Nepal Management Symposium '11 Shankar Hotel, Lazimpat, Kathmandu

Emerging Industry of Microfinance and Opportunities by Sujan Karki SME & Microfinance Expert PlaNet Finance (Nepal)

2^nd he discussed about Planet Finance Consortium followed by the following points.

1. PlaNet Finance provides technical assistance and advisory services to microfinance players and stakeholders
2. Planet Rating is a microfinance rating agency
3. PlaNIS is specializing in advisory services, structuring and managing microfinance funds
4. MicroCred is an investment company in microfinance
5. PlaNet Guarantee is the organization's expert unit in micro-insurance
6. FinanCités a venture capital company with a social mission, invests directly in micro-entrepreneurial projects in deprived urban areas
7. PlaNet University is PlaNet Finance's microfinance training center

3^rd he discussed about Introducing Microfinance in two ways minimalist approach & integrated approach. Then he finally concluded as Microfinance has evolved into a global industry with diverse opportunities for students and young professionals. If you can relate your long term objectives with the mission to fight poverty and make an impact, microfinance can be a fascinating industry to work in.

Entrepreneurship and social business

The second session for Entrepreneurship and Social Business started at 12.00. I would like to list the presenters of the session.

1. Mr. Vaibhaw Poddar – MD, HimalayanTechies & khumbaya.com

2. Mr. Allen Biochan Tuladhar- CEO, Unlimited Technologies Pvt Ltd, Country Manager-Microsoft MDP Nepal

3. Ms. Vaijayanti Khare – Head-operations, CG

4. Mr. Surath Giri – Research Officer – Samriddhi, The prosperity foundation

5. Ms. Ambika Shrestha – Dwarikas Hotel

The Moderator for the session is Ms. Vaijayanti Khare. She started the session calling the panelist for their seats, and put the question to the participants. “What is Entrepreneurship?” The answer started popping out from the mass as “Doing something innovative”, “Creating own business.” And she handed the microphone to Mr. Vaibhaw Poddar.

He started the session with the same question adding one more question “What should be taught in schools?” again the answers were, Leadership skill, Research habits, Problem based learning, Conflicts management, Schools Should be more focused on practical studies. Were few answers from the Participants.

Even Next question rose up. What is necessary for Entrepreneurship? Some answers were:

· How to manage conflict?

· How to take risk?

· How to manage people?

· How to get organized with people?

· How to work in Team?

Shifting the topic Towards Entrepreneurship within Microsoft Mr. Allen Bolchen Tuladher talked about various topics like Microsoft Innovation center Nepal, Phone/Yogita, Start-Up Weekend. He had started with the question “What Do you Know about Microsoft?” and few answers were as “Basic Need of life.”

Institutionalising MSME Lending in Commercial Banking of Nepal

The moderator for this session of Economics, Banking and Finance is Mr. Sohan Babu Khatri, who is the CEO of “Three H Management”. He started his speech with his short introduction along with his presentation about “Institutionalising MSME Lending in Commercial Banking of Nepal”. He completed his BE Civil from Pulchowk Campus, MBA from Banglore University. He told us about Small and Medium Enterprises (SMEs) play a major role in economic development, particularly in emerging countries. In the context of the international development agenda, and given the critical importance of job creation in the recovery cycle following the recent financial crisis, promoting SME development appears to be an important priority.

Moving informal businesses into formal form would be the challenge and its worth taking this challenge.He also included that often, the non-financial and financial barriers can be correlated, and this relationship may be strong in some cases. There can be a cutoff point to decide whether to extend credit or not…..

Focus on Entrepreneurship

The speaker Mr. Restha Jha, CEO of Prime Life Insurance, started his speech focusing on entrepreneurship. Entrepreneurship is all about adding value. If value is not added, it’s not entrepreneurship. There are many sector available wht we need to do is to think out of the box. Banking is also good but there are other lots of sector from where we can start our carrier. To start a business, it is first necessary to understand the background of that area where you are going to start your business.

