শোকের সাথে সখ্যতা

 

রাফিউ আহমেদ, সেশন: ২০১৪-১৫, ম্যানেজমেন্ট বিভাগ, চট্টগ্রাম বিশ্ববিদ্যালয়।

আমার শহরে সুখ আসে শোক নিয়ে।

 

নীলাভ আকাশ ভেঙে কালবৈশাখী,

শান্ত বুকে পূর্বাভাস বিহীন সাইক্লোন,

হাসির বিপরীতে আমি ভেঙে চৌচির!

 

আমার শহরে সুখ নামে নীল নীল ছোপে।

 

রাঙা ক্যানভাস ঝড়ের কবলে,

তোমার চুলের জলে অলিতে গলিতে বন্যা,

নিয়ম করে দীর্ঘশ্বাসেরা হাসে,

এই শহর সুখের ভয়ে কাঁপে।

 

আমার শহরে সুখ আসে শোক নিয়ে।

 

মানুষগুলো সমান্তরালে হাঁটে,

অক্সিজেনের সাগরেও শ্বাসকষ্ট বাড়ে,

বুকে চাপা কষ্টদের পুনর্জন্মের রোগ,

তোমায় চেয়ে চেয়ে মরে, ফিনিক্স হয়ে জাগে।

 

আমার শহরে সুখ আসে দ্বিগুণ শোক নিয়ে।

Economic Growth and Employment

 

Writer: Jemima Montahin. Session: 2018-19, Department of Human Resource Management, University of Chittagong

Economic growth is crucial for economic growth. Employment creates income. Income creates savings. Savings encourage investment. More investment enhances economic growth. More people are employed; they can earn more to spend purchasing goods and services. It helps to grow the business. More business creates more jobs. in turns unemployment problem will be decreasing. Income increases the purchasing power of people. People earn more; they can demand more quality products that increase the growth of the business. Businessman earns more from their business.  The more business increases, the more government earns from the business. Government can invest that income in infrastructure development such as roads, industries, schools, colleges, universities, power, energy, etc. Infrastructure development attracts investors to invest money in business. Now what are economic growth and employment? What is the relationship between economic growth and employment?

Economic growth is the growth that is related to increasing the per capita income and enhancing the quality and quantity of goods and services. On the other hand, employment is the agreement between two parties that one party gives labor and the other party gives money in exchange. For example, most people are unemployed; they cannot earn money to fulfill their basic needs. Savings and investment rates are not better. Government cannot invest more money to invest in infrastructure development. Business is not a much better position. Job is not much compared to the population. As a result, people cannot contribute to economic development as well as economic growth.

The link between economic growth and employment

Economic growth and employment are strongly related. Growth is increasing, businesses are enhancing, and businesses are starting up which can create more job opportunities. In turn, the unemployment rate decreased. Countries with lower unemployment rates have greater economic growth than those that have higher unemployment rates. Technology has a greater influence on economic growth as well as job creation. Technological use decreases the cost of production and efficiency. Higher economic countries use technology in industries. Technology makes the business attractive. As a result, technology creates productive jobs.

When the country is economically strong. They can organize more training and development for their employees. Training is essential for increasing skills and competencies. For this result, developing countries have qualified employees. Qualified employees are crucial for producing quality goods and services. It is a big problem for developing countries. They do not have qualified employees. Therefore, product quality is not much better. Better economic growth creates entrepreneurs. Entrepreneur brings innovation to product and service. They create more jobs for people. As a result, they contribute to economic growth.  For increasing jobs, there is no better option than increasing economic growth. So government and policymakers can take better policies to encourage business such as reducing taxes, investing more in infrastructures, or increasing access to finance. 

10 COMMON RECRUITMENT MISTAKES & WAYS OUT

 

Writer: Sifat Ahmed. Session: 2019-20, Department of Human Resource Management, University of Chittagong

To err is human. Everyone makes mistakes. It is quite normal to make any mistake as a human being. However, when any HR, while recruiting, makes an error, it can have ripple effects throughout the entire company. That is why HR should always be aware of mistakes and try to overcome them. Here are some common recruitment mistakes and the ways out.

