live biography of two entrepreneur of sylhet city

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Assignment

OnLive Biography of two Entrepreneur of Sylhet city

Course title: Entrepreneurship DevelopmentCourse code: BUS-334

Submitted to:

Mr. Bashir Ahmed BhuiyanDepartment Head

Of Business Administration

Submitted by:

Name Roll

Md.Maidul Islam 0901010017

Nishita Roy Toma 0901010026

Safinaz Amin Anni 0901010028

Chy.Nasira Sultana 0901010032

Tasnia Humayra 0901010042

Shanu Uddin Rubel 0901010054

Nurul Amin 0901010229

Sajia Ahmed Chowdhury 0901010021

Section: ALeading University, Sylhet

Submission Date: January 4, 2012


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Letter of Certificate

I am extremely pleased to declare that the following group of students has been given with the

topic Live Biography of two Entrepreneur of Sylhet city for writing an assignment. They

have reviewed all the relevant literature and have surveyed the assigned organization for

collecting of both primary and secondary data. I have supervised them throughout the

preparation of the paper.

I also certify that the paper is an original one and has not been submitted elsewhere previously

for publication in any form.

I believe they will try to do their best in all phase of their live.

Mr. Bashir Ahmed Bhuiyan

Department HeadOf Business AdministrationLeading University, Sylhet


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4th January, 2012

To,

Mr. Bashir Ahmed Bhuiyan

Department Head

Of Business Administration

Leading University, Sylhet

Subject: Letter of Submission

Dear Sir,

We were given the topic Live Biography of two Entrepreneur of Sylhet city for writing anassignment for presentation and collection of primary and secondary data. To do so, we soughtthe relevant information in books, journals, and the assigned organization.

We tried to collect all possible information and make this paper acceptable to all but there can bestill existing mistake. So we like to request you to consider if any fault is found in paper. Lastly,we would like to request you to accepted our paper and permit us to present it before the panel ofexperts.

Thank you in advance for your assistance and advice in this connection.

Yours obediently

Name Registration no

Maidul Islam 0901010017

Nishita Roy Toma 0901010026

Safinaz Amin Anni 0901010028

Chy Nasira Sultana 0901010032

Tasnia Humayra 0901010042

Shanu Uddin Rubel 0901010054

Nurul Amin 0901010229

Sajia Ahmed Chowdhury 0901010021


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Acknowledgement

We are very lucky that we have got lots of support or cooperation from various people while we

were preparing this report. At first we express our respected our course mentor Mr. Bashir

Ahmed Bhuiyan, Department Head of Leading University, Sylhet for giving us such an

opportunity to prepare an assignment on Live Biography of two Entrepreneur of Sylhet city

which is a great chance to increase our knowledge about training sector, particularly

effectiveness of training.

We are also thankful Mr. Bashir Ahmed Bhuiyan and our classmate who helped us directly and

indirectly to prepare this report.


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Executive Summary:

Entrepreneurship is more than simply starting a business. The definition of entrepreneurship is

a process through which individuals identify opportunities, allocate resources, and create value.

This creation of value is often through the identification of unmet needs or through the

identification of opportunities for change.

Entrepreneurship and economic development are intimately related. Schumpeter opines that

entrepreneurial process is a major factor in economic development and the entrepreneur is the

key to economic growth. Whatever be the form of economic and political set-up of the country,

entrepreneurship is indispensable for economic development. Entrepreneurship is an approach to

management that can be applied in start-up situations as well as within more established

businesses. The growing interest, in the area of entrepreneurship has developed alongside interest

in the changing role of small businesses. Small entrepreneurship has a fabulous potential in a

developing country like Bangladesh. So, statistical data and its analyses of several countries

show that small industries have grown faster than large industries over the last couple of decades.

Large industries first lost jobs while small industries created new workplaces.

