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INTRODUCTION
1.1 INTRODUCTION
An organizational study is the systematic study about how people - as
individuals and as groups - act within organizations. It involves the study of the
structure and functioning of its departments. Organizing is one of the important
functions of Management. Almost all the organizations are different but they have
certain common features. All are collection of people, linked together by formal and
informal relationships. They have hierarchical orders that are engaged in co-operative
activities and they all have identical boundaries. So the study of people in organization
is important for future managers. Structure of an organization is very important for its
functioning and growth. It provides the basic frame work for its progress and
expansion. For future managers, it is imperative to study the organizational structure
and functioning of successful organization so that they as future managers may guide
organizations towards success and profitable functioning.
This study was conducted at forest industries Travancore limited. It is a Kerala
government company established in 1946. This study enables me to get more
knowledge regarding the various departments of the organization and their functions as
well. The project on organizational studies at forest industries help me to know how
carefully each department is helpful for the smooth functioning of the organization.
1.2 SCOPE OF THE STUDY
The study can be helpful to understand the production and the methods used for
the preservation.
The study helps to understand different management activities.
The study helps to understand the various functions of each department.
It help to identify the factors needed for motivating employees.
Get an insight of the business concern.
To understand the history, growth profile structure and future plans of the
organization.
To understand the hierarchy structure followed in the organization.
To conduct a SWOT analysis.
To determine the function and procedure of various departments in the
organization.
To interact with the manager at different levels and know their responsibilities
1.5 METHODOLOGY
Data required for the study has been collected from the primary and secondary
source. Primary data is collected through methods like observation and interviews with
personal manager, technical and non-technical workers, clerk, labors, etc.. Secondary
data is collected through various other sources like journals, magazines, books.
PRIMARY SOURCES
The primary data was collected through the personal interview and interaction
with the workers in the organization and also physical observation.
SECONDARY SOURCES
The secondary source included;
Organization manuals.
Official records.
Annual records.
Departmental manuals.
Official website of the company.
The data collected from companys departmental manual added key information to this
report and helped to understand the process carried out by each department in details.
CHAPTER 2
INDUSTRIAL PROFILE AND COMPANY PROFILE
2.1 INDUSTRY PROFILE
INTERNATIONAL SCENARIO
The global furniture market can be broadly categorized into four categories domestic furniture, office/corporate furniture, hotel furniture and furniture parts.
Globally, domestic furniture accounts for 65 per cent of the production value, whilst
corporate/office furniture represents 15 per cent, hotel furniture 15 per cent and
furniture parts 5 per cent According to a World Bank study, the organized furniture
industry is expected to grow by 20 per cent every year. A large part of this growth is
expected to come from the rapidly growing consumer markets of Asia, implying
significant potential for growth in the Indian furniture sector.
The worldwide furniture industry promises significant growth opportunity in
near future as the global economy and worldwide real estate industry is booming at the
present moment. The growing disposable income is also driving the growth of the
worldwide furniture industry. The furniture industry includes manufacturing of a wide
range of home furnishing products and designed interiors related to offices, households
and institutions.
The furniture market in developed countries like the US and Europe was
heavily affected by the economic turmoil in 2009, but the market registered growth in
2010. The furniture market in the emerging countries like China and India has a
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significant growth opportunity in near future. The market in the emerging countries is
expected to drive the growth of worldwide furniture market in the future.
The growth in the world economy, real estate industry, and urbanization is
driving the growth of the worldwide furniture industry. Low cost furniture producers
like China, Vietnam are playing a significant role in the competitive landscape of
furniture industry. The furniture producers are focusing more on retailing their products
to attract new customers. However, scarcity of skilled labor, transportation, and cost
optimization continues to be significant challenges to the furniture industry.
The report analyzes the global furniture market with focus on US, UK, France,
India, and China. The drivers, trends and challenges for the industry have been
analyzed. The report also profiles the major companies with a discussion of their key
business strategies.
By combining SPSS lnc.'s data integration and analysis capabilities with our
relevant findings, we have predicted the future growth of the global furniture market.