Mistake 01: Not creating accurate Job Descriptions.

Solution:  Describe the job accurately and honestly in your advertisement. A recruiter can create a standard Job Description for every single position when he circulates the recruitment circular. Try to review a role’s responsibilities before posting job descriptions.

Mistake 02: Relying too much on the interview.

Solution: Try to check out the candidate’s background & other activities along with the interview rather than relying too much on the interview. Also, candidates should be examined practically by letting them work in the organization for a probationary period to be confirmed.

Mistake 03: Insufficient Interview Duration

Solution: It is obvious to allow ample time for a candidate during an interview so that he can showcase his skills and prove his eligibility. In this process, employers can also examine the candidate with scrutiny.

Mistake 04: Not doing proper research about candidates

Solution: Research candidates on LinkedIn and other social media like Facebook, it helps to know more about the candidate.

Mistake 05: Hiring less qualified.

Solution: If you think the applicant is less qualified for your job then inform him/her of that. In addition, suggest to them what they should improve to be qualified & encourage them to try again and connect with you in the future if you think the less qualified applicant has the potential & is a quick learner then you can take a chance if other options aren’t available.         

Mistake 06: Rejecting overqualified.

Solution: Rejecting overqualified always puts a bad impression. Instead of rejection, you can offer him/her a better post you think is suitable for the applicant. Alternatively, you can discuss the facts with the applicant directly that he/she is overqualified for the job, if they are still interested to join then ask them why. Moreover, you will be able to come to any conclusion.

Mistake 07: Waiting for the perfect candidate.

Solution: Not necessary that you’ll get the perfect candidate every time for every post. Try to manage overqualified or less qualified with the potential of quick learning for your job rather than waiting for too long.

Mistake 08: Improper Orientation        

Solution: It is important to arrange an orientation that makes recruits comfortable and provides clear information about the organization, its policies, work culture, working environment and chain of command.

Mistake 09: Expecting too much, too soon from a new recruit.

Solution: Do not expect too much from a newcomer. Remember the term NEW & what does it mean. And try to make a comfortable learning work environment so that the new person can learn everything quickly & perfectly.

Mistake 10: Not Using the Right Source

Solution: Posting openings on your website is great, but it works best if you are a well-known brand and have good traffic. You will need other sites to send traffic to your websites and your social media pages. Use a talent acquisition platform or an ATS to track the best-performing recruitment channels for your openings and post your ads where you know they work. 

Artificial Intelligence & 4th Industrial Revolution

 

Writer: Prottoy Kanti Das. Session: 2020-21, Department of Banking & Insurance, University of Chittagong

Introduction

The fourth Industrial Revolution also known as 4IR or Industry 4.0 is a technological shift that will affect the culture and economics of the world. It advances a wide range of technologies like Artificial Intelligence, Robotics, 3D Printing, Quantum Computing, Blockchain, etc. It aims to change the way we live and radically change almost every business sector. It set out to change society like never before, it builds on foundations laid by the first three industrial revolutions. Artificial intelligence (AI) is intelligence perceiving, synthesizing, and inferring information demonstrated by machines. It is the heart of the 4^th Industrial Revolution. It will help with so many critical issues in society. It will be the key factor in the future economy. Rapid advances in machine learning (ML) increase the scope and scale of AIs. The use of AI is increasing day by day in every sector. Many scholars say that 4IR will come in this decade with the help of AI.  

