TRANSCOM Originated with tea plantations in 1885, TRANSCOM today is one of the leading and fastest growing diversified business houses in the country employing over 10000 people. Not many industrial groups in Bangladesh can claim a history of continuous business pursuits stretching back over 125 years! Initially tea and later jute formed the backbone of the family business. Although these are still part of the activities and contributing marginally to the overall group turnover. Presently those early industrial ventures have moved over to businesses involving high-tech manufacturing, international trading and distribution, forming strong ties with a host of blue chip multinational companies. In recent years, TRANSCOM has emerged as the largest media house in Bangladesh. Companies & Associates • Transcom Electronics Ltd • Transcom Foods Ltd • Transcom Beverages Ltd • Transcom Mobile Ltd • Transcom Cables Ltd • Transcom Distribution Co. Ltd • Transcraft. Ltd • Bangladesh Electrical Industries Ltd • Bangladesh Lamps Ltd • Eskayef Bangladesh Ltd • Mediastar Ltd • Tea & Rubber Farms
Transcript
TRANSCOMOriginated with tea plantations in 1885, TRANSCOM today is one of the leading and fastest
growing diversified business houses in the country employing over 10000 people. Not many
industrial groups in Bangladesh can claim a history of continuous business pursuits
stretching back over 125 years! Initially tea and later jute formed the backbone of the family
business. Although these are still part of the activities and contributing marginally to the
overall group turnover. Presently those early industrial ventures have moved over to
businesses involving high-tech manufacturing, international trading and distribution, forming
strong ties with a host of blue chip multinational companies. In recent years, TRANSCOM has
emerged as the largest media house in Bangladesh.
Companies & Associates
• Transcom Electronics Ltd
• Transcom Foods Ltd
• Transcom Beverages Ltd
• Transcom Mobile Ltd
• Transcom Cables Ltd
• Transcom Distribution Co. Ltd
• Transcraft. Ltd
• Bangladesh Electrical Industries Ltd
• Bangladesh Lamps Ltd
• Eskayef Bangladesh Ltd
• Mediastar Ltd
• Tea & Rubber Farms
• Mediaworld Ltd
• Reliance Insurance Ltd
TRANSCOM ELECTRONICS LTD
Transcom Electronics Ltd (TEL) started its’ operation in 1993 by taking over PHILIPS
electronics and lighting business in Bangladesh. Today, the company is one of the leading
electronics and electrical company in the country, marketing and distributing Consumer
lighting, Consumer electronics, Home Appliances and Professional lighting products from
renowned brands through its extensive distribution and retail network.
Transcom Digital is the outlet started in the early 2005 through which TEL is retailing
products directly to end consumers in the metro and urban cities. In 2008, the company re-
introduced itself as “Transcom Digital” as a multi brand, multi-category retailer catering for
all Electronics, Appliances and IT products. Today Transcom Digital becomes the original
outlet of TEL responsible for sales and providing all TEL electronic/IT products to their valued
customers. Currently it is successfully running with 48 outlets throughout the country and
expects to increase the total outlet number eventually. Moreover TEL has a strong Corporate
Sales Team under Transcom Digital for direct sales to the corporate clients.
Through the Electronics & Appliances Distribution Consumer Electronics, Home & Domestic
Appliances from global brands such as Samsung, Philips, Whirlpool and home brand Transtec
are sold throughout the country via a nationwide dealer network. Currently there are about
165 electronics dealers covered under this network through which Transcom Digital is
retailing.
TRANSCOM FOODS LTD
Transcom Foods Limited (TFL) started its journey in 2003 as a franchisee of Pizza Hut, the
first International Chain Restaurant in Bangladesh, and went on to sign the contract to
become the franchisee of Kentucky Fried Chicken (KFC) in the year 2006. Both Pizza Hut and
KFC are subsidiaries of the world’s largest restaurant company Yum! Restaurants
International. In a span of seven years, TFL has opened 4 Pizza Hut and 7 KFC outlets so far
throughout the country.
