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    Management Practice in Beximco Pharma

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    Towsif Noor Jamee
    Management helps organizations achieve their goals by planning, coordinating, and implementing operations. Management is necessary for every step of an organization. Beximco Pharmaceuticals Limited (BPL) is Bangladesh's largest pharmaceutical company. It has over 3000 employees and produces over 400 medicine products. BPL has a tall organizational structure with the Chairman and Directors at the top, CEO and other managers in the middle, and various department directors and managers below them. BPL creates strategic plans by analyzing its industry, setting objectives, and developing policies to achieve its long-term goals of increasing access to quality medicines.

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    Management Practice in Beximco Pharma

    Uploaded by

    Towsif Noor Jamee
    966 views15 pages
    Management helps organizations achieve their goals by planning, coordinating, and implementing operations. Management is necessary for every step of an organization. Beximco Pharmaceuticals Limited (BPL) is Bangladesh's largest pharmaceutical company. It has over 3000 employees and produces over 400 medicine products. BPL has a tall organizational structure with the Chairman and Directors at the top, CEO and other managers in the middle, and various department directors and managers below them. BPL creates strategic plans by analyzing its industry, setting objectives, and developing policies to achieve its long-term goals of increasing access to quality medicines.

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    Management Practice in Beximco Pharma

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    Management helps organizations achieve their goals by planning, coordinating, and implementing operations. Management is necessary for every step of an organization. Beximco Pharmaceuticals Limited (BPL) is Bangladesh's largest pharmaceutical company. It has over 3000 employees and produces over 400 medicine products. BPL has a tall organizational structure with the Chairman and Directors at the top, CEO and other managers in the middle, and various department directors and managers below them. BPL creates strategic plans by analyzing its industry, setting objectives, and developing policies to achieve its long-term goals of increasing access to quality medicines.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    966 views15 pages

    Management Practice in Beximco Pharma

    Uploaded by

    Towsif Noor Jamee
    Management helps organizations achieve their goals by planning, coordinating, and implementing operations. Management is necessary for every step of an organization. Beximco Pharmaceuticals Limited (BPL) is Bangladesh's largest pharmaceutical company. It has over 3000 employees and produces over 400 medicine products. BPL has a tall organizational structure with the Chairman and Directors at the top, CEO and other managers in the middle, and various department directors and managers below them. BPL creates strategic plans by analyzing its industry, setting objectives, and developing policies to achieve its long-term goals of increasing access to quality medicines.

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    Introduction

    What Is Management :
    Management is the art of making effective use of resources to achieve goals. It
    concerns planning, coordinating and implementing all aspects of an organizations
    operation in a manner which fulfils the organizations aims. In other words, once a
    museum identifies its purpose, good management helps to achieve it. As different
    processes are needed to achieve various aims, we tend to discuss management practices
    in terms of particular functions.
    Why an organization should practice management:
    Management is the sole of an organization. An organization cant run without
    management. Management is necessary in every steps of an organization. Management
    Practice is using managerial process to run an organization. Every organization has a goal
    & objective, management set this goal and it says how an organization can achieve this
    goal. The basic operations of an organization (Planning, Organizing, Staffing, Leading
    and Controlling) are performed by different levels of managers. So we can say that every
    organization should practice management in proper way.

    Here we discuss about the management practice of Beximco Pharmaceuticals


    Limited.

    -1-

    Profile of Beximco Pharmaceuticals Limited


    Company Name: Beximco Pharmaceuticals Limited (BPL)
    Date of Establishment: 1976 (Start operation in 1980)
    Organization Structure: Tall Structure
    Address: 19 Dhanmondi R/A, Road No. 7, Dhaka 1205, Bangladesh.
    Vision: We Are Building a Healthier Tomorrow
    Mother Company: Beximco Group

    Data Interpretation of BPL:

    Beximco Pharmaceuticals Ltd (BPL) is a leading manufacturer of pharmaceutical


    formulations and Active Pharmaceutical Ingredients (APIs) in Bangladesh. The company
    is the largest exporter of pharmaceuticals in the country and its state-of-the-art
    manufacturing facilities are certified by global regulatory bodies of Australia, Gulf
    nations, Brazil, among others. The company is consistently building upon its portfolio
    and currently producing more than 400 products in different dosage forms covering
    broader therapeutic categories which include antibiotics, antihypertensive, anti-diabetics,
    anti asthma inhalers etc, among many others.
    BPL decades of contract manufacturing experience with global MNCs, skilled
    manpower and proven formulation capabilities, the company has been building a visible

    -2-

    and growing presence across the continents offering high quality generics at the most
    affordable cost.
    Ensuring access to quality medicines is the powerful aspiration that
    motivates more than 3000 employees of the organization, and each of them is guided by
    the same moral and social responsibilities the company values most.

