Entrepreneurship

Assignment

Based on A Case Study of A Successful Entrepreneur-AHM Mustafa Kamal

FCA, MP, President & CEO

Prepared for-Mr. Shuvabrata Saha,

Lecturer,

Department of Accounting & Information systems,

Comilla University.

Prepared by-Members of group includes-

Saleha Chowdhury, Roll: 16,

Md. Rakibul Islam, Roll: 17,

Tahmina Manna, Roll: 33,

Dilara Begum, Roll: 41,

Session- 2006-2007, 1st Batch,

4th Year, 1st semester,

Department of Accounting & Information Syestems ,

Comilla University.

Submission date-May 2, 2011.

Comilla UniversitySalmanpur, Kotbari

ComillaApril 30,Mr. Shuvabrata Saha,Lecturer,Department of Accounting & Information Systems,Comilla University.

Subject: Submission of Assignment of a Case Study on “A Successful Entrepreneur”.

Dear Sir,With due respect, we are submitting this assignment on the topic of a Case Study on “A Successful Entrepreneur” under the requirement of the course “Business Environment And Entrepreneurship Development’’, as you have asked us to prepare it on last March 30.

We all are thankful to you for your concrete knowledge about the subject matter that helped us to lead the assignment to its successful competition. We have prepared this according to class lecture and through a group practical work. And we hope that this assignment will help us in accomplishing future entrepreneurial matters. If you face any disorder or mistakes in interpreting this term paper than please inform us. So that we can correct our mistakes as early as possible.

Sincerely Yours,

Tahmina MannanOn behalf of the group,Department of Accounting & Information Systems,Comilla University.

The preparation of an assignment and its accomplishment successfully is quiet impossible except someone who can sincerely and constructively assists us to make an assignment in a benefiting manner. And thus we would like to specially extend thanks to our honorable course teacher, “Mr. Shuvabrata Saha”, for his guidelines, valuable insights and suggestions regarding the preparation of the assignment to its completion. It is a great pleasure in submitting the assignment. Which is the outcome of our preparing program of a Case Study on “A Successful Entrepreneur” under the course “Business Environment And Entrepreneurship Development’’

We are truly gratified and grateful to our honorable Sir, who for the first time made a chance for us to go outside for practical work and made a confidence on us to do such courageous tasks successfully. We hope in future we will get his assistance to make such kind of study and we also hope we will get his solitude indications and valuable advice in future as always.

At last we shall be grateful to those person who read this assignment and who shall get benefit from this at present and in future.

Tahmina Mannan, On behalf of The Group, Department of Accounting & Information Systems,Comilla University.

We are given a case study to prepare an assignment on a successful entrepreneur all over Bangladesh. And in this manner we selected one of the most successful and renowned entrepreneur, businessman and politician of Bangladesh- AHM Mustafa Kamal, FCA, MP, President & CEO.

The executive summary that results from this study are to add the following-

Personal Profile

Business profile

Personal Interview

Requirements compared to be a Successful Entrepreneur

Letter forwarded to Course Coordinator

Supporting these above topic the following findings and conclusions drawn from the study.

Firstly, we have discussed here Mr. kamal’s personal profile, which includes his basic information, personal information, early life ,education life, professional life, political life and his over all biography.

Secondly, we have discussed about his business profile that concludes his categories of business, services, related businesses and companies in short.Then we have presented the most important part of this case study that is the Personal Interview of Mr. Kamal. And we also try to highlight the requirement compared to be a successful entrepreneur that is the characteristics, qualities, theories and comment on him.

Finally we have submitted a letter of Mr. Kamal that is forwarded to Our honourable Course Coordinator.

Assignment Concludes: Page no:

Personal Profile 1

Business profile 6

Personal Interview 13

Requirements compared to be a Successful Entrepreneur 21

Letter Forwarded to the Course Coordinator 27

Recommendation 28

Conclusion 28

Bibliography 29

:

Successful entrepreneur in Bangladesh

Basic Information:Name: AHM Mustafa KamalBirthday: June 15, 1949

Gender: MaleFather: Haji Md. Babru MianBrothers & Sisters: Two Brothers & One Sister.Village: Dutiapur. District: Comila.Wife : Kashmiri KamalDaughters: Kashfi and Nafisa Kamal.

