicians forget their own status and keep in frequent touch with political activist and leaders. They think that they would be rewarded by being appointed for attractive academic and non-academic moneymaking and to so called higher ladder positions in different institutions like vice chancellors, registrars, deans, campus chiefs, advisors, ambassador etc. This greed of the academic community has ultimately exploited themselves as they lose their most productive time in unproductive appointments. </div> <div> </div> <div> We all know that all our universities are ultimately governed by the government. Using the power of governance the Prime Minister (Chancellor) appoints senior leaders of the universities (e.g. Vice Chancellors)on the basis of the prospective candidate’s inclination towards a particular political ideology and the volume of financial contribution that the candidate can make to the political party that the Prime Minister belongs to. Ultimately, the nearer and the dearer of the Prime Minister get appointed to the prestigious position of the vice chancellors. If we examine, the history, except in a few cases, most of the university leaders have attempted to make such appointees happy with exhibiting extra loyalty towards them. </div> <div> </div> <div> As a result the rest of the leaders of the universities including the registrar, dean, department head, campus chiefs are appointed on the basis of instructions given by political leaders and government authority. They start polluting the institution by hiring faculties on contract by not announcing vacancy through public notice. These rampant contract appointments are made at different layers of the academia on the basis of personal relations and by ignoring the competent public masses that could have been selected, if the selections were made through competitive process. And these are ultimately given permanent position as well. </div> <div> </div> <div> Consequently prospective and qualified teaching professionals are denied the opportunity to teach while incompetent faculties appointed against the principles of good governance and with sub standard quality, provide sub-standard education and affect entire performance of the university. This practice, rampant and prevalent in every academic institutions and universities in Nepal, has caused continuous loss of confidence on these institutions. </div> <div> </div> <div> <span style="font-size: 16px;"><strong>Influence of Student Unions </strong></span></div> <div> Irresponsible activities of the student unions in most of the universities have also resulted in the delivery of sub standard quality and performance of academic programmes. In most cases student union leaders force innocent students to participate in their political activities. Based on instructions provided by the union leaders, students forgo their regular learning activities, involve in activities of political parties and lose their productive time and resources. Otherwise, they would have devoted that time to build their learning ability and gained skills expected by their prospective employers and thereby build basis to lead their dream life. </div> <div> </div> <div> <span style="font-size: 16px;"><strong>The way forward </strong></span></div> <div> Neither political leaders nor government institutions are responsible, nor the academic communities, teachers and students at large, are honestly eager to maintain and upgrade the integrity of the national academia. We are losing our face in the international academic community. Substandard outcome of these programmes has ultimately resulted into greater un-employability, which has led to anxiety, frustration, and depression among the youth and forced them to migrate abroad for employment in menial jobs. </div> <div> What would be the panacea for the aforesaid problems? The ultimate answer is commitment, dedication, and greater focus on responsibility and accountability, from all stakeholders. This would ultimately refine prevailing degrading professional practices rampant in our education system. We all need to improve ourselves, firstly be removing unwanted greed for money and power and secondly by uplifting our professional competencies and qualities through lifelong learning. Faculties need to focus on training, exposure activities, research and publications that would positively contribute to the overall performance of entire community. Society should play greater role to correct the unwanted behaviour of concerned authorities through constant review of an institution’s performance and activities. Government should build highest level of integrity and morale. Government leaders should be free from the unnecessary greed for power and resources. </div> <div> </div> <div> The crux of the problem is our political system, which needs to be overhauled. All political leaders need to frame their role model behaviour and should attempt to exhibit and practice in real life. They should hesitate to infiltrate pure academic environment with party politics, otherwise they would be entirely held accountable for the degrading academic performance. We can refine the political machinery of the nation, if we all have strong commitment to uplift academic height in line with developed countries. The principle of sacrifice and contribution should be embedded in the performance of both political and academic leaders.</div> <div> </div> <div> <em>(Narayan Prasad Paudel, Ph.D, is Assistant Professor, Kathmandu University School of Management. Email: narayan@kusom.edu.np.)</em></div> </div> <div> </div>', 'published' => true, 'created' => '2014-02-20', 'modified' => '2014-02-20', 'keywords' => 'new business age business education news & articles, business education news & articles from new business age nepal, business education headlines from nepal, current and latest business education news from nepal, economic news from nepal, nepali business education economic news and events, ongoing', 'description' => 'The focus of education in Nepal is mass and money driven, rather than quality and outcome driven.', 'sortorder' => '2482', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '2652', 'article_category_id' => '109', 'title' => 'Technical Analysis Of Nepse', 'sub_title' => '', 'summary' => null, 'content' => '<div class="news_detail"> <p> <strong>Market Trend</strong><br /> Nepse continued its bullish rally last week gaining 19.57 points or 2.44% over the four trading periods. The majority of the gains came from the last two trading days (Tuesday and Thursday) where the market rallied by 18.94 points. The substantial rise in Nepse over the past few trading days has caused it to move past its strong resistance level of 806.82 points indicating a strong bullish scenario for the stock market. Nepse is currently well above its 5-year high with numerous stocks becoming very expensive.<br /> <br /> If political climate remains fairly positive along with good financial results from companies, the market may see further upside in the days to come.<br /> <br /> <strong>RSI</strong><br /> RSI is a form of leading indicator that is believed to be most effective during periods of sideways movement. Such indicators may create numerous buy and sell signals that are useful when the market is not clearly trending upwards or downwards. On February 03, 2014, the RSI indicator settled lower at 51.37. Since then, RSI has been gradually creeping upwards. This has caused RSI to move back into the overbought zone. By the end of the last Thursday, the RSI stood at 73.30 levels.<br /> <br /> <strong>MACD</strong><br /> The MACD indicator, which has been witnessing a declining trend since the third week of January 2014, finally crossed above the signal line on Tuesday.<br /> <br /> When a MACD line crosses above the signal line, it is considered to be a positive sign and indicates a time to buy. The MACD line and Signal line increased from 10.60 and 10.80 points in the previous week to 12.87 and 11.35 points respectively. This suggests that the near term moving average is moving upward with a greater momentum while the longer term moving average is gradually shaping upwards.<br /> <br /> <strong>On Balance Volume (OBV)</strong><br /> OBV is a momentum indicator that relates volume to the current price of index or security. During January 19 to February 13 2014, the OBV indicator formed a resistance level in terms of volume of shares traded. In the past week, the indicator moved past its resistance level signaling a positive.</p> <p> <strong>Market Summary<br /> (16 February to 20, 2014)<br /> Close: 822.67<br /> High: 822.67<br /> Weekly Change: 19.57 points<br /> (2.44%)<br /> Daily Average Turnover:<br /> NPR 278.29 Million<br /> Total Weekly Turnover:<br /> NPR 1.11 Billion<br /> Immediate Support: 806.82<br /> Immediate Resistance:<br /> 847.86<br /> RSI: 73.30<br /> MACD Line: 12.87<br /> Signal Line: 11.35</strong><br /> </p> </div> <p> </p>', 'published' => true, 'created' => '2014-02-23', 'modified' => '2014-02-23', 'keywords' => 'money matters of nepal', 'description' => 'money matters of nepal', 'sortorder' => '2497', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 1 => array( 'Article' => array( 'id' => '2647', 'article_category_id' => '156', 'title' => 'Why Executives Are Getting Older And Older', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong>By Rachel Feintzeig</strong></p> <p> Is your boss a little grayer than you expected? Blame the recession.<br /> <br /> New research from the University of Pennsylvania’s Wharton School and Madrid’s IE Business School has found that the age of executives is on the rise, as is the time spent in their roles—lingering effects of a financial crisis that eroded career growth at the highest levels of the corporate ladder.<br /> <br /> For decades, executives bounced around from company to company, taking ever less time to climb to the top. But that was before the recession hit. In recent years, even top corporate leaders saw their paths stalled, says Peter Cappelli, one of the study’s authors and a Wharton management professor.<br /> <br /> One problem is that the oldest generation of executives delayed their retirement post-2008, prohibiting the next employees in line from taking their seats. When companies did have vacancies, they found it difficult to lure fresh talent from the outside: workers were afraid to make changes amid the economic uncertainty.<br /> <br /> Cappelli and the IE’s Rocio Bonet and Monika Hamori analyzed biographies of the top ten leaders of all FortuneFT.T 0.00% 100 companies dating back to 1980. The first stage of their study analyzed executives through 2001, and a recent update brought the research up to 2011.<br /> <br /> Cappelli predicts executives will start to move around more by 2015, even if the economy isn’t booming by then.<br /> <br /> “People wear out their welcome,” he said, “and even the people who are welcome don’t want to stay any longer.”<br /> <br /> Once a few executives start playing musical chairs, change will be swift and widespread, he added, with the trajectory once again pointing toward “sharply declining tenure” at organizations.<br /> <br /> The study, published in the Harvard Business Review, also found that the corner office has gotten more diverse over the last decade and that there are more female and foreign-born leaders. For example, 18% of the executives studied in 2011 were female, as compared to 11% in 2001 and 0% in 1980. The rate of foreign executives rose from 2% in 1980 to 11% in 2011. But those trends come with caveats.<br /> <br /> Companies with foreign executives in their top ranks are “disproportionately” based on the East and West Coasts, according to the study. Women rise to top jobs fast, according to Cappelli, but they seem to be on a different track than men, most often moving up in the marketing or human resources divisions of their companies rather than the operational side. And not all executive jobs are created equal, Cappelli said. A marketing or human resources executive has little chance of becoming CEO – General Motors’ Mary Barra not included.<br /> <br /> The data also highlights sharp disparities between career trajectories at firms. At some businesses, like Chevron Corp.CVX -1.68% and United Parcel Service of North America Inc., leaders stick around; 90% of the top leaders at those companies have been there their entire career. Other firms see more of a revolving door in the executive suite; Sears Roebuck & Co.’s average 2011 executive had only three years there. The variation between companies has to do with the stability of the company’s product, how quickly their operating model is changing and how their boards react to that change, Cappelli said.<br /> <br /> The variation “does reflect very different notions and … understandings of how you succeed in business,” Cappelli said. “The idea that there was a corporate model really seems to be blown up. Now there’s several corporate models.”</p>', 'published' => true, 'created' => '2014-02-23', 'modified' => '2014-03-03', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Is your boss a little grayer than you expected? Blame the recession. New research from the University of Pennsylvania’s Wharton School and Madrid’s IE Business School has found that the age of executives is on the rise, as is the time spent in their roles—lingering effects of a financial crisis that eroded career growth at the highest levels of the corporate ladder.', 'sortorder' => '2496', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 2 => array( 'Article' => array( 'id' => '2646', 'article_category_id' => '153', 'title' => 'Nepali Tea: Tea from the High Lands', 'sub_title' => '', 'summary' => null, 'content' => '<p> </p> <p> Nepal has a long history of tea cultivation, initiated with the establishment of Ilam Tea Estate in the hills of Ilam district in 1863 and Soktim Tea Estate in the plains. It is believed that tea plantation in Nepal started within the same decade, when it was introduced in the hills of Darjeeling, India.</p> <p> First private sector tea plantation in Terai was established in 1959 under the name of Bhudhakaran Tea Estate. Government joined the sector in 1966 with the establishment of Nepal Tea Development Corporation. After considering the potential for tea farming in the eastern development region, in 1982 five districts of the region i.e. Jhapa, Ilam, Panchthar, Terhathum and Dhankuta were declared ‘Tea Zone’. However now days Tea is also cultivated in few other districts.<br /> <br /> Nepal Tea and Coffee Development Board says that promotional activities to promote Nepali tea in the international market are inadequate even though it is listed as a priority in the Nepal Trade Integration Strategy (NTIS) 2010. This list includes the 19 Nepali products that have export potential. “The government should be more concerned about its promotion in the international market so that it receives better market value and positioning in the international market,” states the board.</p> <p> <img alt="Tea Plantation & Production" src="/userfiles/images/f3%20(Copy).jpg" style="width: 550px; height: 225px; margin-left: 10px; margin-right: 10px;" /></p> <p> The 2011 – 12 statistics states that the tea plantations which covers the area of 18149 hectares of land across the nation annually produces 18.3 million kgs of Tea and provides direct employment to 100 thousand people. Private sector actors in the industry comprise of small farmer as well big corporate houses that have large tea estates with tea processing factories and marketing mechanism.</p> <p> <img alt="Tea Plantation and Production in Nepal" src="/userfiles/images/f1%20(Copy).jpg" style="width: 550px; height: 237px; margin-left: 10px; margin-right: 10px;" /></p> <p> There are 140 registered tea estates and 40 tea processing factories that produce 85 per cent of the nation’s production volume.Some of these factories do not have their own tea estate. They process tea produced by small and medium tea farmers. This type of small holding tea estate farming is anticipated to flourish in the days ahead.</p> <p> <img alt="Orthodox and CTC TEa Plantation" src="/userfiles/images/f2%20(Copy).jpg" style="width: 550px; height: 174px; margin-left: 10px; margin-right: 10px;" /><br /> <span style="font-size:14px;"><strong>Packaging Industry</strong></span><br /> There are two types of tea packaging industries operating in Nepal. First of these are the ones operated large scale tea producers who have their own tea estates and use the facility to package their products exclusively. Another type of factories buy tea products from national and international producers and package it at their own facility.<br /> <br /> <span style="font-size:14px;"><strong>Forecasts</strong></span><br /> Presently Tea plantation is dominated by small holders. Future target is set to extend plantation to 40 thousand hectares with an expected harvest of 46 million kg of tea annually whose worth is estimated to be around 247 million dollars. This will generate employment for 102 thousand people in rural areas and is expected to boost up the rural economy, states the Nepal Tea and Coffee Development Board.<br /> <br /> <span style="font-size:14px;"><strong><img alt="Nepal TEa" src="/userfiles/images/f4%20(Copy).jpg" style="float: right; margin: 0px 0px 0px 10px;width: 100px; height: 110px;" />Branding Efforts</strong></span><br /> National Tea and Coffee Development Board has developed a logo in accordance to the provision of the National Tea Policy 2000 to introduce N e p a l Tea in the domestic and international market and create its niche. Half circle green background embedded by double red circle of this national tea logo indicates the eco-friendly environment of the tea garden; where a tea twig having two leaves and a bud flourish. Along with that the smiling and shining southern face of the Mt. Everest placed in the upper half portion of this logo signifies as the tea produced in the land of Himalayas. Two words “NEPAL TEA” placed within the diameter of the logo circle establish unfailingly as a brand that symbolizes – “A symbol of quality from the top of the world.”</p>', 'published' => true, 'created' => '2014-02-23', 'modified' => '2014-03-03', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'There are 140 Registered Tea Estate which contribute 85 per cent of the National’s production volume. Nepal has 40 Tea processing factories in private sectors.', 'sortorder' => '2495', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 3 => array( 'Article' => array( 'id' => '2645', 'article_category_id' => '91', 'title' => 'Govt Seeks ‘Formula’ To Reduce Trade Deficit', 'sub_title' => '', 'summary' => null, 'content' => '<table cellpadding="0" cellspacing="0" height="18" hspace="0" vspace="0" width="192"> <tbody> <tr> <td align="left"> <p> <strong>By TC Correspondent</strong></p> </td> </tr> </tbody> </table> <div style="clear: both;"> Alarmed by a whopping trade-deficit, the government is all set to form a separate high-level taskforce, which will identify possible solution to reduce the existing trade deficit.</div> <p> The trade imbalance has now become a serious problem as the country’s trade deficit continues widening year on year, said secretary at the Office of the Prime Minister, Krishna Hari Baskota. “The government is serious to increase promotional activities for Nepal’s products in the international market for reducing the<br /> trade deficit.”</p> <p> According to Nepal Rastra Bank (NRB), the nation’s trade deficit with India has reached Rs 190.95 billion, out of the overall trade deficit of Rs 288.76 billion in the first half of the current fiscal year.</p> <p> Trade deficit has a multiple effects since it drains money from the country’s economy, Banskota said, adding that remittance inflow has become crucial in maintaining Balance of Payment (BoP) of the country. It is not good for country’s financial health to rely on remittance inflow forever, he opined. According to the central bank, the country witnessed a total of Rs 266 billion remittance inflow in the first half of the current fiscal year.</p> <p> Coordination among various stakeholders is a must to reduce hassles in trade, he said. The coordination among various stakeholders has not been materialised so far, he informed. It is time that policymakers and businesses made concerted and coordinated attempts to tackle country’s trade imbalances before we are faced with serious crisis, he further said, adding that it is also the right time to address the issue as the country is all set to get a moderate and liberal government led by parties which embrace liberal economy policy.</p> <p> Elaborating further Banskota pointed that the ‘one stop services’ to promote export promotion has been limited to papers. “We need to seriously implement all provisions which the government has introduced with aim of facilitating trade activities,” he said. He blamed the private sector for being hell bent on collecting service charge rather than contributing to trade facilitation. It is not necessary to issue both Generalize System of Preference (GSP) and Certificate of Origin (CO) for the products. But, this hassle has not been removed, as private sector does not want to lower their profit, which they have been collecting while issuing these two certificates, he blamed.</p> <p> <span style="font-size:14px;"><strong>Govt’s Mantra to Reduce Trade Deficit</strong></span></p> <p> • Establishment of herbs collection and processing centres<br /> • Upgradation of labs<br /> • Verification of organic products<br /> • Acquiring collective trademark<br /> • Government’s assistance in acquiring trademarks<br /> • Increased participation in global trade fairs<br /> • Effective implementation of Nepal Trade Integration Strategy 2010</p>', 'published' => true, 'created' => '2014-02-23', 'modified' => '2014-02-24', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Alarmed by a whopping trade-deficit, the government is all set to form a separate high-level taskforce, which will identify possible solution to reduce the existing trade deficit.', 'sortorder' => '2494', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 4 => array( 'Article' => array( 'id' => '2590', 'article_category_id' => '91', 'title' => 'Nepal-India Trade Expo In Birgunj', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By TC Correspondent </strong></div> <div> </div> <div> A ten-day Nepal-India Trade Expo 2014 kicked off in Birgunj last Thursday (February 13). Indian ambassador to Nepal Rajit Rae inaugurated the expo amid a function organized at Aadarshanagar stadium in Birgunj. </div> <div> </div> <div> Ambassador Rae underlined the need for infrastructure development to attract more foreign investment to Nepal. </div> <div> </div> <div> “Nepal needs to implement investment friendly policies,” he suggested. He informed that Indian government has planned to expand railway facility in five bordering districts in Nepal. The railway link is expected to facilitate trade between the two countries, he added. The process of establishing Integrated Check Posts (ICPs) at three major customs points along the Nepal-India border has also started, he said.</div> <div> </div> <div> He urged Nepali private sector and the government to take Indian investors into confidence as there is high potential of Indian investment in Nepal. He emphasized on the bilateral cooperation for mutual benefit. </div> <div> </div> <div> Nepal should increase the volume of export to India to reduce the existing trade deficit with India, he suggested. “Nepal can export hydroelectricity to India which will help reduce the trade deficit.”</div> <div> </div> <div> The Birgunj Chamber of Commerce and Industry in association with Minds Nepal has organized the expo that is aimed at increasing international trade particularly with India and the SAARC countries. The 10-day exhibition has been displaying a wide range of products from Nepal, India and the SAARC region, the organizer said. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Nepal-India Border Summit </strong></span></div> <div> Nepal-India border summit concluded on Saturday (February 15) issuing a 15-point “Birgunj Declaration 2070”. Birgunj Chamber of Commerce and Industry had organized the summit with participation of parliamentarians from bordering districts. In the programme, six parliamentarians from Bara and Parsa districts of and two parliamentarians from India participated. </div> <div> </div> <table align="center" width="100"> <tbody> <tr> <td> <img alt="" src="/userfiles/images/1%20(Copy)(4).jpg" style="border-width: 0px; border-style: solid; width: 550px; height: 354px;" /></td> </tr> <tr> <td bgcolor="#DDDDDD"> <div align="center"> <div style="text-align: center;"> <strong>BiCCI’s immediate past president Ashok Temani (second from right) helping Indian Ambassador Ranjit Rae to unwrap the Greater Nepal CD for launching while FNCCI president Suraj Vaidhya (far left) looks on</strong></div> </div> </td> </tr> </tbody> </table> <div> </div> <table align="center" width="100"> <tbody> <tr> <td> <img alt="Crowd at the readymade garment stall." src="/userfiles/images/2%20(Copy)(4).jpg" style="border-width: 0px; border-style: solid; width: 550px; height: 354px;" /></td> </tr> <tr> <td bgcolor="#DDDDDD"> <div align="center"> <div style="text-align: center;"> <strong>Crowd at the readymade garment stall.</strong></div> </div> </td> </tr> </tbody> </table> <div> </div> <table align="center" width="100"> <tbody> <tr> <td> <img alt="BiCCI president Ashok Vaidhya " src="/userfiles/images/3%20(Copy)(4).jpg" style="border-width: 0px; border-style: solid; width: 550px; height: 179px;" /></td> </tr> <tr> <td bgcolor="#DDDDDD"> <div align="center"> <div style="text-align: center;"> <strong>BiCCI president Ashok Vaidhya (4th from the right) with participants of Nepal - India Border Summit</strong></div> </div> </td> </tr> </tbody> </table> <div> </div> <table align="center" width="100"> <tbody> <tr> <td> <img alt="Crowd at the electric equipment stall." src="/userfiles/images/4%20(Copy)(3).jpg" style="border-width: 0px; border-style: solid; width: 550px; height: 339px;" /></td> </tr> <tr> <td bgcolor="#DDDDDD"> <div align="center"> <div style="text-align: center;"> <strong>Crowd at the electric equipment stall.</strong></div> </div> </td> </tr> </tbody> </table> <div> </div>', 'published' => true, 'created' => '2014-02-17', 'modified' => '2014-02-23', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'A ten-day Nepal-India Trade Expo 2014 kicked off in Birgunj last Thursday (February 13). Indian ambassador to Nepal Rajit Rae inaugurated the expo amid a function organized at Aadarshanagar stadium in Birgunj.', 'sortorder' => '2493', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 5 => array( 'Article' => array( 'id' => '2639', 'article_category_id' => '211', 'title' => 'Shreenagar Agro Farm', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> </div> <div> <strong>--By Pinaki Roy</strong></div> <div> </div> <table align="right" style="margin: 0px 0px 0px 10px;" width="25"> <tbody> <tr> <td> <img alt="Satish Shrestha, MD, SAF" src="/userfiles/images/ss1%20(Copy)(1).jpg" style="border-width: 0px; border-style: solid; width: 200px; height: 183px;" /></td> </tr> <tr> <td bgcolor="#FFFFFF"> <div align="center"> <strong>Satish Shrestha</strong>, MD, SAF</div> </td> </tr> </tbody> </table> <div> An initial investment of Rs 1 million made in 2001 was the first step towards making Shreenagar Agro Farm (SAF) Pvt Ltd the big name it is – a company with an estimated current net worth between Rs 500–600 million. Satish Shrestha, the Managing Director of SAF, entered the livestock business in 2001 while still working with the Citibank. A BCom graduate from the prestigious Sydenham College of Commerce and Economics in then Bombay, he worked as Relationship Manager at the Kathmandu office of Citibank from 1997 to 2002. </div> <div> </div> <div> Gems Poultry, an integrated farm spread over 15 ropanis of land in Gongabu, Kathmandu was looking for a partner. Shrestha took the opportunity to become a partner in the farm that comprised of a fish pond, a small feed making facility and a commercial broiler unit. </div> <div> </div> <div> <span style="font-size: 16px;"><strong>Decision Time</strong></span></div> <div> In 2002, Citibank decided to close down its office in Kathmandu and offered Shrestha a job at its office in Bangalore, India. While he was still pondering over the chance to relocate, his partner at Gems Poultry offered him to take over the company entirely. It got him thinking but eventually he decided to stay back and buy out the company. He paid the agreed amount over a period of three years and also renamed the enterprise as Gems Agro Livestock Industries Pvt Ltd. Having dabbled the banking job and the livestock business simultaneously for a year and taking over the company in full later helped Shrestha launch his flagship company – Shreenagar Agro Farm – in due course of time.