Professional Documents
Culture Documents
This report is part of the Human Resource Management Course requirement of the BBA
program in this Semester. Our report portrays the process of performance appraisal and
management of square pharmaceuticals ltd.
We did this report on the The process of performance management and appraisal of a known
Company. We choose the Square Pharmaceuticals Company for preparing the formal report.
So, this report is only appropriate for the Square Pharmaceuticals Company. Other than this,
the report will not work at all.
We choose the Square Pharmaceuticals Company for preparing our report. We took help from
the employees of the Square Pharmaceuticals Company Ltd. and discussed with them about
their performance and appraisal management system and other things also.
Performance management is the systematic process by which an agency involves its
employees, as individuals and members of a group, in improving organizational effectiveness
in the accomplishment of agency mission and goals. Process of performance appraisal is the
setting up of the standards which will be used to as the base to compare the actual
performance of the employees.
Square Pharmaceuticals Company always measure their staffs, department and performance
behavior also. They create their performance management and appraisal system in a planned
way.
Introduction: Performance management is a way to create best method for effectively using
organizational employees also gets organizational mission and goal. And taking an integrated,
goal oriented approach to assigning, assessing, training, and rewarding employees
performance. Mainly an organizational performance management focuses on organizational
employees or staffs.
Every organization conducts performance for assessing the performance of the employees
and the organization. But if not conducted properly, they can give a false impression about
the performance of the employees and affect the overall performance of the organization;
therefore, there is a need to train the appraisers to ensure the maximum effectiveness of the
process.
Employee performance management includes:
Good performance is recognized without waiting for nominations for formal awards to be
solicited. Recognition is an ongoing, natural part of day-to-day experience. A lot of the
actions that reward good performance like saying Thank you dont require a specific
regulatory authority. Nonetheless, awards regulations provide a broad range of forms that
more formal rewards can take, such as cash, time off, and many non monetary items. The
regulations also cover a variety of contributions that can be rewarded, from suggestions to
group accomplishments.
Now, we measure the process of performance appraisal management. Given a chart to
mention the main term to achieve organizational goal and mission followed by accompany.
Historical Background:
SQUARE today symbolizes a name a state of mind. But its journey to the growth and
prosperity has been no bed of roses. From the inception in 1958, it has today burgeoned into
one of the top line conglomerates in Bangladesh. Square Pharmaceuticals Ltd., the flagship
company, is holding the strong leadership position in the pharmaceutical industry of
Bangladesh since 1985 and is now on its way to becoming a high performance global player.
SQUARE Pharmaceuticals Ltd. is a glorious name in the history of pharmaceuticals industry.
The company was established in 1958. From the period of establishment it never looked
back. The company is holding the strong leadership position in the pharmaceutical industry of
Bangladesh since 1985 and is now on its way to becoming a high performance global player.
Vision:
We see business as a means to the wellbeing of the investors, employees and the society at
large, leading to accretion of wealth through financial and moral gains as a part of the process
of the human civilization.
Mission:
Their mission is to provide quality & innovative healthcare relief for people, maintain
stringently ethical standard in business operation also ensuring benefit to the shareholders and
other stakeholders.
Objective:
Their objectives are to conduct transparent business operations within the legal & social
frame work with aims to attain the mission reflected by their vision.
Corporate Governance
Top Management:
As per provisions of the Article of Association, Board of Directors holds periodic meetings to
resolve issue of policies and strategies, recording minutes/decisions for implementation by
the Executive Management.
Executive Management:
The Executive Management is headed by the managing director, the chief Executive Officer
(CEO) who has been delegated necessary and adequate authority by the Board of Directors.
The Executive Management operates through further delegations of authority at every
echelon of the line management. The Executive Management is responsible for preparation of
segment plans or sub-segment plans for every profit centers with budgetary targets for every
item of goods & services and is held accountable for deficiencies with appreciation for
exceptional performance. These operations are carried out by the Executive Management
through series of committees, sub-committees, ad-hock committees, standing committees
assisting the line management.