We employed various significant variables that have an impact on this industry and
created regression models with SPSS Base to determine the future direction of the
industry. Before deploying the regression model, the relationship between several
independent or predictor variables and the dependent variable was analyzed using
standard SPSS output, including charts, tables and tests.
part of this industry, approximately 85 per cent is in the unorganized sector. The
remaining 15 per cent comprises of large manufacturers, such as, Godrej & Boyce
Manufacturing Co. Ltd., BP Ergo, Feather]ite,Haworth, Style Spa, Yantra,
Renaissance, Millennium Lifestyles, Durian, Kian, Tangent, Furniture Concepts,
Furniturewala, Zuari, Truzo, N R Jasani& Company, V3 Engineers, PSL Modular
Furniture, etc.
The range of indigenous furnit ure available in India, includes both residential
and contract system furniture. Manufacturers in India usually use a three-tier selling
and distribution structure, comprising of the distributor, wholesaler and retailer. The
market is mainly concentrated in A, B and C category cities (the top 589 cities). A and
B type cities together constitute 33 per cent of the total market. With a healthy
economy and increased household and institutional spending, the market is growing
steadily. As with the global market, home furniture is the largest segment in the Indian
furniture market, accounting for about 65 per cent of furniture sales. This is followed
by, the office furniture segment with a 20 per cent share and the contract segment,
accounting for the remaining 15 per cent.
MAJOR WOOD BASED INDUSTRIES ARE
2.2COMPANY PROFILE
HISTORY OF THE ORGANIZATION
Forest Industries Travancore, a Kerala government company established in the
year 1946, is engaged in manufacture of wooden furniture and joineries (windows,
doors, ventilators etc). It is located at Thaikkattukara, near Aluva which is 15 km north
of Kochi and 2 km south of Aluva by the side of National Highway 47.
Forest Industries Travancore limited (F.I.T) was incorporated on 10th August
1946, under the Travancore companies act of ME 1114 with the object of exploiting
and selling timber and other forest product from the malayattoor division and
elsewhere in the state of Travancore.
FIT is a Kerala government undertaking under the Department of Industries. It
is registered under register of companies and registered as a SSI unit. The unit became
a Kerala government company in the year 1960. The unit was originally the agency of
the FACT for producing wood from Kerala forest department but since 1962, FACT
change of their process and therefore the FACT related operations were discontinued
from 1963.
From then onwards FIT's main activity is wooden furniture manufacturing to
meet the needs of government of Kerala and commercial sectors. FIT is the only
government owned company in Kerala solely engaged in manufacture of wooden
furniture and joineries. It's main strength is its half a century long reputation of
maintaining consistently superior quality of products both in durability and finish.
The initial authorized capital was Rs. 1 core made by share of Rs. 10 each. But
the authorized capital was revised to 50 lakhs by a special resolution passed on 31 st
Dec. 1957.
The Companies Act 1956 was made applicable to the company by special
resolution passed at the annual general meeting held on 27th June 1960.
MISSION OF THE COMPANY
The main mission of the company is to supply qualified furniture and joineries
at competitive price to customers ensuring customer satisfaction. It is concerned about
environmental and safety of the company.
VISION OF THE COMPANY
Improving and sustaining healthy living conditions through conservation of
biodiversity, protection of environment, soil, water etc. and empowering forest
tribes, woman and other weaker section of the society through scientific,
transparent and responsible methods.
OBJECTIVE OF THE COMPANY
The main objectives of the Forest Industries Travancore Limited are..
To improve the safety measure s and provide best working condition in the
plants.
To upgrade the machineries
HIGHLIGHTS
The company always has an attention to adopt and accept modern technologies
in its plants. They introduce several innovations and modernizations schemes to
achieve higher productivity and energy conservation environmental control and
economy inputs. The company markets their product with a view to profitability.
FIT has no subsidiaries, branches etc... They have only one office at
Thaikkattukara, Aluva. They only the monopoly in this field.
PRODUCT PROFILE
The Forest Industries (Travancore) limited was established in 1946, is only
government owned company in Kerala exclusively engaged in the manufacture of
wooden furniture and joineries.
