67981600 inplant training report[1]
TRANSCRIPT
DR. RAFIQ ZAKARIA COMPUS
MAULANA AZAD EDUCATIONAL TRUST’S
MILLENNIUM INSTITUTE OF
MANAGEMENTRAUZA BAGH, AURANGABAD.
In-Plant Training Report
In
“Varroc Engineering Pvt. Ltd”
SUBMITTED BY
SHAIKH AJJAS RAJJAK
Roll No. 95
Ghousia Mam Dr.SHAIKH SALEEM
Guided by Hon. Director
In partial fulfillment for the award of the degree
of
MASTER OF BUSINESS ADMINISTRATION
Dr. Babasaheb Ambedkar Marathwada University,
Aurangabad.
for the academic year2011-2012
DR . RAFIQ ZAKARIA COMPUS
MAULANA AZAD EDUCATIONAL TRUST’S
MILLENNIUM INSTITUTE OF
MANAGEMENTRAUZA BAGH, AURANGABAD.
CERTIFICATE
This is to certify that Shaikh Abdul Hadi, student of M.B.A. (IIIrd
SEM) has successfully completed his In-Plant Training in “Durovalves
India Pvt. Ltd”.
And has submitted a satisfactory report as per the requirement of
Dr. BABASAHEB AMBEDKAR MARATHWADA UNIVERSITY in
the partial fulfillment of the Master of Business Administration
(M.B.A.) for the academic year 2011-2012.
Ghousia Mam Dr. SHAIKH SALEEM
Guided by Hon. Director
DECLARATION
I here by declare that this report submitted by me in the partial
fulfillment of MASTER OF BUSINESSS ADMINISTRATION is
genuine work of me.
It has not been submitted either fully or partially to this or any
other institute prior in other connection.
SUBMITTED BY
Shaikh Ajjas Rajjak
ACKNOWLEDGEMENT
First and foremost, I am very thankful to the lord almighty for having best
owned upon his grace, without which I would not have got the strength to complete
my mini-project.
I take this opportunity to express my deep sense of gratitude to
Dr. SHAIKH SALEEM, Director of our college for their good wishes for this
mini-project.
I express my immense gratitude to our Principal Mr. IMRAN KHAN, for his
support and encouragement for the completion of my project.
The valuable and unflinching requital support in this endeavor Mrs. Ghousia Mam,
Faculty of Millennium Institute of Management, my internal guide whose assistance
was immeasurable to the completion of this project.
Last, but not least, I would like to thank for timely assistance and suggestion
of numerous other staff of Varroc Engineering pvt. Ltd., friends and parents.
Shaikh Ejaz Rajjak
Index
Exclusive Summery
History of the Company
Varroc in Aurangabad
Company Profile
Board of Directors
Mission and Vision
Objectives of In-Plant Training
Products of the Company
Vendors of Varroc Polymer
Major Customers
Competitors
Study of Various Departments
SWOT Analysis
Suggestions
Conclusions
Bibliography
EXECUTIVE SUMMARY
“Tree cannot touch the skies, but certainly can have branches.” Varroc Group
too believes in this axiom, and has strong footholds in Polymer, Electrical, and
Metallic Divisions and exists in all important auras of Automobile sector.
Now, Varroc Group has ventured into the field of automotive components &
sub assemblies of 2, 3, and 4 wheelers in domestic and overseas market with an
objective to become the preferred quality supplier across the globe.
To survive and achieve success, any ventures need to understand the dynamics
of competition in their industries and develop skills and capabilities that give them a
competitive advantage. This is especially true among automotive industries. Customer
do not buy only products as such, they buy satisfaction, hence organization must be
clear about the satisfaction the customer is seeking and check out whether supplier is
also meeting the standard as per concern of quality, delivery & service provided so
that proper improvement is achieved throughout the supply chain.
This report is based on above mentioned problems i.e. quality standards of
existing suppliers. This report is broken down into four main parts, first its deals with
the introduction and the scope of the research, second explains the profile of the
Varroc Group followed by process or methodology adopted under the research
methodology and the review of literature and finally concluding by analyzing the
collected data.
