A Project Report

On

RFL Electronics Limited

(REL)
Course Name: MGT 210
Section: 11

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 Prepared for:
Mahtab Muntazeri
Lecturer, North South University
Prepared by:
Name ID Serial No.
Hizbur Rabbi 1711751630 17
Md. Munjaber 1721968630 29
Kashem
Sunjiya Siddiqua 1631152030 12
Zawad Ahmed 1722219630 32
Md. Mahmudur 1711012630 16
Rahman Naim

Letter of Transmission

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Date: April 24, 2018

Mahtab Muntazeri

Professor

Department of Marketing,

School of Business and Economics,

North South University.

Dear Sir,

Here is the final report of the RFL Electronics Limited. We did this on your instruction and
described the company as much possible. We would like to thank you for offering the
opportunity to work on this topic. Despite many limitations, we have tried our best to make this
report accurate and reliable.

We have enjoyed preparing this report and have come to know some interesting facts about the
structures and framework of the company. If you have any further enquiry concerning any
additional information, we would be very pleased to clarify that. Thank you.

Sincerely,

1) MD Munjaber Kashem

2) Hizbur Rabbi

3) Sunjiya Siddiqua

4) Zawad Ahmed

5) Md. Mahmudur Rahman Naim

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 Acknowledgement

This report has contributed to a major accumulation to our knowledge of the topic. We take this
opportunity to express our profound gratitude and deep regards to our course instructor Mr.
Mahtab Muntazeri Sir, for his exemplary guidance, monitoring and constant encouragement
throughout the course of this thesis. He gave us moral support and guided us in different matters
regarding the project completion. He has been very kind and patient, while suggesting to us the
outlines of this project, and correcting our doubts. We thank him for his overall support and care.
The blessing, help and guidance given by him time to time shall carry us a long way in the
journey of life on which we are about to embark. We are really grateful for his co-operation
during the period of the assignment. We all supported each other, for what we have completed
our project effectively and moreover, on time. To make the completion of the project possible we
used information from various sources. We took help from the esteemed online search engine,
Google.

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 Table of Content

Content Page no.

Executive Summary 6

Introduction: Company profile, Financial 7-8

Statement

Mission & vision, Company organogram 9-10

Situation analysis, SWOT analysis 11-14

Management issues 15-16

Porter’s five forces 16

HR policy, IT, Product 17-18

Organizational culture 18

Objectives of company 19-20

Motivating employees: Payment and bonus 20-21

schemes

Credentials & CSR policy 21

Conclusion 22

Reference 23

Executive Summary

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The purpose of this report is to analyse a company named RFL Electronics. It is a concern of
PRAN RFL Group. RFL Electronics is a private company in Bangladesh and was established in
2012. In this report, several analytical measures such as mission statement, financial statement,
factor analysis, SWOT analysis, management issue, company objective, HR policy, leadership,
company organogram have been used in conducting a managerial analysis for the company. The
report also contains the analysis of managerial structure of RFL Electronics. It contains details
analysis of overall operational plan and strategies of this company.

The RFL Electronics started its operation and production in the year of 2012. It is a trusted name
for home appliance, television, air condition, cables, fan etc. It has 4 different brands: Click,
Bizli, VIGO & Vision. Bizli is a brand for cable, Click for electronic accessories, Vision &
VIGO are the brand for home appliance electronics items. All these products are supported by
prompt customer service & replacement warranties. PRAN RFL has factories encompassing an
area of 60,000 square meters which is fully equipped with state of the art injection modeling
machines and industrial robots. All products of RFL Electronics are manufactured in own
factories and it has six different factories including RIP, HIP, PIP. It offers durable product in
affordable price. It has become a benchmark for competitors on the lines of quality. In present
days, it has earned people credibility and considered as one of the most desired and trusted
brands in Bangladesh

Introduction

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RFL Electronics is a concern of PRAN RFL Group and it is owned by this diverse group. RFL
Electronics has started their business activities from 2012. It is a growing company in electronics
and electrical business and trying to make impact in technological advancement of Bangladesh.
It has 4 brands of electronics accessories: Bizli, Click, Vision, Vigo. There are more than 100
products produced by them. RFL Electronics has around 200 employees who are working to
achieve the company’s missions and visions.

