Focus on the employee job satisfaction at Beximco Pharmaceuticals Ltd
Introduction
1.1 Preface
Beximco Pharmaceutical Ltd. or BPL is the leading pharmaceutical manufacturing in the country. It all began in 1980 when BPL, first product made under license of Bayer AG, Germany rolled out of a small manufacturing plant in Tongi, Dhaka. Product made under license of Upjohn Incorporated, USA followed. After its initial years of struggle it broke ground with the launching of its own product in 1983. The journey continued and barrier after barrier were crossed, challenges were faced and overcome to transform BPL into what it is at present. Today, BPL holds a 15% share in the domestic market after competing with such Multinational Giants as Glaxo, Welcome, Novartis, Hoecsht, Rhone Poulenc Rorer, Fisons etc. BPL manufactures and markets a high quality and cost-effective range of about 80 formulations covering all major therapeutic groups. The commissioning of BPL’s Basic Chemicals Unit in 1990, established a very significant milestone in the history of the country’s chemical industry.
It not only met 90% of the country’s demand for two vital raw materials, ampicillin and amoxycillin but also started selling these to overseas markets, including South Korea and Malysia. BPL received the Export Gold Trophy in 1994-95 for its export of these two basic chemical making it the first pharmaceutical company in Bangladesh to win the Export Trophy
Human Resources are part and parcel of an organization. An organization can not move these resources. A particular person never does a work well until he has keen interest and love for the work. Such interest and love can be generated by applying force on someone or may self-prompted. While the former may be true in some cases it is transitory and ineffective, the latter has more lasting and conducive impact. Thus the question arises about the satisfaction level of a person for a job.The tried to find out the answer of the question though this research.
This report is focus on the employee job satisfaction at Beximco Pharmaceuticals Ltd. of distribution.
1.2 Origin of the Report
Today, practical experience is as much essential as academic education that enables someone to be successful business executive especially in the glove, competitive business environment. In order to gather Knowledge and exposure regarding the organization culture, behavior the business students have to be go internship after the successful completion of their business degree.
1.3 Objectives of the proposed study:
Objectives are as follows:
o To know getting maximum results with minimum efforts.
o Increasing the efficiency of factors of production.
o Maximum Prosperity for employer and Employees
o Human betterment & social justice
o To find the weaknesses associated with the management of assets and liabilities of the company
o To perfect management of distribution system in chemical industries.
o To know the how to problem to solve arising the problem.
1.4 Scope of the Study:
The report intends to asses the position of overall pharmaceuticals market in Bangladesh, with special reference to Beximco Pharmaceuticals Ltd.The report is prepared with a view to provide a brief but complete idea about pharmaceutical industries position of several pharmaceuticals companies. For this purpose data was collected from primary and secondary sources. The readers will also understand the different management, marketing situations, export positions, economic situations, social contributions etc. about selected pharmaceutical companies. Some findings and recommendations have been mentioned in the report to get a clear picture about overall credit card market in Bangladesh.
1.5 Limitation of the Study:
The limitation and constraints faced while conducting this study are below:
· The industry data was not available.
· The internship has been made for two month long duration but it is very much difficult to set true practical experience about the real business world with in this short span of time.
· Due to cost restriction, the study is concentrated in selected areas only distribution department of Beximco Pharmaceutical Ltd.
· Sampling error may occur due to the utilization of convenience sampling.
· The carried out such a study for the first time so inexperience is one of the main constrains of the study.
In spite of all these limitations have to put the best effort as far as possible
1.6 Data collection and its sources:
Secondary data was collected from following sources:
o Annual Reports.
o Monthly Reviews of DSE and Internet.
o Working Papers.
o Office Files.
o Selected Books.
o Printed Forms.
o Published & Unpublished Documents.
Methodology
Using Data:
The report is based on information collected from both primary and secondary data sources. To make the report more meaningful and presentable, both the following sources of data and information have been used widely:
a) The Primary Sources:
- Face-to-face discussion with the relevant officials.
- Practical/ hands-on experience of working in the human resource and administration department.
- Study of relevant files provided by the officers concerned.
b) The Secondary Sources:
- By using Corporate profile of Partex group
- The internet was also used as a theoretical source of information
The analyzed selected sections and tried to identify problems associated with each section. The have also recommended some suggestions regarding these problems. At first have prepared this draft report and will submit it to tutor then based on the feedback will submit the final report.
Chapter -2
2.1. Origin of Beximco Group
Taking Bangladesh to the World…
Today the BEXIMCO Group (“BEXIMCO” or the “Group”) is the largest private sector group in Bangladesh. BEXIMCO was founded in the 1970’s by two brothers – Ahmed Sohail Fasiur Rahman and Ahmed Salman Fazlur Rahman. Since the early days, the Group has evolved from being primarily a commodities trading company to a leading, diversified group with a presence in industry sectors that account for nearly 75% of Bangladesh’s GDP. BEXIMCO’s corporate mission is “Taking Bangladesh to the world”.