This assignment attempts to provide synopsis on Live Biography of two Entrepreneurs of

Sylhet city. In this assignment we will also discuss about how they able to change their socio

economic condition through the process of entrepreneurship. In this paper we will discuss about

the problems they are facing in case of doing business and how they take strategies to get

competitive advantage then there competitors.


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Table of Content:

Topics Page No

Introduction 1

Objective of the study 2

Limitation of the study 2

Case 1: Bhowmick Jewelry Shop 3-17

Case 2: Firuz Miah and Sons 18-23

Conclusion 23

References24


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Introduction

Over the last two decades, entrepreneurship has been amongst the fastest growing area of

economic and business interest and research all over the world. If entrepreneurship is defined as

a process of creating new and valuable things (Hisrich and Peters 1989) and if entrepreneur is

someone who perceives and exploits opportunities (Drucker 1985) then entrepreneurial process

is a major factor of economic development and the entrepreneur is the key figure of economic

growth. The growing interest in the area of entrepreneurship has developed alongside interest in

the changing role of small businesses. Statistical data and analyses of several countries show that

small ventures grow faster than large firms, and over the last decades large firms lost jobs while

small firms created new workplaces. In addition, small firms are found to be the major source of

new innovations. This increasing importance is also due to some major changes in the business

environment such as harsh global as well as local competition, sudden and unexpected alteration

of the demand, the acceleration of the technological development, and consequently, the increase

of risk. Innovation, immediate adoption and reply to changes, and entrepreneurial behavior have

become vital not only for development but also for survival of the businesses.

So we can say that Entrepreneurship development is extremely important for a countries

progress. As a developing country like Bangladesh an entrepreneur can play grand role for socioeconomic development. Bangladesh Government tries its best to make available facilitating role

for the development of Entrepreneur.

As a student of business administration it is important for us to have a better knowledge in

Entrepreneurship. For that reason we chose live biography of two entrepreneur of Sylhet city

as our assignment topic.


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Objective of the study:

Primary objective: Our primary objective is to know about the live biography of twoentrepreneur of Sylhet city.

Secondary objective: To know about the problem & barriers they face in case of doing business. The Opportunity of new enterprise development in Bangladesh. How Entrepreneurship expansion can help to develop socio economic condition of

Bangladesh.

Limitation of the study:

Though a very comprehensive and a well organized report has been tried to be produced butthere are still some limitations present here.

o Because of sensitiveness, the sector does not want to disclose information about thetechnical information, which led to the shortcomings of this assignment into some extent.

o The authorities are so busythat they could not give us sufficient time for discussion.o There is a lack of available data regarding the assignment topic in Internet.o Have lack of experienceabout practical work.


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CASE 1

Bhowmick Jewelry Shop


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Profile of the organization:

Name of the founder: Rajib Bhowmick

Year of the Establishment: 2004 Location: Shop 1

ZindaBazar,sylhet

Shop 2

Alhamra shopping city,

Chuhatta, Sylhet.

Product: Ornaments Starting Capital: 2,57, 97,400Tk Total Employer: 20-25 Monthly Sell: 9, 00,000 tk. Tel-phone: 01711835669(mob) Open From: 10 am to 11:00 pm


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Rajib Bhowmick

Starting with a capital of Taka 2,57,97,400tk in 2004, a young man of Sylhet has become a

business tycoon. He started his journey in the business arena with a simple Jewelry business.

And today he is the proud owner of two big well decorated well known jewelry shop.

Family Background

Their family was a joint one. He has only one sister. He is the eldest among the children. His

father also was involved in jewelry business. He imported commodities from Dhaka and sold

them in the local markets in Sylhet. From his family he got enough support to exercise his liking

and he got enormous support from his family to start his own venture.

Educational Background

His brilliant educational career has made him different from other business man. He passed

S.S.C. in 1994 from Aided High School and H.S.C. from M.C. College in 1996. Then he

completed his BBA and MBA in 2002 from Leading University, Sylhet.

Though he has an enriched academic background, he did not have any knowledge or training in

this business field.