</div> <div> </div> <div> <span style="font-size: 16px;"><strong>The Company</strong></span></div> <div> Shreenagar Group comprises of three companies – Shreenagar Agro Farm Pvt Ltd, Sunaulo Agro Farm Pvt Ltd, and Gems Agro Livestock Industries Pvt Ltd. These companies have emerged as an agri-business conglomerate with activities ranging in Poultry Breeder Farming for broiler and layer, Hatchery for production of broiler and layer day-old-chicks, Feed Mill for production of mash and pellet feed for poultry & other livestock and Commercial Farming of broiler and layer as well as distribution of table eggs (regular and branded). </div> <div> </div> <div> SAF moved business to Butwal in 2006-07 due to space constraint in the capital, a result of massive urbanization, which was hindering the expansion of his industry. The company stands out due to its technological advancement, research, continuous investment, professionalism and adequate exposure when compared to its contemporaries in the domestic market. It employs 150 people at all its facilities put together.</div> <div> </div> <div> </div> <table align="center" width="100"> <tbody> <tr> <td> <img alt="Feed Mill of Shreenagar Agro Farm" src="/userfiles/images/ss2%20(Copy)(1).jpg" style="border-width: 0px; border-style: solid; width: 550px; height: 368px;" /></td> </tr> <tr> <td bgcolor="#DDDDDD"> <div align="center"> Feed Mill of Shreenagar Agro Farm</div> </td> </tr> </tbody> </table> <div> </div> <div> <span style="font-size: 16px;"><strong>Learning Curve</strong></span></div> <div> Shrestha makes regular visits to India for observing development in similar business areas. “I also visit Thailand often which is the heart of agri-business sector in this region,” he says. He also travels to Holland at regular intervals to update himself with technological advancements in the sector. He adds, “What has become obsolete in regions such as Europe is coming to our part of the world now.”While certain learnings are implemented immediately, some others are considered over a longer period of time, he says.</div> <div> </div> <div> Exposure to successful agri-business outlets abroad has taught the company to focus on bio security. It has ensured distance between its poultry units, cleaner environment, maintenance of hygiene protocols etc. Another important aspect is the placement of its various farms. For example, the growing flock is based in Butwal while the production flock is at Palpa. </div> <div> </div> <div> <span style="font-size: 16px;"><strong><img alt="golden Egg" src="/userfiles/images/ss3%20(Copy)(2).jpg" style="float: right; margin: 0px 0px 0px 10px; width: 160px; height: 197px;" />Golden Egg</strong></span></div> <div> Shrestha always knew there was a market for branded eggs in the country. “A cooking experience at my home kitchen sparked the idea of dating eggs to ensure fresh product for the consumers,” he informs. Around mid-2012, SAF launched ‘Golden Egg’ in containers that also mentioned the timeframe within which the eggs were required to be consumed. </div> <div> </div> <div> Golden Egg started with sales of 1,000 eggs per day which increased to 40,000 eggs per day in about a year-and-a-half’s time period. The company has now set a target to reach sales of 100,000 eggs per day by the end of 2014. Currently, Golden Egg is available in packs of 6, 12 and 30 eggs. The Golden Egg containers have the ‘best before’ dates on their covers and are sold via hundreds of retail outlets. </div> <div> </div> <div> <span style="font-size: 16px;"><strong>Sales Strategy</strong></span></div> <div> Having priced Golden Egg at a premium, SAF targeted consumers who were more likely to be quality conscious. Hence, the brand was introduced in department stores and various marts to begin with. The company is currently awaiting the results of a research on consumption trend of Golden Egg following which it will be selling branded eggs individually. The egg shells will be individually marked with Golden Egg stamp and available at the convenience stores and “kiraana pasals” as well. </div> <div> </div> <div> “Sourcing eggs from local farmers in various locations besides our own farm has multiple advantages,” says Shrestha. He adds that while the idea provides business opportunities to the farmers, it also saves him the expenses of opening and maintaining farms. SAF continues to get its supply of products from alternate locations even at times when a certain part of the country witnesses a problem. The company imparts trainings to enable farmers run their respective farms efficiently and adhere to quality standards set by the company.</div> <div> </div> <div> <span style="font-size: 16px;"><strong>Looking Ahead</strong></span></div> <div> Among its future plans, the company is continuously looking at integration efforts, reveals Shrestha. He hopes to reach fresh stores and ensure greater presence in retail over the next couple of years while also mulling over adding slaughtering and processing aspects of the livestock business. </div> <div> </div> <div> “We are also exploring the idea of launching retail outlets tentatively named Golden Fresh Mart which will have four components: poultry & meat products (includes eggs), dairy production, bakery products, and vegetables & fruits,” Shrestha says. He elaborates that the idea is to provide end consumers with an array of products under the same roof. He quickly adds though that it all depends on having like-minded partners who already hold an edge in their respective business segments. </div> <div> </div> <div> Shrestha always dreamt of running a volume based industry in a conventional manner and being able to make a difference. Success has come along the journey, he says and advises aspiring entrepreneurs to keep on striving and continue in believing one’s instincts.</div>', 'published' => true, 'created' => '2014-02-20', 'modified' => '2014-02-23', 'keywords' => 'new business age success story news & articles, success story news & articles from new business age nepal, success story headlines from nepal, current and latest success story news from nepal, economic news from nepal, nepali success story economic news and events, ongoing success story news of n', 'description' => 'Caught between a plum banking job and entrepreneurship, Satish Shrestha chose the latter. A little over a dozen years later, he has not looked back and is a successful businessman in the making. Notwithstanding all the hardships that he courted along the way, he is glad to have pursued his instincts and believed in his dreams.', 'sortorder' => '2492', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 6 => array( 'Article' => array( 'id' => '2588', 'article_category_id' => '169', 'title' => 'Handling People Why Employees Leave Organization?', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <div> <div> Every organization deals with employee turnover. It struggles to fill vacancy even when no new positions are created. People get offers from prestigious companies with better infrastructure, great salary, fair policies, good perks and excellent training opportunity; But instead of building career and settling for a longer period, some of them walk out within a year or two. But there is a pattern of people leaving. Gallup conducted a survey amongst a large population and came back with similar findings. Any organization, losing good people, should look at the Managers handling them. People join an organization but leave their bosses. </div> <div> </div> <div> Good superior is the reason why people stay and flourish in a company and a bad one can cause catastrophe with high turnover. When people cannot retort openly in anger, they do so by passive aggression, by digging their heels in and slowing down, by doing only what they are told to do without any added initiative, by omitting to give crucial information. If somebody is working for a person without any respect, then the soul is absent in the job. Finally, some instances of lack of empathy or downright rudeness and humiliation will compel them to go. Research suggests that employees find humiliation most intolerable. First time, a thought would have been planted. Second time, resolve gets strengthened. Third time, searches begin actively. </div> <div> </div> <div> Different managers can stress out employees in different ways - by being too controlling, too suspicious, too pushy, too critical or even too hands off. But they forget that people are not fixed assets, they are free agents. When this goes on for too long, an employee will quit, often over a trivial issue. </div> <div> </div> <div> In any decently sized organization, normally a pattern of bell curve exists with top 10% people performs outstandingly well and bottom 10% poorly. Organization may not suffer if bottom 10% goes. But the deadwoods mostly stay back and talents move. With that, years of knowledge and experience departs as well, sometimes straight to competition. Some Company handles this by weeding out bottom 10% and rewarding others handsomely. But, while doing so, they cast a pall of fear over their employees and destroy morale and innovative thinking. Some does not believe in firing and to manage, they reduce gap between top and bottom. This demotivates the top performer but does not improve the bottom either. </div> <div> </div> <div> So what should an organization do to prevent high attrition? To start with, a study can be initiated to understand the turnover pattern. Is it pointing out towards any department, grade, age group or manager? Then an employee satisfaction survey can be conducted to understand whether the employees are motivated or not and if not then what are the reasons? Slicing through profile is needed when the survey results are analyzed. A lot can be learned through simple questions like whether the employee has any friend in office or not, whether his boss shares organization goal and vision or not. Based on that, certain action agenda can be decided. </div> <div> </div> <div> It is important to make certain that every Job Profile is thoroughly laid out. I must know what I am supposed to do, what is the organization expects from me? I have seen cases where people react badly when they feel that what is expected from them were never clearly informed beforehand. They felt they were treated unfairly.</div> <div> </div> <div> Whether people are taking ownership of their team members or not is a critical factor. When the Boss very dispassionately disowns the blunder caused by his team and put the blame squarely on somebody’s shoulder, if one is not sure that his boss will stand by him in his hour of crisis then he will never stick his neck out. </div> <div> </div> <div> Organizations must balance their reward and punishment system. Even though the punishment should not mean that bottom 10% will lose their job but the reward for the top 10% should be sufficiently higher than others. People at all levels have to be suitably empowered to ensure ownership. To empower, one must analyze set of jobs each person is doing and what can be delegated down. The person to whom the job would be delegated can be identified by carrying out a SWOT analysis for each of the probable candidates. While doing so, we need to remember that each person has certain strength and if those strengths are played upon instead of harping on the improvement on weaknesses, the result can be positive and manifold. Post this, the person, identified for empowerment can be coached and trained to handle the extra work. He has to take responsibility and he would be held accountable. But, if he gets credit for successful execution and also possesses authority to tweak the system to achieve more, he will put in real good effort to excel. </div> <div> </div> <div> In a nutshell, there are certain steps any organization should take to handle attrition. </div> <div> 1.<span class="Apple-tab-span" style="white-space: pre;"> </span>Study turnover pattern – look for some weak areas which needs immediate attention </div> <div> 2.<span class="Apple-tab-span" style="white-space: pre;"> </span>Conduct internal survey to gauge employee satisfaction – create and implement action areas based on that </div> <div> 3.<span class="Apple-tab-span" style="white-space: pre;"> </span>Ensure appropriate job descriptions across all levels are created and informed to both employee and his superior without any ambiguity.</div> <div> 4.<span class="Apple-tab-span" style="white-space: pre;"> </span>Implement appropriate evaluation system and evaluation are to be done fairly and transparently. Employee ratings have to be properly informed to him</div> <div> 5.<span class="Apple-tab-span" style="white-space: pre;"> </span>Analyze training requirements and ensure people receive training as per their need </div> <div> 6.<span class="Apple-tab-span" style="white-space: pre;"> </span>Make sure people at all levels are suitably empowered and all required resources are provided to them to carry out their job</div> <div> 7.<span class="Apple-tab-span" style="white-space: pre;"> </span>Last – but most important – create a culture of Care and Nurture and ensure managers handling teams are tuned to this culture. They are the key to build teams. Every team leader must be taught the following; “No matter what, I will always treat all my team members the way I would like myself to be treated by my superior”</div> <div> </div> <div> But this culture takes years to build up. Management has to consciously practice this to achieve the intended goal. Employee is an important aspect of any organization that can either turn into an asset by delivering value or into a liability by becoming a burden. It is the responsibility of the organization to ensure that employees are groomed and properly utilized. For that, appropriate training must be given to managers who handle teams. They are to be trained to seek opportunity to show that they care for their team. A culture of care and empathy can be real game changer. As John wooden said – we must seek opportunity to show we care, the smallest gesture can make the biggest differences. </div> <div> </div> <div> <img alt="Buddha's Delight" src="/userfiles/images/bd1%20(Copy)(2).jpg" style="width: 550px; height: 299px; margin-left: 10px; margin-right: 10px;" /></div> </div> </div> <div> </div>', 'published' => true, 'created' => '2014-02-13', 'modified' => '2014-02-21', 'keywords' => 'new business age buddha’s delight news & articles, buddha’s delight news & articles from new business age nepal, buddha’s delight headlines from nepal, current and latest buddha’s delight news from nepal, economic news from nepal, nepali buddha’s delight economic news and events, ongoing buddha’s', 'description' => 'Different managers can stress out employees in different ways - by being too controlling, too suspicious, too pushy, too critical or even too hands off.', 'sortorder' => '2491', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 7 => array( 'Article' => array( 'id' => '2591', 'article_category_id' => '137', 'title' => 'Nepal Among Top 20 Fragile LDC ODA Recipients', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Sanjeev Sharma</strong></div> <div> </div> <div> Nepal is among the world’s top 20 fragile countries to receive official development assistance (ODA) from multilateral and bilateral donors, according to a new OECD report. The report entitled ‘Fragile States 2014: Domestic Revenue Mobilisation’ informs that Nepal received USD 892 million in ODA in 2011. The report prepared by OECD’s Development Assistance Committee (DAC) totalled the country’s net ODA atUSD 8.17 billion from 2000-2011. ODA per capita in Nepal was recorded at USD 29 in 2011.</div> <div> </div> <div> The report has characterised 51 countries (both LDCs and non-LDCs) as the fragile states that are unable to meet their population’s expectations or manage changes in expectations and capacity through the political process. According to OECD, ODA to fragile states declined to USD 53.40 billion in 2011 from record high of USD 67.35 billion in 2005. “Aid has declined by 2.4 per cent in 2011 and will continue its downward trend,” says the report.”Meanwhile, the share of the world’s poor found in fragile states is set to rise to a half by 2018.”</div> <div> </div> <div> These countries saw a total inflow of ODA at USD 547.19 billion from 2000-2011. Among 51 countries, Afghanistan was the highest recipient, receiving net ODA of USD 45.43 billion from 2000-2011. The war-ravaged country saw significant increase in foreign financial and technical assistance after the fall of Taliban regime in 2001. Pakistan also received note worthy amount of ODA over the last decade with USD 28.51 billion being allocated to it. Bangladesh and Sri Lanka, meanwhile, acknowledged net ODA of USD 19.76 billion and USD 9.02 billion respectively. OECD listed Afghanistan, Democratic Republic of Congo, Ethiopia, Pakistan and Kenya as the top five fragile ODA recipients in 2011. Similarly, the global economic body noted United States, European Union, International Development Association (IDA), United Kingdom and Japan as the top five ODA providers to fragile states in 2011. </div> <div> </div> <div> The report informed that Nepal received a net country programmable aid (CPA) of USD 10.25 billion from 2000-2013. Similarly, OECD’s outlook projected that the country will receive USD 3.08 billion in CPA during 2014-2016. However, aid inflow in Nepal is seen fluctuating as the country witnessed a 5 per cent decline in CPA in 2010-2011. In 2008-2009 Nepal observed a sharp rise in CPA by 32 per cent followed by a 1 per cent increase in 2009-2010.</div> <div> </div> <div> <span style="font-size:16px;"><strong>“Donors doing too little to strengthen domestic revenues in fragile states”</strong></span></div> <div> The report warns international donors that they are not doing enough to help fragile states increase their domestic revenue stating that only a tiny fraction of development aid goes into programmes aimed at improving tax collection. The report finds that just 0.07 per cent of ODA to fragile states is directed towards building accountable tax systems. “Donors pledged as far back as 2002 to make it a priority to help poor countries mobilise more domestic revenues. Yet fragile states still collect less than 14 per cent of their gross domestic product (GDP) in taxes on average, well below the 20 per cent level considered necessary to meet poverty goals,” states the report. </div> <div> </div> <div> According to the report, Afghanistan has received by far the most support in this area, notably from the International Development Association (IDA) for trade facilitation and from the US for public financial management. Haiti and Nepal remained next in line to receive this aid. “Haiti mainly benefitted from US technical assistancefor public financial management, while Korean aid inNepal helped modernise the customs system, and Germany and Denmark supported its revenue and tax administration,” says the report. </div>', 'published' => true, 'created' => '2014-02-17', 'modified' => '2014-02-21', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Nepal is among the world’s top 20 fragile countries to receive official development assistance (ODA) from multilateral and bilateral donors, according to a new OECD report. The report entitled ‘Fragile States 2014: Domestic Revenue Mobilisation’ informs that Nepal received USD 892 million in ODA in 2011.', 'sortorder' => '2490', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 8 => array( 'Article' => array( 'id' => '2617', 'article_category_id' => '201', 'title' => 'Prabal Gurung Takes Mustang To New York', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> It was a homecoming of sorts for designer Prabal Gurung, who drew inspiration from his homeland of Nepal for his fall 2014 collection that was presented Saturday during New York Fashion Week.</div> <div> </div> <div> Specifically, he was inspired by the remote Mustang region, where aspects of the local culture have remained unchanged since the 15th century. </div> <div> </div> <div> Prabal Gurung unveiled his fall/winter 2014 season in the cavernous recesses of New York’s Moynihan Station, watched by a packed house led by style queen Anna Wintour.</div> <div> </div> <div> Gurung, who formed his label in February 2009 after studying in India and New York, has dressed some of the world’s most famous women. He was born on March 31, 1979 in Singapore to Nepali parents and raised in Kathmandu. According to Gurung his new collection was a glimpse of his home.</div> <div> </div> <div> “I wanted to share with the rest of the world a little piece of me. It’s our fifth year now and, you know, show the world a glimpse of where I’m from,” he said. Effervescent and charming, dressed in jeans and a white T-shirt, the 34-year-old was delighted to show off a notice board backstage covered with pictures from his homeland. He travels back to Nepal once a year and loves to trek in the Himalayas, often just with a porter for company to recharge his batteries from the chaos of the jet-set life. </div> <div> </div> <div> Back in New York from such recent trip, he got further inspiration from oil paintings of friend British artist Cecily Brown, whose prints he also pointed out on the notice board. His show featured pashmina and anklets from Nepal, which were made in Italy, embroidered feathers from India, chiffon from Paris and sunglasses from London.</div>', 'published' => true, 'created' => '2014-02-18', 'modified' => '2014-02-23', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Award-winning designer Prabal Gurung unveiled his fall/winter 2014 season NY Fashion Week.', 'sortorder' => '2489', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 9 => array( 'Article' => array( 'id' => '2638', 'article_category_id' => '31', 'title' => 'In The Long Run, Ethics Pays', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <span style="font-size: 16px;"><strong>Prof C Panduranga Bhatta</strong> is a Professor of Business Ethics and Communication Group and Coordinator of Management Centre for Human Values at the Indian Institute of Management Calcutta (IIMC). He has been continuously involved in academic administration of the IIMC since 1999 and is the founder coordinator of Business Ethics and Communication Group. He was recently in Kathmandu for a conference on World Forum for Ethics in Business (WFEB). In an interview with New Business Age’s <strong>Angila Sharma</strong>, he discussed core principles of business ethics and its relevance in the present context. <strong>Excerpts:</strong></span></div> <div> </div> <div> <span style="font-size: 14px;"><strong>Generally business ethics and CSR are treated as synonymous. How to distinguish them?</strong></span></div> <div> Before the introduction of the term Corporate Social Responsibility (CSR), business ethics’ definition was limited to not doing corruption in business and was particularly limited to financial matters. But now, business ethics is defined and understood in a broader way and includes Corporate Social Responsibility also.So, I would like to say that CSR is one of the aspects of business ethics. As such, the business houses that are active in their CSR can be called ethical because they have realized that they have a duty to perform. </div> <div> </div> <div> Earlier, business houses would conduct business in an ethical manner but would not be concerned with things going around them. But, now, business houses cannot only be ethical in their business. They have to be aware about the things happening around them. The business houses should be concerned with the society because they make profit because of the ordinary people around them. So, CSR is a part of business ethics.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>The popular view including that of the government is that business ethics and profit making cannot go hand in hand. What is your opinion on this? </strong></span></div> <div> This is the biggest mistake people are making. We can take examples of corporations in the international arena that are making profit ethically. Ethics means taking care of the safety of the products; it means you don’t do any wrong to the customers through your products. Business ethics means that corporations allocate certain amount of their profit for the betterment of the people. So, the corporations, which are conducting business in an ethical manner, also earn profit.</div> <div> </div> <div> This issue can be looked upon in two ways. It depends on the business corporation whether it is looking at the short term or long term while starting a business.Short-term business means operating for a small period of time, earning profit in any manner and then shifting to a new place. We describe these kinds of businesses as ‘fly by night operators’. This type of activity is completely unethical and we do not consider these types of activities as business. We are talking about business corporations that are established to operate for a long period of time.Such business corporations do not limit themselves to stopping fraud and other corrupt activities, but widen their view to the entire society. Thus, in the long run, such business houses survive, make profit and they are considered as ethical business firms. In the long run, ethics pays.</div> <div> </div> <div> So, I don’t agree that business firms, which make profit, cannot be ethical.</div> <div> </div> <div> <span style="font-size: 16px;"><strong>In today’s competitive world, how can business houses gain comparative advantage through practicing business ethics?</strong></span></div> <div> Globalization can give you advantage as well as disadvantage. Firstly, if you are an ethical company, you will be welcomed everywhere. This is because of the reputation of the business house and reputation is built on ethics.If a business house has global ambition and wants comparative advantage, the business house has to build a brand first. Business houses have to take care of ethics firstly. For example: Infosys is a company that is present throughout the world. It is recognized and accepted everywhere because they have taken ethics as their main priority. They have a motto that says ‘Powered by Intellect; Driven by values’. They have been practicing it and people have been watching their loyalty towards their motto. If people are convinced, they will accept the company. This way the business houses can gain comparative advantage. Their ethics provide them the comparative advantage.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>What innovative methods are being practiced or developed to instil human values in the management of business organizations?</strong></span></div> <div> Human Values is a very comprehensive term. It includes the behaviour of the business houses towards its customers, employees, community and the environment. The business house has to be concerned about the environment and the community while practicing business. If the business house is not eco-friendly, it can affecthuman life and thus the business house is considered of not practicing human values.</div> <div> </div> <div> Business houses can instil human values in their practice through the development of caring attitude.Any business houses should consider human beings as their first priority. As a businessperson, relationship matters a lot. If business houses fail to maintain good relationship with the employees, customers and the community, it will fail. This way business houses can work for their betterment through respecting human values.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>How do you see the situation of business in South Asia?</strong></span></div> <div> The situation is picking up now because of globalization. People are exposed to the activities of business houses. Earlier, the situation was such that business houses would carry out their work in an unethical manner and to cover it up, they would do some charity and give donations. But, now, how any corporation makes business is noticed and reported. This is coming from the globalised context.</div> <div> </div> <div> Another thing that is improving the situation is the international ranking. Every business house wants to participate in the international ranking. For example: Transparency International ranking.The moment you perform corrupt activities or you compromise with the safety of the employees and customers, you are ranked in the top of the most corrupt company and the country. Earlier, companies were not concerned with the country’s image, but now, companies are tied up with the country. If the country does not have good image, nobody would want to do business in that country. Countries are the conglomerates of certain companies. So, the business houses are concerned with ethical issues because of the international ranking. This has helped in improving the situation of business ethics in South Asia and the rest of the world.