Of Beximco Textiles Ltd.
ACTIVITIES OF THE ORGANIZATION
Since the inception, Beximco Group became the pioneer of head hunting for all of their Fields and successfully accumulated the best talents from within the country as well as from abroad and could make an excellent environment to flourish their qualities and capabilities by utilizing their capacities in the process of manufacturing, maintenance and of course in the management in broad. The human resources engaged in Beximco Group are getting the best value of their potentials and never look anywhere other than significantly contributing their highest efforts for the continuous development of the company.
The ideal management of human resources in Beximco Textiles ensured nurturing of the potentials of these talents through working in an environment having the state of the art production facilities and getting the satisfaction of job and reward, On the other hand the company, employer of the highest number of professional including the MBAs, CAs, CMAs, experts having the doctors of philosophy (PhDs) has the proud to be the largest employer of the country and has the strength of making things simply possible which is always being difficult for the competitors and ‘impossible’ to the others.
Beximco Textiles Limited a company of continuously maintaining the best employee- management communication & relationship abiding by the Internationally recognized and certified standard of compliance has ensured not only recruiting the best manpower but also has the record of retaining them through whom the company brought the sheer success of achievements in the textiles and garments. The story of success, achievements and the glory of the company as well as the division or the Group as a whole is nothing but the participation of it’s human resources and of course, conforming of all the compliance issues starting from the level of A to Z i.e. production up-to the feeding of products into the market.
Most important feature:
* Textiles product price is competitive.
* Different package.
* Design/Getup is very attractive.
* Product using in all over the world.
* Attractive & effective promotional activities.
* Good HRD management.
* Strong capital structure.
* Different test in product mix.
* Strong distribution network
* Different manufacturing zone for frequent distributional.
* Strong marketing/sales force.
Recently company introduces a new Brand Name is Beximco which is fulfill the customer demand in our country.
PRODUCTS: BEXIMCO TEXTILES LTDs. Annual production, capacity is currently 32 million liner meters. The products of BEXIMCO TEXTILES LTD are Shirt, Jens Pant, Ladies T-Shirt, Denim Jeans, Child wear, Women’s wear etc. besides this they are now producing stretch Denim Slub Denim Tinted Denim, Shredded as per buyers requirement BEXIMCO Group operating this foundry business since 1990. They operate this business because they have a lot of experience at this business.
In this whole world there is a great demand of Bangladeshi Garments Products and now probably this is the prime items to export and earn foreign currency, so we can say BEXIMCO TEXTILES LTD. developing our export percentages and earning foreign currency which is affecting in our national income and our economic growth also.
BEXIMCO TEXTILES LTD is still producing the Garments items. They only produce quality products-Only this reasons though there is enough Textiles factory in Bangladesh but they are still leading the market. There products has good demand all over the world. The major buyers of this textile factory are, ZARA, JC Penny, PVH, Ashchity, Levies, Contton Groups, Mayoral, H&M, Charter House, Hanes, Matalan, Vanthusan etc.
BEXIMCO TEXTILES LTD. is a very creative company. They always try to present different products of customer’s demands. Their management pays close attention they are so much struck that if anybody copping their products they instantly take legal actions.
Price is very much related with the products quality. It is very much critical for the company to take any decisions on the basic of price. This is one of the most important strength for the company. BEXIMCO TEXTILES LTD. always produces quality products. They cannot negotiate with their quality. So they always Use quality raw materials. They use imported raw materials, to maintain their products quality. They mainly import raw materials from India, and China, most of the imported products must need to pass a justified limits. The major raw materials of any Textiles are Cotton and Fabric Color. The main source of this item is China and India scrap is Chittagong, so they also need to pay a lots of money for the import some raw material. So the manufacturing, price increase a little bit. But considering the above quality the price is not consider high. So they don’t believe in price dumping Unnecessary. The price of BEXIMCO TEXTILE LTD. Products are always stagnant, BEXIMCO TEXTILE LTD. always try to sells their products at very reasonable price, and nominal profit, which is not over burdened for customers.
