Business
F-commerce in Bangladesh: Problems and Prospects
Bangladesh has increased a surge in digitization in every sphere. The increased connectivity has made access to smartphones and the internet more affordable and easier than ever. This has paved the path for different social media engagements like Facebook. The connected nature combined with a robust user base has given rise to the F-commerce ecosystem. So, where does Bangladesh stack up in the F-commerce scenario? What are the problems and prospects? We take a deeper look at this article.
What is F-commerce?
F-commerce is the short form of Facebook commerce. Globally there are 2.85 billion active Facebook users. That accounts for around one-third of the total population of the world. Almost a billion of them are regular users who log in at least twice every week. The increased user base has prompted the use of the platform as a business space which soon transitioned into small to medium scale businesses.
There are about 46 million active Facebook users in Bangladesh. The high user base has promptly encouraged small businesses to take up the platform as a marketplace. There are about 2000 dedicated eCommerce platforms in Bangladesh whereas there are over 300000 F-commerce pages doing business.
Read Potential of e-commerce hemmed in by bottlenecks
Due to lack of regulation, a large portion of the business goes unaccounted for. However, out of a total of 7000 crores BDT worth of eCommerce sales, F-commerce accounted for over 1000 crore BDT in sales. This is a testament that Bangladesh is slowly making the transition to the F-commerce revolution.
Problems facing F-commerce in Bangladesh
A high tariff on import
Most of the F-commerce platforms in Bangladesh are import-based resellers. Most of the products are sold on a pre-order basis or niche customer base. As a retail importer, they face high import tariffs which are driving the cost up at the customer level. This price is not regulated at all and different vendors sell the same product at a different price which is a detriment for the customer.
Logistics
Another prime problem facing F-commerce is the lack of logistical support. Unlike the large eCommerce platforms of Bangladesh, the F-commerce businesses don’t have a dedicated shipping mechanism. As a result, they are forced to rely on local couriers and delivery partners. The third-party shipping method further drives up the cost in the customer end in the form of delivery charges.
Read 8 Mistakes to Avoid in a New Ecommerce Startup in Bangladesh in 2021
No legal framework
There is no legal framework to regulate the F-commerce sites. There are over 300000 Bangladeshi pages on Facebook alone doing business in various niches. The different regulations and permission required to set up a business don’t apply as there is no regulatory authority overseeing the entire process. As a result, there is no limitation to price competency, product regulation, and customer end experience.
Lost revenue
The government is losing a huge amount of revenue in the form of tax from the F-commerce platform. With the absence of regulatory bodies, there isn’t even an appropriate estimation of the number of operating F-commerce pages. These pages are doing business of over 300 crores. The pandemic caused a paradigm shift in business conduction as more and more people are getting inclined to online shopping. There has been a reported increment of over 70% to 80% increment in sales across the board. However, the government doesn’t receive any form of GST or sales tax from these pages.
Read The SWAP story of Bangladesh's first reCommerce startup
Job Circular on Rupayan Group
Rupayan Group is hiring the following position. It is one of the leading group of company in Bangladesh Established in 1989.Making Innovative strategy and giving dedication to the work by the skilled employees, that is the main concept how Rupayan group keeping our business in a sustainable position.
Position Name :Dy. Manager/ Manager - Sales (Rupayan City Uttara)
Vacancy: Not specific
Job Responsibilities
To achieve monthly and yearly sales targets.
To visit prospective customers regularly.
To ensure optimum utilization of promotional materials.
To maintain relationships with the existing customers.
To submit various reports to the line manager.
Employment Status
Full-time
Educational Requirements
Bachelor degree in any discipline
Masters / MBA is preferred.