Lots of other sector like farming, agriculture, herbs, tourism and so many other sectors are here in Nepal for to start a business. It is essential to understand about Nepal. Before taking any steps or jumping into any action, we need to understand our economy. Banking is a mirror. If there is good thing in economy, its impact is seen in banking and if economy is not in good condition that too, is seen in banking. He told us to look for the opportunity for economic growth that can be anything like banking, tourism, farming,

Day Three: CORPORATE TALKS

Leveraging Technology for Creating Leadership Impact

Facilitator Dr. Bibek Banerjee
Director - IMT, Gaziabad
Marketing & Economics - IIM Ahemdabad
Moderator Ms. Vaijayanti Khare
Head - Operations
Chaudhary Group

TOPIC BRIEF

Over the history of mankind, technology has always played the role of a force that
irreversibly changes ‘ways of doing business’ – that connects and/or creates discontinuities in the civilizational ecosystems. Technology creates a level playing field on occasions, and at times is a rude death knell for some enterprises or even economies. This fact is evident throughout our history right from the industrial revolution, to the silicon era, to the internet age and to the current age of network communications, convergence and mobile living.
The erstwhile advanced economies like US, UK, Germany, and Japan have been at the forefront of combining innovation and technology. This has enabled them to become superpowers that have the economical, defensive and financial muscle. However, technology has also created a level playing field with the rise of telecommunications and the internet that emerging leaders like India and China are leveraging fuelled by favourable demographics with technology. These economies have shown that leveraging technology is often a savior during recessionary economic cycles, as it enables the creation of more efficient business models and ecosystems of value.
Currently cloud computing is a game changing phase of IT that is not only impacting the way computing services are and will be delivered but also the way in which users will use IT. The Cloud promises several benefits in commercial and technical terms but the challenges too need to be considered when planning for cloud adoption. But one thing is inevitable that businesses will need to redefine themselves to better cope with the implications of cloud services.
In his talk, Dr Banerjee will talk about why and how roles of the leadership need to
leverage technology better to stay relevant in the changing context of the age of techno-
communication driven networks. He will focus on the changes traditional marketing concepts and practices need to ring-in, in order to truly understand the present scenario, manage risks, and innovate with a vision to create value systems that herald the next decade of leadership.

PROGRAM DETAILS
Time, Date and Venue
4:30 PM, May 22nd 2011
Kailash Hall
The Shanker Hotel, Lazimpat
Program Flow
4:15 PM- Entrance closes
4:30 PM- Program starts
Presentation by Dr. Banerjee
Q &A
7:30 PM - Cocktail dinner
Fees
Rs 2,500/- net per person
Contact 9851092068 (Rabi)/ 9841466288(Prashant) for booking and details.

Economics, Banking & Finance

The speakers are Mr. Sohan Babu Khatri (the moderator and CEO of Three H Management), Mr. Sanjib Subba(CEO of National Banking Training Institute), Mr. Sujan karki(SME and Micro Finance Expert, Planet Finance), Mr. Rameshwor khanal(Ex-secretary, Ministry of Finance), Mr.Resta Jha(CEO, Prime Life Insurance) And Mr.Rajendra B Bahadur(Head-credit, DCBL Bank Limited).

The moderator for this session, Mr. Sohan Babu Khatri, is the CEO of Three H Management.

Sanjib Subba(CEO at National Banking Training Institude)

The speaker Sanjib Subba started his speech with the energetic good morning. He started with banking career with Standard Charted Bank and now it’s almost 9 year. In 1999, the scenario in the banking was very slow. He says that Nepalese talents are one of the best talents in the world. What we need to do is to focus, we need to have goal and obviously important thing that’s passion. Nepal is the 48^th largest populated country in the world. The average age of the country Nepal is 21. He also concluded that Nepal can be a very good breeding ground for multinational companies.

Entrepreneurship is another way for young youths for the opportunity. There was an interaction with one of the participant “Sangita” who was running her MBA and after that her plan is to start her own business and become a good entrepreneur of Nepal. He also told us that there is other a lot of opportunity in the banking sector, tourism and entrepreneurship too. He finish his speech by saying Nepalese youth are filled of capabilities but what they need to do is to set the goal, focus on that, and grab the opportunity with potential.

Mr. Sanjeev Subba’s Focus on Life Goals

The program was held by KCM (Kathmandu College of Managment) in Shanker Hotel situated at Lazimpat. It started exactly at 9:00 A.M. It went off with a brief introduction of each and every individual of members who were present here as speaker who wore working as Banker & Financer. The speakers who were presents here today to talk on the topic Economic, Banking & Finance.

The persons who were present here as the speaker are as, follows:-

1. · Mr. Rameshwor Khanal – Ex-Secretary, Ministry of Finance
2. · Mr.Resta Jha – CEO, Prime Life Insurance
3. · Mr.Sanjib Subba – CEO, National Banking Training Institute
4. · Mr. Sohan Babu Khatri – CEO, Three H Management
5. · Mr. Sujan Karki – SME & Micro Finance expert, Planet Finance
6. · Mr.Rajendra B Bahadur – Head-credit DCBL Bank Limited.

