yash project
TRANSCRIPT
-
8/8/2019 Yash Project
1/67
An industrial projectreport
First year Bachelor of BusinessAdministration
The Project training
on
RIDDHI SIDDHI STEEL(INDIA).
-: Prepared by :-DELIWALA YASH K .
Guided by: Prof. SANJAY DOLAKIYA
Year : 2004-2005
Roll no. : 19
Seat no. :
Submitted to : Saurastra University
College : Vivekand college of managment&
Science
GUIDED BY
-
8/8/2019 Yash Project
2/67
Mr. SANJAY DHOLKIYA
SUBMITTED TO:-
SAURASTRA UNIVERSITY
Company certificateCompany certificate
-
8/8/2019 Yash Project
3/67
College CertificateCollege Certificate
This is to certify that yash k deliwala, a student of F
.Y.B.B.A. of vivekanand College of computer science&mangment
Saurashtra University has been carried out project work embodied in
this project report under my supervision and it is his own contribution.
Date:
Place: Rajkot
................................... ....
Prof sanjay dholakia(Head of Department) (Principal)
-
8/8/2019 Yash Project
4/67
DECLARATION
I, yash deliwala k. a student of F.Y.B.B.A. of . vivekanand
College of Commerce sciensc & managment B.B.A., Rajkot hereby
declare this project report which has been carried out successfully
under the guidance ofProf. sanjay dolakiya and staff members.
The project is based on the industrial visit to the riddhi siddhisteel india situated at metoda G.I.D.C, Rajkot. I am further declaring
that this project report is not previously submitted to any college.
Place : RAJKOT
Date :
(YASH DELIWALA.K .)
-
8/8/2019 Yash Project
5/67
Preface
In todays modern world, Market is becoming more and morecompetitive. In this crucial stage in order to sustain in market and
dominate it, it is very much important that all the resources must be
used economically and their use must be optimized. As such,
Management is making its need felt in each and every part of the world.
It is said that the art of Management is as old as human civilization.
Management is an art of getting things done through otherpeople.
B.B.A. is one such management course through which any
intellectual can acquire management knowledge through its principles
and practical application. As such without practical knowledge every
thing is useless. As such we are to prepare Project Report and take the
knowledge of working of these principles. Through this we come to
know the practical application of management principles which proves
to be very helpful in becoming a successful manager.
-
8/8/2019 Yash Project
6/67
I believe that through this project report, all the above facts
would be satisfied. I believe that my work will be satisfying and will
fulfill the requirement of the university.
B.B.A. is course in which practical aspect is an important as
theoretical aspect. Primary aim of B.B.A. is to develop effective
managers and that require industrial training as practical aspect. The
growth of economy is depends upon skilled managers and B.B.A.
course fulfills this need. The practical studies give an idea to the
student about problem they have to face in the future of their
managerial life
I have taken visit at Riddhi Siddhi (india) All informationwhich is required for this report are collected by me and submitted to
the concern person of the company.
I have gone through and study each necessary information,
which is collected and presented in this report.
-
8/8/2019 Yash Project
7/67
Acknowledgement
Through this acknowledgement I express my sincere gratitude
towards all the persons who have helped my directly or indirectly in the
preparation if this project. Without them my project work is not
possible.
First of all, I would like to acknowledge my sincere thanks to the
director of Riddhi siddhi steel (India) and all employees of company
for sparing their valuable time, personal guidance, valuable ideas, never
ending encouragement and willingness to be helpful whenever needed.
Signature
(
)
-
8/8/2019 Yash Project
8/67
Index
Particular Page No.
