Course: MGT489

Section: 18

Submitted To:
Syed Javed Iqbal
Department of Management
School of Business and Economics
North South University.

Submitted By:
Group: C
Name ID
Md. Munna Miah 1610080030
HumayraBinta Rashid 1610031030
Hasan Md. Arafat 1610302030
Taskin Sultana 1330849030
KhadizaAkter 1512136030
Riad Ahmed 1621377030

Submission date: 17th December, 2019

17th December, 2019

Syed Jabed Iqbal

Lecturer, Department of Management

North South University, Dhaka, Bangladesh.
Subject: Report Submission on Strategic Management of Shajgoj limited.
Dear Sir,
In response to the project, which was given to us as a part of our Strategic Management course,
we have prepared this report. Here we worked on Shajgoj limited, and we collected our
information from secondary sources.
We have tried our best to complete this paper meaningfully and correctly, as much as possible.
We sincerely hope that you will find this report useful and appropriate as per the requirements.
We seek your pardon for the unexpected mistakes that we have done throughout the report.
However, if you need any assistance in interpreting this paper please contact us without any kind
of hesitation.
It will be very kind of you to examine our project work and give us further suggestions and
enhance our skills for future prospects.
Thank you.
Regards,
Md. Munna Miah
Humayra Binta Rashid
Hasan Md. Arafat
Taskin Sultana
Khadiza Akter
Riad Ahmed

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 Acknowledgement

All praises to almighty, the lord of the whole universe and the greatest force behind success.
We feel great pleasure and honor to express our heartiest gratitude and a deep sense of obligation
to our course instructor Mr. Syed Jabed Iqbal. His valuable guidance and advice inspired us
greatly to work on this project. His willingness to motivate us contributed tremendously to our
project.
We would like to thank the authority of North South University for providing us with a good
environment and facilities to complete this project. We are also grateful to those who have
directly and indirectly contributed towards the preparation of this project, especially the group
members.

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 Executive Summary

Shajgoj limited is a startup company which started its journey in 2013. Shajgoj limited is
basically belongs to e commerce industry in Bangladesh. The CEO of Shajgoj limited is Sinthia
Sharmin Islam who is founder of Shajgoj limited. They are basically import girls beauty products
and sell that in domestic market in online. The target customer of Shajgoj limited are girls and
women in Bangladesh. They have many suppliers who provide beauty products and also provide
different suggestions or advice to develop their business. Shajgoj limited has 85+ employees
with 6 different departments. Besides, they have some essential resources like human resources,
web site, web trainer, apps etc. which help to work business model effectively. Shajgoj limited is
currently belongs in growth stage of an industry life cycle and developing day by day. Although
they have some weaknesses like fund crisis, poor management system, lack of controlling etc but
at the same time they have many strengths like they have their own apps, blog site, strong
marketing strategy, provide authentic products etc. There is a huge opportunity for shajgoj
limited to develop their business in Bangladesh as e commerce industry is expanding day by day
and number of internet users increasing. Although there are also some risks like number of
competitors increasing and at the same time competitors offering low price so to survive in the
industry is very difficult. One of the most valuable competitive advantages of Shajgoj is they
have their own blog site where another company doesn’t. Financial position of Shajgoj limited is
average as they are new in the industry. Although their net profit margin is good but asset
turnover ratio is very poor. Shajgoj limited can follow some strategy like the right person for the
right position, stock based compensation, differentiation etc. to develop their business. Besides,
they can follow horizontal integration strategy like merge with their competitors to reduce
competition in the market. They can also some business level and functional level strategy to
expand their business in future like they can develop new market and focused low cost strategy.
Finally, to survive in the market Shajgoj must follow first mover advantages as there is a high
possibility to enter new competitors in the market. One of the best cultures of Shajgoj limited is
they think every employee is equal to them and celebrate any programme together like when sell
increase and they give credit all employees behind the increasing of sell.

