Leaders at LUMS held its 8th session conducted by the LUMS Development Office on Friday, September 14, 2018. Students, members of administrative staff, faculty and external guests gathered to listen to Mr. Muhammad Farooq Naseem, the founding Chairman and CEO of the DWP Group.
Mr. Adeel Hashmi, the moderator of the talk, opened the discussion by asking Mr. Naseem the qualities of a successful entrepreneur to which the guest speaker replied, “Entrepreneurs have to be very brave people. They have to be stupidly optimistic.” Mr. Naseem believes that managing people and being able to develop a process where people are held accountable and can learn from their mistakes are key success factors for a progressive business.
Answering a question about frustration and how he would like to tackles problems, the guest speaker said, “Frustration is perhaps the wrong word. You have to deal with negative forces or influences. Frustration means you have given up. So, frustration is out of the question.” He further elaborated that business is about managing your failures, rethinking your strengths and weaknesses, and assessing your competitive advantage.
Talking about opportunities for a growing economy like Pakistan, Mr. Naseem seemed very optimistic about prospects of growth for the country. He expressed his opinion about the upward trend in the cost of production of China, and how it can make Pakistan a very competitive and viable market for international buyers.
Talking about the China Pakistan Economic Corridor (CPEC), Mr. Naseem commented on investing in infrastructure and the development of export processing zones. He further talked about trade with China, joint ventures and technology transfers. He expressed how such measures would boost local production, create employment opportunities and promote an entrepreneurial mindset in Pakistan.
Mr. Naseem further commented on the CSR Programme of the DWP Group and expressed that education needs to be focused on to maximise social impact. He praised LUMS and its National Outreach Programme and called it a pursuit for excellence.
Vice Chancellor LUMS, Dr. Arshad Ahmad expressed gratitude to Mr. Naseem and invited him to collaborate with LUMS in sharing ideas and knowledge with the people.
The session ended with the Vice Chancellor presenting a commemorative shield to the guest speaker.