Diversity & Management
Highlighting the issue of diversity from purely corporate management perspective (Is Diversity Outdated? Nubiz August 2008) Sujit Mundul has drawn attention to the fact that this issue is not only political as is being debated in present day Nepal.
However, he has missed to mention that diversity is not only a strategy to project an inclusive image of the company. The corporate should have its human resource coming from as diverse ethnic-cultural-national backgrounds as possible so as to pool the diverse ethnic-cultural-national knowledge base. Such pool will help the company to understand the diverse customers and other stakeholders that have detrimental effect in the business volume as well as the bottom line.
This strategy is more important for those companies that aspire to expand into multinationals.
Saroj Yadav
Janakpur
Insurance Regulation
I n continuation of your increased focus on insurance sector, you presented an interview with the Chairman of the insurance sector’s regulatory body Insurance Board in you August 2008 issue.
The activism that Chairman Shah has indicated as coming from the Board in the ensuing months is welcome as everybody feels that this sector is too important to let it remain as it is – unregulated. The dangers of such lax level of regulation should be evident to all from the experience of near bankruptcy of international insurance giants like AIG. If that can happen in a mature market like USA, where the level of regulation is considered very strong, one can only hope that the regulators in countries like Nepal become extra careful.
Pradeep Banstola
Biratnagar
Chaudhary’s foreign biz
Chaudhary Group’s businesses outside Nepal (Corporate Nubiz August 2008) should spur the Nepali policymakers to speed up the process to bring out a legal framework to regulate Nepali investments abroad.
The Group’s success in the international field also indicates that if the investment opportunities are more relaxed in Nepal, business houses like Chaudhary’s will increase investment in the country as well.
This account you have presented convincingly proves that lack of capital is not a problem at all for Nepal. The business houses have enough contacts in the world to arrange the capital as needed. What is lacking is only an environment of freedom to invest and security of investment.
Purushottam Pyakuyal
Gatthaghar, Bhaktapur
Inflation Threat
Your cover story in August 2008 issue has given a message that efforts to control inflation directly by monetary measures are not going to be effective in Nepal. In that case, Nabil Bank's CEO Anil Shah's advise to forget about inflation and focus on what can be in our control seems plausible.
Agreeing with Shah, I suggest that our authorities focus more on reforming the economy so that it has enough resilience to adjust to the exogenous shocks like energy and food prices.
Prabin Chand
Bhatbhateni , Kathamandu
Brain Drain Will Reverse
Many thanks to Manohar Man Shrestha for yet another wonderful article in New Business Age’s August 2008 issue. I appreciate his articles that appear in Arthik Abhiyan and New Business Age.
I am not against brain drain as I know these people will come back as soon as the pasture at this end becomes greener and when they do come back they will for sure come with more skill and education. I have the feelings that the things are turning brighter in Nepal.
Prakash Sharma
P.O. Box: 3091
