Entrepreneurship

Concept and Case

Dr. Muhammad Irfan Saleem MBA 1VSAN Institute of management Sciences

Dr. Muhammad Irfan SaleemMBA 1V

SAN Institute of management Sciences

TABLE OF CONTENTS

Thanks and Acknowledgements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .4

Dedication……… . . . . . . . . . . . . . . . . . . . .... . . . . . . . . . . . . . . . . . . . . . . . …….. 5

Entrepreneur. . ………………………………………………. . . . . . . . . . . . ……6

Entrepreneur in Pakistan……………………………………………………….… . 7

Background of Malik Riaz…………………………………………………………8

Bahria Town’s Background……………………………………….. …………….11

Chairman's Message …………………………………………………………….. 12

Vision. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . …………….13

Mission……………………………………………………………………………..13

Early Days of Bahria Town………………………………………………………...14

A Journey of Success……………………………………………………………….14

Welfare Projects…………………………………………………………………….15

Testimonials…………………………………………………………………………20

References……………………………………………………………………..........23

Thanks and Acknowledgements

I shall be thankful to Mr. AMIR SOHAIL for the research on Bahria town and helping out in making the presentation .I should like to thank Mr. Khalid and Mr. Noman Arshad for the assistance in trialing materials:

Dedication

Dedication to my parents.

Entrepreneur “An entrepreneur is a person who has possession of a new enterprise, venture or idea and assumes significant accountability for the inherent risks and the outcome.”

The term is originally a loanword from French and was first defined by the Irish economist Richard Cantillon. Entrepreneur in English is a term applied to the type of personality who is willing to take upon him a new venture or enterprise and accepts full responsibility for the outcome.

Jean-Baptiste Say, “a French economist is believed to have coined the word "entrepreneur" first in about 1800. He said an entrepreneur is "one who undertakes an enterprise, especially a contractor, acting as intermediately between capital and labour."

As a leader the entrepreneur is the main person behind a firm; she or he can demonstrate her or his quality as a leader by choosing the right managers for the firm.

Scholar Robert B. Reich considers leadership, management ability, and team-building as essential qualities of an entrepreneur. This concept has its origins in the work of Richard Cantillon in his Essai sur la Nature du Commerce en (1755) and Jean-Baptiste Say (1803 or 1834) in his Treatise on Political Economy.

A more generally held theory is that entrepreneurs emerge from the population on demand, from the combination of opportunities and people well-positioned to take advantage of them. An entrepreneur may perceive that they are among the few to recognize or be able to solve a problem.

ENTERPRENUER IN PAKISTAN

Malik Riaz HussianChairman of Bahria Town

Background of Malik Riaz

Although Malik Riaz belonged to a wealthy family, his father’s contracting business collapsed when he was just 19. By that time, he began his career as a ‘lowly clerk’ in Islamabad. Although there is no information available on his educational stream, some close to the entrepreneur say that he is a real intelligent person. He has been so poor during the initial years of his marriage that he did not have money to purchase medicine for his infant daughter. According to him, he never forgets being poor and that keeps him modest and generous. In the late 1970s, he was given loan by a friend to invest in contracting business. Riaz worked day and night for the success of his business and proved himself as a great business man. With the passage of time, his business and experience grew and he moved on to Malaysia for further projects. During his stay at Malaysia, he decided to introduce a world class luxury housing society in Pakistan and in the year 1996, he launched Bahria Town.

Malik Riaz Hussain is a Pakistani Real Estate Developer. He is known for creating Bahria Town, one of Asia's largest planned communities. Bahria Town, set between the capital Islamabad and its sister city Rawalpindi, is the "masterpiece" of his 40-year career, a $6 billion project. The nine phases: too vast to fully appreciate without standing on one of the plateaus that overlook them, will one day mesh together into a planned residential city for 1 million people. The project broke ground in 1996, and already, many of the 50,000 luxury properties in the development are owned by wealthy Pakistan expatriates who swooped into

Bahria Town after 9/11 to buy second homes amid fears they would be driven out of places like London, New York and Los Angeles. Equally important was the security and serenity that Bahria Town provides, which drew Pakistan expats and a smattering of wealthy Arab Muslims away from places like Dubai.

Net Worth Malik Riaz is officially one of the wealthies Pakistani's with a net worth estimated at USD 800 million.