Kentucky Fried Chicken (KFC) stands for high-quality fast food in a popular array of complete
meals to enrich the consumer’s everyday life. KFC strives to serve great-tasting, “finger
lickin’ good” chicken meals that enable the whole family to share a fun, uninhibited and
thoroughly satisfying eating experience, with the same convenience and affordability of an
ordinary Quick Service Restaurant. TFL successfully launched the flagship KFC on South
Avenue, Gulshan in September 2006. It has already won over the heart of the Dhaka crowd
with its great tasting food, high standard of hygiene, cleanliness, terrific interior and of
course excellent and affordable pricing. Following its enormous success in Gulshan, the
second outlet was opened in Dhanmondi in November 2008, and yet another in Banani in
December 2008. Most recently TFL has opened two outlets at Eskaton on February 2010 and
another one is in Paltan.
Pizza Hut, the first International Chain Restaurant in Bangladesh, opened its flagship
restaurant in 2003 at Gulshan in Dhaka. From the day of its launching Pizza Hut remains the
acknowledged leader of the Pizza Industry, evident from the continuous crowds the
restaurant successfully draws in. Pizza Hut has over 12,000 outlets across 100 countries.
Following its grand success in Dhaka, the Chittagong outlet was opened in September 2005.
The third Pizza Hut restaurant was launched in Dhanmondi, Dhaka in January 2008 and yet
another in Baily road.
TRANSCOM BEVERAGES LTD
Transcom Beverage Ltd (TBL) is the exclusive PepsiCo Franchisee for Bangladesh. TBL owns
and operates modern plants in Dhaka and Chittagong for bottling the renowned soft drink
brands such as, Pepsi, 7UP, Mirinda, Slice, Mountain Dew, Pepsi Diet and 7UP Light. The
company is emerging with the motto to deliver sustained growth in Bangladesh and move
towards dominant Beverage Company, delighting & nourishing every Bangladeshi, by best
meeting their everyday beverages needs & stakeholders by delivering performance with
purpose, through talented people.
2009 has been an amazing year for TBL, winning several spectacular awards as PepsiCo's
exclusive bottling partner in Bangladesh. For its' extraordinary and outstanding venture
through excellence TBL has been rewarded with several prestigious national and
international recognitions.
TRANSCOM MOBILE LTD
With a business heritage of 125 years, TRANSCOM has evolved and continues to evolve as a
diversified business entity to cater to the demands and needs for its customers, keeping the
trend of changing market scenario. TRANSCOM has now become the distribution partner for
the world famous brand SAMSUNG Mobile.
Transcom Mobile Limited (TML) is the TRANSCOM's latest venture into the Mobile Handset
business and the company is exclusively distributing Mobile phones to all over the country. It
started its' operation on 22nd June, 2010. At the beginning it operated nearly half of the
country and the resources was 35. At present TML operates nationwide as a single distributor
with trade marketing operation of SAMSUNG Mobile.
TRANSCOM CABLES LTD
Transcom Cables Limited is one of the largest conglomerates in Bangladesh has established
in July 2009 for manufacturing of cables, wires and Conductors. The company started its'
commercial production in May 2010. It's manufacturing domestic and commercial power
cables of international standards (ISO certified factory) under the Transtec Brand and is
currently marketing its product to electrical outlets in Dhaka region and to institutional
customers all over the country. The range of its products includes PVC insulated cables, PVC
insulated and PVC sheathed single core and multi core cables, control cables, flexible cables
etc. The different sizes of bare and insulated All Aluminum Conductor (AAC) and Aluminum
Conductor Steel Reinforced (ACSR) are also being manufactured here.