Distinguish Department:
We already know that, Square pharmaceuticals one of the best pharmaceuticals company in
Bangladesh also they have claimed that is number one position in BD. And the position they
got not only their product quality also their good administrative system. They maintain good
communicate with their employees cause of increase productivity and also train their
employees and give best intensive for employees. Square group distinguish different
department for getting more benefit for staffs and company profit. Their several departments
is given below,
HRM Department
Marketing Department
Accounts Division
Sales Division
Square group distinguish all department but they collaborate with one to one division for
achieve employees satisfaction and company goal
creation of a talent pool of candidates with the required potential and competencies who can
take the high positions in future and help in the growth of the organization.
Recruitment & Selection Process: The recruitment system of square pharmaceuticals
company followed many formal procedures. Their recruitment system is depending upon two
basic sources: one is internal and other is external source.
Internal Source: Square Pharmaceuticals Companies internal sources are recruiting current
company employees for the sales force department. In their HR department, each employee
has personal records, performance a record which is varying from other employees. So if an
employees performance is better than company give the promotion. These types of recruiting
reduce the cost and time also.
External Sources: Square Pharmaceuticals Company some external sources for recruiting.
Some sources are given below:
Advertisements
Employment Agencies.
Selection Procedures:
Square Pharmaceuticals Company typically use some selection tools, they are:
Personal Interviews
Reference Checks
Physical Examination
Personality tests
Intelligence tests
Motivation of Employees: Motivation is viewed as the amount of effort the salespersons and
other employees desires to expend on each activity or task associated with the job. In every
organization, if sales people are not motivated they dont give any extra benefit for the
organization. Square pharmaceuticals also motivate their employees in different ways. Now
we discussed about their motivation system.
Square pharma mainly give reward depending on each sales persons performance. They
always set a quota for every sales people. They told them, if a sales person can fulfill his
quota early than he will receive 2% commission on each product. They also tell them if any
one can sell highest amount of product three years in a row, than he/she will get promotion.
These types of motivation sometimes appropriate for the organization. Square also give some
commission on extra sell in every product. In this way they motive their sales people also
departmental staffs.
Reward for superior performance: Square pharmaceuticals ltd. recognizes superior
performance. When their any employees performance is better than other employees, then
that employees get reward from the organization.
Fairness: Square pharmaceuticals Company always follow fairness when they give any
reward. Fairness creates a value for the employees mind and them emphasis more on their
work.
All managers and supervisors who consult performance appraisals should be given
training for the following steps also followed square this strategy:
get promotion. Their total activates is a very well defined, thats why their divisional people
are more active than any other pharmaceuticals company. In our country, pharmaceuticals
company mainly use personal selling as promotional tools. So they should more emphasize
on this promotional tools, also focus on internal and external activities.
2001 : US FDA/UK MCA standard new pharmaceutical factory goes into operation built
under the supervision of Bovis Lend Lease, UK.
2004 : SQUARE enlisted as UNICEF's global supplier.
2005 : New State-of-the-Art SQUARE Cephalosporins Ltd. goes into operation; built under
the supervision of TELSTAR S.A. of Spain as per US FDA/ UK MHRA requirements.
2007 : SQUARE Pharmaceuticals Ltd., Dhaka Unit gets the UK MHRA approval.
2009 : Starts manufacturing of insulin maintaining quality standards of US FDA & UK
MHRA. Dedicated hormone & steroid products manufacturing facility complying with the
current Good Manufacturing Practice (cGMP) of WHO, US FDA & UK MHRA starts
operation.
2012 : SQUARE Pharmaceuticals Ltd., Dhaka Unit and SQUARE Cephalosporins Ltd. get
the Therapeutic Goods Administration(TGA) of Australia approval.
2015 : PAI (Pre Approval Inspection) by US FDA was successful for Dhaka Sites solid
dosage unit.
: WHO approved Squares GMP.
Mission
Our Mission is to produce and provide quality & innovative healthcare relief for
people, maintain stringently ethical standard in business operation also ensuring
benefit to the shareholders, stakeholders and the society at large.
Vision