Ever since the underpinning of monarchy has been rooted deeply within the land of thunder dragon; there stands so firm the great successive Dharma Kings who embrace and binds together the diverse innocent citizens through a motherly love and care who nourishes the developmental activities like a blossoming flowers, that bears the fruit of ripened happiness. Under the glorious reign, there exists a small sandwiched nation between giant China and India that requires zoom out to view its details on the map sheet but copiously blessed with natural resources and soars prominence ever higher for its balanced and sustainable development Paradigm.
The country like an iota of dust potentially impacts the global community like a roaring dragon in an open sky mainly because of its unique planning scheme but however, the world around us has come long way of advancement through the series of industrialization followed by technological revolution and information age till date. As economics modernism skyrockets globally we are left behind in the race of development. Being enticed by their development our country is hit hard by strong tides of change amid strong current flow of constrains that caught up in the wave of inefficient resource utilization due to poor technologies and low skilled laborer.
In this global community we are dashed aside and withheld by many challenges. Currently our country is riding the sinking-boat debt policy to fish in a water troubled by donor countries. The current hydro projects to whom people awaits with rising flames of hope to earn huge amounts of foreign currency is slowly fading its warmth and heading towards depression tomb.
With the lack of proper research, planning and absence of checks and balances in the country has led to the poor execution that in turn laid the platform for failure to stage a show. Today the world is run by the giant private organizations. They are catalyst in the major decision making and worldwide trend setter. Profit maximization is the life force, creativity the brain and their soul the customer to each and entire organization. Envisioned to be the best in all they mission to shed the blood in providing best services they can to their customers. That’s how efficient organization aspires to excel in their journey of success and pawn the world in their hand.
In Bhutan the chronic orthodoxy whims has channeled private organization on the suicide mission. Since for so long every developmental activities in our country are being carried out by government under the visionary leaders since the inception of 1st five year plan in 1960s. Reason being so as a general, Bhutanese people has a mindset that government will do everything for them. Rather they must be proactive than being reactive to view through the lens to develop the strength to ask what can they do for government than to wait for government to get things done for them.
The other dark side of our society is that we totally lack the sense of dignity of labor. We generally assume that government work is superior to private job. Social influence is so strong that effect is felt in the job market where all the graduates fight for the limited government slots. Parents are never happy if their children land up working in private organization and although those few joining private firms take it as last option. They are never satisfied unless they get hold of government seat and its right to some extend as it has secure future prospects and free working environment from oppression.
However in advanced nations private firms are the main nation developers. Thus their organization exceeds governments one. This makes people to aim for best private company to work based on numerous parameters like working environment, ease of doing business etc. obviously higher payment in private firms as it is income oriented and this very factor facilitates to get skilled labors and this garners the attention of customers too. But unlike other country, in Bhutan private firms are still at infancy who requires consistent nourishment from government to led him unsheathe his cocoon of dependence to beam strong radiant of independence sooner or later through the provision of funds at lower interests’ rate. Government rather than lending helping hand always they must teach them how to fish for their sustained living. They must require only a nudge from government and tackle challenges on the way of success.
For the plant to grow healthy it requires constant care with adequate water, fertile soil, abundant sunlight and clean air. Similarly in Bhutan if private sector to soar high governments must give wings to them. Rules and regulation assorted for private firm must be ideal in a way that is quasi rigid quasi flexible to suit changing time, environmentally friendly and socially responsible. It must have the taste of fairness for all to compete, favorable taxing policy and encouraging incentives that can help actualize the desired results in a sustainable way. The license procurement system should be easily within reach and free of corruptions.
Bhutan the small nation is sparsely dotted with low density of population. Smaller the family happier it is and shorter the cord lighter the mass weighs. Having smaller population exerts lesser pressure on resources and easier to meet their needs but it has ironic impact on business sector. Larger the population higher the demand and higher the demand more the profit they can make. Therefore foreign countries are always on advantage front to boost their business due to absolute advantage of larger population. Bhutan on the other hand are handicapped from enjoying comparative advantages of demand from least population.
The ease of doing business cast long shadow on the successful endeavor of private firms. Every firms are the cog in the wheel of overall national development. Like a well-greased wheels runs best on smooth road, the best planned private firms requires ideal situation to function well. Like a bird having strongest wings soars highest and longest duration in the sky, the firm with highest profit maximization not only live but thrives a leading company in the world.