Schick, L'Oreal, Garnier, ConAgra Foods, McVities and Hemas. It started its diagnostic
distribution division in 1993 by distributing laboratory equipments and reagents from
Hettich (Germany), TREK Diagnostics (USA) and Fortress (UK). It also distributes crude oil and
oil products from Vitol. Basically TDCL has three distribution divisions:
TDCL-Pharma: For distributing quality pharmaceutical products
TDCL-Consumer Brand: For distributing world's best consumer products
TDCL-Diagnostic: For distributing diagnostic and clinical products
BANGLADESH LAMPS LTD
Bangladesh Lamps Limited (BLL) is the pre-eminent manufacturer of electric light bulbs in the country. The company has an exclusive licensing agreement with PHILIPS Electronics N.V. Holland, under which it manufacturers PHILIPS lighting products. BLL was incorporated in 1960 as a subsidiary of PHILIPS, Holland. In March 1993, PHILIPS sold its entire shares to TRANSCOM. The primary purpose of BLL is to produce and serve Philips GLS lamps (Classictone, Softtone and Anti-Insect types) & Transtec CFL and GLS lamps (Clear &Lustre types) around the country which are marketed and sold under the governance of Transcom Electronics Ltd (TEL) as lightening distribution and sales projects. Due to the necessity of cost effective electricity the TFL tech bulbs are populated and distributed more and more everyday around the country, BLL became one of the leading TFL bulb production houses.
Eskayef Bangladesh Limited (SK+F), a successor of Smith Kline and French in Bangladesh was
acquired by TRANSCOM in 1990, is one of the leading and fastest growing pharmaceutical
company of Bangladesh, which is engaged in the manufacture and marketing of a wide
range of therapeutic drugs, bulk pellets and animal health and nutrition products with
annual sales surpassing 60 million US dollars. With qualified, trained and skilled
professionals on its staff and its unswerving standards of quality control, the company has
distinguished itself as one of the most respected names in the pharmaceutical industry.
Eskayef is growing more global and exporting its products and bulk pellets 20 countries
across 5 continents i.e. Europe, Australia, South America, Africa and Asia. Eskayef is also
marketing eye care products of Allergan Inc. USA, the global leader in this special area. As a part
of business expansion, Eskayef has already submitted more than 200 registration dossiers in
15 new countries and another 8 countries are under registration pipeline. The company has
been providing contract and custom manufacturing facility for foreign pharmaceutical
companies. Currently it is contract manufacturing for two UK based and an Australia based
company. Eskayef also did contract manufacturing for one UAE based and a German
company.
MEDIASTAR LTD
Mediastar Limited is an affiliate, emerging electronic media and newspaper concerns within TRANSCOM group. The company is currently consist of the following media associates: Prothom-Alo, the largest circulated daily newspaper in the country, has established itself as a non-partisan, independent and respected voice in the field of journalism in Bangladesh. In the 10 years since inception, it has been the vanguard for social revolution with the slogan
(change self, change all). Consistently emphasizing the possibility of a better Bangladesh, the newspaper has been instrumental in numerous social initiatives. The Magsaysay Award in 2005 for the editor Matiur Rahman bears witness to the esteem the international community accords Prothom-Alo.
Media world Limited is one of the associates of TRANSCOM group consist of a renowned
English newspaper THE DAILY STAR.
THE DAILY STAR is the leading and most quoted English newspaper in Bangladesh. The
company also publishes the Bengali SHAPTAHIK 2000 a quality political and current affairs
weekly and ANONDODHARA, the premier film and entertainment fortnightly.
RELIANCE INSURANCE LTD
RELIANCE INSURANCE LIMITED was the fourteenth in line to start general insurance
business in the private sector. It is basically one of the associates of TRANSCOM group. The
Company was incorporated on 20th March 1988 and was allowed to commence business by
virtue of the Certificate of Commencement of Business issued by the Registrar of Joint Stock
Companies on 22nd March 1988. The Company obtained Certificate of Registration issued by
the Controller of Insurance on 7th April 1988. It was subsequently listed in the stock
Exchanges of Bangladesh in 1995. Currently it's employing 325 persons as regular employee
around the country.
True to their vision to become the premier insurance organization and the insurer of first
choice in Bangladesh with a sound reputation for dependability, professionalism and the
highest standard of customer services, it is working in the following areas:
• Underwriting of Fire Insurance
• Underwriting of Marine (Cargo & Hull) Insurance
• Underwriting of Motor Insurance
• Underwriting of Overseas Mediclaim & Holiday Insurance
• Underwriting of Miscellaneous Insurance
• Underwriting of Public Issue of Shares & Debentures
• Investment of Shares & Debentures.