A Brief on Jewelry

People started wearing jewelry, as symbols of something, be it power, religion, mysticism, status

or profession. Not only was jewelry symbolic in design to announce to the world that the person

wearing it was but mystic powers were also attributed to the stones and materials jewelry

ornaments actually it creates the beauty of women from the far years ago tradition by tradition.


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Adorning the women

Jewelry-no look can be complete without it. It is always womens best desire for any ages . Over

the years many new materials with which jewelry is made as well as new designs have evolved.

The jewelry a women wears define her personality and gives her a suave, elegant look. It is

beautiful on its own and enhances the person wearing it. Women cant merry in our Asian

tradition without wearing the jewelry ornaments not only the whole over the world women wears

the jewelry ornaments to see them gorgeous, and its being their passion.

Clothing fashion may change a once trendy clothing accessory may become out of fashion, but

the popularity of every type of jewelry ornaments like gold, silver, white gold, pearl, diamond,

platinum, stone setting jewelry, imitation jewelry and other type of jewelry has remained

unblemished over the years.

Various types of jewelry ornaments

Gold-is the very delicious item in jewelry ornaments. The quality of gold considered the

analytical aspects that mixing a particular quantity of carat with the pure gold, which is called

carat to identify the purity of gold.24 carat is counted as pure gold. In the pure gold there have

to mix carat for tempering the gold to make the different quality of ornaments like 23 carat,22

carat up to 9 carat can be make the ornaments 18 carat gold ornaments are very much favorite in

European country. In Bangladesh as well as in Asia region 22 and 21 carat gold ornaments are

most common in the market and get popularity for being the yellow color of it.

In our tradition gold is used from the prehistoric time and it is must used in marriage ceremony,

birthday party and the other valuable occasion as well as to looks women gorgeous. Traditionally

the gold jewelry has adorned the hands, neck and ears of women in our region for generations.

Women, especially married women have been known to wear gold jewelry, a necklace pear of

bangle or abracelet, earrings, wherever they go. So gold jewelry is huge part of our culture that

crates a large amount consume of gold. In the present market the selling price of 22 carat gold is

Tk47,250 per 10 gram and 21 carat gold is Tk 45,500 per 10 gram. Making will charges extra.

Whole over Bangladesh the price of gold is same and it is controlled by the government followed

the price of international market.


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Silver-has only one quality there has to mix particular amount of carat to make it hard for

preparing the ornaments. When silver jewelry was produce in a large scale in the religion it was

usually in the range of necklace, earrings, bracelets, rings, broaches, pins etc the price were

generally small, sized to sell cheaply. As in the modern fashion, silver jewelry makers a lot of

polish in the ornament, where as fifty or more years ago. The jewelry would live more areas

tarnished, or darkened, to enhance details of the design. The best part of the silver jewelry is that

wears well anywhere, anytime and wish amount any style of dress. Silver jewelry is by far the

most popular in the present time. Women especially young women, do not consider there jewelry

collection complete unless they have a variety of rings, bracelets, bangles, earrings and necklaces

of this metal with universal appeal. The price of silver in present market is Tk 1400 per 10 gram.

White gold-the metal, which took like semi silver color and naturally hard then gold. It is made

polish type of ornaments and most of time this metal is used to make the Diamond setting

ornaments. The price of a ring of white gold started from Tk.3500. In Bangladesh the white gold

is not favorite as jewelry ornaments. And it is not make yet in Bangladesh only some imported

item it will get in the market.

Platinum-is a metal, which color is like steel and it is very costly to make the ornaments. It is

very hard and used for most of the costly stone like Diamond, Rube, garcon etc setting jewelry

ornaments has made. The price of platinum jewelry starts from Tk.15000 for a simple set of

necklace and earring. In Bangladesh it imported from Hong Kong, China, Singapore, Thailand,

and India.