Over the last six decades, FIT has done its part quite efficiently to provide high
quality furniture at reasonable rate. State of the art, high precision machinery and a
highly skilled work force ensure that their product attain the best possible quality.
Apart from wooden furniture, FIT also manufacture steel furniture, does custom
interiors, aluminum /steel fabrication, modular work stations for corporate civil/
electrical works etc.
FIT has a wide range of home furniture and decor solutions to provide the
warmth and comfort of a relaxed family life. The range includes: Sofas, Cabins,
Telephone stands, Centre table, Corner stand etc..
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MANAGEMENT OF FIT
There are eight member team of board of directors to manage FIT. The
managing director of the company looks after the day to day affaires. The executives at
different levels help the MD in carrying out his work smoothly. There are directors to
assist chairman and managing director. The directors also include those nominated by
the government of Kerala.
TRADE UNION PRESENTS
FIT maintained a very healthy relation with employee trade unions. There is no
unrest in past few. The atmosphere of the trust and mutual understanding is developed
between management and labor union. There are 4 recognize trade unions are;
COSTOMERS OF FIT
Kerala government.
Government institutions.
Public.
Board of Directors
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Managing Director
Purchase &
Store
Manager
Production
Manager
Sales &
Marketing
Manager
Assistant
Manager
Assistant
Manager
Supervisor
Assistant
Manager
Estimator
Finance &
Accounts
Manager
Personal &
Administration
Manager
Assistant
Manager
Assistant
Accountant
Accountant
Clerk
Clerks
Workers
Clerks
Clerks
Clerks
Security Staffs
Figure : 1
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CHAPTER 3
GENERAL MANAGEMENT PRACTICES
In every organization there are general management practices. These general
practices are the backbone of the success of the company. It provides the clear
information about the organization about the organization .Even a layman can
understand what type of environment exists in the company through study about the
general management practices. Important general management practices are.
3.1 PLANNING PROCESS
In Forest Industries Travancore Ltd, they are always looking for find out the
opportunities arising in the future, they analyses the economic trend and situation.
Their planning process beings only after going through a detailed analysis of the new
opportunity. All the information they are collecting from various sources like the type
of customers, circumstance, product quality, etcThis figure and facts help planning to
be more realistic. Goals are which bind the whole company. There is a tie between
planning and objectives for making awareness to their employee about their duties.
Since they follow a motto best result will be achieved only when the best way of doing
work is selected they are seeking various ways through which organizational goals can
be achieved in best manners.
Any course of action may be suitable but it may involve huge investment and the
other may involves few amounts but it may not be very profitable. i.e., they study about
the performance of various actions and choose comparatively best one. In planning
process, Board of Directors and departmental managers are participating related with
office and administrative matters.
3.2 DECISION MAKING PROC ESS
Decision making is an important matter in an organization. Every day they have
to decide about doing or not doing a particular thing. A decision making may be related
to problems. This process helps in solving the problems. Before making a final
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Finance Manager
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Marketing Manager
Purchase Management
Production Manager
CHAPTER 4
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FUNCTIONAL DEPARTMENT
DEPARTMENT ANALYSIS
FIT has mainly five functional departments,
PURCHASE DEPARTMENT
STORE DEPARTMENT
PRODUTION DEPARTMENT
MARKETING / SALES DEPARTMENT
PERSONAL / ADMINISTRATION DEPARTMENT
FINANCE DEPARTMENT
4.1 PURCHASE DEPARTMENT
The purchase department handles the purchase activities. The main
function of purchase department is to procure raw materials, machines, tools etc.,
needed for production at the right time at the right quantity from the kind of
suppliers with right investments. Purchase manager is the head of purchase
department. Purchase manger is assisted by store keeper in charge and under him
there is material Assistant. The purchase manager reports to Managing Director.
The purchase department shall ensure that:
FIT requirements
Ensure uninterrupted production through supply of materials
Correct specification of materials is provided in the purchase order
The purchase items conform to the requirement of FIT.