1)GENRAL INFORMATION
2)PRODUCTION DEPARMENT
-
8/8/2019 Yash Project
9/67
3)FINANCE DEPARTMENT
4) PERSONNEL DEPARTMENT
5)MARKETING DEPARMENT
6)FUTURE PLAN
7) SUGGESTION
8)BILLIOGRAPHY
9)PHOTO ALBUM
-
8/8/2019 Yash Project
10/67
General
Information
-
8/8/2019 Yash Project
11/67
-
8/8/2019 Yash Project
12/67
General Information
Content:
1 .HISTORY
3 BIODATA OF COMPANY
4 Location of the company
5 Size and form of organization
6 LOCATION & SITE PREFERENCE
7 Time keeping system
8 OBJECTIVE
HISTORY
RIDDHI SIDDDHI Pvt. Ltd. Was started in 1995, in METODA
G.I.D.C. Mr. D.R. Patel and Mr. Paresh P. Patel have started RIDDHI
SIDDDHI. They have started RIDDHI SIDDDHI Pvt. Ltd. with
investment of Rs.0.01 crores. In beginning time of RIDDHI SIDHHI
(INDIA) They were producing only Tapered Roller Bearing.
Now a day because of great relation and superior quality
company produce many types of bearings and original equipment of
many vehicles. And today because of excellent performance they
-
8/8/2019 Yash Project
13/67
have lots of satisfied customers in India .
There was tremendous progress of RIDDHI SIDDDHI. Ltd.
during 2004 to 1997. And they expand their business in OTHER
STATE.
-
8/8/2019 Yash Project
14/67
BIO DATA OF COMPANY
Name of company : RIDDHI SIDDHI STEEL (INDIA).
Address : Plot No. G-1410-11-12,
METODA G .I .D.C ,
LODHIKA DIST
Rajkot .
Telephone No. : 91-02827 - 287229,287268
Fax No. : 91-02827-287324
E-mail : RIDDHI [email protected]
Website :
Establishment year : 1995
Promoter : D.R. Patel,
Paresh P. Patel,
. ,
Scale of industry : SMALL scale industry
-
8/8/2019 Yash Project
15/67
Total employees : 17
Area of unit : 11,000 sq. ft.
Off day : MONDAY
Turn over : 0.9 crores
Bankers : H.D.F.C.
Auditor : A.C SHAH
-
8/8/2019 Yash Project
16/67
Location Of The Company
Location of unit is most is most important factor for company.Because company start all activity from location and growth and
development of any company is largely depend upon location.
Location must be selected after long thinking because it is lifelong
decision. Company has to consider following factors at time of
selecting location.
9 Easy availability of raw material
10 Transport facility
11 Cheap power and fuel
12 Cheap and skilled labours
13 Easy and cheap finance
14 State help
RIDDHI SIDDHI has ideal location. It is located in METODA
industrial area. Which is near to the highway and company can get
raw material, transport facility, power and fuel, labours, finance easily.
It is in G.I.D.C. area so that company can also get government help.
-
8/8/2019 Yash Project
17/67
SIZE OF THE FIRM
According to the definition given by Government of India,
the size of the industry can be divided into three main types.
15 Small Scale Organisation
16 Medium Scale Organisation
17 Large Scale Organisation
If companys investment in plant and machinery is morethan 3 crores, it is called large scale organisation.
The investment of RIDDHI SIDDHI. Ltd. in fixed assets is
of Rs. 140,000. Therefore, it is coming under the category of
SMALL scale organisation. It also uses manpower, electronic
machinery and having more than 17 workers.
Size And Form Of Organization
Size of Organization:
There are four size of business organization.
18 Small scale industry
19 Large scale industry
20Giant scale industry
-
8/8/2019 Yash Project
18/67
If starting investment of company is less than 1 crore then it is
consider as small scale industry. If it is 1 crore to 10 crores then it is
consider as middle scale industry. If it is 10 crores to 100 crores then
it is consider as large scale industry. If it is more than 100 crores then
it is consider as giant scale industry.
RIDDHI SIDDHI. was started with starting investment of 0.3
crores so that it is consider as small scale industry.
Form of Organization:
There are three type of organization.
21 Sole proprietorship
22 Partnership
23 company
RIDDHI SIDDHI Pvt. Ltd. is private limited company.
FORM OF ORGANISATION
According to the form of organisation, the organisation
can be divided as follows:
24 Private sector unit
25 Public sector unit26Joint sector unit
4 PATNERSHIP FIRM
5 CO OPERATIVE SOCIETY
In this firm, it is a PARTNERSHIP firm.
