Mercedes Benz’s E-Biz Solution Essay

The fact that we would be one of the first car manufacturers in the United States to have a factory delivery program would be seen as a very positive thing in this regard. † – William Engelke, Assistant Manager, IT Systems, Mercedes Benz US International, commenting on the FDRS. Linking Customers By 2000, Mercedes Benz United States International (MBUSI), builder of the high-quality MClass sports utility vehicle (SUV), established itself as a company that also delivered superior customer services. One such service was the delivery option where by the customer could take delivery of the vehicle at the factory in Alabama, US. The program called the Factory Delivery Reservation System (FDRS), enabled MBUSI to create and validate 1800 orders per hour. FDRS also automatically generated material requirements and Bills of Material1 for 35,000 vehicles per hour. The Customer Relationship Management (CRM) solution that made FDRS possible was based on Lotus Domino2 and IBM Netfinity3 server4. Analysts felt that with its innovative use of the new program, MBUSI not only managed to improve its customer relations by providing the best service, but also demonstrated its commitment to customers by making them an integral part of the process. Customers were, in a way linked directly to the factory floor – which was a powerful sales tool. Background: Mbusi and its Business Challenges MBUSI was a wholly-owned subsidiary of DaimlerChrylser AG. 5 In 1993, Daimler Benz realized that the ‘Benz’ brand could be extended to wider market segments. Traditionally, Mercedes Benz6 appealed to older and sophisticated customers only. Daimler Benz wanted to attract customers below 40 years of age, who wanted a rugged vehicle with all the safety and luxury features of a Mercedes. Daimler Benz decided to develop a SUV known as the M-Class. It expected strong demand for the new vehicle and therefore planned to build its first car-manufacturing facility – MBUSI – in the (Tuscaloosa, Alabama) US. The MBUSI facility had many advantages. First, labor costs in the US were almost half that of in Germany. Second, the US was the leading geographic market for SUVs. Third, as the vehicles were assembled in the US, they could be distributed to Canada and Mexico more efficiently. In January 1997, the factory started production at partial capacity and by the end of the year, it was producing at full capacity. By 2000, the factory was rolling out around 380 vehicles per day. The new M-Class „allactivity’vehicle represented a new concept for the company. Also, mass customization required that each vehicle be treated as a separate project, with its own Bill of Material. To deal with these challenges, Daimler Benz decided to implement an enterprise wide Information Technology (IT) system, with the help of IBM Global Services7. To further strengthen the image of Mercedes Benz in the US, MBUSI planned to deliver vehicles at the factory, becoming the first international automobile manufacturer in the US to do so. MBUSI also wanted to enrich the customers’experience. Commented William Engelke, â€Å"The factory delivery option gives Mercedes-Benz customers something that they do not get from other automobile manufacturers which is why we think the program will resonate with our customers. We think that having the factory delivery program available to Mercedes customers adds to the overall experience of the customer. † The Design of FDRS The FDRS program was proposed in the first quarter of 1998. In the third quarter of 1998, MBUSI entered into a contract with IBM. A development team was constituted with IBM Global Solutions specialists and IBM e-commerce developers, who worked closely with MBUSI. The program became operational by the first quarter of 1999. The IT team at MBUSI had a clear set of functional specifications for FDRS. However, they relied on IBM to transform the concept into an e-business solution. The FDRS was designed in such a way that customers buying the M-Class SUV could specify that will take delivery of their new vehicle at the factory. They could place the order at any of the 355 Mercedes Benz dealers in the US. An authorized employee at the dealership entered the factory delivery order the web interface. Timing was the most important aspect of the FDRS’functionality, as it was closely linked with MBUSI’s vehicle production schedule. Mercedes Benz United States of America (MBUSA)8, based in Montvale, NJ, was the first link in the FDRS program. It was the point where the dealer actually placed the order. MBUSA’s role was to coordinate the distribution of vehicles to dealers across the country. Later, it had to add the order to the company’s Baan Enterprise Resource Planning (ERP)9system, which scheduled the order for production. About three months before the production date, the dealer could schedule in a window, the date and time of arrival of the customer at the factory for delivery. The window was then automatically computed by the FDRS to give the dealer, the possible delivery dates. Apart from the delivery date, the customer could also specify the accessories for the car and also request a factory tour. FDRS was based on Lotus Domino (Refer Exhibit I), Lotus Enterprise Integrator10 and IBM Netfinity servers. It also interfaced with IBM S/390 Parallel Enterprise Server, Model 9672-R45 located in Montvale, NJ (Refer Figure I). There were two Domino servers – an IBM Netfinity 5500 and an IBM Netfinity 3000. FIGURE I SYSTEM ARCHITECTURE OF FDRS Source: MBUSI The former that acted as the „internal Domino server’was placed behind a firewall 11. It replicated databases through the firewall to the external server. The replication, which was encrypted, represented the primary means by which the FDRS system achieved security. Netfinity 3000 acted as an „external Domino server. ‘It had public information and was also the primary communication linkage for dealers. The ack-end of the FDRS was equipped with an Oracle database that updated the internal Domino server database with order information. The updation was done using Lotus Enterprise Integrator. The data which was replicated to the internal Domino server included lists of valid dealers and lists of order numbers. When an order was placed by the dealer on the FDRS system, the data was first stored on the external Domino server, a fter which it was replicated to the internal Domino server. Then it was replicated to the back-end database via the Lotus Enterprise Integrator. Data replication between the Lotus Notes servers happened every 15 minutes and data exchange with the back-end database three times per day. There was also a link between the back end database and an IBM S/39012 mainframe based system located at MBUSA via a T113 line. MBUSA managed the flow of vehicles to Mercedes dealers across the United States. This mainframe based system, received new vehicle orders (as opposed to factory delivery reservation requests) from individual dealers. The orders were then sent to MBUSI’s Baan system and also to the back-end database. The vehicle ordering and factory reservation data were coordinated with each other when the back-end database uploaded the data to the internal Domino server. This coordinated the production and delivery information. FDRS Implementation One of the most challenging aspects of the implementation seemed to be the complexity of the Lotus and Domino scripts. The development team had to group all the information from diverse systems. Commented William Engelke, â€Å"There was a substantial amount of very complex coding involved in the FDRS solution. This application involves a lot more than having our dealers fill out a form and submitting it. There are many things the servers have to do for the system to function properly, such as looking at calendars and production schedules. We built a solution with some very advanced communication linkages. † IBM faced many technical challenges during the implementation of the program. One of them was the different timing schemes of the Lotus Notes databases and backend databases (ERP). This led to discrepancies in the data. Domino server was a Near Real Time (NRT) Server14, and MBUSI’s backend activities were both real time15and batch processing16. Also, to get the best results, the Domino server was an optimised subset of the ERP table set17. However, the development team achieved a balance between the two „sides’of the solution by focusing on issues of timing, error detection schemes, and alerts. Customer Satisfaction: FDRS Primary Benefit MBUSI seemed to measure FDRS’success in terms of increased satisfaction of its customers. The company also believed that the marketing and customer satisfaction aspects outweighed the significance of more traditional cost-based benefits. Apart from the factory delivery experience, the program also offered the customer a factory tour and ride on the off-road course at a low cost. The company also seemed to gain strategic marketing benefits from the FDRS program, as it was able to establish Mercedes-Benz as a premium brand. (Refer Table I for advantages of FDRS in different areas). Customers could also visit the various tourist spots in Alabama after picking up their M-class vehicles. TABLE I ADVANTAGES OF THE FDRS PROGRAM AREA Strategic Marketing Benefits Cost Savings ADVANTAGES FDRS was expected to improve customer satisfaction and brand loyalty, as it enriched Mercedes’ customer’s experience. The program also strengthened the brand image of Mercedes in the US. Development of a web-based solution enabled MBUSI to offer the factory delivery program at substantially lower costs, due to less reliance on administrative personnel. â€Å"Package Marketing† the FDRS program with a ride to tourist sites, enhanced the image of Alabama as a tourist destination. The creation of a similar – albeit smaller – factory delivery system to the European Customer Delivery Center in Sindelfingen, Germany, reflected favorably on the MBUSI business unit. Source: MBUSI Regional Economic Development DaimlerChrysler AG Future of FDRS In 2000, MBUSI planned to leverage FDRS’platform by adding a range of other services. MBUSI built an advanced platform to create communication links to its suppliers. Through the link, MBUSI provided them feedback on the quality of supplies it received. The dealers and suppliers had a user-ID and password, which the system recognized. It then routed them into the appropriate stage of the FDRS. The company also planned to extend the innovative system to include transactional applications such as ordering materials and checking order status on the Web. The company expected that the new system based on FDRS, would be more cost-effective than the Electronic Data Interchange (EDI)18 system. ] Bill of Material keeps track of all raw materials, parts, and subassemblies used to create a finished product. 2] A product of IBM Corp. , Lotus Notes and Domino R5 are the industry’s leading client/server combination for collaborative messaging and e-business solutions. 3] The IBM Netfinity server offers solutions for file-and-print and application computing needs. 4] A comput er or device on a network that manages network resources. For example, a file server is a computer and storage device dedicated to storing files. Any user on the network can store files on the server. A print server is a computer that manages one or more printers, and a network server is a computer that manages network traffic. A database server is a computer system that processes database queries. 5] DaimlerChrysler AG was the result of a merger between two leading car manufacturers – Daimler Benz of Germany and Chrysler Corp. of the US in 1998. 6] A luxury brand of passenger cars, Sports Utility Vehicles from DaimlerChrysler. 7] IBM Global Services is the services and consultancy division of IBM Corp. that offers extensive ebusiness solutions. 