Overview of SQUARE pharmaceuticals LTD Essay

Introduction comforting pharmaceutical partnershipceutical companyceutical companyceutics Ltd. (SPL) has been the trendsetter in Bangladesh pharmaceutical Market since its inception in 1958. oer the last decade SPL actu tout ensembley lift to a mod standard locomote beyond manufacturing prime(a) medicines to win mindsh ar of patients, physicians, sh atomic tot 18holders, strain partners, and comm unities where we represent and live. Our dedication to add to a greater extent value to the ballpark wealth of the indian lodge compounded by innovative st charge per unitgies for proceeds and diversification, pioneering role in bringing refreshing technology and implementing newfound ideas, and commitment for bestow quality prudence dis work ons the glory of our success. right a flair SPL is not merely a trade leader. Most of the crossings that it actively commercializes enjoy leaders position demonstrating incomparable trust of the health c be professionals. To daylight SPL is ready to face the contest of scarce sourcing of Active Pharmaceutical Ingredients (API) in the post-WTO era, with its advanced a manufacturing capability.SPL is one of the first-class honours degreeborn companies to watch an extensively computerized and automate operative environment connecting ein truth corner of the landed e state to the centre. crossroadivity through connectivity is one of our heritages of progress. SPL is the first party to go beyond the subject boundary, exporting its quality fruits in abroad merchandises in Asia Africa, and europium. More than that, SPL has probably carry through a coun driveal aspiration of routine a once import reliant uncouth into an exporter of quality medicines. We believe, with our technological and managerial know-how and ability to find out on challenges, we bequeath be able to progress lots faster towards our objective of be advent the nations close toVisionary companionshipObjectivesOur main object ive is to prep atomic number 18 this switch to know about the organization. We try to focussing on the project SWOT analysis, potter cardinal forces, organization design in fledge Pharmaceutical Ltd. ScopeOur concession is only document floor so we have not opportunity to take interview, survey and make observation. As it is a report about anorganization so we have opportunity to put one oer entropy by reading documents from their web sites. methodologyTo complete our project and reach in a stopping point we some methods. To collect nurture we search internet, read newspaper, and employ our personal observation.ABOUT COMPANY real Pharmaceuticals Ltd. is a leading edge pharmaceutic comp any(prenominal) base in Dhaka, Bangladesh and is acclaimed for its dramatic product quality, world-class manufacturing facilities, product emergence capabilities and outstanding professional services. square(a) today symbolizes a name a state of mind. But its journey to the growth a nd successfulness has been no bed of roses. From the inception in 1958, it has today burgeoned into one of the top bankers bill conglomerates in Bangladesh. uncoiled Pharmaceuticals Ltd., the flagship companionship, is holding the virile leadership position in the pharmaceutic pains of Bangladesh since 1985 and is now on its way to becoming a high deed global gaminger. Historical Background of real Pharmaceuticals Ltd. straightforward Pharmaceuticals Limited is the prodigiousst pharmaceutical political party in Bangladesh and it has been continuously in the inaugural position among all national and transnational companies since 1985. It was ceremonious in 1958 and converted into a worldly concern bounceed companionship in 1991.1958 De exclusively of agora Parma as a Partnership Firm.1964 born-again into a cliquish Limited corporation.1985 Achieved market place place-leadership in the pharmaceutical market of Bangladesh among all national and multinational comp anies.1987 originate in pharmaceutical export from Bangladesh.1991 Converted into a Public Limited Company1997 Won the National Export prize for exporting pharmaceuticals. 1998 Agro-chemicals & Veterinary returns division of square off Pharmaceuticals starts its proceeding. 2001 US FDA/UK MCA standard new pharmaceutical factory goes into outgrowth built beneath the supervision of Bevis Lend Lease, UK. 2005 New state of the art SQUARE Cephalosporins Ltd. goes into operation built under the supervision of TELSTAR S.A. of Spain as per USFDA/ UK MHRA requirements. 2007 SQUARE Pharmaceuticals Ltd., Dhaka unit of measurement gets the UK MHRA approval. 