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>What do you think makes an excellent leader?</strong></span></div> <div> There are so many aspects by which a person can become an excellent leader. Firstly, the person has to be sensitive towards the community and the people. Secondly, the person has to be creative and has to have a vision. The means and methods of achieving the vision is what matters the most. Any leader to be successful in the present context should have these qualities. Above all, it is very important that the leader is ethical because people will be watching the behaviour of the leader.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Marketing profession is derided as an example of unethical business practice. What is your suggestion to this professional field for overcoming this challenge?</strong></span></div> <div> In marketing, what matters the most is the product. Communication becomes very important while marketing. If you are giving false information to the consumers while selling the product, then, you lose reputation. What you are marketing and how you are marketing is very important. If you are advertising your product by giving false information, then that is a problem. If you are marketing a product that does no harm to the consumers, then it is not unethical.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>There is a school of thinkers who believe that ethics can’t be taught. How do you respond to this assertion?</strong></span></div> <div> This is nothing more than a myth. Teaching ethics directly to the students may not go well with the students. So, teaching business ethics should take another form. Rather, sensitizing people towards unethical acts can do no good. Teaching ethics in a direct way will be of little or no use. If ethics is incorporated in all the departments and activities, it can be useful. Awareness has to be created among people regarding ethics.</div>', 'published' => true, 'created' => '2014-02-20', 'modified' => '2014-02-21', 'keywords' => 'new business age business visitors news & articles, business visitors news & articles from new business age nepal, business visitors headlines from nepal, current and latest business visitors news from nepal, economic news from nepal, nepali business visitors economic news and events, ongoing busin', 'description' => 'Prof C Panduranga Bhatta is a Professor of Business Ethics and Communication Group and Coordinator of Management Centre for Human Values at the Indian Institute of Management Calcutta (IIMC). He has been continuously involved in academic administration of the IIMC since 1999 and is the founder coordinator of Business Ethics and Communication Group', 'sortorder' => '2488', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 10 => array( 'Article' => array( 'id' => '2644', 'article_category_id' => '170', 'title' => 'Evolve Or Ease Out Non-performing Employees', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong>--By Purna Man Shakya</strong></div> <div> </div> <div> A study shows that 60 per cent of a workforce includes average workers based on a 20-60-20-percent rule. Half of the remaining 40 per cent consists of top performers, and the other half includes poor performers. The poor performers can cause the most harm if employers don’t address their productivity problems. Employees who get away with underperforming create laziness in the workplace that hampers the productivity of others. So, in order not to retain non-performing employees three major steps should be taken.</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>Identify performers from the non-performers</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>Explore reasons of non-performance</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>Corrective actions and administering formal discipline</div> <div> </div> <div> <span style="font-size: 16px;"><strong>Identify performers from the non-performers</strong></span></div> <div> Generally saying performers make positive contributions in the achievement of both team and organizational goals and non-performers hardly make such contributions. So, identification of performers is the major strategic step towards non-retaining non-performing employees. Performers normally exhibit following behaviours: </div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>They are efficient in terms of communication, workloads handling, change management, managing personal and professional developments.</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>They prefer to work closely with co-workers and exhibit inspirational leadership. </div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>They are good at planning their own futures and also use the work they do with the employers to help them grow their ambitions. They are often mentors and trainers in the workplace because they thrive on helping others improve their productivity. They can determine what they must accomplish, set goals and organize themselves to achieve these goals efficiently. They also actively try to improve their performance, which means they actively find resources they need. It also means they tend to learn from their own mistakes. Usually they are better at self-direction.</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>They recognize that they are their own bosses and the employer is a consumer. </div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>They are fearless when it comes to doing what it takes to succeed. </div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>Performers also generate many of a company’s new ideas because they tend to look for ways to improve procedures to maximize their own productivity. </div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>They adhere to policies, procedures, and regulations </div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>They also participate in meetings and other activities for the meaningful outputs.</div> <div> </div> <div> Failing to comply with the above behaviours will qualify a person to be a non-performer.</div> <div> </div> <div> <span style="font-size: 16px;"><strong>Explore reasons of non-performance</strong></span></div> <div> Secondly we should explore reasons of non-performance. Reasons of non-performance can be discussed under four dimensions:</div> <div> </div> <div> <span style="font-size: 14px;"><strong>a. Employee</strong></span></div> <div> The employee may:</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>Lack requisite technical skills, public relation skills, and work ethics.</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>May be an acceptable performer but is unhappy and wants a different position.</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>Have an undisclosed learning disability or medical condition affecting performance</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>Have problems with authority: rejects idea that someone will judge their work</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>Have mental health challenges: depression, personality disorder, post-traumatic stress disorders, etc.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>b. Poor employee grooming by supervisor</strong></span></div> <div> Sometimes supervisors also contribute in grooming poor employees. An employee has the capacity to perform at a higher level but is not been given initial tools and direction to create an opportunity for success. The employees have different assumptions, about what is considered good performance by the supervisor. This situation is often created when supervisor fails to meet regularly with the employees. The supervisor is called as a poor communicator when an employee does not understand relative priorities of various tasks, does not know company policies or procedures and also does not understand what supervisor likes, wants or dislikes.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>c. Job</strong></span></div> <div> Sometimes the person is capable and knows what to do but the volume is just too high for one person to handle. Another issue is whether the employee has enough information and tools to complete their work in an optimum fashion or not. When unrelated or obviously different tasks are thrown together, it may be difficult to find the unique individual who is good at all of them. An example would be a position that requires high-level people relational skills and high-level scientific skills. Sometimes poor job design also contributes towards non-performance. Some of the potential job design issues are:</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>Job volume is based on extremely high performer and person is new</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>Job contains too many unrelated accountabilities</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>Quality standards are impossible to meet</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>The job qualifications used in recruitment don’t actually match what is required for the position.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>d. Workplace atmosphere</strong></span></div> <div> Most of us have experienced a toxic workplace environment in which good employees are so distracted by stress and drama that they cannot properly attend to job performance. Here are potential environmental issues that might be a source of non-performance.</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>The workplace atmosphere is excessively negative with toxic co-workers, bosses and power struggles. </div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>A powerful informal leader controlling activities.</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>Good people aren’t consistently praised/rewarded and so become disinterested.</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>Negative conduct is not redirected so that co-workers are stressed by co-worker’s abusive behaviour.</div> <div> </div> <div> <span style="font-size: 16px;"><strong>Corrective actions and administering formal discipline</strong></span></div> <div> Dealing with a non-performing staff member is one of the most difficult tasks one faces as a manager. Before taking actions all the options should be considered carefully. Formal discipline is one option, but this can be awkward and disruptive to the team, and may have legal implications. Formal discipline should be used only as a last resort tool when all else has failed. As per Labour Law of Nepal employees cannot be terminated on performance ground but can be terminated on the ground of misconduct. But due to employee union’s influence it is being hard to terminate employees even on misconduct ground. So, formal disciplinary action, such as formal warnings, suspension or termination should be exercised only when all other options are exhausted. If an organization does everything in its power to help a non-performing employee and still remains unsuccessful, it may have to resort to formal discipline. Four less-severe strategies are explained below. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>a. Counsel to correct poor behaviour or performance.</strong></span></div> <div> Counselling is a pre-planned informal discussion with a team member. The goal is to raise awareness that a problem exists and correct behaviour. During a counselling meeting, problem should be clearly stated; employee should be asked for his/her thoughts about the situation. There should be clarity on both sides on “what needs to be done differently now onwards along with clarity on action plan”. The counselling should end up with encouragement and should set up follow up meeting to discuss results.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>b. Confront inappropriate behaviour.</strong></span></div> <div> Confrontation is an unplanned response to an urgent need to intervene when an employee exhibits poor performance or behaviour. An example may be when a manager witnesses an action that compromises company safety regulations, policies, or procedures. </div> <div> Confrontation should: </div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>include observation, inquiry, and listening</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>acknowledge the effort and explain the concern</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>teach corrective action</div> <div> </div> <div> <span style="font-size: 14px;"><strong>c. Document both good and bad performance.</strong></span></div> <div> If the problem intensifies, employee’s performance and behaviour should be documented which will be useful while defending organization legally in future. Documentation should be fair, consistent, and objective. In addition, documentation should note corrective actions and results- good or bad. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>d. Measure performance.</strong></span></div> <div> Measurement of performance gives foundation for raises, promotions, and corrective actions. Without measurable performance objectives, organization gets open to all kinds of arguments. In the case of disciplinary action, the arguments may have legal implications. Organization must be able to demonstrate objectively the events leading up to disciplinary action. The evidence must speak for itself. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>e. Withdrawing responsibilities</strong></span>.</div> <div> This step should be taken as a tool to demotivate and harass non-performing staffs for encouraging him/her to take voluntary retirement.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>f. Administer formal discipline as a last resort.</strong></span></div> <div> If all else fails to bring compliance, organization must be prepared to enter into the disciplinary process. Discipline is a formal process with serious implications and can put organization in a position to defend itself legally. Generally there are three outcomes of the formal disciplinary process, and in two of the three possible outcomes, organization will lose the employee: </div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>The employee will live up to the expectations and successfully correct his or her behaviour or performance.</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>The employee will not live up to the expectations and will eventually be terminated.</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>The employee will resign outright.</div> <div> </div> <div> When taking formal disciplinary action company’s policy should be followed. Progressive disciplinary action may consist of first level warning, second level warning, stopping pay increment, suspension without pay and termination. At the same time upper management, human resources, legal counsel and any other parties with an interest in action should be consulted before taking such actions. Discipline must be applied consistently in all situations. It should be kept in mind that the organization acts in accordance with the country’s laws, any existing contracts and any collective bargaining agreement.</div> <div> </div> <div> The bottom line of termination is; it should be done with proper homework in order to provide safety to the organization and staffs.</div> <div style="text-align: right;"> <em>(Based on a discussion organised by Real Solutions, a Human Resource consulting firm recently)</em></div> <div> </div>', 'published' => true, 'created' => '2014-02-20', 'modified' => '2014-12-22', 'keywords' => 'new business age management gyan news & articles, management gyan news & articles from new business age nepal, management gyan headlines from nepal, current and latest management gyan news from nepal, economic news from nepal, nepali management gyan economic news and events, ongoing management gy', 'description' => 'Performers generate many of the company’s new ideas because they tend to look for ways to improve procedures to maximize their own productivity.', 'sortorder' => '2487', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 11 => array( 'Article' => array( 'id' => '2589', 'article_category_id' => '91', 'title' => 'Made In Nepal: Fantasy And Fact', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Siromani Dhungana</strong></div> <div> </div> <div> What does ‘Made in Nepal’ stand for? The Nepali products cannot get foothold in global market unless manufacturers cannot answer this question. Young entrepreneurs, Non-Resident Nepalis (NRNs), industrialists and even bureaucrats often talk about making Brand Nepal visible. It, however, has been more than evident that they have ignored or neglected bottlenecks to make the brand Nepal visible.</div> <div> </div> <div> “Nepali products lack competitiveness. High lending rate and unnecessary labour cost have resulted in higher production cost of Nepali products,” says economist Rameshore Khanal.</div> <div> </div> <div> Another crucial issue is quality. Economist Sujeev Shakya opines, “Made in Nepal tag should not be equivalent to substandard products. Quality is key issue and our products cannot get good reputation unless we can assure it.”</div> <div> </div> <div> Nepal could make its own identity in agro and herbs products if there would have been a lab that could assure quality, said Khanal. Developed countries give high priority to quality while importing agro products, he said. But Nepal lacks even a standard lab.</div> <div> </div> <div> Honey and other products could get market if we had been able to assure their quality.</div> <div> </div> <div> Some Nepali brands are finding markets in other countries. But the question is: are they commercialized? Generally, Nepali products are focused on niche segments that are too small, said young entrepreneur Sabda Gyawali.</div> <div> </div> <div> In fact, Made in Nepal products have still a long journey to go in terms of commercialization. It is harsh reality that foreigners do not buy Nepali products because of its commercial value but as a souvenir or showpiece or for aesthetic, Gyawali shared with The Corporate.</div> <div> </div> <div> Nepali manufacturer should be able to create unique selling point (USP) of their products, agreed Samir Thapa, president of Nepalese Young Entrepreneurs’ Forum that organizes Made in Nepal expo every year.</div> <div> </div> <div> Experts, however, point out that the current modalities of promotional activities are very effective. “It is quite ironical that we target Nepali Diaspora population even if we organize Made in Nepal expo abroad,” an economist told The Corporate.</div> <div> </div> <div> Nepali manufacturers’ failure to tap evolving market is another reason. Researcher and member of NYEF Manish Jha said that Nepali manufacturers have failed to identify their target market. Export to Europe and USA has been quite rhetorical, he said. “It is time to seek evolving market like South Asia which is more convenient to Nepali exporters.”</div> <div> </div> <div> It is important to emphasise here that we need to invest in various aspect including that of branding, marketing skills, technology and networking before ‘Made in Nepal’ tag gains recognition and respect in the global market.</div>', 'published' => true, 'created' => '2014-02-17', 'modified' => '2014-02-21', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'As Nepali entrepreneurs look to expand their footprint globally, many analysts believe that they still have a long way to go. Nepali products should maintain quality to make the tag ‘Made in Nepal’ an accepted one in the global market.', 'sortorder' => '2486', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 12 => array( 'Article' => array( 'id' => '2643', 'article_category_id' => '47', 'title' => 'A Twist Of Time', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> </div> <div> <strong>--By Sujan Tiwari</strong></div> <div> </div> <div> Binayak Shah, the President of European Economic Chamber Nepal, Vice President of Summit Group of Hotels and Resorts and Managing Director of Airport Hotel, had started his career from the young age of 17. Though deterred from business as a youth, he ultimately ended up where he was supposed to: in a mega scale business of hospitality and World Expos. Shah, who likes to call himself a development oriented businessman, says that making money is not his sheer aspiration. “I feel that I have to help my country through my business, only then it becomes fruitful,” says Shah.</div> <div> </div> <div> Shah started off as a journalist and used to work for Gorkhapatra and Radio Nepal. “I used to do reporting and proof reading for Gorkhapatra, and did news monitoring for Radio Nepal. That’s where I believe I started my career,” recalls Shah. </div> <div> </div> <div> Shah says he was always oriented towards business, since a very young age. His father never held a job; he was involved in trade and commercial agriculture and did jute and other plantations on a big scale. Unfortunately, a flood in Koshi once swept away all their land and plantation, sending his father deep in debt. His father was deeply shocked by the event, lost a lot of money and stopped doing business. His father also advised him to get a government job and keep away from business. </div> <div> </div> <div> <span style="font-size: 16px;"><strong>Early Life</strong></span></div> <div> Shah was born in 1953 in Durbar Marg of Kathmandu to Late Devendra Bahadur Shah and Gauri Shah. Shah was the eldest of three sisters and a brother. His house was in the same place where Hotel Annapurna is today. “I was born and brought up there till the age of ten. We had to sell our property owing to pressure from the Royal Palace back then as there were plans of establishing the hotel,” recalls Shah. Then the family moved to ancestral house in Gyaneshwor, and Shah still resides in the same place today. </div> <div> </div> <div> Shah did his schooling from Shanti Vidya Griha. He says he was admitted directly in Grade 5 as he used to take home tuitions prior to joining school. He completed his SLC from there, and did his IA from Mahendra Ratna College. He did his graduation from Trichandra College, and finished his Masters in Economic from TU. </div> <div> </div> <div> <span style="font-size: 16px;"><strong>Initiation</strong></span></div> <div> After completing his studies, Shah opted for government job. He joined the then Trade Promotion Centre and worked there for 16 years. He served there in various positions including Department Head and In-charge of International Marketing. During his tenure, he promoted Nepal and Nepali products like carpets, garments and handicrafts in Western European countries. He worked with various international development agencies like GTZ, International Trade Centre and others to promote Nepali products in Europe. “I participated in numerous international trade fairs and exhibitions back then,” says Shah. </div> <div> </div> <div> As a Thakuri, job in army or police was another prospect for him, but life had other plans for him. Thanks to his job in Trade Promotion centre, his orientation towards business grew even stronger. “Government jobs didn’t suit me well, there were lot of political interferences, still I held on for some time,” says he.</div> <div> </div> <div> During his 16 years government job, he made a lot of contacts and relations with international business community. Then he left the job in 1992, and with his initiation, Nepal German Chamber of Commerce and Industries was formed. Shah was the first CEO of the Chamber and he fostered the trade between Nepal and Germany during his tenure. “I formed Business Advisory Service program which was a result of cooperation between German Development Bank and Nepal German Chamber. The program helped numerous SMEs in upgrading their capacities in terms of export,” says Shah. </div> <div> </div> <div> <span style="font-size: 16px;"><strong>Later Years</strong></span></div> <div> Shah’s involvement in Trade Promotion Centre and Nepal German Chamber of Commerce and Industry made him ready to do business on his own. “I had assisted numerous businesses as Business Development Consultant. Later I thought that it was time for me to start something of my own,” says Shah. In the year 2000, he jumped into business and became a full time business person. </div> <div> </div> <div> Shah then started organizing mega-scale international fairs, events and exhibitions that promote Nepal and Nepali products. He specializes in constructing Nepali pavilions with life-size replicas of Nepali temples and structures illustrating art and architecture of Nepal in World Expositions around the globe. World Exposition is a huge public exhibition that is organized around the world by Bureau of international Exposition (BIE), Paris, of which Nepal is also a member. A total of 167 countries are member of BIE. </div> <div> </div> <div> </div> <table align="center" width="100"> <tbody> <tr> <td> <img alt="Nepal Pavillion at Expo 2010 Shanghai, designed, built and operated by IEG" src="/userfiles/images/prs2%20(Copy).jpg" style="border-width: 0px; border-style: solid; width: 550px; height: 368px;" /></td> </tr> <tr> <td bgcolor="#DDDDDD"> <div align="center"> Nepal Pavillion at Expo 2010 Shanghai, designed, built and operated by IEG</div> </td> </tr> </tbody> </table> <div> </div> <div> <span style="font-size: 16px;"><strong>Present Times</strong></span></div> <div> Shah participates in the World Expos through his company Implementing Export Group (IEG), where he is also the Director of International Marketing and Promotion. Shah has constructed various themed Nepali pavilions in World Expos in Germany, China, Japan, Australia, South Korea and other countries. His pavilions have been viewed by millions of people worldwide. “The participation in World Expos massively supports tourism, trade and goodwill of Nepal. We represent entire Nepal in a small scale in these Expos,” says Shah. The next World Expo is going to be held in Milan in 2015 with the theme ‘Feeding the Planet, Energy for Life’, and Shah is currently busy preparing for it. </div> <div> </div> <div> “The Expos do a lot of promotion of Nepal and supports Nepal in numerous ways,” says he. Shah, who recently turned 60, says that participating in these Expos required him to stay overseas for a long time. “Since travelling very frequently doesn’t suit me, I started looking after Airport Hotel as Managing Director,” says he. </div> <div> </div> <div> <span style="font-size: 16px;"><strong>Personal Side</strong></span></div> <div> Shah married Shanta Shah in 1979, and the couple has a son and a daughter Bishan and Ojaswi. Shah says he is busy on all days, and doesn’t usually take leave even on Saturdays. “When I am free, I get restless. I have to be working all the time and I like to keep myself occupied all the time. Free time makes you worry, and I try to avoid that,” says a workaholic Shah. </div> <div> </div> <div> Shah gets up at 5:30 in the morning and is always at his office at Airport Hotel at 8:30. He holds a meeting everyday among his staffs. “There are various departments, and all have to be coordinated for the smooth operation of Hotel. I coordinate between all the departments through the meeting every day,” explains Shah. According to him, maintaining good personal relation with the staffs is the key to make them more productive and motivate them. In the day, he looks after the tasks of Summit Group of Hotels and Resorts. Shah’s evenings are spent in socializing and get-togethers and parties. </div> <div> </div> <div> Shah used to play cricket when he was young, and also was the captain of his team in University. He still finds time to watch cricket on TV, and is a fan of Nepali cricket team. He also loves photography and travelling. “My business has allowed me to travel a lot. I have travelled Europe extensively, and many other countries around the world,” says he. </div> <div> </div> <table align="center" width="100"> <tbody> <tr> <td> <img alt="Shah with his family" src="/userfiles/images/prs1%20(Copy)(1).jpg" style="border-width: 0px; border-style: solid; width: 550px; height: 368px;" /></td> </tr> <tr> <td bgcolor="#DDDDDD"> <div align="center"> Shah with his family</div> </td> </tr> </tbody> </table> <div> </div> <div> <span style="font-size: 16px;"><strong>Word of Advice</strong></span></div> <div> “I am a self made man; I am where I am only because of me. I have no regrets, and I am happy,” says the contented man. In his words, time is the most crucial thing in one’s life, and it should never be wasted. “Time is the most important thing, it won’t wait for you and you won’t get it back. If you act on time, you can achieve a lot, if you miss it, it won’t come back for you,” says Shah. </div> <div> </div> <div> Shah believes that Nepal has come have a long way in a few years, but still a lot needs to be done. “All entrepreneurs and businessmen should think for the country and make long term plans. No one gets rich overnight,” says he. According to Shah, Nepal’s true potential is in numerous sectors, we Nepalis just have to be sincere towards our work. “Nepal cannot compete with India and China in manufacturing, but it is not the same scenario in herbs, tourism and hydropower. We should be able to capitalize our resources,” says Shah. Shah also believes that if we can commercialize agro-forestry, then we can feed the entire world. </div>', 'published' => true, 'created' => '2014-02-20', 'modified' => '2014-02-21', 'keywords' => 'new business age personality news & articles, personality news & articles from new business age nepal, personality headlines from nepal, current and latest personality news from nepal, economic news from nepal, nepali personality economic news and events, ongoing personality news of nepal', 'description' => 'Binayak Shah, the President of European Economic Chamber Nepal, Vice President of Summit Group of Hotels and Resorts and Managing Director of Airport Hotel, had started his career from the young age of 17. Though deterred from business as a youth, he ultimately ended up where he was supposed to:', 'sortorder' => '2484', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 13 => array( 'Article' => array( 'id' => '2640', 'article_category_id' => '79', 'title' => 'Nepal-Sri Lanka: The Half Century Bond', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> </div> <div> <strong>--By Upashana Neupane</strong></div> <div> </div> <div> <img alt="Sri Lanka" src="/userfiles/images/br5%20(Copy)(1).jpg" style="float: right; margin: 0px 0px 0px 10px; width: 300px; height: 452px;" />Diplomatic relations betweenNepal and the Democratic Socialist Republic of Sri Lanka established 57 years ago on 1st July 1957. Relations between the two countries are marked by goodwill, mutual understanding and cooperation. </div> <div> </div> <div> Nepal opened an Honorary Consulate General in Colombo in 1975 and established its embassy in 1995. Sri Lanka has a residential embassy in Kathmandu since 1993. Nepal and Sri Lanka are the founder members of the South Asian Association for Regional Cooperation (SAARC) and are also the members of another regional organization called Bay of Bengal Initiatives for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC). Both countries share similar views on many international issues and work closely in various international forums such as the UN, NAM, WTO, etc.