INDEPENDENT UNIVERSITY, BANGLADESH

DEPARTMENT OF HUMAN RESOURCES

MANAGEMENT
MBA509
Human Resources Management
Section: 01
Submitted To: Dr. Nazmul Amin Majumdar
School of Business and Entrepreneurship
Date of Submission: 13th July 2022
Major Project
Submitted by:
Name: Nafees Hasan Chowdhury
ID: 2222287
Incepta Pharmaceuticals Ltd.
 Acknowledgement

By the grace of Allah who has presented his thoughtfulness to by giving me the opportunity,
patience to complete this research report rightly. I was assigned to conduct a research report based
on Human Resource Management Problems and Issues, Human Resource Approaches taken to
obtain completive advantages and Challenges face by HRM in 21st century by Incepta
Pharmaceuticals Ltd. In force of the study, I was directed and helped every time I need by our
respected faculty member M. NAZMUL AMIN MAJUMDER (Professor, SBE), Independent
University of Bangladesh (IUB). I respectfully admit with thanks and gratefulness the kind help,
explanation, guidance expended to me by M. NAZMUL AMIN MAJUMDER which was of
priceless health in carrying out the study.

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 Letter of Transmittal

August 13, 2022

Dr. Nazmul Amin Majumdar

Professor

School of Business and Entrepreneurship

Independent University, Bangladesh

Honorable Sir,

It is my immense pleasure to submit the report of Incepta Pharmaceutical Ltd to you. I have
prepared this report, as a part of the course Human Resources Management (MBA509). To make
this report up to the standard I tried my best to fulfill the requirements by implementing the
knowledge I have gather from the course and tried to keep the highest of relevance. Thank you
very much for supplying me this opportunity and giving me the necessary guidance and direction
needed for preparing the report.

I have tried my level best to make this holistic and informative enough. However short comings
maybe inevitable. I would be grateful if you consider those from a liberal manner and guide me
towards more correct and precise knowledge.

Sincerely yours,

Nafees Hasan Chowdhury

ID: 2222287

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 Executive Summary
The second-largest pharmaceutical company in Bangladesh is Incepta Pharmaceuticals Ltd. The
company is dealing with several HR-related issues. The most challenging task is the challenge of
performance appraisal. Due to a shortage of fully committed and qualified evaluators, the
organization struggles to conduct precise assessment. According to their perspective, there is a
great deal of potential for supervisor discrimination when rating subordinates. Other HR-related
problems exist at Incepta Pharmaceutical Ltd. Their attendance policy has unethical flaws. It can
be abused by employees. The pharmaceutical company Incepta is also hesitant to adopt modern
technologies. The organization's last issue is the absence of training need assessments. They cannot
measure accurately regardless of whether the training is genuinely necessary. Few methods exist
for gaining a strategic competitive edge. Three strategies that are linked to improving employee
performance and lowering absenteeism. These three methods include training, a proper
performance rating system, and human resource planning. Employees are engaged with their work
and the company throughout training. HRP is regarded as the most significant technique among
the three approaches in human resource practices. Incepta Pharmaceutical Ltd. will get a strategic
competitive advantage through these three strategies. Finally, because there are so many rivals in
the market, one of the obstacles that Incepta Pharmaceutical Ltd. will have in the twenty-first
century is selecting and keeping qualified workers. There are added difficulties outside
technological adaptation, such managing conflicts. The issue with Covid-19 is the last but not the
least. Covid - 19 is one of the toughest tasks in the twenty-first century. As a result of the mental
strain that comes with managing remote work for HR managers, HR rules must be revised, and
actions must be performed with consideration for the situation.

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Table of Contents
Introduction ............................................................................................................................................ 5
Products and services .......................................................................................................................... 8
Objective of the Study ......................................................................................................................... 9
Methodology ....................................................................................................................................... 9
Literature Review .................................................................................................................................. 10
Question and Answers........................................................................................................................... 11
1. What are the HRM problems and issues faced by Incepta Pharmaceuticals is facing?................. 11
2. What sort of HRM approaches do you think need to be taken to ensure ongoing strategic
competitive advantage? .................................................................................................................... 15
3. What HRM challenges will Incepta Pharmaceuticals face in the 21st century? Critically discuss.. 20
Conclusion............................................................................................................................................. 23
Recommendation .................................................................................................................................. 24
Implementation of Recommendation .................................................................................................... 25
Reference .............................................................................................................................................. 26

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 Introduction
Incepta Pharmaceuticals has significant production sites at Savar and Dhamrai, each 35 and 53
kilometers from the city's core, respectively. The company produces a wide range of formulations,
including tablets, capsules, oral fluids, ampoules, dry powder vials, suspension powders, nasal
sprays, eye drops, creams, ointments, lotions, gels, prefilled syringes, and hard gelatin liquids. -
Filled capsules, freeze-dried injectables, human vaccines, etc. Since its founding, Incepta has
introduced new and innovative products to address the unmet requirements of the medical
community. Bringing newer, more innovative chemicals to the nation has been the key goal.

