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7/21/2019 Final Report- Term Presentation
http://slidepdf.com/reader/full/final-report-term-presentation 1/19
Evolution of Square
1925: Samson H. Chowdhury, founder of Square Group and pioneer ofpharmaceutical industry in Bangladesh was born to a physician father and
housewife mother in Pabna.↓
1952 !r. Chowdhury "oined his father#s pharmacy and recei$ed idea tomanufacturing medicines in Bangladesh, instead of importing.
↓
1956 !r. Chowdhury started his %rst business $enture by opening smallpharmaceuticals company called &sons in Pabna.
↓
1958 !r. Chowdhury found Square Pharmaceuticals 'imited, (agship companyof Square Group along with three partners with capital of )s. *+,.
↓1964 Square Pharmaceuticals 'imited was con$erted to a limited company.
↓
1974 Square Pharmaceuticals 'imited participated in technologicalcollaboration with Belgian subsidiary of -ohnson and -ohnson /S01.
↓
1982 Square Pharmaceuticals 'imited signed licensing agreement with 'a2)oche Swit3erland1.
↓
1985 Square became leader in mar4et share among all domestic and
multinational pharmaceutical companies of Bangladesh.↓
1987 Square Pharmaceuticals 'imited became %rst Bangladeshi pharmaceuticalcompany to e5port.
↓
1988 Square Group $entured into a new business by setting up Square 6oiletries 'imited, a manufacturer of cosmetics and toiletries products.
↓
1994 Square Pharmaceuticals 'imited became a public limited companythrough 7P8 process.
↓
1994: Square 6oiletries 'imited became a pri$ate limited company, ultimatelygoing on to become largest domestic manufacturer of cosmetics and toiletrieswith 9 brands and :: products.
↓
1995 Square Pharmaceuticals became self2reliant with raw materials by settingup 0cti$e Pharmaceuticals 7ngredient 0P71 factory.
↓
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1997 Square Pharmaceuticals 'imited won ;ational &5port 6rophy.
↓
1997 6argeting di$ersity in business, !ediacom 'imited an ad$ertisementagency1 was founded.
1997 Square entered the hugely lucrati$e te5tile<garment sector by setting upSquare 6e5tiles 'imited, a yarn manufacturer with capacity of producing =,4g yarn per day.
↓
1998 6argeting di$ersity in business, Square Securities !anagement 'imited, acapital mar4et bro4erage house was founded.
↓
2000 Square >arns 'imited, Square >arns 'imited, another yarn manufacturingplant was set up.
↓
2001 ;ot satis%ed with being only in$ol$ed in bac4ward lin4age, Square Groupdecided to e5port ready2made garments directly by setting up Square ?ashions'imited, a readymade 4nitwear manufacturer and e5porter. 6his factory currentlyemploys @,9 wor4ers.
↓2002 Sensing huge opportunity in 76 software sector, Square 7nformati5 'imitedwas set up.
↓2005 Saba3pur 6ea Company, an organic tea manufacturing company was setup.
↓
2005: Square Pharmaceuticals 'imited started manufacturing plant complyingwith /S ?A0 and / !H)0 requirements.
↓
2006 Square Group set up a state2of2the2art hospital in Aha4a called SquareHopitals 'imited to pro$ide world class ser$ice to patients of the country.
↓
2011: Square Group made another huge achie$ement went !aasranga6D the%rst HA 6 channel in Bangladesh went on air.
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Evolution of Beximco
1976: ?ounded by 0hmed Salman ?. )ahman and 0hmed Sohail ?. )ahman, butoperations started much later on.
↓
1976 7?7C Ban4 was setup between pri$ate and go$ernment sponsorship.
↓1980: 8perations of Be5imco Pharmaceuticals 'td. started.
↓1993: Be5trade 'imited was started as a corporate tra$el agency, operating as
a sister concern of the Group
↓1994: Be5imco 6e5tiles 'td. was established as a public limited company
↓1994: Be5imco Synthetics 'td. was established to produce Polyester ?ilament
>arns, namely, Partially 8riented >arn P8>1 and Araw 6e5turi3ed ?ilament >arnA6?>1
↓1995: Be5imco 6e5tiles 'td. started commercial operations after issue of public
shares and debentures.
