Philip Morris Bangladesh (PMB) is a full affiliate of the parent company Philip Morris International (PMI). PMB operates under PMI’s Asia Pacific Region headquartered in Hong Kong. Since its inception in 1847 in London (UK), Philip Morris has evolved into a global corporation. Accordingly, the management style of the company has also evolved with time. As a full affiliate of the parent company, PMB also follows a dynamic management in terms of style and practices similar to the parent company. In a nutshell, PMB has a decentralized but formal style of management.
While the company maintains a formal hierarchy, the management style can be characterized as decentralized due to the strategic independence it provides …show more content…
Teams are responsible for their strategic actions. Goal setting is done with the participation of respective team members. Teams rely more on self-organizing than on being vested on managerial hierarchy.
Although the management is decentralized in Philip Morris Bangladesh (PMB), it is still formalized. As part of the PMI family, it has certain formal rules and procedures when it comes to management. PMB follows a Standard Operating Procedure (SOP) to help employees carry out routine operations. The SOP, which is a set of step-by-step instructions compiled by the organization, is comprehensive, detailed and inclusive (see annex). Moreover, the organization maintains formal communication channels. Numerous formal and scheduled meetings i.e. quarterly meetings, regional meetings and global meetings are held regularly.
Management Approach to Market (Present & …show more content…
Later in 2014, PMI made a strategic shift towards signing a Contract Manufacturing agreement with SK Akijuddin Limited (SKAL) and Distribution Agreement with Akij Corporation Limited (ACL). Futuristic Approach
Likewise its global parent, PMB has a futuristic approach towards the market. Targeting the increased potentials of smoke-free products in the industry, PMB is also preparing for taking the leap towards a smoke-free future. As part of this PMB is now assessing the possibilities of launching new products like IQOS and Solaris (details in R&D section). Fig: Philip Morris Bangladesh Company Evolution & Product Launching Timeline
Product Launch Practice (Frequency, R&D Practice, Market Penetration