Internship Report on Gfc

Prepared By: Farhan Ahmad Roll No: 0802090-059 Faculty of Management & Administrative Sciences University of Gujrat INTERNSHIP REPORT A six weeks internship report submitted in partial fulfillment of the requirement for the degree of the BACHELOR OF BUSINESS ADMINISTRATION in Accounts from Faculty of Management & Administrative Sciences University of Gujrat by FarhanAhmad Under Roll No: 08020920-059 The Internship report of Mr. Farhan Ahmad is approved: ————————————————————- Internship Supervisor Letter of Transmittal The Coordinator, Faculty of Management & Administrative Sciences University of Gujrat Subject: Submission of Internship Report Dear Sir, I acknowledge with my cordial thanks the co operation & encouragement you provided and it gives me great pleasure in submitting my report to you. With regard to the opportunities you provided, I tried entirely to figure out something about fan industry and its requisite prospects. During my 6 weeks training session I have gathered & learned a great experience for myself . finally I entirely enjoyed this assembling of term paper with your renowned institution, mortal support & encouragement. I should be glad and ready to co-operation with whatever you may ask for further clarification. Thank you. Yours Sincerely, ——————- Farhan Ahmad Roll No: 08020920-059 ACKNOWLEDGEMENT I dedicate this internship report to all the employees of GFC (Pvt. ) Ltd. Whose kind guidance and help, during my stay in metro, made me to learn a lot about different tasks at professional level. At this moment I also want to give a tribute to my teachers by dedicating this report to Faculty of Management & Administrative Sciences, University of Gujrat. TABLE OF CONTENTS Contents Page No. Letter of Transmittal 05 Acknowledgement 06 Executive Summary 07 1. Introduction of Organization08 Brief History08 Company’s Credential 14 Company’s Achievements16 Company’s Certificates 17 Type Of Company 19 Hierarchical Level Of Company_____20 Boards Of Directors_____21 Communication Model 22 2. Company’s Departments__23 2. 1. Purchase Department24 2. 2. Inspection Department26 2. 3. Production Department27 2. 4. Sales and Marketing Department30 2. 5. Research and Development31 2. 6. Internal Audit31 2. 7. Export & Import Department32 2. 8. Accounts Department34 2. 9. Human Resource Management37 2. 10. Field of Activity37 3. Other Learning43 4. Objectives of Studying the Organization 44 5. The Business Principles of GFC 44 6. Suggestions48 7. References51 8. Appendix52 9. Contacts of Internee and Organization 54 EXECUTIVE SUMMARY General Fans Company (Pvt. ) Ltd. Is one of the top most Fan manufacturers in Pakistan which is recognized for best quality and design in Fan Industry. It is a great honor for me that I have completed my six week internship as per degree requirements in HR department of GFC. There are several departments working in GFC which include: †¢Purchases †¢Raw material inspection †¢Production †¢Sales and Marketing †¢Research and Development †¢Accounts Department †¢Human Resources Management †¢Internal Audit †¢Export & Import I was first assigned to the HR department for first four weeks and then rotated to different departments in the last few weeks so that I may understand the workings and collaboration of different departments. It was a very good experience in GFC and I observed every department and its working keenly and gave my suggestions to the top management for the betterment of GFC. INTRODUCTION OF ORGANIZATION 1. 1. Brief History General Fan Company (Pvt. ) Ltd. was formed in 1954 as a small manufacturing unit for electric fans. The company grew rapidly from its modest start because of the quality of its products. The company was one of the major exporters of fans in 1960's to Iraq. However, the company was in trouble in late 1970's due to differences in its partners. The present management took over the company in 1978 and Mechanical Engineer Muhammad Ilyas took over as Chief Executive of the company. Under his dynamic leadership the company grew rapidly and G. F. C became major recognized brand for fans in the Pakistani market. Mr. Muhammad Ilyas, the Chief Executive who is a foreign trained Mechanical Engineer, brought in new technologies for fan manufacturing from developed countries and improved G. F. C products in a continuous process. Automatic Capstan Lathe Machines and Die Casting Machines were introduced in 1982. Automatic Winding Machines were brought from Taiwan in 1985. A Japanese made modern Enameled Wire Manufacturing Plant was installed in 1987 for the manufacturing of quality enameled copper wire for own consumption as well as for the sale in the local market. Plastic Injection Molding Machines were installed in 1993 to manufacture own plastic parts for plastic fans like Exhaust Fans, Bracket Fans, Circumatic Fans and Table Fans. A modern tool room was set up for the manufacture of Dies, Molds and Models etc. The tool room consists of Wire Cut Machines, EDM Machines, Surface Grinders, Cylindrical Grinder, Shaper Machines, CNC Milling Machines and Copy Milling Machines. Automatic Rotor Balancing Machines were introduced in 1995 to further improve the quality of fans. Modern Continuous Stamping Presses were installed in 1997 for manufacture of motors of all type of fans such as Ceiling, Pedestal, Bracket, Exhaust and Circumatic Fans etc. Slitter Machine for slitting the electrical steel sheet coils was installed in 1999. The company started manufacturing Washing Machines in 1996. Due to its quality and excellent finish the product has become an instant success. Gas & Electric Geysers are being manufactured since year 2000. The Chief Executive Mr. Muhammad Ilyas