i

Ten Famous Bangladeshi Entrepreneurs

Report

For

Md. Shibli Shahriar

Produced by

1. Istiaque Ahmed khan -113-17-280 (MIS)

2. Md.Mesbaul Haque -122-14-749 (MBA)

3. Md. Saroware kaium -122-14-751 (MBA)

4. Abdul Kuddus -113-17-281 (MIS)

Report Date Friday 3rd August 2012

Group Name: Black shadow

ii

Date: 3, August, 2012

Md. Shibli Shahriar

Designation: Assistant Professor

Address: Faculty of Business and Economic

Dear sir

Here is the report on the observational study of ten Famous Entrepreneur person that you

asked us to conduct on July 28.

Our study of 8 famous Entrepreneur people in our country, their different quality and

qualification that make them successful in their business area. The resulting recommendations

for will help you to identify easily the different quality and qualification is required to be a

success businessmen.

We appreciate your offering r this assignment to us. If you should need any additional research

or assistances in implementing our recommendations. Please contact us at

shuvo_ami@yahoo.com or 113-17-281.

Sincerely yours,

Group name: Black shadow

iii

Executive summary/abstract

The purpose of this report was to explain different quality and qualification that an entrepreneurs

should have and how those qualification and quality makes them famous in Bangladesh.

Research for this report included a review of current famous entrepreneurs via using internet and

interviews with three famous entrepreneurs’ in Bangladesh.

The major findings indicate that while there is a need for some quality and qualification for being

successful entrepreneurs in any country, such as Determination, Hard work, inspiration,

intelligence, Responsibility for society etc.

While it is clear that quality and qualification will vary in different entrepreneurs, this report

recommends that to be successful entrepreneurs each and everyone should have following type

of quality and qualification.

1. Determination

2. Hard work

3. Observe existing obstacles

4. Proper utilization of opportunity

5. Proper utilization of limited resource

6. Self motivated etc.

1

Table of Contents Introduction .................................................................................................................................................. 2

Objective of the Study: ................................................................................................................................. 3

Methodology of the Study: ........................................................................................................................... 3

Limitations of the Study: ............................................................................................................................... 4

Information about the entrepreneurs .......................................................................................................... 5

Mr. Samson H Chowdhury (SQUARE) ................................................................................................... 5

S.M. KAMALUDDIN (Concord Group) ....................................................................................................... 6

Latifur Rahman (Transcom) ...................................................................................................................... 7

Mr. Shafiul Islam Kamal (Navana Group) ................................................................................................. 7

Sir Fazle Hasan Abed (BRAC) ..................................................................................................................... 8

Muhammad Yunus .................................................................................................................................. 10

A. K. KHAN (Eastern mercantile Bank) .................................................................................................... 12

Findings ....................................................................................................................................................... 14

Mr. Samson H Chowdhury ...................................................................................................................... 14

S.M. KAMALUDDIN ................................................................................................................................. 14

Latifur Rahman ........................................................................................................................................ 15

Mr. Shafiul Islam Kamal .......................................................................................................................... 15

Sir Fazle Hasan Abed ............................................................................................................................... 15

Muhammad Yunus .................................................................................................................................. 16

A.K. KHAN ................................................................................................................................................ 16

Recommendation:....................................................................................................................................... 17

Conclusion: .................................................................................................................................................. 18

Conclusion: .................................................................................................................................................. 18

Reference: ................................................................................................................................................... 19

2

Introduction

It is not easy to give a particular answer to the question: Why do people want to start and

run independent businesses? Different answers may come from different people. Some

people may start a business just because they love independence and hate to tolerate

bossing in the jobs. Some may not have the capability and qualification to do a job and as

job is not available to them, they go for independent businesses in order to survive. Some

may have some special skills and love challenges to run an independent business. Several

motivational factors like need for affiliation, need for power and need for achievement

(McClelland, 1961) are also responsible for going for an independent business. Murthy,

et al (1986) found that entrepreneurs are motivated to start a business because of the

factors like ambitious factors, compelling factors and facilitating factors. Whatever may

be the reason, it can be said that in most of the times of the history of human civilization,

there were entrepreneurs who did independent businesses and this trend of history still

continues. For the last few decades in all over the world, entrepreneurs are regarded as

value adding people to the society.

