Local companies play a major role in economical development
With a long and successful career near the top of several multinational companies (MNCs), Reazul Haque Chowdhury took the helm of Runner Automobiles in November 2018.
As managing director and ceo (CEO), Chowdhury is currently determined to sail the business to new horizons.
Some other corporate personalities would like to stick to MNCs so that you can sustain their careers, Chowdhury rolled the dice when he used his position with Bangladesh's leading motorcycle manufacturer.
He thinks many local companies have previously pulled up their socks and prepared themselves for the long term.
However, these businesses still have a long way to go, Chowdhury said.
When one compares the sizes of local and multinational corporations, it appears that domestic firms contribute heavily and play an extremely vital role in financial development.
"And so, MNC professionals like myself have a job to play in developing local companies for the betterment of the country," he added.
Even though local corporations now operate under a professional structure, there are still cultural variations between MNCs and their domestic counterparts.
The MNC culture abroad took decades to build but local companies are just now starting to develop a proper corporate culture.
There are advantages of dealing with local companies though, such as faster decision making and capability to take risks as had a need to further the business.
"However in MNCs, there are lengthy protocols to follow," Chowdhury said.
Runner Automobiles, the country's first manufacturer and exporter of motorcycles, commenced its journey in July, 2000.
The business made its trading debut on May 21 this past year with an try to survive the long term while maintaining compliance.
Runner Automobiles currently exports two-wheelers to several international destinations.
"Soon, many local companies will flourish as Bangladeshi MNCs," he added.
Chowdhury also shared his journey on learning to be a CEO.
"We were the post-Liberation War generation and had no particular ambition. But I was fortunate to start out my career with British American Tobacco (BAT), that i consider a resource factory," he said.
During his 10-year stay with the BAT, Chowdhury quickly ascended the ladder before joining Unilever as its customer management director.
The lateral proceed to Unilever was a unique opportunity for Chowdhury as it led to the realisation of his dream to be always a CEO.
"The main part of my career was my time with the nice persons at the BAT and Unilever. I am here today because of their contributions to my career," Chowdhury added.
The journey towards learning to be a CEO is never defined. Instead, persons must have a good plan at heart and take things one step at the same time, based on the managing director.
"Never compromise on learning when building your foundation, which is the first 4 or 5 years of your job. In the event that you do, survival will be tough," he said.
When coming up with a switch from any company, Chowdhury follows a simple principle.
"I make sure that I leave my post in the most successful position. I never switched because I failed."
After the BAT and Unilever, he joined Reckitt Benckiser as managing director because of their Sri Lankan functions in 2008.
Despite the fact that a civil war was raging in the united states at that time, Chowdhury took the chance by leaving his comfort zone.
He believed that this was a fundamental element of his future and that such courage is an integral trait for leaders.
Chowdhury acted as managing director of Reckitt Benckiser from 2008 to 2016 because of its Sri Lanka, Bangladesh and Thailand cluster. Ahead of joining Runner Automobiles, he was the general manager for South Asia at Avery Dennison RBIS.
Being on the whole management usually entails the same duties whatever the company.
"However the challenging part is to learn the trade secret of each industry you enter," he said, adding that he knew nothing about automobiles before taking on his current position.
"Yet I took the task. Those that learn fast will never maintain trouble."
There is absolutely no defined work for a CEO apart from playing an excellent leadership role.
A CEO leads his or her company through various challenges, ensures business continuity through regular tasks while remaining focused on the wellbeing of his own people.
Robert M. Rosenberg, former chairman and CEO of Dunkin' Donuts, once said being a CEO was like being truly a sailboat captain who enjoys times of calm before being called directly into tackle occasions of sheer terror.
And as managing director and CEO, Chowdhury is currently tasked with leading the business through all the monetary uncertainty due to the ongoing coronavirus pandemic.
The current crisis can be an unprecedented situation that the united states was not prepared for but Runner Automobiles decided that the employees' wellbeing comes before the business, according to Chowdhury.
With the country having entered a nationwide general holiday on March 26 to curb the spread of Covid-19, there was no demand available in the market until the shutdown measures were removed 8 weeks later.
And so, the business began to arrange for the future to ensure its survival.
"We assured our employees that there would be no job cuts. I assume that whatever the company does for them, they'll make an effort to give it back to the business," Chowdhury said.
The pandemic has been a great opportunity aswell though as local businesses have realised they can operate from home.
Even cars and motorbikes could be sold without showrooms, because of the advent of online retail platforms.
"These lessons can help reshape the continuing future of the business," he added.
Experience does not have any value without knowledge however the same is true backwards in terms of negotiation skills.
Any approach to negotiate with different stakeholders should vary based on what the moment demands.
"Which understanding comes through experience," he said, adding that both parties must "win through discussion".
Nowadays, many consider building a band of followers but Chowdhury believes that the CEO's most significant role is to create a resourceful team without favouring anyone specifically.
"Without a strong team, even the world's best CEOs can't deliver. The vision and strategy of a CEO should be executed by the team, and that's enough followership for me", he said.
An organisation is similar to the body, each part is equally important.
Present day organisations are interdependent-interconnected and all functions should be performed as successfully as possible to help make the company successful.
For CEOs, empathy and passion are the most important attributes you can have alongside a love for the work, Chowdhury added.