The work environment of Varroc group was absolutely encouraging and full of
support. During my training, on one hand I learned much about Varroc, their work
culture, on other hand I got the knowledge of supply chain management.
OBJECTIVES OF IN PLANT TRAINING
For any MBA student, a learning combination of theory and
practice is an invaluable asset, as it helps in understanding the core
principles of business by way of first hand experiences. This in-plant
training is a stepping stone which will groom me for my future in the
corporate world.
Following are the objectives of In-plant training:-
To get an Industrial exposure.
To be aware of the happening in a particular industry.
To learn functioning and operations of different departments in an
organization.
To get knowledge about the working culture of the organization.
To achieve knowledge about different sectors in market for making
choice as to which go for.
To have knowledge about the huge management practices and get
the practical knowledge of what we have studied.
SCOPE OF RESEARCH
After completing this project, the researcher will get knowledge
about today’s challenging supply chain management. Since this project is
a part of researcher’s course curriculum so it is essential for researcher for
completing “Masters of Business Administration” degree which will help
researcher in building his career. It will also increase researcher’s
confidence level so that he will be able to adjust himself in such kind of
esteemed organization. This research study will help the company to
know about the existing supplier quality rating. This study will also help
the company to determine the strategy about supplier quality up
gradation.
LIMITATIONS
Stipulated time period is the main limitation of the study project.
It was very difficult to get the suitable data as supplier is scattered.
INTRODUCTION ABOUT VARROC GROUP
The Varroc Group manufactures and markets a highly
diversified portfolio of automotive components and sub-assemblies
for two wheelers, three wheelers, and four wheelers, for sale in the
domestic market as well as overseas.
The Group is structured into two separate entities: Varroc
Polymers, and Varroc Engineering, as names suggest, manufacture
polymer based and engineering based components (electrical,
electronic and mechanical) respectively.
Varroc’s rate of growth has consistently outpaced the
industry growth rate as a whole. This consistent high growth has
been fueled by their focus on operating efficiency and product
quality.
"The Varroc Group has built-up a significant presence in
quality automotive components and sub-assemblies for 2, 3, and 4
wheelers in the domestic as well as the overseas markets."
About Metallic Division:
The metallic division is the primary growth thrust area for the
Group as a whole, products currently manufactured include engine
values, hot, warm and cold forged parts, and catalytic converters. The
Division operates through six plants in India & Europe.
As in the case of all cutting edge manufacturing the core strength
of the Division lies not in the manufacturing ability but in its product
Development and Engineering expertise. This enables us to save cot and
time from the receipt of enquiry to the commencement of production.
This provides a significant differentiator compared to the other
manufactures. For example, our forging simulation software eliminates
the need for costly shop trails of new dies and also enables us to provide
an optimum weight of the forged part. It is thus possible to quote more
competitive prices without sacrificing profitability wherever fully
finished parts are supplied, the optimized forging weight facilitates
reduced cycle times on sub sequent operations again resulting in cost
saving.
The Engineering, Centre for the Division Comprised a team of over
twenty dedicated professionals who constantly work on improvement of
there existing products. Our new manufacturing Engineering facility
enables them to optimize there layouts to achieve the most efficient
manufacturing configuration.
“The Engineering Centre for supporting European operations is a
group of 10 dedicated engineers who create two to three 3-D models par
day thus reducing product development time drastically.”
- Mr. Ram
Parthasarathy
Group Sr. Vice
President,
Metallic Division.
History of Varroc Engineering:
Beginning with a venture in Aluminum Die Casting in 1985, the
Jain Group made a successful foray into the automobile industry by
manufacturing engineering products. However, with plastics making its
presence felt in different aspects of life, the Jains foresaw a vast potential
to expand its business in the booming automobile and consumer durable
industries. This far-sight enabled them to sow the seeds of successful
foray into polymer engineering. Consequently, Varroc Engineering was
setup in the year 1990. It is operating through two divisions: Metallic and
Electrical.
VISION
We are committed to serve the society by adding value to the
customers, employees, the shareholders and the community at large
in terms of:
- Providing customer satisfaction offering reliable, products and
services at competitive prices.
- Providing an environment, conductive to the development,
growth and satisfaction of employees while fulfilling their
reasonable aspirations.
