Financial Management Indicators to Aid Decision Making (Statistics)

Journal of Financial Management & Analysis, January-June 2014 | Go to article overview

Financial Management Indicators to Aid Decision Making (Statistics)


monitored by

Om Sai Ram Centre for Financial Management Research

Mumbai, INDIA

HIGHLIGHTS

Commercial floriculture has emerged as one of the most profitable, important and innovative ventures in Bangladesh. Agro-climatic conditions of the country are suitable for growing a variety of flowers all the year round. The country has gained experience in commercial flower production for about 15 years. Production pattern of flowers could be grouped into two : some are cultivated for sale as cut flowers while others are mainly for display purposes. Different varieties of cut flowers are sold in Dhaka city of which the most common are rose, tuberose, gladiolus, marigold and B. H. Success of commercial floriculture depends largely on well-developed marketing system as flowers are perishable products which require careful handling and quick marketing. In the international flower market, the largest supplier (59 per cent) of flowers is Netherlands whose supremacy in market depends on its sophisticated distribution system.

But in Bangladesh both the production and marketing of flowers arc developing by the private initiative without any planned way. A modest attempt has been made to study the marketing of flowers in Dhaka city. The specific objectives of the study are as follows:

* To examine the flower marketing system.

* To estimate the marketing cost and margin of the flower traders.

The study is based on primary data collected from randomly selected 30 flowers shops (64 per cent) out of 47 permanent shops in Dhaka city to examine the marketing system, cost, margin existing trader's problems and suggestions for their development improvement.

Dhaka city was selected as the study area because its is the largest and main flower market place in Bangladesh. About 78 flower shops were found in Dhaka City of which 47 were permanent and 31 were floating on pavement. Sixty-four per cent (30) of the total permanent flower shops were randomly selected for this study. On the basis of volume of flowers transaction the selected shops were categorized as large (12), medium (11) and small (7) shops. The average number of flowers transacted per month by the large, medium and small shops were 104514, 47224 and 18283 respectively. Data were collected during the months of February and March, 1995.

Marketing System, Cost and Margin

Marketing system is analysed by considering three important components of the system. The components are marketing channels, market participants or middlemen and the marketing functions : Figure 1 shows the distribution channels of flowers with reference to Dhaka market. Apart from farmer-producers a number of intermediaries are involved in the marketing of flowers. They are Beparis, Sarder (labour leader), retailer-cum-wholesaler and retailer. Labour Sarder plays an important role in the distribution system only for those flowers which come from Jessore area. So Sarder is not shown in the marketing channels.

Market participants : A brief description of the participants involved in flower marketing is presented below.

Farmers: Generally flower growers sell flowers to the Beparis at the field. Sometimes they sell to flower shops in Dhaka city. A small portion of total production is sold to local users.

Beparis : Beparis are professional traders who purchase flowers from farmers and use to sell to the flower traders in Dhaka City.

Sarder : Labour Sarder acts as distributor who receives the consignment of flowers at the college gate of Dhaka college which is sent by the farmers and farmer cum Bepari from Jessore area. Sarder's responsibility is to distribute the flower bundles according to direction of the senders.

Retailer-cum-Wholesaler : They are also professional traders who own permanent establishment In Dhaka city. A few of these traders do the Job of wholesaling along with retailing.

Farmer-cum-Bepari : Some of the flower growers purchase flowers from the other farmers as Bepari and used to sell all the flowers directly to the flower shops at Dhaka. …

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