Square PharmaA. Historical Background:
Square is one of the well-known companies in Bangladesh. At present it has a huge number of products and it has employees more than 12000.Square pharmaceutical is a sister company of square group of industries. Mr. Samson H Chowdhury is the founder of this company. In 1952, he started a small pharmacy in Ataikula village, which is about 160 km off capital Dhaka in the northwest part of Bangladesh. Then he ventured into a partnership pharmaceutical company with three of his friends in 1958. They named the company “SQUARE”. They choose this name because four friends started this company and it signifies accuracy and perfection meaning quality. From then square started its journey and become a renowned organization.
Eventually this small company of 1958 turned into a publicly listed diversified group of companies and employing more than 12,000 people. The current yearly group turnover is 300 million USD.
And now Square Pharmaceuticals Limited is the largest pharmaceutical company in Bangladesh and it has been continuously in the 1st position among all national and multinational companies since 1985. It was established in 1958 and converted into a public limited company in 1991The sales turnover of SPL was more than Taka 7.5 Billion (US$ 107.91 million) with about 16.92% market share (April 2006– March 2007) having a growth rate of about 23.17%.
B. Background of the Export:
➢ When, Why & How Square Pharmaceuticals stared its export business?
They stared their business in 1987. They are the pioneer of this sector. They started their export business with some definite objectives like to ensure company’s growth, to engrave opportunities, to earn foreign currency and along all with these to increase the overall market image. At the very beginning the found their demand in Nepal, Myanmar and USA. Thus they started their business in international market.
➢ How did square search, evaluate and select the export...