Strategic Management of Square Textile

Topics: Committee, Knitting, Textile Pages: 9 (1853 words) Published: December 6, 2011
Historical Background

Square Group is one of the most renounced pharmaceutical companies in Bangladesh. This group inaugurated their journey through Square firm in 1958. This is the first medicine exporting firm in the country. It’s contributing to the national economy by exporting medicine from 1987 to till now.

Square group is no longer confined to medicine production. They have diversified their activities. In 1988 they established Square Toiletries. In 1997 they established Square Textiles. In 2000 Square spinning started exporting by satisfying the local market. In 2001 Square group lunched many other firms: Knit Fabrics, Square Fashions Limited, Square Informatics, Square Consumer Product and Square Hospital. Now their total asset is about $200 million. And, yearly investment is about $300 million.

The companies of Square Group of Industries are

• Square Pharmaceuticals Ltd.
• Square Textiles Ltd.
• Square Spinning Ltd.
• Square Toiletries Ltd.
• Square Consumer Products Ltd.
• Square Informatix Ltd.
• Square Health Products Ltd.
• Square Agro Ltd.

Square Textile Ltd. started its operation in 1997. It was enlisted in Dhaka Stock Exchange & Chittagong Stock Exchange in 2002. The business lines of Square Textile Ltd. are manufacturing and marketing of yarn. Its factory is located in Gazipur, Dhaka. It manufactures 100% Cotton Ring Span Yarn or Hosiery, 100% Cotton OE Rotor For Hosiery and Knit Fabrics for 100% export oriented readymade Garments Industry.

Company Profile

The Square Textile is located in Saradaganj, Kashimpur, Gazipur, Bangladesh. Its office is located at Uttara in Dhaka. The business lines of Square Textiles Limited are manufacturing and marketing of yarn. 1,223 employees are working in this organization. Authorized capital of the company is tk. 1000 million. It’s paid- up capital is tk. 251.90 million.

Mission Statement

The mission statement of Square Textiles Limited is “Our mission is realization of vision through maximum production of goods and services strictly on ethical and moral standards at minimum costs to the society ensuring optimum benefits to the shareholders and other stakeholders.” This mission is envisioned by the concept of business which ensures well being of the investors, stakeholders, employees and members of the society which will create new wealth in the form of goods and services.

Key product/Service

As stated earlier the business line of the company is manufacturing and marketing of yarn. It manufactures

• 100% Cotton Ring Span Yarn For Hosiery
• 100% Cotton OE Rotor Yarn for Hosiery
• Knit Fabrics for 100% export oriented readymade Garments Industry.

It also performs the services of dying & post mercerization & fabric dying

The final output is marketwise by Square Fashion Ltd. In Square Textile Limited two types of products are produced in two different units. These are as follows

Unit 1: Combed and Carded Yarn from a count range of Ne.10 to Ne.80.

Unit 2: Combed Ring Yarn from a count range of Ne.20 to Ne.40. In Square Spinning Ltd. 100% Cotton Carded and Combed Yarn in the count range of Ne.16 to Ne.30 are produces. Finally in Square Fashion’s Ltd. Readymade Knit Apparels like T-shirts, Polo shirts, Tank tops, Pajamas, Sport wear, Under garments, Men’s & Ladies fashion wear , Kids wear etc

Strategic Goals & Objectives

The company sets the following objectives for it to achieve

• To strive hard to optimize profit through conduction of transparent business operations within the legal and social framework with malice to none and justice for all • To create more jobs with minimum investments

• To be competitive in the internal as well as external markets • To maximize export earning with minimum imported in-puts • To reduce the income gap between top and bottom categories of employees.

Thus the company focuses to pole-star its mission that fulfill...
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