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Assignment on

Strategic Human Resource Management


Subject: Performance Management System of ACI
Limited
Course code: HRM-501

Submitted To:
Md. Mohiuddin
Professor,
Department of Management,
University of Dhaka

Submitted By:
Sourave Kundu
Id no: 162,
Section: A,
Batch no: 20th,
Department of Management,
University of Dhaka

Date of Submission: 19th November, 2018.


Introduction:
Performance management is the way toward making a workplace or setting in which individuals
are empowered to perform to the best of their capacities. Performance management is an entire
work framework that starts when a vocation is characterized as required. It closes when a
representative leaf your association. It incorporates performance evaluation, preparing and
advancement and different advantages. The purpose of this assignment was to find out how ACI
Limited manages it all employees to have better productivity to contribute to the business success.
Organization Background:
Advanced Chemical Industries (ACI) Limited is one of the leading companies in Bangladesh, with
a multinational heritage.
ACI was established as the subsidiary of Imperial Chemical Industries (ICI) in the then East
Pakistan in 1968. After independence the company has been incorporated in Bangladesh on the
24th of January 1973 as ICI Bangladesh Manufacturers Limited and also as Public Limited
Company. This Company also obtained listing with Dhaka Stock Exchange on 28 December, 1976
and its first trading of shares took place on 9 March, 1994. Later on, 5 May, 1992, ICI plc divested
70% of its shareholding to local management. Subsequently the company was registered in the
name of Advanced Chemical Industries Limited. Listing with Chittagong Stock Exchange was
made on 22 October 1995. Subsequently the company was registered in the name of Advanced
Chemical Industries Limited (ACI)
The trading subsidiary of ACI represents in Bangladesh principals like ici, exxon-mobile, bayer,
stahl and ici uniquema. Strategic business unit:
✓ Pharmaceuticals
✓ Consumer Brands
✓ Agri Business
✓ Crop Care & Public Health
✓ Animal Health

ACI has the following subsidiaries:


✓ ACI Formulations Ltd.
✓ ACI Trading Ltd.
✓ Apex Leather Craft Limited
✓ ACI Salt Limited
✓ ACI Foods Limited
✓ ACI Pure Flour Limited
Mission Statement of ACI:
‘ACI’s mission is to enrich the quality of life of people through responsible application of
knowledge, skills and technology. ACI is committed to the pursuit of excellence through world-
class products, innovative processes and empowered employees to provide the highest level of
satisfaction to its customers.’

Values of ACI:
✓ Quality
✓ Customer Focus
✓ Fairness
✓ Transparency
✓ Continuous Improvements
✓ Innovation
Analysis:
Performance appraisal is the way toward distinguishing and assessing worker performance to
ensure they add to the authoritative objectives. ACI's appraisal procedures are-

Paired Comparison:
It makes the positioning technique more exact. As per this procedure workers will be recorded in
every conceivable match for every quality (e.g. how much items are sold in multi week) and it
shows which is better of each combine. This is polished just for the sales representatives.

Performance Appraisal Form:


Every representative is given a frame which is filled in discussion with the manager to recognize
what are the requirements of the worker to build up his aptitude further not exclusively to play out
his obligation better yet in addition for assuming future liability.

Weekly Meetings:
The association orchestrates gatherings for workers consistently to survey their performance
consistently. The representatives share their issues and thoughts regarding work and other
employment related elements and the chiefs can have refreshes about how things are going ahead
in every segment of the association.

SWOT analysis:
Besides the management committee the employees also try to find out their strengths and
weaknesses within the organization and the external opportunities and threats they may face.

Scanning External Environment:


ACI frequently filters the outside condition for looking at comparative industry rehearses. ACI
reconsider the compensation and pay plans of them by looking at the activity offices given by the
contending firms. ACI rehearses it to build worker fulfillment and diminishing representative
turnover rate. This is primarily used to choose the compensations of representatives.

Employee Consultancy:
Specialists chat with representatives exclusively to think about their continuous work-whether they
are confronting any issues or anything. The advisors endeavor to make sense of if a representative
is confronting issue in working with colleagues or having issue in adjusting any new organization
arrangement. The experts likewise attempt to call attention to if a specific representative is happy
with his or her activity duties and performance.

