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Prime Bank Limited“A bank with a difference”

Term Paper

“Motivational Program of Prime Bank Limited”

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Term paper“Motivational Program of Prime Bank Limited”

Prepared by,

1. Ziaul Ahsan Chowdhury-09304129

2. Muntasir Zaman- 09304008

3. Laila Jebin-09104023

4. Md. Shariful Alam-09204092

Prepared for,

Afsana Akhtar

Assistant professor

BRAC University

MGT 211

Date of submission- 29/11/2010

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Letter of Transmittal

November 29, 2010

Afsana Akhtar, Assistant professor

BRAC University.

Subject: Submission of term paper on Motivational Program of Prime Bank Limited”

Dear Madam,

First, We should like to thank you for approving this important topic. The study has given us the

opportunity to get lots of theoretical knowledge in practical world. It was our pleasure to know

about a bank and how they do their work.

The term paper is basically deals with the Motivational Program of Prime Bank Limited (PBL).

We would try our level best and shall be obliged to provide you with any clarification regarding

the project.

Sincerely,

Name Signature

Ziaul Ahsan Chowdhury ……………………………………

Mutasir Zaman …………………………………….

Laila Jebin ……………………………………

Md. Shariful Alam …………………………………….

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Acknowledgment

At first, we would like to thank our honorable Course Instructor, Afsana Akhtar, Assistant

professor, BRAC University, for providing us with the opportunity to observe and analyze such

and interesting topic and, moreover for her invaluable guidelines, suggestions and advises

whenever needed.

Our sincere thank goes to Mr. MD. Monirul Haque Bhuiyan, Executive officer of Prime bank

limited for guiding us in every step, sharing his views and patiently answering all of our quarries

despite of his busy schedule. He was very cooperative and answered all our quarries. We never

thought we can so easily get all the information.

Finally, we thank Mr. Sayed Mahammad Ali Suhel, First Asst. Vice President of Prime bank

limited for his incomparable support. Without his support we would not be able to get the things

done so easily.

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Executive SummaryThis report consists of Motivational Program of Prime Bank Limited”

Which is a well-known bank in Bangladesh. It is a well-reputed and well-established bank,

which is operating in our country since 1995. Prime bank limited (PBL) is working to fulfill the

demand of consumer and services like Consumer Credit Scheme, Special Deposit Scheme,

Monthly Savings Scheme, Credit Card, PBL ATM Service, one stop service and many others.

But in every company there are some motivation programs. The report is based on the data

provided by the bank and the information gathered from some other important sources.

The first chapter of the report is the introduction. It contains starting of the report itself. Here

origin, description and objective of the report are described. Sources and limitations of the report

are also part of it. The most important parts of this report are the different processes or methods

use to motivate the employees.

The conclusions in the report are completely developed on the basis of the report. Thus the report

covers substantial amount of data and recommendations to analyze the motivation programs as

well as different strategies of Prime Bank Limited.

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Prime bank limited

TABLE OF CONTENTS

ContentsLetter of Transmittal..........................................................................................................3

Afsana Akhtar, Assistant professor....................................................................................3

Acknowledgment..............................................................................................................4

Executive Summary...........................................................................................................5

Prime bank limited............................................................................................................6

TABLE OF CONTENTS.........................................................................................................6

Origin of the Report..........................................................................................................8

Chapter 1:..........................................................................................................................9

1.1 Introduction:......................................................................................................................................9

1.2 Main objective:................................................................................................................................10

1.3 Specific objective:............................................................................................................................10

1.4 Scope:..............................................................................................................................................10

1.5 Limitation:........................................................................................................................................10

1.6 Methodology:..................................................................................................................................11

2. Chapter two:................................................................................................................12

2.1 Organization:...................................................................................................................................12

2.2 Function:..........................................................................................................................................13

Visions.............................................................................................................................. 13

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Mission............................................................................................................................13

2.3 Body of the report:..........................................................................................................................14

Positive reinforcement:.........................................................................................................................16

Participation:.........................................................................................................................................16

Job enrichment:.....................................................................................................................................17

Chapter 3:........................................................................................................................19

3.1 Recommendation:...........................................................................................................................19

3.2 Conclusion:......................................................................................................................................19

3.3 References:......................................................................................................................................20

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Origin of the Report

This term paper was given by our honorable course instructor, Afsana Akhtar, Assistant

professor, BRAC University, as the partial fulfillment of the Organizational Behavior

(MGT211).

