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Human Resource Management Of Tulip Properties Limited

BY
UNDER THE SUPERVISION OF Dr. Helal Uddin Ahmed Chairman, DBA Southeast University Dhaka

FARZANA FERDOUSHI ID NO: 2008010002052 MBA Southeast University Dhaka

ACKNOWLEDGEMENT

First and foremost gratefulness is to almighty Allah for giving me strength, courage and patient to prepare this Report on Human Resource Management of Tulip Properties Limited. I would like to thank our honorable faculty Dr. Helal Uddin Ahmed for his kind cooperation and suggestions given to me in the preparation of this paper. He helped me by giving his valuable time, guidelines and instructions from time to time. I also wish to express my deep gratitude to those students of my class who inspired and supported me for doing this Report.

Finally, I would also like to thank my friends and well wishers for their heartfelt supports and encouragement.

1. EXECUTIVE SUMMARY

This study is related to the Human Resource management of a local successful Real Estate firm called Tulip Properties Limited. The

objective of my study was to discuss with the top management of the organization and realize the issues Tulip Properties Limited faced regarding the strategic moves made by them. Then I arranged the Human Resource management issues according to the literature of the book and the outline provided by respected faculty. After reviewing the literature, my main focus was to find out the problems Tulip Properties Limited was facing for strategy formulation and execution. I identified three most important problems of Tulip Properties Limited.

2. COMPANY BACKGROUND

Introduction: Tulip Properties Ltd was established in 2005 and has grown into one of the most successful residential, leisure and commercial developers in Bangladesh. Driven by a passion for excellence, luxury and determination to deliver homes to its customers as quickly as possible. The company is taking every step towards safeguarding its customers interest. Tulip is a lifestyle brand, and we work endlessly to improve our quality. Tulip Properties Limited, situated in Dhaka, is one of the developer companies in constructing and selling apartment buildings. It has been trying to produce quality flats and revolutionize the idea of flats to the consumers to be a comfortable and aesthetic living place since 2020. At the moment, Tulip has more than 500 people working in 10 (Ten) running projects and servicing in around running projects. It is now one of the largest organizations in the realestate sector in Bangladesh. Tulip now has more than double projects running compared with its nearest rival.

Historical Background:
Mr. Md. Yousuf Iqbal Chowdhury and Mr. Ashique Yousuf Chowdhury started business in the form of Tulip in 1st March 2005 informally with only 08 (eight) people. Then gradually he organized the organization. They collected some plots to develop and organized office space and other related facilities. Afterwards, They formally launched the company with 25 (twenty five) people. There were merely four departments at that time. The departments deal with supply, administration, constructions and marketing. The CEO Mr. Md. Yousuf Iqbal Chowdhury looked after the activities in details at that time.

Critical Events and Milestones: To have a clear idea about the progress of Tulip Properties Limited, year-byyear critical events and milestones are stated in brief here. In 2005, the organization completed the formal and legal proceedings and developed the initial infrastructure to run the organization. In 2006, Mr. Qayyum Chowdhury, one of the renowned directors of Tulip now, joined Tulip and flourished the business afterwards. Tulip advertised a lot and finally established some kind of brand name.

In 2006, Tulip Properties Limited celebrated as they reached the

milestone of having one hundred lands for development. And after 2007, Tulip became one of the biggest developer in the market in flat constructing. At that time they first got huge response from the landowners and consumers. In 2007, the departmentalization was finalized. The job responsibility of every department was set and strong reporting relationships were established. Everything was done on the basis of paper, not on the word of mouth. In 2007, Tulip formally started to develop projects in Chittagong. In 2007, Tulip got so many projects that they had to take projects on the term that they would start the construction work after one year after Deed of Agreement. In 2007, Tulip slowed down their expansion as the political and consequently economic conditions of the country came to dire state after 1/11. In 2009, Tulip formally started to develop projects in Sylhet & Comilla.

