Day III (GEW Bhutan): Accounts, books and a happy business!
Today, at the ongoing Global Entrepreneurship Week event at Tarayana conference hall, stress was put on the importance of accounts and book keeping in a business.
“How to account the money is key to success in a business,” said Mr. Ugyen, a trainer and consultant with the Institute of Management Studies as he started his session that went on until lunchtime.
As he talked about the importance of the accounts, he said that it is mandatory in the operation of a business. “Otherwise, we can not understand the profit and loss of a business and you wouldn’t know where to focus,” he said.
Explaining the requirements of accounts in a business, he said that most of Bhutanese entrepreneurs ignore the need of accounts following the myth of accounts as something that cannot be done without academic knowledge. “You do not need academic knowledge of accounting, you only need applied knowledge”, he said.
By the end of the session, participants were convinced that the habit of taking accounts lightly in the Bhutanese business system needs to change. “I will make sure I don’t be negligent with my accounts,” said Karma, a participant.
After lunch, Dr. Ha Vinh Tho made a presentation titled ‘Towards Economies of Happiness: Challenges and Opportunities for Young Social Entrepreneurs,’ in pursuit of entrepreneurship towards happiness.
According to him, while entrepreneurship is a passion, the opportunities of a social entrepreneurship comes with challenges.
As he talked through the challenges, he highlighted the ecological challenge of the world consuming more than what it can produce. The existential challenge of the gaps of haves and have nots are increasing and the suicide rate are alarming. He pointed out that even the developed countries like USA and Europe cannot escape from social challenges such as high unemployment rates.
“The iron rice bowl is not going to return,” he said talking about the Chinese metaphor of iron rice bowl. He said it is time to create job but not look for jobs. “Having the courage to look at challenges the world is facing is social entrepreneurship,” he said.
Continuing the session after tea break, Andrew Richard Martin, a sales and marketing consultant, also stressed social entrepreneurship citing examples of some social enterprises in his talk entitled “GNH (Happiness), The Next Global Revolution for Business & Social Entrepreneurs”
He cited the example of a shoe making company that produces biodegradable shoes with seeds in them as one of the best examples of social entrepreneurship.