Background of The Company: Vision Statement of Squre Pharmaceuticals

BACKGROUND OF THE COMPANY
Square Pharmaceutical limited belongs to square group of industries. Square company is on of

the largest groups in Bangladesh. Square was founded in 1958 by Samson H Chowdhury along
with his three friends as a private firm. It went public in 1991 and is currently listed on Dhaka
stock Exchange. Square Pharmaceutical Ltd, the flagship company, is holding the strong
leadership position the pharmaceutical industry of Bangladesh. Since 1985 it has been in the
first position among all national and multinational companies. Square Pharmaceutical Ltd is
now on its way to becoming a high performance global player. Square industries sector also
includes textiles, toiletries, food and beverage, health care products, information technology,
hospital so on. Square is not only doing its business much successfully but it strictly follows
corporate social responsibility.
VISION STATEMENT OF SQURE PHARMACEUTICALS:
We view business as a means to the material and social wellbeing of the investors, 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 STATEMENT OF SQURE PHARMACEUTICALS:
Our Mission is to produce and provide quality & innovative healthcare relief for people,
maintain stringently ethical standard in business operation also ensuring benefit to the
shareholders, stakeholders and the society at large.
OBJECTIVE OF THE COMPANY:
Our objectives are too conducting transparent business operation based on market mechanism
with the legal and social frameworks with aims to attain the mission reflect by our vision.
GOAL OF THE COMPANY:
Dedicated to make every effort to understand consumer needs to provide maximum satisfaction
and to achieve market leadership. Strive to continuously upgrade manufacturing technology and
to maintain optimum level of quality measures in conformity with the international standard.
Committed to achieve quality objective through continuous employee training and maintaining
congenial working environment.
4
SWOT ANALYSIS OF THE SQUARE PHARMACEUTICAL LTD:
A SWOT analysis identifies and assesses the strengths, weakness, opportunities and threats an
organization faces. SWOT analysis of the SPL (Supreme Pharmaceutical Ltd) illustrates to
upper management what the company is excelling in, what improvement need to be made,
where growth is possible and what preemptive measure need to taken to protect shareholder or
company value.
STRENGTHS:
 Highly experienced senior executive some of whom,

 Has local and international significant pharmaceutical literature,
 Good reputation with high image,
 Efficient, skilled, experienced and dedicated staff members,
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 Large customer base and product development capabilities and outstanding professional
services,
 Resources are available in Bangladesh,
 Square pharmaceutical is able to make benchmarking medicines,
 Increasing presence in the market,
 Regulatory performance is strong and positive,
 Employee mobility is lower than that of its rivals.
WEAKNESS:
 Non-availability of high technology,

 Everything is not organized,
 Maximum time employees are use paper work,
 Time consuming decision-making process,
 Incorrect method for collecting resources and inventory management,
 Minimum profit in comparison with others.
OPPORTUNITIES:
 Government support,
 Banking and information technology,
 Credit line with well-known foreign bank can gear up its foreign exchanges business,
 Entering in new arena product helps to grow customer confidence,
 Opportunity to take market share away rom rivals by offering new innovation product or
services,
 Opportunity to enter into the global market.
THREATS:
 Hiking price of raw materials: more and more factories, especially small ones, are facing
closure due to price hike of raw materials. As the company has just entered in the market,
it will be a great threat for us.
 Inadequate power supply: the industry sources also blame lack of adequate power supply
for making the industry more vulnerable.
 We have to face the same problem here and for this many industries are shitting down
now days
 Competitors are offering innovative new product and services regularly matching them is
really hard.
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RECOMMENDATION:
 The company should revise the recruitment selection policy for the executive level and
also further research is needed to find out the reason of their dissatisfaction which will be
easy in solving problems because the manager, non executive and field forces are
satisfied.
 Succession planning can be introduced in the company before the retirement of any
employee. This process will stop contract employment policy because through contract
employment the employee is not allow getting all the facility and benefits from square as
other employees, which lead to job dissatisfaction.
 The interior design of the office should to be changed to be able to compete with other
national and multinational company in this country and also it will motivate the
employees and retain high skilled employees.
 Paper work need to be reduce and increase the computer skilled of the existing employees
to do the work more smoothly and faster which took more time before using the modern
technical. Make sure the proper utilization of working time by increase the
communication in and outside the company.
 To take the necessary steps and action, to increase customer satisfaction level and to
recover the above problems, further research is needed for the company which will
include new innovative product same of the market place but should cumulative
difference and price might be same then the companies product sell will increase and
customer will increase.
Some other recommended changes for better performance in related field:
 Maintain the neutral price then every lower and higher customer should buy any kinds of
Square product.
 Decision making process is one of the important element of any kind of industries, if the
decision is positive automatically company will achieve the goal but decision is negative
company will go to the wrong track, company do not overcome easily, so positive
decision will be take just in time.
 Changes in the procurement process (It should be in a sophisticated software to be more
competitive in the current market).
 A well ERP (enterprise resource planning) structure should be develop to increase
accountability and transparency.
 Maintain quite and silent working environment.
 Interior design need to changed for employee motivation and increase of existing
productivity.
 Special training on computer.
 Reduction of workload and also it should to be equally distributed among all the
employees.
 Organized proper training.
 Transparent performance evaluation and feedback.
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 More technological support (Computer and internet facility).
Suggestion for further improvement of the company:
 Special offer is required to retain high skilled employees

 Interior design of the office need to changed
 The decentralized group portfolio should changed
 Reduce paperwork
 Salary review
 Performance incentives for the employees.
CONCLUSION:
Square Pharmaceutical Ltd. was established as a partnership firm in 1958. In 1991 it was
converted into a public limited company. Square Pharmaceutical limited is the largest
pharmaceutical company in Bangladesh and it has been continuously in the first position among
all national and multinational companies since 1985. Since 1987 square has taken aggressive
measure to explore new countries as potential export market. It pioneered exports of medicines
from Bangladesh in 1987 and has been exporting antibiotics and other pharmaceutical products.
More and more countries are getting confidence in square’s product every year. But it’s true
that in the competitive global environment square is still struggling to ensure firm footings in
global market. Square is the flagship pharm company in Bangladesh, wants to be a global
player Square Pharmaceutical Ltd. Has extended its range of service towards the highway of
global market. This extension in business and services has manifested the credibility of square
pharmaceutical Limited
REFFERENCES:
http://www.squarepharma.com.bd/
http://www.inceptapharma.com/all-products.php
http://www.scribd.com/doc/
https://www.coursehero.com/file/p1scad8/SWOT-Analysis-of-Square-pharmaceuticals-
https://en.wikipedia.org/wiki/Square_Pharmaceuticals

Background of The Company: Vision Statement of Squre Pharmaceuticals

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Background of The Company: Vision Statement of Squre Pharmaceuticals

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BACKGROUND OF THE COMPANY

Square Pharmaceutical limited belongs to square group of industries. Square company is on of

VISION STATEMENT OF SQURE PHARMACEUTICALS:

MISSION STATEMENT OF SQURE PHARMACEUTICALS:

OBJECTIVE OF THE COMPANY:

GOAL OF THE COMPANY:

 Highly experienced senior executive some of whom,

 Non-availability of high technology,

Some other recommended changes for better performance in related field:

Suggestion for further improvement of the company:

 Special offer is required to retain high skilled employees

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