Introduction:

What is Functional Level Strategy ?

 Functional level strategies are the actions and goals assigned to various
departments that support the business level strategy and corporate level strategy.
These strategies specify the outcomes you want to see achieved from the daily
operations of specific departments (or functions) of your business.
 A functional level strategies should reflect the fact that corporate and business
objectives typically require the involvement of multiple functional areas (e.g.,
HR, production, R&D, etc.).
Importance of Functional Level Strategy
 Functional strategy often aims to improve the effectiveness of a company’s operations within
departments.
 Within these departments, employees often refer to their Marketing Strategy, Human Resource
Strategy or Innovation Strategy.
 When all the functional departments of a company work together in same direction, they
ultimately achieve the business and corporate.
 Hence, the goal of functional strategy is to align these strategies as much as possible with
the business strategy.
 Functional strategies are operating level of strategies. The decisions taken at this level are
referred as tactical decisions. Hence, these decisions are very operational in nature.
 They may be called tactics instead of strategies.
 The main purpose of a functional strategy is to enable the company’s strategy – not to achieve
functional excellence.
 Building Competitive Advantage through Functional-
Level Strategies (Square Pharmaceuticals)

Vision Statement
“We view business as a means to the material and social wellbeing of the investors, employees and the
society at large, leading to accretion of wealth through financial and moral gains as a part of the process
of the human civilization.”
Mission Statement
“Our Mission is to produce and provide quality and innovative healthcare relief for people, maintain
stringently ethical standard in business operation also ensuring benefit to the shareholders, stakeholders
and the society at large.”
 Different Functional Level Strategies of Square to Gain
Advantages

 Research and Development.

 Marketing Strategy.
 Operational Strategy.
 Recruitment and Selection process.
 Finace
Building Competitive Advantage through R&D: Square
Pharmaceuticals Ltd.

Introduction:
• Square Pharmaceuticals Ltd.: A Key Player in Bangladeshi Pharmaceutical
Industry
• Strategic Use of Research and Development (R&D) for Competitive Advantage

R&D at Square Pharmaceuticals:

• Pioneering Product Innovation
• Elevating Quality Standards
• Trailblazing New Drug Development
R&D and Market Expansion

Market Expansion Through R&D:

• Globalizing Market Reach
• Strategic Collaborations for Knowledge Exchange
• Overcoming Challenges and Looking Ahead
Conclusion:
• R&D as a Driver of Competitive Advantage
• Square Pharmaceuticals Ltd.'s Position at the Forefront
• Innovative Growth and Industry Leadership
How Square Pharma Building Competitive Advantage through Marketing
Strategies
The marketing and sales functions play a crucial role in promoting pharmaceutical products to healthcare
professionals, patients, and consumers. The functional-level strategy might involve tailoring marketing efforts to
specific target audiences, such as healthcare providers or patients, and utilizing a mix of traditional and digital
marketing channels. Sales strategies could include building strong relationships with key stakeholders in the
medical community and effectively communicating the value of the company's products.

 Scientific seminar:
• Square arranges different seminars to different indoor and outdoor of hospital known as PCPE and CME.
• PCPE is basically focusing on the village doctors and CME is for the traditional formal graduate doctors.
• Doctors from (MSD) medical support department also play a very important role to arrange and execute those
scientific seminars.
• The main topic for these kinds of basically based on different recent innovation, different diseases and the
prevention etc.

 Factory Visit by doctors:

• Different renowned doctors from different hospital usually visit factory.
• The high quality of the manufacturing process basically gives an overall idea of the process of producing
medicine.
• Therefore doctors can share their experience with the colleagues and doctors which eventually help to create
positive brand image.
 Sponsor doctor for foreign trip or education:
• Sometimes many renowned doctors may want to attend many foreign medical seminar or they
may want to attend many important workshop lead by any foreign medical institute.
• Square select doctors based on their potentiality to sponsor them so that it helps both
individually to doctor and also as a nation because increase in expectancy of doctors ultimately
an asset for the country.
 Online promotion:
• Square is using online sources to promote their product.
• As earlier mentioned the company is using e learning program to increase the level of knowledge
of customer. They are using this online platform to use promote their pharmaceuticals product.
• Some of the key information like building brand new LVP factory and also factory in Kenya also
shared to the different online platforms.
 Product Differentiation:
• SPL also focuses on Market niche, concentrating competitively on a specific market segment.
These types of product are usually charged with premium price and only a few number of
companies produces or imports those drugs. In this regards square pharma achieved a good
reputation in medicine sector.
 Production plan

