Bba Project On Industrial Visit 1j4k1q

INDEX SR NO 1 2 3

TOPIC

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INTRODUCTION GUEST LECTURE 1 GUEST LECTURE 2

4 5 6 7 8 9 10 11

GUEST LECTURE 3 VOLKSWAGON GUEST LECTURE 4 HINDUSTHAN COCO COLA GIT’S LE MEREDIAN CONCLUSION BIBLIOGRAPHY

2-21 22-27 2832 33-36 37-41 42-47 48-53 54-57 58-61 62 63

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Introduction

While industry is concerned with the production of goods , commerce is concernd with making th e same available to those who need them in other words, commerce is mainly concerned with the distribution of goods , it embrases all those functions which are essential for maintiang a free and uninterupted flow of goods. Therefore the term commerce includes 'trade' and 'aids' to trade .

MEANING Commerce is a branch of business. It is concerned with the exchange of goods and services. It includes all those activities, which directly or indirectly facilitate that exchange. 2

Commerce looks after the distribution aspect of the business. Whatever is produced it must be consumed, to facilitate this consumption there must be a proper distribution channel. Here comes the need for commerce which is concerned with the smooth buying and selling of goods and services. DEFINITION: According to james Stephenson, “commerce is an organized system for the exchange of goods between the of the industrial world.”

The importance of trade and commerce are mentioned in following points :-

1. Commerce tries to satisfy increasing human wants

Human wants are never ending. They can be classified as 'Basic wants' and 'Secondary wants'. Commerce has made distribution and movement of goods possible from one part of the world to the other. Today we can buy anything produced anywhere in the world. This has in turn enabled man to satisfy his innumerable wants and thereby promoting social welfare.

2. Commerce helps to increase our standard of living

Standard of living refers to quality of life enjoyed by the of a society. When man consumes more products his standard of living improves. To consume a variety of goods he must be able to secure them first. Commerce helps us to get what we want at right time, right place and at right price and thus helps in improving our standard of living.

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3. Commerce links producers and consumers

Production is meant for ultimate consumption. Commerce makes possible to link producers and consumers through retailers and wholesalers and also through the aids to trade. Consumers get information about different goods through ments and salesmanship. The manufacturers are regularly informed about the likes and dislikes of the consumers through marketing research. Thus commerce creates between the centers of production and consumption and links them.

4. Commerce generates employment opportunities

The growth of commerce, industry and trade bring about the growth of agencies of trade such as banking, transport, warehousing, advertising, etc. These agencies need people to look after their functioning. Increase in production results in increasing demand, which further results in boosting employment opportunities. Thus development of commerce generates more and more employment opportunities for millions of people in a country.

5. Commerce increases national income and wealth

When production increases, national income also increases. In a developed country, manufacturing industries and commerce together s for nearly 80% of total national income. It also helps to earn foreign exchange by way of exports and duties levied on imports. Thus, commerce increases the national income and wealth of a nation.

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WHAT IS BUSINESS? Business is an economic activity. It is related to the continuous and regular production and distribution of goods and services for satisfying human wants/ needs. “ Business refers to a form of activity conducted with an objective to earning profits for the benefit of those on whose behalf the activity is conducted”. Industry is a part of business. Therefore, business deals with numerous transactions such as exchange of goods and services to earn profits. Business also includes many risks and uncertainties. Business is a broad concept.

WHAT IS INDUSTRY ? Industry is production of an economic goods or service within an economy it can also be defined as group of companies that manufacture products and services which are closely realated to each other it is an general business activity .

DEFINITION 1. The manufacturing or technically productive enterprises in a particular field, country, region, or economy viewed collectively, or one of these individually. A single industry is often named after its principal product; for example, the auto industry. For statistical purposes, industries are categorized generally according a uniform classification code such as Standard Industrial Classification (SIC).

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2. Any general business activity or commercial enterprise that can be isolated from others, such as the tourist industry or the entertainment industry

INDUSTRIAL SECTORS The economy is divided into various sectors. This is done to understand how much of the population is engaged in which work. These sectors help to understand the economy better. Following are the types of sectors

P S T Q U R E IA I C R T N M O T E A IN R R A N Y A D R A R Y R Y Y S E C T O R S

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PRIMARY SECTOR HUNTING FISHING MINNING LOGGING AGRICULTURE

SECONDARY SECTOR MANUFACTURING REFINING ASSEMBLING PROCESSING

TERTIARY SECTOR

QUATENARY SECTOR

QUINARY SECTOR

TRANSPORTATION COMMUNICATION UTILITIES

WHOLESALE COMMERCE INSURANCE BANKING LEGAL SERVIES ADVERTISING

EDUCATION GOVERNMENT TOURISM MEDICAL PROFESSION

PRIMARY SECTOR PRIMARY SECTOR in the economy is basically related to extracting and harvesting form the earth. It includes growing crops ie agriculture. Other than agriculture it also deals with fishing, hunting, grazing, mining, etc. It also includes processing and packing of raw material.

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SECONDARY SECTOR The SECONDARY SECTOR manufactures finishes goods. All the processing, manufacturing and construction work comes in secondary sector. All the activities related to production, chemical, engineering industries, aerospace manufacturing, textile, breweries and bottles, shipping, etc. Example: Amul Industry. These process the milk and produce different things from it and sell it.

TERTIARY SECTOR The TERTIARY SECTOR is basically the service industry. This sector provides to the general population and to business. Activities included in this sector are transportation, distribution, media, etc. Most developing economies have a growing proportion of tertiary sector.

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QUATERNARY SECTOR The QUATERNARY SCETOR consists of intellectual activities. This group is involved in the research of science and technology. They include scientists.

QUINARY SECTOR This sector involves highest level of decision making in a society or economy. The activities are bound by some rules and regulations. QUINARY SECTOR involves activities such as hospitality, tourism, education, healthcare, ment, etc.

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INDUSTRIAL REVOLUTION

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The INDUSTRIAL REVOLUTION started in the period of 1760 till 1840. This period completely changed the world. During this period a change from hand production to machine production took place. It included changes from usage of wood to fuel. It 1st started in England and then spread to Western Europe and The United States. The INDUSTRIAL REVOLUTION was a turning point in the history of the world.

WHY DID INDUSTRIAL REVOLUTION HAPPEN? Until the early 18th century most people lived off the land ie depended on agriculture but in the 15 years that followed there was an unprecedented explosion of ideas and invention of technology which created an increasingly industrial and urbanised county. There was in an increase in population which resulted in increase of food production. Due to increase in population the demand for cloth also increased. During that time cloth was made by hand for pants, shirts, etc. As the population grew more people were ready to buy textile goods. The cottage industry could not keep up with the demand of the growing population. Hence a series of innovations shifted textile production to a new factory system. The people were rules by small political and social lite. During that era cold was used a lot and formed the basis for the revolution. The British had large coal mines. This lead to use of coal ; which lead to the invention of steam engine.

SITUATION BEFORE INDUSTRIAL REVOLUTION The situation before the revolution was quite different from today. There were limited means of communication. There was o infrastructure development. There wasn’t any indoor plumbing facility. Food was produces locally ie there were not many imports or exports. People from villages and small towns used to migrate to the city to work in factories. Health facilities were poor. Education was poor. Only the rich got good education and tutors. The schools and universities were not for common man. They were only reserved for the nobility. Politics was based on land ownership and military rank. Women did not have rights. People were exploited. 11

DURING INDUSRIAL REVOLUTION         

People began to migrate to cities for job opportunities The disparity between the rich and poor increased Production of industrial goods took place New discoveries and inventions were made New modes of transport were introduced Better roads were made Railways allowed mass transport of goods; promoting trade Import and export of goods started and began to increase The life expectancy of children increased

INVENTIONS AND DISCOVERIES             

JAMES WATT INVENTED THE STEAM ENGINE ALEXANDER GRAHAM BELL INVENTED THE TELEPHONE EDWARD JANNER DISCOVERED A VACCINE TO SMALL POX MARCONI INVNETED WIRELESS TELEGRAMS MARRIE CURIE DISCOVERED RADIOACTIVITY JETHRO TULL INVENTED THE SEED DRILL BARTOLOMEO INVENTED THE PIANO JAMES HARGREAVES INVENTED THE SPINNING JENNY RICHARD ARKWARIGHT PATENTED THE SPINNING FRAME DAVID BUSHNELL INVENTED THE SUBMARINE BENJAMIN FRANKLIN INVENTED BI-FOCAL EYE GLASSES GERNIVUS INVENTED THE CIRCULAR SAW THE MONTQOLFIER BROTHERS INVENTED THE HOT-AIR BALLON  COUNT ALESSANDRO VOLTA INVENTED BATTERY  THE WRIGHT BROTHERS INVENTED AEROPLANE  THE INTERNAL COMBUSSION ENGIN WAS INVENTED IN 1870

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SITUATION AFTER INDUSTRIAL REVOLUTION Since the industrial revolution was new at the end of the 18 th century there were initially no laws to regulate new industries. No laws prevented children from working in factories. No rules were made for disposal of hazardous wastage. Due to immigration; the cities got over crowded which resulted in unhealthy living conditions. There was a spread of epidemics. Free market capitalism meant that the government had no role in regulating the new industries or planning services for new towns. The revolution lead to urbanization. Small cities like Manchester also grew. This process of urbanization stimulated the booming new industries and giving jobs to lots of people. 13

Industrial revolution resulted in discovery of cures of diseases like small pox. The face of medicine also began to change. New and modern approaches to medicine were seen.

INDUSTRIAL REVOLUTION AND INDIA India was under British rule when the Industrial revolution occurred. Indian farmers were forced to grow cotton to fuel the English factories. Instead of growing food crops , cash crops were grown. This resulted in famines in India. Industrial Revolution ruined India that time. The British forced the Indian farmers to produce cotton. Many Indian weavers were killed.

AUTOMOBILE INDUSTRY: With the increasing growth in demand on back of rising income, expanding middle class and young population base, in addition to a large pool of skilled manpower and growing technology, will propel India to be among the world's top five auto-producers by 2015. India is also one of the key markets for hybrid and electric medium-heavy-duty trucks and buses. India is an extremely important market for Hyundai. The Indian automobile sector is poised for steady and strong growth in the future. The Indian automobile industry holds good growth potential for the mid-term and long term horizon, as per Mr Bo Shin Seo, MD and CEO, Hyundai Motor India Ltd (HMIL).

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Moreover, Ford Motor Co plans to convert India into global production centre for compact cars, once its Sanand plant in Gujarat comes on stream in 2014, under a project codenamed B562 that may induce three different compact cars from the same platform. The Indian automobile industry produced a total 1.69 million vehicles including enger vehicles, commercial vehicles, three wheelers and two wheelers in August 2013 as against 1.56 million in August 2012, ing a growth of 8.18 percent over the same month last year. The cumulative foreign direct investment (FDI) inflow into the Indian automobile industry during April 2000 to July 2013 was recorded at US$ 8,932 million, amounting to 4.5 per cent of the total FDI inflows (in of US$), as per data published by Department of Industrial Policy and Promotion (DIPP), Ministry of Commerce. The overall automobile exports grew by 2.03 per cent during April-August 2013. Furthermore, the production of enger vehicles in India was recorded at 3.23 million in 2012-13 and is expected to grow at a compound annual growth rate (CAGR) of 13 per cent during 2012-2021, as per data published by Automotive Component Manufacturers' Association of India (ACMA).  Hero MotoCorp plans to establish 20 manufacturing and assembly facilities to expand its presence across 50 countries by 2020. Maruti Suzuki India Ltd (MSIL) is setting up an operational integrated research & development (R&D) centre in Rohtak, Haryana. The test tracks at the new facility would be longer and considerably enhanced in technical capabilities than the ones at the Suzuki Motor Corp (SMC) facility in Japan  Tech Mahindra has signed an agreement with Volvo Car Corporation. The IT company will provide Volvo with a service to maintain and develop a range of applications that can increase efficiency and reduce costs

TATA MOTORS Tata entered the commercial vehicle sector in 1954 after forming a t venture with DAIMLER BENZ of . After years of dominating the commercial vehicle market in India, Tata Motors entered the enger vehicle market in 1991 by launching the TATA SERIA, a multi utility vehicle. Tata launched the INDICA in 1998, the first fully indigenous Indian enger car. In 2008, Tata Motors acquired the British car maker JAGUAR , manufacturer of the Jaguar, Land Rover and 15

Daimler luxury car brands, from Ford Motor Company. Tata Motors is among the top four enger vehicle brands in India with products in the compact, midsize car and utility vehicle segments.

IT INDUSTRY: The IT&IT’S industry in India has today become a growth engine for the economy, contributing substantially to increases in the GDP, urban employment and exports, to achieve the vision of a powerful and resilient India. Indian firms, across all other sectors, largely depend on the IT & IT’S service providers to make their business processes efficient and streamlined. Indian manufacturing sector has the highest IT spending followed by automotive, chemicals and consumer products industries. Nasscom expects the IT services sector in India to grow by 13-14 per cent in 2013-14 and to touch US$ 225 billion by 2020. India’s total IT industry’s (including hardware) share in the global market stands at 7 per cent; in the IT segment the share is 4 per cent while in the IT’S space the share is 2 per cent. The industry is dominated by large integrated players consisting of both Indian and international service providers. During the year, the share of Indian providers went up to 65 per cent-70 per cent due to the emerging trend of monetisation of captives. India's IT and BPO sector exports are expected to grow by 12-14 per cent in FY14 to touch US$ 84 billion - US$ 87 billion, according to Nasscom. IT spending in India is projected to reach US$ 71.5 billion in 2013, an increase of 7.7 per cent as compared to US$ 66.4 billion projected for 2012, as per a report by Gartner. enterprise software market in 16

India is expected to reach US$ 3.92 billion in 2013, ing a growth of 13.9 per cent over 2012 revenue of US$ 3.45 billion, according to Gartner. Indian IT's core competencies and strengths have placed it on the international canvas, attracting investments from major countries. Between April 2000 and June 2013, the computer software and hardware sector attracted cumulative foreign direct investment (FDI) of Rs 53,757.60 crore (US$ 7.97 billion), according to data released by the Department of Industrial Policy and Promotion (DIPP).More recently, online retailing, cloud computing and e-commerce are the major driving forces behind the rapidly increasing growth in the IT industry. Online shopping has increased with the emergence of internet retailing and ecommerce. Some of the major investments in Indian IT and IT’S sector:  Baring Private Equity Partners Asia plans to buy IT services firm Hexaware Technologies in a deal estimated at $ 400 million.  Cognizant has been selected by the Saudi Electricity Company (SEC) to develop a comprehensive billing and revenue management solution based on SAP utilities enterprise software to meet the functional, technical, and operational requirements of SEC's rapid growth .  Prisma Global has acquired majority stake in German technology venture Prisma Gmbh for about Rs 27 crore (US$ 4.00 million). The company will now own the Intellectual Property (IP) of technologies developed by the German firm .  Wipro Ltd have secured a large IT outsourcing contract worth US$ 500 million from the US-based financial services company Citigroup. Wipro will be responsible for application development and maintenance, as well as providing infrastructure management services, for Citi's global operations .  Tech Mahindra has signed a five-year agreement with UBS Fund Services (Luxembourg) (UBS FSL) for its new platform, Tech Mahindra Managed Data Services (MDS), designed to asset managers, wealth managers, investment banks, custodians and s. The company’s Brazilian subsidiary Complex IT has also signed two deals to deliver enterprise solutions for oil and gas, and banking sector.

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INFOSYS: An example of IT sector is Infosys. It is an Indian multinational provider of business consulting, information technology ,software engineering and outsourcing services. It is headquartered in BENGLURU, KARNATAKA Infosys is the 3rd largest IT company in the world, and the second largest employer of professionals in the United States, as of 2012 On 28 March 2013, its market capitalization was $30.8 billion, making it India's sixth largest publicly traded company. It was cofounded by Narayana Murti,Nandan Nilekani, N S Raghavan.

RESEARCH &DEVELOPMENT The aim of research and development is to improve the current technologies offered by an organization or to develop innovation that strengthen the organizations position in the market place. Research and development is one of the means by which business can experience future growth by developing new product or processes to improve and expand their operations. Now-a-days research and development has become very important in the business world. The decisions are also made with help of research and development. It is important in business due to level of competition, production processes and method increasing. EXAMPLE:

A supplier of prebaked and frozen dough products had suspicions concerning the ability of its frozen product to withstand the rigors of freeze-thaw abuse during the distribution cycle. Working with the supplier, AIB Research staff developed a test protocol that mimicked the various steps and temperature swings that might be encountered during production and shipping. Product temperatures were recorded and other tests istered, the results of which

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indicated the need for upgrades in packaging materials and handling instructions. As this manufacturer shipped all its goods by common carrier, turning to AIB for assistance allowed it to maintain control over the test design, and removed any bias from the results. The dollar savings realized by utilizing AIB's services for this important project paled in comparison to the loss of customer goodwill caused by receiving thawed, unusable product.

H AND DEVELOPMENT SECTOR

HOSPITALITY INDUSTRY: • Hospitability is a realtionship between a guest and host. it is also refered as friendly and generous reception and entertainment of guests , visitors or starngers. Hospitability management is an area of study that concentrates with the management oh hotels , restraunts, travel agencies and other organisation in the hospitabilitiy • Hotels are an important component of the tourism product. They contribute in the overall tourism experience through the standards of facilities and services offered by them. The fortunes of the hospitality industry have always been linked to the prospects of the tourism industry and tourism is the foremost demand driver of the industry. • Travel & tourism’s contribution to capital investment is projected to grow at 6.5 per cent per annum during 2013-2023, above the global average of five per cent. The tourism policy of Government of India aims at speedy implementation of tourism projects, development of integrated tourism circuits, special capacity building in the hospitality sector and new marketing strategies. • Case study

TAJ HOTEL GORUP: The Taj hotel resorts and palaces is an Indian chain of hotels and resorts. They have the head branch in Mumbai. It is a part of the TATA GROUP. They own 19

and operate 93 hotels in 55 locations in India. They have around 16 international hotels in places like Australia, Malaysia, etc. Since the late-2000s, the Taj group started organizing its hotels into different brands, in a market segmentation strategy. As of December 2011, not all hotels have been rebranded - some properties still retain the generic "Taj" brand and await classification. The Taj Hotels Resorts and Palaces are groups most luxurious hotels and resorts. These hotels cover business destinations, landmarks, palaces, resorts and forest destinations. Most of Taj's oldest and most prestigious hotels have been retained under this brand. Two speciality brands developed under the Taj are :  Taj Exotica, the resort brand in Maldives, Mauritius and Goa.  Taj Safaris, Taj's nascent wildlife lodge brand. It is expected to cover Taj's , high-end forest lodges and destinations.

Vivanta is a contemporary-luxury hotel brand. The brand caters to an upscale market and is positioned a step below the flagship Taj brand. Vivanta Hotels are found business and vacation destinations as well. TATA GROUP also has economical hotels under the name Ginger.

EDUCATION SECTOR: Education in India is provided by the public sector as well as the private sector, with control and funding coming from three levels: central, state, and local government. Education in India falls under the control of both the Union Government and the State Governments, with some responsibilities lying with the Union and the states having autonomy for others. India has made progress in of increasing the primary education attendance rate and expanding literacy to approximately three quarters of the population. The private education market in India was 5% and in of value was estimated to be worth US$40 billion in 2008 but had increased to US$68–70 billion by 2012 .As per the Annual Status of Education Report (ASER) 2012, 96.5% of all rural children 20

between the ages of 6-14 were enrolled in school. This is the fourth annual survey to report enrolment above 96%. 83% of all rural 15-16 year olds were enrolled in school. Gross enrolment at the tertiary level has crossed 20% as per an Ernst & Young Report cited in Jan 2013 in Education News. The education Sector in India is growing rapidly. The number of enrolments in schools and colleges has increased a lost in the past 10 years. More number of females are receiving education. There are many schools opened at rural level across many villages. Children in those schools get mid day meals every day. The basic challenge for India is to provide quality education.

MANIPAL UNIVERSITY: Manipal University is recognized for imparting high quality professional education and believes in providing world- class infrastructure and facilities to the students. It is located at the southwest part of India. It is a well recognised university for educational excellence for the past 5 decades. The university offers more than 180 courses across 13 diverse disciplines and is home to many of India’s top ranked educational institutions — including Manipal’s Medical College, Institute of Technology, College of Pharmaceutical Sciences, and Graduate School of Hotel istration. Its high profile faculty and world class infrastructure attract students from over 50 different nationalities. Manipal University enrols over 14,000 students every year and has an active alumni base of more than 65,000 students across the world. Their main aim is to provide leading educational facilities and infrastructure. As part of its vision to provide leading educational facilities and infrastructure for its students and faculty, Manipal University was seeking to unwire its campus and deliver a ubiquitous wireless LAN and wireless broadband network throughout the 5 square km campus. To fully the university’s educational needs, the wireless network had to deliver video and data uniformly across indoor and outdoor campus spaces, as well as . They had to build many new buildings and reconstruct over 25 buildings. The campus-wide, high-speed wireless network helps Manipal University realize its vision of offering best-in- class educational facilities. By deploying a high speed ubiquitous Wi-Fi network throughout its entire campus, the university is able to give students and faculty the technology foundation to enrich the educational experience, increase productivity and 21

improve communication. Their students and faculty can now access a range of online services and information from the Internet and the Intranet, anytime and anywhere the university’s very large base of students, faculty and guests. With their wireless connection they have achieved their aim of providing leading education. Today Manipal Universirt is one of the leading universities in Inida due to their vision and aim at providing quality education. CONCLUSION: The Indian economy is the ninth largest economy of the world and also one of the fastest growing world economies. This growth is attributed to various Indian industries which have grown tremendously post independence to increase national income, to generate employment and to generate foreign earnings. India was initially an agriculture based economy but after liberalization norms of 1991 particularly, the services sector has taken a lead contributing the most to the gross domestic product. Presently the agricultural, manufacturing and service sector for 16, 27, 57 percent of GDP respectively. The most important industries from the point of view of Indian economy are listed below:

MANAGEMENT CONTROL SYSTEM Guest Lecture 1: Management Control System Guest Speaker Mrs. Asavari Oak Date: 21st December 2013 Venue: Ness Wadia College of Commerce Timing: 10:30am - 12pm

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Introduction Ness wadia college of commerce conducted a guest lecture for its Second Year BBA and BBM(IB) studentds on the 21st of December 2013, the guest was Ms Asavari Oak. The purpose of the lecture was to impart knowledge to the students on the topic of Management Control Systems Ms Asavari Oak has ed the CA, ICWA and A examinations in her first attempt. She has also stood first in ISRF exam conducted by ACCA. She stood second in the B.COM course in university of Pune and first in India in She has had fourteen years of industrial experience in USA and India.

Ms Asavari Oak stated that the organization goal must be clear and emphasized the need for knowing why one is doing business for successfully deg management control system. There should also be goal congruence within the various departments for sucess. For a better understanding of the topic she took the example of a hotel industry. The basic goals for hotel industries are customer satisfaction, profit maximisation and expansion. The sub processes that are in a hotel are valet, check-in, room-service, dining and other facilities, check-out and payment. There maybe certain risks in all these sub processes. “A risk can be defined as something that prevents someone from achieving their goal. E.g risk at front office(front desk) could be pocketing of money.” For every risk there is a control that can be done to reduce or minimize the impact of the risk. The controls to be implemented would depend on the cost benefit. E.g in hotels there is a three way reconciliation where in three departments that are the revenue ing department, house-keeping or operations department and front office have records. More checkpoints results in more control. The likely areas experiencing risks are procurement of goods and services, work contracts for major repairs and front desk. The risks faced in these areas are spending substantial amount, unfair practices form bribery, manipulating selection of contractors, favour in supplier, acceptance of substandard services, 23

incurring extra cost to boost the value of contract, favouritism in allocating rooms, misuse of vacant rooms, pocketing of cash through manipulation in foreign exchange. Some of the controls that can be taken at the front desk are three way reconciliation, ration analysis, daily cash reconciliation, ing records, CCTV’s, etc. It is easier for one person to commit fraud hence there shoukd be a committe to control risks as there would be atleast one or two honest people in that committee. Importance was also given to a basic rule that every industry/organisation should follow, The rule was what can and cannot be accepted from a supplier. There is a very slim line between a sample and bribery. For this rules should be about procurement related issues, code of conduct and regarding acceptance of bribery rules should also be set regarding what is considered a sample or acceptable gift/tip and what is bribery. The risks that the hotel industry faces can be controlled by ascertaining the proper need, management in variation of works order, site inspection, frequent surprise visits, team rotation, video recording, site photo, variance analysis. One of the commonly faced risk in any industry is extension of time and liquidated damages. This can be controlled by including penalty clause in the contract. Companies should also practice maintaing risk s. These s record the various subprocesses of a company and the risks under them. The risks are ranked according to the maximum amount of exposure probability. RISK and FRAUD SCHEMES 1. favouritism in allocating & upgrading rooms 2. packing of cash through manipulation in money exchange 3. caputering customers credit card data for s counterfiet credit card syndicates WORK ISSUES 1. variation of works 2. site inspection 3. extension time 4. ascertaining needs 24

Grouping triangle She explained that there are three components of Fraud Triangle as shown in the figure.

1) Pressure or motivation may include financial problem, addictions like gambling,shopping,drugs, pressure to show good performance or results. 2) Rationalization is when individual thinks they are justified because they are underpaid. 3) Opportunity is created when there are weakness in controls. Individuals think they won't get caught because nobody is looking, reviewing, performing reconciliation and reviews. Then an ‘A B C’ analysis can be conducted for grouping the risks into a, b or c category. The high risk areas are grouped into ‘a’ category. Thus category needs

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compulsory controls and sharing of risks with an insurance company. The risk areas classified into ‘c’ category need to be accepted.

The typical issue of this department would be spillage i.e. not having enough rooms for the customers. The control taken should be having an arrangement with a nearby hotel and agreeing upon a predetermined rate with that hotel to prevent loss. There should also be proper documentation, proper policy of room allocation, keeping abreast of market rates, obtaining and addressing customers, and special rates for special customers

The lecture was concluded with a question and answer session in which students were encouraged to ask questions. The questions asked were whether IT sector faced any risks to which, Ms Oak replied in the positive. The risks are cost of building a product, need for proper capture of employee cost. The control should be maintainig time sheet. Another question asked was whether NGOs face risks? The answer was that NGOs do face risk in the form of limited finance, which project to choose, etc. Ms Asavari Oak concluded the lecture by saying that management control systems vary as per culture, size, activity, etc. The students learnt the basic risks involved in the management system and the effective ways to control those risks. It was a very informative and thought provoking lecture helping us to understand the practical application of the knowledge that we are gaining.

• Conclusion Mrs. Oak’s gust lecture on management control systems was productive as management control systems is a prime area of interest for most of us as management students. From the guest lecture I understand that MCS is very important concept to control risk and fraud. A good MCS should be crated by keeping the goals of organization in mind. Her lecture & presentation gave us considerable insight in to the field with facts, figures as well as the working of management control system & dynamics behind 26

it.To make the best use of MCS there should be coordination among the employers.

STOCK MARKET

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Guest Lecture 2: STOCK MARKET Guest Speaker Mr. Rohan Bhase Date: 11th January 2014 Venue: Ness Wadia College of Commerce Timing: 10:30am - 12pm

He received technician certificate from the institute of chartered ant in India. He is the visiting faculty to ILS College, symbiosis. He has worked in fields of ’s, taxation, auditing, portfolio, management, etc.

Mr Base told us that people get into share market to earn money. Share market is another source of earning money. It is ethical as well as beneficial. There is a 28

myth that share market is a gamble and it is unpredictable. It is false. The share market goes up and down constantly. If a person invests wisely then he won’t suffer major losses. Fluctuation in the market can occur due to foreign investments as well. Share market has foreign as well as domestic investors. EXAMPLE: if there are majority of foreign investors they can harm the market. One day the investors will invest a lot of amount and the next they may withdraw the entire amount. This will cause the share value of the company to go down. The market will collapse. Another example is INFOSYS. They declare dividend on a certain date. If people apply within that specified date they will get bonus shares or shares purchased at a lower price. If only foreign investors invest the share price of the company will increase but there will be a constant fear that the investors will remove the investment. But if majority of the investors are Indian ie domestic investors then even if foreign investors remove their investment the company will lose some share value but the market wont collapse. Our market won’t collapse if domestic investments are more than foreign investments. Investors mainly like to invest in blue chip companies. These are the shares of the companies which drive the market. Example : NIFTY. If the share price of these blue chip shares goes down then the market will collapse. The largest blow which the Indian market is facing is the fluctuation of share market due to FDI. To learn and get into share market it is mandatory to open a De-mat . A De-mat is an electronic where one can purchase and sell shares. It can be opened with a share brokering firm or from banks which provide De-mat along with savings like AXIS BAND. The procedure to open a De-mat is: 1. Identity proof is required 2. Address proof if required 3. PAN card number is required De-mat can be opened individually or as a group. To purchase shares money is required. Therefore the person having a Demeat must have a bank with online banking facilitates. The share market in India opens at 9:15 in the morning and shuts at 3:30 in the afternoon. 29

The speaker then told us how to invest the money. He told us that if we deposit 5 lacs in our bank we must divide it in 3 parts. The speaker told us that 20% of the money must be used for intraday transactions. Intra -day transaction means purchasing and selling of shares in the same day. SEBI and Companies Act 1056 state that ‘n’ number of shares can be purchased and ‘n’ number of shares can be sold within a day. There are no regulations from SEBI regarding intra- day transactions. For purchasing and selling shares the broker charges brokerage. The brokering firms generally charge either Rs 16 or Rs 25 or 5% on every transaction. The speaker gave us an example that suppose you purchase shares worth rupees 350, you will pay 0.5% of rupees 350 or rupees 350 +rupees 25 as brokerage. Brokering firms mainly charge rupees 25 or 0.5% on purchase of shares. The speaker gave us 2 scenarios where purchasing one share of rupees 350 with rupees 25 which amounts to rupees 375 or purchasing 100 shares along with 0.5% brokerage is more profitable. The second option is better when you purchase shares in bulk then brokerage per share goes down. If at 3 in the afternoon the price rises to Rs400 then from 400also some brokerage will be taken ir Rs10 is deducted leaving Rs 390. The brokers give us a contract note which shows additions and deductions. Brokers receive commission wither the customer faces profit or loss. The brokerage amount is fixed by the brokering house and by inflation. Brokers do not face losses. They only enjoy good amount of profits. The speaker told us about how the share market gets affected. He told us that the market is sensitive ie it gets affected by external environment like natural calamities, political environment, elections. If the party which has invested in a particular company wins the elections then the share price of that company will go up and vice versa. The speaker suggested that at the beginner’s level one should go through brokers for buying and selling shares. The speaker then told us to invest 40% of the 5 lacs in short term investment. Short term investments are done for a short period of time like a month or 12 months or even a year. It is important to make analysis of the company for short term investment. 30

Ratio analysis techniques are used to find out the earning per share for quarterly basis. Financial analysis is more reliable in deciding in which company to invest in. Technical analysis chart is another way. In this line charts are used. To review these charts go to NSE India there select live shares. You will get the graphical representation with analysis eg day chart, month chat, quarterly chart. These charts show the financial position of the company, profit margin, past performance, etc. If in all charts you rise then it is important o check the foreign investment. Example of this is Hindusthan Unilever. Ratio analysis is a very good method of checking the profitability of the company. In fundamental analysis ratios and companies issues capital with contingency capital is studies.eg TATA STEEK is the best to invest for long term investment. Their reserves in total are twice their issued capital. Charts have gone down from 2008. They show short term losses but long term profits. They are one of the blue chip companies. CONCLUSION: The speaker told us at initial stage of investment to go to the NSE INDIA site and check living shares. They give us a vague picture of the shares of future. One must invest in long term shares as they are profitable. Long term shares are those where u do not immediate profits. You will get profits after 10 years. Some of the companies where one can invest are L&T, TATA STEEL, HERO HONDA, STATE BANK, BABAJ, NESTLE, etc. The speaker told us to invest in equity market and not in airlines. He also told us not to invest in derivative or future market. It is better to invest in long term or short term investment. Invest in companies whose charts are functional and do not go straight. A company whose chart charts go straight is a dangerous one. They are bound to face major losses. The speaker also told us not to invest blindly. If one invests without any information the he will suffer huge losses. One must use their own mind and common since. One must study the financial position of the company before investing. It is good to invest at a young age. As one s early he will understand the market better which will in turn reap him profits. Share market is not a gamble. It is safe as long as the person knows what he is doing. A first 31

timer must be very careful where he is investing. More of foreign investors as compared to domestic investors can cause the market to collapse. Hence number of domestic investors need to be at par or more than foreign investors to ensure that the market does not collapse.

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LABOUR LAW

DATE: 18th January 2014 VENUE: NEIVELLE WADIA HALL SPEAKER: ADVOCATE SHREEKANTH MALEGAUKER He is a lawyer. He has his own law firm. He has dealt with lots of case’s related to corporate law and labour law. He is the visiting faculty for many colleges. He also gave a lecture on employment law at the London School of Economics. He 33

has completed his Masters degree in Law. He has also written a book called” few books on law” and has produced TV serials on law. The speaker told us that each and every stream has a bearing with labour law. It is important for management students to know about labour law. Management students must know the expectations of the people who are recruiting them for job. The people from companies who want to hire freshers expect the candidate to at least have the basic knowledge about management and labour law. It is important for management students to know the history pertaining to labour law in India. In 1600s the British entered India expecting to carry out trade with India. 1600 was the time when the East India Company set foot in India. The next significant date was 23rd June 1757 which was the Battle of Plassey. The Battle of Plassey was a decisive victory of the British East India Company over the Nawab of Bengal. The battle established the Company rule in Bengal which expanded over most of India. The year 1857 is a landmark year in Indian history. This was the year when the 1st law commission in India was made during the year 1860 by Lord Macaully. The law includes Indian Pinal Code sec 302, sec 354 and some more sections. He could envision what crimes would be committed in future. In 1864 another law was made. In 1872 Indian Contract Act was made. It was known as ‘SHOPKEEPERS ACT’. This law was critised a lot. The speaker told us that Indian Labour Law is the combination of Indian Contract Act along with securities. 1 st Association in India was Bombay Mill Hands Association. Narayan Lokhande was the pioneer of the labour movement in India. He ameliorated the working conditions of textile mill hands. He is known as the Father of Trade Union Movement in India. The 1991 was when the Ghandhian era began in India. This era changed the face of India. The people who went for World War2 learnt about the provisions given to other army people in other countries. They got to know that in other countries soldiers were given bonus, securities and other provisions. They came back and spread the world. In 1992 the 1 st national trade union organisation ie ALL INDIA TRADE UNION CONGRESS was established. The period of some eleven years from 1924 to 1935 is considered as the period of ‘LEFT WING TRADE UNIONISM’. The INDIAN TRADE UNION ACT which was ed in 1926 34

is a landmark in the history of trade union movement in India. In 1964 two major acts were made INDUSRIAL EMPLOYMENT STANDARD ORDER ACT and BOMBAY INDUSTRIAL RELATIONS ACT 38 misconducts were given. Co-operative banking is included in Bombay Industrial Relations Act. The speaker then told us that today India is 35 times richer than Pakistan. This is because after independence we focused on industrialisation, we focused on overall development of the economy. The Indian Discipline Act of 1947 is the backbone of industry. The definition of industry is given in 2J, sec 2M, of Factories Act, it states every factory may be industry but every factory may be industry but every industry is not a factory. There are few case studies which clearly state the use of the law. For example Bangalore Water Works case deals with Industrial law. There is another case ‘temple between the university of Delhi and Ramnath’. The speaker also said that however the law is lopsided. Between man and women the law favours women, similarly between landlord and tenant it s tenant, between manager and worker the worker is favoured. The law favours settlement of dispute. The government solves problems amicably. Example is the Bajaj Strike. The speaker then moved on to discuss strikes. The speaker told us that for the workers to go on strike they have to give advance notice. They cannot suddenly go on a strike. A strike or morcha requires police permission. Some types of strikes are rotation strike , sit down strike, sympathetic strike, lightening strike, etc. For a strike 14 days advance notice needs to be given. ‘strike is the last weapon in the armoury of labour’ “Lockout is the last weapon in the armoury of management’. The speaker gave us an example of strike which took place in Mumbai. The workers went on strike and the management tried everything to get them back. After some time the manager declared lockout. Lockout and strikes only cause loss. The speaker also gave an example of how movies can be misleading. The speaker once saw a movie in which he saw the lead actor tell the workers to go on strike all of a sudden. This is not ethical. Strikes do not take place in such a haphazard manner. The speaker then told us how managers are. He explained it with an example. 35

A understanding manager is always understanding. On day one his worker was 15 minutes late. He will forgive him. The next day he is 25 minutes late, the manager shows his watch but does not say anything. On the 3 rd day the worker is half an hour late the manager will only stare. On the 4 th day the worker is late, the worker will be ignored. On the 5th day when the worker is late the manager will treat him with sarcasm and then have a discussion with him. If even after that the worker is late then the worker will be discharged but with honourable letter of discharge. When the worker goes to another factor for work he will be appointed due to the discharge letter. But if the manager is strict on the 1 st day the worker is late he will shout at the worker. On the second day if the worker is late then he will be dismissed. Due to being dismissed the worker won’t get another job. CONCLUSION: Labour Laws are important and need to be known. Every student must know the laws as it gives him an edge over other candidates at interviews. A management student has to know the laws regarding harassment and Indian Contract Law and Factories Law. A management student must have the ability to deal with situations is better way and must avoid strikes or lockouts. A manager must be kind. If he is wicked the workers will suffer. In today’s world it is mandatory for the students and managers to know the basic laws and rules. Law is an integral part of management. The managers need to know all the Acts like Factories Act, etc. By knowing them they will be able to deal with trade unions problems in a better way. Today the world needs people who are well informed and find the middle way between unions and employees. There is a need of charismatic and innovative thinking people.

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VOLKSWAGON

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DATE: 5th January 2014 VENUE: Volkswagen Chakan, Pune Plant.

The Volkswagen Pune plant is in Chakan. It occupies a total area of 2.3 million sq.metres ie. 575 acres. Its buildings cover about 1,10,000 sq metres. It was built in 17 months with an investment commitment of INR 3800 crores by Volkswagen India Private Limited. It is the largest investment by a German company to date in the growing Indian market. We were greeted by the Head of Security, Mr. Prashant Kerker. He informed us about zero scratch cars produced by Volkswagen & gave us some few basic instructions. Then, Mr. Chaitanya Halve, the assistant manager met us. He told us that, “We in Volkswagen believe in quality”. He was our tour guide. He proceeded to inform about the production capacity of 1 lac per annum. After every two minutes one car is born in the plant. He told us about the two branches of Volkswagen in India; Pune branch and Aurangabad branch. The one in Aurangabad produces the esteem cars like Audi, Scoda etc. The Pune branch produces Vento and Brio. While only assembly takes place at Aurangabad, the entire car production takes place in Pune. We first saw the Body Shop. It has 1000 employees working in two shifts. The work is done by machines and manually. Manual labour is used to fix doors of the cars. The Puka robot makes the inner & outer parts of the doors. The robot hammar makes the edges of the door and seals them together. There are 96 robots in the Body Shop. High resolution cameras oversee the work done by the robots.

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Every car has 94 spots which need proper measurement & precision. The inline measurement process takes care of this. 70% the work in the Body Shop is done manually. Spot welding is done by robots & manually. More than 1000 spot welding is done. The plant specifically uses Diode Laser Brazing technology. Volkswagen cars face fewer problems like water leakage, reduction in rigidity, shabby appearance etc due to this technology and 100% durability, safety and prevention of water leakage is ensured. At Volkswagen they have few important points which they keep in mind. They are:   

Quality Precision Technology Safety of customers

The steel used in making the body of the car is imported. Two types of steel are used in making of the car body, red steel & grey steel. Red steel is used in very specific places which are prone for attacks & gives more safety as compared to grey steel. The space between two doors is measured ie. 3.5mm. Volkswagen provides robust, strong and rigid car bodies. In the last line of Body Shop no robots are used. All the work is done manually. In this part the polishing and finishing work is done. The special quality team checks the quality of the car body. The car next goes to the Paint Shop. In the Paint Shop, first the car is washed from both inside and outside. After washing the car ,it is then coated with white paint. 4-5 cats are given to the car. Finally the car is given its colour by spray paint. The paint used is of high quality. The car next goes through the Check Point Light Tunnel. Two different shades of light are used for the light test. One set of lights are used to observe the car in day light. The other set of lights are used for night observation. Scratches if any are visible clearly & action is taken.

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431 cars are made daily. 31 cars are born every hour. Both right handed & left handed cars are made at Chakan plant. The left handed cars are mostly exported to Dubai, Bangladesh etc. Next on the journey of completion of the car is the Assembly Line. It is 47sq meters wide. 4500 employees work directly or indirectly on the Assembly Line. There are different Assembly Lines. The 1st assembly line: Here the car bodies get a unique wind number depending on the type of the car. The car doors are removed for the protection of the car. The 2nd assembly line: This is the Sub cockpit production line. Cockpits weighing around 50 Kgs are placed in the car. The flooring in this part of the plant is wooden for the comfort of the workers. One man works for 115 seconds on a car. If there are any errors, the car body is pulled out of the line. Once the cockpit is fixed, the wiring and harnessing of the car takes place. The glass fittings are next. Here the station numbers are displayed on LCD screens. If any error occurs, the screen shows the exact car model which is facing the problem. The process is efficiently conducted. Volkswagen has a special programme for students known as , ’Dual Mecatronic Programme. The programme which is for 3 years has 16 students who also receive a stipend. Job offers from Volkswagen are generally given on completion of the course. Due to government rules & regulations, no women work in the Body Shop. A special internal logistics team, all parts are able. Next is the Chassis Line. Here the under bodies of the cars are prepared. After this process, the cars go through the Tire assembly. Here a machine moves the cars & workers fix the tires. It is a continuous process. There is a KUP workshop on the Finish line 1. The car seats are assembled here and the steering wheel is fixed. On the Finish line 2, the car gets its doors and air-bags. After the car is complete, it goes through multiple tests. Once the car es all the tests, it is declared fully complete and ready to be handed over to its owner. In Volkswagen, the process where the upper part of the car meets the lower part is called marriage. It is done with the help of a machine. 40

CONCLUSION: Volkswagen plant is one of the best & a leading producer of cars. Their cars are quality oriented. Volkswagen produces sturdy cars which do not get damaged easily. Due to its carefulness in the assembly line, there is no room for error. Volkswagen also takes care of its workers. Protective gear of every kind is given and safety lines are marked everywhere. Special wooden floors prevent injury. Canteen with hygienic food and sanitation is provided. Safety is their first priority. The plant is spacious and clean. Cars are produced with love here. Volkswagen also shows management of its resources. They conserve energy. They have a set target for 2018 to reduce their carbon emission.

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TAXATION

DATE: 8th February 2014 VENUE: NEVILLE WADIA SPEAKER: Mrs Priyanka

Mrs Priyanka is a CA. She got the 27 th rank in India for CA and the 8 th rank for BCOM. She has worked for Earls $ Young. She is a professional tax planner. She takes firm wide trainings as well as trainings for foreign students. She takes many seminars for students regarding tax. 42

Mrs Priyanka told us during the duration of her lecture she would focus on tax at corporate level. She started the lecture by asking the students what was the meaning for the word tax? She then said that the amount paid as tax should go to the right person. And the amount must be right ie it should not be more or less. As a manager one is posed to check these details. In a company when the top level has a problem they go to the managers who are asked to consult tax planners. As a manager you have to interpret the thoughts of the top level management and present it well to the consultants. As a manager you should be able to present the situation to both the parties well. For this the basis of tax should be known and as management students it is every important to know the study of tax. Mrs Priyanka covered 5 topics in the session. They were:     

Income Tax Scenario in India Authorities Important Concepts Residency and Scope of Taxable Income Basis of Salary Tax- Practical Issues

INCOME TAX SCENARIO IN INDIA- AN OVERVIEW A budget is presented by the Financial Minister by the end of the month of February every year. The Financial Minister talks about the economy in general, the current situation in the economy. He then talks about the direct and indirect taxes and proposes amendments. This then becomes a bill when ed in the Parliament. The rates of taxes keep changing every year as per the situation in the economy. There are certain rules of tax which the Act eg Perquisite computation, document filings, etc. The computation of tax takes place in the following way: 43

    

INCOME TAC ACT 1961 FINANCIAL ACT INCOME TAX RULES 1962-: CBDT Sec 295 CBDT Sec 119: Circulars, Notifications, Internal Institutions JUDICIAL PRECEDENTS In the structure of CBDT , charitable institutions where amount is deducted from tax are mentioned under Notifications. CBDT means Central Board of Direct Taxes.  Income Tax Authorities SUPEREME COURT

HIGH COURT

INCOME TAX APPELLATE TRIBUNAL

COMMISSSIONER OF INCOME TAX

ASSESSING OFFICERS: ADIT’S, DDTI, DCTI, ITO’s The Income Tax authorities are CBDT, DIRECTOR GENERAL and Commissioner of Income Tax. CBDT has power through Income Tax Rules to make polices. Example every year order above rupees 10 cores need to be assessed. This rule is given by the CBDT.

 IMPORTANT CONCEPTS ASSESSMENT YEAR & PREVIOUS YEAR: The year that computes the financial year ie 1st April to 31st March in which the income of the previous year is taxable is called assessment year. The current assessment year going on is 2014-15. The previous year 44

is 2013-14. The rates of 2014-15 are applied for the income earned in 2013-14 ie previous year. Pervious year is financial year. INCOME: Income is all the monetary benefits incurred from salary and other sources. Each of the sources should be specified. Each head of income needs to be looked into and determined correctly as each head has its own amendments. The income earned by a professor comes under the head income from salary. But when the professor sets an exam paper for the university then the money he gets comes under the head income from profession or other sources. Therefore the computation of income is important to categorise the income correctly. Example the income of parliament like Sachin Tendulker or Rekha is categorised as income from other sources. But if Rekha becomes a minister then her income comes under income from salary. Prescribed Rates for 2014-15 NET INCOME RANGE Up to Rs 2,50,000 Up to Rs 2,50,000-5,00,00 Up to Rs 5,00,000-10,00,000 Up to Rs 10,00,000- above

INCOME TAX RATES NIT 10% of total income minus 2,50,00 2,50,000+20% of total income5,00,000 Rs 125000+30% of total income minus 10,00,000

To be increased by education cess @ 3%

PERSON: Person is different assesses in India today. They include Individuals, Companies, HUD, Partnership, Local Authorities and any not listed above.

 RESIDENTIAL STATUS

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RN N IO EO O N SN R R D I-I D V R EE I N D S TIU A D L E N T OR means ordinary resident NOR means not ordinary resident NOR includes income:  Received in India  Accruing in India  Deemed to arise in India NON-RESIDENT includes income:  Received in India  Accruing in India  Deemed to arise in India DOUBLE TAXATION: Double taxation is when a person has to pay tax in 2 or more countries. Example if a person is outside India but his band s are in India and salary is from abroad. Income accrued and received in India is taxable. If he has shares in India then he has to pay tax in India for the interest and shares and abroad for the salary. All the countries have similar residential tests like India. If a person is taxable in India he may be taxable in some other country. In case of double taxation

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certain criteria’s are given. If a person fits into them then he is taxable only in one country. Mauritius is a tax heaven county where there is no tax.  BASIS OF SALARY TAXATION Ma’am told us that in an employer and employee relation there should supervision, control and direction. There are certain exemptions which a person gets in income from salary.

SALARY

ALLOWANCES

SALARY AND WAGES EDUCATION ALLOWANCE GRATUITY HOSTEL ALLOWANCE EMPLOYERS TRANSPORT CONTRIBUTION TO ALLOWANCE PROVIDENT FUND ENTERTAINMENT ALLOWANCE

PERQUITIES GIFTS WATER, ELECTRICITY CAR, DRIVER

REIMBURSMENT OF MEDICAL EXPENSES

CONCLUSION: We learnt how income tax is computed. There are many conditions for being declared a resident of India. And only when a person fulfils them he becomes either an ordinary resident or non-ordinary resident. The tax slabs are decided by the committee. And the rates fixed are always based on the current economic condition. To evade taxes companies open offices and operate from tax free countries like Mauritius, Switzerland , etc.

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GAS,

Hindustan Coco-cola

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DATE: 12th March 2014 VENUE: Pirangut

The plant is located at Pirangut, Pune. There are 450 employees working in 2 shifts. Their first plant was operational in India in 1996. There are three lines here.

 Pet Bottles  RGB line  Jar line.

Ms. Priyanka from the maintenance department was our tour guide. The tour started backwards. We were first taken to the shop floor where the packaging of the finished product like labelling takes place. The three lines in the plant do their distinct work. One line is for cans, the other for glass bottles and the pet bottles. There are conveyer belts. They prevent any contamination from taking place. Here the batch number from which plant it is manufactured etc are mentioned. No lubricant is used on the conveyer belts. Since no human hand touches anything, there is no contamination. The temperature required is 4 degrees centigrade. To raise it to room temperature, warmer is used. Here the bottles are sprayed with hot water to increase the temperature. Side Room Pet bottles get their form here. They originally look like a small test tube. This test tube enters the machine where it gets it bottle form. The temperature inside 50

is 85 – 90 degrees centigrade. The plastic easily melts and the inbuilt moulds give it the desired bottle shape. The entire process takes few seconds. It is a continuous process. The bottles are then inverted by the machine and a blower is used to get rid of all the dust and other unwanted matter. The bottles are then washed. For the wash, purified water is used to avoid micro-organisms and chemical contamination. The water is drained in two seconds. When the bottles are dry, they are filled. In one rotation, 45 bottles are filled. The caps are transferred aerially. Machines put the caps on bottles. They are next sealed and the filled bottles are made to go through a warmer. The bottles become dry & then the labels are put. While this process is going on, simultaneously boxes are made & opened by another machine. The labelled bottles then are grouped & aerially placed in open boxes by the machine. The boxes are then closed & sealed by gum which is food grade. The box then gets its details like batch number, flavour etc. For glass bottles, the plant collects the used bottles from vendors. When the bottles reach the plant, they are thoroughly washed. They are then filled by a default machine which rejects all the bottles that are not good. The machine is called SCBI machine. It has a dirt sensor which helps to locate a dirty bottle. The machine can also identify which bottle is for which drink. If a different drink bottle is in line, the machine rejects it. The clean glass bottles are filled in a glass room. 72 bottles are filled in a single rotation. The machine is set in a way to avoid errors. The rejected bottles are separated but by any chance if the bottle reappears, the machine stops automatically & resumes working only when the wrong bottle is manually removed. There are two check points to oversee the work. There is a separate room for quality testing of the drink. The ingredients used are specific & have a perfect ratio. If the ratio is not maintained, the drink will lose its taste. The ratio is 1ml water: 2ml syrup. The plant produces the drinks according to the orders received from the market. There are 24 bottles in one case. As per the requirement, the batch is made. 1 unit = 1000-----Therefore 42 units = 42000---Water is heated to 85 deg centigrade. Sugar is next added. Next, carbon high flow is added in ratio. There are two lots which are there. They go through filters1 & 2 in two tanks. All the debris from the solution is filtered. The temperature of the syrup is 85 deg centigrade. After filtration the syrup is 51

declared pure. The pure syrup is then cooled to 22 deg centigrade. The PAE is sensitive to temperature. After it is cooled, flavour is added to it in the tanks along with water. It is then mixed in different small machines. The drink is then transferred through pipes and Carbon di-oxide is added to it. There are CIP machines ie cleaning place. There are 3 filters. The temperature is 85 deg centigrade. Contamination if any is recognised. CIP takes 1 ½ to 2 hours. Each tank in the plant has its own flavour. There is a network of pipes so that water can be added without contamination. For the flavour, there is a separate flavour room. Each flavour has its own temperature. The life of the flavour is one year. The water in the drinks is from 3 rivers and 1 well. The water goes through a clarification process. The water is stored and processed. There is a time of 1 ½ hours to kill all the micro organisms. Then it goes through PSF, ACF, Lead ACF, Lag ACF and micro filters. In this the tank is filled with water and granular carbon. Then the filtration process begins. This then leads to micro filters. There are 3 micro filters. Next is the UV filters UVA & UVB. After the process of clarification the 2 nd process is UV process filters. Jar Bottles The plant gets the used jars from the vendors. The Jars go through a machine called a slipper where the damaged jars are removed. Then the jars deemed to be fit are cleaned manually. They next go through a detergent wash. Here the washed jars are washed again, 7 at a time. They are washed with their neck down and bottoms up. Here hot water, cold water and detergent wash are done, one at a time. In one minute 3 jars are washed. After this thorough washing the bottles are labelled, given batch names etc. Then the drink is filled and the jar is sealed. Coca cola gets all their raw material from suppliers. The raw material is analysed. They perform few tests like light testing in light testing machine to check the raw material minutely. All the raw material like jars, bottles, ingredients go through a quality check before they are used. If the material is lower or higher than required quality, it is rejected. Coca cola is quality conscious. Every executive at every line, after a time gap of half an hour checks one bottle. Bricks and carbon dioxide are also checked. 52

Bricks are glucose concentrated. The flavour in the drinks is also bought from specified vendors. For machines which are installed in Mc Donalds etc the department sends officials to check quality. Water is not wasted and goes through treatment to retain its purity.

CONCLUSION . A visit to Coca-cola was a great experience thanks to our college authorities for providing us such a great opportunity to explore and gain more knowledge .It was an amazing experience as to see how soft drinks are manufactured, packaged and distributed. We saw that the company is very well organised in its management and istrative aspects Finally to conclude coca-cola is well know for its quality and powerful drink.. the working staff was also cooperative they guided us well.in all it was a great experience

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GIT’s

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DATE: 19th February 2014 VENUE: Gits , Hadapsar, Pune GITS is a food processing industry. Food processing comes under the secondary sector. In secondary sector food is processed and packed. It started in 1956. It produces 25 tonnes per day. Gits exports its goods to USA ,UK, Australia and Gulf. Gits produces 35 products in all out of which 10 are sweets. The workers work in one shift which starts from 9 and ends at 5 in the evening. Gits exports its goods to 35 countries. Their major manufacturing product is GULABJAMUN. The products are made to order. GIT only produces goods as per the order received. Their major retailers are malls and vendors. Gits has an outlet in Pune. People at Gits are very particular about hygiene. They give all the workers and visitors shower caps to wear. No one is allowed to wear foot wear inside the factory. Being a food processing factory they do know want any contamination to occur.

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Mr Shailesh from the quality department was our guide. He told us that they produce 2 categories of food packets. First are the ready to cook mixes. These contain dry blends of the powers of food. The customers are required only to add warm milk or water and cook it for 10 minutes. These ready to eat mixes are very easy to prepare. Gits gets its own raw material from specific suppliers. The raw material goes through quality check. After checking the raw material goes through grinding process. In this process the material is grinded and made into a powder. After grinding the raw materials are then blend in together. There are 3 types of packaging. 1 ST is primary packaging which involves roll packaging. 2nd type of packaging is done in cartons. And theirs is shipped. For roll packaging there is a FFS machine. The roll is moved and filled then sealed. FFS means form, fill and seal. At Gits the basic raw material used is rice, dal, etc. They are all powered then seeped then loaded on trolleys then dried. They are dried so that they lose their moisture content. The moisture content is 8 to 12% in the packed FFS machines. Gits follows the FOOD SAFETY AND STANDARD ACT. Hence they are very conscious of the quality. The raw materials like rice and dal is checked both manually as well as with a machine. There is a special machine for it. After the sorting is done then the grains go through grinding. Here they are powdered. There is a special machine for grinding. After grinding the raw material is then dried. Then it is put in a blender. Here all the materials blend properly. All the ingredients are mixed perfectly. The spices blender is called the mixing station. After blending process complete the mixture is then put in packets with the help of machines. This work is not done manually. The machine is set and accordingly fills the packets. 35 packets are filled per minute. The packets are of 100 grams or 200 grams or 50 grams. After they r put in the packet they r then manually put into boxes. This is called secondary packing. After the packer is placed in the box , the box is then sealed by machines. The machine is called jet package. The box gets its details engraved on it. After it is sealed it is then put in

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cartons and dispatched. There 60 boxes per carton. Gits exports 50% of its boxes and only 50% are used for India. The MRP is not printed on the box. MRP is fixed by the seller. There are around 400 employees working there and 90% of them are females. CONCLUSION: At Gits they are conscious about quality as they export the goods. That is why they have ph test for their goods. They have 2 labs one in online quality testing and other is for micro bio content checking. They put soda instead of yeast in their products to make their products light. They take 3 hours to reduce the moisture content. They are the biggest food processing industry in India. As they are a world famous brand they need to maintain their standards through quality check. Ready to eat meals are not very famous in India but are very famous abroad.

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LE MERIDIAN

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DATE: 21st March 2014. VENUE: LE MEREDIAN , PUNE SPEAKERS: Praveen Mane - Assistant HR manager has been for 8 years in hotel. Nitin Jadhav - HR security manager who is working for 15 years. Chef Nadir Shaikh- Working for

The students were taken to the training centre where Mr. Praveen introduced them to the staff working there. He told us the hierarchy – HR, EXECUTIVEHOUSEKEEPING, ENHINEER, FRONT DESK. There are about 1413 hotels and 318 new hotels coming up soon. There are about 100 hotels in India itself. There are 9 branches of Starwood. They include:        

WESTIN- 236 hotels SHERATON- 509 hotels FOUR POINTS by SHERATON- 232 hotels Le MERIDIEN- 113 hotels THE LUXURY COLLECTION- 96 hotels ALOFT- 105 hotels W HOTELS- 166 hotels St. REGISIS- 45 hotels

Starwood has 4 dimensions ,North America,Asia Pacific,Latin America and East America. The Le Meridian,Pune falls in Asia Pacific and its headquarters is in Singapore. Starwood has 3,22,700 rooms all over the world. The Le meridian ,Pune is equipped with 177 rooms, 8 suite Rooms , six banquet halls and 1 Disco named ‘Scream’. 59

The main values at Le Meridien, Pune is CHIC, CULTURE and DISCOVER Then we were shown a video of Le Meridian. Starwood is one of the shareholders of Le Meridian. Le meridian by 2050 wants to convert its Pune hotel into Sheraton. They also want to build a new hotel in Mahabaleshwar as there are no new hotels there. It is to be built on 39Acres Land. Then Head Chef Nadir Shaikh spoke about cost maintenance .He said that cost needs to be controlled , maintained but not cut down. The kitchen Department is divided into 3 sections.: Kitchen , Storage And Service . For this department ther is cost of fuel, electricity , manpower , water ,etc which needs to be maintained. Everything that occurs here is related to the number of guests visiting the hotel. Then the speaker gave us an example comparing Le meridian and KFC. The price of a chicken dish is different in KFC and the hotel. This is because in a hotel the service is provided to the customer, from the min night he enters the hotel till he leaves. Whereas in KFC the customer only pays for the dish he orders. Mr Mr. Ahmed told us what Food Audit is. Food Auit is basically related to food and beverages. It consists of the hygiene maintained around food, how food is cooked, the conditions in which food is cooked example the temperature. All frozen goods need to be stored at 18*c while ice creams and other frozen goods are stores at 5*c or below. Food auditing takes place for all the hotels chains. The Le Meredian Pune had their food audit on 10th January 2014. Hotels get their raw materials from local vendors. The food is cooked at a specific temperature. For this purpose a thermometer is used. There are two temperature calculating techniques: o Holding temperature for a buffet is 60*c o Colding temperature is 5*c and below. But sometimes improper food management does take place. It can take place due to food not being properly cooked, improper raw material or bacteria.

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To prevent such problems Food and Hygiene Department are there in every hotel of Le Meredian. In a hotel the wastage percentage is between 10%-15%. The banquet in a hotel should be maintained in the same manner till the last person walks out. Everything needs to be maintained accordingly including the temperature of the food. Le meridian gives discount to its customers in the form HAPPY HOURS in the evening , Late Night hours, etc. In Pune there are three starwood hotels. They are : Westin , Le Meridian and Four Points by Sheraton. CONCLUSION: Le Meridian is one of the Luxury Hotels In Pune. Their main aim is to please their customers. They have been able to reduce their Wastage and have maintained their Standard. By 2015, they will achieve their target of converting Le Meridian into Sheraton. The HILTON CANNAUGHT is coming soon in Pune.

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CONCLUSION Industrial Exposure is important for students. It provides the students with knowledge and information. Though Industrial Exposure one gets to know what’s happening in the economy of the county. One gets to know what the GDP is , which sector contributes the most to GDT. One also gets methods or ways to improve the GDP. Students get to know the latest trends going on in the market. Industrial Exposure provides information about each sector of the economy in detail. It shows how that particular sector works. It improves the skills, knowledge and brings about innovation. Industrial Exposure is a boon for management students. Students get an idea of the sectors and how they work. This helps students to understand which career to select. Students benefit from this. They are able to work better and with better understanding.

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BIBLIOGRAPHY  www.wikipedia.com  www.google.com  Timesofindia.com

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