AN ORGANISATION STUDY AT KELTRON CONTROLS Submitted in partial fulfillment of the requirements for the award of the degree of Master of Business Administration By LAKSHMI S Under the Guidance of DR INDIRADEVI R ASSOCIATE PROFESSOR 17780003111500 JUNE 2018 CERTIFICATE This is to certify that this Internship Report is submitted by LAKSHMI S
AN ORGANISATION STUDY AT KELTRON CONTROLS
Submitted in partial fulfillment of the requirements for the award of the degree of Master of Business Administration
Under the Guidance of
DR INDIRADEVI R
This is to certify that this Internship Report is submitted by LAKSHMI S, Reg. No. 17MBA0083 to VIT Business School, Vellore Institute of Technology (VIT), Vellore in partial fulfillment of the requirements for the degree of Master of Business Administration is a bonafide record of work carried out by her under my supervision. The contents of this report, in full or in parts have not been submitted in any form to any other institute or university for the award of any degree or diploma.
Faculty Guide Dean
Internal Examiner External Examiner
I, LAKSHMI S(17MBA0083), a Bonafide student of the VIT Business School, Vellore Institute of Technology (VIT), Vellore, hereby declare that the Internship Report submitted in partial fulfillment of the requirements of the Degree of Master of Business Administration of the VIT University, is my original work.
Date :Place: Vellore
I place on record my sincere thanks to the Management of VIT for providing an opportunity to connect with industries that has supplemented the class-room learning. I place my sincere thanks to Dr.Ashok, Dean, VIT Business School for his support and encouragement in carrying out this institutional training successfully.
I would like to extend my sincere thanks to Prof. Dr.Uma Pricilda J,,Programme Chair MBA,and all other faculty and staff members of VIT Business School for their support and assistance.
I would like to express my sincere gratitude to my training coordinator, Benoy Peter for guiding me throughout my summer internship. His encouragement, time and effort are greatly appreciated.
I express my deepest thanks to college guide Dr.Indiradevi R for taking part in useful decision & giving necessary advices and guidance. I choose this moment to acknowledge her contribution gratefully.
I would also like to thank my parents for supporting and encouraging me to complete this training.
LIST OF CONTENT
1 ORGANIZATION ANALYSIS 9– 27
1.1.1 ORGANISATION 9
1.1.2 MISSION 9
1.2.1 STRUCTURE AND PERSONNEL 10
1.2.2 MANAGEMENT 12
1.2.3 FINANCIAL ASPECTS 13
1.2.4 PRODUCT PROFILE 13
1.2.5 FUNCTIONAL DEPARTMENTS 15
18.104.22.168 Human Resource Department 15
22.214.171.124 Marketing Department 19
126.96.36.199 Finance Department 24
2 INTERNSHIP ANALYSIS 28
3 APPLICATION OF MANAGEMENT THEORY 29 – 30
3.1 CHAOS THEORY 29
3.2 PORTER S FIVE FORCES MODEL 29
3.3 SCIENTIFIC MANAGEMENT THEORY 30
3.4 CONTINGENCY THEORY 30
4 INTERNSHIP EXPERIENCE 31 -32
4.1 FINDINDS 31
4.2 SUGGESTIONS 31
LIST OF FIGURES
1 KELTRON Brochure 9
2 Organizational chart of KELTRON 10
3 Organizational chart of Human resource department 19
4 Organizational chart of Marketing department 23
5 Oracle SeaMonkey 25
6 Organizational chart of Finance department 27
7 Porters 5 Forces 29
LIST OF TABLES
1 Expansion of Short forms 11
2 Board of Directors 13
Management principles can be taught in class rooms but managerial skills can be developed in an individual only. When he is trained so. As job are rare and lots of people are equally qualified what makes the student different is his familiarity with corporate practices, processes and this study is also attempt to make the trainee familiar with a public sector manufacturing company.