|Year||Production (in Meter)||Tk.|
|2006||31.67 million||4289.58 million|
|2005||25.55 million||3399.91 million|
|2004||21 .62 million||2628.74 million|
Price List & Pack Size
|fo Brand||Size||Price (in Euro )|
|Verities Child Wear||30-80|
PLACE (DISRIBUTION CHANNELS)
For any company’s marketing activities. Place is very much important. Place prays a very important role, on business. BEXIMCO TEXTILE LTD. established commercial production at 1985. Proper distribution channel selecting is very effective for a business operation. The corporate head office of BEXIMCO TEXTILES LTD. BEL-TOWER, Road No-1, Dhnomnid, Dhaka. Now it is at BEXIMCO INDUSTRIAL PARK, Kashimpur, Gazipur. It’s a large set up and world standard. Any buyer must be conversed if they visit this park. H is near DEPZ. So there is no problem to distribute the product. Beximco Textiles Ltd give all the customers same importance, it situated such as place which is well connected by high way and Its only need one hour to reach the Airport or through its own vehicles one and an half hour to reach the Kamlapur Railway Station.
BEXIMCO TEXTILES LTDs. environment, facilities, technology, securities are World standard. Always try to fulfill their client’s regiment. They give all importance the customer’s opinion.
BEXIMCO TEXTILES LTD. Fracture facilities, like national greed line of electricity, Gas connection, and they have water connections. So that BEXIMCO TEXTILES LTD. gets opportunity to operate their business soundly. Though BEXIMCO TEXTILES LTD. is established at Gazipur but trough their proper distribution channel this products travel everywhere of the world, by the brand name BEXIMCO LTD. BEXTMCO TEXTILES LTD, their own marketing force they have for the all over the world.. This company has 10 marketing office all over the world and four showroom. Beside this BEXIMCO TEXTILES LTD. manufacture this product for Europe, America, Middles countries. Europe is the biggest market for BEXIMCO, then USA, and middles. Now for local people for a small range BEXIMCO introduce to new brand name BEXIMCO yellow and cotton. They maintain close observation to the market so that nobody can use any fake products by using their company name or brand BEXIMCO TEXTILES LTD. has large transport facilities. They can provide their own transport to send their products from their factory to any buyers.
Having evaluated different segments BEXIMCO TEXTILE LTD. applied the full market coverage tragedy. Here the firm attempts to several customers with all the products they need. Specially BEXIMCO TEXTIEL LTD. produce is product for Europe, America, Asia and middles countries. BEXIMCO TEXTIEL LTD product is product for export from 1995. BEXIMCO TEXTIEL LTD. going product some excellence products like Jacket, Shirt, Denim Jeans, T-Shirt, for the local people and the foreigner. The product which is available for local people is also world class standard.
So, in this basis of export quality we can segment the market like following way:-‘
Company of Opportunity:
In order to service customers in a more efficient manner your company has moved its Marketing IT, MIS, HRD, Logistics, Commercial, Finance & Accounts, Administration and Central Procurement to the Industrial Park. This has resulted in much better co-ordination improving customer service thereby. Your company has established a central planning department for smoother order planning and monitoring.
The vision of BEXIMCO for the year 2005 and beyond is of innovation, speed and service driven marketing whereby customers* faith and BEXIMCO’s capabilities are enhanced in a financially beneficial way JC Penny ZARA, PVH among others
Is a good example of this strategy as their volumes have grown and promised to grow further? We are trying to add new customers to our customer profile. Targeting on new customers, we participated in different trade fairs all over the world.
Beximco Textiles Ltd., the fabric-manufacturing unit of Beximco Textiles Division has the accumulation of unique human capital of diversified talents who plays the vital role in managing such a world-class facilities to be the business partner of the world’s reputed and top ranking customers in the field of global textiles and apparels market.
The management of Beximco Textiles Limited knows the saying “our people are our greatest asset” is not a slogan to put in an annual report, but a bottom line business reality. No company can provide exceptional service, achieve innovative breakthroughs, or respond rapidly to the current highly competitive marketplace changes with an unmotivated, overwhelmed, or burnt out workforce. They know that today’s marketplace; organizations compete not just on productivity but on knowledge, service, and organizational responsiveness. To survive, they need to be fast, flexible, focused, friendly and smart.
Thus Beximco Textiles Limited endlessly strives to achieve the best output, by recruiting, developing, improving and properly utilizing its human capital. The company through an excellent environment in the Human Resources management has a very good employee-management communication & relationship, attractive remuneration, benefits & incentive schemes, superb working condition maintaining the International standard of compliance have ensured the highest level of job satisfaction and resulted to retaining of skilled manpower to ensure the sky-high success for the company.
