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Methodology:
It is a project of managerial process and prime focus is on managerial functions and skills. In
order to accomplish the objectives, we have been visited the organization and then data have
been collected from Bank Asia Limited with the association of a manager of Bashundhara
Branch.
Sources of data:
The sources of preparing this report are consolidations of major and important information.
Both primary and secondary sources of data are used to complete the study. They are-
1.Primary data:
2. Secondary data:
was not enough to complete this project and these data were available to us after overcoming
a hurdle of bureaucracy. Therefore this total project is based on primary and secondary data at
the same time along with implying our theoretical knowledge compatible with Bank Asias
managerial process.
Specific objectives:
1. To identity the functions, skills and responsibilities of a manager.
2. To identify the organogram of the organization.
3. Difference between theoretical and practical concept followed within the company.
4. To get the overall real picture of the corporate organization.
Introduction
Todays business world is getting complicated increasingly. Thats why, managers roles are
becoming very crucial for an organization. Managers analyze pros & cons of the organization
properly & formulate managerial skills to make sure the growth of the organization. It is no
longer bizarre that managerial skill is important to the success of an organization in regards to
meeting the organization's goals and mission because it provides a firm foundation for
planning important business ideas. It is believed that management Function is an essential
factor to the success of an organization because they can plan every aspect of business
production to determine the most efficient methods. Managerial Function is very much part
of what managers do.
In this report, we have discussed the importance of strategic management. Also, we have
explained the management process of Bank Asia. In addition, we have described three types
of corporate strategies & competitive advantage of those strategies.
Strategic Management is important for helping managers cope with continually changing
situations. It helps co-ordinate and focus employee efforts on whats important. Here, we
have mentioned strategic management approaches of Bank Asia. We have described how
Bank Asia copes up with ever changing business world. We have showed that how Bank Asia
does whatever its in business to do, how it competes successfully, how it attracts and
satisfies its customers in order to achieve its goals.
Comapays Description
Bank Asia Limited is a schedule Bank under private sector established with in the ambit of
Bank Company Act, 1991 and was incorporated as a Public Limited Company Under
Company Act, 1994 on September 28, 1999. The Bank started commercial banking
operations from November 27, 1999 with the inauguration of the Banks Corporate Office at
the Rangs Bhaban. A huge public response has enabled the Bank to keep up the plan of
expanding its network. The opening of the principal office was the big leap forward and
successively the opening of Gulshan and Chittagong branch expanded the horizon of Bank
Asia to bring its services to valued clients more effectively. Within a short period, the bank
has opened four more branches in Dhaka and two branches in Sylhet and Kishorgonj. In
February 2001, Bank Asia took over the Bangladesh operation of The Bank of Nova Scotia,
the first acquisition of a foreign bank by a local bank in the banking history of Bangladesh.
Later, Bank Asia took over the Bangladesh operation of Muslim Commercial Bank of
Pakistan in December 2001. These courageous moves were possible for some visionary
decision makers and also dedicated team of professionals who are constantly putting their
best efforts to establish the bank as one of the leading concerns in the industry.
Bank Asia has so far been highly successful in keeping its customers satisfied with its high
quality service, while continuing its expansion to reach more people around the country.
Bank Asia conducts all types of commercial banking activities. The Bank is involved in most
of the areas of commercial banking operations. The core business of the Bank comprises of
trade finance, term finance, working capital finance and corporate finance. Bank Asia has
acted as the lead arranger in raising term loan for a number of projects under syndicated
finance and also participated in some cases under such financing arrangement. The Bank is
also providing personal credit, service related to local and foreign remittances and several
other products. The Personal Credit scheme of the Bank, which is designed to help the
fixed income group in raising standard of living is competitively priced and has been widely
appreciated by the customers. Bank Asias program under Poverty Alleviation Scheme
delivered through rural branches in the form of micro credit is playing an important role
towards socio economic development of the poor people in the rural areas.
The management of Bank Asia is determined to maintain and upgrade the quality of these
resources through continuous training and upgrading technology to keep pace with market
demands, new developments and practices of the competitors. Bank Asia entered the market
at a time when economic policy environment of the country is poised for higher level of
business activities and growth. The prevailing macroeconomic management and the
governments determination to carry on reforms in the banking sector provide a supporting
and encouraging environment.
Vision
Bank Asia's vision is to have a poverty free Bangladesh in course of a generation in the new
Place customer interest and satisfaction as
millennium, reflecting the national dream. Our vision is to build a society where human
dignity and human rights receive the highest consideration along with reduction of poverty.
CORE VALUES
Corporate Objectives
Bank Asias objectives are reflected in the following areas:
* Highly personalized service.
* Customer-driven focus.
