Discuss the objective of SME foundation

Posted by Ripon Abu Hasnat on Sunday, December 7, 2014 | 0 comments | Leave a comment...

1. Implementing SME Policy Strategy adopted by the Government of Bangladesh.
2. Recommending SME friendly policies to different government ministries and agencies.
3. Providing business support services to the SME entrepreneurs.
4. Providing information and proper guidance for establishing new SMEs.
5. Conducting sectoral study to ensure availability of latest information, identify challenges and recommend preventing measures.
6. Operating credit wholesaling programs for the SMEs through different banking and non-banking financial institutions.
7. Conducting training programs to create skilled labor for different SME sub-sector based on their demands.
8. Technology development, adopting new technology, conducting reverse engineering and supporting SMEs to get quality certifications.
9. Supporting SMEs in marketing their products and promotion of services.
10. Bringing women entrepreneurs into the mainstream of development and helping them to achieve economic self dependency.
11. Assisting SMEs in creating institutional bondage with foreign companies for capacity building, technology transfer and improving productivity.
12. Training up and motivating SMEs in using ICT tools for more productivity and improving quality.

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Discuss the Functions of SME Foundation

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1.   Implementation of SME Policy Strategies adopted by the Government of Bangladesh

Implementation of the SME Policy Strategies adopted by the Government of Bangladesh is one of the main responsibilities of SME Foundation. SME Foundation continuously assist the government in core issues mentioned in the policy strategy like: recommend rational budget structure for SMEs, advice on fiscal and financial issues, assist to ensure quality of SME products, assist in capacity development, techno-entrepreneurship development at international level etc.


2.   Policy Advocacy & Research
Policy advocacy & research is one of the most important mandates of SME Foundation aims to sustainable SME development in the country. The main activities of Policy Advocacy & Research Wing are to facilitate for growing enabling environment to run SME business smoothly in the country.

3.   Credit Wholesaling Program
Credit wholesaling is one of the major activities of SME Foundation to ensure easy access to finance for the SME entrepreneurs. SME Foundation has already taken credit wholesaling program as pilot scheme with its own fund. SME Foundation helps the SME entrepreneurs by providing collateral free loan at 9% interest rate to the technology based potential SME manufacturing industries along with agro-based industries.   

4.   Capacity Building & Skill Development
SME Foundation organize training program in public-private partnership module to enhance the skill of SME entrepreneurs as well as to create new entrepreneur. Training programs like entrepreneurship development, SME cluster wise skill based, technology based, ICT based, ToT, productivity and quality improvement etc. are conducted by signing a MoU between training institute or SME related association.

5.   Access to Technology
SME Foundation is committed to improve competiveness of SMEs through technology up-gradation, adaptation of advanced technology, diffusion of appropriate technology, moving towards reverse engineering, and compliances and product certification. SME Foundation is also devoted to enable SMEs to energy efficient and environmentally sound.  

6.   Access to Information
SME Foundation provide update information and data through its own web portal (http://www.smef.org.bd) to the government, planner, decision maker, executive, researcher, investor, policy maker and to the SME entrepreneurs to establish new business or run business in a profitable manner.

7.   Women Entrepreneurship Development
Bring the women entrepreneur to main stream development process and facilitate them for women empowerment is one of the prioritized activity of SME Foundation. Main activities are: institutional capacity building of women chamber/ trade bodies, formulate gender action plan, encourage bankers for finance to women entrepreneurs, conduct study on women entrepreneurs, organize women entrepreneur conference, national SME women entrepreneurship award, SME product fair for women entrepreneur etc.

8.   Business Support Service
SME Foundation provides different kinds of business support service for entrepreneurship development. These are: promotion and market expansion of SME product, establish linkage between buyer and seller, provide advice and guideline with information support for new business development, publish SME business manual, organize SME product fair etc.

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Definition of code of conduct

Posted by Ripon Abu Hasnat on Wednesday, November 26, 2014 | 0 comments | Leave a comment...

A code of conduct is a set of rules outlining the responsibilities of, or proper practices for, an individual, party or organization. Related concepts include ethical, honorand moral codes, as well as halachic and religious laws.

A common code of conduct is written for employees of a company, which protects the business and informs the employees of the company's expectations. 

It is ideal for even the smallest of companies to form a document containing important information on expectations for employees. 

The document does not need to be complex or have elaborate policies, but the file needs a simple basis of what the company expects from each employee.

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Development in Marketing Scope at the Aspect of Service Marketing

Posted by Ripon Abu Hasnat on Monday, November 24, 2014 | 0 comments | Leave a comment...

Marketing scope develops day to day. These developments carry special significance for service sector in which customer and service producer interact closely.