PhilanthropyFollowing the devastating floods in Pakistan that took place in 2010, Malik Riaz pledged to give away 75% of his wealth to the country. He urged fellow wealthy Pakistani's to do the same and even wrote letters to 100 of the richest individuals in Pakistan. Because of his philanthropic initiatives, he is being dubbed as the Warren Buffett of Pakistan.Mr. Malik Riaz as an Entrepreneur

When it comes to entrepreneurship, Malik Riaz is one of the names that come to the minds of many. In fact, Entrepreneurship has itself found new meanings in the personality of Mr. Malik Riaz. He attributes his success to his hard work and faith in Allah. According to him, he sets aside 2.5% of the profits and disburses to the charity.

Mr. Malik Riaz possesses the following entrepreneurial traits:

Bold and Confident

No matter what it takes, Mr. Malik Riaz would always stand by his words. We have a practical example for this. Mr. Riaz wanted to make Bahria Town a trusted corporation and he has always been partnering with conglomerates like DHA and Starwood Resorts to enhance credibility.

A “never, never, never quit” Attitude

Riaz’s never-quit attitude is one of the most prominent reasons behind his success. When he began operation in Pakistan, he was forced to give up by political, economic and competitive forces. But then, he found his way in the interests of both the country and its politicians.

Devoted disproportionate time to the Business Riaz’s restless nature has contributed a lot to his success. He is always producing new ideas and providing ways for their practical implementation.

Always seeks Personal Satisfaction

Mr. Malik Riaz would always do things which he enjoys and once he’s finished, he achieves personal satisfaction. The whole Bahria Town project was no less than a dream to him and he has done his very best to realize it.

Manages Money Wisely

Although he has not taken formal accounting education, Riaz is too good with numbers. He keeps himself updated with the real estate market and manages his money in the most appropriate manner. For instance, when Riaz was about to launch Bahria Homes (8 Marla Houses), he asked all the Safari Home owners to sell their homes back to him at two times of the purchasing price. The owners did and he launched those Bahria and Safari Homes at five times of the original price. He is an expert when it comes to cash/money management.

Knows his Customers

Malik Riaz understands the psyche of Pakistani customers. He knows that the ultimate dream of a Pakistani national is to have a house of his own and his housing

Bahria Town’s Background

Bahria Town was established in the year 1996. The main objective was to build not only homes but several value-added, master planned commercial projects that would contribute to the economic development of the country. The chairman/CEO Mr. Malik Riaz got a contract to develop 2,388 kanals of Revenue Employees Cooperative Housing Society land. Although several controversies have affected the image of Bahria Town, yet it has been successful to maintain the impression of a luxury housing society.

Chairman's Message

  Bahria Town is the force turning the vision of Pakistan into reality. Bahria Town’s 20,000 direct employees are delivering iconic developments, driving leadership, pioneering innovation and creating a legacy for generations to come. Landmark buildings, thriving communities, market leading retail offerings and unprecedented investment opportunities. We are making a huge contribution to the improvement of people’s life and opportunities. Discover Bahria Town through the 6 Divisions based on Master Planned Communities, Education, Healthcare, Media, Recreation/Retail and Hospitality.The effects of our value system are far reaching. We have forever raised the standards of real estate development by giving awareness to the customer. The real estate sector has today been formally recognized as an Industry in Pakistan. Investment in over rupee 9 trillion across the past 2 years only in new housing initiatives has activated economy, provided over 100,000 jobs, sustained and developed dependent industries and attracted immense foreign exchange inflow from overseas Pakistanis. Bahria Town has established the national economy by motivating pure foreign investment in the real estate sector.We all owe this to our great people; a nation that has earned the reputation of an aware society that welcomes initiatives, values innovation and rewards quality. The same people make up the happening team at Bahria Town. From officer to senior management and field to the corporate office, every single member of our family is dedicated to live the promise that we have all sworn; continuous improvement in the quality of lifestyle however diverse and demanding!I would like to re-commit here that we shall continue to be the most innovative, pioneering, leading, value driven, choicest option for those who work for the cause, our employees and our customers alike.The world is looking at us today as the preferred investment destination. Lets us all be proud and keep ourselves ready to deliver consistently over and over again.I welcome you all to the Lifestyle Destination that we comprehend as Bahria Town. Malik Riaz Hussain Chairman

Vision

To build the future, we need ideas, the free flow of those ideas, and the effective use of human power and technology to shape those ideas into life changing ground

realities. Globalization makes all this ever more possible and easier, since the landmarks in luxury lifestyle around the world, that took centuries to be built and

perfected, are the priceless jewels of our inspiration.Yet, there is much more to be achieved, many novel ideas to be conceived, and a

great many horizons waiting to be discovered. Bahria Town looks forward to inspire the world more than it inspires us.

