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International Law : Crime against humanity

2017-07-21T07:00:00.000+05:30

What is crime against humanity and law? Is it dealt under the international criminal court? How is UN security council responsible?

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Marketing : overall Business philosophy

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How will you consider Marketing as an overall business Philosophy?

MIS come handy

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As a business man, how does MIS come handy to you for providing information at various stages of decision making in today's world of ever increasing complexities of business management. Also mention the use of computer in MIS (Take any business as an example).

........the challenge remains is; how to get all the data together to create accurate, reliable, fast information about our business. A company that can take advantage of reliable information and turn it into shared knowledge, accurately and quickly, will surely be better positioned to make successful business decisions and rise above the competition. MIS refers broadly to a computer-based system that provides managers with the tools for organizing, evaluating and efficiently running their departments. In order to provide past, present and prediction information, an MIS can include software that helps in decision making, data resources such as databases, the hardware resources of a system, decision support systems, people management and project management applications, and any computerized processes that enable the department to run efficiently..... click here to get full and new version of answer

THE PERSPECTIVE OF MANAGEMENT TO BE AN EFFECTIVE STRATEGIC MANAGER IN AN INDUSTRY

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WHICH ARE THE ASPECTS YOU WILL KEEP IN MIND ABOUT THE PERSPECTIVE OF MANAGEMENT TO BE AN EFFECTIVE STRATEGIC MANAGER IN AN INDUSTRY ?

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FOLLOWING ARE THE VITAL ASPECTS WHICH I WILL KEEP IN MIND ABOUT THE PERSPECTIVE OF MANAGEMENT TO BE AN EFFECTIVE STRATEGIC MANAGER IN AN INDUSTRY

1 . Planning:

Managers are responsible for the efficient Use of organizational resources including People, plant , equipment and supplies .The effective use of such resources Requires managers to devise communicate implement and monitor Plans to achieve organizational aims and objectives.

Following should be kept in mind :

A.Developing plans

Prioritising and organizing work activities in line with organizational aims and objectives.

B.Monitoring performance

Monitoring and reviewing performance against organizational aims and objectives.

C.Focusing on results

Maintaining a focus on achieving organizational aims and objectives

D.Managing change

Planning for and implementing change to achieve organizational aims and objectives

E.Managing improvement

Taking action to improve performance by acting on the lessons from past successes and failures

2. Communication :

The principles and processes of effective communication underpin the role of the manager. Managers need to be able to communicate effectively with a range of people, including team members, colleagues, line managers, customers and suppliers. It is important that managers are able to organise, present and communicate their views, ideas and plans according to the needs of the people with whom they interact.

Following should be kept in mind :

A.Explaining clearly

Presenting ideas, plans and problems in ways that promote understanding .

B.Influencing others

Presenting views and opinions clearly and positively to others, resulting in agreement and consensus .

C.Resolving conflict

Understanding the problems and concerns of others and working towards an appropriate resolution.

D.Listening

Seeking and listening to the views and opinions of others.

3. Team-working :

Managers achieve organisational aims and objectives through the work of other people and in particular teams. Setting up and managing effective teams requires managers to inspire and motivate team members, ensuring that everyone understands what the team is trying to achieve.

Following should be kept in mind :

A.Building teams

Involving team members in planning and organising their work to meet team objectives

B.Leading teams

Providing teams with a clear understanding of their purpose and objectives

C.Encouraging team-working

Minimising conflict and problems to enable the team to perform

D.Representing teams

Presenting a positive image of the team.

4. Leadership :

Managers are leaders of people and need to inspire commitment and enthusiasm in others in order to achieve organisational aims and objectives. To be effective, managers need to build strong working relationships which means providing clear guidance and direction, acting as a role model and respecting the views and opinions of others.

Following should be kept in mind :

A. Leading by example

Acting as a role model for others

B. Providing guidance

Providing support and advice to others in order to enable the achievement of organisational aims and objectives

C. Motivating others

Enthusing, and gaining the commitment of others to decisions and plans.

D. Building trust and respect

Maintaining confidences and honouring commitments and promises made to others.

E. Leadership style

Using different leadership styles according to the needs of people and situations.

F. Communication

Ensuring people are aware of and fully understand plans and decisions .

G. Resolving conflict

Understanding the problems and concerns of others and working towards an appropriate resolution.

5.Personal effectiveness:

Personal effectiveness enables to achieve results and meeting personal and organisational objectives. Managers are literally faced with hundreds of decisions to make every day: choices about how to prioritise activities, how to allocate their time and how to communicate and present their plans and opinions to others. An important part of improving personal effectiveness is recognising and addressing personal development needs.

Following should be kept in mind :

A. Acting assertively

Presenting views and opinions clearly and taking responsibility for initiating action

B. Managing time

Maximising the use of time to achieve aims and objectives

C. Developing self

Improving personal performance and skills by recognizing weaknesses and areas for improvement

D. Decision-making

Obtaining and analysing accurate information in order to make effective decisions.

6. Managing people:

Managing and developing people is perhaps the hardest part of management. Managers must be able to agree clear, measurable objectives, manage the performance of both individuals and teams and provide regular and constructive feedback on their performance. Managers must provide timely and appropriate support for people, ensuring that they possess the right knowledge and skills to achieve their objectives.

Following should be kept in mind :

A. Setting objectives

Negotiating individual and team objectives which are challenging and achievable

B. Managing performance

Reviewing individual and team performance to ensure that objectives are achieved

C. Developing others

Helping others to improve their knowledge and skills in order to achieve their objectives

D. Providing feedback

Giving individuals and teams constructive feedback designed to improve performance.

7. Managing Change:

Managers are increasingly required to not only manage, but to initiate organisational change. Managers need to be able to gain people’s commitment to change, plan and implement change and to monitor the impact of change in relation to the organisation’s aims and objectives.

Following should be kept in mind :

A. Leading change

Identifying the need for change to achieve organizational aims and objectives

B.Planning change

Preparing plans to implement change programmes

C.Implementing change

Putting into practice a strategy and plans to achieve change

D.Monitoring change

Reviewing progress against change plans

8.Managing projects:

All managers manage projects whether they are large or small, short-term or long-term. Project management involves developing and agreeing a project plan and monitoring and controlling the implementation of and changes to the project plan to achieve the project’s Outcomes.

Following should be kept in mind :

A.Project planning

Determining the scope of the project and its outcomes and the required resources and critical time lines

B.Project implementation

Managing the resources to achieve the project’s outcomes on time and on budget

C.Managing project progress

Monitoring project progress and adjusting the project plan as required to achieve project outcomes .

D.Managing project closure

Confirming satisfactory project completion and identifying the lessons that can be learned for the future

9. Service Performance:

Managers need to deliver service levels as set out in their organisation’s plans and strategy. Effective planning and performance management combined with a strategy of continuous improvement enables managers and organisations to consistently satisfy and exceed the needs of customers both external and internal.

Following should be kept in mind :

A. Developing plans

Prioritising and organising work activities in line with organisational aims and objectives

B.Monitoring performance

Monitoring and reviewing performance against organisational aims and objectives

C. Managing performance

Reviewing individual and team performance to ensure that objectives are achieved

D.Managing improvement

Taking action to improve performance by acting on the lessons from past successes

10.Developing people:

Managers deliver organisational aims and objectives through the achievements of the people they manage. To be effective, people need to have clear objectives and a sense of direction and the knowledge, skills and confidence to perform. The role of the manager in developing people is more important now than at any time in the past; managers need to be developers of people.

Following should be kept in mind :

A.Setting objectives

Negotiating individual and team objectives which are challenging and achievable

B.Managing learning

Creating a supportive learning environment where people can develop new skills and confidence

C.Performance coaching

Building confidence levels, knowledge and skills through one-to-one coaching

D.Providing feedback

Giving individuals and teams constructive feedback designed to improve performance

11.Customer Focus:

Managers need to be customer focused in order to deliver the level of service and performance that is required of their organisation and team. Customer service requires an understanding of the needs of both internal and external customers, taking action to meet customer needs and implementing strategies to improve customer service levels.

Following should be kept in mind :

A. Understanding customer needs

Identifying the needs of both internal and external customers .

B.Meeting customer needs

Addressing customers needs by taking action.

C. Resolving customer issues

Taking responsibility for investigating and resolving customer issues

D. Improving customer service

Identifying and implementing strategies to improve customer service

ABOVE GIVEN ASPECTS I WILL KEEP IN MIND ABOUT THE PERSPECTIVE OF MANAGEMENT TO BE AN EFFECTIVE STRATEGIC MANAGER IN AN INDUSTRY.

Which are the basic information you should have if you are to be an effective international trade manager in an exporting firm?

2017-07-21T06:57:00.000+05:30

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FOLLOWING BASIC INFORMATION YOU SHOULD HAVE TO BE AN EFFECTIVE INTERNATIONAL TRADE MANAGER IN AN EXPORTING FIRM ::

1. Regulations

Exporters can be sole proprietors, partnerships or companies. The regulations, permits or licences which affect exports apply to the goods or services exported not to the individual or organisation exporting them. There are no restrictions on who or what type of business may export from INDIA but the goods or services exported must comply with existing export regulations.

In an export context the over-riding regulation is that all consignments leaving INDIA, must be declared to the Indian Customs Service to check any duty needs to be paid. The declaration to Customs can be made by exporters or by their appointed freight forwarder .

It is advisable to contact the Indian Customs Service or an international freight forwarder to ascertain if any export regulations apply to your specific product or service before proceeding further with your export plans.

Registration

• Registration with Reserve Bank Of India: No longer required.

• Registration with Regional Licensing: Authorities (obtaining IEC Code Number) The Customs Authorities will not allow you to import or export goods into or from India unless you hold a valid IEC number.

In order to enable you to obtain benefits/concession under the export-import policy, you are required to register yourself with an appropriate export promotion agency by obtaining registration-cum- membership certificate.

Registration With Sales Tax Authorities

Goods which are to be shipped out of the country for export are eligible for exemption from both Sales Tax and Central Sales Tax. For this purpose, you should get yourself registered with the Sales Tax Authority of your state after following the procedure prescribed under the Sales Tax Act applicable to your State.

Excise Procedure

All excisable goods exported out of India are exempt from payment of Central Excise Duties, for which two different procedures have been approved

Rebate of Duty on Goods Export Procedure

Under the first procedure, known as 'Rebate of duty on Goods Export. The manufacturer has first to pay the excise duty on goods meant for export and then claim refund of the same after exportation of such goods to countries except Nepal and Bhutan.

Export under Bond Procedure

Under the second procedure known as "Exports Under Bond" goods can be exported out of India except to Nepal or Bhutan without prior payment of duty subject to the execution of the Bond with security / security for a sum equivalent to the duty chargeable on the goods to be exported.

2. Market Research

Extensive research is necessary in order to assess the potential market for a given product or service in a defined region. It may be conducted by employees of a business or by an external consultant appointed by the business. The ultimate aim of the market research program should be to provide comprehensive, accurate information on which to base a successful export marketing strategy.

Export market research can be divided into two phases, desk research and overseas research.

Phase 1 — Desk Research

This is the process of gathering information from sources within India. There are many such sources able to provide a wealth of information.

These include:

• banks

• bilateral, social and business organisations

• chambers of commerce

• consulates/embassies

• Department of Foreign Affairs and Trade

• export consultants

• international freight forwarders

• international business and telephone directories

• the Internet

• Universities or other tertiary institutions.

Phase 2 — Overseas Research

This is the process of gathering information in the market itself. A first hand evaluation of the sales potential for the product or service in the overseas market is essential. This may involve discussions with potential buyers, agents, distributors, joint venture partners and government authorities, attendance at trade fairs and exhibitions, product testing in the market place, customer surveys, etc.

This phase of the research programme should only be commenced after every aspect of Phase 1 has been exhausted.

Ultimately the information gathered must result in the production of a practical export marketing strategy, which is capable of implementation by the company for which it was designed.

Preliminary Export Research Program

A typical research program should seek to ascertain:

• preferred target market

• economic overview of the target market

• demographic overview of the target market

• cultural and religious environment

• basic import regulations

• tariffs, taxes and quotas

• transport infrastructure

• distribution networks

• potential customers within the target market

• entrenched competition

• pricing policy

• preferred trading terms

• packaging and presentation.

This list is by no means exhaustive but these are the prime factors you should be aware of before venturing into an export market.

3. Terminology

Every field of endeavour has its own vocabulary and export is no exception. It is important to know the terms used in international trade, not only in order to understand exactly the offer which is being made or accepted, but also in order to present a fully professional approach to your potential trading partners.

The most important part of the export vocabulary is the set of terms universally known as Incoterms.

Trading Terms (Incoterms)

The most commonly used rules for the interpretation of trading terms in international trade are those defined by the International Chamber of Commerce (ICC). They are internationally recognised and are known as Incoterms. Incoterms signify to the buyer what is, and more importantly what is not, included in the selling price. They also indicate where the exporter's responsibility ends and the importer’s responsibility begins in respect of the goods exported.

Which term will apply to a particular export transaction is a matter for negotiation between buyer and seller. However, inclusion of the appropriate term in export quotations is crucial in order to determine the responsibilities of both parties in the contract of sale.

4. Export Prices, Offers and Contracts

Export Prices

Calculation of export prices is usually based on the differential costing method. This method treats exports as additional business; incremental to the main core of domestic trading. Exports therefore bear a reduced contribution to the manufacturer's fixed costs.

Export prices may also be affected by duty drawback. Where an export product contains imported material or components on which duty has been paid, the amount of duty paid can be claimed back from Indian Customs Service when the product is ultimately exported. The export price will reflect this reduction in cost.

These are matters of accountancy and should be discussed in detail with your accountant.

Additional costs such as bank charges, cost of Forward Exchange Cover, etc., may also have to be taken into account before arriving at a firm export price.

• A cautionary word: it is unwise to set an artificially low price when trying to enter an export market because it is usually very difficult to raise this to a realistic level at a later date. It is preferable to enter the market at a realistic level with an undertaking to hold prices firm for a fixed period of time, say 90 or 120 days after the date of the quotation.

Ultimately export pricing will be determined having regard to two fundamental points; the price the exporter needs to cover all costs and make a reasonable margin of profit, and what price the market is prepared to pay. There is little point in sacrificing profit if the market is willing to pay a higher price.

