HRM Practices in Real Estate Business of Bangladesh: A Study on BTI (Building Technology & Ideas ltd)

Abstract

The term paper report focuses on the Real Estate sector in Bangladesh, with a particular emphasis on analyzing the industry and the company BTI (Building Technology & Ideas Ltd.), whose Head Office is located at Plot – 3 & 5, bti, Celebration Point, Rd No 113/A, Dhaka 1212. I selected ten prominent Real Estate organizations based on specific criteria for examination. These organizations were reviewed to gain insights into the industry. The Real Estate business concept emerged in Bangladesh in the 1960s, pioneered by Ispahani and EHL. The industry thrived in the early 1980s, and currently, there are more than 1024 Real Estate companies in this sector, with the number growing daily due to the lucrative nature of the business. Companies in this sector offer 'unseen' products, showcasing flats through plans and locations. They require a minimal amount of capital from banks, with the industry's growth rate around 15%. The overall profit margin averages between 15% and 25%, making it an attractive sector for new businesses. The industry is currently in the growth phase of its life cycle, with some companies experiencing higher growth rates than others. This project report specifically discusses the Human Resource Management (HRM) practices of BTI (Building Technology & Ideas Ltd.). The ease of entry and exit in this sector has led to intense competition, resulting in some companies being forced out of the market due to poor management. Leading companies acquire the market share of these weaker competitors. Despite being established in 1984, BTI (Building Technology & Ideas Ltd.) is one of the largest companies in the Real Estate industry, holding a 10% share of segmented market areas in parts one and two. The current growth rate of the company is approximately 30%. The experienced top management adapts to the changing market behavior, displaying a flexible, situational management style. BTI strategically hires young staff for mid-level management to maximize benefits. The Corporate Branch of BTI currently employs over 350 staff, including drivers and office support staff. While the organization has successfully completed over 400 projects, approximately 50 projects are currently under development. The decision-making process is centralized, with the Chairman and Managing Director making all decisions. The company is now working towards delegating authority to mid-level management for prompt decision-making. BTI is committed to excellence and believes in everlasting achievements.