AHM Mustafa Kamal, FCA, MPPresident & CEO

Affiliation: Bangladesh Cricket Board, President

Company Name: LOTUS -KAMAL GROUPAddress: 49 Gulshan South Avenue, Gulshan-2City: DhakaPhone: 603437, 9885361-63, 8821153 Web: www.lighthousebd.comwww.lighthousebd.com

Awards: CHAIRMAN, ABAHANI CRICKET COMMITTEE PRESIDENT, BANGLADESH CRICKET BOARD PRESIDENT, ASIAN CRICKET COUNCIL CHAIRMAN, INTERNATIONAL CRICKET COUNCIL AUDIT

COMMITTEE MEMBER OF PARLIAMENT, BANGLADESH CHAIRMAN, PARLIAMENTARY STANDING COMMITTEE

ON FINANCE MINISTRY

Personal Information:

Mr kamal married to Kashmiri Kamal. He has two daughters- Kashfi and Nafisa Kamal. Along with his two daughters he is further strengthened by a pair of young men. His grandsons Aveir and Zahraan. In between frequent family trips aboard and relaxed holidays at home, Kamal catches up on his very valuable family time that finds him playing with his grandsons, watching sports with his daughters on tv, eating out, debating on politics, reading and entertaining. Politics and Cricket take up most of his personal life and whatever remains is consumed in reading and writing. Kamal is not only an avid reader and writer but is constantly hungry for knowledge in world politics, religion, the english premier league, economic index and current affairs. Kamal is one Bangladesh's earliest FCAs and a very patriotic sports lover and this strikers a perfect balance between his personal and professional lives.

Early life :

A. H. M Mustafa Kamal (Lotus Kamal) was born at June 15, 1947 at Dutiapur, Bagmara Union, Laksham, Comilla. He was born in a middle class family. His father’s name is Hazi Babru Mian. He was a poor, simple, honest farmer in his village and never went to school for education. But he was very much encouraging Mr. Kamal for education. He mentions his father was the best father of the world. Mr. Kamal completed his education with the economic help of other people. In his college life he met his educational expense by lodging and tution at others home. Although he was not affluent he gave the half of his scholarship money to the poor students. He have two brothers and one sister. He is a very polite person.

Education Life :

Mr. Kamal was a very bright student in his education life. He passed S.S.C from Bagmara High School in 1962 and H.S.C from Comilla Victoria Govt. College in 1964. He completed his graduation from Chittagong Govt. Commerce College under Dhaka University and Master degree in 1968 from the same University. Mr. Kamal stood first in Chartered Accountancy examination in 1970. He is the first Bangladeshi who achieved this extra ordinary success.

Professional Life :

From 1971 to 1978 Mr. Kamal associated with chartered Accountancy profession as an accountant. After that he started to establish different industries in Bangladesh under the “Lotus Kamal Group”. At present a several number of business industries are conducted under LK Group. Mr Kama is the President of the Group of Industries. Under this group import export, textile, spinning, knitting, garments, leather, engineering, wood processing, HM development & export. Medical services etc. business industries are directed. In addition he is also attached with joint venture of foreign country relating to knitting and spinning mill. LK Group is the only joint producer of cricket bat with England & Pakistan. Besides this LK Group established an Industrial Park at Lalmai.

Political life :

By the time of his student life LK had very enthusiasm of politics. He was more active in politics beside his education. At Chittagong Govt. Commerce College he was the assistant president of Chatraleague. In different time Mr. Kamal was the auditor of student Kabinate in the college.

Mr. Kamal always supports the independence of human being as well as Bangladesh. That is why he believes that for the liberation every citizen of Bangladesh is beneficial by the scale of economy, prosperity etc.

Mr. Lotus Kamal is an ideal of other politician.

Bangladesh cricket enthusiast and Abahani club organiser and ruling Awami League MP A H M Mostafa Kamal, better known as Lotus Kamal is the current president of Bangladesh Cricket Board. The government on Sept 2009 appointed him as the position of BCB president. He took office after 17 years as the chairman of Abahani cricket committee, which made him a popular choice for the coveted post.

"I want to work with responsibility. This is not a political platform. We will not do anything on political considerations. Board members will work according to their capabilities," Kamal said to bdnews24.com after the appointment.

.Kamal, a Comilla-9 lawmaker also heads the parliamentary standing committee on finance ministry. Along the same line he has furthermore been appointed by the International Cricket Council (ICC) to become the Chairman of the ICC's Audit Committee. This is the first time that a representative from the BCB in the ICC and the IDI has been chosen for this prestigious position..

The role of the Audit Committee is to review the ICC's financial reporting process, the system of internal control and management of financial risks, the audit process and ICC's process for monitoring compliance with laws and regulations and its own code of ethics.

Kamal added greater honour and success to our cricket history by being appointed as the 21st president of the Asian Cricket Council following the annual general meeting held in Singapore in June 2010. He was one of the 12 members of the previous ACC executive committee. Kamal hoped that Bangladesh cricket would gain substantial progress in cricket in the next two years taking cooperation of Asian Cricket Council and International Cricket Council where he holds brass positions simultaneously.

His recent achievement has been a momentous one in the history of Bangladesh Cricket as he successfully accomplished hosting the ICC World Cup 2011 Opening Ceremony in February 2011.Barely 10 years after being given Test status, it was a giant leap for Bangladesh as a nation as the minnows, known to pull off stunning wins in big events, hosted perhaps the biggest sporting show so far in their history. Bangladesh proudly hosted their biggest sporting event which we can say the most successful and amazing opening ceremony in the cricket history at the renovated Bangabandhu Stadium in Dhaka in front of 25,000 spectators and millions of cricket lovers watching around the world.