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Table of Contents
Company overview ....................................................................................................................................... 6
Internal Environment .................................................................................................................................... 7
Industry Analysis ........................................................................................................................................... 8
Porter's Five Forces ....................................................................................................................................... 8
Industry life Cycle ........................................................................................................................................ 10
PEST Analysis ............................................................................................................................................... 11
Company Analysis ....................................................................................................................................... 12
Competitive Advantage .............................................................................................................................. 15
Analysis of Financial performance .............................................................................................................. 16
Business Model ........................................................................................................................................... 19
Recommendation........................................................................................................................................ 21
Corporate Level Strategy ............................................................................................................................ 22
Business Level Strategy ............................................................................................................................... 24
Functional Level Strategy ............................................................................................................................ 25
Technology strategy .................................................................................................................................... 26
Implementation of strategic plan ............................................................................................................... 27
Corporate governance ............................................................................................................................ 27
Strategic control system ......................................................................................................................... 28
Company culture ..................................................................................................................................... 28
Global Strategy........................................................................................................................................ 29
Ethical value proposition ........................................................................................................................ 29
Conclusion ................................................................................................................................................... 30
Bibliography ................................................................................................................................................ 31

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Company overview

“Shajgoj” Limited started their journey in 2013, with the vision to improve health and beauty tips
to their customers. They provide life style especially beauty and healthcare related suggestions to
their customers. Company started with the idea generation from basic inspiration that encourages
Entrepreneur & Co-Founder Sinthia Sharmin Islam (Director) who first grooms the idea to create
such type of company along with CEO Nazmul Sheikh (MD) along with Co-Founder Sardar
Mohammad Milky Mahmud (Director). (Shajgoj.com)
They began their journey in 2013 but mainly they entered their E-commerce platform in 2016.
This company generates different types of content over different beauty & health related
solutions. Besides they also sell many beauty and healthcare products as well like: Makeup
products, beauty care, health care, hair care products etc. They also help their customers to
choose among thousands of products that suit their desirability most. They have their own Face
book page and blog as well “shajgoj.com”. They also opened E-commerce site of the company
“shop.shajgoj.com” from which they receive their order and deliver goods within 24 hours. They
use to update their product line online on a regular basis and suggest those to customers with the
help of their own beauticians, expert dermatologists etc. They have their two physical shops in
Jamuna Future Park and Dhanmondi Shimanto Square with the shop named Shajgoj.
Shajgoj mainly deals with the vendors like USA, India, UK, Korea & Bangladeshi vendors etc
and also other large vendors and provide it to the end users in our country which shows that this
organization is doing B2B business with other big countries and vendors. They also try to
maintain good relationships with their suppliers and vendors by creating opportunities and easy
supply chain processes. This enables them to buy in bulk and provide it to their customers at an
affordable price.
Except for this, “SHAJGOJ” also delivers their products and sells to the individual customers as
well through their online pages, websites and physical stores. This indicates that they also try to
interact with their end users as well to generate their sales to create a good B2C relationship with
their potential customers. This organization also keeps a good network with their customers and
end-users by giving promotional offers and gifts. They value their customers by giving
membership, discount card, VIP card and other facilities to create a friendly environment with
the customers to make them purchase again. Rather they also focus on the quality assurance of
their products that suits their end-user.
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Shajgoj limited is growing their business day by day. When they started their journey in 2013
they had got orders 30 to 45 per day but currently they serve 500+ orders per day. In 2018 their
average order was 260 per day. The growth rate of their sales is between 2018 and 2019 is
almost 92%. So, they are successfully able to develop their business. Strong marketing strategy,
Management, and efficient resources are the main reasons behind this development of Shajgoj
limited. (Shajgoj.com)

Internal Environment

Shajgoj limited is located in pragati sarani road, Dhaka. The office space is 3500 sq ft with a
friendly environment. There are eight departments like managing director, HR, Finance &
Accounting, Supply chain, Content team, SEO, CRM, Video editing team. The total employee of
Shajgoj limited is 85+. The environment is very friendly, why not every department works
together and communicates with each other easily.

Shajgoj limited has different types of resources that help to work business model. Human
resources, Information technology, web site, Apps, web trainer are the most important resources

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of Shajgoj limited. Although shajgoj limited fail to use their assets efficiently but they are using
other resources effectively that’s why they are growing day by day.

