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What has Coronavirus taught the Business World? | COVID-19

The outbreak of COVID-19 turned the world upside down. In terms of job loss, shutting down of businesses, creating unemployment, increasing mental trauma & looming depression almost everywhere because of the deadly Coronavirus. Things were secure a few months back, are highly insecure now. The devastation of Coronavirus impacted all the classes of people in a society. Not only the individuals but the business organizations also learned some lessons from this mighty Corona. It brought havoc to the lives of people mostly who are jobholders. The medium-scaled business organizations with average profit also have affected because of the virus. Business Haunt has showcased here 5 prime lessons that Coronavirus bring with for the business and us,

1. Uncertainty is the only certainty

This attack of Covid-19 or Coronavirus was a cry of another country to many people residing out of China. It spread badly to other countries in different locations within. And, this cry turned into long-lasting suffering for all countries. In this era of global connectivity, it is obvious that just a single business can not get isolated. In some way or another, because of the wave & pattern of international business, all other business has the same effects too. So, when Coronavirus origins in one country spread throughout the world within days; kill people, and people have to stop working and save themselves being locked at home silently. Then life is only uncertain which is the lesson we get. A stable country that depends on foreign trade suddenly faces the stoppage of work that gets longer with time.

2. Diversity of skills is a saver

When you realize that organizations are stopping their core functions, quitting, or shutting down their operations & outlets for COVID-19; you just feel that sustaining through it is a big challenge. Cause, raising family, and living a healthy family life by the only income of the job holders is at the stake Coronavirus curse. Some people just cursed themselves for not being skilled in other areas; as to survive in a tough time, other expertise comes in handy. This pandemic taught us that no job is secure. No matter how rich you are, or how influential you are, if you have involvement with any organization; & that organization ceases to work then it’s all pointless. So the new normalcy today is becoming skilled in more than one area. So that in an emergency if a job is lost, an entrepreneur can be an option.

3. Think the unthinkable

We have observed disasters & survived through it in our lifetime. None of them lasted this long like COVID-19, be it a manmade disaster or natural one. Nobody could imagine the spread of Coronavirus would be so fast. And it will have such a slow poisoning impact on business & people associated with it. The lesson that is apparent is – never underestimate the probability of a disaster. And, the worst-case scenario should be considered with all extreme negative consequences. Today established business houses are out of operations and thousands of people are jobless. People having the deepest frustration in their life about surviving through it with family without a job or stable income. So if we can consider the magnitude of disaster we can prepare accordingly.

4. Being tech-savvy is mandatory for all

Coronavirus made it physically impossible to go to the office. And, risking the life of everyone will not be a good idea for the sake of business; the only option left to continue is online. Employees though are adept in technology today but this advancement & liking for technology is selective among them. For example, not everybody likes to know or happens to work with every kind of software or hardware. This Covid-19 situation makes people selective about learning & working with apps. But Corona taught us that in online operations, we all need to work via different technologies, apps & platforms. Whether someone is skilled or not oriented with, it does not matter. As to survive & to be in the flow; not only you have to learn it but also be handy with it. You need to be pro at working with all different platforms lead by advanced technology.

5. Get used to with less

Natural disasters will not tell you when he will hit. And, you will have no idea when he will go away. You are stuck at home or some shelter center, life gives you a lesson, – ” wish I could save more; wish I could purchase less luxury items, and wish I had not spent my idle money on frivolous shopping”. These thoughts teach us that it is essential to become used to running your life with less than regular expected standards. Tiny savings of today will save big time tomorrow if some disaster consumes us. When income is at stake, saving is the saver.

The lessons learned from Coronavirus will stay with us because; all of us who survived till now will never be able to forget the impact of COVID-19 had on us. When the business world is at risk, thousands of lives feel the tragic consequences. Cause, every business has many stakeholders such as investors, employees, families, and their relatives. The income obtained by the job or business is spent to fulfill the family’s needs. But if we can take the lessons, acts based on that & always keep some provision for an alternative plan to pursue as livelihood, we can hope to survive.