is a pioneer in the export of electric fans from Pakistan. To initiate the export from Pakistan he attended an International exhibition for electrical appliances in 1993 in Abu-Dhabi. The company also participated in many trade delegations as well as exhibitions arranged by Export Promotion Bureau and Federation of Chamber of Commerce & Industry in Bangladesh, Yemen, Saudi Arabia, and Dubai, Bahrain. Qatar, Sudan, Egypt, U. S. A. etc. G. F. C was the first Pakistani company to export fans to the Middle-East. G. F. C Fans became an instant success due to their quality and durability in all the markets where these were introduced. General Fan Company has also set up a unit to manufacture capacitors used in electric fans, Washing machines and motors. Mr. Muhammad Ilyas (Chief Executive) and Mr. Muhammad Ijaz (Finance Director) are always on the look out for the latest technology for manufacturing of electric fans as well as for corporate management of the company. Now G. F. C has established a new Computer department which keep its Executives update about any inquires. This shows the interest of management not only in manufacturing technology. But they also know the importance of information technology. G. F. C has stepped in this Millennium fully equipped with manufacturing and information technology for Corporate Management and Marketing. G. F. C can rightly claim that they have all the best technologies in its workshops, which are available for Design, Production. Our products are now of International Standard, and we are truly an International Company. Our 800 Employees and Management are committed to Excellence in Quality. G. F. C. was the pioneers in export of fans from Pakistan. G. F. C. has got eight Export Trophy Awards for Fans and other Electrical Products like enameled Copper Wire. 1. 2. Main Competitors: General Fan Company has perfect competition in the market for different products, mainly in fan manufacturing field. The main competitors of G. F. C (General Fan Company) are; ? Pak fan ?Royal fan ?Younis Fan 1. 3. First mover advantage: General Fan Company is currently enjoying the first mover advantage of exports. G. F. C is the only company which starts to export to other countries. That's the reason company has been rewarded export trophy for 08 times. G. F. C being the most popular brand as for the electric fans in Bangladesh most of the fan manufacturers in Bangladesh are using â€Å"G. F. C† trade mark beside the manufacturers of China who are exporting their electric fans to Bangladesh with the same Trade Mark. To stop the manufacturing and selling of fake G. F. C Fans which are registered vide Trade Mark Registration No. 62674 dated 22. 11. 1999 the Chief Executive of the company, Engineer Mohammad Ilyas, visited Bangladesh. 1. 4. Our Core Values: ?Competent ?Committed ?Creative ?Cooperative ?Caring 1. 5. VISION STATEMENT We believe that we have A unique product which has been developed by G. F. C, And no other country manufactures a pedestal fan like ours. This product is most useful in the hot tropical humid climates. We want to mark this product throughout the world, And we foresee this product to dominate the entire International market. We want to set up an excellent after-sales-service, And spare parts supply service to each and every country. We also want to set up home service centers throughout the world. We believe that within 10 years; We can achieve an export target of US Dollars 40 Million. 1. 6 MISSION STATEMENT To produce such quality products, Which provide entire satisfaction to all our customers the world over. 1. 7 QUALITY POLICY STATEMENT Quality policy of G. F. C is to produce such quality products, which provide our customer the entire satisfaction the world over. to meet this obligation, we continually update employees’ skills by introduction of new technologies. 1. 8. COMPANY’S CREDENTIAL General Fan Company (Pvt. ) Ltd. is a pioneer in the export of electric fans from Pakistan. To initiate the export from Pakistan we participated in International exhibition for electrical appliances in 1993 in Abu-Dhabi. The company also participated in many trade delegations as well as exhibitions arranged by Export Promotion Bureau and Federation of Chamber of Commerce & Industry In Bangladesh, Yemen, Saudi Arabia, Dubai, Bahrain. Qatar, Sudan, Egypt, U. S. A. etc. G. F. C. was the first Pakistani company to export fans to the Middle-East. G. F. C. Fans became an instant success due to their quality and durability in all the markets where these were introduced. By the grace of God: ?G. F. C. has been getting the Export Trophy from FPCCI for the export of electric fans for many years. The growth rate of fan export from G. F. C. has been continuously more than 100% per annum for the last 5 years. 1/3rd of the total fans exported from Pakistan. ?G. F. C. has large International orders many times more than the previous years for the financial year 2001-2002 and we are looking forward to export fans to all parts of the world including United States and Europe. ?Water and Power development authority has issued the renewal of Registration in 1997. Registration Renewal is an honorable success that G. F. C. has achieved. ?ISO-9002 Certificate assures that Manufacturing Quality of Electric Fans are according to International Standards. Engineer in Chief Branch has given the certificate of Enlistment/Registration dated: 23-2-2000 on best technical performance. ?Contract agreement for supply of G. F. C. Fans for â€Å"Army Housing Directorate† at 30 April 2001 and is a big achievement for G. F. C. Fans. ?Pakistan Standard Institution has certified according to 1961 ordinance. The institution hereby grants to G. F. C. Fans. (Hereinafter called â€Å"the License†) this License is used as standard mark. 1. 