The business environment of Nepal is not favorable to businesses resulting from numerous reasons. Some believe that it is from political reason, some people argue that it has been due to lack of infrastructure, and some people say that availability of human resources is not enough for business. We have to agree that even in difficult situation, there is still scope of good business, and doing sustainable business in Nepal is not an easy job.
For some years, Nepal was focusing on manufacturing sector only and service sector was ignored. Due to the liberalization policy taken in banking, insurance and other sector, we can see significant growth in volume and depth. For other business of subsystem of service is yet to be emerged. Many entrepreneurs feel that a small market space investment or good quality service requires lot of research and infrastructure. In most cases, it is observed that the service products available in Nepal are already designed, implemented, and are popular in other parts of the World. Nepalese organizations are inheriting the service and providing that service in subversion with substandard features. Nepalese business organizations are only conversion agent of the services. It is difficult to find any service designed, implemented, and popular in Nepal has been projected to global market space by any business entity.
There are lots of research, theories, and notes that proved global market space is best option for enterprises in Nepal which provides increased sales, higher profits, reduction on dependence on traditional markets, diversified market, new knowledge, experience, and enhanced domestic competitiveness and global competitiveness. These are only a few points that supports positively to encourage Nepalese business entity to jump to the global market rather a big list can also be found considering nature of product. Likewise, there are number of theories and notes describing disadvantages moving to international markets.
How much is the gap in between the theories and notes that encourage business entity to jump to global market space and realm of doing business in global market and projecting services to cross border market? The transformation of theory in business to practical use-space fills a vast difference. Not all business organization is scalable, and most of the business entity failed when trying to expand their business in global market space. Business leaders have to address some key points while projecting their services in global market space. The first thing is to consider is domestic legal framework as well as countries where the service is offered and law of the land from where customer is expected. It includes passport, visa, foreign exchange limitations and financial movement and transfer framework
Before projecting service into cross border market space, the business organization should have complete domain knowledge of the product, in most cases spectrum knowledge is preferred. For service product, tangibility spectrum comes into effect so every encounter to customer and prospective customer to be treated with high consideration. The image of the company, products attributes and people in-front and behind must meet industry standard and comply with category standard. Company brand also comes into consideration that includes language and color used in letters, flyers and brochures, paper quality and size, and framework of information delivery.
Finalization of service encounter will be fixed upon considering business situation of domestic as well as country targeted, marketing lifecycle, festive occasion, fiscal year ending/starting, resources available and utilization. If the service is time framed/bound political situation and geographic location need also be considered. If the targeted customers are from landlocked countries, preferred service encounter place could be sea shore and for sea attached counties, the place can be Himalayan region.
Market research can help to find out the cluster of customers. It will help to direct and concentrate marketing activities in the location so that marketing cost can be reduced. Proximity and connection of rail, road, and flight and its frequency to service encounter place is important to attract customer from distance places.
The service is closely related to other logistics like travel arrangement, visa processing, accommodation booking, the organization has to maintain integration with related trusted partners. If food is served during the service delivery, consideration of vegetarian and non-vegetarian issue will come. In some cases, people do not prefer seafood and availability of Muslim foods issue will arise.
The organization has to show evidence of adequate skill, managerial and financial capabilities, and experience to prospective customer. These can be achieved through sales, photographs and media coverage of same or related service delivery to domestic market. If business organization cannot scale to deliver the service to customers from global market space, it can jointly go through partners of different location. A sincere preview is needed to figure out the revenue and resource to be shared with partners.
A service product export can be suitable for Nepalese business entrepreneurs since country is facing unpredictable political and business environment. A careful service product design by domain experts and marketed to regionally and globally by the team with knowledge and capacity and industry standard service delivery is inevitable. A handful of global market prospects are awaiting, we just need careful exploitation of them.