Management studies are like a coin, which has two sides, one is theoretical knowledge and other is practical knowledge. A classroom teaching gives the theoretical knowledge while industrial training gives an opportunity to take knowledge of practical aspects. In this era of globalization where every moment the world is moving one-step ahead, so for a management student practical knowledge has become a key to success. According to our syllabus prescribed by BHAVNAGAR UNIVERCITY, I have finished my practical study.
With a great zeal and gaiety, I put this report before you. I have presented information of four subjects according to S. Y. B. B. A. syllabus. This report is reflecting of which I understood and studied in this report and how I collected the information. I have tried my level best to present information regarding NAVBHARAT STEEL RE – ROLLING MILL. For this purpose I had visited “NAVBHARAT STEEL RE – ROLLING MILL” at Sihor, near Bhavnagar. ACKNOWLEDGEMENT I am very glad here to submit my project report.
I have presented a report on STEEL RE-ROLLR MILL industry and I have put my best efforts to prepare it in a realistic manner and include all necessary information, which can give a clear picture of STEEL RE-ROLLING industry management. I am very thankful to all the senior executives and other staff members of NAVBHARAT STEEL RE – ROLLING MILL to give me very well support, co-operation and help me with whatever was needed in my project. And how can I forget my respective principal Miss. Shilpamadam Bhatt and our project guider Miss.
DHRUTI PANDYA of “Swami Sahajanand College of Commerce and Management” to provide us with this very important training, which develops management skill in us. I hope this report will give a realistic and clear picture of STEEL RE-ROLLING industry management. Thanks once again to everyone who has directly or indirectly helped me through this training and prepare this report. NAME: DHRANGADHARIYA DHAVAL K. CLASS: S. Y. B. B. A. ROLL NO: 246 (TWO FOUR SIX) C o n t e n t |SR NO. PARTICULAR |PAGE NO | |1 |GENERAL INFORMATION |6 | |2 |HUMAN RESORCE MANAGEMENT |22 | |3 |MARKETING MANAGEMENT |43 | |4 |FINANCE MANAGEMENT |55 | |5 |BIBLIOGRAPHY |73 | [pic] [pic] C o n t e n t |SR. |PARTICULAR |PAGE | |No. | |No. |1 |INTRODUCTION |8 | |2 |History And Development |9 | |3 |Profile of the company |10 | |4 |Size of the unit |11 | |5 |Form of the organization |12 | |6 |Manufacturing products |14 | |7 |Manufacturing process |15 | |8 |Organization structure |18 | |10 |
Time keeping system |20 | |11 |Employee Service |21 | INTRODUCTION I ave completed my industrial training in NAVBHARAT STEEL RE -ROLLINGS MILL for the practical knowledge as part of management and general information of the industry, in that HUMAN RESORCE MANAGEMENT, MARKETING MANAGEMENT, FINANCE MANAGEMENT & BIBLIOGRAPHY. NAVABHARAT STEEL RE – ROLLING MILL has improved its goodwill by increasing quality of products. NAVBHARAT STEEL RE – ROLLINGS MILL is one of the fastest growing and Moving Consumer Goods (FMCG) & Over the Counter (OTC) product manufacturing company in market. It has also given tough competition on local market as well as in state market. NAVBHARAT STEEL RE – ROLLING MILL products are sold under highly competitive conditions. It offer handsome returns to their distributors & stockiest with grace. A Rolling Mill is a machine for factory shaping steel by passing it between ROLLING.
This company’s product is used by infrastructure development and engineering unit which is initials above the development of any of the nation for economical development. So, it is clear that the unit have bright future. The company manufactures these products that are as under, . M. S. FLAT BAR . M. S. ANGLE BAR . M. S. ROUND BAR . M. S. SQUARE BAR HISTORY & DEVELOPMENT OF THE UNIT N AVBHARAT STEEL RE – ROLLING MILL Established in the year 1994 having the purpose to manufacturing various products of steel bars. The production of the company has started with the help of single rolling mill is that with 7 stands with and also with well furnished.
Than, in the year, 1999-2000 company has installed another set of machinery with further develop with the production of M. S. Angle, M. S. Flat, Square and Round Bar and also produce various sizes bars like 6, 8, 10, 12, and 16. Initially production of the unit was 4000 increased capacity the company has got ISI mark and ISO 9001-2000 certificates. PROFILE OF THE COMPANY The NAVBHARAT STEEL RE ROLLING MILL, the main & register office is in Bhavnagar. This unit has not separate zonal office. |NAME |NAVBHARAT STEEL RE-ROLLING MILL | |ADDRESS FACTORY |SURVEY NO. 68/1 | | |RAJKOT- BHAVNAGAR HIGHWAY | | |SIHOR – 364 240 | | |DIST. BHAVNAGAR (Guj. ) | |ADDRESS OFFICE |12, SAGARDEEP | | |LOKHAND BAZAR | | |BHAVNAGAR. 364001 | |MANAGING DIRECTOR |BHAGIRATHSINH SARVAIYA | |PRODUCTION HEAD |AJAYSINH | |BANKER |STATE BANK OF SAURASTRA | |PHONE NO. |(O)3014758,3014241 (W)(02846)223283 | |ACCOUNTING YEAR |1-APRIL TO 31-MARCH | |WEB SITE |WWW.
NAVBHARATSTEELRE-ROLLING. ORG | |E-MAIL ADDRESS |[email protected] COM | |COMPANY LOGO | | |QUALITY BECHMARK |[pic] | SIZE OF THE UNIT & FORM OF THE ORGANIZATION Size of the unit means, how much the investment of company and how much the turnover is. According to Indian government rules or say policy, this is recognizing by the government.
There are mainly 3 types (scale) of industries: 1. SMALL SCALE: – Investment is up to Rs. 100lakh. 2. MEDIUM SCALE: – Investment is between Rs. 100lakh – 150lakh. 3. LARGE SCALE: – Investment is more than Rs. 150lakh. According to Indian government rules NAVBHARAT STEEL RE ROLLING MILL is small-scale industry, because the investment is more than Rs. 100lakh. FORM OF ORGANISATION There are various types of organization structures are as under. that is directly under the control of the minister Form of organizations means whether the company is Sole Proprietor Firm or Partnership Firm. Here NAVBHARAT STEEL RE ROLLING MILL is a Partnership Firm.