9. COMPANY’S ACHIVEMENTS 1. 10. Company’s Certificates 1. 11. TYPE OF COMPANY General Fan Company (Pvt. ) Ltd. is a partnership company of two brothers. . 12. HIERARCHICAL LEVEL OF COMPANY 1. 13. BOARD OF DIRECTORS There are two families of jointly managing the General Fan Company. All boards of directors are family members. 1. 14. COMMUNICATION MODEL There is no well defined model of communication. I observed that following communication model. 2. COMPANY’S DEPARTMENTS To run an organization many departments work in it, so that an organization may achieve its aims and objectives efficiently. To ensure efficient working of G. F. C the departments that are working in it are as: There are 09 departments working in the Organization Purchases ?Raw material inspection ?Production ?Sales and Marketing ?Research and Development ?Accounts Department ?Human Resources Management ?Internal Audit ?Export & Import 2. 1. Purchase Department Purchase department in every manufacturing organization is of most importance. Because this department provides the other departments as production department with their basic needs. This department is also responsible for the quality of the products produced in that organization, as the quality of product depends upon the quality of raw material. In G. F. C raw material is also purchased from outside that's why they are in need of a production department to fulfill the purchase requirements. This department purchases raw material for the production department. It is the responsibility of this department to provide quality material within minimum cost. To achieve this purpose, the production department of G. F. C purchases raw material, in the supervision of two managers i. e. Mr. M. Kamran and Mr. Zia Hussain, from both sources i. e. ?By domestic purchases ?By importing raw material In Domestic Purchasing, G. F. C purchases raw material regarding the manufacturing of, fans, washing machines, room air coolers, etc. and mostly for this purpose markets of good standards are visited. G. F. C purchases raw material locally from Gujranwala, Lahore, Gujrat, etc. In imports, G. F. C mostly imports those materials that are either expensive or of low quality in Pakistan. Importing is done to keep the standard of production high as well as keeping per unit cost at some reasonable point. The material that in included in imports of G. F. C are ?Aluminum Sheets. ?Copper Rods. ?Plastic raw material. ?Mini Motors Chemicals Here is lists of those countries from which mostly imports are done by G. F. C are from: ? China ?Taiwan ?Korea ?United Kingdom ?Japan ?Hong Kong 2. 2. Inspection Department Those organizations that don't compromise on quality keep an inspection department whose work is to inspect the raw material for quality of raw material and its quantity. If any material is of less quality or of that quality that is not acceptable to the organization, this department doesn't give permission to enter such material within the boundaries of organization and material is returned as it is. In G. F. C there is an in charge for the inspection of raw material and it is his responsibility to make sure that the purchase made for organization is for that material which is of best quality. This department restricts the entry of such material that is either of: ? Less quality ?Defective ?From unauthorized dealer ?Not useful This department ensures that material purchased is of: ?Best Quality ?Contains no defect ?From authorized dealer 2. 3. Production Department Production department in any organization is of immense value. Performance, working, profitability, etc. epends upon this department. All the products of organization are manufactured here. It is the department where force of organization either in labor form or in financial form is applied over material to make products for the organization. So that organization may sell those products in the market to get profit. Like other organizations G. F. C is also paying great attention towards Production Department. According to C. E. O of G. F. C, Production and Selling Departments are of more importance to them. This department works under the supervision of Mr. Asim Ijaz who is the Director of production and he has 4 foremen under his authority so that authority is delegated to others in order to make sure that work is going as at should be. Staff in production department is highly skilled although most of them are not too much educated but they are skilled person in whom 20 members of management and 700-800 are labors and these are the true assets of the company In G. F. C production department is divided into further sub departments as: ? Motor Section ?Body Section ?Fitting Section ?Packing Section 2. 3. 1. Motor Section I. In this section of production department motors for various products of G. F. C are produced. In this section motors for ceiling fans, pedestal fans, room air coolers, etc. are manufactured. II. Ceiling fans use a variety of motors i. e. 36†³ 48†³ and 56†³ are used. And this section produces the motors for all. III. In Pedestal fans motors used are entirely different from the motors used in ceiling fans. This section also produces the motors for pedestal fans. IV. Meanwhile room air coolers also use motors in two ways. V. Motors for fans VI. Motors for water pumps. This section produces the motors for all. This section covers sub sections as: a. Winding Section In this section copper wire is made winded, for type of motor that is going to be used in the Production of other products. b. Coil Testing Section In this section coils made in winding section are tested whether they are in working condition or not. Only approved coils are sent to motor section. 