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REPORT

PERFORMANCE MANAGEMENT
Course Code: HRM 4368
Section: B

Submitted To:
Farhana Rashid
Assistant Professor
School of Business
United International University

Submitted By:
Md. Shakhawatul Islam
Id No. 111 093 033

Date of Submission:
January 25, 2014

Table of Contents
1.

Introduction: ................................................................................................................ 1

2.

Objective of the Report ................................................................................................ 1

3.

Methodology of Data Collection .................................................................................. 2

3.1

Sample Size and Population: ................................................................................. 2

3.2

Sampling Method .................................................................................................. 2

3.3

Primary Sources:.................................................................................................... 2

3.4

Secondary Sources: ................................................................................................ 2

3.5

Data Analysis: ........................................................................................................ 3

3.6

Data Presentation: ................................................................................................. 3

4.

Limitations of the Report............................................................................................. 3

5.

Historical Background: ................................................................................................ 4

6.

Milestones of Square Pharmaceuticals Ltd. ................................................................ 4

7.

About the Organization: .............................................................................................. 5

7.1

Vision ..................................................................................................................... 5

7.2

Mission ................................................................................................................... 5

7.3

Objective ................................................................................................................ 5

7.4

Corporate Focus ..................................................................................................... 5

7.5

Goal ........................................................................................................................ 5

7.6

Slogan..................................................................................................................... 6

7.6.1

Business Slogan............................................................................................... 6

7.6.2

Corporate Slogan ............................................................................................ 6

7.7

Square Quality Policy............................................................................................. 6

7.8

Strive of SPL........................................................................................................... 7

8.

Profile of Square Pharmaceuticals Ltd. ....................................................................... 7

9.

Activities of Key Functional Departments in SPL ....................................................... 8

10.

Organogram of Square Pharmaceuticals Ltd ........................................................... 8

10.1 Management Committee ....................................................................................... 9

10.2

The Breakdown of HR ........................................................................................ 9

10.3

The Supervision Ratio ........................................................................................ 9

11.

Human Resource Department in SPL ...................................................................... 9

12.

Performance Appraisal ............................................................................................ 11

13.

Types of Performance Appraisal Methods: ............................................................. 11

14.

Performance Appraisal Process in Square Pharma Ltd ......................................... 13

14.1 Reward and Compensation System ..................................................................... 14

14.2

Pay Structure .................................................................................................... 14

15.

Survey Questionnaire ......................................... Error! Bookmark not defined.

16.

Recommendation: ................................................................................................... 14

17.

Conclusion: .............................................................................................................. 16

18.

References: ...............................................................................................................17

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1. Introduction:
Square today is more than just an organization, it is an institute. In a career
spanning across four and half decades it has pioneered the development of the local
business in fields as diverse as Pharmaceuticals, Toiletries, Garments, Textile,
Information Technology, Health Products, Food Products, Hospital, etc. With an
average Annual turnover of over US$ 200 million and a workforce of about 3500 the
Square Group is a true icon of the Bangladesh business sector. Square Pharmaceuticals
Ltd. (SPL), the pharmaceutical giant in the country, is a trusted name in the industry of
manufacturing quality medicines for more than four decade. Square is now an active
corporate giant in the fields of business and industry. Beximco Pharmaceuticals, Incepta
Pharmaceuticals,

Drug

International

are

the

direct

competitor

of

Square

Pharmaceuticals Ltd. The pharmaceutical sector is a high-technology and knowledgeintensive industry. The industry has a two-tier structure. The largest firms account for
the majority of the R&D investment in the industry and hold the majority of patents.
There are a large number of smaller firms producing mostly for local markets. The
pharmaceutical industry is heavily regulated.

2. Objective of the Report

The prime objective of the report will be to evaluate the executive. Some of the
important objectives are:

To identify directors and management position hierarchy.

To identify the responsibility of every department of the company.

To determine if they are satisfied with their work in relation to the

characteristics of work.

To identify if they are satisfied with their salaries and benefits work?

To determine the level of employee satisfaction with their work in relation to the
working environment.

To identify if they are satisfied with their work in communication.

To identify the level of employee satisfaction regarding the promotion and

growth of the organization.

