Think Stoicism, and make your business stand out

In this week’s Success: The Insight Story, Aurelius Healthcare managing director & deputy chairman Datuk Amir Firdaus Abdullah (pix) shares his ‘prescription’ with SunBiz.

How has your life expertise made you the chief you’re right now?

Growing up, my late father usually spent weekends educating us lateral considering abilities and introducing us to Stoicism philosophies – teachings that included these of Marcus Aurelius which stay with me till today. These youth of my life have influenced who I used to be, who I’m, and who I’ll proceed to be sooner or later.

I’ve had greater than 25 years of expertise at hospital administration, and previous to founding Aurelius Healthcare, I headed VPS Healthcare – a multinational healthcare group based mostly in Abu Dhabi. It was a cosmopolitan office with staff of various races and nationalities, and so it was necessary that we had a congealing tradition that enabled us to work harmoniously. That’s after I began occupied with incorporating Stoicism’s ideas in creating an intentional tradition throughout the organisation, to assist us direct our ideas and actions in an unpredictable world.

When I got here again to Malaysia, I based Aurelius Healthcare, which is constructed on the identical elementary values. Our motto – To Breathe, To Think, To Care, To Love – was created based mostly on Marcus Aurelius’ philosophies, which function a reminder that it’s a privilege to be effectively and alive.

What do you wish to accomplish within the subsequent 5 years?

Aurelius Healthcare has formidable plans to speed up its progress within the subsequent few years, and I hope to proceed contributing to that.

Last 12 months, we acquired the 20-year-old Nilai Medical Center, which now we have rebranded as Aurelius Hospital Nilai. We expanded the scientific companies on the hospital and the mattress capability shall be elevated from 100 to 150. We’re additionally steadily progressing with our plans to determine our presence in Kedah with the continuing development of Aurelius Hospital Alor Star, which is anticipated to start operations within the second or third quarter of 2023.

This is barely the start of our progress as we’re actively in dialogue for an additional 4 to 5 alternatives and will search to increase our pipeline quickly.

How do you assume the trade you’re in will evolve?

Iin Malaysia, personal healthcare is in a spot of regular progress, primarily because of the insurance coverage trade’s penetration into our Malaysian inhabitants. The rising demand for healthcare companies from the “silver-haired tsunami”, the rising affluence, in addition to the rising life expectancy of Malaysians have additionally offered a major progress tangent for the personal healthcare sector, which is required to enhance the general public sector hospitals.

For Southeast Asia and different areas, we see an identical burgeoning development of the personal healthcare market within the coming years, together with an increase in specialty care hospitals. Hence, I consider that the medical tourism trade will proceed to flourish within the international locations which might be in a position to present these extremely sought-after medical care and therapies.

How do you count on insurance policies on local weather change to influence companies sooner or later?

While it could not influence the healthcare trade instantly, we have to be ready and be adaptive to the ESG values imbibed throughout the organisation’s cloth. At Aurelius Healthcare, we consider that now we have the duty to construct greener hospitals for the sake of environmental sustainability. Some of our efforts embrace implementing environment friendly vitality utilization and renewable vitality in our amenities, waste administration and so forth.

What traits do you search for in your expertise or how do you determine who is correct for a job?

Having the core competencies to execute the job is necessary, however so is having the best perspective.

I consider that cultural capital is the brand new frontier of aggressive benefit, and in healthcare, our folks play an necessary function in delivering differentiated service high quality. Hence, it’s necessary to construct and preserve the best collective tradition for teamwork, and that begins with hiring for cultural match. From a business perspective, assessing skills on this method additionally brings greater sustainability to the organisation.

What recommendation are you able to provide these trying to begin their very own business?

The most blatant side is to develop the core competencies based mostly in the marketplace you propose to enterprise into. Secondly, on how the expansion tangent can happen in your business. Thirdly, you will need to perceive the basics and drivers together with regulatory frameworks inside a selected trade.

Finally, your business ought to have a robust sense of differentiation, or a hook – one thing that separates your business from others, particularly in a aggressive panorama. By having that differentiation, you possess the flexibility to create a nascent presence out there, then that’s the place alternatives so that you can develop your market share are available in.

How has mentorship made a distinction in your skilled life?

I had a mentor who taught me intensive information about administration and the qualities of a real chief. He was a retired British military officer and has been a real buddy to me. Dave Hurren, whom I met whereas in Brunei, left an indelible presence on me, relating to information and qualities a real chief should possess.

To today, I nonetheless carry his steerage and they categorical themselves in my every day interactions of working with folks and fostering heat environments for creating sturdy teamwork.

Best piece of recommendation you ever acquired on your profession.

“If you inform the reality, you wouldn’t have to fret or bear in mind what you have got stated.” It’s tailored from a Mark Twain quote that was stated to me years in the past, and I nonetheless bear in mind it right now. Honesty and integrity are necessary qualities that assist create loyalty not simply amongst your clients, however your groups, too.

Most-admired business chief? Why?

Richard Branson. I like his capacity to have created numerous manufacturers throughout totally different industries. By having a bit little bit of quirkiness in his method of business, he is ready to retain public pursuits in these manufacturers. That’s extremely engaging from a business standpoint for what he has achieved.

A must-read for each business proprietor/supervisor is …

Blue Ocean Strategy by Renée Mauborgne and W Chan Kim – it’s a must-read for visionaries and innovators who plan on gaining uncontested market house.

It’s one thing that we at Aurelius Healthcare are setting out to do, too, as we’re constructing our business and increasing our presence in not simply underserved markets like in Nilai and Alor Star, but in addition in first-tier cities like Kuala Lumpur and Penang from the attitude of carving out specialty-based care that we are able to present at world healthcare requirements.

What are the highest three elements you’ll attribute your success to?

My mother and father, who taught me values, drive, and being joyful; my household, who I can depend on at all times for love and help; and my workforce, who along with me, share my imaginative and prescient for Aurelius Healthcare and help to realize a lot of it, on daily basis. I suppose I’m a fortunate boy!

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