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DEFINITION OF RESEARCH METHODOLOGY & DESIGN
Research study will be based on collection of primary data as well as secondary.
Research Methodology is a way to systematically solve the research problem. It may be
understood as a science of studying how research is done scientifically. The study of
research methodology gives the student the necessary training in gathering material and
arranging them.
Research Comprises defining and redefining problems, formulasting hypothesis or
suggested solutions; collecting, organizing and evaluating data; making deductions and
reaching conclusions; and atlast carefully testing the conclusions to determine whether
they fit the formulating hypothesis.
-Clifford Woody
Research is an academic activity and as such the term should be used in
technical sense. Research is the systematic approach concerning, generalization &
formulation of theory.
RESEARCH DESIGN
It is an exploratory research design.
studies are also termed as formulative research studies. The main purpose of
such studies is that of formulating a problem for more precise investigation or of
developing the working hypothesis from an operational point of view. The major
emphasis in such studies is on the discovery of ideas and insights. As such the research
design appropriate for such studies must be flexible enough to provide opportunity for
considering different aspects of a problem under study.
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DATA COLLECTION
The task of data collection begins after are research problem has been defined
and research design/plan chalked out. While deciding about the method of data
collection to be used for the study, the researcher should keeps in mind two types of
data
(a) Primary Data
(b) Secondary Data
Collection of Primary Data
The Primary data are those which are collected afresh and for the first time.
Primary data will be collected by researches by questionnaire, observation, interviewing
the executive engaged in formulating as well as implementation of marketing procedure
and its accounting, for the purpose, technique of satisfied random sample will be used
and a sample of 15 employees will be selected randomly. Moreover the researcher will
also interview the management and executive, looking after the marketing and store
accounting in IL, Kota. in my research I have opted questionnaire method which was
filled by marketing department and procurement division.
The researcher will also make on the spot study by using the observation
technique of data collection.
COLLECTION OF SECONDARY DATA
The secondary data are those which have already been collected by someone
else and which have already been passed through statistical process.
For collecting secondary data the researcher has taken the help of published
report/information of IL Accounts and Balance Sheet, Newspaper, Periodicals Journals
and Magazines etc. related to this study. After collecting the data by primary as well as
secondary sources the researcher has classifed, tabulate and interpret the same by using
the various statistical tools and techniques such as mean, mode, median, standard
deviation, correlation etc.
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TYPE OF SAMPLING
Simple random sampling technique was used.
SAMPLE SIZE
While preparing the project report I will take the response to certain questionnaire from
IL employees. The sample of 15 employees has selected randomly.
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JUSTIFICATION FOR CHOOSING A PARTICULAR TOPIC
STUDY OF MARKETING PROCESS OF INSTRUMENTATION LIMITED
RATIONALE BEHIND THE STUDY
Now a days the impact of globalisation is very vast and it becomes the need of
an hour. It is not possible for a company to survive alone. Globalisation not only
provides a platform for fair competition but open gateway for more and more Research
& Development. In the whole process what ultimately gained are better products at
competitive prices. If we get better products then we can provide our customers better
equipments and can satisfy to them.
This is not only provides scope of betterment and sophistication of techniques
i.e. method of production but broadens the horizon of business.
Marketing is an important aspect of the business. Marketing means to identify
customer needs and then providing them. It is very difficult to move global. Financial
success often depends on marketing ability. Finance operations. Accounting and other
business functions will not really matter if there is not sufficient demand for products
and services so the company can make a profit.
To sell the product in a global market is not an easy task. Marketing managers
must make major decisions such as what features to design into a new product, what
prices to offer customers, where to sell products and how much to spend on advertising.
For this a complete understanding related to marketing and stores is must.
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COMPANY PROFILE
* Vision of the company
* Objectives of the company
* History of the Company
* Organisation Structure
* Board of Directors of I.L.
* Kota Unit
* The Organisation
* Products of Instrumentation Ltd.
* Customers of Instrumentation Ltd.
* Present Status of Instrumentation Ltd.