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3. Methodology of Data Collection

Both primary and secondary sources of information have been considered as a data
collection process. Primary data was collected through checklist and personnel
interview.
The secondary information of the study was collected from the web sites, published
literature, research papers and, various reports (internal and external) of the sample
firms. Qualitative technique was used to analyze the collected data.

3.1 Sample Size and Population:

Populations of this research are of two types:
I.

Management of pharmaceutical companies: It includes the view of the

personnel who are involved in the performance appraisal and employee
motivation in HR department;

II.

Employees of pharmaceutical companies: The general employees of some

different pharmaceutical companies include those who had undergone some
performance appraisal. It includes mainly the sales officers.

3.2 Sampling Method

There are two types of populations size, based on which different samples were
drawn. For management no sampling is needed, because there are very few HR
personnel. For employees, random sampling was chosen.

3.3 Primary Sources:

Observation: Observing the actual practice of Human Resources of the company.
Survey: Interviewing officials and executives involved in this organization. Face
to face Conversation with respective officers of the organization.

3.4 Secondary Sources:

Official records of Square Pharmaceuticals Ltd.

Relevant file study as provided by the officers concerned

Annual report

Working Papers

Office Files

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Selected Books

Printed Forms

Published & Unpublished Document.

3.5 Data Analysis:

All the data is collected through secondary sources. Data has been analyzed on
the first hand collection. So in this report we do not need to analyze data.

3.6 Data Presentation:

We have presented the data through pie chart, which shows the corresponding
years and the required information and also the percentages.
Report Writing Technique
As this report is prepared on the basis of data collected from two sources and no
qualitative measurement is used. It is a descriptive report and includes different
segment of HR activities.

4. Limitations of the Report

The methodological limitations include difficulty in getting people who are aware of
human resource practice properly. Respondents were unwilling to cooperate with us
for some cases and they were also reluctant for an interview. There are few interrelated
problems. These are listed below:

First, the corporate executives tend to be busy. It is difficult to get time from
corporate executives. Even though they allowed such interactions, the time given
was inadequate.

Second, the business executives have limited understanding regarding the indepth knowledge and scope of the study. They were not sure about the relevance
of the study in their context.

Third, some information could not be attained due to confidentiality. In those

cases, we only explained that part theoretically.

The survey is subjected to the bias and prejudices of the respondents. Hence 100%
accuracy cant be assured. The researcher was carried out in a short span of time,
where in the researcher could not widen the study.

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5. Historical Background:
Square Pharmaceuticals Ltd is the flagship company of Square Group. In stark
contrast to its present stature, Square had a rather humble beginning. They have a
reputed name in the pharmaceutical industry in Bangladesh for manufacturing quality
medicines over their decades. SPL made its debut in a humble way in 1958 from a
small house of the village Ataikola near Pabna. Square today symbolizes a name a
state of mind. But its journey to the growth and prosperity has been no bed of roses. In
1958, the Company started as a small scale pharmaceutical venture at Pabna, a small
town in Northern Bangladesh. It was a partnership effort of four young and
enterprising men under the leadership of the Chairman, Mr. Samson H Chowdhury,
whose determination and passion saw it through the turmoil of the early days. In 1964,
the company was turned into a private limited company. After the independence of
Bangladesh, 1975 was quite a significant year for Square as it established a technical
collaboration with Janssen Pharmaceuticals of Belgium; a subsidiary of Johnson and
Johnson, USA. In its relentless quest for higher technology, Square signed a
technological collaboration with F. Hoffman-La Roche & Co. in 1984. In the year of
1987, Square became the first Bangladeshi company to export its product abroad. The
company stepped into a new era when it was transformed into a public limited
company in 1991 and subsequently it was publicly listed as both the stock exchanges in
Bangladesh, in 1995. Square Pharmaceutical Ltd has been successfully retaining its
market leader position in Bangladesh for the last consecutive 23 years and its current
market share is approximately 19.19%. 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.

6. Milestones of Square Pharmaceuticals Ltd.

1958 :
1964 :
1974 :
1982 :
1985 :
1987 :
1988 :
1994 :

Debut of Square Pharma as a Partnership Firm.