Industry Analysis

Industry refers to a group of companies who provide the same services and their targeted
customers are also similar. Shajgoj limited belongs to the E-commerce industry in Bangladesh.
Basically Shajgoj limited is selling products online using websites via internet. (Brainstone23)

Porter's Five Forces

Shajgoj is an online media and a futuristic e-commerce platform that provides tools to teach,
inspire, and enable creativity among Bengali speaking women and girls around the world. It has
to deal with different external factors. Five forces is an analysis showing the intensity of
competition in the industry along with the profitability of a business. The level of competitive
intensity and therefore, the attractiveness of an industry in terms of its profitability. The
following shows the level of intensities of the external five force of Shajgoj. (Fintech)

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Intensity of Rivalry: Competition in an industry is always an important factor while entering
into a market. Especially in the E-commerce industry competition is the most external force to
consider. In this market, the intensity of rivalry is very high. Therefore, shajgoj will face the high
intensity of competition in the market. In this market there are a lot of other firms operating and
offering their product to the customers. Since there are many companies in the market and
offering some sort of products, the switching cost for the customer is very low. As there are
several options available in the market, building brand loyalty is difficult for companies like
Shajgoj.

Bargaining Power of Buyers: In his business, a company’s business entirely depends on the
response of the customers to the product. Hence, for Shajgoj the bargaining power of buyers is
high. As there are a lot of competitors in the market, the switching cost for customers is very
low. All the information about the products is available to buyers which give them opportunities
to judge and pick the best option considering their needs. Therefore, the buyers have high
bargaining power over the companies and Shajgoj have to provide the best quality product at
minimal price.

Bargaining Power of Suppliers: the bargaining power of suppliers in the market is considered
to be moderate. The number of average suppliers in this business is moderate. Still, Shajgoj had a
wide range of options to get their suppliers. Besides, the company shares a very good
relationship with its suppliers as well as the customers. So therefore, the bargaining power of
suppliers is moderate.

Threat of Substitute: Substitutes for products can be a big threat to Shajgoj by reducing the
profitability of the company. The products that Shajgoj offers are less likely to be substitute
which makes the threat of substitute very low. The company has been providing very good
quality products which have made them a trusted name to the customers. Customers are less
likely to switch for any substitute product.

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Threat of New Entrants: The cost of brand development is very high in the industry. Hence
for a new company brand development is quite difficult. Secondly, the new entrances face a very
high economy of scale. The existing companies already reached their economy of scale which
makes it difficult for new companies to match the price. Also customers don't change their loyal
brands for the beauty products as there are lots of fake products in the market and customers are
very conscious about their make-up and beauty. Therefore, the threats of new entrants are low
for shajgoj. (Daraz)

Industry life Cycle

We know that there are five stages of life cycle in an industry. Shajgoj limited started its journey
in 2013 and that was their embryonic stage in industry as that was starting. Now shajgoj is
growing day by day and their sells also increasing so they are now in growth stage in Industry.

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PEST Analysis

PEST analysis examines and shows the external factors a company will face and must abide by.

Political Factors: Shajgoj limited is running its business in Bangladesh since 2013. Hence, the
company has to abide by the regulatory laws and restrictions of Bangladesh. If Shajgoj violates
any law, it will face many legal problems such as getting fined, civil and criminal charges. There
are many restrictions and regulations regarding export, import, trade which must take into
concern while running the business. (rahamn)

Economic Factors: A company’s success directly depends on its customer. Consumers are
more likely to want good quality products at a cheap price. Considering the competition the
company has to offer a price that meets the consumers’ expectations. If the demand of the
products goes down, the company won’t be able to keep its profitability. Since Shajgoj limited is
operating in Bangladesh, it has to have some knowledge about the demand conditions in that
particular area.

Social Factors: Shajgoj has a good reputation in the market and a trusted name amongst the
consumers. Since most of the products of Shajgoj are related to personal care, the company
delivers a message that shows the will make them look good.

Technological Factors: Shajgoj limited is using new technology to produce new products while
maintaining quality. The company is selling the product online. Digital marketing is also playing
an important role in its success. The new automation system has also become an essential tool to
quicken the supply chain management.

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Company Analysis

Strength
 Apps: Shajgoj has their own organized website through which customers can buy their
desired products and also they share all the content of particular product which makes the
customer easier to find their needs and interest.
 Blog site: They provide every particular product content and videos at their blog site
which makes their customers inspire to use those products. Also easy to read and
understand details about the products and its usage.
 Two physical stores: Shajgoj also has their physical store in Jamuna future park and
Shimanto square where customers can buy their products directly from stores.
 Strong marketing strategy: The marketing sector of Shajgoj helps to communicate with
their customers in an effective way that helps them to attract them make them the loyal
one for repeating purchase Shajgoj did a lot of market research before launching their
products. They also find out their potential target customer group to grab in a well-
mannered way. For this they use different promotional activities like advertising, online
marketing, social marketing and their own website as well. This type of activity includes
a lot of people to make the whole process work in a decent way that creates a lot of
scopes.
 Efficient human resources: There are many undergraduate fresher's and senior students
who are studying want to do part-time jobs or internship in a company like Shajgoj. As a
startup company Shajgoj highly encourage them to be a part of their company and
students are also very interested to work with them because new companies have some
potentials where fresher's and fresh graduate students can show their creativity and
knowledge which they can’t in an established company. So, Shajgoj has an efficient
human resources.
 Good relationship with supplier: Shajgoj has maintained a very good relationship with
their suppliers who help the business model work. Their suppliers are Unilever, Dabor,
Reckitt Benckiser, kumarika etc.