2. 3. 2. Body Section: In this section of production department bodies of various products are manufactured. No matter whether the body is made of plastic or it is made of metal. In this section, bodies of fans, washing machines, coolers, heaters, and other products are manufactured. This section is comprised of the following: Blade section ?Plastic Molding Section ?CNG milling section ?Copper Wire Section i. Blade Section: In this section blades for different kinds of fans are produced. Fan blades, blades for air coolers, etc. are produced here keeping in mind that blades should be good looking and efficient in working. ii. Plastic Molding Section: In this section production department plastic is molded in various shapes to make bodies of fans in plastic those parts of ceiling fans that are of plastic. In short this section makes all the plastic parts of products. iii. Copper Wire Section: This section makes the copper wire for own use and also as a product of G. F. C to be sold in market and for using in its own production process e. g. in making motors. iv. Fitting Section: This section is responsible for the assembling of different parts that make up a product. In this section rotor and stator are combined to make up a complete motor. Similarly in blade section blades are assembled with their connecters. In this department other things like pedestal fans are assembled. This section makes the product in final shape to be packed and sell. v. Packing Section: In this section products are packed to be delivered to selling and marketing department to sell them in the market to have income. This department provides the facility of safe packing and making the products in attractive packing to catch more and more customers. 2. 4. Sales and Marketing Marketing and selling department is very important for every company either is multinational company or domestic company. This department is a link between organization and customers. It s the responsibility of this department to make the customers aware about the products produced in the organization. On the other hand this department is also responsible to sale the products that are manufactured in the market. There is only one Director of marketing i. . Mr. Nabeel Ahmad Ilyas, son of C. E. O Mr. Muhammad Ilyas, and one manager in sales department is Mr. Abdul Rehman. Marketing department is responsible to provide the goods in the market according to the need of the customers. Focus the marketing department is to providing products at proper place at proper time. Staff of this department is highly qualified and skilled. This department concentrates on qualified staff who analyze the market and suggest the manager how and where they should to present it. In the off-season, G. F. C also sells its products in large quantity by offering the special discount. They give special discount on buying their products. According to a survey made by G. F. C only 40% fans in the market are from recognized and registered firms remaining 60% are private and unregistered firms. Their product's sale in KARACHI is stronger and their market share is 18% out of 40%. 2. 5. Research and Development Research and development (R) department in any organization can lead the organization away from others because this department makes a research in the market regarding future trends, expected changes that are going to be in customer's taste and demand. It also suggests to the organization what was the response of previous version of product and what is to be innovated. In G. F. C R&D is not working in the form of a well arranged and not in a proper form of a department. Few employees Mr. Engineer Shehbaz as the manager of this so-called department do this work of R&D department. He is alone responsible for the research work. 2. 6. Internal Audit Internal Auditing is done to check the working of Accounts Department. Mostly it is done to prevent the errors in cash matters of the organization either intentional or unintentional. G. F. C has also its internal Account Department that works in the supervision of Mr. Malik Tafheem has taken the responsibility of internal Auditor. The work of this department is to show actual position of accounts that should be error free. As chances of fraud and misappropriation prevail in every organization so this is the responsibility of this department to fail all the tries that are made in this regard. Note: External Audit is done by the â€Å"M. A Chaudhary. † 2. 7. Export & Import Department This department is revenue generator for the organization and it ensures that organization is gaining in the market. This department is accountable for the delivery of products to the markets where the organization wants to compete and capture market by satisfying customers with their quality The strength of G. F. C fans depends on this department. Department has been comprised on highly skilled and experienced people, they perform their duties and boost the exports with in well-established structure. The manager of this department is MR. Shahid Ali. This department is responsible for contacting with foreign raw material suppliers, search for the new suppliers when needed, import all the raw material required by production department. When company started its exports, there was no planned procedure. But now after growing the company uses latest technology for the export of products. This department plays an essential role to capture well challenging global market and deal with all import and export contemporary challenges under high responsibilities and company strategy and policy department endeavor to augment the export channels. G. F. C fans company first time export their products in AMERICA. Export is a major part that distinguishes it to the other companies. Export countries of GFC fans are, ?SAUDI ARABIA ?YUMAN ?AFGHANISTAN INDONASISA ?DUBAI ?UNITED KINGDOM ?UNITED STATE OF AMERICA 2. 