The reason to choose the Partnership Firm is the investment; is not to be done by only the single person and also an idea is not of the one person. According to Indian Partnership Act 1932, “When two or more persons make an Agreement to start a business & share profits & loss of the business can stated as Partnership Firm. ” As NAVBHARAT STEEL RE ROLLING MILL is a Partnership Firm it produces so many products and it is not possible in Sole Proprietor Unit. CHART MANUFACTURING PRODUCTS NAVBHARAT STEEL RE ROLLING MILL producing main four types of bars M. S. Angle, M. S. Flat, M. S. Square & M. S. Round bar this is in various size produced by the company. MANUFACTURING PROCESS N
AVBHARAT STEEL RE – ROLLING MILL Pvt. Ltd. are produce so many products like M. S. Angle bar, M. S. Flat bar, M. S. Round bar & M. S. Square bar etc… the process of manufacture steel by RE-ROLLING MILL is understand very deep and stage wise explain as below. 1) Purchase Raw Material 2) Cut the plat 3) Give hit at high temperature 4) Passing the rolling 5) Packing 1) Purchasing Raw Materials:- The basic requirement is purchasing raw material for manufacturing the products. The basic raw material is M. S. Billets, M. S. Ingots, M. S. Bar IS: 2830 is over basic raw material. 2) Cut Plates :- Purchased raw materials have been cut in the required size and weight.
If it has not being cut in the fixed size then the out put of bar is not match to desired size if we are going to sale that product then no any value of it. Hence, in market accuracy of size of bar must be required. 3) Furnace the Plates :- That cut plates are heated up to the required temperature in chamber running by lignite coal. From the hot metal, that is easy to make bar by rolling. We can give easily shape to the bar from metal alloy. 4) Passing into Rolling :- The hot metal is then entered into rolling stand where rolls are fitted according to the required size and type of the final product. 5) Packing :- After passing through the six rolls which are fitted in the rolling mill established accordingly we get the required size of final product.
After that final product has been prepared as the workers take the weight and cut that bar in accurate size and weight, after that the workers are going to pack the product for selling to the retailer. They paint any of the colour at the bottom and tide up a strip of company looking like a tag to give attractive look. This is the marketing scheme. Moreover it is note that this process is carried out under supervision of three experienced persons. The entire process is being repeated in the same time table. This process has been shown in the chart. So, this can be easily understood. CHART OF MANUFCTURING PROCESS ORGANIZATION STRUCTURE G enerally, the organization structure mainly depends upon the size & the form of the company.
The organization structure of NAVBHARAT STEEL RE – ROLLING Mill’s organization structure is very good. The NAVBHARAT STEEL RE ROLLING MILL Organization structure is divided into three levels. ? Top level ? Middle level ? Lower level ORGANISATION CHART TOP LEVEL: TOP LEVEL MANAGEMENT mainly consists of Board Of Director, Chief Executive, Managing Director Etc… They manage the whole business unit & take decision about right policy, business promotion, legal provision & all liabilities of a business unit. They also look after Human Resource Management, Marketing Management as well as Finance Management of company. In NAVBHARAT STEEL RE-ROLLING MILL Company in Top Level Bhagirathsinh G. Sarvaiya. He is director of the company.
MIDDEL LEVEL: MIDDLE LEVEL MANAGEMENT is the link between the Top Management & The Lower Management. It consists of function like production, sales account & personnel officers. They are experts of specific field and try to accomplish work by preparing programs for different section. In NAVBHARAT STEEL RE ROLLING MILL, the Middle Level Management consists of finance head, production head, and sales representative. LOWER LEVEL: Generally, BOTTOM LEVEL MANAGEMENT of Jobbers, Workers, Foreman etc… These people are important to the company as they are persons who produce the different products of the company, which the company producing on the Large Scale.
In NAVBHARAT STEEL RE ROLLING MILL industry, the Bottom Level consists of many workers who take the guidelines from Middle Level, who is instructed by the Top Level. The following chart shows the organization structure of the company. TIME KEEPING SYSTEM Time keeping system is very important for each and every person organized for any small or large scale unit. It is basic requirement of all units. If we want to be success in our business we need to be very time punctual system. The organization can obtain there goal if they are working in a time system set by the firm. Time is very important in business and also our life one times its goes than they never return. In the same way NAVBHARAT STEEL RE ROLLING MILL is very strict in this matter. The manager director of the unit is very onscious that he reaches in time. So, its employees and workers needs to reach at firm in time or before time but should not be late. The unit has been runner in a single shift only but if the demand of product is increased and if they are to be sent earlier than they go for two shift also. The regular shift is only one shift and the time is 10:00 P. M. To 6:00A. M. It does not allow to workers, visitors or trainees to enter without the permission of higher authority and they keep attendance register for the record of its employees. The employees have to signed into that register when they enter in NAVBHARAT STEEL RE ROLLING MILL and when they leave the unit.
The attendance register has been checked by the manager and it any loop poles are there they are rectified and checked upon. EMPLOYEE SERVICES I n any industry, employees plays an important role for running business successfully. It is a well known proverb or also well provides that “If you manage your employees, employees will manage your firm”. Employees work in lower level management, but if they are not in business then company are not going to produce any product. It is, therefore necessary for manager to give much attention to the employee. The management should provide better service to the employees. If employees work better and do more work in the company their efficiency and morale become high.
The Company has to provide various types of services to their employees. If a manager gives much attention on employees they will give fully attention in the business and the result is the more profitability as business increases. Employee services means to take care of the employees. if we see the most of entrepreneur’s history, who achieves the success they take care of their employees for E. g. Dhirubhai Ambani used to meet all their employee & ask them about improvemnent so that all his employee would feel good & part of his business. NAVBHARAT STEEL RE – ROLLING MILL Give various benefits provided to the workers for their welfare. There are no fixed uniform for workers.