8] MBUSA is the wholly owned US subsidiary of DaimlerChrylser. ] ERP attempts to integrate all departments and functions across a company onto a single computer system that can serve all those different departments’ particular needs. 10] A server-based data distribution product that enables data exchange between Lotus Domino and a number of host and relational applications. 11] A system designed to prevent unauthorized access to or from a private network. Firewalls can be implemented in both hardware and software. Firewalls are frequently used to prevent unauthorized Internet users from accessing private networks connected to the Internet, especially intranets. All messages entering or leaving the intranet pass through the firewall, which examines each message and blocks those that do not meet the specified security criteria. 12] The IBM S/390 servers offer direct high speed access to the e-business application and are used for Enterprise Computing. 13] A dedicated phone connection supporting data rates of 1. 544 Mbits per second. A T1 Line actually consists of 24 individual channels, each of which supports 64 Kbits per second. Each 64 Kbit per second channel can be configured to voice or data traffic. 14] The NRT Server System supports real time distribution of near-real time data. 5] Real time refers to events simulated by a computer at the same speed that they would occur in real life. 16] Executing a series of noninteractive jobs all at one time. The term dates back to the days when users entered programs on punch cards. They gave a batch of these programmed cards to the system operator, who fed them into the computer. Usually, batch jo bs are stored up during working hours and then executed whenever the computer is idle. Batch processing is particularly useful for operations that require the computer or a peripheral device for an extended period of time. Once a batch job begins, it continues until it is done or until an error occurs. Note that batch processing implies that there is no interaction with the user while the program is being executed. 17] The ERP tables are the database tables, (thousands of them), on which the package is built. The programmers and end users must set these tables to match their business processes. Each table has a decision „switch’that leads the software down one decision path or another. 18] EDI connects all the suppliers in and out of the US. www. icmrindia. org/free resources/casestudies/Mercedes Benz-IT&Systems-Case Studies. htm

Market Research on Havells India Ltd, Bangalore

A Report on Organization Study at HAVELLS INDIA LTD Submitted in Partial Fulfillment of the Requirements of Bangalore University for the Award of the Degree of MASTER OF BUSINESS ADMINISTRATION By SACHIN MANJALEKAR REG NO: 10SKCMA053 Under the Guidance of Prof Acharya Institute of Management & Sciences 1st Cross, 1st Stage, Peenya Industrial Area Bangalore – 560 058 2010 – 2012 DECLARATION I, Sachin Manjalekar, hereby declare that this the organization Study Report titled, MAREKT ANALYSIS ON PURCHASING PATTERN OF DEALERS ON HAVELLS PRODUCTS is based on the organization study by me under the guidance of Prof This report has not been submitted earlier for the award of any other degree / diploma by Bangalore University or any other University. Place: Bangalore Date: Sachin Manjalekar CERTIFICATE FROM THE GUIDE Certified that this Organization Study Report titled MARKET ANALYSIS ONPURCHASING PATTERN OF DEALERS ON HAVELLS PRODUCTS is Based on an original organization study conducted by SACHIN MANJALEKAR Of III Semester MBA under my guidance. This report has not formed the basis for the award of any other degree / Diploma by Bangalore University or any other University. Place: Bangalore Prof Shweta . M Date: Professor – MBA Acharya Institute of Management and Sciences 1st Cross, Peenya I stage, Bangalore – 560058 CERTIFICATE Certified that this Organization Study Report titled MARKET ANALYSIS ON PURCHASING PATTERN OF DEALERS ON HAVELLS PRODUCT’S is based On the study conducted by SACHIN MANJALEKAR of III Semester MBA under the guidance of Prof. This report is based on the original study undergone and has not formed the basis for the award of any other degree/diploma by Bangalore University or any other University. Prof Shweta. M Dr. Kerron. G. Reddy Professor – MBA CEO and Principal Place: Bangalore Place: Bangalore Date: Date: Acknowledgement The toughest of endeavors in the world is not possible without the support of a helping hand which guides and motivates a person to take on any challenge head on. Inputs from such helping hands are always like very essential because more often or not certain mistakes which go unnoticed from our eyes. I am thankful to Dr. Kerron G Reddy, Principal and CEO of Acharya Institute of Management and Sciences, who had provided all the required facilities to carry out the dissertation project work and nurturing my skills to execute the requirements. I am heartily thankful to my guide Prof , Acharya Institute of Management and Sciences, whose encouragement, guidance and support from the initial to the final level enabled me to develop an understanding of the subject. I offer my regards and blessings to all my Professors of AIMS who supported me in any respect during the completion of the dissertation project. Last but not the least I thank my dear parents, teachers and friends who have been source of support, strength, inspiration and encouragement for whatever I am today. CHAPTER CONTENTS Page No. CHAPTER 1 Profiles Opening lines 1. 1Introduction 1. 2Industry Profile 1. 3Company profile 1. 4Products Profile 1. 5Competitors Profile CHAPTER 2Organization Structure CHAPTER 3Functional Departments Opening lines 3. 1 3. 2 3. 3†¦Ã¢â‚¬ ¦. CHATPER 4SWOT Analysis CHAPTER 5Ethical / Best Practices / Policies in the organisation CHAPTER 6 Findings, Suggestions & Conclusion Bibliography & Annexure Special Task †¢Introduction †¢Statement of problem †¢objectives †¢Research Methodology †¢Analysis & Interpretation of data INTRODUCTION Industry which I have taken to do my summer internship is an Electrical industry, were their products are sold to both customers and Industrial customer segment. Products like Switchgears, Motors, Fans and wires etc†¦In this internship I have choose to do Market Analysis of on purchasing patterns of Havells products . I conducted my market research on Electrical dealers at Chikpet ,Balepet , I V K Iyengar Road of Bangalore. This Report gives the detail of purchasing pattern of 30 dealers, where they sell various different company products other than Havells like Anchor, Philips, Crompton Greaves, Polycab etc. I have mainly focused my market research on Havells products and dealers who purchase Havells products. 1 . 2 INDUSTRY PROFILE The Indian Electrical/Electronics Industry is slowly emerging like every other industry sector in India. Over the past fifty years there was no exposure to global players and competition, with the result that the Industry grew up in a sheltered environment, dependent on the Government for everything, from licenses to protection to tariffs. Each one of these interventions was aimed at securing protection for oneself and ensuring growth of one’s own organization at the cost of industry and the nation at large. Lack of global competition encouraged a â€Å"cost plus† approach, where every conceivable cost increase was passed on to the customer. There was thus no motivation to reduce costs. With deli censing, decontrol and deregulation, Indian Industry has suddenly been exposed to global competition. Since last decade, India has witnessed what global players have achieved and what they are capable of achieving. We are becoming aware of competition on our turf. In this scenario, every company complains of increased competition, lower order books and shrinking margins. The Indian Electrical/Electronics Industry is of course further besieged by the fact that there is a dearth of business on account of lack of investment in the power infrastructure. Many organizations in this industry are looking overseas to develop the export markets owing to reduced demand at home. At the outset, it must be stated that the reduced domestic demand is at best a temporary phenomenon. The power sector in India is bound to grow and this will undoubtedly boost demand from the Utilities, quite apart from the industrial demand which will continue to grow with increased industrial output. The poor financial health of the SEBs is however a damper that cannot be wished away in the short term. This will continue to plague corporates in the Electrical Industry, until the SEB restructuring and unbundling brings a turnaround in the medium term. Factors Governing the Growth of Indian Electrical Industry Every industry thrives on some supporting factors. In this connection, there are few factors governing the growth of electrical and electronics industry: †¢Research & development played an important role to the increased productivity and higher-value added electrical and electronics products. †¢Foreign investments accelerated growth in production and export as well. To expand their business, foreign companies have done huge investment which lead developing countries in establishing production units. Global industries like Medical, Telecommunications, Industrial & Automotive industries have been cordially supported by electrical & electronics industry. †¢Increase in income changed living standards of the common mass. As a result, it increased the demand of electronics especially consumer electronics products globally. †¢Electric & Electrical industry is highly fragmented which comprises of many small and me dium size enterprises resulting into a huge industry. †¢Asia Pacific region is emerging as the most spinning place for the consumer electronics industry, as the markets remain still unbroached. Innovation has played importantly in this industry. It led to a consistent demand for newer and faster products and applications. Future Prospects of Indian Electrical Industry The domestic market in India is itself large, and one must firstly satisfy this market with products that meet international quality standards. With increasing globalisation, every international player is now operating in India, providing goods and services complying with international quality. Once we deliver high quality products and services within the domestic market, accessing the international market for exports should not pose a serious challenge. The Electrical/Electronics Industry in India is growing to its full potential in the coming years and no doubt that India will soon come to be recognized for quality products and services which in turn, will bring this industry to a position of true leadership. Indian electrical industry has grown because of government's thrust on it and also due to overall economic growth. It has also reached a stage where the industry has demonstrated its capabilities. The industry has seen a growth of 20% and should continue at the same level for the next few years. 1. 