As BEXIMCO has grown over the years, the flagship platform now has operations and investments across a wide range of industries including textiles, trading, marine food, real estate development, hospitality, construction, information and communication technologies, media, ceramics, aviation, pharmaceuticals, financial services and energy. The Group sells its products and services in the domestic Bangladesh market as well as international markets. BEXIMCO is the largest employer in the private sector in Bangladesh and employs over 48,000 people worldwide.
The BEXIMCO name has now become one of the most recognizable brand names in Bangladesh. It is synonymous with innovation, trust and quality. The Group consists of four publicly traded and seventeen privately held companies. The publicly traded companies – Bangladesh Export Import Company Limited, Beximco Pharmaceuticals Limited, Shinepukur Ceramics Limited and Beximco Synthetics Limited – have a combined market capitalization of approximately $625.41 million. The Group had total revenues of $834 million in the year ended December 31, 2010.
BEXIMCO encompasses one of South Asia’s largest vertically integrated textile and garment companies. The Textile division is a fully integrated manufacturer of cotton and polyester blended garments for men, women and children, both for domestic and export markets. BEXIMCO is also the largest exporter of pharmaceuticals in Bangladesh with a presence in 45 countries. The Pharmaceuticals division manufactures and sells generic pharmaceutical formulation products, active pharmaceutical ingredients (API) and intravenous (IV) fluids. The Group is also the largest ceramics exporter and has an investment in GMG Airlines, the largest private commercial airline in Bangladesh and in Unique Hotels & Resorts, which owns the Westin Hotel in Bangladesh.
State-of-the-art manufacturing plants located in the vicinity of Dhaka provide the Group with a highly cost effective manufacturing base. A majority of its plants are in the BEXIMCO Industrial Park, a vertically integrated self-contained facility. This facility provides ready access to captive power generation, water purification, liquid nitrogen, waste water treatment and other key infrastructure. The Group’s global clients include some of the world’s best known brands including BT, BASF, Chevron, Calvin Klein, H&M, JC Penney, Macys, Zara, UNICEF, Royal Doulton and Villeroy & Boch.
BEXIMCO is well positioned to capitalize on strong growth across industries in both the domestic and global markets. Each Group company is managed by an independent, professional team with significant depth of experience. Management teams have established a clear strategic plan that will further strengthen the overall platform. BEXIMCO intends to leverage its market position and global scale, further diversify operations into highly profitable sectors, capitalize on the domestic growth opportunity and selectively pursue international opportunities going forward.
In recognition of its corporate success and creation of shareholder value, the BEXIMCO Group has and continues to make significant contributions to Bangladesh’s society. Sponsored organizations include “Proyash”, a specialized institute that works for the holistic development of children with special educational needs and “Gono Sahajjo Songstha”, an institution that provides education for the underprivileged. BEXIMCO was also an official sponsor of the Bangladesh National Cricket team for the ICC Cricket World Cup 2011 and also the official title sponsor of the FIFA friendly match between Argentina and Nigeria held in September, 2011.
2.2. Mission and Vision of Beximco Group
Mission:
Organization mission refers managements customize answer to the question what is our business and what will it be? A mission statement broadly outlines the organization’s future direction and service as a guiding concept for what the organization is to do and to become.
“Each of our activities must benefit and add value to the common wealth of our society. We firmly believe that in the final analysis we are accountable to each of the constituents with whom we interact namely our employees, our customers, our business associates, our fellow citizens and share holders.”
Vision Statement:
Vision is the long-term outlook i.e. management expectation of an Organization’s Position over the next 5 to 10 years. The vision of BEXIMCO reflects in the Chairman following statement (Groups Annual Report 2000).
“If there is one characteristic that has typified the BEXIMCO approach it is Vision to be the best of our nature and human resources. A vision to establish our group and country as a respected and valued regional presence
2.3.Figure: Corporate structure of Beximco Group.
2.4.List Of Major Companies including the Beximco Group:
| Division | Company |
| Textile Division | Padma Textile Mills Ltd. |
| Beximco Synthetics Ltd. | |
| Beximco Apparels Ltd. | |
| Beximco Knitting Ltd. | |
| Beximco Textiles Ltd. | |
| Beximco Denims Ltd. | |
| Beximco Fashions Ltd. | |
| Beximco Fabrics Ltd. | |
| Chemical Division | Beximco Pharmaceuticals Ltd. |
| Pharmatek Chemicals Ltd. | |
| I & I Services Ltd. | |
| Real Estate & Construction Division | Beximco Engineering Ltd. |
| Shinepukur Holdings Ltd. | |
| Trading Division | Bangladesh Export Import Ltd. |
| Beximco Holdings Ltd. | |
| Jute Division | New Dacca Industries Ltd. |
| Sonali Ansh Ltd. | |
| Esses Exporters Ltd. | |
| Marine foods Division | Beximco Foods Ltd. |
| Beximco Fisheries Ltd. | |
| Information Technology Divisions | Beximco Softech Ltd. |
| Beximco Systems Ltd. | |
| Beximco Computers Ltd. | |
| Bangladesh Online Ltd. | |
| Others | Shinepukur Ceramics |
| Gammatech Ltd. |
Table: Major companies of Beximco Group
The number of companies in each division is different. The companies of Beximco group in relation to division have been elaborated as follows:
Beximco Textile Division:
From fiber to fabric, the BEXIMCO Textile is a truly integrated undertaking. The Textile Division has the capability to offer a complete product range for the export and domestic textile markets. The goal of the Textile Division is to become the preferred partner the for source of high quality fabrics and clothing from Bangladesh. With highly advanced technology and emphasis on developing local human resources, the Textile Division has the potential to make an important contribution to the nation’s growing ready made garments export sector.
