chettinad cement corporation limited
TRANSCRIPT
HISTORY OF THE COMPANY:
The history of the group “House of Chettinad” is linked with the 9 decades old
saga. In 1912 took birth the house of Chettinad through a visionary idealist and born
entrepreneur Dr. Rajah Sir Annamalai Chettiar who believed in social transformation
through business. The company, which has always been striving for total quality,
possesses International certificate ISO 9002 ISO 14001 and takes pride in being
acclaimed as one of the major company played in a highly competitive cement industry in
India. The Company added another feather to its cap by installing and commissioning
against sophisticated high-tech and power efficient O & K cement in resulting in a
production to touch one million tone mark.
CHETTINAD CEMENT CORPORATION LIMITED:
Chettinad cement corporation was incorporated basically to cater to growing
demand of Cement industry. The founder of the House of Chettinad envisioned, his
companies providing the stimulus for Industrial growth and conceived business as a
means of improving the living standards of the people.
The corporate credo of the House of Chettinad – “STRIVE, SERVE and SERVE”
is the very thought of the founder of the company. Chettinad Cement Corporation
Limited is an India-based company engaged in the business of manufacturing cement.
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The Company is also engaged in diverse activities, such as manufacturing
(cement, silica, quartz and grits), services (construction, transports, steel fabrication, ship
management and stevedoring, clearing and forwarding), trading, power generation,
plantation, farms and logistics.
The manufacturing unit of the company is located at Puliyur, Karur and some
districts of Tamil Nadu. The company commenced its production in the year April 1996.
EVENTS OF THE COMPANY
1962 - The Comp. was incorporated on 11th December, in Chennai. The Company
manufactures Portland cement.
- 8,50,000 No. of Equity shares subscribed for by directors, etc. 90,000 Preference &
12,50,000 No. of Equity shares offered at par in the public in April 1965.
- The Comp. executed mining lease deeds for mining limestone and clay. The
Government also issued orders regarding the mining of gypsum.
1979 - The Comp. had taken up a Scheme for improved working of the quarry &
factory which included installation of electrostatic perceptible for kilns, captive
power plant, etc.
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1983 - Towards the implementations of first phase of the modernization scheme, a
primary crusher with a capacity of 400 tones per hour along with necessary material
handling equipment was installed.
- In continuation of first phase, it was planned to install a dry process kiln with a
capacity of 1,700 tones per day with precalciner. The plant capacity would be
increased to about 5.8 lakh tones per annum.
1988 - 21,00,000 Right Equity shares issued at par [prop. 1:1s]. Another 1,05,000
No. of equity shares offered at par to employees but only 15,850 shares taken [rest
were allowed to lapses]. Redemption date for 26,545 pref. shares extended to
25.06.1994 or after & pref. div. raised to 14% from 25th June.
1992 - With the conservation of energy as main theme, the Company undertook
modernization/expansion programme during the years 1986-89.
1993 - During the year, the Comp. achieved capacity utilization of 119% despite
unexpected heavy rains & lorry strike.
1994 - The Comp. commissioned 16 Nos. of Wind Power Generators to a capacity of
4 MW under phase I. In addition, 26 Nos. of wind power generators to a capacity of
5.85 MW were installed and commissioned in March 1995 under phase II.
- The Comp. had also taken steps to install 12 Nos. of wind power generators of 400
KW each to a capacity of 4.8 MW under phase III which was to be commissioned
before September 1995.
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- The Comp. entered into a memorandum of agreement for the acquisition of bulk
carrier of 43589 DWT in order to enter shipping business. Necessary approvals from
the concerned authorities was obtained.
- The production was hampered by unexpected heavy rains & also lorry strike.
Nevertheless, the Comp. made a substantial recovery in the last quarter of Financial
year.
- The Comp. has taken steps for installing 16 Nos. of 250KW each Wind Power
Generators for a total capacity of 4 M.W. near Poolavadi in Coimbatore District.
1995 - 42,15,850 bonus shares issued in prop. 1:1.
