Growing up in an entrepreneurial family often leads people to measure success through business growth, financial results, or professional titles.

Akshay Kumar followed a different path. While his career has taken him through business development, finance, real estate, portfolio management, and entrepreneurship, the questions that have shaped him most have had little to do with business. Instead, they have centered on purpose, service, and what it means to build a life that creates lasting value for others.

“I don’t define success only by wealth, status, or external achievement,” Kumar says. “True success means discovering and stabilizing an inner sense of happiness, peace, and purpose.”

That perspective has influenced every stage of his career, from the lessons he learned growing up in Houston to the volunteer work that continues to shape his future.

How Family Shaped Akshay Kumar’s Leadership Philosophy

Kumar was raised in Houston, Texas, where his parents built a small business into a successful real estate company after immigrating to the United States. Watching them overcome obstacles through discipline and perseverance gave him an early appreciation for entrepreneurship, but another part of his family life would leave an even deeper impression.

His sister, Shipra Kumar, has a mental disability. Growing up alongside her exposed him to challenges that many people never experience firsthand and taught him lessons about compassion, patience, and resilience long before he entered the business world.

“My parents taught me resilience, determination, faith, and the importance of service,” he says. “Growing up with my sister taught me compassion and gave me a responsibility to help people who often don’t have the same opportunities.”

Those experiences became the foundation for both his personal values and his professional ambitions.

Why Business Became a Tool Instead of the Destination

Kumar earned his degree in Business Management from Penn State University, graduating with honors in 2015. Nearly a decade later, he completed his MBA at Rice University, also graduating with honors. His education strengthened his understanding of finance, leadership, strategy, and organizational management, but it also raised larger questions about how those skills should be used.

As his career expanded across business development, marketing, portfolio management, and operations in both the United States and India, he found himself thinking less about prestige and more about purpose.

“There was a time when I was searching for meaning more than success,” he says. “I realized that achievement without purpose doesn’t create lasting fulfillment.”

That search led him beyond traditional business thinking and toward philosophy and spirituality. Studying Eastern philosophy encouraged him to think differently about leadership, responsibility, and happiness. Instead of asking what he wanted to accomplish, he began asking why those accomplishments mattered.

The Connection Between Business and Volunteer Work

Many professionals separate their careers from their volunteer work. Kumar sees them as part of the same mission.

His experience in business taught him that strong systems produce consistent results. Over time, he began applying that same principle to philanthropy, believing that charitable work should focus on creating long-term solutions instead of temporary relief.

Much of his volunteer work has centered on nonprofit organizations in India that support people with disabilities, expand educational opportunities, empower women, and provide food and clothing to underserved communities.

“The most meaningful philanthropic work is not only about providing immediate relief,” he says. “It’s about building systems that can continue helping communities over time.”

Rather than viewing social impact as something that happens outside the workplace, Kumar believes business skills can strengthen nonprofit organizations, improve efficiency, and help charitable initiatives continue serving communities long after the initial effort.

Why Process Matters More Than Recognition

Throughout his career, Kumar has become less interested in measuring progress through titles or recognition and more interested in improving the process behind every goal.

His approach reflects the same discipline that guided his education and professional development. Instead of chasing immediate outcomes, he focuses on building habits, systems, and routines that create sustainable results.

“I believe in process over results,” he explains. “When the process becomes stronger, more disciplined, and more consistent, the outcomes eventually follow.”

That philosophy extends beyond business. It shapes the way he approaches volunteer work, personal growth, and leadership, reinforcing his belief that meaningful success is built gradually through consistent action rather than short-term achievement.

Looking Beyond Prestige

Today, Kumar continues to work across business development while remaining deeply involved in philanthropy, mentorship, and community service. He hopes to continue supporting organizations that create lasting opportunities for people facing difficult circumstances while encouraging others to think differently about success.

For him, professional achievement and service are not competing priorities. They are complementary goals that become more meaningful when pursued together.

“I want to dedicate my life to helping others, doing good deeds, and building something meaningful that can positively impact people beyond myself,” he says.