Necessity & Uses of AI on 4^th Industrial Revolution

We are entering at 4^th industrial revolution. The revolution is already begun with the blessing of AI technologies like Automation, chatbots, Facial Recognition, Virtual Assistants, Artificial Neutral Networks, etc. The First Industrial Revolution was about mechanization, utilizing water and steam power to increase production. The Second Industrial Revolution was about harnessing the ability of electricity to mass produce all sorts of products. The Third Industrial Revolution was automated production. Today, The Fourth Industrial Revolution emphasizes current automated machines with improved technology and intelligent computer system. Many people think that Artificial Intelligence is the key factor of the 4^th Industrial Revolution. This thing is no remaining image now. Because we already see that the AI-based chatbot ChatGPT got a huge response in just 3 months. It helps an industry to make company-wide strategic decisions. Even many business firms make their website with the help of ChatGPT. Not only AI Chatbot but also other AI tools driving the industrial sector. Now big companies like Microsoft and Bing are investing in Open AI. Even AI is used as a branding tool now.

Industrial artificial intelligence is going to be the foundation of a previously unseen digital transformation and business innovation. By changing the way work gets done, AI helps companies make the best use of practical experience, even displacing traditional labor and becoming the productive factor itself. This transformation will unleash massive technological productivity and economic growth. It will offer entirely new paths toward growth for manufacturing, service, and other industries. It will reshape the world economy.

Conclusion

The 4IR is the upcoming revolution that aims to change the world with developed technologies. It will drive the world economy with the help of AI. According to a PWC study, AI will add 15.7 Trillion dollars to the world economy by 2030. It is because in business, medicine, education, sports, entertainment, and transportation sector the use of AI will increase tremendously.

In the 4^th Industrial Revolution, AI, Big Data, Blockchain, and many other technology will be part of human life. This revolution will affect our economic, social, and political life largely. And from here a new era can be discovered.

OTT industry: Where Art Becomes Business, and Business Becomes Art

 

Writer: Mohammad Mustafa Galib Kafi. Session: 2017-18, Department of Marketing, University of Chittagong

Imagine a movie theatre, where the whole world is your audience. If someone had said this thirty years ago, people would've asked him in what utopian reality this may come true! Now, in 2023, we are living that dream. Over-The-Top platforms, in short OTTs, have made this possible. OTT refers to the technology that enables people to watch streamed content (e.g. movies, series) over the internet. Netflix, Disney+, Hulu, Amazon Prime, and HBO Max are some of the big names when it comes to notable OTT platforms worldwide.

industry. It has changed the way people perceive content. Eventually, the market expanded, and so did the number of competitors.

OTT Industry is the place, where Art becomes Business!

Even though a significant portion of art aficionado is against the commercialization of Art, the truth is, Art has always been commercialized. It may sound disheartening to some, but without commercialization, Art can neither sustain nor reach its ultimate goal, which is reaching a wide audience. 

Rather, a symbiotic relationship between Art and Business can do the magic! The wars of the kings, schemes of politics, the romance of lovers, funs of friends all of these merge and are presented to us as movies or series.

'Game of Thrones', the most watched TV series of all time, 'Stranger Things', and '13 Reasons Why' are some examples where Art has become Business. These are some of the most watched shows in the history of TV, responsible for billions of revenues.

If we analyze the case of 'Game of Thrones', this will become more apparent. According to a report by Bloomberg, Game of Thrones made a staggering $285 million profit per episode, while incurring a budget of $15 million per episode! According to a report by Finance Monthly, the show has earned $3.1 billion alone from HBO subscriptions.

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This is huge. The commercialization of Art has enabled the OTT platforms make good money by streaming contents while has enabled us, the mass audience, have the opportunity to witness something that we've never seen before.

OTT Industry is the place, where Business becomes Art!

Now, let's dive into some interesting cases of our very own Bangladeshi contents. Hoichoi Bangladesh, Chorki, Bioscope, Bongo, Binge are some of the major local streaming platforms.

