Final of Vinyas Innovative Technologies Pvt Ltd

VINYAS INNOVATIVE TECHNOLOGIES PVT LTD,

MYSORE-570018.

Business Familiarization Report submitted to the B N Bahadur

Institute of management science fulfillment of the requirements

of III semester MBA degree examinations 2013

Submitted By:

CHANDAN.N Reg no: (12MB0018)

DAKSHITH.M Reg no: (12MB0022)

DEEPAK.M.A Reg no: (12MB0026)

DEVARAJA.P Reg no: (12MB0028)

DHARMARAJ.T.H Reg no: (12MB0029)

Guide

Prof B.SHIVARAJ

DECLARATION

We hereby declare that this Business familiarization report at “VINYAS INNOVATIVE

TECHNOLOGIES PVT LTD” has been complied and prepared by us under the

guidance of B. SHIVARAJ, BIMS, Mysore submitted towards the partial fulfillment of

the requirements of III semester MBA degree examination.

CHANDAN.N (12MB0018)

DAKSHITH.M (12MB0022)

DEEPAK.M.A (12MB0026)

DEVARAJA.P (12MB0028)

DHARMARAJ.T.H (12MB0029)

(Prof. B. SHIVARAJ)

BIMS

MYSORE

ACKNOWLEDGEMENT

This report has been successfully completed and made possible due to the cooperation,

assistance and suggestion of many people whom we would like to express our sincere

gratitude to.

We would like to take this opportunity to express our profound and sincere gratitude to

our Project Guide Prof .B. SHIVARAJ, B.N. Bahadur Institute of Management

Sciences, Mysore for his valuable guidance throughout the report.

We sincerely thank Mr. B. JAGADISH BAHADUR, Placement Officer, B.N. Bahadur

Institute of Management Sciences, Mysore for extending his permission to work on our

business familiarization report at VINYAS INNOVATIVE TECHNOLOGIES PVT LTD.

We would like to thank our beloved and respected Prof AISHA .M. SHERIFF ,

chairman , B N Bahadur Institute of Management sciences, university of Mysore ,

manasagangotri, Mysore who paved the way for the completion of this report.

We are immensely thankful to the HR Mr. YASHWANTH company guide of

VINYAS INNOVATIVE TECHNOLOGIES PVT LTD, for valuable time by providing

us with necessary information and guiding us regarding the various aspects of subject as

well as the company.

CONTENTS

SL. No. TITLE Page No.

1 Introduction 5

2 Industry overview 7

3 Company overview 12

4 Organization structure 17

5 Production 31

6 Human Resource 39

7 Marketing 43

8 Finance 45

9 Learning experience 4810 Bibliography 49

CHAPTER-1

INTRODUCTION

The aim of every economic activity is to satisfy human needs & wants.

These needs and wants are satisfied through goods & services. A company must produce

a combination of goods & services. A company must produce a combination of goods &

services that result in maximum customer’s satisfaction. Today apart from tangible

products company are providing a blend of services to attract & retain customers. Today

services are used as strategic weapons to score over competitors.

OBJECTIVES: To gain the practical knowledge regarding subjects

To analyze the overall activities of company

SCOPE: The study was restricted to Mysore city only

The study makes an attempt to understand the overall activities of vinyas

This report is intended to be informational in nature, to provide a better

understanding about each functional area of Vinyas

METHODOLOGY:

In order to prepare a report, data is essential. The required data can be obtained

from primary data & secondary data. Methodology states how the required information is

obtained from primary data & secondary data. Both primary & secondary data are

sourced in completing the project.

Primary Data:

Required data was obtained through personal discussion with Mr. YASHWANTH

the executive at Vinyas regarding customer perception of services & activities o

functional area.

Secondary Data:

Required data was gathered from various books. It was obtained through internal

information Vinyas & through internet websites such as

www.vinyasit.com

www.google.com

LIMITATION OF REPORT:

The study was restricted to few days & Mysore city only

This study is purely for academic purpose with no experience in the field

This data used for research pertains to twenty days only

CHAPTER 2

http://www.google.com/

http://www.vinyasit.com/

INDUSTRIAL OVERVIEW

Electronic manufacturing services (EMS) is a term used for companies that design,

test, manufacture, distribute, and provide return/repair services for electronic

components and assemblies for original equipment manufacturers (OEMs). The concept

is also referred to as electronic contract manufacturing (ECM)

Indian and Global Scenario

Electronic Manufacturing Services (EMS) in India started growing from the mid 60’s

with an orientation towards space and defense technologies. This was rigidly controlled

and initiated by the government. This was followed by developments in consumer

electronics mainly with transistor radios, Black & White TV, Calculators and other audio

products Color Televisions soon followed.