Organization Chart
Need for Changes at Transcom
Without carrying out changes effectively it is very difficult to survive in the
competitive business environment. In these case Transom is not the exception form
it. It also has to carry out timely changes. Usually organizational change is
provoked by some major outside driving force, e.g., substantial cuts in
funding, address major new markets/clients, need for dramatic increases in
productivity/services, etc. Typically, organizations must undertake
organization-wide change to evolve to a different level in their life cycle, e.g.,
going from a highly reactive, entrepreneurial organization to more stable and
planned development. Transition to a new chief executive can provoke
organization-wide change when his or her new and unique personality
pervades the entire organization.
Phase 1:
The key objectives were to move to a system of market pricing and to reduce their
break-even point, both of which called for major reductions in costs—variable costs,
fixed costs, and interest costs. They used many approaches to cost reduction,
including bench-marking our rivals. For example, they took a part to see what they
could do to modify the products and to lower costs. In two and a half years, they
reduced the break-even from nearly two-thirds of capacity utilization to around one-
third, which meant that even if the market shrank by close to 60 percent, they would
still be in the black. The whole organization really got together to ensure that the
bleeding stopped.
One of the major drivers of success at Transcom was its ability to fully exploit
information technology to drive business goals and reduce cost.
Phase 2:
The concentration in phase one was indeed on cost reduction, but while this was
going on they thought about taking action in areas that would have an impact during
the other phases. For phase two, the concentration was on improving product
quality and upgrading product features so as to make the products more
competitive. They also started work on new products that would be required by the
market after three to five years and strengthened the position in the marketplace by
setting up a new sales-planning process, tightening credit norms, improving the
liquidity and profitability of
the dealers, reorienting toward customer satisfaction, and extending the reach of
the distribution network. For phase three, the concentration was on starting work on
international markets by identifying key markets and segments and developing a
comprehensive plan to improve our competitive position so as to get a respectable
market share. They also started looking at opportunities for inorganic growth.
Phase 3:
In phase the concentration was on starting work on international markets by
identifying key markets and segments and developing a comprehensive plan to
improve Transcom competitive position so as to get a respectable market share.
They also started looking at opportunities for inorganic growth. International
diversification was such a key part of the transformation strategy. It was all part of
first, reducing the impact of domestic cyclicity – cyclicity is present across the world
but in different phases in different places - and, second, seeking new geographies for
growth in the face of the limitations of the domestic market, where we enjoy a very
high market share of over 60 percent. Transcom wanted to leverage the market-
leading products internationally.
Change in Workforce and Culture of Transcom
For the change of culture Transcom has taken some steps. Sometimes they
change interior decoration and sometime they change the desk of employee
that make feel refreshing.
1. Formulation of a clear strategic vision: In order to make a cultural
change, Transcom effectively carries out a clear vision of the firm’s new
strategy, shared values and behaviors is needed. The vision of Transcom
provides the intention and direction for the culture change
2. Display Top-management commitment: It is very important to keep in
mind that culture change must be managed from the top of organization, as
willingness to change of the senior management is an important indicator.
Top management of transcom should be very much in favor of the change in
order to actually implement the change in the rest of the organization.
3. Model culture change at the highest level: In order to show that the
management team is in favor of the change, the change has to be notable at
first at this level. The behavior of the management needs to symbolize the
kinds of values and behaviors that should be realized in the rest of the
company. It is important that the management shows the strengths of the
current culture as well, it must be made clear that the current organizational
does not need radical changes, but just a few adjustments.
4. Modify the organization to support organizational change: The fourth
step is to modify the organization to support organizational change. Trascom
very much supportive to their employee so the employee are not feel insecure
to fire their job. Employee are also supportive to the change of transocm. But
those who cannot cope with the change are fired.
5. Select and socialize newcomers and terminate deviants: A way to
implement a culture is to connect it to organizational membership, people can
be selected and terminate in terms of their fit with the new culture.
6. Develop ethical and legal sensitivity: Changes in culture can lead to
tensions between organizational and individual interests, which can result in
ethical and legal problems for practitioners. This is particularly relevant for
changes in employee integrity, control, equitable treatment and job security.
Change of culture in the organizations is very important and inevitable.
Culture innovations is bound to be because it entails introducing something
new and substantially different from what prevails in existing cultures.