Skills Required: Analytical Skills, Decision making, Problem Solving, Sales & Marketing, Strong Convincing Negotiation Skills
Experience Requirements
At least 10 year(s)
The applicants should have experience in the following area(s):Real Estate product, Real Estate Sales
The applicants should have experience in the following business area(s):Developer, Group of Companies, Real Estate
Additional Requirements
Age 28 to 40 years
Only males are allowed to apply
Salary
Negotiable
Compensation & Other Benefits
Mobile bill, Tour allowance, Performance bonus, Provident fund
Lunch Facilities: Partially Subsidize
Salary Review: Yearly
Festival Bonus: 2
Application Deadline: 13 Sep 2021
For More Info and Apply Link :https://jobs.bdjobs.com/jobdetails.asp?id=982805&fcatId=9&ln=1
Job Source
Bdjobs.com Online Job Posting.
Read Job in Akij Group
Also Read: Citizen Group is hiring
ToguMogu: One Stop Solution for Bangladeshi Parents
When it comes to raising a child, worrying about parenting is inevitable. Should the newborn be tied to the chest with a cloth? What are the things to be aware of while breastfeeding? Which products are perfect for your baby? Doctors, older family members, friends, books, and the internet have a wide range of popular and modern advice about that stuff. Some advice may match with one another; sometimes, some parents may even get completely contradictory advice on the same subject. And, parents often have to be in a dilemma due to that confusion. Anika and Maruf, the founders of ToguMogu, had to face this kind of trouble when their first baby was born in 2016. To bring out the solution for new parents, they started ToguMogu.
What is ToguMogu?
ToguMogu.com is the first online platform in Bangladesh where you will get children's products as well as various parenting-related services.
It is mainly a service and product platform that offers a wide range of support for expecting, new, and young Bangladeshi parents who have children from 0-5 years old. The services include baby products, connecting with the doctors, capturing the memories with your baby, get education about parenting, counseling, and more. ToguMogu ensures healthier, happier mothers and kids. It works as a one-stop solution that brings all kinds of help and support for a new parent.
Read: Dangerous Android Apps That Can Steal Your Information
How did it all start?
Anika Rahman and Maruf, one of the co-founders of ToguMogu, had their first child born in 2016; they realize the obstacles to raising a child and think about how to reduce the costs for all new parents in society. So, without delay, Anika started the online platform ToguMogu.com.
After graduating from East-West University, Anika Rahman Mou, the chairman of the organization worked for Asia Tech, a well-known company in the country, for some time, and after retiring from her job, she concentrated on her family. Besides, she established ToguMogu with the aim of doing something good for society.
Next year, they thought of providing a technology-enabled solution for young parents all over Bangladesh. Initially, they were looking for a name that would make people curious and make them smile at the same time. Hence, selected ToguMogu, which was derived from "Togu, a tiger cub, and Mogu, a human child."
Read Avoy App for the Safety of Girls: A Splendid Step to Build a Secure Bangladesh
In the beginning, they spent enough time to understand the needs and the pain point of the new parent, their target customer. Additionally, they also conducted some research on how parenting works in Bangladesh and how to combine technology with parenting.
In the beginning, ToguMogu was a content platform that provided authentic information. Later they gradually introduced other services such as e-commerce shops, doctor booking, caregiving, and photography one by one. Now they have a fully functional app for the smartphone in which parents can track the growth of their children while accessing other features.
Read Top 5 Mobile Apps for Farmers in Bangladesh
ToguMogu Features and Services
With ToguMogu, parents will have a 5-year long journey starting from the pregnancy period. During this time, ToguMogu will be there as a constant wellbeing partner though offering different services to make the parenting journey easier. Currently, they offer five different services. Read on to know the list of the services.
ToguMogu E-Shop
The e-shop provides expert-recommended products for newborns and makes life easier for new parents. The products are available for babies up to 5-year-old. Then they have a wide range of products which include food and nutrition, children's books, baby products, brand toys, learning toys, crafts and drawing items, and school stationery. Parents can choose from a variety of options from numerous brands while searching for products on the e-shop. They also started selling corona safety products for children and adults.