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Mission

Bahria Town aspires to be Pakistan’s greatest builder of all times, with projects offered to an eclectic mix of segments , at choice locations with world class

amenities, while ensuring the highest international standards, timely delivery, and lifelong customer satisfaction.

Early Days of Bahria Town

During its initial days, Bahria Town was no less than a paradise in the jungle. There were hills and mountains all around and people were quite hesitant to invest.

But then, with the passage of time and awareness provided through media, Bahria Town started to gain popularity with people. In fact, just as DHA, Bahria Town became of the most trusted housing societies of Pakistan. Although there is no exact count of employees available, it is said that Bahria Town emerged as one of the most leading conglomerates that brought employment to the country. At this point in time, Bahria Town has more than 21,000 employees in different parts of the world and is looking forward to hire some more for its further projects in Murree and Karachi.

Bahria Town – A Journey of Success

Bahria Town which began as a housing society in the year 1996 is working on a number of existing and potential housing and commercial projects. The company operates in three cities at present namely, Rawalpindi, Islamabad and Lahore and it is looking forward to expand in Murree and Karachi as well. During the course of its success, Bahria Town launched several housing, commercial and welfare projects. These include:

Safari Villas Safari Apartments Safari ValleyBahria Homes Meadows Executive LodgesBahria University ACE AcademyCommercial ZonesBahria Town Dastarkhwan and many others.

Some of the reasons behind Bahria Town’s success include:

Capable human resource. Exceptional security system ,Clean and healthy environment Strict rules and regulations for every person who resides or operates

business within the boundaries of Bahria Town CEO Malik Riaz’s honest efforts and maintenance programs. In addition to these strengths, Bahria Town has been involved in various affiliates Programs which contributed to its positive image and long-term success. At present, Bahria Town is partners with DHAI, OJMR (Los Angeles) and Starwood Hotels andResorts.

Welfare Projects

Providing daily free meals, twice a day, to more than 35,000 people throughout Pakistan under Bahria Town Dastarkhwan.

Thousands benefit from free medical treatment ranging from dialysis to open heart surgery, bone marrow transplant to general treatments in 3 large Bahria Town Trust hospitals.

Mobile dispensaries providing free medicines in rural areas.

Regular financial support to Al-Shifa Trust, Shaukat Khanum Memorial Trust, Sahara Trust, SOS Village and many more welfare organizations. 

Running centers for over 4,000 orphans with educational and lodging facilities.

Delivered thousands of Pakistan’s first low cost 5 marla houses of Rs 3.5 and 5 Lakhs only.

Conducted combined marriages of more than 4,500 couples.

Providing micro-finance loans to students in Rawalpindi Agricultural University.

Running various schools, institutes and colleges in different cities and villages with more than 7,000 students.

Always at the forefront in helping the nation in times of natural calamities & unfortunate incidents such

as the 2005 devastating earthquake, Margalla Tower & fire at the Marriott Hotel and Ghakhar Plaza

Rawalpindi. Also led many relief teams for the aid of IDP’s, which provided  financial, medical & food

assistance. Medical Camp established at Swabi has served over 30,000 patients already.

  We have strong faith in Pakistan and its future. We are proud to be a part of this great nation and are honored to contribute towards its economic and social development. We work relentlessly towards the development of a modern and progressive Pakistan and are thankful to our more than 200,000 members for their continued support and unparalleled confidence in the leadership of Bahria Town. 

Bahria Town HospitalitySheraton Hotels & ResortsSunset Blvd, Guest HousesSafari Guest Houses

Bahria   Town   Education

Provides an environment which is not only conducive to learning and character building, but where students are prepared for the responsibilities, opportunities and challenges of adulthood. Conscientiously designed schools and the finest team of educationistsACE International Academy  ( www.aceia.edu.pk )

Purpose Built Campus with 4 Storey Building giving modern facilities for educational programs and play grounds.

