The first Round Table was formed in Norwich, England in 1927. It was a club where the young business men of the town gathered on a regular basis. Louis Marchesi, founder of the Round Table International used to mention three things: there are things we must do, there are things we can do and there are things we should do. He was of the view that chance can be achieved with young minds. The same organization has been working in the various parts of the world now with the aim of increasing youth’s involvement in businesses. Siromani Dhungana of the New Business Age spoke to its President Moffat Nyirenda during his recent visit to Nepal on issues surrounding youth entrepreneurship among others. Excerpt:
RTI emphasizes on youth involvement in business. Why?
The young generation is the future of the society both in the corporate as well as in the civil society. So, it’s very important to emphasis on them. Young mind is always very inquisitive so it can be easily tapped and prompted for entrepreneurship.
How important is ‘inquisitive mind’ in business?
First of all, the world has been very dynamic and the issue of globalization has emerged as a crucial issue. The world has become really competitive. If you do not have inquisitive mind, you will easily die in the corporate world. You should always check the challenges and find out possible solutions to overcome those challenges. Also, you have to expand your business contacts. And only inquisitive mind can identify what’s going on around the world.
It is said that businessmen always seek favour from political parties. Can business organization run without political inclination?
Yes. If you have political inclination sometimes you have to compromise your business interest. Your professionalism, your business opportunity can face adverse situation due to direct political affiliation. So, it is extremely important to maintain neutrality in business.
The phrase adopt, adapt and improve is a key facet of the RTI. How do you relate this phrase in business organization?
Yes, adopt, adapt and improve have always been our motto since our establishment in 1927 when young entrepreneur members felt the need for a club where they could come together with similar members and share their business experiences. In business ‘adopt, adapt and improve’ is very relevant. First, we have to adopt the situation then we have to adapt it and we have to improve our way of doing according to necessity. The world is very dynamic, we need to adopt and also be ready to improve. This phrase is equally important in society too.
How to inspire young generation in business sector?
There are few aspects. First, young generation should realize that they need to do something. World is dynamic and this means that they will have to face the new challenges now and then. This realization leads them to involve in entrepreneurship. Further, they should realize that they have to contribute in the society. And, entrepreneurship is the best way to do so. Further, all concerned stakeholders should always encourage youth generation to be involved in entrepreneurship.
What is more important: investment (capital) or idea to set up new venture?
It depends on the how the country is structured. Idea and innovation is a must to start new venture for entering into the business world. At the same time, we cannot set up new business without capital. So the government, in many countries, provides special facilities and loans to innovative minds to let them start new venture. There should a balanced approach between capital and idea.