Imitation-Is very favorite item for every lady. From various group of metal like bronze, silver,

custard mixing together it prepares imitation. It is less costly and has the variety of design that

women can purchase easily. And for various kind of design they fill very comfort to match with

every dress. The imitation jewelry gets much popularity to every woman, teenagers now days the

saving from the hijacker. Imitation also colored like the gold ornaments so it is also a substitute

of gold ornaments. Varity of imitation jewelry the price starts from Tk300 to Tk7000.


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Other types of ornaments-apart from the above ornaments there are different types of the

ornaments like city gold, plated gold, pearl, and wooden and clay, crystal, bone, jewelry etc

which has very excellent recognition for casual use. Besides this there are gold, silver and copper

plated jewelry that is called fashion jewelry in our country. The type of this type of jewelry is

very chef that started from 100 to 4000tk.

Financial Analysis

Before starting business

Mr. Rajib Bhowmick starts a jewelry business that he always has to open a lucrative show

room for the display and sales of ornaments. Regarding good faith and long term good will they

are to purchase the place for show-room and the factory permanently owned basis.

Start up cost of a medium scale jewelry business firm:

For sales: - TK.

Show room for sales and display 16, 80,000

(Minimum 140 sft. @TK.120000)

Decoration 5, 00,000

Gold ornaments for display and sales [email protected],398 2, 08,77,600

License and other other processing 35,000

Others 15,000

Total investment for show-room or sales center 2, 31,07,600

For factory:

Factory place (min-300 sq feet @Tk.2000) 6, 00,000Machineries and other equipments 3, 50,000

Gold stock for making ornaments 100 total@Tk17,398 17, 39,800

(or equivalent 1166 gram)

Total investment for factory TK26, 89,800

Total require capital for investment in a medium


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Scale of gold jewelry sales show-room and factory TK2, 57, 97,400

Calculation of production cost 100 tola total gold ornaments:

Production cost: TK.

22. Ct.gold 100 tola or equivalent 1166 gram@TK 15, 58,800

Wages (making, polishing, color and cutting, etc) 1, 40,000

Repair maintenance 2000

Depreciation 3000

Cost of production TK.17, 03,800

Selling and administrative expenses:

TK

Rent 800

Salaries 22,500

Electricity 3,500

Stationary 2,200

Miscellaneous 4,500

Entertainment 2,500

Total sales and administrative expenses TK. 36,000

Total cost of production TK.17,39,800

Cost of production per tola=TK.17, 39,800/ 100 tola

= TK. 17398

Calculation of profit:

Sales:-100 tola [email protected],275(equivalent 1166 gram) 18,27,500

(The price TK.18,275 is included with making charge from


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the customer of TK. 1200 per tola)

Less-production cost 17,03,800

Gross profit 1,23,700

Less-selling and administrative expenses Tk.36,000

Net profit TK 87,700

Net profit ratio:

87,700 100

18, 27,500

=4.798 or 4.7%

Break even Analysis:

Calculation of fixed costs:

Salary 22,500

Rent 800

Electricity 3,500

Depreciation 3,000

Total fixed cost TK.29,800

(Note: depreciation is counted as fixed cost)

Calculation of variable costs:

22 ct.gold 100 tola@TK. 15,588

(or equivalent 1166 gram) 15,58,800

Wages 1, 40,000

Stationary 22, 00

Miscellaneous 2,000


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Entertainment 2.500

Total variable cost TK.17,10,000

Sales .18, 27,500

-variable cost17, 10,000

Contribution margin 1, 17,500

PV ratio= contribution 100Sales

=TK.1, 17,500TK.18.27, 500 100

=6.429% or 6.43 approximately

Break even sales:

FCPV ratio

= TK.29, 8006.43%

=TK.4, 63,452

Break even sales of gold ornaments in total: Tk.4, 63,45218,275(per tola)

=25.36 tola or equivalent 295.60 gram


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Present condition of jewelry Business

The present condition of jewelry tread is very fragile. That due to the increase of gold price in

international market has influenced the market of Bangladesh. Consequently the tread of gold is

becoming a losing concern. The buyer of gold is losing their interest to buy jewelry according to

demand farther reason of high price. Todays market the buyer of gold is losing their eagerness.