Company Profile

Name: RFL Electronics

Factory Area: 400 acre Area

Business Types: Electrical product, Electronic accessories

Head Office: Pran-RFL Center Middle Badda, Dhaka

Current CEO: Ahsan Khan Chowdhury

Employees: More than 200

Products: More than 100

Dealer: More than 5000

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 Summary of Financial Statement

● The company is performing well financially, though it was established on 2012.

● It has huge number of corporate clients which are faithful and have good relationship
with the company.

● The company now doing profit and the rate of profit is increasing day by day.

● Its profit margin is now high.

● It has 8% market share and plans to increase it to 30% by 2020.

● Furthermore, being a private company, it has vast opportunities in increasing its

partnership with other brands and organizations, hence regulating a financial increase for
the company.

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 Mission and Vision

RFL Electronics intensely started marketing from 2012 for Electrical Products and Consumer
Electrical goods. RFL Brand name gives a stand of assurance for Good Quality of the Products.
These Products are produced from the Best Quality Raw Materials in very Precise Quality
Control process in Every Stage. Company’s Vision is to fulfill the demand of this large number
of population. Bangladesh is a Country where one fourth of the total population of the country is
involved directly or indirectly for electronic Goods. Its Mission is to give best Priority in
fulfilling the demands of the customers.

RFL Electronic Company’s Mission is to reflect what they want to create employment in the
nation. By which they want to eradicate the Poverty of Bangladesh. Their main goal or Mission
is to generate employment in whole Bangladesh to earn self-respect and earn dignity for the
citizen.

Company’s Vision has a similarity with the work they do that diversifying their products and
making employments for developing Bangladesh. Their vision is Improving Bangladesh Day by
day. Their Vision in to increase market share and capture huge market share. To establish portion
in domestic market strongly. To have a technological and distinctive improvement in Production
Sector.

Their core visions are:

➢ Increasing market share and capture the large market share.

➢ Establishing position in domestic market strongly.
➢ Take all brands of RFL Electronics in top position individually in own sector.
➢ Technological & distinctive improvement in production sector.
➢ Entering in international market.

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 Company Organogram:

CEO

Director

Executive Director

Sales Marketing Account & Finance HR & Admin

Manager Manager Manager Manager

Deputy Manager Deputy Manager Deputy Manager Deputy Manager

Assistant Manager Assistant Assistant Manager Assistant Manager
Manager
Sub Assistant Sub Assistant Sub Assistant
Manager Sub Assistant Manager Manager
Manager
Management Management Management
Trainee Management Trainee Trainee
Trainee

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 Situational Analysis

There are a lot of factors that can have a collision with business. These factors also can affect the
stability of the business. These have an impact on the ability to achieve the company’s goals and
objectives. The factors include competitors, suppliers, pressure groups and social, technological,
economic, demographic, political conditions etc. Some important factors that affects RFL
electronics are given below:

➢ Competitor: Competitor is one of the most vital issues that can affect business a lot.
As a growing company, RFL Electronics faces a large number of strong competitors
which are trying to rise up and increasing their market area. The key thing is,
controlling competitor is not possible. So, competitors are influencing a lot as an
external factor. RFL Electronics’ competitors are Jamuna Electronics, MyOne etc.

➢ Political: Politics always has a way to make an impact in business. Bangladesh is the
host country of this company and its political climate is unstable. But as a legal and
government conforming firm, RFL Electronics get competent environment for doing
business.

➢ Technological: Technological changes are the most rapid changes that have occurred
in the past-quarter century. RFL Electronics always tries to adapt with those changes.
They improve their products with the inclusion of the latest but affordable
technology, which attracts the customers.

➢ Economical: World economy and country economy both affect business a lot. As
Bangladesh’s economical condition is not that much high, people don’t buy expensive
product. But they obviously search for quality product. RFL Electronics provides
quality product to their customer in affordable price.

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 SWOT Analysis

Strength Weakness

● Loyal customers ● High transportation cost

● Moderate price ● Internal promotion strategy
● Experienced employees ● Lack of better control
● Vast source of finance

Opportunities Threat

● Position in global market ● Large local competition

● Great demand in local market ● Changing choice of customers
● Availability of domestic resources

Strength:

Loyal Customers: They have their own loyal customers who only prefers REL in terms of
purchasing electronic goods.

Moderate price: Their pricing is affordable and moderate. They might charge a bit more than
the average brand products but they make up that price with the better quality they are providing.
Customers understand this fact clearly.

