Vol. 1; No. 1
10/-
eDItOrAL
“ To accomplish great things,
we must dream as well as act”
Today’s Nepal has somehow lost her way and is being
misled by the unseen hand of unstable politics. Blaming
politics would not be appropriate at all as the creative
thoughts and praise worthy efforts of the youth like us
also matters to some extent for contributing something
to our country. ‘The Pathfinder’ is the result of similar
thought which hearten us to initiate this management and
business journal as something is far better than nothing.
It gives us immense pleasure to publish the first issue of
our magazine which will help developing new ideas and
techniques among all our readers. Here we aim to include
the contemporary news and information of economics and
management which will foster the knowledge grasping
capacities of the students and teachers providing the rel-
evant information related to management and economics
at the mean time. The self created articles of teachers and
students relating to the theme of our journal, received from
the postal services, e-mail and other means, are highly
appreciated and published in this journal. Our major focus
will always be on giving priorities to the articles related to
our theme. ‘The Pathfinder’ will leave no stone unturned to
satisfy our dear readers, well wishers and everyone who
keeps keen interest in management and economy of our
nation. We hope you all would point out our shortcomings
then only we would know how much our reader care for us.
March - April 2015 Rs.
Workplace Spirituality
Workplace spirituality has continued to gain acceptance
as a topic of study, presumably with application to practice
within organizations. It refers to the environment in which
people have inner life that nourishes and is nourished
by meaningful workplace that takes place in the context
of community.1 Spiritual organizations builds their culture
for meaningful purpose. Spirituality is more about process? Mr. Binod Ghimire
–the way things are done – than it is about achievingPh.D. Scholar (Management)
goals. The development of an individual and building on
creativity will naturally require spiritual practices in the process of achieving
an organizational goal.
Organization that promotes spiritual culture recognizes the people with
the purpose in their work and kind of desire to connect with other human
being. In this organization, people have spirit to find the meaning of work
and working with people being part of the community. There are five cultural
characteristics in spiritual organization.
a. There is strong sense of purpose. Profit is important but it is not the
ultimate goal of organization.
b. Spiritual organizations recognize the worth and value of individuals.
c. Spiritual organizations are characterized by mutual trust, honesty and openness.
d. There is high trust, climate in spiritual organization. Employee empowerment is visible.
e. Spiritual organizations don’t stifle employee’s emotion. They allow
people to express their feeling without guilt.
Need of workplace spirituality
Work life has become so demanding, fast paced, stressful, ambiguous,
and chaotic that we are forced to seek values-based answers and ways of
achieving personal stability from within. In such situation, the reasons to
promote workplace spirituality are explained as below:
a. Employees are looking for ways to counterbalance stress and pressure
in work situation.
b. Temporary nature of job, new technologies, changing life style have
created distance between people resulting poor adjustment in community.
c. Spiritual culture is the requirement to make people involve in the work
connecting with each other.
d. Employees are looking for something meaningful in their lives,
something beyond the job.
e. Employees are less interested in the job and lack of interest in formalized
religion. Workplace spirituality is required to fill such emptiness.
Means to promote workplace spirituality
Workplace activities that are spiritually sourced include some of the
program and practices that promotes spiritual work environment.
a. Bereavement programs.
b. Wellness information displayed and distributed.
c. Employee Assistance Programs.
d. Programs that integrate work/family.
e. Management systems that encourage personal and spiritual transformation.
f. Servant leadership–the desire to serve others first in preference to self.
g. Stewardship–leadership practices that support the growth and well-being of others.
h. Diversity programs that create inclusive cultures.
i. Integration of core values and core business decisions and practices.
j. Leadership practices that support the growth and development of all employees.
In conclusion, Spirituality is not bringing religion and God into the
workplace. The main goal of spiritual organization is helping employee
find meaning in their work. Study reports that spirituality in organizations is
positively related to creativity, employee satisfaction, team performance and
organizational commitment.2Today’s productive and profitable workplaces
require organizational cultures that integrate humanistic core values with
core business policies, decisions, functions, and behaviors; cultures that
support the physical, mental, and spiritual well-being of its employees.
References:
D.P Ashmos and D. Duchon, “Spirituality at work: A conceptualization and
measure,” Journal of Management Inquiry, June 2000,pp 132-144
D.W. McCormick, “Spirituality and Management,” Journal of Managerial
Psychology, Vol.9 no. 6 (1994).

Interview
Be a Harbinger of Positive Changes
[The following conversation is based on the interview with Prof. Dhurba Raj Pokhrel who is currently contributing his services as the
Assistant Dean of TU. Our editorial team took the interview on 15th Magh,2071 B.S. to explore Management studies and its importance]
Q. Can you Share us few ideas about T.U education regarding Management
Studies from T.U?