Converted into a Private Limited Company.
Technical Collaboration with Janssen Pharmaceutica, Belgium, a subsidiary of
Johnson and Johnson International, USA.
Licensing Agreement signed with F. Hoffmann-La Roche Ltd, Switzerland.
Achieved first position in the Pharmaceutical Market of Bangladesh among all
national and multinational companies.
Pioneer in pharmaceutical export from Bangladesh.
Debut of Square Toiletries Ltd. as a separate division of Square Pharma.
Initial Public Offering of Square Pharmaceutical Shares.

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1995 :
1997 :
1998 :
1998 :
2001 :
2002 :
2003 :

Chemical Division of Square Pharmaceuticals Ltd. starts production of

pharmaceuticals bulk products (API).
Won the National Export trophy for exporting pharmaceuticals.
Second Unit of Square Textile Ltd. is established.
Agro-chemicals & Veterinary Products Division on Square Pharma starts its
operation.
US Fda/UK MCA standard new pharmaceutical factory goes into operation built
under the supervision of Bovis Lend Lease, UK.
Enlisted as UNISEFs global suppliers.
Management Agreement with Bumrungrad Hospital International of Thailand
for the management of Square Hospitals Ltd.

2004 :

Signing of agreement with ROVIPHARM.

2007 :

Square Pharmaceuticals Ltd. Dhaka Unit gets the UK/MHRA approval.

2012 :

Awarded TGA Certificate.

7. About the Organization:

7.1 Vision
The company views 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

7.2 Mission
The companys 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.

7.3 Objective
Their objectives are to conduct transparent business operation based on market
mechanism within the legal & social frame work with aims to attain the mission
reflected by our vision.

7.4 Corporate Focus

To emphasize on the quality of product, Process and Service leading to growth of
the company imbibed with good government practices are the main corporate focus.

7.5 Goal
The goals of Square Pharmaceuticals limited are

Report on:

Develop a realistic deposit mobilization plan. Strengthen operation in domestic to

increase market share and profitability to offer more value to the shareholders
offer contract-manufacturing facility

Manufacturer and

market

time demanded

and

international

standard

pharmaceutical in domestic and export market.

Association with global research based pharmaceutical company for marketing or

manufacturing their products.

7.6 Slogan
7.6.1 Business Slogan
Square Pharmaceuticals limited always uploads the dictum: Dedicated to
advanced technology.
7.6.2 Corporate Slogan
Square Group of industries has a common corporate slogan: Jibon Bachatey,
Jibon Sajatey

7.7 Square Quality Policy

Business should work against corruption in all its forms, including exportation and
bribery.

Make sure that they are not complicit in human rights abuses.

Business should uphold the freedom of association and the effective recognition of
the right to collective bargaining.

The elimination of all forms of forced and compulsory labor.

The effective abolition of child labor.

Ensure strict compliance with WHO CGMP standards and local regulatory norms in
every phase of sourcing & procuring quality materials, manufacturing, quality
assurance and delivery of medicines.

Business should support and respect the protection of internationally proclaimed

human rights with in their sphere of influence.

Elimination discrimination in respect of employment and occupation.

Business should support a precautionary approach to environmental challenges.

Undertake initiatives to promote greater environmental responsibility.

Encourage the development and diffusion of environmentally friendly technologies.

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7.8

Strive of SPL

Square, strive, above all, for top quality health care products at the least cost
reaching the lowest rungs of the economic class of people in the country. We value
our social obligations.

Square owe their shareholders and strive for protection of their capital as well as
ensure highest return and growth of their assets.

Square strives for fulfillment of our responsibility to the government through

payment of entire range of due taxes, duties and claims by various public agencies
like municipalities etc.

Square strives, as responsible citizen, for a social order devoid of malpractices, antienvironmental behaviors, unethical and immoral activities and corruptive dealings.

Square strives for equality between sexes, races, religions and regions in all spheres
of our operation without any discriminatory treatment.

Square strives for an environment free from pollution and poisoning.

Square strives for the achievement of millennium development goals for the human
civilization.