-
8/8/2019 Yash Project
19/67
Co-operative
Organisation
T ypes o f Organ isation
Sole
proprietorship
firm
Partnership
firm
Public
Sector
Private
Sector
Co-operative
Organisation
T ypes o f Organ isation
Sole
proprietorship
firm
Partnership
firm
Public
Sector
Private
Sector
-
8/8/2019 Yash Project
20/67
LOCATION ANDSITE PREFERENCE
The site of this unit is located , at METODA G.I.D.C.,
which is only 18 Kms. away from RAJKOT City. It IS
INDUSTRAIL zone with numbers of other units. It is a main
and most important part of industry has chosen very simple
and suitable location. It plays a vital role for location.
-
8/8/2019 Yash Project
21/67
Time Keeping System
Time is most important for everyone. Time never stop for any
one we should use our time properly.
RIDDHI SIDDHI (INDIA) Ltd. believes that every work should be
done in time. It believes that work which is done after definite time
period. RIDDHI SIDDHI Pvt. Ltd. is very strict as far as time is
concern.
In Turbo Bearing Pvt. Ltd. there is card system. Everyone hasto write their entry time and leaved time. General shift of company is
as under.
Morning shift : 8:00 A.M. to 12:00P.M.
Recess : 12:00 P.M. to 2:00 P.M.
After noon shift: 2:00 P.M. to 6:00 P.M.
Night shift : 6:00 P.M. to 6:00 A.M.
Morning shift and after noon shift are compulsory. And night
shift is for over time. This system is quite helpful them to count wages
-
8/8/2019 Yash Project
22/67
of employee.
-
8/8/2019 Yash Project
23/67
Objective
Each and every organization has one common objective andthat is profit. RIDDHI SIDHHI (INDIA) Pvt. Ltd. has also the object of
profit but it is in reasonable proportion. Objectives of RIDDHI SIDDHI
Pvt. Ltd. are as under.
27 To get reasonable profit
28Create more and more customers and satisfy them
29 Try to improve every next production
30Maintain international standard
PRODUC
-
8/8/2019 Yash Project
24/67
TION
DEPARTM
ENT
INDEX
-
8/8/2019 Yash Project
25/67
Sr. No. TOPICS
1 Introduction
2 Organization Chart
3 Raw Material
4 Production Process
5 Product Information
6 List of Machineries
INTRODUCTION
Production is the integral part of the manufacturing unit. Production
is the initial and part most important part of manufacturing a product. If we
want to define in simple words we can say it is a process of converting
Raw materials in to the finished goods.
Production means creation of utilities and it covers all activities fromprocurement, allocation, and utilization of resource such as labour, energy,
materials equipments and many price of the product is decided. So it is
necessary to have proper planning for the production process.
Mainly, RIDDHI SIDDHI does all the production by the help of
machines excluding packing. The machines mainly do starting from initial
stage to its last stage each and every activity. Each and every produce is
produced perfectly by taking a lot of care.
ORGANIZATION STRUCTURE
-
8/8/2019 Yash Project
26/67
Managing Director
Factory Manager
Quality control Manager
Supervision for Assembly
Workers:
31 Managing Director: The head of the company who perform the work
of running properly and efficiently with the help of the other people in
the department.
32 Factory Manager: He is the person who inspects all the work done in
the factory.
-
8/8/2019 Yash Project
27/67
33 Quality control Manager: He is the person who inspects the quality
of the product with the help of the worker in that department.
34Supervision for Assembly: The crank pin is affixed in the connecting
rod so it is one type of assembly so there is another supervision
department who check the fitting of the crank pin in the connecting
rod.
35 Workers: They are the person who works under the orders given by
all the departmental head
-
8/8/2019 Yash Project
28/67
-
8/8/2019 Yash Project
29/67
RAW MATERIAL
Raw Material is basic requirement of any factors or an industry. It
acts as a fuel, which is required to run the vehicle of production. Raw
material is an inseparable organ of production unit.