Cultural innovation is bound to be more difficult than cultural maintenance.
People often resist changes hence it is the duty of the management to
convince people that likely gain will outweigh the losses. Besides
institutionalization, deification is another process that
tends to occur in strongly developed organizational cultures. The organization
itself may come to be regarded as precious in itself, as a source of pride, and
in some sense unique. Organizational members begin to feel a strong bond
with it that transcends material returns given by the organization, and they
begin to identify with in.
BARRIERS TO CHANGE
The three greatest barriers to organizational change are most often the
following.
1. Inadequate Culture-shift Planning. Transcom is good at planning
changes in reporting structure, work area placement, job responsibilities, and
administrative structure. Transcom uses organizational charts that are
commonly revised again and again to increase accuracy. Timelines are
established, benchmarks are set, transition teams are appointed, etc. Failure
to foresee and plan for resultant cultural change, however, is also common.
When the planning team is too narrowly defined or too focused on objective
analysis and critical thinking, it becomes too easy to lose sight of the fact that
the planned change will affect people. Even at work, people make many
decisions on the basis of feelings and intuition. When the feelings of
employees are overlooked, the result is often deep resentment because some
unrecognized taboo or tradition has not been duly respected.
2. Lack of Employee Involvement. People have an inherent fear of change.
In most strategic organizational change, at least some employees will be asked
to assume different responsibilities or focus on different aspects of their
knowledge or skill. The greater the change a person is asked to make, the
more pervasive that person's fear will be. There will be fear of change. More
important, however, there will be fear of failure in the new role. Transcom
Involves employees as soon as possible in the change effort, letting them
create as much of the change as is possible and practical is key to a successful
change effort. As employees understand the reasons for the change and have
an opportunity to "try the change on for size" they more readily accept and
support the change.
3. Flawed Communication Strategies. Ideal communication strategies in
situations of significant organizational change must attend to the message,
the method of delivery, the timing, and the importance of information shared
with various parts of the organization. Many leaders believe that if they tell
people what they (the leaders) feel they need to know about the change, then
everyone will be ready to move forward. In reality, people need to understand
why the change is being made, but more importantly, how the change is likely
to affect them.
Planning the change at Transcom
Transcom look at his eight steps for leading change below.
Step One: Create Urgency
For change to happen, it helps if the whole company really wants it. Transcom
tries to develop a sense of urgency around the need for change. This may
help to spark the initial motivation to get things moving.
This isn't simply a matter of showing people poor sales statistics or talking about
increased competition. Open an honest and convincing dialogue about what's
happening in the marketplace and with competition. If many people start talking
about the change propose, the urgency can build and feed on itself.
What to do is:
· Identify potential threats, and develop scenarios showing what could
happen in the future.
· Examine opportunities that should be, or could be, exploited.
· Start honest discussions, and give dynamic and convincing reasons to
get people talking and thinking.
· Request support from customers, outside stakeholders and industry
people to strengthen argument.
Step Two: Form a Powerful Coalition
Convince people that change is necessary. This often takes strong leadership
and visible support from key people within Transcom. Managing change isn't
enough - one has to lead it.
It can find effective change leaders throughout an organization - they don't
necessarily follow the traditional company hierarchy. To lead change, one need to
bring together a coalition, or team, of influential people whose power comes from a
variety of sources, including job title, status, expertise, and political importance.
Once formed, “change coalition" needs to work as a team, continuing to build
urgency and momentum around the need for change.
What to do is:
· Identify the true leaders.
· Ask for an emotional commitment from these key people.
· Work on team building within change coalition.
· Check your team for weak areas, and ensure that you have a good mix of
people from different departments and different levels.
Step Three: Create a Vision for Change
When we first start thinking about change, there will probably be many great
ideas and solutions floating around. Link these concepts to an overall vision
that people can grasp easily and remember.
A clear vision can help everyone understand why asking them to do
something. When people see for themselves what trying to achieve, then the
directives they're given tend to make more sense.
What to do is:
· Determine the values that are central to the change.
· Develop a short summary that captures what you "see" as the future.
· Create a strategy to execute that vision.
· Ensure that change coalition can describe the vision in five minutes or
less.