Read Top Job Searching apps in Bangladesh
Baby Pixels by ToguMogu
It is special concept-based photography for the baby and pregnant moms to keep the memories. ToguMogu offers different services for photography which include, pregnancy sessions, newborn sessions, baby & toddlers, birthday and outdoor sessions. Pregnancy sessions photography starts from Tk. 5,990, while the newborn photography starts from Tk. 8,990. Other types of photography also have the more or less same price range as the former.
Education Contents
ToguMogu has numerous articles on various aspects of pregnancy, parenting, birth, and early childhood developments. Expecting parents and new parents can get self-education from those contents and make themselves ready for the upcoming days. Besides, Bangla books and e-books on parenting are also available.
Read: Dating changed during the pandemic; apps are following suit
Parenting Services
Under the parenting service, ToguMogu offers parent and children counseling through Lifespring, which is a "leading professional child psychology and mental wellbeing service provider in Bangladesh." Further, you will also get the consultation service from the child specialist via Doctorola, a healthcare service provider. If you need nanny service, you can contact Amar Astha Ltd. through ToguMogu. Furthermore, parents can take parenting courses, and a child's creative courses are also available to develop your children's creativity.
Day Care & Pre-School
Parents will find a recommendation on daycare and pre-school or after-school services available around Bangladesh. This service will provide a list of the best suitable daycare based on the requirements and the performances. So, daycare and pre-school recommendations will be a great help for working parents.
Read Top health apps for online doctor consultation services in Bangladesh
Challenges ToguMogu Faced
All the co-founders have invested from their personal funds to set up the venture. So, ToguMogu has seen slow growth, which they are trying to cover up in recent days by seeking external investments.
Initially, they struggled with the deliveries in 2017-18 as they did not have a mature logistics service. Occasionally, co-founders had to work on deliveries initially. Since the co-founders left their job to create a trusted platform and they were new in the business world, they thrive to improve the service. So, they had to make a continuous investment from their own fund. And until 2020, they did not even think of raising the external fund. So, they have seen steady growth.
ToguMogu started pitching about their venture in 2020 and managed to raise an angel round of investment in late 2020. ToguMogu now aims to solve all kinds of problems of all parents, mothers, and children in the country through the platform.
Read Best Food Delivery Apps in Bangladesh in 2021
Key Challenges to Start E-Commerce Business in Bangladesh
Bangladesh has made significant development on the path of digitalization in recent years. However, the internet penetration rate is still low compared to the developed countries. As a result, in Bangladesh, an eCommerce business faces a lot of challenges even before its inception. In addition to internet access, other bureaucratic and resource-related challenges are a constant headache for many eCommerce startups. Let's take a deeper look at them.
The state of eCommerce in Bangladesh
Up until 2006, the state of eCommerce in Bangladesh was almost non-existent. The handful of eCommerce sites were exclusively used by the upper-class people with businesses being strictly niche-based. With rapid digitization, the number of eCommerce sites saw a rapid jump of over 70% in 2007, and the growth trajectory has been upward ever since.
At present, there are about 2000 independent eCommerce sites in the country with another 50000 being F-commerce based. Combinedly they are delivering over 30000 products every day. However, the majority of the transaction is limited to Dhaka, Chittagong, and Gazipur only.
The limitation is seen in the transactional aspect as well. There are about 5 million debit cards and 1 million credit cards in circulation. Out of these only, 1% of the people use them for POS transactions. Rest is limited to ATM usage only. This prompts the issue of lack of online transactions, which is one of the key pillars of the eCommerce ecosystem.
Read:Product Shipping: Tips to find the perfect delivery partner for online business
Key challenges of eCommerce platforms in Bangladesh
Product Sourcing
Leading international e-commerce platforms like Amazon, eBay, and Rakuten are not available in Bangladesh. Therefore, there is the challenge of product sourcing.
Depending on the customer choice, many eCommerce platforms resort to sourcing products through imports. The entire process and customs together increase the price of the product significantly. As a result, there is a lack of demand in the first place.
Local dropshipping can be a good option in this regard. However, maintaining product quality and brand reputation becomes a significant challenge with dropshipping.