Experienced employees: RFL electronics has a large number of employees who are vastly
experienced for their work. They know the situations of their company and act properly by it.

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Vast source of finance: REL is a sub brand of Pran-RFL group. Pran-RFL is one of the biggest
group of the country and they are an internationally known brand. So, their Financial pipeline is
very strong.

Weakness:

High transportation cost: Transportation of the raw materials and products cost a lot for the
company. Because they have a large number of distribution centers around the world.

Internal promotion strategy: The individual promotion and planning of the sub brands of Pran-
RFL group, which includes RFL electronics is not equal. Sometimes RFL Electronics gets less
attention.

Lack of better control: AS they have a lot of products, sometimes the internal control is not
good enough.

Opportunities:

Position in global market: RFL electronics has a great opportunity to grow as a renowned
global company as they have great and reliable products and a good strategy.

Great demand in local market: They have a great demand in local market which is increasing
rapidly because of the uncompromising quality.

Availability of domestic resources: All the resources that REL needs are available in our
country. So, that is an opportunity to look forward.

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Threats:

Large local competition: In the local market, RFL electronics has to deal with a huge number of
competitors. All of the competitors are growing really fast.

Changing choice of customers: Customer’s preference can change at any time, which is an
important factor keep in mind. Otherwise customers will lose their likeness of the products.

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 Management Issues

Good Point:

Company Location: It’s the most important for the RFL electronics Limited. In order to
determine the place, FL electronics should set up industrial areas and other areas around the
river. Because of the waste products of electronics can be thrown into the river when the
company in built around the river.

Customized Electronics accessories: FL Electronics employee’s official work is done by the

customized gadgets, which is customized according to its own which makes it easy and easy to
operate

Strong Distribution channel: There are lots of dealers in every city of RFL Electronics. They
supply their products and have strong and distribution team, which can be used to promote.

Bad Point

Communication gap with manager and employment: Communication gap between managers
and employees is a major problem in the company. Because if the communication gap between
them, then the company cannot promote it well.

Employee communication problems

● Internal communication problem

● Former communication problem
● Customers communication problem
● Govt. Agencies communication problem
● Informer communication problem

External communication problem: External communications are also important for the RFL
Electronics limited. It may need to convey issues to receiver and stakeholders in many different
areas. These issues could not include legal matters, pensions and discussions, as well as disputes.

Socio-Culture influence: Social-cultural influences references that and group yields within the
culture limited in the interior the values. This issue at work finished stages of teaching, wealth
sharing and time of life dissemination looks for demographics schemes, inhabitants and all
classes of culture etc. The RFL Electronics ltd practices it on their geographic purpose in the
globally by constituency rule, safety regulation and client security.

Economic Influences: Deprived of economic state of businesses no other business can typical
value on their yields. It is enforced splitting up the financial and economic effects ought to

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enormous consequence on for the reason that this factor describes how much outlays of
company. In RFL Electronics ltd, it will be hopeful when these cost-effective issues are
for any kinds of operates.

Lack of Training: There are lack of staff training in RFL Electronics. Because of which the
company’s work isn’t done properly.

Porter's five forces

Threat of new entrants: Profitable industries that offer high retire will attract new firms.
Threats of any competitors are high in the business of RFL electronics. Any type of company can
enter in this sector because the government is friendly enough to giving the trade licenses.

Threat of substitutes: A substitute product uses a different technology for solving the
economic need. In the business market RFL electronic groups threat of substitutes are very high
in range. Without RFL electronics there has so many other electronic companies. Such as:
Walton, Jamuna, LG etc. And this companies are producing also the same thing. So, if RFL
electronics company is making anything unfair with the customers, they may switch to the other
company.

Bargaining power of customers: The bargaining power of customers is also described as the
market of outputs. Here the bargaining power of the customer is very high. Because there are
many customers in the market, so they can bargain the prices of the electronics products.

Bargaining power of suppliers: The bargaining power of customers is also described as the
market of outputs. Here the bargaining power of the customer is very high. Because there are
many customers in the market, so they can bargain the prices of the electronics products.

Industry rivalry: Current rivalry is much high for RFL electronics. Because there are huge
electronics groups like LG, Jamuna electronics, Walton and so many, so it is seen that the rivalry
amongst the current companies are very high.