- The Comp. has been awarded ISO 9002 Certificate of International Organisation for
Standardisation by Bureau of Indian Standards for quality systems-model for quality
assurance in production & installation & reiterate with great pride that the Comp. is
the first Comp. in Tamilnadu to be honored with ISO 9002 Certificate in the field of
mining.
- The Comp. has taken steps to install 12 Nos. of Wind Power Generators of 400 KW
each to a capacity of 4.8 MW in the same location under Phase III. The proposed
Wind Power Generators will be commissioned before end of September with financial
assistance from IFCI.
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- The Comp. has decided to diversify its activities by entering into Shipping Sector.
The Comp. has entered into a Memorandum of Agreement for acquisition of Bulk
Carrier of 43589 DWT.
1996 - The Comp. took up a modernisation programme, considering the installation of
Stacker-cum-Reclaimer, Earth moving equipment. Primary crusher, construction of
Silos, Vertical Roller mill for cement grinding & packer.
- The Comp. has installed & commissioned 12 Nos. of 225 KW each Wind Power
Generators under phase IV in March, 96 with the financial assistance from the
Industrial Finance Corporation of India limited Totally, 66 Nos. of Wind Power
Generators for a capacity of 17.35 MW have been installed in four phases.
1997 - The cement production was significantly lower at 8.34 lakh tonnes against 9.15
lakh tonnes in 1995-96 because of slower off take in the closing months of accounting
period & the adverse effect of truckers strike in March.
- Chettinad Cements Ltd has planned to set up a new cement unit with a capacity of 6
lakh tonnes near its existing unit. This expansion will take the total capacity of Comp.
to 1.2 million tonnes per annum.
1998 - The Rs.8 crores commercial paper programme of Chettinad Cement
Corporation has been assigned a P2+ rating by Crisil.
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- The Comp. is financially strong & rates amongst the best in the industry on
operating efficiency parameters.
- Chettinad Cement Corporation Ltd has recently installed and commissioned a Onada
and Kobes cement mill to improve the quality of its cement.
- With the introduction of new technology, the Comp. has recently launched
`Chettinad Royal' 53-grade cement which had high strength & uniform particle
distribution.
- It undertook a modernisation programme & staged a turnaround in the early nineties,
supported by a strong recovery in cement prices in southern India.
1999 - The expansion involves setting up of an one million tonne greenfield project at
Palayam [a limestone belts] in Tamil Nadu about 45 km from the company existing
plant.
- Chettinad Cement Corporation Ltd [CCCs] has embarked upon a expansion
programme at its existing facility under which the capacity would increase to 1.5
million tonnes per annum from the current 0.6 million tonnes per annum.
- The Chennai-based Chettinad Cements Corporation Ltd [CCCLs] is doubling its
cement capacity to two million tonnes.
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- Chettinad Cement is one of major players in the South. Apart from cement, the
Company has interests in shipping too.
2000 - Chettinad Cement Corporation Ltd is coming out with a Rs 60-crore rights
issue to fund its one million tonne greenfield expansion plan at Palayam in Dindigul
district, Tamil Nadu.
- Chettinad Cement Corporation Ltd has priced its rights issue at Rs 32 per share. The
ratio for rights entitlement is 2:3.
- The Comp. has acquired 4,01,884 shares of Comp. by way of inter-se-transfer
among promoters.
2001
-Tamil Nadu Electricity Board [TNEBs] signs MOU with the Chettinad Cement
Corporation limited under which the board will ensure time-bound supply of quality
power to the company
-High Court orders the state government, Sipcot & the commercial tax department to
extend sales tax incentive to Chettinad Cement Corporation Ltd [CCCLs]
-Commissioned its 1.1 million tonne greenfield expansion project in Tamil Nadu at a
cost of Rs 325 crore
-Launches ready-mix concrete [RMCs] under the brand, 'Ready Mix Chettinad'
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2002
-Approves the proposal to come up with a rights issue for raising about Rs 40 crore in
the ratio of 2:5 at a price of Rs 36 each
2003
-Board of directors ratify the proposed rights issue valued below Rs 40 crore to be
used to part finance the 15-MW coal-based captive power plant that the Comp.
intends to put up
-Decides to revoke the Rights Issue
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PROFILE OF THE COMPANY:
Chettinad Cement Corporation Ltd was incorporated on 11th December
1962 and commenced cement production in the year 1968 at its first plant at Karikalli in
Dindigul district of Tamil Nadu. Incorporated in the year 1962, Chettinad Cement
Corporation Limited ISO 9002 certificate by the Bureau of Indian Standards, in 1994.