</div> <div> </div> <div> <span style="font-size: 16px;"><strong>Trade and Commercial Relations</strong></span></div> <div> Nepal and Sri Lanka concluded bilateral trade agreement on 3 April 1979. Despite this agreement, trade between the two countries is not up to the desired level due to, among other things, higher cost of transportation, lack of conducive environment for business, lack of interests on the part of business people etc.</div> <div> </div> <div> <strong><span style="font-size: 16px;">Nepal’s Trade with Sri Lanka</span></strong></div> <div> Sri Lankas’ major exports to Nepal are cocoa and cocoa preparations, coffee, tea, spices, electrical machinery and equipment, parts of sound recorders and reproducers, television, cereal preparations, flour, starch or milk pastry cooking products, sugar and sugar confectionery, miscellaneous edible preparations, apparel articles and clothing accessories- knitted or crocheted , edible vegetables, certain roots and tubers and so on.</div> <div> </div> <div> Sri Lanka’s major imports from Nepal are grains (lentils). Other import items, though insignificant, are plastic articles, articles of wood charcoal , carpets and other floor coverings, art work, collectors' pieces and antiques, electrical machinery and equipment and parts of sound recorders and reproducers, television, printed books, newspapers, pictures and products related to the printing industry, manuscripts, raw hides, skins (other than fur skins), leather and so on.</div> <div> </div> <div> The trade figure for the past four years between Nepal and Sri Lanka has been as follows:</div> <div> </div> <div> <img alt="Nepal’s Trade with Sri Lanka" src="/userfiles/images/br1%20(Copy)(7).jpg" style="width: 550px; height: 408px; margin-left: 10px; margin-right: 10px;" /></div> <div> </div> <div> <span style="font-size: 16px;"><strong>Tourists from Sri Lanka</strong></span></div> <div> Lumbini is one of the holiest destinations to the Sri Lankan Buddhists. Sri Lankan government has been reiterating its support to Nepal’s efforts to further develop Lumbini as a City of World Peace. Sri Lanka has constructed rest house for Sri Lankan Buddhist pilgrims and a Monastery Complex in Lumbini. </div> <div> </div> <div> <img alt="Tourist Arrival to Nepal from Sri Lanka" src="/userfiles/images/br2%20(Copy)(4).jpg" style="width: 550px; height: 413px; margin-left: 10px; margin-right: 10px;" /></div> <div> </div> <div> <span style="font-size: 16px;"><strong>Air Services Agreement </strong></span></div> <div> With the aim to increase tourists flow from either country through direct air connectivity between Kathmandu and Colombo, Nepal and Sri Lanka had signed an Air Services Agreement (ASA) on 19 February 1977. On 23 November 2004, a new Memorandum of Understanding (MOU) was signed by both nations in Colombo for reviewing and replacing the previous agreement. The Air Service Agreement and additional MOU on increasing the air seats and providing fifth freedom rights to Sri Lankan airlines was agreed at the negotiations held during 22-24 January 2009, in Kathmandu. </div> <div> </div> <div> <img alt="TidBits" src="/userfiles/images/br3%20(Copy)(4).jpg" style="width: 550px; height: 342px; margin-left: 10px; margin-right: 10px;" /></div> <div> </div> <div> <span style="font-size: 16px;"><strong>Joint Venture </strong></span></div> <div> In the 1990’s the Sri Lankan Bank of Ceylon opened a joint venture bank in Nepal. However the Sri Lankan bank withdrew later due to what they call as unfavourable circumstances. Presently some commercial banks operate between the two countries. Commercial Bank of Ceylon, Sri Lanka and some of Nepal’s private sector bank have close links. In October, 2013 delegation of Commercial Bank of Ceylon, Sri Lanka visited Nepal. Nepal Sri Lanka Chamber of Commerce has been established for easing joint ventures and trade between both nations. Nepali investors have invested over $ 200 million in Sri Lanka’s hotel and leisure sector like the Hotel Taj Samundra and Grand Oriental Hotel. Binod Chaudhary of Chaudhary Group is planning to invest US $ 100m for setting up cement plant and some leisure projects in coastal area of Sri Lanka. </div> <div> </div> <div> <span style="font-size: 16px;"><strong>Joint Economic Commission</strong></span></div> <div> Nepal and Sri Lanka has signed an Agreement on March 2-4, 2009 to establish Joint Economic Commission to be led by the Foreign Ministers of both countries. The agreement contains provisions for cooperation in areas of trade, finance, agriculture, industry, development of infrastructure, science and technology, investment and other matters mutually agreed upon. The first meeting of JEC is to be held in Colombo.</div> <div> </div> <div> <span style="font-size: 16px;"><strong>Exchange of Visits</strong></span></div> <div> Exchange of high-level visits from both sides at various levels has contributed in elevating existing bilateral relations to new heights and have proved highly productive for creating an conducive atmosphere for upgrading mutual trade and commercial relations.</div> <div> </div> <div> <img alt="Highlights of Nepal- Sri Lanka Relation" src="/userfiles/images/br4%20(Copy)(1).jpg" style="width: 550px; height: 565px; margin-left: 10px; margin-right: 10px;" /></div> <div> </div> <div style="text-align: center;"> <hr /> <p> <strong style="font-size: 18px;">“We are entering into tourism cooperation with Nepal”</strong></p> </div> <div> <div> </div> <div> <table align="right" style="margin: 0px 0px 0px 10px;" width="25"> <tbody> <tr> <td> <img alt="W.M. Senevirathna, Ambassador of Sri Lanka to Nepal" src="/userfiles/images/br1a1%20(Copy).jpg" style="border-width: 0px; border-style: solid; width: 200px; height: 233px;" /></td> </tr> <tr> <td bgcolor="#FFFFFF"> <div align="center"> <div> <strong>W.M. Senevirathna</strong></div> <div> <em>Ambassador of Sri Lanka to Nepal</em></div> </div> </td> </tr> </tbody> </table> <div> <span style="font-size: 14px;"><strong>How is your experience in diplomatic career? </strong></span></div> <div> I have come to serve in Nepal, one of the world’s beautiful landmass filled with hospitable and friendly people. Sri Lanka and Nepal both have lot of similarities like culture, religion, food, friendliness and hospitability. I joined government service first as a graduate teacher in 1979 in Vidumina Piriven College, Kandy and joined the Sri Lanka Foreign Service as an Assistant Director at the Ministry of Foreign Affairs, Colombo in 1985. Since then, I have worked in ten Sri Lankan diplomatic missions including West Germany, Pakistan, Malaysia, Lebanon, USA, Canada, and Iraq. I have served as Sri Lankan ambassador to the Philippines, Israel and Nepal. </div> <div> </div> <div> Apart from this I have worked at the Ministry of External Affairs of Sri Lanka for a short period. I was the Vice Chairman (2006) and Chairman (2007) of the Governing Board of the Colombo Plan Staff College for Technician Education (CPSC) in Manila. I have represented Sri Lanka in various regional and international conferences such as South Asian Association for Regional Conferences [SAARC], World Bank, International Natural Rubber Organization [INRO] and Asian Regional Forum [ARF]. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>You have been in Nepal for nearly a year now. How are your impressions? </strong></span></div> <div> During this time I have met and interacted with Nepal’s senior government officials, politicians, diplomats, and businessmen and exchanged views at various levels. Within this one-year tenure, many high level delegations from Sri Lanka have visited Nepal, especially Lumbini. </div> <div> </div> <div> Nepal is such a beautiful country filled with lots of historical sites, mountains, and other natural resources. During my stay here, I have travelled to different parts of this country; Pokhara, Lumbini, Chitwan. I have trekked from Nagarkot to Dhulikhel and done rafting in Trishuli and Dolalghat. I have visited Chitlang and had an opportunity to interact with the friendly people of the village. I have also visited historical places such as Bhaktapur, Durbar Square that have masterpieces of skilful architecture, sculptures, and well-preserved ancient monuments that represent the living cultural heritage of Nepal. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>How do you evaluate the last elections and where do you see the country heading to next? How will the polls and the outcome affect regional peace and stability and Nepal’s relations with Sri Lanka?</strong></span></div> <div> The Constituent Assembly election held on 19th November 2013 was a new step towards the development of the country. The election was conducted in a very peaceful environment and was appreciated by local and foreign observers. Asian Network for Free Elections [ANFREL], Carter Foundations and other observers from different countries took part. The Nepali government had invited SAARC observers to visit and observe the election. Two delegations from the Sri Lankan Election Commission had observed the election. Out of the total 12.1 million population, 9.4 million people casted votes. It is a turnout of 78%, which is very high. As the election was a success, the constitution of Nepal can be finalized.</div> <div> </div> <div> As a representative of the Sri Lankan Government, we respect Nepali people’s mandate. Political stability will enhance peace and socio economic development of a country. Nepal Stock market Index NEPSE passed 700 points after the election. This reflected investors confidence in the government.</div> <div> </div> <div> Benefits of the election include inflow of Foreign Direct Investments [FDI] and representation in regional and international conferences, such as hosting the SAARC Summit in the coming year.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Despite signing bilateral trade agreement in 1979, business between the two nations is quite low, less than 2 billion NRs in the last financial year [exports and imports together]. Why still insignificant?</strong></span></div> <div> Trade between the two countries has remained at a low level. The Sri Lankan and the Nepali government have taken important steps in the economic and tourist sectors with an aim to increase the volume of bilateral trade, investment and tourism. Various issues have limited bilateral trade between both countries. Limitations include the high cost of transportation and lack of direct air connectivity. These limitations have limited the volume of import and export. Both countries produce and export the same crops and commodities. However, Sri Lanka imports carpets, woollen clothes and lentils from Nepal and exports cocoa, cocoa preparations, table and kitchenware, tea, gem and jewellery to Nepal</div> <div> </div> <div> <span style="font-size: 14px;"><strong>What specific measures do you suggest for enhancing the business relations and total value and volume of business between the two nations?</strong></span></div> <div> The total value and volume of trade between the two nations is not satisfactory due to the various reasons. Primarily we would like to have direct air connectivity and an exchange of business delegations to attend trade fairs. Recommending each other to attend trade fairs business forums in each other’s capital will help to interact and promote business.</div> <div> </div> <div> I am pleased to announce that the Chaudhary Group, Nimbus, Youth Entrepreneurs, and Sagarmatha Insurance have already taken steps in this regard. They have visited Sri Lanka and taken part in business forums to extend their business. Similarly, various Sri Lankan companies are taking part in Nepali trade fairs to expand their business here.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Arrival of Sri Lankan tourists to Nepal, especially to Lumbini, has crossed 75,000 a year. What trends and numbers you expect in near future? How can Nepal tourism be promoted in Sri Lanka?</strong></span></div> <div> As you are perhaps aware, 70% of the Sri Lankan population is Buddhists. Being Buddhist, they would like to see the birthplace of Prince Siddhartha, “Gautam Buddha” with the excavation at the Mayadevi Temple, Lumbini. Sri Lankan visitors are keen to visit Lumbini, Nepal and want to experience the beauty Nepal offers.</div> <div> </div> <div> We are in a process to enter into tourism cooperation agreement with the Nepali government so that it will be easy for Sri Lankan tourist to visit Lumbini.</div> <div> </div> <div> Through tailored tour packages to Lumbini and historical Buddhist places, Nepal can attract Sri Lankan and other nation tourists. More than 5000 Sri Lankan tourist visit to Kathmandu by air and I would like to inform that Sri Lanka Tourist are the number one travellers to Lumbini. If tour packages and facilities are provided, we hope to see the numbers exceed 1000,000.</div> <div> </div> <div> The Sri Lankan Embassy in Nepal with support of Sri Lanka Tourism Promotion Bureau is arranging a familiarization tour to Sri Lanka for Nepal Tour Operator Association in 2014. I think Nepal should prepare some awareness programme, for example tour packages and other facility to attract Sri Lanka tourists.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>What are the initiatives taken by Sri Lanka to upgrade tourism and facilities in Lumbini?</strong></span></div> <div> Sri Lanka and Nepal signed the Agreement on Cultural Cooperation in 1999,to expand their cultural relationship further. Sri Lanka has agreed to assist Nepal in heritage management and proposed to establish a course on Culture and Heritage Studies at a university in Nepal.</div> <div> </div> <div> Support has been extended for Nepali students to study Therawada Buddhismin Sri Lanka. Sri Lanka re-establishment of Therawada Buddhism in Nepal. In 1992 a pilgrims resting place, “Dutugemunu Pilgrim Rest,” was established for in Lumbini for the Sri Lankan devotees. This wasrenovated in 2012 to accommodate over 135 visitors. A bridge close to Lanka Ramaya temple at gate no. 4 of the Maya Devi Temple was constructed to making it easy for visiting the temple. Adding to, the road near the Sri Lankan Temple, which is shortest access to Mayadevi Temple, was widened. The Sri Lankan Government spent SLRS 90 million on all these projects to facilitate Sri Lankan tourists visit to Lumbini.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>There has been an air service agreement between the two nations for more than 25 years, which was upgraded recently as well. What is its status and what are the benefits of having fifth freedom rights for Sri Lankan airlines?</strong></span></div> <div> Bilateral Air Service Agreement was signed during H.E. the President’s last visit to Nepal in March 2009. Lack of direct air connectivity between the two countries is one of the major barriers in promoting trade.</div> <div> </div> <div> Code Sharing Basis will facilitate both Sri Lankan and Nepali airlines, to travel to each other’s countries. The fifth freedom right will enable Sri Lankan airlines to get passengers of other destination as well. Sri Lankan government would like to commence air connectivity in the near future and discussions in this regard are being held.</div> <div> </div> <div> Joint Economic Commission between the two nations was formed a few years earlier. What roadmap and outcome you see of the same in the next two years?</div> <div> We signed the MOU on Nepal – Sri Lanka Joint Commission in March 2009. Both countries have agreed to hold the first Joint Economic Commission meeting in Sri Lanka. We hope to conduct annual Joint Economic Commissions meet in each other’s capital.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Sri Lanka has a small population, history of civil war, and difficulties in its relations with neighbours, much like Nepal. What suggestions you have for the building of new Nepal, in light of the Sri Lankan nation-building and development experience? </strong></span></div> <div> Sri Lanka’s population is 21 million. There was no civil war in Sri Lanka but a terrorist war. Beginning on 23 July 1983, there was an insurgency against the government forces by the Liberation Tigers of Tamil Eelam [LTTE] which fought to create a separate and independent Tamil state called Tamil Eelam . 12% of the population demanded 2/3 of Coastal area and 1/3 of the total Area of the country. Government’s main policy was ‘One Country and One Nation’. After a 30 year military campaign, the Sri Lankan military defeated the Tamil Tigers in May 2009, ending the terrorist war. </div> <div> </div> <div> For over 30 years, this terrorist war caused significant hardships for the population, environment and the economy of the country. An estimated 40,000 people were killed during the war but Sri Lanka was able to sustain over 6% economic growth rate.</div> <div> </div> <div> During the conflict period, the Sri Lanka government was able to attract Foreign Direct Investment that prioritized infrastructure development. For nation building, President of Sri Lanka requested all political parties to join hands with the government to overcome national problems. This succeeded in 2009. All political parties supported the government for boosting national economy by forgetting their political differences. As a result, Sri Lanka has positive indicators. </div> <div> </div> <div> I wish the newly elected member of the Constituent Assembly of Nepal could get together and join hands for the formation of a stable government and serve the people of this beautiful country.</div> </div> </div> <p> </p>', 'published' => true, 'created' => '2014-02-20', 'modified' => '2014-02-20', 'keywords' => 'new business age bilateral relations news & articles, bilateral relations news & articles from new business age nepal, bilateral relations headlines from nepal, current and latest bilateral relations news from nepal, economic news from nepal, nepali bilateral relations economic news and events, o', 'description' => 'Diplomatic relations between Nepal and the Democratic Socialist Republic of Sri Lanka established 57 years ago on 1st of July, 1957. Both the Countries are bound by warm and friendly economic, cultural and political relations.', 'sortorder' => '2483', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 14 => array( 'Article' => array( 'id' => '2642', 'article_category_id' => '80', 'title' => 'Degrading Higher Education System', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <div> <strong>--By Narayan Prasad Paudel</strong></div> <div> </div> <div> Higher education in Nepal has drawn massive attention and concern from various communities across the nation. If higher education system of the country is reliable, quality conscious, functional and market and need driven, it ultimately serves the greater need of the aspirant youth of the country in materializing their dreams with upgraded level of skill sets that correspond to the rising market potentiality. Nepali youths are facing many problems due to the substandard quality of education provided by most of the education institutions. The focus of education in Nepal is mass-and money-driven, rather than quality - and outcome - driven. Due to serious limitations and lack of focus on the employability of its products, Nepal’s education system is more or less, except for a few exceptions, unable to create hope and happiness across the larger segment of the Nepali society.</div> <div> </div> <div> <span style="font-size: 16px;"><strong>Universities and their focus </strong></span></div> <div> As of today, Nepal has nine different universities (TU, KU, Pokhara, Purbanchal, Sanskrit, Buddhist, Agriculture, Mid Western and Far Western ) providing higher education. Among these, the oldest and the biggest is Tribhuvan University (TU), established in 1959 by the government, is providing higher education to more than 450,000 students.</div> <div> </div> <div> Sanskrit University, established in December 1986, operates from its central office in Dang district. Kathmandu University (KU), established in 1991, is providing higher education to 4,000 students in its own constituent campuses and 7,500 students from its affiliated colleges.</div> <div> </div> <div> Pokhara University, established in 1997 as Nepal's fifth University, has provided higher education to more than 25,000 students through its affiliated campuses. Purbanchal University established in 1993, operates from its head office in Biratnagar. Along with these two regional universities, Mid Western and Far Western Universities provide higher education in their respective development regions. </div> <div> </div> <div> Besides them, the Agriculture and Forestry University (AFU) and the Lumbini Buddha University (LBU) are other two universities established in Nepal.</div> <div> </div> <div> <span style="font-size: 16px;"><strong>Current Scenario</strong></span></div> <div> All these universities claim of having good curriculum structure, academic infrastructure and suitable academic environment. Though most of them claim of contributing their best to higher education in Nepal, in reality the scenario is not exactly the same as stated in their documents. </div> <div> </div> <div> <span style="font-size: 16px;"><strong>Curriculum and focus of Faculties </strong></span></div> <div> Talking about the structure of academic curriculum of these universities, except in few cases, there are plenty of shortcomings. This includes repetition of the same courses at different level of academic programmes. </div> <div> </div> <div> Most courses of many of these universities, developed long back, are still in use without timely adjustment to make them, in line with other foreign universities. Most of the courses, are less market - and need driven and more theory oriented that overweight practical courses. </div> <div> </div> <div> Hotchpotch design of the curriculum that ignore the substance and relevance of the subject matter are some of the apparent weaknesses of the curriculum structure in different Universities in Nepal. </div> <div> </div> <div> However, few of the academic programmes e.g. Institute of Medicine, Institute of Engineering and few of the MBA programmes in the country have been able to blend all the necessary requirement in their curriculum and hence are able to attract and motivate national as well international students.</div> <div> </div> <div> Irresponsible academicians are also huge problems in Nepal. For example, some university professors do not entirely contribute time and energy to their own academic institutions as committed by them and as mentioned in their terms of reference (TOR). This trend has resulted in the creation of many helmet professors, unprofessional consultants and development activists, at the cost of academic professional values. </div> <div> </div> <div> <span style="font-size: 16px;"><strong>Politics in the Universities</strong></span></div> <div> Many academicians forget their own status and keep in frequent touch with political activist and leaders. They think that they would be rewarded by being appointed for attractive academic and non-academic moneymaking and to so called higher ladder positions in different institutions like vice chancellors, registrars, deans, campus chiefs, advisors, ambassador etc. This greed of the academic community has ultimately exploited themselves as they lose their most productive time in unproductive appointments. </div> <div> </div> <div> We all know that all our universities are ultimately governed by the government. Using the power of governance the Prime Minister (Chancellor) appoints senior leaders of the universities (e.g. Vice Chancellors)on the basis of the prospective candidate’s inclination towards a particular political ideology and the volume of financial contribution that the candidate can make to the political party that the Prime Minister belongs to. Ultimately, the nearer and the dearer of the Prime Minister get appointed to the prestigious position of the vice chancellors. If we examine, the history, except in a few cases, most of the university leaders have attempted to make such appointees happy with exhibiting extra loyalty towards them. </div> <div> </div> <div> As a result the rest of the leaders of the universities including the registrar, dean, department head, campus chiefs are appointed on the basis of instructions given by political leaders and government authority. They start polluting the institution by hiring faculties on contract by not announcing vacancy through public notice. These rampant contract appointments are made at different layers of the academia on the basis of personal relations and by ignoring the competent public masses that could have been selected, if the selections were made through competitive process. And these are ultimately given permanent position as well. </div> <div> </div> <div> Consequently prospective and qualified teaching professionals are denied the opportunity to teach while incompetent faculties appointed against the principles of good governance and with sub standard quality, provide sub-standard education and affect entire performance of the university. This practice, rampant and prevalent in every academic institutions and universities in Nepal, has caused continuous loss of confidence on these institutions. </div> <div> </div> <div> <span style="font-size: 16px;"><strong>Influence of Student Unions </strong></span></div> <div> Irresponsible activities of the student unions in most of the universities have also resulted in the delivery of sub standard quality and performance of academic programmes. In most cases student union leaders force innocent students to participate in their political activities. Based on instructions provided by the union leaders, students forgo their regular learning activities, involve in activities of political parties and lose their productive time and resources. Otherwise, they would have devoted that time to build their learning ability and gained skills expected by their prospective employers and thereby build basis to lead their dream life. </div> <div> </div> <div> <span style="font-size: 16px;"><strong>The way forward </strong></span></div> <div> Neither political leaders nor government institutions are responsible, nor the academic communities, teachers and students at large, are honestly eager to maintain and upgrade the integrity of the national academia. We are losing our face in the international academic community. Substandard outcome of these programmes has ultimately resulted into greater un-employability, which has led to anxiety, frustration, and depression among the youth and forced them to migrate abroad for employment in menial jobs. </div> <div> What would be the panacea for the aforesaid problems? The ultimate answer is commitment, dedication, and greater focus on responsibility and accountability, from all stakeholders. This would ultimately refine prevailing degrading professional practices rampant in our education system. We all need to improve ourselves, firstly be removing unwanted greed for money and power and secondly by uplifting our professional competencies and qualities through lifelong learning. Faculties need to focus on training, exposure activities, research and publications that would positively contribute to the overall performance of entire community. Society should play greater role to correct the unwanted behaviour of concerned authorities through constant review of an institution’s performance and activities. Government should build highest level of integrity and morale. Government leaders should be free from the unnecessary greed for power and resources. </div> <div> </div> <div> The crux of the problem is our political system, which needs to be overhauled. All political leaders need to frame their role model behaviour and should attempt to exhibit and practice in real life. They should hesitate to infiltrate pure academic environment with party politics, otherwise they would be entirely held accountable for the degrading academic performance. We can refine the political machinery of the nation, if we all have strong commitment to uplift academic height in line with developed countries. The principle of sacrifice and contribution should be embedded in the performance of both political and academic leaders.