S&T’s strong foundation is now proving to be complimentary in running different aspects of the Group business and has given a competitive edge to grow the company beyond local borders, Waqas Al Adawi, Vice-Chairman, tells Oommen John in an interview
Your roles and responsibilities at Services and Trade Co (S&T)?
As the vice chairman of S&T Group, one of the largest contracting companies headquartered in Oman, my key role is to navigate and understand the industry environment and its challenges. Amidst this backdrop, my aim is to drive a sustainable business by finding ways to deliver value to our customers. In particular, I focus on:
- Business development
- Policies
- HR implementation and general overview
- Client relationship management
- Growth opportunities
- Identifying synergies between the various contracting businesses and corporate group companies
- Emphasising the vision and values of the company
Is there an induction process to bring the next generation of family members into the business?
We are the second generation, running the family businesses which is evolving and taking new dimensions in the modern business era. It is, therefore, a very personal process on how we develop the system to involve future generations and integrate them into the business.
We have been blessed with the vision of our parents who ensured that we all receive a world class education and international exposure in different fields and sectors. This foundation is now proving to be complimentary in running different aspects of the Group business and has given us a competitive edge to grow the business beyond local borders.
As we grow, we have an exciting challenge ahead of us to institutionalise this “natural professional bond” into a robust induction process that will take the business far beyond our current generation.
A succession journey of this sort needs time, patience and diligence which will surely see S&T soar to new heights and across multiple generations!
As an entrepreneur, what were the challenges that you faced in running the business?
The biggest challenge was initially learning the nuts and bolts of a three-decade business with a renowned brand and demonstrating to all the key stakeholders the respect and dedication I had as a second generation leader, to be for what has been built to date and then use those values to successfully introduce the changes to fuel growth and elevate the group to next level.
Have you been able to bring in certain changes to the way the business is run and was it difficult to convince the board of directors about the rationale of such steps?
Yes, I have been very fortunate to have unconditional support of the family (board of directors) to induce new ideas and approaches that I believed were necessary changes for the healthy growth, sustainability and creating a higher performance culture. I found that as long as the end goals and objectives were in focus, the process to get there was one of positive and supportive dialogue.
I would like to mention that any change would not have been possible without the unwavering support of my management team. I am fortunate to be surrounded by such self-motivated leaders.
Your advice to young Omani entrepreneurs, who are keen to set up business?
Being an entrepreneur is exciting and challenging. My mantra for future entrepreneurs is – “There are no shortcuts to hard work”. A few caveats to follow:
- Dont be afraid of failures, it is part of the journey to achieving success
- Attention to detail
- Use every opportunity to learn and gain knowledge
- Being aggressive with a go-getter attitude will always differentiate you from the pack
- Be passionate about what you do; and you will naturally do it better than others
- Compete with yourself
- Surround yourself with smart, hardworking and like-minded people.