That mindset has become the defining theme of his career. Rather than pursuing prestige for its own sake, Kumar has focused on building a life where business success creates opportunities to serve others, proving that leadership is measured not only by what a person builds, but also by the difference they make along the way.

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Asset tracking is still too often treated as a back-office admin task, despite it being one of the most effective ways to improve efficiency, reduce waste, and protect margins.

Whether a business is managing vehicles, tools, equipment, IT devices, or stock, the ability to know where assets are and how they’re being used has a direct impact on performance. Without this visibility, businesses are more likely to waste time, overspend, and make decisions based on incomplete information. Effective Asset tracking provides businesses with better visibility into the location, condition, and usage of their valuable resources.

The hidden cost of poor visibility

Poor asset visibility can lead to problems, including:

• Missing items
• Overuse of some equipment
• Delayed maintenance
• Time wasted by staff searching for items that should be easy to find

Over time, these inefficiencies can become a significant financial drain. An accumulation of delays, replacements, unnecessary rentals, and administrative effort chips away at a company’s profitability. Asset tracking helps bring these hidden costs into view, giving leaders a better foundation for action.

Better control = better decisions

When businesses can clearly see their own assets, they’re in a stronger position to make smarter decisions. They can identify when equipment – be it laptops, tools or HGVSs – is being overused, underused, or left idle. This means they can plan maintenance more effectively, spend more strategically, and improve how they allocate these assets across teams or locations.

This is especially valuable for businesses operating across multiple sites or branches, or that have remote staff. In these environments, assets move frequently, and responsibility can become blurred. Tracking creates a clearer record of what’s available, where it’s gone, and who’s responsible for it.

Supporting growth without adding waste

As businesses grow, asset management becomes more complex. What once worked informally begins to break down when more people, locations, and processes are involved.

Without a strategic approach to asset tracking, businesses often end up compensating for poor visibility by buying more equipment than they need or holding excess stock “just in case”.

Asset tracking helps businesses scale more cleanly by making better use of what they already own. It also supports more accurate forecasting, as leaders will have a clearer picture of asset usage, lifecycle needs, and replacement planning.

What to look for in a fit-for-purpose solution

The right asset tracking solution for your business should match the scale, pace, and complexity of your organisation, rather than creating more admin.

Here’s what to look for:

• Real-time visibility: Business owners should look for a platform that offers real-time asset visibility, so location and status are always up to date. This is particularly important where assets move between sites or are used by different teams.
• Automated alerts: Geofencing, motion detection, and tamper notifications all ensure employees are informed quickly if an asset moves unexpectedly or is at risk.
• Clear reporting and analytics: Business leaders need more than a live map; they need real data they can use to inform strategic decisions. A good solution will provide clear reporting and analytics to help employees identify underused assets, support resource planning, and improve utilisation over time.
• Ease of use: If it’s complicated to record an asset or update its status, system adoption rates may be low. The right solution should be straightforward for teams to use consistently, whether they’re in the office, on site, or on the move. Mobile access, simple tagging, and centralised records all help reduce friction.
• Scalability: A system that works for 20 assets may not work for 200, so business owners should look for a solution that can grow with the organisation, support more users, and handle more data, without becoming cumbersome.

Sector spotlight: where asset tracking really earns its keep

The benefits of asset tracking become even clearer when you look at how poor visibility plays out in certain sectors. The impact is different in construction, equipment hire, and fleet operations, but the underlying problem is the same: without trustworthy asset data, it’s harder to protect time, budget and service.

Construction: controlling tools and on‑site equipment

Construction sites are busy, fluid environments. Tools, plant and smaller pieces of equipment move between areas and contractors throughout the day, making them particularly vulnerable to being misplaced or taken off-site.

Giving each item a clear digital record and movement history helps reduce these blind spots. Instead of manually checking stock levels or chasing kit by phone and email, managers can see what’s on site, what’s been moved, and what was not returned when expected.

Asset tracking can also support insurance and incident handling. Claims for stolen tools can be slow and difficult if there’s no proof of ownership or last known location. Location history and movement records provide stronger evidence, making it easier to demonstrate when and where an item was last seen.