3

Objective of the Study:

Broad Objective

The broad objective of this study is to gather broad idea about Bangladeshi entrepreneurs.

Specific objective

• To know some Bangladeshi entrepreneurs.

• To finding out how can they develop.

• To prescribing some suggestions.

Methodology of the Study: This study is an exploratory research. Here use secondary data were used for completing the study.

Secondary data

The primary data were collected from internet and journal.

Target entrepreneurs

The target entrepreneurs of the study are the owner or chairman of a large organization in Bangladesh.

Sample size

This survey was completed within seven persons in Bangladesh.

Methods of data collection

Internet method and magazine are used to collect this data.

4

Limitations of the Study:

It was difficult to communicate with the entrepreneurs for collect the information

Time limitations are a major obstacle to complete the study successfully in time. It is very

difficult to accumulate all the necessary data/information in such a short duration.

Due to some legal obligation and business secrecy organizations are reluctant to provide data.

For this reason, the study limits internet and magazine.

Proper information is not provided by magazine and electronic media. For this reason, it makes

various problems to collect relevant data for study affairs.

5

Information about the entrepreneurs

Mr. Samson H Chowdhury was born on 25 February, 1926. After

completing education in India he returned to the then East Pakistan

and settled at Ataikula village in Pabna district where his father was

working as a Medical Officer in an outdoor dispensary. In 1952, he

started a small pharmacy in Ataikula village which is about 160 km

off capital Dhaka in the north-west part of Bangladesh. Mr. Samson

H Chowdhury then ventured into a partnership pharmaceutical

company with three of his friends in 1958. When asked why the

name SQUARE was chosen he remembers - “We named it

SQUARE because it was started by four friends and also because it

signifies accuracy and perfection meaning quality” as they

committed in manufacturing quality products.

Now that small company of 1958 is a publicly listed diversified group of companies employing

more than 28,000 people. The current yearly group turnover is 616 million USD.

SQUARE today is a name not only known in the Pharmaceutical world, it is today a synonym of

quality- be it toiletries, health products, textiles, Agro Vet products, information technology and

few more. All these were possible due to his innovative ideas, tireless efforts, perseverance and

dedication with self confidence which contributed to his successful achievements. Now the name

“SQUARE” inspires trust. Under his dynamic leadership, SQUARE is set to continue its

progress globally.

Mr. Samson H Chowdhury (SQUARE)

6

S.M. KAMALUDDIN (Concord Group)

Concord Group, one of the largest construction conglomerates in Bangladesh signed an

agreement for a strategy consulting project on “Re-structuring based on Strategic Direction” with

MTI Consulting, a fast growing international strategy consultancy with operations in Sri Lanka,

Bangladesh, Bahrain, Dubai, Pakistan, India, Malaysia, UK and Associates / Business Partners in

20 countries across Europe, Asia and Africa

The Concord Group is changing. It is pursuing new business opportunities because the world is

not static. There have been many developments in the recent past that will affect us all both in

Bangladesh and globally. But they have retained our strengths in the business sectors that laid the

foundation of the group: Engineering & Construction, construction materials, and our qualified

and professional people.

They have grown with time and with Bangladesh, since Concord was established in 1972.

Concord's contribution to the infrastructural development of Bangladesh began with constructing

war-damaged bridges in 1973.Since then they have taken part in port rehabilitation, construction

of much needed factory buildings, the International Airport, defense installations, and high-rise

office buildings.

They have also diversified into various other fields which include ready-made garments, real

estate development, manufacture of construction materials, amusement and entertainment

(Theme Park) and recently, development of "economy housing".

Chairman’s commitment to business ethics has earned us enormous trust. He intends to build

on this by creating world class products and services for our customers. Their aim is to improve

the quality of life of those who have placed their trust in us and the communities they serve.

They do this through leadership in sectors of national economic significance to which the group

brings a unique set of capabilities.