    -3-

    Organization Structure of BPL:

    -4-

    Chairman

    ViceChairman
    Director

    Director

    Director

    Director

    Director

    Director

    CEO

    Chief
    Financial
    Officer
    Chief
    Operating
    Officer

    Director,
    Sales

    Director, Int.
    Marketing

    Director,
    Manufacturin
    g

    GM

    Senior
    Manager

    -5-

    Director

    Director

    Different Duties Performed by the Executives of BPL:


    Different jobs are performed by different groups of people. One cant do every
    thing. We know there are different skills in different level of management. These skills
    are:
    Technical Skill
    Human Skill
    Conceptual Skill
    Design Skill
    Technical skill is very essential for operation level executives. The director of
    manufacturing should have some technical skills. S/he should know about the raw
    chemicals, the production process and other things related to production. The other top
    executives also have some technical skills, but it is too low.
    Human skill is very important for the middle and first level managers. The Int.
    Marketing Director, Sales Director, GM, Senior Managers should have this skill. These
    people are always working with field officers, different clients and some time with
    workers. So they should have the ability to communicate with people.
    Conceptual skill is important for top and middle level managers. It means the
    ability to see the Big Picture. Top level people should able to see future. In future what
    is the position of BPL is set by the Directors, CEO and GM of this company.
    Design skill is very essential for top management. The Chairman, Vice-chairman,
    Directors and CEO can able to solve the problems without hampering any group. They

    -6-

    can take have the skill that prevent the problems. This group of management must have
    a skill of good design engineering in working out a practical solution to a problem.

    The Planning Process of Beximco


    Pharmaceuticals Limited
    Different types of planning sets by BPL:
    Every organization must have a plan and this plan is created through a process.
    BPL also has many plans for their different operation. BPL divides its plans in different
    types.
    Purpose or mission
    Objectives & goals
    Strategies
    Policies
    Budget
    Different time period of planning
    The purpose or mission is the basic task of BPL. The main mission of BPL is
    making profit by producing pharmaceutical formulations and Active Pharmaceutical
    Ingredients (APIs). So they set plans to accomplish their main mission.
    The objective & goal of BPL is accomplished their mission and doing the other
    tasks like staffing, organizing leading & controlling. For this reasons they set their plans
    to gain their objectives.

    -7-

    BPL set its plan by determining its strategies. How much resources they have and
    how they use it properly is a big issue for planning. So they evaluating their resources
    and its allocation before set a plan.
    Every organization has a policy. BPL set its plan by maintaining its policies. They
    make their policies that how a plan can create, who can create a plan or what is the range
    of planning.
    Budget is the biggest issue for planning. Before setting plans BPL check its
    budget. They always try to make balance between budget and plans.
    BPL divides its plans in different time period. They make short term, mid term
    and long term plans. For different tasks BPL takes these different plans. Their short term
    plans took one day to one year, mid term plans took one year to five or ten years and long
    term plans take ten to twenty years.
    The steps in planning followed by BPL:
    Aware of opportunities
    Establishing objectives
    Developing Premises
    Determining alternative courses
    Evaluating alternative courses
    Selecting a course
    Formulating derivative plans
    Numerating plans
    There is so many opportunities are come when a plan want to set. So BPL should

    -8-

    always aware about these opportunities. It can evaluate the opportunities and select the
    best one.
    After that BPL establish its objectives. It declares the objectives to the employees
    of this whole enterprise. The employees are mentally prepared for achieve the objectives
    set by the top management of BPL.
    Then BPL is determining the alternative courses. They examine the alternative
    ideas from many other opportunities, specially the plans those not immediately apparent.
    Every plan has more than one alternative, if the plan has no alternative it is wrong.
    After determining alternatives, BPL evaluating the alternatives. Here BPL
    examines their strong and the weak points. Then match it with the alternatives and their
    objectives. They evaluate these alternatives in a logical process.
    After evaluating BPL select the best idea as a plan. It is the point of real decision
    making for the management of BPL. Here they examine their opportunities, threats,
    weakness and strength, then make a final decision.
    After making a decision BPL design some plans that support the basic plan. Here
    they evaluate the characteristics the basic plan and make decisions that fulfil the error of
    the main plan and make it more logical & practical.

