Professional Documents
Culture Documents
MGT 212 Report
MGT 212 Report
sINCE 2008
Name of the
Name of the group: Nashra sultana, Rifa Tasfia, Sohana akter,Sabrina sadia, Torikul Islam, Nafia Barkat
Department of Management
Sec: 1
(Submitted By)
Methodology..............................................................................................................................................4
Limitations..................................................................................................................................................4
Executive summary.....................................................................................................................................5
Vision..........................................................................................................................................................6
Organogram................................................................................................................................................6
Situational analysis.....................................................................................................................................7
External factors:......................................................................................................................................7
Internal Factors:......................................................................................................................................8
SWOT Analysis:............................................................................................................................................9
1. Strength...........................................................................................................................................9
2. Weakness........................................................................................................................................9
3. Opportunities................................................................................................................................10
4. Threats...........................................................................................................................................10
BCG Matrix................................................................................................................................................11
Star........................................................................................................................................................13
Question mark.......................................................................................................................................13
Cash cow...............................................................................................................................................13
Dog........................................................................................................................................................14
Organizational strategy.............................................................................................................................17
Competitive strategy:.........................................................................................................................17
Competitive Advantage:....................................................................................................................17
Differentiation strategy:........................................................................................................................17
Management Issues:..........................................................................................................................18
Organizational Structure:......................................................................................................................19
Departmentation:..................................................................................................................................19
Leadership Styles.......................................................................................................................................19
Recommendation......................................................................................................................................20
Observation...............................................................................................................................................21
Conclusion.................................................................................................................................................22
References.................................................................................................................................................23
Introduction
Methodology
It should be clear and concise and something that everyone in the company can agree with. The
methodology of a company is the system by which it operates. It includes the company's goals,
strategies, and tactics. A well-thought-out method can help a company achieve its objectives and
improve its performance. Another essential part of the methodology is the business plan. This
will show how the business will operate, including its goals, strategies, and tactics. Lira Import
limited operates according to a strict methodology developed for many years. The company's
management team is highly experienced. They have a wealth of knowledge in the field of
imports. It operates with two of its overseas branch companies located in Wyoming, USA and
London, UK. All these three companies are constantly working to introduce quality products to
the consumers of Bangladesh at the lowest possible price. They are always committed to
upholding policies and will continue providing quality, genuine, branded products to valuable
customers.
Limitations
Many things can be seen as a limitation in business. One of the most common is the lack of
resources, such as money or human resources. Other restrictions can include the availability of
specific resources or technology, government regulations, and competition from other
businesses. Lira import also has some limitations.
Executive summary
Lifestyle product specializing in importing, distributing and retailing colour cosmetics, toiletries,
skincare products and fragrance items in Bangladesh. Imports and sells items from significant
nations of the world, including the United States, the United Kingdom, Turkey, and others.
Rajmoni Group is the leading enterprise in Bangladesh that engages in Import, fabrication, and
metal manufacturing. It has a long tradition of success in those countries. LIRA Import of
Rajmoni Group attempts to introduce international cosmetics, toiletries, and grooming brands to
Bangladesh and to provide the most well-known, contemporary international facilities to
inhabitants. LIRA Import was incorporated in 2008 when the Bangladeshi markets started to
carry knockoff and fake products of renowned brand names. It operates in conjunction with three
of its international branch companies in Wyoming, USA, London, and New York, UK. These
three businesses are working toward introducing high-quality products to the public
Lira Import Mission statement
An organization's mission statement provides a reason for existing and clarifies how it will serve
clients. It should be concise, easy to understand, and motivating. A good mission statement can
help an organization stay focused on its goals, and it can also help guide its decision-making.
The mission statement of lira import is "Build your confidence".
Vision
A business must need a clear vision. This means having a clear idea of your business's goals and
where you want it to go. Without a vision, making decisions or focusing on long-term goals can
be difficult. The vision of Lira Import is always to look out for new brands to bring under its
banner and to provide the best quality products and services at the lowest possible prices. Its
visionary founder, Lira, is constantly working to improve the company and make it the best it
can be. This dedication has paid off, as Lira Import is now one of the largest and most respected
importers in the country.
Organogram
Organogram: An organogram is a graphical visualization of organization’s structure. This is very useful tool
for an organization where it shows a chart of employee’s name, skill and contact information.
OFFICERS OF THE COMPANY
LIRA Import has built showrooms and sales stations across the nation to give customers a better
shopping experience. LIRA Import currently sells 80 sales pints in various parts of Dhaka and
other significant metropolises. By the end of 2020, LIRA Import hopes to raise this number to
200, ensuring that customers have access to the products it sells everywhere in Bangladesh.
