Introduction
Business is vitally related with our life. With the increase of modern
business, the importance of business studies is being expanded higher and
higher. Relating with the BBA Program Economic Proves it significance in every
way. Analyzing Market system is also important in Economics.
The market structure is divided into four parts: pure competition,
monopolistic competition, oligopoly and pure monopoly. Now I would like to
drawn my attention on monopolistic market, a market dominated by many producers
of defecates. Monopolistic may pellet from internal growth of firms, mergers or
both. The example of monopolistic are retail trade dresses, shoes etc. I am
willing to prepare my report on “SQUARE
PHARMACEUTICALS” which is a monopolistic competitor.
Some common
characteristics of monopolistic competition are given below:
(a) Product Differentiation
(b) Existence of many firms supplying the market
(c) The goods made by them are close substitutes
(d) Some control over price
(e) Relatively
easy entrance into the market etc.
Based on the analysis, the effects of monopolistic competition are as
follows:
i. Unlike pure competition, under monopolistic competition,
output is slightly less and the prices slightly higher.
ii. Under monopolistic competition, the consumers have the
Pleasure of enjoying the use of wider range of goods in types, design and
quality.
iii. The firms engage in high Pressure salesmanship, the
expenditure on which does not confer on the community proportional benefit.
iv. Under monopolistic competition, inefficient firms are helped
to carry on.
I am so much interested in “SQUARE PHARMACEUTICALS” because it is doing
best as one of the pharmaceuticals of our country.
BACKGROUND
I am a student of Department of
Marketing. So, in future I am going to deal with business. Every business firms
needs to prepare report on different occasions. The ability to prepare a report
is regarded as an extra ordinary quality of an executive.
Realizing the fact our honorable
course teacher Mr. Razib Alam ordered us to prepare a report. This report is
especially for the honor of our course teacher.
I think that this report will help me
a lot in my practical life. My errors will also be determined and corrected.
Thus it’s a great opportunity for me. I am again thankful to my honorable
course teacher Mr. Razib Alam.
OBJECTIVES
Main Objective:
To identify the activities of Square
Pharmaceuticals as a monopolistic market model.
Specific Objectives:
METHODOLOGY
Methodology means how resources are used to produce anything. It is a
step by circle to make report systematic and more accurate. I have followed a
methodology to prepare the report on Square Pharmaceuticals as a monopolistic
market.
–Source of data: Secondary data is collected.
–Data collection technique: Own website of Square Pharmaceuticals.
–Sample size: No separate
sample is used to continue the methodology.
Literature review:
* Monopolistic
competition refers to a market situation in which there are many producers
producing goods, which are close substitutes of one another on where output is
differentiated
– K.K. Duet.
·
A firm under monopolistic competition
or imperfect competition produces an output in the long run equilibrium, which
is less than socially optimum or ideal output.
– Chamberlin and
Juan Robinson
* Monopolistic
competition involves a relatively large number of firms operating in a no
collusive way and producing differentiated Products with easy industry entry
and exit.
–
Mc Connel and Brue
·
An industry structure such as that described
above shares elements of both competition and monopoly, it is referred to as
monopolistic competition.
— Hal R. Varian
* Monopolistic
competition resembles perfect competition in three ways there is many buyers
and sellers entry and exit are easy and firms take other firms’ Prices as
given. The distinction is that Products are identical under perfect
competition, while under monopolistic competition they are differentiated.
–Samuelson, Nordhaus
·
There is competition, which is keen,
through not perfect, between man y firms making very similar Product
–A. W. Stonier and
D.C Hague.
Organizational
Profile
SQUARE
Pharmaceuticals
Limited is the largest pharmaceutical company in Bangladesh and it has been
continuously in the 1st position among all national and
multinational companies since 1985. It was established in 1958 and converted
into a public limited company in 1991. The sales turnover of SPL was more than
Taka 5 Billion (US$ 90 million) with about 15% market share (April 2003 ? March
2004) having a growth rate of about 16%.
From
the inception in 1958, it has today burgeoned into one of the top line
conglomerates in Bangladesh. Square Pharmaceuticals Ltd., the flagship company,
is holding the strong leadership position in the pharmaceutical industry of
Bangladesh since 1985 and is now on its way to becoming a high performance
global player.