3 COMPANY PROFILE Havell’s India Limited was established in 1958 and is a part of the QRG group. It is one of the India’s largest electrical and power distribution equipment manufacturer company. Havells India is in four segments namely: Switchgears, Cable , Lighting and Fixtures and Electrical Consumer Durables. It is amongst the top three players in most of its products and is fast increasing its market share through aggressive brand building Today Havells India is a billion-dollar-plus Indian electrical equipment company with products ranging from industrial & domestic circuit protection switchgear, cables & wires, motors, fans, power capacitors, compact fluorescent lamps (CFL), and luminaries for domestic, commercial & industrial applications, modular switches covering household, commercial and industrial electrical needs. Havells owns global brands like Crabtree, Sylvania, Concord, Luminance, Linolite & SLI Lighting. Havells has 94 branches / representative offices and over 5000 professionals in over 50 countries. Its 12 state-of-the-art manufacturing plants in India are located at Haridwar, Baddi, Noida, Faridabad, Alwar, Neemrana, and 8 state-of-the-art manufacturing plants are located across Europe, Latin America & Africa Churn out globally acclaimed products. Havells is a name Synonymous with excellence and expertise in the electrical industry. It’s 20000 strong global distribution network is prompt to service customers. The company has acquired a number of International certifications, like CSA, KEMA, CB, CE,ASTA, CPA, SEMKO, SIRIUM (Malaysia), SPRING (Singapore), TSE (Turkey), SNI (Indonesia) and EDD (Bahrain) for various products. Today, Havells and its brands have emerged as the preferred choice of electrical products for discerning individuals and industrial consumers both in India and abroad. In an attempt to transform itself from an industrial product company to a consumer products company, Havells launched the consumer electrical products such as CFLs, Fans, Modular Switches & Luminiaires. The company has been consistent in its brand promotion with sponsorship of Cricket events like T20 World Cup, India-Australia Series and IPL. The company has also taken the initiative to reach directly to the consumers through â€Å"Havells Galaxy† – a one stop shop for all electrical and lighting needs. Social and environmental responsibility has been at the forefront of Havells operating philosophy and as a result the company consistently contributes to socially responsible activities. For instance, the company is providing mid-day meal in government schools in Alwar district, covering 15000 students per day. Besides this company has acquired land for constructing a larger kitchen with all the modern facilities to serve freshly cooked food to 50000 students in the area. Havells runs a mobile Medical Van, equipped with a trained doctor and necessary medicines in the rural areas of Delhi & NCR for the very poor and needy villagers. We also setup free medical check-up camps. In the past also, the company has generously contributed to the society during various national calamities like the Bihar Flood, Tsunami and Kargil National Relief Fund etc. The essence of Havells success lies in the expertise of its fine team of professionals, strong relationships with associates and the ability to adapt quickly and efficiently, with the vision to always think ahead. Havells is acknowledged as a manufacturer & suppliers of the widest range of quality low voltage electrical equipment. With a number of strategic alliance in place, Havells is the only company that has shown phenomenal growth rate with the help of various joint ventures,acquisition,mergers and takeovers. Havells recently acquired Frankfurt headquartered,SLI sylvania for $ 300 mn. The company is a leading global designer and provider of lighting systems for lamps and fixtures. Sylvania is one of the most globally recognized brand for over a century in the electrical industry with brand like Sylvania,Concord:marlin,Lumiance,Marlin,Claude and Linolite-Sylvania. History (Milestones-Years Achievements) 1958: Commenced trading operations in Delhi 1971: Bought HAVELLS Brand 1976: Set up the first manufacturing plant for Rewireable Switches and Changeover Switches at Kirti Nagar, Delhi. Havells in the year 1976. 1979: Set up a manufacturing plant for HBC Fuses at Badli, Delhi. 980: Started manufacturing high quality Energy Meters at Tilak Nagar, Delhi. 1983: Acquired Towers and Transformers Ltd. and turned it into a profitably manufacturing Energy Meters Company in one year. 1987: Started manufacturing MCBs at Badli, Delhi in a Joint Venture with Geyer, Germany. 1990: Set up a manufacturing plant at Sahibabad, UP for Changeover Switches. 1993: Set up another manufact uring plant at Faridabad, Haryana for Control Gear Products. 1996: Acquired a manufacturing plant at Alwar, Rajasthan for Power Cables & Wires. Entered into a Joint Venture with Electrium, UK for manufacturing Dorman Smith MCCBs and Crabtree Modular Plate Switches. 1997: Acquired Electric Control & Switchboards at NOIDA for manufacturing customized packaged solutions. 1998: Introduced high-end Ferraris Meters in Joint Venture with DZG, Germany. 2000: Acquired controlling stake in Duke Arnics Electronics (P) Limited engaged in manufacturing of Electronic Meters-Single Phase, Three Phase, Multi Function, Tri-Vectors. Acquired controlling interest in an industry major-Standard Electricals Ltd. 001: Acquired business of Havells Industries Ltd, MCCB of Crabtree India Limited and merged ECS Limited in the company to consolidate its area of core competence. 2002: Standard Electrical Company becomes a 100% Subsidiary of the company Attained the IEC certification for Industrial switchgear and CSA certification for all manufacturing plants. 2003: Set up manufacturing plant at Baddi (H. P. ) for manufacturing of Domestic Switchgear. Se t up a manufacturing plant for manufacturing of CFL at existing manufacturing plant in Faridabad, Haryana. 2004: Set up a manufacturing plant for manufacturing of Ceiling Fans at Noida, UP. Set-up their own marketing office in London through their wholly owned subsidiary company Havells U. K. Ltd. In December 2004, placed 235 fully convertible debentures of Rs. 10 lakhs on M/s. Shine Ltd. , Mauritius and the debenture got converted in June, 2006 Attained the CE certificate for CFLs. 2005: Set up manufacturing plant in Haridwar, Uttaranchal for manufacturing Fans. Awarded the KEMA certification by The Dutch Council for Accreditation, making QRG the only group to attain this certification. Set up of R Center in Noida H. O. 2006: Crabtree India merged with Havells India. Added CFL production unit in Haridwar manufacturing plant. Expansion at Alwar manufacturing plant for increase of production capacity. Expansion at Baddi manufacturing plant and set-up of an Export Oriented Unit. 2006: First Company to get the ISI Certification for complete range of CFLs. Started mid-day meal program at Alwar, Rajasthan caters to 10,000 students from 77 schools. 2007: Set-up of Capacitor manufacturing plant in Noida, UP with the capacity of 6, 00,000 KVAr per month. Acquired the Lighting business of a Frankfurt based company â€Å"Sylvania†, a global leader in lighting business and now the company's turnover crosses US$ 1 Billion. Havells at that time was best known for its electrical switches, energy meters and miniature circuit breakers (MCBs), while SLI Sylvania was a renowned yet under-leveraged European lamps and fixtures brand. In March 2007, Havells acquired SLI Sylvania of Netherlands for $300 Million, making it the fourth largest lighting business in the world, worth over a billion USD! This was, at that time, the biggest overseas takeover by an Indian Electrical equipment manufacturer. This takeover helped take the Havells brand to over 20,000 dealers across Latin America, Europe, Asia and Africa. The combined Havells-Sylvania generated over a $1 billion in revenue with more than 60% coming from international sales. Havells’ portfolio of prestigious global brands now includes Crabtree, Sylvania, Concord, Luminance, Linolite & SLI Lighting. 2008:First Indian CFL manufacturers to have adopted RoHS, European norms on Restriction of Hazardous Substances in CFLs. Set up of Global Corporate office, QRG Towers at Expressway Noida. Havells Corporate Office. Investment of Rs. 50 Crores in Global Center for Research and Innovation (CRI). Set up of fully automatic plant for Havells Lafert Motors at Neemrana. Change in Corporate BRAND identity. [3] 2009: Set up of fully automatic 2nd unit for switchgear manufacturing at Baddi. Global consolidation of CFL manufacturing plant at Neemrana for domestic and export purposes. Launch of India’s 1st HPF CFL. Launch of India’s 1st BEE 5* Rated Fan. 2010: Inauguration of fan manufacturing unit 2 at Haridwar. Global Launch of LED products. Acquired 100% interest in Standard Electricals. Sets up World’s First New Generation CMH Lamp Plant at Neemrana. Vision â€Å"To be a globally recognized corporation that provides best electrical & lighting solutions,delivered by best in class people. † Mission To achieve our vision through fairness,business ethics, global reach,technological expertise,building long term relationships with all our associates,customers,partners,and employees. Values †¢Customer Delight:A commitment to surpassing our customer expectations. †¢Leadership by examle: A commitment to set standards in set standards in our business and transactions based on mutual trust. †¢Integrity and Transparency:A Commitment to be ethical,sincere and open in our dealings. Pursuit of Excellence: A commitment to strive relentlessly,to constantly improve ourselves, our teams,our services and products so as to become the best in class Promoters QRG Group is one of the fastest growing Electrical and Power Distribution Equipment Company in the country, manufacturing products ranging from building circuit protection, industrial & domestic switchgear, cables & wires, energy meters, fans, CFLs, luminaries, bath fittings and modular switches. The group comprises of 5 companies – 1) Havells India Ltd. (the flagship company) 2) Standard Electricals 3) Crabtree India Ltd 4) TTL 5) Sylvanias Board of Directors 1. Qimat Rai Gupta (Chairman and Managing Director) 2. Anil Gupta (Joint Managing Director) 3. Surjit Gupta (Director Operations) 4. Ameet Gupta (Director International Marketing) 5. Rajesh Gupta (Director Finance) Shareholders †¢Indian Promoters hold 61. 6%, single business focus. †¢In 2007 Warburg Pincus, a global private equity firm and one of the largest investors in India, invested US $110 million in Havells India Ltd. †¢Warburg Pincus share in havells represents 14 % of the fully diluted share capital of the company. †¢Overtime company attracted high quality long term investors Sequoia capital CLSA Blackrock SAIF partners Sloane Robinson HSBC (largest FII in India) SBI (largest bank in India) Havells Total Revenue Growth Starting off as a manufacturer of switchgears in 1971, Havells till the late 1990s was largely involved in manufacturing industrial products. Foreseeing strong growth prospects in the consumer goods category, the company later diversified into products such as fans, compact fluorescent lamps (CFLs), modular switches, and power cables and wires. As these products are used mostly during building construction or renovation, the company benefited from the rapid growth in the real estate sector, reporting a robust compounded annual growth rate (CAGR) of around 40% in its revenues in the last ten years. To further capitalize on the growth potential in the consumer goods category, Havells is now expanding its portfolio, including products such as water heaters and electrical appliances. With its main focus being on electrical consumer goods, demand for most of Havells products is driven by consumer spending and power availability. Over the last four years, the top players in domestic electrical consumer goods industry have demonstrated strong revenue growth of 15-18%, driven by rising income levels, increasing urbanization, and greater rural electrification. Further, with standards of living improving and consumer focus increasing on saving energy, the demand for quality products has been reporting strong growth. The trend is expected to sustain, with the main beneficiaries being companies with established brands and product attributes that stand out in an increasingly cluttered market, high quality standards that neutralize competition from unorganized-sector players, and extensive distribution networks that enable them to reach the high growth centre’s in Tier-II and Tier-III cities. Given its established track record, Havells is in a favorable position to capitalize on the sector‘s growth potential. We expect Havells to post a net profit CAGR of around 11% between 2009-10 and 2012-13(E) on a standalone basis. Major clients of Havells 1. 