'Taqdeer', 'Contract', 'Kaiser', 'Ladies and Gentlemen', 'Karagar', and 'Unoloukik' are some of the most watched locally produced web content. 'Duita kotha mone rakhba', (Remember two things) thousands of memes have been generated with the template of this catchphrase, originating from one of the most hyped Bangladeshi TV shows of recent times, 'Mohanagar' by Ashfaque Nipun. The huge popularity of this TV show is obviously the result of good planning, execution, the mesmerizing performance of the artists of course, but at the same time, imprinting catchphrases which are potential 'meme material' also plays a vital role in popularizing content. It has become a trend in Bangladeshi web content. Here goes another example —

Antagonist of the famous show 'Syndicate' by Shihab Shaheen, the character 'Allen Shopon', played by Nasir Uddin Khan, is full of monologues which are potential meme material. 'Obuk, ei maiya to khub ishmart' (Damn! this girl is impressive!) is another catchphrase which clicked and became viral through meme marketing. We can see almost similar attempts in the web series 'Kaiser' by Tanim Noor. Even though, the storyline is pure gem, and the dialogues are extremely witty, some of the dialogues have made it even more enjoyable for us while grabbing immediate attention from the audience at the same time.

Directors and scriptwriters now think about including dialogues and catchphrases that attract the audience and will help them popularize their content. The business has become tricky and artistic at the same time.

While having a multitude of perks, OTT Industry may trigger users to feel overwhelmed by the number of subscriptions they need to maintain to enjoy quality content. That is a backdrop that requires our concern. However, we hope that OTT platforms will continue to thrive and offer us more quality content while considering the cost factors associated with the users.

'Valar Dohaeris'! 

"Leadership, Teamwork, and Brainstorming: The Key to Success in Bangladesh and the Global Market"

 

Writer: Adilur Rahman. Session: 2018-19, Department of Marketing, University of Chittagong

Leadership, teamwork, and brainstorming are essential components of any successful organization, and this is especially true in the fast-paced and ever-changing business landscape of Bangladesh. 

According to a study by the World Economic Forum, Bangladesh has been ranked as one of the top 10 countries in the world for ease of doing business, indicating the country's potential for growth and development in the global market. In order to take full advantage of this potential and stay competitive, it is essential for companies in Bangladesh to foster a culture of strong leadership, effective team work, and innovative brainstorming. 

Leadership is the ability to guide and inspire others to achieve a common goal. In Bangladesh, effective leadership is essential for driving progress and growth in the country's rapidly developing economy. Strong leaders are able to motivate their teams and create a sense of shared purpose, which helps to drive productivity and performance. According to a study by the Harvard Business Review, companies with strong leadership were found to have a 34% higher return on investment than companies with weak leadership. 

Teamwork is also a key component of success in the business world. Effective team work is essential for achieving goals and driving progress. When teams work together effectively, they are able to accomplish more than they would be able to individually. Effective team work allows for the sharing of ideas, knowledge, and skills, which helps to drive innovation and creativity. Teams are also able to make better decisions, as they are able to consider a variety of perspectives and ideas.

According to a Forbes survey, companies with high levels of teamwork have been found to have a 42% higher return on sales and a 12% higher return on investment. Brainstorming is a powerful tool for generating new and innovative ideas. 

Brainstorming is essential for keeping companies competitive and driving progress. The process of brainstorming allows for the free flow of ideas, which can lead to the development of new and exciting products and services. It also allows for the exploration of new markets and the identification of new opportunities. A study by the Harvard Business Review found that brainstorming sessions can increase the number of ideas generated by as much as 200%. In a global perspective, leadership, team work, and brainstorming are vital for the success of organizations around the world.

 Effective leadership is essential for inspiring and motivating employees, driving progress and growth, and adapting to change. Teamwork is crucial for achieving goals and driving progress, as well as for sharing ideas, knowledge, and skills. Brainstorming is important for generating new and innovative ideas, exploring new markets, and identifying new opportunities. According to a study by McKinsey, companies with strong teamwork and collaboration have been found to have a 47% higher return on assets. 

In order to foster a culture of strong leadership, effective team work, and innovative brainstorming, companies in Bangladesh and around the world must invest in their employees. This includes providing training and development opportunities, as well as creating an environment that encourages open communication and collaboration. 