During special occasion and festival, the workers are provided with a lump sum of money. ? The company is providing facilities for first-aid and medical services. ? The company is also take insurance of every employee. ? If in any case any employee needs drawings company provide it. ? Company also provides provident facility. ? On Diwali festival they distribute sweets to all the employees. ? On Uttrayan festival they distribute threat and kites to the employees. ? Company also gives tea coupon in certain limits. ? They give extra bonus to some worker’s if they had done a good work. C O N T E N T |SR NO. |PARTICULAR |PAGE NO. |(1) |Introduction |24 | |(2) |definition of human resource management |25 | |(3) |Organization of human resource management |26 | |(4) |Recruitment and selection |27 | |(5) |Training and development |30 | |(6) |Job description |31 | |(7) |Promotion & transfer policies |32 | |(8) |Performance appraisal system |34 | |(9) |WAGES & SALARY |35 | |(10) |WORKING OF E. S.
I SCHEME |37 | |(11) |PROVIDENT FUND SCHEME |38 | |(12) |GRIEVIENCE HANDLING AT NAVBHARAT STEEL RE-ROLLING MILL |39 | |(13) |COLLECTION BARGEINING & AGREEMENT |40 | |(14) |TRADE UNION |41 | |(15) |Personnel record |42 | INTRODUCTION H man Resource Management is process of bringing people and Organization together it tries to secure the best people from group of people by winning their whole hearted for co-operation. In short, it may be define as the art of developing and maintaining competent work force to achieve the goal of an Organization in an effective manner. Now a day for any company, it is important that personnel department should effectively developed. Effective development of personnel department helps the organization to accomplish the goal of the unit and its success. Without co-operation of the people achieve met of goal cannot be done. Personnel department deals with the planning organizing directing and controlling the human resource. There is a famous proverb that “MIND YOUR MEN AND MEN WILL MIND ALL OTHER THINGS”.
For getting the best out of people they must be managed well. This is where human resource management (managers) plays at critical role in bringing gaps between employee expectations and organizational needs by adopting appropriate human resource strategies and practices. NAVBHARAT STEEL RE ROLLING MILL is havening a human resource department in which the manager tries to understand the problem of the employees. It tries to motivate its employees to work in a better way and with full energy. They try to maintain unity with the employees. Definition of Human Resource Management: A ccording to Decenzo and Robbins, “HRM is concerned with the people dimension in management.
Since every organization is made up of people, acquiring their services, developing their skills, motivating them to higher levels of performance and ensuring that they continue to maintain their commitment to the organization are essential to achieving organizational objectives. This is true, regardless of the type of organization government, business, education, health recreation or social action. ” “Human resource management is a management function concerned with hiring, motivating, and maintaining people in an organization. ” “Human resource management is a process which brings people and organizations together so that the goal of each one is met effectively and efficiently. ” ORGANIZATION OF PERSONNEL DEPARTMENT P rsonnel management is concerned with people at work and their relationships with each other. It may be defined as a set of programs, functions and activities designed to maximize both personnel and organizational goals. It ensures that the organization attracts and hires qualified, imaginative and competent people. It involves the establishment of various policies to deal with employees and to retain them. To this end, it lays out the rules regarding working conditions, designs appropriate compensation plans, and strengthens employer employee relations. “Organization is a group of people working together co operatively under authority towards achieving goals and objectives that mutually benefit the employees and the organization. In the NAVBHARAT STEEL RE ROLLING MILL they have well organized personnel department. Their organization is functional type and well the decisions in formations come from upper level. It means top to bottom. It can be under stand by the chart. RECRUITMENT AND SELECTION PROCESS Recruitment, selection and induction are very important part of the human resource management. + Recruitment:- “Recruitment is a process to discover the sources of manpower to meet the requirements of the staffing schedule and to employ effective measure for attracting that man power in adequate number to facilitate effective selection of an efficient working force. ”
No fix qualification is required for the recruitment of the workers, because generally physical labour work is carried out by them. Recruitment has been regarded as the most important function of the personnel administration, because if a right people is not selected than also the firm will not be able achieve their goals or target. Managerial work is carried out by the supervisor, assistance and the management directors and to some extent by the executive director. so the supervisor is recruited by the managing director itself. NAVBHARAT STEEL RE ROLLING MILL has to recruit other persons through following reasons: 1. If somebody recommends or obliges anyone then he is recruited 2. If a person has special skills for the job then he is recruited. 3.
If employees believe that there will be a shortage of employees in Future they will recruit employees in advance. Selection:- Selection is a negative process. It is of the process of differentiating application in order to identify those with greater likelihood of success in a job. It is related with securing relevant information about an applicant. Selection is a process of determining the qualifications, experience, and knowledge creativity decisiveness for the particular job. In NAVBHARAT STEEL RE ROLLING MILL the selection and recruitment is done internally hence they do not have to give any advertisement in the news paper and also there is no chance for calling people from outside. In NAVBHARAT STEEL RE ROLLING MILL selection process is as follow: ) First to all they take those people who are in contact with NAVBHARAT STEEL RE – ROLLING MILL employees and mostly the children’s of employees are taken. 2) The selection committee will take their personal interviews and if they pass the final interviews will be taken. 3) They see their qualification, age, eligibility etc… 4) Then the selected person will be given his joining date and his time and his work will be showed. Induction:- In simple word induction means introduction the new employees are given general information about the management and the work to be undertaken by him. In other word induction means when a new employee is been employed than he has been awareness about his work and rules and regulation.
In NAVBHARAT STEEL RE ROLLING MILL the head of the department does the induction program. He shows the new employee his job specification its duties and responsibilities. The supervisor is given the authority to help the employee and teach him his work with cool and mind and he tries to motivate the new employee to achieve the targeted goal of the firm. In the introduction general information rules his work job description are given to the workers. The new employees are made familiar with other employee’s supervisor his superior subordinate etc. TRAINING AND MANAGEMENT DEVELOPMENT T he newly recruited employee needs training and some basic information about his work.
It is a process of teaching the new and present employees. The basic skill they needs to effectively perform the job it is the process that tries to improve skills or add to the existing levels of knowledge so that employees is better equipped to do his present job or a higher level job. It is a learning process and experience that seeks a relatively permanent change in an individual that will improve his order ability to do the work. Training is a short term process utilizing a systematic and organized procedure by which non-managerial personnel acquire technical knowledge and skills for a definite purpose. It is for a short duration, and is for a specific job related purpose.
