Course: W501- Management of Organizations Assignment no: 03

Interview with Industry Expert

Prepared for Prepared by – Group 8
Mr. Swarup Saha Ahnaf Tahmid (MBA 59E, Roll: ZR-51)
Sattar Md. Emon (MBA 61E, ROLL: ZR-49)
Lecturer Abir Abrar (MBA 61E, ROLL: ZR-12)
IBA, University of Dhaka IBA, University of Dhaka

26th April 2019

 Chosen Industry, Company & Manager
Chosen Industry Fast Food Restaurant Industry BDT 7000 Cr Market

Over 1 lakh Fast Food

outlets in BD

Established in 2016
Chosen Company Chillox Foods Limited
Yearly Turnover:
BDT 35 Cr/ $4.1 mn

Employee count: 152

Chosen Expert Mr. Ahmed Faiz, CFA Director, Finance &

Compliance

BBA & MBA (IBA DU )

**Data source: Interview
 Planning
A Typical Short & Long Factors & Contingency G&O of
Working Day Term Planning Challenges Planning subordinates

 12 hr working day  Long term planning:  Biggest challenge is  Has to react very fast if  JD discussed & agreed
 Day starts with Annual “insufficient data”; plan doesn’t work upon before joining;
checking accounting &  Short term planning: everything comes as a  At least 3 contingency therefore G&O
sales reports Monthly, weekly & calculative guess plans for the most discussed & agreed
 Routine meeting with daily  Financing challenges probable 3 outcomes upon
procurement,  Dynamic market, so no  Regulatory Challenges  Often unforeseen  Monthly progress
operations scope for very long outcomes/situation meeting; KPI evaluation
 Some dedicated time term planning appear; contingency  Every employees’
for gaining industry  What guides the doesn’t work then; contribution is
insights planning is the what works is quantified & measured
 Out of office visits if organizational vision improvising in such against set standard
needed cases
 Still active when not
physically in office
 Decision Making
Decisions to Decision Ensuring Participation Avoiding
take making process Participation always better? Conflict

 Short Term: Issue  Brainstorm Meeting  “Participation brings  “Ideology : putting the
Identification
Procurement, Working access for everyone perspectives, firm above your ego”
capital management,  Flat organizational perspectives begets  Constructive conflict is
Info
hiring, emergency Collection structure: Easy access opportunities; But in healthy if it is based on
situation handling, to top management emergencies you strong opposing logics;
dealing with suppliers Alternate  Appreciation of good require speed & agility then the best way to
Identification
 Long Term: Financing ideas, no ridicule for not lots of resolve conflict is
decisions, bad ones perspectives” debate
Alternate
Expansion/Business Evaluation  Broad participation can  What’s important is not
Development decisions, delay decision making to avoid conflict, it is to
policy making Implement often; selective ensure conflict whilst
participation is better decision making
in such cases doesn’t persist after
Feedback
the decision making
 Leading
Motivating
Employees
 Extrinsic: Salary, Increment,
Bonus, growth opportunity
 Intrinsic: Recognition,
Participation opportunity
 Ensuring healthy working
culture: By building a
collaborative culture;
Skills of Skill Development
Future Leader Development of team
 Biggest trait is Students in academic life  Regular training &
“Attention to detail” should – feedback
 Other necessary skills  Participate in debates  Flat structure, no
are: Vision,  Participate in various designation – show
Communication skill & business competitions work & climb up
Relationship  Should have a clear  No firing – you either
management purpose of what he go up or stay where
wants to do & have a you are
clear priority list
 Communicate with
people from different
spheres
Controlling

Giving
Giving
Negative Negative
Feedbacks Feedbacks should be Feedbacks feedbacks should
frequent; whenever be given tactfully;
there is scope (both let the person
positive & negative) know the impact
of his mistake

Feedbacks should
be given in the Being direct;
way it works for Giving chance to
that particular rectify the mistake
person
Future Challenges
Upcoming Challenges
Being an Ethical manager in Bangladesh

Coping up with dynamic industry movement

Understanding changing consumer behavior

Preparation to face challenges

Having a clear picture about the industry dynamics

Understanding consumer behavior of the market

Ensuring personal code of ethics cohere with organization’s