8. Profile of Square Pharmaceuticals Ltd.

Corporate Headquarters

Square Centre 48, Mohakhali Commercial

Area, Dhaka 1212, Bangladesh

Factory

Shalgaria, Pabna Town, Pabna

Established

In 1958

Constitution

Public Limited Company

Chairman

Mr. Samson H. Chowdhury

Managing Director

Mr. Tapan Chowdhury

Authorized Capital

Tk. 1000 million

Paid-up Capital

Tk. 496.8 million

No. of Employees

2703

Product Range

Pharma91 products in 185 dosage forms

Chemical Division7 products

Agro Vet Division 7 products

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9. Activities of Key Functional Departments in SPL

As per the latest organogram SPL had 20 (twenty) functional departments for its
operation. The names of the departments are as follows:
1. Information Technology (IT) Department

11. Sales Department

2. Medical Services Department (MSD)

12. Distribution Department

3. Product Management Department (PMD)

13. Engineering Department

4. International Marketing Department

14. Production Department

5. Market Research and Planning Cell

15. Commercial Department

6. Quality Management and Audit Dept.

16. Technical Services Department

7. Production Planning and Inventory Cell

17. Quality Control Department

8. Personnel and Administration Department

18. Quality Assurance Department

9. HR Training and Development Department

19. AgroVet Department

10. Accounts (New Venture) Department

20. Accounts and Finance Department

10. Organogram of Square Pharmaceuticals Ltd

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10.1 Management Committee

10.2 The Breakdown of HR

Job Location

Manager

Executive

and above

Non-

Total

Executive

Corporate HQ

46

123

123

292

Chemicals Division

12

64

78

Pabna Plant

19

59

459

537

Dhaka Unit

14

61

168

243

Distribution

17

174

194

Field Force(SPL)

942

Field Force(Agrovet)

70

Field Force(Pesticide)

25

Total HR

84

272

988

2381

10.3 The Supervision Ratio

Criteria

Manager

Executive

Span of Supervision

Supervision

84

272

1:3

Executive

Non-Executive

272

988

1:4

11. Human Resource Department in SPL

Square, with its progressive business outlook, believes and practices corporate work
culture with a classic blend of efficiency and equity. Square Pharmaceuticals Ltd, with
its progressive business outlook, believes and practices corporate work culture with a

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classic blend of efficiency and equity. SPL believes in company growth by increasing
efficiency level of employees and for that offering excellent environment and support for
skill and knowledge up gradation. SPL values productivity as the spontaneous
contribution of Human Resources. Square believes in company growth by increasing
efficiency level of employees and for that offering excellent environment and support for
skill and knowledge up gradation. Square values productivity as the spontaneous
contribution of Human Resource. Strategic Human Resource Department programs are
the energy sources for Square HR for running towards the zenith of success. Flow of
clear and specific information of queries play the vital role to ensure the market
reputation of Square as the most trusted and transparent company and it enriches the
motivation level of HR who are the real contributors and owners of his/her own jobs. At
Square, HRD symbolizes the unique blending of professionalism as well as sharing the
stress and success equally like a family where every member has concern, feelings and
pride for their own company Square. HR ensures the strong supporting role to develop
and implement HR policy guidelines for ensuring uninterrupted operation and
spontaneous participation to achieve organization objective as well as fulfillment of
employee needs. HR is maintaining an effective way to deal with labor union and still no
unrest has been recorded as dispute personnel working here are taking care of Square as
it is their own family. HR is maintaining an effective way to deal with labor union and
still no unrest has been recorded as dispute. Personnel working here are taking care of
SPL as if it is their own family. Employee-employer relation is cordial.
The major functions implemented by this department are as follows:

Job evaluations and descriptions establishment

Recruitment and staffing policies and processes

Orientation and socializing new recruits and organizational members

Employee training and development facilitations and management

Employee performance management and evaluation

Compensation and benefits determination as per job evaluation

Talent retention strategies

Facilitating career development and enrichment of human resources

Maintaining relationship and communication with past, present, and potential

employees

Going through capability and disciplinary procedures for future actions

10

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12. Performance Appraisal

Performance appraisal is the process
through

which

an

organization

gets

information on how well an employee is doing

his or her job. The central feature of any
performance

appraisal

system

is

the

establishment of objectives against which any

assessment
individual

of
is

the

performance

based.

