HIRA TARIQ

MBA

12-12-2011

INTERNSHIP REPORT

Table of Contents

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Contents Page No.

1. Acknowledgement 3

2. Synopsis 4-5

3. Bulls & Bulls – One Window Solution Provider

Introduction

Down the Memory Lane

On the Move

Organizational Structure

Strategic Partners

Products

5-9

4. Bulls & Bulls – The Internship Tenure

Marketing Department

Human Resource Department

Sales Department

Call Center

Operations Department

10-13

5. Recommendations 14

6. Conclusion 14-15

7. Appendixes

Bibliography

Organizational Hierarchy

16

Acknowledgement

This Report based on my Internship tenure from September 01, 2011 to December 01, 2011 in Bulls & Bulls (Pvt) Ltd has come to its final shape after a great struggle and effort by the grace of Allah Almighty.

I would like to thank all the heads of the departments who gave me ample time from their busy schedule and endowed with their support and provided necessary information that would definitely be useful in my studies and further in future. Here, I would like to mention the endless cooperation of Mr. Muhammad Adil Ansari (Manager Marketing), Mr. Fawad Raza Sayeed (Marketing Executive), Mr. Atif Fayyaz (HR Executive) & Mr. Aftab Mohiuddin (Operational Manager). These people guided me in the best possible way they could, listened to my queries patiently and gave satisfying responses. The knowledge imparted by these gracious people hasn’t only helped in preparing this report but will also be useful in my future assignments. I would also like to pass on my gratitude to all the employees of Bulls & Bulls whose names haven’t been mentioned here and who one way or the other assisted me thus keeping the stay in Bulls & Bulls comfortable and remarkable.

Finally I would like to acknowledge the endless help extended by Mr. Azhar Iqbal Siddiqui (Head of HR Department) & Mr. Abdul Rehman Butt (IT Executive), facilitating my internship tenure in Bulls & Bulls and making it unforgettable.

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Bulls & Bulls - Synopsis

This report encompasses my internship experience in Bulls & Bulls and the task I performed in my six weeks tenure. It is indeed a great pride for me interning in the largest Financial Distribution Company of Pakistan. This was my third internship and I have no hesitation to say that I enjoyed it the most. Not because of HR people will read this report but because I learned a lot supplement to what I learned in the University.

Bulls & Bulls incorporated as a Private Limited Company in March 2008 and embarked on a revolutionary crusade to transform the financial industry. Bulls & Bulls has distinctive philosophy which encourages all income level families about Wealth Management, to boost their confidence to invest in their family’s future. Bulls & Bulls being the only “one window financial solution provider” for the Financial Industry has expanded its campaign to address the number of financial issues being faced today by different segments.

Bulls and Bulls have come a long way since coming into existence. A testament to our success is the number of high quality clients we have added since our inception. Our business is our partner’s & our customer’s success. That’s why leading Insurance Companies, Asset Management Companies & Banks have trusted us.

My internship, which is the theme of this report, was of 4 months, started from September 01, 2011 and ended on December 01, 2011. During these six weeks internship tenure I was placed in different departments thus was allowed to get the exposure of different departments and their working. The peculiar thing about this internship was I got the taste of Insurance, investment, Mutual Funds just by interning in Bulls & Bulls. This specialty that Bulls & Bulls posses can’t be found anywhere else. Because of this diversification, I got the ample opportunity to grasp all the concepts and issues related to marketing. No matter in which field I get the job, this internship will eventually help in making task easier and adjusting in the office environment. Bulls & Bulls has acclimatized me with the various marketing related issues that I believe won’t be going to waste.

In all, I was rotated in following five departments.

Marketing Department Human Resource Department Sales Department Call Center Operations Department

The maximum time that I spent was in Marketing Department being the core department. Without getting biased or prejudiced, this stay in Marketing Department is the most favorite and will remember in coming years. Not only I learned lots of things, which not even were taught in classrooms but also developed a friendly relationship with all the employees of this department right from the head of the department to the messenger. All the employees rendered their support and tried to transfer as much knowledge as they could, which needs to be appreciated. Employees of other departments also remained helpful to me but Marketing Department I liked the most. If someone asks, in which department I would like to work? My prompt reply would be, in Marketing Department.

