Professional Documents
Culture Documents
MBA 515 Final
MBA 515 Final
Submitted to
Dr. Md. Anowar Hossain Bhuiyan
Assistant Professor
School of Business & Entrepreneurship
Submitted By
Name ID
Ehteshamul Haque Sunny 2222880
Sumaiya Tabassum Sami 2222281
Tanaz Kabir 2130942
Kazi Anisul Islam 1931020
Sadaf Bin Hossain 2111018
Sadia Rubyath 2222284
Date of Submission
21st August 2023
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Letter of Transmittal
21st August 2023
Dear Sir,
With due respect and humble submission, we are very fortunate to be your students and would
like to thank you for allowing us to work on the report based on “Sustainable Business
Practices in Square Pharmaceuticals”. We have provided all the required information and
hope that our information will provide a clear idea of the whole process. We have tried heart
and soul to complete this report with perfection and have gathered sufficient information about
what we have learned from the course “MBA-515”. There may be mistakes as we are not
experienced enough and we are requesting you to consider them. We humbly request you
accept this report and judge us with some leniency for any kind of mistake that we have made.
Thank you for believing in us & giving us this wonderful opportunity and we hope this report
will entice your kind appreciation.
Sincerely Yours,
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Acknowledgement
We are extremely grateful to Dr. Md. Anowar Hossain Bhuiyan, our respected faculty, for
providing us with a strong direction throughout multiple discussions. He served as the report's
invisible base and more than eagerly answered all of our questions about it. We are incredibly
grateful to him for his enthusiastic interest in and continual encouragement of our report.
Additionally, we would like to express our sincere appreciation to everyone who helped us
with this task either directly or indirectly. Many people provided insightful comments and
recommendations on this report, which inspired us to significantly improve the report. We
express our gratitude to everyone who contributed directly or indirectly to the completion of
our work.
Thank you.
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Executive Summary
One of our nation's most well-known pharmaceutical enterprises is "Square Pharmaceuticals
LTD." The corporation was founded by the late Mr. Samson Hossain Chowdhury, the former
chairman of the organization, and his fellow stockholders with the goal of providing enough
healthcare facilities for the nation's constantly expanding population. It began as a modest
pharmacy in the village of Ataikula, 160 km from Dhaka. Later, Mr. Samson and his four
associates founded Square Pharmaceuticals as their first pharmaceutical company. Square
Pharmaceuticals was given this title because they thought their products were perfect. Due to
the fact that their medications met international standards, this pharmaceutical company is now
the biggest in our nation.
They currently earn over US $616 million annually, which is only achievable due to their
dedication to the company and hard work. The company employs about 28,000 people. It is
currently the most dependable pharmaceutical corporation in our nation thanks to the use of
modern technologies and quality control of medications.
The company's goods and quality control have undoubtedly contributed to its success, but its
commitment to sustainable business practices has also enabled them to stand out among
competitors. This company's value system is regarded as one of the strongest in both our nation
and the rest of the world. The company is now more trustworthy in the eyes of the clients
because of its transparency in business and well-developed ethical behavior. When it comes to
helping their own country, they have a very strong dedication to producing high-quality
medications.
In general, they carry out these sustainable business practices both internally and externally.
Among their activities, their programs for education, women's employment and empowerment,
environmental preservation and biodiversity preservation, and last but not least, public health
activities, stand out. Their obligations to the community demonstrate the company's
commitment to the community.
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Table of Contents
Letter of Transmittal ............................................................................................................................... 2
Acknowledgement .................................................................................................................................. 3
Executive Summary................................................................................................................................. 4
Introduction ............................................................................................................................................ 6
Problem Statement ................................................................................................................................. 7
Literature Review .................................................................................................................................... 8
Environmental Sustainability in Pharmaceuticals ............................................................................... 9
Social Responsibility and Ethical Considerations ................................................................................ 9
Economic Viability and Innovation ..................................................................................................... 9
Objectives ............................................................................................................................................. 10
Environmental ................................................................................................................................... 10
Social ................................................................................................................................................. 11
SQUARE Kindergarten & SQUARE High School ............................................................................. 11
Methodology......................................................................................................................................... 16
Results & Discussion ............................................................................................................................. 17
Findings ................................................................................................................................................. 20
Conclusion ............................................................................................................................................. 21
Recommendations ................................................................................................................................ 21
Bibliography .......................................................................................................................................... 23
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Introduction
In Bangladesh, SQUARE Group is among the biggest and most established corporations. It has
succeeded in developing a strong brand reputation in the nation while expanding steadily over
the past few years. SPL was founded as a partnership company in 1958. There are currently 14
distinct firms there, all of which run separately. The organization has demonstrated flawless
performance both inside and outside the nation since 1958 up until the present. Since 1985,
SQUARE Pharmaceuticals has dominated the pharmaceutical market.