While development is long-term educational process utilizing a system and organized procedure by which managerial personnel learn conceptual and theoretical knowledge for general purpose. Definition of Training:- “Training is the systematic modification of behavior through learning which occurs as a result of education, instruction, development and planned experience. ” (Micheal Armstrong) In the same way NAVBHARAT STEEL RE ROLLING MILL gives training to the new recruited people and tries to explain their work in a very easy way. The new employees are given training under the higher authority people who have experienced and knowledge. JOB DESCRIPTION J b description provide both organizational information means location, structure, authority and functional organization/information means what the work is job description describe job not job holders. Job description is not an assessment, it provides an important base for establishing assessment standard and activities and objectives. Job description mainly related with management level only. With the help of job description the managers can get information about job title, range, department, job duty, reports submitting, location of job, objectives of job, job responsibility, authority or limitation of decisions, job environment etc… It is the written statement.
The objective of a job the work to be performs the skills to be needed responsibility to be involving the relationship of the job to the other job etc… Definition of Job Description A job description is a broad statement of a purpose, scope, duties and responsibilities of a particular job. Job description is the written summary of the given job, of the various rights, responsibilities and organization relation. Job description defines job division, duties and responsibilities which help to keep away the specific job to other job. In NAVBHARAT STEEL RE ROLLING MILL Company they have a completely written document of job description and perfect implementation also. Therefore work for the manager is being very easy and comfortable. PROMOTION & TRANSFER POLICY A) Promotion :-
Promotion is the way to motive an employee but this motivation must be on certain strong base. The basic criteria on which employees are promoted are as under. ? It consider seniority of employee ? Qualification opinion ? Supervisor’s opinion towards employee ? Performance of employee ? Extra efforts of work The term promotion may be explaining an up word advancement of an employee in an organization to another job which commands better pay, better status, and higher opportunity, responsibility, and authority better working environment hour’s rank. In NAVBHARAT STEEL RE ROLLING MILL there is the policy to give promotion on the basis of performance & experience.
The organization believes that efficiency of the employee increase along with time and experience. At the same time quality of work and performance approved is also taken into consideration. In the company worker has promotion to increment salary bases so he do work efficient way. B) Transfer :- A transfer is a horizontal of lateral movement of an employment from one job, department shift plant of position to another at the same or another place where his salary status and responsibility are the same. Transfer is the movement of employee from position to other. Usually involving and marked change is the duties responsibilities skill needed or compensation.
In NAVBHARAT STEEL RE ROLLING MILL there is no transfer policy in the unit as it is only one production site so there is no question of transferring employee. Some employee transfer internally For E. G. :- from one department to other. This is also when some adjustment is to be done regarding the running of some equipment or adjust the employee who are on leave or are absent. C) Demotion :- Demotion refers to the lowering down the studies, salary and responsibilities of and employee. It is used as a measure where there are services branches of duty on the part of an employee when if is after a preliminary to a dismiss it defines as “The assignment of an individual to a bob of cover rank and day usually involving lower level of difficulties and responsibilities. ”
In NAVBHARAT STEEL RE ROLLING MILL recruitment and selection are done very carefully and promotion is also given after same measurement so there is no caution of demotion. In this industry demotion is happened in very rare case. PERFORMANCE APPRAISAL SYSTEM T o appraise is to asset the work or value in the content of individual organization. Performance appraisal is the systematic evaluation of personnel by the supervisor of those familiar with their performance appraisal is the systematic way of judgment the relative work of an employee in performing their task performance appraisal has many different dimensions. It is the feedback process as well as an emotion process.
NAVBHARAT STEEL RE ROLLING MILL performance appraisal system which helps its employees to overcome some times they are given bonus or some token for their good performance. The procedure for performance appraisal is as follows: Established performance standard Communication of performance expectations to employees Measures actual performance Compare actual performance with standards Discuss the appraisal with the employees Initiate corrective actions In NAVBHARAT STEEL RE – ROLLING MILL having a well managed performance appraisal of its employee. Each and every department head is given deviation to work discipline, quality of work, co-operation etc… WAGES AND SALARY T ere is big difference in salary and wage; wage is what paid to the workers who are employed on the contract base. While the salary is paid to the employee of the company like, Executive Directors, Managers, and Supervisors etc… + WAGE:- ?Method of Wage Payment :- In NAVBHARAT STEEL RE ROLLING MILL, wages and salaries are distributed on the 5th of every month and if any employee wants salary in advance, company’ll give advance salary in between the Date of 1st to 15th of the month. Time department keep watch on the each & every labour by taking regular attendance. It is their duty to hand wage sheets. There are some rules & regulations for wage system. + SALARY:-
At NAVBHARAT STEEL RE ROLLING MILL, personnel department of metro office does recruitment and they give joining sheet to new employee. On that basis P&A department at GCW give employee code number and P. S. No. (Pay Sleep Number) After that, they enter new entry in master file, which contains employee’s name, address, P. S. No. , Department, designation, date of birth and other information. Time office keeps attendance of all employees on daily basis and based on that they make monthly report about attendance. This is used in preparation of payment sleep. Monthly they deduct 12% of P. F. and directly transfer to head office. Working of E. S. I. scheme E. S.
I is an abbreviation of employee state insurance scheme. This is compulsory for the company. According to the “employee stat insurance act 1948. : E. S. I scheme is applicable on those companies in which there are more than 20 workers working according to factory act; this scheme covers those employees who have salary less than RS. 7500 per month. This scheme provides them health and sound benefits of this scheme. Under this scheme employees have to contribute 1. 75% of their total salary while the company contributes 4. 75% of their total salary. That total amounts that is 6. 25% are sent at E. S. I. head office in Ahemdabad. PROVIDENT FUND SCHEME A cording to provident fund act 1952,” Provident Fund means collection of money from the salary of employees and it will be paid at the time of retirement, disablement or any other occasion. This scheme was started in 1962 and spread in all the industries. Any company having more than so workers can joint this scheme. ” In NAVBHARAT STEEL RE ROLLING MILL all the permanent employees come under this scheme. Employees’ provident fund is deducted according to the rules and regulation of the company and this amount is deposited as contribution to provided fund in employees’ personal account. This amount is paid to employee for any special occasion like marriage disablement or operation as a form of loan.