3. Industry and Competitive Analysis

In order to do the industry competitive analysis seven issues should be focused. The issues are as follows~ (1) Dominate economic features of the industry. (2) Competitive forces industry members facing. (3) Driving forces and its impacts in the industry competitive intensity and industry profitability. (4) Market position of the rivals in the industry. (5) Predictions of strategic moves of the rivals. (6) Key success factors for future competitive success. (7) Outlook for the industry present sufficiently attractive prospects for profitability. These seven issues are discussed in brief as follows:

(1)The Dominant Economic Features : In identifying the dominant economic features the following factors are analyzed carefully~

Market Size and Growth Rate: Market size for real estate is not very big for Bangladesh. Normally upper-class urban people afford to buy flats. When last government provided a chance to legalize the illegal money through buying flats, then the growth rate of the market was very high (around 20%). But when the new caretaker government changed the rule, then the market growth became negative since earlier this year. Scope of Competitive Rivalry and major rivals: There are a lot of firms working in Dhaka, Chittagong, Sylhet, Comilla and other parts of Bangladesh. There is an association called REHAB (Real Estate and Housing Association of Bangladesh). There are around more than 800 (Eight hundred) firms registered according to REHAB. There are some dominant firms in the real estate industry are Asset Developments, Sheltech (Pvt.) Ltd., Rangs Properties, Eastern Housing, Dom-Inno Developments,

Advanced Developments, Building Technology &Ideas Limited (BTI) and Structural Engineers Limited. Among them Tulip is one of the biggest developer company in the market in real estate. Other close competitors are Asset, Sheltech, Advanced and BTI. They are the old competitors. They individually has around 8 to 10 percent of market share. But some newcomers

like Dom-Inno, Rangs and Comprehensive are coming to the light much rapidly. So there are a large number of competitors in the industry. All of them are trying to grab the market share as much as possible. Newcomers are offering as much as possible to the prospective clients or land owners to take hold of the market share. Hence the scope of competitive rivalry is very acute in the industry.

Buyers Needs and Requirements: Buyers in this industry are aristocratic buyers. Their demand is to lead life in a very modern apartment. They want every facility of modern world in their apartment. New buyers are very cautious about privacy. So they need more rooms. As a whole, buyers are paying to live a life that most of the country people dreamt about. Hence their needs and requirements are distinct and buyers are paying high money to have the apartment and living in comfort.

Production Capacity: Industry players enjoy full capacity. So excessive capacity pushes the price and profit margin down. The industry is overcrowded with many large and small competitors. In 2008 more than one hundred flats were handed over

by different firms. Tulip handed over 10 projects. Sheltech Handed over 22 projects, Rangs and Dom-Inno individually handed over 20 projects.

Pace of Technological Change Technology is not changing much in this industry. Minor changes like using the steel trusses for scaffolding, using steel shutters and improved portland

composite cement and using flat slabs instead of beam oriented structure are the major changes so far in this industry. Hence technological changes are not yet the guiding factor in this industry.

Vertical Integration: Most of the firms in this industry do not use forward or backward vertical integration. This is because most of the raw materials like rod, cement, ceramics, wood, bamboo, sand, bricks etc. are separate industry. It is very tough to adapt with the suppliers industry and get benefit by doing their business properly. Some big firms like Anwar group, Bassundhara and Eastern Housing use some sort of backward vertical integration by producing GI pipe, cement, sand and rod or steels for structures. But this backward vertical integration did not prove much cost worthy.

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Product Innovation Product innovation in this industry means change in interior and exterior look of the building. The more a company can give a better outlook, the more it can attract the new customers. Hence product innovation is not a factor that can give a leading edge in this industry.

Degree of Differentiation: The main or dominant rivals are trying to modify their products by giving their outside view an artistic look. Other way to make the product differentiated is to use pure and perfect long lasting raw materials. When people can rely on the quality of the product, then it can be said that product is differentiated by the brand name of the firm.

Economies of Scale Well-established flat makers able to benefit from economies of scale and brand recognition, smaller companies struggling even remain afloat.

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Learning & Experience Curve Effects When the companies in the real-estate industry are expanding and people are accepting the flat concepts gradually in our country, the learning and experience curve affect come into play. Players in the industry are doing the same work again and again and get used to doing the work faultlessly.

The Competitive Forces: There are five competitive forces that determine the competitive condition of the industry. The forces are as follows~ The Rivalry among Competing Sellers.

Competitive Pressure - Threat of New Entry

Competitive Pressure from the Sellers of the Substitute Products.

Competitive Pressure - Supplier bargaining Power . Competitive Pressure - Buyers Bargaining Power

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The Rivalry among Competing Sellers: In the industry of real-estate flats are sold by so many companies. So the competition is fierce. Companies are trying to differentiate themselves by innovative offers and design features. Many companies offer low cost products, many companies offer moderate cost products and others offer high cost flats for high class. Normally companies target middle class people who buy flats with their last means. Rivalry is mainly focused at this market segment. Because middle class people are the largest number of buyers. Those who can grab this market can become the future market leader.