The

of

supply

the
chain

department of SPL conducts the performance

appraisal for all the employees of the department. The HR department helps in this
process. At first the employees are given the opportunity of self-evaluation. Later on the
employees are evaluated by their reporting boss and the person supervising his boss.
Thus all the employees including the AGM and EDA are evaluated. The MD evaluates
the EDAs performance. For this evaluation purpose there is a specific performance
appraisal form. Then the AGM, EDA and MD sit together to take decisions based on the
employee evaluation. If any employee's performance is not satisfactory then they decide
about how the performance of that employee can be improved. If any employees
performance is outstanding then he gets a promotion (Personal communication. 2006).

13. Types of Performance Appraisal Methods:

There are so many methods which are include in comparative method but the
most important and most popular are
i.

Straight ranking method

ii.

Grading method

iii.

Graphing rating method

iv.

Forced choice description method

v.

Forced distribution methods

vi.

Check list method

vii.

Critical incident method

viii.

Free from easy method

11

Report on:

I.

Straight Ranking Method: It is the oldest and simplest method of

performance appraisal, by which the man and his performance are considered as
an entity by the rater. No attempted is to made to fractionalize the rate; the whole
man compared with the whole man; that is the ranking of a man in a work group
is done against that of another. The relative position of each man is tasted in
terms of his numerical rank.

II.

Grading method: Under this system, the rater consider certain feature and
marks them accordingly to the scale, train categories of worth are first established
and carefully defined. The selected feature may be analytical

ability,

cooperativeness, dependability, self-expression, job knowledge, leadership, etc.

they may be [[A-out standing

B-very good C-average D-fair E-poor]]. These

are used in the selection of candidates by the public service commission.

III.

Graphic Rating Method: This is the most commonly used method of

performance appraisal. Under it a printed form one for each person to be rated.
The factors which are including in this method are employee characteristics and
employee contribution. In employee characteristics are included are leadership,
attitude, enthusiasm, locality creative ability, analytical ability, co-ordination. In
the employee contribution are include the quantity and quality of work, the
responsibility assumed, specific goal achieved, regularity of attendance. These
traits then evaluated on continuous scale where in the rather place a mark
somewhere along a continuum.

IV.

Forced Choice Description Method: It attempts to correct a rater tendency to

give consistently high or low rating to all the employees under this method the
rating elements are several sets of pair phrases or adjective relating to job
proficiency and personal qualification the following statement are illustrative of
the type of statement that are used. Organize the work well Lacks the ability to
make people feel at ease. Has a cool even temperament Is punctual and careful. Is
a hard worker and co-operative.

V.

Forced Distribution Method: This system is used to eliminate or minimize

raters bias so that all the personnel may not be placed at the higher end or lower
end of the scale. It requires the rater to apprise an employee according to a
predetermined distribution scale under this system it is performance and promo
ability. For this purpose a five point performance scale is used without any
descriptive statement. Employees are placed between the two extreme good or bad

12

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job performances. For ex 10% given to outstanding, 20% given to good and 40%
given to satisfactory.
VI.

Checklist Method: Under this method the rater does not evaluate employee
performance; he supplies report about it and the final rating is done by personnel
department. A series of question are presented concerning an employee to his
behavior. The rater then checks to indicate if the answer to a question about an
employee is positive or negative. The value of each question may be weighed
equally or certain question may be weighed more heavily than others.
Example- Is the employee really interested in job?

VII.

Yes/No

Free Essay Method: Under this method the supervisor makes a free form, open
ended appraisal of an employee in his own words and put down its impression
about the employee. He takes note of these factors, Relation with fellow
supervisor, General organization and planning ability, Job knowledge and
potential, Employee characteristics and attitude, Production, quality, and cost
control, Physical condition and Development needs.

VIII.

Critical Incident Method: The essence of this system is that it attempts to

measure workers performance in terms of certain events and episode that occur in
the performance rates job. These events are known as critical incident method.
The supervisor keeps a written record of the event that can easily recalled and used
at the time of performance appraisal.

