Summer Training Report

On TRAINING OF EMPLOYEES AT

Submitted in partial fulfillment of the requirement of degree in Bachelor of Business Administration Of MAHARSHI DAYANAND UNIVERSITY, ROHTAK Session 2012-13 SUBMITTED BY: Name : BHAWNA Class : BBA V SEM. Class ROLL No Reg. No DWF-4330 : 4416 : ___10-

__

TABLE OF CONTENTS

SNO. 1. 2. 3. 4. 5. 6. 7.

PARTICULARS Introduction Company profile Research methodology Data Analysis & interpretation Findings &Conclusions Recommendations & suggestions Annexure Bibliography Questionnaire

PAGE NO.

Acknowledgement

I wish to express my heart felt appreciation to many have contributed to this project, both explicitly and implicitly. This is my privilege to express my deep felt gratitude to

Mr. SAMAR MAHAPATRA G.M. for providing me the opportunity to undertake

my summer training project at HR department of TALBROS ENGINIERING LTD. I want to express special thank to Mr. VIKAS GAUR (HRD) for their guidance.

I owe a deep intellectual debt to the numerous people who, through their varied contributions, have greatly improved my understanding of various issues related to my projects I am thankful to the members of the TALBROS ENGINIERING LTD. for sharing their insight sand experiences with me.

DECLARATION

I,SONAM SHARMA Student of BBA 5th SEMESTER studying at K.L.MEHTA DAYANAND COLLEGE, declare that the project work entitled WORKING CAPITAL MANAGEMENT. was carried by me in the partial fulfillment of BBA program under the MDU University, Rohtak.

This project was undertaken as a part of academic curriculum according to the University rules and norms and it have no commercial interest and motive. It is my original work. It is not submitted to any other organization for any other purpose.

Date Place:

Chapter No.: I

INTRODUCTION

SS
WORKING CAPITAL

A managerial accounting strategy focusing on maintaining efficient levels of both components of working capital, current assets and current liabilities, in respect to each other. Working capital management ensures a company has sufficient cash flow in order to meet its short-term debt obligations and operating expenses

Management of working capital

Guided by the above criteria, management will use a combination of policies and techniques for the management of working capital. The policies aim at managing the current assets (generally cash and cash equivalents, inventories and debtors) and the short term financing, such that cash flows and returns are acceptable.

Cash management. Identify the cash balance which allows for the business to meet day to day expenses, but reduces cash holding costs. Inventory management. Identify the level of inventory which allows for uninterrupted production but reduces the investment in raw materials - and minimizes reordering costs - and hence increases cash flow. Besides this, the lead times in production should be lowered to reduce Work in Process (WIP) and similarly, the Finished Goods should be kept on as low level as possible to avoid over production - see Supply chain management; Just In Time (JIT); Economic order quantity (EOQ); Economic quantity Debtors management. Identify the appropriate credit policy, i.e. credit terms which will attract customers, such that any impact on cash flows and the cash conversion cycle will be offset by increased revenue and hence Return on Capital (or vice versa); seeDiscounts and allowances. Short term financing. Identify the appropriate source of financing, given the cash conversion cycle: the inventory is ideally financed by credit granted by the supplier; however, it may be necessary to utilize a bank loan (or overdraft), or to "convert debtors to cash" through "factoring".

Calculating Working Capital

Working Capital is the easiest of all the balance sheet calculations. Here's the formula. Current Assets - Current Liabilities = Working Capital One of the main advantages of looking at the working capital position is being able to foresee any financial difficulties that may arise. Even a business that has billions of dollars in fixed assets will quickly find itself in bankruptcy court if it can't pay its monthly bills. Under the best circumstances, poor working capital leads to financial pressure on a company, increased borrowing, and late payments to creditor - all of

which result in a lower credit rating. A lower credit rating means banks charge a higher interest rate, which can cost a corporation a lot of money over time

Capital required for a business can be classified under two main categories via, 1) 2)

Fixed Capital Working Capital

Every business needs funds for two purposes for its establishment and to carry out its day- to-day operations. Long terms funds are required to create production facilities through purchase of fixed assets such as p&m, land, building, furniture, etc. Investments in these assets represent that part of firms capital which is blocked on permanent or fixed basis and is called fixed capital.

Funds are also needed for short-term purposes for the purchase of raw material, payment of wages and other day to- day expenses etc. These funds are known as working capital. In simple words, working capital refers to that part of the firms capital which is required for financing short- term or current assets such as cash, marketable securities, debtors & inventories. Funds, thus, invested in current assts keep revolving fast and are being constantly converted in to cash and this cash flows out again in exchange for other current assets. Hence, it is also known as revolving or circulating capital or short term capital.
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CONCEPT OF WORKING CAPITAL

There are two concepts of working capital: 1. 2.