Chettinad Cement Corporation principally operates in India and the company is
headquartered at Chennai in India.
NAME OF THE COMPANY: Chettinad Cement Corporation Ltd.
ADDRESS: HO/Corp. Office
5th floor, Rani Seethai hall,
603 Annasalai
Chennai-600006
It is the first company in Tamil Nadu to be honored with this certificate, in the
field of mining. The Karur unit of Chettinad Cements has been functioning with the
highest operating ratio for any cement unit in the southern region.
In September 1994, the company commissioned 16 wind power generators near
Poolavadi, Coimbatore. In addition, 26 wind power generators have been installed in
March 1995, in the same place.
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While 12 Nos of 225 KW each of Wind Power Generator commissioned in 1995-
96. Totally 66 wind power generators for a capacity of 17.35 MW have been installed in
four phases and they are functioning well.
The project was financed by the Industrial Finance Corporation of India (IFCI)
and internal accruals. Chettinad Cement Corporation Limited has diversified into
shipping. Its shipping fleet consists of two bulk carriers viz m.v. Chettinand Tradition and
m.v. Chettinad Prince. The Second Cement plant at Karikalli, Tamil Nadu faced some
teething problem in 2002 and in 2003 the plant was successful in making it fully
operational with optimum efficiency.
During 2002-03 the comapny completed the Rights Issue of 84,31,700 equity
shares in the ratio of 2:5 at a premium of Rs. 26/- per share. The company has
commissioned a 15 MW Captive Thermal Plant at its plant at Karikalli during October
2004. Chettinad cement has attached great importance to social responsibility and
environmental values.
This manifests the installation of the latest pollution control equipment in the
plant. In accordance with the expansion plan spelt out in the earlier years, the company
inaugurated its new state of the green field cement plant in Karikkal village, Dindigul
district, Tamil Nadu in October 2001 and commenced commercial production.
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The plant has a production capacity of 0.9 million tones per annum and is
equipped with the latest technology right from the treatment of the raw materials to the
packing of the cement. With the large infrastructure projects of the government for
concretizing the national highways and rural roads, like the Golden quadrilateral and the
Grama sadak yojanaa, in the pipeline, the cement industry as well as your co looks
forward to a bright future and hopes to achieve more milestones in the years to come
PRODUCTS:
Pavithram: An unique cement manufactured at Puliyur works having
very quality for special concrete applications.
Chettinad Royal Grade 53: Superior finely ground cement, suitable for
plastering works, giving a silky finished looks. For RCC applications Laser
controlled manufacturing would yield best results.
Chettinad Grade 43: Multipurpose cement, suitable for plastering and
binding.
Chettinad PPC: A finely blended cement, providing very fine result for
plastering work, devoid of hair line cracks and giving excellent appearance to
the building.
Sulphur Resistant Cement: Finds application results in the construction
activities in the coastal areas to save from corrosiveness due to salty
environment.
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OBJECTIVES OF THE COMPANY :
To purchase, take on lease, or otherwise acquire, the undertaking business and
property or any there of any company or companies carrying on business and
manufacturers of cement and mineral industries in India or elsewhere, or any other
business which the company in entitled to carry on.
To carry on the business of miners, metallurgists, builders, contractors, engineers,
merchants, importers and exporters, and to buy sell and deal in properties of all
kinds.
To carry on investigations to discover places where cement can be profitably
made, or where any materials, minerals for any manufacturing work, the company
are entitled to carry on, can be obtained and to obtain prospecting to research work
in that behalf.