4 PRODUCT PROFILE There are twelve verticals of Havells they are as follows: 1. DP- Domestic product- (Miniature Circuit Breaker ) 2. IP- Industrial products- (Moulded Case Circuit Breaker ) 3. Switches (Modular )- Crabtree 4. Switches (Modular )- Havells 5. Motorts- Industrial 6. CFL’s-( Compact Flurosent Light ) There are various types of CFL’s they are as follows Normal, Spiral, Higher Range, T-2 Spiral, G24 Base 7. Professional Luminous 8. Consumers Luminous 9. Fans- There are various types of CFL’s they are as follows Table Fans, Wall mounted, Ceiling Fans, Exhaust Fans, Pedestal Fans 10. Geysers 11. Wires 12. Cables- There are various types of Cables they are as follows Flat Cables, Co-axial TV Cables, Telephone Switch Board Cables, Multi Core Round Products Building Circuit Protection Miniature Circuit Breaker o Miniature Circuit Breaker (MCB) o Isolator o Changeover Switch Residual Current Circuit Breaker (RCCB) o RCBO o Distribution Board (DB) o Indicator Light Industrial Circuit Protection o Air Circuit Breaker o MCCB o Panel Board system o Changeover Switch o By-pass Changeover Switch o Load Changeover Switch o Automatic Transfer Switch o Switch Disconnector o Control Gear o Switch Disconnector Fuse o Fuse Switch and Switch Fuse o Chamber System o Fuse Holder o Nylon F use Base o Fuse Link and Fuse Base Motors Foot Cum Flange Motor. o Foot Mounting o Flange Motor o Foot Cum Flange o Inverter Duty Motors with Forced Cooling o Crane Duty Motors o Brake Motors Normal Duty o Heavy Duty o Super Heavy Duty o Agriculture Duty o Motor Run Capacitors Lighting oLED Lighting o Consumer Lighting o Commercial Lighting o Down Lighter o Landscape – Bunker Lighting o Industrial Lighting o Area Lighting o Road Lighting o Specialty Lamps o Accessories o Aura Lighting CFL India's First HPF Green CFL. o Retrofit o Non Retrofit o Higher Range o Liliput o FPL Water Heater o Instantaneous Water Heater o Electric Storage Water Heater Cables and Wires o Power Cables – Aluminum Control Cables – Copper o Copper Flexible Cables Fans Havells Ceiling Fans. o Ceiling Fans o Table Fans o Wall Mounting Fans o Pedestal Fans o Air Circulator Fans o Ventilating Fans 3. 9 Modular Plate Switches o Havells Modular Switches o Crabtree Modular Switches Capacitors Hav ells started manufacturing of its new range of products Capacitors in February 2007 Havells Capacitors are designed and manufactured using S3 technology. It encompenses product with triple shield with differential disconnector in the event of any fault within due to environmental compatibility. Automatic controlled vacuum potting of â€Å"Element Modules† ensures fault remains localized. and protects the installation in spite of hazards Advance technologies adopted in our â€Å"Capacitors† offer you unmatched safety and outstanding performance under Indian conditions benefiting you month after month and every year from now on†¦ Figure Capacitors 1. 5 COMPETITORS PROFILE CIRCUIT PROTECTION DEVICES BUILDING CIRCUIT PROTECTION COMPETITOR’S POSITION I. Havells II. Legrand III. Indo Asian IV. Schneider INDUSTRIAL CIRCUIT PROTECTION COMPETITOR’S POSITION I. L II. Osram III. Schneider IV. Havells POWER CABLE COMPETITOR’S POSITION I. Polycab II. Havells III. Gloster WIRES COMPETITOR’S POSITION I. Finolex II. Havells III. Anchor IV. FANS COMPETITOR’S POSITION I. Crompton Greaves II. Orient III. Usha IV. Bajaj V. Havells ENGERY SAVINGS LAMP COMPETITOR’S POSITION I. Phillips II. Havells III. Osram LIGHTING FIXTURES COMPETITOR’S POSITION I. Phillips II. Bajaj III. Crompton Greaves IV. Havells Fig : ORGANIZATION CHART EXPLANATION OF ORGANIZATION STRUCTURE ?Havells India Ltd has straight line-functional structure. ? Qimat Rai Gupta is chairman and Managing Director of Havells India Ltd. Directors, Branch Heads, National product heads have to report Managing director. ?There are 12 different products of Havells and there are 12 different Branch Heads as show in organisation chart. ?Product Heads, Ass. Managers, Senior Sales Executive, Sales Executive, they have to report their respective Branch Heads as shown in organization chart. ? Account s Executive have to report commercial Head and commercial head have to report Branch Head. ?Similarly Service Executive has to report Service Head and service head have to report their respective Branch Heads as shown in rganization chart. Work culture at Havells QRG is continuously applying modern management techniques such as Kaizen to enable employees to improve their day to day functioning in small steps, one at a time. QRG has also implemented Japanese version of 5S which stands for â€Å"a place for everything and everything in its place†. The company has Introduced these techniques as it firmly believes that small changes add up to large results and the only way for a corporation to grow, is to make its people grow. The Group is driven by qualified and experienced professionals backed by a work force of over 4000 employees. All branches and manufacturing facilities are computerized and networked with each other. An open door policy at all levels encourages employees to be participated, innovative and creative. Empowering employees helps the organization in harnessing individual talents to the fullest. Emphasis is laid on building team spirit which helps employees to realize collective potential. Manufacturing Plants: Powerful trends are shaping up industry for the 21st century. Because of rapid spread of advanced technologies complexity of work is increasing – almost daily. With the state of the art equipments and manufacturing facilities, QRG group is helping to boost safety in workplaces from the factory to the offices, domestic buildings to commercial plazas. All the manufacturing units are probably supervised and controlled by technocrats and industry specialists. The group has well managed, well equipped tool rooms with machines like CCV Line, CNC Machines, EDM Wire Cut, Spark Erosion Machines, Lathes and Surface Grinders. Our strategic alliances with some of the leading technologycorporations in the world of electrical engineering, ensure constant access to the latest developments in the international markets, which are then adapted to the tough tropical conditions. Our manufacturing units are fully equipped with the latest and most sophisticated facilities in India. And in the hands of our highly qualified technical experts, this results in some of the most advanced product development in the country Location: Branch offices / zonal offices / manufacturing plants Haridwar, Uttaranchal Products manufactured: Fans and CFLs †¢ Baddi, Himanchal Pradesh Products manufactured: MCBs, CFLs and Switches †¢ Samepur Badli, Delhi Products manufactured: MCBs, ELCBs and DBs †¢ Tilak Nagar, Delhi Products manufactured: Energy Meters †¢ NOIDA, UP Product manufactured: Fans †¢ Alwar, Rajasthan Products manufactured: Cables & Wires †¢ Faridabad, Haryana Products manufactured: CFLs and Ind ustrial Products. †¢ Gurgaon, Haryana Luminaries and Lighting fixtures †¢ Jalandhar Products manufactured: MCBs, ELCBs, DBs, Wires and Industrial Switchgear †¢ Gurgaon, Haryana Products manufactured: Modular Plate Switches & Accessories . SWOT ANALYSIS Opportunities, and Threats involved in a project or in a business venture. It involves Specifying the objective of the business venture or project and identifying the internal and External factors those are favorable and unfavorable to achieving that objective. A SWOT analysis must first start with defining a desired end state or objective. A SWOT Analysis may be incorporated into the strategic planning model. Strategic Planning, including SWOT and SCAN analysis, has been the subject of much research. †¢ Strengths: attributes of the person or company those are helpful to achieving the objective. Weaknesses: attributes of the person or company those are harmful to achieving the objective. †¢ Opportunities: exte rnal conditions those are helpful to achieving the objective. †¢ Threats: external conditions which could do damage to the objective. Identification of SWOTs is essential because subsequent steps in the process of planning for achievement of the selected objective may be derived from the SWOTs. The aim of any SWOT analysis is to identify the key internal and external factors that are important to achieving the objective. These come from within the company's unique value chain. SWOT analysis groups key pieces of information into two main categories: †¢ Internal factors – The strengths and weaknesses internal to the organization. †¢ External factors – The opportunities and threats presented by the external environment to the organization STRENGTHS †¢Foreign Joint Venture & International approvals †¢World class infrastructure †¢Low cost of Production due to the easy availability of raw materials and cheap labour †¢Leveraging upon Sylvinia network (10000 distributors). †¢Global presence (Latin America, UK, Europe) †¢Largest manufacturing capacity in the country for motors †¢R & D facilities WEAKNESS †¢High power consumption and requirement of continous power supply †¢Season demand of the production due to weather condition †¢Increased cost of production due to increase in coal prices †¢Globally small Market share †¢Slowdown of real estates †¢Delays in execution of power projects OPPORTUNITIES †¢Global opportunities. †¢Growing middle class : There has been increase in the purchasing power of emerging middle-class with rise in salaries and wages, which results in rising demand for better quality of life that further necessitates infrastructure development and hence increase the demand for CFL. Technological changes: The CFL industry has made tremendous strides in technological up gradation and assimilation of latest technology. At present ninety three per cent of the total capacity in the industry is based on the capacity is based on old wet and semi-dry process technology. The induction of advanced technology has helped the industr y immensely to conserve energy and fuel and to save material substantially and hence reduced the cost of production. †¢Changing dynamics due to increased FDI inflows †¢Shift of public perception on the product from being a luxury item to necessity. Acquisition of Chinese firms for low cost manufacturing. †¢Vertical integration into Havells retail outlets. †¢Leveraging upon motor business in India THREATS †¢Unorganized market. †¢International policies on environment of highly energy efficient, low or zero noise environment efficient product †¢Unrelated diversification †¢Global slowdown effected business adversely as is largely dependent on Sylvinia BCG MATRIX BOSTON CONSULTING GROUP (BCG) MATRIX is developed by BRUCE HENDERSON Of the BOSTON CONSULTING GROUP IN THE EARLY 1970’s. According to this technique, businesses or products are classified as low or high performers depending upon their market growth rate and relative market share. Market share is the percentage of the total market that is being serviced by your company, measured either in revenue terms or unit volume terms. RELATIVE MARKET SHARE RMS = Business unit sales this year Leading rival sales this year The higher your market share, the higher proportion of the market you control. Market growth is used as a measure of a market’s attractiveness. MARKET GROWTH RATE MGR = Individual sales this year – individual sales last year Individual sales last year Markets experiencing high growth are ones where the total market share available is expanding, and there’s plenty of opportunity for everyone to make money. It is a