LOOKING BEYOND THE HORIZON:
SQUARE
Pharmaceuticals Limited has extended her range of services towards the highway
of global market. She pioneered exports of medicines from Bangladesh in 1987
and has been exporting antibiotics and other pharmaceutical products. This
extension in business and services has manifested the credibility of Square
Pharmaceuticals Limited.
SQUARE STRIVES FOR:
·
SQUARE strives, above all, for
top quality health care products at the
least cost reaching the lowest rungs of the economic class of people in the
country. It values its social obligations.
·
It owes to its
shareholders and strives for protection of their capital as well as ensures
highest return and growth of their assets.
·
It strives for best compensation to all
the employees who constitute the back-bone of the management and operational
strength of the Company through a pay-package composing salary/wages,
allowances, bonus, profit participation, leave salary and superannuation &
retirement benefits.
·
SQUARE strives for best
co-operation of the creditors & debtors the banks & financial
institutions who provide financial support when it needs them, the suppliers of
raw materials & suppliers who offer them at the best prices, the providers
of utilities-power, gas & water etc. and the customers who buy its products
& services by redeeming their claim in time by making prompt payment and by
distributing proper product on due dates.
·
It strives for fulfillment of responsibility
to the Government through payment of entire range of due taxes, duties, and
claim to various public agencies.
·
It strives, as responsibilities citizen,
for a social order devoid of malpractices, anti-environmental behaviors,
unethical and corruptive dealings.
·
It strives for practicing good
governance in every sphere of activities covering inter alia not being limited
to, disclosure & reporting to shareholders holding AGM in time,
distribution of dividends and other benefits to shareholders, reporting/dissemination
of price sensitive information, acquisition of share by insiders, recruitment
& promotion of staff, procurement & supplies, sale of assets etc. all
that directly and indirectly affect the interest of concerned groups- the shareholders,
the creditors, suppliers, employees, government and the public in general.
|
Last updated on 05/02/2006 |
employees and the society at large, leading to accretion of wealth through
financial and moral gains as a part of the process of the human civilization.
mission is to provide quality & innovative healthcare relief for people,
maintain stringently ethical standard in business operation also ensuring
benefit to the shareholders and other stakeholders.
objectives are to conduct transparent business operations within the legal
& social framework with aims to attain the mission reflected by its vision.
|
|
CORPORATE |
Last updated on 28/ 03/2006 |
Focus:-
vision, mission and objectives are to
emphasize on the quality of product, process and
services leading to growth of the company imbibed with good governance.
Management: Board of Directors
per provisions of the Article of Association, Board of Directors holds periodic
meetings to resolve issue of policies and strategies, recording
minutes/decisions for implementation by the Executive Management.
Management:
Executive Management is headed by the Managing Director, the Chief Executive
Officer (CEO) who has been delegated necessary and adequate authority by the
Board of Directors. The Executive Management operates through further
delegations of authority at every echelon of the line management. The Executive
Management is responsible for preparation of segment plans/sub-segment plans
for every profit centers with budgetary targets for every item of goods &
services and is held accountable for deficiencies with appreciation for
exceptional performance. These operations are carried out by the Executive
Management through series of committees, sub-committees, ad-hock committees,
standing committees assisting the line management.
