Entrepreneurs should prioritise sustaining the morale of their team members in recent times considering the Covid-19 situation in Bangladesh, a noted industrialist told a webinar on Saturday.
The managing director of Anwar Group of Industries said such a strategy will help entrepreneurs come stronger to tackle the post-pandemic scenario.
"In the past three months, I've not allowed my people to break down. I've tried to be the strength of my people," Mr Manwar Hossain said, explaining his stance.
Outlining the characteristics of successful entrepreneurship, he said a good entrepreneur has to be honest and must work hard.
"There is actually no shortcut to hard work. An entrepreneur shouldn't believe in luck only. He has to be compassionate. He has to understand his people," added Mr Hossain.
"If anyone wants to become an entrepreneur like Ratan Tata and Anwar Hossain, he needs to understand his people."
But it is vital for an entrepreneur to acquire academic qualification as well, said Mr Hossain, also the chairman of Bangladesh Steel Manufacturers Association.
He made the remarks at a webinar styled 'Following the COVID-19 Pandemic: Challenges and Opportunities for Entrepreneurship' hosted by the Bangladesh-Malaysia Chamber of Commerce and Industry (BMCCI).
The webinar has been the sixth session of the BMCCI Web Talk Series supported by the telecoms carrier Robi.
The business leader articulated the importance of resilience, strategic agility and entrepreneurship in the context of the fight against COVID-19.
Mr Hossain also discussed the impact of COVID-19 on economies and businesses, governmental support for businesses and societies, and implications for global supply chain disruptions.
He highlighted the opportunities more than focusing on the hindrances in the way of prioritising online quality education, different language courses, lean management and foreign connections to develop different industries.
For an entrepreneur, Mr Hossain said, the pandemic situation has also brought some opportunities which were unanticipated before the virus outbreak.
He said many entrepreneurs are having more time to spend with their family members, invest more time to understand their team.
Acting Malaysian high commissioner in Dhaka Amir Farid Dato Abu Hasan attend the session as the special guest.
He said the COVID-19 pandemic is an unforeseen global phenomenon which has thrown the economy into chaos and effectively put commerce at a standstill.
It has affected most businesses, including small medium enterprises (SMEs) and micro SMEs, which make up a significant 98.5 per cent of Malaysian trade.
BMCCI president Raquib Mohammad Fakhrul conducted the interactive session and facilitated the webinar.
Former BMCCI president Syed Moazzam Hossain, the bilateral trade body's office bearers and tradespeople joined the virtual programme.