↓1997: Shinepu4ur Ceramics 'td. was registered for business as part of Be5imco
Group.
↓1998: Shinepu4ur Ceramics 'td. commissioned its plants for production
↓1999: Shinepu4ur Ceramics 'td. started producing Porcelain tableware and
Bone China.
↓1999: Shinepu4ur Ceramics 'td. started producing Porcelain tableware and
Bone China.
↓
2009: Started Be5imco Petroleum 'imited with land acquired in Ga"aria,!unshigan" with processing plants planned for production.
↓2010: 0cquired a :E sta4e in /nique Hotels and )esorts 'imited, who operate
the 6he Festin Aha4a
Business!ro"uct #iversit$: Square
@
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Square !%armaceuticals:
Below are their products according to &%era'eutic class an" t%eir su()classes:
•
0limentary Preparations
• 0nesthetics0nti2asthma
• 0nti2erectile dysfunction agent
• 0nti2obesity Preparation
• 0ntiallergy Preparations
• 0ntibiotic Preparation
• 0ntibiotics
• 0ntidiabetic Preparations
• 0ntihaemorrhagic
• 0ntiparasite Preparations
• 0ntiseptic 0ntica$ity !outhwash
• 0ntiulcerants
• 0romatase 7nhibitor
• Bone Calcium )egulator
• Cardio$ascular Preparations
• C;S Preparations
• Aigesti$e en3ymes
• Arugs for /rinary 7ncontinence
• &ye and &ar Preparations
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• &ye PreparationsHaematinics
• Hair care product
• 'a5ati$e'ipid !odifying Preparations
• !usculo2S4eletal System
• ;S07As and 0ntigout Preparations
• 8ral 7n"ectable Preparations
• 8ral 0ntidiabetic
• 8ral Contracepti$e
• 8ther 0ntibacterials
• 8ther Beta2lactam antibiotic e5cept Penicillin and Cephalosporin
• Penicillin
• Penicillins and Cephalosporins
• Prolactin 7nhibitors
• Iuinolone 0ntibiotics
• )espiratory 6ract Preparations
• Systemic 0ntifungal, 0nti$iral and 0ntiproto3oal 0gents
• Systemic Hormone
• Systemic Se5 Hormone
• 6hyroid 6herapy
• 6opical Preparations
• itamins and !inerals
:
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• Fater Puri%cation
*er(al +,utraceuticals
6he therapeutic classes that are co$ered are
• 0nti2tussi$e &5pectorant
• Hepato2protecti$e
• C;S antidepressant
• 0daptogen 7mmunomodulator
• itamin mineral supplement
• Hematinic
• Gastrointestinal
• Hormonal etc.
•
-$urve"ic &nergy tonic, Aigesti$e health products, 'iquid $itaminsetc.• -.ro/et+ !estici"e 0groet Ai$ision, Pesticide /nit.
Square *os'ital
Square Hospitals 'imited is a Square Group concern hospital. Below aresome of their Core Ser$ices
!# Services
Medical consultation e5am rooms• Foreign2trained medical nursing specialists
!# Servicesn'atient acilities:
• 7C/, CC/, ;7C/, P7C/, CS7C/, S7C/
• 'abor and Aeli$ery /nit
• 8perating 6heaters
• Cardiac Catheteri3ation 'ab.
ritical are
• &mergency Cardiac Care Specialists
• 6rauma Surgery Specialists
• -ncillar$ Services :PathologyD )adiology and 7magingD Aiagnostic?acilities
Service Su''ort
=
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Square oo" + Bevera.es t"
Square ?ood Be$erage 'td. currently has three brands in the mar4et
a"%uni uc%i an" %as%i.
* is the )eady to &at snac4s brand of Square ?ood Be$erage 'imited
that comprises of• Chanachur
• ?ried Aal
• Banana Chips
• Potato Crac4er
• !uri, -halmuri
• Sauce
• etchup
• -huribha"a
• Peanut
• Chutney
• Pic4les
• Honey
a"%uni is the (agship brand of the company with product ranges• Basic spices
• !i5ed spices
• Cereals pulses based products
• &dible oil
%as%i is a new brand which has become the landmar4 of the productsthat
are directly collected from the farmers.