F Thank you for providing me this chance to share my feelings and opinions
regarding my experiences and the TU education system of Management
studies. There are three types of programs under studies of management
provided by TU. The first one is complete educational program like BBS and
MBS. The next one is vocational type of management program like BHM,
BTTM and Bachelors in Health Care Management. We are also thinking
to start the Bachelors in School Management as education occupies huge
share in today’s business. The third one is Professional Program like BBA
and MBA. We intend to make you the socially responsible change activist/
agent as the student of professional education provided by TU. I completely
believe that the change in the society can be brought by the economic
activities and led by the entrepreneurs. We want to see you as the blended
manpower with skill, knowledge and positive attitudes.
Q. What are the challenges and problems that we, the BBA students,
are likely to face due to the mass production of BBA graduates?
Can you please suggest some solutions?
F After the MBBS products, the BBA students are greatly honored by the
general people. Talking about the problems, there are generally two
types of problems. First one is the problem of the BBA degree provided
by the foreign universities in Nepal, which can also be said the external
problem. There isn’t any mechanism of TU to supervise these degrees
provided by them. Another problem is the internal one. Our syllabus and
course contents are very good but there is a great confusion that if the
knowledge imparted to the students is at the aimed pedagogy or not.
Most of the students are not initiative as they grew being familiar with
the spoon-feeding system. This traditional concept has paralyzed the
mind of students which is the serious problem of today’s students. The
industries are not accepting the graduates due to this reason. Let me
give you an example which is my own experience. In 2002 B.S., when
I was the teacher of Sankher Dev Campus, I gave the assignment to
the very first batch of BBA to study about the Cosmic Air and Buddha
Air. The students were given necessary data and information and all the
required materials. They drew the conclusion that the Cosmic Air was
ruling over the sky of Nepal while the Buddha Air will possibly close door
by six months and it actually happened. This proves that if the students
are provided with the sufficient information and necessary data and if
they are encouraged to use their knowledge in creative and practical
way, then the BBA students can bring out the realistic results regarding
the practical matters also.
So, keep in your mind that nothing has its own scope. The scope should
be created by you, using your knowledge and creativity. There are
challenges of the mass production of the BBA graduates but it is you
who should try to be your best to value yourself in the market. Make
yourself the unique one and be absolute as in today’s world knowledge
with skill and positive attitude is only accepted. The only solution is use
your creativity and be unique and make your own path, success will be
your destiny.
“Success is a lousy teacher. It seduces smart people into thinking they can’t lose. ” ? Bill Gates
Page 2
Q. Being the BBA students what unique features do we
possess in comparison to other new courses introduced
recently like BPA in your view?
F BBA course is designed by considering the need of
the private sectors and the new course Bachelors in
Public Administration (BPA) is designed by considering
the needs of the government sectors. The uniqueness
is practical implementation of the gained classroom
knowledge in reality. We aim to make the students more
interactive. The course is designed in such a way that
the student’s involvement in teaching-learning process is
obligatory which helps the students to be more confident
about themselves. Medical science or Homeopathy
can’t change the attitude of the people but the BBA
students can. You can learn about the attitudes of the
people and change it through leadership, motivation and
communication. You are being prepared to learn about
the human and use them for the productive purposes to
make the society economically strong through various
management practices. This is the great uniqueness
possessed by you in my view.
Q. Does the FOM, TU provide any facility of the credit
transfer for the students intending to study abroad
after the completion of some semester here in Nepal?
Will you please briefly tell us about this?
F Yes, there is the provision of transferring 30 credits
of the students who intend to study abroad after
completion of some credits in Nepal. Our course is
not below the international standard instead I consider
it as one of the best courses in the world. If there is
total practical implementation of the learned knowledge
then even the foreign students will get attracted by our
course. Yes, there is some kind of non compatibility with
the Indian Course as it offers the 3 year BBA Program
but almost with all the international courses our course
is compatible. There is no any subject bound, each of
the subjects can be transferred. The FOM,TU provides
these provisions for the credit transfer.
Q. We, the BBA students are initiating this journal of
business issues. As an Assistant Dean of FOM, TU
do you have any supporting mechanisms for the
students like us?
F Let me first tell you that I am very happy to hear the
question. What I would like to suggest you is, initiate
with small criteria. Go to the market and try to find out
the mechanisms used by the entrepreneurs from the
owner of a small tea shop to the owner of a company.
