Hr Practices in Bangladesh – Square Textile Ltd
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EXECUTIVE SUMMARY
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.
The manufactures 100% Cotton Ring Span Yarn or Hosiery , 100% Cotton OE Rotor For Hosiery and Knit Fabrics for 100% export oriented readymade Garments Industry.
The strategic Goals and Objectives of the Company are to strive hard to optimize profit though conduction and transparent business operations and to create more competitive in the internal and external market.
In home, customer of Square Textile Limited are export oriented readymade Garments Industry. The Company also exports its products to the market of Europe & USA .
The export sells increased by 19% in 2003 over the previous year.
Competition level is increasing both in local and abroad market . Competition will be more stiff after 2005 when multifiber agreement will be phaced out. Among the other foreign competitors Srilanka , China Pakistan and India are prominent.
Square is one of the biggest employees in Bangladesh. It has a personnel and administrative department . The total number of employees are 1223. For the employees there are systematic in house training in home and abroad .
The managing director, the CEO is the head of the executive management team . Below in there are directors , executive directors and general manager. Under the direct super vision of the general manager a number of departments are controlled.
The Company is going through continuous growth in production . The total production increased year on year basis at the rates of 0.43% and 1.467% during 2002 and 2003 respectively . The Companys operations are out on a aggregate basis and are managed as a single opportunity segment . The Company uses Computer Aided Design (CAD) , Computer Aides Spreading (CAS) and Computer Aided Manufacturing (CAM) in its plant to increase the overall efficiency and productivity.
OBJECTIVE:
The broad objective of this report is to provide an overview of HRM practice of Square Textiles Ltd. The specific objectives of this report are :
* To provide Company overview
* To provide market overview and analysis
* To reveal operational, management and HRM planning.
* Discuss all HRM practice
METHOLODGY:
To prepare this report we have collected data from different published materials. Then we have conducted a secondary study. After that we have prepared a questionnaire and took interview one of the executive serving in this Company. We also collect data from internet .This way we collected primary data. Thus we have used both primary and secondary report to prepare this report.
INTRODUCTION:
This report is prepared as a requirement of the course “Seminar in Human Resource Management.” We selected Square Textiles Ltd. Working on this organization we came to know various Kind of HRM practice which are use here. Though it is a textile, it has proved itself in the related industry as a major competitor. In this report we have followed the guidelines provided by the teacher. Here we have tasked not only the HRM practice but also the marketing, management, finance and operational area of the Company.
1.0 COMPANY OVERVIEW
1.1 ABOUT COMPANY:
Square Textiles Ltd. started its journey by establishing the first unit in 1997. One year later the second unit was established. Square Textile is a subsidiary company of Square Group .The Company was incorporated as a public limited company in the year of 1994. The operation was started in 1997.It was enlisted in Dhaka Stock Exchange & Chittagong Stock Exchange