- Providing adequate returns to the shareholders while returning
business growth.
- Contributing to the well being of the society and conducting
ourselves as a responsible corporate citizen known for integrity
and ethics.
MISSION
Varroc aim to become global player in the business of
component suppliers to automobile and non automobile industry
across India and select foreign markets, like USA, Europe, China
and Asian regions growing at 25% CAGR with 10% of the value of
products being exported by the year 2013.
COMPANY PROFILE
1. Name - Varroc Engineering Pvt. Ltd.
2. Address - Varroc Engineering Pvt. Ltd.
VEPL – V
L – 6/2, MIDC Industrial Area,
Waluj, Aurangabad – 431136.
Maharashtra, India.
3. Year of Establishment - 1990
4. Core Values - Sincerity, Humility, Integrity,
Passion, Self-discipline
5. Website - www. varroc engg.com
www. varroc group.com
6. Land - 45000 sq. m
7. Canteen facility - No
8. Standards - ISO 9001-2000 Certified
ISO/TS 16949:2001
ISO 14001 Certification
9. Bankers - Citi Bank, HDFC, ICICI, SBI
10. Weekly off - Friday
11. Accounts - SAP system
12. Products - Automobile Parts
13. No. of Employees - More than 1000
14. Staff - Well trained technical
and non-technical
CORE VALUES OF ORGANIZATION
We are committed to making Varroc a leader in the industry & ensuring that
varroc is always the first & most trusted choice for its customers.
SINCERITY:
To go the distance
In carrying out roles & responsibilities transparently
In expression of thoughts & feelings
In concern for the team & the company
HUMILITY:
To walk with everyone
By showing respect for others
By sharing success & achievements
By being open & positive
INTEGRITY:
To do what is right
To inculcate a culture of healthy competition
To have no tolerance for unethical practices
To adhere to commitments
PASSION:
To achieve against all odds
To proactively participate in the organization
To bring about innovation in all work
To remain motivated against all odds
SELF DISCIPLINE:
To make it happen
To take ownership for your actions
To be consistent & dependable at all times
To learn & improve everyday
Managing Director : Mr. Tarang Jain
Group Senior Vice President
Business Development : Mr. Ashok Chandak
Chief Financial Officer : Mr. B. Padmanabhan
Group Senior Vice President
Polymer Division : Mr. S.N. Patil
Group Senior Vice President
Human Resource : Mr. Anjani Koomar
Group Associate Vice resident
Corporate Materials : Mr. M. P. Sharma
Associate Vice president
Pantnagar Operation : Mr. Harsh Kohli
Group Associate Vice President
Electrical Division : Mr. Naveen Singh
Associate Vice President
Metallic Division : Mr. Prakash Khose
Associate Vice President
Operations : Mr. Vineet Tyagi
Chief Systems Auditor : Mr. Arvind Khanna
COMPANY POLICIES:
PLANT TPM STRUCTURE
Managing Director(Mr. Trarang Jain)
President (VEPL)Mr. Sanjeev Kumar
Business Head(Mr.Prakash Khose)
Plant Head(Mr. A.N. Pawar)
Machine Shop Head
(S.R. Kulkarni)
TPM Chairman
TPM Corporate Group Head
TPM Corp. Sec(Div)
Cold Forging Head
(S Londave)
Hot Forging Head
(B.B.Rajput)
Heat Treatment Head
(B.R.Randave)
Quality Head(S. chanagond)
Maintence Head(R.K. Gupta)
JH – S. Pardesi
KK – Jami Rao
PM – S.C. Jain
Q.M –
SHE – B.B.Rajput
Leader LeaderLeaderLeaderLeader Leader Leader Leader
Relationship between Vision & TPM Policy:
Sr No. Company Focus Companies Vision TPM Policy
1. Customer Customer
Satisfaction
Customer delight through zero
defects, on time delivery and
prompt services.
2. Total Employee
Involvement
Employee
Satisfaction
Safe & healthy working env.,
leading to higher morale.
3. Development Technology
Development
produce reliability
Improve product reliability
& work culture.
4. Society Contribute towards
betterment of
society
Total internal & external
customer satisfaction.
