Concept Paper

MY HOME

Care and love the younger and respect the elders. This has been observed as one of the sweetest phenomenon of our society. Joint family, females serving as housewives used to take all the responsibility of caring younger and elders. The males on the other hand take the responsibility of heavy works and providing necessary things to the family. But the days are changing. Population ageing is a major global trend that is transforming economies and societies around the world.Most of the adults prefer to stay in nuclear family, migrate abroad for better future in search of good education, good job and good environment for their career. If we analyze the data, there are rare cases of returning of the adults coming back home after achieving their goal. Furthermore CBS indicates that the life expectancy of developing nations is increasing. These situations have serious impact on elders. Once the adults went abroad, elders feel alone and are compelled to go through the stage of depression and loneliness. There are many examples whereby the elders do not get proper care at the time of sickness and other daily activities. Similarly, there has been increasing number of elder abuses, physical, sexual, financial, behavioral and emotional. Finally, those who decide to stay on a nuclear family, leave their parents alone. Globally, the number of elder people ranges as follows:

EMBA Spring 2012, Ace Institute of Management

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In Nepal, the elder people refers to the people who are 60 years and above. The elderly population constitute 6.5% of the total population in 2001 whereas the elderly population on 2011 constitute 9.13% of the total population. Out of the elder population, 14.34% of total population reside on urban area and they are economically inactive. According to demographic theory, the increase in elder population results either from decrease in fertility or by reduction in mortality of the elder people. The increase in elder population in Nepal is due to both the reasons but mainly due to the decrease in fertility rate. This is because many young couples favor to have their child at the later age of the lifecycles. This will further increase elder population in future. This fact is supported by the result of census 2011 which shows that 57.4% of total population belongs to the age group 15-59. Statistically, the life expectancy at birth on 1984 was 50.42 that increases to 58.10 on 1994, to 64.24 on 2004 and reached to 67.55 on 2011. This shows that the number of elderly population is increasing rapidly. The census also shows that 14.34% of the elder population resides on urban areas and they are economically inactive. When I visit Australia, I found so many retirement colony and apartments for senior citizens. The retirement fund from the senior citizens are collected on those colonies and apartments and they provide their necessities. Under the telephone conversation with Mr. Krishna Gautam, founder of Ageing Nepal, although there are around 50 institutions who provide the services to elder people but most probably one or two are commercialized and these too are not stable. They initiate the venture and simultaneously close it when they feel it is not a good business or for some other reasons. Under this circumstances, there exists the ample opportunity of business with this aged people in Nepal. And the concept of MY HOME is developed. MY HOME will be located some 3-4 km from the center of kathmandu city at Tokha. It will consists of 5 ropanies of land. The project will have the capacity for 50 residential elder people (10 couple and 30 individual) and 50 day care members at a time. The project will have the team of devoted personnel for the care of the elders under the guidance of experienced staff nurse 24*7. Any major and complicated illness will be referred to Grande Hospital which is nearby the project site. MY HOME will have walking trail, library, computer lab, meditation class, Bar, fitness club, sports club, laundry services and other services on request. They will be charged NRs. 42,000

RAJU KARKI, EMBA Spring 2012, Ace Institute of Management

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per couple and Nrs. 22,000 per person before tax for residents and NRs. 18,000 per person for day care services. The charges consists of accommodation and meals during the stay and service provided to them. Any additional facility like hospital charge, medicine, laptop and its accessories will be charged accordingly. The telephone charge is free upto NRs. 500 per month but customer will have to pay beyond that limit. The project will have six buildings. Two of them will have two storey, two apartment in each storey. One will have two apartment on first floor and administration on ground floor. There will be a common room on the next building with computer lab, library and fitness center on the first floor. There will be kitchen, dining area and bar on the next and the residential building of 4 storey with 5 rooms in each. The human resources will be arranged after consulting with the HR consultant. The human resource will be provided with good remuneration and will have retirement plan as well. The quality of the service will be maintained so as to attract the customers from word of mouth. This business will depend on personal recommendation hence there will be less advertisement. The more importance will be given on operation so as to keep the existing customers happy with our services.

RAJU KARKI, EMBA Spring 2012, Ace Institute of Management

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I. II. III. IV. V. VI. VII. VIII. IX. X. XII.

Executive Summary Background and Introduction Products and Services Industry/Market Analysis Marketing Plan Production, Operations and Organizational Plan Human Resource Plan Environmental and Social Issues Financial Plan Risk Analysis and Contingency Plans Appendices and Supporting Docs

RAJU KARKI, EMBA Spring 2012, Ace Institute of Management

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