* .Future of I.L.
* Achievements & Awards.
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Corporate Vision
To become a leading world class Engineering Organization focused on customer
satisfaction in the field of Control Instrumentation; Automation for Core Sector viz.
Power, Steel, Refineries & other Process Industries; Telecommunication; Railway
Signalling, Industrial UPS, Knowledge based systems such as IT & Software and
Services; Electrical Transmission & Distribution; GIS/GPS,SCADA system.
Objective of Instrumentation Ltd.
1. Productivity :
* To ensure optimum utilization of all the facilities in Manufacturing
Division.
* To ensure optimum utilization of facilities created for manufacturing of
Railway Signalling System.
* To realize greater operational efficiency, improved productivity and
higher capacity utilization and generation of internal resources.
2. Business :
* To undertake financial restructuring of the company to be more
competitive.
* To endeavor to achieve reasonable return on investments.
* To further increasing its contribution in the companys value of
production and profitability.
* To maintain 10% annual growth in the turnover of the company
excluding the bought out items.
* To revaluate the corporate plan for higher growth and dividend objective.
3. Customers :
* To achieve and maintain high degree of customer satisfaction with
timely delivery of quality, products and services at competitive rates and
also establish customer feedback system.
4. Employees :
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* To upgrade the quality of human resources and strengthen the technical
and managerial competence for growth.
* To achieve higher levels of safety standards.
* To restructure the manpower by rationalization.
PROFILE OF
INSTRUMENTATION LIMITED
Instrumentation limited is a Govt. of India Enterprise set up in 1964 with the
prime objective of attaining self-reliance in the field of Control & Automationfor the process industry. Today IL is manufacturing & supplying state of the art
control equipments on turnkey basis to the various sectors of the industry viz.
Power, steel, fertilizer, chemical and petrochemical.
Instrumentation limited is headquartered at Kota along with its Commercial
Division specialization in power and steel sectors. The regional & field offices,
at different sites look after the installation work. The marketing division is
based in New Delhi with branch offices in Calcutta, Chennai & Mumbai. IL
has its plants at Kota & Jaipur.
With over 35 years of experience & a dedicated workforce, IL has mastered all
complexities of control systems requirements & can lead right through any
industrial project from system designing, to detailed engineering ,
manufacturing , installation ,final commissioning to after sales service &
customer training. IL is now diversifying in to the field of Telecommunication,
Power Electronics & Railway signaling systems.
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HISTORY OF THE COMPANY
Most of the instruments required for Process Control Industries alongwith main
equipments were being imported in early 1960. Process Control Industries were
growing at rapid rate, so we import the Instruments.
In order to minimize the import to Process Control Instrument and to achieve
self reliance in this vital field a decision was taken by the Government of India to set up
aFactory (Industry) in the Public Sector to manufacture Process Control Instruments
and Allied Items.
Instrumentation Limited is a Govt. of India Enterprise set up in 1964 with the
prime objective of attaining self reliance in the field of control and automation in the
process industry. Today IL is manufacturing and supplying state-of-the-art control
equipment on turnkey basis to various sectors of the industry viz. Power, Steel,
Fertilizer, Chemical, Petrochemical, Refineries, Pharmaceutical, Cement, Paper,
Textile, Space and Oil & Gas Tele-Com, Flownozal valve Uninterrupted Power Supply
(UPS) Mobile Towers etc.
Kota Plant was setup in technical and financial collaboration with USSR and it
commended commercial production in the year 1968. As a part of its continued efforts
for modernization and standards, the company has entered into technical know-how and
assistance agreements within two internationally renowned manufacturers based at
Britain and West Germany of Process Control Instruments.
The second production unit of the company was established in Palakkad formanufacturing of Control Valves and allied items for which technology is provided by a
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leading Japanese Company, viz. Yamatake Honeywell Co. Ltd. the unit commended
production in December 1975 and has significantly contributed to overall growth of the
companys financial results with its well established mechanical shops and other
infrastructure.