Competitive Pressure - Threat of New Entry Barriers to entry are very high. New companies with and without a fair amount of financial backing will still find it extremely difficult to start competing within the industry. But new small companies can run with small number of projects. Competitive Pressure - Sellers of the Substitute Products: There is no perfect substitute for the apartments. Although some of the companies like Pink City Xenovellly and BDDL are offering duplex villa, which to some extent are substitute for apartments. So the pressure for substitute product is almost nil.

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Competitive Pressure - Supplier bargaining Power and Supplier-Seller Collaboration: Supplier bargaining power is different for different kind of materials in the industry. Because normal raw materials (like sand, brick, stone chips, bamboo, plane sheet, wood etc.) have many suppliers. So their bargaining power is less. But some special type of materials like rod, cement, lift etc. have

very small number of suppliers. So these suppliers have strong bargaining power. Hence as a whole it can be said that in the industry the bargaining power of supplier is moderate.

Competitive Pressure - Buyers Bargaining Power Buyers in the industry include: individuals of higher middle and higher class of people of the society. According to Real Estate and Housing Association of Bangladesh (REHAB), there are more than 800 registered real estate companies working in Dhaka city. So there are so many companies now. Buyers can choose out of them. Hence the buyers bargaining power is high.

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SUBSTITUTE PRODUCTS

Competitive pressures coming from the attempts of companies outside the industry to win buyers over to their products

Moderate
SUPPLIERS OF RAW MATERIALS, PARTS, COMPONENTS, OR OTHER RESOURCE INPUTS

Low
Rivalry among Competing Sellers Competitive pressures created by the jockeying for better market position, increased sales and market share and competitive advantage- High

Competitive pressures stemming from supplier bargaining and supplier-seller collaboration

High
Competitive pressures stemming from buyers bargaining power and buyer-seller collaboration

BUYERS

Competitive pressures coming from the threat of entry of new rivals

Low

POTENTIAL NEW ENTRANTS

Figure: Porters Five Forces Model of competitive analysis

Does the state of competition promote profitability? The stronger the forces of competition, the harder it becomes for industry members to earn attractive profits. Here the collective impact of these Porters five forces of competition is immense. Except for buyers bargaining power and pressure from substitute products are less, the other three factors of competition are creating huge pressure on the industry members. For example for the pressure from the buyers and competition among themselves forced the companies in the industries to enhance their number of projects and lower the costs of operations as much as possible to provide best kind of apartments to the buyers for low cost.

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Industry Driving Forces: Industry conditions change because important forces are driving industry participants (competitors, customers or suppliers) to alter their actions. The driving forces in an industry are the major underlying causes of changing the industry and competitiveness. Some driving forces originate in the macroenvironment and some driving forces originate from within a companys immediate industry and competitive environment. The dominant driving forces of real-estate industry with their features are described below~ Growing use of Internet: In the real-estate industry in Bangladesh, usage of Internet for the purpose of communication and business is still in a primitive stage. Many prominent firms in the industry have their maximum customers in abroad. These customers are expatriates. To enhance the customer base in foreign market as well as in Bangladesh, companies need e-commerce base. But at the moment companies use their Internet only for providing information through their website and giving e-mail to prospective customers.

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Increasing globalization In this industry the cost of products i.e. apartments are such that it is very tough for a normal Bangladeshi earning people to buy one for him. Business people, higher level private employees and government employee with illegal earning and pension can buy an apartment. So companies have to look for their customers in abroad. Normally expatriate Bangladeshis have much higher

earnings than the Bangladeshi people. In the way, companies have to globalize in search of customers in the markets where there are considerable number of Non Resident Bangladeshis live.

Changes in the long-term industry growth rate

People in the country and especially in the Dhaka city are growing. People need housing solutions. Apartment industry is providing housing solution to some extent. For the housing need of the people this industry is bound to grow in future. So long term industry growth rate is high in the industry.

Changes in who buys the product and how they use it

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The apartments are normally family dwelling place. But now-a-days, for the pressure of space, usages of apartments are changed a bit. In recent days apartments in important areas are used as office space and sometimes for temporary school, college and even university campus. So those who use the

apartments for office and related purposes, their requirements of space are different than normal dwellers.