Materials required are identified, inspected and stored
Materials received in store are preserved and finally issued to user
departments
Identify and control excessive storage and wasteful consumption
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There are two types of purchase. They are cash purchase and credit
purchase. Credit purchases are settled within 30 days. Purchase items like raw
materials, machines and machine parts, office stationeries etc. are purchased
according to the requirements of other department of the organization. Final list of
purchase items are prepared by the purchase department and given to the Managing
Director. If the MD approves the lists then the next step is to purchase the items.
The raw material used by the company can be divided into direct and indirect
materials. Direct materials include teak wood; rose wood, Sal, aanjili, pingoda etc. are
purchased through auction. It is mainly from nilambur forest depot. Forest Depot send
auction chart to FIT which include the details about timber. FIT purchase timber
through yearly tender. They may recommend procuring timber based on, quality and
price. Glass used for teapoy is also purchased through quotation
Other raw materials like plywood, Formica sheet, Fevicol, screw nut, bolts
etc. are directly purchased from the manufacturing company in order to get the
advantage of 16% excise duty claim.
The following are the manufacturing company
Suppliers
Plywood
Formica Sheet
Fevicol
- Pedilite Industries
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Managing Director
Purchase Manager
Assistant Manager
Clerks
Figure : 2
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The supervisor check the need of the worker is correct or not. When the worker
tell their wanted things for their work. After checking the supervisor list the wanted
materials in the materials requisition form. Then sign in. Then it will give to the
material and storage department. Then the worker can collect the wanted things from
the store.
This process is helpful for the forest industries to know how many materials
are used by the worker and also avoid the wastage of materials by the worker. Only
wanted items are only provided.
They also conducted monthly stock review for find out next month
requirements and then the information passes to the purchase departments and then the
information passes to the purchase departments to make appropriate purchase.
When the order is accepted by the company those orders have a number. No
number means acceptance order number. This no number and the card numbers are
same. The delivery of materials is done by this number. After making the product
sometime the party make it themselves or otherwise the company made it they store
the finished goods in the showroom or in the store up to making the delivery. The
packing of product is changed according to the materials; it is for preventing the
damages in hand potations.
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Managing Director
Purchase Manager
Assistant Manager
22
Clerks
Figure : 3
4.3 PRODUCTION DEPARTMENT
Production is the most important activity of this organization. Production
department starts its production in accordance with the work order. This is one of the
main departments in FIT, In addition to production activities they also monitors the
problem arising mechanical, electrical and instrumentation activities. The various
factors which prevent the department from achieving the budgeted production are
failure of power supply, unexpected break down of machines etc.,, to overcome these,
the company provided with Generator and well equipped machine shop with efficient
electrical and mechanical engineers.
Production department starts its production after receiving the Acceptance
Order (A.O). Acceptance Order is received through the effect of Planning and
Marketing Department. So the deduction Department has a direct link with the
Planning and Marketing. Production Manager is; the Head of this department. This
Production Manager is the one who report to the Managing Director. Production
Manager is assisted by one Assistant Manager, and the Assistant Manager is assisted
by junior executive. There are 3 Super Visors come under the Junior Executive to
control the Band saw, processing and carpenting. This Production unit works from
8.00 A.M to 5.00 P.M.
The production process includes various sub-processes. Machine shop is the
sub-process of production process which follows a maintenance mechanism. It has
necessary tools and equipment's that it replaces worn out parts and lubricate the
machinery on time and regularly 1 checks the working of the machinery.
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Raw materials used by the Department can be divided into Direct and
Indirect Materials. Direct Materials include Teak wood, Rose wood, Sal, Anjily,
Pingoda etc., and Indirect Material includes plywood, Mica, Polish, Inches and
Screw etc. The purchase Department controls the purchase and storage of raw
materials.
SAFETY MEASURES IMPLEMENTED IN THE PLANT
The company gave much more importance to the Health & Safety Measures
it obey the rules regarding safety insisted in the factories Act, 1948. The
overhauling of the machinery and power supply system is done on the regular basis.
Awareness programs and training class for plant workers and supervisors are
conducted. The unit is provided with Firefighting equipment's, Alarming system,
first aid facilities etc. Besides these, the production unit is properly ventilated and
assures proper air circulation. Thus the company provides good working condition
which improves the quality of work which ultimately results in the production of
high quality goods.
