Global Leader Insights: William Bissell, Chairman

Filter Results

Topics

Audience

Industry

Year

Insights From Global Leaders: William Bissell, Chairman – Fabindia

9 Jul 2020
- admin
“The companies which last for a long time are the ones which have a good purpose”

Focussing on just the bottom line is not at all a good purpose – This is the principle on which Mr. William Bissell works and everyone can see that being reflected in the success of Fabindia.

Fabindia was started as an export company by Mr. Bissell’s father. When William had to take over the responsibility to run the company, he took an initiative that no other had thought of. He made a proposal to the weavers (craftsmen) who worked for the organisation, to become the shareholders of his company. He held and continues to hold the strong belief that these artisans (tribals) look after the ecological well-being of the country and we owe a lot to them. In his view, they are the protectors and preservers of mother nature. And hence, his purpose in life is to take care of his partners and ensure the well-being of all.

When Sh/ Anil Sachdev asked him to recollect the best memory he had, William shared that he founded a school in his company’s name. The gesture itself tells us that a person with such a kind and generous approach towards people and the society has a purpose which is dedicated towards the well-being and growth of the society.

When in late 1990s, the company was making a shift from the export industry to becoming an Indian retail organisation, Mr. Bissell faced criticism for his decision. It was suggested to him to not explore the route of emerging as an Indian brand, rather try to imitate some popular foreign brands, but he had a different vision and his own theory – The theory of Three Rs.

Reflect, Reimagine and Reinvent.

He believed that change should be in a way that excites the customers and the society. He followed his theory and broke the stereotype of being an imitation of some foreign well-established brands. Fabindia emerged as a brand which connected Indians to India. The success of this vision is very well visible to the world today. Similarly, when he faced huge challenges from the online marketplace, he stood up and made arrangements to do what the online world would not be able to do. Along with his team, he created exciting experiential centers where customers could walk-in and experience in person the touch and feel of the merchandise in a better manner. He taught us that his fundamentals are simple, leaders should have the ability to listen to the ever-changing needs of their customer, understand the same and take decisive action. He also enlightened us when he said that true leaders must also admit when they do not know something as it is an opportunity for them to grow. If this is followed by people then things would be much easier for them to do.

Regarding the current COVID crisis, William stated a famous quote by Vladimir Lenin –

“There are decades where nothing happens; and there are weeks where decades happen.”

He says that these are the days where decades are happening at once. The crisis has made us realize that we all are one i.e. Humankind. We must all face common challenges and we can fight them together.

At the organizational level, he told us what he felt the company should be doing 2-3 years down the line. It would be time to re-invent oneself – the situation may become normal but it won’t be the same as before. Even post the pandemic, people will be more aware of the risks and would be more careful and sensitive towards issues like sanity, cleanliness and social distancing. He says that he applies the teachings of Nelson Mandela – The days are all the same, we need to structure them and put things into action.

Mr. Bissell said that in days like these, Leaders should put aside their baggage and their experiences, rather they should sit back and start thinking of solutions with a fresh mind. Being in the present reality helps one to reinvent and focus on the current situation and the possible solutions, else you can miss the bus and get stuck.

——-

William Bissell is the Chairman of Fabindia, India’s largest private platform for products that are made from traditional techniques, skills and hand-based processes. Over the past three decades, Mr. Bissell has grown Fabindia from just two retail locations in Delhi to over 117 stores.

He graduated from Wesleyan University in the United States.

——-

About the Webinar Series: SOIL Founder & Chairman, Sh. Anil Sachdev gets into insightful conversations with Global Leaders every Thursday, 6:30 PM – 7:30 PM (IST). Every session will focus on:

-Insights from global leaders on how to become the best version of yourself

-How to leverage your unique talents and strengths to contribute your best to society & your work

——-

Key Takeaways & Learning by:

Tanay Tripathi

PGPM – Business Leadership, Batch of 2021

PGDM vs MBA: Understanding the Key Differences to Make the Right Choice Founder & Chairman Mr. Anil Sachdev Learnings and Importance of Theatre

Post Graduate Program in Management (PGPM)

Post Graduate Program Management - Human Resources (PGPM-HR)

Post Graduate Diploma in Management (PGDM)

Post Graduate Program in Management (PGPM)

Post Graduate Program Management - Human Resources (PGPM-HR)

Post Graduate Diploma in Management (PGDM)

Posts By

Topics

Audience

Industry

Year

Never miss a beat. Get Blog updates regularly in your inbox