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Enterprenure

In: Business and Management

Submitted By noman7745
Words 2081
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Entrepreneur’s Background

Family and academic background

Aminul Islam was born in Barisal on 2nd may in 1944. He was born in a middle class family in a village named Babarkhana situated in Barisal. He is the second son of his family. He has completed his High school from Barisal zilla School in 1959 and completed his College from Barisal BM College in Science major. After that he enrolled in one of the best university in Bangladesh which is Bangladesh University of Engineering & Technology and graduated with a respectful result in 1969.

Career and Experience

After graduating from his university Aminul Islam did government job in 1965 and quitted in 1977 in East Pakistan Industrial Development Government Corporation (EPIEC) . From there he gained a lot of working experience and knowledge which made him to success in his business later .

Business Motivation and starting

One of the motivating factors was his father’s dream of his establishment in the society and another factor was after the independence of Bangladesh Aminul Islam realized that a new country has been born, therefore, a lot of construction will be needed for the development of the country and that is when he came up with the idea of Project Builders Limited. He proposed the idea to three other recent BUET graduates and they agreed to start with this new business. After the death of one of the partner and other two sold their share currently Aminul Islam is the only Managing Director and Chairman of Project Builders Limited.

Vision

The vision of Project Builders limited is to make quality constructions and make a strong infrastructure development of the country.

Mission

Construction of important structure and projects and to become the number one construction builder in Bangladesh.

Initial Finance

The company was initially started with four partners along with Aminul Islam. Each partner contributed an amount of 50000 taka individually as a capital so the initial capital of the business was 200000 taka

Achievements and ongoing projects

Completed Projects

Project Builders Ltd made a great number of achievements in their past completed projects.They have mostly worked on big budgeted projects. Some of the major projects are

• Dap Dapia Bridge, Barisal.

• Neuroscience Hospital, Dhaka.

• National Theatre Complex, Dhaka.

• Bangladesh Shipping Corporation Building Chittagong, Chittagong.

• Bangladesh Sugar Mills Corporation Building.

• Kafco Housing Complex.

• Bangabandhu Majar (Tungi Para).

• Sylhet Moulobhibazar Road.

• Khulna Bagerhat Road.

• Chittagong Cement Factory.

• Chhatak Cement Factory.

• Biman Flight Catering Center Dhaka.

• Bian Ground Training Center.

• Bangladesh Bank Building Barisal.

• Bishyo Shahitto Kendro etc.

Ongoing Projects

There are many upcoming projects of Project Builders Ltd. Some of them are

• Dhaka-Mymenshingha Road.

• Sheikh Fajilatunnesa Specialized Hospital and Nurse’s Training College.

• Sheikh Fajilatunnesa Eye Hospital Gopalgong.

• Rawa Club Dhaka.

• Container Terminal Yard (Port), Chittagong.

• Radisson Hotel (20 stories).

• Destiny Development Ltd Building (25 stories) etc.

Business ananysis

Motivating Factors:

To get the maximum benefits from the employees, PBL motivates the employees in many ways. Besides providing Intrinsic rewards to the employees, it provides some extrinsic benefits which are highly appreciated by the employees. Some of the motivating factors of PBL are:

• Once an employee gets permanent after one year of probationer period, he becomes eligible for the Provident fund. In this case, the company’s contribution is the double of the amount that has been taken off from the salary of the employees. After 5 or 10 years, the employees can get the money back with the interest.

• Each and every employee gets 2 festival bonuses every year.

• Employees get 15 days on payment leave in a year. If they do not use the paid vacation, they get bonus for the unused days.

• The overtime rate is Double of the basic hourly wage or salary.

• 50% of the Lunch money is contributed from the company.

• There is a long time career buildup opportunity with PBL. If any one starts his or her career as an assistant Engineer, he or she can end up as a Director in future.

• Staff Devotion is so important here. The benefits, salaries, opportunities of an employee depend on his or her contribution, devotion, efficiency and effectiveness.