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  Authentic and high quality product. As this market has a lot of competitors, Shajgoj
always tries to maintain the authenticity and high quality products at a very minimal
price.

Weakness

Fund crisis : As Shajgoj limited is a startup company so there is a difficulty to collect investors
to invest in this company. They failed to collect funds from investors, which is one of the major
weaknesses of Shajgoj limited.

Lack of control: There are 90+ employees who are working in this company. The problem is
that Shajgoj limited is not able to control their employees like they didn’t evaluate the
performance on time and many employees didn’t maintain time and Shajgoj limited don’t look at
this perfectly that is another weakness of Shajgoj. (Shajgoj.com)

Weak management system: Management system is very poor in Shajgoj limited. There is less
formality in communication between boss and employee. Besides, Top management has failed to
manage the company properly as they have less knowledge about management because 3 top
MDs have completed their undergraduate from BUET.

Weak brand reorganization: As Shajgoj limited is new in the market so they can’t highlight
their brand image properly yet. Over the years Shajgoj has tried to position itself as a premium
brand as well, but it has consistently failed. Increasing competition and lack of brand image is
the biggest weakness of Shajgoj.

Failure to provide employee motivation: motivation to employees is one of the most important
tasks for top management. But Shajgoj limited is fail to motivate their employees properly that’s
why they don’t work properly, which is one of the most important weaknesses of Shajgoj
limited.

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High employee turnover: Shajgoj limited is an e-commerce company in Bangladesh. The work
efficiency between new employees and old employees is very different. Shajgoj limited has high
employee turnover, which is the major weakness of Shajgoj limited. For high employee turnover,
one of the main causes is less training duration.

Opportunity

 Expanding over Bangladesh: Shajgoj can expand their business over Bangladesh. This
is the biggest opportunity that can make Shajgoj competitive in the foreign market.
 Every day the number of internet users is increasing: In today’s world the internet is
the most powerful way of communication. Almost every day the number of users are
increasing which is a big opportunity for Shajgoj to grow their business.
 Product extension: Shajgoj can broader their business by product extension which is the
opportunity to increase their profit. By introducing new product lines they can gain
competitive advantage in the market. (Export.govt)
 Invest in R & D: Shajgoj limited can invest in the research and development department
which can improve the possibility of offering new innovative products.

Threat

 More Competition: As there is a lot of E-commerce business in Bangladesh so there is a

huge competition in the market. So Shajgoj has to be more efficient and effective to be
competitive and successful in the market.
 Competitors offering low price: Sometimes competitors are offering very low price and
seasonal sale that makes Shajgoj threats to maintain their quality at a minimal price.
 Any problem with the internet system will slow down the system: In our country the
problem of network and internet is an everyday problem. Because of internet problems,
the Shajgoj website can also slow down.

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  Change in consumers taste: The taste of consumers is constantly changing, which puts
pressure on the company. The company has always changed their offerings. (Journal of
Marketing)

Competitive Advantage
There are many E-commerce companies in Bangladesh. Besides, there is huge competition
among these companies. So, to win this competition a company should do something different
from others. The main competitors of Shajgoj limited are Daraz, The mall bd, Banglashoppers
and so on they all are selling products online and their activities are almost the same. But one of
the valuable competitive advantages of Shajgoj limited is the Blog site. There is no blog site like
Shajgoj in Bangladesh. There is a lot of beauty and food related content and so on published in
this blog site and customers enjoy this strongly. Besides, Shajgoj has their own content writer
team where another company doesn't have. inventory vendor system is very important for a
company. Daraz, Banglashoppers have poor inventory vendor where Shajgoj limited has own
strong inventory vendor system that's why they can make sure authentic products. Finally, it both
does content marketing and SEO both which other companies do not.