Square &extiles t"
7ts $enture comprises of
• Square nits ?abric 'td. anufacturin. Business: nit ?abricProduction1
• Square >arns 'td.
• Square ?ashions 'td. anufacturin. Business:)eadymade nit0pparel 1
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• Square 6e5tiles 'td.anufacturin. Business*E Cotton )ingSpun >arn for Hosiery1
Square &oiletries t"
Below are some of the products that are produced by SI/0)& 6oiletries 'td.
• -ui
• !eril Protecti$e Care
• !eril Baby
• !eril Splash
•
)e$i$e• Cha4a
• Chama4
• Senora
• ?reshgel
• Fhite Plus
• !agic
• ool
• Jpel
• Spring
• Sepnil
• Kerocal• Select Plus
• Sha4ti
• Saaf
• !adina
Square -ir imite"
Square 0ir 'imited oLers air ser$ices to meet all the tra$eling requirementsto cater all diLerent needs of
• 7Ps
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• C7Ps
• Corporate heads• 6ra$el agents
• 6our operators
aasran.a &elevision
0nother member of Square Group is !aasranga 6ele$ision, which is one ofthe leading satellite tele$ision channel in Bangladesh. !aasranga 6ele$isionis broadcasts accurate, time2honored and credible news as well asentertainment.
Some of the contents that are co$ered are
• Arama
• Serials
• ?ilms
• !usical programs
• &ducational
• &ntertaining programs for children
• Programs on women issues
• Comedy shows
• Aocumentaries
• 6al4 shows on current aLairs
• Business
• Sports shows
• 'i$e e$ents
• Forld news
Square nformatrix imite"
6he ser$ices pro$ided are
• Broadband 7nternet Ser$ices
•Corporate Aata Communication Ser$ice
• Software Ae$elopment
• Aisaster )eco$ery Ser$ice
• ;etwor4 Aesign and 7mplementation
• 9<+ Help des4
Sa(a'ur &ea om'an$
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e"iacom imite"
Business!ro"uct #iversit$: Beximco
Beximco &extiles
Bextex t":
• >arn Products
• ?abric Products
• nit Products
• Aenim Products
• Special >arn Products
• /nique Frin4le2?ree product
;ello<: 7ts product line includes a wide range of formal and casual wearsfor men, women, and 4ids.
Beximco S$nt%etics imite":
• Partially 8riented >arn P8>1
• Araw 6e5turi3ed ?ilament >arn A6?>1
=ute #ivision:
• -ute yarn and twine
• Si3ed, coated, dyed, and polished yarn<twine
Beximco !%armaceuticals
Below are pro$ided medical conditions for which Be5imco manufactures
pharmaceutical products
• 0llergic Aisorders
• 0nalgesics and 0ntipyretic
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• 0nti2infecti$es
• Cardio$ascular
• Central ;er$ous System
• Cough and Cold
• &ye Care
• &ndocrine and Aiabetes• Gastrointestinal
• 7ntra$enous ?luids
• !usclos4eletal
• 8ncology
• )espiratory
• S4in Care
• itamins and !inerals
• 8ther products
S%ine'u>ur eramics
• Porcelain2 Plain Porcelain,2 7$ory China,2 Satin China and2 High 0lumina Porcelain
• Bone China
eal Estate onstruction arine oo"s an" &ra"in.
eal Estate an" &ra"in.: Plot sales and property de$elopment in Aha4a
and Chittagong. 6rading operations include O
• capitali3ation on industry 4nowledge
• identi%cation of mar4et opportunities in acti$ely traded commodities
• >arn trading for capti$e use in te5tiles di$ision and sales to third
parties.
Beximco En.ineerin. t":
• )oads and railways
• Bridge and oLshore structure
• Power<gas transmission line sub2station
• Commercial and industrial
• 0partment
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arine oo"s:
• Shrimps to other sweet water %shes• Aeep sea %shing business• alue added production including ready to eat and ready to coo4
products
& an" E#-:
Ban.la"es% nline: 7nternet Aata Communication Ser$ices
n"e'en"ent &elevision t": 9 hr 6 news channel
&%e n"e'en"ent ,e<s'a'er: 6he 7ndependentQ is a leading &nglish
language daily newspaper in Bangladesh.