The company specializes in high-tech value-added formulations such pre-filled syringes, insulin
and insulin analogs, sustained-release tablets, fast-dissolving tablets, effervescent tablets, barrier-
coated delayed-release tablets, and biological products. Others Established a innovative R&D
facility to create new, innovative formulations for a range of medications and medical equipment,
including poorly soluble medications, dry powder inhalers, coated granules, controlled-release
items, taste-masking medications, etc.

Incepta has a strong sales staff that advertises its specialties around the country. Almost all of
Bangladesh's rural and urban areas are covered by the business. It has a vast internal distribution
network with 28 warehouses spread out across the nation. The business has a distinct ambition to
fast set up itself as a top research-based formulation firm with a global presence. In order to do
this, the organization started growing its clientele in foreign markets. Currently, Incepta sells its
goods to 74 different nations. With hundreds of trademarks already registered in several nations
and more in development, Incepta is progressively extending its worldwide footprint to all
continents.

Such initiatives will help the corporation as well as the nation's broader pharmaceutical industry.
The business will start producing active pharmaceutical ingredients in as little time as is practical
(API). Plans are now being made to engage in reverse engineering and analog research to supply
new APIs. Incepta Vaccines Limited, a sister company of Incepta Pharmaceuticals, has already set
up a state-of-the-art human vaccine production office. Human vaccinations have previously been
introduced into the Bangladeshi market by Incepta Vaccines Ltd. in June 2011. As the first
Bangladeshi business to obtain the knowledge to create human vaccines, Incepta Pharmaceutical
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is born. The corporation will be able to offer its vaccinations to every country because to the
capability of the greater manufacturing.

SAP, a highly regarded ERP system, was adopted by Incepta on January 15, 2011. Throughout the
course of business This top-notch management system will enable the business to run more
effectively and efficiently on a daily basis.

The business is consistently extending its operations outside of Bangladesh. The business will
begin working with interested and pertinent partners in several nations. Here, the people of
Bangladesh and other countries across the world will start trying to offer high-quality medications
at reasonable costs. Incepta began operations with a small group of incredibly skilled, resolute
professionals that were led by a capable leadership. Quick, technically excellent judgments that
were made on time helped us reach our goals, which resulted in considerably faster growth.
delivering the proper good at the appropriate moment The release of high-quality products often
ahead of their rivals was made feasible by the early emphasis on R&D.

All goods currently come from these two plants in Zirabo and Dhamrai. The firm now
manufactures practically all dosage form options for almost all therapeutic areas. Incepta now runs
one of the largest and most skilled sales forces and extensive distribution networks in the country
out of 28 different warehouses. At the core of the market operation, pharmacists and experts make
up the most ardent, skilled, and committed promotional group. These extraordinarily gifted
professionals play a crucial role in supplying the essential guidelines necessary to advance its
goods.

From the very beginning, Incepta focused on promoting more innovative and modern products.
Large investments in R&D and advanced technology have allowed the corporation to release 600
generics, 1300 arrangements, 255 of which were "to begin with ever in Bangladesh." Human
antibodies, monoclonal antibodies, biotech goods, hormones, everyday objects, creature health
products, hygiene products, and clinic gadgets are now being produced by Incepta and its sibling
companies in a variety of dosage sizes.

The pharmaceutical business in Bangladesh is the most advanced and technical sector of the
nation's economy. After the chemical and apparel industries, it is the third largest sector in
Bangladesh. The number of high-tech pharmaceutical companies is growing daily. There were 210

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recognized allopathic drug manufacturing facilities in the country in 2000. Currently, about 5,600
kinds of pharmaceuticals are produced by around 300 pharmaceutical businesses in a variety of
dosage formats. The prominent pharmacists in this nation contributed their expert knowledge and
innovative ideas to speed up the growth of this industry. They are trying so hard to develop the
greatest lesson medication available worldwide.

The pharmaceutical business has recently begun exporting medications to 79 different worldwide
markets, including the European market. The most traded commodities are tablets, capsules, and
syrups, including high-tech specialist products like HFA inhalers, CFC inhalers, suppositories,
nasal sprays, injectables, IV implants, etc. Injectables, IV Infusions, nasal sprays, etc. Bangladesh
is become a nation that exports drugs. This sector is increasingly exporting foreign cash on a daily
basis. Bangladeshi pharmaceutical exports totaled $27.5 million in the fiscal year 2005–2006. The
trend of the trade amount is rising almost every year, reaching USD 48.3 million in the fiscal year
2011–12. Bangladeshi pharmaceutical items are still traded on an exceedingly small basis. It is
important to take necessary steps to export pharmaceuticals in large scale (Ahaduzzaman, 2017).