14. Performance Appraisal Process in Square Pharma Ltd

The supply chain department of SPL conducts the performance appraisal for all the
employees of the department. The HR department helps in this process. At first the
employees are given the opportunity of self-evaluation. Later on the employees are
evaluated by their reporting boss and the person supervising his boss. Thus all the
employees including the AGM and EDA are evaluated. The MD evaluates the EDAs
performance. For this evaluation purpose there is a specific performance appraisal form.
Then the AGM, EDA and MD sit together to take decisions based on the employee
evaluation. If any employee's performance is not satisfactory then they decide about
how the performance of that employee can be improved. If any employees performance
is outstanding then he gets a promotion.

13

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14.1 Reward and Compensation System

The reward system of an organization includes anything that an employee may
value and desire and that the employer is able or willing to offer in exchange for
employee contributions. The reward system consists of a compensation and noncompensation system. Compensation refers to all forms of financial returns and tangible
services and benefits employees receive as part of an employment relationship.

14.2 Pay Structure

Pay structure is the relative pay of different jobs (job structure) and how much
they are paid. The pay structure for the employees of the supply chain department of
SPL is shown: Basic Salary + Home Rent + Transport + Medical Allowance

15. Recommendation:
As Square Pharmaceutical Ltd. is one of the leading national companies of
Bangladesh its human resource policies are much more competent and well organized
than any other organization of Bangladesh. Even many Multinational companies are
falling behind in the means of human resource practices than Square Pharmaceutical
Ltd. those are competing with the mentioned company. The training process of Square
Pharmaceutical Ltd. is very widely spread to fulfill employees need to be more
competitive. Each level of employees are facilitate with the training and development
programs of Square. 24 Employees are trained both on the job training along with off
the Job Training. Both internal and external trainers are available to train employees in
the organization. The great feature of its development process is that it provides
allowances according to the company rules to the employees when they are going for an
external training. But the lacking of Square Pharmaceutical Ltd. development system is
that it does not have any Training Institute of its own. Square Pharmaceutical Ltd. has
the structural support to establish a training institute to build its employees as it
requires. In the selection process of Square it does not have any physical examination of
the selected employees. There is no specified process of the Background Investigation of
the selected employees. It is recommended that it should adopt these steps also in the
selection process which will help them to have more competent employees in the
organization. Compensations and benefit programs are standard enough in Bangladesh
to retain employees in the organization but as Square Pharmaceutical Ltd. is a company
which is competing with many global companies so it should develop a compensation

14

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program which will be competitive enough to attract not only Bangladeshi candidates
but also the candidates those are globally competitive.

15

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16. Conclusion:
Square Pharmaceutical Ltd. is a very well-known national figure in Bangladesh. They
are the biggest organization in Bangladesh. Square Pharmaceutical Ltd. has a very well
reputation for this working environment. Usually they only recruit people for all-level
jobs, because they believe in the internal growth of their current employees. So it is
easily understandable that Square Pharmaceutical Ltd. prefers their current employees
first. That is why employees do not leave this organization. It is also true that Square
Pharmaceutical Ltd. has a number of good employees who are talented as well as
committed to the organization. They have very good communication skills. This is
because of Square Pharmaceutical Ltd.s strong recruiting and selection process. Before
taking employees they analyze on those position. They find out what are the
responsibilities they should perform and what is the recruitment to perform those
activities. Square Pharmaceutical Ltd. has a structured planning for those processes.
They conduct the processes in different steps. For this reason they have to spend time
but finally they are being able to get the most prefect employees for their organization.

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Report on:

17. References:

Class note and journal provided by course instructor Farhana Rashid

Personnel/HRM - David A. Decenzo/Stephen P. Robbins

HRM - Cynthia D. Fisher/Lyle F. Schoenfeldt/James B. Shaw.

HRM by Garry Dessler

Strategic Management and Business Policy by Thomas L. Wheelen, J. David

Hunger

www.squarepharma.com.bd

Nurul Islam, Executive, Human Resources at Square Pharmaceuticals Ltd.

Ekramullah

Shamsul,

Sr.

Executive,

Human

Resources

at Square

Pharmaceuticals Ltd.

Square Pharmaceuticals ltd annual report 2012-2013

Booklets published by Square Pharmaceuticals ltd

rapcollection.blogspot.com
en.wikipedia.org/wiki/square pharmaceuticals

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