Bank Asia Limited

Bank Asia Limited is a scheduled commercial bank in the private sector established November 27 1999 under the Banking Company Act 1991 and incorporated in Bangladesh as a public limited company under the Companies Act 1994 to carry out banking business in Bangladesh. Bank Asias vision is to have a poverty free Bangladesh in course of a generation in the new millennium, reflecting the national dream. Our vision is to build a society where human dignity and human rights receive the highest consideration along with reduction of poverty. Mission of Bank Asia to assist in bringing high quality service to our customers and to participate in the growth and expansion of our national economy, to set up high standard of integrity and bring total satisfaction to the clients, shareholder and employees. And to become the most sought after bank in the country, rendering technology driven innovative services by our dedicated team of professionals.

Stakeholders: All the people who stand to gain or lose by the policies and activities of a
business, for eg customers, employees, stockholders, suppliers, dealers, bankers,

environmentalists, government. Without these stakeholders we cant run our business. So these stakeholders are important for our business.

Important stakeholders of Bank Asia:

Customers:

A Customer is a person who is using any or all of the services offered by the bank. For example a Person who has taken a Loan of $100,000 from the bank. Any person or business wishing to deposit money, or borrow money, or to convert money into a different form of currency, is potentially a customer for a bank. Customer can be the business people, the local people.

Suppliers:
Suppliers are someone whose business is to supply a particular service or commodity. In a Bank suppliers are those who supplies furnitures like OTOBI limited, PARTIX etc. The IT Companys who provide their software, computer companies who provide computer to the banks like HP, Acer companies etc.

Competitors:
Competitors are One that competes with another, as in sports or business; a rival. Seller of a product or service whose product or service can be used to fill or satisfy a consumer need (real or imagined) in a market where other sellers offer products that will also fill or satisfy the same need. Like Bank Asia competitors can be BRAC Bank, City Bank, HSBC Bank etc. Each bank can give different scheme to attract the customers. Like car loan, home loan and credit card facility.

Employees:
An employee may be defined as: "A person in the service of another under any contract of hire, express or implied, oral or written, where the employer has the power or right to control and direct the employee in the material details of how the work is to be performed." In a commercial setting, the employer conceives of a productive activity, generally with the intention of generating a profit, and the employee contributes labour to the enterprise, usually in return for payment of wages.

Community:
The word "community" is derived from the Old French communit which is derived from the Latin communitas (cum, "with/together" + munus, "gift"), a broad term for fellowship or organized society. Community is a place where business takes place.

Shareholder:
A mutual shareholder or stockholder is an individual or company (including a corporation) that legally owns one or more shares of stock in a joint stock company. A company's shareholders collectively own that company and are the members of the company by signing the memorandum of association. Thus, the typical goal of such companies is to enhance shareholder value. Stockholders or shareholders are considered by some to be a partial subset of stakeholders, which may include anyone who has a direct or indirect equity interest in the business entity or someone with even a non-pecuniary interest in a non-profit organization. Thus it might be common to call volunteer contributors to an association stakeholders, even though they are not shareholders. Although directors and officers of a company are bound by fiduciary duties to act in the best interest of the shareholders, the shareholders themselves normally do not have such duties towards each other.

Media:
In general, "media" refers to various means of communication. For example, television, radio, and the newspaper are different types of media. The term can also be used as a collective noun for the press or news reporting agencies. In the computer world, "media" is also used as a collective noun, but refers to different types of data storage options. Media plays a vital role in

banking sector now media makes banking work faster than past. So it is one of the important stakeholders of Bank Asia.

Government:
A government is the organization, or agency, through which a political unit exercises its authority, controls and administers public policy, and directs and controls the actions of its members or subjects.[1]Growth of an organization advances the complexity of its government, therefore small towns or small-to-medium privately operated enterprises will have fewer officials than typically larger organizations such as multinational corporations which tend to have multiple interlocking, hierarchical layers of administration and governance. As complexity increases and the nature of governance become more complicated, so does the need for formal policies and procedures. Every bank follows few rules and regulation which is given by the government.

Critical stakeholder of bank Asia:

Critical stakeholders are the stakeholders who are more vital stakeholder for the organization. Like other organization bank Asia also has some critical stakeholders. They are:

Employees:
Employees are the most critical stakeholders of bank Asia because without employee we cant run our bank. Employees are critical stakeholders to bank because they are one who works day and night. And because of them bank goes to a success.

Customers:

We generate revenue and profit from customer so without customer our survival is impossible. So they are one of the most critical stakeholders of Bank Asia.

Shareholder:
Shareholders are also critical stakeholders in an organization because they are one who invests their money to reach the companies destiny. They are the owner and decision makers of an organization. So they are critical stakeholder of bank Asia.

Suppliers:
Without suppliers organizations does not get their necessary things like Furniture, computers, IT Company providing software etc. like other organization Bank Asia also needs furniture, computer, software etc. so supplier are critical stakeholder to Bank Asia.

Government:
The name of our central bank is Bangladesh Bank. This bank works in favor of government. This bank is called banker of bank. Bangladesh Bank gives some rules and regulations which all banks follow.

Why they are critical stakeholders:

We have many important stakeholders as we mentioned above out of these only few stakeholders are the critical stakeholders for Bank Asia for eg employees, shareholders, suppliers, customers and government. These five stakeholders are the critical stakeholders because out of these five stakeholders each and every stakeholder plays vital role for Bank Asia. if we leave any of them

then we are not able to run our business successfully. But if we dont have media, competitor, community then we are able to run our business successfully.

References:
Retrieved from "http://en.wikipedia.org/wiki/Shareholder" Categories: Stock market Raymond Markey, Ann Hodgkinson, Jo Kowalczyk (2002), Gender, part-time employment and employee participation in Australian workplaces Employee Relations, Vol. 24 Iss. 2 Pp. 129 150 ^ Dictionary.reference.com, cites 3 separate dictionaries ^ Fotopoulos, Takis, The Multidimensional Crisis and Inclusive Democracy. (Athens: Gordios, 2005).

INDEPENDENT UNIVERSITY, BANGLADESH

BUS 201: Introduction to Business Prepared for: Mrs. Farzana chowdhury Sec: 03 Assignment: Stakeholder Relationship Bank Asia Submitted by: Syed Khaled Hossain ID: 0810037 MD. Rana ID: 0810062 Subrata Kumar datta ID: 0830161 Nasirn Mahmud Munia ID: 0930295

Submission date: 19/09/10