Incepta Pharmaceuticals Ltd. is one of Bangladesh's top five manufacturing companies, and it is
known for growing the fastest. Since it was founded in 1999, the business has advanced
significantly. IPL started off with a small group of extraordinarily talented and resolute experts
who were supported by a capable leadership. Legitimate strategic planning, expert influence, rapid
decisions, and ideal timing all helped them achieve their aims and accelerate intensification.
Incepta was able to estimate the market's needs and supply the right product at the right time. Tall
emphasis on research and improvement spending from the beginning made it possible for the
associate of excellent items to be ahead of its rivals in most cases. Most of the time, a significant
concentration on research and development expenditure was made possible by becoming familiar
with excellent items earlier than its competitors.

Unrecorded and the second-largest pharmaceutical corporation behind Square Pharma. Grandstand
share and business market position: Incepta now holds an 11.8% market share in Bangladesh. 2019
(Munni. M).

Top Competitors of Incepta Pharmaceuticals ltd

• Bioplus Life Sciences.

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 • Renata
• Square Pharmaceuticals Limited.
• Petrovax Pharm.
• ACI
• ACME
• Incepta Pharmaceuticals.
• Neuraxpharm Group.
• Sigma Healthcare.
• Aristopharma

Products and services

Incepta Pharmaceuticals Ltd. is promoting a variety of products to address the unmet needs of the
local and global restorative communities. Incepta creates the following item formats. (products)

• Sterile Products
• Non-Sterile Products
• Biological Products
• Cephalosporins
• Lyophilized Products
• Ophthalmic
• Nasal Sprays & Drops
• Pre-filled Syringe

Other than Pharmaceuticals, Incepta Pharmaceutical ltd. has begun to discover its opportunity in
projects such as-

• Vaccines
• Animal Medicines
• Natural Products

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 • Bio-similar
• Hygiene products e.g., Diaper etc.
• Hospital Supplies like Infusion set, Suture material etc.

Objective of the Study

The study mainly considers the following objectives:

1. First goal of this study is to find out the problems and issues of Human resource
management of Incepta pharmaceuticals is facing.
2. 2. Second goal is to find out the Human Resource Management approaches that Incepta
Pharmaceuticals should take to ensure the ongoing strategic competitive advantage.
3. 3. The last goal is to analyze and assess the human resource challenges will face by Incepta
Pharmaceuticals in the 21st century.

Methodology

I need to use a combination of qualitative and quantitative data to fully understand this study report.
Quantitative data is conveyed by numerical quantities, while the qualitative data method is
expressed by words. I gather these data from secondary sources including the internet and other
kinds of books, journal papers, and textbooks.

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 Literature Review
In order to expand society's access to necessary medications, human resource management has
grown to be one of the most crucial and difficult concerns facing the pharmaceutical sector in
general and developing nations in particular. (2018, Babapour, Gholipour, and Mehralian) The
link between business performance and human resource management strategies has been the
subject of several research. As shown in the following themes of the study, there is a significant
relationship between the influence of best human resource management practices on employee
attitudes and behavior.

An improved system will result in a great contribution that will ensure that employees work toward
achieving the organizational goals. Since the organization's most valuable asset is its people
resource, it is crucial that they concentrate on this group. Out of an organization's four fundamental
resources—human, physical, financial, and information—human resource is the most crucial
(HOSSAIN, FAREEN, & HASAN, 2020). According to (Blom, Du Plessis, & Kazeroony, 2019),
the competitive dynamics that today's firms face need fresh adjustments be made to the structure,
role, and functions of human resources. The administration of human resources is a
multidisciplinary role that incorporates theories from management, psychology, sociology, and
economics.

It is critical to recognize two possible conflicts between how altering the organizational
architecture affects turnover. (2017's Nasir S. Z). A successful HRM tries to inspire outstanding
performance from regular individuals. In addition to selecting the ideal candidate for the position
at the ideal moment, human resources management is in charge of motivating staff members and
ensuring their long-term growth (Walker, 1994). Even though evaluating an employee's
performance at work has been a human resource management practice for centuries, it is still seen
as being severely flawed and riddled with issues. (2008, Kondrasuk J.N.) Employee performance
evaluation is a challenging process. Organizations use performance evaluation systems to find the
most talented and effective workers so they can pay them more and provide other perks, so they
are satisfied with their jobs. However, occasionally the majority of employees are dissatisfied with
their performance reviews and so with their jobs. (2015, Muralikrishna).

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 Question and Answers

1. What are the HRM problems and issues faced by Incepta

Pharmaceuticals is facing?