Beximco Jute Division:
The golden fiber provided the genesis of today’s BEXIMCO Group. As one of the staple exports of Bangladesh over the years, jute has been a mainstay of the country’s economic landscape. The BEXIMCO jute Division is the world’s largest jute yarn and twine manufacturer and exporter with 12% of the world jute and twine trade. Annual exports are currently over 20,000MT. BEXIMCO was the pioneer in manufacturing specialized jute yarn and twine for Ax Minister carpet and continues to explore new product and market opportunities worldwide. Until the jute business has got the setback in international market this division was one of the prime contributor to the group and the country as well.
Beximco Real Estate & Construction Division:
The two critical needs of the country for the next decade and beyond are infrastructure and housing. The Real Estate and Construction Division aims to develop service and product offerings, which are second to none in its areas of core concentration.
BEXIMCO Engineering Ltd.(BEL)has been providing high quality civil engineering and consulting services to both the government and private sector for over a decade and was the largest sub-contractor on the historic 4.8 km. Long Jamuna Bridge. The firm is also involved in a number of road development and infrastructure projects.
Shinepukur Holding Ltd. Real Estate Division although real-estate developers have mushroomed in Dhaka and other urban areas over the years, Shinepukur Holdings Real Estate division was begun with mission to segment the real-estate market and develop demographically specific housing projects.
Marine Foods Division:
Diversification into milk-fish production to supplement the traditional harvests of tiger prawn and sea bass has been a boon for Beximco Fisheries Ltd. With the pilot project in the coastal Cox’s Bazar area in full swing, the year has been better than the past years for the Marine Food Division. This group added significantly to the group through success in fisheries business. The turnover of the group was also boomed by the contribution of the export of marine foods to international market.
Beximco Trading Division:
This division holds the initial business trend of Beximco, indeed. It looks for the opportunity of import-export commodities that have the in the market. This division is really dynamic and high profit contributing to the group with a brand portfolio that includes Wartsilla SA ( generation equipment), Arjo Wiggin’s ( security & treasury papers) of France, and Dupont Inc.( Chemicals), Sterling Diagnostic Imaging Inc.( film products) and Valvoline Inc.( petroleum products and industrial lubricants) of the USA. The Trading Division also represents overseas marine food buyers acting as a source of agent on their behalf and providing quality control.
Beximco IT Division:
The companies included in this Division are Beximco Computers, Beximco Systems, and BOL online. Beximco Computers Ltd. is still the nation’s largest volume re-seller of IBM PCs. With the launch of a new version of Bexi Bank, an integrated multi-user, multitasking banking application system Beximco Computer Ltd.’s software is in use at over 300 branches of 15 major banks nationwide.
Beximco’s first foray into education, Beximco Systems Ltd. is joint venture collaboration with the largest information technology institute of India, NIIT. Molded after NIIT’s highly successful training centers across India, the NIIT Centers in Bangladesh have the highest growth rate of any NIIT facility for enrollment levels in its short courses and degree programs.
Bangladesh Online Ltd.(BOL), Beximco’s Internet Company launched its operation in August of 1998. The company has the fastest access among ISPs in Bangladesh. This division to serve groups interests in the most booming sectors of the world that is Information Technology. Since it started operation it proceeded very fast and became the market leader soon. It is pioneer company in Bangladesh to offer complete solution of automation. It also introduces the brand IT products to this country.
Beximco Group established a very significant milestone in the history of the country’s chemical industry. The plant not only met 90% of the country’s demand for two vital raw materials, ampicillin and amoxycillin but also started selling these to overseas markets. BPL received the Export Gold Trophy in 1994-95 for its exports of these two basic chemicals making it the first pharmaceutical company in Bangladesh to win the Export Trophy.
This division is involved with the following companies:
· Beximco Pharmaceuticals Ltd.
· I & I Services Ltd.
· Pharmatek Chemicals Ltd.
Beximco Pharmaceuticals Ltd.
Beximco Pharmaceuticals Limited was incorporated in Bangladesh as a public company with limited liability, on 17th March 1976 and commercial operation on 1st October 1980. The company went for public issue of shares in 1985, and its shares are listed in the stock exchanges in Bangladesh. And it is the leading pharmaceutical manufacture in Bangladesh. BPL started its operations in 1980 with product made under license of Bayer AG Germany; products made under license of Upjohn Inc. USA followed. Beximco Groups of as the name reveals not only produce drugs, they are also producing many other items like Textile, Holding, Marinated food etc. They are growing 15% (approx.) per year. Growth of any industry more than 10% is considered high growth industry all over the world. This rapid Growth rate is the second highest growth rate compared to the garment industries of our country. Principal Activities and Nature of operations; The company owns and operates a modern Pharmaceuticals drugs and medicines and sells them in the local and foreign markets.