An Organizational study was conducted at Keltron Controls, Kerala. The objective was to identify organizational structure of the company, functions of various departments, gain practical knowledge about the functioning of various departments of the organization. The scope of the study was confined to a few selected departments and their functions.
The information collection were both from primary and secondary sources .The primary source of information gathering with top administration, interviews with workers, casual chats with representatives. The secondary source of information collection were the yearly report, inventories, and so on.
This report is presented in four chapters. The first chapter describes the organization in detail. The second chapter is Internship analysis. Third chapter is application of management theory. The fourth chapter describes the internship experiences.
Keywords : Keltron controls, objective, scope, data collection
The Kerala state Electronics development corporation (KSEDC) prevalently known as Keltron was established in 1973 as the primary Electronics Development enterprise in India in the state Government Sector. The Keltron group contained the holding organization, KSEDC and ten auxiliary and partner organizations turning out in excess of hundred unique kinds of items. These items are advertised through a solid deals and dissemination organize crossing the whole nation. Eight branches situated at Ahmadabad, Bangalore, Calcutta, Chennai, Delhi, Hyderabad, Mumbai and Trivandrum to guarantee that the items are upheld by committed help and administration.
Keltron today is ready to give a entire range of products, solutions and services to its buyers in the territory of Electronic parts, Consumer Electronics, Cybernetics, Communications, Industrial Electronics, Control and Instrumentation Information Technology, Strategic Electronics and Traffic administration frameworks. Keltron offers ability as a framework house to configuration, design, arrange, supply, introduce, commission, and keeps up vast ventures and gives modified arrangements. A very decentralized working theory was followed in rebuilding the association.
KELTRON is a multi-product organization creating an extensive variety of items from discrete hardware parts to complex gear and frameworks. Keltron makes these items in six Production Centers and two backup organizations situated in various parts of Kerala. The items are conveyed to the clients through Offices in Mumbai, Delhi, Kolkata, Chennai, Bangalore, Ahmedabad, Hyderabad and Trivandrum.
Keltron is one of the significant public sector organizations in Kerala. Its proprietorship is totally held by legislature of Kerala. Keltron Controls Aroor(KCA) was begun as its Control and Instrumentation division. Be that as it may, amid the late 90`s on account of the globalization of Indian market and the difference in vitality area changes the control and instrumentation business in India has turned out to be dull. Keeping in mind the end goal to use its sit without moving capital and framework Keltron Controls Aroor were rebuilt in four self-benefit creating vital specialty units (SBU`s). The exercises of SBUs are suppoerted by Common Service Groups (CSGs).
Fig 1 KELTRON Brochure
The mission of Keltron is to transform itself to one of the Navratna corporations of the country. To achieve this mission, the organization has set a clearly defined strategy in motion encompassing its core strengths: experienced human resources, robust infrastructure for high quality manufacture, commitment to quality, and continuous research and development.
1.2.1 STRUCTURE AND PERSONNEL
KELTRON AROOR COMPLEX (KELTRON CONTROLS & KELTRAC)
1943100134620Chief General Manager
00Chief General Manager
4667250287655001837055130302000 An Autonomous Institution
3771900197485Keltron Tool Room &Training Center
00Keltron Tool Room &Training Center
1257300252095Common Service Group (CSG)
00Common Service Group (CSG)
GM GM GM GM
4521835103505 FINANCE (F)
00 FINANCE (F)
24130067310QA / P&S / PPD
00QA / P&S / PPD
2057400223520Supply Chain Management
00Supply Chain Management
Fig 2 Organizational chart of KELTRON
SBU – Strategic Business Unit QA – Quality Assurance
PNG – Pneumatics Group P & S – Plant and Services for General maintenance
CIG – Control and Instrumentation PPD – Products for Disabled people
STSG – Strategic Service Group GM – General Management
ITG – Information and Technology Group MTLS – Materials Management
CSG – Common Service Group ADMIN – Administration Departments
HR – Human Resources Management F – Finance Department
MIS – Management Information Services
Table 1 Expansion of Short forms
Keltron’s capabilities lie mainly in the large pool of experienced technical manpower specialized in the assimilation, adoption and integration of technology for creating innovative solutions; strong infrastructure; and a fierce obsession to quality.