The NAVBHARAT STEEL RE ROLLING MILL also follows provident fund act. It provides the provident fund on government rules in present scenario is 12% provident fund is given and this company is given this provident fund to its employees. GRIEVANCE HANDLING PROCEDURE G rievance handling procedure is used to solve the disputes between employee and employee or employer and other employer. When the dispute arises between employees it is settled by grievance procedures. Company uses various methods to solve the disputes. In NAVBHARAT STEEL RE – ROLLING MILL there is no specific treatment for the grievance. It means if the problems is occurred, the officer take out the solution of this.
COLLECTIVE BARGAINING AND AGREEMENT C ollective bargaining is the resolution of industrial problem between the representative of employer and freely designated representative of employees acting collectively with a minimum of government dictation. Collective bargaining is an essential element of economic democracy is a ‘Two Party’ procedure to arrive at mutually agreed solution. IN NAVBHARAT STEEL RE – ROLLING MILL, try to provide their level best to fulfill worker and management. NAVBHARAT STEEL RE – ROLLING MILL industry provides many facilities to their worker. Here the whole work is do manual so there is on major problems create between worker and management. TRADE UNION T ade unions are voluntary organizations of employees or employers formed to promote and protect their interest through collective action though he terms employees and employers are used when we say trade unions. They generally refers to employees trade union must be, 1) A combination of workers or employers 2) Such a combination could be permanent temporary 3) Could include federation of two or more unions 4) To regulate relations or among employers In the NAVBHARAT STEEL RE ROLLING MILL relation of the staff member workers is like family member they are only 70 to 80 workers. They work with co-operation. So here there is no trade union. PERSONNEL RECORD A ecord is piece of writing or a chart which provides ready information and which preserves evidence for feature reference or use records provides tangible evidence of the past activities of an organization. It also provides the information relating to various aspects of human resources of an organization viz. wages and salary productivity social security absenteeism employee welfare, job satisfaction etc… In NAVBHARAT STEEL RE – ROLLING MILL personnel department maintains a wide range of records consisting details information about each every aspects of organization. This firm adopts computer system as well as manual system for keeping all the data about employees.
In NAVBHARAT STEEL RE – ROLLING MILL the personnel records of all the employees are maintain through personnel department. Such as. ? Name and addresses of employees. ? Telephone no. Of employees. ? Name of parents. ? Date of joining. ? Designation and nature of work. ? Salary and allowances rate. ? Monthly attendance, leave and salary position. ? Service disciplinary action report. ? Remarks. So, personnel record is a very essential part of the every organization. Through the personnel record the management can know all the things of employee. . [pic] C o n t e n t |SR NO. |PARTICULAR |PAGE NO. |(1) |INTRODUCTION |45 | |(2) |ORGANIZATION OF MARKETING DEPARTMENT |46 | |(3) |PRODUCT PLANIING |47 | |(4) |MARKET SEGMENTATION |48 | |(5) |PRICING POLICIES |50 | |(6) |CHANNELS OF DISTRIBUTION |51 | |(7) |ADVERTISEMENT |53 | |(8) |MARKETING RESEARCH |54 | INTRODUCTION M arketing is one of the most important parts in the management. Marketing is done to make its product familiar to the customer. Marketing means the creation and delivery of standard of living. It is social and managerial process by which individuals and groups obtain what they need and want to create after and exchanging products of value with others. It also means working with market of actualize potential exchange for satisfying human needs and wants.
The goal of marketing is to create customer satisfaction profitability by building valuable relationship with important customer marketing is very essential for all the firms whether manufacturing companies, whole seller, retailers and other individuals. Definition of Marketing:- “Marketing is the process of planning and executive the conceptions pricing, promotion and distribution of ideas, goods and services to create exchange that satisfy individual & organization goals. ” -As per AMA (American Marketing Association) ORGANISATION OF MARKETING DEPARTEMENT O rganization of marketing department defines the authorities, responsibilities of the employee of the department. In the NAVBHARAT STEEL RE-ROLLING MILL the head office of the marketing is in 5, city centre Kalanala Bhavnagar. But the unit’s market is spread in the all over India.
So we can say that authority and responsibility of marketing department very high. ORGANIZATION CHART OF MARKETING DEPARTMENT PRODUCT PLANNING P roduct planning means, “Introduce a new product in the market other word it is adding a new product to existing line of the company. ” The products may be as per the needs and the requirements of consumers or may be introducing due to a technological and development new product developments. A new product development is different from product innovation or product modification. In any company they follow customer oriented product planning process union is as follow 1) Idea generation 2) Idea screening 3) Concept testing ) Business analysis and market share analysis 5) Actual development of new product 6) Test marketing 7) Commercialization Every unit requires some sort of planning for their product. In NAVBHARAT STEEL RE-ROLLING MIL. they use following parameters. 1) Market survey 2) Quality of product 3) Market research 4) Study of competitor’s and competitor’s product 5) Market testing 6) Satisfaction MARKET SEGEMENTATION A market segment consists of a group of customers who share a similar set of needs and wants. There are many bases of market segmentation the four main bases are as follow 1) Geographic segmentation 2) Demographic segmentation 3) Psychographic segmentation 4) Behavioral segmentation
The market for any product is normally made up of several segments. A “Market” after all is the aggregate of consumers of a given product and consumers who make a market are seldom homogeneous, they very in their characteristics and buying behavior. It is thus natural that many differing segments occur within a market. Advantage of market segmentation as under 1) Facilitates proper choice of target market. 2) Facilitates effective lapping of the market. 3) Helps divide the markets and convert them NATIONAL LEVEL MARKETING “NAVBHARAT STEEL RE ROLLING MILL” is having a market for its product in all the major states of the country and they have appointed to their customers.
They cover all the parts of India here are the few parts where the company acquires maximum sale Gujarat, Maharashtra, Madhypradesh, Hariyana, Bihar etc. INTERNATIONAL LEVEL MARKET “NAVBHARAT STEEL RE ROLLING MILL” has created a good reputation for its product even in foreign countries like Nepal, Iran, Iraq, and Malaysia etc. NAVBHARAT STEEL RE ROLLING MILL has its market spread widely. Here market segmentation is base on geographical, sales and customer needs. It has many dealers in India. They are to increase sales and profits. PRICING POLICY P rice is the amount of money changed for a product or service or the sum of the value that customers exchange for the benefits of having or using the product or service. Price has been the major factor affecting buyer choice.
