Square Pharma Essay
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 …show more content…
At first they go for the SWOT analysis against the regulatory requirements for doing business in foreign market. After doing the SWOT analysis they tried to find out which country is suitable for doing business. Then thy go for analysis on market dynamics, GDP of that country, expenditure and the major competitors. After all the analysis then they started to find partner with whom they can do business over there through internet, embassy and a global importer directory. Square try to convince them by sending e-mail. If they are not responding then square maintain thses sequence fax-phone calls-direct mail. Square has some set questionnaire regarding brand, strategies, business criteria of that company, company’s focus, registration policies, import policies. After all the analysis they compare among the companies and then decide with whom square will go for. Currently square is operating in 34 countries all over the world.
➢ What are the initial products?
Square initially started their export with three types of products.
• Anti-Alser (neotec, seclo)
➢ Did Square use any intermediaries?
They had used intermediaries like bank, shipping.
➢ What are the home and host country obstacles?
Square pharmaceuticals had faced a lot of obstacles in both home and host country. In the home country they have problem regarding-
• Poor country image.