The buyer who could effort to buy fifty gram of gold jewelry now a days he or she hesitate to

buy twenty grams of gold. Besides due to inability of common people as well as the less essential

purpose of use in gold ornaments the charm of jewelry tread is no more.

10,882

18,375

25,600

30,00033,000

40,000

48,000

0

10,000

20,000

30,000

40,000

50,000

60,000

2005 2006 2007 2008 2009 2010 2011

Year

Figure: The increasing position the price of gold

Here the graph shows that the increasing of gold price for last few years up to 2011.The price has

increased step by step from the year 2005 to 2011.But uncertainly the price has increased in a

high range. As a result the sale of gold ornaments has decreased in the market.

The fall of jewelry:

Lets turn from old scrap where jewelry is a source of supply to jewelry fabrication, which

until recent years has been a steady and reliable source of gold demand.


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Gold jewelry fabrication demand reached an all-time in 1997 at 3,342 tons and, since then, has

been trending downward. This year, I expect worldwide jewelry fabrication demand will total

little more than 2,100 tons.

Much of the decline in jewelry off take has occurred since 2001 and reflects the substantial rise

in gold prices both in U.S. dollar terms and in local currencies for many important geographic

jewelry markets.

With the continuing credit crisis and global recession, demand has also been hit hard by the

collapse in retail sales, especially in the United States and Europe. In addition, and of importance

to the near-term outlook, the steep decline in fabrication has been exaggerated by the running

down of inventories on hand at manufacturers, distributors, and retailers.

In general, I expect a modest recovery in worldwide jewelry demand, reflecting an improving

economic environment in some of the developing markets especially India and China and

supported also by some rebuilding of inventories . . . but this recovery will muted by the

expected rise in the metals price over the next few years.

Present position of goldsmith:

Now a days the position of goldsmith is not satisfactory in respect of their earning .The demand

of foreign made gold by latest modern technical machine has raised more than the local made

jewelry and obviously decreasing the demand of local goldsmith. The manufacturing of jewelry

is turned into less quantity due to rise of present gold price as a result in one side gold smith is

losing their job and in consideration of earning there going abroad. In our country wages of gold

smith is not sufficient in order to maintain their lively hood .The demand of Bangladeshi Gold

smith in abroad has become a competitive one

Why International Price of Gold Greatly Increased

Gold is usually tool for investors to hedge as a hedge, under normal circumstances, when the

financial crisis, international gold prices will rise sharply; crisis, when the economy resumes


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growth, the international gold price increases will slow down. However, the global financial

crisis has changed to some extent, the history of the international gold price changes, track,

September 2008, when the global financial crisis and the world economy into a severe recession,

the international gold price downward trend, the end of 2008 , the lowest international price of

gold fell to 600 dollars / ounce; second half of 2009, when most countries have been out of

recession, growth in world economic recovery, the international gold prices have seen a dramatic

rise in a row within a year surpassed 1,000 U.S. dollars / ounce , 1100 U.S. dollars / ounce, $

1,200 / oz and $ 1,300 / oz mark the four integers, and create the history of the international gold

price record.

After the crisis, the process of economic recovery in the world, why international gold prices will

rise sharply it? From the current situation, mainly in the following four reasons: First, thepressure on the dollar; the second is the threat of inflation; third is the uncertainty of the recovery

process; Fourth, the international gold market supply and demand changes.

However, some economists believe that the international gold market is a bubble market,

increase the risk of investing in gold. Soros also noted that recently, investing in gold is not

absolutely safe, the price of gold rally will not last forever, because gold is a hedge against

inflation, after all goods, not the best investment products and other commodities like gold are as

rigid requirements.