Answer: There are some major HRM problems and issues that Incepta Pharmaceuticals is facing

Job Analysis Standard:

HR in a business places a lot of importance on the job analysis standard. The essential components
of a job analysis are the job specification and job description. A job's responsibilities, skill
requirements, and ideal candidate are all decided through the process of job analysis.
(2020, Dessler) For selecting the best applicants and directing the productive employees toward
them in all sorts of organizations, the HR department has to set up a standard for job analysis.
Because the HR manager is unable of implementing the different HRM responsibilities, Incepta
Pharmaceuticals' job analysis, human resource planning, recruiting, and selection policies are not
standard. They do not include an accurate job specification and description in the circular's
recruitment and selection section. The work description for the specific post is not expressed
adequately in the recruiting circular; rather than writing about it, the interview panel was verbally
informed. Furthermore, BPL occasionally disguises its identity during advertising. However, if
they did not know the firm's name, it is possible that the most qualified individuals would not have
applied, and the company would lose out on the best and brightest. However, if they had revealed
their true identities, they may have attracted the most qualified individuals.

Interview Board:

For a company, a good interview board is crucial. Because a firm will lose the effective prospects
without a competent interview board, which will ultimately result in a loss for a corporation. The
Incepta Pharmaceuticals interview board is inadequate. That is why there is a notion that the
applicants they contact are not chosen by the panel based on their credentials, performance, or
academic record, but rather by the references of the organization's workers or top-level staff, which

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is unethically incorrect. Nepotism and prejudice in hiring decisions are prevalent in the
corporation, which is a genuine issue for any business.

Gender Discrimination:

A major issue for an organization is gender discrimination. People collaborate in a society to create
a stronger economy. The majority of the time, however, if we take a deeper look at the job sectors
in developing nations, we can see that men are given greater importance in those industries while
women are given less of it. There is a serious discrimination issue, even in the area of performance
reviews where males are given greater weight. The performance evaluation is not correctly
followed by Incepta Pharmaceuticals' HR department. In this company, there is a lot of nepotism
and gender prejudice. Women employees often experience gender discrimination in terms of
promotions and encounter a glass ceiling. As a result, various authors assign different scores to
people who are equally efficient.

Salary and Compensation:

For a corporation to attract effective workers and strong patents, standard and market-competitive
pay and benefits are crucial. Companies who do not offer market competitive salaries and benefits
to their employees have significant difficulties in achieving their goals since the most qualified
applicants for a given position are drawn to positions with competitive salaries and benefits.
Incepta Pharmaceuticals does not provide its employees a payment package that is competitive
with those of the other pharmaceutical firms. In comparison to other pharmaceutical businesses,
the numerous benefits and incentives are likewise somewhat lower than the wage pay scale. They
have a genuine issue with that. Because the most successful workers might not even apply for this
position without a competitive wage and benefits.

Lack of Training:

The goal-achieving process of a company involves transmitting its values and cultures to its
workforce through training. The right training is crucial for a business. Without the right training
program, the organization's culture and values will not be adequately communicated to its
employees, creating an ineffective work environment. The company Incepta Pharmaceuticals does
not routinely schedule employee training. As one of the top pharmaceutical corporations in the

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nation, they have to consistently schedule training sessions. Incepta Pharmaceuticals also has an
issue with a lack of adequate training.

Wrong Cost Cutting Tendencies:

Unwise cost-cutting practices are a major issue in developing nations like Bangladesh. Most
businesses minimize costs by lowering the number of employees, which increases the workload
on the remaining staff and may degrade the quality of the final product. Incepta Pharmaceuticals
has a bad inclination to cut costs. According to me, there are not enough staff, or the correct
individuals are not working where they should. Imagine that a manufacturing division needs at
least 40–50 personnel to run well, but owing to poor cost-cutting, they only recruit 30, which
complicates the operation.

Lack of Succession Planning:

To assure individual career growth and meet the organization's present and future demands,
succession planning is a continuous activity. (Dessler, 2020) Additionally, Incepta
Pharmaceuticals lacks succession planning. The basic goal of succession planning is to identify
many back-up candidates for each senior job after conducting periodic reviews of senior executives
and top executives. Given that developing successful senior managers requires years of training,
it is crucial for a business. However, Incepta Pharmaceuticals has not given such succession
planning any attention. For this reason, the majority of employees claim that there is a massive
increase in work, which causes a decline in employee appeal.

Centralized HR Division:

The HR department of Incepta Pharmaceuticals is centralized. Only the HR department is found

in the corporate headquarters, and it is from there that all problems and concerns affecting the
whole company are managed and resolved. It takes longer to resolve any HR difficulties or issues
if they occur in other branches. The department is not well organized, and their method for
evaluating training is not kept up to date.

Lack of Empowerment:

The empowerment system is not well used at Incepta Pharmaceuticals. In that specific company,
there is a lack of empowerment at the managerial level.

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Findings: I have found the following HR problems and issues that Incepta Pharmaceuticals is
facing:

• One of the key issues with the management of Incepta Pharmaceuticals is the prevalence
of nepotism and referring in the interview process.
• By improperly writing the job specification and job description while issuing a job circular,
there is a greater probability of losing the productive personnel.
• They do not provide their employees with market-competitive salaries and benefits, which
is a major problem and concern for them.
• The performance evaluation process discriminates against women. In that situation, women
are not promoted based on their performance.
• They do not give their personnel the necessary training.
• They lack an effective succession strategy.
• They do not offer the necessary number of staff as a result of improper cost reduction.