The Cricket world cup 2011 opening ceremony held at Dhaka registered a rating of 9.69 by IMG, just behind the Beijing Olympic (9.78). Even the FIFA WC 2010 opening ceremony is behind us with a rating of 9.58.Kamal vowed that the 2011 ICC World Cup would take Bangladesh to new heights on the world's sports map.

Kamal is the president and chief executive officer of Lotus Kamal Group, a business conglomerate involved in a number of business disciplines covering manufacturing, trading, services and real estate sectors.

All the business enterprises coming under LK is founded by Mr. AHM Mustafa kamal, FCA, MP who is also the President & CEO of the Group. Mr. Kamal is a brilliant Chartered Accountant who qualified in the year 1970 from the Institute of Chartered Accountants of Pakistan occupying 1st position. After putting in about a decade's service in the profession as a Public Accountant Mr. Kamal started his business career in the year 1981 by establishing his first manufacturing unit title Lotus Engineering Industries Ltd,. a project involved in the manufacturing of jute and textile mills machinery and spares

Welcome to Lotus Kamal Group

Lotus – Kamal Group (LK ), a business house involved in a number of business disciplines covering manufacturing, trading, services and real estate sectors.

All the business enterprises coming under LK is founded by Mr. AHM Mustafa kamal, FCA, MP who is also the President & CEO of the Group. Mr. Kamal is a brilliant Chartered Accountant who qualified in the year 1970 from the Institute of Chartered Accountants of Pakistan occupying 1st position. After putting in about a decade's service in the profession as a Public Accountant Mr. Kamal started his business career in the year 1981 by establishing his first manufacturing unit title Lotus Engineering Industries Ltd,. a project involved in the manufacturing of jute and textile mills machinery and spares.

Mr. Kamal has rich personal contacts apart from Bangladesh also in the countries of Saudi Arabia , United Kingdom, Malaysia, South Korea, India and Pakistan and for a number of LK units he has either equity participation from overseas partners and /or a technical support.

LK is currently consists of 19 business enterprises of which 9 are in the manufacturing, 5 in the service, 2 in the trading and the remaining 3 are in the real estate sectors .

.

Category: Business & Services / Group of Companies

Categories: Agricultural Products & Services Art & Culture Automotive Book, Stationery & Supplies Business & Services Chemical & Paper Childrens Goods Community & Organizations Computer & Internet Consultancy & ConstructionEducation & Career Electrical & Electronic Fashion & Jewelry Food & Beverage Garments & Accessories Health & Medicine Household & HandicraftsJute Goods & Tea Leather & Leather Goods

http://www.bdyellowbook.com/catalog/Leather___Leather_Goods/

http://www.bdyellowbook.com/catalog/Jute_Goods___Tea/

http://www.bdyellowbook.com/catalog/Household___Handicrafts/

http://www.bdyellowbook.com/catalog/Health___Medicine/

http://www.bdyellowbook.com/catalog/Garments___Accessories/

http://www.bdyellowbook.com/catalog/Food___Beverage/

http://www.bdyellowbook.com/catalog/Fashion___Jewelry/

http://www.bdyellowbook.com/catalog/Electrical___Electronic/

http://www.bdyellowbook.com/catalog/Education___Career/

http://www.bdyellowbook.com/catalog/Consultancy___Construction/

http://www.bdyellowbook.com/catalog/Computer___Internet/

http://www.bdyellowbook.com/catalog/Community___Organizations/

http://www.bdyellowbook.com/catalog/Childrens_Goods/

http://www.bdyellowbook.com/catalog/Chemical___Paper/

http://www.bdyellowbook.com/catalog/Business___Services/

http://www.bdyellowbook.com/catalog/Book__Stationery___Supplies/

http://www.bdyellowbook.com/catalog/Automotive/

http://www.bdyellowbook.com/catalog/Art___Culture/

http://www.bdyellowbook.com/catalog/Agricultural_Products___Services/

http://www.bdyellowbook.com/catalog/Business___Services/Group_of_Companies/

http://www.bdyellowbook.com/catalog/Business___Services/

Machinery & EquipmentMills & Industries News & Media Oil & Gas Industries Plastic & Rubbers Real Estate Recreation & Fitness Shopping & Greetings Telecommunication Tour & Travel

Our Company's

Lotus Engineering Industries Ltd. (Manufacturing Sector)

Year of establishment : 1981

Type of company : Private Limited Company.

Major shareholders/partners

: 100% owned by Mr. Kamal and his family members.

Employment strength : 60

Annual turnover : Taka 20 million

Nature of business : Manufacture of jute and textile Mills machinery spares and agricultural implements.