8. ACCOUNTS DEPARTMENT Accounts Department in any Organization is important because of its working. This department shows the progress of organization and allocates the amount to purchase department for purchases. It also pays the rewards to other factors of production in the form of rent, wages, salaries, interest on loans, e lectricity bills, payments to suppliers, managing company accounts etc. In G. F. C accounts department works under the responsibility of Mr. Shahid-Ur-Rehman who is the General Manager of the organization. This department is liable to allocate amount approved by C. E. O to various department on their need. This department also decides about the suitable method of paying wages to labors. In G. F. C accounts department has set the method of wages to production labor as PIECE RATE SYSTEM. This department prepares annual reports of the organization in the month of September every year because September is the closing month of annual year in G. F. C. This department is also held responsible for the distribution of annual bonuses and relieves to the workers that C. E. O declares to them. 2. 8. 1. SOURCES OF RECEIPTS: Recovery from sales through show room ?Sales proceeds of left over raw material ?Export fans 2. 8. 2. PAYMENTS: ?Wages ?Staff Salaries ?Utilities expenses ?Govt. Dues 2. 8. 3. GOVT. PAYMENTS: ?Custom Dues ?Sales tax ?Electricity, Sui gases and telephones expenses 2. 8. 4. PAYMENTS TO SUPPLIERS: ?The suppliers are paid on credit/cash basis ?Venders are paid on cash basis ?Foreign suppliers are paid up to a limited level 2. 8. 5. Functions & Operations of Accounts department; Double entry accounting system is used in G. F. C. Following are the main duties performed by the Accounts department: ? Voucher preparation Coding & Posting of Vouchers ?Prepare a statement of daily receiving & payments ?Preparation of Financial statements ?Cash disbursement ?Monthly Trial balance preparation ?Ending adjustments ?Monthly Cash flow projection ?Bank Reconciliation Statements ?Sales Invoices ?Sales Tax Invoices ?Report to FBR Account department also performs following functions: ?Comparison of cash flow, Budgeted Vs actual ?Capital investment ?Fixed assets schedule report ?Comparison over heads report budgeted Vs actual ?Fixed overheads ?Variable overheads ?Preparation of production statement ?Preparation of Stock statement Month wise production and its sales value ?Wages and salaries statement ?Preparation of report on working Capital ?Receivables ?Raw material including stocks on way ?Finished goods stocks ?Advances and prepayments ?Cash/Bank balance on hand 2. 9. HUMAN RESOURCE MANAGEMENT 2. 9. 1. HUMAN RESOURCE AND SUCCESSION PLAN Human Resource Policy is to hire young, fresh, energetic and active associates to meet the existing and future workforce requirements and providing its associates maximum opportunities for internal mobility through personal training and development to enable them to take higher positions. Human Resource Division has to have succession plan for each key job/area to make sure the continuity of operations in the relevant division and to fill the temporary/permanent vacancy. 2. 9. 2. FIELD OF ACTIVITIES My field of Specialization is M. B. A (HR), so I work 6 weeks under the supervision of General Manager in General Fan Company, 5 weeks in Human Resource Department, and 3 weeks in observing other departments. General Manager is responsible of handling all company records, and HR related activities. The G. M of G. F. C is very hardworking and very honest person. I prepared the whole company report in my internship period, in which I discuses all the departments and their functions. Most of my internship time was spent in HR department, now I will discuses the all functions and operations of HR department, their critical analysis and recommendations. Human Resource Department is actively working in G. F. C fans private limited Gujrat. Basic responsibilities of this department are as follows: ? Hiring Employees ?Firing Employees ?Developing Training Plans for Employees ?Maintaining Appraisal Reports ?Maintaining the Records of Employees 2. 9. 2. 1. HIRING EMPLOYEES There is a proper process for hiring an employee in G. F. C fans private limited and this process has several steps which are as follows: ? Need Analysis ?Job Requisition ?Job Advertisement ?Sorting the Applications ?Initial Interview ?Testing ?Second Interview ?Final Assessment ?Orientation ?Training 2. 9. 2. 2 Reference base Hiring: In G. F. C Gujrat employees also hire through references of already active employees but test and interviews are conducted for them as well. 2. 9. 2. 3. FIRING EMPLOYEES: If an employee does not work according to defined rules then it is responsibility of HR Manager that employee should be fired. If any employee commits any unauthorized work during his job then he will be fired. If any employee is not working up to the mark and not achieving his targets then HR Manager can fire him. 2. 9. 2. 4. Recruitment and Selection Process In GFC the recruitment and selection is made mostly on employee referrals and sometimes if needed advertisement is made on the newspapers for the filling of vacancies. The recruitment and selection process of metro includes the following steps: CV with professional reference Evaluation of application and CV Call for Interview Temporary job letter after success of interview Clearance certificate from previous organization Medical certificate Completion of trial period Issuance of permanent or contract job letter 2. 