RIDDHI SIDDHI STEEL (INDIA) purchase raw material from the local
market or sometimes in the time of price rise in raw material, they buy from
outside the GUJARAT. THE RAW MATERIAL USED IS THE STEEL ,IRON
ETC
PRODUCTION
PROCESS
1)THE STEEL IS MELTED & POUR INTO THE VESSEL AND THEN
TURN INTO IT .
2)THE IT COOL DOWN AND GAVE THE SHAPE AS PER THE
DEMAND
3) THEN IT IS BEEN PACKED UNDER THE MARK OF COMPANY
Product Information
There are many products that riddhi siddhi steel
-
8/8/2019 Yash Project
30/67
(india)produces.riddhi siddhi steel produces 70 to 80 items and all
are the different varieties of bearing & diyes . They are as
follows.of different type &size.
01.Bike wheel bearing02.car front wheel bearing03.exavator bearing04.pull bearing05 down bearing
06.machinarybearing
LIST OF MACHINERIES
Machine used for production of connecting rod, crank pin and rocker
are as follows:-
36 Lathe Machine : - For turning the product37 Heat treatment plant: - For hardening of product
38 Induction Hardening Machine: - for hardening of skin of product
39 Twist band machine: - for making connecting rod straight if it is
banded.
40 Grinding machine: - For face grinding of product
41 Baker machine : - For checking size of hole of connecting rod on
baker air gauge
42 Checking R.A.Value machine :- RA [ Roughness and Analysis]
value of connecting rod and crankpin is checked
43 Stamping machine :- It is used for stamping hologram of company
-
8/8/2019 Yash Project
31/67
on finished product
44 Hardness tester machine: - For testing hardness of connecting rod
and crank pins.
45 CNC MACHINE FOR ACCURATE TURNING: - CNC machine
is fully automatic machine which is handled by the trained worker.
This machine totally automatic machine so due to this there is
accuracy in turning. This machine is used to manufacture connecting
rod. So that where big bore and small bore are machined on single
setting maintaining uniform center distance on all the pieces, with
high accuracy and finishing.
FINANCE
DEPARTMENT
-
8/8/2019 Yash Project
32/67
-
8/8/2019 Yash Project
33/67
INDEX
Sr. No. TOPICS
1 Introduction
2 SOURCE OF FINANCE
3 ORGANISATION STUCTURE
4 FINANCIAL PLANNING
5 CAPITALISATION
-
8/8/2019 Yash Project
34/67
INTRODUCTION
Finance is that administration area or set of
administrative functions in an organization which relate with
the arrangement of cash and credit, so that the organization
may have the means to carry out its objectives as satisfactorily
as possible.
Finance is the life-blood of business. We need
finance for establishing, running and also for, the expansion of
organization. It is also needed for the production of goods and
services as well as their distribution. It is available in the form
of working capital or fixed capital. It can be for short term,
medium term or long term.
Financial management is that specialized function
of general management of finance and its effective utilization
for the achievement common goal of organization. It covers
-
8/8/2019 Yash Project
35/67
functions of acquisition funds as well as its allocation the
main concern of a finance manager is the efficient and wise
allocation of funds for various uses. Thus, it is viewed as an
integral part of over-all management.
-
8/8/2019 Yash Project
36/67
SOURCES OF FINANCE
RIDDHI SIDDHI, has not faced any financial problems
since its inception.
it has introduced innovative processes in the areas of inventory
management, Finance, Marketing and Research and Development.
As a result of which the groups dependency on working capital
assistance from commercial banks is virtually nil.
-
8/8/2019 Yash Project
37/67
ORGANIZATION STRUCTURE
Organization structure finance department, structure of
finance department where the work is classified and divided is
performed by finance department. As we know finance is one of
the most essential element, all the areas are affected by financial
decisions like wages policy, inventory policy, labour policy, etc.
Here, finance manager is Mr. R patel B.O.D. takes all the financial
decisions with the help of finance manger. All the financial affairs
of every department are looked after by finance manager.
-
8/8/2019 Yash Project
38/67
FINANCIAL PLANNING
Financial planning is done to perform financial activities in
order to achieve the basic objectives. A business is started with an
aim to earn maximum profit and that to with less input. Financial
planning is done so that the sufficient quantities of funds are used
wisely.