Hardwood Dimensions (Bangladesh) Ltd. (Manufacturing Sector)


Type of company : Private Limited Company .

Major shareholders/partners : 45% owned by Hardwood Dimensions Limited, UK, 9% owner by Freeman Sports, Pakistan and 46% owned by Mr. Kamal and his family members.



Nature of business : Industrial wood processing, sports goods.

CMC-Kamal Textile Mills Ltd. (Textile and Spinning Sector)


Type of company : Public Limited Company.

Major shareholders/partners : 50% owned by General Public and

http://www.bdyellowbook.com/catalog/Tour___Travel/

http://www.bdyellowbook.com/catalog/Telecommunication/

http://www.bdyellowbook.com/catalog/Shopping___Greetings/

http://www.bdyellowbook.com/catalog/Recreation___Fitness/

http://www.bdyellowbook.com/catalog/Real_Estate/

http://www.bdyellowbook.com/catalog/Plastic___Rubbers/

http://www.bdyellowbook.com/catalog/Oil___Gas_Industries/

http://www.bdyellowbook.com/catalog/News___Media/

http://www.bdyellowbook.com/catalog/Mills___Industries/

http://www.bdyellowbook.com/catalog/Machinery___Equipment/

different financial institutions and 50% by Mr. Kamal and his family members.



Nature of business : Cotton yarn spinning having 25000 conventional spindles and 2000 open end spinning rotors.

Lotus- Kamal Spinning Mills Ltd. (Textile and Spinning Sector)



Major shareholders/partners : 100% owned by Mr. Kamal and his family members.



Nature of business : Cotton yarn spinning having 25000 conventional spindles and 3000 Schlafhorst autocoros.

Lotus-Kamal Knitwear Ltd. (Textile Sector)






Nature of business : Knitting, dyeing and finishing of knit fabrics.

Samwon- LK Electronics Ltd. (Manufacturing Sector)



Major shareholders/partners : 50% owned by Leap techno Ltd. , Korea and 50% owned by Mr. Kamal and his family members.



Nature of business : Manufacturer of colour television LCD monitors computers and other household appliances.

Prolexus Lotus-Kamal Ltd. & JoyLine (Garments Manufacturing & Sourcing Sector)



Major shareholders/partners : 49% owned by Mr. Kamal and his family members and 51% owned by Prolexus Berhad, Malaysia.



Nature of business : Knit and oven garments.

Lotus-Kamal Holding Co. Ltd. (Service Sector)






Nature of business : Marketing and distribution.

Lotus Bangladesh Ltd. (Trading Sector)






Nature of business : Marketing and distribution

Asia Pacific General Insurance Co. Ltd. (Service Sector)




: 28% owned by Mr. Kamal and his family members and 72% owned by other business associates.



Nature of business : General Insurance

Orbital Enterprise . (Service Sector)


Type of company : Partnership firm.




Nature of business : Human resources and development and exports

Gulshan Medicare. (Service Sector)







Nature of business : Medical Diagnostic Center

Akar Design. (Real Estate & Related Sector)






Nature of business : Architectural design and interior

Lotus-Kamal Automobiles Ltd.






Nature of business : Import of automobiles and spare parts, distributorship of automobiles, servicing centre, etc.

Business Ventures Awaiting Implementation :

1) Oryong Lotus-Kamal Paper Mills Ltd., A Joint Venture With Korea For The Purpose of Manufacturing Jumbo Paper Roll & Other Paper Products.

2) Lotus-Kamal Pharmaceuticals Ltd., A Project For The Purpose of Manufacturing All Types Of Antibiotics & Various Life Saving Drugs.

Orient Education Ltd. (Service Sector)


Type of company : Private Limited Company




Nature of business : Imparting need based education to our young stars: English Medium School

Akar Design. (Real Estate & Related Sector)







Nature of business : Architectural design and interior

Lotus-Kamal Automobiles Ltd.







Nature of business : Import of automobiles and spare parts, distributorship of automobiles, servicing centre, etc.

The annual turnover of LK is estimated to be taka 3500 million and in dollar terms it comes approximately to US$ 60 million and the group employment stands at around 4000 personal.

Question-1: Assalamualaikum Sir. First of all we are heartly congratulates you for successfully arranging such a glorious Opening Ceremony of ICC world Cup 2011 for the first time in Bangladesh.

Mr. Kamal: Thank you. I am also feeling honored and proud to arrange this gigantic task and grateful to our honourable Prime Minister for believing me.

Questions-2: Sir we all are from Department of Accounting & Information Systems, Comilla University. Mr. Bishwajit Chandra Deb is the Chairman of our department. Our honourable course teacher Mr. Shuvabrata Saha has assigned us a case study on one of the most successful entrepreneur of Bangladesh and on the basis of which we have to submit an assignment. We have chosen instantly you without any doubt as we know that you are one of the most famous, renowned and successful entrepreneur in our country.