Export Offers :

To correctly evaluate an export offer, an importer requires the following basic information :

Description of the Goods

A detailed description of the goods is necessary to avoid misunderstanding between exporter and importer and so that the importer can correctly classify the goods for Customs purposes.

Price

Exporters should always specify the currency in which the price is quoted.

Trading Term

The price should always be accompanied by the appropriate trading term indicating which elements of the transport and insurance costs are included in the quoted price.

Delivery Schedule

Delivery schedules should set out the quantity which can be made available for shipment within a specified period eg "3,000 units within 2/3 weeks of receipt of firm order and 2,000 every week thereafter". It is preferable that delivery schedules be slightly conservative; much better to deliver ahead of time than after the promised date.

Packing Specification

Sets out how the goods will be packed, the number of units per carton or pallet and the weight and dimensions of the packages. This will enable the importer to determine how the goods will be warehoused upon arrival and to ascertain the cost of transporting the consignment if this is not included this in the quoted price.

Payment terms

It is important to state your preferred payment terms for two reasons:

• so that there will be no misunderstanding as to how the importer is to make payment; and

• because some methods of payment will involve the importer in significant additional expense and this must be taken into account when costing imports.

The most commonly used payment terms are:

Prepayment - Absolutely secure from the exporter's point of view. Payment is received prior to dispatch of the goods.

Documentary Letter of Credit - Almost completely secure for the exporter. A Letter of Credit (more correctly called a Documentary Credit) is an arrangement whereby a bank, operating on the instructions of an importer, authorises another bank to pay a fixed sum to an exporter on production of specified documents. The rules governing the use of Letters of Credit are contained in Uniform Customs and Practice for Documentary Credits (ICC No. 400) available from most Banks.

Bills of Exchange/Cash Against Documents - From an exporter’s point of view not as secure as Prepayment or Letter of Credit.

Bills of Exchange are accompanied by shipping documents are usually referred to as documentary collections.

Open Account - No security of payment. Payment is made by the importer after the goods have been despatched by the exporter.

A number of excellent publications are available from the major banks, which give a detailed explanation of the various methods of payment used in international trade.

Validity

Indicates the period during which the export offer will remain unchanged.

Warranty

A certification as to quality.

Other

Provision of samples for testing etc.

Export Contacts come into being by a process of offer and acceptance. When an offer has been accepted by the buyer, the contract exists and is legally binding on both buyer and seller. It is difficult to withdraw or amend an incorrect offer after it has been accepted. Accurate pricing and careful preparation of the export offer is, therefore, essential given that this represents a formal offer of goods for sale.

5. Insurance

In an export context insurance can be said to fall into two types:

Insurance against loss or damage

Consignments with anything over minimal value should be insured against loss or damage during transit. Who has responsibility for effecting insurance is totally dependent upon the terms of the contract of sale negotiated between exporter and importer. In a FOB or CFR contract this responsibility lies with the importer, in a CIF contract with the exporter .

The extent of cover, whether it is from wharf to wharf or warehouse to warehouse, will vary from contract to contract.

It is customary in most types of international trade to insure goods for CIF value plus 10% in order to recover all costs associated with the shipment including the cost of the premium paid to the insurance company.

Insurance against default of buyer

If the payment terms negotiated with an overseas buyer are less than secure, it is possible to insure against the risk of non payment through private insurers.

The risks covered by this type of insurance include:

• default by the buyer

• buyer’s refusal to accept delivery

• buyer insolvency

• inability to deliver due to unforseen circumstances

• war, hostilities or civil disturbances

• government intervention.

Exporters should also be aware that if their product has the propensity to cause damage or personal injury, it is advisable to explore the possibility of taking out product liability insurance to cover this risk. This is particularly advisable when considering export to markets where litigation is common.

6. Freight

Freight is the name usually given to cargo which is to be transported from one designated point to another, but the term is also used to denote the cost of transport. In view of this, exporters should make absolutely clear what is meant by use of the term "Freight".

Freight Rates (air and sea) - While it is almost always true that kilo for kilo sea freight will be less expensive than airfreight, it is also true that the minimum freight payable for dispatch by sea is usually much higher than the minimum payable for dispatch by air. This means that it is often less expensive to dispatch small consignments by air than by sea.

Conference Rates - Ship owners operating vessels on a particular run - say India to West Coast USA - form a cartel to fix freight rates and sailing schedules. This cartel is called a Shipping Conference and is one of the few forms of price fixing cartel, which is deemed to be legal . This is because it ensures stability of freight rates which enables exporters to prepare export quotations in the knowledge that the freight rate will not change without adequate warning. It also rationalises sailing schedules thus ensuring that sailings to a particular destination will be at regular intervals. It follows that all shipping lines that are members of the Conference will offer identical freight rates for the carriage of cargo.

It should be noted that the conference system does not operate in respect of airlines so rates for airfreight can differ. It is advisable to obtain several quotes for airfreight consignments in order to take advantage of the best available rate.

Weight Measurement Ratio - The total amount of freight payable for the transport of cargo is usually calculated by applying the quoted freight rate to the weight or measurement of the cargo, whichever offers the greater return to the shipping company or airline.

Hazardous cargo - Freight rates will always vary depending upon the type of cargo to be carried. If the cargo is deemed to be of a hazardous nature, eg. volatile, noxious, injurious to health, likely to contaminate other cargo, etc., then special rates will apply and the carrier may require special packing to prevent damage. Check with your freight forwarder as to the standards or regulatory requirements which may affect the transport of your cargo.

Because of the above it is recommended that exporters seek the services of a reputable international freight forwarder when considering selling into overseas markets.

International Freight Forwarders

The services usually offered by international freight forwarders are:

Booking space

Forwarders will make the necessary bookings with shipping companies or airlines to ensure that the cargo is transported in the correct manner with the minimum amount of delay.

Freight savings

Most forwarders make regular "block bookings" of space on ships and aircraft. They are thus able to consolidate the cargo from a number of individual exporters and, in some circumstances, pass on the savings achieved to their clients in the form of reduced freight rates.

Costing

They are able to assist exporters in calculating the cost involved in exporting goods to a particular destination. They can also advise on the most economical means of transport, ie. air versus sea or a combination of both. They can also advise if savings can be achieved by deferring dispatch, for example, until the next consolidated consignment leaves.

Cargo monitoring

Forwarders are able to monitor the movement and location of particular cargo from the time it leaves the exporter’s premises to the time it arrives at the importer's premises.

Documentation

It is essential that export documents be absolutely free of error if international transactions are to be trouble free. Forwarders are able to produce documents which comply with exporter's instructions, letters of credit and the regulatory requirements in the importer’s country. Where speed is essential in the transmission of documents, forwarders are able to fax or email copies to importers or their agents thus ensuring faster customs clearance and delivery. This in turn reduces the risk of incurring storage charges at the port of destination.

Storage

Most forwarders have the facility to store outgoing and incoming cargo and this facility usually extends to Bond Storage. They are also able to arrange inspection by the Indian Customs Service or other agencies if this cannot be conveniently accomplished at the exporter’s premises.

Market information

Because of their strong overseas connections, forwarders are often able to provide their clients with information about market conditions, export and import requirements, duty rates, etc. The amount of duty paid in the importer's country will depend upon how the product is classified in terms of the customs tariff. Your freight forwarder can advise on ways to achieve the best tariff classification in order to legitimately minimise customs duty.

When using the services of a Forwarder your instructions should be clear and concise. Most forwarders have their own forms on which to provide instruction.

When seeking information from Forwarders about freight rates, it is essential to provide accurate and adequate details with regard to the nature of the cargo, its destination and packing specification.

It is also important that you obtain from the Forwarder written confirmation of the rates quoted and the range of services offered in order to avoid confusion and misunderstanding in the future.

7. Export Marketing

There are many ways in which a product or service can be marketed to buyers overseas. These fall into two main categories, direct and indirect marketing.

The main distinction between direct and indirect export marketing lies in the contractual relationship between the parties concerned. By direct exports we mean those transactions where the manufacturer or exporter has a direct contractual relationship with the importer overseas. Indirect exports are those arranged by contractual relationship with an intermediary, usually in the country of export. An important test in determining if the transaction is direct or indirect is whether the exporter will be paid from a local (indirect export) or an overseas (direct export) source.

In the main export marketing options are:

Direct export to an importer

Where the exporter identifies a buyer overseas and negotiates a contract for the sale of goods or services.

Direct export using a commission agent

Similar to the above but using a commission agent in the overseas market to solicit orders and provide after sales service. This can either be a one step or multiple step distribution process.

Indirect export through local merchants

Sales are negotiated with a trader in the manufacturer's country, with payment being made in local currency from the trader’s office. For example a great deal of trade between India and Japan is done through the Indian offices of Japanese companies. There are many such trading companies ranging from the very large Japanese trading houses to small single operators. Most traders will specialise in a specific product type and/or geographic area.

Manufacture under licence

The Indian company sells technical know-how to an established manufacturer overseas who is licensed to produce the product or service in that country.

Joint Venture

The Indian company enters into an arrangement with a company overseas to set up a third business entity, the joint venture company, which will be responsible for production and/or distribution of the product or service in the overseas market place.

Wholly owned company in the export market

The Indian company establishes a branch or subsidiary in the overseas territory.

8. Exclusive Agreements

It is customary for agents, distributors to require some form of exclusive right in the product or the territory in which the product is to be sold. The agreements which convey these exclusive rights should be negotiated with great care because once made they can be difficult to revoke and it is vital that you appoint the best possible people to represent your product in the market place. . Such agreements will vary considerably depending upon the market, the nature of the product and many other factors.

Clauses which are common to all such agreements are:

Nature of agreement

Is the agreement an exclusive distributorship, licence arrangement or agency agreement?

Territory

This clause defines the territory covered by the agreement.

Period

This clause defines the period over which the agreement will run and also any review options; for example - agreement to run for 5 years with a review after 1 year.

Remuneration

In an agency agreement this clause defines how commission will be calculated and how and when it will be paid.

Exceptions

In an exclusive distributorship or agency agreement this clause details any exceptional circumstances when the exporter may deal directly with importers in the market.

Warranties and repairs

This clause details the warranties, which the supplier offers to the distributor and which the distributor may in turn offer to the end user. It also details the after sales service available in the market place.

Promotional expenditure

This clause defines who will pay for advertising and sales promotional material including samples. It should also define the limit of expenditure, which can be incurred by the agent without authorisation from the principal.

Dispute resolution

This clause determines which legal or arbitration system will apply in the case of a dispute that cannot be resolved by the parties to the agreement themselves.

Performance level

Defines the minimum level of sales to be achieved in a given period. If this level is not achieved the agreement may be reviewed.

Rights

Defines the parties’ rights to use brand names, trade marks etc.

Having determined the type of agreement required and the principal points to be covered, it is essential that you consult a legal firm with experience in the area of international agreements. They will ensure that the final agreement reflects the wishes of both parties thus avoiding potentially disruptive and costly disputes.

9. Export Finance

The amount of finance required to enter overseas markets will vary from business to business and depend largely upon the export strategy which individual companies adopt. However, it is true that in all circumstances, export will require additional financial resources.

In an export context additional financial resources may be required for the following:

Pre-shipment Finance

Finance required for the purchase of product, raw materials or components prior to manufacture and export of the goods.

Post-shipment Finance

Finance required to continue operations in the period between dispatch of the goods and receipt of payment.

Working Capital

To facilitate the day to day operation of the firm, ie. overheads, wages, maintenance of plant and equipment etc. In an export context this may also involve documentation charges, entertainment for overseas visitors, market research, overseas visits, translations etc.

Applying for Finance

Banks and other lending institutions will usually provide their own forms on which to apply for finance. Naturally these will vary from bank to bank. However, most loan applications will require the following details:

• the amount of money required

• the purpose for which it is required

• preferred repayment terms

• security offered

• cash flow projections

• details of existing debt

• financial details of the business

• trading history

• stock valuation

• experience/qualifications of the proprietors

• management structure

• short term objectives

• long term objectives

• market research findings

• other relevant considerations, such as contracts, intellectual property, etc.

• lending institutions will probably also require a copy of your export strategy

10. Documentation

Export documents form a very important aspect of international trade. It is usually true to say that without the correct documents the exporter may not be paid and the importer may not be able to take possession of the consignment. An understanding of the most commonly used documents in international trade is essential for successful export operation.

The most important export documents are:

Letter of Credit

A Letter of Credit (more properly called a documentary credit) is an advice issued by the importer’s bank authorising payment of a specified sum of money by a correspondent bank to a named beneficiary upon delivery by the beneficiary of specified documents. The internationally accepted rules for the use of Letters of Credit are contained in "Uniform Customs and Practice for Documentary Credits” (commonly called UCP). Most Banks provide a booklet which contains these rules.

Bill of Lading

This is probably the most important document in international trade. It performs two completely separate functions. It defines the contract between the exporter and the ship owners to carry the goods from one named port to another. It is also the document of title to the goods and as such is fully negotiable. Legitimate transfer of the Bill of Lading effectively transfers ownership of the goods from one party to another.

Air Waybill

In the case of dispatch by air performs roughly the same function as a Bill of Lading with one notable exception. An Air waybill is not fully negotiable, so passage of the cargo to an importer is not dependent upon production of the original Air waybill. Cargo will be delivered to the importer immediately it arrives at the airport in the importer’s country.

Certificate of Origin

May be required for some destinations.

Bill of Exchange

In effect a Bill of Exchange is a demand for payment which the exporter prepares and presents to the importer. The importer will pay at sight or, if it is a term Bill, on the date it matures.

Certificates of Insurance

In a CIF contract, insurance is effected by the seller who will usually be required to provide to the importer a certificate to this effect.

THESE ARE THE BASIC INFORMATION , YOU SHOULD HAVE TO BE AN EFFECTIVE INTERNATIONAL TRADE MANAGER IN AN EXPORTING FIRM.

THE PERSPECTIVE OF MANAGEMENT TO BE AN EFFECTIVE STRATEGIC MANAGER IN AN INDUSTRY

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WHICH ARE THE ASPECTS YOU WILL KEEP IN MIND ABOUT THE PERSPECTIVE OF MANAGEMENT TO BE AN EFFECTIVE STRATEGIC MANAGER IN AN INDUSTRY ?