All management choices and procedures that have an impact on an organization's workforce are
included in Human Resource Management (Bhatt & Reddy, 2011). (Tawalbeh, Masa’deh, & Ali
Akour, 2019) The four primary areas of HR practices are recruitment and Selection, performance
reviews, training and development, and compensation and reward were discussed. Most firms
believe that their employees are their greatest asset, thus the hiring and selection processes are
crucial in ensuring that a new hire can quickly become productive and achieve the results they are
looking for. In other words, having the proper personnel size and skill set is essential for a business
to succeed (Mark, 2014). According to (Mac Millan, 1984), obtaining a competitive edge needs
being aware of and prepared for reaction obstacles, intelligence systems, possible preemption,
infrastructure needs, deliberate sacrifices, general management issues, punch and counterpunch
preparation, and other factors. According to (Noe et al. 2010), the only thing that gives a company
a competitive advantage in the business sector is human resource management since competition
is only growing worse and worse every day. Only when SHRM practices complement assets or
capabilities that add value to a company can they serve as a long-term source of competitive
advantage. In order to set up and support these resources, SHRM practices should be identified in
SHRM research together with the resources that are essential for advantage in a particular

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competitive scenario. The overarching goal of training is to aid staff in enhancing their
performance and fortifying their ties to the company. (Dessler, 2008;Peretomode, 2001) Four
reward methods—"uniform relational rewards," "uniform transactional rewards," "variable
relational compensation," and "variable transactional compensation"—are produced when the
characteristics of competitive strategies and labor market orientations are combined. (Brown,
2014) An economic framework for analyzing the role of human resources in company competitive
advantage is provided by the resource-based perspective of organizations. This point of view
concentrates on corporate assets that may be sources of industry competitive advantage. This
competitive edge can be provided by three fundamental sorts of resources. (1991, Barney) The
company's facilities, financial resources, and other items are examples of physical capital
resources. The structure of the company, its planning, controlling, coordinating, and HR systems
are all examples of organizational capital resources. The talents, judgement, and intellect of the
firm's employees are also considered to be among the human capital resources (1998, Wright).

2. What sort of HRM approaches do you think need to be taken to

ensure ongoing strategic competitive advantage?

Answer: There are some HRM approaches that I think need to be taken to ensure the ongoing
strategic competitive advantages:

Modern HRM System:

The HR system is becoming more contemporary as a result of how quickly society is evolving. In
the past, HRM was not used in less developed or developing nations, but today it is, and HR
systems are also evolving with time. People now employ a variety of technology and applications
in the HR department. The 2006 Labor Act is changing HR's policies. The HR manager of a firm
must be current on modern HR systems and regulations in order to succeed in this competitive
market. The HR manager of Incepta Pharmaceuticals should evaluate contemporary HR systems
and appropriately implement all HR activities since HR policies serve as the cornerstone for all
human resource functions in a business. This is because the pharmaceutical sector is expanding in
Bangladesh.

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Proper Performance Appraisal:

The practice of assessing an employee's present and/or earlier performance in relation to their
performance criteria is known as performance assessment. (Dessler, 2020) A company must give
careful consideration to performance evaluation. The purpose of a performance review is to decide
whether an individual will be promoted or let go. Some systems for rating performance include:

• Simple Ranking: A sort of performance rating system called a simple ranking system compares
an employee's performance against that of all other workers. This performance evaluation
approach is the simplest and earliest. This approach finds the person who scores best on the
trait being tested as well as the employee who scores lowest. Once all of the employees who
needed to be evaluated have been graded, the next highest and the next lowest will be placed
between the next highest and lowest. There will be ten ranks from 1 to 10 if there are ten
employees to be evaluated.
• Force Distribution Method: The employee performance level in this sort of strategy agrees to
a normal statistical distribution. This approach is used to assess the performance of lots of
workers.
• Rating Individuals: Rating people involves comparing them to a common set of standards and
evaluating them on a scale from 1 to 5. uses the scale to show how much each quality is shown
by a worker. Another grading attribute is the Mixed-Standard Scale, which employs many
explanations of each trait to get a final score for that trait.
• Measuring Results: Results evaluation involves two steps. One is management by objectives,
in which people at every level of the organization set goals in a process that streams from top
to bottom, so workers at all levels are contributing to the organization's overall objectives;
these objectives have come to be the benchmarks for evaluating each employee's performance.
The other is measurement of productivity, which refers to the output of production workers
(output per worker or per dollar spent on production).
• Total Quality Management (TQM): TQM combines measurements of qualities and results to
evaluate both system performance and individual performance. It also consists of two pieces.
One is subjective feedback on an employee's character traits, such as cooperation and initiative,
which comes from supervisors, colleagues, and clients. Another is focused on the work process
and objective feedback. is derived from a variety of techniques known as statistical quality

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 control. These techniques make use of charts to explain problem-solving methods,
performance metrics, or relationships between aspects that are connected to the workplace.
Workers are capable of using these guidelines to find areas where problems may be avoided
or fixed.