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 Human Resource Policy

Human resources department of RFL Electronics plays a significant role to manage a huge
workforce containing over 200 members. They develop a smooth work environment in company
where each and every team members consider themselves as leading contributors. In order to
increase the efficiency and effectiveness of firm’s operations, they perform various businesses
related functions including planning, analyzing, reporting and auditing. The task of this
department is slightly described here:

Recruitment: While recruiting employees in any sector of any department, they have to go
through some procedures. First of all they have to go through a viva with HR. Then they have to
sit for an MCQ test and a written test. After completing written test, they go for a one on one
interview with the head of department. Finally. they are taken final viva with the Director of
Department either one on one or group interview.

Training: The purpose for training program is to nurture the work skills of our employees and to
motivate them to perform well. All the employees are trained for at least 2 weeks after
recruitment. Notable, wherever the employee is recruited, as primary training he/she is trained
for every sector.

Retention Policy: They are very concerned about the employees to keep related with the
company and makes a developed process to let them know that they are being monitored. For
this reason, they maintain some manners such as everyday they send email to every employee
informing their feedback about their works, their progress, observation report so that they can
improve themselves and overcome their problems. HR sends them emails of consist of many
sources where they can learn new and relevant things daily. Everybody employing in the
company is incremented in the end of the year. Incrementation is evaluated on the basis of
performance. It is very strict about any kind of unethical activity or corruption. HR strongly
handle this kind of issues.

Information Technology:

RFL Electronics has a IT department which lead the whole work procedures of IT sector. It
preserves the company database such as product database, employee database and ensures
security. It also maintains the network and communication service among employees. The firm
has both intranet and internet network connection which is created and conducted by It sector.
Internal communication is maintained via intranet and internet is used for external
communication issues. It designs and creates essential software of company. Product barcode,
scanning code, product code set up and so more technological features are developed by this

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sector. Every official electric device of RFL Electronics is customized. Those devices are
designed and monitored by IT department.

Product:

RFL Electronics intensely started marketing of consumer electrical and electronics products in 4
brands. Those brands are:

▪ Bizli: It is the brand for cables. The production process is well equipped with high
efficiency modern machineries and technology has taken from Japan. It offers various
products like PVC cable, telecommunication cable, Co-axial cables and so on.

▪ Click: It brings products for customers such as switch box, LED lights, CFL lights,
indicators, fan, regulators, piano switch etc.

▪ Vision: It is the core brand of RFL Electronics which has concern for home accessories
and household electronics. People can get here accessories for their comfort like
refrigerator, iron, LED TV, sound box, blender, induction cooker, AC, Freezer, washing
machine etc.

▪ Vigo: Vigo is closely similar to Vision but its main concern is home appliance such as
Freeze, microwave oven, power bank, USB fan, cooler etc.

Organizational Culture:

It is a system of shared assumptions, values, and beliefs, which represents how people behave in
organizations. RFL Electronics follow certain standards and measures as part of its culture. It
maintains a totally unique culture. This company strongly believes in fairness within the
organization. Three core areas of fairness are largely practiced in REL Electronics: Procedural
fairness, distributive fairness and interactional fairness:

1. Procedural fairness: All types of internal and external procedures are conducting
transparently & ethically. Any kind of corruption is strictly defended. It focuses on cost
minimizing and profits of organization.

2. Distributive fairness: RFL Electronics has a strong distribution network in whole country.
Company maintains loyal and apparent dealing with all levels of distributors.

3. Interactional fairness: Company sustains a friendly and comfortable environment among

employees by maintaining interactional smoothness. It treats employees with respect &
dignity.

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 Objective of company

A business aim is the goal a business wants to achieve. A clear and appropriate objective assists
in decision making and helps to pursue desired goals. RFL Electronics are trying utmost to
achieve their goals and target. They have distinctive and specific goals and objectives for their
business. All strategies and working procedures are designed according to those criteria. It has
some core objectives and company is working towards it. Those major objectives are:

➢ Profitability.

➢ Increasing Productivity

➢ Getting more Market Share.

➢ Best Customer Service.

✓ Profitability: Profitability is the way of maintaining cost and earning more revenue.
Every company’s main objective is to maintain profitability. RFL Electronics also focus
on this portion. One of their major objective is to increase their profit up to 10 to 15
percent within year 2020. They follow backward vertical integration strategy by which
they concentrate on inputs and become self-supplier. Now, RFL Electronics decrease
import activities and has started home manufacturing procedures. They have organized
many selling and marketing course for their staff to increase skills. They also keeping
staff performance review record. Based on this, HR makes evaluation report and
announced rewards for good performance.

