Managerial Functions of Asset Development (Pvt) Limited

Asif Mahdi Id: 1320115030Rafid Aziz Id: 1330013630 Wahid Riffat Id: 1310676630

Introduction:

• The real estate sector is one of the fastest growing sectors of Bangladesh• About 34% of the people of Bangladesh will live in urban areas and this figure will be 50% in 2025 • A high demand of plots, residential and commercial buildings exists in major cities. •Asset Development (Pvt.) Ltd. is a top Real Estate and Housing Industry of Bangladesh, established in 1984 •The team at the firm comprises of over 500 professionals• Additionally, a well-trained force of 5000 workers is also employed•Due to its excellent quality control, it has achieved the ISO 9001: 2008 certificate

Strategic Objectives:• The Vision is to be a renowned Real Estate Developer creating maximum value by providing quality by providing quality homes and business.

• The Mission is to build and develop high standard and environment friendly residential and commercial buildings & Land Projects at affordable prices

• The Strategic Objectives are to create exceptional places through: Innovative Planning & Design Solutions, Leadership & Initiative, Best Business Practices, and Environmental & Social Responsibility.

Management Style:

• The core management team:

1. Chairman - Mr. Wahid Riffat

2. Managing Director - Engr. Radin Hoque 3. Director Finance - Mr. Rafid Aziz 4. Director Development - Mr. Asif Mahdi 5. Director Engineering - Engr. Shamimur Rahman

• The core team guide, supervise, encourage over 500 professionals, architects and engineers of the firm

• A task and a specific time period to accomplish the task both are specified on the basis of Asset Development’s capabilities.

• Asset Development is committed to help solve problems, enhance productivity and improve customer satisfaction through cost-effective application of skills and modern technologies in the planning and urban-rural development sectors of the country.

Management style of Asset Development

• The firm works for human resource development through appropriate knowledge, skills, abilities and personal attribution

• A healthy environment has been created where employees enjoy working with pride. Asset Development ensures health and safety in the workplace.

• The firm motivates its employees through promotion, foreign training, salary enhancement, bonuses. In addition, it provides various welfare schemes to its employees, and social and cultural activities for the employees regularly.

SWOT Analysis

SWOT Analysis, Porter’s Generic Competitive Strategy and Synergy:

Strengths

• Highly competent management team

• Highly diversified workforce in expertise and specialization

• Talented and dedicated professionals

• A values driven corporate culture •Good financial control and stability

Weaknesses

• Only a local company

• Lack of experience in internal investment

• The business model lacks integration

Opportunities • Booming economic growth • Increasing economic relations of Bangladesh with foreign countries • Investment incentives for foreigners by the government • High demand from growing population with rising income and non- resident Bangladeshis• Shortage of supply of quality residential and commercial buildings.

Threats • Inadequate and costly land

• High increase in overall prices of building construction materials

• High rate of interests

Porter’s Generic Competitive Strategies • With proper planning, innovative design, smooth flow of funds, timely completion of projects, Asset Development has been capable of reducing the prices of the developed facilities.

• Asset Development has been committed to quality construction, providing special amenities for clients and dedicated after sale services of the products.

Synergy • Market Synergy

• Cost Synergy

• Technological Synergy

• Management Synergy

Corporate Social Responsibility (CSR) Practices:• Asset Development promotes its Corporate Social Responsibilities on a wide scale.

• It honors one or two eminent personalities each year

• It regularly contributes in social and cultural events of educational institutes and clubs.

• It also consistently helps to rehabilitate victims of natural calamities.

• It is also engaged in some others social and cultural activities.

Conclusion :• The real state sector is growing rapidly due to rapid urbanization• The main goal of Asset Development (Pvt) Limited is to provide quality housing to the deserving customers at affordable price with all modern facilities ensuring protection and enhancement of the local environment. • It is run by a core management team of five renowned professionals and has a strong pool of talented and dedicated professionals • The firm employs the modern tools of management such as SWOT analysis, Porter’s generic competitive strategy and synergy. • It practices corporate social responsibility on a wide scale. • The firm has earned good reputation and should strive for further improvement through application of appropriate management system