There are some significant factors, which contributed Beximco Textiles Limited to reach the sky and being in the front row among the world class competitors, which can be highlighted as follows:
The company never compromises to select the right people, for the right position at the right time. It always prefers and encourages its people to work in a team environment with an appropriate team spirit because the company strongly feels that all its people should be role driven than personality driven.
All employees have their own defined roles toplay in an independent manner
They are guided by having their own job description
For all processes and operations, Standard Operating Procedures (SOP) are developed, maintained and available
All company rules, regulations and policies are documented and easily accessible for the employees
Company provides intensive orientation prior to being assigned to the job
A very scientific and effective employee performance appraisal system exists which helps to monitor standards of employee performance and at the same time enables the management to observe and resolve the weaknesses and shortcomings that the people have
At Beximco Textiles Limited there is a positive and two -way communication amongst all levels and is regularly administered in such a way, where the people feel they can express and share their ideas, thoughts, discomfort and grievances on various personal and management issues
The company provides a very competitive remuneration and auspicious facilities and benefits for its employees
The company has developed and maintained very clear and transparent guidelines for employee career progression
By focusing on the above mentioned points the ultimate outcome of people management has been an effective one by making the people more responsive, proactive, and loyal and committed towards their work.
STAFF’S OF BEXIMCO TEXTILES LTD.
Beximco Textiles division is one of the largest bodies in our countries textiles sector. It has six individual units. Those are
ü Beximco Textiles Ltd.
ü Padma Textile Mills Limited.
ü Beximco Apparels Limited
ü Beximco Fashionss Limited
ü Beximco Knitting Limited
ü Beximco Denims Limited
These six individual units all together known as Beximco Textiles. These six individual units have their own Finance & Accounts Dept, Marketing Dept, Commercial Dept, Merchandising Dept & others departments, but they are controlled by the one Human Recourses & Compliance Department.
Almost 500 (five hundred) executives and 7,000 (seven thousand) non-management staffs working in Beximco Textiles Ltd.
Here we only discuss about the ‘Performance Appraisal” procedure of the Executives.
PERFORMANCE APPRAISAL OF EXECUTIVES IN BEXIMCO TEXTILES LIMITED
An organization’s goals can be achieved only when people put in their best efforts. How to ascertain whether an employee has shown his or her best performance on a giving job? The answer is performance appraisal. Employee assessment is one of the fundamental jobs of HRM, but not an easy one thought.
MEANING AND DEFINITION OF PERFORMANCE APPRAISAL:-
In simple terms, performance appraisal may be understood as the assessment of an individual’s performance in a systematic way, the performance begin measured against such factors as job knowledge, quality of output, initiative, leadership ability, supervision, dependability, co-operation, judgment, versatility, health and the like. Assessment should not be confined to past performance alone. Potentials of the employee for future performance must also be assessed.
A more comprehensive definition is:-
Performance Appraisal is a formal structured system of measuring and evaluating an employee’s job related behavior and outcomes to discover how and why the employees is presently performing on the job and the employee can perform more effectively in the future, so that the employee, organization and society all benefit.
The second definition includes employee’s behavior. Behavior can be active or passive – do something or do nothing. Either way, behavior affects job results. The other terms used for performance appraisal are performance rating, employee assessment, employee performance review, personnel appraisal, performance evaluation, employee evaluation, merit rating etc.
PROCESS OF APPRAISAL:- The following outlines is the performance appraisal process. Each step in the process is crucial and is arranged logically
WHOSE PERFORMANCE SHOULD BE RATED:-To the question as to whose performance should be rated, the answer is obviously – employees? When say employees is it individuals or group? Especially the rate may define as the individuals. Work group, division or organization.
Work Group Level – For merit pay
Individual Level – To assess target needs.
WHAT SHOULD BE RATED? :-
As we know that there are two kind of nature which is rated. That’s are
(1) Objective of Nature
(2) Subjective of Nature
Objective of Nature:-
Quality: – The degree to which the process of result of carrying out an activity approaches perfection in terms of either is conforming to some ideal way of performing the activity’s intended purpose.
Quantity: – The amount of product, expressed in monetary terms, number of units or number of completed activity cycles.
Time lines: – The degree to which an activity is completed or a result produced, at the earliest time desirable from the standpoint of both coordinating with the outputs of others and of maximizing the time available for other activities.