1958: SQUARE Pharma was founded as a partnership venture by Samson H. Chowdhury and
his 3 friends, Dr. Kazi Harunur Rashid, Dr. PK Shaha, and Radha Binod Roy, with an initial
investment of Rs 17,000 in total.
1964: In order to become a private limited company, SQUARE Pharmaceuticals had authorized
capital of Rs. 500,000 and paid-up capital of Rs. 400,000.
1974 & 1982: Started a technical collaboration and was granted a license to work for Janssen
Pharmaceuticals, a division of Johnson and Johnson International, a United States company. A
licensing agreement was signed with F. Hoffmann-La Roche Ltd. in Switzerland.
2001: SPL has opened a new pharmaceutical factory that complies with US FDA/UK MCA
standards; the facility was created under the direction of Bovis Lend Lease, UK. Additionally,
the business entered into a contract with ROVIPHARM, Vietnam, to produce and market
SQUARE products there under license.
2003: SQUARE Pharmaceuticals attained ISO 9001:2000 Certification. Management
Agreement with Bumungrad Hospital International of Thailand for the management of
SQUARE Hospitals Ltd.
2004: UNICEF has chosen SQUARE Pharmaceuticals Ltd as its primary international supplier.
SQUARE Cephalosporins Ltd. was established in 2005 and designed in accordance with US
FDA/UK MHRA regulations and under the direction of TELSTAR S.A. of Spain. In
Bangladesh, SQUARE Herbal & Nutraceuticals Ltd received a license. The Sabazpur Tea
Company Ltd. was founded.
2006: SQUARE Pharmaceuticals received the ICAB National Award for the Non-Financial
Sector's (Manufacturing Category) best published accounts and reports.
2009: Beginning with the current Good Manufacturing Practice (CGMP) of the WHO,
SQUARE Pharmaceuticals started producing insulin, hormone, and steroid medicines while
upholding the quality standards of the US FDA and UK MHRA.
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2015: The US FDA's PAI (Pre-Approval Inspection) of the solid dosage unit at the Dhaka Site
was successful.
2018: Square Pharma had a turnover of Taka 45.88 billion (US$ 540 million), with a market
share of roughly 16.95% and an annual growth rate of about 8.52%.
2021: Square Pharmaceuticals started its journey in Kenya.
In order to minimize its environmental impact, reduce greenhouse gas emissions, protect
natural resources, and address growing concerns about climate change, the global
pharmaceutical industry's supply chain must implement sustainable solutions.
Square Pharmaceuticals' global supply chain is essential to the healthcare system, it also has a
huge negative influence on the environment. The chain of operations in this sector leaves a
substantial carbon footprint, from raw material extraction to medicine disposal. As worldwide
worries about climate change and environmental degradation have grown in recent years, the
necessity for sustainability in the pharmaceutical sector has become increasingly obvious.
The ability of an industry to meet current requirements without compromising the ability of
future generations to meet their own needs is known as sustainability in the pharmaceutical
sector. Square Pharmaceuticals needs to establish strategies to lessen its environmental impact,
protect natural resources, and advance sustainable development. Some of the steps that Square
Pharmaceuticals are taking to promote sustainability are covered in this report.
Problem Statement
Bangladesh, which was one of the poorest countries when it was founded in 1971, attained a
lower-middle income classification in 2015. In 2026, it is expected to be removed from the
UN's list of least developed nations (LDCs) (The World Bank, 2022). Therefore, the majority
of Bangladeshis do not have access to health care, and the population is still not well educated.
People desire sustainable business practices from business organizations in order to satisfy this
essential demand.
While some researchers think there is a direct link between sustainable business practices and
firm profitability, others think it has little impact on it. Particularly in developed countries that
established social, living, and health care systems like the NHS in the UK, where sustainability
is not primarily implemented. In successful nations, businesses always prioritize product
quality over sustainability while trying to gain market share. South Asians are extremely
sensitive; hence businesses use this as a technique for sustainable business practice so that
consumers will blindly trust the products they sell and get an advantage over rival brands.