Bulls & Bulls is still growing and more new departments are to open up in coming years. But what has been achieved until now is something found rarely in the history of business and insurance. An organization that started with a lot of problems but managed to tackle all the problems faced. Due to the hard work of the owner and the dedicated employees the company managed to become one of the largest financial product distributor and solution providers in the country. Bulls & Bulls is the only company

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which provides solution to all financial problems under one roof. This is Bulls & Bulls – Empowering You To Decide.

Bulls & Bulls – Empowering You To Decide

Introduction

The First and the Largest Financial Product Distribution Company in Pakistan. Incorporated with Securities & Exchange Commission of Pakistan (SECP).The First Acquisition-based Company for Insurance, Mutual Funds, and Deposits Mobilization & Brokerage Products. Owned and Governed by the Board of Directors. Managed and Operated by Competent and Experienced Human Resource. Complete and In-depth Knowledge of Customers, especially in Retail Market.

Mission Statement

To be recognized as the largest and most productive Sales and Distribution Company of the financial Sector, adding value to our Partners and our customers.

Bull’s Strategy

You can now seek our expert assistance in crafting and implementing business strategies. Our team of highly skilled professionals will work with you to develop sales channel, human resource management, complete outsourced solution, training and development strategies that are unique, actionable and measureable. We assure you in developing brand loyalty and drive new revenues covering critical market segment with complete and in-depth knowledge of consumers and competitors.

Services of the company

Call Center

Have Professionally Skilled and Highly Trained Tele Callers. Have Centralized Telesales unit which will operate on outbound Call Center basis. Provide Customized Outsourcing Solutions. Have State of the Art Technology.

Direct Sales Force

Direct sales force creates a dedicated team of energetic sales professionals to represent different brands. Leveraging our expertise in sales force and demand management, we can supplement your current sales efforts by providing you with flexible resources and deep penetration in retail sales for your product. Bulls& Bulls the largest retail sales & distribution network of the financial industry. We focus selling and distributing multiple product range covering critical market segments.

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Outsourcing Channel Management

Mobilization of Deposits. Bancassurance. Credit & Collections outsourcing through Direct Sales Force & Call Center backing. Professional Training & Human Resource Management.

On the Move

The Management has undertaken and is going to take several steps to covert Bulls & Bulls a One Window Solution Provider. The organization is on verge of expansion. The following actions are taking place for the expansion of company:

Opening New Franchises Partnership with different insurance companies

There is always a room for continuous development. One shouldn’t rely on what has been achieved. Rather he should strive for more and more in search of better opportunities and ways through which he can get optimum benefit. People resist change but when they avail the bounties of the change, they start acknowledging it. Same is the case in organizations. Employees resist change in the structural or managerial setup for their own reasons. Management shouldn’t get itchy about it. If it feels that the change is vital and will going to work for the betterment of the organization, it should go for it.

Organizational Structure

Bulls & Bulls is one of the largest Financial Product Distributor of Pakistan. The Company has three branches located in three main cities of the country:

Head Office Karachi Bulls & Bulls Lahore Bulls & Bulls Islamabad

The organization consists of the following departments:

Marketing department Human Resource Department Finance Department IT Department Sales Department Sales Operations Department Call Center

Strategic Partners

Asset Management Companies

Al-Meezan Investment Limited IGI Funds Limited Arif Habib Investment Limited National Fullerton Asset Management Limited (NAFA) AKD Investment Limited

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Insurance

EFU Life Assurance Limited Efu Allianz Health Insurance Limited Efu General Insurance Company New Jubilee Life Insurance Company Limited New Jubilee Insurance Company Limited (General) Pak Qatar Family Takaful Limited American Life Insurance Company Pakistan Limited New Hampshire Insurance Company Limited Pak Kuwait Takaful Company Limited

Products

As we have already discussed that Bulls & Bulls is the company who provides financial solutions and distribute financial products. The company doesn’t have its own products. The company mainly deals in the products of its strategic partners. The products in which the organization deals are given below with their company names:

Insurance

EFU GroupEFU LIFE

Security Plan Education Plan Prosperity for Life Funds Acceleration Premium

EFU GENERAL

Travel Insurance Mukammal Tahaffuz

EFU ALLIANZ

Health Line

AIG GroupAlico AIG

Savings Plan Life Cover Plus Safe Road – Car Safe Road – Motorcycle College Education Plan Hospital care Vision for Financial Security Accelerated Savings Plan Vision for Retirement

