mp proposal (jsil)
TRANSCRIPT
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Research Proposal:
Group Members
Ahsan-ullah BD-04/03
Akbar Aqil BD-28/05
Imran Adeel Haider BD-18/05
Imran Farooqi
Jibran Wasiq BD-21/05
Najeeb Swaleh BD-41/04
Rafay Anwar
Waseem Ahmad BD-66/2004
Course: Managerial Policy
Instructor: Dr. Mahnaz Fatima
Institute of Business Administration
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Table of Contents
TABLE OF CONTENTS ..........................................................................................................................2
JS INVESTMENTS LIMITED (RESEARCH PROPOSAL) ..............................................................................3
INTRODUCTION TO THE COMPANY..............................................................................................................3 RESEARCH PLAN ....................................................................................................................................3 TENTATIVE TABLE OF CONTENTS ................................................................................................................4 TENTATIVE STATEMENT OF MAJOR PROBLEMS ..............................................................................................5 TENTATIVE STATEMENT OF MINOR PROBLEMS ..............................................................................................5
REFERENCES ......................................................................................................................................8
APPENDIX ..........................................................................................................................................9
APPENDIX A:ORGANIZATIONAL CHART .......................................................................................................9 APPENDIX B:TENTATIVE INTERVIEW SCHEDULE........................................................................................... 10APPENDIX C:STATEMENT OF CONTRIBUTION.............................................................................................. 11
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JS Investments Limited (Research Proposal)
Introduction to the Company
JS Investments Limited (formerly JS ABAMCO Limited) was incorporated on February 22,
1995. It undertakes investment advisory and asset management services, and is active in the Investment
Finance Services, along with being a Pension Fund Manager. It is listed on Karachi Stock Exchange
(KSE) since April 19, 2007 with the symbol JSIL.
JSIL is a part of the Jahangir Siddiqui Group, one of Pakistans most diversified and prestigious
financial institutions. Its founding partners also include INVESCO PLC (which manages assets in excess
of USD 370 billion) and International Finance Corporation (IFC). Some important points to consider
about JSIL are:
First private sector asset Management Company in Pakistan. Managing the largest fund size (over PKR 35 billion). First asset Management Company with AM2+ Asset Management Intrinsic
rating by PACRA.
Research Plan
The research will be conducted over a period of approximately three months. Both secondary and
primary data sources shall be used for absolute quality.
To evaluate the financial performance of JSIL and to perform competitive analysis, we will
mostly be looking into secondary data. These include the accounts of the company and its major
competitors
1
, websites of JSIL
2
, its major competitors and the MUFAB
3
, Asset Management Industry
reports published by the MUFAB and various asset management firms and other relevant data sources.
1http://www.mufap.com.pk/Members%20Address.htm
2http://www.jsil.com
http://www.mufap.com.pk/Members%20Address.htmhttp://www.mufap.com.pk/Members%20Address.htmhttp://www.mufap.com.pk/Members%20Address.htmhttp://www.jsil.com/http://www.jsil.com/http://www.jsil.com/http://www.jsil.com/http://www.mufap.com.pk/Members%20Address.htm -
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For a functional analysis of JSIL, we will meet the heads of the various business units and a few
middle management personnel. The agenda would be emailed to the interviewee prior to the meetings in
the form of a questionnaire. A tentative interview schedule for the remaining meetings has been prepared
and is attached in Appendix.
On the basis of the data gathered, we will perform a financial analysis of JSIL, an external and
internal environmental analysis and identify major and minor problems facing JSIL. We will then
determine strategic alternatives and recommend one strategy which we feel JSIL should adopt to tackle its
problems. These contents will be part of a Progress Report which will be submitted on March 8, 2008.
Based on the Progress Report and the feedback received on it, a Live Case will be submitted on April 25,
2008.