The market is the open book for you to study and learn
the practical things. Learn about the Economic Order
Quantity (EOQ) used in your canteen. First learn
about the practical implementation of the management
philosophy. My blessings and well wishes are always
with you. You should use your utmost good knowledge.
I wish all the best for your magazine. I am happy that
you have shown the initiation for this creative work and
hope that you will continue it. All the Best !

Rapidly Rising Inflationary Trend in Nepal
Inflation is an unalienable feature of an economy. The
concept of inflation is prevalent since the commencement
of business activities. Myriad economists have defined
Inflation, and have made extensive exploration to extract
out empirical evidences about the inflation, its causes,
and its impact on the economy of a nation. The classical
economist, Neo-classical economist, and modern economist Mr. Rohan Byanjankar
have made in-depth study to get hold of information BBA 3rd Semester
regarding inflation. The concept of inflation has sturdy as-
sociation with economics, and is an indispensable part of macro-economics.
The economic cycle or trade cycle is the consequence of change in level of
investment, and price level. Inflation and deflation are the rudimentary forces
that ensue the phases of business cycle. Inflation is a sustained, rapid increase
in  prices over months  or years, and mirrored in the correspondingly decreas-
ing purchasing power of the currency.
Nepal is a country with fragile economy. Nepal acts as a buffer between
two economically giant nations, China and India. Nepal’s fragile economy,
and dearth of large industries have compelled Nepal to count on imports. The
paucity of manufacturing industries, and lukewarm response of government
agencies backed by political instability have caused Nepalese economy to
plunge. The export of Nepalese economy encompasses a short ranges of
products, which does not generate adequate revenue to surpass the ex-
penses incurred in import of goods and services. The top five export of Nepal
consists of Woolen Carpets (Rs. 2.97 billion), Zinc Sheet (Rs. 2.74 billion),
Textiles (Rs. 2.25 billion), Poyester Yarn (Rs. 2.05 billion), and Readymade
garment (Rs. 1.77 billion). Thus, total export of Nepalese economy extends
to Rs. 36.19 billion, nevertheless, imports are the integral part of Nepalese
economy. Pretroleum products (Rs. 49.84 billion), Vehicle and spare parts
(Rs. 21.14 billion), MS billet (Rs. 13.61 billion), Silver (Rs. 11.05 billion), and
Medicine (Rs. 8.95 billion) are the major imports of Nepal. The total import
of Nepalese economy is about nine times of total export i.e. Rs. 318.52 bil-
lion. The rapid inflation in Nepal is the consequence of heavily relying on
import especially non-biodegradable source of energy, which constitutes half
of Nepal’s total import, so Nepal’s import cost is predominated by non-bio-
degradable source of energy. The inflation in Nepal is astoundingly increas-
ing, and currently Nepalese economy holds an inflation rate of 11.2%. More
specifically, inflation has made an impetuous strike on consumables, which
has urged the price of consumables to touch sky-limit, compelling most of the
general people to pour lion’s share of their income on mere consumables.
Nepalese people are getting on with piteous situation as being disable to
abdicate consumption of consumable.
The rapidly rising inflationary trend in Nepal has caused Nepalese economy
to tumble. Nepalese economy has been shrouded of environment unfavorable
to investment, which has dwindled investment, and has caused demobilization
of funds. The spirit of innumerous business people have lessened because
of lack of business confidence, ensuing the deficiency of multitudinous indus-
tries, and industrial estate. The uncontrollable rise in price since last decade has
entrapped Nepalese economy in the whirlpool of towering prices. The deft analysis
of past trend provides a certain clue to the series of income streams, and price
level; the income level of people rises in arithmetic progression, whereas price
level rises in geometric progression, which is the cause of shortfall of income
over expenses. Mild inflation is considered to be desirable for economic growth.
However, Excess inflation detracts sustainable economic growth and develop-
ment ensuing economic paralysis. The detrimental effect of high inflation comes
largely through the channel of increased uncertainty, unemployment, and pov-
erty. high and variable inflation, in general, leads to uncertainties in income and
expenditure decisions of the different groups of the society; distorts economic
growth; lowers savings and investments; and makes cost of capital more
expensive. More specifically, it hurts the poorest of the poor having fixed level of
income, ensuing moral depravity, as inflation erodes their real wealth.
High inflation is virulent to an economy. Rapidly rising inflationary trend
in Nepal has formidable impact on frail economy of Nepal. The economy of
a nation feels a swift impact with a weeny change in the economic factors,
especially price of products. So, hiking inflation in Nepalese economy calls
for strict vigilance. The meagre investment is the ramification of crumbling
faith of business people towards Nepalese economy. Nepal should take
appropriate measures to get through the precarious situation caused by
high inflation and to avoid annihilation of entire economy. The Nepalese
economy further deteriorates if Nepal makes a strenuous decision to put up
with prevailing inflation. Thus, Government of Nepal, Nepal Rastra Bank,
and other financial organization should take efficacious measures to curb
further inflation, which might assist in swift recovery of the economy.