However in recent decade non price factor have become more important in buyer choice behavior TOTAL PRICE = Production Cost + Administration Cost + Taxes + Profit Company decide price policy with help of following pricing method ? Cost-based pricing ? Demand based pricing ? Competition-oriented pricing ? Value pricing ? Product line oriented pricing ? Tender pricing ? Affordability-based pricing ? Differentiated pricing At the time of making decision regarding price NAVBHARAT STEEL RE – ROLLING MILL keeps in mind following factors. 1) Price of raw-material 2) Cost of production 3) Competitors price 4) Condit ability in market 5) Wages, salary and liabilities of employee 6) Government direct and indirect taxes 7) Advertising expenses ) Sales tax and professional taxes 9) Municipal octroi and land and building taxes Interest of capital investment CHANNELS OF DISTRIBUTION D istribution channel or marketing channel is a set of interdependent organizations involved in the process of making a product or service available for use or consumption by the consumer or business user. Direct Marketing Channel:- A marketing channel has no any intermediary level. Indirect Marketing Channel:- A channel is containing one or more intermediary levels. Customer marketing channel 0-level 1-level 2-level3-level ManufacturerManufacturerManufacturer Manufacturer Wholesalerwholesaler Jobber Retailer Retailer Retailer
ConsumerConsumerConsumerConsumer DIRECT Channel INDIRET Channel NAVBHARAT STEEL RE ROLLING MILL follows this indirect channel of distribution. ADVERTISEMENT A dvertising is the way of communication with the people. The people can get the information, knowledge of the product with the help of advertisement. It is the world of neck to neck competition in the market. All the companies want to sale their product is big scale in the consumer market. For this reason advertisement is the most important tool. Advertisements are for all products new products as well as current or existing products. It is being more effective at Deepings brand loyalty.
Advertising is also employed to promote the bright image of the company in the minds of people. Peoples get attracted towards the advertisement of the product. The NAVBHARAT STEEL RE ROLLING MILL Company uses the advertisements to attract the buyers. The company uses mass production and mass sale of the TMT Bars. The main way of advertisement of the iron bar is internet. The company has to advertise the bars in all over the glob; therefore print media is not sufficient, therefore they have to advertise through net. This company creates his own site and in that he put all the information about his product for running and any new product is going to launch in future. He has put all his information on the web-site.
So, any retailer or consumer want to purchase his product, he can open the site and can take the information then he can contact to the company. His contact number and address has been existed on the web site. So, it is ease to give the order to the company, and the effective way is that “one person says to another person because this company’s status is very good”. MARKETING RESEARCH M arketing to marketing association “marketing research is the systematic gathering, recording and analysis to data about problem relating to the marketing goals and servicing”. Market research is a management tool that involves the top management to learn more about the appropriate “marketing most”. It is the intelligence ervices of the industry capable of furnishing ideal solution to different marketing problem that arise in day to day business. Marketing research is the systematic squirting, recording and analyzing of data problem relating to the marketing of goods and services. It is collecting data then analyzing data and then put out in classification. NAVBHARAT STEEL RE ROLLING MILL also does market research to know their customers requirement and their need. It is also done to know the changes in the taste and preferences of the customers. As we know that research is also done to the needs and the demand of their product in the market. [pic] . C o n t e n t |SR NO. |PARTICULAR |PAGE NO. |(1) |INTRODUCTION |57 | |(2) |ORGANIZATION OF FINANCE & ACCOYNT DEPARTMENT |58 | |(3) |leverage |59 | |(4) |CAPITALIZATION |60 | |(5) |CAPITAL STRUCTURE |62 | |(6) |MANAGEMENT OF FIXED ASSETS |64 | |(7) |MANAGEMENT OF WORKING CAPITAL |65 | |(8) |RATIO ANALYSIS |67 | INTRODUCTION F inance is lifeblood of any institute or business. Finance is the wheel to which one can generate and direct its business of the achievement of the organization goals. Proper management of finance department forms the base to increase the profitability.
In business, cost to create and maintain a product is in the hand of businessman. In competitive era sales and profit are not in the hands of entrepreneur. “Money is the soul and of coarse the blood of any share of business. ” Financial Management means procurement of the fund at minimum cost and time from the various sources and its development in the business activities for the smooth and successful running of the business. Financial Management is an integral part of the overall management of the firm. The important of finance function depends largely on size of the firm. Finance management includes different types of financial decision, liquidity decision that decides the fortune of any business.
In NAVBHARAT STEEL RE – ROLLING MILL responsibility is on the head of finance manager. He has to take so many decisions related to the finance. The finance manager has to the great care to deal with financial matter. ORGANISATION OF FINANCE AND ACCOUNT DEPARTMENT T o Raise finance at a right time and to utilize it most efficiency are primary function of financial management. Basically all finance function are same in all types of business organization. i. e. in sloe proprietorship firm with small size all function in a medium size firms finance department is created in a large size business unit however a clear and detail division of finance function is made. n NAVBHARAT STEEL RE ROLLING MILL is developing unit there finance function is handle by MR. BHAGIRATHSINH G SARAVAIYA and his two assistance MR. KANAKSIH AND MR. RAJENDRASINH organization structure of the company is not large which is show as under. The organization chart of finance department is as under: LEVERAGE I n very simply words, the term leverage measures relationship between two variables. In financial variable over some other financial variable. In financial analysis, generally three types of leverages may be computed. +Operating Leverages: – It measures the effect of change in sales quantity and operating capacity on Earnings Before Interest and Taxes (EBIT). It is computed as:
Sales-variables cost Operating Leverage= ———————————————- Earnings before interest and tax +Financial Leverage: – It indicates the firm’s ability to use fixed financial charges to magnify the effects of changes in EBIT on the firm’s EPS. It indicates the extent to which the earning before interest and tax (EBIT) It is computed as: EBIT Financial Leverage = ——— EBT +Combined Leverage: – The combined effect of operating leverage and financial leverage measures the impact of change in contribution on EPS. It is computed as: Combined Leverage = Operating Leverage x Financial Leverage. Leverage analysis is not applicable in NAVBHARAT STEEL RE-ROLLINGS MILL CAPITALISATION F inance manager has to decide what amount is required.