8 Pilars of TPM
1) JISHU HOZEN – Operate himself maintaining the machine
2) KOBETSU KAIZEN – Elimination of losses
3) Planned Maintenance – Achieving Zero Breakdown
4) HINSHITSU KAIZEN – Zero Defects
JISHU
HOZEN
KOBETSU
KAIZEN
PLANNED
MAINTENANC
HINSHITSU
KAIZEN
EDUCATION
&
TRAINING
SAFETY
SANITATION
ADMINISTRATION
DEVELOPMENT
MGT.
Plant Level Target 2011-2012
Area Parameters UOM 10-11 Target
11-12
Productio
n
Machine shop Overall equipment efficiency % 82 90
Forging Production per hour Nos 3880 4268
Heat treatment Output / Man Nos 2553 2478
Overall equipment efficiency % 64 75
production per day Kg 7063 7769
Quality Measure of quality rate PPM 617 <1000
Early failure PPM 191 0
Overall Line rejection PPM 58 0
Line rejection pp Nos 5 0
Inhouse rejection PPM 12000 0
Inhouse rejection pp Nos 65 0
Cost Total Consumption cost % of sales 2.70 2.50
Consumable cost % of sales 3.60 .350
Plant Level Electricity, gas & fuel cost % of sales 8.30 7.27
Contract labour cost % of sales 2.70 2.13
Freight % of sales 2.10 2.06
Delivery Delivery schedule Adherence (OEM) % 98 100
D. S. A. (SPD) % 94 100
Overall SFG inventory Days 15 10
FG inventory Days 1 2
Safety No of minor accident Nos 0 0
Overall No of major accident Nos 0 0
No of near miss cases Nos 2 0
Morale Overall No of Kaizens per man per month Nos 1.5 2
Training Man days / month / year Days --- 12
Area Parameters UOM 10-11 Target
11-12
Productio
n
Machine shop Overall equipment efficiency % 82 90
Forging Production per hour Nos 3880 4268
Heat treatment Output / Man Nos 2553 2478
Overall equipment efficiency % 64 75
production per day Kg 7063 7769
Quality Measure of quality rate PPM 617 <1000
Early failure PPM 191 0
Overall Line rejection PPM 58 0
Line rejection pp Nos 5 0
Inhouse rejection PPM 12000 0
Inhouse rejection pp Nos 65 0
Cost Total Consumption cost % of sales 2.70 2.50
Consumable cost % of sales 3.60 .350
Plant Level Electricity, gas & fuel cost % of sales 8.30 7.27
Contract labour cost % of sales 2.70 2.13
freight % of sales 2.10 2.06
Delivery Delivery schedule Adherence (OEM) % 98 100
D. S. A. (SPD) % 94 100
Overall SFG inventory Days 15 10
FG inventory Days 1 2
Safety No of minor accident Nos 0 0
Overall No of major accident Nos 0 0
No of near miss cases Nos 2 0
Morale Overall No of Kaizens per man per month Nos 1.5 2
Training Man days / month / year Days --- 12
Product Profile of Varroc Group
Varroc have a state-of-the art, environment friendly Poly Urethane Foam
molding facility for the manufacture of foam pads and seat assembly for
two, three and four wheelers. Varroc have robot control line at Aurangabad
Plant.
Installed Production Capacity is 5000 T. Per Annum. Client include such
prestigious names as Bajaj Auto, Tata motors, Ashok Leyland, Yamaha in
the domestic market and Audi, Fiat, GM, and Daimler Chrysler in the
international market.
Varroc manufactures and supply seat assembly to automotive customers,
power train manufacturers across the globe. Varroc Group has adopted the
TPM system to ensure continuous improvement and sustenance of the
quality of the products. All divisions manufacture precision high quality
parts for the automobile industry.
METALLIC DIVISION:
Engine Valves
Crank pins for motorcycle
Hot, cold & warm forged machined components
Catalytic converters for 2, 3 and 4 wheelers
Engine Valves
Engine valve is like a control system,
to admit the air-fuel mixture in the
engine cylinder, and to allow the
exhaust gases to go out at correct
timing.