Product Innovation The product is here apartments. But there are a number of ways to adornment the apartments. A sober finishing touch can change the whole scenario. The internal fittings and finishing touch and also outer look of the building can give the apartment a completely special appearance. Every apartment can be made different according to the needs of the customers and by means of aesthetic idea of the architects.

Technological change

Technology is changing in the industry gradually. First change came in the scaffolding. Steel is used for scaffolding in place of bamboo. Then change came in case of concrete mixing. Hand mixing is replaced with machine mixing.
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Afterwards mixing plant is used. Concrete is mixed in the plant, carried to the projects in liquid condition with special manner and then pumped to the specified place with hose pipe. This innovation No real technological change is.

Marketing Innovation In the industry competitive advantage is driven more by sales and customer relationships than by manufacturing or product innovation. If a company can roll over its investment again and again by selling their products quickly it can gain swift market share. Diffusion of technical know-how across more companies and more countries Knowledge diffusions in this industry occur in scientific and normal journals, on site tour, word of mouth among suppliers and customers and above all by the migration of employees. So in real-estate industry the companies should be very precise about how much information they would share to the Internet, customers, suppliers and even to the employees.

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Changes in cost and efficiency Widening or shrinking the cost advantage over other companies often creates a driving force in the industry. In the real-estate industry, companies improved a lot by their innovative and timely construction approach. As a result, people leaned towards them who can give better apartments with better costs.

The market position of rivals: The best technique for revealing the market position of the industry competitors is strategic group mapping. A strategic group is a cluster of firms in an industry with similar competitive approaches and market positions. Strategic group mapping is a technique for displaying the different market or competitive positions that rival firms occupy in the industry. In this case study a strategic group map is drawn. Here price (low and high) and degree of services offered (no-frill, limited and full) are taken as the two competitive characteristics. Then the strategic group map is plotted using the competitive characteristics. After that assign the firms in the same or different strategic group according to their characteristics. Then the market share of companies are taken from the REHABs data. Even the

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REHAB is not sure whether the data are 100% accurate or not. The market share of the companies are as follows: Asset Developments and Holdings Limited 25%. Eastern Housing-18% Concord-16% Assurance-12%

Price/Quality

Building Technology & Ideas Ltd. 7% Tulip 4% Others-10%


EASTER N HOUSIN G

High

Sheltech-8%

ASSET
BTI

CONCORD

Low

OTHER S

ASSU RANC E

SHELT ECH

No Frilled 21

Limited

Full

Figure: Degree of services offered

From the strategic group map above the following market conditions can be understood~ Asset provides almost the full services along with high quality. Asset is the major market shareholder in the industry. Tulip provides medium service with lower price than Asset. Both Eastern Housing and Concord provide medium service with medium price/ quality range. Most of the new companies do not provide expected service and do not maintain required quality in the industry.

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Strategic moves that rivals are likely to make next From the discussion above the future moves of the rivals of Tulip Peroperties Limited. can be predicted as follows: - Rivals are likely to merge to survive in critical condition. - Competitive advantage through cost reduction. - Expand geographic coverage to expatriate Bangladeshis. - Serve consumers with guaranteed customer services -Lower cost by sharing resources, technological know-how and using same production facility.

Key Success factors (KSFs) for the future competing success Technology related KSFs: To be successful in future, the organization need to have experts in innovating new technologies. Proven ability to improve construction process where advancing technology provides the way for higher manufacturing efficiency and lower construction costs. Tulip has got a tested manpower who can give them sustainable competitive advantage.

Manufacturing related KSFs: Tulip started its business in 2005. But the organization proved itself a quick learner. It survived strongly in the
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competitive industry and consequently made themselves the best apartment producer in the country. Its learning curve is much higher than the other industry contenders. This learning curve helped them to flourish in the industry very quickly within 04(four) years.

Marketing related KFSs: Tulip clearly gave emphasis on the marketing and creating a brand name among the apartment buyers. Tulip targeted the customer segments who might become the prospective clients in future. The example can be given by successful advocate in sub-urban

area. Tulip targeted these kinds of people through their simple gifts. Thus Tulip became known to its targeted customers. On the other hand, Tulip

for their land procurement keep close relationships with the potential landowners and make them their working partner.