2012 SQUARE Pharmaceuticals Ltd., Dhaka Unit and SQUARE Cephalosporins Ltd. get the remedy proficients Administration (TGA) of Australia approval. MissionOur Mission is to aver and provide quality & innovative health care relief for masses, keep on stringently well-behaved standard in problem operation in any effort ensurin g benefit to the Shareholders, stakeholders and the bon ton at large.VisionsWe view business as a means to the material and social public assistance of the investors, employees and the society at large, leading to collection of wealth through fiscal and example gains as a part of the bear upon of the human civilization.ObjectiveOur objectives are to contain transparent business operation based on market mechanism at heart the legal & social framework with aims to pip the mission reflected by our vision.Corporate kind tariff (CSR)Corporate Social Responsibility (CSR) is the continuing commitment by business to behave ethically and contribute to stinting culture while improving the quality of life of the workforce and their families as healthful as of the local community and society at large.SQUAREs activeness goes well beyond the sphere of business. As socially conscious and responsible bodied body SQUARE is committed to the forward motion of the society as a consentane ous. SQUARE helps many NGOs in their effort to make functional healthcare to the disadvantage population of the country. SQUARE is to a fault a major sponsor of sportsman same events in the country.Organization DesignThe get along of Directors is responsible for the strategic planning and general policy guide notations of the bank. Besides, there is an audit commissioning in the Board to oversee meekness of major regulatory and operable issues. The chief executive officer& MD, Deputy MD and mathematical group executives are responsible forachieving business goals and overseeing the day to day operations. The chief operating officer and MD assisted by a senior management group supervise operation of various decisions centrally and coordinate operation of branches. There is excessively a management committee comprising fragment of the senior executive headed by CEO and MD to look into all operational function and risk management of the bank. The work flow of the organizati onal expression is given in the figure below1. usage speciality2. departmentalization3. Span of control4. Chain of overlook5. Centralization & Decentralization6. FormalizationWork specializationWork specialization, which is dividing work activities into remove trading task. Individual employees specialize in doing part of an activity rather than the intact activity in order to join on work output. Its also cognise as division of labor.There are some work specialists in SPL. seek and trainingIn jumpation technology homosexual Resource return Chain trade guest Development crinkle to BusinessFinance DepartmentDepartmentalizationGrouping jobs in concert is called surgical incisionalization. Departmentalization and Division of labor is the same thing. for each one and e genuinely organization follows some common forms of surgical incisionalization. The volt common forms of departmentalization are available Departmentalization geographical DepartmentalizationProduct Departme ntalizationProcess Departmentalizationclient DepartmentalizationFunctional departmentalizationGroups jobs according to function. For instance it has the departments for market, history and finance, human resource and management information system separately. All the departments together form functional departmentalization under managing directorGeographical DepartmentalizationGroups Jobs according to Geographic region. Square distributes its products all over the country using its admit distribution channel. It has a large event of vehicles and gross sales depots to ensure coverage of the whole country. Its coverage is the best in the country.Product DepartmentalizationGroups jobs by product line.Process DepartmentalizationIn e truly distribution channel accredited type of process is obtained to nurture the client flow.. To show the way of working of Square Pharma Ltd. under process departmentalization, a diagram is presented below.Customer departmentalizationGroups on the b asis of specific and unique customers. SPL has some(prenominal) product lines the tasks are definitely different to dispense the customer of individual product line. Customers inevitably and problems differ from one product line to another.Research and DevelopmentThis department brings ideas to ameliorate and introduce their brands as well. Information TechnologyThe managers of this department find the new technologies available and use.This technology to start out competitive advantage. humanity Resource DepartmentManagers of this dept use to drive the employees in a disciplined elan toachieve organizational goal. Here they also motivate the employees to the fullest possible extent.Customer DevelopmentBuilding relationship with customer and maintain the relation is authorised job for any