Because an organization's success or failure heavily depends on the effectiveness of its people
resources, Incepta Pharmaceuticals' HR department should create a standard performance
assessment. Only a thorough performance review can inspire staff to meet the organization's goal.

Standard Pay Structure: A company's standard pay structure is a crucial component. Because there
is a great likelihood that employees may leave the company in the absence of a consistent wage
structure. The regular compensation structure is crucial to retaining effective individuals in this
company in this highly competitive industry. To lower the high employee leave rate from the
company, Incepta Pharmaceuticals' HR management should adopt a common compensation
structure for all levels of employees.

Training: It is critical to offer the staff the right training and development opportunities in this
cutthroat industry in order to maintain a strategic competitive edge. The HR manager at Incepta
Pharmaceuticals should set up several training sessions for their staff members, and when the
training program is over, an assessment program needs to be considered. Depending on their
employment, personnel at various levels should get various sorts of training.

Uniform Performance Appraisal: A unified performance evaluation policy ought to be created by

Incepta Pharma's administration. In order for the effective and diligent worker to receive an
appropriate reward for their performance and the correct individuals to receive the right
compensation, the HR Manager should refrain from being biased during performance appraisals.

Succession Planning: Because good succession planning is crucial for the functioning of the
business, Incepta's HR department has to make one. It guarantees that the employee's duties are
disrupted as little as feasible.

Reduce Extra Workload: Companies frequently hire fewer personnel than necessary due to
improper cost-cutting measures. The remainder of the staff ended up with a massive burden as a
result. The firms must lower the workload to maintain their workforce and product quality in order
to get a competitive edge. To ensure a competitive edge, Incepta Pharmaceuticals should lower the

17
additional burden of the employees in order to boost employee productivity. Alternatively, they
might provide the employees overtime money for each additional hour they work or each more
unit they create.

Decentralized HRD: The HR division of Incepta Pharmaceuticals has to be decentralized. Because

the decentralized HR division may actively promote HR operations and significantly impact them.

Increase empowerment: In order to maintain an organization's competitiveness, empowerment is

essential. Every employee, from the very bottom to the very top, is able to contribute to the general
momentum of the company thanks to the increased empowerment experienced by those at various
levels of the organization.

Findings: To maintain its strategic competitive advantages, Incepta Pharmaceuticals should, in my

opinion, adopt the following HRM strategies:

• To get a competitive edge, the Incepta HR manager has to remain current on HR technology
and procedures.
• They ought to do a thorough performance evaluation in order to inspire their staff and
improve the efficiency of their job.
• They ought to pay their employees a market-competitive wage so that they may hire the
most qualified and effective personnel for their firm and get a competitive edge.
• They should regularly offer training and development programs to their staff members in
order to boost productivity and get a competitive edge.
• They ought to offer standardized performance reviews to all of their workers so that the
diligent and productive ones receive paid commensurate with their output.
• The HR manager at Incepta Pharmaceuticals should create a succession plan to gain a
competitive edge.
• They should stop making the incorrect cost-cutting decisions so that the additional work
that the other employees have to do will be decreased and they may gain a competitive
edge.
• They ought to give the organization more power.
• The HR division has to be decentralized so that workers may readily handle their
difficulties.

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Utilizing people's knowledge and experience in an efficient and effective manner to achieve
corporate goals is the 21st century approach to HRM (Wong & Snell, 2003). Similar to this,
(Tzafrir et al., 2004) highlighted the significance of HR focusing on employee perks and concerns
because people are crucial to the success of organizations. Currently facing difficulties: Manpower
management, often known as human resource management, is one of the toughest positions in a
business, especially in light of the fact that globalization has made it both more difficult and more
vital. (Nasir S. Z., 2017) Organizations now face a variety of problems relating to 21st century
human resources, such as using new technology, globalization, everyday advances, political and
economic instability, and ethical and ecological issues. (Theunissen, 2007) Planning for HR is one
of the most important tasks for HR managers. Organizations have changed from being "behind the
scenes" in regard to HR duties in the twenty-first century to becoming a crucial point of
differentiation for firms. The 21st century has given the HR positions a new dimension, especially
in light of globalization. Manpower management is a difficult profession that calls for specific
knowledge. Many changes have occurred over the past few years, such as frequent layoffs caused
by the growth in unemployment, which placed a lot of pressure on the management of the
organization to review its methods and tactics. (Nasir, 2017) The 21st century has given the HR
positions a new dimension, especially in light of globalization. Manpower management is a
difficult profession that calls for specific knowledge. Many changes have occurred over the past
few years, such as frequent layoffs caused by the growth in unemployment, which placed a lot of
pressure on the management of the organization to review its methods and tactics. According to
(Zorlu, 2009) and (Nasir, 2017), managing people requires specific abilities. Organizations find it
challenging to change expensive and time-consuming strategies and policies as a result of issues
like employment loss. Finding people with the necessary knowledge for a company's advancement
is the primary function of HR, according to (MILLER, 2000). Due to globalization, businesses
must also contribute internationally. When hiring from abroad, it becomes more difficult. It is
difficult and expensive since there are barriers to communicating with HR managers and
publicizing.