Large Pool of Experienced Technical Manpower
Keltron’s aptitude in top notch fabricating is the immediate aftereffect of the exceptionally talented, multi-disciplinary group of graduate designers, venture administrators and a gifted workforce with a demonstrated reputation in complex exactness producing.
Right now, Keltron utilizes a work power of minimal more than 1,500 of which around 30% are engineers who have broad hands-on involvement in innovation reconciliation and appropriation, and in overseeing cutting edge fabricating tasks. Labor at Space Electronics area has been extraordinarily prepared at Indian Space Research Organization (ISRO) in high-unwavering quality fastening, bridling and QC.Keltron additionally gives specialized labor to significant associations like ONGC, VSSC, NPOL Election Commission.
Strong Infrastructure and manufacturing Experience
Keltron’s strong point has dependably been top notch assembling of electronic items. Amid the previous 30 years, Keltron has produced an entire scope of electronic items, electro-mechanical and high exactness modules and sub congregations for various industry fragments.
Throughout the years, Keltron has developed a solid foundation spread more than 700,000 sq ft of developed territory. Furnished with PC based office for framework outline and designing, and programming advancement apparatuses for installed frameworks, Keltron today is completely outfitted to offer in coordinated assembling solutions.In expansion to the assembling offices for Power hardware, Defense, control and Automation and so on following offices have been made as basic test offices for Electronic Industry.
Towed array manufacturing facility and testing facility
ET/ESS Test facility
Contract manufacturing facilities with SMT lines
Commitment to Quality
Guaranteeing quality is a ceaseless on-going procedure at all generation units of the Corporation. Every office has a Quality Department whose business is to see that every single quality standard are entirely clung to in the assembling procedure. Items fabricated by these focuses comply with global models, for example, IEC 62040 Part 2;3, IEC 146, IEEE 944, IEEE 344 and IS4540 among a few other item particular measures.
All real generation focuses and specialty units of Keltron are ISO 9000 affirmed. Inspectorate of Naval Armament (SINA-T) has executed their altered quality frameworks at Keltron Equipment Complex, Trivandrum. Capacitors, Crystals and Resistors producing plants are ISO confirmed and have been conceded LCSO endorsement.
Keltron’s innovation construct is developed in light of the establishment of specialized coordinated efforts with world pioneers like Control Bailey France, GEC Alsthom, Hitachi Japan, Asea Brown Boveri Switzerland, Kent, Dessault France and so on. Ideal from the times of origin, Keltron had a reasonable vision of the part of innovation in the advancement procedure and set up a vast foundation for this reason as Electronic Research and Development Center (ER&DC) in a similar grounds. In course of time this foundation was assumed control by the Government of India, as C-DAC, Center for Development of Advanced Computing. Keltron has a course of action with C-DAC, for innovation advancement and adjustment.
Keltron is a Public Sector Enterprise owned by the Government of Kerala and is managed by a Board of Directors.
Sanjay.M.Kaul, IASSecretary (Industries Dept.)
Govt. of KeralaThiruvananthapuram Chairman
T.R HemalathaManaging Director KSEDC Ltd.Thiruvananthapuram Managing Director
V. Jayaprakash Director
V. Narayanan Director
Sreekala S. Panicker
Deputy Secretary (Finance Dept.)
Govt. of Kerala Thiruvananthapuram Director
Table 2 Board of Directors
1.2.3 FINANCAIAL ASPECTS
Current assets 190485129.3
Current liability 99126225.05
Net sales 261463591
Total assets 258676153.1
Current ratio 1.9 :1
The major source is from Solar boards. A MNRE endorsed Program Administrator for counseling and usage of Solar Energy Systems, Keltron has executed a task worth Rs 4.3 crore from KSEB, for 400 KWp grid tie sun based PV Plant at the Padinjarethara Dam site, Wyanad.