While Pharmaceutical companies in many developed countries have lost their luster; the business is still highly attractive in Bangladesh. Beximco pharmaceuticals is an industry leader in Bangladesh Pharmaceutical Industry. Many of its products are brand leaders in their respective fields. The current status of BPL is that it is one of the largest producers of quality medicines both at home and abroad. It is engaged in manufacturing, marketing and export of pharmaceuticals finished products and raw materials. BPL products are sold more than 16 countries across 3 continents (Asia, Europe, and Africa). The company continuously investing in the latest technology and manufacturing facility to meet the growing demand for its product and it is constantly expanding its already diversified product portfolio to better serve the community.
Pharmatek Chemicals Ltd.
Pharmatek Chemicals Ltd. is the leading bulk producer of Paracetamol on Bangladesh. It caters to almost 60% of the local market and supplies its products to both national and multinational companies operating in Bangladesh. The company is managed and operated by BPL under a long-term management contract.
I & I Services Ltd.
I & I Services Ltd. is the distribution wing of the Chemical Division. It maintains a large distribution network and covers 20,000 customers nationwide every month. A highly sophisticated order processing system, logistic facilities in terms of vehicles, depots and a team of professional sales staff keep pace with the ever-increasing market demand for timely execution of orders and quality services.
2, 5.Background of Pharmaceuticals Industry:
The pharmaceuticals sector is a high technology and knowledge-intensive industry in Bangladesh. The industry has two-tier structure. The largest firm accounts for the majority of the R&B investment in the industry and hold the majority of patents. There are a large number of smaller firms producing mostly for local markets. The pharmaceuticals industry is heavily regulated.
Once a product is brought to market, pharmaceuticals companies spend heavily on marketing and promotion. The larger drug companies maintain a large sales force, which makes direct regular contacts with individual prescribing physicians and other pharmaceuticals decisions makers. The money spent on marketing is huge. Pharmaceuticals marketing efforts are not only directed at physicians and consumer; drug companies have also sought to directly influence pharmacist to induce customer to change their drug consumption habits.
The nature of competition in this industry differs between the two sets of firms. The second tier of firms holds fewer patents and relies primarily on manufacturing off patent generic medicals medicines or patent medicines under lenience. Competition between these firms takes the conventional from of competition on price, cost efficiency and quality. It contrast, a few large research-based pharmaceutical companies invest heavily in R&D and hold the bulk of the patents, and can often enjoy substantial market power while these patents are in force. For these companies, competition is not primarily on the basis of price, but rather on the basis of marketing and innovation. Theses companies compete to develop entirely new drugs, which treat new medical conditions, improve upon existing drugs, or serve as substitute for existing patented drugs. Some large pharmaceutical companies in these tiers export and compete in international markets.
The scenario of pharmaceutical industry can be depicted in two parts-before the Drug policy ordinance, 1982 and after the drug policy ordinance, 1982. Before the ordinance there were 177 pharmaceutical companies in the country but local production is used to be dominated by multinational drug companies that manufactured 75% of total production. 25 medium sized national companies manufactured about 15% of total production. 133 small local based companies produced the remaining10%. The multinational companies where fully armed with modern technology for producing sophisticated essential drugs, but they were only engaged, a large extent, in formulation of simple drugs including many useless products. At that time, the unregulated drug market of the country had very little of favorable conditions for pharmaceuticals to over price their products. Near monopoly market conditions mean that local firms could not compete effectively with these multinational market tycoons.
A grate change was noticeable in the pharmaceutical industry after the drug policy ordinance of 1982. The total national production of pharmaceuticals has risen by a substantial 63%; the value of essential drugs made in national factories has gone up to 140% over the four years. At present there are 250 national based and 7 multinational based pharmaceutical companies in Bangladesh.