Along with a robust retail infrastructure, Lira Import also has a distribution network that spans
all of Bangladesh. Lira Import has regional offices in six divisions that cover every Bangladeshi
city. A group of 222 employees led by a national sales manager and six regional sales managers
oversees Lira Import's distribution network. Twenty-nine area sales managers and 185 sales
promotional officers.
Situational analysis
External factors:
External factors are elements that exist outside of a company but affect a company’s operations.
”Lira Import Limited” company faces some external factors issues.Economic Factors: When the
economic trend is downward and the price of dollars has risen so much, it’s a difficult situation
that affects the company in order to import products from foreign countries.Demographic
Factors: Successful businesses analyze the demographics of their target market to make sure
their goods and services meet the needs of those who will benefit from them. Lira Import
Limited developed better ways to serve their loyal customers and earn new ones. Their
marketing efforts focused on young ladies and women of all
age .https://www.indeed.com/career-advice/career-development/demographics-definitionnd
Ethical Factors: Each person has their own sense of morality and ethics, and some businesses
facing difficult to strike a balance between employees' personal lives and their obligations at
work. Lira Import Limited always tries to be ethical by producing authentic products and
international standard customer service.
Internal Factors:
Internal factors that affect a company internally with some variables like employees, values,
mission, object and so on.
Value system: The value system of a business organization determines its behavior towards its
employees, customers and society at large. Lira Import maintains a value system by keeping a
good relationship with workers and also with customers.
SWOT Analysis:
Swot analysis is a strategic planning and strategic management technique used to help an
organization or even a person identify the strength, weaknesses, opportunities and threats related
to business competition or project planning. It is sometimes called Situational assessment or
Situational analysis. The company "Lira Import" is a local beauty line-based company. Because
of its good products, they have a good reputation across the whole country. Still, there are more
companies like them, and they are serving their customers in the same manner. Being a
company, it has a lot of things to think about and decide. SWOT analysis helps in the following
case. A short description of the company's SWOT analysis is given below-
1. Strength:
It is something a company takes pride in. If the amount of strength rises, the company
shines and doesn't fall behind. It also has some strengths based on which they are
standing in a good position. The strengths are-
i) It has its own outlets almost everywhere in Dhaka and other cities, which is a
huge achievement.
ii) They try to keep affordable and drugstore products rather than branded ones so
that people of all types can buy them at any time.
iii) They have both offline and online facilities. Thus, people can buy staying at any
place.
iv) They are in continuous contact with their delivery partner "REDEX". For which
people who order online get things in the scheduled time.
2. Weakness:
It clearly takes a company down. But every company has some lackings, more or less.
The companies that turn their weakness into power are the successful ones. Lira Import
follows this term. There are some weaknesses of Lira Import, like-
i) Sometimes, people complain about their staff, knowledge and behaviour; which
often makes them weak.
ii) Due to some online stores providing replica products at lower prices, the products
are less sold, and there becomes a trust issue.
iii) Sometimes, few customers complain about bringing branded products which are
not possible for them since they deal with the drugstore ones by considering all places
and incomes.
3. Opportunities:
It is the thing based on which they focus on doing better. Though they have many
strengths, they search for many opportunities to reach the Number 1 spot in the beauty
line industry. The opportunities for them would be-
i) They always try to search places and buy them for their outlets. They focus on
making more than one outlet in the same area so that people become aware of it and visit
them more often.
ii) They try to give discounts more often on the most demanding products so that
customers are able to buy almost all the time.
iii) They always focus more on their top two competitors so that their quality,
strategy and policy become higher.
iv) Like their delivery associate REDEX, they are trying to connect more with their
delivery services like "Pathao Courier", "Steadfast", "Sheba Delivery", "Paperfly" etc., so
that they deliver more products fast to their customers.
4. Threats:
The threat is something which does both good and bad. Thinking about threats, they try
to improve their company. Since beauty line-based companies are very common in our
country, there are many companies like them. They eventually become our threats. The
name of their greatest threats are i) i)
i) Banglashoppers:
This shop is their greatest threat. It is the largest cosmetics shop in Bangladesh with its
own retail chain system. It introduces genuine and world-class branded cosmetics,
imported products etc. They Often brands which are only available to them like Revox,
Absolute New YORK etc. It also has outlets almost everywhere in Bangladesh,
including its online services.
It is the largest and the most trusted e-commerce platform in Bangladesh, providing only
authentic health and beauty products imported from the UK and USA. Though they have
one showroom in a mall, now they are completely online based.
iv) Shajgoj: This is the most popular and demanding e-commerce beauty line shop.