This decision includes estimation of total fund required by a business unit. The total requires. This decision includes estimation of total fund required by a business unit. The total amount of capital and revenue expenditure of a company is estimated and on that basis what fund is required as estimated. This is called capitalization. The word capitalization can be define as sum total of all kinds of long terms securities at there par values. Thus it can be interpreted as the sum of ownership capital and borrowed capital it also includes surplus. “Capitalization is the total accounting value of the capital stock, surplus in whatever form it may appear and long term debts”. Capitalization includes amount of capital to be raised, the securities through which it is to be raised and his relative proportion of various classes of securities to be issued and also the administration of capital”. There is no specific time of analyzing the problem of capitalization. It is not like that at time of promotion of a company the capital problems causes. It can be carried at any time during the life of a company. Generally, there are 3 types of capitalization. Capital is one part of Capitalization Share capital = Equity Share Capital + Preference Share Capital Capitalization = Share Capital + Debenture Capital + Long Term + Borrowing + Free reserves Capitalization is been divided into 3 parts ) OVER CAPITALIZATION :- Whenever the aggregate of the par valued of shares and debentures out standing of a company exceeds the true value of its fixed assets the company is said to be over capitalized. 2) UNDER CAPITALIZATION :- Reversing the concept of over capitalization under capitalization refers to the excess of have value of assets against par value of share and debentures. such cases of under capitalization are very rare. 3) FAIR CAPITALIZATION :- It refers enough finance according to its requirement no less to its requirement than it is called fair capitalization. NAVBHARAT STEEL RE – ROLLING MILL Is near to fair capitalization. CAPITAL STRUCTURE T e two principal sources of finance for business firm are Equity share, Preference share and Debentures. The combination of these three sources is known as “Capital Structure” of the business unit. The combination leads to maximum value of firm is known as the optimum capital structure. Thus capital structure refers to the composition of capital. (1) Equity Share Holder:- Equity share holders are the owners of the business. Equity share may be regarded as the backbone of capital structures of a company. Equity shareholders are the real risk bearers of company’s business, this share do not carry out special right in respect of dividend of return of capital in the event of the winding up of the company.
They get dividend only after the debenture holders and preference share holders have received their specified return similarly they rank last in their claim of the assets of the companies, in case of liquidation after all other debts and preference share capital are real risk bearers of the companies business. (2) Preference Share Holder:- Preference shares are kind of high bride security containing features of date and equity share. In the event of liquidation preference share holders claim on assets comes after creditors but before ordinary shares. Usually this claim is restricted to face value of the share. According to Indian co. act 1956 preference share is that which has following 2 preference share right. ) Preference share holder should be paid dividend before equity share 2) At the time of liquidation preference share capital is return before equity share capital is return before equity share capital is return. Company can issue various types of Preference Shares. A) Participating preference shares B) Non participating preference shares C) Cumulative preference shares D) Non cumulative preference shares E) Convertible preference shares F) Redeemable preference shares G) Irredeemable preference share (3) Debentures:- Debenture is not a part of share capital of a company. It is a security by which a company borrows money from general public or from financial institution.
When a company need money for long period but it is hope ful of being able to return money it issues debentures. By issuing debenture the company borrow money from public. The company issues debenture certificate to the person who purchase the debenture. Thus debenture is an instrument threw which a company acknowledges the debt. NAVBHARAT STEEL RE ROLLING MILL is Partner Ship Company so the company is not issued any Equity, Preference and Debenture MANAGEMENT OF FIXED ASSETS T here are 2 types of assets in each business organization i. e. fixed assets and currents assets both types of assts are to be managed efficiently and as to earn maximum profit with minimum possible investment Fixed assets of company are the permanent capital of company.
It helps in production process and used for long period hence proper management of fixed assets is very important for every company measure consideration should be given and that is why decision regarding fixed assets that to be used over a long period navbharat steel re – rolling mill has very big amount of fixed assts which are has under |Sr. No. |Fixed assets |Amount in Rs. (Approx) | |(1) |Land |25 lacs | |(2) |Building |30 lacs | |(3) |Machinery |60 lacs | |TOTAL Rs. |115 lacs | MANAGEMENT OF WORKING CAPITAL W rking capital management involves deciding upon the amount and composition of current assets and how to finance these current assets. The lower the amount of working capital level maintained the more the risk of running business and more will be the profitability + There are two types of working capital like 1) Gross Working Capital :- Gross working capital indicates the liquid position of the firm. It helps the management to look for permanent sources for financing its working capital. 2) Net Working Capital :- Net working capital indicates the liquid position of the firm it helps the management to look for permanent sources for financing its working capital need.
CASH MANAGEMENT Cash a liquid and assets is the basic input required to run the business. It includes cash and near cash assets like c both cash management is concerned with the managing of cash flows into and out or within the firm. The basic objective of cash management is to reduce the operating cash requirement to the minimum possible extent without affecting the routine transaction. In NAVBHARAT STEEL RE ROLLING MILL petty cash book is managed and most of the transaction is done by cash. INVENTORY MANAGEMENT Management of inventory assumes importance due to the fact that investment in inventory constitutes one of the major investments in assets.
The objective of inventory in order to facilitate efficient and smooth production and sales operation and sales operation and also to minimize investment in inventory to maximize profitability. In management of inventories in NAVBHARAT STEEL RE – ROLLING MILL, the record of inventory is maintained of factory premises according to rules and regulation. RECEIVABLE MANAGEMENT Receivables or book debt is created by the trade and arises out of credit transactions. The basic objective of receivables or credit. Management is to maximize the value of the firmly obtaining optimum volume of sales by controlling the cost of credit and keep it at minimum. RATIO ANALYSIS R atio analysis is a powerful tool of financial analysis.