2.6.Top Fifty pharmaceutical companies in Bangladesh:
Top Pharmaceutical Company of Bangladesh: 2011
| Tk (Crore) | Share | Growth % | ||
| Rank | Total Market | 7,186 | 100.00 | 24.30 |
| 1 | SQUARE | 1,378 | 19.18 | 23.54 |
| 2 | INCEPTA PHARMA | 650 | 9.05 | 32.17 |
| 3 | BEXIMCO | 620 | 8.62 | 40.33 |
| 4 | OPSONIN PHARMA | 355 | 4.94 | 26.09 |
| 5 | ESKAYEF | 348 | 4.84 | 24.82 |
| 6 | RENATA | 340 | 4.73 | 29.63 |
| 7 | ACME | 319 | 4.44 | 17.34 |
| 8 | A.C.I. | 293 | 4.08 | 18.81 |
| 9 | ARISTOPHARMA | 286 | 3.99 | 21.63 |
| 10 | DRUG INTERNATIONAL | 270 | 3.75 | 18.18 |
| 11 | SANOFI AVENTIS | 185 | 2.57 | 8.77 |
| 12 | GLAXOSMITHKLINE | 140 | 1.95 | 10.84 |
| 13 | ORION PHARMA LTD. | 140 | 1.94 | 31.47 |
| 14 | NOVO NORDISK | 128 | 1.79 | 27.72 |
| 15 | HEALTHCARE PHARMA | 126 | 1.75 | 33.20 |
| 16 | GENERAL | 117 | 1.63 | 19.25 |
| 17 | SANDOZ | 109 | 1.51 | 12.25 |
| 18 | POPULAR PHARMA | 94 | 1.31 | 54.53 |
| 19 | NOVARTIS | 94 | 1.30 | 46.01 |
| 20 | IBN SINA | 93 | 1.29 | 19.49 |
| 21 | NUVISTA PHARMA | 83 | 1.16 | 37.93 |
| 22 | UNIMED &UNIHEALTH | 68 | 0.94 | 22.80 |
| 23 | SUN PHARMA | 60 | 0.84 | 54.63 |
| 24 | GLOBE | 57 | 0.80 | 24.72 |
| 25 | BIO PHARMA | 56 | 0.78 | 21.07 |
| 26 | ROCHE | 50 | 0.70 | 42.24 |
| 27 | RADIANT PHARMA | 41 | 0.57 | 71.73 |
| 28 | PACIFIC | 41 | 0.57 | 18.46 |
| 29 | JAYSON | 38 | 0.52 | 10.97 |
| 30 | BEACON PHARMA | 37 | 0.52 | 18.11 |
| 31 | SMC | 33 | 0.46 | -1.25 |
| 32 | ORION INFUSION | 32 | 0.45 | 12.26 |
| 33 | OPSO SALINE | 30 | 0.42 | 1.85 |
| 34 | KEMIKO PHARMA LTD. | 29 | 0.41 | 4.68 |
| 35 | NAVANA | 29 | 0.40 | -1.94 |
| 36 | DELTA PHARMA | 27 | 0.38 | 53.11 |
| 37 | SERVIER | 27 | 0.37 | 23.61 |
| 38 | SOMATEC | 23 | 0.33 | 4.37 |
| 39 | RANGS PHARMA | 22 | 0.31 | -3.85 |
| 40 | LIBRA | 21 | 0.30 | -4.70 |
| 41 | ALCO PHARMA | 21 | 0.29 | 5.44 |
| 42 | APEX PHARMA | 20 | 0.28 | 38.84 |
| 43 | PHARMADESH | 19 | 0.26 | 80.09 |
| 44 | SILVA PHARMA | 14 | 0.19 | -1.21 |
| 45 | MEDIMPEX | 12 | 0.17 | -50.53 |
| 46 | EDRUC | 11 | 0.15 | -19.17 |
| 47 | ZISKA | 10 | 0.15 | -0.71 |
| 48 | WHITE HORSE PHARMA | 10 | 0.14 | 81.65 |
| 49 | RAK PHARMA LTD. | 8 | 0.12 | 441.79 |
| 50 | ASIATIC | 8 | 0.12 | 65.29 |
| * Others * | 162 | 2.24 | 0.00 |
2.7.A Brief History of Beximco Pharmaceuticals Ltd.
Beximco Pharmaceuticals Limited was incorporated in Bangladesh as a public company with limited liability, on 17th March 1976 and commercial operation on 1st October 1980. The company went for public issue of shares in 1985, and its shares are listed in the stock exchanges in Bangladesh. And it is the leading pharmaceutical manufacture in Bangladesh. BPL started its operations in 1980 with product made under license of Bayer AG Germany; products made under license of Upjohn Inc. USA followed. Beximco Groups of as the name reveals not only produce drugs, they are also producing many other items like Textile, Holding, Marinated food etc. They are growing g15% (approx.) per year. Growth of any industry more than 10% is considered high growth industry all over the world. This rapid Growth rate is the second highest growth rate compared to the garment industries of our country. Principal Activities and Nature of operations; The company owns and operates a modern Pharmaceuticals drugs and medicines and sells them in the local and foreign markets.
While Pharmaceutical companies in many developed countries have lost their luster; the business is still highly attractive in Bangladesh. Beximco pharmaceutical is an industry leader in Bangladesh Pharmaceutical Industry. Many of its products are brand leaders in their respective fields. The current status of BPL is that it is one of the largest producers of quality medicines both at home and abroad. It is engaged in manufacturing, marketing and export of pharmaceuticals finished products and raw materials. BPL products are sold more than 16 countries across 3 continents (Asia, Europe, Africa). The company continuously investing in the latest technology and manufacturing facility to meet the growing demand for its product and it is constantly expanding its already diversified product portfolio to better serve the community.
2.8 Pharmatek Chemicals Ltd.
Pharmatek Chemicals Ltd. is the leading bulk producer of Paracetamol on Bangladesh. It caters to almost 60% of the local market and supplies its products to both national and multinational companies operating in Bangladesh. The company is managed and operated by BPL under a long-term management contract.
2.9 I & I Services Ltd
I & I Services Ltd. is the distribution wing of the Chemical Division. It maintains a large distribution network and covers 20,000 customers nationwide every month. A highly sophisticated order processing system, logistic facilities in terms of vehicles, depots and a team of professional sales staff keep pace with the ever-increasing market demand for timely execution of orders and quality services
2.10. Mission statement of BPL:
BPL has a remarkable mission statement, which is being seriously pursued in its thoughts and actions. An increasing amount of contribution is ploughed back into social causes BPL’s commitment, duties and responsibilities to the human society and nation.
