Overview & Culture of BSRM: Syed Mahmudul Quader

Overview & Culture of
BSRM
Rezwanul Mustafa
Shafiqua Afroz
Mahmudur Rahman
Syed 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
Chairman
MD
Board of Directors
Executive Directors
Head of Departments
Executives
Non 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 For nine months ended on
December 2009(Million 31st December 2008(Taka)
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.

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Overview & Culture of BSRM: Syed Mahmudul Quader

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Overview & Culture of

• The Mission of the Company is to make life of the people

 The best quality steel products, continuously enhancing customer

 Year of Incorporation 2002

Particulars 2009(Million Taka) 2008(Million Taka)

 High interest rates decline profit

From our above discussion we see

So, we believe that BSRM has an open and collaborate culture.

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