Mr. Kamal: It’s my honour that you have chosen me. I am also from Comilla, it’s my birth place and I am very knowledgeable about all the history behind the establishment of Comilla University. I was also a part of that procession. I am very happy that at last we have achieved it. And also happy to see all of you, the students of Comilla University here. You can ask me any question without any hesitation.

Questions-3: Sir, as an entrepreneur, a successful entrepreneur how will you define entrepreneurship from your point of view? Do you think you are successful?

Mr. Kamal: I think, entrepreneurship is nothing but some attempt, aptitude, initiatives with some creative, new innovation of ideas, concepts for establishing a new business. In this manner I can firmly say that I am successful. Because whatever I thought, planned, I got them exactly what I am expected.

Questions-4 : What was your aim in life? Is it your dream from your childhood that one day you will be a successful entrepreneur, businessman or a politician?

Mr. Kamal: No, I loved to play cricket. I wanted to be good cricket. I was a player also, but from my love, attraction towards cricket today I came to

be the Chairman of Bangladesh Cricket Board. It is one of my great achievement that today’s Bangladesh cricket have came at this stage.

Questions-5 : How do you came in business? What was your inspiration to enter into this field?

Mr. Kamal: It was about in 1970. I read a story of Macdonalds, which is still a popular fast food company all over the world. Macdonald’s started to launched restaurant from 15 to 20 kilometers away from any city that is in rural areas. After launching a restaurant they launched a petrol pump nearby. Like this with establishing every restaurant there is an petrol pump. And within 6 month the rural area become more developed and advanced, newer sector expended in a wider area. The landed property becomes so expensive then in earlier. From this story of Macdonalds I am inspired and started to buy land from 1979, professionally to establish business, factory and industries.

Question- 6: How you have started your business and taking initiatives to make employment opportunities of people?

Mr. Kamal: I think purchasing land was a great investment for me. The land that was I purchased at 7,000 tk at that time, now it is about 4 crore tk. Today my office that is in Nikunja, it was bought at about 75 lakh tk in 1990, now it is about 75 crore tk. I was not so interested al land at first. One of my friend was in Adamzi Jute Mill. One day I with my wife was going to met with my friend at Adamzi Jute mill. When the shift changed we saw thousands of worker working there. And my wife started to tell seeing them Allah bless them who make employment, give opportunities to these poor people. And then I decided that I will make employment of 10,000 employees. With this ambition I started to buy land for building factory, industries. When I have started business I got a lot of support from everyone. I started to build jute mill, textile mill, spinning mill from that time.

Questions-7: To be a successful entrepreneur what sorts of qualities do you believe an entrepreneur should have?

Mr. Kamal: I will say, it is honesty, only honesty. If you are honest, confident and determined towards your job you can do anything. No one can stop you. Besides this you should have enough knowledge, idea, experience, towards your business. Your honestly, integrity,

determination and strong desire to become succeeded will influence you, inspire you to become successful one day. Always think like this that I have to be number one.

Questions-8: Today you are one of the top level businessman for your huge achievement, who was the idol behind your successful life. Is there any other person whose ideology you have followed in your business plan?

Mr. Kamal: I have already told that it was the Macdonald company. Besides this I always follow the worlds best successful, honest businessman, their biography, what they love to do, learn. My education, study also helps me a lot. Humaira Rashid who is the daughter of Central Bank Governor- Mr. Rashid, was so famous at that time. Her work, activities, achievement were the newspaper heading that time. Mr. Ambany who worked in a petrol pump in Mumbai. Now Ambary group is one of the popular group in India. Lakhs of people are now employed under this group. They are also ideal for me whose idology inspired me a lot.

Question-9 : We know behind every successful man there is a contribution of women. To whom will you give the honour to contribute behind your reason’s of successful life? As we know you are a businessman, entrepreneur, sport organizer and a politician also. How will you maintain all of these at a time?

Mr. Kamal: My success can be credited to the three very important women in my life my wife Kashmiri Kamal and my two daughter- Kashfi and Nafisa Kamal.

I am not performing all these role by myself. A lot of people are entangled with me. My wife Ms. Kahmiri Kamal also completed the Article ship of chartered Accountants course and is activity involved with business operation of LK Group.My eldest daughter Ms. Kashfi Kamal and younger daughter Ms Nafisa Kamal are also actively involved in day to day business affairs of LK Group.

Questions-10: What difficulties you faced in your entire entrepreneurship, business life? How did you overcome these?

Mr. Kamal : It’s not an easy journey for me to reach on this position. A lot of difficulties I have, suffered from my boyhood. I completed study myself by tution and lodging. When I a was going to admit in Dhaka

even I had no train ticket and I was brought down from running train. These kind of hindrance I faced in my student life.

