Destiny Group Economy

Finance & Banking

"Destiny Group: the effect on economy"

Mohammad Al-Amin 10 20 837

Atequr Rahman 10 20 500

Gazi Zonayet Hossain 09 30 120

Shanjida Alam 09 30 133

Farhana Habib 09 30 215

Mr. Saquib Shahriar

Senior Lecturer

School of Business

IUB

Date: 08.08.12

Table of Contents

Description Pages

Company Overview 3

Mission & Vision 4

Why Destiny & vision-2012 5

Commitments & values 6

Overview of mother company 7

Sister concerns of Destiny group 8

Importance of network marketing in the economy 9

Network marketing Benefits 9

Example of Canada 10-11

Negative effect of network marketing in economy 11-12

Destiny 2000 ltd 12-16

Destiny Multi purpose Co-operative society ltd. (DMCSL) 16-17

Destiny Tree Plantation Ltd. 17-18

Over all effects of Destiny group in economy 18-20

Conclusion 20

Bibliography 21

Company overview

Destiny-2000 Ltd. is one of the largest Direct Selling companies of the world. About 4.3 million Distributors have joined the company since its inception in December 2000. Having its corporate office in Dhaka Bangladesh, it has branches all over the country.

With the goal to create self-employment opportunities for millions of educated-unemployed youths of Bangladesh, the company started its journey on a very rough road. Since the marketing concept was new in Bangladesh, the company started to face with many difficulties from the beginning. The concept was misunderstood by many people, even by some of the government agencies.

However, under the dynamic leadership of its Managing Director, Mr. Mohammad Rafiqul Amin, the company could overcome those, and made a remarkable progress down the road.

During this period, the company has made significant contributions to the economy of Bangladesh, by paying not only more than 300 core taka taxes to the government, but also enlisted a large number of new taxpayers. With 2350 employees at present, the company has 36 sister concerns.

To bring a real change in the society as a whole, the company has been contributing a lot from the agricultural to the cultural sectors. Its contribution to fight against the sufferings of the humanity is remarkable. Always it stood with the people who were devastated with the natural calamities

And thus it translates its slogan into reality:

"Together We Build Our Dream."

Mission

The Mission of Destiny Group is to make Bangladesh free from unemployment. It is needless to mention here that, unemployment is the biggest obstacle on the way to our advancement. And it is the main cause of all sorts of social and family unrest. To get rid of this curse, and to salvage our youths from the nightmare of financial crisis, Destiny Group has established 26 companies with millions of employment opportunities. The curse of unemployment is not confined within the urban areas only rather it is deep rooted in the rural areas. Most of our agriculture farmers remain unemployed for months from harvesting one crop to the other. So, to provide them with employment, Destiny Group has been implementing some unique programs as tree plantation, cultivation and crop sharing, agro industries etc.

Vision

"Bangladesh: a country, free from unemployment" is the vision of Destiny Group. To get rid of the curse of unemployment, Destiny Group believes in creating the self employment opportunities throughout the country. And of course, the group has already marked an epoch-making task in the history of our employment.

The main business activities of the company include, inter-alia; Direct sales, Network Marketing, Manufacturing, Import and Export.

Destiny-2000 Ltd. has also taken steps to expand marketing areas outside the country. To this end, joint venture arrangements have been made with the following international Companies:

►Videocon, India,

►Nature Perfect, Thailand,

►Skin Code, Switzerland

►Hair Again, China (Joint Venture)

►AIM Food, Manufacturing SDN Malaysia

Destiny-2000 Ltd. has adopted latest IT Technology of Advance ERP system to enrich enterprise resourcing planning system, expedite online products distribution system and the real time online commission payout system to ensuring proper track recording and maintaining the business information of its Distributors day to day sales. Destiny has applied and adopted modern Hybrid Binary - matrix sales system (which is the combination of binary matrix and single unit uni-level sales system) and commission payout system which is known as geometric sales system of direct selling. This system is consisting of Balance Binary Matrix for weekly payout and HPD retail sales commission, which is suitable and easily understandable for mass people of Bangladesh. The High performance distributor (HPD) payout system is used for giving retail profit to direct seller distributor only for their single effort, and royalties to their respective up line sales leaders' weekly basis as well.

Destiny-2000 Ltd. is interested in constant contacting with world leading direct selling Companies of USA, Canada,