Cost Effectiveness: – The degree to which the use of the organization’s resources is maximized in the sense of getting the highest gain.
Subjective of Nature:-
Need of Supervision: – The degree to which a job performer can carry out a job function without either has to request supervisory assistance requiring.
Interpersonal Impact: – The degree to which measure the environment where employee is working.
WHO ARE RATERS? :-
Raters can be immediate supervisor, specialists from HR department, subordinates, peers, committees, clients, self-appraisal or a combination of several.
Subordinates can assess the performance of their superiors.
Peers are in a best position to evaluate the job performance.
Self-appraisal or a combination of several.
Now we will look at special ways in which HRM can actually establish performance standards and devise instruments that can be used to measure and appraise an employee’s performance. Three different approaches exist for doing appraisal; employees can be appraised against –
I. Absolute Standers
II. Relative Standards
No one approach is always best: each has its strength and weakness.
IN WHAT WAYS CAN ONE EVALUATE ABSOLUTE STANDERD ?
Our first group of appraisal methods uses ABSOLUTE STANDERD. These means that employees are compared to a standard: and their evaluation is dependent of any other employee in a work group. Include in this group are the following methods:
- The Essay Appraisal :-
A Performance Appraisal method whereby an appraiser writes a narrative about the employee.
- The Critical Incident Appraisal
A Performance Appraisal method that focuses on the key behaviors that’s make the difference between doing a job effectively or ineffectively.
- The Checklist Appraisal
A Performance Appraisal type in which a rater checks off those attributes of an employee that applies.
- The Adjective Rating Scale Appraisal
A Performance Appraisal method is that lists a number of traits and range of performance for each.
- The Forced-Choice Appraisal
A type of Performance Appraisal method in which the rater must choose between two specific statements about an employee’s work behavior
- The Behaviorally Anchored Rating Scale
A Performance Appraisal technique is that generates critical incidence and develops behavioral dimensions of performance. The evaluator appraises behaviors rather than traits.
WHAT ARE THE RELATIVE STANDARDS METHODS? :-
In the second general category of appraisal methods, individuals are compared against other individuals.
I. Group Order Ranking :-
Evaluating an employee’s is performance by comparing the employee with other employees.
II. Individual Ranking :-
Ranking employees’ is performance from highest to lowest.
III. Paired Comparison :-
Ranking individuals performance by counting the number of times any one individual is the preferred with all other employees.
Management by Objectives :- (MBO)
A performance Appraisal method that includes mutual objective setting and evaluation based on the attainment of the specific objectives.
MBO’S advantages lie in its results oriented emphasis. It assists the planning and control functions and provides motivation, as well as being an approach to performance appraisal. That’s because employees know exactly what is expected of them and how they will be evaluated. Moreover, employees understand that their evaluation will be based on the success in achieving mutually agreed-on objectives.
The major disadvantage of MBO is that it is unlikely to be effective in an environment where management has little trust in its employees. This type of environment could be one where management makes decisions autocratically and relies heavily on external controls to direct employee behavior. The amount of time needed to implement and maintain an MBO process may also cause problems.
FACTORS THAT CAN DISTORT APPRAISAL:-
The tendency to let our assessment of an individual on one trait influence our evaluation of that person on their specific traits
Evaluating employees based on the way an evaluator perceives him-self or herself
The tendency is of a rater to give average ratings.
A theory of performance evaluation based on the perception of who is control of an employee’s performance.
How an employee influence the relationship with a supervisor.
A means by which performance appraisal can be distorted by evaluating employees against one’s own value system
THE WAY IS OF MAKING PERFORMANCE APPRAISAL IN BEXIMCO TEXTILES LTD.
As we know that there are many methods to making Performance Appraisal. A business organization can apply any one of them. We find that in Beximco Textiles Ltd. basically follow Checklists method. Here at the end of the one year, through E-mail a printed form is send to all the executives from HR department. There is some quarry in that form about the employees like Name, Designation, Department, Reporting Supervisor, Job description, Functional area etc. Every executive from Jr. Executive to Sr. General Manager should fill up that form if they need appraisal. After fill up that form they should send it to the HR department through E-mail within fixed date. Generally at the beginning of a new year (month of January) that forms is send to the executives. They get maximum 15 days to fill it up and submit. HR executives submit their form to the head of the department, and the head of the department of HR send his appraisal form to the C.E.O. After the directors the C.E.O is the al in al of the whole Textiles. So he don’t need to appraisal for promotion, but there is a chance to increase his salary and the others facilities. Therefore he is also submitting his appraisal form to the directors, because without directors no one can increase his salary or can’t give self promotion. Its took two – three months to publish the appraisal report. But it effects from the beginning of the year, it means the appraisal is counted from the January. Those who get promotion or get increment they get a “CONGRATULATION” card from HRD with a stick of rose. It’s not easy to get permission every year but in Beximco Textiles everybody get increment every year. The company deduct the tax from the salary those who eligible for that. There is no overtime for the executives. That’s why most of the assistant didn’t want promotion; because we find that with all remuneration a assistant earn more than an executives.