|
Last |
range of dosage forms like –
|
|
(Total Dosage Form = 190 Nos.) Non-Coated Coated (sugar Sustained/Extended |
|
|
|
(Total Granulated Material filled Pellets Filled |
|
|
Suppositories: |
(Total Dosage Form = 08 Nos.) Suppocire based |
|
|
|
(Total Dosage Form = 41 Nos.) Vials containing Dry Powder for Injections Small Volume Liquid Parenterals |
|
|
|
(Total Dosage Form = 38 Nos.) Oral Syrups (Sugar based, Non-Sugar based) Oral Suspensions Topical Liquids |
|
|
Spray, Drops, |
(Total Dosage Form = 56 Nos.) Small Volume Sterile Eye & Ear Drops Small Volume Nasal Drops & Sprays Topical Ointments & Creams Topical Antibiotic Powder |
|
|
Oral Dry |
Total Dosage Form = 30 Nos.) Dry Suspensions (Antibiotic & Anti Infective) Dry Syrups (Antibiotics) |
|
|
Dry Powder |
(Total Dosage Form = 04 Nos.) Partial Filled (Premix) Capsules for Respiratory Tract Application with a |
|
|
Metered Dose |
(Total Dosage Form = 10 Nos.) Pressurized Canisters for Oral use with an Actuator |
|
|
Chemical |
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Channel
time
opened first Depot at Barisal in 1995
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Practices & Climates
with its progressive business outlook, believes and practices corporate work
culture with a classic blend of efficiency and equity. SQUARE
believes in company growth by increasing efficiency level of employees and for
that offering excellent environment and support for skill and knowledge
upgradation. SQUARE
values productivity as the spontaneous contribution of Human Resources.
Strategic Human Resource Development Programs are the energy sources for SQUARE HR for
running towards the zenith of success. Flow of clear and specific information
and justification of queries play the vital role to ensure the market
reputation of SQUARE
as the most trusted and transparent company and it enriches the motivation
level of HR who are the real contributors and owners of his / her own jobs. At SQUARE, HRD
symbolizes the unique blending of professionalism as well as sharing the stress
and success equally like a family where every member has deep concern, feelings
and pride for their own company SQUARE. HR ensures the strong supporting role to develop
& implement HR policy guidelines for ensuring uninterrupted operation and
spontaneous participation to achieve organizational objective as well as
fulfillment of employee needs. HR is maintaining an effective way to deal with
labor union and still no unrest has been recorded as dispute. Personnel working
here are taking care of SQUARE as if it is their own family. Employee-employer
relation is cordial and supporting always.
Ltd: Square Pharmaceuticals Limited is an organization with equal emphasis on
Leadership, Technology, Quality and Passion. Square Pharmaceuticals Ltd. is the
leading branded generic pharmaceutical manufacturer in Bangladesh producing
quality essential and other ethical drugs and medicines. It was established in
1958 and has been continuously in the 1st position among all national and
multinational companies since 1985. And now SQUARE Pharmaceuticals
is set on becoming a high performance global player in the field.
Markets:
Vietnam, Yemen, Uzbekistan, Iraq
Comoro Islands
under Exploration:
Singapore, Thailand
of the Export Operations
Exports pharmaceutical finished products
since 1987
Offers quality products at competitive
price
Offers more than 200 off-patent and
on-patent molecules
Offers facilities for contract
manufacturing
Provides assistance in product promotion
and training in overseas markets
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its inception in 1995, Medical Services Department of SQUARE Pharmaceuticals
Ltd. is committed to disseminate the updated medical information among the
medical community. Besides organizing and conducting scientific seminars,
continuing medical education (CME) programs, the MSD has been publishing a
number of publications including an online medical bulletin. In addition MSD is
involved in Web search for research abstracts, reprint abstracts and papers
from local and international scientific journals, clinical research etc.
Pharmaceuticals as a Partnership Firm
Pharmaceutical market of Bangladesh among all national and multinational
companies
a Public Limited Company
Pharmaceutical shares
production of pharmaceutical bulk products (API).
& Veterinary Products division of Square Pharma starts its operation
standard new Pharmaceutical factory goes into operation built under the
supervision of Bovis Lend Lease, UK .
the-Art Square Cephlosporins Ltd. goes into operation; built under the
supervision of TELSTAR S.A. of Spain as per US FDA/ UK MHRA requirements.
that Provide high quality Product, excellent production facilities and quality
professionals.
country.
different sectors, among them tablet, capsule liquid, cream etc.
established Medical services department.
GPL has crossed numerous milestones in
its Journey.
Possesses an excellent production
infrastructure.
Annual turn over is increasing
successively.
Square is
committed to undertake appropriate review, evaluation and performance
measurement of processes, business activities and Quality Management System for
continual improvement to ensure highest
standard, customer satisfaction,
developing human resources and company’s
growth.
It is having a strongly skilled team
of employees.
It provides better compensation to its
employees.