</div> <div> </div> <div> <em>(Narayan Prasad Paudel, Ph.D, is Assistant Professor, Kathmandu University School of Management. Email: narayan@kusom.edu.np.)</em></div> </div> <div> </div>', 'published' => true, 'created' => '2014-02-20', 'modified' => '2014-02-20', 'keywords' => 'new business age business education news & articles, business education news & articles from new business age nepal, business education headlines from nepal, current and latest business education news from nepal, economic news from nepal, nepali business education economic news and events, ongoing', 'description' => 'The focus of education in Nepal is mass and money driven, rather than quality and outcome driven.', 'sortorder' => '2482', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '2652', 'article_category_id' => '109', 'title' => 'Technical Analysis Of Nepse', 'sub_title' => '', 'summary' => null, 'content' => '<div class="news_detail"> <p> <strong>Market Trend</strong><br /> Nepse continued its bullish rally last week gaining 19.57 points or 2.44% over the four trading periods. The majority of the gains came from the last two trading days (Tuesday and Thursday) where the market rallied by 18.94 points. The substantial rise in Nepse over the past few trading days has caused it to move past its strong resistance level of 806.82 points indicating a strong bullish scenario for the stock market. Nepse is currently well above its 5-year high with numerous stocks becoming very expensive.<br /> <br /> If political climate remains fairly positive along with good financial results from companies, the market may see further upside in the days to come.<br /> <br /> <strong>RSI</strong><br /> RSI is a form of leading indicator that is believed to be most effective during periods of sideways movement. Such indicators may create numerous buy and sell signals that are useful when the market is not clearly trending upwards or downwards. On February 03, 2014, the RSI indicator settled lower at 51.37. Since then, RSI has been gradually creeping upwards. This has caused RSI to move back into the overbought zone. By the end of the last Thursday, the RSI stood at 73.30 levels.<br /> <br /> <strong>MACD</strong><br /> The MACD indicator, which has been witnessing a declining trend since the third week of January 2014, finally crossed above the signal line on Tuesday.<br /> <br /> When a MACD line crosses above the signal line, it is considered to be a positive sign and indicates a time to buy. The MACD line and Signal line increased from 10.60 and 10.80 points in the previous week to 12.87 and 11.35 points respectively. This suggests that the near term moving average is moving upward with a greater momentum while the longer term moving average is gradually shaping upwards.<br /> <br /> <strong>On Balance Volume (OBV)</strong><br /> OBV is a momentum indicator that relates volume to the current price of index or security. During January 19 to February 13 2014, the OBV indicator formed a resistance level in terms of volume of shares traded. In the past week, the indicator moved past its resistance level signaling a positive.</p> <p> <strong>Market Summary<br /> (16 February to 20, 2014)<br /> Close: 822.67<br /> High: 822.67<br /> Weekly Change: 19.57 points<br /> (2.44%)<br /> Daily Average Turnover:<br /> NPR 278.29 Million<br /> Total Weekly Turnover:<br /> NPR 1.11 Billion<br /> Immediate Support: 806.82<br /> Immediate Resistance:<br /> 847.86<br /> RSI: 73.30<br /> MACD Line: 12.87<br /> Signal Line: 11.35</strong><br /> </p> </div> <p> </p>', 'published' => true, 'created' => '2014-02-23', 'modified' => '2014-02-23', 'keywords' => 'money matters of nepal', 'description' => 'money matters of nepal', 'sortorder' => '2497', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 1 => array( 'Article' => array( 'id' => '2647', 'article_category_id' => '156', 'title' => 'Why Executives Are Getting Older And Older', 'sub_title' => '', 'summary' => null, 'content' => '<p> <strong>By Rachel Feintzeig</strong></p> <p> Is your boss a little grayer than you expected? Blame the recession.<br /> <br /> New research from the University of Pennsylvania’s Wharton School and Madrid’s IE Business School has found that the age of executives is on the rise, as is the time spent in their roles—lingering effects of a financial crisis that eroded career growth at the highest levels of the corporate ladder.<br /> <br /> For decades, executives bounced around from company to company, taking ever less time to climb to the top. But that was before the recession hit. In recent years, even top corporate leaders saw their paths stalled, says Peter Cappelli, one of the study’s authors and a Wharton management professor.<br /> <br /> One problem is that the oldest generation of executives delayed their retirement post-2008, prohibiting the next employees in line from taking their seats. When companies did have vacancies, they found it difficult to lure fresh talent from the outside: workers were afraid to make changes amid the economic uncertainty.<br /> <br /> Cappelli and the IE’s Rocio Bonet and Monika Hamori analyzed biographies of the top ten leaders of all FortuneFT.T 0.00% 100 companies dating back to 1980. The first stage of their study analyzed executives through 2001, and a recent update brought the research up to 2011.<br /> <br /> Cappelli predicts executives will start to move around more by 2015, even if the economy isn’t booming by then.<br /> <br /> “People wear out their welcome,” he said, “and even the people who are welcome don’t want to stay any longer.”<br /> <br /> Once a few executives start playing musical chairs, change will be swift and widespread, he added, with the trajectory once again pointing toward “sharply declining tenure” at organizations.<br /> <br /> The study, published in the Harvard Business Review, also found that the corner office has gotten more diverse over the last decade and that there are more female and foreign-born leaders. For example, 18% of the executives studied in 2011 were female, as compared to 11% in 2001 and 0% in 1980. The rate of foreign executives rose from 2% in 1980 to 11% in 2011. But those trends come with caveats.<br /> <br /> Companies with foreign executives in their top ranks are “disproportionately” based on the East and West Coasts, according to the study. Women rise to top jobs fast, according to Cappelli, but they seem to be on a different track than men, most often moving up in the marketing or human resources divisions of their companies rather than the operational side. And not all executive jobs are created equal, Cappelli said. A marketing or human resources executive has little chance of becoming CEO – General Motors’ Mary Barra not included.<br /> <br /> The data also highlights sharp disparities between career trajectories at firms. At some businesses, like Chevron Corp.CVX -1.68% and United Parcel Service of North America Inc., leaders stick around; 90% of the top leaders at those companies have been there their entire career. Other firms see more of a revolving door in the executive suite; Sears Roebuck & Co.’s average 2011 executive had only three years there. The variation between companies has to do with the stability of the company’s product, how quickly their operating model is changing and how their boards react to that change, Cappelli said.<br /> <br /> The variation “does reflect very different notions and … understandings of how you succeed in business,” Cappelli said. “The idea that there was a corporate model really seems to be blown up. Now there’s several corporate models.”</p>', 'published' => true, 'created' => '2014-02-23', 'modified' => '2014-03-03', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Is your boss a little grayer than you expected? Blame the recession. New research from the University of Pennsylvania’s Wharton School and Madrid’s IE Business School has found that the age of executives is on the rise, as is the time spent in their roles—lingering effects of a financial crisis that eroded career growth at the highest levels of the corporate ladder.', 'sortorder' => '2496', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 2 => array( 'Article' => array( 'id' => '2646', 'article_category_id' => '153', 'title' => 'Nepali Tea: Tea from the High Lands', 'sub_title' => '', 'summary' => null, 'content' => '<p> </p> <p> Nepal has a long history of tea cultivation, initiated with the establishment of Ilam Tea Estate in the hills of Ilam district in 1863 and Soktim Tea Estate in the plains. It is believed that tea plantation in Nepal started within the same decade, when it was introduced in the hills of Darjeeling, India.</p> <p> First private sector tea plantation in Terai was established in 1959 under the name of Bhudhakaran Tea Estate. Government joined the sector in 1966 with the establishment of Nepal Tea Development Corporation. After considering the potential for tea farming in the eastern development region, in 1982 five districts of the region i.e. Jhapa, Ilam, Panchthar, Terhathum and Dhankuta were declared ‘Tea Zone’. However now days Tea is also cultivated in few other districts.<br /> <br /> Nepal Tea and Coffee Development Board says that promotional activities to promote Nepali tea in the international market are inadequate even though it is listed as a priority in the Nepal Trade Integration Strategy (NTIS) 2010. This list includes the 19 Nepali products that have export potential. “The government should be more concerned about its promotion in the international market so that it receives better market value and positioning in the international market,” states the board.</p> <p> <img alt="Tea Plantation & Production" src="/userfiles/images/f3%20(Copy).jpg" style="width: 550px; height: 225px; margin-left: 10px; margin-right: 10px;" /></p> <p> The 2011 – 12 statistics states that the tea plantations which covers the area of 18149 hectares of land across the nation annually produces 18.3 million kgs of Tea and provides direct employment to 100 thousand people. Private sector actors in the industry comprise of small farmer as well big corporate houses that have large tea estates with tea processing factories and marketing mechanism.</p> <p> <img alt="Tea Plantation and Production in Nepal" src="/userfiles/images/f1%20(Copy).jpg" style="width: 550px; height: 237px; margin-left: 10px; margin-right: 10px;" /></p> <p> There are 140 registered tea estates and 40 tea processing factories that produce 85 per cent of the nation’s production volume.Some of these factories do not have their own tea estate. They process tea produced by small and medium tea farmers. This type of small holding tea estate farming is anticipated to flourish in the days ahead.</p> <p> <img alt="Orthodox and CTC TEa Plantation" src="/userfiles/images/f2%20(Copy).jpg" style="width: 550px; height: 174px; margin-left: 10px; margin-right: 10px;" /><br /> <span style="font-size:14px;"><strong>Packaging Industry</strong></span><br /> There are two types of tea packaging industries operating in Nepal. First of these are the ones operated large scale tea producers who have their own tea estates and use the facility to package their products exclusively. Another type of factories buy tea products from national and international producers and package it at their own facility.<br /> <br /> <span style="font-size:14px;"><strong>Forecasts</strong></span><br /> Presently Tea plantation is dominated by small holders. Future target is set to extend plantation to 40 thousand hectares with an expected harvest of 46 million kg of tea annually whose worth is estimated to be around 247 million dollars. This will generate employment for 102 thousand people in rural areas and is expected to boost up the rural economy, states the Nepal Tea and Coffee Development Board.<br /> <br /> <span style="font-size:14px;"><strong><img alt="Nepal TEa" src="/userfiles/images/f4%20(Copy).jpg" style="float: right; margin: 0px 0px 0px 10px;width: 100px; height: 110px;" />Branding Efforts</strong></span><br /> National Tea and Coffee Development Board has developed a logo in accordance to the provision of the National Tea Policy 2000 to introduce N e p a l Tea in the domestic and international market and create its niche. Half circle green background embedded by double red circle of this national tea logo indicates the eco-friendly environment of the tea garden; where a tea twig having two leaves and a bud flourish. Along with that the smiling and shining southern face of the Mt. Everest placed in the upper half portion of this logo signifies as the tea produced in the land of Himalayas. Two words “NEPAL TEA” placed within the diameter of the logo circle establish unfailingly as a brand that symbolizes – “A symbol of quality from the top of the world.”</p>', 'published' => true, 'created' => '2014-02-23', 'modified' => '2014-03-03', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'There are 140 Registered Tea Estate which contribute 85 per cent of the National’s production volume. Nepal has 40 Tea processing factories in private sectors.', 'sortorder' => '2495', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 3 => array( 'Article' => array( 'id' => '2645', 'article_category_id' => '91', 'title' => 'Govt Seeks ‘Formula’ To Reduce Trade Deficit', 'sub_title' => '', 'summary' => null, 'content' => '<table cellpadding="0" cellspacing="0" height="18" hspace="0" vspace="0" width="192"> <tbody> <tr> <td align="left"> <p> <strong>By TC Correspondent</strong></p> </td> </tr> </tbody> </table> <div style="clear: both;"> Alarmed by a whopping trade-deficit, the government is all set to form a separate high-level taskforce, which will identify possible solution to reduce the existing trade deficit.</div> <p> The trade imbalance has now become a serious problem as the country’s trade deficit continues widening year on year, said secretary at the Office of the Prime Minister, Krishna Hari Baskota. “The government is serious to increase promotional activities for Nepal’s products in the international market for reducing the<br /> trade deficit.”</p> <p> According to Nepal Rastra Bank (NRB), the nation’s trade deficit with India has reached Rs 190.95 billion, out of the overall trade deficit of Rs 288.76 billion in the first half of the current fiscal year.</p> <p> Trade deficit has a multiple effects since it drains money from the country’s economy, Banskota said, adding that remittance inflow has become crucial in maintaining Balance of Payment (BoP) of the country. It is not good for country’s financial health to rely on remittance inflow forever, he opined. According to the central bank, the country witnessed a total of Rs 266 billion remittance inflow in the first half of the current fiscal year.</p> <p> Coordination among various stakeholders is a must to reduce hassles in trade, he said. The coordination among various stakeholders has not been materialised so far, he informed. It is time that policymakers and businesses made concerted and coordinated attempts to tackle country’s trade imbalances before we are faced with serious crisis, he further said, adding that it is also the right time to address the issue as the country is all set to get a moderate and liberal government led by parties which embrace liberal economy policy.</p> <p> Elaborating further Banskota pointed that the ‘one stop services’ to promote export promotion has been limited to papers. “We need to seriously implement all provisions which the government has introduced with aim of facilitating trade activities,” he said. He blamed the private sector for being hell bent on collecting service charge rather than contributing to trade facilitation. It is not necessary to issue both Generalize System of Preference (GSP) and Certificate of Origin (CO) for the products. But, this hassle has not been removed, as private sector does not want to lower their profit, which they have been collecting while issuing these two certificates, he blamed.</p> <p> <span style="font-size:14px;"><strong>Govt’s Mantra to Reduce Trade Deficit</strong></span></p> <p> • Establishment of herbs collection and processing centres<br /> • Upgradation of labs<br /> • Verification of organic products<br /> • Acquiring collective trademark<br /> • Government’s assistance in acquiring trademarks<br /> • Increased participation in global trade fairs<br /> • Effective implementation of Nepal Trade Integration Strategy 2010</p>', 'published' => true, 'created' => '2014-02-23', 'modified' => '2014-02-24', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Alarmed by a whopping trade-deficit, the government is all set to form a separate high-level taskforce, which will identify possible solution to reduce the existing trade deficit.', 'sortorder' => '2494', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 4 => array( 'Article' => array( 'id' => '2590', 'article_category_id' => '91', 'title' => 'Nepal-India Trade Expo In Birgunj', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By TC Correspondent </strong></div> <div> </div> <div> A ten-day Nepal-India Trade Expo 2014 kicked off in Birgunj last Thursday (February 13). Indian ambassador to Nepal Rajit Rae inaugurated the expo amid a function organized at Aadarshanagar stadium in Birgunj. </div> <div> </div> <div> Ambassador Rae underlined the need for infrastructure development to attract more foreign investment to Nepal. </div> <div> </div> <div> “Nepal needs to implement investment friendly policies,” he suggested. He informed that Indian government has planned to expand railway facility in five bordering districts in Nepal. The railway link is expected to facilitate trade between the two countries, he added. The process of establishing Integrated Check Posts (ICPs) at three major customs points along the Nepal-India border has also started, he said.</div> <div> </div> <div> He urged Nepali private sector and the government to take Indian investors into confidence as there is high potential of Indian investment in Nepal. He emphasized on the bilateral cooperation for mutual benefit. </div> <div> </div> <div> Nepal should increase the volume of export to India to reduce the existing trade deficit with India, he suggested. “Nepal can export hydroelectricity to India which will help reduce the trade deficit.”</div> <div> </div> <div> The Birgunj Chamber of Commerce and Industry in association with Minds Nepal has organized the expo that is aimed at increasing international trade particularly with India and the SAARC countries. The 10-day exhibition has been displaying a wide range of products from Nepal, India and the SAARC region, the organizer said. </div> <div> </div> <div> <span style="font-size:14px;"><strong>Nepal-India Border Summit </strong></span></div> <div> Nepal-India border summit concluded on Saturday (February 15) issuing a 15-point “Birgunj Declaration 2070”. Birgunj Chamber of Commerce and Industry had organized the summit with participation of parliamentarians from bordering districts. In the programme, six parliamentarians from Bara and Parsa districts of and two parliamentarians from India participated. </div> <div> </div> <table align="center" width="100"> <tbody> <tr> <td> <img alt="" src="/userfiles/images/1%20(Copy)(4).jpg" style="border-width: 0px; border-style: solid; width: 550px; height: 354px;" /></td> </tr> <tr> <td bgcolor="#DDDDDD"> <div align="center"> <div style="text-align: center;"> <strong>BiCCI’s immediate past president Ashok Temani (second from right) helping Indian Ambassador Ranjit Rae to unwrap the Greater Nepal CD for launching while FNCCI president Suraj Vaidhya (far left) looks on</strong></div> </div> </td> </tr> </tbody> </table> <div> </div> <table align="center" width="100"> <tbody> <tr> <td> <img alt="Crowd at the readymade garment stall." src="/userfiles/images/2%20(Copy)(4).jpg" style="border-width: 0px; border-style: solid; width: 550px; height: 354px;" /></td> </tr> <tr> <td bgcolor="#DDDDDD"> <div align="center"> <div style="text-align: center;"> <strong>Crowd at the readymade garment stall.</strong></div> </div> </td> </tr> </tbody> </table> <div> </div> <table align="center" width="100"> <tbody> <tr> <td> <img alt="BiCCI president Ashok Vaidhya " src="/userfiles/images/3%20(Copy)(4).jpg" style="border-width: 0px; border-style: solid; width: 550px; height: 179px;" /></td> </tr> <tr> <td bgcolor="#DDDDDD"> <div align="center"> <div style="text-align: center;"> <strong>BiCCI president Ashok Vaidhya (4th from the right) with participants of Nepal - India Border Summit</strong></div> </div> </td> </tr> </tbody> </table> <div> </div> <table align="center" width="100"> <tbody> <tr> <td> <img alt="Crowd at the electric equipment stall." src="/userfiles/images/4%20(Copy)(3).jpg" style="border-width: 0px; border-style: solid; width: 550px; height: 339px;" /></td> </tr> <tr> <td bgcolor="#DDDDDD"> <div align="center"> <div style="text-align: center;"> <strong>Crowd at the electric equipment stall.</strong></div> </div> </td> </tr> </tbody> </table> <div> </div>', 'published' => true, 'created' => '2014-02-17', 'modified' => '2014-02-23', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'A ten-day Nepal-India Trade Expo 2014 kicked off in Birgunj last Thursday (February 13). Indian ambassador to Nepal Rajit Rae inaugurated the expo amid a function organized at Aadarshanagar stadium in Birgunj.', 'sortorder' => '2493', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 5 => array( 'Article' => array( 'id' => '2639', 'article_category_id' => '211', 'title' => 'Shreenagar Agro Farm', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> </div> <div> <strong>--By Pinaki Roy</strong></div> <div> </div> <table align="right" style="margin: 0px 0px 0px 10px;" width="25"> <tbody> <tr> <td> <img alt="Satish Shrestha, MD, SAF" src="/userfiles/images/ss1%20(Copy)(1).jpg" style="border-width: 0px; border-style: solid; width: 200px; height: 183px;" /></td> </tr> <tr> <td bgcolor="#FFFFFF"> <div align="center"> <strong>Satish Shrestha</strong>, MD, SAF</div> </td> </tr> </tbody> </table> <div> An initial investment of Rs 1 million made in 2001 was the first step towards making Shreenagar Agro Farm (SAF) Pvt Ltd the big name it is – a company with an estimated current net worth between Rs 500–600 million. Satish Shrestha, the Managing Director of SAF, entered the livestock business in 2001 while still working with the Citibank. A BCom graduate from the prestigious Sydenham College of Commerce and Economics in then Bombay, he worked as Relationship Manager at the Kathmandu office of Citibank from 1997 to 2002. </div> <div> </div> <div> Gems Poultry, an integrated farm spread over 15 ropanis of land in Gongabu, Kathmandu was looking for a partner. Shrestha took the opportunity to become a partner in the farm that comprised of a fish pond, a small feed making facility and a commercial broiler unit. </div> <div> </div> <div> <span style="font-size: 16px;"><strong>Decision Time</strong></span></div> <div> In 2002, Citibank decided to close down its office in Kathmandu and offered Shrestha a job at its office in Bangalore, India. While he was still pondering over the chance to relocate, his partner at Gems Poultry offered him to take over the company entirely. It got him thinking but eventually he decided to stay back and buy out the company. He paid the agreed amount over a period of three years and also renamed the enterprise as Gems Agro Livestock Industries Pvt Ltd. Having dabbled the banking job and the livestock business simultaneously for a year and taking over the company in full later helped Shrestha launch his flagship company – Shreenagar Agro Farm – in due course of time.</div> <div> </div> <div> <span style="font-size: 16px;"><strong>The Company</strong></span></div> <div> Shreenagar Group comprises of three companies – Shreenagar Agro Farm Pvt Ltd, Sunaulo Agro Farm Pvt Ltd, and Gems Agro Livestock Industries Pvt Ltd. These companies have emerged as an agri-business conglomerate with activities ranging in Poultry Breeder Farming for broiler and layer, Hatchery for production of broiler and layer day-old-chicks, Feed Mill for production of mash and pellet feed for poultry & other livestock and Commercial Farming of broiler and layer as well as distribution of table eggs (regular and branded). </div> <div> </div> <div> SAF moved business to Butwal in 2006-07 due to space constraint in the capital, a result of massive urbanization, which was hindering the expansion of his industry. The company stands out due to its technological advancement, research, continuous investment, professionalism and adequate exposure when compared to its contemporaries in the domestic market. It employs 150 people at all its facilities put together.</div> <div> </div> <div> </div> <table align="center" width="100"> <tbody> <tr> <td> <img alt="Feed Mill of Shreenagar Agro Farm" src="/userfiles/images/ss2%20(Copy)(1).jpg" style="border-width: 0px; border-style: solid; width: 550px; height: 368px;" /></td> </tr> <tr> <td bgcolor="#DDDDDD"> <div align="center"> Feed Mill of Shreenagar Agro Farm</div> </td> </tr> </tbody> </table> <div> </div> <div> <span style="font-size: 16px;"><strong>Learning Curve</strong></span></div> <div> Shrestha makes regular visits to India for observing development in similar business areas. “I also visit Thailand often which is the heart of agri-business sector in this region,” he says. He also travels to Holland at regular intervals to update himself with technological advancements in the sector. He adds, “What has become obsolete in regions such as Europe is coming to our part of the world now.”While certain learnings are implemented immediately, some others are considered over a longer period of time, he says.</div> <div> </div> <div> Exposure to successful agri-business outlets abroad has taught the company to focus on bio security. It has ensured distance between its poultry units, cleaner environment, maintenance of hygiene protocols etc. Another important aspect is the placement of its various farms. For example, the growing flock is based in Butwal while the production flock is at Palpa. </div> <div> </div> <div> <span style="font-size: 16px;"><strong><img alt="golden Egg" src="/userfiles/images/ss3%20(Copy)(2).jpg" style="float: right; margin: 0px 0px 0px 10px; width: 160px; height: 197px;" />Golden Egg</strong></span></div> <div> Shrestha always knew there was a market for branded eggs in the country. “A cooking experience at my home kitchen sparked the idea of dating eggs to ensure fresh product for the consumers,” he informs. Around mid-2012, SAF launched ‘Golden Egg’ in containers that also mentioned the timeframe within which the eggs were required to be consumed. </div> <div> </div> <div> Golden Egg started with sales of 1,000 eggs per day which increased to 40,000 eggs per day in about a year-and-a-half’s time period. The company has now set a target to reach sales of 100,000 eggs per day by the end of 2014. Currently, Golden Egg is available in packs of 6, 12 and 30 eggs. The Golden Egg containers have the ‘best before’ dates on their covers and are sold via hundreds of retail outlets. </div> <div> </div> <div> <span style="font-size: 16px;"><strong>Sales Strategy</strong></span></div> <div> Having priced Golden Egg at a premium, SAF targeted consumers who were more likely to be quality conscious. Hence, the brand was introduced in department stores and various marts to begin with. The company is currently awaiting the results of a research on consumption trend of Golden Egg following which it will be selling branded eggs individually. The egg shells will be individually marked with Golden Egg stamp and available at the convenience stores and “kiraana pasals” as well. </div> <div> </div> <div> “Sourcing eggs from local farmers in various locations besides our own farm has multiple advantages,” says Shrestha. He adds that while the idea provides business opportunities to the farmers, it also saves him the expenses of opening and maintaining farms. SAF continues to get its supply of products from alternate locations even at times when a certain part of the country witnesses a problem. The company imparts trainings to enable farmers run their respective farms efficiently and adhere to quality standards set by the company.