Gross working capital Net working capital

The gross working capital is the capital invested in the total current assets of the enterprises current assets are those Assets which can convert in to cash within a short period normally one accounting year.

CONSTITUENTS OF CURRENT ASSETS

8

1) 2) 3) 4) 5)

Cash in hand and cash at bank Bills receivables Sundry debtors Short term loans and advances. Inventories of stock as:
a. b. c. d.

Raw material Work in process Stores and spares Finished goods

6. Temporary investment of surplus funds. 7. Prepaid expenses 8. Accrued incomes. 9. Marketable securities.

In a narrow sense, the term working capital refers to the net working. Net working capital is the excess of current assets over current liability, or, say: NET WORKING CAPITAL = CURRENT ASSETS CURRENT LIABILITIES.
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Net working capital can be positive or negative. When the current assets exceeds the current liabilities are more than the current assets. Current liabilities are those liabilities, which are intended to be paid in the ordinary course of business within a short period of normally one accounting year out of the current assts or the income business.

CONSTITUENTS OF CURRENT LIABILITIES

1. 2.

Accrued or outstanding expenses. Short term loans, advances and deposits.

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3. 4. 5. 6. 7.

Dividends payable. Bank overdraft. Provision for taxation , if it does not amt. to app. Of profit. Bills payable. Sundry creditors.

The gross working capital concept is financial or going concern concept whereas net working capital is an accounting concept of working capital. Both the concepts have their own merits. The gross concept is sometimes preferred to the concept of working capital for the following reasons: 1. 2.

It enables the enterprise to provide correct amount of working capital at correct time. Every management is more interested in total current assets with which it has to operate then the source from where it is made available. It take into consideration of the fact every increase in the funds of the enterprise would increase its working capital.

3.

4.

This concept is also useful in determining the rate of return on investments in working capital. The net working capital concept, however, is also important for following reasons:

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It is qualitative concept, which indicates the firms ability to meet to its operating expenses and short-term liabilities. IT indicates the margin of protection available to the short term creditors. It is an indicator of the financial soundness of enterprises. It suggests the need of financing a part of working capital requirement out of the permanent sources of funds.

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CLASSIFICATION OF WORKING CAPITAL

Working capital may be classified in to ways: o o On the basis of concept. On the basis of time.

On the basis of concept working capital can be classified as gross working capital and net working capital. On the basis of time, working capital may be classified as: Permanent or fixed working capital. Temporary or variable working capital

PERMANENT OR FIXED WORKING CAPITAL Permanent or fixed working capital is minimum amount which is required to ensure effective utilization of fixed facilities and for maintaining the circulation of current assets. Every firm has to maintain a minimum level of raw material, work- in-process, finished goods and cash balance. This minimum level of current assts is called permanent or fixed working capital as this part of working is permanently blocked in current assets. As the business grow the requirements of working capital also increases due to increase in current assets. TEMPORARY OR VARIABLE WORKING CAPITAL Temporary or variable working capital is the amount of working capital which is required to meet the seasonal demands and some special exigencies. Variable working capital can further be classified as seasonal working capital and special working capital. The capital required to meet the seasonal need of the enterprise is called seasonal working capital. Special working capital is that part of working capital which is required to meet special exigencies such as launching of extensive marketing for conducting research, etc. Temporary working capital differs from permanent working capital in the sense that is required for short periods and cannot be permanently employed gainfully in the business.

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IMPORTANCE OR ADVANTAGE OF ADEQUATE WORKING CAPITAL

SOLVENCY OF THE BUSINESS: Adequate working capital helps in maintaining the solvency of the business by providing uninterrupted of production. Goodwill: Sufficient amount of working capital enables a firm to make prompt payments and makes and maintain the goodwill. Easy loans: Adequate working capital leads to high solvency and credit standing can arrange loans from banks and other on easy and favorable terms. Cash Discounts: Adequate working capital also enables a concern to avail cash discounts on the purchases and hence reduces cost. Regular Supply of Raw Material: Sufficient working capital ensures regular supply of raw material and continuous production.

Regular Payment Of Salaries, Wages And Other Day TO Day Commitments: It leads to the satisfaction of the employees and raises the morale of its employees, increases their efficiency, reduces wastage and costs and enhances production and profits. Exploitation Of Favorable Market Conditions: If a firm is having adequate working capital then it can exploit the favorable market conditions such as purchasing its requirements in bulk when the prices are lower and holdings its inventories for higher prices.

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 Ability To Face Crises: A concern can face the situation during the

depression. Quick And Regular Return On Investments: Sufficient working capital enables a concern to pay quick and regular of dividends to its investors and gains confidence of the investors and can raise more funds in future. securities, confidence, high morale which results in overall efficiency in a business.

