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HRM Practice [Square Textile Ltd]

HRM Practice [Square Textile Ltd]

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Published by Abhijit Pathak

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Published by: Abhijit Pathak on Jul 12, 2009
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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 manufacturingand 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 andKnit Fabrics for 100% export oriented readymade Garments Industry.The strategic Goals and Objectives of the Company are to strive hard to optimize profit thoughconduction and transparent business operations and to create more competitive in the internal andexternal 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 after2005 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 administrativedepartment . The total number of employees are 1223. For the employees there are systematic inhouse training in home and abroad .The managing director, the CEO is the head of the executive management team . Below in there aredirectors , executive directors and general manager. Under the direct super vision of the generalmanager a number of departments are controlled.The Company is going through continuous growth in production . The total production increasedyear on year basis at the rates of 0.43% and 1.467% during 2002 and 2003 respectively . TheCompany’s operations are out on a aggregate basis and are managed as a single opportunitysegment . The Company uses Computer Aided Design (CAD) , Computer Aides Spreading (CAS) andComputer 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 haveconducted 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 collectedprimary 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 oHRM practice which are use here. Though it is a textile, it has proved itself in the related industry asa major competitor. In this report we have followed the guidelines provided by the teacher. Here wehave tasked not only the HRM practice but also the marketing, management, finance andoperational area of the Company.
1.0 COMPANY OVERVIEW1.1 ABOUT COMPANY:
Square Textiles Ltd. started its journey by establishing the first unit in 1997. One year later thesecond unit was established. Square Textile is a subsidiary company of Square Group .The Companywas incorporated as a public limited company in the year of 1994. The operation was started in1997.It was enlisted in Dhaka Stock Exchange & Chittagong Stock Exchange in 2002. Within a veryshort time of span the company achieved some significance success. Square Textile receives Oeko-Tex standard 100 and ISO-9002 certificates in the year 2000. Authorized capital of the company istk. 1000 million. It’s paid- up capital is tk. 251.90 million. 1,223 employees are working in thisorganization. The business lines of Square Textiles Limited are manufacturing and marketing of yarn. The factory is located in Saradaganj, Kashimpur, Gazipur, Bangladesh. Its office is located atUttara in Dhaka
1.2 MISSION STATEMENT:
 The mission statement of Square Textiles Limited is “Our mission is realization of vision throughmaximum production of goods and services strictly on ethical and moral standards at minimumcosts to the society ensuring optimum benefits to the shareholders and other stakeholders.” Thismission 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.
1.3. KEY PRODUCT / SERVICES:
As stated earlier the business line of the company is manufacturing and marketing of yarn. Itmanufactures:• 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 following services:-• 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 asfollows: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 toNe.40. In Square Spinning Ltd. 100% Cotton Carded and Combed Yarn in the count range of Ne.16to Ne.30 are produces. Finally in Square Fashion’s Ltd. Readymade Knit Apparels like T-shirts, Poloshirts, Tank tops, Pajamas, Sport wear, Under garments, Men’s & Ladies fashion wear , Kids wearetc
1.4 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 thelegal 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 the objective with emphasis on thequality of the product , process and services blended with good – governance that help build theimage of the most enable corporate – citizenship at home and abroad . The company wants toproduce such society friendly goods and services that go to satisfy the wants of all the relevantparty without disturbing or damaging the socio- economic and ecological, balance of the motherearth and the process of human civilization leading to peaceful co-existence of all the leavingbeings. The company always strives for top quality products at the least cost reaching the lowestrungs of the economic class of people in the country. The company values its obligation to thegreater society as well as it strives to protect the interests of it’s shareholders and to ensure highestreturn and growth of their assets.
2.0 MARKETING OVERVIEW2.1 POTENTIAL CUSTOMER:
 The target market for products produced in Square Textiles Ltd. and Square Spinning Ltd. is ExportOriented Readymade Garments Industry. Readymade Garments exporter that is Knit Fabrics,Sweater and Denim manufacturer. In Bangladesh Beximco Kitting, Grameen Knitwear, ShashaDenim, Knit Concern etc are the customers. Target market for products produced in Square FashionLtd. is Europe and U.S.A. Square Textiles does not direct sales in overseas market but sometimesIndia, Pakistan & other countries take their yarn.
2.2 SIZE & GROWTH OF MARKET:
 The Company’s marketing operations continued its emphasis on export sales over the years asdepicted below:
 Year - 2006Year - 2005Year - 2004

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