A ratio is defined as the systematic use of the ratio to interpret the financial statement so that the strength and weaknesses of a firm as well as its historical performance and current financial condition can be determined. Also it can be said as “the indicated quotient of two mathematical expressions and as “the relationship between two or more things”. In financial analysis ratio is used as the benchmark for evaluating the financial position and performance of the firm. The relationship between two accounting figures expressed mathematically is known as a financial ratio. + Classification of Ratios :- 1. Revenue Statement Ratio A) Gross Profit Ratio
B) Operating Ratio C) Expenses Ratio D) Net profit Ratio E) Stock Turnover 2. Balance Sheet Ratio A) Current Ratio B) Liquid Ratio C) Quick Ratio D) Proprietary Ratio E) Debt-equity Ratio F) Capital Gearing Ratio G) Long Term Debt (1) Revenue Statement Ratios:- (A) Gross Profit Ratio :- This Ratio gives the information about gross margin of profit realized in the company. Gross Profit Gross Profit Ratio = ————————– X 100 Sales (B) Operating Ratio :- By this Ratio we will get information about how much total margin of expenses realized in business.
Cost of Goods Sold + Operating Expenses Operating Ratio = ———————————————————– X 100 Net Sales (C) Expense Ratio:- This Ratio gives information about how much margin of expenses out of Total Sales. Expense Expense Ratio = ————————- x100 Total Sales (D) Net Profit Ratio :- By this Ratio we will set the information of net margin of profit realized on sales. Net Profit Net Profit Ratio = ————————— x 100 Total Sales (D) Stock Turnover:- This Ratio gives the information about how many times stock becomes change in a year. Cost of Goods Sold Stock Turn Over = —————————–
Average Stock Cost of Goods Sold = Sales – Gross Profit Cost of Goods Sold = Operating Stock+ Purchase+ Expense for Purchase – Closing Stock (2) Balance Sheet Ratio:- (A) Current Ratio :- This most widely used Ratio shows the proportion of current assets to current liability. It is also known as “Working Capital Ratio” as it is a measure of working capital available at a particular time. The ratio is obtained by dividing current assets by the current liability. Generally comfortable Ratio is 2:1 Current Assets Current Ratio = —————————— Current Liability
Current Assets = Closing Stock + Cash & Bank Balance + Debtors + Bills Receivables + Prepaid Expenses + Out Standing Income + etc… Current Liability = Creditors + Bills Payable + Bank Overdraft + Out Standing Expenses + Provision for tax + Proposed Dividend + Provident Fund + Gratuity + etc… (B) Liquid Ratio:- A variant of a Current Ratio is Liquid Ratio or Quick Ratio which is design to show the amount of cash available to meet immediate payment. It is obtained by dividing Liquid Assets by Liquid Liabilities. Liquid Assets are obtained by deducting stock-in-trade from Current Assets. Stock is not treated as l Liquid Assets because it can not be readily converted into cash as when required. If the Liquid Assets are equal to or more than Liquid Liabilities, the condition may be considered as satisfaction. Generally standard margin of this Ratio is 1:1 Liquid Assets
Liquid Ratio = ——————————– Liquid Liabilities (C) Acid-Test Ratio:- This ratio gives the information regarding actual liquidity of the company. Ideal ratio is 0. 5:1. Quick Assets Acid-test ratio = ————————— Liquid Liabilities (D) Proprietary Ratio:- The Ratio shows the proportion of the proprietor’s fund to the total assets employed in the business. The proprietor’s funds or share holders ‘Equity consists of share capital and reserves and surplus’. The higher the ratio, the stronger the financial position of the enterprise. Proprietor’s Fund
Proprietary Ratio = ————————— Total Assets (E) Debt Equity Ratio:- This Ratio is only another form of Proprietary Ratio and establishes relationship between the outside long term liabilities and owners fund. It shows the proportion of long term external equities and internal equities i. e. Proportion of funds provided by long term creditors and that provided by shareholders or proprietors. Long term liabilities Debt-equity ratio = ————————————- x 100 Share holders funds (F) Capital Gearing Ratio:- This Ratio expresses the proportion of preference capital and ordinary capital.
In other words, it is ratio of fixed dividend gearing capital to ordinary capital. Sometimes, even debentures are included along with preference capital. The higher this is ratio i. e. the greater the proportion of Preference Capital and Debentures to ordinary capital. Fixed Interest Bearing Capital Gearing Ratio = ———————————————————– Ordinary Capital (G) Long Term Funds to Fixed Assets: The fixed assets of business must be purchased out of fixed capital only. This includes share capital, reserves, and long term liabilities. This ratio, therefore, shows the relation ship between fixed capital and fixed assets.
Long Term Fund Long Term Funds to Fixed Assets Ratio: = ———————————– Fixed Assets NAVBHARAT STEEL RE ROLLING MILL Company do not give any financial information. So, we do not calculate the Ratio Analysis sums. B I B L I O G R A P H Y GENERAL INFORMATION Web site:- www. navbharatsteelreROLLING. org E-mail :[email protected] COM |BOOKS | |SUBJECT |AUTHOR | |+ HUMAN REASOURCE |Prof. Udai Parikh C. B. Mamoria, S. V. Gankar, Himmalya Publishing | |MANAGEMENT: |house, Mumbai. |+ MARKETING |Philip Kotler, Gary Armstrong ‘Principle Of Marketing | |MANAGEMENT:- |Management’, 11th edition, 2007, New Delhi. | |+ FINANCIAL |Prof. S. P. Shah, Dr. Paresh Shah, Dr P. K. Priyam, Dr. Hitesh | |MANAGEMENT:- |Shukla, ‘Finance Management’. , 1st Edition 2002-03 | ———————– [pic] SCALE Small Scale Industry Medium Scale Industry Big or Large Scale Industry Total investments up to Rs. 100 Lakh Investment is Between Rs. 100 Lakh to 150 Lakh Investment is more than 150 Lakh FORM Sole Proprietorship Private Limited Company
Co-Operative Partnership Public Sector Unit Only One Owner Minimum 2 & Maximum 20 Minimum 2 & Maximum 10 Minimum 2 & Maximum 50 Minimum 2 & Maximum 100 PURCHASING RAW MATERIAL (M. S. Billets/ M. S. Ingots, M. S. Bars) Breaking Plates in Required Size Pieces of billets & Ingots heated in furnace at required temperature Hot pieces of Metal entered in to rolling mill stand After passing hot pieces of metal through rolling mill stand For Achieving Final Product & Packing TOP LEVEL MIDDLE LEVEL BOTTOM LEVEL President Marketing manager Distributor Dealers CHIEF ACCOUNTANT ASSISTANT A/C MANAGER ACCOUNT MANAGER ASSISTANT ACCOUNTANT FINANCE MANAGER Manufacturer