When human society continuing to improve it should not be benefited to BPL itself, but it should positively contribute to the nation and society where we live. The BPL authority believes that they manufacture and sell medicine to provide health, happiness, and smile back in life of their fellow citizens. We intend to help realize the ultimate aspiration for lifetime of good health. It is BPL’s responsibility to ensuring a healthier tomorrow for the people, which they believe as their responsibility.
Organization mission refers managements viewpoint towards is our business. A mission statement broadly outlines the organization’s future direction and serves as a guiding concept for what the organization is to do and to become.
“Each of our activities must benefit and add value to the common wealth of our society. We firmly believe that in the final analysis we are accountable to each of the constituents with whom we interact namely our employees, our customers, our business associates, our fellow citizens and shareholders.”
2.11. Vision Statement:
Vision is the long-term outlook i.e. management expectation of an Organization’s Position over the next 5 to 10 years. The vision of BEXIMCO reflects in the Chairman following statement (Groups Annual Report 2000).
“If there is one characteristic that has typified the BEXIMCO approach it is Vision to be the best of our nature and human resources. A vision to establish our group and country as a respected and valued regional presence.”
2,13. Company profile of Beximco Chemical Division
| Year of Establishment | :: | 1976 | |||||||||
| Country of Incorporation | :: | Bangladesh | |||||||||
| Commercial Production | :: | 1980 | |||||||||
| Status | :: | Public Limited Company | |||||||||
| Business Lines | :: | Manufacturing and marketing of pharmaceutical Finished Formulation Products, Large Volume Parenterals and Active Pharmaceutical Ingredients (APIs) | |||||||||
| Main Country of operation | :: | Bangladesh | |||||||||
| Corporate Headquarter & Registered Address | :: | 17 Dhanmondi R/A, Road No. 2, Dhaka- 1205, Bangladesh
Phone : +880-2-8611891 (5 lines) Fax : +880-2-8613470 Email : info@bpl.net This e-mail address is being protected from spambots. You need JavaScript enabled to view it |
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| Operational Headquarters | :: | 19 Dhanmondi R/A, Road No. 7, Dhaka- 1205, Bangladesh
Phone : +880-2-8619151 (5 lines), +880-2-8619091 (5 lines) Fax : +880-2-8613888 Email : info@bpl.net This e-mail address is being protected from spambots. You need JavaScript enabled to view it Website : www.beximcopharma.com |
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| Overseas Offices & Associates | :: | Australia, Bhutan, Cambodia, Chile, Ghana, Hong Kong, Indonesia, Jordan, Kenya, Kuwait, Malaysia, Myanmar, Nepal, Pakistan, Philippines,Saudi Arabia, Singapore, Sri Lanka, Vietnam and Yemen | |||||||||
| Authorized Capital (Taka) | :: | 9,100 million | |||||||||
| Paid-up Capital (Taka) | :: | 2517.6 million | |||||||||
| Number of Shareholders | :: | Around 93,000 | |||||||||
| Stock Exchange Listings | :: | Dhaka and Chittagong Stock Exchanges of Bangladesh and AIM of London Stock Exchange | |||||||||
| Number of Employees | :: | 2,507 | |||||||||
| TIDM: (Tradable Instrument Display Mnemonic) | :: | BXP | |||||||||
| Date shares were admitted to trading | :: |
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| ISIN | :: | US0885792061 |
2.14. Management Structure:
|
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|
Here,
MD = Managing Director
CFO = Chief Financial Officer
COO = Chief Operating Officer
HRD = Human Resource Department
FSD = Financial Systems Department
DS = Director, Sales
DC = Director, Commercial
D MKT = Director, Marketing
D MFT = Director, Manufacturing
2.15. Composition of the Board:
The Board of Directors
A S F Rahman Salman F Rahman Nazmul Hassan
Chairman Vice Chairman Managing Director
Iqbal Ahmed Director
Mohammad Abul Qasem Director
Osman Kaiser Chowdhury Director
Abu Bakar Siddiqur Rahman Director
Dr. Farida Huq Director
Barrister Faheemul Haq Director
Advocate Ahsanul Karim Director
Dr. Abdul Alim Khan Independent Director
A dedicated Management committee and Executive Committee make sure that BEXMCO PHARMA achieves its target with sheer professionalism. The committees are:
· Management Committee
· Executive Committee
· Company Secretary
o The Management Committee:
Nazmul Hassan Managing Director
Osman Kaiser Chowdhury Member of the Board of Directors
Ali Nawaz Chief Financial Officer
Afsar Uddin Ahmed Director, Commercial
Rabbur Reza Director, Marketing
Lutfur Rahman Director, Works
Zakaria Seraj Chowdhury Director, Sales
Mohd. Tahir Siddique Executive Director
A R M Zahidur Rahman Executive Director, Production
Jamal Ahmed Choudhury General Manager, Accounts & Finance.
