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Messages - Rozina Akter

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Human beings are compiled with tons of emotions. These emotions can be of happiness, of depression, of love, of frustration and of various other kinds of mental states. Employees of any organisation are human beings who work to contribute to the economic system of the nation and to improve individual lifestyle, living standards. In a word, employees are considered as working tools by the organisation. 

Human beings cannot avoid emotions and therefore, employees deal with their emotions in their working life. Their emotions are influenced by individual perceptions, ideologies, believes and concepts. Variations of these thoughts often lead employees to various conflicts. Conflict can result in internal anxiety, peer tension, unhealthy working atmosphere and ultimately frustration.  There are several conflicts that arise in any organisation either in an inter personal level or in an intra personal level.  An employee struggles to survive in an organisation to go through these conflicts, handles these in a professional manner to get rid of any sort of conflicts as well as to keep the working environment conflict-free and healthy. 

Many factors and reasons are related to these employee frustrations. These factors are important to be chalked out at first, to be understood properly and to be minimised or effaced gradually from the working atmosphere. When percentage of frustrated employees arises in an organisation, the organisation takes measure to minimise the intensity because it is an alarming situation for any organisation.

Frustration can be segmented into two new categories:

1. Process frustration:  A process frustration occurs when a person continuously feels blocked in a major area of life, such as learning, work, or love.  For example, insufficient salary and benefits at work creates the frustration in Mr. X.

2. Episode frustration: An episode frustration consists of a temporary impeding problem or condition. For example, initially Mr. X was happy at work, but gradually his supervisor's inconsistent, irrational and biased behaviour made him unhappy and gradually frustration caught him in the process.

Here in terms of any organisation and its various polices, this writer wants to present a case where an employee can be demotivated to severe level and finally can get frustrated in various ways:

Ms. X joined in a reputed telecom company as an executive right after her graduation. She has an urge to prove  herself and reach to her final goal. When this employee is slightly appreciated, or recognised for her work, she feels a drive to thrive for more. That person would require some extra benefits with good amount of Key Performance Indicator (KPI) and performance bonus along with some sound amount of increments or even a promotion. Let us assume the final destination would be to hold a top position from where she can lead the entire organisation with her vision. But, here the hindrances occur, and the barrier can be organisation's frequent policy changes that will make the employees like her rethink their career goals within that organisation.

However, despite Ms. X's dedication and sincerity at work, if she has not been promoted or does not receive the implied incentive from the organisation after a year then she would feel this as an extreme barrier to reach to her personal goal, which can be the topmost position or CEO of the company.

Some of our biggest frustrations in life can come from our work environment. It may be work that is unfulfilling, co-workers that we have difficulty getting along with, or demanding organisational structures that seem to strip us of our time and suffocate our passion and creativity. We so often refer to this complex and stressful situation with a blanket term like 'career burnout'. There are other obstacles such as inadequate training and training that is not aligned with business goals, lack of equipment to do their jobs, lack of a clear understanding of goals and objectives, lack of a shared understanding of priorities, not knowing boundaries of decision-making authority, ineffective work processes, work structures not aligned with business goals etc.

The mantra of 'doing more with less' has become the norm as business continues a slow recovery from the economic recession of the last several years. Employees who once feared losing their jobs are now feeling insecure about keeping their jobs. If managers truly want to retain the most engaged and committed employees, they must remove obstacles that cause frustration.

BBA Discussion Forum / Re: Investment in human development
« on: May 18, 2017, 11:45:20 AM »

BBA Discussion Forum / Investment in human development
« on: April 26, 2017, 12:24:31 PM »
Big investments in education and training are prescribed for countries like Bangladesh where infrastructural facilities are not adequate. Since the SDGs are set for 2030, there should be a paradigm shift in development with special attention to education and training
Investment in human development is by far the best option open to all countries -only more so to the developing nations. Bangladesh now aims high in terms of economic growth. After the Millennium Development Goals (MDGs), the country has now set its sight on successfully achieving the targets as laid down by the United Nations under the Sustainable Development Goals (SDGs). It is exactly in this context, the imperatives for further investment in human resource development have come to the fore. At a seminar titled, "SDGs and Voluntary National Review (VNR) in Bangladesh: Perspective Citizen Participation", the speakers advocated for planned investment in human capital for inclusive growth. In a country with an oversize population, an effective demographic plan should receive top priority on its own -no matter if there is a vision for SDGs or not. The SDGs only provides a sense of purpose with the goals clearly drawn and analysed.