* Total commitment to quality.
* Contribution in the economy.
* Quality of human resources.
* Commitment to its clients at each level.
The company believes that communication with, and feedbacks from its clients help it
achieve its goal of providing world-class product and services. Bank Asia regularly conducts
client satisfaction surveys and make immediate accommodations and adjustments where
needed. It also constantly monitors its standards, and strives to meet clients requirements.
Monthly Benefit Scheme (MB+): MB+ is a five (05) years scheme that lets
Depositors earn monthly benefit of Tk. 1000 or its multiple by minimum initial
deposit of Tk. 100,000 or its multiple and after maturity depositors will get refund of
his/her principal amount.
Special Savings Scheme (DB+): DB+ is a 7 (seven) or 10 (ten) years scheme. The
Deposit doubles in 7 years and triples in 10 years.
Bonus Savings Scheme: A savings Account with a minimum balance of Tk. 50,000
will attract not only the usual savings interest but also a further 10% bonus on interest.
Rural Development Scheme: Rural Development Scheme has been evolved for the
rural people of the country to make them self-employed through financing various
income generating activities. This scheme is operated through the rural branches of
the Bank.
E-Cash Banking Facility: The E-cash card is an ATM card. It can be used as a
combination of debit facility. The E-cash card network offers all banking requirements
without ever setting foot in a bank. Its more than just an ATM service for quick cash
withdraws or account enquiries. E-cash card provides round the clock banking.
Credit Card Facilities: Bank Asia introduced credit card which name is Master card.
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Acceptance: Bank Asia credit card is accepted more than 4,800 merchant outlets around the
country. Our wide range of merchants include hotels, restaurants, airlines& travel agents,
shopping malls and departmental stores, hospital & diagnostic centers, Jewellery shops,
electronics & computer shops, leather goods, mobiles & internet service providers, patrol
pumps and many more.
Customers
Bank Asia also gives preferences to local customer through its marketing efforts.Bank Asia
started operation in Bangladesh in 1999. By following prudent corporate marketing and risk
management policy, Bank Asia recognized as one of the leading bank in the country. Bank
Asia group has well-established corporate lending and credit risk management process which
involves analyzing customers need prudently and carefully, analyzing local culture and
economy, periodic analysis of industry, offering products in line with customers needs and
maintaining good asset portfolio.
KYC, Know Your Customer, is a very important term that is gaining importance day by
day. In lien with this principle, Bank Asia carries out a details analysis before entering onto a
relationship. Understanding business type is therefore very important as it assist the bank to
structure credit facilities in line with customers need. For example, Loan tenor and type for a
manufacturing concern should be different from that of the retailers.
Employees
The Bank provide incentive bonus to its employees on the basis of profit earned during the
year. This year the Bank provides several times basic salary as the incentive bonus to its
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employees and two festival bonuses which motivates employees to perform effectively and
efficiently.
The employees of the Bank are young, energetic, cooperative and friendly. Their dealings
with the client are cooperative and friendly which creates attractive perception about the
client and interest to do business with the Bank.
Management
Process
Management is a complex and dynamic mixture of systematic techniques and common sense.
As with any complex process, the key to learning about management lies in dividing it into
readily understood pieces. There are two different ways in which we can analyze the
management process of any organization. One approach, dating back to early twentieth
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13
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The Board of Directors of Bank Asia Limited consists of 13 Directors including one
Chairman, one First Vice Chairman and one Second Vice Chairman. The list of Directors is
given below:
Managerial Functions
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After finishing our interview with the managers of Bank Asia LTD. BANGLADESH, we
found that all the 8 managerial functions are carried out properly. The further proceedings and
analysis are entirely made on the base of their information.
1. Planning: According to the managers planning is the most important managerial function.
Because a severe wrong planning is enough to ruin the entire working system. The HR
department mainly engages in making plans for the followingsa. Measuring compensation and rewards of employees as payoffs as well as punishments.
b. Ensuring comfortable and uniform working condition
c. Fitting the right people for right jobs
d. Developing faster and efficient working methods for himself and employees
e. Recruitment, staffing and development training
Besides, documenting backup plans in an employees leave of absence, identifying pressures
and opportunities by considering internal and external factors like business expansion or
increase in number of departments, changes in technology and workforce changes are also
assessed.
2. Decision making: Human Resource management is all about decision making. After a
plan is made on a certain aspect, a clear decision should be taken from the alternative courses
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of action. So decisions are made after analyzing all the alternatives and considering
opportunity costs and long and short term effects on the company.
a.
b.
c.
Arranging interviews
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d.
e.
Finally suitable candidates are hired and provided with training facilities if needed.
