Strategic management is the art, science and craft of formulating, implementing and evaluating cross-functional decisions that will enable an organization to achieve its objectives. It is the process of specifying the organization's mission, vision and objectives, developing policies and plans, often in terms of projects and programs, which are designed to achieve these objectives and then allocating resources to implement the policies, and plans, projects and programs. Strategic management seeks to coordinate and integrate the activities of the various functional areas of a business in order to achieve organizational objectives. A balanced scorecard is often used to evaluate the overall performance of the business and its progress towards objectives (Wikipedia).
A. Origin of the Report
A report on the strategic management issues of SQUARE has been assigned by the course instructor of “Strategic Management (W601)”, Dr. A K M Saiful Majid as a partial requirement for the course. As per advice from the course instructor, this report has been prepared on “Strategic Management Issues of SQUARE”.
SQUARE is a Bangladeshi industrial conglomerate. The industries under this group include Textiles, Pharmaceuticals, Toiletries, Consumer products. Services provided by SQUARE include Health care (Hospitals), Information and Communication Technology. Visions of Square are to emphasize the quality of products, processes and services, leading to growth of the company imbued with good governance.
•To present an overview of SQUARE in terms of objective of inception, vision, mission and present market scenario. •To analyze SQUARE’s external environment in terms of dominant economic factors, Porter’s five forces model of competition, key success factors and key driving forces in banking industry. •To analyze the resources and competitive position of SQUARE. •To find out the application of the five generic competitive strategies at SQUARE. •To have an idea about important strategy choices other than the generic strategies of SQUARE. •To find out the diversification of strategies of SQUARE. •To present the ethical standards and social responsibility scenario of SQUARE. •To discover the corporate culture and leadership in SQUARE.
SQUARE is a very large group of companies. So this report focuses its study only on a few concerns of SQUARE. This report will analyze the strategic management issues of SQUARE Pharmaceuticals Ltd. and SQUARE Toiletries Ltd.
The objectives of the report indicate that the report is descriptive in nature. Therefore, the research design for the study is descriptive research design. Both primary and secondary sources of information will be used in writing this report. 1.Primary Source of Data
In the preparation of this report, primary data was collected through an unstructured interview of the following person: Mr. Abdullah Bin Javed, Manager, Accounts Department, SQUARE Mediacom. 2.Secondary Sources of Data
To prepare this report, various secondary data was also used. The sources were: •Annual reports of SQUARE
•Website of SQUARE.
•Brochures of SQUARE.
The limitation of this report is that it was not possible to cover all the different concerns of SQUARE. Moreover, some information was not possible to collect due to the confidential nature of such information.
II. SQUARE at a Glance
SQUARE is the largest group of companies in the country and its different manufacturing plants situated in different districts. It is one of the oldest and largest groups of companies operating in Bangladesh. Its corporate office based at Dhaka. The corporate office is guiding the groups' activities of all plants/units all over the country. The group currently employs around more than 1425 executives and 10575 employees.
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