As Mona Yousif Almoayyed discovered, a word of wisdom from the right person at the right moment may transform your life forever. She aspired to be a social worker, but with her father’s advice, she changed her mind and became a great fit in every capacity as an entrepreneur, philanthropist, environmentalist, and Women’s Rights fighter. Mona is now one of the most well-known figures in the Middle East, having received numerous awards for her outstanding achievements. Mona Yousif Almoayyed embodies the attributes of a true leader and humanitarian, having been elected by His Majesty the King of Bahrain to be a member of the Shura Council, the country’s highest legislative council. In this amazing read, we are honoured to give a few insights into her remarkable journey.
What were the Initial Challenges you faced?
Women rising above basic positions like operator and accountant and assuming the lead was uncommon in the 1970s. When surrounded by positive individuals who believe in your potential, though, you can achieve the seemingly impossible. Mona’s family was impressed with her abilities and offered her a job. But, because Mona was still caring for her children, this was not an easy assignment. It was difficult to switch between the two. “I recall missing some key business meetings during that time, but my father and family were quite understanding, and they understood that as a woman, I have additional responsibilities,” she says. Mona found it easy to put in extra work to build the business after her children were old enough to care for themselves. When others regard you as a dedicated and diligent person, you get noticed, and Mona had the right combination of the two.
Mona recalls her biggest business problem as trying to compete with guys. She had to work hard to earn the trust of the vehicle division’s customers and employees. There are many barriers and setbacks in business; it is not always a smooth trip. When a business segment is losing money, it is sometimes necessary to be tough and close it. To summarise, making such a critical decision that affects others can be difficult at times. Mona, on the other hand, was determined to give it her all in order to propel the company to new heights, and she was successful in accomplishing her goal despite the challenges she faced.
Tell us about yourself
Y.K. Almoayyed & Sonswas founded in 1940 by Y K Almoayyed, who opened his first business on Tijjar Road. What began as a one-man trading operation in Manana’s main market has grown into a multi-faceted enterprise. Nissan, Infiniti, Ford, Renault, Toshiba, Sony, Bose, and Kodak are just a handful of
the famous multinational brands represented by the corporation today. Yousuf Khalil Almoayyed & Sons has lofty goals and continues to prosper and expand from strength to strength. Mona’s father was deeply involved in all elements of the firm from the beginning, when he created his leading trades in the 1940s, until his death in 1996; he inspired and managed its steady growth. Mona and her siblings acquired their father’s economic acumen and entrepreneurial skills, as well as a knack for steady, hard labour and a desire for commercial success, after that. Y.K. Almoayyed & Sons Group is now a multi-faceted and complex mercantile and service company. As the firm’s directors, they make sure that everyone is working hard to adapt to the needs and difficulties of the twenty-first century, allowing the company to grow with commercial vision and integrity. In recent years, the company has accomplished much of what their father desired, and they are happy to have established this amazing organisation at the pinnacle of everything they have strive for.
Before She Began her Success Journey
Mona was born in Bahrain, and her home was on the same property as their current office. They were a family of seven children who led a simple and happy existence. Mona has a lot of fond childhood memories. Her mother was the ideal homemaker, and her home was warm and inviting. She cooked, sewed their clothes, and looked after her children admirably. Her father was quite busy with his profession, but he was also very loving and thoughtful of her. She recalls, “My best childhood recollections were when my father took us to Lebanon on vacation in 1957, which was my first journey overseas.”
Mona attended a government school in Bahrain for her education. There was no such thing as a private school back then. All of the children attended free government schools. Mona benefited much from this because she met Bahrainis of all classes and sects, some of whom she now maintains a wonderful relationship with. Mona’s father insisted that once she finished secondary school, she complete her education in England because there were no universities in Bahrain at the time. She was fortunate to be able to attend boarding school in England on her own because it provided her with yet another opportunity to meet new people of other ethnicities. She earned a bachelor’s degree in business administration in 1974.
Mona joined the family firm of Y.K. Almoayyed & Sons in 1974 as part of the furniture division after graduation. Her regular visits to furniture shows in Europe and the United States allowed her to improve the company’s furniture assortment. Mona was introduced to the automobile industry in the early 1990s. Mona became the Managing Director of the company after her father died, which was a watershed moment in her life.
Excelling in Every Field
Mona is the Managing Director of the company, and she is in control of all parts of the business. The executive committee of the corporation meets once a week, and each management reports to the committee, which makes decisions. They also have an audit committee that does a good job of examining all risk concerns as well as strategies to improve and close corruption loopholes. Employees are managed by the company’s HR committee, which uses a performance management system to motivate and advance them in their roles. The quality assurance committee oversees the entire process.
While balancing her various professional tasks, she has the most important responsibility to attend to: her personal life. “We must learn to strike a balance between our personal and professional responsibilities as women. It was never easy, particularly when my children were younger. We compete against men who have no responsibilities to their families. Finding a balance isn’t as difficult now that my children are older. “I spend the majority of my time at work with a few social responsibilities,” she claims.
Mona has received a number of awards for her dedication and effort. In addition to being elected to the Shura Council, Mona was awarded the French Legion of Honor in 2013 and was one of the first women to join the Bahrain Chamber of Commerce in 2001.
Leading the Team with a Vision
As the business enters its third generation, it is being organised to be run by professional management with policies and procedures. Family members are only allowed to serve on the board of directors. They’ve hired a consultant to meet with all members of the second and third generations, develop corporate governance guidelines, and evaluate the family constitution. The biggest problem they have is preserving the family business for future generations.
They are continuing to grow their business in Bahrain across a variety of areas and are currently focusing on consolidation. The business has implemented a number of initiatives to improve efficiency. Because a number of staff have retired in recent years, they are now working with fewer people and are more efficient. This is one technique to improve the business with the goal of launching new projects in the next years.
The goal of the company is to inspire more Bahrainis to join so that they can all flourish and grow together. Through their training programme, Y. K. Almoayyed & Sons has been lucky in finding some excellent young Bahraini nationals who will bring value in the future. Female rights are promoted, and employment promotions are made regardless of background or gender. Management maintains regular contact with employees at all levels. The modern
Kingdom of Bahrain has made steady growth, and it appears that the country will continue to be the Gulf’s financial centre. Bahrain’s government welcomes foreign investment, and as a result, the country’s international trade is growing.
The company’s major advantage is that it is a multi-faceted organisation having interests in vehicles, construction, cement mixing, retail, and electronics. If one sector does not perform well one year, another will compensate. In terms of new projects, they have developed several workshops in various parts of Bahrain to make it more convenient for consumers to service their cars in their town, as they are in a competitive market.
Finally, Mona feels that it is their responsibility as business owners to look after their staff, and that the employees will look after their customers. Customers will be satisfied if the employee is happy.
Mona characterises herself as introverted and sensitive by nature, driven by success and satisfaction rather than profit. Her perseverance has paved the route for her success, and she has encouraged many other aspiring women to take the lead in various sectors. She was unafraid to stand up for what she believed in, even when the odds were stacked against her, and she left an indelible imprint in every field she entered. We are confident that her innovative business methods will continue to inspire and drive the next generation.
Details of the company:
Year of Founding: 1940
Funding Information: Privately held
Founding Members: Yousuf Khalil Almoayyed
Office Locations: Bahrain, Manama
Company Strength: 250+
Source & Reference : Y.K. Almoayyed & Sons
Story by: Swiftnlift Business Magazine