Skill and capability related KFSs: Tulip has got skilled work force, strong supply network, design expertise, shortest delivery time (as per agreement), supply chain management capability and strong administrative capabilities that has made it a well contender for future leadership in this industry. Actually Tulip is well prepared for future challenges.
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Industry attractiveness and its prospect: If the following two graphical results are analyzed, the future prospects of the industry can be predictable.

Apartment Sold per year


350 300 250 200 150 100 50 0 1 2 3 Year 4 5 54 83 105 215 Number of Sold Apartment 300

From the analysis of the industry it is seen that the sales of apartments increased gradually from 2007 to 2008 and after 2008 it had a sharp increase up to 2009. In 2006 the number of apartments sold decreased due to political and economic

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instability of Bangladesh. So it appears that if Bangladesh Government continues its anticorruption program, then the customers of apartments would be reduced. Because most of the people buy apartments with illegal money. And the previous government gave an opportunity to buy apartments and lands with the following rule: If someone gives 7.5% tax when he or she buy land or apartments, government would not ask about source of income. The new caretaker government abandoned the rule. Hence the future of the industry depends on political and economic conditions of the country.

4. Analyzing Companys Resources and Competitive Position

To analyze the competitive position of a company following five factors: Performance of the companys present strategy Companys resource strength and weakness and its external opportunities and threats Competitiveness of companys price and cost. Strength of the companys Competitive Position Strategic issues & problems merit front-burner managerial attention

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The five factors are considered in relation to the company here and give an idea what competitive position the company is holding.

4.1 Performance of the companys present strategy: The stronger a companys financial performance and market position, the more likely it has a well-conceived and well-executed strategy. To have a clear picture of companys present strategy, the financial performance, growth and market position are analyzed with the following indicating factors~

Growth in Sales Revenue: The sales revenue can increase even if the number of flats sold remain constant. Because, the price of the apartments are increasing year by year. But in case of Tulip properties Limited, the number of apartments sold are also increasing. They target a 10% growth in sales every year. They achieve even more than 10% increase in actual sales. Hence their sales revenue are increasing day by day.

Acquiring New Customers:

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Tulip properties Limited acquire considerable number of new customers every year. Buyers of apartments are normally one time buyers. So, Tulip has to look for new customers every year. They make a link with old customers and create new customers from the references of their old customers. From the trend of apartment sales in Tulip, it is observed that more than 50% customers are new customers every year. So, Tulips customer group is getting larger day by day.

Growth in Market Share: There is no specific data for growth in market share of the real-estate industry. But it can be assumed by the number of projects running for each prominent firm in the industry. The number of projects running:

Name of the Developer Tulip Properties Limited Dom-Inno Developments Assurance Sheltech (Pvt.) Limited

Number of projects running 2009 50 100 55 59

Number of projects running 2010 100 150 67 75

So from the above table it is clear that Tulip is the market leader in apartment selling busyness. Tulip beat their rivals by a huge margin.

Improved Internal Performance:

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Tulip properties Limited developed an improved strategy to survive in the competitive market. To implement the strategy, Tulip properties Limited developed some basic ability which in the long run became their core

competency and distinctive competency. The improved internal performances are~

Just-in-time inventory. Higher employee productivity. Shortest delivery time. Better quality products.

Financial Performance Analysis (Tulip Management Ratio): From the definition of Asset Turnover Ratio Total Asset Turnover can be defined as Total operating revenues divided by Total average asset. The ratio is intended to indicate how effectively a firm is using all of its asset. If the asset

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turnover ratio is high, the firm is presumably using its assets effectively in generating sales. All the asset turnover ratio is above 2. That indicates its operating revenues are more than double its total assets.

Total Asset Turnover Ratio

3 2 1 0

Turnover Ratio

Total Asset

Series1

2005 2006 2007 2008 2009 Year

Financial Performance Analysis (Inventory Turnover Ratio): Inventory turnover ratio is found by dividing cost of goods sold by average inventory. Another term called days in inventory is measured by dividing Days in period (normally days in a year) by inventory turnover ratio. From the graph it is seen that inventory turnover ratio is increasing that means days in inventory Inventory Turnover Ratio is decreasing year after year. 140.00 120.00 100.00 80.00 60.00 40.00 20.00 0.00 2005 2006 2007 2008
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Ratio

2009

Inventory Turnover

Year 2005 Inventory 66.82x Turnover Ratio

2006 64.62 x

2007 2008 2009 79.72 112. 115.7 x 12x 0x

Financial Performance Analysis (Debt Management Ratio): The debt ratio is calculated by dividing total debt by total assets. Debt ratio provides information about protection of creditors from insolvency and the ability of firms to obtain additional financing for potentially attractive investment opportunities. From the graph it is seen that Tulip has Dept Ratio below 50.00% 50%. That means it has sufficient amount of own assets and it can take attractive 40.00% opportunity form market by taking loans.

