West University Sub: Submission of report on management Practice of Polar(Dhaka Ice Cream Industries Ltd). Dear Sir We are glad to submit our Report on management Practice of Polar(Dhaka Ice Cream Industries Ltd). We try our best to pick up the practical information for this report. If there any mistake please excuses us. We hope that you will accept our report on management Practice of Polar(Dhaka Ice Cream Industries Ltd. ) Sincerely Yours Md. Mostafa Anwar Md. Nazmul Hasan Shahadat Hossain We want to give special thanks to- Mr. Golam Habib Head of HR & Administration,
Polar (Dhaka Ice Cream Industries Ltd. ) Dhaka. [pic] Purpose: Management is the most important element of a organization. Recently we are going to complete MGT-101 course which has fundamental ideas of management. Our group’s main purpose is to find how Polar is implementing the ideas of management in their organization. Limitations: We have faced some limitations to research our project, these are given below: 1. Shortage of time. 2. Facing problems in data collection. 3. It was very tough for our group members to fix a same time to group work. Hisory & Background: Late Mr.
Amanullah Miah, a leading private entrepreneur was the promoter and founder of Bangladesh Beverage Industries Ltd. (BBIL), which was incorporated much earlier than the formation of Dhaka Ice Cream Industries Ltd. (DIIL), was initially engaged in soft drink business, manufacturing and marketing PEPSI cola in Bangladesh, BBIL expanded and diversified its operation by setting up a new industrial unit on 9 March 1986 and venturing into Ice Cream Business. It is evident from historical record and a letter from the department of industries, ref # IPC/2840/85/343 of 09. 03. 1986, that the Bangladesh Beverage Industries Ltd. 385 Tejgaon Industrial Area, Dhaka, was accorded with the permission to set up a new industrial unit in the sector of dairy farming and dairy products (Ice Cream) with a production capacity of 916,5000 liters and an estimated product value of Tk. 36. 6 million. Permission was also accorded to establish letter(s) of credit to import machineries under wage earner scheme for an amount of Tk. 7. 99 million. It is understood that the DIIL commenced its commercial production in early 1988 and continued with Danish Technical Assistance , supervised by a Danish consultant under an agreement.
After the expiry of the agreement and subsequent working capital problem, the company ceased its production and sales in and from December 2007. In order to re-start business, recently there have been some major changes in shareholdings as well as management of the DIIL. The new management intends to start its production and business in the first quarter of 2009 Vision: To gain number one position in Ice Cream sector is their vision. Mission: To become a premium food company specially in ice cream sector by producing & selling best quality products & add values to their stakeholders.
Objectives: Earning profit with social accountability is the main objective of Polar. Theme of Polar: “Delight in every bite. ” Company Profile: Name of the Company: Polar (Dhaka Ice Cream Industries Ltd) . Year of Establishment: 1986 Initial Capital : 36. 6 million. Board Of directors : 03 Persons. Number of Executive : 68 Persons. Mid level Executive : 22Persons. Lower level Executive: 20 Persons. Business Sector : Food & Beverage. Authorized capital : 40 million taka. Profit : 5%
Working zone : All 64 Districts of Bangladesh. Products Of Polar The unit as many as 39 SKU’s and 25 distinctive brands/flavor. The image of Polar as the truly customer oriented company emerged because of it’s introduction of new & exciting products frequently in the market. There are also premium extruded ice cream sticks products like “Magnum” produced out of the state of the art line extrusion technology, which is the first ever in sub-continent. Market Share The competition is pretty stiff in the ice cream market but polar still leads with an approx. hare of 20%, Igloo has approx. 60% market share, followed by Kwality at around 15% market share, while Milk Vita and Savoy manages the rest. Some Policy Polar 1. Recruitment Policy. 2. Business travel tour Policy 3. Leave and holiday Policy 4. Corporate cellular phone Policy. 5. Company car allowance Policy. 6. Sales target Policy. Management Practice Applied In Polar Planning: Production of Polar was completely stopped for 30 months. In 2008 new management took the responsibility to reestablish Polar. After 9 months hurdle they became successful to start production.