Now the next step is to decide on the ways and means to achieving the targets within the stipulated time. At the seminar emphasis was put on working out strategies and action plans for achieving the targets. First, institutional capacity building proves crucial in this regard. The civil society has asked for 'enough space' to participate in the development process. Their inclusion is not a debatable subject because of their privileged positions. Even more crucial is the capacity building of people belonging to the underprivileged and disadvantaged segment. This points at the priority areas of investment. Surely education should figure at the top of the list. The current investment of 1.9 per cent of the gross domestic product (GDP) in education falls far short of the need. No wonder Dr Qazi Kholiquzzaman who presided over the seminar suggested at least an investment of 17 per cent of the GDP in human development.

The reason why he made such a suggestion is quite clear. Apart from quality education, which unfortunately is absent in the country now, there is need for training, research, analysis, innovation and advancement of technological know-how. All this cannot be achieved overnight and without creating institutional facilities. It is because of this, big investments in education and training are prescribed for countries like Bangladesh where infrastructural facilities are not adequate. Since the SDGs are set for 2030, there should be a paradigm shift in development with special attention to education and training.

The kind of syllabi and curricula now introduced under the general education system does not rise up to the challenges of the time. Frequent experimentation with those does more harm than good. So the need is to strengthen the format of the steps of education first. All the nonsensical experiments should be stopped in favour of imparting education of international standard. Once this done, the rest of the tasks would prove easier. For example, research, analysis in laboratory or in an outdoor environment will provide for capacity building in educational institutions. Specialised training centres will give the finishing touch to developing human capacities and skills. Thus a package will be ready for honing in on human potential.

Commerce / Diversion of IPO funds
« on: April 23, 2017, 03:19:03 PM »
Deviation from set rules has become more of a norm in this part of the world mainly due to poor governance. Practices resorted to by companies listed with the bourses are no exception. Allegations have been aplenty that a section of those have been using proceeds, mopped up through the initial public offerings (IPOs) and right issues, for purposes other than the ones mentioned in their approved prospectuses. What is more frustrating is that such diversion of funds is done beyond the knowledge of the general shareholders, who, in a good number of listed companies are the majority equity stakeholders. All concerned, including the securities regulator, were certainly not fully unaware of the unauthorised use of IPO and right issue funds. However, no action was taken to deal with such a gross malpractice by a section of the listed companies.

Against this backdrop, the Bangladesh Securities and Exchange Commission (BSEC) in its meeting, held late last week, set a few conditions for using the IPO/right issue funds for purposes other than the ones originally approved by it. This move, though a belated one, is otherwise welcome. The companies, from now on, will thus require prior approval of, at least, 51 per cent of general shareholders in a general meeting if they want to make any deviation from the approved use of such funds. Prior to holding a general meeting, the proposed changes would have to be approved by their respective board of directors and published as 'price sensitive' information with detailed description and reasons for the deviation. Then, obviously, the proposals would need BSEC approval.

None would, surely, contest the fact that deviation from approved use of IPO/ right issue funds is improper and deserves punishment. But the securities regulator had so far been not effective enough to prevent such an irregular act. It could not properly monitor the use of funds mobilised by companies from the market through IPOs and issuance of right shares. As the regulator of the capital market, it is rightly expected that it would monitor the end use of funds closely. This is particularly so, because such funds are meant for making the listed companies financially strong and enabling them to expand their operations. Now that the BSEC has set conditions for any deviation, in area of use of proceeds from IPOs and right issues, the onus is on it (BSEC) to see that listed companies do duly comply with the conditions. It is critically important that the listed companies use their funds mobilised from stock market or otherwise, prudently.