High Morale: Adequate working capital brings an environment of

EXCESS OR INADEQUATE WORKING CAPITAL

Every business concern should have adequate amount of working capital to run its business operations. It should have neither redundant or excess working capital nor inadequate nor shortages of working capital. Both excess as well as short working capital positions are bad for any business. However, it is the inadequate working capital which is more dangerous from the point of view of the firm.

DISADVANTAGES CAPITAL

OF

INADEQUATE

WORKING

Every business needs some amounts of working capital. The need for working capital arises due to the time gap between production and realization of cash from sales. There is an operating cycle involved in sales and realization of cash. There are time gaps in purchase of raw material and production; production and sales; and realization of cash.

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Thus working capital is needed for the following purposes: For the purpose of raw material, components and spares. To pay wages and salaries To incur day-to-day expenses and overload costs such as office expenses. To meet the selling costs as packing, advertising, etc. To provide credit facilities to the customer. To maintain the inventories of the raw material, work-in-progress, stores and spares and finished stock.

For studying the need of working capital in a business, one has to study the business under varying circumstances such as a new concern requires a lot of funds to meet its initial requirements such as promotion and formation etc. These expenses are called preliminary expenses and are capitalized. The amount needed for working capital depends upon the size of the company and ambitions of its promoters. Greater the size of the business unit, generally larger will be the requirements of the working capital. The requirement of the working capital goes on increasing with the growth and expensing of the business till it gains maturity. At maturity the amount of working capital required is called normal working capital. There are others factors also influence the need of working capital in a business.

FACTORS DETERMINING CAPITAL REQUIREMENTS

THE

WORKING

1. NATURE OF BUSINESS: The requirements of working is very limited in public utility undertakings such as electricity, water supply and railways because they offer cash sale only and supply services not products, and no funds are tied up in inventories and receivables. On the other hand the trading and
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financial firms requires less investment in fixed assets but have to invest large amt. of working capital along with fixed investments. 2. SIZE OF THE BUSINESS: Greater the size of the business, greater is the requirement of working capital. 3. PRODUCTION POLICY: If the policy is to keep production steady by accumulating inventories it will require higher working capital. 4. LENTH OF PRDUCTION CYCLE: The longer the manufacturing time the raw material and other supplies have to be carried for a longer in the process with progressive increment of labor and service costs before the final product is obtained. So working capital is directly proportional to the length of the manufacturing process. 5. SEASONALS VARIATIONS: Generally, during the busy season, a firm requires larger working capital than in slack season. 6. WORKING CAPITAL CYCLE: The speed with which the working cycle completes one cycle determines the requirements of working capital. Longer the cycle larger is the requirement of working capital.

DEBTORS CASH FINISHED GOODS

RAW MATERIAL

WORK IN PROGRESS

7.

RATE OF STOCK TURNOVER: There is an inverse corelationship between the question of working capital and the velocity or speed with which the sales are affected. A firm having

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a high rate of stock turnover will needs lower amt. of working capital as compared to a firm having a low rate of turnover.

8.

concern that purchases its requirements on credit and sales its product / services on cash requires lesser amt. of working capital and vice-versa.

CREDIT

POLICY: A

9.

BUSINESS CYCLE: In period of boom, when the business

is prosperous, there is need for larger amt. of working capital due to rise in sales, rise in prices, optimistic expansion of business, etc. On the contrary in time of depression, the business contracts, sales decline, difficulties are faced in collection from debtor and the firm may have a large amt. of working capital.

10. RATE OF GROWTH OF BUSINESS: In faster growing

concern, we shall require large amt. of working capital.

11. EARNING CAPACITY AND DIVIDEND POLICY: Some firms have more earning capacity than other due
to quality of their products, monopoly conditions, etc. Such firms may generate cash profits from operations and contribute to their working capital. The dividend policy also affects the requirement of working capital. A firm maintaining a steady high rate of cash dividend irrespective of its profits needs working capital than the firm that retains larger part of its profits and does not pay so high rate of cash dividend.

12. PRICE LEVEL CHANGES: Changes in the price level also

affect the working capital requirements. Generally rise in prices leads to increase in working capital.

Others FACTORS: These are:

Operating efficiency. Management ability.
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Irregularities of supply. Import policy. Asset structure. Importance of labor. Banking facilities, etc.

