Business that Benefits the Society Social entrepreneurship is gaining momentum in Nepal although it is relatively a new phenomenon (Newbiz April 2014). Enterprises and entrepreneurs have a stereotype image as profit makers among public. And, it is not untrue. However, as any type of entrepreneurship, it is also about doing business and it should not refrain from making profit. They do make profit but the profit is not limited with the entrepreneur. Profit is shared among a large group of people. And the sharing need not to be necessarily in monetary terms but also can be in terms of social benefits and welfare.
Social entrepreneurship is also about innovating products and services that are beneficial to the society, economy and the environment. It is also an enterprise with none or minimum negative cost to the environment and people. It rather adds value to the existing system, enhances what is there already rather than degrading. Along with creating new products and selling those to people, social enterprises tend to solve problems of the people at grassroots.
A social entrepreneur may not make as much money as a commercial entrepreneur, but s/he definitely creates more benefit. Thus, the recognition and satisfaction of doing such business could be overwhelming. In the case of Nepali social entrepreneurs, they have created benefits and created enterprises of their own kind. Though they have not become large, they are growing and creating welfare wherever they are based. Due to new concepts, ideas and innovation, fresh people instead of heirs of business tycoons are entering into this sector. This trend ascertains its scope for growth and innovation. However, social entrepreneurship should not be taken as a different breed of business. The mainstream commercial business too could be equally responsible.
- Amol Sharma, Tikathali
Self-Evaluation at Work
Budhha’s Delight column on April 2014 issue of New Business Age titled, ‘Don’t count your chickens before they are hatched’ was really a delight to read. Everyone at a point of time thinks of evaluating his/her position and achievement at workplace. One may even find that he/she is being undervalued at work. At such times, an employee is constantly thinking of quitting the current job and jump to a new workplace. At times workers are heard saying, “We sometimes feel that our bosses are aliens without any idea how the modern world works and always hassle us from their ivory tower.” That’s quite a true statement. But, this doesn’t necessarily mean we take big decisions that we may have to regret later on. It is necessary to envision years to come and work accordingly. It is always necessary to start with baby steps rather than trying to run.
- Naren Chhetri, Sankhamul, Kathmandu
The ‘Goodbye’ Trend in Banks
With CEOs leaving the banks every now and then, this seems to be the latest trend in Kathmandu. We can only hope this to be a momentary phenomenon rather than a movement. We all can evaluate how such actions can have a deep effect on the overall banking sector. It all seems to be a result of NRB’s decision to put cap on perks and salaries of the bank CEOs. However, this new trend has provided opportunity to second-layer bank officials to rise to the top spot. While NRB states that this act of leaving will hamper the overall BFIs, CEOs of banks have a varied opinion. Whatever be the reason, there should be an end to this new trend.
- Abhishek Timalsina, Itahari
MSS Clarifies
This is in reference to the news story “Sewa Mantra in Business: Marwadi Sewa Samiti” published in the April issue of New Business Age. We want to add some more facts to the story.
The Samiti was formed by nine youth belonging to Marwadi community who were actively involved in providing relief package to victims in the 1934 earthquake. Inspired by the social appreciation for the relief activities, the nine youth formed Marwadi Sewa Samiti in 1935. The news missed the name of Babulal Tibdewala, founder of the Samiti.
The Samiti has continued its main motto “Sewa Hi Parmo Dharma” since its establishment. It still provides various social services including free ambulance service, free drinking water, Homeo Chikitsalaya, free medicines distribution to the needy people, blood donation, free health camp, relief programmes during natural disasters along with others. Further, Marwadi Sewa Samiti is committed in providing social services. But, the Samiti is in no way profit-oriented. The news has inappropriately linked the organization with profit.
- Kailashchandra Goyal, General Secretary, Marwadi Sewa Samiti Nepal
Our intention was not to link Samiti with profit and we have not even linked the Samiti with profit activities. Some paragraphs which were prepared for other section of the story were inadvertently included under the heading “Sewa Mantra in Business: Marwadi Sewa Samiti”. We regret the error.
- Editor
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