In an industry where power tools and small plants are frequent targets for theft, visibility acts as both a deterrent and a recovery aid, helping keep projects on schedule and costs under control.

Equipment hire: protecting availability and revenue

Hire businesses rely on assets being out earning and then being returned on time. In reality, hired items are sometimes returned late, not returned at all, or moved between customer sites without the hire company’s knowledge. Each of those scenarios cuts into availability, utilisation, and revenue.

Asset tracking gives hire teams a near real‑time view of where their equipment is, whether it’s on hire, idle at a depot, or sitting at a customer site longer than expected. That makes it easier to follow up before returns slip, to spot assets that could be redeployed, and to maintain more accurate utilisation figures without constant manual audits.

It also strengthens the evidence base when there are disputes. If a customer claims equipment was returned or not used at a particular location, a clear location history helps resolve the issue quickly and fairly.

Over time, this kind of oversight reduces the risk of assets quietly disappearing and gives hire firms a practical way to locate and recover missing items.

Fleet management: covering the gaps in vehicle-only tracking

Fleet operations often focus on vehicle‑level telematics, but that doesn’t always provide the whole picture.

In some cases, vehicle trackers can be disabled, damaged, or removed by thieves, leaving transport teams without a clear view of where a stolen vehicle has gone. A discreet backup tracker elsewhere in the vehicle, or on associated assets, offers a second point of recovery if the primary unit is compromised.

There’s also the question of what happens to the high‑value items inside the vehicle. Tools, equipment, portable machinery and even cargo can all be removed from a van or lorry, at which point vehicle‑level tracking no longer helps. Tagging individual items or containers extends visibility beyond the vehicle itself, so operations teams can see where those assets end up and respond faster if they move without authorisation.

For lower‑value vehicles or trailers, simpler, lower‑cost asset tags can provide useful protection and operational data, without the significant cost. This combo of vehicle tracking and asset‑level insight gives fleet managers a more resilient way to keep track of what matters most, rather than relying on a single device per vehicle.

 A practical advantage, not just a technical one

The true value of asset tracking is operational. It helps businesses save time, improve accountability, and overcome obstacles that slow work down. For many organisations, this can translate into better customer service, improved staff productivity, and stronger margins.

It also supports compliance and audit readiness by creating more reliable records. When assets are properly tracked, businesses are better placed to demonstrate control, answer questions quickly, and reduce the risk of errors.

Why asset tracking should be a priority

Visibility is a strategic business advantage. Companies that know what they have and how it’s being used can operate with more confidence than those relying on spreadsheets, guesswork, or outdated records.

Asset tracking is not just about preventing loss; it’s about creating a more disciplined, efficient, and informed business. For organisations looking to protect profit while supporting growth, asset tracking is a priority worth taking seriously.

Shares of Thermax tumbled as much as 16% to an intraday low of Rs 3,567 on the BSE on Friday after the company reported an 86% year-on-year decline in net profit to Rs 22 crore for the first quarter of FY27. The sharp drop in earnings was largely due to a one-time project cost overrun of Rs 91 crore recognised in the Industrial Infra segment.

Despite the weak bottom line, revenue from operations rose 7% year on year to Rs 2,303 crore, compared with Rs 2,158 crore in the corresponding quarter of the previous fiscal, according to the company’s investor presentation.

The company’s earnings before interest, taxes, depreciation and amortisation (EBITDA) fell 69.08% year on year to Rs 69.5 crore from Rs 224.8 crore, missing Street estimates of Rs 219 crore by 68.26%. EBITDA margin contracted sharply to 3.02% from 10.42% a year ago and also fell short of Street expectations of 9%.

Order inflow increased 2% year on year to Rs 2,809 crore from Rs 2,748 crore, while the total order book stood at Rs 14,045 crore as of June 30, up 23% from a year earlier.

Thermax weak outlook

The company’s outlook also remained subdued. Thermax said performance in the Industrial Products segment was affected by higher input costs and lower export sales. Order booking and backlog in the Industrial Infra segment declined mainly due to weaker demand, while the ongoing conflict in West Asia continued to weigh on trade sentiment and regional capital expenditure, pointing to softer near-term demand in the Middle East.