1.2.4 PRODUCTS PROFILE
KELTRON CONTROLS, is the main C and I group in their assembling range. This guarantees add up to control over the nature of the control and instrumentation frameworks not withstanding giving long lasting after deals support to the clients.
The product range includes:
9020 Analogue Control System: It is worked around practically autonomous modules and can be built to understand any control and observing functions.It utilizes half and half innovation partner direct simple circuits with advanced circuits.
Data Acquisition System: Offer incorporated arrangement with HIDIC 80 minicomputer or the circulated setup with the 32-bit microcomputer V90/25. Field input filtering and disturbing, Data logging, Performance computation, Operator direction, Man-machine correspondence, Historical capacity and recovery and in addition self-diagnostics.
Programmable Logic Controller: Exceptionally adaptable Microprocessor based and intended to perform rationale control capacities for interlock securities, successive and programmable control for process enterprises and plants.
Open Loop Control of Systems: Utilized in Process/Power Plant for the sheltered start-up/Shutdown and smooth activity of the plant and assistants, it guarantees high level of security for the task of fundamental supplies.
Annunciation System: Utilized to consistently screen plant alerts. It alarms the control room administrator with sound and visual gadgets.
Sequential Events Recorder: A microchip based framework for checking, disturbing and logging of the status of different control and security related gadgets. Gives a consecutive occasion recorded of process unsettling influence. It settle an occasion inside a determination of 1m.sec.
Distributed Digital Control System: Distributed Digital Control System is mainly used in thermal industries. Hiacs-3000 DDC System:. Hitachi’s coordinated control framework for Power Plants gives finish man-machine correspondence and complex control capacities including rationale control. Configurable in a disseminated various levelled structure through its secluded equipment and programming engineering, if offers high level of noise resistance with fiber optic high way or curved protected links relying upon application.
P-4000 DDC System :
For Process Industries, it gives useful and topographical partition of autonomous units, extending the skylines, handling force and framework design for the control of mechanical process. The P-4000 is given plant control and show framework, which offers topographical and useful appropriation of little to expansive frameworks having up to 4000 complex plant things without yielding the reaction to typical and irregular plant changes.
K-90 Integrated Control System: Worked around intense LSI 11/73 with smart Operator Console must be designed from standard bundles to meet the specific control, nonstop control, SCADA and so on.
Tank Level Gauging System:. Servo-controlled, most progressive microchip based tank level checking framework guarantees exact level estimation
Gas and Water Quality Analyzers : Finish extend for on-line estimation and control of pH, conductivity, broke up oxygen, silica, vent gas oxygen, and so on.
Electronic Transmitters: Elite small scale relocation inductance compose electronic transmitters – Deltapi KELTRON CONTROLS, arrangement as a team with M/s. Kent Tieghi, Italy.
Control Drives: Twofold acting pneumatic Power Cylinders intended to work precisely in outside, destructive or dusty climate and meets all control prerequisites.
Control Panels and Cabinets: Control work areas and boards fabricated according to clients prerequisite, System bureau has been intended to house every one of the 9020 modules and power supply.
1.2.5 FUNCTIONAL DEPARTMENTS
KELTRON CONTROLS, has different departments. They are :
Human Resource Department
Quality Assurance Department
Assembly Shop Department
188.8.131.52 HUMAN RESOURCE DEPARTMENT
The fundamental job of administration of any business is the powerful usage of accessible human asset for the accomplishment of business destinations. The human asset in an association ought to be propelled and dealt with most extreme care to motivate, urge and induce them to contribute their greatest for the accomplish of hierarchical destinations. They are thought to be the profitable resource since it is individuals which influence different advantages for move.