portfolio planning model which is based on the observation that a company’s business units can be classified in to four categories: I. Stars Question marks II. Cash cows III. Dogs It is based on the combination of market growth and market share relative to the next best competitor. The matrix comprises of four quadrants each describing the size and position of the strategic business unit owned by an organization. On the vertical axis is the Market Growth rate of the market in which the business operates. A market growth rate above 10 percent is considered to be high. On the horizontal axis is the Relative Market Share. It refers to the Strategic Business Unit’s market share as compared to the firm, which is its largest competitor in the segment under consideration. The relative market share serves a measure of the company’s strength in the market segment. The two axes are divided into high & low. The growth matrix is divided into four cells each indicating a different type of business profile. QUESTION MARKS: These are Businesses that operate in high- growth markets but have low relative market shares. A question mark requires a lot of cash because the company has to spend money on plant, equipment and personnel to keep up with the fast growing market and because it wants to overtake the market leader. The company has to think hard about whether to keep on investing money into this business or put an end. Strategic options for question marks include.. I. Market penetration II. Market development III. Product development IV. Which are all intensive strategies or divestment? STARS: – It is a market leader in a high growth market. A star does not necessarily produce a positive cash flow for the company. The company must spend substantial funds to keep up with the high market growth and to fight off competitor attacks. A star is a potential business which has the competitive advantage to be a market leader in an industry that is growing fast. Strategic options for stars include. I. Integration – forward, backward and horizontal II. Market penetration III. Market development IV. Product development V. Joint ventures CASH COWS: – Stars with a falling growth rate that still have the largest relative market share and produce a lot of cash for the company is called a cash cow. The company does not have to finance expansion because the markets growth rate has slowed because the business is the market leader it enjoys economies of scale and higher profit margins. The company uses its cash cows to pay bills and support other business. ). Strong position:-strategic options are I. Product development II. Concentric diversification b). Weak position :- strategic options are I. Retrenchment II. Divestment DOGS: – Businesses that have weak market shares in low-growth markets are in the dog category. The company should consider whether they are expecting a turn around in the market growth rate or a new chance for market leadership else they should div est this business. It would be fruitless to spend and money on this matrix business. Strategic options for Dogs include I. Retrenchment (if it is believed that it could be revitalized) II. Liquidation III. Divestment (if you can find someone to buy! ) Successful products may well move from question mark through star to Cash Cow and finally to Dog. Less successful products that never gain market position will move straight from question mark to dog BCG MATRIX IN HAVELLS:- Indian Operations of the Company are divided into 4 key segments: Switchgear: Havells is the largest manufacturers of MCBs, RCCBs, and distribution boards in India . With the market share of around 25% in the market for MCBs. In FY08, switchgear contributed 25% at Rs. 5420 million to its overall revenue. This segment is the most profitable one with operating margins to the tune of 33% in the FY08. The Company currently exports MCBs to over countries, including the quality conscious European countries. The Company is the number one player in domestic switchboards with more than 20% market share and is the 4th largest in Industrial switch boards. With continued investment in power sector they expect Company to grow at 15% CAGR over FY08-FY12. Switch Gear division had EBIT margins of 32% for Q3FY09. They expect margins in this business will remain stable above 30% over long term. Cable and Wires: The cable & wire segment generated Rs 2133 million in the Q3FY09 registering y-o-y de-growth of 14% EBIT margins fell from 9. 5% 9M YTD FY08 to 5. 4% in FY09. Fall in revenues was registered due to drop in prices of cables and wires and huge margin drop in was due adjustment in inventory due to massive reduction in prices of Copper in this Quarter. Company had negative EBIT of Rs. -76 million on revenues of Rs. 2133 million for Q3. The Company is recognized as quality manufacturers of cable & wires and offers a complete range of low and high voltage PVC and XLPE cables, besides, domestic/FRLS wires, Co-Axial TV and telephone cables. Lightning and Fixtures During FY08, the turnover of the division grew at 25% y-o-y to Rs 2900 million, first quarter revenues stood at 650 million, 11% up from same period of previous year. The Company generated operating profit of Rs. 190 million with 26. 7% margins as against 12. 3% margin last year. In this division, the Company expanded its CFL capacity to become the largest CFL manufacturer in the country. They expect Company to aggressively pitch this segment by launching a range of products in lightings and fixtures as it brings products from the stable of Sylvania into the Indian markets. Currently 60% of the CFL and only 30% of the fixtures market is organized. Their estimates put Lightings and Fixtures business growth at 25% CAGR FY10E –FY12E as industrial growth is likely to pick up. Electrical Consumer Deliverables & Others Havells also offers products like electric fans, meters and ‘Crabtree’ brand bath fittings which are largely consumer products and add diversity to Havells product profile. With strong brand image among domestic consumers, Havells may launch new products like Geysers in this segment. They believe the electric fan segment, which contributes 10% to consolidated revenues, and generates operating margins in excess of 20%, is the key focus segment. The Company has increased its share form 3% to 13% in the organized fan market of INR 17 bn form FY 05 to FY08 PESTLE ANALYSIS (PEST analysis) Political (Global, national, regional, local community and trends) Economic (world, national and local trends) Social (development in society – culture, behaviour, expectations). Technological (developments: computer hardware, software, applications) Legal (world/ EU/ national legislation). Environmental (global / EU/ National issues). PESTLE Analysis is a simple technique which can be used in a fairly sophisticated way, Particularly when it is combined with Risk Analysis, SWOT Analysis, an Urgency/Impotency Grid and expert knowledge about the organisation and its external factors. PESTLE Analysis is normally used to help organisations identify and understand the external environment in which they operate and how it will operate in the future. SOCIAL FACTOR Havell acquires companies and builds internally, havells Group never loses sight of its responsibility as a good corporate citizen. Havells believes that serving people with meager or no means is the duty of every well-to-do person. It consistently puts that philosophy into action and has initiated several projects for social causes. This has greatly increased the number of children attending school regularly and also alleviates hunger. Corporate Social Responsibility (CSR) at havells portrays the deep symbiotic relationship that the group enjoys with the communities it is engaged with. As a responsible corporate citizen, we try to contribute for social and environmental causes on a regular basis. Kitchen with Modern Facilities The company has acquired land for constructing a large kitchen with all the modern facilities to serve the meal to around 40000 to 50000 students. Mid Day Meal Being a responsible and concerned corporate citizen, QRG also undertakes other welfare activities in and around its plant locations, In Alwar region; the company is providing mid-day meal close to 15000 students of primary schools. Check-up Camps Blood Donation Camps Contribution towards Tsunami and Kargil National Relief Fund. TECHNOLOGICAL FACTOR Research and Development Innovation is the hallmark of every vital development at havells Group. New ideas, inventions deepen scientific knowledge and give its work force a new impetus towards technical progress. Havells’s technological strengths and its endeavour towards continuous research & development have allowed it to fulfils its responsibilities towards its customers. The responsibility of providing its customers the best products and zero defect services to enable them to be comfortable and secure in usage of electricity. Havells has recently invested 50 crores in the QRG Center for Research and Innovation, set-up at the company's Head Office premises in Noida, U. P. The objective of this centre is to provide the theoretical & experimental foundations for all segments of electrical engineering. The centre closely cooperates with the various departments so as to provide the best and the latest in terms of technology and design. Quality Control The essence of quality is closely wrapped in the way we think, plan and work. It finds its true expression when we extend beyond ourselves to exceed our customer’s expectations. To deliver products those are safer, faster and simply better. Each time, every time. Building customer confidence through teamwork is a top priority to provide a wide variety of products and services. Realising and respecting the basic needs of customers to feel more secure, we've committed ourselves to make our products better, safer and smarter than what he or she is looking for. That's a passion that began 30 years ago and that's how it continues to be even today. Our customers rely on us and it is our responsibility to give them the very best. All our products are as per IEC standards. QRG has a simple rule on quality. If it doesn't exceed customer expectation, it's not quality ECONOMIC FACTOR The Havells Group defines corporate governance strategically, which encompasses not only what we do as a company with our profits, but also how we make them. It goes beyond philanthropy and compliance and addresses how our company manages its economic, social, and environmental impacts, as well as its relationships in all key spheres of influence: the workplace, the marketplace, the supply chain, the community, and the public policy realm. We as a company have been in lead in offering a portfolio of eco responsible products and services that deliver powerful, sustainable, energy-efficient solutions that don't compromise on capacity and security. Our eco responsibility initiative also focuses on how we run our business, and includes efforts to develop an alternative-energy strategy, and thus reduce the environmental impact of our operations. We strive to bring corporate responsibility to every aspect of our business. We're committed to managing a responsible and diverse supply chain that's consistent with our high standards for environmental and business practices. Breaking down the barriers that constrain innovation is a challenge; we have readily embraced right from the start. Our ability to build communities and promote the exchange of ideas through assistive technologies, participation programs, and standardization is transforming the way people experience our products. We offer our customers holistic energy-efficient solutions, enabling them to not only save money and protect their capital investment, but also lower their energy usage and protect the environment, thus fulfilling our CSR