Editioral Note

This journey would be the revival of the COVID shock; a step toward, as we called it, "normal." We would proudly like to present to you our first physical issue after COVID, BIZstyle vol. 4 issue I, with more insight about entrepreneurs' ventures where they not only survived but flourished in the COVID era and are adapting to new market scenarios. In this edition, we include savvy young entrepreneur stories that can really question your life choices, and it's jarring for young people to be more productive and full of mind. The issues feature assorted OGs from industries like hospitality, fashion, NGOs, banking, technology, photography, and luxury. You will find some bold statements that might be triggering.

CHEERS! to our BIZteam for completing this magazine that was born out of labor of love, to our readers, well-wishers, our contributors, and everyone who has been or has been associated with the magazines. Also, Merry Christmas and Happy New Year!

Managing Director OJASWI PUDASAINI

Chief Executive Officer AASHIKA SHRESTHA

Chief Financial and Technical Officer SMARIKA THAPA

Editor in Chief & Creative Director SAMIKSHYA SHRESTHA

Chief Operational Officer PRITHVIRAJ SINGH BOGATI

Chief Business Officer DIKSHYA KHADGI

Director of Photography LISHAN TAMRAKAR

Editor Team PRITHVIRAJ SINGH BOGATI, LUNA SHRESTHA, DIKSHYA KHADGI, SWECHHYA PRADHAN, ABHISHEK DHUNGANA

Event Managers SHRIJAN TAMRAKAR, SMARIKA THAPA

Event Team LUNA SHRESTHA, LISHAN TAMRAKAR, DIKSHYA KHADGI

Photographer SAMAN THAKURI

Guest Editors Academic, BIBHAV ADHIKARI (LACM Faculty), SHILPA DHAKAL, ISHAN DUTTA MISHRA (LACM Faculty)

COVER PAGE/ BIZshot

Entrepreneur RICHA GHIMIRE

Photographer VISION STUDIO

Makeup Artist ADORNBYNISTHA

Accessories by Orabelle Wardrobe Y.N.T.

SUPPORTING MEMBERS

Saurav Shrestha, Reason Mudvari, Diwas Chapagain, Abhishek Bhattrai, Biva Pyakurel Dibyashwori Karki, Kamal Raj Neupane, Ayush D. Singh

CONCEPT, DESIGN AND LAYOUT: RAKESH TWANABASU, Hyupa Studio Contact: 9851117969, E-mail: hyupastudio2018@gmail.com

All rights reserved in respect of all articles, illustration, photography etc. published in BIZstyle magazine. The content of this publication may not be reproduced in whole or in any form without the written consent of the publisher. The opinion expressed in contributor are not necessarily those of the publisher who can’t accept responsibility for any errors or omissions. All editorial inquiries and submission to BIZstyle Magazine must be added to biz.style@lacm.edu.np BIZstyle Magazine, Little Angels' College of Management (LACM), Hattiban, Lalitpur Volume 4| Issue 1| December 2022 01-5250123

Kiran Kumar Shrestha is a prominent name in the banking industry with a long history in the renowned banks like Nepal Bank Limited (NBL) and Rastriya Banijya Bank Ltd (RBBL). Starting as an assistant branch manager he worked his way up to the General Manager of NBL and currently the CEO of RBBL. He played a vital role in various departments and also along with coordination with international organizations like World Bank in the Financial Sector Reform Program. The banker also had a teaching career giving knowledge and inspiring young minds. His professional life has been quite a journey, giving him a chance to work and learn in various sectors which has helped to mold him into a skilled banker with a hands on knowledge on banking sector. We know more about this banker we asked him some questions

● In a corporate world, you have too many demands on your time, and they all seem important. So, how do you prioritize?

This is a problem faced by many management heads, in my starting so did I. Sometimes even a simple email/ message or just a phone call can suffice the urgency of the matter and save a lot of time. However, sometimes there are matters in hand you need to look at right away, for example if the pressing concern is from the Central Bank or the Ministry of Finance (MoF), and might have to reschedule lots of matters. But as you work on you start to know yourself which topics you should really look into, additionally you need to learn to schedule your time and my secretariat team has really helped me in this matter.