Pre-school to IGCSE and A-levels. Accredited Centre for Cambridge International Examination (CIE)

Board. Highly qualified and experienced faculty Accommodating over 800 students Fully Networked Classrooms State-of-the-art Athletic Facilities Knowledge Based Educational Programs Classrooms equipped with smart interactive boards Bahria University City

A purpose built campus with hostels, accommodation, administration block, restaurants, conference halls, community club etc.Schools in Bahria Town Lahore and RawalpindiPre-school to intermediate level educationAccredited by University of Cambridge International Examination for O/A Levels and Agha Khan Board Pakistan for Matriculation ExamsOver 800 students in Bahria Town Rawalpindi School and 400 in Bahria Town Lahore School Bahria   Town   Health Care

Complete Healthcare facilitiesHigh-quality, affordable and accessible care.Most modern and sophisticated equipmentRun by highly qualified medical specialists.Bahria Town Hospital Lahore & IslamabadFully operational hospitalsDepartments: Nephrology, ENT, Neurology, Pediatrics, Orthopedics, Dentistry, General surgery, Eye department, Cardiology, Gynecology, Dental surgery, Dermatology, 24 hours emergency care unit/trauma centre, 24/7 On call ambulance servicesServices & MaintenancePolice Station

Post OfficeEmergency Services (Fire Brigade, Mobile Health Units)Maintenance Services & Garbage Disposal

Bahria Town   Trust

Akhtar Ruksana Memorial Trust  Modern Healthcare Hospitals in Rawalpindi & LahoreMore than Rs.400 Million so far spent on welfare activities in different cities.At forefront during the recent devastating earthquake that struck our nation.Process of setting up a chain of hospitals in Pakistan.An established education trust fund.Coordinating with a number of organizations and institutes nationwideRegular medical campsBahria Town Dastarkhwan Located in Karachi, Lahore, Rawalpindi, Larkana.Providing free meals daily to the underprivileged people. Serving rotating menu weekly.

DastarkhwanTwo meals a day for the poor is a small contribution But, even small contributions can make a big difference. An unprecedented initiative providing FREE meals, twice a day, to more than 35,000 people throughout Pakistan. Opening 12 more Dastarkhwan in addition to 6 already operational outlets. Overall spending of PKR 30 million rupees on providing 10,500,000 meals annually. By the grace of god almighty we are providing free daily meals to more than 35,000 people daily, twice a day. We will Inshallah be opening 12 more Dastarkhwan in addition to 6 already operational.

Our Fight Against Hunger – This project is dearest to me. We are Alhamdulillah providing free daily meals to more than 35,000 people daily, twice a day. We will Inshallah be opening 12 more Dastarkhwan in addition to 6 already operational. I am very thankful to God

Almighty for having me privileged enough to be able to serve others.” Malik Riaz Hussain, Chairman Bahria Town. Above and beyond the contribution of Bahria Town in different sectors, now Bahria Town has come up with a new social project of Bahria Dastarkhwan to feed the underprivileged people, who are unable to get the basic food. Bahria Town Dastarkhwan is providing free meals, twice a day, daily to people. Its impact is not only felt by the poor who come and eat there but also by the families they have left behind who benefit from the hard earned money which they save on each free meal.

General Features

 Every person who attends Bahria Town Dastarkhwan is treated as a guest, so as not to hurt his integrity, and served with quality & hygienic food on tables in air-conditioned halls with separate arrangements for males & females. The doors are open for everyone. There is no restriction on people or quantity of food asked by each.

Food - Each Dastarkhwan has its own kitchen in its premises. Fresh food is prepared daily by the staff. Food is prepared in an hygienic manner. The menu keeps rotating with pulses & meat. Halwa as a dessert is also added on Sundays. During the Holy Month of Ramadan special iftar is also served.

Security- Special security arrangements are made to avoid any unpleasant incident. Walk through gates are installed. Male and female security personnel are deputed to check gents and ladies respectively. Fire brigade staff with vehicles and medical staff are also deputed.

Social and Financial Impact - Mostly lower income segment group comes for food at Dastarkhwan. Dining outside costs Rs. 35 per meal per person. At Dastarkhwan one can save almost Rs. 2,000 per month. It ultimately helps him/her to meet other living expenditures & also save and send more amounts back home. Moreover his/her integrity does not get tarnished.