Starting from its decoration, products- everything is very attractive for which people are
inclined towards them. They sell drug stores as well as branded products which is their
main advantage
BCG Matrix
The company Lira import is a common beauty-based company in Bangladesh. Taking from
personal hygiene, skincare, hair care, makeup etc.- everything is available in the store. It has
almost 80 sales points at different locations in Dhaka and other major cities.
Thus, it always tries to maintain and keep all products available in every store. Calculating until
May/June 2022, especially during Eid time, the company tries to be more active both online and
offline. Though the company consists of multiple items, there are still some specific items which
are always available for the customers irrespective of any situation. These are considered the
most important products of all. The name of some products are-
1. Wet and Wild casuist lipstick in the shade: Give me a mocha
These are essential products, and they are present in every store. According to its availability and
demand, the BCG Matrix of these products is shown below-
High Low
STAR ?
Market Growth
Jcat Beauty Indense compact Makeup
powder revolution-Niacinamide
serum
After all these products, the company calculated everything until May/June 2022 and
found their hottest products which made them stand out from their competitors. Some of
them are-
High Low
High
Star ?
Jcat Beauty indense compact Koric Vit-C cleanser
powder
Low
Star:
It refers to high market share and potential. This can turn into a cash cow as the market
matures. So, the report has given sufficient evidence with high potential that Jcat beauty
compact powder falls under the star. Since customers love it for its flawless finish and
that is why it is always in full stock.
Question mark:
This state is basically whether a company wants to invest more or not. It slightly causes
difficulties in understanding the importance of a certain product. Koric vit-c cleanser falls
under this because it brought a short-term standout for the company due to its multi-
tasking formulation for cleansing and exfoliating skin. Lira import is satisfied with this
product, but they are not sure whether they want to invest in it or not.
Cash cow:
It is that state where the products have reached a high point with a brand name as the
market matures and the products, are sold in an inconsistent manner without any doubt.
Wet and wild lipstick falls under this place because this shade is perfect for all skin tones,
and this lipstick is sold in 17-18 pieces a day, according to the company's account.
Dog:
No products are actually suitable for this state. This state is of low market share and
potential. Thus the company wants to get rid of such products in case of the hottest
selling products.
A company and its activities rise and fall down like an escalator, and Lira Import is not
an exception. It has a very good reputation for its products, but still, there are some
products which are termed as weakest products, and the company wants to get rid of
them. Some products are-
1. Retinol serum
2. Turmeric serum
3. W7 eyeliner
4. W7 bronzer
The BCG Matrix shows the weakest products are-
High Low
Market Share
STAR ?
Question mark:
Retinol and Turmeric serum falls under this place. Because it is available in other
companies with a decent range, thus it is difficult for Lira Import to understand whether
to invest in these two products or not. That is why these two products are under this
section.
Cash cow:
No products are under this state because the weakest products lack behind even though
the market has become mature and stable.
Dog:
W7 eyeliner and bronzer are under Dog. These two products are sold in other shops, both
online and offline, at a low price. Also, replica versions are available for which people
face trust issues and avoid these products. Therefore, Lira Import wants to get rid of these
two products.
Organizational strategy
Organizational strategy is a dynamic long-term scheme that indicates the route towards the
realization of a company's goals and vision. To expand organizational activities, this strategy
helps to assemble resources in order to support organizational activities. Although goals may
remain the same, the strategies can be changed in order to satisfy the current market.
Following a lengthy chat with one of the branch Managers regarding the SWOT Analysis of
"Lira Import Limited", she informed me that the company used three levels of strategies
competitive strategy, functional strategy and customer service strategy.
Competitive strategy:
A competitive strategy is a long-term plan developed by a business in which an organization
maps the route to acquire a competitive edge over its industry rivals. Additionally, a
competitive strategy may be defined as an organization's action plan produced after
evaluating a variety of external elements, with the goal of assisting the firm in gaining a
competitive edge, developing market share and overcoming competitors. The term
'competitive strategy ' refers to the process of determining competitive advantage. "Lira
Import Limited" was established in 2008, at a time when the market of Bangladesh got
flooded with replicas and fake products, and consumers were being fraudulently deceived. At
that time, "Lira Import Limited" started importing cosmetics, toiletries and grooming brands
from the USA, UK, Turkey and many other countries. It provides the consumers with
International Standard facilities which many other organizations fail to perform.
https://lirimportltd.com/abouta.aspx
Competitive Advantage:
Competitive advantage is a kind of plan where it allows a company to produce products.
"Lira Import Limited" is constantly working to provide the best quality products and services
at the lowest possible price to the customers in the market.