Read:Common Challenges faced by Startups in 2021
Finding the right customer base
The first and foremost issue faced by any eCommerce startup is choosing the niche. It is almost impossible to incorporate everything under a single domain unless you are one of the big players.
That being said, there is also a lack of market data. What kind of product are customers interested to buy online? What products sell more? And which niche has the largest online transacting customer base? All of these essential data aren’t readily available.
While on average, people under 30 prefer to shop online, that also presents the unique challenge of tailoring the product to their needs. Categorizing a customer base while the majority of the country is interested in offline shopping is a key challenge.
Read:Seed Fund Raising for Startups: Things to Know About
Low conversion rate
One of the positive aspects of eCommerce is that there is no geographical boundary to your customer base. Anybody from anywhere can view your products and if you have an international shipping option can even become a customer.
On average a successful eCommerce looks at about 1% to 2% conversion rate of the total hits on a product. However, it's not even 0.2% in the case of Bangladesh.
The dire situation can be attributed to a lack of potential lead generation and poor conversion measures. While the local target market itself is small, there is also a general disinterest in buying products online. As a result, eCommerce sites are failing to generate and convert leads.
Stakeholders want coordinated policy, regulations to foster e-commerce in Bangladesh
Transparent automation, easy regulations, access to finance, inter-ministerial coordination, easy tax structure, cross border digital commerce trade facilitation are key to foster e-commerce in Bangladesh, stakeholders said at a discussion on Saturday.
The discussion titled “Building a Sustainable Ecosystem for E-commerce” was organized by Dhaka Chamber of Commerce & Industry (DCCI). Commerce Secretary Tapan Kanti Ghosh joined the discussion as the chief guest.
DCCI President Rizwan Rahman said the e-commerce ecosystem saw a massive vibe in recent past.
Also read: Muted response to e-commerce SOP reflects recent troubles in the industry
"Despite we have seen some challenges the sector is facing recently, but with the intervention of the government, regulators and stakeholders a sustainable development will come in the sector," he said.
According to an estimated data, in 2020 transaction in the e-commerce business was about USD2 billion, which may increase up to USD2.5 billion in the current year.
In 2020 transaction in only f-commerce sector was about 320 crore taka.
He also said that 15% VAT imposed on e-commerce sector may hamper the growth of small investors in this sector. Moreover if international market leaders like Amazon comes in our market, it may create opportunity for local CMSME traders and manufacturers, he said.
Commerce Secretary Tapan Kanti Ghosh said private sector is playing the dominant role in the economy.
Also read: Digital Commerce Policy, Lockdown, Eid: Perfect storm for e-commerce?
In the e-commerce, reliability is the key issue to help this sector to grow, he said.
"Government does not want to impose strong regulations upon the sector so that small entrepreneurs can come on board easily. Recently the Escrow system to see the compliance has been introduced but the number of transactions fell down."
He suggested for a coordinated platform to overview the compliance and said that government is working hard to create a congenial regulatory atmosphere for e-commerce business.
Barrister K. M. Tanjib-ul-Alam, Head of the Chamber, Tanjib Alam and Associates also underscored importance of reliability for a sustainable market.
He urged for a proper policy and guidelines with a scope of reward and punishment.
"Government should come forward to safeguard the ecosystem, he added. Government should upgrade the national postal system so that ecommerce platform can utilize this trusted system," he said.
Fahim Ahmed, President, Pathao said policy and regulatory guidelines are needed for a sustainable ecosystem.
"Unsuccessful ecommerce platforms with a huge liability and discounting method cannot sustain in the market as it is not economically viable. Based on short term investment and huge discount-giving model may create a bad name to the industries. For creating infrastructure, technological assistance and to create confidence of consumers long term investment is needed," he said.
Khorshed Anwar, Deputy Managing Director, Eastern Bank Limited said small e-commerce, start-ups or f-commerce entrepreneurs are sometimes deprived of access to finance due to lack of documentation. We are working on the issue and do training programmes for the small start-ups.