There are 2 types of engine valves
1. Inlet valve
2. Exhaust valve
Both valves having three parts
Head
Stem
Groove
CRANK PINS FOR MOTORCYCLE:
Motorcycle Engine Crank Pin
that is used in agriculture, industrial
and other sectors. The Motorcycle
Engine Crank Pin offered by us is
supplied to the clients after it is
tested on different parameters.
Also, we are one of the credible
Manufacturers of Motorcycle
Engine Crank Pin.
Sometimes the crank pin function is not a round pin or bolt at all. It may instead be a
small pedal. Such is the case on some automotive clutch, brake, or accelerator pedals,
where the bottom of the driver’s foot rolls across the face of the pedal as it is depressed.
Crank pins in automotive engines may be from 1.5 to 3 inches in diameter, (38 to 76 mm)
and bear loads of a ton or more (990 kg) when the piston is pushed down by the
combustion cycle. They are ground to be absolutely smooth to present a long-wearing
surface to the piston connecting rod and bearing attached to them. Crank pin applications
in small instruments may require only 1 ounce (28.3 grams) or less of force, and may
have jeweled bearings to increase their precision and longevity.
A crank pin may be a pin, bolt, or screw, or it may be machined into the crank as one
piece. On the classic steam locomotives that ruled the tracks of the early to mid-1900s,
the crank pins were part of the large main drive wheels. Long steel rods connected the
steam cylinders on each side of the locomotive to one of these wheels. The remainder of
the drive wheel crank pins were connected by a single long beam that kept the wheels on
each side turning in unison. Crank pins on the engines of ocean going steam powered
liners can be up to several feet in diameter (approximately .5 meters) and help turn 20
foot (6 meter) diameter propellers.
MOTORCYCLE ENGINE CAMSHAFT
Motorcycle Engine Camshaft that
are easily available at pocket friendly
prices. The Motorcycle Engine
Camshaft that we bring forth is
manufactured by the knowledgeable
engineers of the company and
therefore is free from all kinds of defects that can affect its performance.
HOT, COLD & WARM FORGED:
Cold forging involves either
impression die forging or true closed
die forging with lubricant and circular
dies at or near room temperature.
Carbon and standard alloy steel
forgings are most commonly cold-
forged. Parts are generally
symmetrical and rarely exceed 25 lb.
The primary advantage is the material
savings achieved through precision shapes that require little finishing.
Completely contained impressions and extrusion-type metal flow yield
draftless, close-tolerance components. Production rates are very high with
exceptional die life. While cold forging usually improves mechanical
properties, the improvement is not useful in many common
forging applications and economic advantages remain the primary interest.
Tool design and manufacture are critical.
CATALYTIC CONVERTERS
Mechanical cranks convert
linear motion into rotary
motion or vice versa. In
general, cranks consist of a
main shaft which rotates, a
crank pin which revolves
like a planet around it, and
a crank throw to solidly
connect them. Handles or
knobs on hand-driven
cranks may either
comprise the crank pins or
spin freely on the crank
pins. Crank pins are most
often parallel to their main
shafts. For cranks that can
turn through a full 360 degrees, their crank pins must be offset to the side of the main
shaft.
Cranks can be found at work in every area of life wherever manual motion is converted to
rotary motion. Fishing reels, manual winches, meat grinders, and garden hose reels all
use cranks to allow people to easily create continuous rotary motion. Bicycle pedals
function as crank pins between the rider’s foot and the pedal crank that drives the chain.
There are two types of cranks. The first type is the continuously rotating crank, such as in
engine crankshafts or on bicycles, where the crank can continuously turn more than 360
degrees without having to reverse. The second is the partial circle crank, where the entire
rotary motion of the main shaft may be 90 degrees or less, as with steering linkages or
ventilation damper adjustments.
Employee Engagement
HR Management:
According to recent Gallup Poll, the most critical job of CEO’ is to
‘attract and retains’. Thus unfortunately you cannot retain people by money
alone, you have to engage them physically, mentally and even spiritually.