7

Latifur Rahman (Transcom)

Latifur Rahman he is the man behind Transcom Group, who is praised for marketing

commodities enriched with modern technologies from multinationals/brands like Phillips, Nestle,

Sumitomo, Akijo, Sanyo, Whirlpool, PIZZA HUT & KFC, SK+F,Novo Nordisk, Servier,

Allergan, Frito Lay, Heinz, Wrigleys, Mars, Energizer, Schick, L’Oreal, Garnier and Changhai.

Whenever a consumer-customer comes to the market he becomes amazed with the quality and

dependability of commodities of these Companies. Latifur Rahman has decorated Transcom with

enviable quality products within expected price limits manufactured in different countries around

the world. The continuity of his grandfather who commenced industrial enterprise by

establishing a tea garden in 1885 in Assam of British India is hidden in the success of Mr.Latifur

Rahman. He took up the control of his father’s business in 1973.In that year Transcom developed

relationship with a Swiss trading company. Transcom signed a counter trade agreement with that

company for the first time from this country. Value of this contract was DM13M.As a result of

this contract transaction took place @USD50M a year. Latifur Rahman stepped into newspaper

industry by way of success in imports and exports. Associated company Transcraft Limited

appeared. As a result of his investments publications viz., the Daily Star, Protham Alo, Weekly

2000 praised by readers, found the chance of coming out in their own entities. He is also a

Chamber leader. Presently he is Vice President of International Chamber of Commerce –

Bangladesh and a former President of Metropolitan Chamber of Commerce & Industry, Dhaka

for several terms/many years. He was nominated by Government as Director, Executive Board,

Bangladesh Bank (Central Bank) (2002-2003); Chairman, Tradebody Reforms Committee,

Ministry of Commerce, Government of Bangladesh (2002);Member, Advisory Committee on

WTO, Ministry of Commerce, Government of Bangladesh; Member, Committee on Foreign

Trade Institute, Ministry of Commerce, Government of Bangladesh; Member, Consultative

Committee, Ministry of Jute, Government of Bangladesh;. Member, National Committee on

Export Promotion, Ministry of Commerce, Government of Bangladesh; Co-Chairperson,

Business Finance Working Group, Bangladesh Better Business Forum.

Mr. Shafiul Islam Kamal (Navana Group)

8

Navana Construction Ltd. (NCL), a fulll-fledged construction wing of Navana Group came into

physical existence in 1996 under the Chairmanship of Mr. Shafiul Islam Kamal, the Ex-Vice

Chairman and the very Key Person of Islam Group was responsible for procurement & the

execution of the construction jobs of Bengal Development Corporation (BDC), the construction

company of the Islam Group.

Mr. Shafiul Islam during his tenure with Islam Group personally supervised and gave guidance

to procure the construction work of BDC which included Road Ways, Embankments, High-Rise

and Low-Rise Buildings, Commercial Blocks, Industrial Civil Engineering Works, Service and

Utility Buildings for Airport, Railways, Universities, Power Plant Civil Works since past 35

years in & abroad Bangladesh.

Navana Construction Ltd. (NCL) consist of a team of highly experienced engineers, within a

short span of time since its inception has gained a solid experience working in various in house,

private, foreign & public construction works. Due to the solid experience and the trust that has

been achieved by NCL in the construction arena, the volume of work of NCL is fast expanding

in course of time.

Navana Group under the prominent leadership of Mr. Shafiul Islam Kamal as Chairman emerged

into a separate physical entity from Islam Group after the death of its Chairman Mr. Jahurul

Islam. Navana Group comprising of a number of companies, has diversified its activities in

various areas like product and project marketing, construction and real estate business,

international trading, distributorship and production of various items and already attained

significance in the business arena of Bangladesh.

Sir Fazle Hasan Abed (BRAC)

9

Fazle Hasan Abed was born in 1936 into the esteemed Hasan family, in Baniachong, Habiganj

District, Bangladesh. He passed the matriculation exam from Pabna Zilla School and went on to

complete his higher secondary education from Dhaka College.

He left home to attend University of Glasgow, where, and in an effort to break away from

tradition and do something radically different - he studied Naval Architecture. But there was

little work in ship building in Pakistan and a career in Naval Architecture would make returning

home difficult. With that in mind, Abed joined the Chartered Institute of Management

Accountants in London, completing his professional education in 1962.