Tentative Table of Contents
Introduction History The External Environment
- Economic- Social, Cultural, Demographic & Environmental Factors- Technological Environment- Regulatory, Legal & Political Environment- Asset Management Industry in Pakistan- Global Asset Management & Investment Finance Challenges
Functional Analysis- Investments- Finance
3http://www.mufap.com.pk
http://www.mufap.com.pk/http://www.mufap.com.pk/http://www.mufap.com.pk/http://www.mufap.com.pk/ -
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- Research- Compliance & Risk Management.- Marketing & IR4 Function.- Business Planning & Development.- Operations- Human Resource Management- Information Technology- Sales- IFS invest financial services
Tentative Statement of Major Problems
Although there is a vague direction that JSIL has to be the largest asset management company of
Pakistan, there are no clear vision and mission statements. This leads to the bigger problem that there is
no strategic direction of the company. This is because the asset management business has its roots in
brokerage business, which is not managed strategically by the owners: saeths5 Thus there is no shared
vision or set directions of the organization.
Tentative Statement of Minor Problems
From the information collected so far, the following have been tentatively explored as the minor
problems.
1- Lack of knowledge on mutual funds: In Pakistan, people do not know what mutual fundsare. They only know that they can invest their savings with banks, who give meager returns.
2- Company awareness: People recognize ABAMCO, but not JS Investments.
4Investor Relations
5Pakistani Business Jargon which signifies a mindset of typical business entrepreneurs who are reluctant to adopt
the best business practices commonly believed and implemented worldwide.
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3- Inefficient system at Call Center & Customer Relationship Management: There is nosystem in place to inform of the number of calls a customer made, nature of problems reported,
resolution, and the individual of Operations to whom the request was forwarded. It lacks such analytics,
which could help marketing department in segmenting customers. Thus useful information is being lost,
using which the organization can do a lot.
4- Lack of co-ordination between Marketing & IR: IR is not updated with new campaignsand information that Marketing makes. Thus if a customer calls IR, the IR representative would not be in
a position to satisfactorily answer the queries about new products. Such products are usually what
Marketing dept. would have already sent to press for advertising.
5- Weak sales follow-up system: There is no way to track and follow-up on sales leads thatIR receives. Customers have to wait for days.
6- There are no departmental budgets that could be monitored. There is no system to trackthe expenses and profitability of a campaign.
7- Employee turnover: There is so much competition in the market that people are beingpicked away. In two years, they have had three teams of marketing.
8- Few Distribution channels: There are not many distribution channels. JSILs funds aresold at the branches of Citibank, ABN AMRO and Standard Chartered Bank. But these banks do not
project JSIL funds very much. There are no flags or marketing material for the customers to know and ask
for it. The reason is that there is that banks do not want their customers to withdraw money from them
and invest with someone else. They want to earn on the spread and give away very little to the customers.
9- Internal marketing is missing: There is no realization yet that the business has to changeits way of doing business, and Marketing has to have a say in how the company functions. If that doesnt
happen, customers could be driven elsewhere and JSIL will lose.
10- Internal brand awareness: People within the organization are not aware fully of theproducts that JSIL offers to its customers.
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11- Lack of creativity/old-style approach: The marketing of mutual funds is growing veryfast. Customers are expecting more from the asset management companies. They are also beginning to
realize the importance of brands. Since JSIL is not an established brand yet, people do not have affinity
for it. On the other hand, the mindset of the people at JSIL is to focus on corporate and high net-worth
individuals. In such a fast pace market, JSIL can lose a lot if it doesnt rid itself of this approach.
12- Workflow and Procedural Hassles/ Loopholes: There is no system to facilitate the processof creating a campaign, its approval from the higher authorities and later by Finance dept. which causes a
lot of delay.
13- Lack of wide-scale Accounting System: There is no cost accounting system that couldtell the Profit and Loss of a campaign. Furthermore, there is no inventory management system of the
marketing collaterals.
14- Automation (external): JSILs processes are highly automated and proper checks andbalances are in place but problem arises when they do not get the required information on time in order to
perform their work and this is mainly due to lack of automation at our stakeholders part.
15- Product development: With the passage of time requirements changes and JSIL has tokeep pace with the change of process, system and procedures accordingly.