● Currently banks are facing a liquidity crunch & there is also a macroeconomic downturn which has hit the BFIs hard on a global scale. How do you cope with the situation ensuring not only the survival but also growth of your company?

Today the entire global banking and financial sectors have faced a punch in the stomach. High rise in inflation, economic recession and rise in liquidity crunch has even brought some finance companies to their knees. Growth in this environment under the watchful eyes of the central bank is not an easy task. And as a banking institution we have to look at the growth of the company as well as focus on the economy to thrive. We have a strong initiative to provide loans to the productive sectors which can bring good returns for us and the economy by generating tax revenues and employment opportunities in the market. To increase the loanable amount we are focusing on increasing deposits. We are focusing on increasing the remittance through our banking channel by giving better initiatives to the senders and as well as senders families on the remittance amount. We have firmly focused on maximum utilization of all of our technological, financial and human resources. But we have to be pragmatic as well. Under this present condition we can’t expect to see growth like in the past.

● Stagnancy in terms of company growth can sometimes be seen due to strategic myopia. How do you avoid this in the executive level of a corporation?

Strategic myopia usually occurs when the executive heads and Board of

Directors (BoD) fail to understand the opportunities for a long term return and benefits. To avoid this, the top level of the organization should not only be focused on short term growth but also look at the company goals and vision and incorporate tactical strategies for a better competitive advantage. They should be provided with proper forecasts of the strategic plans, and they should not focus only on cost incurred in the short term but what the strategies can bring in long terms along with intangible measures like creating brand image, referral customers, retention of big clients and employees etc.

● A CEO might be considered as a mediator between all of the stakeholders of the company, each of whom have different demands from the company. How do you satisfy all these and ensure harmony?

First of all you should be able to distinguish between the internal and the external stakeholders of the company as well as their influence, their engagement, and power they have on the company. Then we have to know whether the demand is a need or a want. And it is vital to understand if demand is based on their personal agendas, it should never be considered above the company’s agendas. The top management should be able to cooperate and coordinate with the stakeholders, listening to their needs and fulfilling them under limits. Negotiation also plays a crucial role where top management has to ensure that fulfilling one’s demands doesn’t affect the other. Last but not the least if the stakeholders have a large influence on the company, for example the government, we should follow them but also find a way to negotiate with them with cooperation with other companies in the sector, so that new policies and laws don't harm the company and the industry too much.

How important has technology become in the banking industry? And how successful has RBBL been to adapt to changing technology?

Technology has never been more crucial in the banking sector than today. We can see a recent rise in demand from the customers during and after the lockdown period for better technological services. Technology is playing its role to be a competitive advantage for various banks and a means to attract more deposits in the bank. Banks provide various technological options like mobile banking, online banking and registration, credit card and debit card facilities, ATMs with deposit options etc which can also facilitate e-Commerce in the market. Banks are incorporating CBS in their bank for their clients. In regards to adaptation of technology, RBBL is in competition with all other banks in the market. But the main concern isn’t about the availability of technology, you can get your hands on almost any technology if you have the money; but what RBBL is concerned about is the manpower with the skills to successfully and efficiently use this technology. We are lacking competent manpower due to brain drain in the foreign countries. Currently in RBBL we have employees of average age of 35, which are considered to be technological adept and we are going under process with coordination with the Public Service Commission to add more human resource to our company with better technical skills. We are also providing training and development programs to our teams so that we create better managers and employees who can work as better financial service providers.

● What lies in the future of RBB as per your strategic vision?

Currently, we are the top 1 bank in terms of return. But the ongoing merger and acquisition (M&A) process is gonna increase the capitalization for most of the banks creating larger single competitors in the market. This is surely gonna affect our performance in terms of the competition in the future. But we still plan to remain in the top 3 most profit making banks in the future. But as per my vision, I don’t want us just to be a profit making bank but to change the corporate image of RBBL in the eyes of the general public. Government banks are always seen as bureaucratic organizations filled with red-tapism, dull environment, and poor service quality. I want RBBL to be a bank which provides better quality service than current private banks by overhauling the poor service quality environment in my organization. And to do this we are trying to remove the cycle of mediocrity in our organizational culture, by focusing on better hiring and recruiting methods, training and development programs, budgeting with main themes on better service quality, and leading by example. And for this to succeed we also have to bring our attention to the human factor with warmer relationships with our customers, employees, and the general public.