When the war ended in December 1971, Abed sold his flat in London and returned to the newly

independent Bangladesh to find his country in ruins. In addition, the 10 million refugees who had

sought shelter in India during the war had started to return home. Their relief and rehabilitation

called for urgent efforts. Abed decided to use the funds he had generated from selling his flat to

initiate his own. He selected the remote region of Sulla in northeastern Bangladesh to start his

work. This work led him and the organisation he founded, BRAC, to deal with the long-term task

of improving the living conditions of the rural poor.

In a span of only three decades, BRAC grew to become the largest development organisation in

the world in terms of the scale and diversity of its interventions. As BRAC grew, Abed ensured

that it continued to target the landless poor, particularly women, a large percentage of whom live

below the poverty line with little or no access to resources or conventional development efforts.

BRAC now operates in more than 69 thousand villages of Bangladesh and covers an estimated

110 million people through its development interventions that range from primary education,

essential healthcare, agricultural support and human rights and legal services to microfinance and

enterprise development. It is now considered the largest non-profit in the world - both by

employees and people served.In 2002, BRAC went international by taking its range of

development interventions to Afghanistan. Since then, BRAC has expanded to a total of eight

countries across Asia and Africa, successfully adapting its unique integrated development model

across varying geographic and socioeconomic contexts.

10

Muhammad Yunus

Yunus was born on 28 June 1940 to a Muslim family in the village of Bathua, by the Boxirhat

Road in Hathazari, Chittagong, in Bangladesh. His father was Hazi Dula Mia Shoudagar, a

jeweler, and his mother was Sufia Khatun. His early childhood years were spent in the village. In

1944, his family moved to the city of Chittagong, and he was shifted to Lamabazar Primary

School from his village school. During his school years, he was an active Boy Scout, and

traveled to West Pakistan and India in 1952, and to Canada in 1955 to attend Jamborees.Later

when Yunus was studying at Chittagong College, he became active in cultural activities and won

awards for drama acting. In 1957, he enrolled in the department of economics at Dhaka

University and completed his BA in 1960 and MA in 1961.

After the War, Yunus returned to Bangladesh and was appointed to the government's Planning

Commission headed by Nurul Islam. He found the job boring and resigned to join Chittagong

University as head of the Economics department. He became involved with poverty reduction

after observing the famine of 1974, and established a rural economic program as a research

project. In 1975, he developed a Nabajug (New Era) Tebhaga Khamar (three share farm) which

the government adopted as the Packaged Input Programme. In order to make the project more

effective, Yunus and his associates proposed the Gram Sarkar (the village government)

programme. Introduced by then president Ziaur Rahman in late 1970s, the Government formed

40,392 village governments (gram sarkar) as a fourth layer of government in 2003. On 2 August

2005, in response to a petition filed by Bangladesh Legal Aids and Services Trust (BLAST) the

High Court had declared Gram Sarkar illegal and unconstitutional.

In 1976, during visits to the poorest households in the village of Jobra near Chittagong

University, Yunus discovered that very small loans could make a disproportionate difference to a

poor person. Jobra women who made bamboo furniture had to take out usurious loans for buying

bamboo, to pay their profits to the moneylenders. His first loan, consisting of US$27.00 from his

own pocket, was made to 42 women in the village, who made a net profit of BDT 0.50

(US$0.02) each on the loan. Accumulated through many loans, this vastly improving

11

Bangladesh's ability to export and import as it did in the past, resulting in a greater form of

globalization and economic status.

Yunus finally succeeded in securing a loan from the government Janata Bank to lend it to the

poor in Jobra in December 1976. The institution continued to operate by securing loans from

other banks for its projects. By 1982, the bank had 28,000 members. On 1 October 1983 the pilot

project began operations as a full-fledged bank and was renamed the Grameen Bank (Village

Bank) to make loans to poor Bangladeshis. Yunus and his colleagues encountered everything

from violent radical leftists to the conservative clergy who told women that they would be denied

a Muslim burial if they borrowed money from the Grameen Bank. As of July 2007, Grameen

Bank has issued US$ 6.38 billion to 7.4 million borrowers. To ensure repayment, the bank uses a

system of "solidarity groups". These small informal groups apply together for loans and its

members act as co-guarantors of repayment and support one another's efforts at economic self-

advancement.