So far as riddhi siddhi Pvt. Ltd, is concerned, its financial
planning is so sound that it can achieve its long term and short
term objectives and it is also confident of staying ahead.
-
8/8/2019 Yash Project
39/67
CAPITALISATION
The term capitalization or the valuation of capital includes
the capital stock and debt.
- A.S.DEWING
Capital is the most required thing for any business. Sufficient
quantity should be made available, not more or less. In both the
cases, no one else, but the company will be a loser. If we want a
successful business proper capitalization is necessary and a pre-
requisition. Capitalization includes both the ownership and
borrowed capital.
RIDDHI SIDDHI. Ltd, is completely a self-reliant company.
As mentioned earlier, dependency for working capital on
commercial banks is virtually nil.
-
8/8/2019 Yash Project
40/67
CAPITAL STRUCTURE
ACC to Gerstenberg, Capital structure or financial structure
of a company is the make-up or form or composition of
capitalization i.e. type of securities to be issued and the relative
proportion of each type of securities in the total capitalization. It also
includes loans, bonds, share issue reserve, etc.
Capital structure of RIDDHI SIDDHI. Ltd is perfectly
maintained. There is no shortage of capital as there are enough
capital resources whenever required. So, company has no problem
about capital structure.
PERSO
NNEL
-
8/8/2019 Yash Project
41/67
DEPARTMENT
INDEX
SR.NO. NAME OF THE TOPIC. PAGE
NO.1. Introduction.
2. Organizational Structure.
3. NUMBER OF EMPLOYES
4. RECRUTMENT &SELECTION
5. INDUCTION & PLACEMENT
6. TRANING&DEVELOPMENT
7. WAGES & SALALRYOF
ADMINSTRATION
8. PROMOTION &TRANSFER
POLICY
-
8/8/2019 Yash Project
42/67
Introduction
Personnel Management is the planning, organizing,
directing and controlling of the procurement, development,
compensation, integration, maintenance, and separation of human
resources to the end that individual, organizational, and societal
objectives are accomplished. It concentrates on the human
activities element of general management. It is concerned
primarily with manpower resource.
Personnel management is the direction and co-
-
8/8/2019 Yash Project
43/67
ordination of human relations in the business organization, thereby
obtaining maximum production with minimum of physical and
mental effort, stress and strain on the individual workers and group
of workers and without sacrificing the genuine well-being of the
employees.
Personnel Management is the recruitment, selection,
development, utilization of and accommodation to human
resources by organizations. The human resources of organization
consist of all individuals regardless of their role, who are engaged
in any of the organizations activities.
In other words, it covers all levels of personnels,including blue-collared employees (craftsmen, foremen, Operators
and labourers), and white-collared employees (professional,
technical and kindred workers, managers, officials, and
proprietors, clerical workers and sales workers).
The objective of personnel management is to attain
maximum individual development, desirable work atmosphere and
inter-personal relations, and effective moulding of humanresources as contrasted with physical resources. The essence of
personnel management is the understanding of people at work and
on the basis of the knowledge, formulating personnel policies of
the enterprise. The methods, tools and techniques designed to
secure enthusiastic participation of labour constitute the subject
matter of study in personnel administration.
A managers job at any level of hierarchy of an
organization is people and not production. He himself cannotproduce. He gets things done through the people. The function of
management is to manage (1) Managers, (2) Workers and (3) the
work. Management is mostly interested in the optimum utilization
of human capital- managers and workers.
-
8/8/2019 Yash Project
44/67
Accordingly, at RIDDHI SIDDHI Pvt. Ltd. the helm of
management is based on collective responsibilities which are
reinforced by individual hard-work and dedication by the team of
professional personnel.
Staff members at RIDDHI SIDDJHIPvt. Ltd. are given
full responsibility and liberty to express their ideas on any part of
the production. As a result all members related with organizational
management or production procedures and marketing are whole
heartedly involved in the work resulting into a perfect result.
Dedicated responsible co-operative working to achieve
the goal of success is the theme at RIDDHI SIDDHIPvt. Ltd.
