INDEPENDENT UNIVERSITY, BANGLADESH

Course title: Principles of Management

Course ID: MGT 201

Section: 3

SPRING 2021

Instructor- Dr. Nazmunessa Mahtab

Date- 6th May

Submitted By-
Name:sharmin akter

ID:1920193

Report on-

RANKS REAL ESTATE COMPANY

SL.
NUMBER TOPIC PAGE NUMBER

1
INTRODUCTION

2
COMPANY OVERVIEW

3
STRATEGIES TO IMPLEMENTED

4
TEAM EFFECTIVENESS

5
LEADERSHIP STYLE

6
CONCLUTION

7
REFFERENCE
 LETTER OF TRANSMITTAL
th
6 may 2021

Dr. Nazmunessa Mahtab

Senior Lecturer, MGT201-3

School of Business and Economics

Independent University Bangladesh

Bashundhara R/A

Dhaka, Bangladesh

Subject: Report on” RANKS REAL ESTATE COMPANY LIMITED .”.

Dear Madam,

With due respect, it is our pleasure and honor to be your student and have this opportunity to present a
report on “RANKS REAL ESTATE COMPANY LIMITED.” While preparing this report, i have given my best
effort throughout the topics. This will give me the opportunity to understand theoretical knowledge in
the practical field, which will help me in my future career.

i gave my best to accumulate required information. Lastly,I would be thankful once again if you please
give your valuable advice on my effort. Thank you.

Sincerely,

Sharmin akter

Id: 1920193
 EXECUTIVE SUMMARY
This report was commissioned to analyze and evaluate potentials and future prospects
of , RANKS Real Estate Ltd. The real estate sector is one of the growing and sectors in
Bangladesh . The government is playing a vital role in securing housing rights for their citizens
and moving forward. .

Infrastructural development is highly important for a country like Bangladesh which is

Because of spreading the virus rapidly, Governments are enforcing shutdowns and travel
restrictions frequently. In this pandemic customer situation and showing empathy will not only
ensure that you will be in their priority list to pay dues but also will win the goodwill among the
customers .

The majority of real estate developers use a hard copy of the document. if we can share our
documents online and Verify them online it will increase the credibility of the project. Client
and customers will be more confident to buy the product even if they are far away from the
project .

Multi-tasking team members and exchanging information with each other of the team can save
lots of time and avoid big mistakes in the project. The team leader should motivate the whole
team to reach the team g Internally and externally supportive team members can support the
team both way and can be more effective than a normal team goals.
INTRODUCTION

The real estate sector is one of the growing and sectors in Bangladesh. Infrastructural
development is highly important for a country like Bangladesh which is developing day
by day. Ensuring housing facilities for the citizens of the country is mandatory.

Housing, which is one of the five basic needs of human life. The government is playing
a vital role in securing housing rights for their citizens and moving forward.

Meanwhile, RANKS Real Estate Ltd. was established in the year 2008 with REHAB
membership. Though a continuous process, the company has successfully come up to
the present through meticulous management and effective client satisfaction. Now the
promising and pioneering company in the real estate of Bangladesh.

COMPANY OVERVIEW

RANKS Group is one of the premier conglomerates in Bangladesh. It’s headquarters in

Ranks Real Estate Limited, a concern of the RANKS Group, was incorporated as a
Private Limited Company under The Companies Act of 1994 on 13th October 2008 and
started its operation in 2010. The company is mainly engaged in Real-Estate Business.

Their teams are very dedicated and skilled and professional consisting of architects,
engineers, designers, planners and so on.

The mission of RANKS Real Estate Limited is to provide service at an economic cost.
Progress in diversity, continue to the growth of real estate sector in Bangladesh.
STRATEGIES IMPLEMENTED
The real estate industry has been affected by the 2nd Wave of Covid-19 Pandemic very
badly. Because of many foreign workers and engineers, works in our many projects were
unable to stay our country projects. Because of pandemic they are leaving our country &
Many of them are staying in their own country or own safe shelter. Therefore, we have a
shortage of construction workers same as all over the world. Real estate companies and
customers both are facing financial problems, which has slowed down the flow of funds
towards the developers. Almost the whole real estate eco-system has been affected very
negatively.
Because of spreading the virus rapidly, Governments are enforcing shutdowns and travel
restrictions frequently. That is why developers and customers are unable to visit our sites.
so we can focus on virtual tours. such as we can set more virtual cameras and dedicated
people who can record the work progress and show us virtually. In this way, we can get
our customer's trust and we can monitor our construction progress online. On our work
site, we will do mandatory for wearing the mask, hand sanitizer and follow PPE for
everyone. By Virtual visit in this pandemic, we can cover our physical visits and gain more
trust from our customers and developers. Customers and developers can check the work
online via the website and see the real-time progress of the projects.

We can digitization of our Documents and verification process so that we can verify
documents online via our websites and web-based software. The majority of real estate
developers use a hard copy of the document. if we can share our documents online and
Verify them online it will increase the credibility of the project. Client and customers will be
more confident to buy the product even if they are far away from the project.