In Keltron there is a specific division known as faculty and organization, which sees to both work force and managerial capacities. The workers encounter extend from 12 to 25 years. The organization has a Human Resource Development program whereby instructional courses at work is given. Key specialized work force are prepared by colleagues of providers of apparatus to supervise on the handling of the capacitor and upkeep of hardware.
RECRUITMENT AND PLACEMENT
Recruitment is the way toward looking for the forthcoming contender for the business and spurring them to apply for the same . This procedure of seeking is known as enrollment.
In Keltron the source of recruitment is external. Being an public organization, as and when an opportunity emerge, the Personnel Department decides the quantity of workers and advises the employee exchange and appropriate candidates are given by exchange . Once an offer to an applicant has been broadened and acknowledged then the last phase of obtainment work is led. This is called as placement. After selection, the applicant is put on a six-month probation period. Simply after this probation period his work will be regularized.
At the point when a man joins the association he/she will be given acceptance preparing for a base time of multi month. After enlistment preparing, the individual will be given at work preparing for a time of one year.
Performance of every official and representatives is assessed through annual appraisal forms. If there should arise an occurrence of non-officials execution examination frames are to be filled at the season of advancement of worker. Advancement is given based on the scores of the appraisal form.
WAGES AND SALARY
Keltron landed at notice of settlement on 15 April 1996; in regard of wages, recompenses and incidental advantages; in light of the endorsement of Government of Kerala, KSEDC and Trade Unions. In MOS, the terms and conditions are material just for laborer. It likewise contains the rate of settled DA. For other staff workers there are different MOS.
ADMINISTRATION OF STANDING ORDERS
In Keltron, Standing Orders Act 1946 is appropriate to laborers in the mechanical business. This Standing Order characterizes organization administration, laborers, learner, leave, pay and so on. It is partitioned into various sections specifically benefit, laborers order address and different particulars, probation, rank, transitory arrangement, exchange, acknowledgment, advancement, pay, increase, leave and so on.
ALLOWANCES AND BENEFITS
Variable Dearness Allowances
It is the allowances given to the ordinary workers consistently. It shifts at regular intervals. It is settled according to All India Consumer Price Index, 1960 arrangement. As per average cost for basic items record VDA is given at 1% Basic Pay
House Rent Allowances
This is a allowance given to a representative by his boss with a specific end goal to repay the high rates winning in enormous urban areas. Keltron gives 10% of Basic Pay.
It is the stipends used to meet transport for performing office obligations. Laborers get Rs.25 as CA
The general shift is from 8:30am-4:30pm, and other three shifts are from 7:00am-3:00pm, 3:00pm-11:00pm, and 11:00pm-7:00am the workers who are in the other three shift separated from general shift are given pay known as move remittances.
Food Subsistence Allowance
There is decrease in the cost of nourishment by the organization to the representatives. The representatives should give just a single fourth of the cost of the nourishment.
All representatives are qualified for restorative repayment conspire. This plan likewise incorporates relatives. The measure of advantage is given on the term of administration of the workers.
The reserve is given later on. The reserve is credited by a piece of the sum deducted from the pay of workers consistently at find out rate. At the point when the resigns from the organization, he/she gets this sum as lumpsum alongside enthusiasm on it. In Keltron 12% of the compensation is given as PF. The compensation being comprehensive of remittances.
Yearly reward is given to workers at the very least rate of 8.35% on compensation up to Rs.3500/month. For this situation pay incorporates Basic pay and Dearness Allowance. Celebration Allowances ought to be given to representatives at the season of celebrations. Marriage Allowances, Home credit, Vehicle Loan are likewise given. Pay is either offered straightforwardly to representatives or stored in bank according to worker’s directions.
BLOOD DONATION FORUM
Keltron is having blood donation forum with help from representatives for giving the blood to the destitute individuals. The IT Department helps in looking at blood group. The administration has likewise chosen to permit one day leave for the blood donor.