FOLLOWING ARE THE VITAL ASPECTS WHICH I WILL KEEP IN MIND ABOUT THE PERSPECTIVE OF MANAGEMENT TO BE AN EFFECTIVE STRATEGIC MANAGER IN AN INDUSTRY

1 . Planning:

Following should be kept in mind :

A.Developing plans

Prioritising and organizing work activities in line with organizational aims and objectives.

B.Monitoring performance

Monitoring and reviewing performance against organizational aims and objectives.

C.Focusing on results

Maintaining a focus on achieving organizational aims and objectives

D.Managing change

Planning for and implementing change to achieve organizational aims and objectives

E.Managing improvement

Taking action to improve performance by acting on the lessons from past successes and failures

2. Communication :

Following should be kept in mind :

A.Explaining clearly

Presenting ideas, plans and problems in ways that promote understanding .

B.Influencing others

Presenting views and opinions clearly and positively to others, resulting in agreement and consensus .

C.Resolving conflict

Understanding the problems and concerns of others and working towards an appropriate resolution.

D.Listening

Seeking and listening to the views and opinions of others.

3. Team-working :

Following should be kept in mind :

A.Building teams

Involving team members in planning and organising their work to meet team objectives

B.Leading teams

Providing teams with a clear understanding of their purpose and objectives

C.Encouraging team-working

Minimising conflict and problems to enable the team to perform

D.Representing teams

Presenting a positive image of the team.

4. Leadership :

Following should be kept in mind :

A. Leading by example

Acting as a role model for others

B. Providing guidance

Providing support and advice to others in order to enable the achievement of organisational aims and objectives

C. Motivating others

Enthusing, and gaining the commitment of others to decisions and plans.

D. Building trust and respect

Maintaining confidences and honouring commitments and promises made to others.

E. Leadership style

Using different leadership styles according to the needs of people and situations.

F. Communication

Ensuring people are aware of and fully understand plans and decisions .

G. Resolving conflict

Understanding the problems and concerns of others and working towards an appropriate resolution.

5.Personal effectiveness:

Following should be kept in mind :

A. Acting assertively

Presenting views and opinions clearly and taking responsibility for initiating action

B. Managing time

Maximising the use of time to achieve aims and objectives

C. Developing self

Improving personal performance and skills by recognizing weaknesses and areas for improvement

D. Decision-making

Obtaining and analysing accurate information in order to make effective decisions.

6. Managing people:

Following should be kept in mind :

A. Setting objectives

Negotiating individual and team objectives which are challenging and achievable

B. Managing performance

Reviewing individual and team performance to ensure that objectives are achieved

C. Developing others

Helping others to improve their knowledge and skills in order to achieve their objectives

D. Providing feedback

Giving individuals and teams constructive feedback designed to improve performance.

7. Managing Change:

Following should be kept in mind :

A. Leading change

Identifying the need for change to achieve organizational aims and objectives

B.Planning change

Preparing plans to implement change programmes

C.Implementing change

Putting into practice a strategy and plans to achieve change

D.Monitoring change

Reviewing progress against change plans

8.Managing projects:

Following should be kept in mind :

A.Project planning

Determining the scope of the project and its outcomes and the required resources and critical time lines

B.Project implementation

Managing the resources to achieve the project’s outcomes on time and on budget

C.Managing project progress

Monitoring project progress and adjusting the project plan as required to achieve project outcomes .

D.Managing project closure

Confirming satisfactory project completion and identifying the lessons that can be learned for the future

9. Service Performance:

Following should be kept in mind :

A. Developing plans

Prioritising and organising work activities in line with organisational aims and objectives

B.Monitoring performance

Monitoring and reviewing performance against organisational aims and objectives

C. Managing performance

Reviewing individual and team performance to ensure that objectives are achieved

D.Managing improvement

Taking action to improve performance by acting on the lessons from past successes

10.Developing people:

Following should be kept in mind :

A.Setting objectives

Negotiating individual and team objectives which are challenging and achievable

B.Managing learning

Creating a supportive learning environment where people can develop new skills and confidence

C.Performance coaching

Building confidence levels, knowledge and skills through one-to-one coaching

D.Providing feedback

Giving individuals and teams constructive feedback designed to improve performance

11.Customer Focus:

Following should be kept in mind :

A. Understanding customer needs

Identifying the needs of both internal and external customers .

B.Meeting customer needs

Addressing customers needs by taking action.

C. Resolving customer issues

Taking responsibility for investigating and resolving customer issues

D. Improving customer service

Identifying and implementing strategies to improve customer service

ABOVE GIVEN ASPECTS I WILL KEEP IN MIND ABOUT THE PERSPECTIVE OF MANAGEMENT TO BE AN EFFECTIVE STRATEGIC MANAGER IN AN INDUSTRY.

AS THE MANAGER OF A BANK WHERE AUTOMATION IS TO BE MADE . EXPLAIN THE STEPS YOU WILL TAKE

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IMAGINE YOURSELF AS THE MANAGER OF A BANK WHERE AUTOMATION IS TO BE MADE . EXPLAIN THE STEPS YOU WILL TAKE TO DO IT.

This answer is only for an indicative purpose.

It will not give you a pass marks.

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www.prakashmba.blogspot.com

Following steps I will take as a Bank Manager to do Automation in my Bank :

Today, money has evolved beyond physical form, and can be measured by

electronic pulses.

This electronic representation of money has made it easier to progressively increase the use of information technology for banking operations.

Introduction of automation will liberate my bank from a lot of paper-work.

* The first step would be to invite presentations from various technology Companies which specialises in Bank Automation to become our technology partner/ partners for setting up Automation in my Bank .

* The Second step would be to choose from these Companies the best technology partner/partners , who would provide cost effective and efficient Automation System to my Bank .

Following are all the cases of transactions that involve businesses and consumers who are either initiators or recipients, are done:

B2B transactions are large-value, and recurring transactions, while B2C are low-value, large-volume transactions. C2C transactions are low-value and low-volume. Worldwide, B2C transactions have come to the forefront due to high awareness levels and, as in any other new development, prudence has prevailed to test the waters with low-value transactions. However, the big one is B2B, which is waiting to explode. As a Bank Manager ,I need to capture all three streams.

I will have to create the field to achieve this, and achieve some first-level requirements such as:

• High levels of automation

• Centralised database management and processing

• Online connectivity across delivery channels

• Front-office and back-office integration

• Surveillance and security Systems

• Back-up systems

Following would be the steps taken for creating Automation in Bank :

Automation

Choosing a technology partner is very critical to achieve the efficiencies derived out of automation such as low-processing costs, better turnaround times, ability to handle excessive volumes, zero-error rates, better customer deliveries and so on.

Any bank embarking on such automation projects should ask the following

questions and try to get answers for better clarity :

Is automation for :

Reducing back-office load?

Improving staff working conditions?

Improving customer service?

Enhancing business levels?

Higher levels of automation decrease the load on the back-office in accounting, reconciliation and so on, and there by set free resources for enhancing business levels. While the evaluation has to be clearly all of the above, each bank will need to look inward at its priorities and accordingly select the right system being open-ended, Web-enabled and scalable with the right functionality is crucial.

As a Bank Manager my answers to all the above questions would be Yes ( positive) for all . Hence Accordingly , I would choose my Automation system which would provide all of the above 4 benefits to my Bank.

Centralised database management and processing

The Internet clearly throws historical debates on centralisation vs de-centrali

sation out of the window. We are now talking of the flow of information and

transactions through the clouds where a de-centralised environment is not conducive and hence there is a basic need to take the centralised route.This requires business process re-engineering (BPR) and creation of centralized back-offices with re-defined process-flows to/from branches. The basic organisational structure needs to undergo radical changes with more emphasis on empowerment at branches with centralised control.

Keeping above things in my mind , we would set up centralised processing, through a hub-and-spoke concept, with regional processing centres at the main metros, and a national processing centre at one of our center.

Online connectivity

There is a need to connect customers, front-offices, back-offices and other

external agencies and determine access levels on a need-based system (real-time, batch, dial-up and so on). This requires a huge infrastructure to run alongside, and hence has to be carefully thought through. With an increasing number of delivery channels such as branches, ATMs, phones, the Internet and so on, the estimations on volumes transacted through each of these channels play a vital part in the determination of bandwidth to ensure acceptable response times.

Through a combination of terrestrial lines, VSAT and ISDN, we will achieve total online connectivity at our Bank, where all branches and other channels we use access the centralised database.

Front- and back-office integration

Workflow requires to be defined clearly with the over-riding objective of cus-

tomer service, which should remain at the forefront. Processes have to be transparent, and one has to set up customer service standards, and service level agreements (SLAs) between various internal groups with strong audit systems for service quality.

Surveillance and security

All of the above will fall flat without online surveillance and security. Access-

control, authentication and encryption mechanisms will be built around each of the systems. Technology , including firewalls , private and public key

certifications and data encryption are available, and a judiciously blended selection will be put in place, up-front. It is not just enough to have the security set-up. Monitoring mechanisms to tackle the hacker menace and on-going surveillance is a must.

Back-up systems

At this stage, when all of the above are running, the bank becomes dependent on technology. What this means is that it cannot do away with these systems and it requires a near-100 per cent up-time for staying in business. Hence, the need to have adequate back-up systems and telecommunications, contingency procedures during times of system un-availability, disaster recovery sites and so on which we will put in place.

I will take all the above steps as a Bank Manager with the help of my banks technology partner(s) for setting up above Automation system for my Bank .

Apart from the above Automation System , I would choose other Automation systems available for better and efficient productivity .

Let us see another problem faced by my bank and how i will solve it using Automation systems:

Business Challenge :

My bank like many of other organization today face significant challenges on providing continuous availability of its services for the customers. In order to compete and provide differentiation from the competitors my bank need to provide a fully automated fail-over mechanism that eliminates outages as this represented a huge loss in both revenue and customer trust. Service

interruptions examples such as if ATM’s were not available, customers cannot withdraw money from their bank account or if a CPU was down, the affiliates are technically out of work. Without the automated fail-over my bank would continue to serve clients but there would be inherit risks by doing so without having a view of the customer’s financial situation.

Solution :

I as a Bank Manager would choose Automation system like Unicenter CA-OPS/MVS Event Management and Automation(CA-OPS/MVS) to provide the automation for fail-over processing.

CA-OPS/MVS integration with Unicenter Automation Point and Unicenter CA-Sysview will enable my bank to achieve continuous availability with a high available processing environment.

Benefit :

My Bank with this high available environment will be able to provide its customers with best in class serviceability. This environment will also remove processing risks that were created in past due to service interruptions like CPU failures.

Tangible Business Value ( with example ) :

My Bank for an example will use only 0.6% of its CPU resource with Automation system like CA-OPS/MVS after its implementation instead of 5% which is our resource consumption .

In particular with the CA-OPS/MVS Printer automation solution after its implementation in my bank , we will be able to optimise manpower.

Now without Automation system , we need to work with 4 very expensive printers and 3 groups of 9 people working manually 24h/24h on printing the generated outputs and reports, sorting documents, activating new jobs, etc. The whole process is very slow with printers being IDLE for long times. Each time a new job is started, the printers needed a warm-up of 30 seconds per document, Therefore the over 12.000 documents per day represent a huge non-productive time.

But with implementation of this Automation solution , we will be able to work with 2 printers and 2 groups of 4 people working from 6 to 19h in two shifts. We will be able to manage to print 400 pages continuously per minute; jobs will be launched in batches without interruption and manual intervention. Documents will be sorted automatically per destination and printer delays due to warm up will be dramatically reduced to the strict minimum.

Hence , a bank Manager who is looking for Bank Automation should choose the right Automation Solution available with various service providers only after carefully checking and testing the Automation systems to get optimum Results.

Similarly , as a Bank Manager I will also avail Automation systems from various Automation service providers for :

1) Mortgage payment processing which would give my bank speed, consistency and accuracy in processing payments, and reduce overhead costs. This wiil add up to customer benefit , associate benefit and share holder benefit .

Examples of some automated systems for Banks from a Service provider :

a) MaxMilion Payments application for Mortgage payment processing

b) Director, MSP, Passport, for core retail banking systems.

c) Enterprise Lending solutions such as Advanced Lending Solutions(ALS) Servicing Manager for processing retail lending accounts.

All of these are provided by Fidelity Solution’s a Automation Service provider which a Bank Manager like me can approach to get the Automation done.

2) Automation of Accounting, Loan, Finance, Exchange management, Treasury, Bond, Budget, Risk Management will be done by me for my bank by using Automation system from any service provider that is better than my Competitors and best for my bank for better efficiency and productivitiy.

Hence , I will take all the above steps as a Manager of a Bank to do Automation in my Bank.

AS A QUALITY SYSTEMS MANAGER OF A RUBBER PRODUCTS MANUFACTURING UNIT , THE CONCEPT OF QUALITY CONTROL AND INSPECTION

2017-07-21T06:56:00.000+05:30

AS A QUALITY SYSTEMS MANAGER OF A RUBBER PRODUCTS MANUFACTURING UNIT , THE CONCEPT OF QUALITY CONTROL AND INSPECTION CAN BE ONLY BE IMPLEMENTED BY STRICTLY FOLLOWING THE BELOW MENTIONED POINTS:

This answer is only for an indicative purpose.

It will not give a pass mark.

You should have more marks by getting the personalized answer from

www.prakashmba.blogspot.com

INTRODUCTION

Quality Control :

Quality Control can be defined as the entire collection of activities which ensure that the operation will provide the optimum quality products at minimum cost .

In other words, it is a systematic control of various factors that affect the quality of the product. It depends on material, tools, machines, types of labour, working conditions, measuring instruments etc.

Inspection :

Inspection means checking of material, product or components of product at various stages , with reference to certain pre-determined factors and detecting and sorting out the faulty or defective items.

Inspection is one of the part of Quality Control process.

Quality Control Objectives

As a quality system manager my objectives for quality control would be:

1) strive to be the supplier of choice for my companies customers.

2) establish zero defects as the goal of production.

3)meet customer expectations for on-time delivery.

4)avoid waste and excessive cost without jeopardizing quality.