</div> <div> </div> <div> <span style="font-size: 16px;"><strong>Looking Ahead</strong></span></div> <div> Among its future plans, the company is continuously looking at integration efforts, reveals Shrestha. He hopes to reach fresh stores and ensure greater presence in retail over the next couple of years while also mulling over adding slaughtering and processing aspects of the livestock business. </div> <div> </div> <div> “We are also exploring the idea of launching retail outlets tentatively named Golden Fresh Mart which will have four components: poultry & meat products (includes eggs), dairy production, bakery products, and vegetables & fruits,” Shrestha says. He elaborates that the idea is to provide end consumers with an array of products under the same roof. He quickly adds though that it all depends on having like-minded partners who already hold an edge in their respective business segments. </div> <div> </div> <div> Shrestha always dreamt of running a volume based industry in a conventional manner and being able to make a difference. Success has come along the journey, he says and advises aspiring entrepreneurs to keep on striving and continue in believing one’s instincts.</div>', 'published' => true, 'created' => '2014-02-20', 'modified' => '2014-02-23', 'keywords' => 'new business age success story news & articles, success story news & articles from new business age nepal, success story headlines from nepal, current and latest success story news from nepal, economic news from nepal, nepali success story economic news and events, ongoing success story news of n', 'description' => 'Caught between a plum banking job and entrepreneurship, Satish Shrestha chose the latter. A little over a dozen years later, he has not looked back and is a successful businessman in the making. Notwithstanding all the hardships that he courted along the way, he is glad to have pursued his instincts and believed in his dreams.', 'sortorder' => '2492', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 6 => array( 'Article' => array( 'id' => '2588', 'article_category_id' => '169', 'title' => 'Handling People Why Employees Leave Organization?', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <div> <div> Every organization deals with employee turnover. It struggles to fill vacancy even when no new positions are created. People get offers from prestigious companies with better infrastructure, great salary, fair policies, good perks and excellent training opportunity; But instead of building career and settling for a longer period, some of them walk out within a year or two. But there is a pattern of people leaving. Gallup conducted a survey amongst a large population and came back with similar findings. Any organization, losing good people, should look at the Managers handling them. People join an organization but leave their bosses. </div> <div> </div> <div> Good superior is the reason why people stay and flourish in a company and a bad one can cause catastrophe with high turnover. When people cannot retort openly in anger, they do so by passive aggression, by digging their heels in and slowing down, by doing only what they are told to do without any added initiative, by omitting to give crucial information. If somebody is working for a person without any respect, then the soul is absent in the job. Finally, some instances of lack of empathy or downright rudeness and humiliation will compel them to go. Research suggests that employees find humiliation most intolerable. First time, a thought would have been planted. Second time, resolve gets strengthened. Third time, searches begin actively. </div> <div> </div> <div> Different managers can stress out employees in different ways - by being too controlling, too suspicious, too pushy, too critical or even too hands off. But they forget that people are not fixed assets, they are free agents. When this goes on for too long, an employee will quit, often over a trivial issue. </div> <div> </div> <div> In any decently sized organization, normally a pattern of bell curve exists with top 10% people performs outstandingly well and bottom 10% poorly. Organization may not suffer if bottom 10% goes. But the deadwoods mostly stay back and talents move. With that, years of knowledge and experience departs as well, sometimes straight to competition. Some Company handles this by weeding out bottom 10% and rewarding others handsomely. But, while doing so, they cast a pall of fear over their employees and destroy morale and innovative thinking. Some does not believe in firing and to manage, they reduce gap between top and bottom. This demotivates the top performer but does not improve the bottom either. </div> <div> </div> <div> So what should an organization do to prevent high attrition? To start with, a study can be initiated to understand the turnover pattern. Is it pointing out towards any department, grade, age group or manager? Then an employee satisfaction survey can be conducted to understand whether the employees are motivated or not and if not then what are the reasons? Slicing through profile is needed when the survey results are analyzed. A lot can be learned through simple questions like whether the employee has any friend in office or not, whether his boss shares organization goal and vision or not. Based on that, certain action agenda can be decided. </div> <div> </div> <div> It is important to make certain that every Job Profile is thoroughly laid out. I must know what I am supposed to do, what is the organization expects from me? I have seen cases where people react badly when they feel that what is expected from them were never clearly informed beforehand. They felt they were treated unfairly.</div> <div> </div> <div> Whether people are taking ownership of their team members or not is a critical factor. When the Boss very dispassionately disowns the blunder caused by his team and put the blame squarely on somebody’s shoulder, if one is not sure that his boss will stand by him in his hour of crisis then he will never stick his neck out. </div> <div> </div> <div> Organizations must balance their reward and punishment system. Even though the punishment should not mean that bottom 10% will lose their job but the reward for the top 10% should be sufficiently higher than others. People at all levels have to be suitably empowered to ensure ownership. To empower, one must analyze set of jobs each person is doing and what can be delegated down. The person to whom the job would be delegated can be identified by carrying out a SWOT analysis for each of the probable candidates. While doing so, we need to remember that each person has certain strength and if those strengths are played upon instead of harping on the improvement on weaknesses, the result can be positive and manifold. Post this, the person, identified for empowerment can be coached and trained to handle the extra work. He has to take responsibility and he would be held accountable. But, if he gets credit for successful execution and also possesses authority to tweak the system to achieve more, he will put in real good effort to excel. </div> <div> </div> <div> In a nutshell, there are certain steps any organization should take to handle attrition. </div> <div> 1.<span class="Apple-tab-span" style="white-space: pre;"> </span>Study turnover pattern – look for some weak areas which needs immediate attention </div> <div> 2.<span class="Apple-tab-span" style="white-space: pre;"> </span>Conduct internal survey to gauge employee satisfaction – create and implement action areas based on that </div> <div> 3.<span class="Apple-tab-span" style="white-space: pre;"> </span>Ensure appropriate job descriptions across all levels are created and informed to both employee and his superior without any ambiguity.</div> <div> 4.<span class="Apple-tab-span" style="white-space: pre;"> </span>Implement appropriate evaluation system and evaluation are to be done fairly and transparently. Employee ratings have to be properly informed to him</div> <div> 5.<span class="Apple-tab-span" style="white-space: pre;"> </span>Analyze training requirements and ensure people receive training as per their need </div> <div> 6.<span class="Apple-tab-span" style="white-space: pre;"> </span>Make sure people at all levels are suitably empowered and all required resources are provided to them to carry out their job</div> <div> 7.<span class="Apple-tab-span" style="white-space: pre;"> </span>Last – but most important – create a culture of Care and Nurture and ensure managers handling teams are tuned to this culture. They are the key to build teams. Every team leader must be taught the following; “No matter what, I will always treat all my team members the way I would like myself to be treated by my superior”</div> <div> </div> <div> But this culture takes years to build up. Management has to consciously practice this to achieve the intended goal. Employee is an important aspect of any organization that can either turn into an asset by delivering value or into a liability by becoming a burden. It is the responsibility of the organization to ensure that employees are groomed and properly utilized. For that, appropriate training must be given to managers who handle teams. They are to be trained to seek opportunity to show that they care for their team. A culture of care and empathy can be real game changer. As John wooden said – we must seek opportunity to show we care, the smallest gesture can make the biggest differences. </div> <div> </div> <div> <img alt="Buddha's Delight" src="/userfiles/images/bd1%20(Copy)(2).jpg" style="width: 550px; height: 299px; margin-left: 10px; margin-right: 10px;" /></div> </div> </div> <div> </div>', 'published' => true, 'created' => '2014-02-13', 'modified' => '2014-02-21', 'keywords' => 'new business age buddha’s delight news & articles, buddha’s delight news & articles from new business age nepal, buddha’s delight headlines from nepal, current and latest buddha’s delight news from nepal, economic news from nepal, nepali buddha’s delight economic news and events, ongoing buddha’s', 'description' => 'Different managers can stress out employees in different ways - by being too controlling, too suspicious, too pushy, too critical or even too hands off.', 'sortorder' => '2491', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 7 => array( 'Article' => array( 'id' => '2591', 'article_category_id' => '137', 'title' => 'Nepal Among Top 20 Fragile LDC ODA Recipients', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Sanjeev Sharma</strong></div> <div> </div> <div> Nepal is among the world’s top 20 fragile countries to receive official development assistance (ODA) from multilateral and bilateral donors, according to a new OECD report. The report entitled ‘Fragile States 2014: Domestic Revenue Mobilisation’ informs that Nepal received USD 892 million in ODA in 2011. The report prepared by OECD’s Development Assistance Committee (DAC) totalled the country’s net ODA atUSD 8.17 billion from 2000-2011. ODA per capita in Nepal was recorded at USD 29 in 2011.</div> <div> </div> <div> The report has characterised 51 countries (both LDCs and non-LDCs) as the fragile states that are unable to meet their population’s expectations or manage changes in expectations and capacity through the political process. According to OECD, ODA to fragile states declined to USD 53.40 billion in 2011 from record high of USD 67.35 billion in 2005. “Aid has declined by 2.4 per cent in 2011 and will continue its downward trend,” says the report.”Meanwhile, the share of the world’s poor found in fragile states is set to rise to a half by 2018.”</div> <div> </div> <div> These countries saw a total inflow of ODA at USD 547.19 billion from 2000-2011. Among 51 countries, Afghanistan was the highest recipient, receiving net ODA of USD 45.43 billion from 2000-2011. The war-ravaged country saw significant increase in foreign financial and technical assistance after the fall of Taliban regime in 2001. Pakistan also received note worthy amount of ODA over the last decade with USD 28.51 billion being allocated to it. Bangladesh and Sri Lanka, meanwhile, acknowledged net ODA of USD 19.76 billion and USD 9.02 billion respectively. OECD listed Afghanistan, Democratic Republic of Congo, Ethiopia, Pakistan and Kenya as the top five fragile ODA recipients in 2011. Similarly, the global economic body noted United States, European Union, International Development Association (IDA), United Kingdom and Japan as the top five ODA providers to fragile states in 2011. </div> <div> </div> <div> The report informed that Nepal received a net country programmable aid (CPA) of USD 10.25 billion from 2000-2013. Similarly, OECD’s outlook projected that the country will receive USD 3.08 billion in CPA during 2014-2016. However, aid inflow in Nepal is seen fluctuating as the country witnessed a 5 per cent decline in CPA in 2010-2011. In 2008-2009 Nepal observed a sharp rise in CPA by 32 per cent followed by a 1 per cent increase in 2009-2010.</div> <div> </div> <div> <span style="font-size:16px;"><strong>“Donors doing too little to strengthen domestic revenues in fragile states”</strong></span></div> <div> The report warns international donors that they are not doing enough to help fragile states increase their domestic revenue stating that only a tiny fraction of development aid goes into programmes aimed at improving tax collection. The report finds that just 0.07 per cent of ODA to fragile states is directed towards building accountable tax systems. “Donors pledged as far back as 2002 to make it a priority to help poor countries mobilise more domestic revenues. Yet fragile states still collect less than 14 per cent of their gross domestic product (GDP) in taxes on average, well below the 20 per cent level considered necessary to meet poverty goals,” states the report. </div> <div> </div> <div> According to the report, Afghanistan has received by far the most support in this area, notably from the International Development Association (IDA) for trade facilitation and from the US for public financial management. Haiti and Nepal remained next in line to receive this aid. “Haiti mainly benefitted from US technical assistancefor public financial management, while Korean aid inNepal helped modernise the customs system, and Germany and Denmark supported its revenue and tax administration,” says the report. </div>', 'published' => true, 'created' => '2014-02-17', 'modified' => '2014-02-21', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Nepal is among the world’s top 20 fragile countries to receive official development assistance (ODA) from multilateral and bilateral donors, according to a new OECD report. The report entitled ‘Fragile States 2014: Domestic Revenue Mobilisation’ informs that Nepal received USD 892 million in ODA in 2011.', 'sortorder' => '2490', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 8 => array( 'Article' => array( 'id' => '2617', 'article_category_id' => '201', 'title' => 'Prabal Gurung Takes Mustang To New York', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> It was a homecoming of sorts for designer Prabal Gurung, who drew inspiration from his homeland of Nepal for his fall 2014 collection that was presented Saturday during New York Fashion Week.</div> <div> </div> <div> Specifically, he was inspired by the remote Mustang region, where aspects of the local culture have remained unchanged since the 15th century. </div> <div> </div> <div> Prabal Gurung unveiled his fall/winter 2014 season in the cavernous recesses of New York’s Moynihan Station, watched by a packed house led by style queen Anna Wintour.</div> <div> </div> <div> Gurung, who formed his label in February 2009 after studying in India and New York, has dressed some of the world’s most famous women. He was born on March 31, 1979 in Singapore to Nepali parents and raised in Kathmandu. According to Gurung his new collection was a glimpse of his home.</div> <div> </div> <div> “I wanted to share with the rest of the world a little piece of me. It’s our fifth year now and, you know, show the world a glimpse of where I’m from,” he said. Effervescent and charming, dressed in jeans and a white T-shirt, the 34-year-old was delighted to show off a notice board backstage covered with pictures from his homeland. He travels back to Nepal once a year and loves to trek in the Himalayas, often just with a porter for company to recharge his batteries from the chaos of the jet-set life. </div> <div> </div> <div> Back in New York from such recent trip, he got further inspiration from oil paintings of friend British artist Cecily Brown, whose prints he also pointed out on the notice board. His show featured pashmina and anklets from Nepal, which were made in Italy, embroidered feathers from India, chiffon from Paris and sunglasses from London.</div>', 'published' => true, 'created' => '2014-02-18', 'modified' => '2014-02-23', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'Award-winning designer Prabal Gurung unveiled his fall/winter 2014 season NY Fashion Week.', 'sortorder' => '2489', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 9 => array( 'Article' => array( 'id' => '2638', 'article_category_id' => '31', 'title' => 'In The Long Run, Ethics Pays', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <span style="font-size: 16px;"><strong>Prof C Panduranga Bhatta</strong> is a Professor of Business Ethics and Communication Group and Coordinator of Management Centre for Human Values at the Indian Institute of Management Calcutta (IIMC). He has been continuously involved in academic administration of the IIMC since 1999 and is the founder coordinator of Business Ethics and Communication Group. He was recently in Kathmandu for a conference on World Forum for Ethics in Business (WFEB). In an interview with New Business Age’s <strong>Angila Sharma</strong>, he discussed core principles of business ethics and its relevance in the present context. <strong>Excerpts:</strong></span></div> <div> </div> <div> <span style="font-size: 14px;"><strong>Generally business ethics and CSR are treated as synonymous. How to distinguish them?</strong></span></div> <div> Before the introduction of the term Corporate Social Responsibility (CSR), business ethics’ definition was limited to not doing corruption in business and was particularly limited to financial matters. But now, business ethics is defined and understood in a broader way and includes Corporate Social Responsibility also.So, I would like to say that CSR is one of the aspects of business ethics. As such, the business houses that are active in their CSR can be called ethical because they have realized that they have a duty to perform. </div> <div> </div> <div> Earlier, business houses would conduct business in an ethical manner but would not be concerned with things going around them. But, now, business houses cannot only be ethical in their business. They have to be aware about the things happening around them. The business houses should be concerned with the society because they make profit because of the ordinary people around them. So, CSR is a part of business ethics.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>The popular view including that of the government is that business ethics and profit making cannot go hand in hand. What is your opinion on this? </strong></span></div> <div> This is the biggest mistake people are making. We can take examples of corporations in the international arena that are making profit ethically. Ethics means taking care of the safety of the products; it means you don’t do any wrong to the customers through your products. Business ethics means that corporations allocate certain amount of their profit for the betterment of the people. So, the corporations, which are conducting business in an ethical manner, also earn profit.</div> <div> </div> <div> This issue can be looked upon in two ways. It depends on the business corporation whether it is looking at the short term or long term while starting a business.Short-term business means operating for a small period of time, earning profit in any manner and then shifting to a new place. We describe these kinds of businesses as ‘fly by night operators’. This type of activity is completely unethical and we do not consider these types of activities as business. We are talking about business corporations that are established to operate for a long period of time.Such business corporations do not limit themselves to stopping fraud and other corrupt activities, but widen their view to the entire society. Thus, in the long run, such business houses survive, make profit and they are considered as ethical business firms. In the long run, ethics pays.</div> <div> </div> <div> So, I don’t agree that business firms, which make profit, cannot be ethical.</div> <div> </div> <div> <span style="font-size: 16px;"><strong>In today’s competitive world, how can business houses gain comparative advantage through practicing business ethics?</strong></span></div> <div> Globalization can give you advantage as well as disadvantage. Firstly, if you are an ethical company, you will be welcomed everywhere. This is because of the reputation of the business house and reputation is built on ethics.If a business house has global ambition and wants comparative advantage, the business house has to build a brand first. Business houses have to take care of ethics firstly. For example: Infosys is a company that is present throughout the world. It is recognized and accepted everywhere because they have taken ethics as their main priority. They have a motto that says ‘Powered by Intellect; Driven by values’. They have been practicing it and people have been watching their loyalty towards their motto. If people are convinced, they will accept the company. This way the business houses can gain comparative advantage. Their ethics provide them the comparative advantage.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>What innovative methods are being practiced or developed to instil human values in the management of business organizations?</strong></span></div> <div> Human Values is a very comprehensive term. It includes the behaviour of the business houses towards its customers, employees, community and the environment. The business house has to be concerned about the environment and the community while practicing business. If the business house is not eco-friendly, it can affecthuman life and thus the business house is considered of not practicing human values.</div> <div> </div> <div> Business houses can instil human values in their practice through the development of caring attitude.Any business houses should consider human beings as their first priority. As a businessperson, relationship matters a lot. If business houses fail to maintain good relationship with the employees, customers and the community, it will fail. This way business houses can work for their betterment through respecting human values.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>How do you see the situation of business in South Asia?</strong></span></div> <div> The situation is picking up now because of globalization. People are exposed to the activities of business houses. Earlier, the situation was such that business houses would carry out their work in an unethical manner and to cover it up, they would do some charity and give donations. But, now, how any corporation makes business is noticed and reported. This is coming from the globalised context.</div> <div> </div> <div> Another thing that is improving the situation is the international ranking. Every business house wants to participate in the international ranking. For example: Transparency International ranking.The moment you perform corrupt activities or you compromise with the safety of the employees and customers, you are ranked in the top of the most corrupt company and the country. Earlier, companies were not concerned with the country’s image, but now, companies are tied up with the country. If the country does not have good image, nobody would want to do business in that country. Countries are the conglomerates of certain companies. So, the business houses are concerned with ethical issues because of the international ranking. This has helped in improving the situation of business ethics in South Asia and the rest of the world.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>What do you think makes an excellent leader?</strong></span></div> <div> There are so many aspects by which a person can become an excellent leader. Firstly, the person has to be sensitive towards the community and the people. Secondly, the person has to be creative and has to have a vision. The means and methods of achieving the vision is what matters the most. Any leader to be successful in the present context should have these qualities. Above all, it is very important that the leader is ethical because people will be watching the behaviour of the leader.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Marketing profession is derided as an example of unethical business practice. What is your suggestion to this professional field for overcoming this challenge?</strong></span></div> <div> In marketing, what matters the most is the product. Communication becomes very important while marketing. If you are giving false information to the consumers while selling the product, then, you lose reputation. What you are marketing and how you are marketing is very important. If you are advertising your product by giving false information, then that is a problem. If you are marketing a product that does no harm to the consumers, then it is not unethical.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>There is a school of thinkers who believe that ethics can’t be taught. How do you respond to this assertion?</strong></span></div> <div> This is nothing more than a myth. Teaching ethics directly to the students may not go well with the students. So, teaching business ethics should take another form. Rather, sensitizing people towards unethical acts can do no good. Teaching ethics in a direct way will be of little or no use. If ethics is incorporated in all the departments and activities, it can be useful. Awareness has to be created among people regarding ethics.</div>', 'published' => true, 'created' => '2014-02-20', 'modified' => '2014-02-21', 'keywords' => 'new business age business visitors news & articles, business visitors news & articles from new business age nepal, business visitors headlines from nepal, current and latest business visitors news from nepal, economic news from nepal, nepali business visitors economic news and events, ongoing busin', 'description' => 'Prof C Panduranga Bhatta is a Professor of Business Ethics and Communication Group and Coordinator of Management Centre for Human Values at the Indian Institute of Management Calcutta (IIMC). He has been continuously involved in academic administration of the IIMC since 1999 and is the founder coordinator of Business Ethics and Communication Group', 'sortorder' => '2488', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 10 => array( 'Article' => array( 'id' => '2644', 'article_category_id' => '170', 'title' => 'Evolve Or Ease Out Non-performing Employees', 'sub_title' => '', 'summary' => null, 'content' => '<div> <strong>--By Purna Man Shakya</strong></div> <div> </div> <div> A study shows that 60 per cent of a workforce includes average workers based on a 20-60-20-percent rule. Half of the remaining 40 per cent consists of top performers, and the other half includes poor performers. The poor performers can cause the most harm if employers don’t address their productivity problems. Employees who get away with underperforming create laziness in the workplace that hampers the productivity of others. So, in order not to retain non-performing employees three major steps should be taken.