The main objective of this report is to gain a practical knowledge of management of an organization.
1.3 Scope of the Report
The report will be concentrating on a distinct organization on the basis of the concept we have got from our study of Principles of Management. We also take help from other sources. It will not contain in-depth study from any other source accept some books and interview of some manager of Square Pharmaceuticals Ltd.
•The entire report was dependent solely on secondary data, taken from the annual report of Square Pharmaceuticals Ltd. and books. •Some primary data were obtained by interview.
The limitations to produce this report are as follows:-
•The accuracy of the report depends upon the accuracy of the information furnished by our text book and from annual report of Square Pharmaceuticals Ltd. as well. •Inadequate knowledge in studying reports.
•Lack of in-depth understanding of certain terms and concepts prevented us from going into details. •Lacks of research.
•Time limitation is also been there.
2.0 Profile of Square
Square is one of the leading private limited company of our country. It is also doing some sort of business out side the country as well.
3.0 Organogram of Square
4.0 Organizational Goals
5.0 Organizational Plans
6.0 Barriers towards Goals
We all know it that Square is one of the leading private limited company in our country. They are not only doing their business in our country. They also do export their medicines in some African countries. Though they are very much stable in their position, but, they have to face some barriers to set goals. Major barriers are:
This is major and most complicated hazards for all types of business in our country are the uncertainty of the politics. Our culture of politics is totally polluted by different occurrence. Professionalism towards money makes our politics dark. So, it is one of the major barriers for the business organization. Because, if any organization goes for plan even for few years, they don’t feel secure. That’s why no foreign investors show any interest to invest in our local market.
After a certain time there won’t be any boundary for the business organization to do their business. Because, globalization is going to be
happened very fast. For this, the business organizations have to face more competition and that’s why the environment is changing very fast. It’s difficult for any company which usually does business in their local market to cope up with this huge change.
•Lack in Resources Deployment
We all know it that the resource is limited, but, the want is unlimited. But, we have to have the proper idea about the availability of resource. Those resources have to be deployed properly. But, most of the time the resources are not proportionate with the plan done by the organization. Ultimately, they found themselves in vain.
With the time new competitors are coming up with their business. It’s one of the barriers. Because, when an organization does plan then they usually do it for 2-3 years. So, when they see that new competitors are coming in this business then they need to change their strategy which may have an effect on their planning.
7.0 Way to Overcome Barriers
•Motivated Work Force
Most of the time the people who are working in the organization even doesn’t know their goals and what their organization actually wants from them. So, organization should make its employees to work for them and let them know the mission of their organization.
•Good Relation with the Employees
We know that top level management of the organization usually set the organization’s goals and mission. But, after setting the goals usually they mat have not any negotiation with the other employees. But, they should always do this for the betterment of the organization and through this good relation they can motivate their employees.
• Foresight Power
To achieve a certain goal, an organization may have different strategy. They need to depend on the time and environment. They basically do plan for 2-3 years and can be more then that. So, if the organization doesn’t have any forecasting power then it’s not possible for them to set any appropriate goal.
• Time to Time Monitoring
After setting the goals the organization should monitor the overall performance and they also should revise the total strategy.
8.0 SWOT Analysis
8.1 SWOT Analysis- Strength
8.2 SWOT Analysis- Weakness
Some time they offer some products which are costly. Like Amcofin-5 (Tk. 3) produced by Incepta- A very new pharmaceuticals company Amcofin-5 (Tk. 3.50) produced by ACME
Amcofin-5 (Tk. 4) produced by Square
So, here we can see that they are not using the cost effective way to manufactures drugs. By a very limited survey, we got to know that they a problem with the employee which is employee turnover. They are facing this problem for quite a long time. So, now it’s turned into a weakness for them. They have got any big success in this field. They have a little problem with their distribution in the urban area. In the urban area they need a bit more time to supply their drugs.
8.3 SWOT Analysis- Opportunities
Square pharmaceuticals can easily expand their market in some other third world country. Though they are exporting their product in international market, but, that’s not in a high percentage of market. In the domestic region, they can make their current position more strong by offering more value to their customer. We have a vast population and we are always suffering from different types of diseases every time and all over the country. So, it’s a great opportunity to increase the market share through sales. They can produce international standard drugs through their new plant they established few months ago.
We all know Square is one of the leading pharmaceuticals industries in our country. But, after all of this qualities or leadership of this company, there are some problems of square besides the qualities. But, there have some ways to elimination. Square is the market leader is in the pharmaceuticals industries. They are such a company which always does try to cope up with the dynamic and complex global environment. Such as, with the advancement of the technology, they have already established the south Asia’s biggest plant in the field of pharmaceuticals at near the Dhaka city which is recognizing themselves as a SMART business company. They have the greater market share in pharmaceuticals industries now.
They have achieved it by delivering the quality drugs and good retailer service especially in the urban area. They usually use the push strategy to makes their products available for their consumer. Their customer is very much loyal about their products. This is on of the important reason behind their success. They have gained it through their quality. They are managing their business by such employees who are highly qualified and have got a vast experienced. Their work force is so much delegated about their works except few problems. Their product is already certified by the International Standard Organization (ISO) which recognizes them as a quality manufacturer.
It’s natural that wherever there is a little possibility to be a gainer, there must have some weakness. Though square is a doing their business in international level but, they have also some problem. Like, there are some products of square which is relatively charging high price then others. Such as: Amcofin-5 (Tk. 3) produced by Incepta- A very new pharmaceuticals company Amcofin-5 (Tk. 3.50) produced by ACME
Amcofin-5 (Tk. 4) produced by Square
So, here we can see that they are defeating by the price. There are some other cares like this which seems a weak point for them. They have another problem has viewed by a small survey that they have a problem with their distribution in the rural area. There the drugs pharmacy doesn’t get their drugs in time and they need to wait for a long time for their drugs supply by which they can lose their consumer loyalty. Employee turnover is another problem of square. Not a great deal of turnover, but, it a problem for them.
At the current time they are exporting their drugs in some African countries. So, they have a great chance to enlarge their business boundary. They can export their drugs in some other countries by establishing new technology. They are already the market leader in the pharmaceuticals industries. So, if they do try to strengthen their operation more in the domestic market, then they can have the position in the market which can never be unbreakable. If they able to do this then they can maximize the share holders profits and through this they can increase their market share.
Now, in the pharmaceuticals industries, there a lots more competitors then before. Such as:
So, we can see that day by day the competitors are increasing and among the new competitors, there are some who are doing a very good business. Like:
Amcofin-5 (Tk. 3) produced by Incepta- A very new pharmaceuticals company Amcofin-5 (Tk. 3.50) produced by ACME
Amcofin-5 (Tk. 4) produced by Square
So, here we can see that they are defeating by the new competitors. Because, the competitors are producing more efficiently then square. So, it’s a great threaten for them. There are some other joint ventures pharmaceuticals companies in Bangladesh like ROCHE, United & Unihealth etc. So, square should take the necessaries steps to protect their market share. Otherwise, the market challengers like ACME, Beximco, and Jayson etc. can attack square. Market followers are having some good quality product. So, it’s a real threat for the market leader.
It’s an important aspect for every company to set their goals and according to that they can get the motivation to reach the goals. But, the goals and plans should be realistic and to achieve that goal everybody should work together and Square is such a company which is completely enthusiastic to achieve it.