Laborers not going under the preview of ESI plan will be allowed hospitalization leave to a surviving of 30 days/3 years if there should be an occurrence of government hospital.
Each worker is given a different card with a particular number having four digits. The specialists, representatives, bosses and officials have distinctive numbers. Electronic Punching System is utilized as a part of Keltron to record the season of passage and exit of every worker. In second half late coming isn’t permitted. Participation is made a critical component of representative execution. A worker who is absent for more than fixed number of days, is alerted and if required important action is made.
Welfare activities carried out in KELTRON CONTROLS, include subsidized food at canteen, subsidized travelling in company bus, and provide ESI (Employees State Insurance) to the permanent employees with salary less than 10,000. ESI is a social security scheme for organized employees in an organization by Central government.. Gratuity and provident fund Uniform is supplied for factory workers.
Welfare exercises did in KELTRON CONTROLS, incorporate sponsored nourishment at canteen, subsidized travelling in organization transport, and give ESI (Employees State Insurance) to the permanent workers with compensation under 10,000. ESI is a standardized savings conspire for composed workers in an association by Central government.. Gratuity and provident fund Uniform is provided for assembly line laborers
KEO (Keltron Employees Organisation)
DKEU (Democratic Keltron Employees Union)
ORGANIZATIONAL CHART – HRD
Fig 3 Organisational chart of Human Resource Department
184.108.40.206 MARKETING DEPARTMENT
Marketing is a standout amongst the most critical agent elements of administration. Marketing is a human action coordinated at fulfilling needs and needs through trade process. It incorporates all assets and pitching exercises important to coordinate and encourage the stream of products and ventures from makers to customers during the time spent circulation. The achievement of an organization relies upon the worthiness of its items in the market.
The goal marketing department is to satisfy client needs and increment sales.
4 P’S OF MARKETING MIX
The product of KCL are pcbs, arrays, power electronics. These are industrial oriented product which is a component of electronic goods like TV, Refrigerator, and Computers and defence etc.
The cost of capacitors are settled such that isn’t too high, that clients can’t bear the cost of it nor too low that they can’t acquire the cost of creation. Nearly the cost of capacitors of KCL high however that being said they can withstand in the market in light of the great quality. Cost is settled based on the cost, request and competition.
KCL do their sales through
All over India KCL have dealer arragement.. It has branches in urban communities to be specific; Ahmadabad, Calcutta, Delhi, Chennai, Hyderabad, Trivandrum. The organization sells the product to approved dealers who sell it to the retailers which are sold by them to extreme clients. Dealers are given rebates and the organization offers extra rebates if there should be an occurrence of fast installment and to regular clients. Organization fixes target deals for the dealers and on the off chance that they prevail with regards to meeting the settled target they are offered commission toward the finish of the year. A portion of their clients are given rebates based on the turnover which is named as Turnover markdown. KCL is likewise occupied with guide deals to the clients on the off chance that it’s a mass request.
The product of KCL is a component which is a industrial product and in this way they require not utilize any type of commercial. Yet, they do participate in exhibitions and lead workshops to promote their product. In this way they don’t require colossal speculation for sales promotion.
Agents are appointed in light of the fact that it isn’t workable for the organization to take into account the need of the considerable number of clients who are arranged at different urban communities of which are a long way from their branches. Agents are selected according to the suggestion made by the branch officers to the administration.
Criteria for arrangement of a agent are the accompanying:
A agent ought to have a business in the potential territory or in the specific business. The individual to selected as the dealer ought to be monetarily solid. The agent ought to have adequate specialized information to manage client issues. The agent ought to have adequate market and in addition office. The individual named as agent ought to have great contacts in the business. In the wake of fulfilling the above conditions the appointed agent goes into a contract with the organization which is marked both by the agent and in addition the vice president and the advertising chief of the organization.