MANAGEMENT OF WORKING CAPITAL

Management of working capital is concerned with the problem that arises in attempting to manage the current assets, current liabilities. The basic goal of working capital management is to manage the current assets and current liabilities of a firm in such a way that a satisfactory level of working capital is maintained, i.e. it is neither adequate nor excessive as both the situations are bad for any firm. There should be no shortage of funds and also no working capital should be ideal. WORKING CAPITAL MANAGEMENT POLICES of a firm has a great on its probability, liquidity and structural health of the organization. So working capital management is three dimensional in nature as 1. 2. 3.

It concerned with the formulation of policies with regard to profitability, liquidity and risk. It is concerned with the decision about the composition and level of current assets. It is concerned with the decision about the composition and

level of current liabilities

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Chapter No.: 2 COMPANY PROFILE

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COMPANY PROFILE
The idea originated alongside the development of HVDC (high-voltage, direct current), a technology for the efficient transmission of large amounts of electricity. In 1992, ABBs development manager for the technology, Gunnar Asplundh, drew up a map detailing how renewable energy could be harnessed to meet the needs of our power-hungry populations. His scheme included wind farms, hydro- and geothermal plants, and a series of solar plants across North Africa, connected to Europe by high21

efficiency HVDC power links. In the 1990s, the map inspired dreams of the future. It is now the central theme of the Desertec project. Desertec aims to make this vision a reality by generating emission-free solar power in the Sahara, meeting up to 15 percent of Europes electricity needs and a significant amount of local demand in producer countries by 2050. Last month, a group of European companies led by insurer Munich Re pledged support for the project, amid rising concern over the economic impact of global warming. The full potential of renewable energy in Europe and North Africa is huge, said Joachim Schneider, head of ABBs Power Products division in Germany, when he addressed the Power-Gen Europe conference in Cologne earlier this year. Scandinavia alone has some 200 gig watts of
hydropower and 300 GW of offshore wind power, while southern Europe and North Africa have about 700 GW of solar power.

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Gunnar Asplundhs map showing ABB's vision of renewable power ABB has been a technical advisor to the Desertec Foundation for several years and has spoken about the project at a number of high-level conferences, most recently in May this year, at Power-Gen Europe in Cologne. Until relatively recently, the idea of generating solar power in the desert and transporting it thousands of kilometers to consumers in Europe was unthinkable. The problem was three-fold: there was a lack of efficiency in transmission; a lack of generation technology; and a lack of political will. But with improvements in the efficiency of power transmission and solar power technology, two of the hurdles are all but overcome. As the financial implications of global warming become clearer, the political will to drive projects like Desertec is building. Using HVDC transmission, a technology pioneered by ABB in the 1950s, it is possible to transfer power with losses of no more than 3 percent per
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1,000 km. With more than 90 percent of the worlds population living within 3,000 km of a desert, HVDC transmission lends ABBs vision enormous potential. Still the world leader in HVDC technology, ABB is working on a number of projects to strengthen the European grid. This includes the so-called European super grid, to feed power from offshore wind parks into the network, and efforts to increase the number of inter-grid connections, which will improve the flexibility and reliability of the grid. The most recently completed project was Nor Ned, between Norway and the Netherlands: a 580 km underwater link that enables the Netherlands to import emission-free hydropower from Norway when demand is high, and export excess capacity from its thermal power stations when demand is low. This exchange reduces need for thermal generation and avoids an estimated 1.7 million metric tons of greenhouse gas emissions every year. On the generation side, ABB is the leading supplier of systems and components for the wind industry and provides an extensive range of equipment, instrumentation and control systems to the hydropower sector. The Group has also been active in the solar industry since the 1990s. ABB also has extensive expertise in conventional power generation and how it must be adapted to support the incorporation of large-scale renewable generation. ABB now has a broad offering of power and automation solutions for the solar sector and continues to develop the specialist technologies that will be vital to the realization of projects like Desertec.
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ABB solar installations include the Entresol and And sol thermo-solar power plants in Spain, each with a capacity of 2X50-MW, and the pioneering 175-MW Hassi RMel integrated solar combined cycle power plant, in Algeria. ABBs turnkey delivery of the Totana photovoltaic plant in Spain in 2008, equipped with innovative solar trackers and patented optimization technologies to maximize the plants performance, demonstrated the breadth of the Groups offering to the sector. With much still to be done, ABB is working to support Desertec and provide the technological advances that will make large-scale solar power generation a reality.