Gold price in Bangladesh:

Price Update

DateGold Price Silver Price

28.6.2011Gold Price in Bangladesh Per Bhori

22 Carat Gold - 48,000 Taka21 Carat Gold - 46,000 Taka

.. BDT


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Future Plans of Rajib Bhowmick Jewelry Shop

1. He has already 2 shops in Sylhet, so, he has a plan to expand his business by opening onemore jewelry shop in Sylhet on upcoming years with a huge collections.

2. Basis on the increasing price of gold he has decided to add other types of ornamentsincluding gold jewelry.

3. Mainly he is a traditional thinker business man and he always tried to portray thosethought on his jewelry design. But knowing the changes of peoples taste, demand toward

modified new design, he decided to appoint some new designer for that purpose.

Personal view of Rajib Bhoumikh

Jewelry industry is the traditional art in this country for thousand years. There are so many

commercial establishments have grown based on this industry. This tread is started from

ancient time. The tread of golden jewelry exists through traditionally dynasty. The change of

time could not alter this industry yet style of business has been altered following change

yoke.

The designs of jewelries have been alerted following the demand of customers today. This

industry has involved all most 25 lacks or more than that people of our country directly andindirectly. So many people have earned their livelihood through this industry. This industry

is failed to grow a bright future up to satisfaction. The bright future of this industry is

interfered due to increased price of gold in international market, low of wages of goldsmith,

tendency of goldsmith to go abroad, to control over dishonest dealer, import of gold through

illegal way which leads deceive income tax and revenue of government, to find out the ways

of improving design and quality of gold for necessary completion with the neighboring

countries. This industry cannot yield to proper position due to want of various rules and

regulations conducted by the government.

Through Bangladesh is a depending country on import, arts and crafts of Bangladesh has

sufficient demand over the world. In that way the gold and silver jewelry can create a

probable exporting industry for all the time to come. Ti is feasible to grow more export and

create a prospective industry by the joint venture of government and dealer too.


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Recommendation for implementation

Through the observation and study the whole condition of jewelry industry, jewelry traders,and the rules of government it could be suggest that the co-operation of the jewelry dealers

and the government can take to yield proper initiative in the domestic market as well as it is

feasible to earn more foreign currency by exporting and shall create a prospective industry by

considering following implication:

1. First of all government should tends to import pure gold directly and arrange to distributeamongst the jewelry dealers through the schedule bank with certain steps creating

security arrangement fulfill and also communicate commercial relation with other

countries to make possible to exports.

2. To yield a good hope to employee our local goldsmith avoiding the tendency of goingoutside the country paying sufficient wages for their lively hood.

3. The government should from a monitoring cell to control over the quality of gold,dishonest dealer for selling low quality of gold ornaments carelessly as well as illegal

import of gold ornaments.

4. It should be an institute in the country by the government or jewelry association to createmodern and training center for new technology of making ornaments that it can the

market of foreign country.

5. Government should arrange a gymnastic institute teaching over precious metal.6. Jewelry traders also have to establish developed machineries, modern equipments to

improve the technology that can competitive in domestic market and also in the

international market.

7. The association of Bangladesh jewelers they should be more active towards theirprospective industry.


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8. The government should ease the commercial rules and regulation for possiblecommunication to other countries towards the exports.

9. It is possible to earn more foreign currency from this industry if government ease therestriction and reduce import tax on gold and about precious stone like Diamond, Garcon

as well as metal like platinum, white gold that the jewelry dealers can import directly and

able to export after making the ornaments. On that regards it can be use of Export

promotion Jones.

10.Above all there should be display center in Dubai and the other intentional for getting theprospective market of jewelry ornaments.