TECHNOLOGICAL CHANGES :
Cement industry has made tremendous strides in technological aspects and
assimilation of latest technology. At present 93% of the total capacity in the industry is
based on modern environment and friendly dry process technology and only 7% of the
capacity is based on old wet and semi-dry process technology. There is tremendous scope
for waste heat recovery in cement plant and thereby reducing the emission level. The
induction of advanced technology has helped the industry immensely to conserve energy,
fuel and to save material substantially.
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MEMORANDUM OF ASSOCIATION:
The name of the company is Chettinad cement Corporation Limited and the
registered office of the company will be situated in the Madras state.
The objects of the company are the following :
To produce, manufacture, purchase, refine, prepare, process, import, export, sell
and generally to deal in cement, Portland cement, alumina cement, white and
coloured cement, lime and limestone, kankar and or by-products thereof and
building materials , generally, non-ferrous, metals, ferro-alloys; and in connection
therwith, to acquire, erect, construct, establish, operate and maintain factories, mines
and quarries, workshops and other works.
To produce, manufacture, process, refine, prepare, treat, , purchase, sell, import,
export or otherwise deal with, either as Principals or as Agents, either solely or in
partnership with others, cement, alumina cement, white and coloured cement, lime,
plaster of Paris, and other building materials of all kinds, plastic and plastic goods,
glass, glass sheets, chemicals of all kinds including acids, alkalies and salts,
manures, fertilizers, dyes, paints of all kinds, caustic soda, soda ash, sulphur,
magnesite, dry-ice, calcium carbide, catechu, celotex, asbestos and other building
boards to be used in ceiling, floor or walls, made from any fibrous materials, such as
beggase, bamboo, wood, paper, jute, hemp and grasses; pottery, fire clay and fire
bricks, flooring tiles, roofing materials, etc.
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To search for ores and minerals, mine and grant licenses for mining in or over any
lands which may be acquired or held by the company and to lease out any such
lands for building or other use.
To carry on the business of an electricity producing and distributing company, to
manufacture bulbs, wires, cables, dynamos, motors, fans, stoves, batteries,
refrigerators, cells and other electrical goods, and to carry on all sorts of electric
installation work, including installation of telephones, radios, etc.
To transact and carry on all kinds of Agency business.
To pay all the costs, charges and expenses of, and incidental to the promotion and
formation, registration and establishment of the company, and the issue of its capital
including any underwriting other commissions, broker’s fee and charges in
connection there-with.
To open and keep a register or registers in any country, state or domination
wherever it may be deemed advisable to do so and to allocate any number of the
Company to such register or register.
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ARTICLES OF ASSOCIATION:
CONSTITUTION OF THE COMPANY
The regulations contained in Table ‘A’ in the first schedule to the Companies act,
1956 shall not apply to the company except in so far they are embodied in the
following Articles, which shall be the regulations for the management of the
company.
Amended as per the Order of the High Court of Judicature at Madras Dt.
21.6.2010 in the Company Petition No.108/2010.
The Share Capital of the company is Rs. 500,00,00,000/- (Rupees Five
Hundred Crores Only) divided into 50,00,00,000/- Shares of Rs. 10/- each.
The joint holders of a share or shares shall be severally as well as jointly liable
foe the payment of all installments and calls due in respect of such share or
shares.
If a member fails to pay any call or installment of a call on the day appointed for
the payment thereof, the Board of Directors may at any time thereafter during
such time as any part of such a call remains unpaid service a notice on him
requiring payment of so much of the call as is unpaid, together with any interest
which may have occurred.
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The company may, from time to time, by ordinary resolution, increase the share
capital by such sum, to be divided into shares of such amount as may be specified
in the resolution.
The instrument of transfer of any shares in the Company shall be executed both
by the transferor and transferee and the transferor shall be deemed to remain
holder of the shares until the name of the transferee is entered in the Register of
Members in respect thereof.
The company may, by ordinary resolution,
a) Convert any paid-up shares into stock; and
b) Re-convert any stock into paid-up shares of any denomination.