HR interventions have to be culture sensitive as well as he world moves
from ‘Classical Economy’ to ‘Knowledge Economy’. HR perforce has to
take the centre-stage, while Machine, Money and Material provided the
competitive advantage earlier, suddenly it is the collective wisdom and
knowledge of employees which is giving the sustainable edge in the
marketplace. Companies not only survive, but grow on this base. The first
major problem with earlier model was that all the above mentioned physical
assets were ‘inert’ in nature. The only ‘like asset is man’ and you requrie
their interventions to make inert assets useful for the organization. The old
dicutm that ‘it is not the machine who makes the real differnce’ really true
afterall. The second problem was that all these assets could easily be
duplicated or even bettered by any competitor within a short spam of time.
Organizations now realized, after much suffering unfortunately, that their
HR assets or systems are the only resource difficult to imitate and hence
provides the sustainable competetive advantage. Thus, increasingly HR has
System DesignWork Flow design, HRM Policies / Practices / Support Technology and Systems
Linkageto
Strategy
Linking to Principles of High Involvement
to take the lead in making an internal work environment where employees
could grow professionally as well as personally. They at Varroc therefore
are leap forgging from personel and adminstration. CPA & Industrial
Relations (IR) to strategic HRM (SHRM). A well planned strategy to
introduce a High Performance Work System (HPWS) (see following figure)
is currently being implemented at Varroc.
Building a HPWS
OutcomesFor
a) Organizationalb) Employees
HPWS is no nuclear science but, a specific combination of HR
Practices, work structures and processes that maximize employee
knowledge, skill, commitment and flexibility. It has 4 critical strategies or
Catalysts (see in following figure).
4 Catalysts for HPWS
To PMSDirctly linkedRecognition
&Reward
Equalityacross
Company
KnowledgeUp gradation
System
InformationSharing
& Learning Culture
High Performance
Work System
Recognition & Rewards are directly linked to PMS:
Employees are helped to have better clarity via the Key Results
Area (KRA) workshops. They are empowered to make their own
targets and ensure that these targets are well-aligned with the
corporate strategies. Their well-designed Performance Management
System (PMS) then ensure that employees are assessed as well as
rewarded for meeting and exceeding these challenging KRAs. The
rewards are for individual efforts as well as team performance. Their
trust is to make every employee a success story.
Information Sharing & Learning culture:
As they are geographically spread all over India and abroad, it
becomes very important for us to develop a sense of cohesion. They
attain it through our newsletter, “Varroc Pulse” and may other formal and
informal communication channels. The top leadership meets as a group
every quarter and all critical information is shared. Employees
continuously get all the latest news about the Group so that they can take
effective decisions in their respective domains.
Knowledge Up-gradation System:
A Knowledge Management (KM) portal under construction so that
all the best practices and initiative are achieved for future use. The idea is
to build on the previous successes and raise the knowledge bar, instead of
re-inventing the wheel, they ensure that the new ideas and initiatives are
institutionalized and become a way of life at Varroc. The target is to
capture the ‘explicit’ as well as ‘implicit’ knowledge of our great human
assets. ‘Innovation’ and ‘Entrepreneurship’ are two trust areas at Varroc.
Equity across Company:
Everyone is equal theirs despite differences in designations,
compensations etc. They wear the same uniform right from MD down to the
lowest levels. During training programs everyone is treated equally in
dealing the Business / Function Heads. Work atmosphere is informal and all
the senior manager believe in ‘Open-door Policy’. Everyone has the freedom
to show dissent, but certainly in a positive and a constructive manner.
HR Transition:
“Cost Centre to Investment Centre”
Thus behind the implementation of HPWS is the idea of empowering
the employees so that they can work on their own to contribute to the
Corporate goal. The role of HR in this entire exercise is to facilitate the
nurturance of talent. To each and every subcomponents of HR Architecture,
right from ‘Manpower Planning’ to ‘Recruitment and Selection’ e.g. R&S
etc and re-engineered it with the sole aim of helping our employees to excel.
Take one of our major thrust areas e.g. R&S. They have designed a unique
Curriculum Vitae Assessment System (CVAS) which looks at a prospective
employee from ‘person job-fit’ as well as ‘person-organization fit’.