Source: www.nrb.org.np/inflation-in-nepal
www.himalayantimes.com/epaper
“Education is what remains after one has forgotten what one has learned in school.” ? Albert Einstein
Page 3
Understanding Hydropower Potential of Nepal
Since many decades ago, we are
taught that our country has largest poten-
tiality to produce hydro-electricity after
Brazil. But the fact that Nepal as ‘second
richest country’ after Brazil in hydro-power
potential has never been proved.
Half-century ago, the research car-
ried out by Dr. Hari Man Shrestha showed
that theoretically Nepal could generate Miss. Jyoti Khadka
83,000 megawatts hydro-power, of which BBA 1st Semester
42000 megawatts are economically and
technically feasible. This estimation was made by considering
the water resource discharge data generated by very few mea-
suring stations only. For this research, average run off discharge
was used which included flood water also.
A recent study was conducted by Prof. Dr. Narendra Man
Shakya with his team of Institute of Engineering, TU,based on
the latest water discharge data available with the Department of
Hydrology and Metrology using Geographic Information System
(GIS). It estimated the hydro-power potential of 53,000 megawatts
which excluded the flood water from the discharge data.
The World Atlas 2009 ‘Hydro-power and Dams’ states
that Nepal’s economically exploitable hydro-power potential is
14,772 Gwh annually, which puts Nepal on the 50th position
in global ranking.
Another misunderstanding regarding the alternatives to
meet present power deficit is the assumption that only big
projects can do so. But the fact is, to rescue our country from
the current poor energy supply situation, small and medium
sized projects should be implemented in the fast track basis.
Once these projects meet the national power demand, large
export oriented projects can be developed which practically
will take next 20-30 years at today’s rate of development.
Hence, dreaming about the big projects and fulfilling them on
paper only won’t reduce this problem. Short and medium termed
projects should be launched for the domestic consumption and
then only the big projects will find their own path for export which
will sound more practical and realistic at all.
References:
K. C., Arjun Bahadur, Nepalnews.com, Understanding
Hydropower in Nepal.
Leadership in Multi-cultual Terms
Global organizations face the two challenges
of creating synergy among their culturally diverse
and geographically dispersed subsidiaries and
coordinating their activities to maximize efficiency
in their missions. One key for global success is
the ability of global organizations to select, develop
and place effective global leaders’ at all organi-
zational levels. These global leaders are ‘‘influ- Miss. Prasansa Pokharel
encing the thinking, attitudes, and behaviors of a BBA 1st Semester
global community to work together synergistically
toward a common vision and common goals’’ and accordingly, they
contribute significantly to the success of global units in accomplishing
their organizational goals.
Multi-cultural teams are defined as teams consisting of ‘‘individuals
from different cultures working together on activities that span na-
tional borders”. Two important aspects of global multicultural teams
are that they are culturally diverse and geographically dispersed,
and their members typically communicate virtually with each other.
Therefore, the global multicultural team environment differs in many
aspects from that of co-located culturally homogeneous teams and
thus represents a complex and dynamic environment.
Leaders must simultaneously manage a culturally diverse work
force. Global leadership research in general and multicultural team
leadership in particular should attempt to identify the personal char-
acteristics and behaviors of leaders that enable them to effectively
lead followers who are culturally diverse and often located in different
geographical zones. The three global characteristics that focuses on
multicultural teams are: cultural intelligence (an individual’s capability
to deal effectively in culturally diverse settings) , Global Identity (which
conveys a sense of belongingness to the global work context) , and
openness to cultural diversity (which is ‘‘the degree of receptivity to
perceived dissimilarity’’).

Foreign Employment, Remittances and
Poverty Reduction in Nepal
The history of migration dates back to the
beginning of human civilization. People migrated
internally and externally for various reasons like
better grazing grounds for cattle, better environment,
better employment opportunities, etc. Today most
of the people migrate in search of better employment
opportunity. Especially in the developing countries
like Nepal, most people migrate to foreign lands in
search of employment so that they can well feed
and support their families. Mr. Khubi Ram Acharya
In Nepal, the formal and temporary migration for foreign employment
started before early 19th century when Nepalese travelled Lahore to join
the army of Sikh Ruler Ranjit Singh. Nevertheless, labour migration in
true sense started after Anglo- Nepal Treaty of Peace and Friendship of
1816 that recruited 3000 Nepalese soldiers in British Gurkha Regiment.