You know I am an active politician. For political co-incidences I had to stay in jail for 2 years while my business was in very good position. When I came out from jail I met a net lass of 50 crore tk. Some of my products LK TV, Monitor etc were banned by govt. I was so frustrated that time and decided that I will never establish any business again. But again I have started with my strong determination, aggressiveness towards this field.

While I was arranging ICC World Cup 2011 Opening Ceremony a lot of hindrances I have seen. Those people who should help me rather then they discouraged me for doing the task. ICC also threatened me that there is a lot of political conflict and arguments on your cricket Board , you can’t accomplish this task. But I was very serious and confident that I can do it. Today the whole country have seen how Bangladesh is get introduced, enlighted all over the world through this arrangement. In ranking Bangladesh is in now number 2 in position.

Questions- 11: What is your future plan, initiatives in Bangladesh and outside that you have not yet been taken?

Mr. Kamal: You know, that the most valuable resource of our country is manpower. Day by day this increasing population is becoming a liability now. We have to turn it to as a productive resources by giving proper training. The skilled manpower is a real manpower, until it is only the population or the liability for the country. If in our country there is nothing else, but we can go further 200 years with our productive manpower, by proper utilizing it can be a great resource of our country then any other country can’t compete with us. I want to make a sizable number of industries, more employment for this large number of population by utilizing this valuable manpower.

I want to play a vital role for developing Bangladesh business sector . My friends, relative those who are in business, entrepreneurships, I will help them in expanding their business. I will try to certify proactive rules and

regulations for business by the help of our govt. so that businessman and entrepreneur can make their business efficiently.

And I am also doing a lot of activities outside the country as I am the chairman of ICC Audit Committee and the President of Asia Cricket Council.

Questions-12: Sir, Is there any special attempt or future plan for Comilla?

Mr. Kamal: Yes, you know I have already established an Industrial Park in Lalmai. Already I have worked for developing Comilla EPZ and a lot of work I wishes to do in Comilla. Because I want to see Comilla more developed and enriched than in earlier.

Questions-13 : Sir, except business what are the social activities that you attached with?Mr. Kamal: You should always remember the end of any work. Your mind will remind you where you are neglecting, from .Whatever you do it should be good for you as well as good for all people surrounding you. Allah also loves those people who work for the welfare of the society as well as all over the world. I always try to help my poor relatives. I have been doing a lot a of activities from my student life for poor people. I have served people from my scholarship money, tution fees. Even I am doing a lot of service for developing and factorizing of people’s good work. And it is our duty to make better service, I always try to make better service for the welfare of general people and inspire them to do good activities

Always remember, behind every good kings there’s a lot of criticism. But you should not ignore them, you should observe them and utilizing this criticism towards your job. One day you will be successful.

Questions-14: We know that Bangladesh is a developing country, if any one wants to establish a new business what will be your suggestions for them? What they should do to overcome this lackings now-a-days?

Mr. Kamal : Bangladesh is in now such stage that we have not even been started. The economy of our country is now at take of position if you compare it with a plane. Our economy is not yet so strong. Our new entrepreneur should be aware of the economic condition of our country.

Every day we have to learn, understand what’s happening, the surroundings, the world economy. We have to see, identify what’s our problem, where is possibility? The possibility is that there are a lot of opportunities, resources, potentials to earn profit in a better way. It is the high time to establish new business such as hotel, restaurant or other service as our cost components, gas, electricity, water all are cheaper than other country. It needs only unique, new idea, innovation, creativity to build any kind of attempt.

Questions-15 : To be a successful entrepreneur like you what will your advice to us, to the young generation?

Mr. Kamal: The subject “Entrepreneurship” that you are studying is the most vibrant subject. First of all you should comprehensively study the subject with all other related topics. The more you read the more you know about this. This is the high time for you to prepare yourself. You should be knowledgeable about business, realize business law, income tax, insurance, banking and economics also.

To be successful you must have some capital, must have aptitude towards entrepreneurship, utilize technological advancements as it is the era of information technology. Make and develop new software like Billgates who started with garage with some of his friends. Do not think from too small area like, Salmanpur, Comilla University, Make your thought more broader and wider, all over the world. Think the whole world in one place like under a banyan tree. People from all over the world will crowd there and you have to buy your product there, represent yourself there as an unique, extra ordinary personality.

You should have aptitude to be an entrepreneur from now you have to be mentally fit to not to do any job but render job, facilities, services to others.

Questions- 16: Sir, we all are very grateful and thankful to you for giving us valuable time in spite of being so busy with your daily routined tasks. Sir, we are cordially inviting you in our University campus. We hope your support, co-operation in our University will encourage us more to introduce our University all over the world.

Mr. Kamal: I am also feeling good to meet with you all the students of Comilla University. From 1996 we had started our journey to establish

Comilla University but it was too late. But I hope the bright future of Comilla University. I am also a student of Accounting and I had taken some lecturer also as a part time teacher in Dhaka University. I am also wishing to go Comilla University and hope to take a lecture of you students of Accounting Information system.