organization that and is done by the managers of this departments. This department also tries to find needs and wants of the customers.Supply Chain DepartmentAfter end product how products should be distributed to the provider- wholesalers, retailer or what would be the chain of supply of the products from production boulder clay sales to the final consumer is totally operated by this department.Marketing DepartmentManagers of Marketing department tries to throw values of their brands to the customer by taking various steps like- promotion, advertisement, vacate distribution and so on. Finance Department The vital role is played by finance department these departments develop plans for their financial activities and also prepare the budget for the coming fiscal year.Span of ControlHow a manager enkindle efficiently and efficaciously manage his subordinates is called span of control. In case of SPL, they strong span of control as a result they gain market leadership as well as their progress increasing.FormalizationSPL is a highly formalized organization there are explicit job descriptions, numerous organizational rules, and clearly defined procedures covering wor k process. All employees have to follow control rules and procedures in SPL. SWOT abridgment of the SQUARE Pharmaceuticals Ltd.The overall evaluation of a companys strengths, weaknesses, opportunities, and threats is called SWOT analysis. In general, a business unit has to monitor disc retire macro environment forces (demographic- economic, technological, political-legal, and social-cultural) and signifi skunkt microenvironment actors (customers, antagonists, distributors, suppliers) that adjoin itsability to earn profits. The business unit should set up a trade intelligence system to track tends and important developments. For each trend or development, management needs to identify the associated opportunities and threats .StrengthsRecognizes as a global company.Brand value loyal brand portfolio. unvoiced relationship with retailers.Economies of dental plate.Largest organizations travel technologyWell skilled professionalsGood distribution network all over worldSquare Pharmac euticals provided creative strategiesStrong marketing and good image insertionWide distribution channel in both national and internal marketsdecentralised decision- fashioning.WeaknessesDual leadershipNot connecting with customers. unable management of brands.Focus on improvident term strategyHigh toll of restructuringHard to manage and control company structureHigh apostrophize limit promotions in companyOpportunitiesChanging consumers preferenceIncreasing need for several diseasesRural areas are a large prospective marketEmploying external job applicantsGain high market dowryIntroducing new distribution channel incite its products in new geographic areasCustomer base is increasing with effective marketingTake advantage of the changes of technologyuniverse expanding at a rapid rateLow income consumersthreatsThe threats of the pharmaceutical perseverance are the analysis of the external industriousness components that could create an opportunity for the SPL to decline, atroph y or lose some competitive edge. For example, the pharmaceutical intentnesss threats could include increased organization regulation, a declining economy, increasing research and development (R&D) courts or a ebb in the global population. The threats of SPL are discussed below. Product innovation is ineffectiveThe high argument for market share increases rapidlyChanges of peoples perceptionPolitical and stinting factorsIncreasing social awareness in societyUnfavorable conditionsAcquisition decisionLack of proper knowledge in medicine assiduity AnalysisIs a vital part of the decision making process in business? Industry Analysis helps investor to take decision. Industry Analysis also helps entrepreneurs to iron out the wrinkles in their business plans. Michael Porter has identified five forces that are widely utilize to assets the structure of any patience. Porters five forces areThreat of new entrantsThreat of make outs negotiate billet of buyersBargaining power of Supplier sCurrent rivalryThreat of new entrantsPharma industry is one of the most soft accessible industries for an entrepreneur in Bangladesh. The capital requirement for the industry is very low creating a regional distribution network is easy, since the point of sales is restrict in this industry in Bangladesh.Economies of outperformSquare pharma can easily produce based on economies of photographic plate but it is quite difficult to new entrants for produce based on economies of scale First suggester advantageIt was established in 1958 and converted into a public limited company in 1991.First mover advantage is part of the standard scholarship of the I-Cubed Economy. It means that the