Debt Ratio

30.00% Debt Ratio 20.00% 10.00% 0.00% 2005


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2006 2007 2008

2009

Year Debt Ratio

2005

2006

2007

2008

2009 42%

42.30% 35.27% 35.07% 41.33%

Financial Performance Analysis (Profitability Ratio): Return on assets (ROA) describes the ratio of Net income and average total asset. From the graph it is seen that the return on asset ratio decreases at the

ROA

25.00% 20.00% 15.00% 10.00% 5.00% 0.00%

initial stage because of the investments of the firms made to increase market share in different markets. Then in 2003 the firm came to a stable position and Return on assets increases.

ROA

2005

2006

2007

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2008

2009

Year ROA

2005

2006

2007

2008 9.21%

21.23% 14.52% 15.93%

2009 13.72 %

Financial Performance Analysis (Profit margin on Sales Ratio):


The ratio is defined as the ratio of net profit divided by the total sales revenue. As like as all the ratios the profit margin on sales was higher in 2005 and decreased up to 2009 and in 2008 and later it increased gradually.

Profit Margin on Sales

10.00% 8.00% 6.00% 4.00% 2.00% 0.00% 2005


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Profit Margin on Sales

2006 2007 2008 2009

Year Profit Margin

2005 8%

2006 6.6%

2007 6.83%

2008 4%

2009 6%

REHAB Fair-2009:
The biggest housing fair in Bangladesh has just ended in January 09, 2010 organized by Real Estate & Housing Association of Bangladesh (REHAB). Total 262 REHAB members and 6 Financial institutions participated in 9th REHAB fair. The 5 days REHAB exposition at Dhaka Sheraton Hotel was crowded by a large number of visitors and potential customers of different income bracket. REHAB organized that fair anticipating orders worth taka 1000 crore from it. Though they could not reach their expectation but they have dealt orders of taka 450 crore at the end of the fair.
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Customer Analysis:
It was an auspicious opportunity to get huge customer information in the fair. We got an opportunity to make a competitor analysis also. Meeting with a large number of customers, we came to know their need, want and demand along with their preferred location, apartment specification. Here we like to enlarge on two specific points Customer Query Customer Response

Customer Query:

From our interaction with customer, we found that people mainly prefer apartments in downtown areas like Mirpur, Uttara, Mohammadpur etc. rather than posh areas like Banani, Gulshan, Dhanmondi. We have noticed that customers are mainly focusing on some specific factors like.

Apartment Size: Most of the people are asking for medium sized apartment
(1200 to 1500 sft).

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Environment: Customers are seeking for a good surrounding environment


considering green view, road side, parking facilities. Some customers show negative approach towards commercial + residential apartment.

Feature & Amenities: customers consider seriously about the feature and
amenities of apartment like raw materials, fittings, architectural design, and internal design.

Customer Response:

In the fair we got huge positive response from the customer. Among our project, we found that people show great interest on Tulip Modhubag, Tulip Maria and Tulip Zinnat Home which are mainly located in downtown area. We also got almost similar response to Tulip South Breeze, Tulip Moonlit, Tulip Moni Center( Comm.).

Another remarkable fact was, people were really interested on the Coxs Bazar project that is Tulip Coxs Marion. A huge number of people are interested in Studio Flat in Coxs Bazar.

SWOT Analysis:
SWOT Analysis is a marketing term by which any organization can draw their position in the market very easily. We can find the

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Strengths,

Weaknesses,

Opportunities

and

Treats

of

an

organization.

Strengths:
Visionary, capable leadership of management. Flexibility and responsiveness in taking necessary steps. Dedicated employees and work force. Apartment size variation. Meeting customer need of both residential and commercial apartment. Maintaining the time frame.

Weaknesses:
Very low market share. Insufficient promotional activities. Lack of professionalism of sales force. Limited number of projects.

Opportunities:
Increasing number of customers.
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Customer segmentation.

Threats:
Intense competition in market. Choosy customer. Increasing cost.