Characteristics active in case of Mr. Kamal:

Whether Mr. Kamal was a successful entrepreneur or not, we have to analyze case. By analyzing we find that Mr. Khamal processed the following characteristics:

1. Confidence:- Mr. A. Kamal is self confident. He has confidence to himself and to every parties related to him.

2. Perseverance, determination:- He is a person of having perseverance and determination.

3. Energy, diligence:- He is a person of having energy and diligence. He is industrious. He has integrity to the business.

4. Ability to take calculated risk:- He is able to take moderate risk not more risk nor less risk.

5. Dynamism and leadership:- He is always dynamic, because he knows that what is new today will be old tomorrow. He also be a dynamic leader because he can be able to lead a large number of parties

6. Optimism:- He is people who always hope for the best.

7. Need to achieve:- He had high extent of need for achievement motivation. For that he works hard to succeed in his business life.

8. Versatility:- He has enough knowledge of product, market, machinery, technology.

9. Ability to get along with the people:- He always kept harmonious relationship with others i.e. he always followed a theory which is “friendship to all and enmity to none.”

10. Ability to influence others:- He always try to keep the friendly relationship with workers, employees for that he could easily able to influence the workers to do the work and also to influence the customer to buy the products.

11. Initiative:- He has taken initiative for all work.12. Independence:- He is independent i.e. self dependent in his life, in his

work and even in taking decision.

13. Responsibility:- Mr. Khamal cared his business like his own children. Besides, he is also responsible for his family and society.

14. Farsighted:- He is farsighted i.e. he can be able to see everything in future.

15. Profit orientation:- The aim of entrepreneur is to make profit for the business. MR. A.K. Khan is also that entrepreneur whose aim is to make profit for the business.

16. Sense of power:- He has the power of sense and for that he, can understand everything very clearly.

17. Pleasant personality:- He has the quality of a good leader and he has the capacity to convince others.

18. Perceptiveness:- In business, there are a lot of future difficulties and for that an entrepreneur must be perceptive. Mr. Khamal is also perceptive because he had enough new idea to face future difficulties.

19. Ability to trust workers:- As Mr. Khamal try to keep harmonious relationship with workers, he is able to trust them and workers are also able to trust him.

20. Honesty: He is an honest man. Though Mr. Khamal have enough business idea, because of his honesty he would be a successful business man.

In a nutshell, we can say that the above characteristics made him a successful entrepreneur. We look for many more sons of the soil like him.

Qualities active in case of Mr. Kamal:

From the case of Mr. Kamal we have seen that a successful entrepreneur should have the following qualities-

1. Moderate risk taking:- Entrepreneur should take moderate risk i.e. not high nor low. If he takes high risk he will be a gambler.

2. Ward work:- A successful entrepreneur is one who always works hard for the success in the business.

3. Educated in real sense:- A successful entrepreneur must be educated & he should apply his education for the welfare of his business govt., country or family.

4. Analytical mind:- A successful entrepreneur must have the power. to analytic everything.

5. Dynamic leadership:- Without leadership a person cannot be an entrepreneur because he has to lead a large number of parties like customer, creditors, works etc.

6. Courageous and tactful:- A successful entrepreneur should be courage. He should tackle any difficult situation tactfully.

7. Far-sighted: A successful entrepreneur should be far-sighted i.e. he should think for future and also plan for long period.

8. Strong desire to be succeeded: A successful entrepreneur should have high extent of need for achievement motivation. Because, without it, desired success is difficult to achieve.

9. Innovation: A successful entrepreneur should innovate the new ideas which help to innovate new line of product, new market.

10. Self-confidence: A successful entrepreneur should be self-confident and self-independent otherwise no one can rely on him.

11. Goal Setting: A successful entrepreneur should set a specific goal very effectively for success in the business.

12. Loves new ideas: A successful entrepreneur should love any sorts of new ideas. For example, idea of a new product

13. Optimist: A successful entrepreneur should always hopes for the best and wait for the best.

14. Strategist: A successful entrepreneur should have a strategy.

The above are the quality of a successful entrepreneur. Mr. kamal have the above quality for that he is a successful entrepreneur.

Theory of entrepreneurs active in the case of Mr. Kamal:

From the analysis of the case of Mr. Khamal, he followed more than one theory. He is followed by:

1. Achievement-motivation theory.

2. Risk-taking theory.

3. Autonomy or Independence Motivation Theory.

4. Creativity or Innovation Theory.

5. Power motivation theory.

1. Achievement-Motivation Theory: According to this theory, the high extent of achievement motivation activates entrepreneurs. Actually, the most important spirit for the advancement of civilization is achievement motivation or entrepreneurial spirit. Entrepreneurs with strong motivation for achievement must have he following characteristics:

a) Take personal responsibility.

b) moderate risk.

c) Seek feedback.

d) Sacrifice small interests for the sake of big one.