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Analysis of Financial performance

As Shajgoj limited is a startup company so its overall performance is average. There are some
weaknesses both financial performance and financial position of Shajgoj limited. They aren't
able to maintain certain cash against their debt. Besides, they fail to use their assets effectively.
The following shows the financial statement of Shajgoj limited.

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 Evaluate the performance

Particulars 2017 2018

Current Ratio 1.13 1.13

Inventory turnover 7.47 7.12

Net profit margin 4% 7%

Debt to Equity Ratio 1.80 1.70

Asset turnover .37 ..40

Equity multiplier 2.77 2.70

ROA 1% 3%

ROE 4% 6%

EPS 1.13 2.23

We can see in the above table that the current asset is very weak against current liabilities that
means Shajgoj limited is less able to meet current obligations by the current assets. Besides, their
efficiency level of using assets is also very low that affects overall performance. Although their
profit margin is increasing, their Return on Asset is very low. Although their EPS is increasing,
they are in a very risky position as their leverage ratio is high.

DuPont Analysis:

Return on Equity = Net Profit Margin x Asset Turnover Ratio x Financial Leverage
= (Net Income / Sales) x (Sales / Total Assets) x (Total Assets / Total Equity)
= (18,900,000.00 / 200,000,000.00 )* ( 200,000,000.00/ 532,448,678.00 )* ( 532,448,678.00 /
192,073,319 )
= .04 * .37 * 2.70
= 4%

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Here we can see that the efficiency level of assets is very low, that's why Return on Equity is
affected. So we can see that Shajgoj limited can’t use their assets properly. Although leverage
and Net Profit Margin ratio is high that’s why ROE high but Asset turnover ratio is very low.

Business Model

Key Partners: key partners are the relationships with other businesses who help business model
work. In the business model the main key partners of Shajgoj limited are Unilever, Dabor,
Reckitt Benckiser, kumarika etc . These key partners deliver the products to Shajgoj at the same
time helps to work Shajgoj’s business model.

Key activities: As there are huge competition among e-commerce companies like
Banglashoppers, Daraz, The Mall etc. Shajgoj should do something different from others. The
main activities of Shajgoj are marketing and promoting their products that activities help to
increase sales. Control of supply chain is also supposed to be one of the key activities of shajgoj
limited.

Key Resources: Every business model requires some building blocks that describe the most
important assets needed to make a business model work. Human resource and Information
technology, Apps, personal trainers, web builders etc. are the most important key resources of
Shajgoj limited that make value for Shajgoj limited.

Value proposition: Value proposition means what is delivered by the company to make money
or value. On the other word value proposition means why customers buy products from that
particular company not from another similar company. One of the main value propositions of
Shajgoj limited is inspiring women about uses of product by content marketing and publishing
video on that particular product. Another is Shajgoj limited has two physical stores. That's why
customers can buy products directly from these stores.

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Customer relationship: Shajgoj has a direct relationship with customers because customers can
directly contact Customer care of shajgoj before ordering a product.

Channels: Channels refers to the way of communication between customers and the company.
The main channels of Shajgoj limited are Social media, Web site, App and CRM.

Customer segments: Customer segmentation is the practice of dividing a customer base into
groups of individuals that are similar in specific ways relevant to marketing, such as age, gender,
interests. The targeted customer of Shajgoj is basically girls and women. Currently they also
focus on targeting men.

Cost Structure: Cost structure refers to the types and relative proportions of fixed and variable
costs that a business incurs. Shajgoj’s costs are Part time employee salary, Web maintenance cost
and advertising cost etc.

Revenue streams: Revenue streams is a source of revenue of a company or organization.

Supplier commission fee, social media subscriber fee, Ads fee, Video fee and Content writing
fee are the revenue streams of Shajgoj limited.

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Recommendation

By analyzing the above mentioned sections we have come up with some suggestions for Shajgoj
which they may follow to improve the company's profitability and to create a competitive
advantage for the next five years.

1. Right person to the right position: We saw in the SWOT analysis that Shajgoj
faced some managerial problems. Human Resource Development should play the most
important role in solving this issue. Based on the needs of the company and the expertise
of that employee, they should hire or appoint the manager. They can help them to solve
their problem. Moreover, they can arrange training programs for their employees.