The Grameen Bank started to diversify in the late 1980s when it started attending to unutilized or

underutilized fishing ponds, as well as irrigation pumps like deep tubewells. In 1989, these

diversified interests started growing into separate organizations, as the fisheries project became

Grameen Motsho (Grameen Fisheries Foundation) and the irrigation project became Grameen

Krishi (Grameen Agriculture Foundation). Over time, the Grameen initiative has grown into a

multi-faceted group of profitable and non-profit ventures, including major projects like Grameen

Trust and Grameen Fund, which runs equity projects like Grameen Software Limited, Grameen

CyberNet Limited, and Grameen Knitwear Limited, as well as Grameen Telecom, which has a

stake in Grameenphone (GP), biggest private sector phone company in Bangladesh. The Village

Phone (Polli Phone) project of GP has brought cell-phone ownership to 260,000 rural poor in

over 50,000 villages since the beginning of the project in March 1997.

12

A. K. KHAN (Eastern mercantile Bank)

Janab Khan was born on 5 th April, 1905 in Chittagong . He obtained Bachelor of Law

Degree from Presidency College, Kolkata University Standing first class second in order of

merit. He practicsed as a junior with Shere -e-Bangla A.K.M. Fazlul Huq and was a close

associate of Khawaja Nazimuddin. He entered the Bengal Judicial Service in 1935, when he

entered business during Second World War. After independence, he establishes many

industries in citation and pioneered Insurance, banking and Shipping. He was Chairman of

Pakistan International Airlines.

Abul Kasem khan had many features in his Cap-a brilliant academic career, participation in

the independence movement against the British Raj and against Pakistan Government

membership of the constitution of Pakistan and holding of the post of central minister of the

industry, works, irrigation and power under the Pakistan government in 58.

In spite of being busy of opposition politics, he enlarged and diversified his business

concerns and established the A.K.Khan group of industries, which comprises jute, textiles

and leather complexes.

He founded the Eastern mercantile Bank, which was the first institution of its kind to be

based in Bangladesh. His list of Commercial and Business achievements is too long to be

discussed in detail.

An entrepreneur's mentally is totally different from that of a wheeler-dealer. The latter need

cunning, ruthlessness and determination. The entrepreneur needs, in addition to all these

qualities, intelligence, foresight, commitment and patience.

By producing goods he creates value and adds something to the Gross Domestic. He

provided much needed employment and directly or indirectly he participates in improving the

infrastructure.

A. K. Khan is remarkable because he was a real entrepreneur in land dominated by traders

and smugglers. He is a shinning example to all those who do not want to enrich

13

themselves at the country's expense and who believe that money should be earned by

giving value for value.

14

Findings

Mr. Samson H Chowdhury

Dreamer: In 1952, he started a small pharmacy in Ataikula village. Few years aftrr he and his

three friends ventured into a partnership pharmaceutical company.When asked why the name

SQUARE was chosen he remembers - “We named it SQUARE because it was started by four

friends and also because it signifies accuracy and perfection meaning quality” as they committed

in manufacturing quality products.

Perseverance: Today is a name not only known in the Pharmaceutical world, it is today a

synonym of quality- be it toiletries, health products, textiles, Agro Vet products, information

technology and few more. All these were possible due to his innovative ideas, tireless efforts,

perseverance and dedication with self confidence which contributed to his successful

achievements

S.M. KAMALUDDIN

Visionary: He intends to build on this by creating world class products and services for our

customers. Their aim is to improve the quality of life of those who have placed their trust in us

and the communities they serve. They do this through leadership in sectors of national economic

significance to which the group brings a unique set of capabilities.

Strong Sense of purpose: He shows his sense of purpose by developing a heritage park (Fantasy

Kingdom, Fayez Lake) and also develops in different real state business.