Square Pharmaceuticals Limited is reportedly doing a great job with its sustainable business
techniques. They have been functioning in ways that are beneficial to the community both now
and in the future. We compared the profit after tax with the amount provided to the sustainable
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business activities, they could be providing much more. We calculated the expenditure
percentage as a proportion of Square Pharmaceuticals, it equals 0.075, which is extremely poor.
Additionally, they do not make a sufficient contribution to the government. According to the
study analysis, most of their contributions are based in the Pabna area because one of the key
founders, Mr. Samson H. Chowdhury, grew up in that district.
Another weakness in their plan is the poor contribution they provide to the education sector.
They need to deliver more. They constructed a school and gave some college students
scholarships, but considering their financial position, they should view this sector more
favorably.
They did an outstanding job with the activities they took to establish the child development
center. However, guaranteeing that this initiative is affordable for everyone is the main
problem. Their attempts to plan seminars and come up with publications about the newest
medical developments aimed at physicians in active practice receive little attention. Despite
being leaders in the nation's medical industry, they are also accountable for dealing with this.
Despite the fact that they have done everything possible to maintain a sustainable environment
in their manufacturing units and business activities, they have not been seen contributing
outside of their business to improve environmental health in general. When it comes to CSR,
multinational corporations are more driven and have spent far more funds than nationally major
corporations like Square Pharmaceuticals.
Literature Review
The impact of sustainable business practices on the business operations of various
organizations will be briefly examined in this literature review, along with the findings of other
researchers and the overall impact on business profitability.
Sustainable business practices refer to the actions taken by an organization to protect the
environment in order to achieve sustainability. This simply carries on the premise that human
civilizations must exist and satisfy their own wants without risking the ability of future
generations to satisfy their own needs. A sustainable firm, often known as a green business, is
one that makes attempt to fulfill the triple main concern and either has small negative effects
or could potentially have a positive consequence on the local, national, or global climate,
network, society, or economy. They are grouped together into several categories, and the total
group can be referred to as "green private business." History of environmentally friendly
business methods According to the Sustainable Scale Project, throughout the 20th century,
modern businesses and their polluting creation methods particularly for those that consumed
coal to maintain industrial facilities had a negative impact on the climate in general.
Government agencies focused on organizations to "get it together" in the latter half of the 1960s
and the middle of the 1970s, particularly when the harmful effects on human wellbeing caused
by hapless climate-related strategy approaches became clearer. Sustainable strategic methods
may differ amongst organizations, implying that none of the results are the same.
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Some businesses might switch to a paperless billing cycle to offer a supportability guarantee,
while others might incorporate natural thought into their business models for collaborating with
other businesses. Energy reduction, cleaner production processes, and waste reduction are all
considered to be sustainable strategic initiatives. Several of the sustainability measures used by
businesses include:
The pharmaceutical industry is vital to the world's healthcare, but its operations also have a big
impact on the environment, society, and the economy. The pharmaceutical industry is under
increasing pressure to embrace sustainable business practices as concerns about environmental
sustainability, social responsibility, and economic viability develop. This review of the
literature seeks to give a broad overview of the major issues, difficulties, and conclusions of
the research on sustainable business practices in the pharmaceutical sector.
With the communities where it operates and serves, SQUARE builds long-term relationships.
It contributes to society as a whole and to those who are less fortunate. As a responsible
corporate citizen, SQUARE does business with honesty, decency, and a complete absence of
bias.
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SQUARE helps communities by integrating them in the process, giving them resources, and
assisting them in developing. It also provides employment and possibilities. In all of its
interactions with people and the environment, SQUARE a signatory member of the United
Nations Global Compact (UNGC) adheres to the same ideals and seeks to do good by doing
well.
For Square Pharmaceuticals to address its environmental impact, social responsibilities, and
financial sustainability, sustainable business practices are crucial. Despite ongoing difficulties,
Square Pharmaceuticals is rapidly realizing how crucial it is to integrate its operations with
more general sustainability objectives. The addition of sustainable practices will probably
encourage innovation, enhance reputation, and contribute to a more adequate global healthcare
system as the business continues to develop.
Objectives
The mission of Square Pharmaceuticals is to produce and provide quality & innovative
healthcare relief for people, maintain stringent ethical standards in business operation also
ensuring benefit to the shareholders, stakeholders and the society at large. Their objectives are
to conduct transparent business operations based on market mechanism within the legal &
social framework with aims to attain the mission reflected by their vision.
Environmental
The pharmaceutical sector may reduce its environmental effect while yet continuing to offer
vital healthcare solutions to society through the implementation of these concepts and practices.