It maintains social responsibilities
regularly.
Main competitors of Square Pharma are
ACME, GPL,ACI, SK+F, Opsonin etc.
Finally, as it has to face a number of
competitors, it is a monopolistic market model.
several limitations:
Internet browsing.
smoothly. Its administration and employees empowerment are highly impressive.
It exports its products to foreign countries, which is matter of great pride.
is still popular name in medicine industry.
that Square Pharma should takes in training its sales force, the instruction
should be altered to include following topics
idle time.
Productive work.
with past customers.
within reasonable limits.
of moderate pressure, avoiding extremes in either direction.
of the product.
price.Monopolistic Market Competitor of Square
Pharmaceuticals Limited
business, the importance of business studies is being expanded higher and
higher. Relating with the BBA Program Economic Proves it significance in every
way. Analyzing Market system is also important in Economics.
monopolistic competition, oligopoly and pure monopoly. Now I would like to
drawn my attention on monopolistic market, a market dominated by many producers
of defecates. Monopolistic may pellet from internal growth of firms, mergers or
both. The example of monopolistic are retail trade dresses, shoes etc. I am
willing to prepare my report on “SQUARE
PHARMACEUTICALS” which is a monopolistic competitor.
characteristics of monopolistic competition are given below:
easy entrance into the market etc.
follows:
output is slightly less and the prices slightly higher.
Pleasure of enjoying the use of wider range of goods in types, design and
quality.
expenditure on which does not confer on the community proportional benefit.
to carry on.
best as one of the pharmaceuticals of our country.
Marketing. So, in future I am going to deal with business. Every business firms
needs to prepare report on different occasions. The ability to prepare a report
is regarded as an extra ordinary quality of an executive.
course teacher Mr. Razib Alam ordered us to prepare a report. This report is
especially for the honor of our course teacher.
a lot in my practical life. My errors will also be determined and corrected.
Thus it’s a great opportunity for me. I am again thankful to my honorable
course teacher Mr. Razib Alam.
Pharmaceuticals as a monopolistic market model.
step by circle to make report systematic and more accurate. I have followed a
methodology to prepare the report on Square Pharmaceuticals as a monopolistic
market.
sample is used to continue the methodology.
competition refers to a market situation in which there are many producers
producing goods, which are close substitutes of one another on where output is
differentiated
A firm under monopolistic competition
or imperfect competition produces an output in the long run equilibrium, which
is less than socially optimum or ideal output.
Juan Robinson
competition involves a relatively large number of firms operating in a no
collusive way and producing differentiated Products with easy industry entry
and exit.
Mc Connel and Brue
An industry structure such as that described
above shares elements of both competition and monopoly, it is referred to as
monopolistic competition.
competition resembles perfect competition in three ways there is many buyers
and sellers entry and exit are easy and firms take other firms’ Prices as
given. The distinction is that Products are identical under perfect
competition, while under monopolistic competition they are differentiated.
There is competition, which is keen,
through not perfect, between man y firms making very similar Product
Profile
Pharmaceuticals
Limited is the largest pharmaceutical company in Bangladesh and it has been
continuously in the 1st position among all national and
multinational companies since 1985. It was established in 1958 and converted
into a public limited company in 1991. The sales turnover of SPL was more than
Taka 5 Billion (US$ 90 million) with about 15% market share (April 2003 ? March
2004) having a growth rate of about 16%.
the inception in 1958, it has today burgeoned into one of the top line
conglomerates in Bangladesh. Square Pharmaceuticals Ltd., the flagship company,
is holding the strong leadership position in the pharmaceutical industry of
Bangladesh since 1985 and is now on its way to becoming a high performance
global player.
Pharmaceuticals Limited has extended her range of services towards the highway
of global market. She pioneered exports of medicines from Bangladesh in 1987
and has been exporting antibiotics and other pharmaceutical products. This
extension in business and services has manifested the credibility of Square
Pharmaceuticals Limited.
SQUARE strives, above all, for
top quality health care products at the
least cost reaching the lowest rungs of the economic class of people in the
country. It values its social obligations.
It owes to its
shareholders and strives for protection of their capital as well as ensures
highest return and growth of their assets.