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3. What HRM challenges will Incepta Pharmaceuticals face in the
21st century? Critically discuss.

Answer: The old ways of doing things are no longer applicable in the rapidly changing world of
today, where the past is being replaced by an effective present and the effective present is being
replaced by a more difficult future. Change is inevitable and a fact. The race is expected to be lost
by those who cannot adapt to the changes. Pharmaceuticals are one of Bangladesh's most
productive and research-intensive sectors in the twenty-first century. The pharmaceutical sector
has advanced to this point because to research and development, which has also made life simpler,
more pleasant, and occasionally luxury. The Incepta Pharmaceuticals Limited must uphold the
quality of their goods in this cutthroat industry to comply with the worldwide market strategy.
Additionally, they must maintain a strong production line, a transparent organizational structure,
and efficient HR department and HR policies. The following HR difficulties will be faced by
Incepta Pharmaceuticals in the twenty-first century:

Challenges in Promoting Organizational culture:

Considering how quickly the pharmaceutical sector is growing, it is crucial to support

organizational culture in this demanding new century. because all sorts of people from various
backgrounds collaborate in the workplace. The promotion of the organizational culture at Incepta
Pharmaceuticals is becoming more and more difficult as a result of this diversity.

Challenges in Ensuring ethical behavior and trust building:

Incepta Pharmaceuticals' HR department faces several difficult ethical dilemmas in the twenty-
first century. It takes ethical behavior from the workforce in a highly competitive global market to
ensure sustainability over the long term. However, it might be difficult for HR to maintain moral
behavior among employees in a large firm like Incepta Pharmaceuticals where varied individuals
coexist.

Challenges in Recruitment and selection:

The internationalization of the 21st century has made recruiting and selection more difficult. The
HR department of Incepta Pharmaceuticals finds it exceedingly challenging to find, choose, and

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manage a varied group of employees. In addition to the publicity, the pricey and difficult
communication with HR managers. That presents a serious difficulty to an HR.

Challenges in Adapting New Technology:

In the twenty-first century, everything is digitized, making it harder for the human resources
department to adapt new technology. Different sorts of modern technology are used by Incepta
Pharmaceuticals for production and other purposes. The HR is finding it more difficult to train a
significant number of workers on their new, updated system.

Conflict management and resolution:

Conflict management will be difficult for Incepta Pharmaceuticals' HR in the twenty-first century.
Due to long working hours or intense pressure to meet the goal, they must be well equipped to
negotiate with disputes amongst representatives. The manager of Incepta Pharmaceuticals should
be able to resolve disputes quickly. A supervisor can serve as a point of contact or a mediator
between two parties. When dealing with employee complaints, HR managers are occasionally
required to explain the codes of conduct to the employees. Other times, they serve as a point of
contact between companies and labor unions to mediate disputes between the parties. Conflicts
may seriously affect a company. As a result, managing conflict is one of the biggest problems for
Incepta Pharmaceuticals HR in the twenty-first century due to globalization and intense
competition.

Flexible work hours:

The planet has seen significant transformation in this century. Because of the evolution of
technologies, many now prefer and feel more at ease working remotely. Dealing with the current
circumstance is a major problem for Incepta Pharmaceuticals' HR department.

Managing multi-generational workforce:

In the workplace of the twenty-first century, several generations coexist. The generation is
separated into several age groups, and it is crucial for a business to keep both generations of
employees. For this reason, managing the multigenerational workforce as a whole will be a
significant challenge for Incepta Pharmaceuticals.

Challenges in Covid Situation:

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We are all aware that the current state of global COVID is abnormal. All sorts of organizations are
struggling right now, but the HR department in particular is having a tough time managing things
because the majority of the organization's employees are so emotionally fragile at such a crucial
moment. It is a tremendously difficult period for Incepta Pharmaceuticals' HR department as well.
Work from home is permitted throughout the business in this pandemic condition, which presents
a difficult challenge for HR in trying to remotely monitor all of the employees' actions.
Additionally, in this epidemic era, it is a significant difficulty for HR to maintain control over the
industrial sector. Another significant issue that HR is dealing with is that the company's employees
lack mental fortitude in light of the numerous persons who pass away every day from COVID. It
is extremely difficult for Incepta Pharmaceuticals' HR department to manage.

