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Executive Summary

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:

Planning work and setting expectations,

Continually monitoring performance,

Developing the capacity to perform,

Periodically rating performance in a summary fashion, and

Rewarding good performance.

Planning: In an effective organization, work is planned out in advance. Planning means


setting performance expectations and goals for groups and individuals to channel their efforts
toward achieving organizational objectives. Getting employees involved in the planning
process will help them understand the goals of the organization, what needs to be done, why
it needs to be done, and how well it should be done.
The regulatory requirements for planning employees performance include establishing the
elements and standards of their performance appraisal plans. Performance elements and
standards should be measurable, understandable, verifiable, equitable, and achievable.
Monitoring: In an effective organization, assignments and projects are monitored
continually. Monitoring well means consistently measuring performance and providing
ongoing feedback to employees and work groups on their progress toward reaching their
goals.
Regulatory requirements for monitoring performance include conducting progress reviews
with employees where their performance is compared against their elements and standards.
Ongoing monitoring provides the opportunity to check how well employees are meeting
predetermined standards and to make changes to unrealistic or problematic standards. And by
monitoring continually, unacceptable performance can be identified at any time during the
appraisal period and assistance provided to address such performance rather than wait until
the end of the period when summary rating levels are assigned.

Developing: In an effective organization, employee developmental needs are evaluated and


addressed. Developing in this instance means increasing the capacity to perform through
training, giving assignments that introduce new skills or higher levels of responsibility,
improving work processes, or other methods. Providing employees with training and
developmental opportunities encourages good performance, strengthens job-related skills and
competencies, and helps employees keep up with changes in the workplace, such as the
introduction of new technology.
Carrying out the processes of performance management provides an excellent opportunity to
identify developmental needs. During planning and monitoring of work, deficiencies in
performance become evident and can be addressed. Areas for improving good performance
also stand out, and action can be taken to help successful employees improve even further.
Rating: From time to time, organizations find it useful to summarize employee performance.
This can be helpful for looking at and comparing performance over time or among various
employees. Organizations need to know who their best performers are.
Within the context of formal performance appraisal requirements, rating means evaluating
employee or group performance against the elements and standards in an employees
performance plan and assigning a summary rating of record. The rating of record is assigned
according to procedures included in the organizations appraisal program. It is based on work
performed during an entire appraisal period. The rating of record has a bearing on various
other personnel actions, such as granting within-grade pay increases and determining
additional retention service credit in a reduction in force.
Although group performance may have an impact on an employees summary rating, a rating
of record is assigned only to an individual, not to a group.
Rewarding: In an effective organization, rewards are used well. Rewarding means
recognizing employees, individually and as members of groups, for their performance and
acknowledging their contributions to the agencys mission. A basic principle of effective
management is that all behavior is controlled by its consequences. Those consequences can
and should be both formal and informal and both positive and negative.

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.

Managing Performance Effectively: In effective organizations, managers and employees


have been practicing good performance management naturally all their lives, executing each
key component process well. Goals are set and work is planned routinely. Progress toward
those goals is measured and employees get feedback. High standards are set, but care is also
taken to develop the skills needed to reach them. Formal and informal rewards are used to
recognize the behavior and results that accomplish the mission. All five component processes
working together and supporting each other achieve natural, effective performance
management.
About Square Pharmaceuticals Ltd.

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

Purchase & Maintenance Division

Transport and Distribution Division

Lab and Raw materials Division

Finally Computer or IT Division

Finance & Audit Division

Square group distinguish all department but they collaborate with one to one division for
achieve employees satisfaction and company goal

Environmental Influences on Management Programs:


There are the internal and external environmental factors that affect on management program
of the Square Pharmaceuticals Company. Internal and External factors are given below:
Internal environment including all internal factors like setting plan, how to achieve goal,
recruits employees, set up appropriate man to appropriate section, distribution work etc. all
are internal strategy.
External environment including all external factors like marketing channel, consumer,
distributor raw materials, getting information for company etc. all are external strategy.
Performance Appraisal Training: 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.
Square pharmaceuticals also offer to their employees give up training for getting more benefit
of company and staffs do their best for that. Employees promotion depends on their
performance and activities.
Self Appraisals: Self appraisal is an important part of the Performance appraisal process
where the employee himself gives the feedback or his views and points regarding his
performance. Usually this is done with the help of a self appraisal form where the employee
rates himself on various parameters, tells about his training needs, if any, talks about his
accomplishments, strengths, weaknesses, problems faced etc.
Square group followed all rules and regulations for improving their employees self appraisal.
Succession planning & Performance management: Succession planning is ensuring the
right people in the right place at the right time. It is a part of HR planning for the organization
and involves finding the right people to take higher responsibilities in the organization. The
success of the organization is largely dependent on the quality of its human resources and
leaders of the organizations. Succession planning is proactive in nature and results in the

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:

Referral of people in other firms

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:

Methods, techniques and guidelines for setting goals and objectives

How to evaluate the performance and rate the employees

How to complete a performance appraisal form

How to maintain objectivity in the appraisal

Responding to employee reactions

Improves rapport and communication

Building morale and motivating employees

Observing and measuring performance

Post review actions

Conclusion: The performance and appraisal management system in Square Pharmaceuticals


Company is a planned system. They use different management tools for establishing their
performance and appraisals management. In the above discussion we can easily understand
that, Square Pharmaceuticals Company mainly depends on their organizational distinguish of
department. This divisional employees team earned a great market share in every year also

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.

Chronology Since Inception


1958 : Debut of SQUARE Pharma as a Partnership Firm.
1964 : Converted into a Private Limited Company.
1974 : Technical Collaboration with Janssen Pharmaceuticals, Belgium, a subsidiary of
Johnson and Johnson International, USA.
1982 : Licensing Agreement signed with F. Hoffman-La Roche & Co Ltd., Switzerland.
1985 : Achieved market-leadership in the pharmaceutical market of Bangladesh among all
national and multinational companies.
1987 : Pioneer in pharmaceutical export from Bangladesh.
1991 : Converted into a Public Limited Company
1994 : Initial Public Offering of shares of SQUARE Pharmaceuticals Ltd.
1995 : Chemical Division of SQUARE Pharmaceuticals Ltd. starts production of Active
Pharmaceutical Ingredients (API).
1997 : Won the National Export trophy for exporting pharmaceuticals.
1998 : Agro-chemicals & Veterinary Products division of SQUARE Pharmaceuticals starts its
operation.

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

We view business as a means to the material and social 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.
Objective

Our objectives are to conduct transparent business operation based on market


mechanism within the legal & social framework with aims to attain the mission
reflected by our vision.