Organizational Structure
-
8/8/2019 Yash Project
45/67
The above chart shows that RIDDHI SIDDHI Pvt. Ltd.
follows line organization structure as authority depends from thetop of hierarchy to its bottom level and responsibility runs from
bottom level to the top of hierarchy.
Number of Employees
The numbers of employees engaged in
different sectors of the company are as follows: -
Area Staff/Supervis
ors
Operators Worke
rs
Total
Persons
Production 1 2 4 7
-
8/8/2019 Yash Project
46/67
Quality
Control
2 0 2 4
Engineering 2 0 0
Personnel &
Administration
2 0 0 2
Storage &
Distribution
2 0 2 4
Office Staff 1 - - 1
Recruitment & Selection
Recruitment forms the first stage in the process which
continues with selection and ceases with the placement of thecandidate. Recruiting is the discovering of potential applicants for
actual or anticipated organizational vacancies. In other words, it is
a linking activity bringing together those with jobs and those
seeking jobs.
-
8/8/2019 Yash Project
47/67
Recruitment is a process to discover the sources of
manpower to meet the requirements of the staffing schedule and to
employ effective measures for attracting that manpower in
adequate numbers to facilitate effective selection of an efficient
working force. Accordingly, the purpose of recruitment is tolocate sources of manpower to meet job requirements and job
specifications.
Recruitment has been regarded as the most important
function of personnel administration, because unless the right type
of people are hired, even the best plans, organization charts and
control systems would not do much good.
In RIDDHI SIDDHI Pvt. Ltd. for workers they select
and recruit them through recognition. And mostly the workers are
available to work whenever there is a vacancy.
For administrative and office staff the company selects
and recruits the candidate through training under the other senior
staff members.
Induction & Placement
Induction is a technique by which a new employee is
rehabilitated into the changed surroundings and introduced to the practices, policies and purposes of the organization. In other
words, it is a welcoming process- the idea is to welcome a
newcomer, make him feel at home and generate in him a feeling
that his own job, however small, is meaningful and has
significance as a part of the total organization.
-
8/8/2019 Yash Project
48/67
Once an offer of employment has been extended and
accepted, the final stage in procurement function is concluded,
namely that of placement of the individual on the new job and
orienting him to the organization.
Placement may be defined as the the determination
of the job to which an accepted candidate is to be assigned, and his
assignment to that job. It is a matching of what the supervisor has
reason to think he can do with the job demands and job
requirements and what he offers in the form of the pay roll,
companionship with others, promotional possibilities, etc. A proper
placement of a worker reduces employee turnover, absenteeismand accident rates, and improves morale.
At RIDDHI SIDDHIPvt. Ltd. there is no such formal
induction and placement program carried out by their officials.
Training & Development
Training is a process of learning a sequence of
programmed behaviour. It is application of knowledge. It gives people an awareness of the rules & procedures to guide their
behaviour. It attempts to improve their performance on the current
job or prepare them for an intended job. Basic Purposes of
Training is to Increase Productivity.
-
8/8/2019 Yash Project
49/67
Training can help employees increase their level of
performance on their present assignment. Increased human
performance often directly leads to increased operational
productivity and increased company profit.
Increased performance and productivity, because of
training, are most evident on the part of new employees who are
not yet fully aware of the most efficient and effective ways of
performing their jobs.
Trainings main goal is to induce a suitable change in
the individual concerned. After ascertaining the individuals
potential, training must be provided not only for doing the presentjob but also for acquiring the desirable extra skill or knowledge for
filling higher jobs. Inexperience employees can be taught to
operate any unfamiliar equipment. Persons raised to supervisory
levels can be taught how to plan and control the work of their units
and help their subordinates.
In RIDDHI SIDDHI Pvt. Ltd. gives training to its
employees according to the job required from them. They mostlytrain their employees as per on job training.
Promotion & Transfer Policy
Promotion is generally meant the assignment of a
position of higher responsibility to an individual. Promotion can beused as a recruitment source for higher positions. This would
encourage the existing employees, providing them with motivation
and at the same time opening a source of recruitment at the lower
end of the hierarchy for outsiders.