    -9-

    The Objectives of Beximco Pharmaceuticals


    Limited
    Every organization has an objective that the achievement the goals, set by the top
    level management of the organization. There are different sub objectives that are
    accomplished by the different level of management.
    A Hierarchy of Objective of BPL:

    - 10 -

    Socio economics
    purpose

    Chairman, Vice-chairman,
    Directors

    Mission
    CEO, CFO & other top
    level managers
    Overall objectives
    of the organization
    More specific
    overall objectives

    GM, Director: Marketing,


    Director: Sales, Director:
    Manufacturing, COO

    Division
    Objectives
    Department & unit
    objective
    Individual
    objectives
    performance
    personal
    development
    objective

    Senior managers &


    other lower level
    managers

    The Objective Setting Process of BPL:


    There are two types of objectives. One is verifiable and other is non-verifiable.
    BPL always use verifiable objective. In verifiable objective all plans are very specified by
    the management. BPL uses this method because it can create a clear concept about the
    decision to the employee and they can prepare themselves to fulfil the objectives.
    BPL & MBO:

    - 11 -

    MBO is a comprehensive managerial system that integrates many key managerial


    activities in a systematic manner and that is consciously directed towards the effective
    and efficient achievement of organization and individual objective. So BPL always tries
    to perform their managerial activities through objectives, means they set objectives first
    and then practically apply it through managerial activities.

    The Strategies & Policies of Beximco


    Pharmaceuticals Limited
    Strategies & polices are very essential for planning. A plan is depending on the
    strategies & policies of an enterprise. So BPL set its strategies & policies very carefully.

    - 12 -

    BPL thinks strategies are determining the purpose and basic ling run objectives and the
    adoption of course of action and allocation of resources necessary to achieve its aims.
    Policies are general statement or understanding that guides the managers of BPL in
    decision making purposes.
    The Strategic Planning Process Followed by BPL:
    Inputs
    Industry analysis
    Enterprise profile
    Orientation of top managers
    Purpose and major objectives
    External environment
    Internal environment
    Development of alternative strategies
    Evaluation & choice of strategies
    Medium and short range planning, implementation & control
    Consistency and contingency

    In strategic planning process the first thing is input. Here BPL inputs different raw
    data like the basic goals & objectives, their mission, vision and the basic aim of BPL.
    Here BPL also inputs the organization structure.

    - 13 -

    The next step for strategic planning process is industry analysis. In this step BPL
    segment the market in different parts. Then they evaluate the each segments
    attractiveness. Then they analysis the different threads and opportunities. They try to
    gather information about the potential buyers, suppliers, substitute product and
    competitive firms. In a word in this step BPL analyse the whole industry whether it will
    perfect for them or not.
    After analysing industry BPL make their enterprise profile. In this profile they
    show their mission, vision & objectives.
    The enterprise profile is shaped by the executives. So they must know how to get
    the success, what kind of task they should do, how to do and when to do. For these
    reasons top management gives some instructions to the executives.
    Then BPL sets the purpose and major objectives. It is the end points toward which
    the activities of BPL are directed.
    Here BPL evaluates the external environment that they shall face in future and
    now. The external environments are economic, social political, legal, demographic,
    geographic and so on. The present and external future environment must be assessed in
    term of threats and opportunities.
    Like external environment BPL also evaluates the internal environment that they
    shall face in future and present. The external environments are human resource, financial
    sources, production level, product or service quality, cost of raw materials, availability of
    raw materials etc.

    - 14 -

    Then BPL develops the alternative strategies. They set these alternative strategies
    by evaluating the internal and external environments. They evaluate the threats,
    opportunities, strong and weak points of the environments.
    After that BPL carefully evaluate various strategies then select one or more
    strategy for this organization. The strategic choice must be considered in light of the risks
    involved in a particular decision.
    Then BPL makes sure the implementation and control of medium and short range
    planning. For this reason they consider the all phases of the process.
    The last key aspect of BPL strategic planning process is consistency and
    contingency. During all phases of strategic planning process consistency testing is
    essential for BPL.

    - 15 -

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