9. 2. 5. JOB DESCRIPTION Job is described at the time of interview and a complete job description is made on the permanent job letter of the employee. A job description form has been developed for the job description of every employee. 2. 9. 2. 6. DEVELOPING TRAINING PLANS FOR EMPLOYEES: HR Manager is also responsible for developing training plans for employees (workers & staff) and Internees. I. Identification of Training Needs: The training needs of employees (staff & workers) are identified by the function that they perform and by the respective departmental head. For a new employee the training needs are identified in the job descriptions. For existing employees (in case of workers) the training needs are identified in the â€Å"Training Needs Assessment Form†. The relevant departmental head fills the Training Needs Assessment Form. For staff members the training needs are assessed on ACR that is filled by the relevant departmental head at the end of every financial year. Training needs are identified in G. F. C fans private limited. Gujrat to enable employees to execute routine task and to enhance their professional capabilities, enable all persons to reach their full potential, to introduce new techniques and skills in a timely manner and to improve the efficiency and effectiveness of the company’s activities. The qualification and experience required for persons performing tasks affecting quality are documented in the job descriptions. II. Training: Based on the TNA (Training Need Assessment) for the workers HR Manager develops an annual training plan. This training plan is then forwarded to the respective departmental head along with the training attendance sheets. The designated trainers conduct training on the dates mentioned in the plan. The TNA (Training Need Assessment) for the staff members is conducted by the respective Departmental Heads on their ACR (Annual Confidential Report). The General Manager is responsible for developing Annual Training Plan (for executives) based on the recommendation of the departmental heads, as desired by the departmental head or management time to time. For a new employee who has been hired at the staff level the HR Manager and relevant head of department develop an orientation plan. After the orientation phase is over the employee submits a written report. Based on this report, the departmental head gives his recommendation that the employee needs further training or not. If further training is required a further orientation plan is developed and subsequently the training is provided. III. Evaluation of training: Departmental heads monitor the training assigned by the trainers. After proper testing and getting the recommendations of the trainer about the trainees, the departmental heads does the evaluation of the training imparted. Assessment of effectiveness of training of employees (staff members) is done on their Annual Confidential Reports. Assessment of effectiveness of training imparted to (non-executives and workers) is done on the Training Plan. IV. Training records: Training record is maintained in the HR Department. The HR Manager is responsible for up-dating the training records of the employees. These training records are maintained in the respective files till the retirement or transfer of that particular employee. All executives and staff are made aware of the departmental quality objectives and role of their activities and their contribution in the achievement of objectives. 2. 9. 2. 7. MAINTAINING APPRAISAL REPORTS: Appraisal Report is assessment of employees which is done by head of department. At the end of the year head of departments make the Appraisal Reports for each employee (Staff only) working in their department. These appraisal reports then forward to HR Manager who further manage these reports according to the remarks which are given by the head of department about the employee. According to the remarks record of employees are upgraded. Appraisal decides the percentage of increment in pay of employees or for promotion. Report also decides whether employees need any further training or not. . 9. 2. 8. MAINTAINING THE RECORDS OF EMPLOYEES: Managing the record of employees is also responsibility of HR Department. When the employee is hired all of his data and documents are stored in a file and this file is stored. Employee’s data is also stored in computer by assigning him with a computer code. Now with the passage of time all new documents including training certificates and app raisal reports are updated into the files of employees. Any employee’s file has the same number which is computer code of employee. 2. 9. 2. 9. ATTENDANCE SYSTEM Attendance is made on daily basis at the main gate with entry and exit time transferred to the HR department. Overtime attendance is taken by the supervisors of the concerning department and conveyed to the HR department for the overtime wages etc. 2. 9. 2. 10. JOB ANALYSIS Job analysis of every employee is made by the HR department with the help of departmental managers and employee performance according to their job description. 2. 9. 2. 11. COMPENSATION AND REWARD MANAGEMENT SYSTEM On the basis of the job analysis annual increments and promotions are given to the employees twice a year. For outstanding employees special pay packages are offered and rewards and given in different ways to the employees for their motivation. 2. 9. 2. 12. LEADERSHIP STYLES In Metro I observed two types of leadership styles that are: Autocratic leadership and Democratic leadership. Autocratic style of leadership is observed in functional managers while democratic style of leadership is observed in middle and corporate level managers. 