Small Business Management in Bhutan- a lesson
“Entrepreneurship
is living a few years of our life like most people won’t, so that we can spend
the rest of our life like most people can’t”
-Anonymous
Acknowledgement
I would like to heartily Thank Mr.
Ugyen Lhendup module tutor of EDP:304 (Small Business Management) for
initiating this field visit to Paro, Thimphu, Punakha and Wangdue. Also, I
would like to thank the College Management for permitting us to make field
visit which is part of academic learning.
It was very fruitful for us by exploring the ground realities of real
entrepreneurs in the nation.
Gaeddu College of Business Studies
under the Royal University of Bhutan is the only government, business premier
learning institutes in the country. I would thank college management for
developing young minds as an human assets which will shape the economy and
sustainable development of the country. Entrepreneurs plays pivotal role in
imparting the nations development through promoting the local products and
diminishing the huge quantities of imports of products from other countries.
Local entrepreneurs will also help to ease the unemployed youths and provide
young professionals working platform. Now let me share you a
story............................
Field
Visit Experience
Small
Business Management Module offered us unforgettable field visiting experience.
This experience is completely a new knowledge for business management students.
It was not only an experience, but also a vital tool for all management
students. As an future entrepreneurs, this is going to guide us a lot. Our
first field visit was at Paro (Wangchuk Wood Tech Unit), giving a wide
opening to attract our target customers and being competent in our business
towards last visit at Lhawang Dedhen Incense based at below Wangdiphodrang
Dzong with much more experience on employe management skills.
On May 12, 2017 final year Major in EDP (4 Males and 3
Females) guided by our mentor Mr. Ugyen Lhendup and Mr. Tenzin Norbu (GCBS
Faculty), we have happily started our journey from Gaeddu College of Business
Studies to Paro.
The next day, it was on 13th May 2017 we were so
curious to meet with true and experienced entrepreneurs in our country.
Wangchuk Wood Tech Unit, Paro
Wangchuk Wood Tech Unit is based
at Paro just few kilometers away from Paro main town towards Paro regional
hospital. Mr. Wangchuk is the owner of this Wangchuk Wood Tech Unit. He belongs
to Nagor, Silambi Gewog under Mongar Dzongkhag. Opportunity of setting up his
business lets him to bring up at Paro. Wangchuk Wood Tech Unit was established
in the year of early 2000. He was a civil servant before he started his Wood
Craft unit at Paro. He shared his personal stories from challenges to
opportunities.
Green Road
Green Road is social venture
initiatives founded by Mr. Rikesh Gurung after completion of Bachelors in
Business Administration from Madras University, India. Green Road is
environmental friendly road construction through using plastic waste. Green
Road collects plastic trash and they use plastic for road construction which is
much more doable. Mr. Rikesh was struggling for
the last 4 years to convince Royal Government of Bhutan and now he
proudly said, “I own the Intellectual Property Rights for the next 18 years
without competitions in the markets.” Green Road is having more projects in the
pipeline.
Tshejores Azey
Ms. Tshewang Lhamo is founder of
Tshejores Azey productions. Tshejores Azey is based at Thimphu Motithang near
BCMD office. Tshejores Azey was established in the year of 2000 and she was
working in Tourism Council of Bhutan. She was managing her business and job
until 2013 before she officially resigned from Tourism Council of Bhutan. Currently
Tshejores Azey has 22 varieties of Bhutanese local Azey commonly consumed by
Bhutanese. She also shared her personal stories from Challenges to
opportunities.
After a successful visit at Paro
and Thimphu, we started our journey from Thimphu to Wangdue on same date.
It was on May 14, 2017 after
enjoying the sound hospitality at College of Natural Resources, under Royal
University of Bhutan, we headed towards Lhawang Dedhen Incense Factory below
Wangdiphodrang Dzong.
Lhawang Dedhen Incense
Mr. Sonam Tobdhen graduated from
Sherabtse College under Royal University of Bhutan with Geography Honors.
Lhawang Dedhen Incense factory was established in the year of 1998 by his
father. His father was Drungtsho by profession and he started this incense production
in small scale.
In 2010, father handed over this
enterprise to his son Mr. Sonam Tobdhen. Sonam expanded his business with 34
employees. Now Lhawang Dedhen Incense is also available in other Asian
countries. Incense is manufacturing based on their own set of formula which
adds fragrance to their products. Lhawang Dedhen Incense focuses on the quality
of products.