Khondoker Tasfin Alam, Chief Operating Officer, Daraz Bangladesh said excessive discounting model is not sustainable.
Customer readiness as well as seller’s readiness is equally important. Sometimes wrong model can become famous for the time being but it is not sustainable but will hamper the ecosystem.
He also said that Daraz Bangladesh has already invested BDT 500 crore in last two years in logistic infrastructure. He lastly emphasized on improving products quality for sustainability.
Ashish Chakraborty, Chief Information Officer, Nagad said Mobile Financial service plays a vital role in ecommerce.
Customers from rural area can get products from anywhere in the country using mobile wallet. Bangladesh Bank now allows small investors having NID to be on board which is a good move, he said.
For the growth, he emphasized on full automation of this sector and this system will ensure service delivery information.
Muhammed Abdul Wahed Tomal, General Secretary, e-CAB said that the ecommerce sector in Bangladesh has got a tremendous growth right at this moment which was supposed to come in 2030.
"The growth momentum came at a faster rate due to Covid, he informed. E-commerce is an integrated sector where agencies like Bangladesh Bank, NBR, LGRD, Commerce Ministry, ICT Division all are involved. Regarding Escrow service he suggested to make it more automated and easy functioning."
Khairul Majid Mahmud, Director, DCCI, Sameer Sattar, former Director, DCCI and Riyadh Hossain, former Vice President, DCCI also spoke on the occasion. DCCI Senior Vice President N.K.A. Mobin, FCS, FCA gave vote of thanks.
Product Shipping: Tips to find the perfect delivery partner for online business
Online businesses like eCommerce and F-commerce have been on the rise for quite some time now. Customers get access to all sorts of products from different eCommerce and F-commerce sites and services. They have become fast, reliable, and hassle-free shopping for many. While it’s all positives on the customer end, an eCommerce platform faces some critical issues to dispense the customer queries. The most notable one being product delivery service. Let's look at what you should consider before choosing a product delivery service for your eCommerce or F-commerce platform.
The necessity of a good product delivery service
Even though online shopping has been on the rise, the advent of Covid-19 has accelerated the process by manifold. Social distancing and lockdowns across the globe have shifted the interest of the customer from physical shopping to online ones. As a result, the number of eCommerce platforms has surged rapidly.
From clothes, toys, gifts to daily essentials, there seems to be a bunch of eCommerce and/or F-commerce platforms for every type of product imaginable. However, the growth of an online business needs to correspond to its service. As much as the customer is concerned about the product, there is also the expectation of fast delivery, reliable service, and an easy return policy.
READ: Common Challenges faced by Startups in 2021
All of these are related to product delivery services. An eCommerce platform needs to be careful while choosing a delivery partner as its one of the main aspects of customer service and satisfaction. Here are some of the things you should check upfront.
How to choose a delivery partner for your online business
Product and customer base
It's not easy to address this question as eCommerce and/or F-commerce platforms hardly sell one type of product. However, it's easy to understand the genre of product you are selling. It can be electronic items, perishables, food items, or fragile items. There are different service options for each of these products.
There is also the aspect of whether your client is local or foreign-based? Do you want to include an express delivery option? Many eCommerce businesses follow the drop-shipping model where products are delivered on a pre-order basis. In that case, you need o to consider the delivery service for importing as well.
READ The Emerging Logistics Tech Startups, Courier, Delivery Services in Bangladesh
Ease of Service
An eCommerce and/or F-commerce platform is grossly reliable in the delivery service to ensure total satisfying service to its customer. As a business owner, you need to check whether there is ease of communication between you and the delivery agency. This is ensured through a robust client service mechanism of the delivery service agencies. You need to also check for the frequency of product pick up as it's closely related to the product delivery time.
Areas Covered
There is no limitation to the client base when it comes to an eCommerce platform. Your customers can be local, regional, or even international. To ensure maximum client range, you can incorporate international shipping too.