The treaty between India and Nepal in July 1950 was the turning point in
the movement of Nepalese migrants for employment in India. The treaty
granted movement of workers on reciprocal basis and Nepalese labour
needed no work permit. After the enactment of foreign employment Act,
1985 Nepalese labour started to migrate beyond India for employment.
The political conflict that lasted for ten years i.e., 1996-2006, had dis-
placed a huge number of Nepalese from their birthplace leaving them home-
less and unemployed. Even the post conflict situation has not witnessed
economic growth. The problem of unemployment and underemployment,
lower agriculture productivity, lower wages and salaries, and poverty still
exist. The political instability has decelerated the pace of industrial expansion
and halted plenty of small and medium enterprises. The majority of youth
are pessimistic regarding the future of the country. All these reasons have
enlarged the number of migrant workers. With increase in the number of
migrant workers, the remittance inflow is rapidly increasing in Nepal. This
has become backbone for fulfilling increasing trade deficit and reducing
poverty of Nepal. Despite increasing remittances from foreign employment,
there is debate regarding economic advantages of foreign employment and
remittance inflow in Nepal.
Despite annual entries of about 4,50,000 youths in the Nepalese
labor market, employment opportunities could not be created to absorb
those new entrants. Nepalese economy cannot provide employment even
for a number of 100,000. Therefore, there is rapid increase in number
of Nepalese citizens going for foreign employment. The rapid increase
in foreign employment began from 2002/03. According to the Foreign
Patrons : Shamim A. Shamim | Lt. Col. Jeevan Thapa
Advisors : Ram Singh Budal | Hom Pd. Bhattarai
Dinesh Gajmer | Rebat Kr. Dhakal | Pushpa Raj Poudel
Editors : Narayan Basnet | Hari Khadka | Nirvik Naresh Website : pathfindersamb.blog.com
Neupane | Bhuwan Pd. Wagle | Prasansa Pokharel Marketing : Anish Prasai (9808131674) | Laxmi Karki
Ashma Adhikari | Jyoti Khadka
Designed by : Manoj Kumar Sah (Asst. Librarian)
Page 4
Employment Department, Government of Nepal, the total number of
migrants until 1012/13 has reached to 2713895. This is the number of
only legally migrated workers. Other thousands of workers are going
abroad through India illegally. However, there is no any reliable data
on it. The major five destinations of Nepalese for foreign employment
are Malaysia, Qatar, Saudi Arabia, UAE and Kuwait. There are more
than one million Nepali workers in India but there is no any reliable
data on it.
With increase in number of Nepalese workers abroad, remittance
sent by is also rapidly increasing. In the fiscal year 2001/02, it was Rs.
47.5 billion. After eleven years (in the fiscal year 2012/13) this amount
has increased by more than nine times i.e., Rs 434.6 billion, which is
25.5 percent of the gross domestic product. The poverty reducing and
income distribution effect of remittances is significant. In 1995/96,
absolute poverty in Nepal was around 42 percent. It decreased to 25
percent in 2010/11. This is because recipients of remittance are often
low-income families. From the macroeconomic point of view, the
remittance is the major source of income for the 56% households of
Nepal. But, a large portion of remittances is being used in consumption.
Only a small percentage of the remittances (2 percent) is used for capi-
tal formation. Therefore, it is necessary to make such policies, which
will help to divert remittances in capital formation and create employment
opportunities within the country.
References
Central Bureau of Statistics (2011). “National Living standard Survey
2010/11, Volume 2”. Kathmandu: Central Bureau of Statistics, National
Planning Commission, Government of Nepal
Cooray, A. V. (2012).” The Impact of Migrant Remittances on Economic
growth: Evidence from South Asia.” Review of International Economics.
Vol. 20, No. 5. Australia: University of Wollongong.
Kayastha, N.L.(2002). “Nepalese Migrants Workers and Remittance
Economy of Nepal”. A Paper submitted to Faculty of Humanities and
Social Science, T.U., Kirtipur, Kathmandu.
Ministry of Finance (2014). Economic Survey, 2013/14. Kathmandu:
Ministry of Finance, Government of Nepal.
Pant, Bhubanesh (2006). “Remittance Inflows to Nepal: Economic
Impact and Policy Options”. Economic Review, No. 18. Kathmandu:
Nepal Rastra Bank
Shrestha (Malla), Puspa(2009). “ Foreign Employment and Remittances
in Nepal.” Economic Journal of Nepal. Vol. 32. No. 1. Kirtipur: Central
Department of Economics, TU.
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