PROFIT & HUMANITY: A Classic Entrepreneurship

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An English poet John Donne says – man is not an island entirely of himself. He is a part of the main. These beautiful words suggest that individual is an integral part of the society. These words also draw our attention to the inevitable question: If man owes so much to the society, what are his obligations towards it? The query becomes even more relevant in the present era of globalization and modernization where the lustrous profit oriented ventures have eroded away ethical and moral conceptions.

Statistics from various organizations provide a firm proof that young entrepreneurs are becoming a part of the sordid only-money-no-humanity elite class. But to great relief, there exists a section of entrepreneurs, thriving amidst the aforesaid dangerous elite class, which has ignored the leeway. This section has vigorously maintained an element of humanity in its business ventures without compromising on the part of profit. Dr. R. Chandra is one such glaring example from this very section.

A 2007 pass out from the Institute of Rural Management (IRMA), Dr. Chandra works in the field of microfinancing.(Wikipedia defines microfinancing as the provision of financial services to low income clients including consumers and the self employed who traditionally lack access to banking and other related services.) Microfinancing is one such initiative which can alleviate the lives of millions and at the same time provide huge benefits to the stakeholder.

 

Dr Chandra was deeply moved by the plight of poor people right from the outset of his student hood. A bright student, Dr Chandra graduated out with flying colours. He was offered with numerous jobs but the desire to serve the society encouraged him to take a new stance. Thus, he returned to his hometown and established Bihar Development Microfinancing in 2008.

As an amateur, Dr Chandra witnessed many stumbling blocks but he overcame all the difficulties. Initially, the venture was started with a meager amount of Rs 35,000. He used this amount to buy a laptop and a data card. His next step was to explain his plan of action to different people in order to get financial assistance. He used internet as a medium and was able to convince not only his circle of acquaintances but also the strangers. All these efforts proved fruitful and an amount of Rs 5 lakh was collected in the first year. Gradually this young entrepreneur’s business grew. First year of the business was marked by a distribution of Rs 85,000 to 15 poor silk weavers and farmers.

By the third year of the venture the small sapling planted by Dr Chandra had grown into a fruit laden tree. Till 2011 the company has distributed about Rs 2,50,00,000 to about 2700 needy people. Besides this, the company also provides marketing support to silk weavers and farmers.

Amidst this, what is most satisfying is that Dr Chandra gains an yearly Rs 50,00,000 from the venture. This proves that microfinancing is profitable and the satisfaction of being valuable to society is cherry on the cake.

The future plan of the company is to establish a crore rupee firm which would work for the development of farmers, weavers and other deprived sections of the society. The employment opportunities which would be generated by the firm’s establishment are a bonus.

 

Lord Buddha once opined “Nibbana (nirvana) cannot be had on empty stomach.” These meaningful words instigate us to serve the society. These words are even more meaningful to the young, talented entrepreneurs who can take a step. Dr Chandra’s glaring example rightly proves that profit in one’s entrepreneurship venture combined with elements of humanity is not utopian. Every kind step taken by the entrepreneurs will take the humanity a step nearer to the good and the beautiful.

Authors:

Apurva Maheshwari & Nishant Kumar
Patna Women’s College & BPUT, Orissa
About Apurva : Apurva has done her schooling from Krishna Niketan,Patna.She completed her HSE from Patna Central School,Patna.She is currently pusuing her graduation in Political Science honors Part II from Patna Womens College. Her favorite pastime are sketching, painting, & listening music.

About Nishant: Nishant has done his schooling from Carmel Convent School, Giridih. He completed his HSE from Vikas Vidyalaya, ranchi. He went on to complete his engineering from BPUT, Orissa. He is now working as an Asst. systems Engineer for the TCS firm. His favorite pastime are writing stories and short articles, listening and playing music, and coding.

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14 Comments

  1. kriti says:

    its a nice article ………..well illustrated and written

  2. shikha s sinha says:

    well written…!!!

  3. shikha sinha says:

    Nice article.

  4. Prasad says:

    Good article well written …  good job, congo Nish n Apurva..

  5. Gr8 and nice article and best wishes both for you.

  6. Vikash Nandan says:

    Gr8 and nice article .

  7. sundaram says:

    excellent

  8. jyoti says:

    nice article yaar…………. i enjoyed to read it, good jod………….and wish u to win the compittion.

  9. rashmi says:

    nice article

  10. manjari says:

    This ones is a very nice article written by both of you, well versed and highly appreciating. I loved it.

  11. munni handari says:

    bahut accha hai……..padha kr accha laga……nice written………described……..gooooooooooooooooooooooooooooooooodddddddddddd…………..ab jada kya likhu……..samjh me nhi aa rha…………

  12. priyanka kumari says:

    nice article ..well written, congrats u both for ur writting…..bt that part of buddha was varry good……for mentioning that 1 thanx…..in all this one is tooooooo gooooooooooooodddddddddddddd………..

  13. neha says:

    nice article…….love to read dis and verry well described……thnx 2 neha 2 informing…….and apurva vrry well done…….and congo 2 both of you for ur writing and selection u will win <3

  14. Abhishek Sinha says:

    An excellent read – an illustrious example of social entrepreneurship. This is an example of perfect blend of profitability and serving society; and above it, it is so well written. Micro-finance is really important in Asian countries where financial inclusion has failed so badly at the bottom of our pyramid.7

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