✓ Increasing productivity: A business firm is always looking for increasing productivity

of business. For producing more output, company has to take some strategic initiatives.
RFL Electronics are continuously trying to rise employee productivity and enhance
technological advancement in manufactural activities. Company arranges several
seminars and training sessions conducting by specialists which helps employees to
develop their skills which guide them to increase company’s productivity. Sometimes,
they conduct business process re-engineering to enhance efficiency and bring required
structural changes

✓ Getting more market share: Every company likes to look forward about their market
share. RFL Electronics contains 8% market share in electronics business and plans to
increase it to 30% within 2020. They adopt cost leadership strategy that decrease their
manufacture cost. So, they can offer their products in less price which helps them to grow
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 market share. Company increase their outlets and shops day by day. In result, Control
remains centralized but their service is getting decentralized. They want to increase
market share constantly and their ultimate goal is to capture the large amount of market
share.

✓ Best Customer Service: RFL Electronics are very loyal and sensitive in customer
service. They offer best customer service to their customer. Every consumer related
department is determined to give best experience and service to their consumers. It has
many customer care service such as customer care center in selected outlet, customer
service center besides every warehouse, virtual directory, central customer care center in
PRAN-RFL Centre in Middle Badda, Dhaka.

Motivating Employee

For the progress of a business venture, employees are the key. So, a company has to encourage
and provide inspiration to do best for the business by taking several initiatives. Whether the
business situation is, motivating employee is always a significant issue for management. RFL
Electronics offers a fair and alluring motivating policies for their employees. The organization
has compatible working policies, payment policies, bonus and incentives schemes etc which
motivate employees to become loyal and hard working for company. Managers take these steps
to motivate employees:

● Employees are given passion project which they want to contribute

● Opportunities to develop skills and presenting himself.
● Reward and appreciation for success.
● Provide support in personal issues.

Payment Scheme: Money is the best motivator. RFL Electronics maintains a fair and effective
salary and payment policies for their employees. Employees enjoys a yearly increment in salary
which is provided by the company as a symbol of their valuation and appreciation. Company
organize a yearly audit and evaluation of employees based on their performance and ethical
condition and offers promotion and special increment for expected and desired performance.

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Bonus and Incentives Schemes: Employees are rewarded and gifted bonuses and incentive
from company. RFL Electronics offers bonuses in occasions and reward incentives for
contributing in company’s welfare. Here are the bonus and incentives schemes of RFL
Electronics:

❖ Festive bonus in two times a year.

❖ Profit bonus (based on company profit) in two times a year.
❖ Provide commission in different scale from sales.

Credential: RFL Electronics believes in quality. It always focuses on most advance technology
high graded raw materials and regular test facilities with skilled researcher in the factory
premises. It has several international and national certificates regarding quality:

▪ ISO 9001:2008
▪ ISO 14000QMS EMS
▪ Bangladesh Standard & Testing Institution
▪ Bangladesh University of Engineering and Technology
▪ Bureau of Indian standards

Corporate Social Responsibility: Every company has some responsibilities to society. It makes
a strong image and brand positioning of company in customer mind. RFL Electronics is highly
determined about its social responsibilities. It maintains those social responsibilities strongly:

✓ It strictly prohibits child labor & discourage the practice of the same.
✓ It provides fair & good working condition to their labor.
✓ Consideration for environment.
✓ It follows fair trade practices.

Conclusion

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RFL Electronics is one of the promising venture in electronics industry in Bangladesh. Since
2012, this company has developed their brand image day by day. It is now containing 8% of
market share and its market share growing rate is so good. It makes valuable impact in business
market. RFL Electronics offers electrical and electronics product to customer in very reasonable
price. But the company is very loyal and conscious about product quality. All types of product of
this company are in conformity with the latest standard of national and inter-national excellence.
It has own manufacturing unit including up to date technology and mechanistic equipped
factories. It maintains strong management system which is helping them to grow bigger and
achieve its desired goal. Their ultimate vision is to be the market leader of national market and
making REL Electronics an international brand.

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 Reference

1. http://rfleshop.com/

2. http://www.rflbd.com/

3. http://www.pranrflgroup.com/

4. https://www.mindtools.com/pages/article/newTMC_08.htm

5. http://www.rflbd.com/career/Electronics.php

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