Safety of the workers always comes First, especially during the pandemic situation. A
positive case can close the site for a certain period, and it can impact badly to the workers
That can lead to decrease the effectiveness of the work. Therefore, it’s very important to
take precautions like ensuring every worker wears a mask, encouraging workers to keep a
distance from each other, washing hands etc. this will help to maintain the guideline and
precaution of covid-19, also will create a sense of assurance in their minds.

A big challenge will take place in this Pandemic situation because of limited human
resources and uncertainty in the fund and material supply. Developers must reduce
wastes and utilizing the most from the available resources. All the tasks need to be
effectively organized and have to avoid delay and reworks at the finishing stage.

Due to lock down and travel restrictions, many manufacturers are unable to deliver the
materials at the scheduled time. so the developer need to select the right companies,
vendors, and suppliers who have the availability of the materials. so that project work will
not stop in this situation without much hampering the quality would help.
In this pandemic customer situation and showing empathy will not only ensure that you will
be in their priority list to pay dues but also will win the goodwill among the customers. This
will be a good strategy to have a word-of-mouth marketing and referrals from your existing
customers.

TEAM EFFECTIVENESS
In the pandemic time, Real estate company must be more effective, because this time
we have limited workers and suppliers so if we do any mistake that will suffer us more
than normal time.

Firstly, we must clear our goals like what we want to do during the project deadline, how
can we do it more effectively. Our goals should be clear to team members so that they
can get a clear idea about it. Confusion of the goals can lead to a big-time loss and can
create a huge problem for the project. When we will select our team members for the
project, we must consider the relevant technical and interpersonal skills. A properly
skilled person in the team can solve the problem easily and project progress will be
consistent, and we can finish the project on time and use sufficient resources and save
money.

Multi-tasking team members and exchanging information with each other of the team
can save lots of time and avoid big mistakes in the project. The team leader should
motivate the whole team to reach the team goals and team members committed to the
team goals should be focused. A good communication system should be available for
the team so that they can easily communicate with each other and develop good ideas
for the team. Negotiating skills should be present among the team members so that
they negotiate their skills with their team members and share their skills with each other
tasks. Appropriate leadership is required for an effective team. Without its team cannot
focus and follow their goals properly. Internally and externally supportive team members
can support the team both way and can be more effective than a normal team, so it is
more important. Overall, without those Quality, a team cannot be effective and that is
will not help the company, especially in this pandemic.
LEADERSHIP STYLE
From the study, there are four types of leadership styles that should be followed by a
company to be successful. Like- TELLLING, SELLING, PERTICIPATING,
DELEGATING.

These four types of leadership method are depending on four types of followers or
employee readiness. The employees may show four different types of behavior in
different situations. Being a Chief Operating Officer (COO) the behaviors of them must
be controlled based on these four types of behavior relating the four types of effective
leadership styles to make in under control.

The steps can be followed as-

If the employees are unable and unwilling to follow the precautions and safety protocols,
means their activities & behavior are at low level this should have to be developed.
Managers must be more careful to them, monitor them and keep motivating to maintain
the safety. Being one of the leaders the relationship between the leaders and
employees must be improved. In these situations, it is considered as the telling stage.
here the role of the manager is very large. He must be very sincere towards his
responsibility.

Once the employees are motivated to follow the precautions means they are ready for
selling. They are on the following the right way, somehow, they are willing but unable to
hold the directions or new rules. Since they are newly participating the activities, here
the task quality will be low and not so good, but the major fact is the relationship
leadership is at high level and soon it will reach the expected range. His work will be
keep going to motivate and make employees understand.

By participating regularly, the employees will get use to will the protocols and the new
working methods. At this point, the managers leadership style can be considered as
quite successful. The employees’ hands get better so the level of working is high. So,
company’s progress will be in a better flow than before. This stage is considered as
participating, where relationship of task-leadership is higher and properly controlled by
the leaders.

Passing the three steps successfully, here the employees are now able and willing to
follow and easily adjustable to the workplace environment. This portion of the leadership
can be considering as developing one. Here managerial work- controlling, monitoring,
motivating situation gets downward. He has less work to do. Employees are self-
controlled and faithful to measure their safety well.
CONCLITION
The report is covering the strategies that the RANKS REAL ESTATE COMPANY may
follow in this Covid-19 pandemic- how they will maintain their mission, vision, reach to
their goals without hampering the lives.

Next is their effective roles as teams to survive together and make a stable situation in
and outside of the company.

Finally, the managerial work strategies has also been included since without the
managers’ successful roles the company will face disasters.

REFFERENCE

https://timesofindia.indiatimes.com/blogs/subham-mohanty/5-strategies-the-real-
estate-developers-can-adapt-to-fight-with-the-pandemic/

http://dspace.bracu.ac.bd/xmlui/handle/10361/7807

http://dspace.bracu.ac.bd/xmlui/bitstream/handle/10361/7807/14164079%20_MB
A.pdf?sequence=1