The Executive Committee:
Osman Kaiser Chowdhury Member of the Board of Director
Nazmul Hassan Managing Director
Ali Nawaz Chief Financial Officer
Afsar Uddin Ahmed Director, Commercial
The Company Secretary:
Md. Asad Ullah, FCS
1976: Company
incorporated
1980: Commenced 1983: Launched own 1985: Listed with Dhaka
Manufacturing Bayer brands. Stock Exchange.
AG of Germany and
Upjohn Inc. of USA
products.
1992: Commenced 1993: Russia became 1996: IV unit (former
Export operation with first export destination Beximco Infusions
APIs. For formulation products Ltd.) Received
ISO 9001
Certification from
TUV-Cert, Germany.
1998:Become first pharma 2001: First Bangladeshi 2003: Became first com-
company to win “National pharma company entering pany to introduce anti-
Export Trophy (Gold)” for into Singapore, one of the HIV drugs in Bangladesh;
export excellence. most regulated markets in diversified into anti-
Asia. cancer therapeutic class.
2005: Became first 2006: Launched CFC 2007: The US FDA
Bangladeshi company free ozone-bengin HFA standard oral solid plant
to get admission to based inhalers as the commissioned.
Alternative Investment first company in
Market (AIM) of London Bangladesh.
Stock Exchange (LSE)
through issuance of
GDRs.
2008: Only Bangladeshi company to receive GMP certification
from Gulf Central Committee for Drug Registration, Executive
Board of the Health Ministers’ Council for GCC states.
2.17Product and service:
Product type:
They have different kinds of product variety and assortments like, Tablets, Capsules, Dry Syrup, Powder for suspension, cream, ointments, suppositories, metered dose nasal sprays, large volume intravenous fluids, metered dose in halers, etc. ensuring the global standard of quality.
Product variety:
Product Range:
- Analgesics and Antipyretic,
- Anti Infective,
- Cardio Vascular,
- Central Nervous System,
- Cough and Cold,
- Diabetics,
- Gastro Intestinal,
- Intravenous fluids,
- Musculoskeletal,
- Oncology, figure: BPL Office.
- Respiratory,
- Skin Care,
- Vitamins and Minerals supplement.
4.18 Corporate Social Responsibility
· The guiding philosophy of our CSR activities is doing our best in what we do and at the same time helping others in doing what they do. With this in mind, our CSR strategy is that we should manufacture highest quality medicines, our modus operandi should be compassionate for all the people and all our activities should be such that these are benevolent for our society and benign to our environment.
· Corporate social responsibility is an integral part of our business strategy which is reflected in their mission statement. Every employee of their company knows that the company does not view its success and achievements in financial terms only, but also in term of its deep relation with the society.
· Each year, an increasing amount of contribution is ploughed back into social causes demonstrating Beximco Pharma’s commitment to the nation. More importantly the company’s contribution extends beyond one-time donation to ongoing participation as reflected in our partnership with NGOs working for AIDS patients, in supporting sports, and in raising disease awareness among the people.
· They donated medicine worth millions of taka to victims in national and international calamities. Donation of medicines to victims of earthquake in Pakistan and victims of tsunami in Sri Lanka are worth mentioning.
Differential Edge of BPL
· World class manufacturing facility
· Highest GMP standards
· Outstanding product quality
· Sophisticated formulation technology
· Diversified dosage forms & products
· Significant investment in R & D
· Excellent customer services
· Responsible care for the environment
· Commitment to the people & the society
4.19 Commitment of BPL
One of the primary goals of BPL is to contribute to keep the earth clean. BPL is aware of its responsibility of caring for the environment. BPL is committed to green operation and its facilities are carefully designed and operated to prevent all forms of pollution. BPL continuously strives to improve performs and optimize the use of all material and human resources there by minimizing adverse impact on environment.
4.20. International Markets
We are the largest exporter of pharmaceutical products from Bangladesh and received National Export Trophy (Gold), the highest national accolade for export, for record three times. We commenced international market operations with the export of Active Pharmaceutical Ingredients (APIs) to Hong Kong in 1992 and finished formulation products in 1993. We first exported intravenous fluids in 1995 to Russia and Vietnam. Beximco Pharma is the only pharmaceutical company in Bangladesh having its operation
in Singapore
Along with selling products to regular retail outlets, we also supply products to renowned hospitals and institutions in many countries, including Raffles Hospital, and K K Women & Children Hospital in Singapore, MEDS and Kenyatta National Hospital (KNH) in Kenya, Jinnah Hospital, and Agha Khan Hospital in Pakistan.
Another important business activity of Beximco Pharma is the contract manufacturing for major international brands of leading multinational companies.
Products registered in / exported to:
| Asia
Singapore Hong Kong Myanmar Cambodia Nepal Sri Lanka Pakistan Philippine Bhutan Iran South Korea Taiwan Thailand Vietnam |
Africa
Kenya Ghana Somalia Botswana Mozambique Pacific Island Fiji Papua New Guinea Solomon Island Kiribati |
Middle East
Yemen Jordan Latin & Central America Chile Belize Guatemala Eastern Europe Georgia Russia Ukraine |
We aim to build Beximco Pharma as a world-class manufacturer of pharmaceutical products for operating in domestic and international markets, including Least Developed Countries (LDCs), developing and developed countries like USA and
We believe that entry into developed markets in particular will lead to significant sales and profit growth.