• Some juniors earn more salary than seniors in the basis of how beneficial he or she is for the company.

• Employees get an increment in almost every year.

• The minimum wage for a worker is 4000-5000 Takas.

Working Conditions and Safety:

The working conditions are very healthy and hygienic. The workers must have to wear gloves, helmet, uniform provided by the Company. There is proper sanitation system in the place where construction is going on. There is a cook who does cooking for the workers there. Workers are provided accommodation facilities while working in a project.

In office, the working conditions are very good. The whole office is air conditioned. Each employee has their own assigned place to sit and work. Office has emergency fire exit system, parking place for employees, lunch arrangements, well decorated meeting room.

Materials and Equipments:

Materials

There are a lot of materials used by PBL. The main materials used in construction are Bricks, Rods, Cements, Bitumen, Stones, Rocks etc. PBL purchases most of the materials from the local market instead of importing them. The sources of these materials are given below:

Rods

BSRM, PHP, RATAN Steel Co., Bashundhara, Rahim Steel are the companies that provide Rods to PBL. At present, BSRM produces the best Rods in Bangladesh and PBL purchases most of the Rods from BSRM. One Special type of Rods such as Pre Stressing Rods are used in making Bridges, Flyovers.

Cement

PBL buys cement from some companies such as SCAN Cement, Crown Cement, Rubi Cement, RSRM Cement Companies. There is not that much preference in choosing Cement as it is in Rods.

Bricks

Bricks are purchased from the local market based on the convenience. They prefer to buy the bricks from those specific areas where the projects are going on so that they can save the transportation costs.

Stones

Stones are purchased from Jaflong and some other parts of Sylhet. For transportation of Stones, they prefer Cargo instead of Trucks because the cost incurred by Cargo is One Fourth of the cost incurred by the Truck. They have agents there who buy Stones for them from the local sources.

Black Rock

Constructions need a special kind of Rocks such as Black Rock which is not generally found in Bangladesh. They have to import it mainly from India. Sometimes they import Rocks from Thailand.

Bitumen

Bitumen is mainly purchased from oil refineries. PBL mainly buys Bitumen from Dada Refinery, Stine Refinery etc. It is purchased on cash payment.

Machineries & Equipments

There are a large number of equipments that are used in construction business. Some of them are:

• Tyre Roller

• Pay Loader

• Asphalt Plant

• Soil Compactor

• Grader

• Dump Truck & Paver and

• Excavator

• Batching Plant

• Tower Crane

• Concrete Pump etc.

These equipments are mostly imported from China, Japan, Germany, India, Sweden, USA, Singapore etc. They used to buy a lot of reconditioned equipments from Japan, but now they are experimenting of using Chinese equipments which are brand new and way cheaper than the Japanese. The goal of this experiment is to find out whether the longevity of a brand new Chinese equipment is the same of Japanese reconditioned equipments.

Present Market Position

PBL is currently the leading construction company in Bangladesh. In the basis of projects, it gets the major percentage of constructing contracts. As it is the leading construction company, It has some major competitors with whom it has to compete in terms of getting a contract. The name of some of its competitors is:

1. Abdul Monem Constructions

2. Mir Akhtar Constructions.

3. Reza Constructions

4. Bengal Development Constructions.

5. Monico Constructions.

We can show the Present Market Conditions of PBL in terms of getting contracts by using the Pie Chart.