5)provide a safe environment for employees.

For Quality Control, I will have to

• identify the processes needed for the quality management system and their application throughout the organization

• determine the sequence and interaction of these processes

• determine criteria and methods needed to ensure that both the operation and control of these processes are effective

• ensure the availability of resources and information necessary to support the operation and monitoring of these processes

• monitor, measure and analyze these processes and

• implement actions necessary to achieve planned results and continual improvement of these processes

• document statements of the quality policy and quality objectives

• my companies quality manual

• document procedures required by ISO 9001:2000 or ISO/TS 16949:2002

• documents needed by my company to ensure the effective planning, operation and control of its processes

• keep records required by ISO 9001:2000 or ISO/TS 16949:2002

For quality control, I will have to establish and maintain a quality manual that includes:

• the scope of the quality management system

• the documented procedures established for the quality management system, and

• the description of the interaction between the processes of the quality management system.

For quality control , a documented procedure will have to be established to define the controls needed:

• to approve documents for adequacy prior to issue

• to review and update as necessary and re-approve documents

• to ensure that changes and the current revision status of documents are identified

• to ensure that relevant versions of applicable documents are available at points of use

• to ensure that documents remain legible and readily identifiable

• to ensure that documents of external origin are identified and their distribution controlled, and

• to prevent the unintended use of obsolete documents, and to apply suitable identification to them if they are retained for any purpose

Quality Policy

For quality control, I will have to ensure that the quality policy

• is appropriate to the purpose of the organization

• includes a commitment to comply with requirements and continually improve the effectiveness of the quality management system

• provides a framework for establishing and reviewing quality objectives and

• is reviewed for continuing suitability

Control of Monitoring and Measuring Devices

For Quality control and Inspection :

I will have to determine the monitoring and measurement to be undertaken and the monitoring and measuring devices needed to provide evidence of conformity of product to determined requirements.

I will have to establish processes to ensure that monitoring and measurement can be carried out in a manner that is consistent with the requirements.

When necessary to ensure valid results, measuring equipment will have to :

• be calibrated or verified at specified intervals, or prior to use, against measurement standards traceable to international or national measurement standards; where no such standards exist, the basis used for calibration or verification will be recorded

• be adjusted or re-adjusted as necessary

• be identified to enable the calibration status to be determined

• be safeguarded from adjustments that would invalidate the results

• be protected from damage and deterioration during handling, maintenance and storage If equipment is found to be out of calibration, I will have to assess and record the validity of the previous measuring results when the equipment is found not to conform to requirements. Appropriate action will be taken on the equipment and any product affected. Records of the results of calibration and verification will be maintained. When used in monitoring and measurement of specified requirements, the ability of computer software to satisfy the intended application is confirmed. This action is undertaken prior to initial use and reconfirmed as necessary.

Inspection / Monitoring and Measurement

For Quality Control and Inspection, one needs to monitor information relating to customer perception as to whether the customer requirements have been met.

Customer satisfaction needs to be monitored through continual evaluation of performance of the realization processes. Performance indicators will have to be based on objective data and include, but not limited to:

• delivered part quality performance

• customer disruptions including field returns

• delivery schedule performance (including incidents of premium freight), and

• customer notifications related to quality or delivery issues.

• customer surveys

One has to monitor the performance of manufacturing processes to demonstrate compliance with customer requirements for produce quality and efficiency of the process.

One has to conduct internal audits at planned intervals to determine whether the quality management system:

• conforms to the planned arrangements to the requirements of ISO 9001:2000 and to the quality management system requirements established by us, and

• is effectively implemented and maintained

The internal audit program will be planned, taking into consideration the status and importance of the processes and areas to be audited, as well as the results of previous audits. The audit criteria, scope, frequency and methods is defined.

Selection of auditors and conduct of audits ensures objectivity and impartiality of the audit process. Auditors do not audit their own work.

The responsibilities and requirements for planning and conducting audits, and for reporting results and maintaining records is defined in a documented procedure.

The management responsible for the area being audited ensures that actions are taken without undue delay to eliminate detected nonconformities and their causes.

Follow-up activities include the verification of the actions taken and the reporting of verification results.

Each manufacturing process would be audited to determine its effectiveness. Products at appropriate stages of production and delivery would be audited to verify conformity to all specified requirements, such as product dimensions, functionality, packaging

and labeling, at a defined frequency. Internal audits cover all quality management related processes, activities and shifts, and are scheduled to an annual plan. When internal/external nonconformities or customer complaints occur, the audit wiil be increased.

Our internal auditors will qualify to audit the requirements of ISO/TS 16949:2002. We would apply suitable methods for monitoring and, where applicable, measurement of the quality management system processes. These methods demonstrate the ability of the processes to achieve planned results. When planned results are not achieved, corrective and preventive action is taken, as appropriate, to ensure conformity of the product. We would perform process studies on all new manufacturing processes to verify process capability and to provide additional input for process control. The results of the process studies would be documented with specifications, where applicable, for means of production, measurement and test, and maintenance instructions. These documents include objectives for manufacturing process capability, reliability, maintainability and availability, as well as acceptance criteria.

We need to maintain manufacturing process capability or performance as specified by the customer approval process requirements. Control plans and process flow diagrams needs to be implemented, including adherence to the specified:

• measurement techniques

• sampling plans

• acceptance criteria, and

• reaction plans when acceptance criteria are not met

Significant process events, such as tool change or machine repair will be recorded. Reaction plans will be initiated from the control plan for characteristics that are either not statistically capable or are unstable. The reaction plans include containment of product and 100% inspection as appropriate. A corrective action plan will be completed indicating specific timing and assigned responsibilities to assure that the process become stable and capable. The plans will be reviewed and approved by the customer when required. Records needs to be maintained of effective dates of process changes. We need to monitor and measure the characteristics of the product to verify that product requirements have been met. This is carried out at appropriate stages of the product realization process in accordance with the planned arrangements.

Evidence of conformity with the acceptance criteria is maintained. Records indicate the person(s) authorizing release of the product. Product release will not proceed until all the planned arrangements have been satisfactorily completed, unless otherwise approved by a relevant authority, and where applicable by the customer.

A layout inspection and a functional verification to applicable customer engineering material and performance standards is performed for each product as specified in the control plans.

Results will be available for customer review.

For organizations manufacturing parts designated by the customer as “appearance items”, the organization will provide:

• appropriate resources including lighting for evaluation

• masters for color, grain, gloss, metallic brilliance, texture, distinctness of image, as appropriate

• maintenance and control of appearance masters and evaluation equipment, and

• verification that personnel making appearance evaluations are competent and qualified to do so.

We have to maintain documented procedures for inspection and testing activities in order to verify that the specified requirements, including key characteristics, for the product have been met.

The required inspection and testing and the accompanying records are detailed in the quality plan or documented procedures.

These procedures specify the inspection/test methods to be used, including:

• Methods of recording inspection/test results;

• Identification of authorized personnel;

• Limits of authorization;

• Training and qualification requirements.

As required, the customer, prior to use, approves acceptance sampling plans and procedures.

When 100% inspection is conducted, all of the characteristics with design requirements are inspected on every part.

In-process inspection and testing

We need to

• Inspects and tests product-in-process in accordance with the product’s quality plan and/or documented procedures and

• Holds product until the required inspection and tests have been completed or necessary reports have been received and verified, except when product is released under positive recall procedures.

All in-process inspections and tests are made at appropriate times in the manufacturing process and are performed to verify compliance with engineering requirements.

Final inspection and testing

The primary purpose of final inspection and test is to ensure that all specified receiving and inprocess tests and inspections have been performed and that the results meet the specified requirements.

As a minimum, the following NEEDS be implemented as part of the final inspection system:

• A check to ensure that all first article inspection requirements are current;

• A review of manufacturing plans to ensure that all quality requirements have been accurately implemented;

• A check to ensure that all changes have been incorporated for the units being shipped (i.e., change order, change incorporation request, corrective action implementation, trouble report, etc.);

• A final review of recorded nonconformances to ensure that they are all corrected, and / or have customer approval to ship (i.e., advanced rejection tag, open reject notice);

• A review of the customer purchase order, including applicable specifications, special instructions, etc., to ensure that all contractual requirements are complete and accurately implemented;

• A visual inspection or test of the product.

We NEED to carry out all final inspection and testing in accordance with the quality plan and/or documented procedures to complete the evidence of conformance of the finished product to the specified requirements.

No product will be shipped until all activities specified in the quality plan and/or procedures have been satisfactorily completed and the associated data and documentation are available and authorized.

Use of customer’s digital datasets as authority for design and/or inspection

Use of a customer’s digital data or dataset as authority for design and/or inspection will comply with that customer’s standards or contractual requirements. Digital datasets are used for reference only (no design or inspection authority) unless otherwise approved, authorized or compliant with customer requirements for dataset usage.

Analysis of Data

We need to collect and analyze performance measures within the Quality and Sales Departments to track the continual improvement (CI) of the quality system and to assist in determining what continual improvement projects should be initiated.

The Quality and Sales Departments gather information for these measures from inspection reports and customer data to give an indication of:

• Customer satisfaction;

• Conformity to product requirements;

• Process and product trends that can prompt preventive action;

• Supplier performance.

Advanced quality system activities, including control plans and control charts, may be used as an improvement activity for CI projects. The senior management staff reviews completed projects and determines actual benefit to use as a reference for future CI projects and activities.

Continual Improvement

The senior management team needs to ensure that continual quality improvements are implemented in an effort to reduce the variation of key characteristics called out on our or customer drawings, to prevent defects, reduce waste, increase profit, and to improve product quality and delivery. Measurement goals are determined for key quality and customer service parameters at management review meetings through the review of quality policies and objectives, audit results, preventive actions and from data collected for CI projects.

Corrective and Preventive Action

We need to maintain documented procedures for implementing corrective and preventive action and makes the appropriate changes to documented procedures resulting from corrective and

preventive actions.

Corrective action

Customer complaints, single significant product or process non-conformances and minor-but repetitive product or process non-conformances (even those product non-conformances that are dispositioned use-as-is) can cause the initiation of a corrective action.

Corrective action process needs to include:

• Root cause analysis of the problem and recording the results of the analysis;

• Determining and implementing the corrective action needed to eliminate this cause;

• Recording the results of the corrective action taken, and

• Ensuring that the corrective action taken is effective.

When timely and/or effective corrective actions are not achieved, the issue is escalated to senior management staff.

Corrective action response format

Unless otherwise specified by a customer, corrective action responses will be documented on the our corrective action form needs to include:

• A restatement of the finding;

• The immediate correction;

• The root cause of the problem;

• The corrective action that addresses the root cause;

• The corrective action verification plan;

• The follow-up that was done to check for the effectiveness of the action.

Records of the corrective actions need to be maintained. Preventive action ,we need to take into consideration information from four sources for potential preventive action:

• Statistical process control data from the waterjet machining process;

• Internal audit observations;

• Customer feedback from day-to-day conversations with Sales;

• Customer feedback from monthly surveys;

• Review of incoming materials for variation

Preventive action process needs to include:

• Determining the cause of the potential problem;

• Determining and implementing the action needed;

• Recording the results of the preventive action taken;

• Ensuring that the preventive action taken is effective.

Historical data and problem-solving tools are used to analyze and eliminate potential causes of Non-conformities.

TECHNICAL REASONS FOR TESTING

1.Rubber is a unusual and complex material. When compounded in a particular way it exhibits a unique combination of physical properties.

2. It is highly deformable with possibility of complete recovery. It’s shear and Young’s modulii are far higher than the bulk modulus.

3. Even if rubber compounds are made in identical ways, the properties may not be identical, unlike the behaviour of metal.

4. Conditions and test procedures are of paramount important in rubber testing. For example, variation in testing speed in a tensile machine may result in a significant difference in modulus.

5.Test results may differ depending upon the stress history of the test Specimen.

The above points illustrate the fact that this unusual class of material requires carefully worked out testing procedure. Methods or philosophy used for other materials cannot be simply adopted for rubber if meaningful results are to be obtained.

AS A QUALITY SYSTEMS MANAGER OF A RUBBER PRODUCTS MANUFACTURING UNIT, I WILL KEEP ABOVE POINTS IN MIND ABOUT THE CONCEPT OF QUALITY CONTROL AND INSPECTION .

MARKETING MANAGER OF BAYER AND COMPANY , TECHNIQUES IN FORECASTING DEMAND OF A PRODUCT YET TO BE MANUFACTURED

2017-07-21T06:54:00.005+05:30

This answer is only for an indicative purpose.

You will not get a pass marks with this answer.

You should have more marks by getting the personalized answers from
www.prakashmba.blogspot.com
So get more marks by getting the answers from www.prakashmba.blogspot.com

AS A MARKETING MANAGER OF BAYER AND COMPANY , I WILL APPLY FOLLOWING TECHNIQUES IN FORECASTING DEMAND OF A PRODUCT YET TO BE MANUFACTURED :

Demand Forecasting Methodology

To obtain the most accurate forecasting results, market response forecasting and time series forecasting are used together to predict a demand.

Market response forecasting

To accurately predict the consequences of your choices, you must factor how the market will respond to each decision. For example, you need to forecast how consumers will react to various prices. Such a model will look like a textbook demand curve, as shown in Figure 1. The curve itself—labeled D1—predicts demand at different prices, holding other variables constant. At the regular price of Rs 265, it predicts weekly demand for about 1,800 boxes of our product in a specific market. If this item were discounted to Rs195, without any other stimuli changing,demand would increase to about 5,000 units.

The relationship between the quantity demanded and the price offered is expressed as the price elasticity of demand. Given the price elasticity, and a forecast of demand at a particular price, it is possible to forecast demand at alternative prices.

In addition to the price elasticity, it is also necessary to know or assume the precise mathematical relationship (the functional form). A multiplicative relationship, with constant elasticity, is a standard and successful assumption.

Time series forecasting

Pricing and promotion decisions greatly influence future demand, so calculating and predicting these outcomes is vital to realizing potential. Time series forecasting is a collection of methods for projecting forward from historic observations. A very simple example is a moving average. Of course, different methods are appropriate for different business conditions. The Holt’s Method is most suitable for basic or staple merchandise, while the Winter’s Method works best for seasonal merchandise, and Croston’s Method is appropriate for merchandise with little turnover. In all, there are more than a dozen methods to use, depending on your current situation. What is common across all methods is that the only data consumed in producing the forecast is derived of the learnings from previous similar situations. They permit modeling seasonal demand fluctuations, trend growth or decay, and lifecycle phenomena.

Using time series methods, you need to utilize prior observations of demand. A good source of these observations is a point-of-sale system. These systems capture sales/transaction information, so it is necessary to make two adjustments in order to create your time series forecast. The first is to adjust the sales quantity to reflect the sales that you could have achieved if there had been no inventory defects. This may be as simple as extrapolating across weeks in which the item was out of stock, or as complex as dynamically adjusting sales when daily stock values fell below presentation or size count thresholds.

For the second adjustment, you need a way to back out the effects of market stimuli on your observed sales. You can use the market response model, not to forecast the future, but to estimate what unconstrained historical sales would have been if price and other stimuli were held constant over the period of history under examination. This process is sometimes referred to as normalization. You can then apply appropriate time series methods to that history. The forecast predicts the true or unconstrained demand at regular price, assuming no promotional tactics are employed for each period in the future.

Shaping Demand

Thus far, you have predicted unconstrained demand (as separate from sales) and have looked at the impact of time and market influences on that demand. With this information in hand, you can effectively shape and respond to demand.

Here are some of the ways Marketing Managers use this information to manipulate demand for products.

1) Reassemble the pieces . Knowing how pricing and promotional tactics affect demand allows you to make better decisions regarding pricing levels and markdowns, which products to promote when, and what promotional tactics to employ—all in the service of achieving

your business objectives—whether they are increasing profits, market share, or revenue.

2) Predict promotional sales lifts . Merging the response knowledge with forward-looking promotional and pricing plans allows you to make better buying, allocation, and replenishment decisions, thereby reducing the cost of over-stocks and minimizing the frequency of out-of-stocks.

On both the demand and supply side of the profit equation, understanding the constituents of demand provides tangible financial benefits.

Demand Driven Execution

What happens once demand is understood? Having an accurate prediction of future demand might be interesting, but is relatively worthless unless you put it to practical use. To benefit retail organizations, demand intelligence should now become an integral component of planning and execution.

Plans based on historical sales only perpetuate mistakes made in the past, because demand intelligence is unconstrained and not influenced by events and inventory. It is more accurate than isolated point-of-sale data at representing the voice of the consumer. In this way, demand intelligence provides an additional point of view that quantifies the real potential of various categories, locations, and products.

You can derive achievable sales by integrating the demand forecast into each of the planning and execution processes.

The Marketing Manager mixes the “arts” of market trend analysis and merchandising with the “science” of demand forecasting. Once you understand anticipated sales, you can finalize your plan by incorporating the product mix, required weekly inventory levels, corresponding receipt flow, and exit strategies. You should repeat this process at each planning stage—from merchandise financial planning to assortment and item planning.

Finally, you will execute your demand driven plan—executing pricing decisions,generating orders, and notifying suppliers. You incorporate marketing plans,determine in-store product positioning, and allocate and replenish individual items.However, at the start of all of these executables was a consumer driven forecast that was transformed into an intelligent sales plan.

CONCLUSION

Demand forecasting allows Marketing Managers to make better decisions about which prices to adjust and when, which products to promote, and what promotional tactics to deploy, in order to achieve objectives. The benefits are significantly more profound and productive than a simple sales forecast.

The best informed decisions will help you increase profits, sales or market share— whatever your goal. By combining your knowledge of past performance under similar circumstances with forward-looking promotional pricing plans, you can make better buying, allocation, and replenishment decisions. In turn, you will reduce the cost of over-stocks and minimize the frequency of out-of-stocks.

Understanding consumer expectations at given times and under different market conditions delivers tangible benefits—both on the demand side and supply side of your business.

Understanding of demand should be the logical backbone of all merchandising decisions you make. Quantifying these effects is a formidable challenge, although the basic scientific techniques are well understood.

But even with rough-and-ready estimates of the magnitude of these effects—and how they vary under different circumstances—you are better equipped to make wise pricing and promotional decisions and to ensure that your supply and replenishment operations are calibrated to the sales impact of these decisions.

AS A MARKETING MANAGER OF BAYER AND COMPANY , I WILL APPLY ABOVE TECHNIQUES IN FORECASTING DEMAND OF A PRODUCT YET TO BE MANUFACTURED

SUPPOSE YOU ARE HEADING A BUSINESS UNIT IN INDIA WHICH ARE THE POINTS ABOUT STATISTICS YOU WILL KEEP IN MIND FOR DOING BUSINESS PROFITABLY. IN OTHER W

2017-07-21T06:54:00.003+05:30

SUPPOSE YOU ARE HEADING A BUSINESS UNIT IN INDIA WHICH ARE THE POINTS ABOUT STATISTICS YOU WILL KEEP IN MIND FOR DOING BUSINESS PROFITABLY. IN OTHER WORDS WHAT IS THE RELEVANCE OF BUSINESS STATISTICS IN YOUR VENTURE.

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AS A HEAD OF A BUSINESS UNIT IN INDIA FOLLOWING POINTS I WOULD KEEP IN MY MIND ABOUT STATISTICS FOR DOING BUSINESS PROFITABLY :

1. Successful Business Statistics

Statistics show up everywhere in business and it is important that they are acknowledged and, at least, partly understood to help manage your business successfully.

Statistics can be seen as an early warning system as they will always give you the cold truth if they are used properly and not with blind faith in your business processes from cash flow to a successful sales campaign.

Suppose you are the marketing manager of Titan Watches, Bangalore. What are the steps you will take to guard against the phenomenon of marketing myopi

2017-07-21T06:54:00.001+05:30

Suppose you are the marketing manager of Titan Watches, Bangalore. What are the steps you will take to guard against the phenomenon of marketing myopia?

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Titan and marketing Myopia

Today the marketing is not merely the selling or promoting the goods and services. It is the process of planning and executing the conception, pricing, promotion and distribution of goods and services to create exchanges that satisfy individual and organisational goals.

As the marketing manager of Titan watches, Bangalore I should also keep an eye to prevent the marketing Myopia.
The following form of Myopia may apply in a branded watch company.
1. Narrow definition of the business.
2. Pre occupation with a product or technology.
3. The belief that the product id forever.
4. Too much faith in mass production.
5. Over optimism about the expanding population.

Titan watches Bangalore is a branch of Titan group. They have revolutionized watch retailing in India, by setting up a chain of high profile stores. The world of Titan is their face in the market, a store providing an international ambience, showcasing their entire range. This provide the customer with the compute brand experience - making it the most preferred.

Current Network
Over a period of 15 years the chain has grown to 164 showrooms at prime locations across 100 towns in India. These showrooms have grown along with the company, both in business and profits, which is testimony to the succers of the chain.
Titan is the market leader, having a variety of ranges and introducing around 200 new models every year, ensuring sustained growth.

The World of Titan is the face of 'Titan' in the marketplace. Hence, each showroom has a turnover of about Rs. 20 to 30 million a year in large cities and about Rs. half a million a year in smaller towns. All existing showrooms exhibit a consistently high growth of about 15% to 25% every year.
The World of Titan stores show a healthy return on investment of more than 24%. Although the net earning potential of a showroom varies from market to market, in all cases it exceeds market rental value of the property.
Most showrooms break even in the first year and start making profits from the second year onwards.
We have a dedicated retail team with professional expertise in setting up and operating showrooms across the country. This team is dedicated to the World of Titan and works on improving their business potential.
Besides, each of the Showrooms also has an Authorised Service Centre. This service centre is not only a profitable business by itself but also helps drive traffic to the stores it also adds equity to the showrooms and helps build trust among customers.
Testimony to the high profitability of the Titan franchise is evident from our business associates opting to open a second and, in some cases, a third store.
Our franchising system is built on the premise that the Corporation can be successful only if our franchisees are successful first. We believe in a partnering relationship with our owner/ operators, suppliers and employees. Success for Titan's Corporation flows from the success of its business partners.
Titan is, by choice, an equal opportunity franchiser, with a proven track record of franchising to enterprising women.
A key business partner of Titan in the market place is the redistribution stockist. The distribution channel handles well over 50% of the watch business of the company. The main focus of this channel is market penetration and coverage. Currently we have 65 distributors handling well over 6000 dealers across the country. Titan's growth rate in the marketplace requires us to appoint new distributors every year. The combined stockholding and credit to the market is controlled to stay within stipulated limits. The distributor channel operates independent of all other channels and reaches out to its own set of distinct dealers.

WIPING OUT MARKETING MYOPIA IN TITAN WATCHES

As a manager I have to find the symptoms of marketing myopia in Titan. And also prepare a panacea to cure the myopia. Almost all organization that shows marketing myopia will shows same symptoms. But the remedy for it varies from each case.

The main symptoms of Marketing Myopia in a business organization are as follows.

1.The narrow definition of the business.
2. Pre occupation with technology.
3.The belief that product is forever.
4. Too much faith in mass production.
5.Optimism about the expanding population.
6. Myopia in communication.

Here analyze the causes of marketing myopia and how can we overcome the same in Titan, Bangalore as a manager.

1.The narrow definition of the business.

Based on product type or class and not on the basic need, which fulfill, resulting in the decline or demise is one of the main diagnoses. Myopic vision leads Titan to believe that we are in a product specific business, independent of the generic need.

Top selling brand of HMT mechanical watches lost their market share because they defined the business narrowly, in terms of products they happened to produce at that point of time. HMT stuck to mechanical watch technology at a time when digital and quartz technologies were emerging to fulfill customer’s need for time keeping in more effective manner. Titan changed the basic perception of wrist watches from a utility product to a life style product; but the time keepers of the nation failed to keep their own time.

2.Preocupation with technology
The technology driven firms manufacturing hi tech consumer product like Titan watches usually afflicts this form of myopia. The top management is often overwhelmed by the profit possibilities of technical R&D. The success of the firm in the past is attributed only to their technical expertise, research and development efforts etc. The firm tends to view itself as a manufacturing organization making things rather than satisfying consumer needs.

I have to keep an eye on over obsession with technology. It will ruin the money and manpower of Titan. At the same time, R&D is inevittable to the success of titan.

Preoccupation of technology some times will be useless. Television, MP3 and Internet on wristwatch are the technology we owned now. But the demand for the above is not so much. At the same time we spend a lot of money on R&D over it.

Global position system Receiver (GPS) on wristwatch is another invention in the field of watch. This invention by Global Watch Co. in Thaiwan is now looking for its customers.

A few ore attention to be given to the pre occupation with technology, which does not play a relevant role in the firm. The firm tends to view itself as a manufacturing organization making things rather than satisfying consumer needs. This problem will ruin the money and manpower of Titan. By the way R&D is inevitable to the success of Titan.

3.The belief that product is for ever.
No industry can ever remain a sunrise industry and no product can continue to be at the peak of its growth curve for long. There are companies organized and operated to create and capitalize on growth opportunities. Industry that assumes itself to be riding some automatic growth escalator invariably descends into stagnation. The history of every dead and dying growth industry shows a self deceiving cycle of bountiful expansion and undetected decay companies who seem to have founded their business practices on the premises that their products have no competition or substitute. That product may obsolete due to some technological innovation.

Titan should be innovative along with the innovation of modern technology. We know the mechanical watches replaced by the quartz watches. Diversification of business is very important in this regard. The world is fast growing. The technology of today will obsolete tomorrow. Method of production, type of technology, need of the consumers, purpose of the product, Change of Govt. policy, Convenience of buyers, Sociological change, changing taste and fashion etc are changed time to time. If we think our product will overcome the above hurdles, with out any innovations is a Himalayan blunder.

We can overcome this difficulty by changing ourselves from time to time. Innovative ideas on watch making and retailing helps Titan to overcome this type of marketing Myopia. Tie up with worlds other watch making companies may help Titan to produce more watches to them. Today the worldwide distribution is carried on through on exclusive distributor in each country, who is responsible for indenting, distributing, servicing, assisting and providing marketing support for the brand.

Titan can offer high quality watches and watch parts for other brands, designed according to customer requirements. We have manufacture and supply watches for several prestigious international brands. Titan manufactures complex watches and almost all the components that go into them.
It includes:
Over thirty different types of high performance jeweled quartz movement calibers.
Cases and bracelets in gold steel and brass finished in a variety of surface coatings including Physical Vapor Deposition (PVD).+

Innovation in quality control will also help Titan to overcome this marketing myopia. Today Titan’s quality compares with the best in the industry and our products are put through rigorous tests for compliances with NIHS and ISO standards. The customer is a guaranteed unparalleled quality and quick delivery at very attractive prices. Innovation can be made in the field o raw materials also. Today Titan source a variety of raw materials such as stainless steels, tools steels, leaded brasses, engineering plastics, tools, consumables, components and specialty movements for our watch manufacturer operations. For jewelry manufacture, Titan procures gold, precision stones, chains, findings, jewelry making tools and consumables. Titan’s vendors are spread across 20 countries, mainly in Asia and Europe.

The needs of diversification and innovation leads Titan to the segment of Eye wear, precision engineering, Machine building and clocks. The company’s recent retail initializes Gold plus jewelry stores for the market and Titan Eye+ eye wear stores for the prescription eyewear market are showing promising sales. While Gold plus stores are present in 12 semi urban towns, Titan Eye+ is being piloted in 5 stores across Bangalore and Nagpore.

Due to technological innovation the existing models or products may obsolete time to time. So Titan should safeguard its position through innovation of new ideas, new models, and new products. The diversification of business is also helpful to progress. Today quarter watches replace the mechanical watches. Tomorrow these quarts watches may replace. New product line may enter. So we were bewaring of it. Innovation and diversification is the only panacea for these myopic symptoms.

4.Too much Faith in Mass Production
The world demand for watches is around 600 million. Indian producers currently make about 12 million watches. Under this conclusion, if we produce 100 million watches, ie. Mass production, considering all the present models will not be viable.

The mass production may reduce the cost of production and sale price. At the same time it is the symptoms of marketing myopia. It gave importance to selling than marketing.

The mass production is favorable only under the following conditions.
1. Where the demand for the product exceeds supply.
2. Where the product cost is high and has to be brought down through increased productivity.
As a marketing manager of Titan, I have to adapt the changing patterns of consumer needs. So we can optimize the quality and quantity of performance of Titan. Today the first quarter of the financial year with the net profit zooming to Rs. 12.64 crore which is three times the net profit of the corresponding quarter in the previous year. Income from operations went up to Rs. 666.59 Crore during the current year from Rs. 449.92 crore during the corresponding period last year, and the company’s profit before taxes increased nearly five times to Rs.25.36 crore compared to Rs. 5.26 crore last year. Capital employed at Rs. 579.23 crore at the end of the first quarter of the current year is also lower compared to 31st march 2007 by Rs. 12.66 crores.

Watch segment grew by about 15% with sales income increasing from Rs.148.68 crore during the first quarter of last year to Rs. 170.92 crore during the corresponding period this year. The jewelry segment grew significantly with sales income increasing from Rs.288.25 crore during the first quarter of last year to Rs.472.85 crore during this year.

5.Optimism about the expanding population

Close to 90% of consumers in India are single watch owners. It is believed that the profits are assured due to an expanding and more affluent population. The demand of watches will increase corresponding to the increase of population is a myopic concept. If the market is expanding on its own firm tend to give up its effort of expanding it.

As the marketing manager of Titan I have take an effort to think about customer needs and product improvement. At the same time other companies in the same field become complacent in their marketing effort, lose sight to the changes taking place around them, and stop thinking about customer needs and product improvement. They become vulnerable to changes in technology, competition and consumption pattern, and to factors related to the economic, sociological and political environments.

In short we don’t produce the product, which is needed by the customer. We should produce needs among customer for our watches.

For that we can adopt several sales promotion and marketing techniques over it.

Today India boasts of approximately 200 million watches that are over 10 years old and one particular customer might also have one, which he may have longed to exchange for a stylish or technologically advanced new one, there I will adopt Titan Exchange offer. The unique exchange offer by Titan, in my mind is a unique one. Customer can bring in ANY old watch of any make, how ever old or new, in any condition, functional or not and receive a flat discount of a particular % on their purchase of any new Titan. Indian consumers generally don’t wish to dicard anything they own. Titan exchange, as a powerful trigger enabling their own a new watch while giving value for their old one. The main objective of this type of offer is to activate the replacement buyers and incentivising them to change their old one for a stylish new watch. This would thereby expand the over all watch market by reducing the purchase cycle. During this special offer, customer can choose from a wide range of Titan watches including offerings such as Titan edge, Titan Aviator, Raga shimmer, Titan Fashionista etc.

This type of offers will be supported through a hi blitz, powerful, multi-media marketing campaign comprising television, radio, print and out door hoardings.

Publicity and propaganda will influence the increasing population.

Award
At the same time increasing population will not be a cause of increasing sales and profit. We can use the publicity and propaganda in this context to increase sales. Different titles and awards got by Titan can be the matter of publicity. Now the Titan industries Ltd. has won SAP ACE 2007 Award for customer Excellence, in the best consumer product sector implementation large enterprises category. The award was in recognition of a knowledge portal developed by Titan industries Ltd. for its watch assembly, sales and marketing and knowledge and business excellence management functions.

Then the growth in the size of the consuming population alone cannot guarantee success for every firm in the industry. In order to succeed, firms must understand the needs of the customer.

Now a day, some people do not use watches, who have the purchasing power. Instead they use mobile phone to know the time. They think watch is an additional burden to them or treated it as an obsolete style. Here Titan or other watch dealers could not get the benefit of increasing population. Then we realize that the growth in the size of the consuming population alone cannot guarantee success for every firm in the industry. In this regard I shall organize the turn over of Titan with a proportion of the needers, not the population. Before that I have to change population to the maximum extent that have the need for watch, particularly Titan watch. Here I will use all marketing sales promotion techniques.

6.Myopia in communication
Every business firm is judged from the quality and contents of its business communications. What, people speak or think about the firm is depending upon what, the firm speaks to them. The policy and commitments of the firm, here Titan is to be understood by public, through its business communication.
Legendary in service, absolute integrity, uncompromising quality, dedication, to core competencies, skilled, capable, and motivated employees, strong alliances, commitment to the community etc is realized by people through business communication of Titan.

The official and business communication should be effective. The business communication towards public is also being termed as advertising. Some time the advertising did not make any change in status quo, even we pay a lot for it. It indicates the effective communication is not done through that. Or it didn’t reached at the targeted audience.

So the business communication of Titan should be at right time, right way, at right manner, to the right audience. We can use logos, mottos, theme music, and quotations etc, which are simple but strong to communicate Titan’s idea.

As a marketing manager of Titan Bangalore, I have to ensure the following things.

• Quick response
• Quick and quality repairs
• Repair guarantee
• Signet points on service billing at watch care centers.
• Titan gift voucher acceptance at watch care centers.
• Credit card acceptance
• Provision for stand by watch
• Wide range of watch accessories
• Conversion of old watches to new on selected design/models
• Home delivery of watches at nominal cost at selected outlets
• Repair of all Titan watches
• Fully automated billing at most service centers
• Dedicated and company trained customer care hostess and service technicians.
The Titan signet is a selected club that recognizes the loyalty of Titan customers at world of Titan showrooms. It is designed to give these select signet members, exciting rewards as well as tangible benefits in recognition of their loyalty to Titan and the world of Titan showroom. These rewards and benefits increase in value as the members increase their purchases from any world of Titan showroom or Titan watch care center participating in the Signet programme. The Titan Signet also provides a platform for direct feed back from these valued customers. The signet membership is valid for a period of 3 years from the date of enrollment. ‘You win some…..and then you win some more.’ That’s the idea behind the Signet Reward Scheme a host of exclusive services and benefits are available to signet members, such as
• Exclusive offers on watches and clocks at the world of Titan, Titan watch care centers as well as on other premium brands.
• Being the first to know about new products and invites to preview.
• Free gift delivery services through the world of Titan
• Priority service at the Titan watch Care centers.
More over I shall very keen against any symptoms of Myopia like
• Shadow of obsolescence
• Population myth
• Production pressure
• Dangers of R&D etc.

I have to take special steps to widen the definition of business. To study the customer needs every time, and market behaviour. And beware of shadow of obsolescence, population myth, production pressure, dangers of research and development etc. Then act upon that. Timely changes widen our panorama. Titan now itself is the symbol of lifestyle more over a time machine. Titan having hung on to its leading position in the market with aggressive marketing is upbeat about the future. By wiping out the marketing myopia from the Titan I can lift up the watch company to sure success.

Points to keep in mind for recruiting new personnel into an organisation if you are the HR Manager of a footwear manufacturing company

2017-07-21T06:53:00.001+05:30

Points to keep in mind for recruiting new personnel into an organisation if you are the HR Manager of a footwear manufacturing company :

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Manpower or human power may be the total knowledge, skills, creative activities, talents and aptitudes of an organization’s workforce as well as the values, attitudes and benefits of an individual involved. It is the sum total of inherent abilities, acquired knowledge and skills represented by the talents and aptitudes of the employed persons. The most important in a management system is the management of men, which is the most valuable asset of an organisation.

Human Resource Planning, means deciding the number and type of Human Resources required for each job, unit and the total company for a particular future date in order to carry out organizational activities. Strategic planning is the basis for human resource planning.
The human resource manager of the company has to understand the company’s strategies and their demand for human resource by planning for human resource. Human resource planning may be viewed as foreseeing the human resource requirements of an organization and the future supply of human resources. It is not only about the number of the employees, but it also means skills, knowledge, values, ability, commitment, motivation etc.
The Manpower planning process is an important aspect to be considered before commencing any recruitment procedures:-
1. Are vacancies to be filled by promotions from within or by hiring from outside?.
2. How do the training and development objectives interfere with the manpower planning objectives?.
3. What union constraints are encountered in manpower planning and what policies are needed to handle these constraints?.
4. How to enrich employee’s job? Should the routine and boring jobs continue or be eliminated.
5. How to downsize the organisation to make it more competitive.
6. To what extent production and operations be automated and what can be done about those displaced.
7. How to ensure continuous availability of adaptive and flexible workforce.
Forecasting of human resources requirements serves the following purposes
1. To quantify the jobs necessary for producing a given number of goods; or offering a given amount of service;
2. To determine what staff-mix is desirable in the future;
3. To assess appropriate
INTRODUCTION
Footwear is the collective term for the movable objects, which support to bear the weight of human body with soft feet on the surfaces of the ground. Footwear can be a product of artistic design and is considered a form of decorative art also though the same is for safeguarding the foot.
Now a days the footwear industry is facing tough and still competition to withstand in this situation the industry need to have a major share of market, this can be obtained only through sustained, prolonged advertisements. Here the market is having a brand image and goodwill became other advertisement. Its true that quality matter but this quality can be brought to light only through in depth advertisements. So it’s really imperative to have a company advertisement wing in this footwear competition.
Team of employees in Lidsole:-
In order to meet the challenges of dynamic business environment, the organisation has replaced the old hierarchies with teams of different types in the form of work teams or project teams. A team is a group of people in the organisation constituted for completing certain assignments. A team is like a task force with a major difference. A task force is created to solve unusual problems that an organisation may face occasional. In contrast to this, work teams are constituted quite frequently.
Types of Team
There are different types of teams. The typology of the teams are based on their constitution, purpose, power entrusted, duration, etc.
The teams are
1. Lead team
2. Cross functional Team
3. Problem solving Team.
4. Self managing team

Lead team
The lead team consists of managers and their direct subordinates. This is the most usual form of team which works in every part of an organisation. The basic feature of this type of team is that it is created on the basis of hierarchical relationships as organisational administrative units. The objective of a lead team is to plan and execute the business activities in its specified area of responsibility. These activities include determining how and what contribution the team will make to achieve organisational objectives. The lead team sets the example by demonstrating the art of teamwork. The approach is team work adopted is ‘do as I do’ rather than the conventional ‘do as I say’ approach. This creates the team spirit among its members which is essential for effective performance.
Cross functional Team:-
A cross-functional team has been constituted by selecting personal from different functional areas, particularly from those functions which have high interdependence. The basic objective of this team is to solve problems and take decisions in those areas which cannot be done by a particular functional department.
Problem solving Team
The problem solving team is also known as corrective action team, which is constituted to solve specific problems which the organisation is facing It was constituted to make effective of the following lines:-
a. Selecting the specific problems, which cannot be soled by an individual alone.
b. Selecting the personal who have intimate knowledge of the problem.
c. Communicating the nature of the problem and need for its solution.
d. Giving the team a high profile within the organisation.
e. Implementing the solution suggested by the team
f. Recognizing the contributions made by the team
Self managing Team:
It is a team, which is empowered and is having the following characteristics
a. They are empowered to share various management and leadership functions.
b. They plan, control and improve their own work processes.
c. They set their own goals and inspect their own work.
d. They often create their own schedules and review their performance as a group.
e. They prepare their own budgets and coordinate their work with other departments.
f. They usually order materials, keep inventories and deal with suppliers
g. They are frequently responsible for acquiring any new training they might need.
h. They may hire their own replacement or assume responsibility for disciplining their own members.
i. They and no other outside the team takes responsibility for the quality of their products or service.
Advertising : Meaning and definition:
At every point of the day you are bombarded with commercial messages. Advertisements are everywhere. When you get up in the morning by your beside radio, when you pick up junk mail from the doormat, when you stand at the poster laden bus stop, when you read newspaper, when you watch TV at night, the commercial assault on your senses seems relentless. Researchers in the United States have estimated that by the age of 18 the average American will have seen around 3,50,000 commercials. Love them or hate them, you cannot avoid them. The term, `Advertising' came to be defined as paid form for mass media communication, rather than all promotional activity. It became a means to the marketing ends of managing and controlling the consumer markets at the least cost. Advertising can be used for a number of reasons, to motivate consumers to buy goods, or certain consumers not to buy goods, to change attitudes or to encourage retailers to stock products.
When a marketer or a firm has developed a product to satisfy market demand after thoroughly analyzing the market, there is a need for establishing contact with the target market to eventually sell the product. Moreover this has to be a mass contract, which means that the marketer is interested in reaching a large number of people so that his products ma receive optimum exposure
Naturally the best way to reach this, mass market is through mass communication and advertising is one of such mass communication along with such other means as publicity, sales promotion and public relations. Advertising is not a panacea that can restore a poor product or rejuvenate a declining market. It only helps in selling through the art and business of persuasive communication.
"Advertising is neither a science, an art, nor manufacture. It has no general standard, no root principles, no hard and fast rules, no precedents, and no foolproof machinery. It is a subject full of controversy today as it was fifty years back." Successful advertising appeals both to the head and to the heart, to reason and emotions. Now days doing business without advertising, is like -winking at a girl in the dark; you know what you are doing but nobody else does.
Evolution
Advertising, as we understand it today, was not used until about 200 years ago. The form of advertising for the transmission of information dates back to ancient Greek and Rome. Criers and signs were used to carry information for advertising goods and services well before the development of printing. During 17th century, when newspapers started appearing in various parts of the world, newspaper advertising began to develop. This was an important phase in the history of advertising. Earlier ads in the newspapers were for books, marriage offers, new beverages and ads for travel. Soon advertising became the main source of revenue for newspaper and space selling came into existence. Those early advertiser were mostly importers of products that were new to England. For example the first add offering coffee was made in a news paper in England in1652 chocolates and tea were first introduced through news paper in 1657 and 1658 respectively in England in 19 century advertising marked a great expansion, In 1875, the first modern advertising agency was set up in Philadelphia (N.W. Ayer & Son). They offered not only space selling but also many other services to clients.
Industry revolution had a tremendous impact on advertising industry. Industry revolution led to the expansion of mass manufactured goods in Europe and America, making markets larger and larger. TV development altered the relationship between the makers and users of goods and created a need for advertising. By the end of 1920s advertising had grown into a major industry in USA. A majority of automobiles and packaged foods were advertised on a large scale.
The pre-independence ads were mostly about ladies goods, gent’s cloths, traveling eating-places and entertainment for British in India. It is only after independence and the abolition of the princely order that a newborn middle class received the attention of the advertisers
Our advertising in the last couple of decades has made much progress in terms of technical excellence, copy and graphics. However, progress in the area of relating to customers is slow. There is a definite trend both in audiovisual and print ads to use appeals that are compatible with Indian culture.
Advertising in India - reasons for renaissance:
• The prospect of the opening up of new segments like health care and insurance.
• The increased ad spends by dot-coms on traditional and non traditional media
• The increase in competition, which is, seeing the entry of new companies and new campaigns.
• The discovery of new market segments for specific products at specific prices
• The emergence of advance media planning techniques that facilitates optimal choice of media
• A strong demand for desi ads, owing to the success of Pepsi ‘dil mange more’
• International affiliations that make available best-in-class advertising systems to Indian agencies.
• The coming of age of integrated communications, which helps agencies manage brands better.
• The willingness of MNCs to make adjustments in the treatment of advertisements.
There will be a number of challenges unique to the coming generation and with these challenges there will be opportunities, responsibilities and rewards that Advertisers of the past could not have imagined.
The Workmen’s participation in employment become evitable now a day as the strength of trade union is growing day by day. The ability to meet the customers' needs depends on the knowledge, imagination, skills, diversity, teamwork and integrity of the people working in an organisation and their dedication. Human resources programs are driven by this commitment. There will be a number of challenges unique to the coming generation and with these challenges there will be opportunities, responsibilities and rewards that Advertisers of the past could not have imagined.
"Advertising is a funny business because it is not only a business - it is half a business, quarter a profession and quarters an art. An advertiser may organize the advertisement campaign through its own advertisement department, or may entrust the work to an advertisement agency.
The advertising agencies operating in India are accredited by the INS-(Indian Newspaper Society), New Delhi. While granting accreditation, the services rendered by the agencies, the accounts handled, the billing made, the organization structure and facilities, the foreign tie-ups, the creative output, the personnel employed, all these are taken in to account. INS press hand book lists accredited agencies together with basic information.
An advertising agency renders a variety of advertising and marketing services to the company. On behalf of its client companies', it studies capacity’s products, sales pattern, distribution system and consumers and in the background prepares the plans for advertising campaigns. It then executes these plans by preparing an advertising copy, layout, selects media; buys space and evaluate the advertisement results.
A Company benefits enormously by the quality of these services, which are an amalgam of rich expertise, varied experiences and objectives and professional attitude. The kind of quality of services rendered sometimes far out weigh the cost involved.
The advertising agency manages its employees finance and other resources effectively and economically. Public relations, sales promotional function and clients contacts are maintained by the management for the effective operations of the advertising agency.
The advertising agency selects the media or a set of suitable media for the client to reach the right type of audience. The rates, circulation, population, audience, income and other important information are collected for this purpose. It has to see to it that the media plan is carried out properly which is devised to implement the campaign communication objectives.
Planning
The management delegates the responsibilities of advertising planning and execution to an agency, which must have a fair knowledge of the firm's products, its history, the present market conditions, distribution methods, price levels, and other conditions.
The advertising copy is written, the layout is prepared, illustrations are drawn, photographs are finalized, and a correct mechanical form for running it in the selected media is produced, and thereafter a suitable advertising copy for insertion in all the media.
Research is a key function in advertising campaign for the product. The decisions on creativity and media selection are taken on the findings uncovered by research. Research makes every decision systematic and logical based as it is on facts and figures. The Management should give adequate precaution to this aspect inorder to regulate the market.
Hindustan Thompson Associates Ltd (HTA) has retained its position as the number one Indian advertising agency in 1998-99, even as the advertising industry grew at 17.9 per cent, according to the tenth A&M Agency report.
Marketing of a product is mainly by advertising, medium is a channel of communication, such as newspapers, magazines, radio and television. It is needed a vehicle for carrying the sales message of an advertiser to the large group of prospects and thereby aids in closing the gap between producer at one end and the consumer at the other end. Each medium designs its product to be more and more attractive among its audience, Each medium applies marketing concepts to the designing of the right product, selling it at the right price, distributing is through several outlets and at times, taking the help of right promotional means to increase its circulation or improve the popularity of its programs.
Types of media:-
The media are classified into two categories:
Above the line media: press TV, outdoor, posters, cinema and radio. The recognized agencies get commission from these media.
Below the line media: those who do not give commission to the ad agency. The agency adds a percentage as a handling or profit charge or charges a service fee. It includes direct mail POS, SP, Merchandising, Exhibition and sales literature.
The following are the various categories of media available to a media buyer or an advertiser to place the advertisement regarding the posts vacant, types of goods, etc.
1. Print media
(i) News paper
Daily
Sunday
Weekend
(ii) Magazines
a) Consumer magazines: general interest, special interest magazines like Auto world, Interior India
(b)Business Publications: Industrial publications, institutional publications, etc
(iii) Direct Advertising:
Direct mail,
Catalogues
2. Broadcast Media:
(i) Radio: Vivid Bharati, FM, World space.
(ii) Television: Terrestrial channels like DD and satellite channels like STAR, ZEE TV.
(iii) Narrow- cast media: Video and Cable TV, Cinema, AD films.
3. Outdoor Media:
(a) Transit media
(b) Billboards
(c) Posters
4. Other Media:
(i) Specialty Media: T - Shirts, caps, stickers, badges etc.
(ii)Direct advertising or direct marketing
(iii)Product placement
(iv)Internet
(v) SMS
Market research equips the advertiser with knowledge and data about the consumer, the product and the market. These data are about who the consumers are, what their needs and wants are, what is their buying behavior what are the product qualities; when and where these products are bought, who are the competitors, what is the extent of the competition; and a great deal of other information. These are useful in planning advertising programs, and in selecting the type of media to be employed.
Advertisement testing may be done either before or after the ad has run in the media. The first one is referred to as pre testing, and the other one is referred to as post testing. However, the basic purpose of testing advertisement effectiveness is to avoid costly mistakes, to predict the relative strength of alternative advertising agencies, and to increase their efficiency.
Lidsole has selected all the ways to advertise its product, find a suitable market, select the preferred customers, and make available the required quantity of materials and at the required time and place.
In spite of rapid developments in the tools and materials used, traditional Indian cobblers are still rooted in the ancient style of their ancestors, and use the simplest of hand instruments while footwear pieces.
Besides dealing in natural rubber, Lidsole manufacture and markets a wide variety of products, ranging from footwear to schoolbag, from cycle tyres and tubes to mats and mattresses. Now Lidsole is the largest exporter of footwear.
LISOLE INDIA
COMPANY PROFILE
The most modern footwear manufacturing plant has a processing capacity of 40,00,000 pairs of various types of footwear per year. The products are being exported to UK, USA, Japan and many other countries across the world. Lidsole is also manufacturing some varieties of footwear using the finger joining technology and is available in attractive finishes.
The organization is poised for high level of growth and it is this idea that has propelled it towards adopting the International quality management system.
PRODUCT PROFILE
Product is the fundamental feature, which determines the success or failure of the firm. It is the medium through which the firm attains the objective of customer satisfaction and profit maximization.
The range introduced by Lidsole comprises of elegantly designed, modern footwear fashioned out of eco friendly rubber and other raw materials, Manufactured in technical and financial collaboration with other leading companies. The Lidsole range conforms to International standards in finishing and durability and is crafted from specially treated rubber, leather and other raw materials for extra durability and finish.
The following are the various ranges of products offered by Lidsole.
a. Canvas.
b. Sandals
c. Evalite
d. Sunshine etc
Lidsole Canvas open up unlimited possibilities in designs and processing on pars with the highest standards and unequalled elegance. This canvas footwears are produced by sophisticated process of finger joining and edge gluing, using resigns of polymers.
MAKING IMPRESSIVE STRIDES
Lidsole Canvas footwear division manufactures a range of quality casual footwear
The plant employee sophisticated machinery and has a production capacity of 3.6 million pairs per annum. The product range includes sturdy regulates and comfy ultra-lites. Perfect blend, quality row material and superior manufacturing methods make the Lidsole range second to none. In a short span, Lidsole has made its presence felt in fiercely competitive markets on account of the excellent quality of its products. This division also manufactures school bags, shoe polish, brush, belt, etc in fascinating colours. Lidsole footwear range presently comprises of three leading brands- Lidsole Hawai, Lidsole Rainbow and Lidsole Classic. Lidsole Hawai has durable flexi-strap, soft insoles and Power Grip technology, offering true value for money. Lidsole Rain-bow is a colorful range of ultra-light, casual foot wear with cushioned insoles and extra straps. Lidsole Classic is a top quality Hawai that provides excellent wearing comfort and durability.
MARKETING DEPARTMENT
Marketing is a comprehensive activity and it includes all resources and set of activity necessary to direct and facilitate the flow of goods and services from producer to consumer in the process of distribution. Human efforts, finance and management constitute the primary resources in marketing.
Marketing is a total system of business and ongoing process of discovering and translating consumer needs and desires into products and services, creating the demand for those products and services, and expanding the market even in the face of keen competition.
Definition
The American Marketing Association (AMA) defines Marketing as; the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchanges that satisfied individual and organizational objectives. Marketing aims at customer satisfaction and delivers standard of living to the society. Marketing function of Lidsole is undertaken by Lidsole’s sole marketing company; LIDSOLE SALES INTERNATIONAL LTD. It has wide marketing network all over world.
Channels of Distribution:-
Channel of Distribution simply means the set of marketing intermediaries through which the goods flow from the producer to the consumer. In short it is the outlet to let out the goods to final consumers.
In field of marketing, Channel of Distribution means the path or network through which the products are made available to the consumers, thus providing time and place utility. The channels of distribution of the company are distributed through exclusive dealers.
Line and Staff Organisation Structure.
Line and staff organisation refers to a pattern in which staff specialists advise line managers to perform their duties. When the work of an executive increases, its performance requires the services of specialties which he himself cannot provide because of his limited capabilities on these fronts. Such advise is provided to line managers by staff personal who are generally specialist in their fields. The staff positions or departments are purely advisory nature. They have the right to recommend, but have no authority to enforce their preference on other departments.
In actual practice sometimes it is difficult to determine which departments are line or staff. The problem can usually be solved by classifying activities within an organisation. The departments performing substantive (direct) in its contribution to the organisations overall objectives are line one and the those performing objective(Indirect) of activities are staffs ones.
Market segmentation
A market consists of buyers, they are large in numbers, they are widely scattered, they differ in their wants, purchasing power buying attitudes, buying practices etc. Therefore, it is desirable to group the buyers on the basis of location, income, age, education, sex etc. So as to enhance satisfaction to consumers and profit to the markets. This grouping of buyers is called Market Segmentation.
In other words, Market Segmentation means divisions of markets of certain products or services.
At the primary level the unit geographically divided segments into two area; i.e., Home Segment and Outside India Segment. Home Segment consisting of inside India and Outside India Segment consisting the all states all foreign countries.
Urban division
Urban Wholesale Division consist of 25 depots selling over 15.0 Million pairs across the country through 150 distributors and over 20,000 dealers. The focus is on selling volume products catering to complete family needs.
Wholesaler
Shoe trader who buys merchandise to resell to dealers (multibrand outlets) located in street markets of major cities / towns and rural areas. They keep inventory of lidsole products for replacement and sell on credit or cash basis. Their focus is on volume products like basic closed shoes, sandals/chappals, school shoes, Canvas shoes, Hawai, Sandak and Batalite.
Departments in Lidsole India
1. Production Department
2. Quality Department
3. Marketing Department
4. Finance Department
5. Sales and shipping Department
6. Maintenance Department
7. Purchase Department
8. Personnel and administration Department.
Dealers
Multibrand outlets located in major cities selling lidsole products also. Products consist of medium to high priced shoes for the whole family. These shops deal in regional brands and unbranded footwear from small manufacturers also. Some of the dealer stores are located in high streets and are also air-conditioned.
ADVERTISING
Advertising covers various types of activities connected with the giving of publicity regarding goods and services. Advertising is a non-personal presentation and promotion of ideas, goods or services by an identified sponsor. It is impersonal promotion in which a standard message is transmitted to a large audience.
Advertising of Lidsole products are made directly through Hoarding, Press Media and Visual Media, internet.
EXPORT
Lidsole products are being exported to UK, USA, JAPAN, IRELAND, SAUDI ARABIA and all other African countries and many other countries across the globe.
BRANDING
The word brand is a comprehensive term, which includes name, symbol, mark, design or a combination of them which is intended to identify goods or services of one seller or group of sellers and differentiate them from competitors.
TRANSPORTATION
To collect raw materials from factories and to distribute finished products in far away places; one has to depend upon transport. Sales and shipping department undertakes the transportation function of the company.
Dispatch procedure
Dispatch is done according to the order. The dispatch is by way of parcels, shipping, and also by airways based on the orders. However more dispatch is by way of shipping to various destinations and the domestic orders are met by parcels service.
RESEARCH METHODOLOGY:-
Research design is the basic framework, which provides guidelines for the research process. It provides the incomparable skeleton system for the research process. It was more of descriptive study than an exploratory one. Descriptive study helps in obtaining needed information required for this study. The required data collected from a sample of a population of interest. Another aspect that forms a part of research process is the sample and model design. When the marketing researcher has to decide to carry out a field survey, he has to decide whether it is to be a census or sample survey. In almost all cases, a sample survey is undertaken on account of its overwhelming advantage over a census survey .The researcher has to select a specific type of sample design from a number of sample designs.
Data collection
Data constitute formulation of research. Hence the first step was to obtain the data. The study was conducted all the states of India and some regions in abroad. A pilot survey was conducted to know about the market and based on the main survey was conducted. The primary data was collected through structured schedules .The secondary data has been collected from company records. Discussing with respondents has collected some addition information
Research Design
Research design is the plan, structure, and strategy of investigation achieved so as to obtain answers to research question and to control variance. Design consist of three important terms- plan, structure and strategy. Different types research designs have emerged on account of the different perspective from which a research study can be viewed. Descriptive research design is used in this study. Since the study describes the state of affaires as it exists at present. Descriptive research includes survey and fact-finding enquiries of different kind. In this study the researcher is analyzing the effectiveness of the present advertisement campaign of Lidsole descriptive research design selected for this particular study.
Sampling Method
Stratified sampling method was used to select the 100 respondents from the India and abroad.
Sampling Design
The sample design for the study conducted was probability sampling
Population
The population for the study comprises of consumers and dealers of India and abroad.
Sampling unit
Sampling unit for the study are customers characterized into male and female
Sample size
Sample size consists of 100 customers and 20 retailers. 50 customers and 10 retailers were selected from India and abroad respectively.
Materials used for production
A wide range of materials and combinations are used to produce footwear nowadays. Leather, rubber, synthetic materials and fabrics are all mainly used for the uppers.
Each material has its own specific features, not only in appearance but also in properties, performance and treatment. The type of material used has an important influence on how long the item lasts and, often, dictates the recommended use.
However, the natural material that is most widely used for footwear is LEATHER. Leather breathes, it is soft, it has good impact resistance, it adapts perfectly to your feet. There are various main types:
• Smooth leather – has a soft surface with tiny pores, it can be shiny or matt.
• Drummed leather – has a very soft and lined surface.
• Patent leather – has a very smooth and shiny surface; it is easily damaged, due to chemical substances, to frost.
• Nubuck – is similar to suede and is easily marked even if you touch it lightly with your fingers, but they brush off easily.
• Leather – a type used for the soles on formal footwear.
• Crust – a section of the skin, under the surface.
In India, synthetic materials and fabrics are used for the uppers and insole or lining of a shoe.
2 most frequent used synthetic material used besides textile:
PVC
Polyvinyl chloride is flexible material that is chemically non-reactive. PVC accepts paints and performs well under most silk-screening processes have high strength. It's weather resistance, and odorless.
PU
Polyurethane is a flexible and soft material that sometimes looks like leather. Very light but does not have a long lasting shelve life. Will tends to bio-degrade itself after 2-3 years into small molecular powder.
WHAT WE OFFER AT LIDSOLE
At Lidsole, we build business leaders who create value, who believe that the future belongs to those who are able to create it. We value integrity, creativity, passion, a 'Will-do' attitude and the will to succeed above all else. Together, these empower our people to take risks, to experiment, to set their own goals and win in the market place.
In turn, we encourage those who are eager to take the initiative to continuously learn and experiment. This attitude helps us remain contemporary and relevant at all times. We believe that the most enduring way to retain talent is to enable our people to continuously add value to them.
The main objective of our training is that of “Supporting, Developing and Strengthening our sales nature.
2Recruitment procedures start from where the demand for the employees arises. To know the requirement the following procedures are followed.
I) Analyzing the corporate and unit level strategies: -
Human Resource planning should start with analyzing corporate level and unit level strategies. These strategies include expansion, diversification, mergers, acquisitions, reduction in operations, low cost and differentiation, implementation. Strategic implementation requires the production implementation, technological implementation, marketing implementation and human resources implementation.