KOTA UNIT
This plant is located at Kota-Jhalawar Road Kota-5 (Raj.). It is the birth place of
Instrumentation Ltd.
This production unit was setup in collaboration with M/s Premmash Export
USSR. This plant commenced its sophisticated process control instruments in various
ranges.
The Kota plant cater the need of industrial process control instruments required
by various Thermal Power Station, Electricity Boards, Steel and Chemical Plants,
Chemicals industries, Paper industries and other Heavy Engineering units.
Just from the first year of production the company has been successfully
supplying instrumentation and control equipments and has achieved all time high record
of production, turn over in profit. It has continued to play its vital role in speedy
development of process industries through out the countries in such a brief period and
the company has achieved a leading, reputable and important position not only in India
but in abroad also.
Today, the Corporate R&D center of the company is an independent wing like
other units of the company with its own proto-type development shop, various
laboratories and other amenties, manned by well qualified technical personnel and
headed by Executive Director.
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I.L. has its registered and corporate office at Kota (Raj.). Manufacturing
facilities accredited with ISO 9000 series. Quality System Certification are located at
Kota & Palakkad (Kerala).
PERFORMANCE AT A GLANCE
In the year 2005-06 through sustained efforts of the company for performance
enhancement and with the support of Govt. of India and all other concerned
stakeholders, the company has been successful in achieving a higher turnover of Rs.
21,998/- lacs as compared to previous years turnover of Rs. 17,585/- lacs. The
company has also been successful in recording operating profit of Rs. 1,304.92 lacs for
the year 2005-06 as compared to previous year operating profit of Rs. 1,091.74 lacs.
The net loss for the year 2005-06 was Rs. 2,450.84 lacs as compared to previous year
loss of Rs. 1,697.81 lacs
Instrumentation Limited has been able to maintain its operations despite various
constraints, mainly the shortage of working capital. In recent years despite challenges
the company has been implementing its BIFR approved sanctioned scheme and
displayed resilience to adopt new economic scenario. Since the implementation of this
scheme from 1st April 1999 the business has been upbeat. In fact, the current year i.e.
2001-02 has been better than previous year for the corresponding period. The company
has been able to address the main constraints of high wage bill due to surplus manpower
and high interest cost. Both these factors have been brought down by way of
rationalization of manpower and financial restructuring and repayments to creditors.
The company has been receiving excellent support from the owner, i.e. Government of
India. Further, State Government of Rajasthan has also extended support for raising
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funds through sale of surplus land at Kota complex. With all these achievements that
companys business is growing. In the power sector also the company has secured and
executed some prestigious orders like Santhaldih project of WBSEB, Obra 6 & 7
project of UPRVUN during the year 2000-01 I.L. is finalizing a major order for RoperPower Station of Punjab State Electricity Board. The company is enjoying technical &
business support from business partners. The companys capability could also be
gauged by other business segments, as it has performed well in supply of state-of-art
equipments by way of MAX-XL Telephone Exchanges supplied at over 250 locations
throughout the country. The diversified field of Railway signaling and Defence
Electronics is also yielding good response. The company continues to maintain cutting
edge of competition through adherence to international quality standards, high standards
of customer service in its business strong hold of control Instrumentation and
Telecommunications.
PRESENT STATUS OF INSTRUMENTATION LTD.
IL has incurred additional cash losses because of delay in implementing of
sanctioned revival scheme. Due to acute shortage of working capital the company has
suffered badly in terms of business. The company has, therefore, submitted a proposal
for consideration to the Administrative Ministry. The Administrative Ministry i.e.
Department of Heavy Industry, Ministry of HI & PE, has been kind enough to consider
the proposal for (a) Government Guarantees for rising funds from Banks/Financial
Institutions for reimbursement of additional cash losses (b) reservation of order by 1 for
10% of Annual requirement of BSNL for MAXXL Telephone Exchange with 50%
advance for a period of 3 yours (c) steps for JV formation of holding unit. (d) and for
VRS. The committee of Ministers has recommended the proposal for consideration of
cabinet. The Ministers has recommended the proposal for consideration of cabinet. The
cabinet has also approved this proposal recommended by the committee of Ministers in
the third week of September 2001.