One of the effective ways of looking into the use of funds of companies is proper examination of their financials. However, the financial statements need to be properly audited prior to the BSEC's examinations. That remains a grey area until now. Unscrupulous sponsors of some listed companies can easily get away with their financial irregularities on the backing of undue support coming from the audit firms. The government has in recent years taken a few initiatives and also passed a law called the Financial Reporting Act. But some actions, including formation of the Financial Reporting Council, under it are still lying pending. Those are long overdue. The government does need to complete its tasks on a priority basis to make the provisions of the Financial Reporting Act effective. This is imperative for streamlining the operations of the country's audit firms to enable the BSEC in its work.

Real Estate / Microcredit for rural entrepreneurs
« on: April 23, 2017, 03:00:00 PM »
The joyous atmosphere, accompanied with lots of ceremonial festivities, in which small entrepreneurs are honoured these days in the capital has become a part of the nation's economic culture. It underscores a lofty goal -- patronising spirited entrepreneurship. This is essentially an urban spectacle. Set against it, the undaunted rural entrepreneurs in most cases remain unsung, except for isolated media exposures. Their ventures do not belong to the category of the institutionalised small and medium enterprises (SMEs). Beginning generally from scratch, these micro-level entrepreneurs finally make their presence felt through journeys marked by back-breaking labour, perseverance, bouts of disappointments and uncertainties. Many of them make pitiful exits being unable to face up to the harsh realities. A lot of others stubbornly remain stuck to their mission. Braving the scores of evidently present and hidden challenges, they do not give up. These struggling people are found comprising a remarkable segment of the purely self-made rural entrepreneurs.

The tale of a commercial set-up manufacturing different types of brushes in a remote village typically speaks of some youths' desperate, and also innovative, struggle for a dignified survival. Following a long risk-filled journey, they have proved their mettle in entrepreneurship. Ironically, all of them once worked for such brush factories in Dhaka. Coming back to their village, and upon setting up their own ventures, they now employ rural people in their brush-making units. Women constitute a large segment of these workers. Lately, these micro-level entrepreneurs are up against unhealthy competition. Their big institutional clients are being weaned away by smuggled foreign-made brushes, particularly from China, Taiwan and a number of other Asian countries. The new policy of these domestic buyers to go for foreign products despite their higher price has caught them unaware.  The clients point to the better-finished quality of those foreign items, a fact the brush manufacturers dismiss right away. As they maintain, if given adequate financial incentives, they too can produce quality items with costlier raw materials.

The dire straits in which the brush manufacturers have been thrust into is not unique. The hazard characterises many other such petty rural enterprises. Engaged in a desperate struggle for survival over a period, they wind up business to end up financially broken. All this speaks of the awful absence of protective financial shields that can help the grassroots business entities grow smoothly. Perhaps, it is the non-formal nature of these ventures, with no strong state endorsement, which stand in the way of their desired flourishes.

Periodic surveys conducted on village youths find them to be hardworking, dedicated and innovative. Many of them are drawn to commercial ventures on being prompted by an urge to be self-reliant. This particular factor is seen at play behind the rural women's willingness to start ventures indoors. That stimulus in the form of bank loans, microcredit to be precise, at a minimal rate of interest, for these entrepreneurs can go a long way towards helping them find a firm footing cannot be disputed. Myriad ventures ranging from producing vegetables, rearing poultry to making trinkets, toys etc., can be made eligible to government 'micro-loans', which is different from the formal microcredit programme.


BBA Discussion Forum / Return of 'seating' bus service
« on: April 23, 2017, 02:57:24 PM »
For yet another occasion, the government has succumbed to pressure coming from, what appears to be the case, all-powerful owners of private passenger bus services in Dhaka city. The Bangladesh Road Transport Authority (BRTA) suspended Wednesday last its drive for a 'fortnight'---the serious doubts remain whether it would at all be resumed anytime soon or not--- against the illegal 'seating' bus service that had been in operation for more than two decades. The BRTA was left with no option other than putting on hold its action against the 'seating' service following untold sufferings of the thousands of commuters. The sufferings were thrust upon them by bus owners as the latter had decided to keep a large number of buses off the roads protesting the BRTA drive. Many buses did charge their passengers the fares of 'seating' service, even they did allegedly operate as 'local ones' during the period of the 'short-lived' operation.