6. Motivating: Bank Asia HR division has maintained some pragmatic ways to motivate all
level employees:
I.
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II.
Employee counseling
III.
7. Leading: Bank Asias HRM Department believes mostly on Democratic leadership style
where no discrimination is made on individual employee. Not everyone can become a leader.
A leader steps up to a problem and tries to solve it himself and makes sure others do not
suffer for a wrong decision he made. Thats why Bank Asia instructs its managers to follow:
Empathy
Self-awareness
8. Controlling: Bank Asia follows systematic methods (show cause, personal hearing,
suspension, enquiry, and punishment) while taking disciplinary actions against accused one to
control the group/team as per law. Besides, over expansion or squeeze of the company did
have certain damage on the company but these were handled by hiring more experienced
managers and further departmentalization with management teams for each department.
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In Bank Asia all the 8 managerial functions are carried out in detail. This does not make the
management system perfect but very close to flawlessness.
Managerial Skill
Wilsons managerial skill which are used while managing employees
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time the manager provides formal and informal feedback to employees. Few of
HRMs mentoring targets
a. Individual training needs analysis
b. Specially designed personal development plans aimed to develop specific
c.
d.
expertise
Training options to suit their learning style
On-hand support from other HR experts
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10. Exerting Pressure: Before forming a team, members are made understood the
importance and urgency of teamwork. After then if any member fails to work
accordingly without rectifying his faults then punishments are imposed. The
measurement of punishment is proportionate to the severity of the offence.The
punishments could be:
a. Written warning
b. Suspension without pay for a period not exceeding 7 working days
c. Turnover without notice
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Management Process Analysis
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Strength
* Superior Quality: Bank Asia provides its customers excellent quality of service. It gives
the first priority to customer satisfaction.
* Dynamism: Bank Asia draws its strength from the adaptability and dynamism it possesses.
It has quickly adapted to world class standard in terms of banking services. Bank Asia has
also adapted state of the art technology to connect with the world for better communication to
integrate facilities.
* Financial Strength: Bank Asia is a finally sound company backed by the enormous
resource base of the mother concern Rangs Group. As result customers feel comfortable in
dealing with the company.
* Efficient Management: All the levels of the management of Bank Asia are solely directed
to maintain a culture of the betterment of the quality of the service and development of a
corporate brand image in the market through organization wide term approach and open
communication system.
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* State of the Art Technology: Bank Asia utilizes state-of-the-art technology to ensure
consistent quality and operation. The corporate office is equipped with SWIFT (SWIFT is a
banking software, used by Bank Asia). All other branches are also equipped with SWIFT
system.
* Experts: The key contributing factor behind the success of the Bank Asia is its employee,
who are highly trained and most competent in their own field. Bank Asia provides their
employees training both in-house and out side job.
* In-House Utility: Bank Asia is free from dependence on ever disruptive power supply of
our public sources. The company generates the required power through generator fed on
diesel. Water generation is done by deep tube wells on site and in abundance.
* Excellent Working Environment: Bank Asia provides its workforce an excellent place to
work in. Total complex has been centrally air conditioned. The interior decoration was done
exquisitely with choice of soothing colors and blend of artistic that is comparable to any
overseas bank.
Weaknesses
* Limited Workforce: Bank Asia has limited human resources compared to its financial
activities. There are not many people to perform most of the tasks. As a result many of the
employees are burdened with extra workloads and work late hours with out any overtime
facilities. This might cause high employee turnover that will prove to be too costly to avoid.
* Problem in Delivery: Few of the Bank Asias products offered to its clients like Personal
Credit (PC) is lying idle due to proper marketing initiative from the management. These
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products can easily be made available in attractive ways to increases its client base as well as
its deposit status.
Opportunities
* Government Support: Government of Bangladesh has rendered its full support to the
banking sector for a sound financial status of the country, as it has become one of the vital
sources of employment in the country now. Such government concern will facilitate and
support the long-term vision of Bank Asia.
* Evaluation of E-Banking: Emergence of e-banking will open more scope for Bank Asia
to reach the clients not only in Bangladesh but also in the global banking arena. Although the
bank has already entered the world of e-banking but yet to provide full electronic banking
facilities to its customer. A proper blend of Banking and information technology might give
the bank leverage to its competitors. Nevertheless there are ample opportunities for Bank
Asia to go for product innovation in line with the modern day need. The bank has yet to
develop credit card facility, lease financing and merchant banking.
Threats
* Merger and Acquisition: The worldwide trend of merging and acquisition in financial
institution is causing concentration. The industry and competitors are increasing in power
their respective areas.
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fluctuations and particularly South-East Asian currency crisis adversely affects the business
globally.