2. 9. 2. 12. HEALTH AND SAFETY ISSUES A proper system of health and safety is established at metro by providing the workers with safety devices, trainings, and by providing proper uniforms. Metro Hi-Tec provides medical and safety services to its employees in different ways. 3. OTHER WORKS CAUSED TO EXPERTISE ME DURING INTERNSHIP Apart from the before mentioned tasks . I worked on certain other assignments in GFC as well as got to learn certain other works such as. †¢I learnt the exact way of punching the documents. Because this to the first thing that one who gets to learn while in an office as instead of abruptly punching it one should first fold it and than keeping in line with the middle of page one should punch. †¢I learnt how the documents are filled and used to do a lot of filing. I went through typing certain application and letters. †¢I worked how data is feed in the computers. †¢I learnt how the phones are attended. †¢I used to go to banks for obtaining the statements for settlement of accounts. †¢I passed daily entries in the Journal and ledger accounts. †¢Documents relating to taxation purposes were also filled by me 4. OBJ ECTIVES OF STUDYING THE ORGANIZATION a)To promote efficiency and effectiveness by providing competent and high-caliber professionals in the area of Management Accountancy. b)Identify the duties of the financial manager within the firm. )Understand why wealth maximization, rather than profit maximization, is the firm's goal and how economic value added (EVA), d)To analysis what plays the role of Banks with the Firm. e)To estimate a firm's profitability relative to its sales, asset investment, & owners ‘equity investment. f)In fact, we have studied in GFC Private Limited Company because it is committed to these following Business Principles. 5. THE BUSINESS PRINCIPLES OF GFC A. Corporate Philosophy Maintaining a global viewpoint, GFC is dedicated to supplying products of the highest quality yet at a reasonable price for worldwide customer satisfaction. )Dynamic manufacturing and marketing of prestigious products to the entire satisfaction of customers. b)Create ideal working env ironment for continuous development of product and personnel. c)Provide adequate return to share holders and fulfill corporate civic obligations. B. Management Policy a)Proceed always with ambition and youthfulness. b)Respect sound theory, develop fresh ideas, and make the most effective use of time. c)Enjoy your work and encourage open communications. d)Strive constantly for a harmonious flow of work. e)Be ever mindful of the value of research and endeavor. )Respect for all – man has priority over others. g)Man is the key in controlling i. e. machines, methods and materials. h)Follow 3S spirit i. e. small, smart and speed. i)Believe in 3A â€Å"GFC on Approach† i. e. be on Actual Spot, look at the Actual Spot and confront the Actual Situation. j)Be a good corporate citizen; assume a responsible role in community. C. Priority Standards Of Conduct a)Safety: There can be no production without safety. b)Quality: To achieve the No. 1 customer satisfaction, Metro is dedicat ed to supply the prestigious products of its highest quality, through our smart team work. )Productivity: With safety and quality each of it will strive to excel the performance in all fields of its activities i. e. Production, Marketing & Planning, After Sales Service, Finance, Logistics & Imports and Human Resource & Administration etc. D. Quality policy To achieve the No. 1 customer satisfaction, GFC is dedicated to supplying the prestigious products of its highest quality through its smart team work defined by the regulatory parameters & continually improving its strategies and goals for better performance. E. Environment policy GFC (Pvt. Ltd Gujrat (Pakistan), being responsible member of the society considers the preservation of the global environment as a crucial concern. GFC’s environmental philosophy is firmly based on the following guidelines: a)Recognize the impacts of the significant aspects on the environment resulting from activities, products and services; b)For mulate objectives and targets to control the effects of activities on local environment as for as technically feasible; c)Operate in compliance with relevant environmental laws, regulations and other requirements that apply to its activities; d)Create environment friendly attitude among associates; )Commitment to continual improvement of the environmental performance and review of the environmental management system to ensure its suitability, adequacy and effectiveness. F. Safety, Health and Environment GFC (Pvt. ) Ltd Gujrat (Pakistan) conducts its business responsibly and in a way to make sure Health, Safety and protection from Environmental aspects of its associates and the society. GFC implements and maintains the programs that provide reasonable assurance that the business will do the following: a)To comply with all applicable government and internal health, safety and environmental requirements. )Design facilities and conduct operations in a way that avoids risk to human healt h, safety and the environment. c)To examine and communicate the known hazards of operations with relevant health, safety and environmental protection information to potentially affected persons. G. Operating principles a)Always keep the deadline. b)Never make excuses. c)Teamwork. 