Cause of slow growth of private firm
1. Economic and means of trade
The mighty Rosaric Mountains and interlocking spurs serve as an iron bar to safeguard our nation from external foes but fails to serve as an ideal place for agriculture practice. The 60% thick lush green forests cover and steep topographies offer poor choice to farmers in cultivating bulky and productive cereals. These limited amounts hoarded face stiff competition against cheap and ample quantity in international markets. The available resources remain untapped ever for contrasting the GNH principles. Local small scale industries are facing tough time breaking through draught success due to expensive raw materials and low returns on the factors of production. In such condition private firm rarely flourishes.
2. Political and security
Working environment must be safe and supportive otherwise it would be challenge for any private firm. Should there be any political riots and chaos would hamper the flow of business. Sometimes political parties demean the national interests for personal gains and formulate policies which create havoc for the business community with stringent rules and heavy taxation. If the place is politically susceptible towards security no FDIs would come to invest or no new start-ups would be there.
3. Climate change and Ecology
Climate change has become mouth piece of every individual and is typical global issue where attention from all sides are required to fight against it. Major impacts are being felt in the Himalayan regions. Natural calamities are at the peak and food security is at stake. Due frequent change in weather and climatic conditions welcomes heavy torrents at the odd time and displaces required conditions at the bay. Land becomes unfit for cultivations and resources runs out when ecology gets disturbed. Private organization is prone to loss under unfit climate.
4. Modes of transportation
The Veins of the society circulatory system that supplies goods and services to fulfill the needs and wants of people excites how important the modes of transportation are. Bhutan being mountainous country do not have accessible to all modes of transportation. She is deprived of sea transport and railways. Even air transport is under limited usage while the most convenient land transport is surrounded by lots of problems from every fronts. In the first case there are handful of people who ventures into private business and among these we hardly see succeeding if not all ends up in smoke. Better the modes of communication will not only give the industries live but it will link the networks of world business. It’s the backbone of tourism industry.
5. Law
Legislature, executive and judiciary have big share of drafting, deliberating and billing the law of trade and commerce. Under the umbrella of effective business regulations each firm would be protected from showers of failures. Law that comes handy would enable them ignite the confrontments and embower them to beat failure and seize success. This is all about the terms and conditions for local indigenous industries and FDI companies.
6. Natural calamity
Nature is the good teacher but bad master. We get best if we do good and worst if we do bad to them. The force of nature is so harsh that strikes and take millions of life causing big damages to our properties. Calamities like earthquake, floods, forest fire has a potential of withholding developmental projects and that also demotivates private firm to venture into business. The wide outbreak of contagious and chronic diseases such as ebola, AIDS etc. would wipe out the possibilities of structuring private firms in the area. Such calamities would damage resources and displaces customers from one place to another.
7. Dignity of labor
Private firm is like a child born out of wedlock who is always down looked in the Bhutanese society although many changes has apparently come at this time of the year. Someone getting into private firm is dust in the eye of beholder and poison in their mind to think about it. This societal stigma needs awareness to blend all the private firms enjoys equal status with government organizations. This will act as a driving force for new entrepreneur to take challenges in coming up with creative and active initiatives. This is how we can build our nation strong and independent.
8. Risk taking
Bhutanese have a soft mind and tender character who all are easy goer. They are sentimentally ingrained towards religion which teaches cause and effect. As business is built upon lie and deceit which is not a noble deed but with living expenditure continuously making people feel the pinch propels them embark their journey upon private business. Private business venture is like getting hold of venomous viper. It requires guts and confidence to tame the viper without getting hurt and convert his venom into medicine. Likewise challenges are the stepping stone towards success. Difficulties takes us to higher level and serves us with better opportunities. Business is all about taking risks to beat its rivals in the market.
9. Resource availability
Bhutan the land of medicinal herbs has a pride of being blessed with abundance of natural resources. We have fresh golden water, prosperous golden biodiversity, beautiful golden land and clean golden air to breath. However all parts of country are not lucky enough to have equal share of resources. Due to unequal distribution of natural resources has hindered the growth of private firm. This has also caused economic disparity in terms of development and generating employment opportunities which is directly proportional to low purchasing power. With limited amount of budget in hand aiming to run private firm is like drinking water in dream just to quench our thirst that doesn’t have effect.
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