Competitive strategies fall into two broad categories, which are described below:
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market and capturing customers' attention, it's very difficult to implement, "Lira Import
Limited" makes extensive use of this to attract consumers.
Differentiation strategy:
As the title indicates, it's a term developed by providing consumers with something different,
unique and distinct from what their rivals may introduce in the marketplace. To maintain a
competitive edge, "Lira Import Limited" operates in conjunction with two of its overseas
branch companies located in Wyoming, the USA, UK. All these three companies are
constantly working to introduce quality products in Bangladesh and make this market more
trustworthy. https://liraimportltd.com/about.aspx This approach is quite different from other
organizations.
Justification for assuring the use of functional level strategies in "Lira Import Limited":
3it clarifies how Operational managers can operate within "Lira Import Limited" to ensure
improved results in their respective functional areas.
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2. Successful consumer communication both in the online platform and offline.
3. It has its distribution channel covering the whole of Bangladesh and also has six regional
offices in six divisions covering all the cities of Bangladesh.
Management Issues:
Management issues occur when an organization fails to perform their duty.
"Lira Import Limited" limited faces some problems when it comes to describing a beauty
product to a customer. Some sell keepers fail to provide the right information and fail to
convince the customer to buy the product.
Organizational Structure:
"Lira Import Limited" always tries to maintain coordination among all the branches. They
make the same product available in all the branches and also make delivery through an online
platform. For this reason, the customer doesn't need to switch shops for any product, and they
can achieve their maximum profit.
Departmentation:
It refers to a group of workers and employees into departments. It is the division of a complex
organization into smaller, flexible administrative units.
"Lira Import Limited" distributes workers in a group of some people who handle one specific
sector, such as branch managers applying the same method to attract customers in every
branch with their decorations and available products. Same as some groups cooperate with
customers online and sell their products. By departmentation, they have the same number of
consumers both offline and online.
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Leadership Styles
1. Vision: Successful leadership creates a clear vision of what the organization can achieve
for their organization.
2. Communication: Leaders help communicate the firm's vision and goals to employees.
3. Decision Making: Successful leadership makes the best decisions for the organization in
all situations.
4. Passion: Effective leadership inspires others to buy into the company's goals and gives
everyone a strong reason to stay dedicated to their duties.
5. Guidelines: Once employees know what to do to deliver projects, effective leaders
monitor their work to ensure they perform their roles effectively.
6. Commitment: Effective leaders are committed to their organization and its employees to
the success of their organization.
7. Honesty: Successful leadership teaches ethical and moral values to the organization.
8. Confidence: They listen to employees' concerns about their work, providing positive
feedback
9. Morale: Leadership boosts employees' morale by winning their trust.
10. Growth: The best leaders can create an environment to grow up.
11. Coordination: with organizational objectives, effective leaders balance personal
interests. Lira, the owner of Lira Imports, oversees all aspects of her company. Many workers
work under her. Many workers work in its various outlets. She manages the organization by
following all stages of management. And through this, she is succeeding in her business.
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How covid 19 has influenced the managerial of the
organization
There are many companies which was highly affected in different ways during the Corona
pandemic. But there was no problem with lira import. Especially in managerial action and
strategy, there has been no change. During Corona, with the announcement of lockdown, they
closed their shops and focused on selling products online. They continued connection with
their delivery partner, redx. Based on customers' orders during the covid time, half group
work from home and half worked from the store for the supplies and stock. Then the
information of the orders used to be collected by the Managing Director and then it is then
collected from the office. Staff faced no problems related to their salary or other things. Their
Online part improved during that time, and for this reason, they are now very active online
and making sales. Covid 19 influenced in the following ways- 1. Lira import has become
more effective in delivery from before. Usually, it took 3/5 working days to deliver products,
but now it takes 1/2 days. Since the managerial functions became totally online based during
the covid time. 2. The Company became an expert in IT and other technical issues by
working continuously online. 3. In other ways, it made influencers and staff capable of doing
live on social media and other things for the promotion for which the company was so active.
Strategic management is the ongoing planning, monitoring, analysis and evaluation of all
requirements necessary to achieve the goals and objectives of an organization. My opinion is
if they can manage their business by following these steps of management, then they can be
successful in business.
Recommendation
When it comes to discovering the best cosmetics, there's no need to look any further than
your local lira import store. This retailer is a one-stop shop for all your beauty needs, from
skincare and haircare to makeup and nail polish. You'll find it all at affordable prices.
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What's more, lira import is known for its excellent selection of high-quality brands. Whether
you're looking for something luxurious or something more affordable, you'll be sure to find
the perfect product here.
