In continuation to my previous article on Invisible capital ….For Cost Practising Community assets are the values and power which are being created through synergy of knowledge and Age. Cost Accountants are currently reeling under the pressure from all professional angles. In these situation its better to create community values by joining hands with young practising members and indulging them with new ventures of exploring business opportunities for the practising and for the members.

The biggest benefit of this would be the profession itself. I know that many members or rather most of the members would come with the view that why one should share his business secretes with another young inexperienced fellow. Well you help him and guide to explore the world opportunities rather than sharing your business profiles. Its like enhancing the business opportunities with the deployment of human capital and social capital which creates community assets in the forms of strengthening the profession of cost accountants. Senior cost accountants should come with legal enforcement with young practising members. The professional development should be like a society which is acting in small parts to develop the profession which is the civilization. Senior Cost Accountants must understand that cultivating practising is the key for the growth of the profession and not employment.

 In my research I have found that the prime factor behind holding back not to get associated with young practising member is the blind practice of mutual trusting which often might lead to a loss of business. Hence its prudent to get into a legal binding where data protection is legally protected so that joining hands should turn out to be productive. We don’t need more practising members, we need better trained entrepreneurs. We do not lack the entrepreneurial vigour and creativity in this country; it’s abundant.  But, the ones that have the greatest energy and orientation to pursue full time entrepreneurship are not properly prepared. And unfortunately, that is particularly more likely the case for entrepreneurs who do not hail from broadly privileged backgrounds.

The senior members should promote practising since the development and recognition of a profession is not dependent on the jobs market. The more practising members come and open up the new areas of operation the more space of operation increases. We need to come out from the traditional practising areas and become competent to thrive internationally. Unless we think big we can’t create difference. In my previous article I told that attitude is the key changer. I repeat the same here for the senior cost accountants that we need change in our attitude.    It being found that before we qualify we develop a attitude that we will go for service. The reason behind is that lack of proper guidance and support of the experienced people in the system.

Today all these senior and mid level practising cost accountants are working hard to survive their profession making efforts to reach out to others with these values. But I am deeply dejected at heart to say that we are not doing it with proper mechanism. We need to understand that we need team work to grow the business. As a young practising fellow or rather an entrepreneur I find that we possess all the equipments like proper team structure, good personnel, a strong vision for the future, and an appetite for risk taking but we miss the fire. The fire is nothing but process for converting the raw materials of innovation into real-world breakthrough successes. This is the area where the senior practising members can come together with the young practising members to build the community assets for the profession.