Brainstorming:
Representatives mastermind brainstorming sessions to share their thoughts and learning about their
up and coming works. They additionally examine about their experience and issues of their current
works with one another.
In these sessions the representatives are given an issue and every worker thinks of various sorts of
arrangements of the issue and from every one of these arrangements the most achievable
arrangement is made a go of and workers all together begin to deal with that.

Balanced Score Cards:


ACI uses BSC for its all business units except the agro-based sector to measure their employee
performance.

Executives & Managers Appraisal:


MD, Directors and subordinates do this. This is a base best methodology of evaluation procedure.
In this examination procedure subordinates' execution influence directors' execution evaluation on
the off chance that a business supervisor is given an objective of offering ten thousand
pharmaceutical items in a single week then he would dole out his business administrators to
achieve this activity and in such case the chief's execution would rely upon how effectively the
business officials play out their occupations.

Survey for diversified workforce:


ACI is an equivalent open-door manager and it pursues the guideline of assorted variety in
enrollment, preparing and offering chance to its representatives for profession movement and
development. The organization has a blended workforce from all parts of the nation from various
religious foundation. The representative advantages bundle of the organization was produced with
the aim for the whole worker to approach his great of the ACI family. Ordinary overview is led to
see if expanded workforce is filling in as one single group.

Graphic rating scale:


This appraisal technique is to find out employees’ performance level. Employee who is the highest
or lowest on the characteristics are being measured. Each employee is rated in the scale of 1-9.

Succession Planning:
This procedure is directed to fill official positions. The representatives who demonstrate promising
execution are chosen and given satisfactory preparing and gave suitable advancement sessions to
enhance their dimension of ability and be qualified for the future officials. ACI favor in progression
arranging as opposed to enlisting administrators from outside due to its cost adequacy and it
requires less investment to hold the activity duties regarding current workers. The progression
arranging is additionally useful to create confidence among the representatives and they turned out
to be more devoted towards their work.
Findings:
After all these analyses we have found some information which are the key to the success of ACI
limited. They are-
➢ ACI consider its workforce the most valuable asset to the organization
➢ One of their missions is to achieve business excellence through quality by
understanding, accepting, meeting and exceeding customer expectations.
➢ They are continuously identifying their employee needs and performance and
according to them developing plans to improve the efficiency of their employees.
➢ All of their training, appraisal, and benefit packages are to maintain a happy,
productive and successful workforce.
➢ ACI Limited is committed to provide a working and social environment in which
the rights and dignity of all its members are respected, and which is free from
discrimination, prejudice, intimidation and all forms of harassment.

Conclusion of Analysis:
After all these analyses, we have come to the idea that- even though ACI have a big workforce
with more than 6500 employees, it successfully run the training programs for them by identifying
their needs during appraisal session. Which results in very low employees’ turnover rate and
powerful workforce.
Conclusion
Despite the fact that ACI confront a few issues like each other association, it figures out how to
manage the representative issues adequately which guarantees the workers' fulfillment and friends'
prosperity and thus has made the association one of the main organizations in our nation.

Recommendations
Our recommendations incorporate Preparing on Moral Conduct, Additional Therapeutic office and
Wellbeing and Wellbeing reward for specialists under the pharmaceutical unit, and all the more
preparing for broadened workforce to lessen the distinctions.
It is exceptionally difficult to recoup a destroyed picture caused because of exploitative practices
done by representatives. Strict estimates should be taken to determine what may incorporate
supporting different workers to express their protests on exploitative practices to the HR and
Administrator. Wellbeing safety measures are required where risky supplies are dealt with at the
pharmaceutical unit. A few workers are presented to various synthetic substances which may
present risk to representatives' wellbeing. This may should be taken into profound thought.
There has additionally been a considerable measure of situations where workers don't perform at
a similar dimension, they are assumed to in even probably the least difficult of errands. This is
basically credited to the absence of preparing given to the representatives. The preparation and
advancement of ACI for the representatives ought to be made more through and harder in manners
that makes all workers' execution same over the organization. This would help keep exhibitions
quantifiable by the upper administration which is critical in arranging.