Companies should also create a culture of trust and respect, which will help to foster a sense of shared purpose and drive employee engagement. In conclusion, Each successful company needs leadership, teamwork, and brainstorming. In the fast-paced and ever-changing business landscape of Bangladesh, it is essential for companies to foster a culture of strong leadership, effective team work, and innovative brainstorming in order to stay competitive and achieve success in today's global market. 

Additionally, companies in Bangladesh and around the world should invest in their employees by providing training and development opportunities, creating an environment that encourages open communication and collaboration, and fostering a culture of trust and respect to drive employee engagement.

 

Loan Disbursement Boosts Growth for Small and Medium Enterprises in Bangladesh: Facilitating Economic Development through Accessible Financing

Writer: Mahira Shamim. Session: 2017-18, Department of Finance, University of Chittagong

Small and Medium Enterprises (SMEs) play a pivotal role in the economic growth and development of any country. In Bangladesh, where SMEs are the backbone of the economy, the effective disbursement of loans to these enterprises has become a vital catalyst for progress. With initiatives aimed at increasing access to financing and streamlining the loan disbursement process, Bangladesh is witnessing a surge in SME growth, fostering a promising environment for entrepreneurship and job creation.

Recognizing the significance of SMEs, the government of Bangladesh has implemented various measures to support their development. One of the key strategies is ensuring easy access to loans and financial services. To achieve this goal, Bangladesh Bank (BB), the country's central bank, has taken steps to streamline loan procedures, enhance credit assessment mechanisms, and encourage commercial banks to allocate a specific portion of their portfolios for SME lending. These efforts have yielded remarkable results. According to recent data, SME loan disbursements in Bangladesh have experienced significant growth over the past few years. In 2022 alone, more than 70% of the total loan disbursements in the country were directed towards SMEs, amounting to approximately 300 billion Bangladeshi Taka (BDT).

The availability of accessible financing has empowered SMEs to expand their operations, invest in modern technologies, and explore new markets. With these financial resources, small and medium-sized enterprises have been able to enhance their production capabilities, upgrade their machinery, and improve the quality of their products and services. Consequently, SMEs have experienced increased competitiveness, both locally and internationally. 

The loan disbursement process has become more efficient and transparent, thanks to digitalization and technological advancements. Online platforms and mobile banking services have simplified the application process, reduced paperwork, and expedited the approval and disbursement of loans. This digital transformation has not only made it easier for SMEs to access funds but has also enhanced financial inclusion by reaching previously underserved entrepreneurs in remote areas. To the government's initiatives, the collaboration between commercial banks and SMEs has played a crucial role in the successful disbursement of loans. Banks have developed tailored financial products and services to cater to the specific needs of SMEs, including flexible repayment terms, lower interest rates, and customized collateral requirements. Moreover, dedicated loan officers and relationship managers have been appointed to guide SME owners through the loan application process, ensuring that they receive adequate support and assistance. 

The positive impact of the increased loan disbursement is evident in the overall growth of the SME sector. It has stimulated entrepreneurship, created employment opportunities, and contributed to poverty alleviation in the country. SMEs have emerged as key drivers of economic progress, promoting innovation, and fostering a spirit of self-reliance among Bangladeshi entrepreneurs. Where access to finance remains a significant hurdle for many small businesses as well, particularly those in rural areas or operating in informal sectors. To address this issue, continued efforts are required to improve financial literacy, promote credit guarantee schemes, and establish microfinance institutions dedicated to supporting SMEs in underserved regions.

In conclusion, the effective disbursement of loans to SMEs in Bangladesh has significantly contributed to the growth and development of the sector. Government initiatives, collaborative efforts between banks and SMEs, and technological advancements have revolutionized the loan disbursement process, empowering entrepreneurs and fostering economic progress. By further enhancing access to finance and addressing the remaining challenges, Bangladesh can continue to unlock the full potential of its SME sector, fueling sustainable economic growth for years to come.