The company also highlighted rising cost pressures during the quarter. Between April and June 2026, prices of flat and structural steel, tubes and pipes strengthened due to uneven demand-supply dynamics. Non-ferrous metal prices remained highly volatile amid global supply concerns and changing industrial demand, while movements in the U.S. dollar against the rupee further increased imported material costs and overall cost volatility.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

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The Morning Digest Email provides a comprehensive wrap of the major headlines, relevant to WA business, and includes with a snapshot of the overnight news covering oil, gold and ASX-listed companies.

The Afternoon Wrap Email focuses on the news covered by our team of journalists during the course of the working day, including exclusive stories and analysis, all of which relates to WA business and the local economy.

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Yes. Corporate subscriptions are available for teams and organisations, with discounted rates as user numbers increase. Pricing starts from $1,625 + GST per user.
Get in touch
to discuss the right option for your organisation.

Business News subscriptions are used by executives, investors, consultants and professionals who need to stay informed and make better decisions about the WA market. When you subscribe you’ll get

• Unlimited access to WA’s most trusted business journalism
• Data & Insights — detailed profiles of WA companies, people, projects and deals
• MyBN — a personalised feed based on the companies, people and sectors you follow
• Special publications and industry reports
• Daily and weekly email newsletters

Data & Insights is a research tool built specifically for the WA market. It draws on more than 30 years of Business News reporting, updated regularly to reflect what’s happening now. Use it to:

• Look up detailed profiles of WA companies, including financials, directors and ownership
• Find decision-makers and track their career movements
• Research live and completed projects across WA industries
• Monitor deals, appointments and market activity
• Access industry rankings and league tables

Data & Insights is updated daily by our dedicated research team, which uses the latest announcements, ASX filings and editorial coverage to keep our person, company, list and project records up to date.

Business News welcome all opportunities to make our dataset accurate, complete and current, so if you have an update request, please email the team at
general@businessnews.com.au, and we’d be happy to assist.

MyBN
is part of every subscription. It’s your personalised view of Business News. You can follow the companies, people, sectors and projects that matter to you, and get a news feed and alerts tailored to your interests. You can save articles to read later and retain only what you need.

Only subscribers have full access to all content on the Business News website.

If staying informed about the WA economy is part of your job, and/or you’re looking for networking opportunities in WA, Business News is built for you.

Business News subscribers are:

• Executives and directors tracking competitors, clients and market movements
• Investors and advisers researching companies, deals and industry trends
• Consultants and professionals staying across sectors relevant to their clients
• Business owners looking for leads, context and market intelligence

Most Business News publications cover national or global markets. Business News is focused entirely on Western Australia, which means the journalism, the data and the intelligence are all built around WA companies, people and projects — not adapted from a national feed. Data & Insights, included with every subscription, combines more than 30 years of WA-specific editorial research with live business data. There’s no comparable product for the WA market.

The Morning Digest Email provides a comprehensive wrap of the major headlines, relevant to WA business, and includes with a snapshot of the overnight news covering oil, gold and ASX-listed companies.

The Afternoon Wrap Email focuses on the news covered by our team of journalists during the course of the working day, including exclusive stories and analysis, all of which relates to WA business and the local economy.

The BN Weekender Email contains a wrap of the Business News from the week that was, highlighting the top stories in each area of WA business.
Sign up for free.

We’re happy to help.
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Rosalind Wright has had two children at Broomfield Hospital and said parking was already a “nightmare” without the cost increase.

She estimated she had about 10 appointments for scans, vaccinations and blood tests, and spent between £50 to £100 to park the car.

The 39-year-old described the 20 minutes of free parking “pointless”.

“I think you’d be hard-pressed to find anybody that ever got in and out of Broomfield Hospital in 30 minutes, so it always seems like a bit of a pointless kind of advertisement,” she said.

“Your appointment’s never on time… I typically would pay three hours for what would probably be a five-minute appointment,” she said.

Some people living nearby the hospitals rent out their driveways to visitors.

JustPark is one platform that provides this service and it told the BBC that 35 spaces were listed within 2km (1.24 miles) of Broomfield Hospital, including six within 500m.