In 1991 the country saw economic crises for the first time which was triggered by the

Gulf War followed by political and economic uncertainties within the country. Pressure

on the electronics industry remained though growth and developments have continued

with digitalization in all sectors, and more recently the trend towards convergence of

technologies.

After the software boom in mid 1990s India's focus shifted to software. While the

hardware sector was treated with indifference by successive governments. Moreover the

steep fall in custom tariffs made the hardware sector suddenly vulnerable to international

competition. In 1997 the ITA agreement was signed at the WTO where India committed

itself to total elimination of all customs duties on IT hardware by 2005. In the subsequent

years, a number of companies turned sick and had to be closed down. At the same time

companies like Moser Baer, Samtel Color, Celetronix etc. have made a mark globally.

India is also an exporter of a vast range of electronic components and products for the

following segments –

Display technologies

Entertainment electronics

Optical Storage devices

Passive components

Electromechanical components

Telecom equipment

Transmission &Signaling equipment

Semiconductor designing

Electronic Manufacturing Services (EMS)

These are the statistics of the electronic industries in the year 2011

Factors Governing the Growth of this Industry

The key factors governing the growth of electrical and electronics industries are as

follows:

Rising and continuous investments in research and development has led to increased

productivity and higher-value added electrical and electronics products. Increased foreign

investments have resulted in the accelerated growth in terms of electronics production and

exports. Foreign companies are now making huge investments and are installing

extensive production capacities in developing countries. Extends support to several global

industries namely medical, telecommunications, industrial and automotive sectors. Rising

incomes and living standards have resulted in the increase in demand of electronics

especially consumer electronics products in the world. This industry is highly fragmented

which comprises of many small and medium size enterprises.

Asia Pacific region is emerging as the most spinning place for the consumer electronics

industry, as the markets remain still unbranched. Rapid pace of innovation in electronics

technology is resulting in a consistent demand for newer and faster products and

applications.

Future Outlook

The worldwide electrical and electronics industry is experiencing phenomenal and

remarkable changes these days. The worldwide electronics industry is distinguished by

fast technological advances and has grown rapidly than most other industries over the

past 30 years. Voluminous production is slowly and gradually moving towards low cost

destinations, which in turn are the markets which offer the most long term potential. In

today's age of competition, electronic and electrical products manufacturing companies

are under constant pressure to develop new and innovative products in shorter time

cycles, at reduced cost, and with improved quality. The global electronics industry is

driven by demand for the products, which are durable, lighter, cheaper, and better than the

ones, they replace. To meet up the growing market demands, industry is slowly and

gradually shifting its base to Asia Pacific countries, which is now the prominent source of

electronic components and is soon going to turn out to be the primary destination for

consumer electronics. There is an estimation that within 20 years, two third of the

electronics industry will be four times as big as today and half of it will move into Asia.

Foreign collaborations and mergers are on a rise. A new wave of industrialization is

throwing up several business opportunities for electrical and electronics market to further

its market. There is a vast growth in the sales of computers, software and networking

products. Younger generation is increasing becoming tech savvy and spending huge

amount of money on digital products such as MP3 players, DVD players, CD players,

mobile phones, speakers, headphones, shuffle, nano etc. Recent trends show that an

increasing number of engineering and design activities are also being outsourced to EMS

companies and they are becoming ODMs (Original Design manufacturers) and also

provide final system integration and logistical support. With India's strengths in electronic

design, this is a favorable trend for us.

Current Scenario :

2012 was an interesting year, with both exciting and worrying events for the Electronics

Industry in India. While on the one hand the global economic climate was volatile and

caused some slowdown in the country's economic growth, on the other the National

Policy on Electronics promised far-reaching consequences for the Indian Electronics

industry. The Policy aims at addressing the huge gap which is estimated at Rs.15.31 lakh

crore ($300 billion) between locally manufactured electronics and the consumer demand

for electronics that we expect to see by 2020.

