Bangladesh's Corporate World

People find business marketing of small starting money tough to establish having less option to make it successful. That is why most people think it as a waste of time and money and never tries to set up such types of business. This is found more realistic when the people try to hire professionals or “Branding” consultant but can never make it up having a bad experience. If we talk about hiring consultant for marketing, a person need to be sure about the consultant that he knows the most efficient way of marketing. But sometimes, money is a problem. Not everybody has the ability to consult someone but using various approach ways and planning the work can be done without facing any economic difficulties. Three Small Business Marketing Strategies For Success Firstly the service given by the business people should be so good that people like and appreciate it. Most people say that they will give the best service but it is not as easy as it seems. Also the way they are thinking is ...

Nasir Group is one of the largest industrial conglomerates in Bangladesh. The industries include industrial glass, tobacco, printing and packages, light engineering, melamine. It is one of the leading industries in glass manufacturing sector of the country. The company started its journey in 1977. Now this group expands in every industrial sectors of Bangladesh like tobacco, melamine, printing and packaging and footwear. Recently it started producing energy saving light bulbs. Nasir group has a great role in socio-economic development of the country. Dominance in Glass Sector Glass is one of the products of Nasir Group of Industry. Nasir group has a vital role to make Bangladesh self-sufficient in glass sector. This company provides a large portion of glasses to meet country’s demand. Nasir group started float glass production in 2005. The company built its glass manufacturing factory in Gazipur at a cost of Tk.300 crore. Nasir Glass now holds more than 40 percent of the total mark...

“Corporate culture! What is that?” There are many people who ask this question in spite of working several years in the corporate world. In spite of being crucially important, this motion is many a times left in ignorance and indifference. If you close your eyes doesn’t mean everyone else doesn’t see you. What I mean to state is, unawareness does not make corporate culture less important, and thus every corporate member must be aware of the concept of corporate culture and ways to make it healthier. Initiating the discussion, first let us understand what corporate culture is and go to its depth. The part of business involving employee attitudes, standards, policies and procedures, rites and rituals can be assumed as corporate culture. Although it is connected to the surrounding environment yet it has some unique traits as well. It can be negative, positive or even neutral. In most cases it is dynamic and changes with time but it can also be static sometimes. In a nutshell c...

When we think about good and big companies, we tend to think anything other than our national companies. However the truth is very contradictory to our assumptions. Many of Bangladeshi companies including Beximco Group, ACI, Concord Group, Navana Group, Pran Group have created big names for themselves in the past.   We sometimes forget their contributions for the nation. Many Bangladeshi companies are contributing in many business sectors such as poultry, agriculture, pharmaceuticals, aviation, automobiles, real-estate, clothing, media, textiles, garments etc. Companies like Beximco Group and Concord Group not only opened whole new sectors as pioneers for the country but also they opened up new job opportunity and research facilities. These places required more quantity of workers; that generally lead to more job specific courses in universities, resulting in general raise in literacy and also technicians of the country. Bashundhara Group alone has a worker amount of ...

Local Bangladeshi companies want upward adjustment of taka against US dollar. The value of local currency has been remained more or less fixed at 78 since June 2013. They want this adjustment because Indian rupee has fallen in recent times. According to the local exporters, some particular products, like low-end apparels, ceramics, vegetables, jute yarn etc. are affected for decreasing of the rupee’s value. The president of Exporters Association of Bangladesh said that the government can increase incentives to make counterbalance in the foreign exchange earning sectors as they urged in a letter sent to the Ministry of Finance to “devalue” the local currency. There are many products like ceramics, vegetables, handicrafts that have to compete with Indian products. Indian traders get more advantage over local counterparts for their wider capital base and local raw materials. Managing director of Evince Textile said that the government can introduce dual exchange rates soon and exporters ...

Fonterra, the world’s largest dairy exporter, came under fire from the New Zealand government, farmers and financial regulators for its handling of a food contamination scare that has triggered product recalls and spooked parents from China to Saudi Arabia. The government sent officials to Fonterra premises to ensure a clearer message and to regain international confidence after New Zealand’s biggest company was criticized for dragging its feet in saying it sold whey protein products that contained bacteria that could cause botulism – a potentially fatal food poisoning. Last week, Fonterra CEO Theo Spierings said the company did not face a ban on its products in China, only restrictions on whey protein concentrate. He said he expected the curbs would be lifted this week as soon as Fonterra provides Chinese regulators with a detailed explanation of what went wrong. China, Hong Kong, Sri Lanka and other countries, however, have issued fresh instant formula milk product recalls, and the ...

Paradise Cables Limited is one of the top and reputed cable companies in Bangladesh. This company has made its mark in the worldwide cables industry through sheer hard work, honesty and quality. In the last two decades of PCL’s glorious history it has always received nothing but compliments from its consumers and other buyers. Paradise Cables Limited was founded by Md Mobarak Hossain, Md. Mosharraf Hossain, Md Majibar Rahman and Md. Moniar Rahman in 1989. Ever since its birth Paradise Cables Limited never had to look back. From the starting point of manufacturing quality copper and aluminum rods it moved on to first manufacturing cables for the domestic market and later on the global market. In a growing country like Bangladesh the cable demand is very high. But no one has ever heard of scarcity of cables or rods in this country mainly because of the high production capacity of PCL. For PCL it not just about meeting the amount of products demanded by the consumers; it is also prov...

Bangladesh, as a nation, is heavily reliant on its garments industry. Over the past two decades, the garments industry has become a major foreign currency earning source. It is presently a $20 billion industry and a source of employment for approximately 3.2 million workers. Undeniably, the garments industry proved its worth and credibility . Buyers from across the world, mainly from the developed countries, chose Bangladesh for several reasons; the main being availability of cheap labor. Among others includes the fact that Bangladesh is a place where there are no strict rules to follow or that the rules are not enforced properly. However, the recent incidents including the building collapse in Saver damaged the industry’s image like a hurricane and are anticipated to have a long term impact. There are reports suggesting that many major garments buyers including GAP, Wal-Mart and Primark are considering reevaluating their contracts with the Bangladeshi garments manufacturers,...

Bangladesh would face a slower economic growth during the current fiscal predicts the World Bank. However, it said that Bangladesh would enter the middle-income country group by 2021 if its employment rate increases by 2 percent per year. Over the past five years, the average growth rate of Bangladesh was 6.1 percent. This growth has particularly been as a result of the population growth, increase in productivity and enlargement of labour force participation in foreign lands and growth of local businesses. Though employment increased over the past couple of years, the employment rate remained stagnant for the country. The government's initial economic growth target was 7.2 percent for 2013-14 fiscal year, which has became unachievable due to the recent unrest that disrupted most of the services. The World Bank predicts, coupled with the unrest, the weak manufacturing exports, lack of growth in the agricultural sector and the increasing domestic consumption and investment dem...

The government of Bangladesh has banned exporting of fundamental food - rice, soya bean oil, sugar and palm oil for three years. It also took decision to enhance pharmaceutical export. The amount to be used for this purpose is approximately sixty thousand dollar, which is twice of the previous limit that expired in June 2012. Due to this new policy, the sampling amount of the letter of credit has increased from 5% to 10% per year. An official from the ministry of commerce confirmed that this decision has been made after expert consultation of the corporate houses of the country and apex trade body - the Federation of Bangladesh Chambers of Commerce and Industry and all the other necessary chambers and associations. The new policy includes some prerequisite conditions that need to be fulfilled by industries in order for them to gain access to utility services. Products such as petroleum, that fall under the energy and mineral resource category, however, are exempted from this, since...