For that, you need to ensure whether the delivery service has international shipping options. Even if your business is in its early stage, it's always better to stay future-proofed for any kind of scaling needs. You need to carefully check the additional price for regional shipping. The rate tends to fluctuate depending on the agents you choose. The idea should be to find a balance between cost and coverage.
READ: Seed Fund Raising for Startups: Things to Know About
Speed
This is probably the most important factor when it comes to choosing a delivery service for your business. regardless of how good a product is, a customer is always concerned about how fast the product will reach them. Before signing up with a delivery service, try and check their average delivery time and customer satisfaction rate. Depending on your budget and the time, you will find multiple choices. The target should be to choose a reliable service whose words match with their action.
Product Handling
If you look at the reviews of some eCommerce and/or F-commerce sites, there are often instances where the customer complains of product mismanagement. Some may complain about broken products, torn packaging, and sometimes shipping to the wrong address.
A good way to avoid these is to check for online reviews regarding the delivery service. Because in the end, the customer won’t care what damaged their product. It’s your reputation that’s on the line here.
READ Renowned online payment gateways in Bangladesh for domestic, international transactions
Experience in business
There’s a saying that experience begets everything. The same holds for people in the delivery service sector. The more experienced a delivery business is, the more chances the service will be on point. You can also check for their service history. If they have experience of working with a similar business like yours, it can help you in the transition to working together.
Service flexibility
Often there might arise a requirement for a product to be returned. There are instances where you might have to take a product back. The ease of transition in the process makes it hassle-free for the customer and also shows the commitment of the platform.
As a result, you need to have a delivery service that is flexible in product delivery and product return.
READ Best Sites to Sell Used Electronics in Bangladesh
Tracking capability
We already talked about how the product gets lost or damaged in the shipping process. So it's important to have a delivery service that will provide you with tracking capability. You need to be able to track the product.
Sometimes, the product might need to get shipped to a foreign country or a regional area. Sometimes it might be days before the product gets delivered. In that case, you might need to be able to update your customer about their products. The best way for that would be to check whether the delivery service provides a tracking service for the product.
Price
Lastly, you should be concerned about the price. At the end of the day, you are a business and it's always about profit maximization. The idea here is to find a balance between service quality and price. Sometimes, services will offer you a discount based on the volume of products delivered through them. Either way, you should consider several services before signing up with one.
READ: 7 Local Startups Get Tk 150m Funds from Startup Bangladesh Limited
Bottom Line
Fast and efficient delivery is one of the key requirenets for the survival of any online business. There are a lot of factors that you should consider before choosing a delivery service for your eCommerce or F-commerce business. We tried to outline the important aspects which often act as the deciding factor. We hope that our discussion will help to find the best shipping company for your online business.
Adidas to sell Reebok to ABG for $2.5 billion
German sporting-goods company Adidas Thursday announced that it had made a deal to sell Reebok to Authentic Brands Group (ABG) for $2.5 billion, roughly 15 years after acquiring the US fitness brand.
Back in February, the German company started the formal process of selling Reebok, which it acquired for roughly $3.8 billion to expand in the US.
"Adidas announced today that it has entered into a definitive agreement to sell Reebok to Authentic Brands Group for a total consideration of up to €2.1 billion, with the majority to be paid in cash at closing of the transaction and the remainder comprised of deferred and contingent consideration," the company said in a statement.
Read: Toyota retains crown as world's best-selling automaker in Jan-June
The transaction is expected to be closed in the first quarter of 2022 with most of the proceeds to be shared with Adidas' shareholders.
"Reebok has been a valued part of Adidas, and we are grateful for the contributions the brand and the team behind it has made to our company. With this change in ownership, we believe the Reebok brand will be well-positioned for long-term success," Adidas CEO Kasper Rorsted said.
Daraz introduces Seller Development Program for consumers
Daraz Bangladesh has recently introduced a ‘Seller Development Program’ to enhance the buying experience of the consumer.