Firstly, Mr. Sanjib Subba was the speaker and he started up with a huge GOOD MORNING. He asked the participants aloud with an energetic manner. He says that the Nepalese talent are the best in the world and again he adds giving high emphasis on - “Don’t underestimate yourself “ telling Nepali people to be strong within themselves to achieve their goal with strategic formulation & strategic execution taking both of them parallelly. He also says that we should be creating our own opportunity by enlightening ourselves. He wants us to take the challenge for entrepreneurship & be strategic, set a goal & work on. Asian Development Bank is the grand partner of Mr.Sanjib Subba. He also includes that before few years when he was out for a while there were only 6 banks in Nepal but now after when he returns there are about 31 banks in Nepal. He again adds that its good for the country to have banks, plus its like the country of bank. He includes that banks are profit motive, career development & country development. He gave an interview on Kathmandu Post about these facts.

After a short while of discussion he asked the audience few questions. For an instance, Sangita who was studying MBA. He asked her a question that –“what is our goal for the future?”, the answer was that- “ I would finish my MBA & join a business or be a banker & soon I’ll be getting a BMW after few years.”.

This was all from him and then soon he called upon Mr. Sohan Babu Khatri :- CEO, Three H Management to discuss on the same topic.

Banking Scenario in Nepal

The first session of Nepal Management Symposium 2011 (Day 2) started with Mr.Sanjib Subba’s inspirational speech. Mr.Subba is the CEO of National Banking Training Institute. He has 9 years of experience in banking sector. He started his session giving a glimpse of the scenario of banking about 10 years back. According to him, the scenario of banking was very slow in 1990s.

According to Mr. Subba, Nepalese talents are among the best talents in the world. People should understand their self-worth and not underestimate their talents. People around the world are eager to hire talented assets. People just need opportunities to prove themselves and their capabilities.

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In the global scenario, Nepal is the 48^th largest populated country in the world, with an average age of just 21 years. The young population of the country should try to connect job opportunities in their life. Nepal has the best talent available. All we need is the little effort to be able to identify ourselves and identify where we stand. Entrepreneurship is equally important. The potential youth should be encouraged to participate. Only when people become busy in their work, stability is possible. Nepal’s placement in between two economically strong countries, India and China, should be taken as an opportunity. Nepal is still in initial stage in terms of economic growth. Therefore, the main focus of Nepal and Nepalese people should be to be optimistic and realistic.

With this encouraging and powerful presentation, Mr. Subba concluded his presentation and then started the feedback session. In this session, the participants were asked to put forward their queries and confusions.

Mr. Sohan Babu Khatri, CEO of Three H. Management, summarized Mr. Sanjib Subba’s presentation via following points:

Ø Focus on purpose of your own.

Ø Do not underestimate yourself and your capability.

Ø Open up all your senses so that you are able to visualize what is taking place in your surrounding.

Ø Nepal has so many hidden factors that can be used to win over other countries.

Ø Focus on entrepreneurship.

Ø Risk taking capability of Nepalese is less due to cultural background and mentality of people.

Ø Be willing to take responsibility.

Ø Don’t just blame others.

Ø Stability is based on mindset. If mindset is right, circumstances will be right eventually.

Emerging Industry of Microfinance and Opportunities

Sujan Karki(SME and Micro Finance expert, planet Finance)

The speaker Sujan Karki started the session along with his introduction and presentation of emerging industry of microfinance and opportunities. He completed his BBA from Kathmandu College of Management. He is now SME and Micro Finance Expert, Planet Finance. He give short introduction about PlaNet Finance Group, which is a leading international aid organization with the mission to alleviate poverty through the development of microfinance, therefore increasing the unbanked and underbanked’s access to financial services. He defines microfinance as the board range of financial services to the poor to improve the living the living standard in a viable and sustainable manner.

He also included about opportunities for students and young professionals in which studies and research, internship, volunteer, your own initiative, leadership opportunities, innovative industry to work in. At last his conclusion was Microfinance has evolved into a global industry with diverse opportunities for students and young professionals. If you can relate your long term objectives with the mission to fight poverty and make an impact, microfinance can be a fascinating industry to work in.