WHO ARE THE RATERS?
Raters can be immediate supervisor, specialists from HR department, subordinates, peers, committees, clients, self-appraisal or a combination of several. Here we find that in Beximco Textiles Ltd. raters are the specialists from HR department. We find here that every kind of specialist is available here. We also find that almost 15-20 Chartered Accounts working here in Finance & Accounts department. Lots of foreigner (from India, Pakistan, Sri-lanka, Denmark, Holland) working here. We are telling this history because in every department we find lots of specialist. Obviously in HR department also. There is some very high quality specialist serving in the HR department. Some of them are 30 years experienced.
HOW THE RATERS WORK?
At first the specialists selected the item for the appropriate information about the employee. So they prepare preliminary appraisal sheet for collect the information. There they include employees name, department, reporting supervisor, job description, scope of working etc. Through E-mail they send this information collection sheet to the all executive, with this sheet they also send a forwarding letter where they describe some points like – scope, the last date of submitting the sheet etc. After ending the last date they (HR person) took the print copy (hard copy) which they get from the executives. Then they set a panel for analyzing all the sheets. Sometimes they themselves collect information for justifying the statement. After collecting everything the panel then decides is he or she eligible for promotion or only for increment. Thus they prepare the Performance Appraisal sheet. Here we should remember that no executives can’t eligible for the Performance Appraisal if he or she didn’t pass one working year after successfully
Distort OF THIS KIND OF APPRAISAL:-
As we know that there are three kind s of Performance Appraisal used in the business organization. But we also know that –
No one approach is always best: each has its strength and weakness.
The Performance Appraisal process and techniques that we have suggested present system in which the evaluation is free from personal biases, prejudices, and idiosyncrasies. This is defended on the basis that objectivity minimizes the potential arbitrary and dysfunctional behavior of the evaluation, which may be detrimental of the achievement of the organizational goal. Thus our goal should be to use direct performance criteria possible.
Obviously in every method there is some distorting. The following distort we find in the method which is applying in Beximco Textiles Ltd
There are some distort in the system which is followed by the Beximco Textiles. Sometimes the employees can give excess information or work description in which he is not involved.
Sometimes the employees can’t understand what he/she will actually describe in the column of Scope and Report Produce.
In this method the specialist has a chance to be appearing in conflict with the others panel members.
There is a great chance for the panel members to do partiality. One or more panel members may have their loving employees. So in the appraisal they might try to give them priority than others.
In the big organization like Beximco Textiles there we can expect “Conflict”. Some managers might have conflict with the person who is the honorable member of the panel. In that case that member applies all his power to stop that manager’s promotion.
Some panel members may have the bad impression about some units. In that case they didn’t fill interest to give promotion of those particular unit executives.
Lastly we can say that “A completely error-free performance appraisal is only an ideal we can aim for. In really, most appraisals fall short of this idea. This is often due to one or more actions that can significantly impede objective evaluation.
As we found that in every method there is some error. No one approach is always best: each has its strength and weakness. So individually no method is so strong to apply. Our suggestion is that try to be honest from your mind and apply it in your work. No matter what method you are applying. Mind it do not do an injustice to anybody, because somewhere, somehow you will get its return. One increment or promotion can change some bodies’ life. So be clear to your mind when you are in that position.
It’s better for the organization to mix some method which is appropriate for their own and apply in the partial field. Collect some good side from some method and prepare an appraisal policy. Apply it in the organization to reach the organization in its destination
You should remember that “An organizations goal can be reached only when people put their best efforts. How to ascertain whether an employee has shown his or her best performance on a giving job? The answer is Performance Appraisal” Select the right person and give them award through “Performance Appraisal”. Then they will give their best effort for the organization.