Skills Developed
1. Feasibility Study
As said above, the field trip was
a great pathway to experience new things and learning a lot out of
practicality. Before visiting different small enterprises, most of us thought
that a perfect plan will lead to the success, but after experiencing the
practical feasibility in creating a product and giving economic value to it, my
belief was slowing broadened. At present, I consider feasibility planning as
also a vital tool for success. The main reason behind this correction of belief
is by experiencing the various reactions of people in understanding our
product. At first, we consider that our plan as a great innovation and thought
that is going to work out really well in the market. That is the point were I
use to feel, planning is the only path to success. When transforming our
innovation into a product with a lot of hard work in manufacturing our product
and taking to people to see their reaction towards it. That is the moment we
were lacking with feasibility of our innovation.
2. Consolidation of idea
It is just a waste of time
thinking about an idea that doesn’t work. So we must encouraged our self and
start working on a new innovation, which had a considerably good response from
the people.
Now I came to know the ground
realities of an entrepreneur and got several motivations from different people
with different perspective. Geographical locations and nature of products plays
a pivotal role in establishing our own business.
3.
Safety and Security for employees
Another
important skill that I really feel will help in my future is the employee
management skill. It is very important for entrepreneurs to develop the
employee management skills. As Mr. Sonam Tobdhen said, “I pay Nu. 10,000/- per
month to our employees and also I have registered them in group accidental
insurance for their safety.” which in return low employee turnover. Employees
demands security beside their monthly payment. Nowadays employee must be
treated well because they will be first person to meet with our daily
customers.
4.
Time Management
There is
a major issue needs to be discussed at this moment, which is the Time
Management. I personally feel that we must make proper use of time in order to
succeed our business. Time is very important as suggested by entrepreneurs
during our field visit. I remember a famous Chinese proverb “No amount of money
or gold can buy our time back”. This proverb and my improper managing of time
taught me a great lesson and the method of deciding my future with proper time
management skills.
5.
Behavior and Smartness
Rikesh
Gurung said, “When we try to act smart, people don't listen”. This words really
alerts upcoming entrepreneur like me to think beyond and plan properly. So, it
was a very fruitful and productive field visit and we would like to thank our
module tutor again.
6.
Passion and Business
Mrs.
Tshewang Lhamo also encourages us to start our business from small scale and
than to expand our business. We must have passion to grow our business slowly
than towards large scale. “Never try to implement your idea over night” said
Aum Tshewang
7.
Quality and Its Importance
Mr.
Wangchuk the founder of Wangchuk Wood Tech Unit said, “I always focused on
quality of my products and there is no compromise in price.” Customers are now
really conscious about the qualities of the products and durability.
8.
Financial Management
As
suggested by Mr. Rikesh Gurung, we must make proper financial management in
order to sustain in the market. He also mentioned about the financial
challenges that he have faced during his initial startup stage. “I sold my bike
to make payment to my employees. It was very painful for me”. Said Rikesh
Gurung. This painful experience stitching my wounds today and I came to know
his depth commitment to his business (Green Road).
Future
Plan of Training and Development
Our
college must maintain good relationships with those enterprises for the
practical visiting opportunities for our upcoming entrepreneurs. Student will
be able to link our theoretical knowledge in practicality of new ventures. Once
they graduate from the college, students should be confident to start their own
venture. It will help them to explore further beyond their closed class room
learnings.
Beside the theoretical knowledge
in the class, students must take in different places where there are more
opportunities for them to grow and start their own business. Particularly to
listen some inspirational stories of experienced and real entrepreneurs really
motivates us to kick off of our ideas.
Bhutan is having weak student’s
entrepreneur culture. As Gaeddu College of Business Studies being only government
Business College under Royal University of Bhutan, we must develop this culture
and support our student’s entrepreneurs by providing incubation center within
the college campus. If college management could have mentoring systems, young
minds are ready to start their businesses during college days.
Students must also provide
platform to attend national events like Global Entrepreneurship Week (GEW),
Startup Weekend, QED and BICOB organized by Loden Foundation, MOLHR, Techpark
and etc for the intellectual development of young entrepreneurs and let them to
link with investors.
Thanking You