Governments, healthcare providers, pharmaceutical corporations, and consumers must all work
together to create a more sustainable and healthy future.
The "Asia Responsible Entrepreneurship Awards 2014-South Asia" in the category of "Social
Empowerment Award" were won by Square Herbal & Nutraceuticals Ltd. (SHNL). Enterprise
Asia created the Asia Responsible Entrepreneurship Awards as a regional recognition program
to honor businesses for their remarkable, innovative, and top-notch products, services, projects,
and initiatives. The Enterprise's leadership, sincerity, and ongoing dedication to integrating
ethical and moral principles, legal compliance, health considerations, respect for people and
individuals, community involvement, and environmental preservation into the way they
manage their business are reflected in these initiatives. After competing against all Asian
countries to determine the environmental impact of company operations and attempting to
decrease and reverse the damage through Green Product Designs, particularly for "Basak
farming," SHNL received the Social Empowerment Award. By cultivating the Basak plant on
homestead or underutilized land, SHNL aimed to "increase family solvency and self-
employment of impoverished marginal farmers (particularly women)." The ecology is
impacted by the planting of medicinal plants, and social values and integrity are raised.
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Social
A comprehensive approach that incorporates moral, social, and environmental factors into
business plans and practices is necessary for social sustainability in the pharmaceutical
industry. It entails acknowledging the industry's contribution to the advancement of general
health, wellbeing, and equal access to vital healthcare services. The social activities that Square
do are:
The Dhaka Medical College students who place first receive a Gold Medal from SQUARE as
an acknowledgment of accomplishment.
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Festival 2014": The SQUARE-Dhaka Residential Model College's 7th National Science
Festival was held in 2014, and Square Pharmaceuticals PLC. participated as the event's title
sponsor. The 2014 Science Festival took place from February 6 until February 8, 2014. To
further their scientific knowledge, students from various schools and universities presented the
findings of their science projects in this science festival in the form of a report, display board,
and models.
In collaboration with the ICDDR,B and the Obstetrical & Gynecological Society of Bangladesh
(OGSB), Square Pharmaceuticals are conducting research to find ways to avoid "Post Partum
Hemorrhage (PPH)," the main cause of maternal death in Bangladesh.
Women Empowerment
Square Pharmaceuticals is doing a lot to develop the women empowerment. Such as:
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I. Housing and transportation options for female employees to support and motivate them
in their work.
II. Program to raise money for the Acid Survivors Foundation. Square runs an awareness
campaign and supports these acid survivors with this money.
III. Increasing awareness of cervical cancer among the nation.
IV. SQUARE is collaborating with CARE on the "JITA" initiative. Through this project,
Square makes sure that rural women are empowered because they can make money by buying
their products at trade prices and selling them to rural households at maximum retail prices
(MRP). Additionally, Square makes sure that the rural area has basic health & hygiene by
teaching the saleswomen the importance of using sanitary napkins and health soaps and
providing these products at their doorsteps.
V. In Pabna, SQUARE is running a petrol station called "Eakub Filling Station" that is
managed by women.
VI. 1.5 million girls received education from Square Toiletries Ltd. on adolescent health
and hygiene.
VII. Ensuring the future health of 3.3 million children.
VIII. Ensuring the future well-being of 1.6 million girls.
IX. Awarding women who work hard and benefit the country through the ‘Radhuni
Kirtimoti Shommanona 2015’.
X. For being able to have their own source of income, 3500 JITA women are empowered.
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For moms and babies, Supermom is a free telephone service (0961 2222 333) and a fully
functional, interactive Bengali website (www.supermombd.com). We think that every mother
is a Supermom. Saluting these Supermoms, we run this service to assist mothers in being the
best mothers by making their lives a bit easier. This admirable project by Meril baby from
Square Toiletries Ltd. is there to keep a mother and the infant secure, healthy, and safe and was
created in collaboration with experts and professionals. Pregnancy planning, prenatal care, and
information on how babies grow are all included in the service and are all completely free.
Baby Olympiad 2015
For children aged 6 months to 5 years, SQUARE Toiletries Ltd. organized the "Baby
Olympiad" competition. The goal of this project is to encourage kids of this generation to play
physically rather than using technology.
Informing physician community on latest development in medical science
Square engages in a number of initiatives including clinical meetings, seminars, and healthcare
publications like the Continual Medical Education (CME) program.