For fast and better income, money rebate at 3% might be offered to the clients for payment by DD/Local Check against delivery/receipt of the materials. The dealers, whose prior bills are remarkable for over 75 days from the date of receipt, won’t be qualified for money rebate.
The products made by Keltron are not buyer merchandise as they are utilized for facilitate generation so it has no necessity to spend tremendous sum on promotions. Commercial
along these lines given is, dealer shared advertisement. Dealers are permitted to release advertisement in daily papers and media on shared basis. Organization would share half of the advertisement cost subject to 0.5% of the turnover accomplished in respective financial year.
As some other firm Keltron additionally utilize both direct distribution system and dealer network. Prior emphasis was given to direct network yet now-a-days greater part of the deals is through dealers. There are approved dealers for the organization who complete the required sales activity.
MARKETING PLAN AND STRATEGY
Consistently Marketing Department settles a yearly and quarterly target with the approved
dealers by consulting the generation with respect to the probable interest for the product. Further it gathers data from its clients and on this basis the organization may alter the
production necessity to suit the client’s prerequisite likewise division of the market is
done based on clients and appropriateness. This procedure encourages the organization to pick the best market where it can be an intense contender.
Keeping in mind the end goal to achieve greatest client support importance is given for after sales services.
Keltron additionally appreciates diagnosing and understanding client grievances.
MARKETING DEPARTMENT ORGANIZATION CHART
Fig 4 Organizational chart of Marketing Department
220.127.116.11 FINANCE DEPARTMENT
Finance has been characterized as the source of cash. It studies the rule and raising, managing and controlling of assets in business. The nature of financial management refers to its functions, scope and objectives. The scope and coverage of financial management have undergone fundamental changes. In the early year of its development it was viewed as a branch of economics identifying with the raising of assets. In any case, now, in current literary works relating to this developing control the extension has changed enormously in order to incorporate into expansion to the raising of assets, the proficient utilization of accessible assets. This concept is now universally accepted and recognized.
Financial management is concerned with planning, organizing, directing and controlling financial activities of an organization. It is concerned with sources and uses of the fund. It is related with proper management of fund.
Finance management is about arranging, sorting out, coordinating and controlling financial activities of an organization. It is concerned about sources and uses of the fund. It is connected with proper administration of fund. The financial functions are:-
Investment or long term asset mix- decision
Financial or capital mix decision
Dividend or profit allocation decision
Liquidity of short-term asset mix decision
Setting different money related execution guidelines, changing these time to time.
Preparation of master control budget in view of office budget, forward by Head of Departments.
Monitoring of key money related ratios.
Planning and implanting the development methodology of the organization.
Maintenance account, planning of yearly record, yearly reports and so on.
Cost study and output.
WORKING CAPITAL MANAGEMENT
Managing funds are required for giving assets like material, man, machine and so on to support the task of the organization on an everyday premise. In addition to reserves, if the organization requires extra working capital, the terms are consulted with the loaning establishments. Understanding is likewise made with brokers for non-support help like foundation and letter of credit in back of abroad providers, banks ensure and so forth.
The organization has effective external auditors. Additionally there is proficient internal check system. Other than this statutory examiners named by the organization law board review the records, records of the organization. After completing audit, a copy of the report is sent to the bookkeeper and furthermore introduced before the investors. If there are any remarks from the evaluators, investors, the organization ought to give adequate clarification to these remarks. In addition to this ISO audit is completed.
?Bank payment voucher
They have softwares as Oracle seamonkey to store and generate journal, ledger, generate receipts and Tally ERP9.
Fig 5 Oracle Seamonkey
KEEPING ACCOUNTING RECORDS
Records kept up in the finance and accounts departments are kept opened racks. Current records, books, subsidiary registers, salary sheets are under the authority of concerned faculty the advantage enroll is kept with the HOD. Rank cash books, journal books, salary records, purchase diary, sales day book and other backup enroll of earlier years are kept in the record room adjoining the records divisions. Vouchers relating to 8 years are kept in boxes saying names of the vouchers and year on the cases in the record room.