It strives for best compensation to all
the employees who constitute the back-bone of the management and operational
strength of the Company through a pay-package composing salary/wages,
allowances, bonus, profit participation, leave salary and superannuation &
retirement benefits.
SQUARE strives for best
co-operation of the creditors & debtors the banks & financial
institutions who provide financial support when it needs them, the suppliers of
raw materials & suppliers who offer them at the best prices, the providers
of utilities-power, gas & water etc. and the customers who buy its products
& services by redeeming their claim in time by making prompt payment and by
distributing proper product on due dates.
It strives for fulfillment of responsibility
to the Government through payment of entire range of due taxes, duties, and
claim to various public agencies.
It strives, as responsibilities citizen,
for a social order devoid of malpractices, anti-environmental behaviors,
unethical and corruptive dealings.
It strives for practicing good
governance in every sphere of activities covering inter alia not being limited
to, disclosure & reporting to shareholders holding AGM in time,
distribution of dividends and other benefits to shareholders, reporting/dissemination
of price sensitive information, acquisition of share by insiders, recruitment
& promotion of staff, procurement & supplies, sale of assets etc. all
that directly and indirectly affect the interest of concerned groups- the shareholders,
the creditors, suppliers, employees, government and the public in general.
|
Last updated on 05/02/2006 |
employees and the society at large, leading to accretion of wealth through
financial and moral gains as a part of the process of the human civilization.
mission is to provide quality & innovative healthcare relief for people,
maintain stringently ethical standard in business operation also ensuring
benefit to the shareholders and other stakeholders.
objectives are to conduct transparent business operations within the legal
& social framework with aims to attain the mission reflected by its vision.
|
|
CORPORATE |
Last updated on 28/ 03/2006 |
Focus:-
vision, mission and objectives are to
emphasize on the quality of product, process and
services leading to growth of the company imbibed with good governance.
Management: Board of Directors
per provisions of the Article of Association, Board of Directors holds periodic
meetings to resolve issue of policies and strategies, recording
minutes/decisions for implementation by the Executive Management.
Management:
Executive Management is headed by the Managing Director, the Chief Executive
Officer (CEO) who has been delegated necessary and adequate authority by the
Board of Directors. The Executive Management operates through further
delegations of authority at every echelon of the line management. The Executive
Management is responsible for preparation of segment plans/sub-segment plans
for every profit centers with budgetary targets for every item of goods &
services and is held accountable for deficiencies with appreciation for
exceptional performance. These operations are carried out by the Executive
Management through series of committees, sub-committees, ad-hock committees,
standing committees assisting the line management.
|
Last |
range of dosage forms like –
|
|
(Total Dosage Form = 190 Nos.) Non-Coated Coated (sugar Sustained/Extended |
|
|
|
(Total Granulated Material filled Pellets Filled |
|
|
Suppositories: |
(Total Dosage Form = 08 Nos.) Suppocire based |
|
|
|
(Total Dosage Form = 41 Nos.) Vials containing Dry Powder for Injections Small Volume Liquid Parenterals |
|
|
|
(Total Dosage Form = 38 Nos.) Oral Syrups (Sugar based, Non-Sugar based) Oral Suspensions Topical Liquids |
|
|
Spray, Drops, |
(Total Dosage Form = 56 Nos.) Small Volume Sterile Eye & Ear Drops Small Volume Nasal Drops & Sprays Topical Ointments & Creams Topical Antibiotic Powder |
|
|
Oral Dry |
Total Dosage Form = 30 Nos.) Dry Suspensions (Antibiotic & Anti Infective) Dry Syrups (Antibiotics) |
|
|
Dry Powder |
(Total Dosage Form = 04 Nos.) Partial Filled (Premix) Capsules for Respiratory Tract Application with a |
|
|
Metered Dose |
(Total Dosage Form = 10 Nos.) Pressurized Canisters for Oral use with an Actuator |
|
|
Chemical |
||
Channel
time
opened first Depot at Barisal in 1995
|
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|
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|
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Practices & Climates
with its progressive business outlook, believes and practices corporate work
culture with a classic blend of efficiency and equity. SQUARE
believes in company growth by increasing efficiency level of employees and for
that offering excellent environment and support for skill and knowledge
upgradation. SQUARE
values productivity as the spontaneous contribution of Human Resources.