2. Share-based compensation: In the SWOT analysis we have seen that Shajgoj

has been going through a fund crisis. To overcome this problem Shajgoj can offer their
employees to buy a share of the company. After buying the shares, employees will get a
portion of the profit. In this process, Shajgoj can create funds for investment as well as
employees can make more money from it. Their employees will start to work harder and
more effectively to make more profit. Because, the more profit the company makes, the
more money they will get.

3. Differentiation strategy: As they are not the greatest differentiator in the

industry, they can go for further differentiation but as it will increase the overall cost, they
should go for value innovation at the same time. Value innovation will give them greater
differentiation at a lower cost.

4. Focus on rural market: We found in our study that Shajgoj is not focusing on
Bangladesh's rural markets. Most of the population in Bangladesh live in rural areas and
have no brand awareness, their only concern is the price. The company should follow a
specific low-cost strategy that targets a big market with low cost products. Shajgoj should
launch some new brands that are going to be low-priced items based on those people's
preferences.

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 5. Product bundling: We have found from our analysis that Shajgoj has some
products that are lacking and not growing sufficiently. The company should follow
Product Bundling strategy to increase the sale of these products.

6. Increase Asset turnover: By analyzing the financial performance of Shajgoj

limited we found that their efficiency level of using assets is very low. That’s why their
asset turnover ratio is very low means they are not utilizing their assets properly. To
improve that they need to focus on increasing revenue by increasing sales. They should
liquidate their unused assets quickly. The company should invest in technology and
automate the order, billing and inventory systems. This will improve sales and increase
the asset turnover ratio.

7. Focus on new innovation: Shajgoj limited is not focusing on new innovation.

They follow almost the same process that most of the competitors are following. They
should invest more on product or process innovation so that they can get new distinctive
competency which will increase the profitability.

Corporate Level Strategy

Corporate level strategy deals with long term decisions of a corporation, taken by the top-level
managers. It also talks about the mission and the vision of the corporation. Corporate level
strategy affects the decisions and strategies taken up by all the other parts of the corporation and
should be implemented across the whole corporation. To achieve the desired target different
strategies can be implemented simultaneously across the corporation. Though corporate level
strategies should be very specific, it should have some level of flexibility as the market is
uncertain and subjected to change. With the purpose “To make a difference by giving people
innovative solutions for healthier lives and happier homes”, Shajgoj limited has been running
their business since 2013. And to attain this dominant position in the industry and to hold on to it
for Shajgoj limited had to take up different strategies in its corporate level and implement them
successfully throughout this entire period of time.

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Horizontal Integration: This is a process of acquiring or merging with industry competitors to
achieve competitive advantage. As Shajgoj limited is a startup company so acquiring a whole
company is very difficult for shajgoj. Besides, there are some cons of acquiring a new company
that will be very risky for a Shajgoj company. So, merge with competitor company will be the
best alternatives strategy for Shajgoj limited. If they merge with another relevant company then
they will be able to achieve economy of scale. Their cost structure will be lower. Besides, they
will be able to increase product differentiation and increase bargaining power in the industry.
Competition in the industry will be low for horizontal integration so Shajgoj limited can increase
sales in the market. So Shajgoj limited can merge their business with another company like
Daraz or The mall bd.

Market Development: Market development strategy entails expanding the potential market
through new users or new uses for a product. Most of the e-commerce companies in Bangladesh
target only Dhaka city's customers. As Shajgoj limited sell beauty products and their targeted
customer women and girls so they can develop a new market through existing products. So they
can focus not only on Dhaka city’s customers but also rural area’s customers.

Related Diversification: Related Diversification occurs when the company adds to or expands
its existing line of production or markets. Shajgoj limited is currently selling girl’s beauty
products only. Nowadays we can see that boys are also concerned about their skin. Shajgoj
limited can expand their existing market by targeting boys. They can start selling boys skin care
products also. As they are growing day by day so they can expand their business by related
diversification. There are huge men’s skin care products so they can target boys also.

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Business Level Strategy

Business-level strategy focuses on how to attain and satisfy customers, offer goods and services
that meet their needs, and increase operating profits. To do this, business-level strategy focuses
on positioning itself against competitors and staying up to date on market trends and technology
changes. Shajgoj limited is a startup company so they have to be very aware to set business level
strategy as there is huge competition in the industry. Shajgoj limited can follow some business
level strategy that describes the following.