We have done this report as because it is a part of our academic study. Which belongs to our

Organizational behavior (MGT211). Beside that, as a term paper it contains 15% mark of the subject. So

that, to get the experience about how they works and to get a good result of this specific course, we did

this project. Above all we are learning to write a term paper which will be beneficial throughout our life.

Course to gather knowledge and experience on analyzing the organizational motivation of

employees in Prime Bank Limited.

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Chapter 1:

Topic: The organization: Prime Bank limited (PBL)1.1 Introduction:

In the backdrop of economic liberalization and financial sector reforms, a group of highly

successful local entrepreneurs conceived an idea of floating a commercial bank with different

outlook. For them, it was competence, excellence and consistent delivery of reliable service with

superior value products.

As a fully licensed commercial bank, a highly professional and dedicated team is managing

Prime Bank Ltd. with long experience in banking. They constantly focus on understanding and

anticipating customer needs. As the banking scenario undergoes changes so is the bank and it

repositions itself in the changed market condition.

Prime Bank Ltd. has already made significant progress within a very short period of its

existence. The bank has been graded as a top class bank in the country through internationally

accepted CAMEL rating. The bank has already occupied an enviable position among its

competitors after achieving success in all areas of business operation. The bank has consistently

turned over good returns on Assets and Capital.

Profit of Tk. 3257 million and its capital funds stood at Tk 6382 million. Out of this, Tk. 2275

million consists of paid up capital by shareholders and Tk. 2659.21 million represents reserves

and retained earnings. The bank’s current capital adequacy ratio of 11.50% is in the market. In

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spite of complex business environment and default culture, quantum of classified loan in the

bank is very insignificant and stood at less than 1.35%.

1.2 Main objective:

Prime Bank Limited is a well-known bank in Bangladesh and we tried to make an effective

report on them. Our main objectives of the report are as follows:

1. To identify the different methods use by the company that they motivate their employees

and communication process.

2. To identify and evaluate is they using the right method.

1.3 Specific objective:

Our course instructor of Organizational behavior, Afsana Akhtar madam assigned us to prepare a

report on the Motivational Program of Prime Bank, a well known bank of Bangladesh as a partial

requirement of the course, to have a practical knowledge about the methods of motivational

programs. It helps us to gain our knowledge of managerial skills and leadership skills.

1.4 Scope:

Our main area of concern is motivational programs. We have worked and gathered all possible

information to learn recruitment procedure better. We also got to know about their motivation

processes and how the processes are helping them.

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1.5 Limitation:

The main limitation was the timing. It was not enough to get all the information in such a short

time. Getting appointment with officers was a great challenge. They do not want to disclose all

the information. As it is close to our end if semester each and every subject teachers made us

bound to do term papers and lots of quizzes were seduced in a short time. As a result most of the

time our group mates were unable to sit for discussions and managing time to visit the

organization with full team was a tough job. But with the grace of almighty Allah we could

manage that.

1.6 Methodology:

In doing our project, we were mainly furnished from secondary sources. The primary sources

were beyond our reach and consideration due to official policies.

The procedures followed were:

Interviewing the employees

Browsing the online relevant resources

Going through the press releases related to our project

Collect data from the company’s higher officials

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2. Chapter two:

Topic: Motivational program of Prime Bank Limited

2.1 Organization:

Prime Bank Limited is a private commercial bank in Bangladesh. It was established on April

17, 1995. It is now one of the banks in Bangladesh which follows international standard in

Banking and Finance. The bank has consistently turned over good returns on Assets and Capital.