-
8/8/2019 Yash Project
50/67
A lateral movement of an employee, not involving
promotion of demotion is described as a transfer. A transfer
therefore does not involve a material change in responsibility. As
in case of promotions, transfers are utilized to place employees in
positions where they are likely to be more effective or where theyare likely to get greats job satisfactions.
In RIDDHI SIDDHI Pvt. Ltd. the employees are given
promotion and transfer on the basis of performance and skills.
There are no frequent transfers of the employees.
Transfers are mainly internal. Employees are transferred from one
department to other.
Promotion of the employees is based on their
performance and skills.
Wages & Salary Administration
Wage & Salary Administration refers to the
establishment and implementation of sound policies and practices
of employee compensation. It includes such areas as jobevaluation, surveys of wage and salaries, analysis or relevant
organizational problems, development and maintenance of wage
structure, establishing rules for administering adjustments,
supplementary payments, control of compensation costs and other
related items.
-
8/8/2019 Yash Project
51/67
If the wages to a worker are getting on work done then
it is calculated as below: - A workers earnings can be calculated
on the basis of the following formula: -
WE=NR,
Where WE is the workers earning, N stands for the
number of pieces produced and R for the rate per piece.
Payment made to labour is generally referred to as
wages. Money paid periodically to persons whose output cannot be
easily measured, such as clerical staff as well as supervisory and
managerial staff is referred to generally as salaries. Salaries are
thus paid on a monthly basis and at times the element of incentive
is introduced in the form of commission.
Wages can be paid according to two systems. These
systems are:
46Time or Day Wage System.47The Piece-wage System.
Salaries are always paid at the end of a particular
period. Mostly salaries are paid at the end of one month.
In RIDDHI SIDDHI Pvt. Ltd. the wages and salary
administration is done in the following manner.
48Labourers are given salary. Friday is an off day for labourers& other staff members.
49All the staff members are also paid on monthly basis. Thecompany also gives salary increment every year on the basis
of performance and dedicated participation in the work.
-
8/8/2019 Yash Project
52/67
-
8/8/2019 Yash Project
53/67
Marketing
Department
Content:
50Introduction
51 Organization chart
52Advertisement
53Channel of distribution
54International marketing
55Market share & competitors
56Pricing policy
57Sales promotion
-
8/8/2019 Yash Project
54/67
-
8/8/2019 Yash Project
55/67
Introduction
Marketing is nothing but to try to people make aware aboutour product. Marketing is social and managerial process by which
individual and groups obtain what they need through marketing.
The American marketing association offers the following
definition. Marketing is the process of planning and executing
the conception, pricing, promotion and distribution of ideas, goods
and services to create exchange that satisfy individual and
organizational goals.
The marketing management represents the functional areas of
business management for the flow of goods and services from producer to consumer. It looks after marketing system of the
enterprise. Marketing management performs all managerial
functions in the field of marketing.
Marketing management is the art and science of choosing target
market and getting, keeping and growing customers through
creating, delivering and communicating superior customer value.
-
8/8/2019 Yash Project
56/67
Organization Chart
Advertisement
Advertisement is tool by which sale can be increased it is in
paid up form. Advertisement is differs from business to business.
But it is inseparable part of the business. Advertisement is one way
communication between the producer and consumer. Now a day
news paper, radio, television, hoarding etc. are media of
advertisement.
-
8/8/2019 Yash Project
57/67
RIDDHI SIDDHI. uses news paper, business magazine, hoarding
as media of advertisement. They are very conscious as far as
marketing is concert. They Spend more than 9O THOUSAND for
advertisement purpose.
-
8/8/2019 Yash Project
58/67
Channel Of Distribution
The company can not sale its goods directly to the customers,they need to create a channel to distribute goods to the customers,
and this channel is known as channel of distribution or market
channel. It is set of interdependent organizations involved in the
process of making product or service available for use or
consumption.
Marketing channel performs the work of moving goods of
moving goods from producer to consumers. It overcomes the time,
place and possession gaps that separate goods and services from
those who needed or want them.