The Company shall, within a period of not less than one month, nor more than six
months from the date at which the Company is entitled to commence business,
hold a General meeting of the members of the Company which may be called the
Statutory Meeting.
The Company shall, in each year in addition to any other meetings, hold a general
meeting which shall be called the Annual General Meeting. The first Annual
General Meeting shall be convened within 18 months of its incorporation. The
next annual meeting of the company shall be held within 15 months from the
conclusion of the previous annual general meeting.
Extraordinary general meetings may be held either at the registered office or at
such convenient place as the Board of Directors, may deem fit.
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The quorum for general meeting is five members and no business shall be
transacted at any general meeting unless the requisite quorum is present when the
meeting is to be convened.
In case of an equality of vote, whether on show of hands or on a poll, the
Chairman of the meeting shall have a casting vote in addition to the vote or votes
to which he may be entitled as a member.
.
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DEPARTMENTATION
Department is an element of the organizing process. It is a means of dividing the large
and complex organization into smaller and flexible administrative units. It involves
horizontal differentiation of activities in an enterprise. A department is a distinct area,
unit or subsystem or organization over which a manager has authority for performance of
specified activities. It is also known as division, branch, regiment, battalion etc.
NEED OF DEPARTMENTATION
The basic need for departmentation arises because of specialization of work
and the limitation on the number of subordinates that can be directly controlled by a
supervisor. Departmentation also simplifies the managerial task of the company and
therefore ensures free mobility in the working process. It also enables each person in a
company to know his or her part to be played in the total organization. Appraisal of
managerial performance becomes feasible when specified tasks are delegated to the
particular departmental personnel.
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IMPORTANCE OF DEPARTMENTATION
Departmentation is very much essential to each and every company for
smooth flow of business. The following are some of the key factors why departmentation
is important to a company:
Increase of efficiency
Fixation of accountability
Advantages of specialization
Development of manager
Facility in appraisal and better control
METHODS OF DEPARTMENTATION
There are two methods of departmentation namely:
1. Departmentation by numbers:
An important method of organization of tribes and armies.
Success depends upon the manpower.
This method is not used in industrial department these days.
2. Departmentation by time:
One of the oldest form of departmentation generally used at lower levels
of organization.
For example : Hospitals, fire-brigade departments.
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The Chettinad Cement Corporation consists of the following departments:
Finance department
Accounts department
Sales department
Purchase department
Production department
Marketing department
Human resource department
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FINANCE DEPARTMENT :
The Finance department is mainly concerned with reporting the financial
conditions of the company. The finance department generally focuses on providing
relevant information necessary for the upper level management for decision making. The
Department plays an important role in the company and the relations between
organizational units.
It is closely cooperate with such company's divisions as Sales Department,
Administration, Warehouse, Deliveries, and Marketing Department in the fields of
payments, audit, revision, account and cash flow. The effective collaboration is the
guarantee that all payments, accounts and deposits will be processed, covered and closed
out. This is important as proper organization of the finance system inside the company
brings the positive and fundamental effect to the company's competitiveness, demand and
reputation.
Accounts of various departments are maintained at the registered office. The
Finance Department is responsible for the financial functions and activities of the
company. The main goal of the Department is to provide the internal and external users
of financial statements with relevant, accurate and timely information and to guarantee
that the required financial revision is closely adhered to in order to protect the assets of
the company.
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The Department takes care of finance flow to ensure that the company operates
within its financial regulations and satisfies various external financial requirements The
following are some of the important functions of the finance and accounts department:
Monitor the expenditure on projects.
Monitor the non- funds based objectives.
Manage the long-tern obligation.
Advance tax computation deduction of tax at source and filling return with the
income tax authorities.
Meeting the working capital facilities with the banker.
Submission of balance sheet date of preparation of annual budget.
Preparation of budget, appropriation of accounts, re-appropriations, surrender and
savings.
Control of expenditure and ways & means position.
Audit
Treasury administration
Administration of Taxes i.e. Sales Tax, Entertainment Tax, Luxury Tax and Entry
Tax etc
Service Conditions including Freedom Fighters Pensions.