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CASE 2

Firuz Miah and Sons


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Profile Of the organization:

Name: Firuz Miah & Sons Name of the founder: Late Md. Firuz Miah Year of the Establishment: 1925 Name of the Director: Abdul Malik Location: Kastoghor Road, Mohagon Potty, Sylhet Trade no: 9925/4844 Product: Steel materials Starting Capital: 15,000 Total Employer: 20-25 Monthly Sell: 9,00,000 tk. Tel-phone: 0821-711753, 01711490123 & 01711399588(mob) Open From : 8:30 am to 10:00 pm


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Abdul Malik:

In most cases, this is the common scenario of people who are not that much advanced in their

education are engaged in business. In 1925 Mr.Firuz Miah started his business with only 1500tk

in kastoghor Road, Sylhet. Within a little time he has become the dominant in steel

manufacturing business. After his death in 1986 his elder son Abdul Malik takes over this

business.

Early life:

Mr Abdul Malik was born on 1962. His father name is Firuz Miah and mothers is Hazi Agom

BiBi. His father was also a businessperson and their economic condition was quite affluent.

Family Background

Their family was a joint one. He has five brothers and three sisters. He is second among the

children. His father was involved in manufacturing business. He imported commodities from

Dhaka and sold them in the local markets in Bangladesh. From his family he got enough support

to exercise his liking.

Educational Background:

Now a days every Entrepreneur has a strong educational background but in this case Mr. Abdul

Malik couldnt complete his education because of family responsibility comes into his head after

his fathers death.

Professional Life:

In 1986 Mr. Abdul Malik takes over his Father business. On that time there was only one shop

with single product manufacturer factory. But now he has included various types of process and

equipment and expanded his factory product line as well as in 2001he bought another shop witha store house. Recently he bought another shop in Tilagor, Sylhet.


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Products & Services

Product:

Steel Materials Ice-Cream chemical One time products Cock sheet Plastic Dram Measurement set Spray Can Miter Scale Poultry tools

Most of the time they collect their row material from Bongsal, Noyabajar in Dhaka andalso from Jobili Road in Chittagong.

Services:

They provide 5-10 year warranty on steel products. They provide 2% discount to their loyal customer. They provide cheap delivery services.


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Profit & Monthly Income:

Per day sale of Firuz Miah & sons is about 30000 tk & their per day cost 25000 tk. So their

monthly profit is 16%.

0

5000

10000

15000

20000

25000

30000

Per day sale

Per day

Product cost

Net profit

Fi

gure: Per day income of Firuz Miah & sons

Problem in case of doing Business:

For the price increase of the row material they face problem in product sale. For the new entrance the competition is rising. In case of provide quality product at low cost to customer they face great contest

with competitor.

Ambition and Motivation:

His ambition is to be an established and big business person firstly in Mohagon Potty and then in

Sylhet. This ambition drives him to involve in diversified types of business. Besides, to survivethrough honest means, to attain independence in operation, to be well-established in future he

chose the way of business rather than any others means. Moreover, he was also inspired by his

family members and relatives who were also involved in business.


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Future Plan:

He has a plan to expand their product line. Again he wishes to buy some shop in all over the

Sylhet city so that they can able to spread out their distribution network. He believes this would

minimize the evil impact of middleman and maximize the profit for both the Customer and

businessman like him. He has a wish to adopt automation to formulate his Organization

effective. He also wants to provide facility of sale after service to its loyal customer. From that

stage to now, he is here because of strong determination to have success. Besides, he believes

that good presentation makes everything good to everyone.

Recommendation

They should adopt automation to get efficiency. They should provide some extra facility to their workers beside their payment to

motivate them.

They should maintain financial statement. They should export their products because they have great potential.

Conclusion:

An Entrepreneur is a person who fined the light in the darkness. They create new demands in the

society. An Entrepreneur can able to screen new opportunities from various existing

opportunities. In this report we have got two blend of different entrepreneurs process and how

they exists or survive in this competitive market. We also got the answers of all entrepreneurial

myths and how they are fighting to exist long time through changing their approaches after

working on this paper.


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References:

Collect information through the interview of the two Entrepreneurs. Collect data through the use of internet. Gather information from their financial report.

live biography of two entrepreneur of sylhet city

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