II) Demand Forecasting of the overall human resource requirements: -
The existing job design and analysis may thoroughly be reviewed keeping in view the future capabilities, knowledge and skills of present employees. The jobs should be redesigned and reanalyzed keeping in view the organizations and unit wise plans and programs, future work quantum, future activity or task analysis, future skills, values, knowledge and capabilities of present employees and prospective employees. One of the important aspects of demand forecasting is the forecasting of the quality of human resources (skill, knowledge, values etc.,)
Methods of Forecasting: -
The forecasting methods of the requirement of the man power are as follows:-
a) Managerial judgment: -
Managers decide the number of employees required for future operation based on their past experience.
b) Statistical techniques: -
The statistical techniques include ratio analysis and econometric models. Under ratio trend analysis, ratios are calculated for the past date and these ratios are used for the estimation of the future human resource requirements.
Examples for statistical techniques are as follows,
• Present level of production (1-1-2004) - 2000 Units
• Present number of foremen (1-1-2006) - 4
• Ratio is 2000 : 4 - 500
• Estimated production as on (1-1-2008) - 5000 Units.
• Foreman required as on (1-1-2008) -5000
Important objectives of Human Resource Planning are –
1. To recruit and retain the human resource of required quantity and quality and to avoid the unnecessary postings and filling of unnecessary post.
2. To foresee the employee turn over and make the arrangements for minimizing turn over and filling up of consequent vacancies.
3. To meet the needs of the programs of expansion, diversification etc.
4. To foresee the impact of technology on work, existing employees and future human resource requirements.
5. To improve the standards, skill, knowledge, ability, discipline etc.
6. To assess the surplus or shortage of human resource and take measures accordingly.
7. To maintain congenial industrial relations by maintaining optimum level and structure of human resources.
8. To minimize the imbalances caused due to non-availability of human resources of the right kind, right number in right time and right place.
9. To make the best use of the human resources.
10. To estimate the cost of human resources.
RECRUITMENT:-
The recruitment and selection is one of the important areas of personal administration. An enterprise after knowing its manpower requirements on the basis of job description and job specifications takes the steps to recruit personnel. Recruitment forms the first stage in the process, which continues with selection and ceases with the placement of the candidate. It is the process of identifying the prospective employees, stimulating and encouraging them to apply for a particular job or jobs in an organization. It is a positive action as it involves inviting people to apply. The purpose is to have an inventory of eligible persons from amongst whom proper selection of the most suitable person can be made.

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What are the supportive arguments you will raise favoring capitalist economy?

2011-08-18T22:02:00.001+05:30

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The present age of LPG- Liberalization, Privatization and Globalization- the existence of the capitalism is very significant. In my opinion capitalism will accelerate the development of an economy. We, ourselves are the example of enjoying the fruits of privatization of our country via new economic policy-LPG. From 1991-92 after the economic reforms our economy lifted by the merits of capitalization / privatization of public owned or state owned undertaking. The GDP, rage of inflation wholesale and consumer price index, foreign capital investment, foreign trade etc. will shows the effect of capitalism.

Capitalism is the very simple form of economic organization where the Government does not play any significant role. The responsibility of maintaining and running the organization lies mainly with the private entrepreneurs. The basic central economics problems – what, how, and for whom (Prof.Samuel)- are handled by the private entrepreneurs.

The entrepreneurs are guided by their own self interest. The Govt. does not interfere with their activity. The Got can not direct them to produce or not produce anything. They are not required to get any licenses, permits etc. They can produce anything; they can sell this commodity at a time and a place of their own choice etc. As the economy is based on free private enterprise and Govt. does not interfere, this type of system is also known as ‘market economy’ or market system or ‘laissez faire system’.

In short a capitalist economy or free enterprise economy is one which the means of production viz., land, labour and capital are owned and managed privately. In capitalism the above phrase “what, how and for whom ” is lead by the private sector. That is the Govt. has no power to interfere at every stage of the following three questions.

1. What goods and what varieties should be produced, and in what quantities should they be produced.
2. How should they produce?
3. For whom are these goods and services produced or who will consume them?
India is a mixed economy, where consists the features of capitalism and socialism. As a mixed economy, India gives importance to the merits of capitalism.

The following merits of capitalism are very important to the development of a country.
1. Large scale production and newer and finer varieties of goods.
2. Increased productivity.
3. High standard of living
4. Automatic working – without no interference or direction from the top.
5. Maximum satisfaction to consumers.
6. Proper utilization of resources.
7. Protection of fundamental rights like right to property, transaction of property etc.
8. Reward according to the ability of entrepreneurs and workers.
9. Helps to change- flexibility to accept any favorable change in economy.
10. Encourage economic development.

To know deeply about the merits of capital of economy, we should know the characters of it. The following are the main nature of a capitalist economy.

1.The Right to Private Property
It means that the society provided the owner with the right to acquire, to keep, to use exclusively and to dispose valuable things at one likes. In this system one can purchase the asset as his private property. And he can keep it, use it exclusively and dispose it of as and when he likes. Subject to the general restriction and regulation imposed by the state, the owners of the property are free to utilize them in any way they deem fit. Here the private property is a legal right, this is protected by the law of land. The chief merits of private property are the pride and pleasure of ownership and consequently personal interest in the property, initiative to put it to the best use etc. It is correctly said “The magic of property turns even, sand into gold”.
2.The Right to Inheritance:
It means the transfer of property of person to his heirs after this person’s death. Each ext generation inherits the property from the out going generation, and the family continuous to be identified with that property. The right of inheritance is and essential condition for the existence of private property and accumulation of wealth by private individuals.

3.The Right of Free Enterprise:
In a capitalist economy, the Govt. allows freedom of action to all the economic units. A consumer is free to spend his income on whatever goods and services. He chooses to buy and consume. A producer may make his living when, where and in whatever he desires. He may use his energies alone or combine them with others in a partnership, a company or some other type of economic organization.
The capitalism enjoys a number of economic freedoms. Free choice of consumption determines the nature and volume of goods and services which should be produced. The economy produces goods and services to satisfy the wishes and preferences of the consumers. Thus freedom of choice of consumers and freedom of production are basic to capitalist economy.
Any individual is free to start any business he likes or exploit any new invention or process he can secure. Freedom of enterprises also implies that a person is free to invest his savings in what ever industry he choose or in what ever forms he wants to keep it.

4.Competition:
One of the main character of free enterprise is the existence of perfect competition. The competition means rivalry between the participants in the market. The greater the number of participants, ie., the buyers and sellers , the more intense will be the competition. Since free enterprise is allowed, competition is generally hard and intense. Here the competition exists among seller or producers of similar consumer goods to attract consumers, among buyers to obtain goods to satisfy their wants, among workers to get job, among employers to get investment funds, among savers to seek channel for investment of their savings, competition plays of vital role. Competition must be maintained if exploitation is to be avoided and prices to be maintained at cost levels. Competition is necessary to keep individual initiative which makes for maximum efficiency. The production and sales at a lowest cost should be done only through competition.

The competition serve as regulator and reducer of prices as an incentive to improved productive efficiency, as a guarantee that we shall get what we want and as a protector of freedom of production.

The competition compels every producer to be efficient and economic. Thus a constant and continuous effort made to maximize efficiency in production.

5.Profit Motive:
Free enterprise and competition are made possible by the existence of the profit motive. The entrepreneurs are free to change any price; they would normally be expected to fix such prices as would yield them maximum profits. But at the same time if in the production of some particular commodity the profit margin is large, new entrepreneurs will be encouraged to produce this commodity, ie., competition will increase. All the entrepreneurs get redy to assume risks because they are attempted by the lure of profits. The profit motive encourages productive activity, enterprises and risk taking. It determines the character of business and economic activity, for resources will continuously shift from less profitable uses.

6.Price Mechanism: In this system all the goods and services carry price tags with them. It consumers find that goods are priced too high, they may not purchase them, and if they find that the goods are priced low they may be tempted to purchase larger quantities. Similarly demand for those factor- Services will be less whose prices are less. In this way a whole system of prices prevails in which hundreds and thousands of goods and services are sold and purchased. Price mechanism refers to the process by which the price is determined through the interaction of the forces of demand and supply. In a capitalist economy, consumer is the king. He express his choice of goods through the price, he is willing to pay for goods.

7.The Role of Government: In this system, the Government can not intervene in the economic actions of the individuals; consumer, producers and investors are free to take their own decisions and act accordingly. The Government only ensures stability and sees to it that no outside force influences the economic organization. The Government will interfere only at the time of national emergencies like war or business depression.

From the above we can sum up the MERITS OF CAPITALIST ECONOMY as follows.

I. The system is characterized by flexibility and adaptability. The system has always adopted itself rapidly to the changed environment.

II. In this system the market mechanism works as a decentralizing force against the concentration of economic power. Economic power gets concentrated when individuals or groups of individuals acquire monopoly control over some lines of production. Market mechanism assumes that all those avenues of production that assure profits will attract new entrepreneur and thus prevent the concentration of economic power.

III. The countries that have been practicing this system have recorded stupendous increases in per capita income and standard of living. This I indicative of the growth potentials of the system.

IV. In capitalism, a variety of new consumer goods are developed and advanced to the stage of large-scale production.

V. Private enterprise has brought forth enterprising ability and energy. The lure of profit always creates and supports new entrepreneurial ability.

VI. Individual liberty, economic and otherwise enjoyed by the people in the capitalist economies is unparalleled in the world and is the secret of its success.

VII. The dynamic process at work within this system revolutionizes the economic structure from within, destroying the old one and creating a new one. This is what has been known as the process of creative destruction.

VIII. Full utilization of the productive services has been made in the capitalist economies due to technological progress.

To sum up, a capitalistic system with its emphasis on private enterprise encourages better utilization of available human and natural resources and there by leads to a faster rate of economic growth. Even it has some demerits; I will prefer capitalism as a means to development of modern economy, which already favors Liberalization, Privatization, and Globalization.

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Business English

2009-12-31T10:41:00.001+05:30

Elaborate the points that are needed for effective formatting of business letter?

GM of Production unit : avoid faliure in strategy

2009-12-31T10:40:00.003+05:30

Which are the precautions you will take to avoid failures in strategies if you are the general manager of a production unit?

Business Law

2009-12-31T10:39:00.002+05:30

What is Memorandum of Association? How will you make alteration in Memorandum?

Finance Management: financial forecasting

2009-12-31T10:36:00.001+05:30

Being the Finance Manager of a company how will you make a financial forecasting?

Manager planning Organizational activities

2009-12-31T10:34:00.001+05:30

As the manager of a reputed company how will you plan the various activities in your organization?

Marketing Manager of Zideo International

2009-12-31T10:33:00.001+05:30

Imagine that you are the , manufacturing leather goods, which are the steps you will take to promote sales?

MIS

2009-12-31T10:32:00.007+05:30

Suppose you are the Chief Manager in a distrubution firm. How will you implement MIS in the organization?

........Management Information System is an organized approach to gathering data from inside and outside the company and processing it by computer to produce current, accurate, and informative reports for decision makers. It is a system that provides management with needed information on a regular basis.A management information system (MIS) is a subset of the overall internal controls of a business covering the application of people, documents, technologies, and procedures by management accountants to solve business problems such as costing a product, service or a business-wide strategy. Management information systems are distinct from regular information systems in that they are used to analyze other information systems applied in operational activities in the organization.
In today’s world of ever increasing complexities, every organization, in order to survive and grow, must have a properly planned, analysed, designed and maintained MIS- Management Information System. So that it provides timely, reliable and useful information to enable the management to take speedy and rational decisions....... click here to get the full and new version of answer