Author:  Abu Md. Abdullah 
Assistant Professor 
Faculty of Business Administration 
Eastern University, Dhaka, Bangladesh.
Email: abdullah@easternuni.edu.bd

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Business Stories

Future of IT in Bangladesh

Information Technology ( IT ) has changed the world in modern days. IT is the special use of computers to store, extract, transmit and manipulate data or information. IT is considered as a subset of Information And Communication Technology. Humans have been storing, extracting, transmitting and manipulating data or information as a written format since Mesopotamia. Modern day technologies have upgraded the system and made unlimited storage. 

Over the last 7 years, the offshore IT market of Bangladesh has grown at a good rate. In fact Bangladesh has already become one of the best places for IT players in recent years. With the ability to operate at least 20-30% lower cost than any other countries of South Asia, Bangladesh gives a large entry-level workforce. 

The IT industry in Bangladesh helps the national economy a lot. This industry not only helps the national economy but also creates a prestigious position in the global market. The domestic market size was US$ 0.9-1.1 billion in 2017. But in 2020 the size is US$ 2.3-2.6 billion and the income is increasing. As a result the government of Bangladesh has given their interest in this sector already. Bangladesh has a large population and they are really interested to work in this sector. On the other hand, the cost of working in Bangladesh is really less than other Asian countries like India, Philippines, Pakistan etc. So the present state of IT industry in Bangladesh is really good. 

An IT based company wants a lot of things and Bangladesh is completing those wants. Supply of electricity is the first basic wants of a company. Bangladesh is producing as much as electricity. So there will be no load shedding in future. Then Bangladesh is connected with SEA-ME-WE 6 fibre cable. So the internet speed is good enough and increasing day by day. An IT company  needs that type of internet speed. 

Bangladesh is a country where anyone can build a business and carry on that. People easily get attached with those products. An IT company produces software, cloud computers, databases etc and people of Bangladesh always accept them properly. So the foreign investors are finding interest in investing in the IT sectors of Bangladesh. As we can see, the future is really bright for the IT sector. 

Moreover the government will make 100% corporate tax exemption till 2024 and 80% VAT exemption on rentals and utilities. The Bangladesh government is setting up 25 high-tech parks and software parks across the country.  The decision ‘50% personal income tax reduction for foreign employees for 3 years’ has given a wide range for the foreigners to work with this country’s people. 

Every year a lot of students are completing their graduation, post-graduation degree and trying their best to get a job. Unfortunately there are not enough job opportunities in Bangladesh. In this case the IT sector  is creating a big space. In an IT company an employer doesn’t need to be physically present. So he/she can work from a long distance. 

Bangladesh is mainly focused in the USA and the UK based IT sectors. Now the situation is changing and other rich European countries are also beneficial for the future of Bangladesh. So Bangladeshi IT companies are searching for the future market for Bangladesh in those countries.  

Bangladesh has limited liabilities but if the people utilizes these properly, the situation will improve. Bangladesh has the potential to play multiple roles in the service delivery portfolios of global companies. Bangladesh can be called a hub for the regional market. As the domestic market is poised  with remarkable growth, the government as well as private sectors will invest a lot in the IT industry in future. So the future of this industry is really on top of the mark. 

Bangladesh offers a compelling blend of quality talent at a lower cost with a risk profile much lower than commonly perceived. The proposition is further accentuated with sensible government support to boost foreign investments. Bangladesh has positioned herself as a strong contender for companies appraising locations for the next wave of cost arbitrage.  There are certain challenges regarding infrastructure, talent adjustability and data protection. However the government and industry have adopted bold measures to assuage their impact and create a harmonious ecosystem for the growth of the IT sector. It is important for companies to consider  Bangladesh to understand the nature of risks that exist and how they compare with other peer emerging locations in order to make an informed decision based on the ability to manage or mitigate such risks.    

Written By

Md. Istiak Ahmed
Faculty Of Business Studies 10th Batch
Department Of Management
Session: 2019-2020
Mawlana Bhashani Science And Technology University, Santosh, Tangail.