responsibility of sustenance of depleting environmental resources. CORPORATE GOVERNANCE AND ETHICS An implicit sense of ethical business conduct has been the cornerstone of the havells way on corporate governance. On issues ranging from customer care and business excellence to financial propriety and more, explicit rules and regulations supplement the traditional values on which our group companies have been shaped. This is what we have endeavored to do in the 50 years of our existence. Our values of understanding, trust, integrity and ethics have served us in good stead. Corporate governance as practiced by our Group translates into being fair and civic-minded, fulfilling our duties to the entire spectrum of stakeholders, and, most importantly, making integrity an article of faith across all our operations. The group's adherence to ethical business conduct is rooted in the vision of its Founder Mr Qimat Rai Gupta. We started on sound and straightforward business principles, considering the interests of our shareholders and welfare of our employees as foundation of our long term success. The ‘leadership with trust' philosophy that has come to play such a vital role in how our customers perceive us is all the more remarkable given the climate of unparalleled public distrust of people in positions of authority today both in business and politics. Employee Relations Our people are the key to our success. Their skills, knowledge, ideas and enthusiasm drive our business. We have high-quality, diverse workforce and employees who fulfill their potential. We have achieved this by giving them development and advancement opportunities along with competitive compensation and benefits that appropriately reward performance We communicate widely with employees to demonstrate how their efforts contribute to our success and to listen to their concerns. We also encourage them to align with our vision. We are committed to open communications and a workplace where everyone's voice is heard. We use several channels to communicate with employees, including an internal web portal and company website along with communication sessions with the top management of the company. These sessions provide assessment of employee satisfaction and are inputs for business planning, management decision-making and company strategy development. They also help employees implement company policies, meet high standards of conduct and ensure their behavior reflects company values and policies. We seek to meet leading health, safety and wellness standards to enhance our business performance while optimizing employee health. Our facility policies are designed to continually reduce the risk of occupational injury and illness while promoting employee health and wellbeing. We wish to be a company that is known for its leadership in corporate ethics and responsibility. A company where employees are proud to work, and customers, partners and suppliers want to do business with. 5. SPECIAL TASK MARKET ANALYSIS ON PURCHASING PATTERN OF HAVELLS DEALER SURVEY OBJECTIVE OF THE STUDY: ?To study the Purchasing Pattern of Dealers of Havells product ? To find how the product is accepted in the market. ? To know the perception of customer regarding the quality of Havells. ? To know how satisfied are Dealers with the products they purchase and the services provided by the company RESEARCH METHODOLOGY: Research refers to a search for knowledge. It is a systematic way of collecting and recording the facts in the form of numerical data relevant to the formulated problems and arriving at certain conclusions over the problem based on collected data. Thus formulation of the problem is the first and foremost step in the research process followed by the collection, recording, tabulation, analysis and drawing the conclusions. The problem formulation starts with defining the problems or number of problems in the functional area. To detect the functional area and locate the exact problem is most important part of any research as the whole research is based on the problem. Research extends knowledge of human being, social life and environment. It unravels the mysteries of nature. It verifies and tests existing facts and theory and these help in improving our knowledge and ability to handle situation and events. The questionnaire method is closed-ended questionnaire. It is a structured ones with four alternative responses from which respondent can choose. They contain standardized answers and they are simple to administer and easy to compile and analyse. SAMPLING: Sampling is the selection of some of some part of an aggregate or totality on the basis of which a judgment or inference about the aggregate or totality is made. In briefly, â€Å"sample is a smaller representation of whole†. SAMPLE SIZE: 30 SAMPLE UNITS: Electrical Dealers at Bangalore (Chikpet, Balepet, B. V. K Iyengar Road, R. T. Street) SOURCES OF DATA COLLECTION: Data serves as the basis or raw materials for analysis. The relevance, accuracy, adequacy and reliability of data determine the quality of the findings of the study. Data collection includes gathering the relevant information from different sources of data pertaining to the study under consideration. PRIMARY DATA: Primary date has been collected through:- I. OBSERVATION: – Here we have observed retailers About their purchasing behaviors . II. SURVEYS: – In Survey We have used Questionnaire Method, few Questionnaires have been asked to the Dealers. SECONDARY DATA: Secondary data was taken mainly from the internet and the URL are as follows:- I. www. havells. com II. www. wikipedia. com III. www. scribd. com IV. www. icra. com DURATION OF THE STUDY:- The study was carried out for a period of 20 days . DEALER SURVEY 1. Have you heard about Havells ? a. Yes b. No 2. Do you buy Havells product? a. Yes b. No If No why †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.? 3. How many different products of Havells you know? a. 1-2 b. 3-5 c. 6-8 d. 9-12 4. What are the Havells Modular Switches you are dealing with? a. Corel Range b. Pearlz Range c. Oro Range 5. What are the Havells CFL you are dealing with? a. Normal b, Spiral c. Higher Range d. T-5 6. What are the Copper Flexible Cables you deal with? a. Flat Cables b. Co-axial TV Cables c. Telephone Switch Board Cables d. Multi Core Round 7. What are the Havells IP you deal with? a. Industrial Switch Gears b. Meters c. Capacitors d. Motors 8. What are the Havells DP you deal with ? a. MCB b. RCCB c. DB 9. Which Havells Fans do customers prefer the most ? a. Ceiling Fans b. Table Fans c. Wall mounted d. Exhaust Fans 10. How Effective are the promotional activities of Havells ? a. Very Good b. Good c. Average d. Poor e. Very Bad 11. What are the other brands they are dealing with ? a. IP †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ . .. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ b. DP †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. c. Switches †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. d. Fans †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. e. CFL †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. f. Wires †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. g. Cables †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. h. Geysers †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. i. Motors †¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. j. Professional Luminous †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. k. Consumer Luminous †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 12. Which Range is highest sold in your counter ? a. Lights b. Fans c. Industrial Circuit Protection d. Building CP 13. How do you rate Havells Sales staff support ? a. Very Good b. Good. c. Average d. Poor. e. Very Bad 4. What type of products do you want to sell ? a. Quality Products b. Guarantee Products c. Less Price Products d. Good Service Products 15. Which Company Products you buy the most ? a. Philips b. Havells c. Anchor d. Crompton Greaves 16. Do you get enquiry for our products from customers ? a. Yes b. No 17. What is the proportionate ratio of Havells sales in your counter with respect to other brands you deal ? †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 18. How do you rate Havells in dealing with commercial terms? a. Very Good b. Good c. Average d. Poor 19. How do you rate the after sale service of Havells company ? . Very Good b. Good c. Average d . Poor 20. How Satisfied are you with Havells ? a. Strongly satisfied b. Satisfied c. Dissatisfied SUGGESTIONS :- Data Analysis and Interpretation 1. Have you heard abo ut Havells? The Dealers have heard about Havells 2. Do you buy Havells product? All the Dealers buy Havells product (Since Dealers survey was restricted to the Dealers who buy Havells product) 3. How many different products of Havells you buy ? INTERPRETATION: Most of Dealers buy products in the range of 3-5, which includes Lights, Circuit Protection and Switches and Fans 4. What are the Havells Modular Switches you are dealing with? Coral Range5 Pearlz Range2 Oro Range1 INTERPRETATION: Most of the Dealers deal with Coral switches, few with Pearlz 5. What are the Havells CFL you are dealing with? Normal8 Spiral4 Higher Range2 T-2 Spiral3 G 24 Base1 INTERPRETATION : Normal Range CFL is highest sold in there counter when compared to other range of CFL’S 6. What are the Copper Flexible Cables you deal with ? Flat CablesNil Coaxial1 Telephone Switch boardNil Multi Core Round2 INTERPRETATION : Polycab and Finolex rule the market in Multic core round and Coaxial cables . What are the Havells IP you deal with ? Industrial Switch Gears8 Meters3 Capacitors2 Motors2 INTERPRETATION : In Industrial Circuit Protection , Most of the Dealers deal with Industrial Switch Gears and rest of them have equal share 8. What are the Havells DP you deal with ? MCB8 RCCB8 DB2 9. Which Havells Fans do customes prefer the most ? Ceiling Fans7 Table Fans7 Wall Mounted7 Exhaus t Fans4 10. How Effective are the promotional activities of Havells ? Very Good2 Good16 Average2 PoorNIL 11. What are the other brands they are dealing with other than Havells ? a. IP b. DP c. Switches d. Fans e. CFL f. Wires h. Geysers 12. Which Range is highest sold in your counter ? Lights4 Fans7 Industrial Circuit Protection4 Building CP3 13. How do you rate Havells Sales staff support ? Very GoodNil Good7 Average6 Poor4 14. What type of products do you want to sell ? Quality Products12 Guarantee Products10 Less Price5 Good Service Products10 INTERPRETATION : Most the Dealers want to purchase Quality and Guaranteed Products 15. Which Company Products you buy the most ? 16. Do you get enquiry for our products from customers ? Yes30 No3 17. What is the proportionate ratio of Havells sales in your counter with respect to other brands you deal with? 18. How do you rate Havells in dealing with commercial terms? Very GoodNil Good10 Average6 Poor5 19. How do you rate the after sale service of Havells company? Very GoodNil Good11 Average7 Poor8 20. How Satisfied are you with Havells? Strongly SatisfiedNil Satisfied15 Dissatisfied2 FINDINGS 1. More than 70% of the Dealers are selling Havells products 2. 80% of the Dealers think that the price of the Havells is higher when compared to other company. 3. 0 % of the Dealers are satisfied with Havells and 20% are dissatisfied. 4. 60% of the Dealers told that the sales of Havells increased from before. 5. Out of all categories of Havells Products MCB is the highest selling in most of the stores. 6. 60% of the Dealers told that they will prefer selling Havells because customers are demanding it more. 7. 70% of the Dealers are satisfied with the delivery services the Havells but 20 % of the Dealers are not satisfied with the delivery services. 8. Replacement of Havells Products when compared to other company products takes longer duration.