They have settled their plan and recruited new people, bought new parts, and thus they have expand their business. During 2009 they have achieved 100% target. They saw that Bangladesh has a huge potential market of Ice cream. In 2010 the management of Polar target twice than 2009 and they have already managed to achieve it. They have raised 45% more target established for the year 2011. VALUES OF Polar: Maintaining their value is their first priority of their planning. <> <> <> <> <> <> Organizing Polar is a business organization. Their main target is to become no. Ice Cream brand in Bangladesh. They are working according to their plan. They have structural work plan to accomplish organizational goal. Leading Leadership motto of Polar is you follow or lead. In this purpose age or seniority is not a fact. In leadership they follow Non Directive style of management. Polar lead their institution by segmenting their responsibility like administration, audit, Monitoring & Evaluation, research, planning & publication, human resource development etc. Now their descriptions are given below. Administration:
Administration department of Polar is one of the vital departments. At present this department is run by a senior experienced line manager under close observation of the head of HR & Administration. The task of this department is to initiate new administrative rules & regulation as well as monitoring the implementation of those rules & regulations in the organization. This department is also liable to maintain discipline in the organization and has the authority to take any kind of disciplinary action with the consent of the Executive Director of Polar.
The administration department also exposes the significant rights of Polar to the society as well as ensures its benefits from its contact with the other organizations Controlling: Every employee of Polar has given power but that should be used only in working area. If employee can achieve 98% of the target then it’s all right but if any one fails to maintain the target without any certain reason then he would be punished. Polar actually belive in improving they actually don’t control people they call the system as performance appreciable system.
In Polar controlling functions are mainly handled by human resource department. Polar’s controlling functions are given below. RECUITMENT, SELECTION AND APPOINTMENT OF STAFF In Polar there are three categories of staff recruitment policy- Recruitment from open competition; this is done by normally floating open advertisement responding to which CVs from the prospective candidates are collected. If necessary a shortlist is prepared. Then a recruitment test is conducted. A test again may imply both written and viva-voce. Evaluation is done based on that test. The candidates are ranked on the basis of this evaluation.
HRD recommends selections of candidates to be appointed based on this ranking. Then after receiving necessary approval from the appropriate authority it takes up the job of appointment. PERFORMANCE APPRAISALS Performance Appraisal of staff exists in Polar from the year 1988 when the entire process was conducted by the Administration Department. But from the year 2006 the whole production has been postponed. process. But from 2009 To carryout the process properly HRD has been accomplishing orientation programs on Annual Performance Report (APR) and as a result hereof an employee can properly perform appraisal exercise.
In Polar promotion and normal increment depend on the performance appraisal system. PERSONAL MANAGEMENT Personnel management in Polar is done through a system of filing regarding the serving staff of different departments. The entire process has been so far maintained manually but recently HRD is planning to conduct the process by developing software. HRD however, still now, follows the following steps to handle the personal files. Motivation System: Polar follow some techniques to motivate their employees. Management of Polar motivate their employees through monetary & non monetary way.
Polar has segmented their employees in two ways. a) Sales Person. b) Non sales person. People who works in sales area of Polar are given bonus & rewards on their sales which has been targeted by the administration of Polar. If they can achieve 98% of their goal they are rewarded by bonus. The bonus amount for Zonal officers = 20,000 Taka, Regional officers = 10,0000 taka and for Area sales officers bonus amount is 5,000-7,000 taka. Bonus for non sales person are given on their Key performance indicator or KPI.
For getting bonus they have to accomplish these works: increasing profit growth, cost minimization, working efficiently & effectively. Management authority of Polar distributes 5% over total profit to worker’s. Other Management Functions of Polar STAFF SEPARATION In this part HRD mainly performs the following tasks: 1. To develop and reorganize staff separation policy. 2. To develop retirement plan. 3. To offer counseling to retain potential staff 4. To recommend clearance on the case of benefits to be given to the staff in the time of separation based on HR-Policy. 5.
To handle the cases of final payment. Asset Management 1. To develop & to ensure the management of fixed assets policy at Polar. 2. To maintain the inventory of fixed assets & make it up to date half yearly as well as to provide safeguard to those assets. 3. To ensure proper utilization of fixed assets at Polar. PURCHASE & PROCUREMENT 1. To ensure purchase & procurement by following Polar procedure and process. 2. To directly take part in purchase & procurement of goods and services. 3. To constitute purchase and procurement committees. 4. To issue work order on purchase. 5.
To Process provide logistic support to tendering. Conclusion: Polar is one of the favorite ice-cream brand in our country. Its develop its condition gradually day by day. We know this company totally stop its productivity 2 years. In 2007 new management group gradually develop its condition because this management group have some vision , mission and various rules and regulation. They have some strategy for employee ,customer , director ,manager ,sells executive. They have some unique motivation system to motivate people and maintain strong recruitment system to recruitment new employee.
We say this is good management oriented organization. This company main goal is to get its position number 1 in our country. We hopefull this organization because a dead company recovery his life its a difficult job but polar company management possible this job. So this organization management is strong and goal oriented. We are very much pleased to visit this organization because we learn a organization management practically and learn a dead company recovery history. ———————– Acknowledgement