RIDDHI SIDHHI. follows the following distribution channel
to distribute goods to the customers.
Manufacturer
Dealers
Retailers
-
8/8/2019 Yash Project
59/67
Customers
International Marketing
RIDDHI SIDDHI. Ltd. has satisfied customer in India as
well as in International Market. They sales the product in many
countries like.
58U.K.
59U.A.E.
60SPAIN
61 EGYPT
62KOREA
And in many more countries.
-
8/8/2019 Yash Project
60/67
Market Share And Competitors
Market Share:Market share means the proportion of sale of companys
goods, out of whole sale of same goods in a country, state or city.
In total sale of bearing market, sale of RIDDHI SIDHHI
Bearing is more than 0. 7% , means company have 0.7% market
share in bearing market.
Competitors:
In the market there are many companies which are producing
same kind of goods. These companies are known as competitors of
particular company.
In case of RIDDHI SIDHHI Pvt. Ltd. There are many
competitors bearing in the market like
1)TORBO BEARING
2) ABX BEARING
3) ABC BEARING
-
8/8/2019 Yash Project
61/67
Pricing Policy
Price is most important factor in a company;company should sale their goods at that price which includes all
expenses and reasonable profit. RIDDHI SIDDHI Pvt. Ltd.
includes following cost for decide the price of product.
63Raw Material Cost:
RIDDHI SIDDHI Pvt. Ltd. includes cost of raw
material in the price. They use steal as a raw material and cost
of steal are included in price of bearing.
64Process Cost:
In process cost RIDDHI SIDDHI Pvt. Ltd. includeselectricity expenses, machinery exp. Wages exp. Etc.
65Marketing Cost:
Expenses which are done for the marketing or m
selling are to be included in marketing cost. Like, advertisement
expenses, transport expenses and other selling expenses.
66Administration Cost:
Office expenses like telephone bill, stationery expenses
-
8/8/2019 Yash Project
62/67
etc. are to be included in administration cost.
Sales Promotion
Sales promotion means to efforts to increase the sale. It is
necessary today to increase the sale. It is part of marketing. In short
it is extra facilities given to the customers, dealers, and salesman.
RIDDHI SIDDHI.PVT Ltd. gives different schemes to the
customers and they give bearing in various weight, price, and size
to increase the customers and because of their efforts their sales
was increased in last years.
Details of Sale
2002-03 32,06,6202003-04 44,87,520
2004-05 77,68,370
-
8/8/2019 Yash Project
63/67
FUTURE PLANS
The future plan of the company is diversification of the industry
for bearing such as truck bearing, juicerbearing.
And they are going to manufacture a china space model, which
will be the Indias first manufacturing product, which is not firstly
prepared by any one. They are going to manufacture a new model of
bearing whose shape will be square shaped. The product will be
made from the same plant, only machinery should be bought.
-
8/8/2019 Yash Project
64/67
SUGGESTIONS67 Due to globalization competition has increased. In the
cut-throat competition of modern world, in order to become
the market leader of bearing. riddhi siddhi pvt ltd. should
advertise their products.
68 The unit should try to give best service after sales and
improve more and more quality of stove. Also should try
taking minimum price of product to customer. They should try
to appoint more authorized dealer.
69 The unit should increase the number of their salesmen so
that they can get more customer through advertisement of
salesmen.
-
8/8/2019 Yash Project
65/67
CONCLUSION
The excitement of BEARING MANUFACTURING industry
training was a unique experience for me.
These units made me aware of the working and managing
structure production procedures, marketing structure etc. The H.O.
marketing structure of this firm has guided me through out the
training. Every work in this firm very co-operative and helped me a
lot in completing this project work.
-
8/8/2019 Yash Project
66/67
BIBLIOGRAPHY
(1) Marketing Management - Philip Kotler
(2) Finance Management - I. M. Pandey
(3) Personnel Management - C.B. Mamoriya
PHOTO
ALBUM OF
THE
PROJECT
the below photo r taken during site visit
-
8/8/2019 Yash Project
67/67