 Regulatory Compliance: established by the national regulatory authority

 R&D: cutting-edge technology and adheres to Good Manufacturing Practice
(GMP)
 Sourcing Raw Materials: purchase raw materials from both domestic and
foreign markets
 Scaling Production: manufacturing facilities in order to enhance production
capacities
 Sustainability: focusing on environmentally friendly manufacturing methods
RECRUITMENT AND SELECTION PROCESS
SQUARE PHARMACEUTICALS LIMITED

Employee budgeting refers to forecasting

01 the manpower requirement for a fiscal year
for different departments. After proper
analysis & discussion the requisition for the
manpower has to come from the specific
departments to HRD.

Employee Budget The HRD of SPL uses newspaper, job sites,

02 LinkedIn & various recruitment firms to
& Requisition
attract potential pool of candidates. After the
pool is created, the R&S team of SPL
shortlists the potential candidates.
Attracting Candidates &
Applications Screening
Then all the eligible candidates are invited
03 for a written test. Those who qualify have to
go through multiple phases of interviews
Written Test Followed by An
depending on the internal policy of SPL.
Interview

Choosing the best applicants for the In the final stage, Those who survives
04
organization & Offering Employment this entire process are offered the job for
the position they applied.
TRAINING AND EMPLOYEE DEVELOPMENT PROGRAM IN SPL

Training for all the management employees from entry

Management level to top level management.
Development Training
International
Training International Training is only applicable for the
top level management employees
Field Forces
Supplementary Class
Sales Territory This Training is only applicable for the
Management Training field force.
Traing of the
Distribution Team
Mid level management employees from the
sales team are entitled to this training.

All level employees from the distribution team are

entitled to these refreshers’ training
 HEALTH AND SAFETY IN SPL

Firstly, Ensuring Security Provide all the safety information,

for All Stakeholders. instruction effectively.

Evaluate natural and disaster Complying with all the Prevent activities that are hazardous
anticipatory considerations government rules & regulations. to health to the greatest degree.
 RECOMMENDATIONS

 Should hire more capable employees to keep pace with the expansion of the
business.
 Should redesign the existing recruitment & selection process.
 Should eliminate bureaucracy while decision making.
 Additional training halls or rooms for conducting the in-house training .
 Finance Strategies Key Points

 Financial Growth: Square went through significant growth in financial growth

by 12.62% compared to previous Financial Years, as well as equity shareholder
growth 13.12%, meaning their finance strategies are in full effect.
 Debt and Liability: Since FY 2018-19, Square does not take any long terms bank
loans. It maintains 0.5 in debt to equity ratio meaning the company has very low
debts in their balance books.
 Global Exports: Square Pharma export market covers over 45 Countries and has
undertaken all sorts of possible thrusts for increasing the export within the current
capacity which is expected to rise more in the coming years. During the year [FY-
2022/23] under review, the exports amounted to Tk. 1,700.27 million as against
Tk. 1,507.74 million, an increase of 12.77% over the previous year.
 Finance Strategies Key Points

 Financial Performance and Benchmarking:

In here we see, Square’s financial strategies and performances made them

competitive advantage over the rival companies.
 Finance Strategies Key Points

 Credit Rating: Square has a good credit rating: AAA for highest safety and
highest credit quality in long term rating. ST-1 for short term rating, indicating
highest certainty for repayment.
 Risk Management: : Square maintains highest concerns and full proof strategies
to mitigate risks. The organization does not engage itself to extraordinary
activities that can endanger them financially.
 Investment: Square is always striving to strengthen and integrate new
technologies in the areas of production, quality control, distribution, and patient
administration. During the year 2021-2022 Square Pharma invested an amount of
Tk. 134.46 million in improving its laboratory facilities in line with new
inventions of process/production. Square also maintains diversified portfolio
through: SPL Kenya, Square Hospital, Square Life Science, Fashion and textiles.
 Finance Strategies Key Points

Based on the final review of the annual report, I understand that, Square has solid
financial strategies and implementation that gave the organization competitive
advantage over other players in pharmaceuticals industry. Also as a organization
Square’s financial strategies portrays a strong sustainability and security to continue
operations for long term tenure.