● What do you think is a must quality for a good leader to have ?

It is a hard question to answer. But let us summarize it in a simple way. A good leader must be able to make the right decision for the company and keep his/her personal agendas away from the company. They should be transformational leaders for the company and also the decision should be analytical and based on experience.

Shrestha is a bonafide leader and as every leader he wants to leave a legacy of his leadership for upcoming managers and his successors to look up to. He has brought growth in the company and ensured effectiveness and efficiency by maximum utilization of resources. With main priority for integrity he has piloted the company towards its goals under the values the bank withholds. His professional journey from the ground below has provided him with the knowledge and hands on experience to be a corporate leader. And with his leadership we can surely see a drastic change inside RBBL and people's perceptions about the government banks for days to come. And coming days will surely show how this banker sails his ship in these financial turmoil.

- Prithviraj Singh Bogati Editorial Team

Barhasinghe is well-balanced premium dry-hopped lager brewed with pure spring water, imported German malted barley, and aromatic hops. It was founded by Nepali entrepreneurs without the involvement of any foreign capital, making it genuinely possible to be identified as a Nepali beer brand. Although certain multinationals have dominated the beer industry in Nepal, Barahsinghe has performed well after three years of operation. It offers a wide variety of beers, including pilsner beer, Dunkel Weizen, pale ale, and many more.

In this context, we interacted with Mr. Muskan Shrestha, the co-founder of Barahsighe. Following is the summary of our conversation with him:

What was the primary motivation behind entering the brewery industry, and how successfully has gained a strong foothold in the market?

We are already in the alcohol industry. We, therefore, had extensive knowledge of the alcohol industry and a solid distribution network, enabling us to reach dealers, distributors, and retailers easily. We also saw 15-20% growth in the beer industry. Similarly, the industry only had a small number of global companies, and the beer market lacked variety. We were thus inspired to enter the beer industry after identifying the market's missing segment.

1. There is much competition in the market, and many companies have already established themselves. What challenges has this created and how is Barahsinghe overcoming them?

There is intense competition in the market. Multinational corporations and other Nepalese businesses have dominated the need for more than 30 years. The market was monopolized mainly, and consumers readily accepted whatever the companies produced. This condition has presented problems, but we are working to transform how people think about beer by introducing a wide range of high-quality beer categories.

2. What distinguishes Barahsinghe apart from its competitors?

The distinct differentiation that we have from our competitors is that we have brought varieties of beers to our customers, including pilsner, which was not available in the market; similarly, we also got Dunkel Weizen, hazy IPA, etc. Another critical factor is that we emphasized the quality of the raw materials. Because, raw materials produced in low temperatures are pretty tasty, we import our raw materials from Europe and use the spring waters of Nepal to make the beer.

3. In your opinion, how important is branding, and what initiatives has Barahsinghe taken to build itself as a brand?

Branding is essential and it's a long-term investment. Since we are in our starting phase, we have yet to invest a considerable amount of money as other multinationals have. We have focused on mass as well as our targeted customers. We have prioritized branding media, Facebook, Instagram, restaurants, and event planning. We've analyzed different sorts of techniques, and we're being extremely tactful about it.

4. In what ways is Barahsinghe expanding, and does it intend to do so internationally?

We have focused on sales all over the nation. We've also started exporting to Australia and Japan. Moreover, we are also exploring other parts of the world. We are actively promoting the Nepali beer brand globally.

5. Beer tastes vary widely among consumers; people frequently stick to a limited selection of breweries. How has Barahsinghe segmented its market to attract consumers with a wide range of tastes?

Beer choice typically changes based on the consumer's income level and desire for the amount of alcohol in the beer. As a result, we have produced beers based on these diverse preferences, creating beers with different categories.

6. What are the significant challenges Barahsinghe has faced in the brewery industry?

We encounter difficulties everywhere. One of the main challenges in this industry is competing with the large multinational companies already present in the market. Secondly, our neighboring countries are also large manufacturers of beers with low prices. This situation squeezes our needs to some extent. Not to mention, the government raised taxes by Rs. 30 per liter. Additionally, despite the difficulties we experienced during COVID-19, there was no government support.