Resource mobilization through loans, Institutional Finance, Small Savings, Credit
and Investment and public debt.
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Financial concurrence and advice.
Contract, recovery and refund of revenue
To provide strategic financial support regarding operational and general business
planning
To provide daily financial services functions
To meet and surpass the internal and external needs and financial reporting
requirements of the company at large
The Vice president whose responsibility is to arrange for funds from various
sources at the right time to meet the financial requirement of the company heads the
finance department.
The department arranges funds by borrowing from banks for working capital,
short term requirements by getting term loans, cash credit, short term loans from other
agencies, interim corporate loans and by other methods. This department audits the
accounts of the company.
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ACCOUNTS DEPARTMENT:
The Accounts Department (AD) a key department of the company, it manages
the company’s finances and monitors the use of allocated funds for different schemes. It
plays a major role in the formulation of the budget.
The Accounts Officer (the post is unfilled currently and a Superintendent holds
charge) is responsible for supervising all financial transactions related to the company,
advising the Secretary on all internal financial matters, maintaining records of financial
receipts and expenditure in accordance with the purpose and utilization of funds,
reporting deviations in utilization of funds in any of the approved schemes, assisting the
company in budget preparation, maintaining accounts regarding stamp duty surcharge
and State grants, maintaining petty cash book and general cash book and attending to
audit requirements and other such accounts-related duties.
The Accounting Department is also responsible for internal audit of all bills for
payment, audit clearances, preparation of annual financial statements and the demand,
collection and balance statement.
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The following are some of the functions of the accounts department:
Maintenance of books by data entry
Checking and passing the bills of supplier for the payment
Preparation of payroll
Sales register
Cash and bank books
Daily cash tally and withdrawal
Bank reconciliation
Drawing monthly trial balance
Deduction of tax at source and deposit in the treasury
Preparation of annual accounts
Distribution of pay cheques.
SALES DEPARTMENT:
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The sales department has an important role in publishing companies. It is well
worth taking time to understand how it works. This is the department which will have a
crucial effect on the sales of your book. Their involvement and support are key to its
success. The activities of the sales department and the purchase department must be
coordinated for smooth running of the business concerned. There should be constant
communication in between these departments.
The sales department is responsible for persuading the consumer to purchase the
end product, manufactured through marketing’s research. The Sales Department’s selling
strategy could involve mail shots, travelling sales representatives, telephone sales and
devising the sales interview. The organization of the sales department will depend, of
course, upon the size of the company and the nature of the business.
The sales team records to whom the organization has sold its products, when and
for what price they were sold. This data will come from the sales order. They may also be
responsible for defining these output products.
Since the ultimate purpose of the company is that of sales, the sales department is
rightly recognized as one of the major departments of the business.
The following are some of the functions of the sales department:
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Attract and retain customers
Coordinate sales activities
Increasing the sales volume
Help the marketing department in meeting the sales volume forecasted by
them
Motivate the sales person
Provide appropriate training to the sales person
Analyze the demands of markets
Study customer’s psychology
Be aware of market fluctuations
Prepare sales budgets
Explore new market and the process is recycled ie attract and retain
customers etc.
PURCHASE DEPARTMENT:
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A purchase department is found in almost all the companies now a days. The very
word “purchase” indicates that the company is procuring something for the welfare of the
same. The company sets certain amount of money for purchasing the materials required
by the company for running their business. With that amount the purchase department
manages to acquire all that the company needs. Large companies create this department
in order to save on costs of supplies needed to run the day-to-day operations.
The main duty of the purchasing department is to supply every other department
with the material needed to perform the tasks required. The purchasing department has a
lot of documentation to maintain and file as a part of its job requirements. Those
documents include paperwork from other departments asking for material or products
needed to operate.
Most purchasing departments utilize what is called a purchase order when ordering
products and services. This order is used by the accounting department so the company
that supplied the material can get paid. Most companies utilize the purchasing
department to advice them on an expansion or planned projects.
