Business and Management

 [Chapter – 01]

1.0 Introduction:

Every organization performs its task with the help of resources as men, machine, materials and money. Except manpower other resources are non-living but manpower is a live and generating resource. Manpower utilizes other resources and gives output. If manpower is not available then other resources are useless and cannot produce anything. Out of all the factors of production manpower has the highest priority and is the most significant factor of production and plays a pivotal role in areas of productivity and quality. In case, lack of attention to the other factors those are non-living may result in reduction of profitability to some extent. But ignoring the human resource can prove to be disastrous. In a country where human resource is abundant, it is a pity that they remain under-utilized. The people at work comprise a large number of individuals of different sex, age, socio-religious group and different educational or literacy standards. These individuals in the work place exhibit not only similar behavior patterns and characteristics to a certain degree but also they show much dissimilarity. Technology alone, however, cannot bring about desired change in economic performance of the country unless human potential is fully utilized for production. The management must therefore be aware not only organization but also employees and their needs.

The human resource is critical and difficult to manage. It is because human behavior is highly unpredictable. It differs not only from individual to individual but often on the part of same individual at different points of time. In spite of biological and cultural similarities, human beings not only differ in their appearance but also in their capabilities based on their background, training and experience. Human resource or a person at work is the most important component of the undertaking. Management cannot afford to ignore human resource at any cost. Management is the process of efficiently getting activities completed with and through other people. The management process includes planning. Organizing, leading and controlling activities those take place to accomplish objectives. Being a branch of management, personnel management also performs the same functions towards the achievement of objectives. Different terms are used for personnel management. The different terms are labour management, labour administration, labour management relations, employee employer relations, personnel administration, human assets management, human resources management etc. In simple sense, human resource management means employing people, developing them, utilizing, compensating and maintaining their services in tune with the job.

1.1 Purpose of the Study:

This research project is the part of my IMBA program. In this project I tried to find out all sorts of practical dealings that are conducted in case of Needs of performance Appraisal process in organizational performance of Akij Textile limited, Beximco Textile Limited, Square Textile Limited and Wet Soft Tex Limited. the theoretical aspects aims at creating and maintaining a satisfactory level of performance by the employees on their present job groups.

1.2 Scope of the Study:

I have selected Akij Textile limited, Beximco Textile Limited,Square Textile Limited and Wet Soft Tex Limited. The research will provide me with an opportunity to explore in the field of Human Resource. The research will also provide  to performance appraisal system for retain the talent in the organization. By the study it can be possible to learn how to find out the talent form the existing organization, what sort of reward have to provide, what type of training have to provide for career growth, what type of motivation have to provide for job satisfaction for high productivity. What type of step should the organization take to build up a future leader and what type of objective have to fulfill by them. By the performance appraisal how the organization can achieve the organizational goal. The organization will be benefited from the study. It will be able to identify the weakness and strength of its performance appraisal system and will be able to take necessary steps to make their system more effective. An effective performance appraisal system will contribute to the human resource development process of the concerned organization.

1.3 Objectives of the Study:

Primary objective:

The primary objective of this project is to learn about the Performance Appraisal  process in a company and its affects in organizational performance of Akij Textile limited, Beximco Textile Limited,Square Textile Limited and Wet Soft Tex Limited..

Report objective:        

1. To give detailed information about Performance Appraisal process of Akij Textile limited, Beximco Textile Limited,Square Textile Limited and Wet Soft Tex Limited.
2.  To ensure that all key employees performance in there job.
3. Evaluate the overall performance of the organization by getting feedback from employees performance.
4. To motivate the employees be evaluate their performance and according to the performance have to provide the reward, punishment, increment, career development and also if necessity then skill development.
5. Assess the implementation of performance appraisal pilot for effectiveness and sustainability;

1.4   Limitations of the study:

From our previous experience we think some problems will have to face during preparing this report, which can be termed as the limitations of the study. The problems are as follows:

1. The questionnaire was received with distrust, suspicion, and negligence. Hence the accuracy of quantitative data was reduced.
2. All internal and sensitive information was not found properly form the organization.
3. Lack of sufficient time of the personnel, which delayed the analysis of data and thus completion of whole report.
4. Lack of sufficient books and journals about performance appraisal system in different libraries.
5. Unavailability of enough relevant records and information in organization.
6. Some of the respondents were afraid of in providing confidential information and some of them showed less interest on such assignment and few members of the target group willingly avoided the interview.
7. An event more in depth study could be made regarding the validity and reliability of the system however the stipulated time period time did not allow such extensive coverage.

1.5 Methodology of Information Collection:

Respondents are come from Akij Textile limited, Beximco Textile Limited,Square Textile Limited and Wet Soft Tex Limited.. Respondents came from a variety of industry sectors. They represented all sizes of organization and were based throughout the Dhaka. I used telephone interview, email, and online survey method. The data used to furnish this report have been collected from the primary sources & secondary sources.

Primary Sources:

Employee’s opinion of the Akij Textile limited, Beximco Textile Limited,Square Textile Limited and Wet Soft Tex Limited Office visit.