Problems in Management System in Bangladesh and Way to Mitigate Them
Problems in Management system in Bangladesh and way to mitigate them
Management problem is a fundamental challenge for the country. It is essential to have efficient cost management if we want to see ourselves as an industrialized nation
Problems in the management systems are:
1. Problem of managing fund: The major problem a Business firm faces in its establishment period is the problem for capital or sufficient financing problem. One of the first questions any potential entrepreneur must ask is, "How do I get the money"? The type of the business may be anything but the money necessary for finance is must. Without necessary fuel (money) no ship (Small Business firm) can run As a new Business, there is very few chance to raises the capital from share market. Only personal and family funds and personal loan from the friends are major source. But in this way it is very hard to raise a sufficient amount of capital.
2. Lack of Govt activities:
There is a nonstop echo by the government leaders, ‘Come Sun, Come Rain’; trying to state that there is a constructive and favorable atmosphere for investment in Bangladesh. The authorities are either not working together with the relevant people with adequate response, or they are aware of the reasons for the investors stepping away, however still do not want to resolve problems purposefully with the presumption of ‘ostrich attitude’.
◊ Administrative coordination problem– Policies and the implementation processes are not materialized simultaneously because of lack of administrative communication and coordination among the government agencies. This situation results in high business costs and hassles for investors
◊ Good governance – Good governance can be defined as a desired condition of management and operations. Good governance along with efficient leadership is achieved by bringing accountability in politics and bureaucracy. Government has to reform its policies and business practices to attain good
Management problem is a fundamental challenge for the country. It is essential to have efficient cost management if we want to see ourselves as an industrialized nation
Problems in the management systems are:
1. Problem of managing fund: The major problem a Business firm faces in its establishment period is the problem for capital or sufficient financing problem. One of the first questions any potential entrepreneur must ask is, "How do I get the money"? The type of the business may be anything but the money necessary for finance is must. Without necessary fuel (money) no ship (Small Business firm) can run As a new Business, there is very few chance to raises the capital from share market. Only personal and family funds and personal loan from the friends are major source. But in this way it is very hard to raise a sufficient amount of capital.
2. Lack of Govt activities:
There is a nonstop echo by the government leaders, ‘Come Sun, Come Rain’; trying to state that there is a constructive and favorable atmosphere for investment in Bangladesh. The authorities are either not working together with the relevant people with adequate response, or they are aware of the reasons for the investors stepping away, however still do not want to resolve problems purposefully with the presumption of ‘ostrich attitude’.
◊ Administrative coordination problem– Policies and the implementation processes are not materialized simultaneously because of lack of administrative communication and coordination among the government agencies. This situation results in high business costs and hassles for investors
◊ Good governance – Good governance can be defined as a desired condition of management and operations. Good governance along with efficient leadership is achieved by bringing accountability in politics and bureaucracy. Government has to reform its policies and business practices to attain good