Training Institution of IT
To provide training for the Pabna community's struggling people who cannot afford expensive
training courses. The main goal of this training facility called "Dishari" is to equip students
with the modern technology and computer literacy necessary to develop their own futures and
the nations in which they live.
Symposium on Autism organized to commemorate World Autism Awareness Day on 9th April (Sunday)
at SQUARE Hospital
On April 9 (Sunday), SQUARE Pharmaceuticals PLC. hosted a seminar on autism in honor of
World Autism Awareness Day in the SQUARE Hospital auditorium. Renowned doctors from
prestigious institutions like BSMMU, NINS, Dhaka Shishu Hospital, DMCH, NIMH, and
SQUARE Hospital attended the seminar. They included pediatric neurologists, neurologists for
children, psychiatrists, and pediatricians. Along with doctors, the program included
occupational and speech therapists who are essential in providing treatment for children with
autism. Mr. Tapan Chowdhury, the program's honorable managing director, spoke at the event
and emphasized the value of hosting such events while assuring the audience of SQUARE's
support for raising awareness of autism.
Grameenphone Health Fair 2017
To promote its services and facilities, Square Hospital attended the Grameenphone Health Fair
2017 at GP House on May 9, 2017. All GP, Telenor, and Accenture employees responded
overwhelmingly to their booths during the fair, and more than 350 people took advantage of
the free blood sugar testing and vital sign checks they offered. Counseling for psychology and
executive health exams, hospital registration, and promotion of all of their services through
brochures, banners, and videos. They have set up a unique area where people may sample their
Premium "Orvana" Organic Tea while also learning about it.
SQUARE Child Development Center- a journey started
On November 1, 2017, SQUARE Child Development Center set out on its mission to help kids
with neurodevelopmental disorders. The opening ceremony for Square CDC (Child
Development Center) was conducted in the presence of doctors, staff members, and other
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SQUARE Hospital coworkers. The hospital's child development center will use primary
screening, observation, therapy, and other treatments to properly treat kids who have autism,
epilepsy, speech issues, etc. The children will initially be under the care of a pediatric
consultant, and over time, CDC doctors, development therapists, child psychologists, speech
& visual therapists, and child counselors will take over the children's care. If necessary, they
will also speak with the children's parents.
• Here are some more aspects of social sustainability that Square organized:
I. Program to raise awareness of the rights of people with physical disabilities.
II. Medical campaign program for poor people.
III. Reconstruction of Annada Gobinda Public Library in Pabna.
IV. Road safety campaign & road side shade.
V. Donation to hospitals, medical colleges, local community & underprivileged people.
Economical
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Highest TAX payer of the country award: Square consistently has the reputation and
distinction of being the top tax-paying organization. The government has recognized
the honorable Chairman of the Square Group as the top tax payer in the nation.
Special Government medicine supply: Square provides specialized government
medication in accordance with the Bangladeshi government's needs. Additionally, it
constantly stands by the government during diseases and natural calamities with its
extended helping hands.
Methodology
Our research methodology is exclusively reliant on secondary sources to provide a
comprehensive understanding of the subject. Secondary sources, including scholarly articles,
books, reports, and reputable online databases, form the basis of our investigation. Through
meticulous literature review and data extraction, we identify key concepts, trends, and
arguments. By critically analyzing these sources, we synthesize existing knowledge to ensure
a well-informed analysis. While we acknowledge potential bias in secondary materials, our
rigorous source selection mitigates such limitations. This approach enables us to explore the
subject thoroughly, compare diverse perspectives, and establish a strong foundation for our
research. Through the exclusive use of secondary sources, our methodology aims to contribute
to a nuanced and informed exploration of the topic.
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The data tables above are screenshots from SQUARE's financial report, where the sustainable
business activity cost is noted under the headings of Subscription and Donation to compare
between 2016–17 and 2017–18, respectively. In the first data table, it can be noted that the cost
of subscription and donations in 2016–17 was BDT 55,16,276 as opposed to BDT 67,61,716
in 2015–16. This indicates that Square Pharmaceuticals spent more on sustainable business
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activity in 2015–16 than it did in 2016–17. The second data table shows that Square
Pharmaceuticals spent BDT 61,76,352, which is larger than the spending from the previous
year.
The donation expense and profit after taxes for Square Pharmaceuticals for the years 2015– 16,
2016–17, and 2017–18 is displayed in the above table. For the fiscal years 2015–16, 2016–17,
and 2017–18, Square Pharmaceuticals' profit after tax was roughly 920, 779, and 821 crores,
respectively. While the profit in the years 2015–16, 2016–17, and 2017–18 was around 67, 55,
and 62 lacs, respectively, the donation expense is incredibly low.
