General Overview of the Economy of Bangladesh

Letter of Transmittal

Date: 29th July 11, 2017

Mohammad Khasro Miah Ph.D.

Professor, MBA Program,

School of Business and Economics,

North South University

Subject: Submission of semester final paper

Dear Sir,

In the following pages, we have presented BUS 601 semester final paper, which you had authorized us to prepare.

The aim of this study is to assess current HRM practices of recruitment and selection of Anwar Group, as well as the future challenges the country faces. Based on secondary sources, we explain the institutional contexts of the HRM functions of recruitment and selection. Here, we also highlight recent developments and future challenges with regard to HRM practices.

This paper will try to achieve the goal of talking about the necessary topic and explaining the matter as briefly as possible.

Sincerely,

Group E

Executive Summary

The aim of this study is to assess current HRM practices of recruitment and selection of Anwar Group, as well as the future challenges the country faces. Based on secondary sources, we explain the institutional contexts of the HRM functions of recruitment and selection. Here, we also highlight recent developments and future challenges with regard to HRM practices. While credible research on HRM practices in Bangladesh is still rare, this study will be beneficial to researchers and HRM practitioners interested in Anwar Group or how one of the most influential group of companies perform. We hope, will encourage future research.

I want to recommend that Anwar Group should expand the Human Resource Management. This department controls that kind of factor. The H.R.M section Reviews the job design, compliance issue, productivity time & other relative Importance.The industry can provide extra facility or the employee those who are wanting to learning for something.Industry can also collect the graduates & other shill resources those who are educated in this sector. The educational Institute & the Industry can provide the student for research & internship serve in this sector. Those kinds of activity help the Apparel industry for upgrades in every time & match with the changing fashion business world.In the production level we can apply the job rotation for reduce the boringness from the inner side of the worker. Effective communication & active motivation creates a smart industrial environment which creates the chance to create a highly functioning employee management. The management in turn can oversee what the required specifications of jobs and create a recruitment and selection process that conforms the conglomerate’s selection and recruitment process while recruiting the necessary applicable candidates.

Table of Contents

Letter of Transmittal        1

Executive Summary        2

Chapter 1 – The industry        4

General overview of the economy of Bangladesh        5

HRM practices in the industry        6

SWOT Analysis of the industry        9

Chapter 2 – Anwar Group        12

Introduction        12

Vision        13

Values        13

Sister concerns        14

Employee Recruitment and Selection Process        16

Questions usually asked by the interview board to a possible recruit        19

Chapter 3 – The acquired information        21

Introduction to Kazi Rakibuddin Ahmed        22

Questions asked to MR. Kazi Rakibuddin Ahmed        23

Summary of the knowledge gained about the selection and recruitment process        23

Chapter 4 – The Conclusion        32

Problem and Recommendation        32

Conclusion        34

Chapter 5 - References        35

References        36

Chapter 1 – The industry

General overview of the economy of Bangladesh

The market-based economy of Bangladesh is the 46th largest in the world in nominal terms, and 33rd largest by purchasing power parity; it is classified among the next eleven emerging market economies and a Frontier market. According to the IMF, Bangladesh's economy is the second fastest growing major economy of 2016, with a rate of 7.1%. In the decade since 2004, Bangladesh averaged a GDP growth of 6.5% that has been largely driven by its exports of ready-made garments, remittances and the domestic agricultural sector. The country has pursued export-oriented industrialization, with its key export sectors include textiles, shipbuilding, fish and seafood, jute and leather goods. It has also developed self-sufficient industries in pharmaceuticals, steel and food processing. The government promotes the Digital Bangladesh scheme as part of its efforts to develop the country's growing information technology sector. Many new jobs, mostly for women, have been created by the country's dynamic private ready-made garment industry, which grew at double-digit rates through most of the 1990s. By the late 1990s, about 1.5 million people, mostly women, were employed in the garments sector as well as Leather products specially Footwear (Shoe manufacturing unit). During 2001-2002, export earnings from ready-made garments reached $3,125 million, representing 52% of Bangladesh's total exports. Bangladesh's textile industry, which includes knitwear and ready-made garments (RMG) along with specialized textile products, is the nation's number one export earner, accounting for $21.5 billion in 2013 – 80% of Bangladesh's total exports of $27 billion. Bangladesh is 2nd in world textile exports, behind China, which exported $120.1 billion worth of textiles in 2009. The industry employs nearly 3.5 million workers. Current exports have doubled since 2004. Wages in Bangladesh's textile industry were the lowest in the world as of 2010. Until 1980s, the financial sector of Bangladesh was dominated by state-owned banks. With the grand-scale reform made in finance, private commercial banks were established through privatization. The next finance sector reform program was launched from 2000 to 2006 with focus on the development of financial institutions and adoption of risk-based regulations and supervision by Bangladesh Bank. As of date, the banking sector consisted of 4 SCBs, 4 government-owned specialized banks dealing in development financing, 39 private commercial banks, and 9 foreign commercial banks.