If immediate steps are not taken to address this gap, it is forecasted that by 2020, electronics

imports may far exceed oil imports. Diverse areas such as manufacturing, R&D, IP creation,

manpower and training, standards, e-waste management, investments, and the setting up of a

National Electronics Mission are the immediate requirements for a growth in the Indian

Electronics scenario.

http://www.b2bfreezone.com/kk-nano/

http://www.b2bfreezone.com/kk-shuffle/

Chapter 3

COMPANY OVERVIEW

VINYAS INNOVATIVE TECHNOLOGIES PVT. LTD

Customer satisfaction is Our Designature

An ISO 9000 – 2008 Certified Company

Vinyas Innovative Technologies Pvt.., was founded in the year 2001 as a start up

company. In a short span of nine years the organization

has grown to a USD 6 million company with

a team size of 600 people and aims to reach

Revenue of USD 12 million for the current fiscal.

Vinyas has invented the cutting edge technology

to address the needs of wide spectrum of the

EMS requirements. As an Electronics Manufacturing

Services Company, Vinyas services large OE customers with entire spectrum of

manufacturing facilities and the trained human resources. Starting with through-hole

assembly to the complex and miniaturized SMT assemblies are handled by the dedicated

teams assigned to each line of specialization.

Over the period of time, Vinyas has developed the expertise to move from PWB assembly

to “Box Build” by continuously moving up the value chain by its constant efforts,

investments in technology and by evolving human resources.

At vinyas, both customers and its human resources are considered as the two pillars of the

success and the progress made. This has resulted in long term and mature relationship

with customers and strong bonding with the team members.

CAPABILITIES

Vinyas works with its customer’s right from the drawing board stage. Hence, we

participate in the development of products from prototype to alpha-beta stages to

production phase. This approach necessitates that we have the dedicated lines to address

the specifies of each of these phases of development and production.

At Vinyas Innovative Technologies Pvt. Ltd., we have set up dedicated lines for:

Prototype building

Medium volume production

High volume production

Each of the above phases of production is a group by itself in terms of technology,

processes and skill sets. Hence, we have deployed the right size machines with

appropriate technology and deployed the trained human resources at each of these lines

separately.

Engineering & Sourcing

To complement the Electronics Manufacturing Services, we at Vinyas have consistently

worked hard to develop and build skills and expertise in engineering and sourcing. This

approach has helped to deliver our services faster and economically.

Currently we have strong, dedicated teams in Vinyas to address the need of engineering

and sourcing. This has helped us to deliver enhanced value of our customers in terms of

design improvements and right sourcing. Thus the approached has helped Vinyas to move

up the chain as well recognized partner for the “Box Build”.

We have developed specialized skills in the following areas of Engineering:

Product development

Mechanical Engineering

DFM/DFT/DRC

Procurement Engineering

Special Processes

Quality

Quality of services is integrated with quality of human resources.

At Vinyas we firmly believe that quality of human resource deliver the quality of

products and services to our customers. We consciously and continuously put in efforts to

train our human resource to achieve higher levels of performance and to acquire higher

grades of technical skills.

The results of this approach have helped us to get accredited with ISO 9001:2008 version

and ISO TS 16949. We are in the process of getting our processes assessed for ISO

14001.

We do integrate our Quality Systems with the systems of our customers wherever we are

specially requested for.

Our exposure to Defence Industry has helped us to understand and implement MIL

Standards and MIL Grade Processes.

OBJECTIVES

The main objective of Vinyas is to continuously excel in the field of Electronic Manufacturing by providing world class services and possessing world class facilities.

In order to meet its objectives, VINYAS has initiated measures which are internationally accepted.

COMPANY

Name of the Company : Vinyas Innovative Technologies Pvt Ltd

Year of Establishment : 2001

Address : KIADB Plot 200/Z2 In Survey no. 150

Hootagalli

Mysore – 571186

Phone Number : 91821 – 4009500 / 404555

Fax : 91821 – 4282194

Email : [email protected]

Website : www.vinyasit.com

http://www.vinyasit.com/

mailto:[email protected]

Chief Executive : Mr. N. Narendra

Designation of Chief Executive

: Managing Director

Major Activities Manufactures of

: Electronic Hardware

Product / Service Imported : Electronic Components

Product / Service Exported : Electronic Hardware

Export to Countries : USA, Singapore, China, Denmark, Malaysia, U.K & Canada

Number of Employees : 600

ISO Standard : 9001-2008 Certified

ORGANISATION STRUCTURE OF VINYAS

VINYAS TEAM

Vinyas is led by Eminent and Professional team of experts with an overall exposure of

over 35 years to the Electronic Industry, and the team consists of:

N. NARENDRA

As the Managing Director of the company, Mr. Narendra is a post graduate in Electrical

Engineering from the University of Southern California. He has over 14 years of

experience in Electronic manufacturing Industry and has led from the front in establishing

VINYAS as a growing company in the field.