· Practice your "vision speech" often.
Step Four: Communicate the Vision
What to do with Transcom vision after creating it will determine success.
Message will probably have strong competition from other day-to-day
communications within the company, so need to communicate it frequently
and powerfully, and embed it within everything that to do.
Don't just call special meetings to communicate Transcom vision. Instead, talk about
it every chance to get. Use the vision daily to make decisions and solve problems.
When keep it fresh on everyone's minds, they'll remember it and respond to it.
It's also important to "walk the talk." What to do is far more important - and
believable - than what to say. Demonstrate the kind of behavior that want from
others.
What to do is:
· Talk often about the change vision.
· Openly and honestly address peoples' concerns and anxieties.
· Apply Transcom vision to all aspects of operations - from training to
performance reviews. Tie everything back to the vision.
· Lead by example.
Step Five: Remove Obstacles
If they follow these steps and reach this point in the change process, they've been talking
about our vision and building buy-in from all levels of the organization. Hopefully, their
staffs want to get busy and achieve the benefits that they've been promoting.
Put in place the structure for change, and continually check for barriers to it.
Removing obstacles can empower the people need to execute Transcom
vision, and it can help the change move forward.
What to do is:
· Identify, or hire, change leaders whose main roles are to deliver the change.
· Look at your organizational structure, job descriptions, and performance
and compensation systems to ensure they're in line with Transcom vision.
· Recognize and reward people for making change happen.
· Identify people who are resisting the change, and help them see what's
needed.
· Take action to quickly remove barriers (human or otherwise).
Step Six: Create Short-term Wins
Nothing motivates more than success. Give a company a taste of victory early in
the change process. Within a short time frame, one wants to have results that
staff can see. Without this, critics and negative thinkers might hurt progress.
Create short-term targets - not just one long-term goal. Transcom want each
smaller target to be achievable, with little room for failure. Transcom change
team may have to work very hard to come up with these targets, but each
"win" that produce can further motivate the entire staff.
What to do is:
· Look for sure-fire projects that they can implement without help from
any strong critics of the change.
· Don't choose early targets that are expensive. Transcom want to be
able to justify the investment in each project.
· Thoroughly analyze the potential pros and cons of your targets. If
Transcom don't succeed with an early goal, it can hurt your entire change
initiative.
· Reward the people who help you meet the targets.
Step Seven: Build on the Change
Change projects fail because victory is declared too early. Real change runs
deep. Quick wins are only the beginning of what needs to be done to achieve
long-term change.
Each success provides an opportunity to build on what went right and identify
what you can improve.
What to do is:
· After every win, analyze what went right and what needs improving.
· Set goals to continue building on the momentum they've achieved.
· The idea of continuous improvement.
· Keep ideas fresh by bringing in new change agents and leaders for
change coalition.
Step Eight: Anchor the Changes in Corporate Culture
Finally, to make any change stick, it should become part of the core of
organization. Transcom culture often determines what gets done, so the
values behind Transcom vision must show in day-to-day work.
Make continuous efforts to ensure that the change is seen in every aspect of
organization. This will help give that change a solid place in Transcom culture.
It's also important that company's leaders continue to support the change. This
includes existing staff and new leaders who are brought in. If they lose the
support of these people, they might end up back where the company started.
What to do is:
· Talk about progress every chance to get. Tell success stories about the
change process, and repeat other stories that hear.
· Include the change ideals and values when hiring and training new staff.
· Publicly recognize key members of original change coalition, and make sure
the rest of the staff - new and old - remembers their contributions.
· Create plans to replace key leaders of change as they move on. This
will help ensure that their legacy is not lost or forgotten.
EMPLOYEES MOTIVATION TO ACCEPTTHE CHANGE
To motivate employee Transcom has take some steps so that employee can
overcome the barrier and accept the change in positive way.
There are 4 techniques to be taken care of for motivating employees in change
management:
1. Clarity in all areas- when Transcom want to change something they
explain all the action they want to take for implement the change
suppose when they want to change their technical support they usually
clearly brief about the new technology and what are the benefit about
the change and what will be the impact of new technology.