7. How have you managed everything together, considering that you are also involved in other successful brands like 8848 and old durbar?

We have a long history in the alcohol industry, as I just indicated. Consequently, we do have access to the distribution network. Since we can use the same distribution method, it has been an excellent supplement. We even have employees with similar experiences, making it more straightforward for us to work concurrently. However, we are overcoming our obstacles based on different circumstances.

8. In these years of experience, is there anything you would like to say to those youths who want to set their career as job creators and investors?

We need to look into the enormous possibility that Nepal offers. While working experience is beneficial, once we have some, it is always better to be an entrepreneur. These days, the majority of the youth are going aboard. This status isn't bad, but in the end, we should come back to our nation and contribute something to it. Nevertheless, this us to create a long-term legacy. Challenges are always there, but we should tackle them step by step, and one day, we will succeed.

- Swechhya Pradhan Editorail Team

1. Currently, all industrial sectors are facing a liquidity crisis and there is an economic slowdown too, which is hugely affecting industries world wide. How are you going to face the situation of ensuring not only the existence of your company but also its growth?

Yes, for some time we could see a liquidity crisis. But Nepal is such a country, despite the liquidity crisis and economic slowdown in different countries, Nepalese industrial businessmen with their high willpower are protecting their company and its history. This time too, with the desire to face fewer crises, the compulsion of industrialists to work accordingly has emerged. Despite many problematic situations, there is always an opportunity to walk towards growth of the company and build its existence in the market. We have planned to face challenges and lead our company towards growth by mobilizing those opportunities and our technical competencies. We do have a team with strong willpower, so with this trust we are planning to move forward.

2. In the context of company growth, sometimes stability can be seen because of lack of foreseeing of political aspects? How do you prevent such a situation from the level of industrial execution?

Before implementation of any policies, rules and planning, we thoroughly perform discussions about every aspect so that these decisions won’t be a disadvantage

Interview with Surendra Kumar Goel Chair Person of Shivam Cement

for the company. It is our tradition to implement rules, policies and planning only after proper discussions. Therefore, it is untrue that, by the estimation, the company will be affected by strategic aspects and will be unsuccessful.

3. How has your professional journey helped you to be the person you are today?

I am a person who always believes in hardship and faith, and works with honesty and positive thinking. There is no contribution of a single person only to the operation of the company. However, there are contributions from shareholders, high level authorities who are expertise on different subjects and areas as well as because of the contribution from the experienced person, this company has been able to be successfully established as a leading industry. I work as the Chairman of this company and under my leadership the company operates. My personal life is not that big a topic to discuss, but I have never thought of how my identity is appreciated because of my association with the company.

4. According to you, what are the important leadership qualities?

Every person of the company in a leadership position should always put forward collective and company’s benefits instead of their personal benefits. During planning, decision making or implementing, the person in a leadership position should discuss seriously as well as with the related person and be able to help to create an environment to bring appropriate conclusions. Similarly, while working or assigning work, the leader should always keep the company as a first priority and check whether the best option is chosen or not and, according to the need, make a quick decision in every area and create an environment for the better implementation. These qualities should be possessed by a leader in leadership. Late decisions lead to late outcomes. They should be aware of this aspect. I believe that quick decision making and its implementation is one of the core factors for the success of the company.

5. What is your strategic perspective for this company?

According to the nature and time context of business, the policies and rules of the company should be made. Most importantly, we have been working by giving first priority to the quality production of our product and customer satisfaction by providing quality product and services, and we are planning to adopt a neat and tidy management style for brand image, corporate image to protect our customers in this competitive environment while keeping our shares in the market and moving forward.

6. With the increase in competition in the market, how will you strategically face strategic planning?

There is always competition in the market. There are various brands and different features of the product on the market. The most important thing is to know which customer looks for which product and why. The topic of building a home is once in a lifetime or twice in a person's life. Shivam Cement is produced in Nepal and produced of high quality. Customers seek quality products. Thus, Shivam cement with distribution of knowledge of customer production and consumers have decided various products in the market.