15

Latifur Rahman

Unique marketing strategy: He is praised for marketing commodities enriched with modern

technologies from multinationals/brands like Phillips, Nestle, Sumitomo, Akijo, Sanyo,

Whirlpool, PIZZA HUT & KFC, SK+F,Novo Nordisk, Servier, Allergan, Frito Lay, Heinz,

Wrigleys, Mars, Energizer, Schick, L’Oreal, Garnier and Changhai. Whenever a consumer-

customer comes to the market he becomes amazed with the quality and dependability of

commodities of these Companies.

Self motivated person: He is a self motivated person because of the following reason

Franchising and full fill customer requirement as they demand

Provide quality product to their customer.

Mr. Shafiul Islam Kamal

Risk taking ability: As we know he has different segment of business in our country such as

realstate, navana batary, aftab automobikes, navana furniture, toyota etc. Without having risk

taking ability it is quite difficult to spreed his business in different segment.

Balance his act: As he has a different segment of his business he has to balance his

concentration each and every segment. That’s why his entire business segment is so successful

Sir Fazle Hasan Abed

Passionate: Fazle Hasan Abed established BRAC to rehabilitate returning refugees in a remote

area in north-eastern Bangladesh. He directed his policy towards helping the poor develop their

capacity to better manage their lives. Thus, BRAC's primary objectives emerged as alleviation of

16

poverty and empowerment of the poor. Under his leadership, in the span of only three decades,

BRAC grew to become the largest development organization in the world in terms of the scale

and diversity of its interventions.

Dreamer: Under his leadership the span of only three decades, BRAC grew to become the

largest development organization in the world in terms of the scale and diversity of its

interventions.

Muhammad Yunus

Creativity: he shoes his creativity when he involve poverty reduction after observing the famine

of 1974, and established a rural economic program as a research project. In 1975, he developed a

Nabajug (New Era) Tebhaga Khamar (three share farm) which the government adopted as the

Packaged Input Programmed.

Visionary: His vision is to remove poverty from society, that’s why In October 1983, the

Grameen Bank Project was transformed into an independent bank by government legislation.

Grameen bank is a microfinance organization and community development bank started in

Bangladesh that makes small loans (known as microcredit ) to the impoverished without

requiring collateral. The name Grameen is derived from the word gram which means "rural" or

"village" in the Bengali language.

A.K. KHAN

Ability to take risk: K. Khan is remarkable because he was a real entrepreneur in land

dominated by traders and smugglers. He is a shining example to all those who do not want to

enrich themselves at the country's expense and who believe that money should be earned by

giving value for value. He founded the Eastern mercantile Bank, which was the first institution

of its kind to be based in Bangladesh

17

Recommendation:

One of the interesting characteristics of Bangladeshi entrepreneurs is that most of the successful

entrepreneurs are pious and they have a keen respect for religion. They are God-fearing people.

May be, because of their religious nature it was also found that these people are truthful, reliable,

simple living, honest and sincere. It can be said that the behaviors of the entrepreneurs are guided

by the social and cultural environment of a particular country.

In case of Bangladeshi successful entrepreneurs, it was found that most of them had poor

educational backgrounds and found that most of them left home at a very early age. A reason

behind this difference may be the socio-economic environment of Bangladesh. It was also found

that though these successful entrepreneurs in Bangladesh did not have good educational

background, they had the need for high achievement. It may be inferred from these facts that as

they had this need and did not have enough qualifications to go for a highly paid job, they moved

towards self-employment and got success.

18

Conclusion:

From the discussion it can be identified that the research results on several issues related to

Bangladeshi different entrepreneurs has different quality and qualification in many cases. The

different socio-economic, cultural and political environments of the country may be responsible

for that. Most of the researches (doing research on Bangladeshi entrepreneurs) in these days are

mainly concentrated on the issue of famous entrepreneurs. For obvious reasons, this issue got

immense importance to the researchers. As in past there were so many researches on the issues

like characteristics of Bangladeshi entrepreneurs and problems and prospects of entrepreneurship

in Bangladesh. More and more studies should be done on this topic as this is a burning issue of

the country at this moment.

19

Reference:

www.wikipidea.com

http://en.wikipedia.org/wiki/Muhammad_Yunus

www.google.com

www.dse.bd.org

http://en.wikipedia.org/wiki/Sir_Fazle_Hasan_Abed

www.yahoo.com

www.bing.com

End of Report