2. Communication – Transcom constant communication; two-way
communication; communication that explains clearly what is happening or not
happening and why, that listens actively and demonstrates to employee that
have thought through the impacts of the change on them, and prepared to
work with them to achieve their buy-in and commitment to the change.
3. Consistency - in all aspects of the way in which TRANSCOM lead the
change, manage the delivery, handle the communication, and ensure
the realization of the benefits.
4. Capability – Transcom has constant attention to the management of
the projects and initiatives that are delivering the capabilities into
organization that will deliver the benefits.
Technique that to be used for change in TRANSCOM
There are several technique to implement the change but TRANSCOM has used
when they feel batter that will be most effective. Most of the cases TRANSOCM use
OPEN SPACE technique, they also used COACH and INVOLVEMENT of employee for
change implements technique.
OPEN SPACE:
TRANSCOM most of the cases use open space technique to implement the change in
their organization. Open Space Technique is one way to enable all kinds of employee
to create inspired meetings and events. TRANSCOM implementing a cultural change
program holds an Open Space session with the general theme of 'culture'. Groups
start talking about belief systems, management culture, trust, national differences
and so on.
COACHING
In some cases TRANSCOM use coach to teach the employee to cope up with the
change but it is very rare case because most of the time they use OPEN SPACE
technique. Only when they adapt some new technology in their organization they
hire a coach, who is expert about this technology, he train employee to cope with
the technology.
INVOLVEMENT
TRANSCOM always try to involve the entire employee to participate with the change
or not. TRANSCOM follow open space or coaching technique but they have always
made sure that entire employee is involved or not. If the employee are not involve in
the change process than no change can be possible for the organization.
Trend analysis
Graphical presentation of change
31%
24%
23%
21%
technological cange2009 2010 2011 2012 2013
From this graph we can see that technological change occur in 2009 is the highest
and in year 2010 to 2012 this change are respectively 52.13,50 and 45 percentage.
But in the year of 2013 they did not take any change because in this year their profit
margin was so high so that they did not change.
200920%
201029%2011
30%
201221%
human cahge
From this graph we see that highest change occur in 2011 and 2009 and 2010 it was
33.97 and 47.87 percentage and 2012 it was 35 % and in 2013 they did not take any
step for change because their highly profitable in this year.
INFORMATION COLLECION FOR THIS GRAPH
We visit TRANSCOM and collect this information, as these are highly confidential we
collect those information form HR manager of TRANSOM he gave us full support to
make this report.
STRATEGIES TO MANAGE CHANGEPROCESS
· There must be situational awareness so that the employees adapt
such organizational changes and get motivated to accept a change.
· There must be supporting structure so that employees manage a change in a organization easily and top level management people support him for that.
· Strategy analysis must be done so that employee would aware about what would be the change and what step must be taken to manage the change.
· Training program must be there before the change exactly takes place.
· Proper communication must be there among the top level management and the employees working in an organization.
· Career opportunities must be given to the employees as a non-financial benefits so that they get motivated.
SUGGESTIONS1. Feedback this involves the awareness of oneself, others, group
processes and organizational dynamics. Awareness leads to change if the feedback is not too threatening.
2. Awareness of the changing socio-cultural environment or Dysfunctional current norms this involves the awareness of the norms influencing one’s behavior. If there is a discrepancy between the outcome of their present norms and the outcomes they want, people are motivate to change.
3. Increased interaction and communication Increased communication leads to changes in attitude and behavior, which does not happen when there is no communication.
4. Confrontation involves the surfacing and examining of differences in beliefs, feelings, attitudes, values or norms to remove obstacles to effective communication.
5. Education activities upgrade knowledge and concepts, beliefs and attitudes and skills.
6. Participation this outcome involves increasing the number of people
involved in problem solving, goal setting and generating new ideas.
7. Increased accountability this involves the clarification of people’s responsibilities and the monitoring performance related to those activities.