Auditing Contemporary Accounting Research

Auditing is the assessment of the books of accounts in order to ensure the future of any business entity. Audited assessments may not be pure and may be influenced by risks such as inherent. These risks are known as financial assessment risks which include control risk, inherent risk and detective risk. Various theories have been developed by financial frameworks to guide and help solve such risks at different financial review process stages. The scope of this paper contends to the review of inherent risk within a telecommunication company known as One.Tel Company. The paper further looks into various factors which may be the cause of accelerating rate of inherent risks as seen within the organization mentioned. There are other hypotheses such the area of going concern which has been discussed within the paper as well. Inherent risk is one of the assessment risks being experienced by the auditors during financial statement preparations of a given institution like one.tel. Inherent risks occurs as a result of fraud or oversights during financial report analysis (Menon and Williams 2010). This kind of risk may be controlled when various hypotheses and control measures are utilized accordingly. The risk is subject to accelerate and ranks high companies as a result of the various inherent factors discussed below.    Inherent factors leading to increase of inherent risk at the financial report stages in teOne.tel Company according to the given report. Lack of enough directors to administration the company The geographical market separation influencing the company sales abilities Incompetency as a result of new recruitments on going in the company Influx of several companies joining telecommunication industry Newness of one.tel into the industry Stiff competition in the industry from other stable telephony providers The expansion in inherent risk in One.Tel Telecommunication Company may be as a result of the insufficiency of administration abilities by the directorate identities who are new to the framework. In the events of few individuals with numerous obligations the rate of an increased inherent risk always stands high as the personalities are more likely to make mistakes.   One.Tel is working all around in the overall business sector. In the last trading period the association amassed a total of $M 678.2 from the arrangements in the overall business division. The association accumulated $M 429.4 from Australia, $ 144 million from the UK, France $ 15.1 million, $36.6 from Netherlands, $M 39.2 Hong Kong in conclusion $13.2 million from various parts of the world. This information shows the clumsiness on net offers of the association in the overall business segment (Al Nawaiseh and Jaber 2015). The association is a starting affiliation which infers new workforce enrollments who must grasp to the business structures of operations. Exactly when new characters are brought on board there is likely hood of oversights provoking extended inborn dangers. (New agents may be unfaithful to the evaluator to cover their idiocy inciting an extension in the intrinsic danger. There might be affectations for relationship to distort the budgetary report amplifying the inalienable risk. The motivations can be either from inside environment or the outside environment (Kerler and Brandon 2010). A valid example the shareholders' worth is extremely uncommon by virtue of One.Tel Telecommunication Company (Dusenbury et al. 2000). The Company has got shareholders' estimation of $M (365.6) which is seen to be abnormal. Such kind of recordings may be as result of longing for extended advantage by the association who may distort figures to procure a prize. Combinations in business and intense conditions would be foreseen to influence the inherent danger risk of a given substance like one.tel in the media transmission industry. The association is going up against strong competition from stable media transmission firms like Telstra owning 57% of the total supplies, Optus 31% and Vodafone owning 115 of whatever is left of the bits of the general business (Humphrey and Miller 2012). If there should be an occurrence of such firm competition, inalienable danger of little association joining the business revives at a higher speed. There is an inconceivable number littler scale transporters joining the business inciting an arrangement of compact supplier benefits and reduced expenses. The surge is as an eventual outcome of high competition, diminished earnings, expenses and low wage period per association inciting high inherent risk. The association has as of late joined the business in this way experiencing budgetary instability.it is exceptionally obvious that all the more consistent economies like that of Optus, Vodafone and Telstra are not slanted to dangers appeared differently in relation to various associations joining the systematic one. Less consistent economies attract high natural danger since there is nonattendance of business organization and operations inside a given industry inciting high characteristic danger. The gathering or the commentator evaluates the variables of the threats through sensible appraisal Evaluation of risk results into two sorts of threats which for this circumstance is an inherent risk. The recognized risk is a section of material misrepresentation of the cash related verbalization motivated by a couple of variables (Wilks and Zimbelman 2004). Variables relating to deception can be recognized in the midst of procedure change process while those component that prompts an expansion in inborn as a result of blackmail are identifiable by method for the AU demonstration 316. The above recorded elements coming as a consequence of misrepresentation can be distinguished and oversaw at a lower preliminaries of appraisal. Components prompting an expansion in inherent risk at the bookkeeping level Several abnormal transaction for the period ended Weakness of advantages for misfortune or misappropriation Conclusion required in deciding record parities As demonstrated by the books of records given the association is running more on liabilities than the advantages. In the event that the Ratio of liabilities to assets is high the rate of natural dangers climbs (Elder and Allen 2003). One.tel Company is experiencing wild augmentation in liabilities as showed in the books of record, current liabilities has extended in terms of finance in the late one year provoking an extended innate danger at the accounting level. This has been as an outcome of a development in the game plans, measure of got capita and the records payable. There is diminished rate of pay into the association provoking an extended characteristic danger. The abnormality of the figures in the receivables have reduced and the association needs to examine it from the edges (Allen et al.2006). The rate of pay period through the receivables has reduced from small amount into a higher value in the last ended period.   The rate of an expansion in the characteristic danger is high at the bookkeeping level when we make exchanges which require new preparing. In case of such case the evaluator of a business substance like One.Tel Telecommunication Company may commit errors prompting an expansion in inalienable danger. The benefit report gave indicates high rate of shareholders being brought into the association. This has been seen through the development in shareholders' quality. The association has issued an extensive measure of shares to get wage for the operations. Right when there is high shares being issued it happens into an extended inalienable rate at the books of records (Blay et al 2011). The rate of association borrowings have enlivened in the last trading period. Right when an association is chipping away at the reason of commitments the rate of inherent danger in the books of records upturns. The event of tremendous exchanges the middle of the exchanging day and age has a conceivable expansion the inalienable danger. Precisely when another exchange happens unequivocally towards the end of an exchanging period, there are high odds of slips in the books of records. Such different operations might be a test to the examiner and agents and may understand high characteristic hazard (Haron et al 2009). Right when an exchange is attempting, analysts may perform wrong strategy in the records in this way increment the trademark danger. A valid example the advantage and incident record given in the occasion that shows bizarre trade which has exceedingly extended. These peculiar trades may be as a delayed consequence of fakes achieved by weight from various environment. In the event that the arrangement amid an exchanging period is convoluted, it is likely that there will be an expansion in innate danger. Regarding One.Tel Telecommunication Company, the books of records shows complex sorts of exchanges, for example, the shareholder's disparity, stores and profit might be hard to comprehend prompting high innate danger at the bookkeeping level. The sort of judgment made by the evaluator amid the way toward adjusting of reviewers is prone to impact characteristic danger. In the event that the record report on a given exchange might be actuated by a few variables inside the organization (Gaganis and Pasiouras 2007). These judgments can be influenced by the sort of operation and the administration weight. The weakness of the organization's advantages for misfortune or misappropriations prompts expanded intrinsic danger at the bookkeeping level. Amid the exchange passages, it is apparent that straightforward misappropriation of a benefit result into quickened characteristic danger. Case in point taking scattering of an advantage for obligation may prompt an expansion in the innate danger (Herd and Lavelle 2014). There are several factor according the given financial report leading to the area of going concern. The area of going concern is based on accounting and audit report from the previous trading period. The financial reports from the company indicates the rate instability the company is experiencing. The company’s books of accounts indicates an increased rate of borrowings performed by the organization in the recent trading period (Carson et al. 2012.). It is clear from the above trade that the rate of going concern depends more on kind of benefit and misfortunes in the money related declaration. If there should be an occurrence of low benefit era, the nature of going concern stays low, when the sorts of a benefit is medium or high, the going concern is either low or high. Intrinsic danger in the association's cash related clarification is regarded to be high since the association works in a significantly controlled industry (Sanni and Zainab 2011). Regardless of the way that the suspicion may be correct, it is hard to coordinate the going with conditions that may provoke the going use of a going concern. The method for a running stress in run with depends on upon the utilization of the stipulated cash related framework. The way of productivity of a business impacts the way of the going worry as either low, medium or high. The organization is additionally having refundable shares of from the