The unique program introduced by Daraz focuses on strengthening the buying and selling experience for the existing customers and sellers.
Read: Daraz ropes in Hasinul as chief corporate affairs officer
With the launch of the program, the largest e-commerce platform will promote exceptional sellers while keeping the customers assured and untroubled.
Daraz through this program will ensure that sellers who are not fit for working with Daraz yet are being filtered out properly. Sellers providing top-notch quality goods and services will not be liable for the errors of the few other vendors.
Read: Realme partners with Daraz to develop online channel, sales
“Trust is a critical factor in e-commerce and it alters with every purchasing decision of the consumers. We believe that the Seller Development Program will be effective in building a healthy and sustainable relationship with the consumers accompanied by the support of brilliant sellers,” said Kamrul Hasan, Commercial Director of Seller Marketplace and Business Intelligence of Daraz Bangladesh.
Things to Consider When Choosing an Internship
Internships are a great way to familiarize yourself with a target industry. Most jobs these days require some form of experience relevant to their sector. Internships are an effective way to get this experience and hone industry-related skills. But should you jump into any internships? Or should you carefully choose based on your interest? Should it be paid or unpaid? We will answer these all in this article.
Why should you choose an internship?
Let's understand why you need an internship in the first place. The current global job market is booming with eligible candidates. There are often hundreds or more applicants for a single job. The situation is even more critical for the freshers.
Read How to improve your productivity and efficiency at Work?
While many people think that good grades are the only deciding factor in landing a prestigious job, the reality is often far from it. Employers look for skilled employees. And that’s exactly what an internship is designed to be, to train you with the necessary skills.
An internship basically gives you a competitive advantage and sets you apart from the rest. But people often make the mistake of jumping into any internship they get. If you are majoring in data science and plan to stick to your major as a career, there is no point in pursuing an internship in HR. This might look good on your CV but won't add any value whatsoever as it's not related to your sector.
Read: Best Ways to Lead Effective Team Meetings
What to consider while taking an Internship?
Now let's look at some of the other factors you should consider before choosing an internship.
Understanding your responsibilities
There are multiple job roles within the same sector. Just because you are doing an internship in line with your major doesn’t mean it will add value. Carefully read the job description before applying for an internship. In your CV, you can mention the responsibilities you carried out during the internship. So, the responsibilities need to reflect and align with your future career choices.
Paid vs Non paid
Many employers think of an internship as a training phase and often don’t include any remuneration scheme. However, you are still adding value to your employer with your regard, even if it comes in the form of training. We personally suggest you choose paid internships over non-paid ones. Because at the end of the day, you are still an employee even as an intern.
Usually, most companies pay significantly less than the industry standard owning to internship and contractual employment. However, it's still better than working without payment. check for clear outlines regarding payment or you can politely ask about it at the end of your internship interview.
Read Earn Money Online: Best ways for Students to generate income during pandemic
Location
The location also plays an important factor when it comes to choosing internships. If the company is located in a new city or country, both the scopes and challenges can be immense. There aren’t many foreign internships available in Bangladesh. However, some internships might require you to travel to remote places as part of the job responsibilities.
As a result, you should carefully consider whether the location and time spent on commuting are worth the compensation, be it monetary or experience. Due to Covid-19, many sectors are offering virtual internships. This can be a great opportunity to gain some experience from the comfort of your home.
Read: Pandemic, Remote Working & Procrastination: How to avoid procrastination when working from home?
Networking opportunities
Internships aren’t full-time jobs. They are more like an insight on how full-time jobs are and what is expected from you in your industry. Internships are a great opportunity to network with your potential employer as well. You will also get to interact with other interns who are in the relevant field as you.
Having good networking will help you advance in your professional career as well. So, it's important to check what kind of networking opportunities will you be getting from your internships. You can read more about professional networking in our comprehensive blog here.
Mentorship Opportunities
Internships are all about learning new skills. However, there are internships out there that will only pile you up with paperwork with no real skill development opportunities. You should stay clear from such internships.