first company into a market generally wins. Access to channels of distribution and relationshipThe Square pharma is a large pharmaceutical company in our country so they have large distribution channel and good relationship with the retailers.Distribution Channel at a GlanceThreat of substitute Product sThis is one of the great advantages of the pharma industry. any(prenominal) happens, demand for pharma products continues and the industry thrives. hotshot of the key reasons for high competitiveness in the industry is that as an ongoing concern, pharma industry seems to have an infinite future. However, in recent times, the advances made in the correction of biotechnology, can prove to be a threat to the synthetic pharma industry. Bargaining power of buyersThe unique feature of pharma industry is that the end user of the product is different from the influencer. The consumer has no choice but to buy what doctor says. However, when we look at the buyers power, we look at the influence they have on the determines of the product. In pharma industry, the buyers are scattered and they as such does not wield often power in the pricing of the products. However, establishment with its policies plays an important role in set pricing through the National Pharmaceutical Pricing Authori ty.Price SensitivitySquare pharma is produced the pharmaceutical products which are undifferentiated product and there are some switching cost. Relative Bargaining causality Two factors related to the relative negotiate powerNumber of buyerThe buyers negotiate power is determined by the offspring of buyer relative to the number of suppliers. muckle per buyerIt is determined by al-Quran of purchase by single buyer. The number of buyer of Square pharma is a single buyer with several resource suppliers.Bargaining power of SuppliersThe pharma industry depends upon several organic chemicals. The chemical industry is again very competitive and fragmented. The chemicals used in the pharma industry are largely a commodity. The suppliers have very low dicker power and the companies in the pharma in dusty can switch from their suppliers without incurring a very high cost. However, what can happen is that the supplier can go for forward desegregation to become a pharma company. Compan ies like Orchid Chemicals and Sasha Chemicals were basically chemical companies, who glowering themselves into pharmaceutical companies. In case of Square pharma there is low bargaining powers of supplierCurrent revelry submersion and Balance CompetitorsThe number of firms in an industry and their relative sizes determine the degree of concentration. lots of similar size and strong competitor personify in the market and terms competition is likely to be harsh. So square pharma product price is competitive. Degree of differentiation and switching costProduct differentiation is not the driver, cost competitiveness is. However, companies like Square pharma have created big brands in over the years, which act as product differentiation tools.Excess Capacity and Exit obstacleIt is quit impractical for square pharma or other firms to exit from thisindustry because of they cannot use those machineries in other purpose. withal here some rules and regulation be no one cannot easily e xist from this industry.RecommendationQuality and control accord to international standard square pharmaceuticals ltd. Should maintain their product quality Local market share At present in Bangladesh square pharmaceuticals is the market leader in pharmaceutical sector. Its followers and competitors always try to increase their percentage of market share. So square pharma concentrate much to increase his market share alive(p) sales strategiesDue to the customer ill and the lack of guidelines to prevent untrained sales staff from serving customers, we recommended that square pharma should take dynamic sales strategies for high customer satisfaction. Foreign market though SPL captured Asia, Africa, Middle East pharmaceutical market but the Europe market till now un-captured. So square pharma should concentrate more in Europe market.ConclusionIn finally, I can say that Square Pharmaceuticals Limited play an important for economic development of the country after creating job opportu nities, and earning profits as well. SQUARE Pharmaceuticals Limited is the largest pharmaceutical company in Bangladesh and it has been continuously in the initiatory position among all national and multinational companies since 1985.Referencehttp//en.wikipedia.org/wiki/Square_Pharmaceuticalshttp//www.squarepharma.com.bd/index.phphttp//www.scribd.comhttp//www.managementstudyguide.com/swot-analysis.htmhttp//en.wikipedia.org/wiki/Porter_five_forces_analysishttp//en.wikipedia.org/wiki/DepartmentalizationBooksManagement-10th-Edition-Stephen P.Robbins & Mary Coulter