The cabinet approval of the proposal will enable the company to utilize its
manufacturing capacity infrastructure, manpower and get over the working capital
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shortage. Rationalization of manpower will be ensured by funds for VRS.
Reimbursement of additional cash losses will enable the company in bridging the
working capital deficit. JV formation is expected to provide technology, finance and
marketing input to the company for its long terms viability.
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Future of I.L.
The company is posed for better growth in the coming years in view of the
following
* The sanctioned revival envisages liquidation of substantional portion of the
liabilities out of the proceeds as loans from sale of surplus land available with
the company at Kota. The government of Rajasthan through Urban Improvement
Trust, Kota has invited offers and principal approval has been given in the
favour of the highest bidder. The company has achieved the target for manpower
rationalization as per sanctioned scheme. However process of rights sizing of
manpower strength in commensurate with the business potential will be
continued.
* The sanctioned revival scheme is in its third year of implementation. Joint
venture formation of Palakkad unit is at an advance stage. Qualified interested
parties have completed due diligence activity. Integration of Jaipur unit with
Kota unit is also being taken up.
* The company has also undertaken various measures for further improvement in
its working such as reduction in cost, reduction in salary and wages through
right sizing of manpower, closures of unviable sites, sale of land and building
etc. at Sitapur, Jaipur integration of Jaipur unit with Kota and improvement in
working capital management. The company is also pursuing actively the plans
for introduction of new products to ensure optimum utilization of existing
facilities.
* With the implementation of revival package and restructuring business of the
company with assured from BSNL for next few years the company is hopeful of
turn around.
* With recent approval by cabinet for reservation of Telecom order from BSNL
will help the company to improve its net worth and financial position.
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ACHIEVEMENTS & AWARDS
Achievements
An order of over Rs. 300 lacs has been received from Corporation Bank or
supply of UPS products.
Our regular customers have continued their faith and confidence of IL products
by placing orders worth Rs. 436 lacs and Rs. 148 lacs respectively for control values
and other flow elements.
At Palakkad works cryogenic valve testing facility established for testing valves
up to 6 inches size. Valves can be tested up to minus 196 degree centigrades. Also the
developments of new valve bodies with higher CV valve were tested.
The largest rotary electronic control valve 16" made in the country with in house
design capability. This value was supplied to Formosa Plastics, Taiwan.
All the manufacturing facilities at Kota, and Palakkad revalidated for ISO 9000.
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Important Milestones Achieved
1964 - Established with Registered Office at Kota
1965 - C&I Production Commenced
1975 - Control Value Production Commenced
1982 - Special Temp. Sensor (RTD) for Nuclear Plant
1988 - Major Diversification in Telecommunication
1998 - Diversification in Defence Products
2001 - Production of firing device (Defence order)
2002 - Production of large size Telephone Exchanges
2003 - Production of special solenoid values for nuclear application (Defence
order)
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ORGANISATION STRUCTURE
Board of Director
Chairman-cum-Managing Director
Company
Secretary
Procurement ManufacturingFacilities
Business AcquisitionGroup
Marketing
Unit
Customer
Services
CP & ITProjects DDC
Unit
Regional & Site
Offices
Exports
Division
Branch
Offices
Kota Unit Palakkad Unit
SubsidiaryUnitCorporate
F&A
REILCorporate
P&A
Corporate
R&D
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CUSTOMERS OF INSTRUMENTATION LTD.
Customer of Instrumentation Ltd., Kota are in the following sectors
I. Steel Plants
Steel authority of India Limited
(a) Bhilai Steel Plant
(b) Bokaro Steel Plant
(c) Durgapur Steel Plant
(d) Rourkela Steel Plant
(e) Tata Iron and Steel Co., Jamshedpur
II. Paper Industries
(a) Hindustan Paper Corporation Ltd.