Beximco om'uters t": Software design and de$elopment specially
the ban4ing application software, system integration and software e5ports.
*S!&-&;:
nique *otel an" esorts t"
Bextra"e t": 0irline ser$ices including air tic4et of all airlines operating
to and from Bangladesh, worldwide tailor made pac4ages and hotel
reser$ations, incenti$e tours and organi3ing con$ention conference.
,-,- SE/ES:
Ban> t"
Beximco Securities t"
E,E?;:
Beximco !etroleum t"
Beximco !o<er om'an$ t"
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!ro@ection of involvement in international
(usiness: Square
!r. !d 0minul 7slam, Senior !anager, 7nternational !ar4eting, Square
Pharmaceuticals 'imited shared $aluable information with us regarding the
current situation and future
international business through opening foreign manufacturing subsidiary or
through foreign direct in$estment.
0ccording to !r. 7slam, Square is currently holding *NE mar4et share in the
domestic pharmaceutical industry worth /S R *.@ billion and en"oying *E
growth in domestic demand annually. 8nly 2:E of sales earnings of the
pharmaceutical company come from e5porting.
Square PharmaceuticalQs ma"or moti$ation to start e5porting was because of
competition in the domestic mar4et and to enhance company image in the
foreign mar4ets as there was negati$e international attitude towards
medicines produced in Bangladesh in de$eloped countries1.
Square Pharmaceuticals chose a strategy of %rst approaching foreign
mar4ets where rules and regulations and drug authorities are relati$ely more
(e5ible such as less de$eloped 0frican and 0sian countries eg. &thiopia,
/3be4istan etc. 0t the second stage, Square started e5porting to moderately
regulated but relati$ely more de$eloped mar4ets such as those in the 0S&0;
countries. ?inally they decided to enter strictly regulated but highly
de$eloped mar4ets such as /S0 and &uropean /nion &/1. Square recently
achie$ed /S ?A0 and / !H)0 certi%cation to e5port to those countries.
Square and Be5imco are only two local pharmaceuticals to ha$e /S ?A0
certi%cation. Howe$er square has not yet started to e5port medicines tothese de$eloped mar4ets. Currently !yanmar is the biggest e5port mar4et
for the company and total e5port re$enue is /S R *: million per year.
Currently Square Pharmaceuticals is using a local partner in each of the
foreign mar4ets. 6he partner is an importer who underta4es the
responsibility of meeting local regulatory requirements and to carry out sales
and mar4eting acti$ities in those mar4ets. Square pro$ides necessary
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documents to the partners to meet their respecti$e regulatory requirements.
6hey also pro$ide training to the mar4eting personnel of the partners to
enable them to mar4et Square products more eLecti$ely. 6hese personnel
then try to con$ince local physicians to prescribe Square products to their
patients.
0d$antages of ha$ing a partner<importer instead of direct mar4eting<selling
in foreign mar4ets
• !ain strength of Square is in manufacturing quality pharmaceutical
products. 6hey can focus on their strength while the partner ta4es
care of international mar4eting.• Square does not ha$e to deal with cultural diLerences in the foreign
mar4ets.• Square does not ha$e to monitor its international mar4ets strictly.
• Square ma4es a large amount of sa$ings in terms of distribution and
infrastructure costs.
Aisad$antages of not mar4eting directly in foreign mar4ets
• Partner is ma4ing large amount of pro%t by charging almost twice
amount charged by Square to their local customers. Square could
ha$e en"oyed this high pro%t if it operated directly in the mar4et.• Square is not ha$ing control o$er promotion strategy of the partner. 7t
is also not able to $erify if the partner is e5ploiting their domestic
mar4et to full e5tent by charging competiti$e price.• Square is not getting direct foreign customer feedbac4 to ma4e
necessary corrections.
0fter doing cost bene%t analysis of directly mar4eting in foreign mar4et
through own oce, Square decided it is not feasible. )ather they chose to
operate through the partner. Howe$er to mitigate some of the disad$antages
of wor4ing through partner, Square appointing Bangladeshi country manager
to each of these mar4ets to increase control o$er the partners and to
enhance mar4et intelligence.
