The flagship event provided invaluable insights, inspiration, and recognition to the sales and marketing professionals who continue to drive the growth and success of businesses in Nepal.
the HRM
Bringing together the best minds in the corporate world and academia, Growth Leadership Academy organized the seventh edition of its annual event Sales Summit 2023 on August 25 in Kathmandu.
The one-day event was inaugurated by Dr. Pawan Agrawal, founder and president of Kamalabai Educational and Charitable Trust, Mumbai, and former CEO of Mumbai Dabbawalas. Organized with the theme “Staying Ahead in Difficult Times”, the summit saw the active participation of over 200 people from the Nepali corporate fraternity.
Sales Summit 2023 provided invaluable insights, inspiration, and recognition to the sales and marketing professionals who continue to drive the growth and success of businesses in Nepal. The various sessions, discussions, and presentations offered a comprehensive understanding of the challenges and opportunities in the current dynamic business landscape.
The proceedings kicked off with Dr. Kishore Dhungana decoding the latest revenue growth trends of 10 major industries. The opening session titled ‘Industry Sales Analysis Report’ dissected and analyzed the revenue growth trends of industries including banking and finance, insurance, fintech, ISP, construction service, automobile, FMCG, hospitality, airline, and education.
What emerged from the presentation was a sobering reality: a downward trend in revenue for the majority of these sectors. The data presented during the session unveiled a challenging landscape, confirming that Nepali businesses are indeed grappling with formidable economic hurdles at present. Amid these turbulent times, there was also a glimmer of hope as the ISP industry, hospitality industry, and airline industry stood out as exceptions, showcasing resilience and growth. The ability of the entities in these industries to navigate adversity illuminated the possibilities for others and served as an inspiration for the entire business community.
The first session set the stage for subsequent discussions, highlighting the importance of adaptability, innovation, and strategic thinking to not only survive but thrive in a volatile business environment.
The second session by Dr. Pawan Agrawal was a high-octane sales motivation session titled ‘ Let’s Touch the Sky’. Dr. Agrawal embarked on a journey that celebrated the remarkable achievements of the Mumbai Dabbawalas, the legendary organization known for its unparalleled precision and efficiency in delivering lunchboxes to thousands of Mumbaikars daily.
Drawing from his extensive experience and insights gained during his tenure as CEO of the Mumbai Dabbawalas, Agrawal urged the participants to break free from the confines of mediocrity and rise above the ordinary. Central to Agrawal’s message was the notion of pride in one’s work. He emphasized that, just as the Mumbai Dabbawalas take immense pride in their mission of delivering meals efficiently, every sales professional should take pride in their role.
The third session featured a panel discussion on ‘Cultivating a Winning Sales Culture’. The panelists include Akshay Golyan, Managing Director, Golyan Group, Rohit Gupta, Vice Chairman, Ramesh Corp., and Seema Golchha, Director, Him Electronics and the session was moderated by Shishir Pachhai, CEO of Kantipur Television and Kantipur FM. The panelists delved into the intricacies of establishing a successful sales culture within Nepali organizations.
The session explored various facets of nurturing a successful sales culture within Nepali organizations. The session underscored the importance of strong leadership, effective communication, holistic target setting, and innovation in ensuring sales teams thrive, even in challenging economic circumstances.
Seema Golchha stressed on the paramount role of leadership, emphasizing the need for a company’s ethos to be clear and transparent throughout all levels of the organization. When asked about the rationale behind setting sales targets for salespeople, Rohit Gupta said that sales targets should be based on the total market size and the desired market share. Gupta emphasized the importance of top-level strategy adoption and implementation, asserting that pressuring salespeople with targets alone would not yield optimal results. Akshay Golyan advocated for participatory target setting and continuous monitoring of budgeted versus achievable targets. Setting ambitious but realistic sales targets was deemed essential for motivating and challenging the salesforce effectively.
Harkirat Singh Bedi, Business Head-SAARC, Dabur Nepal delivered a keynote session on ‘Staying Ahead in Difficult Times’ in which he shed light on the contemporary challenges businesses facing in Nepal and provided valuable insights on how to navigate through these trying times. “In the time of recession, there will be repercussions on consumer behavior and sales patterns,” said Bedi, adding, “Consumers, grappling with tougher economic conditions, sought more value from their purchases. They shifted to lower-priced brands, downsized their packaging preferences, and became increasingly price-conscious.”