Information policy ABB, as a publicly traded company, is committed to communicating in a timely and consistent way to shareholders, potential investors, financial analysts, customers, suppliers, the media and other interested parties. ABB ensures that material information pertaining to its businesses is disseminated in a manner that complies with its obligations under the rules of the stock exchanges where its shares are listed: the SIX Swiss Exchange and exchanges in Stockholm and New York. ABB publishes an annual report consisting of an Operational and financial review and a Sustainability review. The Operational and financial review provides information on the results of ABB's businesses. The Operational review also provides information on human resources, sustainability and corporate governance. The Financial review provides the audited financial statements for the reported year, as well as a management discussion and analysis of ABB's business results. The
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Sustainability review provides information on the company's performance in environmental management, social responsibility and employee health and safety. Apart from this annual report, ABB also submits an annual report on Form 20-F to the U.S. stock exchange supervision authority, the SEC. In addition, ABB publishes its results on a quarterly basis as press releases, distributed pursuant to the rules and regulations of the stock exchanges on which its shares are listed. Press releases relating to financial results and material events are also filed with the SEC on form 6-K. An archive containing annual reports, Form 20-F reports, quarterly results releases and related presentations and conference call webcasts can be found on the ABB Web site (www.abb.com/investorrelations). These presentations are not regularly updated but reflect developments within the company over time. The quarterly results press releases contain unaudited financial statements in accordance with U.S. GAAP.

Supply Management contacts in ABB How ABB assesses performance Our suppliers are a valued and integral extension of our enterprise. The overall performance of ABB's supply chain directly impacts our ability to support our customers' requirements. ABB is committed to improving supplier's performance through a standardized Supplier Performance Rating process. The process consists of a data-driven approach to regularly measure and provide feedback to

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suppliers. This feedback enables ongoing communication, continuous process improvement, and supplier development. Furthermore, this process focuses ABB and our suppliers on the critical business issues that must be addressed to better support ABBs customer requirements. The Supplier Performance Rating process measures and monitors the following Key Performance Indicators (KPIs): Quality Delivery % defect-free lots received % of all shipped received complete and on time, based on agreed Incoterms The Supplier Performance Rating score is then used as the basis for future sourcing decisions and for annual awards and recognition. What suppliers can expect from ABB ABB recognizes our suppliers as a valued and integral component of our company's long-term success. Therefore, ABB is committed to providing technical resources to our suppliers to support their development and enable them to achieve a sustainable competitive advantage. ABB is able to leverage its global resources and strengths to assist suppliers in areas such as continuous process improvement, lean manufacturing, and quality management. In participating in the Supplier Development Process, suppliers will share in ABBs R&D and technology capabilities. ABB contributes to strategic supplier development by customizing development plans, sharing resources and technologies, exchanging best
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practices, and monitoring performance. ABBs structured approach to Supplier Qualification, Supplier Performance Requirements, Supplier Performance Assessment and Supplier Development enables long term supplier success. Ultimately, this structured approach better supports our customers ABB's News center This Web site is designed to meet the needs of the media and people seeking the latest press releases and information issued by ABB. Press releases Press releases for business, technology and trade media Media resources Events, presentations, videos, photo gallery and glossary Media contacts Global and local contacts for media inquiries Feature articles How ABB's power and automation technologies are meeting customers' needs

ABB commissions worlds longest and most powerful transmission link The worlds first ultrahigh-voltage power superhighway starts commercial operation in China
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Zurich, Switzerland, July 19, 2010 - ABB, the leading power and automation technology group, has achieved another significant milestone with the commissioning of the Xiangjiaba-Shanghai project, the worlds first UHVDC (ultrahigh-voltage direct current) transmission link to go into commercial operation. ABB was the main technology supplier to State Grid Corporation of China (SGCC) and the project was completed in 30 months, one year ahead of schedule. The 800 kV Xiangjiaba-Shanghai UHVDC link has the capacity to transmit up to 7,200 megawatts (MW) of power from the Xiangjiaba hydropower plant in southwest China to Shanghai, the country's leading industrial and commercial center about 2,000 kilometers away. The new link is able to meet the electricity needs of about 24 million people, and sets a new benchmark in terms of voltage levels and transmission capacity, superseding the 600 kV (kilovolt) Itapa transmission line in Brazil, which was also delivered by ABB. 800 kV UHVDC will play an important role in providing China with access to remote renewable energy, a key focus area for us, says Zheng Baosen, Executive Vice President, SGCC. We are extremely pleased with the support and co-operation of ABB and the local Chinese suppliers during the execution of this project which enabled its completion in record time. The high-capacity power link comprises a single overhead line and occupies less space than the existing system. Moreover, transmission losses on the new line are under 7 percent, again, considerably less than the existing 500 kV system. The electricity saved is equivalent to the power needs of around one million people in China.