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AIG New Hampshire

Auto Secure

NJI GroupNJI Life

Zamin Savings Plan Secure Life Plan Secure Joint Life Plan Secure Education Plan

NJI General

Family Sehat Home Care Shop Care Plus Travel Insurance Marine

Pak-Qatar

ABC Plan (Education Takaful) Share n Care Plus Share n Care

Pak Kuwait

Fire Marine Motor Miscellaneous Engineering

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Bulls & Bulls – The Internship Tenure01st September, 2011 – 01st December, 2011

My internship was of 4 months, started from September 01, 2011 and ended on December 01, 2011. During this four months internship tenure I was placed in several departments thus was allowed to get the exposure of different departments. The peculiar thing about this internship was I got the taste of insurance, investment, mutual funds just by interning in Bulls & Bulls. This specialty that Bulls & Bulls posses can’t be found anywhere. Because of this diversification, I got the ample opportunity to grasp all the concepts and issues related to marketing. No matter in which field I get the job, this internship will eventually help in making task easier and adjusting in the office environment. Bulls & Bulls has acclimatized me with the various marketing related issues that I believe wont b go into waste.

In all, I was rotated in five departments. The maximum time that I spent was in Marketing Department being the core department. Without getting biased or prejudiced, I will remember my stay in the Marketing Department in coming years. Not only I learned lots of things, which not even were taught in classrooms but also developed a friendly relationship with all the employees of this department right from the head of the department to the messenger. All the employees rendered their support and tried to transfer as much knowledge as they could, which needs to be appreciated. Employees of other departments also remained helpful to me but Marketing Department I liked the most. If someone asks, in which department I would like to work? My prompt reply would be, in Marketing Department.

In the upcoming pages I’ll describe my stay in each of the five departments I interned encompassing tasks performed, difficulties and problems I encountered with, employees attitude and the knowledge that I eventually grabbed. The order would be the same as that of the program I followed starting from the Marketing Department.

Marketing Department

Tasks Performed

During my stay in this department, I was briefed about the functioning of the department. I spent most of time of my internship in this department. I performed different tasks in this department working side by side with the marketing department people. The tasks I performed are as follows:

Proposal Writing Designing Brochures

Employees’ Attitude

My mentor in this department is Mr. Muhammad Adil Ansari, he is the Marketing Manager of the company. I had a great time working in this department. The employees in this department were very helpful and they guided me in every moment. The second person whom I would like to thank is Mr. Fawad Raza Sayeed (Marketing Executive), he was my project coordinator during the internship tenure. He was very helpful and guided me in every step.

Problems Encountered

I haven’t faced any problems during my time which I spent in the marketing department.

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Human Resource Department

Tasks Performed

During my stay in this department, I was briefed about the functioning of the department. I enjoyed working in this department because the work in this department was very interesting. The tasks which I performed in this department are as follows:

Filing of Documents Conducting Tests Attending HIT Training Sessions

Employees’ Attitude

My mentor in this department was Mr. Atif Fayyaz, he is the HR Executive. I was very much honored to work with him. He guided me with in every step and made me understand the importance of the HR department.

Problems Encountered

I haven’t faced any problems during my time which I spent in the HR department.

Sales Department

Tasks Performed

The toughest time of my internship was the time I spent in this department. During my stay in this department I had to do a lot of field work. I met a lot of new people and had great time interacting with them. The tasks which I performed in this department were:

Policy Selling Marketing the company Making sales call

Employees’ Attitude

The employees treated me well during my stay in this department. Despite of their busy schedules they were ready to help me out at any time. They helped me understanding that how sales calls are made, how to gather leads and how to pitch a customer with the right product.

Problems Encountered

In the beginning I was a bit nervous about how will I be able to talk to the people whom don’t know and how will I be able convince them. But by the help of the employees I was able to come over my fears.

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Call Center

Tasks Performed

I spent my last days of internship in the call center. There was not much work to do in the call center,I just had to sit and attend calls. I enjoyed working in the call center as performing the tasks their and talking to different people and handling their problems made my confidence level reach a higher level and the element of hesitation minimized.

Employees’ Attitude

The employee’s attitude in the department was good. They helped me a lot in learning the ways in which we can tackle customer’s complaints and how to resolve them.

Problems Encountered

I haven’t faced any problems during my time which I spent in the marketing department.