There's a new import store in town, and it's called Lira. It's a cosmetics store that offers high-
quality products from around the world at competitive prices. If you're looking for something
special, Lira is definitely worth checking out.
Lira also has a loyalty program that rewards customers for their purchases. You can earn
points towards free products and discounts simply by shopping at Lira. Whether you're
looking for makeup, skincare, or hair products, Lira has something for everyone.
What I love most about this store is that the prices are very reasonable, even when compared
to other stores in Bangladesh. In addition, the staff is friendly and knowledgeable, and they're
always happy to help you find what you need if you're looking for an affordable, quality
option for your cosmetics, then I would definitely recommend giving Lira Import a try!
Observation
'Lira Import' has come up in Bangladesh, which is solely dedicated to selling imported
cosmetics. The store is owned by a reputed beauty company and offers a wide range of
products from renowned international brands.
One of the main attractions of this store is that it offers products at very competitive prices. In
addition, the staff is quite knowledgeable about the products and can guide the customers
accordingly. Moreover, the store also provides free sampling services so that customers can
test out different products before making a purchase. All in all, Lira Import is a great place
for beauty enthusiasts who want to try out high-quality, imported cosmetic products without
spending too much money.
The Lira Import store has a wide variety of products to choose from, including skincare
items, makeup, and hair products. You can find brands like Maybelline, Revlon, and
Schwarzkopf here. The staff at the Lira Import store are very friendly and helpful. They will
24
guide you through the selection of products and help you find what you need.
If you're looking for high-quality cosmetics at a great price, then be sure to visit the Lira
Import store in Dhaka!
Conclusion
Lira Import is a new cosmetic store in Bangladesh that is quickly gaining a following among
beauty enthusiasts in the country. The company offers high-quality products at competitive
prices. Their knowledgeable staff is always happy to help customers find the perfect product
for their needs. Lira Import's products are available both online and in physical stores, so
customers can choose the option that best suits their needs.
The company has quickly become a leader in the Bangladeshi beauty industry, and its
products are now available in major cities throughout the country. Lira Import's success is
due in part to its commitment to quality and customer service, as well as its affordable prices.
The store has been open for a few months now, and it has quickly become popular, for this
customers appreciate the wide selection of products and the high quality of the cosmetics.
The staff at lira import are also very knowledgeable about their products and are happy to
help customers find what they need.
Overall, lira import is proving to be a successful addition to the Bangladeshi beauty market.
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References
1. https://liraimportltd.com/about.aspx
2. https://vpofstrategy.wordpress.com/business-plan-methodology/
3. https://www.yourarticlelibrary.com/management/7-major-limitations-to-effective-
planning-business-management/25643
4. https://learn.marsdd.com/article/the-mission-statement-the-basis-for-startups-
strategic-planning/#:~:text=A%20mission%20statement%20outlines%20a,and
%20strategic%20plan%20are%20developed.
5. https://www.businessnewsdaily.com/4245-swot-analysis.html
6. https://www.indeed.com/career-advice/career-development/external-environment-
factors
7. https://corporatefinanceinstitute.com/resources/knowledge/strategy/vision-statement/
8. https://www.businessnewsdaily.com/4245-swot-analysis.html
9. https://www.investopedia.com/terms/o/organizational-structure.asp
10. https://courses.lumenlearning.com/wm-organizationalbehavior/chapter/leadership-
styles/
11. https://www.snhu.edu/about-us/newsroom/business/what-is-organizational-
leadership#:~:text=Organizational%20leadership%20is%20a%20management,in
%20service%20to%20those%20goals.
12. https://www.indeed.com/career-advice/career-development/importance-of-
leadership#:~:text=Leadership%20is%20a%20vital%20management,organization
%20to%20realize%20its%20mission.
13. https://www.banglashoppers.com/about-banglashoppers-old
14. https://www.bdbudgetbeauty.com/pages/about-us (BBB)
15. https://www.themallbd.com/page/about-us (The Mall)
16. https://shop.shajgoj.com/about-us/ (sajgoj)
17. https://www.mindtools.com/pages/article/SWOT Analysis
18. https://www.businessnewsdaily.com (bcg matrix)
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Appendix
Team leader: Torikul Islam ID:2211649630
MS Word
Plagiarism check
Executive Summary
Vision
Recommendation
Observation
Conclusion
External factor
Internal Factor
Organizational strategy
Departmentation
Organizational Structure
Introduction
Methodology
Limitations
27
Name: Sabrina Sadia ID: 1420773030
Leadership Styles
BCG Matrix
SWOT Analysis:
Plagiarism grammarly
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