(b) Andhra Paper Mills (A.P.)
(c) Mysore Paper Mills
III. Power
(a) National Thermal Power Corporation (NTPC)
(b) Bharat Heavy Electrical Limited (BHEL)
(c) Steel Authority of India Limited (SAIL)
(d) Durgapur Projects Ltd.
IV. Atomic Energy
(a) Nuclear Power Corporation India, Ltd.
(b) Department of Atomic Energy (DAE)
(c) Bhabha Atomic & Research Centre
V. Fertilizers
(a) The Fertilizer Corporation of India Ltd.
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(b) Shriram Fertilizer, Kota
(c) Hindustan Fertilizer Corporation Ltd.
VI. Railway
(a) Western Railway
(b) Central Railway
(c) National Thermal Power Corporation Ltd.
(d) RITES
VII. Defence Products
(a) Defence Laboratory, Jodhpur
(b) ARDE, Pune
(c) DRDL, Hyderabad
(d) Ministry of Defence, New Delhi
VIII. Textile
(a) Grasim Industries
(b) Gwalior Rayon Silk Mfg. Co. Ltd., Nagda
(c) Baroda Rayon Corporation Ltd.
IX. Pharmaceuticals
(a) Indian Drugs & Pharmaceuticals Ltd. Hyderabad, A.P.
(b) Indian Drugs & Pharmaceuticals Ltd., Rishikesh
(c) Hindustan Antibiotics Ltd.
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METHODOLOGY
CONCEPTUAL FRAMEWORK :
INTRODUCTION OF INDUSTRIAL MARKETING
Industrial marketing consists of all activities involved in the marketing of
products and services to organization (i.e., commercial enterprises, profit and not for
profit institution, government agencies and resellers) that use products and services in
the production of consumer or industrial goods and services in the production of
consumer or industrial goods and services and to facilitate the operation of their
enterprises. Viewed from the perspective of Marketing, industrial marketing is, then,
human activity directed towards satisfying wants and needs of organizations through the
exchange process.
Exchange transactions in the industrial market consist of
(a) Products or Services Exchange
(b) Information Exchange
(c) Financial Exchange and
(d) Social Exchange
Product Exchange :
The characteristics of the product or service involved have a significant effect on
the industrial exchange process. The ease of exchange depends upon the ability of the
seller to identity thebuyers need and the products potential to satisfy those needs.
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Information Exchange :
Information Exchange often consists of answering technical, economic and
organisational questions regarding pre and postsale maintenance and servicing. Productsmust be planned and designed to serve customers. To accomplish this, buyers and
sellers tend to work together, exchanging productspecific information over long
period of time.
Financial Exchange :
Financial exchanges may involve such considerations as the granting of credit or
the need to exchange money from one currency into another when dealing with foreign
buyers.
Social Exchange :
Social exchange is important in such areas as reducing uncertainty between
buyer and seller, avoiding short term difficulties, and maintaining the exchange
relationship over a length transaction period. Many aspects of an agreement between
buyers and sellers in the industrial market are not fully formalized or based on legal
criteria until the end of the transaction period. Rather, much of the process of exchange
is based on mutual trust.
Industrial Marketing deals with marketing of specialized industrial products and
is quite different from conventional marketing of FMCG goods.
The main characteristics of industrial marketing are
1. It deals in sale of industrial products.
2. It requires in depth technical knowledge of the product being sold.
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3. In industrial marketing Mass advertisement/vigorous advertising through
electronic and Print Media is not done. Instead, Personal one to one contact with
customer are made.
4. No or very small distribution channels are in this marketing.5. In most of the cases the seller and buyer know each other.
6. The sale is done through the proper marketing process of tender enquiry,
quotation, techno-commercial discussions etc.
Difference in Industrial Marketing V/s Consumer Marketing
Area Industrial Marketing Consumer Marketing
Market
Structure
Geographically concentrated
relatively few buyers
oligopolistic competition
Geographically dispersed Mass
markets monopolistic
competition