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 GENERAL INFORMATION ABB robots light the way for Indian automotive parts maker. 2009-06-03 - With a large share of Indias automobile lighting business, Lumax Industries relies on robot-based automation to ensure consistent high quality and low cycle times. Gurgaon used to be a small settlement in the Indian countryside but, thanks to its proximity to the capital, New Delhi, it has emerged as one of the fastest-growing cities in India. One of the early arrivals in Gurgaon was Lumax Industries Limited which established an automotive lighting plant there in 1985. Today it is one of Lumax Automotive Parts eight plants in India. The company accounts for more than 60 percent of the market share of the countrys automobile lighting business. Among its international clients are such well-known companies as the American tractor manufacturer John Deere, while its domestic customers include major Indian names including Maruti-Suzuki, Tata Motors and Mahindra & Mahindra. The auto market in India has been growing at about 25 - 30 percent per annum, says Lumax Industries Assistant General Manager (Projects), Shabaj Singh, as he surveys the assembly line of the Gurgaon operation In the last three years, Lumax has managed to match that with an annual growth rate of about 25 percent. In this kind of environment, it is vital that Lumax performs at a consistently high level. Lumax Automotive Parts prides itself on keeping abreast of the latest trends in production technology.

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Automating production The company made its first venture into automated production in the 1990s, taking delivery of six robots from its Japanese joint venture partner, Stanley Electric Company Ltd. Between 1998 and 2005, Lumax bought six robots from Vaccutek Automation Inc, Taiwan. The following year Lumax turned to ABB, which has since supplied the company with a total of 28 robots (IRB 140 and IRB1410 robot types). When it comes to choosing vendors, says Singh, there are four crucial factors for us: quality, cost, delivery and after-sales service. ABB meets all four of these requirements and thats why we now go with ABB. Lumax is very satisfied with the robots and with their performance. Hot melt adhesive The principal robot application within Lumax is the gluing of headlamp parts with hot melt adhesive. One specialty of the Gurgaon plant is the assembly of two-wheeler headlamps, mainly for Hero Honda motorcycles. An ABB robot is used to glue together the lamp bodys main components, the lens and the reflector. Half a dozen employees are trained to operate the robot although at any one time, only one person is required to oversee the operation the rest of the units parts are assembled manually. Lumax also has an ABB robot for training and hanging from the roof above the robot is a sign which proclaims in bold letters: Quality is Everybodys Responsibility. Increasing productivity The introduction of these robots was seen by Lumax not just as an improvement to the process but as an essential requirement, says Singh. For that reason, we dont really look at the issue of return on investment in the same way as a lot of companies. But Lumax has done its sums. We
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estimate that ROI payback time is 39 months per robot but this is not the decisive factor when looking at an essential capital investment of this kind. Lumax estimates the productivity levels using the ABB robots are significantly higher than when relying solely on manual labor: For every eight-hour shift, says the company, one hour of labor time is saved. For example, whereas manual production can produce 300 two-wheeler headlamps per hour, robot production can produce 345 finished pieces per hour. Similarly, the cycle time for the manual production of a twowheeler headlamp is about 16 seconds four seconds slower than with robot production. Inexpensive in global terms, skilled labor is not always widely available and can no longer be regarded as cheap. Indian companies wishing to compete in the global marketplace increasingly realize that Consistent high product quality Though unskilled labor in India is still relatively product quality is essential and to achieve this, modern equipment and manufacturing plant are crucial. Of course, productivity remains an issue, says Singh. But consistency and quality are the main factors for us and thats where the robots really earn their worth as far as were concerned. Also appreciated by the Lumax staff are the support and after-sales services provided by ABB engineers based at Faridabad, near Delhi.Its not so much that our ABB robots benefit any one individual in the company, says Singh. The way we look at it, they benefit the whole of Lumax Industries.

ABB in the Printing Industry ABBs solutions have proven their value in many printing installations around the world and offer substantial advantages regarding asset and

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value chain optimization. Their scope of operation ranges from the page planning, the digital workflow, the roll supply, the press automation up to the total planning and tracking of the entire production chain.

Newspaper Solutions

Solutions for newspaper printing Press automation and integrated workflow solutions for the entire newspaper production process.

Retrofit & Service

Retrofit solutions for newspaper printing presses ABB provides a complete spectrum of retrofit solutions for existing presses.

Service Our service is focused on enhancing our customers productivity and maximizing their return on investment.

MPS User Club

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The continuous dialog between supplier and user is a source of valuable information for every participant to reach top performance in daily newspaper production.

Chapter 3

Research Methodology.

RESEARCH METHODOLOGY

34

Research methodology is a way to systematically study the research problem. It may be understand as a science of studying how research is done scientifically. In it, we study the various steps that are generally adopted by researcher in studying his research problem along with the logic behind them.

A questionnaire was prepared for staff of the organization. My guide has told me to distribute questionnaire among assistant managers in various division. The data as primarily collected through structured questioners, which was collected from various executives (managers) TALBROS ENGINIERING LTD. The questioner comprises of 21 questions. The questioner included the questions based on various key parameters, which related to productivity output, absenteeism, innovativeness and creativity, management change etc. The questioner has been depicted in the annexure. Through the responses rate was slow in the beginning as it took time and effort to make them realize the importance of enuresis for their own career finally process gathering momentum and large number of employees were successfully covered under the survey.