6. SUGGESTIONS During the training I have observed number of problems and here are some suggestions of my observations. G. F. C management has strong capability to increase the production rate by reducing the cost of production. It can be achieved by investing more in time span; research studies and reengineering related department structure. Concluding points: ?In accounts department there is no well define job description. There must be a list of duty for each employee. ?There is no management in working environment. They should adopt a management functions in their department. ?Human Resource and Accounts department should hire at least two employees more. ?In HR department, there must racks for files. ?Vision Statement is to long, it must be one or two sentences ? G. F. C still emphasizes on production concept ?There is very less monitoring so there is need to be tightening the control by using digital monitoring system in account department. ?Local market of gujrat area can be captured ?G. F. C system is based on Microsoft window 98, so it should be upgraded as in market window xp is available. ?MIS system should be very efficient that manual work can be eliminated. ?R&D department in G. F. C is not very much active so management should have to investigate and invest more to overcome this. Every department should initiate research work that provides technical support to find out hidden facts that are the primary source of irregularities. ?Efficient employees and fresh management team with latest and modern techniques and valuable exposure can figure out managerial problems. ?There is less commitment among the workers. To improve this situation worker’s problems should be addressed properly. ?Top management should be awarded by stocks ( shares) for getting more efficient work and involvement in the organization. ?There must be proper uplifts and reward system for the encouragement of employees. G. F. C has very few targeted markets they have to explore more to enhance their profitability and worth. ?Salary packages are not very much attractive for the employees which should be revised. ?G. F. C is doing well but it should add-up the doing good factor (Society’s benefits). For awareness workshops and seminars should be conducted regularly. ?Appraisal report should be prepared on merit rather than on personal biasness. ?Up to date promotional strategies should be adopted (print and electronic media). ?For selection of price and new consumers need, company should conduct market survey. G. F. C is presently targeting only a small number of markets and there are still a large segment of markets which can be explored. ?More the export the more the profit will be; because of this G. F. C can enjoy a lot more profit than existing. ?G. F. C can easily expand its businesses through external debt because of its already built credibility. ?By the reduction in cost of production G. F. C can enjoy the more profit margins. ?If the employees discipline and control mechanism should properly apply then it will results more involvement and output. By introducing more brands and designs by adequate use of R&D G. F. C can grow more ? G. F. C still adopting production concept. There must be forward thinking ? G. F. C must investment in outside the business. ?Less monitoring or check and balance. There must be check and balance. 7. REFERENCES ?Director marketing (Nabeel Ahmad) ?Director Finance and Purchase (Ijaz Ahmad) ?General Manager Finance (Shahid-ur-Rehman) ?www. gfcfans. com ?www. google. com ?Chief Accountant(Muhammad Imran) ?Accounts Officer (Nasir Khan) ?Assistant Accountant (Mian Abdul Haseeb) . APPENDICES ?Job Description Form Job title: ________________________________________ Summary descriptio n: _____________________________ _______________________________________________ Major tasks and responsibilities: _______________ _____ ___ _______ ______________ ______________________ ___________ ________________ ___________________ Minor functions: _ _______________ ___________ _____ _ ________________ ____ _______ ___________ ______ Supervised by & report to:____________ ______________ _ ________________ ____________ ____________ _____ Supervise:_ _______________ _______________________ Assist with other jobs:_ ________________ ____________ _ ________________ ___________ ________ ____ _____ Qualifications & training: ___ ____________________ ___ _ ________________ ___________ ___________ ______ _ ________________ ___________ ___________ ______ Skill requirements:___________ _________ ___________ _ ________________ ___________ __________ ______ _ ________________ ___________ ____________ ______ Experience: _________ ___________ _______ ___ ______ Personal characteristics required:__ _____ _____________ ________________ ___________ ________ __________ Physical requirements:__________ _______ ____________ Salary range: minimum:_____ ______ maximum:__ ______ Work hours: _____________ _______________ _________ Average hours: ___ _________ ____________ _________ _ Days off per week:_ ________________ ______ _________ Overtime: never: _______seldom: ________ often: _______ Other benefits:_ ________________ ______________ ____ ________________ _______________ _________________ Work environment:_ _______________ ________ ________ _ ________________ ______________ ___________ _____ Safety responsibilities:_ ________ ________ ____ ________ _ ________________ ______________ ______ ________ _ _ ________________ _______________ _____ ________ 9. CONTACTS OF INTERNEE & ORGANIZATION: Internee’s ContactsOrganization’s Contacts Afzaal Ahmad S/O Muhammad InayatGeneral Fan Company, Private Limited Mailing Address: Mailing Address: General Fan Company G. T. Road, Gujrat-Pakistan. Cell :+92-300-5448133Telephone: +92-53-3520301-03 E-mail ID: [email  protected] com afzaal. [email  protected] com [email  protected] com Fax: +92-53-3521427-3515303 Email: [email  protected] com