</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>Identify performers from the non-performers</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>Explore reasons of non-performance</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>Corrective actions and administering formal discipline</div> <div> </div> <div> <span style="font-size: 16px;"><strong>Identify performers from the non-performers</strong></span></div> <div> Generally saying performers make positive contributions in the achievement of both team and organizational goals and non-performers hardly make such contributions. So, identification of performers is the major strategic step towards non-retaining non-performing employees. Performers normally exhibit following behaviours: </div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>They are efficient in terms of communication, workloads handling, change management, managing personal and professional developments.</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>They prefer to work closely with co-workers and exhibit inspirational leadership. </div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>They are good at planning their own futures and also use the work they do with the employers to help them grow their ambitions. They are often mentors and trainers in the workplace because they thrive on helping others improve their productivity. They can determine what they must accomplish, set goals and organize themselves to achieve these goals efficiently. They also actively try to improve their performance, which means they actively find resources they need. It also means they tend to learn from their own mistakes. Usually they are better at self-direction.</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>They recognize that they are their own bosses and the employer is a consumer. </div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>They are fearless when it comes to doing what it takes to succeed. </div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>Performers also generate many of a company’s new ideas because they tend to look for ways to improve procedures to maximize their own productivity. </div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>They adhere to policies, procedures, and regulations </div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>They also participate in meetings and other activities for the meaningful outputs.</div> <div> </div> <div> Failing to comply with the above behaviours will qualify a person to be a non-performer.</div> <div> </div> <div> <span style="font-size: 16px;"><strong>Explore reasons of non-performance</strong></span></div> <div> Secondly we should explore reasons of non-performance. Reasons of non-performance can be discussed under four dimensions:</div> <div> </div> <div> <span style="font-size: 14px;"><strong>a. Employee</strong></span></div> <div> The employee may:</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>Lack requisite technical skills, public relation skills, and work ethics.</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>May be an acceptable performer but is unhappy and wants a different position.</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>Have an undisclosed learning disability or medical condition affecting performance</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>Have problems with authority: rejects idea that someone will judge their work</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>Have mental health challenges: depression, personality disorder, post-traumatic stress disorders, etc.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>b. Poor employee grooming by supervisor</strong></span></div> <div> Sometimes supervisors also contribute in grooming poor employees. An employee has the capacity to perform at a higher level but is not been given initial tools and direction to create an opportunity for success. The employees have different assumptions, about what is considered good performance by the supervisor. This situation is often created when supervisor fails to meet regularly with the employees. The supervisor is called as a poor communicator when an employee does not understand relative priorities of various tasks, does not know company policies or procedures and also does not understand what supervisor likes, wants or dislikes.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>c. Job</strong></span></div> <div> Sometimes the person is capable and knows what to do but the volume is just too high for one person to handle. Another issue is whether the employee has enough information and tools to complete their work in an optimum fashion or not. When unrelated or obviously different tasks are thrown together, it may be difficult to find the unique individual who is good at all of them. An example would be a position that requires high-level people relational skills and high-level scientific skills. Sometimes poor job design also contributes towards non-performance. Some of the potential job design issues are:</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>Job volume is based on extremely high performer and person is new</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>Job contains too many unrelated accountabilities</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>Quality standards are impossible to meet</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>The job qualifications used in recruitment don’t actually match what is required for the position.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>d. Workplace atmosphere</strong></span></div> <div> Most of us have experienced a toxic workplace environment in which good employees are so distracted by stress and drama that they cannot properly attend to job performance. Here are potential environmental issues that might be a source of non-performance.</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>The workplace atmosphere is excessively negative with toxic co-workers, bosses and power struggles. </div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>A powerful informal leader controlling activities.</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>Good people aren’t consistently praised/rewarded and so become disinterested.</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>Negative conduct is not redirected so that co-workers are stressed by co-worker’s abusive behaviour.</div> <div> </div> <div> <span style="font-size: 16px;"><strong>Corrective actions and administering formal discipline</strong></span></div> <div> Dealing with a non-performing staff member is one of the most difficult tasks one faces as a manager. Before taking actions all the options should be considered carefully. Formal discipline is one option, but this can be awkward and disruptive to the team, and may have legal implications. Formal discipline should be used only as a last resort tool when all else has failed. As per Labour Law of Nepal employees cannot be terminated on performance ground but can be terminated on the ground of misconduct. But due to employee union’s influence it is being hard to terminate employees even on misconduct ground. So, formal disciplinary action, such as formal warnings, suspension or termination should be exercised only when all other options are exhausted. If an organization does everything in its power to help a non-performing employee and still remains unsuccessful, it may have to resort to formal discipline. Four less-severe strategies are explained below. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>a. Counsel to correct poor behaviour or performance.</strong></span></div> <div> Counselling is a pre-planned informal discussion with a team member. The goal is to raise awareness that a problem exists and correct behaviour. During a counselling meeting, problem should be clearly stated; employee should be asked for his/her thoughts about the situation. There should be clarity on both sides on “what needs to be done differently now onwards along with clarity on action plan”. The counselling should end up with encouragement and should set up follow up meeting to discuss results.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>b. Confront inappropriate behaviour.</strong></span></div> <div> Confrontation is an unplanned response to an urgent need to intervene when an employee exhibits poor performance or behaviour. An example may be when a manager witnesses an action that compromises company safety regulations, policies, or procedures. </div> <div> Confrontation should: </div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>include observation, inquiry, and listening</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>acknowledge the effort and explain the concern</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>teach corrective action</div> <div> </div> <div> <span style="font-size: 14px;"><strong>c. Document both good and bad performance.</strong></span></div> <div> If the problem intensifies, employee’s performance and behaviour should be documented which will be useful while defending organization legally in future. Documentation should be fair, consistent, and objective. In addition, documentation should note corrective actions and results- good or bad. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>d. Measure performance.</strong></span></div> <div> Measurement of performance gives foundation for raises, promotions, and corrective actions. Without measurable performance objectives, organization gets open to all kinds of arguments. In the case of disciplinary action, the arguments may have legal implications. Organization must be able to demonstrate objectively the events leading up to disciplinary action. The evidence must speak for itself. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>e. Withdrawing responsibilities</strong></span>.</div> <div> This step should be taken as a tool to demotivate and harass non-performing staffs for encouraging him/her to take voluntary retirement.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>f. Administer formal discipline as a last resort.</strong></span></div> <div> If all else fails to bring compliance, organization must be prepared to enter into the disciplinary process. Discipline is a formal process with serious implications and can put organization in a position to defend itself legally. Generally there are three outcomes of the formal disciplinary process, and in two of the three possible outcomes, organization will lose the employee: </div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>The employee will live up to the expectations and successfully correct his or her behaviour or performance.</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>The employee will not live up to the expectations and will eventually be terminated.</div> <div> •<span class="Apple-tab-span" style="white-space: pre;"> </span>The employee will resign outright.</div> <div> </div> <div> When taking formal disciplinary action company’s policy should be followed. Progressive disciplinary action may consist of first level warning, second level warning, stopping pay increment, suspension without pay and termination. At the same time upper management, human resources, legal counsel and any other parties with an interest in action should be consulted before taking such actions. Discipline must be applied consistently in all situations. It should be kept in mind that the organization acts in accordance with the country’s laws, any existing contracts and any collective bargaining agreement.</div> <div> </div> <div> The bottom line of termination is; it should be done with proper homework in order to provide safety to the organization and staffs.</div> <div style="text-align: right;"> <em>(Based on a discussion organised by Real Solutions, a Human Resource consulting firm recently)</em></div> <div> </div>', 'published' => true, 'created' => '2014-02-20', 'modified' => '2014-12-22', 'keywords' => 'new business age management gyan news & articles, management gyan news & articles from new business age nepal, management gyan headlines from nepal, current and latest management gyan news from nepal, economic news from nepal, nepali management gyan economic news and events, ongoing management gy', 'description' => 'Performers generate many of the company’s new ideas because they tend to look for ways to improve procedures to maximize their own productivity.', 'sortorder' => '2487', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 11 => array( 'Article' => array( 'id' => '2589', 'article_category_id' => '91', 'title' => 'Made In Nepal: Fantasy And Fact', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <strong>--By Siromani Dhungana</strong></div> <div> </div> <div> What does ‘Made in Nepal’ stand for? The Nepali products cannot get foothold in global market unless manufacturers cannot answer this question. Young entrepreneurs, Non-Resident Nepalis (NRNs), industrialists and even bureaucrats often talk about making Brand Nepal visible. It, however, has been more than evident that they have ignored or neglected bottlenecks to make the brand Nepal visible.</div> <div> </div> <div> “Nepali products lack competitiveness. High lending rate and unnecessary labour cost have resulted in higher production cost of Nepali products,” says economist Rameshore Khanal.</div> <div> </div> <div> Another crucial issue is quality. Economist Sujeev Shakya opines, “Made in Nepal tag should not be equivalent to substandard products. Quality is key issue and our products cannot get good reputation unless we can assure it.”</div> <div> </div> <div> Nepal could make its own identity in agro and herbs products if there would have been a lab that could assure quality, said Khanal. Developed countries give high priority to quality while importing agro products, he said. But Nepal lacks even a standard lab.</div> <div> </div> <div> Honey and other products could get market if we had been able to assure their quality.</div> <div> </div> <div> Some Nepali brands are finding markets in other countries. But the question is: are they commercialized? Generally, Nepali products are focused on niche segments that are too small, said young entrepreneur Sabda Gyawali.</div> <div> </div> <div> In fact, Made in Nepal products have still a long journey to go in terms of commercialization. It is harsh reality that foreigners do not buy Nepali products because of its commercial value but as a souvenir or showpiece or for aesthetic, Gyawali shared with The Corporate.</div> <div> </div> <div> Nepali manufacturer should be able to create unique selling point (USP) of their products, agreed Samir Thapa, president of Nepalese Young Entrepreneurs’ Forum that organizes Made in Nepal expo every year.</div> <div> </div> <div> Experts, however, point out that the current modalities of promotional activities are very effective. “It is quite ironical that we target Nepali Diaspora population even if we organize Made in Nepal expo abroad,” an economist told The Corporate.</div> <div> </div> <div> Nepali manufacturers’ failure to tap evolving market is another reason. Researcher and member of NYEF Manish Jha said that Nepali manufacturers have failed to identify their target market. Export to Europe and USA has been quite rhetorical, he said. “It is time to seek evolving market like South Asia which is more convenient to Nepali exporters.”</div> <div> </div> <div> It is important to emphasise here that we need to invest in various aspect including that of branding, marketing skills, technology and networking before ‘Made in Nepal’ tag gains recognition and respect in the global market.</div>', 'published' => true, 'created' => '2014-02-17', 'modified' => '2014-02-21', 'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal', 'description' => 'As Nepali entrepreneurs look to expand their footprint globally, many analysts believe that they still have a long way to go. Nepali products should maintain quality to make the tag ‘Made in Nepal’ an accepted one in the global market.', 'sortorder' => '2486', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 12 => array( 'Article' => array( 'id' => '2643', 'article_category_id' => '47', 'title' => 'A Twist Of Time', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> </div> <div> <strong>--By Sujan Tiwari</strong></div> <div> </div> <div> Binayak Shah, the President of European Economic Chamber Nepal, Vice President of Summit Group of Hotels and Resorts and Managing Director of Airport Hotel, had started his career from the young age of 17. Though deterred from business as a youth, he ultimately ended up where he was supposed to: in a mega scale business of hospitality and World Expos. Shah, who likes to call himself a development oriented businessman, says that making money is not his sheer aspiration. “I feel that I have to help my country through my business, only then it becomes fruitful,” says Shah.</div> <div> </div> <div> Shah started off as a journalist and used to work for Gorkhapatra and Radio Nepal. “I used to do reporting and proof reading for Gorkhapatra, and did news monitoring for Radio Nepal. That’s where I believe I started my career,” recalls Shah. </div> <div> </div> <div> Shah says he was always oriented towards business, since a very young age. His father never held a job; he was involved in trade and commercial agriculture and did jute and other plantations on a big scale. Unfortunately, a flood in Koshi once swept away all their land and plantation, sending his father deep in debt. His father was deeply shocked by the event, lost a lot of money and stopped doing business. His father also advised him to get a government job and keep away from business. </div> <div> </div> <div> <span style="font-size: 16px;"><strong>Early Life</strong></span></div> <div> Shah was born in 1953 in Durbar Marg of Kathmandu to Late Devendra Bahadur Shah and Gauri Shah. Shah was the eldest of three sisters and a brother. His house was in the same place where Hotel Annapurna is today. “I was born and brought up there till the age of ten. We had to sell our property owing to pressure from the Royal Palace back then as there were plans of establishing the hotel,” recalls Shah. Then the family moved to ancestral house in Gyaneshwor, and Shah still resides in the same place today. </div> <div> </div> <div> Shah did his schooling from Shanti Vidya Griha. He says he was admitted directly in Grade 5 as he used to take home tuitions prior to joining school. He completed his SLC from there, and did his IA from Mahendra Ratna College. He did his graduation from Trichandra College, and finished his Masters in Economic from TU. </div> <div> </div> <div> <span style="font-size: 16px;"><strong>Initiation</strong></span></div> <div> After completing his studies, Shah opted for government job. He joined the then Trade Promotion Centre and worked there for 16 years. He served there in various positions including Department Head and In-charge of International Marketing. During his tenure, he promoted Nepal and Nepali products like carpets, garments and handicrafts in Western European countries. He worked with various international development agencies like GTZ, International Trade Centre and others to promote Nepali products in Europe. “I participated in numerous international trade fairs and exhibitions back then,” says Shah. </div> <div> </div> <div> As a Thakuri, job in army or police was another prospect for him, but life had other plans for him. Thanks to his job in Trade Promotion centre, his orientation towards business grew even stronger. “Government jobs didn’t suit me well, there were lot of political interferences, still I held on for some time,” says he.</div> <div> </div> <div> During his 16 years government job, he made a lot of contacts and relations with international business community. Then he left the job in 1992, and with his initiation, Nepal German Chamber of Commerce and Industries was formed. Shah was the first CEO of the Chamber and he fostered the trade between Nepal and Germany during his tenure. “I formed Business Advisory Service program which was a result of cooperation between German Development Bank and Nepal German Chamber. The program helped numerous SMEs in upgrading their capacities in terms of export,” says Shah. </div> <div> </div> <div> <span style="font-size: 16px;"><strong>Later Years</strong></span></div> <div> Shah’s involvement in Trade Promotion Centre and Nepal German Chamber of Commerce and Industry made him ready to do business on his own. “I had assisted numerous businesses as Business Development Consultant. Later I thought that it was time for me to start something of my own,” says Shah. In the year 2000, he jumped into business and became a full time business person. </div> <div> </div> <div> Shah then started organizing mega-scale international fairs, events and exhibitions that promote Nepal and Nepali products. He specializes in constructing Nepali pavilions with life-size replicas of Nepali temples and structures illustrating art and architecture of Nepal in World Expositions around the globe. World Exposition is a huge public exhibition that is organized around the world by Bureau of international Exposition (BIE), Paris, of which Nepal is also a member. A total of 167 countries are member of BIE. </div> <div> </div> <div> </div> <table align="center" width="100"> <tbody> <tr> <td> <img alt="Nepal Pavillion at Expo 2010 Shanghai, designed, built and operated by IEG" src="/userfiles/images/prs2%20(Copy).jpg" style="border-width: 0px; border-style: solid; width: 550px; height: 368px;" /></td> </tr> <tr> <td bgcolor="#DDDDDD"> <div align="center"> Nepal Pavillion at Expo 2010 Shanghai, designed, built and operated by IEG</div> </td> </tr> </tbody> </table> <div> </div> <div> <span style="font-size: 16px;"><strong>Present Times</strong></span></div> <div> Shah participates in the World Expos through his company Implementing Export Group (IEG), where he is also the Director of International Marketing and Promotion. Shah has constructed various themed Nepali pavilions in World Expos in Germany, China, Japan, Australia, South Korea and other countries. His pavilions have been viewed by millions of people worldwide. “The participation in World Expos massively supports tourism, trade and goodwill of Nepal. We represent entire Nepal in a small scale in these Expos,” says Shah. The next World Expo is going to be held in Milan in 2015 with the theme ‘Feeding the Planet, Energy for Life’, and Shah is currently busy preparing for it. </div> <div> </div> <div> “The Expos do a lot of promotion of Nepal and supports Nepal in numerous ways,” says he. Shah, who recently turned 60, says that participating in these Expos required him to stay overseas for a long time. “Since travelling very frequently doesn’t suit me, I started looking after Airport Hotel as Managing Director,” says he. </div> <div> </div> <div> <span style="font-size: 16px;"><strong>Personal Side</strong></span></div> <div> Shah married Shanta Shah in 1979, and the couple has a son and a daughter Bishan and Ojaswi. Shah says he is busy on all days, and doesn’t usually take leave even on Saturdays. “When I am free, I get restless. I have to be working all the time and I like to keep myself occupied all the time. Free time makes you worry, and I try to avoid that,” says a workaholic Shah. </div> <div> </div> <div> Shah gets up at 5:30 in the morning and is always at his office at Airport Hotel at 8:30. He holds a meeting everyday among his staffs. “There are various departments, and all have to be coordinated for the smooth operation of Hotel. I coordinate between all the departments through the meeting every day,” explains Shah. According to him, maintaining good personal relation with the staffs is the key to make them more productive and motivate them. In the day, he looks after the tasks of Summit Group of Hotels and Resorts. Shah’s evenings are spent in socializing and get-togethers and parties. </div> <div> </div> <div> Shah used to play cricket when he was young, and also was the captain of his team in University. He still finds time to watch cricket on TV, and is a fan of Nepali cricket team. He also loves photography and travelling. “My business has allowed me to travel a lot. I have travelled Europe extensively, and many other countries around the world,” says he. </div> <div> </div> <table align="center" width="100"> <tbody> <tr> <td> <img alt="Shah with his family" src="/userfiles/images/prs1%20(Copy)(1).jpg" style="border-width: 0px; border-style: solid; width: 550px; height: 368px;" /></td> </tr> <tr> <td bgcolor="#DDDDDD"> <div align="center"> Shah with his family</div> </td> </tr> </tbody> </table> <div> </div> <div> <span style="font-size: 16px;"><strong>Word of Advice</strong></span></div> <div> “I am a self made man; I am where I am only because of me. I have no regrets, and I am happy,” says the contented man. In his words, time is the most crucial thing in one’s life, and it should never be wasted. “Time is the most important thing, it won’t wait for you and you won’t get it back. If you act on time, you can achieve a lot, if you miss it, it won’t come back for you,” says Shah. </div> <div> </div> <div> Shah believes that Nepal has come have a long way in a few years, but still a lot needs to be done. “All entrepreneurs and businessmen should think for the country and make long term plans. No one gets rich overnight,” says he. According to Shah, Nepal’s true potential is in numerous sectors, we Nepalis just have to be sincere towards our work. “Nepal cannot compete with India and China in manufacturing, but it is not the same scenario in herbs, tourism and hydropower. We should be able to capitalize our resources,” says Shah. Shah also believes that if we can commercialize agro-forestry, then we can feed the entire world. </div>', 'published' => true, 'created' => '2014-02-20', 'modified' => '2014-02-21', 'keywords' => 'new business age personality news & articles, personality news & articles from new business age nepal, personality headlines from nepal, current and latest personality news from nepal, economic news from nepal, nepali personality economic news and events, ongoing personality news of nepal', 'description' => 'Binayak Shah, the President of European Economic Chamber Nepal, Vice President of Summit Group of Hotels and Resorts and Managing Director of Airport Hotel, had started his career from the young age of 17. Though deterred from business as a youth, he ultimately ended up where he was supposed to:', 'sortorder' => '2484', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 13 => array( 'Article' => array( 'id' => '2640', 'article_category_id' => '79', 'title' => 'Nepal-Sri Lanka: The Half Century Bond', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> </div> <div> <strong>--By Upashana Neupane</strong></div> <div> </div> <div> <img alt="Sri Lanka" src="/userfiles/images/br5%20(Copy)(1).jpg" style="float: right; margin: 0px 0px 0px 10px; width: 300px; height: 452px;" />Diplomatic relations betweenNepal and the Democratic Socialist Republic of Sri Lanka established 57 years ago on 1st July 1957. Relations between the two countries are marked by goodwill, mutual understanding and cooperation. </div> <div> </div> <div> Nepal opened an Honorary Consulate General in Colombo in 1975 and established its embassy in 1995. Sri Lanka has a residential embassy in Kathmandu since 1993. Nepal and Sri Lanka are the founder members of the South Asian Association for Regional Cooperation (SAARC) and are also the members of another regional organization called Bay of Bengal Initiatives for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC). Both countries share similar views on many international issues and work closely in various international forums such as the UN, NAM, WTO, etc.</div> <div> </div> <div> <span style="font-size: 16px;"><strong>Trade and Commercial Relations</strong></span></div> <div> Nepal and Sri Lanka concluded bilateral trade agreement on 3 April 1979. Despite this agreement, trade between the two countries is not up to the desired level due to, among other things, higher cost of transportation, lack of conducive environment for business, lack of interests on the part of business people etc.</div> <div> </div> <div> <strong><span style="font-size: 16px;">Nepal’s Trade with Sri Lanka</span></strong></div> <div> Sri Lankas’ major exports to Nepal are cocoa and cocoa preparations, coffee, tea, spices, electrical machinery and equipment, parts of sound recorders and reproducers, television, cereal preparations, flour, starch or milk pastry cooking products, sugar and sugar confectionery, miscellaneous edible preparations, apparel articles and clothing accessories- knitted or crocheted , edible vegetables, certain roots and tubers and so on.