BPL operates through extensive departmentalization that has helped it to sustain its position as one of the leading pharmaceuticals in Bangladesh. Most believe that the success rate is partially dependent on the smart, energetic and enthusiastic people, who direct, control and monitor these departments. The departments are described as following manner.
- Strategic Brand Management
- Purchase Department
- Sales Department
- Planning and Inventory Control Department
- Medical Service Department
- MIS Department
- Training Department
- Multimedia Department
- International Marketing Department
- Human Resources Department
- Finance and Account Department
- Distribution Department
- Fine Chemicals
- Commercial
- General Management
- Department of Engineering & Technology
- Marketing Department
- Business Researches & Development
Strategic Brand Management (SBM):
Strategic Brand Management (SBM) department includes the activities of marketing and sales promotion of both BPL and BIL (Beximco Infusion Limited). The head of the department guides all product officers. The activated that are preformed by SBM department are:
- Brand Management.
- Preparing product literature and others promotional materials for doctors.
- Determine the packing pattern, color and size.
- Fixing target sales.
- Searching about competition strength weakness opportunity and threats.
- Conducting meeting with field workers.
- Issuing budgets in consulting with different departments.
- Setting price for each product.
- Collecting statistical data, which are relevant to their operations.
Purchase Department & Inventory controls Department:
Purchase Department is one of important department of Beximco. The purchase department deals with all the purchase (pharmaceuticals raw materials, packaging materials, office equipment, machinery’s etc.) of the organization. This department interacts directly with the planning production and financing department. Finance department develops cash flow at the beginning of the year. The sales department
fixes the sales target. Based on the information provided by the planning department, the purchase department prepared the import authorization formats. Then the format is sent to be the director (commercial) for approval. After as L/C is opened all information about its latest status is documented in a ‘purchase consignment (PC) folder’ preserved by the purchase department. And for the monitoring (Current status and information record) of all L/C, such books are essential.
The purchase department operate two types of purchase, those are:
The activities of the purchase department are:
· Estimated and calculation the cost of necessary raw materials based on planning departments order.
· Split out the whole years demands for raw materials on monthly basis.
· Negotiate for cash with the finance department.
· Take decision which product purchase from the local market and which from import.
· It arranges for bidding to the supplies, which involves close interaction with the planning department.
· Along with the planning department it has to corporate through the whole process to purchasing raw materials from available sources.
It also involves about the machinery requirements for a specifics production process and their purchasing.
Sales Department:
Sales department forecast the sales. The major responsibilities of this department are, preparing the strategies for expense budget through SBM, and generating the demand in the market through MR. The main goal of sales department is sales achievement.
The flow chart of the operational structure of the department is mention in the following:
The responsibilities of the Sales manager (SM) are as follows:
· Forecasting demand.
· Approving and designing territory and region.
· Critical customer handling that is beyond the authority of the RSE, ASE and MPE.
· Maintaining good relation with the chemists association.
· Donation handling.
· Strategy making and sharing with other department.
· Make the meeting RSE, ASE and MPE with doctors by HR department.
· Identify the lower turnover territory and give input to improve the territory.
The responsibilities of the Regional Sales Executive (RSE):
- Territory development.
- They maintain the relation of key potential customer.
- They take steps to improve the interior product in terms of sales volume.
- Development the supervisor.
- RSE is each region. Each RSE has 5 Area Sales Executive (ASEs).
The Responsibilities of the Medical Promotion Executive (MPE):
- They are responsible for prescription generation by the doctors.
- They make the segmentation of the doctors by class A (doctors having patients more than 30 and less than 30 a day), and Class C (doctors having patient less than 20 a day) based on the business potentiality of the Doctors.
- They design call plans according to the action plan regarding which product is to be promoted, which benefit is to be promoted and to which doctor is to promote that.
Call Doctors Generate Prescription Sells products
Marketing Department:
Beximco Pharma, undoubtedly one of the leading pharmaceutical companies over the last two decades, has made the nation proud with over 400 products in its portfolio. A set of highly qualified and driven Brand executives look after these brands making each stand out on its own through quality, affordability and usefulness.
Depending on the therapeutic category, there are five ‘Center of Excellences’, each of which, in turn is coordinated by a separate head of department.
The responsibilities of the head of the departments are as follows:
- Regulate product’s marketing and follow-up through sales team all over the country: As the marketing plan is a direct product of the extensive and continuous market research done by the company, it includes the market target, presentations on the brands and important aspects like promotional, situational and other factors.
- Organize events: Two monthly sales conferences are held at BPL. The National conference is held at the beginning of the month and it is participated by the top-level management. The given month is ended through the Regional Conference that seeks and maintains participation from Medical Promotion Executives (MPE). Other than these marketing team also arranges events like conferences, launching program, seminars etc.
- Develop and coordinate promotional campaigns: Promotion is rather tedious in the global pharmaceutical industry and although tough, BPL tackles it efficiently. As promotional tools, writing pads, stationer