Assignment on Measuring level of satisfaction of SME clients of Standard Chartered bank

This report named “Measuring level of satisfaction of SME clients of standard chartered bank” is an outcome of my four moths duration course of “ Business research method” It has been prepared for the partial fulfillment of Masters of Business Administration (MBA) program. It is unanimously agreed that economic development of Bangladesh is synonymous to the development of Small and Medium Enterprises. SMEs account for 80% of our manufacturing output and labor force. They are primarily dominant in the backward and forward linkage industries, which are crucial for our global competitiveness. Although every one involved understood the potentials of SMEs, but the supports in terms of financial and infrastructural are found inadequate. This sector has been found unattended from the government and financial institutions since the very beginning of this country.

In this report the problems of SMEs are segregated in two sides, as the problems faced by SMEs in business and the problems related to SME banking. Here Standard Chartered Bank is considered as a model of a financial institution having business in SME banking. The study noticed that lack of government support, infrastructural complexity, inadequacy of correct information and unwilling attitude of financial institutions are the key hindrances for the development of SMEs. Recently some financial institutions step ahead to finance SMEs with special care after initiation of the prudential guideline of Bangladesh Bank for financing small enterprises. Therefore in Bangladesh financial institutes under umbrella of SME banking only finance the small enterprises with limited product line (primarily OD and term loan) with an average ticket size of Tk. 30 lakh. Since there is no specific guideline for financing medium enterprises, they are catered through either corporate banking or branch network where in most cases they cannot get the optimum support.

We all agree that SMEs are the backbone of our economy. So they must be treated with special care. If we failed to provide them optimum support to grow, country will face serious economic crisis in future.

Small and Medium Enterprise (SME) is, in context of Bangladesh and other development countries, the most prospective sector and extensive generator of overall economic growth. Most of the relevant literature for the purpose of the study was reviewed and unequivocally agreed that in Bangladesh, SMEs are significant contributor of the country’s economy.

Despite being very prospective, there is a little institutional and financial support for the development of SMEs in Bangladesh. Accordingly, due to the absence of structured government policy and definition for SMEs, identification of these enterprises, determination of their financial condition, evaluation of their needs, gaps and potentials are extremely difficult. However, SMEs are also not aware of the available opportunity.

 

Knowledge and learning become perfect when it is associated with theory and practice. Theoretical knowledge gets its perfection with practical application. As our educational system predominantly text based, inclusion practical orientation program, as an academic component is as exception to the norm. As the parties, educational institution and the organization substantially benefit from such a program, it seems a “win-win situation”. It establishes contracts and networking contracts. Contracts may help to get a job. That is, students can train and prepare themselves for the job market.      

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