International business activities at Biopharma Limited
AuthorAsha, Farzana Mamun
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This report is prepared on the basis of my three-month practical experience at Bio-Pharma Ltd. This internship program helped me to learn about the practical scenario of a Pharmaceutical Company. In Bangladesh, pharmaceutical sector is one of the most developed hi tech sector which is contributing in the country. This industry contributes the national earnings through exporting world class medicines all over the world. While dealing with foreign party, the activities of international business start. The pharmaceutical industry is considered to be one of the most potential and thriving industries in Bangladesh. This is one particular sector where against all odds; Bangladesh has achieved nearly self- sufficiency. Biopharma is the leading pharmaceutical company in Bangladesh in spite of the dominant presence of number of renowned Multinational companies. With almost 1700 employees, the company is maintaining the highest domestic market share and at the same time the highest share in pharmaceutical export of the country. As a student of Business, I feel the importance to reveal its international business activities and enrich my knowledge in order to relating the pharmaceutical industry and its operations with my academic studies. While working at Biopharma Ltd., I have been assigned to do different types of tasks which are equally important for other type of organization. I have done the following tasks: Business development is a very important tool with which a company expands its business to other markets and creates a potential market for its own. Therefore, a company should be very careful about this matter. In order to develop a business, a company needs to know some basic information about the environmental forces, i.e. demographic, political, economical, socio-cultural, legal, and technical and so on.Due to working in Biopharma, I learnt those etiquettes more clearly and concisely. Communication manner is also an important practice for all business personnel. I learned written communication through which a pharmaceutical company creates business relationships and involves with corporate activities. In order to operate business in abroad, first thing comes is a buyer or an importer who will sell the products in its country. For doing this there should be an agreement by which the parties would agree to do business together with trust. This agreement mentions all the rights and obligations, terms and conditions regarding partnership for both the parties..In Biopharma, I studied some negotiation incidents as well. From the study I learned that both companies always try to win the game through negotiation. Sometimes, negotiation reaches to a dead end and after that people come again and try to find out the best possible situation which would be profitable for both.Though shipping procedure is a vast thing and it is not possible to understand the whole thing in this short time. However, I managed to observe these situations and did some tasks which reduced my fear about the complicated processes and enriched my ability and experience. For a shipment one needs to know some basic things without which it would be nearly impossible to operate a shipment. Those things are: a. Type of Payment: b. Incoterms: c. Bill of Lading and Airway Bill: d. Paper Submissions: e. Certificate of Origin (COO): In order to get bank clearance, I have learnt what papers do it needed to submit and the number of copies. Same was with the customs clearance. It might seem very easy but to me, at first, it was seemed very complicated when I was studying them. Documentation is very important tasks to be done. It is simple but very complex series of job. I did for sorting papers for buyers and office. I did sorting papers for pre-shipment as well. For this I have learnt about Form 10 A, EXP, Insurance, Packing list, Commercial Invoice and others. At the international business department of Biopharma Ltd., very few things were left that I didn’t do. I have done almost every possible staffs which are equally important in every organization including pharmaceutical companies in dealing with foreign delegates. The international business department of Biopharma does many tasks. This report has been prepared by on the basis of experience gathered during the period of internship and my own learning and understandings. The entire process has been made by collecting primary data which played a vital role to write down the report and secondary data was needed for supportive structured build-up to the report.