Bedi underscored the multifaceted challenges that difficult times bring to businesses. “Sales decreases, revenues dwindle, profit margins erode, debtors increase, working capital is impacted, and ultimately, profits suffer,” he said, “In such an environment, the salesforce bears the brunt of the challenges, making it crucial for them to maintain their belief in navigating these turbulent waters.”
His Eminence Shyalpa Tenzin Rinpoche talked about ‘Stress Management’ in the fifth session. In his presentation, Rinpoche delved into the intricacies of the mind and the art of navigating stress in our lives. Commencing the session, Rinpoche asserted that stress is fundamentally rooted in the mind. He encouraged the participants to discover freedom, joy, and celebration in serving others. He highlighted the notion that service is not a burden but a gateway to fulfillment and enlightenment. In serving with an open and compassionate heart, individuals can unlock the profound benefits of stress-free living.
The sixth session was centered on ‘Modern-Day Sales Challenges and Solutions’ in which panelists collectively emphasized the inevitability of digitization in the future and the imperative for industries to adapt and harness its benefits while overcoming associated challenges. In unison, they acknowledged that embracing digitization is crucial for staying ahead in the ever-evolving business landscape.
The session had Manoj Gyawali, Deputy CEO of Nabil Bank Limited, Sharad Chandra Ojha, Executive Director of Ideal Pharmaceuticals, Prashant Kumar Mathur, Country General Manager, Sales and Marketing of JGI, and Pranaya Ratna Sthapit, Director of Samsung Nepal as panelists and Punam Singh, Group Chief Marketing Officer of Chaudhary Group as the moderator.
Manoj Gyawali shed light on the challenges of the banking sector, including the difficulty created by the cut down on branding and promotional expenses to reduce costs, unethical practices adopted to achieve growth, a lack of adequate data and organized research, the difficulty in motivating the sales team within the organization, random target setting, and customer retention challenges.
Presenting unique challenges of the pharmaceutical industry, Sharad Chandra Ojha said that the health industry has become “unhealthy,” with a significant shift from allopathy to nutraceuticals. “Stringent regulatory approval processes and an overwhelming number of medicine brands in Nepal added to the industry’s challenges,” he said.
Pranaya Ratna Sthapit shared insights on the challenges faced by the mobile phone industry. Stating that the domestic mobile phone industry is on an overall decline, he underscored the need for innovative strategies to maintain market position.
Prashant Kumar Mathur outlined the contemporary challenges in the alcoholic beverage industry. He highlighted working capital constraints, the shift from traditional outlets to new channels like e-commerce and digital platforms, and the need for omnipresence.
Anand Munshi, an international keynote speaker and executive coach as well as corporate trainer spoke on ‘How to Sell in a VUCA World?’ in the last session of the summit. In his presentation, Munshi delved into a multitude of insightful perspectives on selling effectively in a Volatile, Uncertain, Complex, and Ambiguous (VUCA) world. He emphasized the importance of continuous learning and adaptation. The concept of alignment toward success was central to Mr. Munshi’s discourse. He emphasized that individuals cannot afford to be aligned with failure and must actively steer their efforts toward achieving their goals.
Honoring the Excellence in Sales and Marketing
The Sales Summit 2023 concluded with a glittering award ceremony that celebrated excellence and innovation in the fields of sales and marketing. A total of 11 outstanding organizations and 10 individuals were honored with the Sales and Marketing Excellence Awards for their exceptional contributions to the industry. The winners were chosen after a rigorous evaluation process, reflecting their dedication, innovation, and impact on the industry. An eminent jury, comprising esteemed academicians selected the deserving recipients of the awards. The jury meticulously evaluated the nominations based on data and information furnished by an independent research firm. The jury included Dr. Binod Krishna Shrestha, Professor, School of Management, Kathmandu University as Jury Head and Ashish Tiwari, Director & Principal, Ace Institute of Management, and Binita Manandhar, Lecturer at Shanker Dev Campus as jury members.