Broad Low Cost Strategy: Low-cost strategy refers to selling products at the lowest price it
can, while still making a profit so that it can draw customers to the market. This is the broad
version of the low-cost strategy because such companies try to appeal to a broad market. As
shajgoj is a startup company they should focus on drawing customer attention first by setting up
low cost strategy. Besides, as they want to develop a new market they have to follow a low cost
strategy to get the attention of customers about Shajgoj limited and their product.

Differentiation: Differentiation is an approach that a business takes to develop a unique product

or service that customers will find better than or in another way distinctive from products or
services offered by competitors. The target customers of Shajgoj limited are girls and women as
they are selling girls beauty products. The world is changing day by day and creating new
innovation daily. So, differentiation is very important for a company to survive in the industry.
Shajgoj limited can follow differentiation strategies by coming up with new beauty products.

Focused Cost Leadership Strategy: This target market is defined by demographics. Shajgoj
limited can target rural girls and women by providing beauty products at lower price. So, they
can expand their branch in rural areas to serve the beauty products and accessories at low price in
rural areas.

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Functional Level Strategy

Customer value proposition through responsiveness: Retaining their customer instead of

acquiring them is the first priority of Shajgoj. They were authorized to seek and make them the
highest transparency level so that Shajgoj limited can easily give, receive the thoughts of their
customers. It would create a greater mutual understanding of their customers. They take many
more actions for retaining their customers and understand the true customer needs. Their
distributors always connect with the customer and try to find out how they will create a better
relationship by serving their product at any time in any place. Most of the cases Shajgoj have
upgraded it through the bias-free action and open-minded thoughts gaining.

Research & Development: There is a huge competition among e-commerce companies in

Bangladesh. Besides, Shajgoj limited is a startup company so to survive in the industry they
should follow a strong strategy. One of the functional level strategies Shajgoj can follow is focus
more in research and development. Shajgoj limited has imported a lot of different types of beauty
products but every product is not sold or can’t highlight in the market. So, they can improve
efficiency in the research & development department so that they can test the feasibility of
concept before importing full-scale prototypes. Market research is one of the important tasks to
work business model efficiently. Shajgoj limited can research about customer taste, demanding
product, and product authenticity during imported. As there are huge chemicals in beauty
products, so Shajgoj should research these products about whether it is good or bad for skin. If
they make sure of a suitable beauty product then they will be able to draw the customers
attention.

Human Resources: Human resource is the most important element of a company. Human
resources have a huge contribution to the work business model perfectly. Shajgoj can increase
efficiency in human resources like reduce hiring and training expense by minimizing employee
turnover. As Shajgoj is a startup company, high employee turnover can’t be good for business
models. Besides, they can increase the quality of existing employees by providing extensive
training to decrease employee error.

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Product innovation: The world is changing day by day so to survive in the market innovation of
product is essential nowadays. Shajgoj has increased their commercialization by building a
strong relationship towards their existing customers. Therefore, they can achieve their mission
statement and also enhance this site stronger. They were very sensitive at the time of new
innovation. They provide sample products for feedback and make the final products according to
customer demand. As a result, they can reduce their innovation failure for making the best
product in the market. Besides, Shajgoj thinks about their customers by facilitating newer things
in the market.

Enhancing core categories: Shajgoj is currently targeted only female or girls. So, Shajgoj can
improve their core categories by adding men’s beauty section in their core categories of business.
So they can also target men’s to enhance core categories. Men are also very aware about their
skin so Shajgoj can take this opportunity by targeting them.

Technology strategy

Technology strategy is the overall plan which consists of objectives, principles and tactics
relating to use of technologies within a particular organization. The world is changing day by day
and everything is becoming online based. So every company should follow proper technology
strategy to competition in the industry. Shajgoj limited is one of the leading ecommerce
companies in Bangladesh. There are huge competitions in the industry so Shajgoj also should set
up proper technology strategy to survive in the market.

First Mover Advantage: The company that first develops a product is a first mover. As the
world is changing day by day and everything is becoming online based so to survive in the
market a company must become first mover. There are many ecommerce companies in
Bangladesh and huge competition among them. Shajgoj limited should become the first mover to
survive in the market why not there is a high possibility of entering a new competitor in the
market. Shajgoj is currently selling girls beauty products like makeup, skin care products, hair
care products etc. But Shajgoj has to come up with new product ideas to compete in the market.

