Ahmed Akber Sobhan February 15, 1952 (age 69 years)

                                    Ahmed Akber Sobhan February 15, 1952 (age 69 years)

                                        Written By: TEAM Laureate Folks International

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Dear Laureate Readers,

Today, [WE] will write about the brief Biography of Mr. Ahmed Akber Sohban who is currently ranked as the 6th Tycoon in the Business Industry of Bangladesh.

        Ahmed Akber Sobhan who was born on 25^th Feb1952 is considered the Bangladeshi Business Magnet. He is the founder and chairman of Bashundara Group. The activities that are performed under Bashundhara Group are real estate activities, and production of cement, and LP gas, paper, and steel products, construction of steel complexes. The group is also found involved in local and international trade by exporting these products.

Mr.Subhan started his business journey in 1978 as East Company’s preowned Property Development (Pvt) Limites. He is the founder of a valuable company with a net worth of more than $50 million.

The group has experienced incredible growth in the last ten years and the first company of the group that got publicly traded by getting listed on two stock exchanges of Bangladesh was the Meghna Cement Mills Limited. The latest collection to the group is a media house named East West Media Group Ltd which was established in 2009.

Ahmed Akber Subhan who is considered the backbone of the nation was born in Islampura of the old Dhaka city. His father was a lawyer by profession and has practiced law at Dhaka high court. He graduated from the University of Dhaka in business studies. He has one brother and three sisters.

Mr.Sobhan started his business career in 1978 by establishing a company known as East-West Property Development (Pvt) Ltd which afterward became popular as Bashundara housing. The reason behind his success is his hard work and ability to maintain the quality of services that he is providing to his customers. After getting successful, he also stepped into the service industry and started trading on the domestic front.

With a defined aim and vision and working with untiring efforts, Mr.Subhan has become the owner of a group of companies that are considered to be giant in their relevant sectors. After facing ups and downs in his life, he is chairperson of three dozen moderate to heavy venture steel engineering, paper, tissue, cement, LP gas, Sanitary napkins, food, and beverages, etc. Other than the tiring efforts he made use of IT and kept himself and his staff updated with the use of technology. His business group has enabled Bangladesh to cuts down their imports of the products produced by his group of companies. 

He has given an idea of an ideal entrepreneurship structure through his well-designed corporate structure and true and fair reporting by clearly defining responsibilities and keeping a track of accountability. With his tiring efforts, his Group is included amongst the biggest Groups of Bangladesh.

Ahmed Akbar Sobhan is married to Afroza beam and has four sons. They were all sentenced to 8 years of imprisonment on charges of tax evasion. During the political crisis in 2006-2008, he was forced to hand over the power of attorney to nine committee members as he escaped from the country with his family.

By introducing diversity in leadership he has also helped to provide employment opportunities to the people of his country. More than fifty thousand people are directly enrolled on the payroll of the Group of companies and the livelihood of more than half a million people is indirectly connected to the Group. The group is also serving the community at large as it is paying a significant amount of taxes on its income in the form of VAT, duties, and other taxes. The group is included amongst the largest taxpayers in the country.

The reason behind the success of the Group is that the chairman believes that no company can grow without its workforce. They consider its employees and other stakeholders as assets not as a liability. Using various methodologies they try to find out creative abilities in their workforce and find out new ways in utilizing their potential in the best interest of the company. The results of production after the implementation of their exploration are evaluated accordingly. The group of the company never wants to grow alone it wants all its stakeholders including customers, suppliers, shareholders, employees to grow with their success. The company has the strength of adapting to favorable conditions and working in unfavorable conditions to achieve the desired results.

Bashundhara Group is also considered to be one of the largest market leaders in many sectors and industries in Bangladesh. It has the vision to excel and grow in the private sector and serve the community being the largest private sector supplier. In this way, it would be able to serve the community as well by providing more jobs and bringing prosperity to the economy.

The limitation faced by the Group of the company is that no company has gone global yet and its presence in the global world is still missing. The company is planning to work with some pioneers and is engaged in announcing some future plans relating to global expansion.

The positive strength of the Group is that they have highly qualified people and all enjoy working either the work as their work is honored by the Group. The company is having a leadership position in the market but the negative point is that company is facing some legal and tax issues. The company is working on the cost leadership strategy as they always prefer to reduce their product cost.

Ahmed Akber Sobhan is actively associated with various social and humanitarian activities to serve and develop society and common people. To achieve this aim he has also established two welfare foundations that are working for the betterment of the underprivileged people of the company. These two foundations are working with the mission “for the country, for the people”.

They need to expand globally by introducing their products in the global market. They need to stay competitive by launching new product range and introducing their products in new segments. They need to decide a consistent objective keeping in view that sales and profits cannot be maximized at the same time.

 

 

 

 

 

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