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Department of Management Studies, University of Dhaka

Assignment onINTRODUCTION TO BUSINESS

Student Name : Mir Muhammad TareqStudent ID : 003-12-23-06Course Code : EM 501

Course Instructor : Tahmina Khanam, Assistant Professor

Date : 18-01-2012

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Samson H. Chowdhury An Intriguing Business Icon

Born on the 25th of September, 1926 in Pabna, Samson H. Chowdhury went on to

study at both Harvard University and University of Dhaka in Bangladesh (also known at

that time as "The Oxford of the East"). Upon completion of his studies he returned toPabna in 1952 and started his first entrepreneurial venture a pharmacy. This led to his

first success in business and he went on to begin the Square Group of Companies with

three of his friends in 1958. He was a well-known entrepreneur and was recognized as a

Global Business Leader in Bangladesh. He had been awarded with various national and

international recognitions from various business associations.

A devout Christian, Chowdhury served the Christian Community of Bangladesh

by ornamenting the higher positions of different Christian Religious Organizations. But it

wasnt his religious beliefs which took up the majority of his attention. His businessacumen and immense contribution to the development of Bangladesh made him

incredibly popular with the people and his contemporaries alike. He was of course

recognized for his achievements on several occasions, being awarded accolades such as

Business Executive of the Year by the American Chamber of Commerce in Bangladesh

in 1998, Best Entrepreneur of the Country for the year 20002001 by the Daily Star and

DHL Worldwide Express, Special Contribution in the countrys industrial and

commercial sectors for the year 2003 by the Mercantile Bank Award, For

Uncompromising Business Ethics, Honesty & Transparency of the year 2005 by the

Bankers Forum Award. He was also the recipient of CIP (Commercially ImportantPerson in Industry) 2009-2010 status by the government of the Peoples Republic of

Bangladesh.

It was through his dynamic leadership that Square Group is one of Bangladeshs

leading conglomerates with a turnover of more than $600 million, and Square has

recognized, like many others, the enormous potential of ready-made garment

manufacturing in Bangladesh. It was in 1997 that Square (famous for their

pharmaceutical production) entered the textile sector with its manufacturing of cotton

yarn. Under Squares unique and inspiring atmosphere, this new venture soon rose to the

top of the local textile industry and today it has one of the most sophisticated vertically

integrated set-ups. In 2002 after approximately half a decade producing quality textiles

for export-oriented garment manufacturers around the world, Square Group embarked on

their final stage of vertical integration through the establishment of Square Fashions Ltd.

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Using the highest standard of international technology and expertise, Square

Fashions Ltd. is producing quality apparel. Utilizing the cotton yarn which is the

companys superior product Square decided to complete their mission to be a one-stop-

shop for the international buyer and incorporate the manufacturing of a range of apparels.

Although Samson H Chowdhury breathed his last at the reasonably ripe age of 86,

his departure from the corporate world of this land has left a void hardly to be fulfilled.

His was a most successful story of entrepreneurship, more so because of the humble

beginning and the iconic transformation he had undergone within his lifetime. And to cap

his phenomenal achievements, his stellar character drew sustenance from honesty and

dedication to work ethics unlike many who opted for the short-cuts. There indeed lies the

man's greatness as an industrialist and corporate boss of a conglomerate. As a pioneer of

the country's pharmaceutical industry, his endeavour is priceless indeed in opening not

just one industrial front but many such windows of opportunity for others to follow in his

footsteps. A combination of a visionary and a workaholic, late Chowdhury proved his

managerial skills by remaining at the helm of affairs until he fell ill last month.

Hopefully, his last journey to the other world will not affect the management because his

life is a study in work, more works and with sincerity. He was strongly committed to

upholding the ideals and principles of good corporate governance. Thoroughly honest, he

was an earnest believer in transparency and accountability. A man of probity and

integrity, he was one of the few among the country's businesses who used to contribute

the most as an individual taxpayer to the public exchequer, without concealing or hiding

income. He set a unique example of corporate social responsibility (CSR) and led his

business enterprises to demonstrate, in practical terms, what good corporate citizenship

means.

His entrepreneurial legacy is a precious asset for industrialists and business

tycoons in Bangladesh to draw inspiration from. It is only natural that his co-travellers

are in mourning now but a man who has taught by examples of his life the value of

singular dedication to a purpose -- the purpose of catapulting the country with its narrow

industrial base to a higher plane where it can produce pharmaceutical and other products

of international standard -- mourning alone cannot be the way of paying respect to him.

Tributes paid to the memory of the exceptional builder of the conglomerate, the

'Square Group' will, thus, not be enough until entrepreneurs learn the lessons from his life

left as an open book by dint of his enviable work and corporate culture. His Midas touch

turned everything gold because he did not have anything unattainable on his wish-list and

this is despite the fact that he did never compromise on the question of work ethics,

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quality of products. His work talks for himself. A gentleman of exceptional suavity, he

thus never lost his touch with the soil of his country.

Today many Bangladeshi pharmaceutical companies are exporting to Europe and

America, but it was not so 50 years ago. It became possible because of dedication,

honesty and pro-activeness of some people among whom Samson H. Chowdhury is a

bright star. Same can be told about the investment of Square Group in Garments sector.

Samson H. Chowdhury showed a unique method that will attract potential foreign buyers

in the RMG sector. His guidance helped the owners of Square to open other industries

and that led them to a reputed group of companies. Young and new entrepreneurs can

follow this business pioneer as their role model.