8. Increased energy and optimism This involves activities that energize and motivate people to aspire to new possibilities and to aspire to a future that is more desirable
CONCLUSION
TRANSCOM currently is one of the prominent and fastest growing industry in Bangladesh. In
order to cope up with this competitive business environment they continuously bring
meaningful and revolutionary change in their organizational. They always try to keep them
updated with the changing world. To achieve low cost operation, providing quality and
improved products to their customer they frequently come up with new and innovative
formula and technology. They continuously develop their employee’s competency so that
they can cope with the changing state. The top management of Transom are always very
supportive with their employees so that they can properly implement the change. They
always encourage their employees to generate creative ideas while implementing the new
change process. So the top management’s enthusiasm to bring required change for the
organization and the employees spontaneous participation in change process allow Transom
to compete in the competitive marketplace successfully.
REFERENCE
13.1 Trend Analysis of Financial Statements
LEARNING OBJECTIVE
1. Perform trend analysis to evaluate financial statement information.
Question: How is trend analysis used to evaluate the financial health of an
organization?
Answer: Trend analysis evaluates an organization’s financial information over
a period of time. Periods may be measured in months, quarters, or years,
depending on the circumstances. The goal is to calculate and analyze the
amount change and percent change from one period to the next.
For example, in fiscal years 2010 and 2009, Coca-Cola had the operating
income shown as follows. (Amounts are in millions. To convert to the actual
amount, simply multiply the amount given times one million. For example,
$8,449 × 1,000,000 = $8,449,000,000. Thus Coca-Cola had operating
income of $8,449,000,000 in 2010.)
Amount 2010 Amount 2009Amount Change
Percent Change
Operating income $8,449 $8,231 ? ?
Although readers of the financial information can see that operating income
increased from 2009 to 2010, the exact dollar amount of the change and the
percent change is more helpful in evaluating the company’s performance.
The dollar amount of change is calculated as follows:
Key EquationAmount of change = Current year amount – Base year amount
Amount of change$218==Current year amount$8,449−−Base year amount$8,231
Question: As you can see, operating income increased by $218,000,000 from
2009 to 2010. Is this a significant increase for Coca-Cola?
Answer: Most of us consider $218,000,000 to be a huge amount, but the only
way to gauge the true significance of this amount for Coca-Cola is to
calculate the percent change from 2009 to 2010. Thepercent change is
calculated as the current year amount minus the base year amount, divided
by the base year amount.
Key EquationPercent change = (Current year amount – Base year amount) ÷ Base year amount
The calculation that follows shows operating income increased 2.6 percent
from 2009 to 2010. Although not an extraordinarily significant increase, this
does represent positive results for Coca-Cola.
Percent change2.6%=(Current year amount−Base year amount)÷Base year amount=($8,449−$8,231)÷$8,231
Trend Analysis for the Income Statement and Balance Sheet
Question: Trend analysis is often used to evaluate each line item on
the income statement and balance sheet. How is this analysis
prepared?
Answer: Figure 13.1 "Income Statement Trend Analysis for
" shows Coca-Cola’s income statement trend analysis, and Figure
13.2 "Balance Sheet Trend Analysis for " shows Coca-Cola’s balance sheet trend analysis. Carefully examine each of
these figures, including the comments.
Figure 13.1 Income Statement Trend Analysis for Coca-Cola
every asset, liability, and shareholders’ equity line item are
significant. From reading the notes to the financial statements, the
authors were able to identify the main source of these increases. In
2010, Coca-Cola acquired the remaining 67 percent of Coca-Cola Enterprises, Inc.’s (CCE)North America business that Coca-Cola did not already own. This resulted in significant increases in
noncurrent assets and noncurrent liabilities, which were acquired
as part of this transaction. It also resulted in the reporting of a one-
time gain on the income statement of $4,978,000,000, which came
from Coca-Cola remeasuring its equity interest in CCE to fair
value upon close of the transaction in 2010.
This analysis points to the reason we perform trend analysis—to
identify the increases and decreases in dollar amounts from one
year to the next and to take a close look at unusual trends.
Trend Analysis over Several Years
Question: The trend analysis just described works well when
comparing financial data for two years. However, many prefer to
review trends over more than two years. How might a trend
analysis for several years be prepared?
Answer: A common approach is to establish the oldest year as the
base year and compute future years as a percentage of the base
year. For example, Coca-Cola had the following net sales and
operating income for each of the past five years (in millions):