The production department is the major function of the each and every
organization. And it is also same in the case of Forest Industries (Travancore) Limited.
In production department the function is start through exacting. That is receiving
orders from the public and check whether it is accepted or not. Then accept the order.
This order is passed to the planning section. They are planning about the
product according to the order. It is making after considering the customers interest
and the money and estimate of the customers. Then passing this information to the
customers if they agreed it forest Industries (Travancore) Limited received agreement
from the customers.
PRODUCTION PROCESS
1. Band saw:-
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This is the first step in production process.it is huge machine for cutting the
wood in to different pieces. The machine is in rounded form. The band sow making
the wood into different pieces ie., in thin and straightly.
2. Re Saw:In the second stage the Re Saw machine is used. The usage of band saw and
resaw are same. Re saw is also used in cutting the wood. It cut the wood into smaller
pieces. These are functions of 1st section. Then the next section is the browsing
section. There are different processes in this section. It includes:
Plainer
Lath
Drilling Plainer
Thickness plainer
Chisalmortizer
Tennon machine
Plainer
Plainer is a machine which cuts the woods in correct rectangular shape.
It smoothen the two sides of the wood. The hard things are remaining in this process.
And that waste is given to the public in cheap rate, ie., one big bag have only 6Rs.
They collect it directly from the plant itself.
Thickness Plainer
It is the same version of plainer. Plainer, correctly cut it in to correct
rectangular shape. In this it will correct the width and thickness of the wood.
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Chisal Mortizer
This machine is used to make rectangle hole in the wood which
complete the above process.
Tennon
Tennon is another machine which is used to make the correct partner
of the chisel mortiser marked holes.
Lath
It is one of the actual forms in the forest industries Travancore. It
helps to make art work in the wood. It is only done by skilled and experienced
persons.
Drilling Machine
This is used to make round holes in the woods.
After all these next is the assembling section. Here the product will come
into its final position. After this the next step is moving all products into polishing
section. Mainly they use melamine, lacktor, wax polishing etc., for polishing the
products. After the making of the product it will be delivered to the customer or it is
moved to the showroom.
FIT also doing upholstery work on the 1 st floor. They are also supervised by
the production department. The materials that are wanted in the production is
provided in the store with the consent of store manager.
Then the final appearance is made. When one order is completed before the
due date , it will be kept in the stores. When the customer comes to take that order it
will be provided only after a final touch up.Quality of the product in each
department is correctly checked by the supervisor. They are totally 24 supervisory
staffs in FIT to checkout the manpower.
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Each and every worker in the plant is safely secured. The machinery's are
properly covered. And each and every activity of workers in the plant is checked by
the supervisors.
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Managing Director
Production Manager
Assistant Manager
Supervisors
Workers
Figure : 4
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30
31
- Rs.46473 per M3
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Managing Director
Assistant Managers
Estimator
Clerks
Figure: 5
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recorded some holidays. That days and the national holidays the FIT will not
functioning.
61
24
c.
Executives
d.
91
Table 1
Forest Industries (Travancore) Limited is a government institution. The
recruitment & selection procedure is done by the government itself by their own
techniques, i.e., through PSC test. PSC conduct the test and from that, persons scoring
highest marks in that will be called to the company and then make an interview.
Through this interview they will select a person and appoint him.
This is the selection procedure of the forest industries. And they provide on the
job training. This is the most effective method of training the Workers. This method is
practical- oriented and it facilitates learning by doing. The worker is imported training
at the work place by the supervisor, i.e. they will not provide any proper training to the
workers. If they are selected they are appointed in to the post as their probation period
i.e., every workman recruited to the service of the company on a regular basis shall,
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RECRUITMENT
37
39
Punctuality
Achieving target
Achieving quality
Behaviour at work situation like co-operation, work habits, contribution to the
organization
Work habits include late report for duty, leaving the work spot without
permission indulging in gossiping, disturbing others etc. Contribution to the
organization include giving creative ideas in working situation, accepting any
responsibility with enthusiasm, behaving well with superior, subordinates and
colleagues, handling multiple crafts etc.