Currently Square Pharmaceuticals is acti$ely considering opening foreign
production facility. Some of the ma"or bene%ts that they want to achie$e by
starting foreign production are as follows
• Square can increase sales and pro%tability.
• Square will face much less stringent regulatory regime if it decides to
produce in de$eloped countries as de$eloped countries impose much
stricter regulations for imports rather than on their local origin
products. ?or e5ample, if Square sets up factory in /S0, it will face
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much easier regulations than e5porting the same products from
Bangladesh to /S0.• Square will also be able to mar4et its products much easier in
de$eloped countries as association with negati$e image of
Bangladesh will cease to be a factor.•
Square can better ser$e its customers and foreign mar4ets can bebetter e5ploited through manufacturing presence.
• 'ead time of recei$ing order and pro$iding medicines to customer will
be reduced.• Square can reduce transport and distribution cost of medicines by
manufacturing nearer to mar4et.• Square can enter mar4ets where protectionist regimes e5ist by
opening manufacturing subsidiaries in those countries.• 8ther factors to support this decision include impro$ement in
technology and management 4now2how, achie$ement of geographical
di$ersity and satisfaction of managementQs desires for e5pansion.
Howe$er this in$ol$es some ris4s as well which include
• 6here may be political instability in the country where factory is set
up.• Huge in$estment is required to set up factory, especially in de$eloped
countries.• Square might ha$e to face ad$erse pro%t repatriation policies.
• Cost of raw materials can $ery high in certain countries eg. 8perating
in landloc4ed countries in$ol$ed high transportation costs for raw
materials.• 6here is hea$y competition in pharmaceutical industry of de$eloped
countries. Competitors are large and powerful.
Currently Square is acti$ely pursuing cost2bene%t analysis for possible
factory locations to determine which mar4et could oLer highest return and
lowest ris4s and ma4e in$estment decision accordingly.
0nother area where Square can seriously consider ma4ing foreign direct
in$estment is in the te5tile< garments sector. Aue to recent hi4e in garment
wor4er salaries, some of the cost ad$antage of Bangladesh in international
)!G mar4et has been diminished and cheaper alternati$es to Bangladesh
such as !yanmar and &thiopia are emerging rather quic4ly. ietnam is also
attracting much foreign in$estment in )!G industry due to disciplined
wor4force and peaceful political and social climate. 6herefore Square Group
can set up garments factory in such countries using e5perience and
e5pertise gained from domestic operations to ta4e ad$antage of reduced
cost and more ecient wor4force. Howe$er there is not much opportunity to
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set up te5tile or spinning pro"ect in foreign mar4et as this sector is
dominated globally by China and 7ndia.
6he other products under Square portfolio do not represent good opportunity
to go for foreign manufacturing. ?rom current situation and future
possibilities it can be understood that Square Group will need aroundanother ten years to go for foreign production in either garments or
pharmaceuticals industry.
!ro@ection of involvement in international
(usiness: Beximco
7nter$iew with !r. &3a3 )asool, former Farehouse !anager at Be5imco
Pharmaceuticals 'td. ga$e us an insight regarding the international business
that Be5imco does or could potentially be doing. 6he company dominates in
the Pharmaceuticals industry. Be5imco Pharmaceuticuals 'td. is the third
largest local pharmaceuticals company behind Square and 7ncepta at +.=E
mar4et share with R*@.N million in re$enue in 9*@1.&5port sales re$enue
was o$er RM.= million in 9*@. 6hey are the largest e5porters of
pharmaceutical products to foreign countries, around ::E of total re$enue.
Currently Bangladesh e5ports pharmaceutical products to M= countries,Be5imco e5ports to : of them. 6hey donQt ha$e any o$erseas operations as
in ?A7 or manufacturing plant. Howe$er, there is potential for opening up a
foreign manufacturing factory in other countries mainly due to the following
reasons
• 0round +E of raw materials used in pharmaceutical products are
imported from foreign countries. 7f Be5imco Pharmaceuticals were to
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open up a factory in the $icinity of its suppliers it would reduce a
ma"ority if their costs. 0lso delays in recei$ing raw materials are a
problem which will lead to delays in production.• &5porting to countries leads to potential losses in re$enue whereby
countries buying from Be5imco can easily sell those products at a
higher price in their home country.• 6)7PS or 6rade )elated 7ntellectual Property )ights agreement made
with Be5imco e5pires in 9*=, which e5empts Be5imco from patenting
their product which will increase their selling costs1 as they are from
a least2de$eloped country. 0fter that Be5imco will ha$e to patent their
products in order to sell them which will increase costs.