The spaces cost a daily rate of £6.15 on average, compared with £4.52 average daily rate to park elsewhere in Chelmsford.

Natasha Kerrigan, the chief estates and infrastructure officer for the MSENFT, said it was the first increase in three years and some visitors would not have to pay for parking.

She added patients and visitors could also apply for a weekly parking concession ticket.

“[Including] patients receiving chemotherapy, people visiting patients at the end of their life, birthing partners, carers supporting patients with dementia and disabled parking for Blue Badge holders.

“We recognise that any increase in charges is unwelcome, but the costs associated with operating and maintaining our car parks have increased,” she said.

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WASHINGTON – President Donald Trump said Thursday that a deal has been reached for Hamas to disarm and Israel to withdraw its forces from Gaza, but many hurdles, conditions and long timelines remained to wind down the war in the Palestinian territory. Neither Hamas nor Israel gave immediate indication that they had agreed.

The White House announcement comes nine months after a U.S.-brokered ceasefire was signed. Negotiations between Israel and Hamas had largely deadlocked over the implementation of its second phase, including the disarmament of Hamas and the reconstruction of Gaza.

“The agreement will be carried out in carefully structured phases,” Trump said on social media. “As disarmament is completed, Israeli forces will withdraw, and the International Stabilization Force will work with a new Palestinian police force to take responsibility for Gaza being safe for its residents and its neighbors.”

Trump’s 20-point ceasefire plan calls on the Iran-backed militant group to surrender its weapons and destroy its vast network of tunnels. It also envisions Israeli forces withdrawing from Gaza, the arrival of a new technocratic Palestinian government, deployment of an international security force and the rebuilding of the battered Palestinian enclave after more than two years of war.

But Hamas had insisted on implementing the first phase before moving to discuss its weapons. The group’s founding charter calls for armed resistance against Israel, and it has been reluctant to give up an arsenal, including rockets, anti-tank missiles and explosives, that lies at the heart of its identity.

Hamas announced earlier this month that it had dissolved its government in Gaza and was preparing to transfer power to a technical committee backed by the United Nations as part of the ceasefire deal.
U.S. and Board of Peace officials, describing the deal to reporters on condition of anonymity under guidelines set by the White House, gave an extremely optimistic assessment of the agreement that laid out a scenario very similar to the one described by Trump and his top aides when the Board of Peace, an international body established by Trump to oversee the ceasefire in Gaza, was first formed.The officials were unable to offer specific timelines for the disarmament of Hamas or other groups that operate in Gaza such as Palestinian Islamic Jihad, but said the Gaza police force would turn over weapons to the technocratic Board of Peace-backed Gaza administration in the next two weeks.

The Gaza police force, however, does not include the vast majority of Hamas militants and heavy weaponry is not included in that part of the agreement, according to the officials.

Instead, the surrender of heavy weapons and the decommissioning of Hamas tunnels and other infrastructure are to come later in a process that could take between 200 and 350 days, a Board of Peace official said.

A U.S. official said that Israel, which has been deeply skeptical about Hamas’ willingness to give up its guns or relinquish at least behind-the-scenes control of Gaza, had been consulted at every step of the negotiation.

However, the official said Israel was not being asked to do anything more than what it had initially committed to when it agreed to Trump’s 20-point plan, which essentially involves withdrawing its forces from Gaza and committing to ending airstrikes on the territory.

Israel’s U.N. Mission said it had no immediate comment.

The official added that Hamas sponsor Iran remains a wildcard in the equation because although it counseled Hamas members not to accept a deal, it is also not in a position to offer the group much support because it is preoccupied with the conflict with the United States.

The war in Gaza began after the Hamas-led attack on southern Israel on Oct. 7, 2023, killed around 1,200 people and saw 251 taken hostage. Israel’s retaliatory offensive in Gaza has killed more than 73,000 Palestinians, including those killed since the ceasefire, Gaza’s Health Ministry said.

Israel’s military now controls more than half of Gaza, leaving Palestinians confined to squalid tent camps and heavily damaged urban neighborhoods.