Small & Medium Enterprises

Secondly, Mr. Sohan Babu Khatri, CEO of Three H. Management, summarized Mr. Sanjib Subba’s presentation via following points:

1. Focus one purpose of your own.

2. Do not underestimate yourself and your capability.

3. Open up all your senses so that you are able to visualize what is taking place in your surroundings even with your 6^th senses.

4. Strategic formulation & strategic execution of plan should b parallel taken

5. Nepal has so many hidden factors that can be used to win over other countries.

6. Focus on entrepreneurship.

7. Risk taking capability of Nepalese is less due to cultural background and mentality of people.

8. Be willing to take responsibility responsibly.

9. Don’t just blame others.

10. Stability is based on mindset. If mindset is right, circumstances will be right eventually.

After this he was there for the his presentation on Institutionalizing MSME Lending in Commercial Banking of Nepal. He gave a Background Information about SME which typically encompasses a broad spectrum of definitions across countries and regions. Small and Medium Enterprises (SMEs) play a major role in economic development, particularly in emerging countries. Studies indicate that formal SMEs contribute up to 45 percent of employment and up to 33 percent of GDP in developing economies.The informal sector presents one of the greatest challenges in the SME space, with issues that go well beyond finance. In the context of the international development agenda, and given the critical importance of job creation in the recovery cycle following the recent financial crisis, promoting SME development appears to be an important priority.

2^ndly he describes how to access the Finance through the following points:-

• Key Constraint

• Small firm having access to a bank loan in low-income countries is about a third of what it is for a medium-sized firm, and less than half of what it is for a larger firm.

• Other sources like leasing and factoring are also less developed in emerging countries.

3^rd he discusses about the opportunities through the following points:-

• A recent study by the IFC and McKinsey and Company (McKinsey) suggests that there are close to 365-445 million micro, small, and medium enterprises (MSME) in emerging markets.

• Close to 45 to 55 percent of the formal SMEs (11-17 million) in the emerging markets do not have access to formal institutional loans or overdrafts despite a need for one.

• The finance gap is far bigger when considering the micro and informal enterprises – 65-72 percent of all MSMEs (240-315million) in emerging markets lack access to credit.

• 4^th he discusses about the reasons of the financial access that the SME finance gap is the result of a mismatch between the needs of the small firms and the supply of financial services, which typically are easier for larger firms to access.

Panelists brings Students’ Views on Stage II

Mr. Karmath Dangol is the Vice President of Software Development at Deerwalk. Deerwalk is an IT outsourcing company focused in US Healthcare sector.  Prior to joining Deerwalk, Karmath worked for Javra Software Nepal as General Manager. Previously, he was an Engineering Contractor for the Quantitative Marketing team at Google Inc. He has also worked at eBay Inc. as Senior Manager of Internet Marketing Solutions. Besides this, he was a co-founder of NextAction, a direct marketing company that provides a cooperative database for acquisition marketing to over 700 catalogs (competes with Abacus Direct,a division of DoubleClick).  He holds a degree in Bachelors of Science in Computer Science & Mathematics from Metropolitan State College of Denver and has a unique balance of business acumen and technical skills.

He started with the topic of emerging Technologies (IT) in different fields like communication, web 2.0, cloud computing. How all of these new ideas can give us opportunities was discussed. Some of the global companies in leading technology are Google (started with search and moved onto maps, ebooks and marketing), Apple (products like iPhone, iPad), Facebook (social networking, marketing), Twitter (social networking with 140 characters), Groupon (eCommerce). Companies leveraging emerging technologies in Nepal are: merojob.com (reduced the need of paper application for jobs), foodmandu.com (online order and delivery of food), mysansar.com (sharing of knowledge). The rough estimate is that there are over 200 IT companies in Nepal so there are lot of opportunities in Nepal in IT sector.

Skills, Knowledge and Education (Allen Sir)

Each and every job needs experience, so you need to have the best experience for the job you want. You need to choose a career you are passionate about, get the right skills for the job you want. The skills required for a technology manager are creativity, thinking out of the box, innovation, PASSION, etc. To be successful in the field of technology management are: focus on the extra-curricular activities in order to help students get extra training, internship should be provided to get experience. Guidance from seniors is a major point and knowing the merits and demerits of what you are learning is also important. For technology management, you need to have a good knowledge of information technology and management skills. Finishing schools to help gain knowledge about the thing you want to do in future. In conclusion, one must balance all the knowledge, skills and technology and must be passionate about they are doing. After the speech by one of the group member, the conclusions drawn from all the group members were read out to the audience. The conclusions are:

- Basic education skills in important but should be able to implement is practically.