Strategic Human Resource Development Programs are the energy sources for SQUARE HR for
running towards the zenith of success. Flow of clear and specific information
and justification of queries play the vital role to ensure the market
reputation of SQUARE
as the most trusted and transparent company and it enriches the motivation
level of HR who are the real contributors and owners of his / her own jobs. At SQUARE, HRD
symbolizes the unique blending of professionalism as well as sharing the stress
and success equally like a family where every member has deep concern, feelings
and pride for their own company SQUARE. HR ensures the strong supporting role to develop
& implement HR policy guidelines for ensuring uninterrupted operation and
spontaneous participation to achieve organizational objective as well as
fulfillment of employee needs. HR is maintaining an effective way to deal with
labor union and still no unrest has been recorded as dispute. Personnel working
here are taking care of SQUARE as if it is their own family. Employee-employer
relation is cordial and supporting always.
Ltd: Square Pharmaceuticals Limited is an organization with equal emphasis on
Leadership, Technology, Quality and Passion. Square Pharmaceuticals Ltd. is the
leading branded generic pharmaceutical manufacturer in Bangladesh producing
quality essential and other ethical drugs and medicines. It was established in
1958 and has been continuously in the 1st position among all national and
multinational companies since 1985. And now SQUARE Pharmaceuticals
is set on becoming a high performance global player in the field.
Markets:
Vietnam, Yemen, Uzbekistan, Iraq
Comoro Islands
under Exploration:
Singapore, Thailand
of the Export Operations
Exports pharmaceutical finished products
since 1987
Offers quality products at competitive
price
Offers more than 200 off-patent and
on-patent molecules
Offers facilities for contract
manufacturing
Provides assistance in product promotion
and training in overseas markets
|
|
|
|
|
||||||
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|
|
|
its inception in 1995, Medical Services Department of SQUARE Pharmaceuticals
Ltd. is committed to disseminate the updated medical information among the
medical community. Besides organizing and conducting scientific seminars,
continuing medical education (CME) programs, the MSD has been publishing a
number of publications including an online medical bulletin. In addition MSD is
involved in Web search for research abstracts, reprint abstracts and papers
from local and international scientific journals, clinical research etc.
Pharmaceuticals as a Partnership Firm
Pharmaceutical market of Bangladesh among all national and multinational
companies
a Public Limited Company
Pharmaceutical shares
production of pharmaceutical bulk products (API).
& Veterinary Products division of Square Pharma starts its operation
standard new Pharmaceutical factory goes into operation built under the
supervision of Bovis Lend Lease, UK .
the-Art Square Cephlosporins Ltd. goes into operation; built under the
supervision of TELSTAR S.A. of Spain as per US FDA/ UK MHRA requirements.
that Provide high quality Product, excellent production facilities and quality
professionals.
country.
different sectors, among them tablet, capsule liquid, cream etc.
established Medical services department.
GPL has crossed numerous milestones in
its Journey.
Possesses an excellent production
infrastructure.
Annual turn over is increasing
successively.
Square is
committed to undertake appropriate review, evaluation and performance
measurement of processes, business activities and Quality Management System for
continual improvement to ensure highest
standard, customer satisfaction,
developing human resources and company’s
growth.
It is having a strongly skilled team
of employees.
It provides better compensation to its
employees.
It maintains social responsibilities
regularly.
Main competitors of Square Pharma are
ACME, GPL,ACI, SK+F, Opsonin etc.
Finally, as it has to face a number of
competitors, it is a monopolistic market model.
several limitations:
Internet browsing.
smoothly. Its administration and employees empowerment are highly impressive.
It exports its products to foreign countries, which is matter of great pride.
is still popular name in medicine industry.
that Square Pharma should takes in training its sales force, the instruction
should be altered to include following topics
idle time.
Productive work.
with past customers.
within reasonable limits.
of moderate pressure, avoiding extremes in either direction.
of the product.
price.Monopolistic Market Competitor of Square
Pharmaceuticals Limited