During the year 2005, the bank has posted an operating profit of Tk.1520.34 million and its

capital funds stood at Tk.3177.32 million. Out of this, Tk.1400 million consists of paid up capital

by shareholders and Tk.1777.32 million represents reserves and retained earnings. The bank’s

current capital adequacy ratio of 9.96% is in the market. In spite of complex business

environment and default culture, quantum of classified loan in the bank is very insignificant and

stood at less than 0.96%.

Their vision is, to being a most efficient bank in terms of customer service, profitability and

technology application.

Their mission is continuous improvements in business policies and procedures.

Their efforts are focused on delivery of quality service in all areas of banking activities with the

aim to add increased value of share holders’ investments and offer highest benefits to their

customers.

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Their strategic policies are to have sustained growth, broaden and improved range of products

and services.

2.2 Function:

Service they offer:

Deposit Scheme

Loan Scheme

Islamic Banking

Prime Bank Ltd. offers all kinds of Commercial Corporate and Personal Banking services

covering all segments of society within the framework of Banking Company Act and rules and

regulations laid down by our central bank. Diversification of products and services include

Corporate Banking, Retail Banking and Consumer Banking right from industry to agriculture,

and real state to software.

Visions

To be the most efficient Bank in terms of customer service, profitability and technology

application. On delivery of quality service in all areas of banking activities with the aim to add

increased value to shareholders investment and offer highest possible benefits to customers.

Mission

Continuos improvement in our business policies and procedures cost reduction through

integration of technology at all levels. To have sustained growth, broaden and improve range of

products and services.

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2.3 Body of the report:

Employee motivation process:

Employee motivation process is very important part in an organization. Without employee an

organization can not run properly. First of we have to know about employee motivation. We

should have clear idea about it. Motivation is the result of the interaction between an individual

and a situation. We can define motivation as the processes that account for an individual’s

intensity, direction and persistence of effort toward attaining a goal. While general motivation is

concerned with effort toward any goal. Intensity is concerned with how hard a person tries for

achieve an organizational goal. Direction means how employees work towards beneficial goal.

And persistence means how long a person tries for an organization.

Now we are going to discuss about the employee motivation process and then analyses. In

Bangladesh perspective to motivate the employees we can use the techniques stated. Prime Bank

is one of the most productive banks in Bangladesh. So, they always try to use the motivating

stuff that the employee will be motivated. Motivating staff by training, self motivation,

recognition, awards, incentives, incentive programs, employee satisfaction, employee reward

programs, team building, employee recognition programs which will ultimately increase

employee productivity. Special motivational techniques identified after looking at all the theories

of motivation. These theories are applicable in the business environment of Bangladesh. This

are-

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Money: Economists and most managers have tended to place money high on the scale of

motivators, while behavioral scientists tend to place it low. If money is to be the kind of

motivator, managers must remember several things.

First: Money is likely to be more important to people who are raising a family. It is an urgent

means of achieving a minimum standard of living, although this minimum has a way of getting

higher.

Second: It is probably quite true that in most kind of business and other enterprises, money is

used as a motivator.

Third: Money as a motivator tends to be dulled somewhat by the practice of making sure that

salaries of various managers in a company are reasonably similar.

Fourth: If money is to be an effective motivator, people in various positions, even though at a

similar level, must be given salaries and bonuses that reflect their individual performance.

It is almost certainly true that money can motivate only when the perspective payment is large

relative to a person's income. The trouble with many wage and salary increases and even bonus

payments is that they are not large enough to motivate the receiver.

Here in Prime Bank, money is considered as a reward for the employee. All the employees are

well payment in every month. There are no conflict between the account section and the

employees those are worked for this bank. So ,the employees are always try to give their best for

this bank.