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References
JS Investment official website: http://www.jsil.com accessed on 10th
January 2008
Mutual Fund Association of Pakistan; http://www.mufap.com.pkaccessed on 27th
January 2008
http://www.jsil.com/http://www.mufap.com.pk/http://www.mufap.com.pk/http://www.jsil.com/ -
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Appendix
Appendix A: Organizational Chart
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Appendix B: Tentative Interview Schedule
# Name Position Phone Date and Time Address
1 Surraiya Hasan Head of Human Resources 111-222-626 28-Jan-08 05:40 PM JSIL Head Office, 7th Floor, The
Forum, Block 9, Clifton, Karachi.
(Phone)
2 Bilal Rashid Senior Manager,
Marketing and Investor
Relations
111-222-626 29-Jan-08 12:00 PM JSIL Head Office, 7th
Floor, The
Forum, Block 9, Clifton, Karachi.
3 Surraiya Hasan Head of Human Resources 111-222-626 02-Feb-08 02:00 PM JSIL Head Office
4 Zafar Iqbal Head of Operations 111-222-626 07-Feb-08 03:00 PM JSIL Head Office
5 Munawar Alam Siddiqui Chairman 111-222-626 JSIL Head Office
5 Bilal Rashid Senior Manager,
Marketing and IR
111-222-626 07-Feb-08 03:00 PM JSIL Head Office, 7th Floor, The
Forum, Block 9, Clifton, Karachi.
6 Manager Compliance and
Risk
Manager Compliance and
Risk
111-222-626 07-Feb-08 03:30 PM JSIL Head Office
7 Manager Investments Manager Investments 111-222-626 14-Feb-08 03:00 PM JSIL Head Office
8 Manager Business
Planning and Development
Manager Business
Planning and Development
111-222-626 19-Feb-08 11:00 AM JSIL Head Office
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Appendix C: Statement of Contribution
Name: Najeeb Swaleh
Contribution:
Identified alternate organization (Siemens Pakistan) and spoke to relevant people in the organization. Participated in group meetings and task assignments Contributed towards finalizing the research proposal.
Signature:
Name: Waseem Ahmad
Contribution:
Was part of the initial group discussions regarding the identification of the organization and then itsmajor and minor problems.
Researched on the external environment the asset management companies are working in. Worked with the team on preparing the research proposal.
Signature:
Name: Akbar Aqil
Contribution:
Visited the Organization and accessed Mr. Bilal for the interview with the team available. Gathered data on research on the asset management companies already done by Al-Falah Securities
Private Limited for analyzing.
Was part of the initial discussions with JSIL personnel and discussed about the issues and addressJSIL's concerns about the project.
Worked with the team on preparing the research proposal.
Signature:
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Name: Imran Adeel Haider
Contribution:
Identified the organization and accessed the relevant contact person. Conducted research on the asset management companies and the problems they are facing. Held initial discussions with JSIL personnel to iron out the issues and address JSIL's concerns about
the project.
Conducted initial interview with Ms. Surraiya Hasan (Head of HR). Facilitated groups meetings and task assignments. Coordinated the interview with Mr. Bilal Rashid and took notes. Worked with the team on preparing the research proposal.
Signature:
Name: Raafay Anwar
Contribution:
Formulated the tentative table of content needed for the proposal Contributed towards brainstorming of the minor issues concerning JSIL
Signature:
Name: Imran Farooqi
Contribution:
Participated in the brainstorming session at the start of the project Contributed minor points in the collaborative project document
Signature:
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Name: Jibran Wasiq Syed
Contribution:
Participated in the brainstorming session at the start of the project which decided the direction andscope of the project.
Participated in all the meetings sessions regarding the project. Participated in the interview with Mr. Bilal Rashid and took notes. Provided collaborative document sharing facilities which enabled all group members to work
concurrently on a single project document via the Internet.
Made the Research plan, Introduction and final formatting of the proposal.
Signature:
Name: Ahsan-ullah
Contribution:
Participated in the group meetings and brain-storming sessions Helped identify the project issues and proposal development.
Signature: