A Project Report On
ACADEMIC YEAR 2006 – 2007
SUBMITTED TO SAURASHTRA UNIVERSITY
PREPARED BY MAKASANA SANJAY V. INSTITUTE OM V.V.I.M.COLLEGE OF MORBI
GUIDED BY Prof. K.G.Taunk Prof.Mital Shah
DECLARATION I undersign Mr. makasana sanjay v. a student of F.Y.B.B.A. studing in om vvim college college of morbi, morbi, Declar Declaree that the project project work done done in this report is prepared by by me under fully supervision of prof. mital shah and has not been previously submitted to any university for any examination.
Date:
Place: _______________ [Sign of Student]
DECLARATION I undersign Mr. makasana sanjay v. a student of F.Y.B.B.A. studing in om vvim college college of morbi, morbi, Declar Declaree that the project project work done done in this report is prepared by by me under fully supervision of prof. mital shah and has not been previously submitted to any university for any examination.
Date:
Place: _______________ [Sign of Student]
PREFACE In today’s modern business world is placed on a very complex and intrica intricate te politic political al and econom economic ic enviro environme nment. nt. The new techno technologi logies es are adopted and have influenced by environmental factor. The opportunity and challenges provided by these environment have profound import on the business type of product to be manufactured and marketed. Business may also be considered as one of the essential function of the society carried on primarly on the society.
To know about more as a student of F.Y.B.B.A. conducted industrial visit of BALAJI WAFERS. From his visit much knowledge of practical studies is gained more than theoretical studies.
Thus, I take this project as an opportunity to make better future this project report is the result of co-operation of company. By guide, and my hard effort. So in respect of my practical training, I am presenting this report.
ACKNOWLEDGEMENT I am thankful to saurashtra university to include such type of practical subject in our study.
An attempt was made by me regarding this subject to Know more. This project have given me better understanding about the subject.
I am also thankful to the company BALAJI WAFERS for giving me ample assistance to make this project great success.
____________________ ___________________ _ Signature of Student
INDEX (1)
General Informati ation
(2)
The Co Company
(3)
Brief History
(4)
Production Dep Department
(5)
Personnel De Department
(6)
Marketing De Department
(7)
Finance Dep Department
(8)
Res Research & De Development
(9)
Strategy
(10) (10) Futu Future re Plan Planss & Goal Goal (11) Sugg Sugges esttion (12) Conc Concllusi usion
Name of the Company: “BALAJI WAFERS PVT. LTD.”
Address: Balaji Wafers Pvt. Ltd., Vajdi (Vad), Kalawad Road, Taluka: - Lodhika, District: - Rajkot – 360 003. Gujarat (India)
Form of Business: Private Limited Company
Head Office: Balaji Wafers Pvt. Ltd., Vajdi (Vad), Kalawad Road, Taluka: - Lodhika, District: - Rajkot – 360 003. Gujarat (India)
Chairman: Bikhubhai Virani
Banker: Co-operation Bank
Auditor: D. K. Patel & Company
Establishment Year: 1982
Phone No.: 91-281-2783755-56-89-90-91-92
Fax: +91- 281 – 2783747
URL: www.BalajiWafers.com
E-mail:
[email protected]
Total Area Covered: 85,000 Sq. M.
The Company The makers of ‘Balaji Group’ brand wafers and namkeen food products has deep faith in God & in good taste. Converting dreams into reality it leads them to the biggest potato wafers plant of India. The Balaji plant covres over 85,000 sq. m. area in the outskirts of Rajkot city. Its big taste revenue i.e. turnover touched to the crore rupees milestone. Balaji Group has 90% shares of wafers market and 70% shares of namkeen market in Gujarat. You are invited to travel the past, present and the future of Balaji group.
Brief History The journey of Balaji Group in year 1976 by the member of Virani family. For supplying wafers and namkeens of local brands to the patrons of Astron Cinema, Rajkot. Due to the short supply of that product they decided to make their own product line in year 1982. By the overwhelming retail success they inspired to set a semi automatic plant. Instead of preparing wafers by the traditional frying method this semi automatic plant boosted the quality, taste and more sales also. The fame of taste reached to the whole Gujarat hence it was time to takeover the whole Gujarat so the biggest automatic plant of Gujarat came into the picture. Quenching the demand of Gujarat, Maharashtra and Rajasthan region Balaji group is now looking forward to march over India.
Production Department PRODUCTS: (1)
Potato Wafer
(2)
Masal Potato Wafer
(3)
Banana Wafer
(4)
Masala Banana Wafer
(5)
Farali Chevdo
(6)
Alu Sev
(7)
Ratlami Sev
(8)
Chana Dal
(9)
Mung Dal
(10) Vatana (11) Sing Bhujiya (12) Tikha Mitha Mix (13) Masala Sing (14) Sadi Sing (15) Chataka Pataka (16) Masala Sing (17) Tomato Masti
Objectives of Production Department The Nature of production issues & ways to improve effectiveness &
efficiency.
Managerial planning & control for nature of production & operation.
Managerial techniques is required for planning & control.
Techniques for improving productivity.
Probable future Development is operations planning & control.
Manufacturing Process: “Manufacturing process means step by step conversion of one form of material into another through chemical or mechanical process.”
Raw Materials:
Choicest Potatoes
Edible Oil
Chilly Powder
Iodized Salt
Sugar
Choicest Banana
Pipper Powder
Peanuts Splits
Choicest Gram Splits
Choicest Peas
Black Gram Blown
Math Bean Flour
Starch
Mint Oil
Rich Flakes
Corn Flakes
Green Gram
Curry Leaves
Sesams
Coriander
Black Peppets
Currim Seeds
Ajovan
Roasted Gram Splits
Amchur Powder
Turmeric Powder
Black Salt
Rich Meal
Production Process:
Raw Material
Washed of Potato
Packing
Boiling of Potato
Masala Mixing
Slices of Potato
Production Lay Out: Company follows line production layout.
Inventory: There is no question arise for inventory because it’s a good industry so all the production will be the brush so there is no need for inventory arrangement.
Waste Mgt. System: There is no specific waste Mgt. System. Water used in Balaji Wafers Pvt. Ltd. is lean & pure.
Technology: Company manufactures their product through high & imported technology.
Quality Control: Quality
is related
concept
related
to certain predetermined
characteristics with such asshaps, dimensions, composition, strength, workmanship, finish, color, time, weight etc. According to Alott and Beauty quality control is the mechanism by which products are made to upto the specifications determined from the customers demands & transformed into sales, engineering and manufacturing requirements. It is concerned with making things right rather than discovering and rejecting those made wrong. Quality control is a technique by means of which products of uniform. Acceptable quality are manufactured. In order words is the systematic process and which subsequently affect the excellence of the finished product.
As like other department Balaji Wafers Pvt. Ltd. has also quality control as Balaji Wafers is good and their product are fresh.
Capacity of Production: Capacity of production of Balaji Wafers Pvt. Ltd. is 4500 Kg. Potato and make 1200 Kg. of chips per hour.
Quality Standard: -
ISO
Quality Testing: Balaji Wafer Pvt. Ltd. test their quality is laboratory.
Personnel Department Introduction “Personnel administration is a method of developing the potentialities of employees. So that they get maximum satisfaction out of their work & give their best efforts to the organization.
Personnel management is that part of general manager which is primarily concern with human constituents of an organization or from the national point of view the knowledge, skill creative abilities talent, & aptitude obtained in the population whereas from the view point of the individual enterprise they represents the total of the inherent abilities acquired knowledge & skill as accomplices in the talent and attitude of employees.
The
work
of the personnel
department
is concerned
with
procurement, development compensation integration & maintenance of personnel with an object of continuing forward organization. Major goals, this is effectively describes the process of planning & directing human resource in an organization.
Because of this importance, Balaji Wafers Pvt. Ltd. company has also its own separate personnel department, the workers are fully satisfied in every aspect. The relation between the top management and workers are very good. The problems of workers are given importance and are solved in the best possible manner. Thus this type of atmosphere in the organization has ultimately created feeling in the employees to be loyal & efficient in their work.
Thus, the most valuable assets of company is human being is well managed by the personnel department. Personnel department is managed by personnel department manager of the company of personnel department is Mr. Raghuvirsinh Parmar.
Organization of Personnel Department: The internal or structure of the personnel department varies widely in different companies, depending upon that size for example, in small companies, personnel function are discharged by time executives. But in the large company, where personnel activities are generally as complex nature a separate department is organized for the purpose which is called personnel department as in Balaji Wafers Pvt. Ltd. Company.
Recruitment, Selection and Induction Recruitment: Recruitment is the process of searching for prospective employee and stimulating them to apply for the job, in the organization.
According to above definition recruitment is a prospecting job where organizations make such for prospective employees. In practice however prospective employees to seek out organization just as organization seek out them. Therefore, the job of recruitment is based on the musing ready where success of both parties is dependent on timing. The three factors should be considered as the time of recruitment is as under:
The source of recruitment can be divided as follows: (1)
Internal Source
(2)
External Source
Internal Source: Internal Source means source are sought from within the organization. An employee working in the organization is asked if there friends relatives etc. wish to work in the organization. Sometimes but at different location. It is also called internal source.
External Source: -
External source include recruitment and human resource agencies, newspaper advertisements, campus interviews etc.
Balaji Wafers Pvt. Ltd. is using following sources of recruitment.
(1)
Internal Recruitment.
(2)
External Recruitment.
Selection: “ candidates are screened by the application of his test qualified applicants go on to the next hurdle, while the unqualified are eliminated.”
Selection as the name implies involves speaking for hire a subset of workers from the total set of workers who have applied for the job. Selection is done comparing the requirements of the job with the applicants qualification an attempt is made to find a round page for a round word. In doing so naturally many application are rejected. This makes selection a negative “function”.
The selection produces the works best on foundation provided by the job analysis and requirement. The selection procedure is basically a series of personnel studies. It attempt to discover qualification and characteristics of the job application at each step we learn more about the prospective employee.
Due to above described important Balaji Wafers Pvt. Ltd. company adopts following steps for selection of right person on the job.
(1)
Application Form.
(2)
Reference Checking.
(3)
Final Selection.
(4)
Placement.
Application Form: An application form is a traditional widely accept device for getting information for a prospective applicant which will be able for manager to make a proper selection. The form provides preliminary information as well as aid in the interview by indicating areas of interest and discussion. Here candidates has to write some information like biographical letter, educational achievements, work experience, expected salary, hobbies, reference etc. if an information given by candidate is right then company will select them for next stage.
There is different procedure for application for in different organization. But basic process remains the same as above.
Interview: An inter view is a face to face observation and personnel appraisal method of evaluation the applicant where the interview is higher & status is in a dominant role. Two interviews – preliminary and final. Generally occur during the selection process. Where as large number of candidates are asking for application form. A preliminary interview becomes necessary. Its purpose is not to make a detailed probe of qualification but application form to those who can’t be employed because some genuine reason.
Other forms of interview are patterned interview and unpatented interview.
Patterned Interview: Patterned interview is the interview in which questions to be asked to candidates are pre decided. Interviewer prepares a question bank to ask to the candidate.
Un-patterned Interview: Un-patterned interview is the interview in which questions to be asked to candidate are not pre decided. The interview asks the candidates question on the spot. It depends on the interviewes and interviewer, which kind of & how to ask un-patterned question.
Reference Checking: -
The use of reference checking is common in most selection as it involves little time and money and minimum of efforts. The procedure places reliance on the evaluation of former employers friends and professional persons checks on references are made by mail or by telephone & occasionally in person or by using a reference form.
Final Selection: If a candidate successfully passes, then he is finally selected for a vacancies which occurs into the organization. This is the last stage for selection procedure.
Placement: Placement may be considered as the determination of the job to which and accepted candidate is to consigned. It is the task to match people with the position. It creates an interest for candidate to use this abilities.
Induction: Induction is a technique by which new employees rehabilitated in to the change. The surroundings & introduction to the parties, policies and purpose of the organization.
In other words, it is well coming process. The idea is to well a new comer, make him fill as home & generate in him a felling that his on job, however small his meaningful as significances as pass of the total organization.
Training and Development Training: -
“Training is short term process utilizing a systematic and organized procedure by which known managerial personnel who born technical knowledge and skill for a definite purpose.”
“Give a man a fish, he will eat it. train a man to fish, he will feed his family.” This is a same which highlights the importance of training a man. Employee training is the process where by people born the skill, knowledge, attitude and behaviour needed in order to perform their job effectively. No big industrial organization can long binger. The training & development needs of its employees without seriously arrihilating its performance. Even, the most careful section does not eliminate the need for training.
There are different kinds of training following are the type of training.
(1)
On the job training.
(2)
Classroom Training.
(3)
Role Playing.
(4)
Training by ment or etc.
Balaji Wafers Pvt. Ltd. also gives training to their workers in on the job bases. It training work is good, then company gives service to these employees.
Development: “Development is long term education process utilizing a systematic organized of procedure by which managerial personnel, learn conceptual & theoretical knowledge for general purpose.
Development activities are used inter change ably. They are that part of the enterprise, function, which aim at full development of managers at whatever level they are development is a systematic process of maintaining and growth by which managerial personnel gain and apply skill knowledge attitude and insights to manage the work in that organization effectively and efficiently.
Following are main objectives.
(1)
To increase job knowledge.
(2)
For decision making ability.
(3)
Attitude change.
(4)
Performance change.
Job Description: Job Description is the written record of the duties, responsibilities and requires of a particular job. It is statement escaping job in term of its title location duties working conditions, and hazards. So the job description means providing guidelines and information to the candidate about their job for which they are selected.
In following manner a proper job description can be collected. (1)
Observation of employees at work.
(2)
A study of special maintenances duties.
(3)
Reviews of critical incidences.
(4)
Discuss with departmental head and outside experts in the business.
The job description can be adopted for a middle level as well as executive personnel at managerial level.
The contents of job description remain same in the most organization.
The following are most contents of job description.
(1)
Name of the job.
(2)
Duties and Responsibilities.
(3)
Relation with other managerial staff.
(4)
Job summary.
(5)
Position and status in organization.
(6)
Working conditions.
(7)
Machine tool and equipment.
Promotion and Transfer Policy Promotion: Thus the job description provides knowledge what, where and how perform the job. Some type of job description is also present in Balaji Wafers Pvt. Ltd. company the head of the department, the clerks, and workers must be intelligent to know and learn. The work and also must be well experienced in their particular field.
“Promotion is the transfer of an employee to a job which pays more money or one that carries some proffered status.”
Promotion is a term which covers a change and calls for letter responsibility and usually involves higher pay and better terms and condition of service and therefore, a higher status or rank. Thus promotion us an upward advancement of an employee in an organization to another job.
Different company has different task for promotion. But as far as Balaji Wafer Pvt. Ltd. company is concerned the base used by the company’s performance along with experience then it is always a risk to give him promotion because he hasn’t gone through all the things occurred with higher post.
Transfer: “A literal shift causing moment of individuals from one position to another without involving any marked change in duties, responsibilities, skill needed by compensation.”
Transfer is a horizontal or retrial moment of an employee from one job, section, department, shift, plan or position to another as the same or another place where salary, status and responsibilities are same. There are several reasons for transfer like unsatisfactory performance, rude behaviour etc.
Here in the company Balaji Wafer Pvt. Ltd. person can transferred from one sight to another shift without hanging the salary authority and responsibility.
Performance Appraisal System Despaired the multiplicity and compare nature of many training and educational programmers, most development up slow and let effective if the employee is not systematically appraised and feed back information is not concerning.
In Balaji Wafers Pvt. Ltd. company performance apprised is done by the management to find out how effective it has been in selecting and placing employees. If any problems are identified steps are taken to communicate with employees and try to remedy them.
Wages and Salary Administration “Wages and salary administration refers to the establishment and implementation of sound policies and practices of employee compensation”.
Wage is the remuneration on paid for the service of labors in production process, where as salary normally refers monthly rate paid to clerical employees.
Balaji Wafer Pvt. Ltd. gives wages as well as salaries to their workers or management on performance bases. There is no fixed wages or salaries. Company pays wages and salaries after deduction of provident fund, leaves etc.
Employees Benefits and Services: Employees, at Balaji Wafers Pvt. Ltd. are given best working condition and atmosphere to work. They are given additional benefits as per the performance of individual.
Grievance Handling Procedure The definition of grievance varies company to company and author to author. The broadest interpretation of the term would include any discount and dissatisfaction that affects organization performance. As such it can be either stated or unvoiced, return or oral, legitimates or ridiculous.
The grievance handling procedure is usually through or in connection with the company that with a labor union. If unable, the company and the made union to investigate and discuss the problem as issued in any way interpreting peaceful and orderly conduct of business.
In this company, the relation between the employees and employers are very satisfactory. Therefore, there are no disposes. If there is any problem, the worker talk with supervisor and if he will not be able to solve the problem, then workers is allowed to go to the top management.
Personal Records: Personal record is an important tool to collect the information about the present employee. It is also useful to decide whether the employee should be considered for promotion or not. Personnel department of Balaji Wafers Pvt. Ltd. has maintained such record system.
Following details regarding an employee are maintained as record: (1)
Name
(2)
Age
(3)
Date of Birth
(4)
Sex
(5)
Qualification
(6)
Experience
(7)
Working Department
(8)
Date of joining
(9)
Blood Group
(10)
Nationality
(11)
Local address and contact no.
(12)
Permanent address
(13)
Designation and salary of the time of joining
Working Hours and Shifts: There is only one shift, it is 8 to 5. and if there is any need of extra shift then they arrange extra shift.
Employees Working: In Balaji Wafer Pvt. Ltd., fully automatic plant is there. Still the no. of workers is 2500. Among 2500 workers are employed by Balaji Wafer Pvt. Ltd., 90% of are female workers and 10% are male workers.
Marketing Department Marketing Department: Marketing
management
is
for
creating
customers
by
persuading them through advertising and personal salesmanship that the company’s products or services match their indicated needs and preferences more closely then competitors, offerings, by developing products and services through technical and market research which appear to offer profitable sales opportunities and at a price, time and place the customers want.
Balaji Wafers Pvt. Ltd. has a separate marketing department. In Balaji Wafers Pvt. Ltd., Marketing department is managed by marketing manager Vallabhbhai. Marketing of Balaji Wafers Pvt. Ltd. is done by Katariya Enterprise.
Distribution Channel: The distribution of gods is the most important activity in the process of marketing. We can define the distribution channel as the set of marketing institutions participating in the marketing activities in the movement or the flow of goods or services from the primary procedure to the ultimate consumer.
Generally the distribution channel follows as under:-
MANUFACTURER
DISTRIBUTORS (kataria)
WHOLESALERS
SEMI WHOLE SALERS
RETAILERS
CONSUMERS
Distribution Channel for Balaji Wafers Pvt. Ltd. Distribution
Channel
for
Maharashtra
Rajasthan: -
COMPANY
C&F
SUPER STOCKIST
DEALER
RETAILER
CONSUMER
and
Organization of Marketing Department:
CHAIRMAN
MANAGING DIRECTORS
DIRECTORS
GENERAL MANAGER
MARKETING MANAGER
A. S.
S. R.
Transportations and Arrangement: Transportation arrangement should be sufficient for food industry because food is non-durable product. If there is no sufficient transportation arrangement for distribution of goods then goods (product) will be useless and parish because of non-durable nature of the product.
Balaji Wafers Pvt. Ltd. has 30 trucks for transportations for supply of goods. Balaji group has ideal distribution channel network that ensure to supply fresh product to any corner to Gujarat within 24 hours.
Global Marketing: The company has also global marketing in Dubai and other countries. The main global market is Dubai for this company. Demand and Supply in other countries are indirect.
Competitors: There is no any competitor in local market, but in the global or national market there are competitors for the company like, Lay’s, Samrat Namkeen, etc.
Advertisements: “Advertising is any paid form of non-personal presentation and promotion of communication to target buyers and publics.” - philip Kotler
Advertising is the most common tool, companies use to direct ideas, goods and services to the target buyers and publics. Organizations handle their advertising in different ways. In small companies, advertising is handled by someone in the sales or marketing department engaged with advertising agency. In large company, they have their own advertising agency through which they deliver their ideas to the public.
In developing an advertising program marketing manager must always start by identifying the target market and buyer motives. Then they can proceed to make the given major decision to develop advertise which are known as the 5 Ms.
(1)
Money
(2)
Mission
(3)
Message
(4)
Media
(5)
Measurement
Thus advertisement is a useful component to attract the prospective buyers. The high tensile fasteners with the brand name “Balaji” does not needed any type of advertisement because of its popularity and monopoly in local area enjoyed by the Balaji Wafers Pvt. Ltd.
Advertisement Budget: There is no fixed advertisement budget for the advertising in the company. So, that budget is on task based. That is on requirement of the advertising.
Advertising Agency: Company’s ads are given from the in-house and no ad agency is appointed for the brand.
Market Research: Market research is a branch of marketing information system. Market means actual and potential customers. Market research is the systematic and intelligent investigation or study of the “who, what, where, when, why and how of actual and potential buyers.”
It deal with research on customer demand e.g. behavior and attitudes marketplace, analysis of sales data, analysis of market show of a firm, etc. Market research is primarily concerned with investigation, analysis and measurement of market demand.
Market research is continuously done by the Balaji. The major decision regarding to market is taken by the chairman of the company.
Finance Department Finance Department: “Finance function does not cover only procurement of funds but also effective utilities in the business.” -
Haward and Upton
It is universally accepted thing that behind old economic activities, the purpose is earning. So, by considering this, we can say that “money or finance” is in the center of the business world.
The finance in the modern business world is the life blood of business. It is impossible to imagine business without finance. It is said that “business man takes money to take money”. But it is so how the business man makes money. The answer is quite simple i.e. by managing the money means by the extra ordinary management of finance. In short money is the master key to provide access to the variable resources and man power for being employed in manufacturing and merchandise activities.
The Balaji Wafers Pvt. Ltd. Company works very well in the field of finance. It has a good finance department. The head of finance department is Mr. Sureshbhai Shakhiya. According to him, the company at present is financial sound.
Financial Planning: “Financial Planning pertains only to the function of finance and includes the determination of the firms, financial objectives, formulating and promulgating financial policies and development financial procedures.” -
Walker and Baughn.
Planning is very necessary for the smooth running business. A business can not be carried out with successfully without proper planning. Planning means to decide in advance, the activities to be done for the achievement of organizations over the objectives. Finance management being a part of the over all management also needs planning.
Financial planning refers to the estimation of the requirements of the fund and the sources available to a firm. A sound planning is necessary for a firm so that the funs required can be made available as and when necessary in order to formulate the financial planning. The financial manager has to take various things in mind such as past records, the present position of the company, the competition etc.
The financial planning can be classified into two ways: (1)
Long term financial planning.
(2)
Short term financial planning.
Capital Structure: “Capital Structure is the permanent financing of the firm, represented by long term debt, preferred stock and net worth.” -
Weston and Brigham
To build up the capital structure of a company is a very important problem as regarded as the earning and profitability of the concern. Capital structure of a company refers to the make up of its capitalization. A company procures funds by issuing various types of securities i.e. ordinary shares, preference shares, bonds and debentures. Before issuing any of those securities, a company should decide about the kinds of securities to the issued. In what proportion will the various kinds of securities be issued, should also be considered. However, in broad scene, capital structure includes are the long term capital resources including loans, bonds, shares, issues, reserves etc. are the components of the total capital.
Management of Fixed Assets: Fixed assets are the assets of a relatively permanent nature used in the operation of business. In other words, we can say that an item owned by the company having financial minatory value is known assets. The assets which are used for long period called long term fixed assets. Where as short term assets include debtors, stock, cash and bank balance etc.
The decision of the purchasing fixed assets should be taken very carefully by the management. If we can manage our fixed assets very well manager, then ultimately it will result into the benefit to the company. The company has maintained proper record showing face particular, including quantities details situation of fixed assets to us, are the assets having being physically verified by management at reasonable, intervals during the year. Discrepancy noticed on such verification as compared to books record has being properly dealt with in the books of account. None of the fixed assets revalued during this year.
Capital Budgeting: “The objective of the capital budgeting is to rank various investment opportunities according to the prospective earnings they will yield.” -
Hayners and Massie
The most important aspect of capital budgeting process is identifications,
evaluation,
authorization
and
control.
The
identification refers to the identity of the project. Identification of investment ideas is the most critical aspects of this process once the investment ideas are well identified they should be evaluated and the correct real should be evaluated the most beneficial project. The authority may be delegated subject to adequate control and accountability. A company has a sound capital budgeting for the purpose of selecting the most advantageous project to make the sound decision regarding investments.
In this unit the capital budgeting is done by the chairman and directors in a co-ordinate way. The Balaji Wafers Pvt. Ltd. has accurate fund in a much planned way.
Management of Working Capital: “Current assets, by definition, are assets normally converted into cash within one year. Working capital management usually concerned to involve the administration of this assets namely cash and marketable securities, receivables and inventories.” -
James C. Von Horne
There are two types of assets in each concern i.e. fixed assets and the current assets. Both types of assets should be managed carefully so as to maximize the profit with minimum investment of funds working capital management is concerned with problems that arise with attempting to manage to current assets, current liabilities and the inter relationship between them. If operational goal is to manage the current assets and current liabilities in such a way that a satisfactory level of working capital is maintained. It is a continuous process which involves control of everyday cash and flow of financial resources circulating in the enterprise in one form on other. The working capital refers to the Net Working Capital (N.W.C.) i.e. current assets and current liabilities. The net working capital represents that part of current assets which are financed with long term funds such as cash, marketable securities, debtors and stock and current liabilities etc.
The management of working capital is divided in to three arts: (1)
Management of inventories.
(2)
Management of receivables.
(3)
Management of Cash.
Research and Development By synergizing human mind, their likes and sometimes their beliefs helps a lot. Under the strict laboratory tests each & every batch of raw material passes and then goes for further processing. As goers of Multiplexes, clubs demands some zing flavors it is always in considerations and planning of new flavors to rock them with their taste. Recently company launched two new products & got high sales volume. So stay tune in with the zing taste and pure quality.
Strategy This simple mantra rocked and changed the definition of a chip world. Winning the heart by quality and great taste and distributing sufficient dealer margin is a winning strategy of Balaji group. Its ‘Value for money’ strategy enables even a kid to buy fresh & healthy food in small prices. Indeed in a neck to neck competition era one must implement new ideas and balaji group has developed the think tank who continuously update strategy in the right direction. Think win-win & Stay ahead with us.
Future Plans & Goals Balaji Group perceive in growth rather say development to touch the sky. The company will enhance its product range by adding some futuristic and Indian traditional taste company will plan to some extruded snacks and western products to their Global market. Recently company has acquired more space where its entire namkeen unit will be shifted. The future will see more of Bhikubhai Virani as a Chairman, Mr. Chandubhai as a Managing Director, Mr. Kanubhai Virani as a Technical Director & Mr. Keyur Virani as a R & D director. At Balaji progress is a life line.
Suggestion Balaji wafers is a very good company manufacturing wafers. And there is no chance for suggesting them. But in present era there is one thing that I would like to suggest.
I would like to suggest that they should advertise more and television, and should put their product to the international market. So that the company can progress more and more.