Internships are meant for learning new skills relevant to your sector. As a result, you should look for internships that will give you hands-on experience and opportunities to learn beyond paperwork.
Read Leader Vs Boss: Know the Differences
Testing out your skills
Internships aren’t about learning new skills alone. They should also provide you with an opportunity to put your learning and existing skills into effect. You should be able to test out your skills and reflect on your performance. A cohesive work environment can be a great addition in this regard.
Your supervisor should be willing to let you work on your elements and oversee the performance for meaningful feedback. You should think of this as a test drive of your potential career choice. It's more like a trial-and-error run to check whether your preferred career choice is suitable for you in the long run or not.
Read What makes a Great Manager: Know the Qualities and Skills
Work on projects that matter
Even though it's an internship and your employment is for a short time, you should aim for internships that let you have a meaningful impact. There are instances where interns are subjected to the paperwork of the company. But that doesn’t add any real value to your resume and skills.
However, if you can work on definitive projects, it will not only help you hone your skills but also give you the opportunity to gather new experiences. Thus, an internship can be beneficial to your career course.
Read: Earn Money Online: Best ways for Students to generate income during pandemic
Bottom Line
Internships can be effective ways to grab employment opportunities in the fast-tracked corporate world. Many companies don’t have the adequate means to train fresh graduates. As a result, it becomes easier for them if they hire candidates with internship experience. It also gives the candidate clear ideas about real-life work experience. However, there are a lot of aspects to consider before taking up an internship. We hope this article will help you in that regard.
Best Ways to Lead Effective Team Meetings
Meetings can be a boring ordeal. Most of the time, it’s about going through the same stuff over and over again. Other times, it’s a boring repertoire without any real input. Meetings are supposed to be an effective outtake on the current happenings and plan of action of any business or office works. However, boring conductions and procedures will do nothing but hinder the effectiveness of the meeting. So how can you lead effective team meetings? Let's look at some of the ways.
Why is it important to lead effective team meetings?
Nearly every industry works in a clustering mechanism. This means that you will have a team that will be responsible for certain aspects of the organization. Leading a team comes with its own set of responsibilities. You have to delegate responsibilities and keep track of the progress. There is also the aspect of meeting the organizational goals.
Team meetings are a staple way to keep all these aspects in check. While it is a tool to delegate tasks and track progress, it is also a great means to communicate and create professional bonds. Moreover, it opens up new doors of insight that you might have not thought of. Leading an effective team meeting will certainly give you an upper hand on your tasks and ensure overall organizational sync.
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How to lead team meetings in an effective way?
Incorporate leadership with a positive attitude
For many CEOs, meetings are as boring as it is for their employees. They inherently go through the motion in meetings without any real interest. As a result, the effectiveness of the meeting is lost and it becomes a waste of time and effort.
However, the change should start from the top. Rather than just going through the motion, a manager can initiate productive conversations between the employees. It can start with meaningful input from all the attendees. The leadership qualities of a stakeholder should show here. Start by manifesting leadership qualities to effectively lead and manage your employees.
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Do not delegate meeting responsibilities
CEOs and managers are busy people. They might have a lot in their cup and delegate the meeting arrangements to someone else. This should not be the case. The dissociation from a set structure only hampers the natural flow of effectiveness. A meeting will yield better value if you go in knowing what you want to accomplish rather than getting achievable on the go.
Set an agenda
A meeting agenda is like a checklist. Imagine going on grocery shopping without a shopping list. Everything becomes a second guess and you inadvertently end up missing something. Going into a meeting without an agenda is a similar thing. Identifying agendas helps to better prioritize the achievable. It also helps you keep track of the meeting outcomes and ensures that every meeting has a meaningful impact on the overall organizational process.
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Involve the attendees
Team meetings are supposed to be a team activity. Yet oftentimes it becomes a one-man thing. The lead simply delivers a premade note or talk at length alone. This not only makes the entire ordeal boring for the attendees, but they also lose the sense of purpose and responsibility.