Testimonials

 LT. General Sallah Ud Din, HI, HI (M), S Bt | Chief of the General Staff | General Headquarters RawalpindiOver the years Bahria Town has definitely emerged as kind of a model for modern community living in Pakistan. Your ingenuity and imagination has ushered in an era of modern housing in the country which will have positive effects on the people’s life style and has provided a concept for other organizations and companies in Pakistan to emulate.

I pray your set up helps in bringing positive changes in the life’s of the common Pakistanis to be able to afford quality living in secure and serene environment within their humble and limited means.I wish Bahria Town the very best of luck in bringing greater happiness in the lives of our country men and success in their projects.

Maj. Mansoor (Rawalpindi)Excellent! It’s a beautiful place to live. I really appreciate the work of Bahria Town. The whole Bahria Town is nothing more like a paradise. Col. Zahid Hussain (Rawalpindi)Brilliant Work! It’s such a wonderful place to live. The staff deputed here is very co-operative and professional. Security is exceptional. Dr. Zahoor Ahmed (Peshawar)I was really impressed from the designing and decorum of the house, especially the accommodation of facilities in 600 yards plot. Brig. Sajid RizviCreative designs with false ceilings and depression in the walls.The efforts to set these new trends in housing sector are highly appreciated 

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Mahmood Salim Mahmood | Secretary, Ministry of Women Development Your pioneering venture in building a world class community life in Pakistan continues to receive the applause of one and all. Kindly accept my personal compliments and best wishes for your glorious and unrelenting achievements in the years to come.

Muhammad Ijaz Ul Haq | Ministry of Religious Affairs, Zakat & Ushr, Government of Pakistan….it is indeed a matter of credit and pride for you and your colleagues to have excelled in the vital filed of urban housing. Please accept and convey my appreciation to your staff and associates for the continued hard work and quality services provided to public at large.

CM Khalid | Chief Executive | Shahnawaz textilesYou are a success story and need congratulations for setting new trend in quality and efficiency.

Brig. Hafeez Ahmed (Retd) SI | Managing Director | Utility Stores Corporation of PakistanIt is a source of pleasure to see your contribution in building housing facilities of high class with excellent environments.

Jehangir A Monnoo | Chairman | Monnoo Group of industries Indeed your company is a trend setter in the construction field of Pakistan. With its innovative way of construction and development, it has brought out such projects as have never been undertaken by anyone in the country. Due to this novelty and revolutionary approach, it has certainly earned good reputation not only for itself but also for Pakistan. No doubt all that entails your strong personal devotion and endeavors that you have made for the better living standards of our people.I would like to congratulate you on getting this hallmark for Pakistan and also pray for the further success of your projects underway.

Zahid Iqbal | PakRealEstateDuring my visit to Bahria Town, I personally witnessed all that has contributed to its unprecedented success and fame. It’s time we think out-of-the-box and bravely embrace the changing world. Real estate is not only selling plots; it’s also giving people the lifestyles they crave. In our country, real estate is turning corners for the better, and multinationals developers are coming in, bringing with them innovative concepts and totally new ideas. Bahria Town, being the pioneer in innovative development, offers immense opportunities for our success. Just pay a visit yourself and experience the unexplainable! I am grateful to Bahria Town’s management for introducing me to their exclusive world, and giving me a whole new way of thinking.

Syed Nasim Uddin | G.N. EstateFor a common man, Bahria Town is the only hope of ever getting a state-of-the-art

and convenient residence. Computerized file transfer system, modern planning, state-of-the-art amenities, and the overall vision, all make Bahria Town the ultimate residential society in Pakistan.

Zulfiqar Hussain | The AccommodatorsIt’s a lucrative opportunity for investment. Above that, Malik Riaz Hussain’s vision, the commitments of its management and staff, and the unmatched construction standards have totally changed my way of thinking.

Qamar Shah | Eagle Estate AgencyWorld class residential facilities, honest management and committed staff, make Bahria Town the best housing society in Pakistan.

Khurshid Azam | A.K. Real EstateThe modern Call Center and dedicated staff are the true drivers of Bahria Town’s success. Even the ownership transfer system and record keeping are exemplary.

Irfan Ullah | Awan House & EstateBahria Town is a totally exceptional backed by a unique vision. I can see no match for it in Karachi. One may find such exclusive projects in foreign countries, but seeing one right in my homeland is amazing.

Saleem Thobani | Sardinia EstateIt’s a pleasure to see such an outstanding housing society in Pakistan.

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