Research Design

a) Nature of study

35

Descriptive research study i.e. , to study the preferences and opinions of individuals and their pattern at work place.

b) Sampling design: Area of study is staff (assistant managers) of TALBROS ENGINIERING LTD. . c) Data Collection: Sources: Primary sources: questionnaire and interview Secondary Source: various publication, and books. Main primary sources of data collection are questionnaire and the questionnaire is randomly distributed to the engineers and assistant managers of various departments.

d) Research development: Questionnaire rating at 5-point scale. e) Data analysis: Simple statistical techniques. f) Data presentation: The presentation of data is draw by graph and chart.

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Questionnaire administration

All questionnaires were handed over through personal meeting and/visit. Most employees were given 2 or 3 days for completion of questionnaire it suit their convenience. Some of completed the questionnaire immediately and handed over to me; so as to clarify certain statement prior to completion. To collect the questionnaire from employees I have to visit more than once to them. Also, some employees were willing to respond or share their views. Questionnaires were being distributed to various departments present in Bajaj Allianz Life Insurance Co. Ltd.

Data collection
o I have collected the data randomly

37

o 100 questionnaires were distributed and very good responses were received back the executives as I got back all 100 questionnaires filled from them. o Responses are in the raw from which were then converted in to meaningful data for further analysis,

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Chapter No.: IV

DATA ANALYSIS, INTERPRETATION

Data analysis
RESPONSE OF THE EMPLOYEES ABOUT THE TRAINING PROGRAMMES THAT TYPE HE/SHE ATTENDED.

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Response of employees Skill development Management development IT Spiritual Project management

No. of employees 40 22 18 7 13

% of employees 40% 22% 18% 7% 13%

40 35 30 25 20 15 10 5 0 Skill development IT Project management No. of employees % of employees

Result: The above data diagram shows that, 40 employees out of 100 are doing the training related to skills development, 22 employees are doing the training related to management development, 18 employees are doing the training related to Information Technology, 7 employees are doing the training related to Project management, 13 employee out of 100 employees are doing the spiritual types WORKING CAPITAL MANAGEMENT program.

RESPONSE OF THE EM[PLOYEES ABOUT THE HELPFUL OF THE WORKING CAPITAL MANAGEMENT PROGRAMME IN DIFFERENT SPECIFIC AREA OF EMPLOYEES.
Response of employees PERSONAL DEVELOPMENT No. of employees 12 % of employees 12%

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JOB BOTH NOTHING

22 63 3

22% 63% 3%

70 60 50 40 30 20 10 0 1 2 3 4 5 Response of employees No. of employees % of employees

Result: The above data diagram shows that, 63 employees out of 100
says that the working capital management programme are helpful both for personal development & job, 22 employees says that the working capital management programme are helpful for job inly, 12 employees says that the working capital management programme are helpful for personal development only, 3 Employees out of 100 Employees says that the working capital management programme are useless.
RESPONSE OF THE EMPLOYEES ABOUT THE TRAINING INSTRCTION IN TREMS OF RESOURCES & ENVIRONMENT

Response of employees

No. of employees

% of employees

41

Poor Fair Good Very good Excellent

7 15 33 43 2

7% 15% 33% 43% 2%

45 40 35 30 25 20 15 10 5 0

Poor Fair Good Very good Excellent No. of employees

RESPONSE OF THE EMPLOYEES ABOUT THE APPLICABILITY OF working capital management

Response of employees

No. of employees

% of employees

42

Poor Fair Good Very good Excellent

5 17 44 27 7

5%
17% 44%

27% 7%

45 40 35 30 25 20 15 10 5 0 No. of % of employees employees Poor Fair Good Very good Excellent

RESPONSE OF THE EMPLOYEES IN IMPROVEMENT OF THE INTERPERSONAL RELATION WITH PEERS, SUBORDINATES & MANAGEMENT AFTER WORKING CAPITAL MANAGEMENT PROGRAMME

Response of employees

No. of employees

% of employees

43

NONE Least Little To some extent To large extent

3 14 23 44 16

3% 14% 23% 44% 16%

Chapter 5

FINDING OF THE STUDY

44

ANALYSIS AND RESULTS

The above data diagram show that the most of the Employees are satisfied the working capital management programs.

