In today’s rapidly changing business landscape, strong leadership and innovative strategies are more important than ever. Global CEO Magazine recently had the pleasure of speaking with Mr A.J. Farshath, an inspiring leader who wears many hats as the CEO of BIMT Campus, Managing Director of Next Education Consultancy, and Country Director for the Institute of Financial Accountants.
In this exclusive interview, Farshath shares his insights on the role of leadership in overcoming challenges, the remarkable growth of BIMT Campus since its inception in 2017, and how his team is shaping future leaders equipped to face global challenges. From his thoughts on the intersection of Artificial Intelligence and accountancy to the importance of empowering small and medium enterprises, Farshath offers a wealth of knowledge for current and aspiring business leaders alike.
Join us as we explore his journey, the vision behind BIMT’s success, and the strategies that have led to him being recognised as a thought leader in the field of education and corporate training.
Q: Let’s begin by discussing leadership, particularly its importance in navigating an organisation through disruptive times. What, in your view, is the most critical aspect of leadership in such situations?
A.J. Farshath: Leadership during a time of disruption is all about balancing the art and science of managing people. Emotional intelligence, creativity, and strategic planning are essential components. A leader must possess both creativity and emotional awareness while making data-driven decisions. Confidence is key, not just for the leader but for the team as well. It’s the leader’s responsibility to instil this confidence, bringing everyone together to face the challenges.
Effective communication is absolutely crucial. In times of crisis, a leader needs to educate the team about the nature of the problem and ensure everyone understands what is happening and how to handle it. Clear direction is vital; a failure to provide this can lead to the failure of the organisation itself. Leaders must ensure that the entire team works actively towards a common goal. It’s not about carrying passengers, but making sure every member is contributing.
Uncertainty is an inherent part of business, and no success comes without dealing with uncertainty. As leaders, we must prepare ourselves both mentally and physically to handle such challenges. Ultimately, effective leadership is a combination of the art of guiding people and the science of strategic decision-making. It’s about sacrifice and commitment, which are necessary to navigate any form of disruption successfully.
Q: Since the inception of BIMT Campus in 2017, it has grown considerably. Can you provide an overview of this journey and what the future holds for BIMT?
A.J. Farshath: The journey of BIMT Campus has been very rewarding. Coming from a background in lecturing on subjects such as economics, business management, and financial accounting, I reached a point where I wanted to establish an institute that reflected my vision. BIMT started with just nine students, and today we have graduated over a thousand students.
My primary aim has always been to develop students who can tackle global challenges and contribute to the nation’s development. We’ve made it our mission to provide our students with the leadership skills necessary to succeed in the corporate world. In the future, we aim to continue growing by developing programmes that educate our students on global changes and equip them with the skills to overcome emerging challenges.
Q: BIMT offers a diverse range of programmes, but one standout is the Management Skills Development Programme offered by the Chartered Management Institute. Could you provide an overview of this programme?
A.J. Farshath: The Management Skills Development Programme is a unique offering designed to empower the owners of Small and Medium Enterprises (SMEs). We recognised that SMEs play a crucial role in the economy, and by enhancing leadership within these enterprises, we can address many economic challenges.
The programme consists of four main modules. The first focuses on leadership in organisations, covering essential skills like organisational leadership, leadership mindset, problem-solving, and decision-making. The second module addresses managing people, with units on understanding human behaviour and conflict management. The third module focuses on personal development strategies, including personal branding and negotiation skills. Finally, the fourth module is about financial discipline and managing stakeholders. This programme provides a comprehensive solution for SMEs, helping their leaders grow and navigate the challenges they face.
Q: You’ve spoken about developing the intellectual capabilities of your students. What specific initiatives have you implemented at BIMT to foster leadership and critical thinking among students? Also, what are your thoughts on Artificial Intelligence (AI) in accountancy?
A.J. Farshath: At BIMT, we focus heavily on real-world applications of theory, rather than just discussing concepts.
We organise workshops featuring prominent CEOs and CFOs to share their experiences with our students, which help them develop critical thinking and gain the confidence to tackle business challenges.
We are continually refining these strategies to improve our students’ ability to apply their knowledge practically.
Regarding AI in accountancy, while AI is making significant strides, I believe the accounting profession will not be fully replaced by it. AI will certainly evolve the profession, but accountants will still play a crucial role.
The future of accounting lies in becoming a ‘techno-accountant,’ combining technical skills with AI. Students need to be well-versed in AI tools and technologies, which will help them stay relevant and effective in the industry.
Q: BIMT has won several prestigious awards, including the National Business Excellence Awards in 2024. What do these accolades mean for BIMT, and how do they reflect the growth since 2017?
A.J. Farshath: Awards and recognitions, particularly from respected organisations like the National Chamber of Commerce, are a testament to the hard work of the BIMT team. These accolades reflect the standards we uphold in running our institution and our dedication to supporting our students and community.
It’s not just a recognition for one year, but an acknowledgment of the consistent effort and performance over the years. I must give credit to our team, especially Dr. Dabare, Ms Wasala, and Mr Afsal, who have worked tirelessly to achieve this recognition. We will continue striving for excellence in the years to come.
