“Our focuses on promoting a work-life balance along with productivity of the employees have been a key component of our success.”
ABDUL MUSABBIR AHMAD is the Managing Director of Nitol-Niloy Group of Industries and the son Abdul Matlub Ahmad. Mussabir is dynamic industrialist who studied Business Administration in Fort Wayne University of USA. He is also keen in finding new business opportunities in Bangladesh.
Musabbir is also an Executive Member of India Bangladesh Chamber of Commerce and Industry (IBCCI), Dhaka Chamber of Commerce and Industry (DCCI), Bangladesh Automobiles Assembles & Manufacturer Association (BAAMA), and Association of Listed Companies (ALC). Besides these, he is the MD of NITA, a Nitol and TATA joint venture.
What are the key components of the success of your business?
I firmly believe that the key elements of success in any business are hard work and maintaining a healthy work-life balance. No matter how efficient a management system or process, success will be unattainable unless the employees and management are willing to work hard for their goals.
At the same time, work is a vital part of life, but it should not be a person’s entire life. Having a healthy work-life balance enriches a person’s emotional, social and family structure. Having a successful career should not come at an expense of alienating one from his or her family. Our focuses on promoting a work-life balance along with productivity of the employees have been a key component of our success.
What new ideas have you introduced for your business so far? How do you generate new ideas?
Ideas that I had contributed focused on IT and after-sales support. This was back in 2004 when the concentration on IT was still in its infantile stage, especially in the transport industry. By developing in-house software and hardware tools for vehicle management and tracking, we were able to boost our efficiency significantly.
Moreover, focusing and investing in our infrastructure for after-sales services have allowed us to take advantage of the industry’s growth by increasing customer profitability and satisfaction by reducing downtime. It is motivational to see the practices I had pioneered in Bangladesh become the national industry standards today.
Currently, we have a think tank which studies worldwide trends and comes up with ideas that may have relevant applications in our businesses.
How do you define success? What is the best way to achieve long-term success?
I believe success in business is measured by sustainability and the management’s ability to create a corporate culture that promotes sustainability, infusing it into the company’s DNA.
You can do profitable business for a limited time producing a significant amount of revenue. However, I don’t think money is the measurement of success in business. Real success can be built by working to establish a brand, making the company sustainable going forward and enriching the lives of the employees, customers and channel partners.
What are your thoughts on the business climate in Bangladesh?
I feel the current business environment is positive and nurtures growth. The potential we have, as a country, is phenomenal and with necessary improvements, our performance will be optimized. Some policies for manufacturing in many sectors in Bangladesh are unnecessarily convoluted. There have been cases where deals I was working on collapsed because the foreign partner became frustrated with trying to decipher our policy workings and gave up on the project.
Having clear and straightforward policies that focus on the long-term sustainability of manufacturing in Bangladesh, coupled with one-stop services for the permits for foreign investment projects will be very beneficial for the country.
What is your vision regarding the expansion of your business?
With the lifelong efforts of our chairman, we have emerged as one of the premier corporate houses in Bangladesh. My vision is to take that legacy and make it international. I want our international success to mirror the same degree of success that we have earned nationally.
What was the best advice you ever got?
The best advice that I received about both my professional and personal life would have to be from my father. He advised me to enjoy life, find happiness in the task at hand and do whatever makes me happy. Achieving success and not contentment deters you from your quality of life. Happiness starts within ourselves and transcends to those around us.
WHICH BUSINESS ICON(S) DO YOU FOLLOW?
Abdul Matlub Ahmad, Founder, Nitol-Niloy Group, JRD Tata, Founder, Tata group. Brijmohan Lall Munjal, Founder, Hero Group India. Bill Gates, Founder, Microsoft.
WHAT ARE YOUR FAVOURITE BOOKS?
Les Misérables by Victor Hugo A Midsummer Night’s Dream by William Shakespeare Durbin by Shirshendu Mukhopadhay
Playing MOBA games.
WHEN WAS YOUR COMPANY ESTABLISHED?
The first company in our group, which is Nitol Motors Ltd. was established in the mid 1980’s.
NUMBER OF EMPLOYEES IN COMPANY?
The number of full-time and part time employees in the group is about 4,000.
WHICH SECTORS ARE BEING COVERED THROUGH THE BUSINESS?
Transportation, Electronics, IT products, Replenish-able Power Generation, Management solutions, Digital Media, Retail & distribution services, Warehousing & Logistics.