- Internship programs, balance between technology and management skills.

- Passion is important for success.

- Update oneself with technology and management skills.

- Curriculum should be changed with time.

- Opportunities to show our talent and skills to minimize the gap between managers and employees.

Panelists brings Students’ Views on Stage

Mr. Rasmus Nissen has worked 10 years in telecommunications, most recent working for TeliaSonera’s head office in Stockholm, developing products for the Nordic and Baltic region. Since February 2010, he has been stationed in Nepal, as Head of Product Management in the Commercial division of Ncell – responsibilities to develop the products and services, hereunder 3G network roll out and internet offerings, financial services, VAS, entertainment and content. He handled the topic Challenges of Technology Management in Nepal.

The major questions discussed were:

· Why are some major companies here now?

· Why are some not here?

The possibility of major companies expanding their services in Nepal was talked about. As there is less competition in Nepal as compared to other countries so it’s easier here to start a business. Another thing is universal implementation; the technology that is being used in other countries can be used here as well. The challenges that are being faced are illiteracy, lack of awareness of technology, difficult geographic conditions, not satisfactory power supply and lack of funding. Some other difficulties are low spending probability of people, difficult transportation, bad road conditions and lack of proper communication medium. For the success of a company, employee satisfaction and proper management is required. You need to treat employees properly if the company is to prosper. One of the important things for technical development is the availability of devices to operate on. If you don’t have the proper device like mobile phones and laptops, then use of technology is not possible. So the goal should be on supplying good devices to the people. By giving proper thought to the problems and their solutions, the challenges of technology management in Nepal can be overcome.

Entrepreneurship

Mr. Sanjay Golchha is the executive Director at Golchha Organisation. He got his MBA degree from UK and started business in 1995 in Nepal. With early involvement in the FMCG sector, his passion for IT has made him involved in the IT sector. The companies he founded are, Neoteric Nepal and IT Nepal to cater to different sectors in the IT industry in Nepal which are now Nepal’s leading IT companies. Sanjay Golchha has been involved in various philanthropic and social organizations. He is founding member of Entrepreneurs’ Organization, Round Table Nepal and Himalayan Climate Initiative. He is also member of various other associations: president of Biscuit Manufacturer’s Association and Executive member of Computer Association of Nepal. He talked about Entrepreneurship.

The discussion was on the characters of great entrepreneurs and the common traits between them. The first character of an entrepreneur with IT in mind is the hard working nature. Hard work is the key to success. He discussed on the topic with the help of sayings of famous people. “I have not failed, I have just found 10000 ways that won’t work” – Thomas Edison. “The only place where failure comes before success is in a dictionary.” Failures should be considered stepping stones to success. Second character an entrepreneur should have is Innovator Adaptor. “When one door closes, another one opens” – Graham Bell. Entrepreneurs always look at the opportunity, and try to understand the need of people. “Innovation distinguishes a leader from the follower” – Steve Jobs. The important thing is trying and moving forward. It doesn’t matter where you started; the important thing is where you reach later on. The third quality is the risk taker, learner. “To win big, you have to sometimes take big risks” – Bill Gates. Entrepreneurs go through a huge cycle of failures and success. “It’s fine to celebrate success, but it’s more important to work on the reasons of failure” – Bill Gates. They have the ability to think out of the box but the ability to focus on one once they get locked into that.

Innopreneurs in Nepal:

Muncha.com, eSewa.com, nepabandh.com, QFXcinemas.com, etc., are some of the ideas in the field of IT that have been implemented in Nepal. The things that can be done in Nepal according to the discussion of the one hour can be summarized as localization, doing something old in a new way, use of culture and religion, use of technology is rural side (roaming phone service, telemedicine, telefarming, use of technology to remove illiteracy etc.), selling college notes online, decentralize the capital of country, have virtual casinos, invent teleporting , enhanced sms service, advertisement on mobile, traffic disturbance notification through mobile, etc.

3H Challenges in IT industry of Nepal

Presenter: Nisha Balami, D2Hawkeye

The last presenter in the second part of the presentation was of Nisha Balami from D2Hawkeye. She started her presentation with exciting environment.The overall of the presentation was about the following contents:

Contents:

• Sourcing
• PMS
• From technical experts -Managers –leaders
• Conclusion

After the briefly description of content she came to the Challenges and Opportunities in the various field of Human Resource Management. I have here noted her some points in the tabular form.

She also added in the topic of Performance management System (PMS). In the PMS she described on the following topics.