INTERNAL MARKETING
Especially in service sector like external relations, internal relations also have significance. It requires finding and keeping successful personnel.
For personnel of the organization to be considered their own goals and service situation, values of the organization are sold to them. The communication techniques carried out for customers are also performed for the personnel in internal marketing and this two techniques go together. For example, the ads that aim creating firm’s image should be prepared with regarding to audience which is composed of firm’s personnel.


NETWORK MARKETING
This approach takes the organization as a sequence which involves producer and customer that market services to each other in the organization. In this structure, the activities of departments that compose organization would be more focused on market. This will also affect the structure of organization.

RELATIONSHIP MARKETING
It was mentioned that close relationship was established between producer and customer in service sector. In addition to this, life cycle of a customer relationship was also mentioned under the product outline.

According to the researchers, maintaining the relationship for extant customer increases the profit of firms. It should be emphasized that this fact has an importance for service sector.

Life cycle of a customer relationship is composed of three stages. At the first stage, firms try to be well known and to acquire new customers. At the second stage, the connection between customer and firm has been achieved. During the stage, firms intensified their activities on acquired customers and both of them promises mutually. At the third stage, these promises are accomplished and the service is consumed. During the stage, firms face “Reality Instants” which could possibly achieve satisfaction of customer and continuous relationship.
This could be also true for second stage. So, these instants should be managed successfully.

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Importance of Bank Marketing

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Awareness among Customers
Modern technology has made customers aware of the developments in the economic environment, which includes the financial system. Financial needs of the customers have grown multifold into various forms like quick cash accessibility, money transfer, asset security, increased return on surplus funds, financial advice, deferred payments etc. With a wide network of branches, even in a dissimilar banking scenario, customers expect the banks to offer a more and better service to match their demands and this has compelled banks to take up marketing in right earnest.

Quality as a Key Factor
With the opening up of the economy, fast change has been experienced in every activity, and banking has been no exemption. Quality is the watch word in the competitive world, which is market driven and banks have had to face up to this emerging scenario. In fact, it may not be out of place to reiterate that quality will in future be the sole determinant of successful banking ventures and marketing has to focus on this most crucial need of the hour.

Growing Competition
Increased completion is being faced by the banking industry from within the system with other agencies both, local and foreign, offering value added services. Competition is no more confined to resource mobilization but also to lending and other areas of banking activity. The foreign commercial bank with their superior technology, speed in operations and imaginative positioning of their services has also provided the necessary impetus to the Indian banks to innovate and complete in the market place.

Technological Advances
Technological innovation has resulted in financial product development especially in the international and investment banking areas. The western experience has demonstrated that technology has not only made execution of work faster but has also resulted in greater availability of manpower for customer Contact.

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What’s are the Features of Bank Marketing

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The main features of Bank Marketing are-

1. Banking product cannot be seen or touched like manufactured products (intangibility)

2. In marketing banking products, the product and the seller are inseparable; they together define the banking product (inseparability)

3. Banking products are products and delivered at the same time; they cannot be stored and inspected before delivering’ (perishability)
4. Standardization of banking product is difficult (variability)

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Different Products and Services of Banks

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Mainly there are two types of product in Bank. These are

· Deposits – Banks accept the deposits of the public. In order to attract the savings of the people, the bank provides every sort of facility and inspiration to them and collects the scattered savings of the society. The bank opens an account of those people who deposit their savings with the bank. These deposit accounts can mainly be of three types and people can open any of these three types of accounts according to their wish. These accounts are current account, saving bank account, fixed deposit account.

· Loans – The bank just don’t keep with themselves the deposited amount of the people, rather they advance them in the form of loans to the businessman and entrepreneurs, just to earn profits for their partners. The loanee keeps some gold, silver, fixed and variable assets in the form of security with the bank. The bank can advance loan to their customers in three ways: overdrafts, money at call, discounting bills of exchange.

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Marketing Approach to Banking Services

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There are some approaches to bank marketing. These are discussed below:
· Identifying the customer’s financial needs and wants.

· Develop appropriate banking products and services to meet customer’s needs.

· Determine the prices for the products/services developed.

· Advertise and promote the product to existing and potential customer of financial services.

· Set up suitable distribution channels and bank branches.

· Forecasting and research of future market needs.

From the above discussion of bank marketing, it can be understood that the existence of the bank has little value without the existence of the customer. The key task of the bank is not only to create and win more and more customers but also to retain them through effective customer service. Customers are attracted through promises and are retained through satisfaction of expectations, needs and wants. Marketing as related to banking is to define an appropriate promise to a customer through a range of services (products) and also to ensure effective delivery through satisfaction. The actual satisfaction delivered to a customer depends upon how the customer is interacted with. It goes on to emphasize that every employee from the topmost executive to the junior most employee of the bank is market.

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