COMPANY INFRASTUCTURE

PROTOTYPING

Floor space of 7,000 sq feet

Manual screen printer

Manual assembly line

Batch reflow over with nitrogenous capabilities

Highly skilled soldering technicians

MEDIUM VOLUME


Separate Line for Lead Free assembly

Fully-Automatic screen printer

Fully automatic My Data Placement machine (40,000 CPH)

5 zone and 3 zone reflow oven

Dual wave soldering machine

HIGH VOLUME – LINE 1


Fully automatic Panasonic screen printer

Panasonic chip shooter (MSH3 with 40000 CPH)

Panasonic fine pitch placer – 8000 CPH

7 zones Koki Reflow oven

Depanelling Jig

HIGH VOLUME – LINE 2

MMCG3 Chip Shooter with 8,000 CPH

MSH3 Chip Shooter with 40,000 CPH

MMCG3 Chip Shooter with 8,000 CPH

MPAV FINE Pitch Placer

11 Zone VITRONICS XPM Reflow Oven

INSPECTION

AOI

BGA Inspection System

X-Ray RTX 113HV

Microscope (IUVC – 20)

TESTING

In-Circuit tester Agilent HP3070 Series II

MDA

Oscilloscope

Environmental Chambers

DMM and other bench test and measurement tools

Burn-in Room facility up to 550C

SOURCING STRENGTHS

Verification of BOM

Drop-in/ alternate parts for non-stocked and obsolete parts

Approval from Customer for suggested parts

Process compatibility & Flow Charts

Equivalent RoHS parts for the projects with RoHS compliance

SOURCING COMMERCIAL

Reduction of Lead time

Negotiation of best prices

Negotiation of payment terms

Confirmation on tax & duty structures and required documents for customs,

Central Excise & Sales Tax Departments

Fund Flow estimation

Delivery mode and logistics

Sourcing

EngineeringSourcing

Commercial & Logistics

Sourcing

CUSTOMERS

Customer List

Customer Name Place

Proton Energy System USA

X Com Electronics Dubai

Diagnosis Ltd UK

AKCP Company Limited Hongkong

Jakarta Ltd UK

Somix Technologies Inc. USA

Bill Yurek USA

ATAL. B.V Netherlands

Telnor Business Solution Norway

MN Service Industries Switzerland

Optex Inc Canada

Carw Forf Tech Newzealand

Crea Tech Sprl Belgium

Net Improvement Consulting Pvt Ltd Australia

World Food Programme Italy

Henric Hertz Strabe Germany

ECAD Technologies Newzealand

Bharath Electronic Ltd Bangalore

Larson & Turbo Ltd. Mysore

G.E. Power Control Bangalore

Texas Instrument Bangalore

ITI Bangalore

Tata Power Control Bangalore

Matrix Pune

GIC Pune

Measurements & Control Pondicherry

Mobile Applications Bangalore

Omni Gate Systems Chennai

Chira Electronics Bangalore

AWARDS & CERTIFICATE

Award Received for Best Supplier 07 – 08

ISO – 9001 – 2008 CERTIFICATE

India has a large market with long term growth potential. There is potential to develop

and manufacture Electronics/IT hardware for the local and global market and gain higher

global share besides meeting the country’s future requirement. So far the industry has

been able to capture only a small share of the global electronics hardware as compared to

other Asian countries. Presently, the Indian Electronic Industry has been witnessing brisk

rate of growth. This sector is attracting considerable investments not only as a vast market

but, also a potential production base by international companies. In manufacturing, the

investments have been provided by the deli censing of the entire electronics industry and

supportive policies.

India started electronics mfg in 1965 with focus on space and defense Technologies,

followed by consumer electronics and telecom

1920 Valves and Vacuum Tubes

1965 Space and Defense

Consumer Electronics

1985 Computer & Telecom exchange

1988 Digital Exchanges

1984-90 Growth phase for electronics

1991 Crisis due to Gulf War and Political instability

1997 ITA – 1 (Under 1WTO) signed – sluggish investments due to

uncertainty about policy under zero import duties

2002-08 Growth of Cellular phones

Zero Duty regimes under ITA-1

Investments in Electronic Design, R & D.

In recent years the electronic industry is growing at a brisk place. It is currently worth $10

Billion but according to estimates has the potential to reach $40 billion by 2010. The

largest segment is the consumer electronics segment. While is largest export is

components.

Why we need EMS Industry in INDIA?

Asian tiger nations like china, Singapore, Malaysia, Taiwan, Thailand etc., have

built the success stories on the foundation of electronics hardware industry.

As software industry can employee only white color labor force, what about the

huge color work force which firms the backbone of the industrial landscape of

India

As we have to grow our own agriculture, similarly we have to build our own

hardware products that are low costs and are designed for the Indian environment

that cater to the needs of the Indian masses.

Recent trends show that an increasing number of engineering and designing activities are

also being outsourced to EMS Company’s ant they are becoming ODMS (original Design

Manufacture) and also provide final system integration and logistical support.

CONSUMER ELECTRONICS

Consumer electronics are electronic equipment intended for everyday use, most often in

entertainment, communications and office productivity radio broadcasting in the early

20th century brought the broadcast receiver. Later products include personal computers,

telephones, MP3 players, digital cameras and recorders using video media such as DVD’s

VCR’s or cam carders, increasingly the product have become based on digital

technologies.

The latest consumer electronics are previewed yearly at the consumer Electronics. Show

in Las Vegas, Neville at which many industry pioneers spek.

TRENDS:-

While consumer electronics continuous in its trend of convergence, combining

elements of many products, consumers face different decisions when purchasing.

Many products include interest connectivity using technologies such as WI-FI,

BLUETOOTH and ETHERNET. Products not traditionally associated with computer use

(such as TV’s or HI-FU equipments) now provide options to connect to the internet or to

a computer using a home network to provide access to digital content.

POTENTIAL AND OPPORTUNITIES OF EMS IN INDIA

Revenue generated by electronics manufacturing service provides its original

design manufacture in India will rise from $774m in 2004 to $2.03 Billion in 2011.

The growth of EMS industries will contribute to India’s overall electronic growth

from 411.5 billion in 2004 to $40 in 2011.

GROWTH DRIVER FOR EMS IS:-

Strong and growing domestic demand for mobile phones, pc’s consumer and

automatic electronics

Increases demand for telecom, infrastructure equipment teledensity to increase

from the present 9% 1000 to 22 by 2011

Rising labours cost in India

More of global EMS in India and their plan for increased investments in India

CLASSIFICATION OF DEPARTMENTS

PRODUCTION

DEPARTMENTS

FINANCEQUALITY POLICY

PRODUCTION

MARKETING

HUMAN

RESOURCE

It plays a very important role in achieving organizational excellence. A number of

organizations worldwide have achieved excellence by effective production management.

It involves understanding of the characteristics of various types of production system,

identification of the different phases of the management process, realizing the potential of

different analytical tools developing the ability to react under various scenario to achieve

consistently excellent business results, maintaining superior quality, higher productivity,

perfect delivery performance, overall customers’ satisfaction & enterprises excellence all

with lower cost.

Type of Product: Vinyas produces customized products that are customer centric in

nature.

Type of Productive System

Volume of production & system are:

A). Batch and Mass production

B). Process & Product system

Productive system is used based on duration of projects. Master Productive

Schedule and Production Planning control depends on projects.

There are four production plants in Vinyas, namely:

A) PLANT 1 B) PLANT 2

C) PLANT 3 D) PLANTS 4

Product Process in PLANT 1

Quality Control

Every 30 minutes quality check will take place in each area by inspections.

PLANT 2

Pick N Place Machine

Check End Process

Assembling Area

Testing Area

Washing Area

Raw Materials

Packing Area

Final Inspection

Scrap Area



Screen Printing Machine

Mechanical Assembling Area

Wave Soldering Area

Hand Soldering Area

Raw Materials

Burn Chamber Testing Area

Packing Area

Final Inspection

Dispatch

PLANT 2 produces large volume products. Based on projects employees are allocated in

various jobs. Job instructions are given to employees in each separate chart to work in an

effective way. And in each functional area there is inspection to check the quality of each

product produced by employees.

Quality Control


PLANT 3




Assembly Area

Testing Area

Burn Chamber Testing Area

Raw Materials

Packing Area

Final Inspection

Dispatch

Scrap Area

PLANT 3 produces medium volume products. Based on projects employees are allocated

in various jobs. Job instructions are given to employees in each separate chart to work in

an effective way. And in each functional area there is inspection to check the quality of

each product produced by employees. These products are exported to foreign countries.

Quality Control

Every 30 minutes quality check will take place in each area by inspections

PLANT 4




Assembling Area

BGA Rework Machine

X-ray Machine

Raw Materials

Testing Area

Counting & Kitting

Final Inspection

Dispatch

Scrap Area

PLANT 4 produces medium volume products. Based on projects employees are allocated

in various jobs. Job instructions are given to employees in each separate chart to work in

an effective way. And in each functional area there is inspection to check the quality of

each product produced by employees. These products are exported to foreign countries.

Raw materials are imported to produce products.

Quality Control


HUMAN RESOURCE

Human Resource is a distinctive approach to the employment management which seeks to

achieve competitive advantages through the strategic deployment of a highly committed

& capable work force using an integrated array to cultural, structural & personal

techniques.

Human Resource refers to the practices & policies we need to carry out the personnel

aspects of management job, specifically, acquiring, training, appraising, rewarding &

providing a safe & fair environment for company’s employees.

FACTOR OF HUMAN RESOURCE MANAGEMENT

WOKING HOURS:

Strategic and operational changes

Corporate planning marketing etc

Society changes & reforms

Political socioeconomic legislation technological

Human Resource Management

HRM

Changes in HR composition of staff distribution of staff over: functions, positions, age distribution, competency, recruitment, departure, redundant

Changes in needs and goals of individual employees in terms of job content, meaning of work, work conditions

In India minimum working hours is 48 hours that is from Monday to Saturday. The

working hrs in vinyas is from 9 am to 5.30 pm.

HR CAPABILITIES

Inspection

Inspectors – 60

Supervisors – 8

Engineer – 01

Manager- 01

Manufacturing

Technicians – 412

Supervisors – 15

Engineers – 03

Manager -02

Sourcing

Manager- 01

Executives - 14

Logistics – 04

Testing

Technicians – 12

Engineers – 03

Manager -01

Administration

Executives – 10

Manager – 02

General Manager – 01

Marketing

Executives – 04

Manager – 01

General Manager - 01

VINYAS POLICIES:

Vinyas have a several policies in different areas. The following policies are:

Recruitment & Selection policy

Performance policy

Compensation policy

Induction policy

Grievance policy

Retrenchment policy

Transfer policy

Succession policy

Health & Safety policy

Disciplinary Code &

Other policy

ESSENTIAL QUALITIES OF THE HR MANAGER

Show empathy

Approachable to employees

Communicative effectively

Flexible in administering policies and in their own work schedules. Policies are

guidelines

HR Managers have two distinct, and often conflicting, roles according for a

consumer products company

Active listen to the employees

Leadership- taking people to a place that they would not normally go to on their

own

Heart of organizational leadership

Providing the right C (challenge, confidence, or coaching) to the employees

Define a vision, articulate values and infuse both every aspect of employee

management

MARKETING

The American Marketing Association offers the following formal definition, “Marketing

is an organizational function & a set of processes for creating, communicating &

delivering value to customers & for managing customer relationship in ways the benefit

of the organization & its stack holders”.

MARKETING CAPABILITIES OF VINYAS

MARKETING MIX:

The role available to a business to gain the reaction it is seeking from its target

market in relation to its marketing objectives.

7Ps- Price, Product, Promotion, Place, People, Process, Physical Environment

Traditional 4P’s extended to encompass growth of service industry.

Manufacturing

Executives – 04

Manager -01

General Manager - 01

THE MARKET

Following the market trends and realizing the importance of

Spreading the pie, the following market segments has been targeted

- Medical electronics – 25%

- Telecommunication – 35%

- Power- 20%

- Others- 20%

Sales

Product Placement

Price Process

Physical Evidence People

Promotion

FINANCE

The term Finance refers to the life blood of the business. Generally, finance is referred to

as the funds used in the business, but it is a flow concept & never it is used as a static

concept. Therefore, finance refers to the movement of funds within and outside the firm.