The department is a valuable tool when this process begins. It can advise on the
cost of materials along with supplying a projected cost to complete the projects.
The following are some of the functions of purchase department:
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To buy at the right time, right price and right terms
Ensuring the continuity of supply
Selection and evaluation of suppliers/vendors
Aware of long-term and short term effects
Preserving and enhancing reputation of company
Aware of all supply options
Maintain stock level
Obtaining and analyzing quotations of vendors/suppliers
Interview representatives and correspondence
Deciding best buying terms and conditions
Negotiating and checking contracts
Scheduling orders and following up
Disposing of surpluses
Other activities like assisting with preparation of material
expenditure/purchasing budget.
PRODUCTION DEPARTMENT:
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The main role of production department is to turn inputs (raw materials)
into outputs (finished goods). Outputs refer to a finished product or service and inputs are
the materials that are needed to manufacture certain goods.
When a business completes this process they are able to achieve customer
satisfaction by producing products that are ready to be used and fit for purpose.
The production department is responsible for ensuring quality achieved in each
item produced. They will need to carry out inspections and implement suitable quality
initiatives. This is one of the major duties of this department because if mistakes are
made on products, customer satisfaction will be decreased or if products are ruined
during the production process it means that the company will have to throw "bad"
products away (creating waste).
Both aspects will lead the company to a loss of profit. Quality assurance will have
to be carried out everyday on a number of occasions to ensure that the production process
is working efficiently and effectively.
The following are some of the functions of the production department:
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Buy raw materials
Creation of product
Customer service
Forecasting
Flow analysis
Check the quality and quantity of the product
Maintain the equipments and machineries
MARKETING DEPARTMENT:
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The marketing department must act as a guide and lead the company's other
departments in developing, producing, fulfilling, and servicing products or services for
their customers. Communication is vital. The marketing department typically has a better
understanding of the market and customer needs, but should not act independently of
product development or customer service.
Marketing should be involved, and there should be a meeting of the minds,
whenever discussions are held regarding new product development or any customer-
related function of the company. It is very important that the marketing department get
input from many people within the company. Not only does providing input help the rest
of the company understand and support the marketing efforts, it also provides some
invaluable insights into what customers want and new ideas that may have slipped past
the rest of the company.
The marketing department studies the market and the customers, determines the
best way to reach those customers, and works with the rest of the company to help
determine the new product needs of the market and represent the company in a consistent
voice.
The following are some of the functions of the marketing department:
Development of marketing goals and strategy
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Conducting marketing research and monitoring customer needs
Promotion and advertisement
Managing customer relations
Concentrating on customers
Researching customer’s habits
Identifying customer’s needs
Analyzing customer’s reactions to advertisement
Collaborating with market place
Researching new markets
Managing budgets
Tracking competitor’s activity
Conducting advertising campaigns
Forecasting sales
Analyzing sales
Reporting sales
Online promotion
HUMAN RESOURCE DEPARTMENT:
A Human Resource Management Department is responsible for an
interdisciplinary examination of all staff members in the workplace. This strategy calls
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for applications from diverse fields such as psychology, paralegal studies, industrial
engineering, sociology, and a critical understanding of theories pertaining to post-
modernism and industrial structuralism.
The department bears the onus of converting the available task-force or hired
individuals into strategic business partners. This is achieved via dedicated Change
Management and focused Employee Administration. The HR functions with the sole goal
of motivating and encouraging the employees to prove their mettle and add value to the
company.
This is achieved via various management processes like workforce planning and
recruitment, induction and orientation of hired task-force and employee training,
administration and appraisals. The Human Resource Department deals with management
of people within the organization. There are a number of responsibilities that come with
this title.
The following are some of the functions of the human resource department:
Forecasting
Maintaining personnel inventories
Succession planning
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Modeling career paths
Recruitment
Selection
Training
Orientation
Devising programs
Primary skills training
Advanced skills training
Promoting diversity
Job analysis
Job evaluations
Wage surveys
Performance reviews
Improvement of compensation packages
Planning in the organization
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