Now that the service is back, the passengers' sufferings, in terms of availability of buses, is over, to a great extent. But they are being forced to pay fares at rates higher than before for availing the so-called 'seating' service. The bus owners have become more defiant because of the government's latest 'retreat'. The BRTA is reportedly engaged now in its efforts to devise means for providing a legal coverage to the 'seating' service. Some people do suspect that the recent drive was an 'agreed ploy' of both BRTA and bus owners to make the 'seating' service legal, capitalizing on the passengers' sufferings.

There is no denying that the country's road transport sector is gripped by a sort of anarchy. The situation has never been perfect. But in the recent times, it has turned worse. The popular perception is that involvement of politics and a few powerful political elements is largely responsible for the current deplorable situation in the road transport sector. Probably, they are not wrong. Never before the road transport owners and workers were so defiant; the transport workers give a damn to traffic laws and rules and they feel little remorse for taking lives on roads and highways by their rash driving. On an average, road accidents claim 15 to 20 lives per day and the people have become habituated to taking such tragic incidents as normal happenings these days.

But things have now gone, as the developments suggest, too far and it is in need of an immediate correction. However, this is a Herculean task. The daily turnover of road transport sector is worth several billions of takas. The financial benefits accrued from it go to people beyond the sector and, thus, the vested interests are widespread. Under the present socio-political context, streamlining the road transport sector thus presents a daunting challenge indeed. One way of addressing this challenge could be the breaking the dominance of private bus owners by putting in place strong alternatives. The proposed metro rail in Dhaka city will be one such alternative. The government should also strengthen the state bus service in the capital city without succumbing to any unwholesome counter-pressure from the private bus owners. Comfortable and efficient inter-district train services might prove to be other effective alternatives. The government should work seriously in its task of breaking the dominance of an unruly band of road transport owners.

MBA Discussion Forum / Volcker rule in Banking
« on: April 20, 2017, 04:39:13 PM »
Paul A Volcker, former chairman of the US Federal Reserve, who served for eight years from 1979, is tucked away in a corner office, surrounded by books, papers and some quirky family snaps, the epitome of the academic central banker, according to a global media report Tuesday.

Today he is probably best known for inventing the Volcker rule, a ban on banks wagering their own money on trading bets which is one of the key elements of America’s post-crisis Dodd-Frank legislation.

But as Wall Street lobbyists go into overdrive to try to ensure President Donald Trump stays loyal to his repeated pledges to deregulate the financial system, many are taking sharp aim at that rule.

It is hard not to see in the crumbling corridor outside Mr Volcker’s office a sad metaphor for the impending demise of his eponymous regulation.

Among the thousands of pages of Dodd Frank legalese, the Volcker rule is at least simple in its essence. As Mr Volcker and his supporters see it, this is one post-crisis law that makes sense to ordinary people. Banks that take in customer deposits, and only a few years ago relied on hundreds of billions of dollars of government support to survive, should not be allowed to risk their own money on dangerous punts - proprietary trading in the jargon. The buying and selling of securities should only be done on behalf of clients.

BBA Discussion Forum / BB asks banks to follow BCA duly
« on: April 20, 2017, 04:30:35 PM »
The central bank has instructed the commercial banks to follow the Banking Companies Act (BCA) 1991 (amended up to 2013) duly for repaying deposited money to the nominees after death of the depositors.

Bangladesh Bank (BB) issued a notification in this connection on Wednesday, and asked the managing directors and chief executive officers of all scheduled banks to follow Section 103 of the existing Banking Companies Act properly.

The central bank issued the notification after receiving allegations that some banks are collecting undertakings from the nominees of the depositors.

The undertakings state that the nominees might not be considered eligible receivers of the deposit in case of the depositors' death, which is a violation of the instruction as mentioned in Section 103 of the Act.

"We've clarified our position regarding the matter through issuing the notification," a BB senior official told the FE.

He also said the depositors are now allowed to include the names of more than one nominee while opening their accounts.

Business Administration / Emirates cuts flights on five US routes
« on: April 20, 2017, 04:28:39 PM »
Emirates, the largest international airline by passenger traffic, said it was cutting flights on five US routes as restrictions imposed by President Donald Trump’s administration had weakened demand from the Middle East.