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Shajgoj can offer customized products which are unique in Bangladesh. As Shajgoj is offering
beauty products currently so they can develop customized products which will be suitable for
consumers' skin at the same time, customers will be able to take products whatever they want.

Implementation of strategic plan

Corporate governance
Governance mechanisms are set by the principal to ensure that the agents work in the best
interest of the principals. Corporate governance reduces the possibility of conflict of interest
between stakeholders. As the company is not a big organization, the hierarchy of the
management is less complex and bureaucratic. Less barrier to communicate with the top
managers enables a work-friendly environment.
As mentioned in the recommendation part that ‘Stock-Based Compensation’ is going to help
Shajgoj to generate more funds for them, it will also help Shajgoj to reduce the agency problem.
Agency problems arise when the employees want to work only for their own betterment which
can also lead them to do any misconduct to achieve their goal. Stock based compensation will
also work as self motivation as the employees will feel that they are working for their own
company, rather than working for others. And eventually increase the performance of the
managers and create a positive working environment.
By appointing an Internal Audit team can be a good control over Shajgoj’s financial position.
They monitor the business process and also can suggest how Shajgoj can do things more
optimistically. They will advise on the asset turnover issue of the company. Internal audit team
will be under the supervision of the CFO of the company.
Earlier said that shajgoj want the cost leadership, in order to achieve that they should focus more
on the process development and continuous research and development on how they can reduce
the cost structure rather than focusing on the product.

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Strategic control system

Control systems are to motivating the employees by incentives to achieve their goals. From the
SWOT analysis we got to know that improper control is Shajgoj’s one weakness. It is stated that
they also lack in evaluation of the employee's work.
There are 3 steps to control effectively:
1. Set target: there will be a target set by the higher authority to subordinates for a certain
period. It is proved that when an employee's job is well defined to him/her and knows
who is to report, their productivity automatically increases.
2. Evaluate: poor evaluation is one constraint for Shajgoj. There will be a standard to
measure the work of every employees which will be helpful for the managers to evaluate
the performance properly.
3. Bonus/appraisal: if an employee gets proper appraisal for their work, they feel
motivated and inspire to deliver better performances. They do provide their employees
bonuses

As it is an online selling platform, the strategic control should be output based. They need to be
more conscious about the customer responsiveness and behavior control of the employees to be
more differentiated among the competitors.

Company culture
Every company has their own distinctive norms, values and beliefs. Shajgoj maintains a good
culture for their employees. Some of them are mentioned below:
 They treat all employees as equal.
 Everybody celebrates together when meet especial targets like increasing sell.
 Welcome creativity of the employees and inspire them.
 Provide reward for maintaining honesty like time maintaining.
 The top management is not concern about dress code they mainly focused on work ability
and provide value their work.

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Global Strategy

As Shajgoj limited is a small company and new in the industry so Shajgoj should not expand its
business across the country. Although it is growing and developing day by day so in future it will
be able to expand its business across the country. So if it wants to expand or follow global
strategy then it should follow transnational strategy.

Ethical value proposition

Shajgoj limited is an e-commerce company in Bangladesh. There are many employees working
here. Ethics is one of the main issues to success in the business. Business ethics is the study of
appropriate business policies and practices regarding potentially controversial subjects including
corporate governance, insider trading, bribery, discrimination, corporate social responsibility,
and fiduciary responsibilities. As Shajgoj is a startup company so to develop it’s business top
management should judgment fairly. Top management of Shajgoj can be open minded to
positive and negative feedback. Another ethical value proposition Shajgoj can follow which is
maintaining make sure authentic product. Although Shajgoj is providing authentic products
already but it should sustain for a long time.

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Conclusion

Shajgoj limited a startup company, operating in the market for almost 6 years. In this report, we
identified the history, development and growth of Shajgoj. Identified the Internal Environment of
Shajgoj where we analyzed the internal resources and capabilities. After that, we did Industry
analysis, Macro environment analysis under which we did SWOT, identified company’s
distinctive competencies, company’s financial performance and company’s business model. As a
new company we found some lacking’s in Shajgoj. To overcome those problems we gave them
some recommendations. According to our recommendations we made new corporate, business,
functional and technology strategy. Then finally, we made a proper strategic plan to implement
them. We personally talked with Shajgoj and discussed about our overall strategic management.
They appreciated it and agreed to implement those in coming years. Shajgoj has potential and we
hope that it will grow and sustain in the market for long term.

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