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Nepal Implication On Business, Economy And Work Culture

Note on Implication on Business, Economy and Work Culture

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Implications on Business

Business can have the financial and operational difficulties in the business changing environment. All
businesses face different types of risk. Small businesses may have more and frequent business risk as
they have low capital or resource for the operation of business. The business may have various business
risks in the economic market. All risk includes different implications for the owner of the business and
they must overcome this risk. Business risk is the outcome of overall economic conditions. Inflexible
government monetary or fiscal policy often emphasizes the riskier situations for businesses operation.
Some business risks are as follows,
Strategic

The strategic business risk is the result of amount of competition in the economic market. Competition
increment can decrease the market share and lower profits for a business. Company owners give more
emphasize in time and money for educating consumers on telling them that their product is superior to
a competitor product. Larger company can be able to withstand higher amounts of competition in
comparison with the smaller company. The smaller company struggle for maintaining the sufficient
supply of economic resources. Economic resources include the raw materials, labor and other items that
business requires for producing the products.

Compliance

Small company follows different federal, state or local government regulations in the business
environment. Complex government regulation affects and can bring greater risk for small businesses.
The owners of the company have to review regulations and they are responsible for developing business
policies or procedures for ensuring that their company is in compliance. The small company must spend
more capital and resources on the routine dealing with other business for complying with new
regulations. The owner of the company expenses their capital for complying with regulations of the
government so they cannot have more money for increasing production output or expand business
operations.

Financial

In financial risk, the business or the company may lose their money from consumer sales or face strict
credit requirements. Business owners have to sell inventory or other items for consumers at low prices
in an attempt to make money for paying expenses involved in the company. Credit sales can make or
result from the business situation difficult. When the companies can find ways for collecting their money
at such time the company can lose money from consumers who are unable to pay future bills. Strict
credit need can create the boundary to the loan amounts, increase interest rates or create another
unfavorable financing element for businesses.

Operational
In operational business risk, the business can face deteriorating situations in the production process.
Incomplete facilities, unnecessary equipment or theft represent a few operational business risks. In
business when there are greater operational risks the company can face loss in production output,
consumer products with less quality and poor production efficiency. These situations can create a
competitor and they can have an impact on the company market share. Business may also face greater
financial risks if they must spend money for repairing or correcting operational issues.

Implication on economy

Nepal is considered as the agriculture-dominated economy but it lacks the entrepreneurial dynamism
which is required for complex growth. Government interference has greater effect on the regulatory
efficiency, and only the little effort is made to modernize the trade and investment regimes. Economic
Freedom Snapshot is; Recent Economic Freedom Score of Nepal is 50.9 (down 0.4 points). Economic
Freedom Status of Nepal is that it is not free. Global Ranking of Nepal is 151st. Regional Ranking of
Nepal is 34th in the AsiaPacific Region. There is no success in the economy of Nepal. Concerns: Rule of
Law, Open Markets, and Labor Freedom. The changes in economy in Nepal is +0.7. Unstable political
systems still have control or rule to the law. There is no right of properly and are protected very poorly
through the inefficient judicial system, which is subject to substantial political influence. Systemic
corruption and a transparent illegal framework continue to have an impact on the expansion of private
investment and production in the company.

Government Spending, This element describe the government level of expenditures as a GDP
percentage. Government expenditures such as have the consumption and transfers, score account.
Open market, the average tariff rate of Nepal includes 14.7 percent. The government is dependent on
tariffs for the revenue. The money is generated through the export taxes, and beef are not allowed for
importing. The new international investment is screened by the government of Nepal. Several state-
owned enterprises distort the economy. The financial sectors are fragmented, and government impact
in the allocation of credit remains substantial.

Implication on work culture

Work culture is a key to extract the best out of employees and making them work in the company for
long term time horizon. The company should provide a positive ambiance for the workers to
concentrate on their task rather than conflicting in each others work. Work culture refers to the study
of beliefs, thought processes, workers attitudes, ideologies and principles of the company. The work
culture decides the worker's interaction with each other and operation and function of the company.
Work culture is known as the mentality of the workers that further decides the ambiance of the
company. The company must have a strong work culture when the workers follow the rules and
regulation of the company and have to follow the existing guidelines. However, there are certain
businesses where workers are hesitant for following the instructions and they work only by strict
procedures and complex discipline. Such company may have a culture that tends to be weak. Rules for
creating passionate work culture are

Hire the right people

The passion and commitment must be first to hire and the second is an experience. The company can
find different impressive CVs out there, but you must be able to find people who have an interest in the
same things in which you are. You dont want to step on sand on the journey of workers toward people
very different passion. Asking the right questions is important such as; what career do you choose and
benefit of such career? What is the thing that inspires you? You want to understand what the potential
worker believes.

Communicate

After you find the potential people, you need view their routine work with them and discuss the things
that is going well and that isnt. It is important to take note of your victories, but it is not necessary for
analyzing the losses. The fertile culture recognizes the things at the time when they dont work and
adjusts to rectify the problem. Today people must feel safe and trusted and they must believe
themselves that they can speak freely without fear of repercussion. The art of communication helps to
drive the stress on talking, but listening is equally necessary. Great culture is established around people
when they listen not only to each other or to their clients and stakeholders. Its also important for
listening situation outside the wall such as, the marketing role, the meaning of zeitgeist, the
developments, trends, and calamities that are increasing.

Tend to the weeds

A culture of passion capital can be compromised by the wrong people. One of the most destructive
corporate weeds is the whiner. Whiners arent necessarily public with their complaints. They dont stand
up in meetings and articulate everything they think is wrong with the company. Instead, they move
through the organization, speaking privately, sowing doubt, strangling passion. Sometimes this is simply
the nature of the beast: they whined at their last job and will whine at the next. Sometimes these
people simply arent a good fit. Your passion isnt theirs. Constructive criticism is healthy, but relentless
complaining is toxic. Identify these people and replace them.

Work hard, play hard

For obtaining the passion capital needed an ethic for work. It is not hard for doing what you love. In the
global economy, we can calculate which company has a superior work ethic and the company that is
leading in productivity. Industries this day does not thrive on a forty-hour of the work week. A culture
where everyone is capable of knowing that long hours are sometimes necessary will work if their work is
recognized and rewarded.

References

Flippo, Edwin B. Personnel Management. London: Oxford Press, 1980.

Gynwal, Ram Prasad. Know Nepal. Kathmandu: Bhundipuran Prakashan, 2012.

Hamilton, Francis B. An Account of the Kingdom of Nepal. New Delhi: Manjushri Publishing House, 1971.

Heywood, Andrew. Politics. New York: Palgrave Macmillan, 2002.

http://www.managementstudyguide.com/work-culture.htm

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IMPORTANT NOTES

Demography-Demographic Composition of People

Bachelor of Business Administration Nepalese Society And Politics People, Society and Culture in
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Religion- Hinduism, Buddhism, Islam, Kirat and Christianity and Religious harmony

Bachelor of Business Administration Nepalese Society And Politics People, Society and Culture in
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Festivals of Nepal

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