Since taking office, Trump has signed two executive orders banning refugees and citizens from several Muslim-majority countries from visiting the United States. Although both moves were blocked by US judges, some travellers have been deterred.

The US administration also introduced new security measures in March banning electronic devices larger than a mobile phone from being taken into aircraft cabins on direct flights to the United States from several Middle East locations.

“The recent actions taken by the US government relating to the issuance of entry visas, heightened security vetting and restrictions on electronic devices in aircraft cabins have had a direct impact on consumer interest and demand for air travel into the US,” an Emirates spokeswoman said.

“Over the past three months, we have seen a significant deterioration in the booking profiles on all our US routes, across all travel segments,” the Emirates spokeswoman said.

Rival carrier Etihad Airways said it had not seen any significant change in demand and had no plans at present to reduce flights to the six US cities it serves.

Fellow Gulf carrier Qatar Airways had no immediate comment when asked about any plans it had for its US routes.

Emirates, based in Dubai, flies to 12 US destinations and had said it aims to serve 15 US locations by 2018. Emirates Chief Commercial Officer Thierry Antinori would not comment when asked on Tuesday if that target could change due to the restrictions imposed by the Trump administration, according to media reports.

BBA Discussion Forum / Provident fund for workers in informal sector
« on: April 20, 2017, 03:57:47 PM »
There is good news for workers in the informal sector. For the first time in the country's history, workers at the bottom rung of society will be brought under a formal system of financial security coverage. Rules have been formulated for them to enjoy the benefits of provident fund (PF). Most such workers earn a pittance and the question of savings, gratuity, insurance and pension does not arise at all. The proposed scheme will open up the opportunity for them to get the benefit of contributory provident fund. Workers ranging from domestic helps to farm labourers with others engaged in odd occupations in between will be eligible for the small but significant largesse. Initially 0.1 million such workers will be brought under the proposed scheme. This will be a major step in ensuring financial security for the workers not organised enough to demand a better deal for themselves.

Not protected by the labour law, the workers will be asked to open PF accounts with any branch of the post office across the country. The rule will be simple: workers in the construction sector, welding, etc., or self-employed small earners, such as vendors and blacksmiths, will deposit Tk 100 and the government will also contribute the same amount each month from what will be known as the workers' welfare foundation (WWF). The tenure of the PF would be 25 years and in case of discontinuation of deposits before five years, the contributory portion of the government will not be awarded. In case of permanent disability or death of a worker, his/her nominee will be entitled to receive Tk 0.2 million. For any fatal disease, Tk 0.1 million will be handed over. Even there will be provision for maternity benefits for female workers.

A financial programme such as this certainly has a bright prospect if it is run sincerely and efficiently. The motivation part of the exercise will, however, prove crucial. Once they realise that the government does care for them, they will readily respond most positively. However, there will be some practical problems involving opening accounts particularly when functional literacy of many of these workers is in doubt. Also, chances of irregularities and manufacturing account holders cannot be ruled out. Instead of the target people, others may take advantage of the generous scheme.

So, there is need for launching a social awareness campaign so that the most eligible segment of the population can take benefit of the PF scheme. Here the post offices should develop a foolproof mechanism in order to screen out the ineligible from the genuine candidates intending to open accounts. Now that every citizen is entitled to a smart card, the distribution of this among the population well before the start of the scheme can help the cause. Not only will this special identity card be of help in removing any confusion over a person's picture and other details but also in tracing him or her if needed. Let the scheme take off with the objective of dispensing at least some amount of social justice.

Business Administration / Re: Challenges posed by internal migration
« on: April 20, 2017, 03:26:16 PM »
thanks for sharing

The rising non-performing loans (NPLs) and excess liquidity have become major areas of concern for the country's banking sector.

Besides, the number of large loans is also on the rise while the amount of credit received by small and medium enterprises has declined.

The revelations were made on Tuesday by speakers at a workshop on 'review of credit activities in 2016'. The workshop was organised by the Bangladesh Institute of Bank Management (BIBM) at its auditorium in the city.