• Setting and communication Expectations=org and performance results
• Performance driving initiatives
• Monitoring and mentoring
• Evaluation appraisal
• Rewords and recognition

She also added based on her experience that,  management should review and Set up the communication between manager and employee. HRM should set the Grading Slab to ensure the good performance of employee. 360 degree feedback system will not work for all types of system. We may need to customize the 360 degree feedback system. Good incentives, bonus, good salary etc. will make employee ready to continue the job.

In the IT industry, it is somehow different than other Industry. IT professional and Developers may not have even basic knowledge about management because they are from the core technical background. So HR manager have to give some management knowledge to the programmer and technician.

At the last she concluded with reality

• HR is still looked as an “administrative” and support department.
• Biggest challenge is bringing the change in the mindset of the people.

The Neglected Issues

Theme: The Management of Management

-Neglected Issues

Presenter: Mr. Sohan B. Khatri

CEO Three H Management Moderator/Speaker

He brought along 10 years of experience in the education sector as a visiting faculty in leading b-schools in Nepal. Neglected issues in management sector were carried out from his definition of Market.

We regard market as Good. Market forces us for demand and supplies. Everything we assign to market can that be influenced?? Is the question we should consider? We tend to take everything for granted because it is the easiest way out. We need to acknowledge two ways in any of the management student’s life they are

Accept or to Know

Accept: is the easiest way in which we take everything in the market for granted

Know: Is the hardest part, to ponder on Whys and how of whatever is being followed is.

Life of Management is based on Assumptions

· Planning

· Organizing

· Directing/Controlling

· Leading

The Key point to be considered:

Ø need to explore the life of assumptions valid for management action

Ø Need to assume the life of exploration for management action.

If explorations were not implemented then we would have still been with walkmans in our hands. Therefore, we should challenge the assumptions to bring change.

Assumptions we normally hold are related with

1. People

2. Market

3. Industry

4. Cultures/ values

5. Offering

6. Emotions/sentiments

7. Aim/goal/objectives

8. Transactions/Trade/Interaction

By assuming- we tend to

Be at ease in relation with

>Management problem

>Personal problem

Satisfy our ego

>organization

>personal

Disassociate from Cognition

>Rational

>Irrational

We tend to have worst but the most common assumtions about ourself

>I am/aren’t so and so

>I can/can’t do so and so…

Things everyone should consider to manage management in our life. These are the 10 neglected issues of management:

1. Strategy formula

We need to understand “Strategy” make or limit or strategy and mostly everyone is bound to imitate strategy.

2. Managing People

Taking everything for granted is the easiest way to not manage people .Motivation factor is absolutely neglected in our society. We are falling to inspire people.

3. Failing to Innovate

Organizations fails to innovate they tend to imitate or have miss consumption of creating anything.

4. Research-No search

People lack in research and underestimate the necessity of research. Research is the result of interaction between the institution and the industries which are why they are important in western countries.

5. Knowledge management

You learn it yourself and are the most important topic for students to look after.

Managing oneself

6. Work life balance

7. Time management

8. Referencing

9. Priorities

10. Values and Morals

Mul Mantras for Management

Theme: Managing Career

Presenter: Krishna Raj Lamihanne , CEO Annapurna Finnance

“There will be vast changes in the field of management in the coming future. Our nation will be in the condition as in the eastern country now with in 20 year. So that, we have to be updated with technology to make your existence in this market.” Are the words that began Mr. Lamichhane’s presentation. He gave an example of the story about the Indian Railway which was miraculously saved by an Indian minister Mr.Lalu Prasad Yadav who is not educated in the Management field and yet manages to implement an idea which lead the uplift the downfall of Indian railway . We should have innovative ideas to be successful.

He complied 7 points ‘ mul mantras’ which might be helpful to manage our career:

1. Direction is more important than distance

2. Play to win but win the fairness

3. Enjoy whatever you do

4. There is no greater fun than hard work

5. No man is a failure who has friends

6. Hand to work, Head to work and Heart to work

7. Stop Ignoring and avoiding, Accept the challenge and be a True Leader

Summary: Getting alert of changes and make oneself ready for the future, focus on implementation ie the implementation of the concept. Importance of PPP Public Private Partnership. But unfortunately here in Nepal people follow three P’s ie Power Politics and Personality. Prepare yourself for various roles. Identify your passion which will be a great support in life. Hard work and perspiration are essentials of management and our life as well. Earning people is more important earning money.