bsrm steels ltd
DESCRIPTION
BSRM Steels Bangladesh.TRANSCRIPT
Overview & Culture ofBSRM
Rezwanul MustafaShafiqua AfrozMahmudur RahmanSyed Mahmudul Quader
Mission
• The Mission of the Company is to make life of the people secured and safe by providing quality products at a cheaper price and to be a partner in the nation building activities.
Vision
The best quality steel products, continuously enhancing customer satisfaction and becoming a reliable business partner of our customers and suppliers.
Be an employer of choice, with focus on nurturing talent and developing future leaders of the organization.
Protect the interest of our shareholders through sustainable growth and value creation.
Preserve the trust of all our stakeholders by adopting ethical business practices.
Support the society through Corporate Social Responsibility initiatives.•
Values
Sustainable Growth Quality Reliability Trust Leadership Social Responsibility Customer Satisfaction
BSRM Group Over The Years
• 1952 --The BSRM Saga began when the first steel re-rolling mills started to emerge in the then East Bengal.
• 1984 --Introduced high–strength cold twisted steel bars to the construction industry.• 1987 --Introduced ASTM 615 Grade 60 reinforced steel bars.• 1996 --Commissioned the largest billet making plant in the country.• 2006 --Introduced micro-reinforcement wires below 8mm for low cost rural
construction.• 2008 --BSRM Steels Limited started producing internationally recognized Grade 500
steel bars branded as Xtreme 500W.• 2010 --BSRM Iron & Steel Co. Ltd. started billet production in March 2010 having the
capacity of 200,000 MT per annum; operating 24 hours a day; it has become the largest billet plant in the country.
Overview
Year of Incorporation 2002 Date of Commercial- Production 1st April, 2008 Authorized Capital BD Tk. 200.00 Crore Paid up Capital BD Tk. 145.00 Crore Share Listing Date 18th January, 2009 Annual Production Capacity Now 3.56 lakh tonnes After expansion 5 lakh tonnes Market occupy 12 %
Projects
Megna Bridge Dhaka city Storm water drainage Project Shambhuganj Bridge Project 210 MW Thermal Power station at Rangunia Jamuna Fertilizer Factory Barapukuria Coal Mine project Various Embassies Army Heavy Workshop Complex Megna-gumati Bridge Project Third Karnofully Bridge
Organogram
ChairmanChairman
MDMD
Board of DirectorsBoard of Directors
Executive DirectorsExecutive Directors
Head of DepartmentsHead of Departments
ExecutivesExecutives
Non ExecutivesNon Executives
HRM
• As on 31st April 2008 the number of executives was 12 and 172 non-executives.
• BSRM has appointed PricewaterhouseCoopers (PwC) - one of the largest and reputed management consultancy firm in the world with the aim of strengthening human resource management through the following three stages:
– Create a corporate vision and values to guide them in all aspect of their operations, functions and units.
– Analyze the corporate structure to develop the most effective way to establish production, sales and delivery systems.
– Provide a road map for building a world class human resource management system.
Performance Analysis
Operating Performance
Particulars For the year ended on 31st December 2009(Million Taka)
For nine months ended on 31st December 2008(Taka)
Turn over 15844.35 5483.54
Gross Profit 1583.30 (1311.37)
Net Profit (After Tax) 574.09 (1899.10)
EPS 39.59 (153.00)
Financial Position
Particulars 2009(Million Taka) 2008(Million Taka)
Total assets 9895.36 8707.38
Current Liabilities 8164.11 7162.97
Retained Earnings (1325.01) (1899.09)
NAV Per Share 8.62 (30.97)
Production & Sales
Performance of BSRM in Capital Market
SWOT Analysis
Strength
Market leader Great competitive skills Reliability Strong employee bonding and belongingness Strong Marketing Lineup Strong Products Distribution Lineup Modern Equipment & Technology Backward-linkage industry
Weakness
High interest rates decline profit Power Crises
Oppurtunities
Market Dominance International Scope Increased demand for the products Organizational Goal
Threats
New competitors Economic Crisis Growing Competition Labor Unions Power Crisis
Culture
Findings
• Style of Dresses : Formal dress for Men and shari for woman• Attitudes about talk: Friendly • Foreign Influence: Engineering Consultancy between BSRM Steels
(Bangladesh) and BSE (Germany). So BSRMS has a German influence on their work culture.
• Sociability: Employees are involved with one another on a personal level. • Power distribution: All the employees have given with proper authority
and power. Once the Chairman of BSRM group said “ I don’t keep any files on my desk for more den 5 minutes, everybody has been given authority to do their own work”
• Degree of structure: People operate their own area of responsibilities
• Achievement rewards: For encouraging the employees of the company they started a program to recognize one of the workers as “Man of the month” for his performance in each month. They have also Workers Profit Participation Funds, Workers Welfare funds, Provident Funds and Gratuity.
• Opportunities for Growth: For future growth of the company and the skills of the employees, they have appointed PricewaterhouseCoopers (PwC) to articulate the organizations vision and review the HR system and the organizations structure of the company.
• Tolerance for risk and change: In spite of the global recession and stagnating political environment of Bangladesh in 08, they didn’t cut off any employee. Instead they encouraged and had a full year of production in 09.
• Emotional support: 90% of the employees are satisfied because they have different fund programs for the betterment of the employees.
• Workshops: BSRMS is a pre and post sells service provider. BSRM as a premier quality conscious company wants every worker to be aware of the best practices in constructions. To reach out the community in spreading the word BSRM arranges workshop for engineers & Masons. Since most people in Bangladesh are dependent on Masons, BSRM arranges many masons in the remote areas of Bangladesh. BSRM arranges thirty seven such workshops in 2009. Mission clarity: They are producing quality products and ensuring safety to the people by arranging different workshops and conference with the workers. They have already done number of nation building projects and would continue doing in future.
• Corporate Social Responsibility:– various social, religious and cultural organizations. – road dividers to the Metropolitan police in Chittagong and Dhaka.– In winter BSRM distributed blankets to the poor all over Bangladesh. – Running a free school for 350 under privileged children at Nasirabad,
Chittagong.
Decision
From our above discussion we see • BSRM as an open and friendly place to work where people share a lot of
themselves. It is like an extended family. • Leaders are considered to be mentors or even parental figures. • Group loyalty and sense of tradition are strong. • There is an emphasis on the long-term benefits of human resources
development and great importance is given to group cohesion. • There is a strong concern for people. • The organization places a premium on teamwork, participation, and
consensus.
So, we believe that BSRM has an open and collaborate culture.