40% of employees are attended the Skill Development type Training. A 63% employee says that, the working capital management programs are helping for both personal development and jobs. A 43% employee says that, the training instruction in terms of resources and environment are good. A 44% employee says that, the applicability of working capital management program is good. 57% employee says that, T & D program increases potential, skill and ability. 44% employee says that, improve the interpersonal relation with peers subordinates and management after T & D programs. 59% of the employees say that, T & D improve the productivity to some extent. 27% of the employees say that, the T & D reduce the absenteeism to some extent.

45

CHAPTER 6

SUGGESTION & RECOMMENDATION

46

SUGGESTION AND RECOMMEDATIONS o It is recommended/ suggested that the survey should be conducted regularly on yearly basis to gain more advantages. o Result of the survey of should be shared with the top management and head of the department.

o The analysis result should be correlated to the result of various control tests to find out the areas of dissatisfaction and way of overcoming the same. o From the finding of the survey, related issues to be resolved through prompt actions in accordance of organizational goal, so as to minimize weaknesses and reinforce strength observed during the process.

o Make the employee aware of implementation process taking place as per their feedback thus providing the worth of the survey and establishing its credibility. o Training program should be planned considering the trainee experience and background to make more effective.

o A brief orientation program should be run organized prior to the program where the syllabus to the studied may be discussed, the
47

expectations of the trainees asked and the pros and cons/scope of the program may be discussed.

o Employees should be provided with the regular constructive feedback their performance during training and implementation of the newly acquired abilities after something training program. With a view that proper training is provided to the employee and its effective critical evaluation is done, suggestion scheme should be launched by ADD LMT.

48

ANALYSIS AND RESULTS

The above data diagram show that the most of the Employees are satisfied the working capital management programs.

40% of employees are attended the Skill Development type Training. A 63% employee says that, the working capital management programs are helping for both personal development and jobs. A 43% employee says that, the training instruction in terms of resources and environment are good. A 44% employee says that, the applicability of working capital management program is good. 57% employee says that, T & D program increases potential, skill and ability. 44% employee says that, improve the interpersonal relation with peers subordinates and management after T & D programs. 59% of the employees say that, T & D improve the productivity to some extent. 27% of the employees say that, the T & D reduce the absenteeism to some extent.

49

CHAPTER 6

SUGGESTION & RECOMMENDATION

50

SUGGESTION AND RECOMMEDATIONS o It is recommended/ suggested that the survey should be conducted regularly on yearly basis to gain more advantages. o Result of the survey of should be shared with the top management and head of the department.

o The analysis result should be correlated to the result of various control tests to find out the areas of dissatisfaction and way of overcoming the same. o From the finding of the survey, related issues to be resolved through prompt actions in accordance of organizational goal, so as to minimize weaknesses and reinforce strength observed during the process.

o Make the employee aware of implementation process taking place as per their feedback thus providing the worth of the survey and establishing its credibility. o Training program should be planned considering the trainee experience and background to make more effective.

o A brief orientation program should be run organized prior to the program where the syllabus to the studied may be discussed, the
51

expectations of the trainees asked and the pros and cons/scope of the program may be discussed.

o Employees should be provided with the regular constructive feedback their performance during training and implementation of the newly acquired abilities after something training program. With a view that proper training is provided to the employee and its effective critical evaluation is done, suggestion scheme should be launched by ADD LMT.

52

CHAPTER 7

CONCLUSION

53

CONCLUSION

I hope that after the above limitations this project study with its analysis would completely and truly represent my project. I hope after the study with the help of the recommendation and suggestion, this project not only highlight the negative part of the study but also help to understand the strong and weak areas of Providing training & development international business field in our country. in our country. This study also highlights the needs for improving the

Summarizing the overall project work done during these 2 months, it can be said that the project was a good learning experience. Through it, I got an opportunity to communicate with entire staff of Finance department as well as MIS department. The entire staff of finance department was very cooperative and they helped me in all the phases of my project. I also got the opportunity to learn about inventory management at the same time problems faced by the Tata Power Company. These two months has given me an opportunity to conceptualize and implement a new initiative. I learned how to interpret working capital and ratio analysis with the help of guidance given by Mr. Amit Kundu Head of Accounts Department. There were lot of difficulties in the beginning of the project but slowly it got the grip on the road towards future

54

CHAPTER 8
BIBLOGRAPHY

DALE YODER Personnel Management and Industrial Relations sixth Edition, Prentice Hall of India Pvt. Ltd. UDAI PAREEK Training Instrument in HRD and OD Second Edition,
Tata McGraw- Hill Publishing Company Limited.

C.B MAMORIA, S.V. GANKER Personnel Management Twentyfourth Edition, Himalaya Publishing House.

ROLF

P.LYNTON

AND

UDAI

PAREEK

Training

for

Development first Indian Edition, D.B Taraporevala sons &co. Private Ltd.

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