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Top 10 Global

Top 10 Tiles And Ceramics Companies in Bangladesh

top 10 tiles and ceremics companies in bangladesh

In Bangladesh, people use tiles and ceramics to decorate their houses, gardens, and office premises, and to add an extra layer of beauty to the buildings. Tiles and Ceramics Companies are silently booming in Bangladesh and there are a number of tiles and ceramics companies who are doing great over the years in Bangladesh. Under a trade body named Bangladesh Ceramic, Manufacture & Export Association (BCMEA), Bangladesh has international standard export-oriented companies of tiles and ceramics too. The tiles and ceramics of these companies are really good. All of these companies are showing their abilities to beat the competitive market. We have gathered here 10 Tiles and Ceramics Companies in Bangladesh.

Source: The Daily Star

List of Top 10 Tiles and Ceramics Company In Bangladesh

1. DBL Ceramics Limited

DBL Ceramics Limited is one of the leading ceramics tiles manufacturers in Bangladesh. At the end of 2016, DBL started its operations and in this short period of time using creativity and unique design, this company has come a long way. This company is passionate about continuously learning, growing, and serving and they always care for its customers, associations, stockholders. The products of this company are Polish, Porcelain, Wall Tiles, Technical Porcelain, Decor Tiles in various designs as well as shades.

Address: 2nd Floor, House 10, Road 04, Gulshan-1, Dhaka 1212, Bangladesh  | Phone: +880-2-9127574

2. PORCELANOSA Tiles Bangladesh

Porcelanosa Grupo is a Spanish brand. In association with Nupami Bangladesh Ltd. Porcelanosa had launched its product in Bangladesh. This Spanish multinational brand offers a large range of products to the customers and their products are really world-class. The main products of this company Floor Tiles ( ceramic stone, ceramic parquet, porcelain tiles, anti-slip flooring ), Wall tiles, Kitchens( kitchen furniture, kitchen taps), Bathroom Equipment Solutions ( rain shower, shower rings, bathroom taps, bathroom accessories) 

Address: Nupami BD Ltd. 40/7 North Avenue, Gulshan-2, Dhaka-1212. Bangladesh. | Phone: +88 01793 5677404 | Website: bd.nupami.com

3. BRAVAT Bangladesh

BRAVAT is a German multinational company and committed to building an elegant style with premium quality. This company always keeps its eye on their customers to know the customer’s tastes so that they can make the best product. This sanitary ware manufacturer company which produces luxurious, stylish, charming, brightening products like an electronic faucet, magic cube, square round, countertop basin, semi-recessed basin, under counter basin, intelligent toilet, bathtub, bath furniture, shower enclosure, etc are favorite to their customer.

Address: Dahmashi Trading Company Limited, House 34 (First Floor), Road 19/A, Block E, Banani, Dhaka 1213, Bangladesh | Phone: +880 2 9840545, 9820909 | Website: www.bravat.com.bd

4. MIR Ceramic Ltd

Mir Ceramic Ltd is a Bangladeshi company. This company is one of the leading ceramic and porcelain tiles manufacturer companies in Bangladesh. This company was established in 2001. In 2002, this company started commercial production. Italian brand SCAMPI has provided all the machinery for this company. This company produces porcelain tiles, ceramic wall tiles, granite floor tiles, homogenous stair tiles, industry tiles. Another special product of this company is Mir polished tiles.

Address: House # 13, Road # 12, Dhanmondi R/A, Dhaka – 1209, Bangladesh. | Phone: +88 02 8110131

5. Great Wall Ceramic Industries Ltd

Great wall ceramic ltd is the largest tiles and ceramic manufacturer of Bangladesh. The world-renowned Thai brand name COTTO in association with Bangladeshi brand CHARU used to run this company. This company is enriched with various designs and technologies. This company serves the desire of the customers. Quality products and best service to the customers, employees working environment is good, profitable, and responsible growth are the vision of this company. Different sized ceramic wall tiles, rustic wall tiles, homogenous, homogeneous & porcellanato print, décor, and border are the product of this company.

Address: 28, Navana Zohura Square, Kazi Nazrul Islam Avenue, Bangla Motor, Dhaka – 1000, Bangladesh. | Phone: +88 02-55168031| Factory Address: Gilarchala Sreepur, Gazipur, Bangladesh.