Findings: I think in this 21st century the Incepta Pharmaceuticals HR will face the following
challenges:

• Incepta Pharmaceuticals will have trouble fostering the organizational culture among
diverse workforces.
• It is exceedingly difficult for Incepta Pharmaceuticals' HR department to uphold ethical
behavior in the company's varied workplace.
• Recruitment and selection issues will be faced by Incepta Pharmaceuticals' HR department.
• They will have trouble adjusting to new technology.
• Managing and resolving conflicts will be difficult for them.
• They will have difficulties with variable work schedules. because tracking an employee's
work during flexible hours is quite challenging.
• Managing the workforce's multigenerational makeup will provide difficulties for them.
• HR at Incepta Pharmaceuticals finds it difficult to manage such a large firm that produces
and exports medicines all over the world in this pandemic crisis. The HR department finds
it very challenging to manage both the production area and the corporation as a whole.

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 Conclusion
Bangladesh's pharmaceutical sector has been expanding significantly during the past 20 years. The
growth of the healthcare industry has boosted peoples' knowledge of their own health as well as
their purchasing power. In the future, growth is anticipated. As one of the top pharmaceutical
businesses, Incepta Pharmaceuticals is essential to both the industry and the overall economy of
the country. The pharmaceutical industry is expanding quickly, which encourages the introduction
of innovative medications and research items while ensuring healthy competition for the most
critical medications. Additionally, Incepta Pharmaceuticals is in a strong position on the stock
market. In this research paper, I sought to identify the HR issues and issues at Incepta
Pharmaceuticals. I discovered that they have issues with job analysis standards, some issues with
the recruitment system, a salary and compensation policy that is not competitive with the market,
an inadequate performance appraisal system, and issues with gender discrimination. After that, I
tried to determine the HR strategies that, in my opinion, should be used to maintain strategic
competitiveness, such as ensuring a proper system for performance evaluation, salary and
compensation that are competitive in the market, reducing unwise cost-cutting and employee
workload, and ensuring a proper program for training and development. Lastly, I have tried to
identify the difficulties that Incepta Pharmaceuticals will encounter in the twenty-first century,
such as the difficulties in fostering organizational culture, ensuring ethical behavior, and fostering
employee trust, as well as some difficulties in recruitment and selection and the most difficult stage
of this contemporary era. Incepta Pharmaceuticals has a significant obligation to focus on
providing high-quality goods and services in order to advance the development of this sector as a
huge corporation.

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 Recommendation
I have the following suggestions for Incepta Pharmaceuticals:

• Incepta Pharmaceuticals should make their name known while posting a job circular, and
they should accurately describe the position and its requirements in the circular to attract
qualified applicants.
• Incepta Pharmaceuticals' selection procedure has to be easier to understand, briefer, and
straightforward. Because Incepta Pharmaceuticals' hiring procedure is so drawn-out, fewer
candidates apply, and in the majority of cases, the effective candidates join another
company before the results are published as a result of the protracted process.
• Due to the rumor that no one can work at Incepta Pharmaceuticals without the
recommendation of an existing employee or higher authority, they must establish an
impartial interview board and ensure that their hiring procedure is impartial.
• The employer-employee connection needs to be established. because there are issues with
the employer-employee relationship at Incepta Pharmaceuticals. They can communicate
with one another.
• To boost productivity and efficiency at work, the necessary number of personnel should be
hired specifically for the production division.
• Because internal politics are so intense in that organization, labor policies ought to be
liberal. In accordance with the Labor Act, many sorts of policies should exist.
• The lack of flexibility and a positive work atmosphere deters individuals. They should thus
make sure the workers have a suitable working environment. Considering how useless a
good working atmosphere is for a company.
• To keep the precious human capital in this cutthroat market, they should maintain a
structure for remuneration policies. Because the majority of Incepta Pharmaceuticals
employees have the same complaint that the company does not pay its employees a
competitive wage in the market.

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 Implementation of Recommendation
Human resource issues may be resolved by adopting certain actions, such as employing an
effective HR manager with experience and competence in recruiting personnel and creating the
necessary HR policies. By giving the HR department access to an appropriate training and
development program and an appropriate HR policy, the issue of posting job circulars without
having a sufficient job definition and job description may be resolved. Another issue with the
recruitment process at Incepta Pharmaceuticals can be resolved by following proper recruitment
and selection procedures. The recruiting team must be impartial during the recruitment and
selection process. To put this into practice, the authority at Incepta Pharmaceuticals must create
an impartial recruitment team. At Incepta Pharmaceuticals, the relationship between the employer
and the employees is not great. To address the issue, there may be some feedback secession
between the employer and employee so that they may improve their relationship. The working
environment at Incepta Pharmaceuticals is not great. To address this issue, the HR manager may
create policies pertaining to the working environment and can solicit input from the staff. In this
way, both the working environment and the satisfaction of the staff will improve. Incepta
Pharmaceuticals' compensation policy should also be competitive with the market, and to do this,
they can create a standard wage pay structure policy.

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