Findings:
i. ii. iii. Number of projects is not sufficient to meet huge customer demand. Insufficient promotional activities. Information giving in brochure is not sufficient.

iv. v. vi. vii.

The fair was crowed by the customers mostly from middle class. People are preferring apartment in downtown areas rather than posh area. Most of the people are asking for mid size apartment (1200 - 1500 sft.) Customers are seemed to be choosy about surroundings apartments. and feature & amenities of

viii.

Lack of proper competitor analysis.

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ix. x. xi.

Lack of projects in demanded area. Insufficient brochure of the project. Projects in Dhaka city has more demand rather than outside of Dhaka.

These problems along with solutions are as follows1. Problem: Continuation of its Direct Selling Model Method along with

enlargement of business. Solutions: New International Market Development, Diversification through Merger and Acquisitions, Broadening the product line, Stay on the leading edge of technological know-how, Market Penetration and Pursue Associated Services Growth.

2. Problem: Increased competition. Solutions: More cost reduction in value chain by the participation of suppliers, Low cost standardized product and keeping close contact with retailers. 3. Problem: Centralized (Single-handed) decision-making

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Solutions: Empower employees gradually, relate the performance of the top management with minor profit sharing and also sharing loss to create responsibility and decision making capability. xii. At last but not the least we have provided some contingency plans (if our suggested strategies will not succeed for some external or internal reasons) for successful survival of the firm.

Recommendations: I. selling proposition (USP) II. brochure is necessary. Some promotional activities should be taken It is essential to train up the sales force It is better to have some competitive analysis. V. Increase the quality and information of It is important to develop same unique

III.

IV.

6.Strategic Task Analysis of Tulip Properties Limited

Tulip properties Ltd was established in 2005 and has grown into one of the most successful residential, leisure and commercial developers in Bangladesh. The companys schemes are located in the most desirable and exclusive locations and the homes
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are built to a high quality specification that has become synonymous with the group. Driven by a passion for excellence, luxury and determination to deliver homes to its customers as quickly as possible, the company is working closely with contractors and providing the necessary support mechanism to deliver quality and timely completion of projects.

The company is taking every step towards safeguarding its customers interest. TULIP Properties manage all their projects from start to finish, the companys diverse range of expertise allows them to control land purchase activity, appointment of architects and designers, construction and sales and after sales service. In addition to support services provided by their DHAKA Head Office, the companys comprehensive Customer Care Program provides solutions through its vast regional network with offices in Bangladesh and abroad.

Mission, Vision, Strategy


TULIP of tomorrow will become synonymous to "Quality Lifestyle Across Bangladesh. Our vision for Tulip is its transformation into one of the most valuable lifestyle developers in the country beyond real estate development. To become one of the most valuable companies in the country, TULIP will adopt a strategy of business segmentation to create different business clusters functioning as different growth engines. These growth engines will grow and converge into a single entity known as "The Tulip Properties Ltd". Respects considering the following criteriaHighest quality Leading technology

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Competitive pricing Individual and company accountability Best- in-class service and support Flexible customization capability Superior corporate citizenship, financial stability Tulip has successfully implemented their strategy to fulfill their mission. They have satisfied their customers with their products and service and made their product a brandDells Vision:

HR Practices:
Tulip developed the following human resource practices in order to enhance their performance of output. Direct Relationship built on Trust.

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Corporate environment based on Meritocracy, Personal Achievement and Equal Access to all available opportunities. Best practices in Policy development, Training, Recruitment, Mentoring, Development, Advancement and Culture Change.

Tulips R & D Practices & Corporate Governance: R & D Practices: Track & Test: Tulip at first track the best opportunities and test them whether it fits with the products of Tulip. Global Presence Widely diverse range of ideas and employee skills.

Extremely broad understanding of global customer needs. Global supply network improves quality, lowers cost. Affordable technology to new and emerging markets Innovation Facility Around the Globe. Corporate Governance & Ethical Issues: Ethics & Values Trust, Integrity, Honesty, Judgment, Respect, Managerial courage and Responsibility.

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Role of Board of Directors Majority of Directors are independent. They have the right to veto in any issue. Role of Management.

Conclusion:

Tulip Properties Ltd. is a full service real estate developer located in Bangladesh. Our team of Realtors specializes in helping clients buy and sell residential properties throughout the country. The agents at Tulip are experienced, friendly, and honest.

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