Grades are given like poor, satisfactory, good, very good and excellent. Poor
performance will negatively affect the appraisal and excellent performance appraisal
not only considers the past performance but also the potential of the future
performance.
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Canteen: The organization runs a subsidized canteen for its employees. Provide
food on subsidy rate to all employees. E.g.- Tea 15ps, Lunch 90ps
Annual bonus: The organization pay annual bonus to its employees based on
the organizations performance in the previous financial year.
Drinking water: Water coolers are installed in the company for the benefit of
the employees.
First aid appliances: First aid materials are provided by the organization to meet
the emergency.
Gratuity: Gratuity to employees covered under the Group Gratuity Cash
Accumulation Scheme of LIC.
Provident Fund: The eligible employees receive benefit from a provident fund,
which is a defined contribution plan. Both the employee and the company
make monthly contribution to this provident fund plan equal to a specified
percentage of the covered employee's salary.
Lighting: The office rooms and plant of the company arc properly ventilated
andlighted. Lack of natural light in the plant is compensated by providing
artificial lighting for the protection and safety of employees.
Resting Facilities: To take rest, employees are provided with chairs. They are
provided with toilets, bath rooms, washing facilities and drinking water.
Maternity benefits:
Leave- There is 14 days casual leave and 30 days privileged leave for
permanent employees in a year. Maternity leave of 12 weeks is granted to the
female employees.
GRIEVANCES HANDLING
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CITU
INTUC
AITUC
STU
There are permanent workers and daily wages workers in the plant The
Company is following piece rate wage system. Each worker should work at least 8
hours of work. Work for additional hours they will get incentives. That is for 1 hour
they get 6 Rs. Maximum incentives in a month is 775. If anyone who does not
satisfied with this will be charged penalty. That is 75 Rs in a month.
They have a proper waste management system. Waste material is sold to coir fed
and also to local people.
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Managing Director
Personnel &
Administration Manager
Clerk
Figure : 6
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4.6 FINANCIAL
DEPARTMENT
FINANCIAL ANALYSIS OF
FIT
To have a very clear understanding of the profitability of a business the
statements will have to be analyzed and interpreted. Financial analysis is the process
of identifying the strength and weakness of the company with the help of accounting
practices information provided by the Profit and Loss A/c and Balance sheet. There
will provide the management considerable insight in to the levels areas of strength and
weakness.
The Finance Department deals with the procurement and management of
funds. This department controls the overall financial transaction of the company. It
controls the receipts and payments of each and every activity for all the divisions. In
FIT, finance department plays a major role because in public sector only very few
companies are earning profit. FIT is single unit organization. The company is in profit
for several years. The surplus money is invested in the treasury and gets a fair rate of
interest from the treasury.
The Finance Department keeps a record of everything concerning any expense
or income. They have no interest on working capital and also no secured or unsecured
loans. In most of the private sectors achievement is always less than budget, but in the
case of FIT achievement is always greater than the budget. There is no stability in the
profit of FIT. The areas under the purview of the finance department include salary
administration, bill processing, statutory payments like taxes, central excise etc,
financial administration, costing, internal audits and balance sheet preparation,
budgeting, payments and receipts, bank negotiations etc.
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Salaries and other payments, remittances and recovery etc in the case of employees are
done in a time.
These are the major functions of finance department in FIT
The method employed to examine the vertical as well as horizontal
relationships of different variables with a view to study the profitability and financial
position of the business firm are called techniques of financial analysis. These
techniques of financial analysis include Ratio analysis and trend analysis.
2003-2004
4,21,95,672.47
1,36,17,476.10
3.09
2004-2005
3,41,39,230.42
53,56,909.42
6.37
2005-2006
5,51,40,645.15
1,42,76,396.88
3.86
2006-2007
4,31,19,945.18
1,86,60,208.30
2.14
2007-2008
4,72,47,294.90
2,36,97,808 89
1.99
Table 2
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Average Inventory
Ratio
PROFITABILITY RATIO
Profitability ratios are utmost importance for a concern. These ratios are
calculated to show the end results of business activities. This ratio indicates the
profitability position if the concern. The profitability ratios measure the profitability or
the operational rifled. The financial results of business operation.