* Emergence of Competitors: Due to high customer demand, more and more financial
institutions are being introduced in the country. There are already 52 banks of various types
are operating in the country. Many banks are entering the market with new and lucrative
products. The market for banking industry is now a buyer dominated market. Unless Bank
Asia can come up with attractive financial products in the market, it will have to face steep
competition in the days to come.
Strengths:
1. The managers are technically expert. It means they can fully utilize their relevant
knowledge and experience. Sequentially it helps them to clarify their expectations
with appropriate languages to the subordinates.
2.Managers are cordial and constructive in case of solving problems.
3. Nurturing imagination and creativity is one of the mostly used skills in Bank
Asias
management. Therefore the employees are not stressed with doing the
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5.Directing, coaching and solving problems as a team is another widely used skill.
Through these Bank Asia ensures proper control and feedback for employees and
reaching to the goal.
6.Getting informed about delegated groups progress in weekly and monthly basis
through Control of Details helps managers to avoid messing up the planning.
7. Taking employees problems into consideration and providing flexible time so that
work does not interfere with personal life is a good way to maintain coordination
and cooperation. Motivation and punishment are two inseparable variables for
coordination and cooperation. Hence, employees manage to keep a good morale.
8. An energetic manager is an asset to any organization in two ways. First, s/he can
do extra duty beyond his/her fixed target if properly motivated. Second, he is an
inspiration for subordinates. Hence, the employees are motivated to do something
more.
Weakness:
1. As the HR manager handles way too many things to prepare himself listening for
insights at the same time he skips out watching activities within the team.
2. If an employee is pressurized by the fear of losing job if goals are not achieved,
then it may motivate him to a negligible extent rather it may terrify him, which in
turn will not bring any good for the company.
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Bank Asia has three major CSR programs. These are as follows:
and
local
elite
attended
the
function.
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It may be mentioned that Bank Asia gives scholarships for higher study to the meritorious
students in the rural areas, where the Bank has branches. A total of 134 (one hundred thirty
four) students have been selected for Bank Asia Higher Study Scholarship for the current
year.
OPHTHALMOLOGICAL OPERATION
The Bank bears entire cost of cataract-related eye operations, whose parents are poor and
cannot afford the high cost of operations. Since 2006, 874 operations have been conducted
under the program at a cost of about Tk 92 lac (till July, 2010). Most of the children are
leading normal life and learning education.
COMPUTER LEARNING CENTERS
Bank Asia, with the help of D-net, is operating 13 Computer Learning Centers (since 2006) in
rural areas, where rural youths learn computer education. A total of Tk 4.7 lac has been spent
for operational cost of these centers this year. Besides, 12 more learning centers have been set
up this year involving Tk.1.58 million/Tk.15.76 lac as a part of our expansion program. So
far, about 3000 youths received computer training though these centers, and cost involvement
in this CSR program is Tk.1.03 crore (till Dec. 2009).
Others
BLOOD DONATION
CONSERVATION OF ENVIRONMENT
DISASTER MANAGEMENT
SPORTS
POVERTY ERADICATION PROGRAM
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Recommendation
By analyzing the overall management process of Bank Asia, some suggestions has been figured
out which will help this management structure to be more improved. These are:
Bank Asia has an Ethnocentric Attitude in working place because all of the major decisions
are made by the top management from abroad. So, they should start practicing a Geocentric
Attitude and choose the best decisions by developing more empowerment.
The overall process of any action or step taken by Bank Asia takes a lot of time to be
fulfilled since these actions, at first, have to be confirmed by board of directors overseas.
So, a simplistic and defined procedure should be enacted that saves time.
The branch managers of Bank Asia are not given enough power to take decisions as their
own. This wastes a lot of time, money and hinders management process. More
empowerment to branch managers is a must to overcome this problem.
Proper information on the branch locations and customer inquiry/complaint sectionare not
updated in the official website of Bank Asia. These IT drawbacks should be improved.
Until recently, Standard Chartered was one of those international banks that are not allowed
to have more than 5 branches. However, in order to increase its coverage, Standard Chartered
made the smart move to merge with Grindlays. This allowed Standard Chartered to increase
its number of branches to 26. A lucrative opportunity for Bank Asia would be to also consider
such mergers in order to increase its customer base. An increase in the number of branches
would allow Bank Asia to catch up to its competitors and also increase its diversity in terms
of services provided. Though Bank Asia has no immediate plans to merge with any other
banks, the option is on the table for them to take when they will.
Referencing
0
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1.
A.
B.
Cassidy, C.M. and Kreitner, R.(2011) Priciples of Management.12 th ed. SouthWestern, Cengage Learning
C.
D.
E.
2.
Websites
A.
B.
C.
D.
E.
F.
3.
Visiting Cards
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