[pic]

Source: Mr. Rafiqul Anam, Chief Eng.of PBL

Annual Turnover

The annual turnover of PBL is increasing every year.

|Year |Amount & Currency |US$ Equivalent |
|2009-2010 |1,491,872,564.00 BDT |21,419,563.02 |
|2008-2009 |1,418,250,536.00BDT |20,421,174.02 |
|2007-2008 |1,297,349,658.00BDT |18,802,168.96 |
|2006-2007 |896,932,323.00BDT |12,999,019.17 |
|2005-2006 |837,142,709.00BDT |11,891,231.66 |
|Gross Turnover |5,941,547,790.00BDT |85,533,156.83 |
|Average amount |1,188,309,558.00BDT |17,106,631.37 |

Project Getting Process

SWOT Analysis

| | |
| | |
|Honesty of the entrepreneur | |
|Company reputation – leading company of the country | |
|Quality of work |Lack of Proper Management, The MD and the Chairman is the same person|
|Politically Neutral |Difficulties purchasing some raw materials |
|Highly experienced working team |Mega projects are likely to present many unforeseen problems |
|Use of latest technology and equipments |Mega projects are very complex and costly |
|Low labor wage |No Human Resource Department |
|Good relationship with foreign well known construction companies such| |
|as MBEC from China and BSB from Malaysia. | |
| | |
| | |
| | |
| |Political pressure |
|Possibility of entering into Solar Energy sector. |Threats of terrorism |
|Public Private Partnership (PPP) |Pilferages (misuse of raw materials) |
|In international bidding, government gives preference to domestic |Increased competitors |
|firms. |Decreasing profits |
|Competitors are sometimes slower in adopting new technologies |Lose of key stuffs |
| |Environmental hazards |

PEST Analysis

Company’s CSR

Source: Business Ethics (2nd edition), Crane & Matten, 2007

According to Crane and Matten, the company has four Corporate Social Responsibilities. PBL follows this Chart. To fulfill the economic responsibility, PBL earns 5 to 10% profit from each project. PBL does not get involved with any illegal activities that will go against the law which refers to Legal Responsibilities. PBL provides fair wages and salaries to its employees and workers. The working condition is also good. They provide many facilities to their employees. They are so much concerned of environment. These factors refer to the ethical responsibilities. They do some charitable donation to the needy people, provide books to the poor students, pay some students tuition fees, donates money for treatment of poor people etc.

Risk Management and Awareness

The management system of PBL has some lacking such as there is no Human Resource (HR) Department. The role of Chairman and Managing Director are played by the same person of the company. This creates a huge pressure on the Chairman to take decisions. There is also a vacant post for a Deputy Managing Director. PBL is thinking of starting a HR department. The proposal has not been finalized yet. In terms of Managing Directors, they are going to appoint a new Managing Director and a Deputy Managing Director as well. Their location is not in a best place. They are planning to change their location from Moghbazar to Gulshan PBL tower.

Recommendation for the Company

1. They should start a Human Resource Dept as soon as possible which will help them to have more efficient and dedicated employees to improve the business.

2. As Chairman has to play the role of a Managing Director, he sometimes cannot act as fast as he is supposed to and make decisions. They should appoint a new Managing Director and a Deputy Managing Director as soon as possible

3. As they already have the place to move, they should go to Gulshan PBL tower soon to enjoy more location advantages and facilities.

4. Their SOLAR project should be started as soon as possible. This project has a huge opportunity to succeed in the local market. If they start this project, the society will be benefitted as well.

5. They should involve in Social Responsible activities to gain public interest and to help in the welfare of the society which will improve their goodwill and will make a good publication of the company.

-----------------------
ACNEC does the later formalities and sends it back to PWD.

The Ministry approves the project in the Cabinet meeting then Sends it to the ACNEC

PWD makes Project Proposal and sends the project proposal to the Ministry

PWD then publishes about the project in the Newspaper and asks for Tenders.

The interested companies submit their tenders with the Bid Guarantee which is 2.5% of the Tender

The company with the lowest Bid is awarded for the contract and every company gets the Bid Guarantee back

The company gets back the Performance Guarantee and 10% Mobilization Advance to start the project.

After the submission of performance guarantee, the Company signs the agreement with the PWD

The Awarded Company Submits the Performance Guarantee which is (10-15) % of the total contract amount…...

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