Year
Ratio (%)
2003-2004
21,34,012.54
5,89,98,509.41
3.62
2004-2005
32,17,844.19
6,12,41,457.56 i
5.25
2005-2006
38,40,213.56
7,26,26,783.54
5.28
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2006-2007
8,17,744.86
5,91,09,150.95
1.38
2007-2008
14,77,930.47
6,08,08,537.21
2.43
Table 3
,;
Ratio
(%)
2003-2004
13,39,397.54
5,89,98,509.41
2.27
2004-2005
20,66,492.19
6,12,41,457.56
3.37
2005-2006
29,19,538.56
7,26,26,783.54
4.01
2006-2007
8,87,783.38
5,91,09,150.95
1.50
2007-2008
13,26,970.95
6,08,08,537.21
2.18
Table 4
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Managing Director
Assistant Manager
Assistant Accountant
Accountant
Clerk
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Figure : 7
CHAPTER 5
SWOT ANALYSIS, FINDINGS, SUGGESSTIONS AND CONCLUSION
A scan of internal and external environment is an important part of the strategic
planning process. Environmental factors internal to the firm can be usually classified as
strengths or weakness or those external to the firm can be classified as opportunities or
threats. Such an analysis of the strategic environment is referred to as SWOT analysis.
5.1 SWOT ANALYSIS
STRENGTH
Continued market leadership in the dominant industry segment.
Global presence
Presents qualified products inn furniture segment
Dynamic, progressive and stable management
Responsive to change with the changes in market condition and product
profiles
Product innovation and technological superiority.
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Natural and qualified woods are used i.e. Nilamboor Teak etc.
Global quality standards and international process and system certification
Strong brand in the price sensitive market
WEAKNESS
The work orders are not consistent
Household products does not have good market
High price for the products
The employee perks and facilities are not up to the mark.
OPPORTUNITIES
Now a day's people change their teats and preference according to the changes in the
climate, they use wooden product in the place of plastics and other items. The wooden
industry pay an important role in the changing condition
Leadership position in the commercial furniture segment will enable the
company to leverage new and related business opportunities
Growing consumers preference in wooden products may lead to growing
demand
Access to global sources for raw material at competitive price due to economies
of scale.
THREATS
Fluctuations in availability of raw materials
Large number of competitors
Government policies and intervention
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Recognition in work.
It is seen that half of the employees have a neutral opinion, only few of them
are satisfied with the same and the rest are dissatisfied.
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It is clear that more than three - fourth of the employees are satisfied with the
management support, but few are disagreed with the same.
Opportunities for development.
It is found that most of the employees are disagreed with the opportunities for
development, but a few are neutral.
Adequate and fair compensation.
Hardly few are satisfied with the adequate and fair compensation. More than
three- fourth of the employees are dissatisfied with the statement.
Reasonable incentives and other benefits.
Hardly few are satisfied with the incentives and other benefits given to them.
But there is a mixed opinion regarding the same.
Freedom and autonomy in the job.
It has been interpreted that most of the employees are satisfied with the
freedom
and autonomy in the job. Less than half of the employee's only remain neutral.
Training opportunities available.
More than half of the employees are disagreed with the opportunities available.
Only a very few are happy with the same.
SUGESSTIONS
It was found that there were many problems and weaknesses in many of the
benefits according to the respondents. The following suggestions can be done to
overcome the present situations:
The employees should have faith in the management and their activities.
The employees should be educated to make proper use of benefits so
that they are truly benefited from it.
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5.3 CONCLUSION
From the findings we can conclude that the firm has provided all the basic
necessities to its employees, which are normally provided. It has been able to motivate
its employees to a greater extent. Employees being the backbone of the company, it is
very essential to motivate them so that they can make the best out of their skills and
abilities.
The firm has to look into the maters like salary benefits, bonus, other
motivational factors, participation in management, proper delegation of work load,
information technology training and other similar benefits. The firm must also pay
attention to the suggestion and recommendation of employees.
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