Be5imco Pharmaceuticals ha$e clearly targeted the following regions for
global e5pansion of their manufacturing capacity !iddle &ast, &uropean
/nion, 'atin 0merica, /S0, 0ustralia and ;ew Kealand. Ha$ing supplied
through e5porting of medicine to $arious renowned hospitals li4e )aTes
Hospital, Heathway !edical Group and FomenQs ChildrenQs Hospital inSingapore, !&AS and enyatta ;ational Hospital, enya, C&;0B'0S6 in
Chile, and 0sthma Arug ?acility 0A?1 of ?rance, there is strong scope for
in$estment in those countries to open up their own manufacturing plant. 6he
company is the largest e5porter of 0cti$e Pharmaceutical 7ngredients 0P71
and pharmaceutical products in Bangladesh with state2of2the2art
manufacturing facilities which are certi%ed by global regulatory bodies of
0ustralia, &uropean /nion, Gulf nations, Bra3il, among others. 6hey ha$e not
$entured out into the international mar4ets because of the following reason
according to !r. )asool
• 6he company is used to e5portingD they ha$e managed to build a
reputation as quality producers of medicine and are determined to
continue in that fashion locally.• 6rust issue is a big factor for Bangladeshi products in foreign
countries. !ost customers do not $alue Bangladeshi products in the
same $ein as they do with their own or other de$eloped countriesQ
products.• 'egal formalities are high and maybe dicult to meet with in some
countries where quality standards are maintained to the highest and
proof of genuineness is required to operate.
• Political issues are a big factor. Ae$eloping countries li4e enya wherepotential is high but infrastructure is not that good do not ha$e the
lu5ury of pro$iding proper political stability for foreign countries to
operate.
Be5imco 6e5tiles 'imited has a separate brand of clothing outlet named
>ellowQ which has garnered huge reputation all o$er Aha4a city with shops in
Bashundhara City, Gulshan, Bailey )oad and Ahanmondi. 0s such, they ha$e
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decided to e5pand their business internationally to Pa4istan by directly
opening up their >ellowQ brand of clothing shop in arachi, Pa4istan in
8ctober *M, 9:. Howe$er, e$en though they ha$e in$ested into a retail
outlet in another country it is not the same as opening up a factory in that
country so technically they still ha$enQt managed to do international
business in the proper sense that they are contributing to the output of theforeign economy. 6hey are e5porting all their clothes and selling to the
>ellowQ store in Pa4istan. 6here is scope for production in Pa4istan because
• 6hey ha$e garments industries themsel$es and the en$ironment is
de$eloped enough to ha$e opened up one o$er there.• Cultural similarities, both !uslim countries and mutually intelligible
languages2spea4ing, and both countries were part of the same history
throughout time.
)is4s of operating in Pa4istan include
• Huge political instability. 6errorist attac4s by militant groups cause
business disruption and harm to physical well2being. Pa4istan has
been on the recei$ing end of multiple terrorist attac4s o$er the years
leading to either businesses mo$ing o$erseas or closing down
altogether.• Competition in garments in Pa4istan is also renowned as there are
local competitors which earn :E of their re$enue from e5porting
garments to other countries.
?or now the company is thin4ing of operating as an e5porter while slowly
setting up outlets in Seoul, South orea, and Aubai, /0& and other citiesaround the world. ?rom there on they plan on studying the mar4et while
analy3ing the potential costs and bene%ts of opening up a manufacturing
facility in those countries.
References:*. U S I / 0 ) & 6e5tile 2 2 2 Square 6e5tile.U S I / 0 ) & 6e5tile 2
2 2 Square 6e5tile. 0ccessed 0pril *9, 9*:.
http<<te5tile.squaregroup.com<sqte5tile.html .9. U0bout /s.U Square Pharmaceuticals 'imited. 0ccessed 0pril 9*, 9*:.
http<<www.squarepharma.com.bd<about2us.php.
*M
7/21/2019 Final Report- Term Presentation
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