According to the report Square Pharmaceuticals Limited is doing some really good job with
their sustainable business practices. They have been taking initiatives which are benefitting the
community in the shorter and longer run. Even then there are a lot more they can contribute if
we compare the profit after tax and the amount contributed to sustainable business activities.
In general rules of CSR a company should spend 2% of their average profit after tax or net
income of 3 years to the CSR activities. If we calculate that of the SPL the spending percentage
comes to .075 which is exceedingly destitute. Their contribution towards the government is not
up to the mark as well. Also, according to the report analysis, it can be seen that most of their
CSR activities are based in the Pabna district because one of the prime founders of Square
Pharmaceuticals, Mr. Samson H. Chowdhury grew up in that district. Another drawback to
their sustainable business activity is that the amount of contribution they are making in the
education sector is not enough. It is expected more of them. They established one school and
giving some scholarships to the university students but looking at their income they should be
more constructive about this sector. The initiatives that they took with the child development
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center are an outstanding project, but the major concern would be how affordable it would be
to everyone. Their seminars and publications on the latest medical advancements for the
physicians active in the field have a very timid exposure. They are one of the pioneers of the
medical field of the country and this is also their responsibility. Even though they have been
doing everything according to the environmental guideline to maintain an ecological balance
in terms of their manufacturing units and business activities but they are not seen contributing
outside their business to improve the environment health in general. In regard to corporate
social responsibility Multinational Companies are more motivated and recorded more spending
compared to the Local giant company, Square Pharmaceuticals.
Findings
These are the findings that we attained from this report on sustainable business practices of
Square Pharmaceuticals:
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Conclusion
Square Group has been one of the largest and leading companies in our country for more than
four decades by manufacturing quality products. It diversified into different areas and sectors
of the local business field. The other Square concerns are as pharmaceuticals, toiletries,
garments, textiles, information technology, health products, food products, hospitals etc. The
company is always concerned with the quality of the product for their customer and also
increases the profit for its shareholders and stockholders and also the employees.
In order to produce the best quality of any product the employees of the company must be
skillful, knowledgeable, and fill of being as they are the members of one and same family for
their better improvement. However, Square group is not concerned only on the quality of the
product and the reputation of the company, but they are also concerned about the satisfaction
level of their employees for better improvement, higher productivity as well as to produce
quality product by providing different types of benefits and facilities.
The public perception of their company is excellent because of their support of saving the
environment, women's empowerment, and education etc. Additionally, the report gives a clear
picture of how these social duties have been carried out and what kinds of initiatives have been
made to enable them. The community's overall well-being might be considered as the ultimate
goal of their sustainable business operations. The community has benefited from their other
programs, such Dishari and SquareAgro, in developing its agricultural and technology research
to build an engaging and reliable future.
As they climbed through the corporate ladders, they continually worked to improve their
community and lived up to their motto, "Being good by doing well," which is how they earned
the title of top pharmaceutical industry in Bangladesh.
Recommendations
Square Pharmaceuticals Limited is a prestigious and well reputed pharmaceuticals company in
the business industry of Bangladesh and in many other foreign countries as well. As they are
exporting medicine to many countries in Europe & North America. They are aware of the fact
that in these regions it is imperative to practice sustainability for the companies. This is one
reason why Square Pharmaceuticals is motivated to perform sustainable business activities.
Square Pharmaceuticals should increase their donation expense from .075% of profit to
2% of profit as per the general rules of CSR. This is how more funds will be allocated
to do many developments in the community.
They can use those funds to help the government build a better community.
They should also invest heavily in training better physicians. In respect to that they
should start a nursing training institution where nurses could be trained at an
international level or at least close to that. This is how the government will be able to
give jobs to those trained nurses outside the country.
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SQUARE should increase their funds in regard to the scholarships given to brilliant
students of medical science and other concentrations if it is possible. The projects that
they have done in Pabna, like building schools, libraries, IT institutions etc. they need
to do more of these outside Pabna as well.
They also need to do more the environment safety issues in general for the country.
They need to improve on a better structure of corporate social responsibility in the
company by having a strong panel of Corporate Social Responsibility Committee.
Square Pharmaceuticals needs to realize the fact that only to attract foreign customers to
buy or license their product should not be the only reason to practice sustainability in the
community. Sustainable business activities need to be performed regardless of the hidden
benefits that they gain from it while making profit for the company.
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