Operations Department

Tasks Performed

During my stay in this department, I was briefed about the functioning of the department. The process flow of the department is given below. I spent about a week in the department and learnt that how the work is being done in the department by observing.

Employees’ Attitude

My mentor in this department was Mr. Shuja who is responsible for maintaining the MIS system. This department comprises of 2 more members Mr. Aftab & Mr. Muneeb. The people in this department also showed me the company’s MIS system. They also taught me that how the applications are submitted by the sales people and then they are placed for further checking and after full checking they are forwarded to the parent company after making copies.

Problems Encountered

I haven’t faced any problem in this department but the main reason for which I didn’t stay in this department for long was that I had not much work to do in this department. But rest there was no problem, the people their guided me with their knowledge and I spent my time their learning new things.

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OPERATIONS SALES FLOW

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Form ScrutinyData entry if

form is completed

Photo copy / Scan documents

If any discrepancy

Return to SM for completion

Received from SM after completion

Sales Submit at Sales Ops

If discrepant, return to SM/SC/TL.Log maintained

Prepare for dispatch

Acknowledgement from partner

If success MIS shared with partner

Photocopy / Scan requirement

Recommendations

Bulls & Bulls is emerging as a dynamic and a financial might. The environment is quite soothing and pleasant. I never thought for a second that I am working in a local organization. Was proud enough to wear Bulls & Bulls card and after completing my internship have a certain sense of achievement and satisfaction that I have learnt something that would be helpful in future.

I have worked out some recommendations that might be helpful in adding up the positive features and eliminating the weaknesses of Bulls & Bulls. Consider them as my humble contribution for the betterment of Bulls & Bulls.

Recommendations are:

Bulls & Bulls is a new organization yet it has grown very quickly. To further enhance the company should advertise their company more. They have a lack of identity which might hinder in getting the targets. In order to tackle this situation the company must take some steps to market their organization and make it familiar to people.

The company should higher affective call center agents who have prior experience in the same field.

The company can also advertise itself by using the internet, although they have a website but they have to make their website more attractive by placing different advertisements related to the products company sells and updates of its different ventures.

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Conclusion

As I mentioned earlier, this report is based on my internship experience at Bulls & Bulls. This six weeks internship, I am sure will definitely help in building my professional career. Other than it, I have done two more internships, one at Askari Commercial Bank and the other one at National Logistic Cell. The learning that I got and in this internship was much advanced and focused to my qualification.

The basic purpose for doing internships is to give students chance to apply their classrooms learning in a practical environment and to make them aware of the office environment. So that they don’t face any difficulty in getting themselves adjusted after their education in their respective jobs.

My purpose too was the same. But as I have done two internships, adjustment to the office environment wasn’t any problem. My sole purpose was to get myself adhere to the actual task performed by the managers. I didn’t want to do filing or photocopying or just data punching, as done by internees in other organizations or what my classmates have been doing in their internships. Luckily, this time I didn’t have to do exclusive internee’s task most of the time. This gave me ample time to learn new things like designing marketing promotions for the company. All these things, I was doing for the first time and was very much excited. My eagerness and sincerity to learn new things made my mentors keener to teach me the various things and impart new knowledge in a general perspective. Sometimes, you can’t learn things on your own nor the other person can stuff the things into one’s mind if he/she is not eager to learn. I was a bit lucky that things had gone the way I wanted to.

Also, my mentors that I got were simply superb. It’s hard to find, people like these buried under the workload and teaching someone unconditionally, knowing that they wont get any money. So above all I was very much that I got mentors like Mr. Muhammad Adil Ansari and Mr. Atif Fayyaz. Besides teaching me about the Marketing Strategies, they taught me some other relevant topics that one way or the other may affect the company’s image.

The other good thing about Bulls & Bulls being multidimensional, I got the chance to intern in various fields, just staying under one roof. I didn’t have to go to an investment companies to know about investments, I didn’t have to go to an stock exchange to know about the mutual funds. All I learnt by staying at Bulls & Bulls. For a Marketing student like me working at Bulls & Bulls was a great experience.

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APPENDIX

Bibliography

Sources of Information

www.bullsnbulls.com www.efuinsurace.com www.nji.com.pk www.alico.com.pk www.pakqatar.com.pk www.arifhabib.com.pk www.igi.com.pk www.almeezangroup.com

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