REVENUE ACCOUNTING POLICIES
The records are set up under the historical cost of bookkeeping and assessed on a going concern basis with incomes perceived and costs accounted
Some of the revenue accounting policies is:
Fixed assets and depreciation
?Foreign currency transaction
Fig 6 Organisational chart of Finance department
This internship gave us an experience about the actual way of working in the public sector organizations which is different in many ways from the functions of the private sector organizations. Many things present in a private sector was not exactly followed in KELTRON.
They also make sure that the quality of the products manufactured are taken care of properly that is why they go through various stages of inspection, starting from testing the quality of the material to ensuring the strength if the end product. In the case of outsourcing KELTRON the raw materials to the vendors by themselves to avoid any fraudulent activity, this helps KELTRON to stand out from its competitors.
There were also few limitations while getting the information from KELTRON being a public sector company , KELTRON gives the interns good opportunity to analyze and understand their way of working, but there is a small limitation when it comes to sharing the information, they are quite reluctant when it comes to sharing information about the financial activities and also the various internal issues going on in the organization , they probably feel this could indirectly affect their reputation with the public.
APPLICATION OF MANAGEMENT THEORY
This says that change is inevitable, dynamic and an important part of an organization in a long run, public sector companies’ work in particular order based on their code of conduct, but with new technologies coming up all the time it is important to adapt with the changes in order to survive in the market against the competitors. Hence, KELTRON manages to implement these change in the best possible ways based on the public sector norms.
PORTERS FIVE FORCES MODEL
Fig 7 Porters 5 Forces
Threat of new entrants : Keltron is presently facing threat of entries of new firms.,High competition.
Threats of substitutes : Decrease in market demand ,Product differentiation ,High advertising costs.
Bargaining power of suppliers : The suppliers have the bargaining power to demand what they want
Bargaining power of buyers : KELTRON has no bargaining power because there is many other rival companies.
Rivalry among existing firms : It is common in this field.
SCIENTIFIC MANAGEMENT THEORY
Fayol’s 14 principles of management has been a major part of the scientific theory, out of which many of the principles can be seen in practice now a days
Unity of command
Unity of direction
Remuneration of employees etc
This theory says that mangers take decision based on the situations at hand rather than a one go solution, this applies in KELTRON as it is a public sector organization and communication happens in a hierarchy, every single situation that arises is different in itself and the solutions are modified accordingly along with proper management of time.
Produces high quality products however at a similarly higher cost than its rivals.
Has a decent brand picture among general society because of the best quality TVs and other consumer products.
The current framework is partially computerized
The planning purchase, store are functions completed manually which is difficult that demonstrates a gap between the procedure and tasks.
Presence of good industrial connection with the neighborhood associations and there is more prominent collaboration amongst management and employees.
Reduction of cost is mandatory for company’s survival.
Electronic punching can introduced before and after lunch break to avoid time lost.
The company can provide discount to customers who are prompt in payment.
The company should adopt modern performance appraisal system.
Training has to be given to the service personnel’s to make after sales service effective.
Keltron has initiated steps to create knowledge and innovations in the electronic field .It is the one of the leading manufacturing companies in Kerala. It is ISO 9001certified functioning company. It has been always been able to provide high quality products. They have a well experienced technical experts and supporting staffs for the accomplishment of the goals of the company.
The Organization study in Keltron helps me to understand the various functions in an organization and how it is connected with our management theories. I got a good idea about the history and profile of “KELTRON” to enlarge my idea in the business world. And also the study has given me an insight into the working of an organization engaged in the production of electronic equipment. Here in this study I also found the problems faced by most public sector undertakings. I wish all the very best for the company and I once again express my gratitude to the entire persons who helped me to complete the organizational study.
Philip Kolter & Keller Kevin-Marketing Management-Pearson Education, India
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