From the analysis of the case of Mr. Khamal has the high extent of achievement motivation. He always try to achieve the best and also try to achieve the high position. For this motivation he was able to be a successful entrepreneur. Besides he has the above characteristics that entrepreneur with strong motivation for achievement must possess.

2. Risk Taking Theory:

The essence of this theory is that entrepreneurs should have the inclination to take moderate risk and the ability to bear that risk. Mr. Kamal has enough knowledge about business, because he is an FCA

and passed B.Com and Masters in commerce and he takes risk as a challenge, and reduce risk by his gathered knowledge. .

3. Autonomy or Independence Motivation Theory:

This theory tends to emphasize on the independent thinking of entrepreneurs. Self- confidence, self-independence, self-controlling ability and ability to think independently are said to be the characteristics of a successful entrepreneur.

From the case, we see that Mr. Kamal was self-confident, self-independent. He can take decision independently and confidently.

4. Creative or Innovative Theory:

Creativity is concerned with the origin of new and fundamental ideas or views. Creative individuals use their talents, thinking ability to create something new and with the help of various techniques bring new ideas in to practice. Mr Kamal is also always trying to create new and creative idea of business and thus is able to create a large number of employment opportunities.

5. Power motivation theory:

Power influence people and that influence make a man powerful. Mr. Kamal is also a powerful person as he involved with politics. He influences people to come forward in doing something new.

Hurdles faced by Mr. Kamal:

Mr. Kamal faced various types of hurdles and difficulties at every step in his life. When he started business, he had small amount of capital. Because he is a son of poor farmer. He faced financial problem in his student life and carried his educational expenses by his own effort.

As he is involved with politics frequently he has to face political incidences. For the reason he lost his valuable two years in jail. At this time LK Group had a net loss of 50 crore tk. The Govt. of Bangladesh at that time banned some of products of LK Group such as. LK TV, LK Monitor etc.

Recently while arranging ICC World Cup 2011 Opening Ceremony he has been discouraged by some member of BCB. But finally he has got the opportunity and successfully completed this huge task.

But he did not stop. He always wanted to do something new and he identified that a large number of employment opportunities can be created through promoting a sizable number of industries in the country.

Comments on the entrepreneurship of Mr. Kamal:

Learning about the life history of Mr. Kamal, obviously we can that he is a successful entrepreneur. With adequate knowledge of business and accounting, he took all the challenges of his professional life and has tried heart and soul to succeed in the business. Mr. Kamal is very much used to conducting the business efficiently and always wants to do something new for the welfare of the country. After establishing industrial units he cares his industrial units like his own child. Most of the crucial decisions are taken by line. He believed in good owner employee relationship. He emphasized more on innovation. He is very social as he is a politician. Mr. Kamal leads a luxurious life with strong confidence.

In a nutshell, Mr. Kamal is known a successful man in all spheres of his life as well as an entrepreneur, as an inventor, as a social worker, as a politician, as a organizer, a cricketer and a leader also.

The recommendation that results from this Case Study reached on this decision that suggests and will help us to be a successful entrepreneur in future. In this regard we have to make proper and appropriate use and implementation of our study, knowledge, skill, technique towards the sphere of entrepreneurship. It is thus necessary to keep in mind the supplementary characteristics, qualities, hurdles and theories of entrepreneurship and other essentials. In this manner we need of improving, widening and observing this sector enthusiastically to enrich ourselves as more as possible.

In conclusions it can be firmly be said that the achievement of goal of an Entrepreneurship is correlated with the success and the development of all entrepreneurial work . We hope this assignment will help us in future to build up our carrier on entrepreneurship. We are specially thankful to our Course Coordinator Mr. Shuvabrata Saha for inspiring us and making the way to face a personal interview for the first time of a successful entrepreneur. We were really excited and thrilled to do the tasks and even feeling honuor for getting close with Mr. Kamal. It’s made us more confident, enthusiastic and wishes it will help us in doing more challenging tasks in future. Finally, we are requesting to our Course Coordinator please forgive us for any of our mistakes as we are in process of learning.

Entrepreneurship, Small business and Lives of Successful Entrepreneurs:

Dr. A R Khan.

Articles, Case Study,Sheets:

Provided by Mr Shuvabrata Saha.

Class Lecture:

Provided by Mr Shuvabrata Saha.

From Internet:

Websites:

Welcome to Lotus Kamal Group --_files

Lotus__Kamal_Group-info23089_files

Our_Company_files

Our_Companydfdf_files

Successful-Entrepreneur-in-Bangladesh_files

Corporate_Management_file

Lotus Engineering Industries Ltd

Personal Interview:

Taken from AHM Mustafa Kamal.

END

Entrepreneurship

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renowned entrepreneur

comilla universitysalmanpur

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