shareholders’ value. Regardless this clarifies the present circumstance the business and the need of going concern. One.tel media transmission organization chiefs and the review group ought to clarify conclusions whether to leave the business or continue in light of the going concern (Normah 1999). The area of going concern in this case is seen to be high based on the following issues. The company is running in debts, there is high rate of risks, poor management as a result few board managers and high share being issued to the public. Financial risk assessment is very important for the growth of any given business entity. It is clear as seen in the above discussion shows the relevance of the Nature of auditing performed in the business. The company is clearly running in negative indicating the need for the application of the area of going concern (Zainab et al. 2013). It is upon the audit team and the company board of management to make decision based on the area of going concern. The area of going concern is one of the hypotheses developed by GAAP frameworks. The area of going concern applied to any business depends on the relation of profit and losses. When the company is running at a loss the rate of going concern becomes proportionally high. Zainab, A.N., Sanni, S.A., Edzan, N.N. and Koh, A.P., 2013. Auditing scholarly journals published in Malaysia and assessing their visibility. arXiv preprint arXiv:1301.5379. Normah, B., 1999, August. Malaysian serials: issues and problems. In 65th IFLA Council and General Conference, Bangkok, Thailand (pp. 1-8). Sanni, S.A. and Zainab, A.N., 2011. Evaluating the influence of a medical journal using Google Scholar. Learned Publishing, 24(2), pp.145-154. Carson, E., Fargher, N.L., Geiger, M.A., Lennox, C.S., Raghunandan, K. and Willekens, M., 2012. Audit reporting for going-concern uncertainty: A research synthesis. Auditing: A Journal of Practice & Theory, 32(sp1), pp.353-384. Menon, K. and Williams, D.D., 2010. Investor reaction to going concern audit reports. The Accounting Review, 85(6), pp.2075-2105. Blay, A.D., Geiger, M.A. and North, D.S., 2011. The auditor's going-concern opinion as a communication of risk. Auditing: A Journal of Practice & Theory, 30(2), pp.77-102. Feldmann, D.A. and Read, W.J., 2010. Auditor conservatism after Enron. Auditing: A Journal of Practice & Theory, 29(1), pp.267-278. Geiger, M.A. and Rama, D.V., 2006. Audit firm size and going-concern reporting accuracy. Accounting Horizons, 20(1), pp.1-17. Geiger, M.A. and Rama, D.V., 2006. Audit firm size and going-concern reporting accuracy. Accounting Horizons, 20(1), pp.1-17. Haron, H., Hartadi, B., Ansari, M. and Ismail, I., 2009. Factors influencing auditor’s going concern opinion. Asian Academy of Management Journal, 14(1), pp.1-19. Gaganis, C. and Pasiouras, F., 2007. A multivariate analysis of the determinants of auditors' opinions on Asian banks. Managerial Auditing Journal, 22(3), pp.268-287. O'Reilly, D.M., 2009. Do investors perceive the going-concern opinion as useful for pricing stocks?. Managerial Auditing Journal, 25(1), pp.4-16. Fitriani, L. and Sudarsono, D.T.E., 2007. Disclosure Index laporan Tahunan 2004 Emiten di BEJ. PESAT, Gunadarma, 2. Allen, R.D., Hermanson, D.R., Kozloski, T.M. and Ramsay, R.J., 2006. Auditor risk assessment: Insights from the academic literature. Accounting Horizons, 20(2), pp.157-177. Elder, R.J. and Allen, R.D., 2003. A longitudinal field investigation of auditor risk assessments and sample size decisions. The Accounting Review, 78(4), pp.983-1002. Wilks, T.J. and Zimbelman, M.F., 2004. Decomposition of Fraudà ¢Ã¢â€š ¬Ã‚ Risk Assessments and Auditors' Sensitivity to Fraud Cues. Contemporary Accounting Research, 21(3), pp.719-745. Dusenbury, R.B., Reimers, J.L. and Wheeler, S.W., 2000. The audit risk model: An empirical test for conditional dependencies among assessed component risks. Auditing: A Journal of Practice & Theory, 19(2), pp.105-117. Mock, T.J. and Wright, A., 1993. An exploratory study of auditors' evidential planning judgments. Auditing, 12(2), p.39.

Business research project Essay Example | Topics and Well Written Essays - 2000 words

Business research project - Essay Example According to Bruce (2001) until now the demand to sensitize the business teachers who are trained to enhance international field experience has been driven further and acknowledged widely. This is due to the movement of world cultures and global contacts that are increasing through international experience. In this respect, the new rule is that many businesses are increasing their diversity and enrolling their employees with challenging and unique needs to teachers that are recruited internationally. This has made managers and business employees to be agents of responsibility for global and cultural responsibility within the business. In business management, international field experience is a vital aspect to the educational professionals who prepare for natural resource and business management industries. It gives out experience which reinforces the instruction of the business management. It also gives out a chance to business students to engage and observe the application of the kn owledge that has been acquired. This means that international field experience helps employees to achieve valuable insights towards the operation and organization of agencies and businesses in different industrial sectors. In this regard, field experience that is properly supervised and pursued with enthusiasm could be of significant meaning towards business management. However, there is hardly any research that has been done concerning the relevance of international field experience on business management. For this reason, this paper proposes a study to investigate the impacts of international field experience on business management. In this study, we will hypothesise that international field experience has increased positive impacts on business management. Purpose of international field experience. Field experience is a factor which is of great importance in business management. Its main purpose has always been to give managers a business of combining the theoretical studies with an application of practical knowledge in the actual environment of work. In the business students’ academic program, field experience plays a crucial role as it gives students a room for application of the knowledge gained while in the classroom. Field work also gives students a chance to continue learning under a professional supervisor during the field work. Additionally, student interns should always undertake their study abroad responsibilities with professional and quality dedication. Student interns are also expected to be assets to the agency of placement and that they need to establish an enormous contribution due to their experience in the work. The objective of the research. This is a research work that is set out to among other things achieve one key objective. Thus, the overarching objective was to find out the impacts of international field experience on business management. The topic to be examined would be the impacts of field experience on business management. Research Questions There are three essential questions considered in this study. These questions can support the research in its objective of achieving the possible answer to the thesis. What does International field experience entail? What are the effects of such international fie

Pay Equity Solutions Essay Example | Topics and Well Written Essays - 2500 words

Pay Equity Solutions - Essay Example In 1967 the wage gap between men and women was 58.4% which increased to 72.5% by the end of 1997 (Drolet, 2001). The wage gap is even wider when it comes to nationality, looks, skills and learning ability, color, religion, caste, social and marital status of women. Pay equity revolves around the concept of equal payments to equivalent job tasks irrespective of the worker’s gender. Women have a right to be paid equally as men on the basis of the skills and knowledge. It in one of the basic women rights which is protected by the constitution. Equality Provision is mentioned in the 15th section of the Canadian Charter of Rights and Freedom (Harewood, 2004). Additionally the Canadian Human Rights Act strictly forbids the discrimination in wages on the basis of gender. The law is applicable to all the employees working under the public or private businesses sector. Some Canadian provinces such as Manitoba and Ontario have their specific laws regarding pay equity which is applied wi thin the provincial jurisdiction to all the private and public sector employees. However, despite of all the laws, rules and regulations pay equity is a major problem for Canadian women since it is hardly accessible and very few women are able to avail its advantages (Harewood, 2004). Employees of some of the most reputable organizations such as Bell Canada, Canada Post, Telus and Air Canada have been striving hard to gain pay equity since years yet they haven’t met success (Cote, 2006). This calls for an immediate action in order to extend protection to the female employees and also to restore their fundamental human rights. In this regard we have some successful applications of pay equity legislation such as the one applied in Ontario... Once the law is established for the enforcement of pay equity then it is the obligation of employers to abide by its rules and regulations in order to maintain its essence and also to protect themselves from possible penalties which might fall on them due to law violation. There should be a pay equity commission which would be responsible for the perfect implementation of laws. The commission would also extend educational awareness and techniques of skill development to the employees so as to ensure pay equity in addition to increasing their productivity level. Employees would also be able to register their complaints against pay discrimination and they would be allowed to formulate their specific pay equity strategies. Here the government would have to play its role by extending sufficient funds to the commission so that it can perform its tasks effectively and efficiently. Women maintain a significant proportion of today’s work force which requires them to be more efficient so as to meet the modern age needs and demands. When women face issues related to pay equity then they fail to contribute in the best way towards the organizational goals and objectives. In this paper, some of the most significant solutions to resolve the issue of pay equity are explained including job evaluation, job category, employee evaluation, etc with the help of analyzing Ontario example and other successfully implemented pay equity laws. It is very important to implement effective legislative laws in Canada so as to get rid of the wage gap.

Homework Assignment Example | Topics and Well Written Essays - 250 words - 3

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A Matrix of Functions under the Umbrella Company Essay - 1

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US company expanding to Italy Research Paper Example | Topics and Well Written Essays - 2000 words

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