Deputy Governor of Bangladesh Bank (BB) Abu Hena Mohd. Razee Hasan was present on the occasion as the chief guest.

BIBM Director Dr. Prashanta Kumar Banerjee presented the keynote paper at the workshop with BIBM Director General Dr. Toufic Ahmad Choudhury in the chair.

The workshop was told the NPLs in the banking system stood at 10.10 per cent of the aggregate amount of loans until June 2016 compared to 8.8 per cent as of June 2015.

Terming the pace at both NPLs and excess liquidity were growing a cause of concern for the banking sector, Mr. Razee said the central bank already took some steps to minimise the risks of banks.

Speaking on the occasion, BIBM supernumerary and former managing director of Pubali Bank Helal Ahmed Chowdhury said since recovery of default loans is a time-consuming process, the option of alternative dispute resolution (ADR) can help address the problem.

He also suggested establishment of a data bank like CIB (credit information bureau) of Bangladesh Bank for getting information on properties to be mortgaged for sanctioning bank loans.

In his speech, another BIBM supernumerary, Md. Yasin Ali, said that the NPLs in the state-owned banks accounts for about 40 per cent of the total while it is only 1.0 per cent in foreign banks operating in Bangladesh, a big difference.

In his keynote paper, Dr. Prashanta suggested enhancement of credit flow to rural areas side by side with the urban areas.
source: financial express

BBA Discussion Forum / Investment in Entrepreneurship
« on: April 16, 2017, 06:51:35 PM »
The difference between information and communications technology (ICT) literacy and education on the one hand and the lack of it, on the other, will divide people in two broad categories where the latter will lag behind in income and living standard
Given the confident growth of the country's agro industry of late from its tentative start decades back, the sector is now making increasing demand for investment. The paucity of fund for agro-processing industry and its sub-sectors has been a major constraint to its further expansion. It should be noted that most of the agro-processing ventures fall under the category of small and medium-sized enterprises (SMEs). An allocation of only Tk 2.32 billion as against a total demand for Tk 20 billion until January 31, 2017 clearly indicates the yawning gap between the demand and availability. So the Bangladesh Bank (BB), of which brainchild the fund is, has been forced to ensure availability of Tk 6.0 billion for the fiscal year (FY), 2017-18, for implementation of agro-based projects. The fund will still be short of the requirement but at least it will be a substantial rise on the amount made available for the current fiscal.

As things now stand, the BB handed over the responsibility to the Investment Corporation of Bangladesh (ICB)-managed Equity and Entrepreneurship Fund (EEF) in 2009 after running the show itself since the fund's creation by it in the FY 2000-2001. The purpose, as evident from its title, was to inspire and create entrepreneurship and generate employment at the grass-roots level. No doubt, some progress has been made in that direction but it is far from the desired shape and size. Along with agro-processing, information and communications technology (ICT) at this level was in focus. So, simultaneous investment was made in order to reap as much benefit as possible from this sector as well. Almost double the amount (Tk 4.06 billion) was earmarked in the current fiscal for this sector but sadly not adequate number of qualified and competent entrepreneurs was there to receive funds under this head.

This brings to the fore the grim reality of not making a proper assessment of the situation obtaining in the country. When there are more entrepreneurs lining up for credit than the ICB can serve in the agro-processing sector, there are not sufficient number of fund receivers in the ICT division of the venture. Still more worrying is the fact that the country is unable to produce a large number of aspiring techno-savvy young men who could take charge of expediting the process of digitisation in the country's vast rural areas. The difference between ICT literacy and education on the one hand and the lack of it, on the other, will divide people in two broad categories where the latter will lag behind in income and living standard.

In a situation like this, the demand obviously will be more for greater investment in the agro-processing sector. No doubt, under the prevailing condition, this sector certainly merits more funds because competent candidates are there. But this does not mean, the fund allocated for ICT should be slashed. In fact, ways have to be found out for producing more and more young techno wizards, expenditure notwithstanding, who can speed up the expansion of ICT at the grass-roots level. The sooner this is done the better for the country.     

BBA Discussion Forum / Re: Financial concepts for all
« on: April 16, 2017, 06:47:08 PM »
thanks for sharing

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