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Positive reinforcement:

Positive reinforcement approach has been suggested in Prime Bank. This type of motivation

helps the employees to think positive about the goal or objective. It strengthens employee

confidence to perform their activities. There are many kinds of positive reinforcement includes

in Prime Bank. They are-

a) Properly designed work environment.

b) Praising performance.

c) Removal of obstruction to performance.

d) Control planning and organizing.

e) Good communication.

Motivation approves the participation and encourages participation of the employee in planning

an objective and this participation helps the employees of Prime Bank in designing work

environment. Management should praise the performance of employee and always keep good

communication with the top, middle and lower level of employees. This will create positive

reinforcement.

Participation:

One technique that has been given strong support as the result of motivation theory and research

is the increased awareness and use of participation that Prime Bank has try to follow. There can

be no doubt that only rarely are people not motivated by being consulted on action affecting

them by being ''in on the act''. There is also doubt that most people in the center of an operation

have knowledge both of problems and of solutions to them. Participation is also a means of

recognition. It appeals to the need for affiliation and acceptance. Above all it gives people a

sense of accomplishment. But encouraging participation does not mean that employees weaken

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their positions. Although they encourage participation of subordinates on matters where latter

can help, and although they listen carefully, on matters requiring their decision they must decide

themselves. The best subordinates would not have it any other way and few subordinates can

ever have respect for a wishy-washy superior.

Job enrichment:

Job can be enriched by making it challenging and meaningful. This applies to the jobs of

managers as well as to the non-managers. Job enrichment is related to Herzberg's theory of

motivation, where factors such as challenge, achievement recognition, and responsibility are seen

as the real motivators.

In job enrichment, the attempt is to build into jobs a higher sense of challenge and achievements.

A job may be enriched by variety and Prime Bank try to follow. But it also may be enrich by-

a) Giving workers more freedom.

b) Encouraging participation and interaction.

c) Feeling of personal responsibility.

d) Giving feedback.

e) Involving workers in change management.

Sometimes Prime Bank motivates the employees by cultural show, lottery, contests, sports, their

intensive and air tickets for travel.

Thus Prime Bank Limited tries to follow this type of motivation process for the employees. We

think the process follows by Prime Bank are almost match with the theory of motivation process.

Before knowing how they communicate with various parties it is important to know why they

communicate. That means what is the purpose or objective to communicate with people and

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purpose actually determines how to reach target audience effectively. Prime Bank maintains

friendly atmosphere in the workplace and therefore communicates both informally and formally.

Information actually moves through two ways: Internal and external.

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Chapter 3:

3.1 Recommendation:

At last we can say that almost all the methods are using by the prime bank limited are almost

same with the theory of motivation process and communication process.

3.2 Conclusion:

The main objective of this report is to evaluate and analysis the employee motivation process of

Prime Bank limited. While doing this report, we found that PBL uses and implements different

strategies for maintaining their standard to select their employee. Proper utilization of all the

employee motivation and communication methods will helps the company to grow more.

A right and responsible employee motivation and communication process is an important factor

of modern business world. With the development of the business different companies are

maintaining a high level and standard of employee to gain a greater profit and most importantly

to make a good image in the mind of the consumer. People from all levels expect that companies

should not only look for profit but also they should work for their service quality also. So, in our

opinion the future prospect of PBL is very good in our country as they take will take more

competent employee to meet the demand of the consumer as well as hold the growing reputation

of the Prime Bank limited.

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3.3 References:

http://www.reportbd.com/articles/128/1/Motivating-employees-Need--Importance-of-

Motivation/Page1.html

http://en.wikipedia.org/wiki/Prime_Bank_Limited

www.primebank.com.bd

http://www.reportbd.com/articles/129/1/Motivational-techniques-for-employee-retention-How-

to-motivate-employees/Page1.html

http://www.reportbd.com/articles/121/2/Prime-Bank-Limited-The-Organization/Page2.html

Robbins. P.S and Calter.M (2005) Management, 8th edition, New delhi: Purentic.

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