The importance of finance in the field of management was earlier restricted to certain

occasions like-

A. Expansion of the company B. Mergers & Acquisitions

C. Development & diversification of the company.

MAINTENANCE OF PROPER BOOKS OF ACCOUNTS AND RECORDS

Every company is required to maintain books of account showing all sums received and

expanded by the company, all sales and goods, all assets and liabilities and utilization of

material and labour. The accounts must give a true and fair view of the state of affairs of

the company. Accounts books are required to be preserved for eight years. The annual

accounts, i.e., the balance sheet and the profit and loss account are required to be

presented to the shareholders at the Annual General Meeting (AGM).

Where the profit and loss account and the balance sheet of a company do not comply with

the accounting standards, such companies shall disclose in its profit and loss account and

balance sheet, the following:

1. The deviation from accounting standards,

2. The reasons for such deviation; and

3. The financial effect, if any, arising due to such deviations.

TAX BENEFITS FOR THE ELECTRONIC INDUSTRY

India is today one of the most favourite destinations for research, design and testing.

Now, it is also emerging as the next biggest manufacturing hub in Asia, which will cater

to the rest of the world. Though a bit delayed, the Semiconductor Policy is in place,

which is like a shot in arm for the manufacturing sector.

The Indian government has taken several steps to encourage manufacturing in the

country, though much is still needed to bring the nation on par with its global

counterparts. One of the major benefits that a government can offer to the manufacturers

is tax cuts. This article tries to explore the policies that India has in place for the

electronics industry and the tax benefits for the players in electronics manufacturing

space.

The Department of Information Technology (DIT) is actively engaged in promotion of

electronics hardware manufacturing in the country. It works in close coordination with

various associations of the electronics hardware industry and thus, from time to time takes

various measures to encourage the industry. In addition to offering various other benefits

to the players, the government ----- ensures relief in duties.

“The government is taking steps to bring down the total taxation level on electronic

hardware. In that direction, the general rate of excise duty (CENVAT) has been reduced

from 16 per cent to 14 per cent in the Budget 2008-09 and central sales tax (CST) has

been reduced from 3 per cent to 2 per cent. Excise duty on computers is 12 per cent.

Microprocessors, hard disk drives, floppy disk drives, CD ROM drives, DVD drives,

DVD writers, flash memories and combo drives have been exempted from excise duty.

Parts, components and accessories of mobile handsets including cellular phones are

exempted from excise duty. Value added tax (VAT) on IT products is 4 per cent”.

QUALITY POLICY

Vinyas innovative technologies Pvt. Ltd. is committed to provide total electronic

hardware manufacturing solutions and satisfy the stated and implied needs of customers

both internal and external based on continual improvement. The process of continual

improvement will be enable by human resource development and customer success.

LEARNING AND EXPERIENCE

In this competitive world it is very much important to have experience of working in an

organization and only class room teaching is not enough. Doing this project lot of

learning has occurred. Learning of practical applications of theoretical knowledge by

exposing to company has occurred.

The learning experience is enlisted below.

1) The company is managing good industrial relations wherein good relation

between workers and the superior managers. Is visible in terms of performance in

the company & Industrial peace..

2) The company is well managed with timely business strategies.

3) Based on ratio analysis the financial soundness of the company is measured.

The following are learning experience with respect of the company

We have studied the organization of the company, the strategy adapted by the

company, the organization hierarchy and the way it works.

The company has adopted “The participative leadership style” so it encourages to

its workers to show more interest in managerial activities.

In assembly department, the process is divided into different shops. It has safety

measures at the work place. It has used advanced technology like automated

machine in order to minimize cost . They produce quality product. Main strategic

intention of the department is recycling the wastage. If any wastage comes after

the recycling it is send to other company.

During the adoption of new technology, management provides more training

skills to the workers for the efficient work and the work position.

In order to motivate the employees, the company follows an internal recruitment process

through promotions. If there is any vacant job the company first searches within the

organization and if right employee is not available internally then it goes for external

recruitment.

BIBLIOGRAPHY

Operation Management- Buffa.

Human Resource Management – V.S.P. Rao

Principles & Practices of Management- T.N. Chhabra

Marketing Management- Philip Kloter

Financial Management- Prasanna Chandra

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