Perspective so as to indentify he best talent on whom they can best long
term. CVAS assesses a candidate on 5 major factor (Work, Experience,
Education, Communication stability and person-organization fit) which are
further sub divided into 12 different sub factors in a structured and scientific
way so as to shortlist the best. Our experience shows this to be almost 90%
accurate thus far. They also understand that there are no universal qualities
for a prospective employee as no two jobs are exactly identical. However,
we expect a candidate skills vis-a-vis the job in question, but also to have the
8 managerial competencies which they have identified over and above that
the candidate to incorporate and practice the Varroc Core Value System
namely “Passion, Humility, Integrity, Self-discipline and sincerity”
These candidates than undergo an Assessment Centre (AC) which
typically looks at the candidate through a variety of selection methods by
multiple assessors o avoid the usual subjective content of selection process.
During AC itself they also start indentifying the skills and competency gap
which are later addressed through Training & Development (T & D).
Once the candidate is selected HR helps the candidates to be placed in
the most optimal way through a well designed induction process. Idea is that
each individual should know his key stakeholders. KRAs as well as key
deliver able even before he starts working. He than goes through at-least two
PMS process during his probation period so that shortcomings, if any can be
quickly ironed out. Thus, HR concentrates on making a success story each
time a person joins.
Since HR has to make the difficult shift from a ‘Cost Centre’ to an
‘Investment Centre’ it is imperative to make HR people the true
leaders to face the new paradigms of business and management.
Accordingly “HR Leadership Conclaves”, are held every quarter
where HR people are taught to become change leaders. Both
theoretical and practical inputs are provided at such conclaves so that
HR employees have to cutting edge. Knowledge and technology at
their disposal.
Perfection
Training to be a true Varroc employee:
Training & Development initiatives are available at each stage and
cover the following modules:
- Technical Training:.
Strong internal teams of trainers offer a variety of training
programmers’ in technical areas regularly.
- Quality Process Training:
Varroc has strong focus on quality processes and methodologies.
Training on various facets of IPM and Quality Tools keep one abreast of
the latest development in his/her area.
- Management Effectiveness and Leadership Programmer:
A series of programmers on enhancing the managerial capabilities and
leadership abilities ensures that our employees are properly geared up to
focused on ‘Customer wow’ rather than mere ‘Customer Satisfaction’
- Paradigm shifts from IQ to EQ to Spiritual Quotient (SQ):
There is also a humble effort to help the employees establish the work
life balance and improve not only their IQ an EQ, but also their SQ.
They look at their people holistically and believe in the old Indian
concepts of moving from body and mind of soul. Hence, regular batches
of employees are send to attend yoga (SSY) where they are taught
different ‘yoga sans’ (for harnessing physical quotient), ‘Parnayam’ (for
refining the emotional quotient) and ‘dhyana’ i.e meditation (for
blossoming he spiritual quotient). IQ is almost an incidental bonus.
‘Karmayoga’ or ‘work is worship’ is strongly emphasized for all around
development of the individual. They strongly believe that a good deader
has to be a good human being first. This initiative has generated
tremendous enthusiasm within the organization.
Training Methods:
SSY ashram
On the job learning
Computer training sessions in programs
Lecture training methods.
SUGGESTIONS & RECOMMENDATIONS
Every company should try to match their Cash with the sale. In case of surplus
cash, it should be invested either in securities or should be used to repay
borrowings.
The company should try to prepare a proper ageing schedule of debtors. This will
help them to reduce the bad debts speed up collection efforts.
The company should try to follow a matching policy for financing current Assets
(i.e.) using both long term and short-term sources of finances.
Every bank or company should maintain their liquidity position.
The company should try to recover cash from Sundry Debtors.
The company or bank should try to pay borrowing money taken from outsiders.
CONCLUSION
The Cash Management Analysis done on the financial position of the
company has provided a clear view on the activities of the company. The use of the Cash
Flow Statement and other accounting and financial management helped in this study to
find out the financial soundness of the company.
This project is very useful for the judgment of the financial status of the
company from the management point of view. This evaluation proved a great deal to the
management to make a decision on the regulation of the funds to increase the sales and
bring profit to the company.
BIBILIOGRAPHY
BOOKS:
Finance Management – Prasanna Chandra
WEBSITES:
www.moneycontrol.com
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