</div> <div> </div> <div> Sri Lanka’s major imports from Nepal are grains (lentils). Other import items, though insignificant, are plastic articles, articles of wood charcoal , carpets and other floor coverings, art work, collectors' pieces and antiques, electrical machinery and equipment and parts of sound recorders and reproducers, television, printed books, newspapers, pictures and products related to the printing industry, manuscripts, raw hides, skins (other than fur skins), leather and so on.</div> <div> </div> <div> The trade figure for the past four years between Nepal and Sri Lanka has been as follows:</div> <div> </div> <div> <img alt="Nepal’s Trade with Sri Lanka" src="/userfiles/images/br1%20(Copy)(7).jpg" style="width: 550px; height: 408px; margin-left: 10px; margin-right: 10px;" /></div> <div> </div> <div> <span style="font-size: 16px;"><strong>Tourists from Sri Lanka</strong></span></div> <div> Lumbini is one of the holiest destinations to the Sri Lankan Buddhists. Sri Lankan government has been reiterating its support to Nepal’s efforts to further develop Lumbini as a City of World Peace. Sri Lanka has constructed rest house for Sri Lankan Buddhist pilgrims and a Monastery Complex in Lumbini. </div> <div> </div> <div> <img alt="Tourist Arrival to Nepal from Sri Lanka" src="/userfiles/images/br2%20(Copy)(4).jpg" style="width: 550px; height: 413px; margin-left: 10px; margin-right: 10px;" /></div> <div> </div> <div> <span style="font-size: 16px;"><strong>Air Services Agreement </strong></span></div> <div> With the aim to increase tourists flow from either country through direct air connectivity between Kathmandu and Colombo, Nepal and Sri Lanka had signed an Air Services Agreement (ASA) on 19 February 1977. On 23 November 2004, a new Memorandum of Understanding (MOU) was signed by both nations in Colombo for reviewing and replacing the previous agreement. The Air Service Agreement and additional MOU on increasing the air seats and providing fifth freedom rights to Sri Lankan airlines was agreed at the negotiations held during 22-24 January 2009, in Kathmandu. </div> <div> </div> <div> <img alt="TidBits" src="/userfiles/images/br3%20(Copy)(4).jpg" style="width: 550px; height: 342px; margin-left: 10px; margin-right: 10px;" /></div> <div> </div> <div> <span style="font-size: 16px;"><strong>Joint Venture </strong></span></div> <div> In the 1990’s the Sri Lankan Bank of Ceylon opened a joint venture bank in Nepal. However the Sri Lankan bank withdrew later due to what they call as unfavourable circumstances. Presently some commercial banks operate between the two countries. Commercial Bank of Ceylon, Sri Lanka and some of Nepal’s private sector bank have close links. In October, 2013 delegation of Commercial Bank of Ceylon, Sri Lanka visited Nepal. Nepal Sri Lanka Chamber of Commerce has been established for easing joint ventures and trade between both nations. Nepali investors have invested over $ 200 million in Sri Lanka’s hotel and leisure sector like the Hotel Taj Samundra and Grand Oriental Hotel. Binod Chaudhary of Chaudhary Group is planning to invest US $ 100m for setting up cement plant and some leisure projects in coastal area of Sri Lanka. </div> <div> </div> <div> <span style="font-size: 16px;"><strong>Joint Economic Commission</strong></span></div> <div> Nepal and Sri Lanka has signed an Agreement on March 2-4, 2009 to establish Joint Economic Commission to be led by the Foreign Ministers of both countries. The agreement contains provisions for cooperation in areas of trade, finance, agriculture, industry, development of infrastructure, science and technology, investment and other matters mutually agreed upon. The first meeting of JEC is to be held in Colombo.</div> <div> </div> <div> <span style="font-size: 16px;"><strong>Exchange of Visits</strong></span></div> <div> Exchange of high-level visits from both sides at various levels has contributed in elevating existing bilateral relations to new heights and have proved highly productive for creating an conducive atmosphere for upgrading mutual trade and commercial relations.</div> <div> </div> <div> <img alt="Highlights of Nepal- Sri Lanka Relation" src="/userfiles/images/br4%20(Copy)(1).jpg" style="width: 550px; height: 565px; margin-left: 10px; margin-right: 10px;" /></div> <div> </div> <div style="text-align: center;"> <hr /> <p> <strong style="font-size: 18px;">“We are entering into tourism cooperation with Nepal”</strong></p> </div> <div> <div> </div> <div> <table align="right" style="margin: 0px 0px 0px 10px;" width="25"> <tbody> <tr> <td> <img alt="W.M. Senevirathna, Ambassador of Sri Lanka to Nepal" src="/userfiles/images/br1a1%20(Copy).jpg" style="border-width: 0px; border-style: solid; width: 200px; height: 233px;" /></td> </tr> <tr> <td bgcolor="#FFFFFF"> <div align="center"> <div> <strong>W.M. Senevirathna</strong></div> <div> <em>Ambassador of Sri Lanka to Nepal</em></div> </div> </td> </tr> </tbody> </table> <div> <span style="font-size: 14px;"><strong>How is your experience in diplomatic career? </strong></span></div> <div> I have come to serve in Nepal, one of the world’s beautiful landmass filled with hospitable and friendly people. Sri Lanka and Nepal both have lot of similarities like culture, religion, food, friendliness and hospitability. I joined government service first as a graduate teacher in 1979 in Vidumina Piriven College, Kandy and joined the Sri Lanka Foreign Service as an Assistant Director at the Ministry of Foreign Affairs, Colombo in 1985. Since then, I have worked in ten Sri Lankan diplomatic missions including West Germany, Pakistan, Malaysia, Lebanon, USA, Canada, and Iraq. I have served as Sri Lankan ambassador to the Philippines, Israel and Nepal. </div> <div> </div> <div> Apart from this I have worked at the Ministry of External Affairs of Sri Lanka for a short period. I was the Vice Chairman (2006) and Chairman (2007) of the Governing Board of the Colombo Plan Staff College for Technician Education (CPSC) in Manila. I have represented Sri Lanka in various regional and international conferences such as South Asian Association for Regional Conferences [SAARC], World Bank, International Natural Rubber Organization [INRO] and Asian Regional Forum [ARF]. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>You have been in Nepal for nearly a year now. How are your impressions? </strong></span></div> <div> During this time I have met and interacted with Nepal’s senior government officials, politicians, diplomats, and businessmen and exchanged views at various levels. Within this one-year tenure, many high level delegations from Sri Lanka have visited Nepal, especially Lumbini. </div> <div> </div> <div> Nepal is such a beautiful country filled with lots of historical sites, mountains, and other natural resources. During my stay here, I have travelled to different parts of this country; Pokhara, Lumbini, Chitwan. I have trekked from Nagarkot to Dhulikhel and done rafting in Trishuli and Dolalghat. I have visited Chitlang and had an opportunity to interact with the friendly people of the village. I have also visited historical places such as Bhaktapur, Durbar Square that have masterpieces of skilful architecture, sculptures, and well-preserved ancient monuments that represent the living cultural heritage of Nepal. </div> <div> </div> <div> <span style="font-size: 14px;"><strong>How do you evaluate the last elections and where do you see the country heading to next? How will the polls and the outcome affect regional peace and stability and Nepal’s relations with Sri Lanka?</strong></span></div> <div> The Constituent Assembly election held on 19th November 2013 was a new step towards the development of the country. The election was conducted in a very peaceful environment and was appreciated by local and foreign observers. Asian Network for Free Elections [ANFREL], Carter Foundations and other observers from different countries took part. The Nepali government had invited SAARC observers to visit and observe the election. Two delegations from the Sri Lankan Election Commission had observed the election. Out of the total 12.1 million population, 9.4 million people casted votes. It is a turnout of 78%, which is very high. As the election was a success, the constitution of Nepal can be finalized.</div> <div> </div> <div> As a representative of the Sri Lankan Government, we respect Nepali people’s mandate. Political stability will enhance peace and socio economic development of a country. Nepal Stock market Index NEPSE passed 700 points after the election. This reflected investors confidence in the government.</div> <div> </div> <div> Benefits of the election include inflow of Foreign Direct Investments [FDI] and representation in regional and international conferences, such as hosting the SAARC Summit in the coming year.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Despite signing bilateral trade agreement in 1979, business between the two nations is quite low, less than 2 billion NRs in the last financial year [exports and imports together]. Why still insignificant?</strong></span></div> <div> Trade between the two countries has remained at a low level. The Sri Lankan and the Nepali government have taken important steps in the economic and tourist sectors with an aim to increase the volume of bilateral trade, investment and tourism. Various issues have limited bilateral trade between both countries. Limitations include the high cost of transportation and lack of direct air connectivity. These limitations have limited the volume of import and export. Both countries produce and export the same crops and commodities. However, Sri Lanka imports carpets, woollen clothes and lentils from Nepal and exports cocoa, cocoa preparations, table and kitchenware, tea, gem and jewellery to Nepal</div> <div> </div> <div> <span style="font-size: 14px;"><strong>What specific measures do you suggest for enhancing the business relations and total value and volume of business between the two nations?</strong></span></div> <div> The total value and volume of trade between the two nations is not satisfactory due to the various reasons. Primarily we would like to have direct air connectivity and an exchange of business delegations to attend trade fairs. Recommending each other to attend trade fairs business forums in each other’s capital will help to interact and promote business.</div> <div> </div> <div> I am pleased to announce that the Chaudhary Group, Nimbus, Youth Entrepreneurs, and Sagarmatha Insurance have already taken steps in this regard. They have visited Sri Lanka and taken part in business forums to extend their business. Similarly, various Sri Lankan companies are taking part in Nepali trade fairs to expand their business here.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Arrival of Sri Lankan tourists to Nepal, especially to Lumbini, has crossed 75,000 a year. What trends and numbers you expect in near future? How can Nepal tourism be promoted in Sri Lanka?</strong></span></div> <div> As you are perhaps aware, 70% of the Sri Lankan population is Buddhists. Being Buddhist, they would like to see the birthplace of Prince Siddhartha, “Gautam Buddha” with the excavation at the Mayadevi Temple, Lumbini. Sri Lankan visitors are keen to visit Lumbini, Nepal and want to experience the beauty Nepal offers.</div> <div> </div> <div> We are in a process to enter into tourism cooperation agreement with the Nepali government so that it will be easy for Sri Lankan tourist to visit Lumbini.</div> <div> </div> <div> Through tailored tour packages to Lumbini and historical Buddhist places, Nepal can attract Sri Lankan and other nation tourists. More than 5000 Sri Lankan tourist visit to Kathmandu by air and I would like to inform that Sri Lanka Tourist are the number one travellers to Lumbini. If tour packages and facilities are provided, we hope to see the numbers exceed 1000,000.</div> <div> </div> <div> The Sri Lankan Embassy in Nepal with support of Sri Lanka Tourism Promotion Bureau is arranging a familiarization tour to Sri Lanka for Nepal Tour Operator Association in 2014. I think Nepal should prepare some awareness programme, for example tour packages and other facility to attract Sri Lanka tourists.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>What are the initiatives taken by Sri Lanka to upgrade tourism and facilities in Lumbini?</strong></span></div> <div> Sri Lanka and Nepal signed the Agreement on Cultural Cooperation in 1999,to expand their cultural relationship further. Sri Lanka has agreed to assist Nepal in heritage management and proposed to establish a course on Culture and Heritage Studies at a university in Nepal.</div> <div> </div> <div> Support has been extended for Nepali students to study Therawada Buddhismin Sri Lanka. Sri Lanka re-establishment of Therawada Buddhism in Nepal. In 1992 a pilgrims resting place, “Dutugemunu Pilgrim Rest,” was established for in Lumbini for the Sri Lankan devotees. This wasrenovated in 2012 to accommodate over 135 visitors. A bridge close to Lanka Ramaya temple at gate no. 4 of the Maya Devi Temple was constructed to making it easy for visiting the temple. Adding to, the road near the Sri Lankan Temple, which is shortest access to Mayadevi Temple, was widened. The Sri Lankan Government spent SLRS 90 million on all these projects to facilitate Sri Lankan tourists visit to Lumbini.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>There has been an air service agreement between the two nations for more than 25 years, which was upgraded recently as well. What is its status and what are the benefits of having fifth freedom rights for Sri Lankan airlines?</strong></span></div> <div> Bilateral Air Service Agreement was signed during H.E. the President’s last visit to Nepal in March 2009. Lack of direct air connectivity between the two countries is one of the major barriers in promoting trade.</div> <div> </div> <div> Code Sharing Basis will facilitate both Sri Lankan and Nepali airlines, to travel to each other’s countries. The fifth freedom right will enable Sri Lankan airlines to get passengers of other destination as well. Sri Lankan government would like to commence air connectivity in the near future and discussions in this regard are being held.</div> <div> </div> <div> Joint Economic Commission between the two nations was formed a few years earlier. What roadmap and outcome you see of the same in the next two years?</div> <div> We signed the MOU on Nepal – Sri Lanka Joint Commission in March 2009. Both countries have agreed to hold the first Joint Economic Commission meeting in Sri Lanka. We hope to conduct annual Joint Economic Commissions meet in each other’s capital.</div> <div> </div> <div> <span style="font-size: 14px;"><strong>Sri Lanka has a small population, history of civil war, and difficulties in its relations with neighbours, much like Nepal. What suggestions you have for the building of new Nepal, in light of the Sri Lankan nation-building and development experience? </strong></span></div> <div> Sri Lanka’s population is 21 million. There was no civil war in Sri Lanka but a terrorist war. Beginning on 23 July 1983, there was an insurgency against the government forces by the Liberation Tigers of Tamil Eelam [LTTE] which fought to create a separate and independent Tamil state called Tamil Eelam . 12% of the population demanded 2/3 of Coastal area and 1/3 of the total Area of the country. Government’s main policy was ‘One Country and One Nation’. After a 30 year military campaign, the Sri Lankan military defeated the Tamil Tigers in May 2009, ending the terrorist war. </div> <div> </div> <div> For over 30 years, this terrorist war caused significant hardships for the population, environment and the economy of the country. An estimated 40,000 people were killed during the war but Sri Lanka was able to sustain over 6% economic growth rate.</div> <div> </div> <div> During the conflict period, the Sri Lanka government was able to attract Foreign Direct Investment that prioritized infrastructure development. For nation building, President of Sri Lanka requested all political parties to join hands with the government to overcome national problems. This succeeded in 2009. All political parties supported the government for boosting national economy by forgetting their political differences. As a result, Sri Lanka has positive indicators. </div> <div> </div> <div> I wish the newly elected member of the Constituent Assembly of Nepal could get together and join hands for the formation of a stable government and serve the people of this beautiful country.</div> </div> </div> <p> </p>', 'published' => true, 'created' => '2014-02-20', 'modified' => '2014-02-20', 'keywords' => 'new business age bilateral relations news & articles, bilateral relations news & articles from new business age nepal, bilateral relations headlines from nepal, current and latest bilateral relations news from nepal, economic news from nepal, nepali bilateral relations economic news and events, o', 'description' => 'Diplomatic relations between Nepal and the Democratic Socialist Republic of Sri Lanka established 57 years ago on 1st of July, 1957. Both the Countries are bound by warm and friendly economic, cultural and political relations.', 'sortorder' => '2483', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ), (int) 14 => array( 'Article' => array( 'id' => '2642', 'article_category_id' => '80', 'title' => 'Degrading Higher Education System', 'sub_title' => '', 'summary' => null, 'content' => '<div> </div> <div> <div> <strong>--By Narayan Prasad Paudel</strong></div> <div> </div> <div> Higher education in Nepal has drawn massive attention and concern from various communities across the nation. If higher education system of the country is reliable, quality conscious, functional and market and need driven, it ultimately serves the greater need of the aspirant youth of the country in materializing their dreams with upgraded level of skill sets that correspond to the rising market potentiality. Nepali youths are facing many problems due to the substandard quality of education provided by most of the education institutions. The focus of education in Nepal is mass-and money-driven, rather than quality - and outcome - driven. Due to serious limitations and lack of focus on the employability of its products, Nepal’s education system is more or less, except for a few exceptions, unable to create hope and happiness across the larger segment of the Nepali society.</div> <div> </div> <div> <span style="font-size: 16px;"><strong>Universities and their focus </strong></span></div> <div> As of today, Nepal has nine different universities (TU, KU, Pokhara, Purbanchal, Sanskrit, Buddhist, Agriculture, Mid Western and Far Western ) providing higher education. Among these, the oldest and the biggest is Tribhuvan University (TU), established in 1959 by the government, is providing higher education to more than 450,000 students.</div> <div> </div> <div> Sanskrit University, established in December 1986, operates from its central office in Dang district. Kathmandu University (KU), established in 1991, is providing higher education to 4,000 students in its own constituent campuses and 7,500 students from its affiliated colleges.</div> <div> </div> <div> Pokhara University, established in 1997 as Nepal's fifth University, has provided higher education to more than 25,000 students through its affiliated campuses. Purbanchal University established in 1993, operates from its head office in Biratnagar. Along with these two regional universities, Mid Western and Far Western Universities provide higher education in their respective development regions. </div> <div> </div> <div> Besides them, the Agriculture and Forestry University (AFU) and the Lumbini Buddha University (LBU) are other two universities established in Nepal.</div> <div> </div> <div> <span style="font-size: 16px;"><strong>Current Scenario</strong></span></div> <div> All these universities claim of having good curriculum structure, academic infrastructure and suitable academic environment. Though most of them claim of contributing their best to higher education in Nepal, in reality the scenario is not exactly the same as stated in their documents. </div> <div> </div> <div> <span style="font-size: 16px;"><strong>Curriculum and focus of Faculties </strong></span></div> <div> Talking about the structure of academic curriculum of these universities, except in few cases, there are plenty of shortcomings. This includes repetition of the same courses at different level of academic programmes. </div> <div> </div> <div> Most courses of many of these universities, developed long back, are still in use without timely adjustment to make them, in line with other foreign universities. Most of the courses, are less market - and need driven and more theory oriented that overweight practical courses. </div> <div> </div> <div> Hotchpotch design of the curriculum that ignore the substance and relevance of the subject matter are some of the apparent weaknesses of the curriculum structure in different Universities in Nepal. </div> <div> </div> <div> However, few of the academic programmes e.g. Institute of Medicine, Institute of Engineering and few of the MBA programmes in the country have been able to blend all the necessary requirement in their curriculum and hence are able to attract and motivate national as well international students.</div> <div> </div> <div> Irresponsible academicians are also huge problems in Nepal. For example, some university professors do not entirely contribute time and energy to their own academic institutions as committed by them and as mentioned in their terms of reference (TOR). This trend has resulted in the creation of many helmet professors, unprofessional consultants and development activists, at the cost of academic professional values. </div> <div> </div> <div> <span style="font-size: 16px;"><strong>Politics in the Universities</strong></span></div> <div> Many academicians forget their own status and keep in frequent touch with political activist and leaders. They think that they would be rewarded by being appointed for attractive academic and non-academic moneymaking and to so called higher ladder positions in different institutions like vice chancellors, registrars, deans, campus chiefs, advisors, ambassador etc. This greed of the academic community has ultimately exploited themselves as they lose their most productive time in unproductive appointments. </div> <div> </div> <div> We all know that all our universities are ultimately governed by the government. Using the power of governance the Prime Minister (Chancellor) appoints senior leaders of the universities (e.g. Vice Chancellors)on the basis of the prospective candidate’s inclination towards a particular political ideology and the volume of financial contribution that the candidate can make to the political party that the Prime Minister belongs to. Ultimately, the nearer and the dearer of the Prime Minister get appointed to the prestigious position of the vice chancellors. If we examine, the history, except in a few cases, most of the university leaders have attempted to make such appointees happy with exhibiting extra loyalty towards them. </div> <div> </div> <div> As a result the rest of the leaders of the universities including the registrar, dean, department head, campus chiefs are appointed on the basis of instructions given by political leaders and government authority. They start polluting the institution by hiring faculties on contract by not announcing vacancy through public notice. These rampant contract appointments are made at different layers of the academia on the basis of personal relations and by ignoring the competent public masses that could have been selected, if the selections were made through competitive process. And these are ultimately given permanent position as well. </div> <div> </div> <div> Consequently prospective and qualified teaching professionals are denied the opportunity to teach while incompetent faculties appointed against the principles of good governance and with sub standard quality, provide sub-standard education and affect entire performance of the university. This practice, rampant and prevalent in every academic institutions and universities in Nepal, has caused continuous loss of confidence on these institutions. </div> <div> </div> <div> <span style="font-size: 16px;"><strong>Influence of Student Unions </strong></span></div> <div> Irresponsible activities of the student unions in most of the universities have also resulted in the delivery of sub standard quality and performance of academic programmes. In most cases student union leaders force innocent students to participate in their political activities. Based on instructions provided by the union leaders, students forgo their regular learning activities, involve in activities of political parties and lose their productive time and resources. Otherwise, they would have devoted that time to build their learning ability and gained skills expected by their prospective employers and thereby build basis to lead their dream life. </div> <div> </div> <div> <span style="font-size: 16px;"><strong>The way forward </strong></span></div> <div> Neither political leaders nor government institutions are responsible, nor the academic communities, teachers and students at large, are honestly eager to maintain and upgrade the integrity of the national academia. We are losing our face in the international academic community. Substandard outcome of these programmes has ultimately resulted into greater un-employability, which has led to anxiety, frustration, and depression among the youth and forced them to migrate abroad for employment in menial jobs. </div> <div> What would be the panacea for the aforesaid problems? The ultimate answer is commitment, dedication, and greater focus on responsibility and accountability, from all stakeholders. This would ultimately refine prevailing degrading professional practices rampant in our education system. We all need to improve ourselves, firstly be removing unwanted greed for money and power and secondly by uplifting our professional competencies and qualities through lifelong learning. Faculties need to focus on training, exposure activities, research and publications that would positively contribute to the overall performance of entire community. Society should play greater role to correct the unwanted behaviour of concerned authorities through constant review of an institution’s performance and activities. Government should build highest level of integrity and morale. Government leaders should be free from the unnecessary greed for power and resources. </div> <div> </div> <div> The crux of the problem is our political system, which needs to be overhauled. All political leaders need to frame their role model behaviour and should attempt to exhibit and practice in real life. They should hesitate to infiltrate pure academic environment with party politics, otherwise they would be entirely held accountable for the degrading academic performance. We can refine the political machinery of the nation, if we all have strong commitment to uplift academic height in line with developed countries. The principle of sacrifice and contribution should be embedded in the performance of both political and academic leaders.</div> <div> </div> <div> <em>(Narayan Prasad Paudel, Ph.D, is Assistant Professor, Kathmandu University School of Management. Email: narayan@kusom.edu.np.)</em></div> </div> <div> </div>', 'published' => true, 'created' => '2014-02-20', 'modified' => '2014-02-20', 'keywords' => 'new business age business education news & articles, business education news & articles from new business age nepal, business education headlines from nepal, current and latest business education news from nepal, economic news from nepal, nepali business education economic news and events, ongoing', 'description' => 'The focus of education in Nepal is mass and money driven, rather than quality and outcome driven.', 'sortorder' => '2482', 'image' => null, 'article_date' => '0000-00-00 00:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '0' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Currency | Unit |
Buy | Sell |
U.S. Dollar | 1 | 121.23 | 121.83 |
European Euro | 1 | 131.65 | 132.31 |
UK Pound Sterling | 1 | 142.47 | 143.18 |
Swiss Franc | 1 | 124.29 | 124.90 |
Australian Dollar | 1 | 71.69 | 72.05 |
Canadian Dollar | 1 | 83.90 | 84.32 |
Japanese Yen | 10 | 10.94 | 11.00 |
Chinese Yuan | 1 | 17.17 | 17.26 |
Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
UAE Dirham | 1 | 33.01 | 33.17 |
Malaysian Ringgit | 1 | 27.36 | 27.50 |
South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
Fine Gold | 1 tola | 77000.00 |
Tejabi Gold | 1 tola | 76700.00 |
Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
Petrol | 1 Liter | 106.00 |
Diesel | 1 Liter | 95.00 |
Kerosene | 1 Liter | 95.00 |
LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25