6. China-Bangla Ceramic Industries Ltd

China-Bangla Ceramic Industries Ltd also known as CBC Tiles is one of the top ceramic manufacturing companies. It was founded in 2001. It is a joint venture in private between Bangladesh and China. This company has sophisticated technology which helps them to produce quality products. This company is successfully producing a wide range of ceramic wall tiles, floor tiles, decor tiles, glazed porcelain tiles, border tiles, homogeneous tiles.

Address: National Plaza (4th & 5th floor), 109, Bir Uttam C. R. Dutta Road, Dhaka-1205, Bangladesh. | Phone: +88-02-9668278-9 | Factory Address: Tarabo, Rupgonj, Narayanganj, Bangladesh. | Phone: +88-02-7453908 | Showroom Address: Noorjahan Bhaban (1st floor), 23, Poribag, Hatirpool, Dhaka-1205, Bangladesh. | Phone : +88-02-9612986

7. Akij Ceramics Limited

Akij Ceramics Ltd is a Bangladeshi company. It was established in 2012. Since the establishment, with hard work, innovation and patronage from the customer, this company is getting stronger. Nowadays, this company has become one of the strongest players in the tiles industry of Bangladesh. This company uses international standard machines to make products best from all. Wall tiles, homogenous floor tiles, ceramic floor tiles, porcelain printed floor tiles are the main product of this company. This company also produces a premium bathroom and kitchen tiles called VANITA.

Address: 4th floor, Akij House, 198, Bir Uttam Mir Shawkat Sarak, Gulshan Tejgaon Link Road, Tejgaon, Dhaka-1208, Bangladesh. | Phone: +880 1755621492-3 | Factory Address: Trishal, Mymensingh

8. RAK Ceramics (BD) Ltd

RAK Ceramics is a multinational ceramics tiles manufacturer. This company is situated in the UAE. In 1998, UAE-Bangladesh joint venture project named RAK Ceramics (BD) Ltd started running under the rules of a private limited company act 1994. This company is one of the leading ceramic solution lifestyle providers. Using the experience, the product range of this company has enlarged a lot. Ceramic wall and floor tiles, décor and borders, junior tiles collection, rustic glazed tile, industrial tiles, grease porcelain tiles, sanitary ware are the main product of this company. Different types of accessories like paper holder, urinal bowl, towel rail, shelf, bidet, soap case are also made by this company. 

Address: RAK Tower, Plot#1/A, Jashimuddin Avenue, Sector # 3, Uttara Model Town, Dhaka – 1230, Bangladesh. | Phone: +88 02 8917393

9. Star Ceramics Bangladesh Limited

Star Ceramics Bangladesh Limited was founded in 2012. This is a Lebanese Bangladeshi joint venture ceramic tiles and sanitary ware manufacturing company. This company always keeps its focus on the quality of the products, customer satisfaction, and various innovative designs. This company makes world-class products by understanding the customers’ needs and requirements. Enriched with the latest technology and modern equipment, this company makes tiles and sanitary wares.

Address: Star Ceramics Limited. House # 44, Road # 10, Sector # 11, Uttara, Dhaka–1230, Bangladesh. | Phone: +88 02 8950384

10. X Ceramics Ltd

X Monica is The Italian Brand Tiles. Established in 2008 in Bangladesh, this company has become one of the leading tiles manufacturers in Bangladesh. A large amount of research, customer interaction, and a good production line has helped this company to establish in Bangladesh. The main fact is that this company adopted cutting edge technology which helped this to overcome a large distance in the market. Wall tiles, floor tiles are the main product of this company.

Address: Index Point, Road 12, Plot 34, Baridhara Diplomatic Zone, Dhaka – 1212, Bangladesh. | Phone: +88 01755-555133

Sources: Wikipedia, Bangladesh Business Directory

Contributor: Md. Istiak Ahmed | From Mawlana Bhashani Science and Technology University

Note: These are not Official Ranking From Any Established Authority. Business Haunt Picked Them Randomly and Placed on the Base of Popularity and Internet Source.

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