0% found this document useful (0 votes)
226 views58 pages

Internship Project (Kunal)

The document provides information about BMW Bird Automotive Pvt Ltd, including: 1) It gives an overview of BMW as a luxury automotive company headquartered in Germany and discusses the Bird Company, an automotive dealership in India that services over 7,000 premium customers, including BMW vehicles. 2) It describes BMW Bird Automotive's focus on customer satisfaction and loyalty, and mentions their sales team, dedicated corporate sales team, and locations. 3) It briefly discusses some of the problems faced by the global automotive industry, such as overcapacity, and the need for product differentiation.

Uploaded by

Mohit Jain
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
0% found this document useful (0 votes)
226 views58 pages

Internship Project (Kunal)

The document provides information about BMW Bird Automotive Pvt Ltd, including: 1) It gives an overview of BMW as a luxury automotive company headquartered in Germany and discusses the Bird Company, an automotive dealership in India that services over 7,000 premium customers, including BMW vehicles. 2) It describes BMW Bird Automotive's focus on customer satisfaction and loyalty, and mentions their sales team, dedicated corporate sales team, and locations. 3) It briefly discusses some of the problems faced by the global automotive industry, such as overcapacity, and the need for product differentiation.

Uploaded by

Mohit Jain
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 58

A PROJECT REPORT ON

(BMW BIRD AUTOMOTIVE PVT. LTD.)

Submitted in the partial fulfillment of the requirement for the award of the
Degree of Bachelor of Business Administration (BBA)

(2017-20)

SUBMITTED BY
KUNAL SHARMA
ERP ID– 0171BBA089

SUBMITTED TO
MS. MINAKSHI SATI
(ASSISTANT PROFESSOR)

BHARATI VIDYAPEETH UNIVERSITY


INSTITUTE OF MANAGEMENT & RESEARCH
An ISO 9001:2008 & 14001:2004 Certified Institute
Re-Accredited with Grade “A” by NAAC
Ranked in Top 50 B-schools in India & Top 5 in Delhi, NCR
By Business India and Hindustan Times
Recipient of B-school leadership award from Star News
A-4, Paschim Vihar, New Delhi, Ph.011-25286442 Fax: 011-25286442
DECLARATION BY THE STUDENT

This is to certify that the Summer Training Project submitted to Bharati Vidyapeeth (Deemed to
be University), Pune in partial fulfillment of the requirement for the award of the degree of BBA
is an original work carried out me under the guidance of MS. MINAKSHI SATI. The matter
embodied in this project is a genuine work to the best of my knowledge and belief and has been
submitted neither to this University nor to any other University for the fulfillment of the
requirement of the course of study.

KUNAL SHARMA
ERP ID – 0171BBA089
ACKNOWLEDGEMENT

I am highly obliged to the faculty member for extending his support in the form of specialized
knowledge and experience throughout the summer training project. I owe a special thanks to MS.
MINAKSHI SATI, my mentor for his time and knowledge. At last I would also like to thank
my family and friends for their help and support in completion of this project.

KUNAL SHARMA

(0171BBA089)
CERTIFICATE BY THE GUIDE

This is to certify that the Summer Training Project is the work done by KUNAL SHARMA
under my guidance and supervision for the degree of Bachelor of Business Administration from
Bharati Vidyapeeth Institute of Research and Management, Pune. To the best of my knowledge
and belief

1. This is original work done by student.


2. The project is completed as per guidelines and has a plagiarism report.
3. Fulfills the requirements of the guidelines relating to the BBA degree of the university.
4. Is up to the standard both in respect of contents and language for referred to the
examiner.

Faculty Name: MS. MINAKSHI SATI


(ASSISTANT PROFESSOR)
CERTIFICATE FROM HEAD OF INSTITUTION

This is to certify that the Summer Training Project is an academic work done by KUNAL
SHARMA, ERP ID – 0171BBA089 submitted in the partial fulfillment of the requirement for
the award of the Degree of BBA from Bharati Vidyapeeth Deemed University, Pune. It has
been completed under the guidance of MS. MINAKSHI SATI (Asst. Professor) and MR.
SHASHI KANT (Technical Mentor). We are thankful to BMW Bird Automotive Pvt. Ltd. for
having allowed our student to undergo project work training. The authenticity of the project
work will be examined by the viva examiner which includes data verification, checking duplicity
of information etc. and it may get rejected due to non-fulfillment of quality standards set by the
Institute.

DR. VIKAS NATH

Director In-charge
CERTIFICATE FROM THE COMPANY

This is to certify that Kunal Sharma son of Bhawani Shanker Sharma pursuing BBA from
Bharati Vidyapeeth (Deemed to Be University) University Institute of Management and
Research, New Delhi has successfully completed 50 or 60 days summer training in our
organization in field of Finance from 6th May 2019 to 26th June 2019. During his project tenure
in the company, we found him hard working, sincere and diligent person, and his behavior and
conduct was good during the project. We wish him/her all the best for his future endeavors.

Name and Designation of the Industry Mentor


PREFACE

As a part of a curriculum of our three years bachelor degree program (BBA) from BVIMR, New
Delhi. The company has provided me project report on current status in FINANCE DEPT. of
“BMW Bird Automotive”. To access information, I have gone through various sites and
department.

The report highlights the image of the “BMW Bird Automotive Group” as a best company in
AUTOMOBILES in the eyes of the dealers, consumers and competitors.
TABLE OF CONTENT

PARTICULAR PAGE NO.

Declaration by Student

Acknowledgement

Certificate from Faculty Guide

Certificate from Head of Institution

Certificate by Company

Chapter-1:INTRODUCTION

Chapter-2:JOB DESCRIPTION

Chapter-3:ANALYSIS OF JOB DONE

Chapter-4:LEARNING OUTCOMES

Chapter-5:SUGGESTIONS (For HR,IT,etc)

References

Appendix A: (Plagiarism Report, Online Feedback by Mentor, Attendance Sheet)

Appendix B: (Joining Report, Company Profile, Industry Mentor Feedback)


CHAPTER-1
INTRODUCTION
BMW HEADQUARTERS IN MUNICH, GERMANY

BMW is headquartered in Munich, Bavaria. It also owns and produces Mini cars, and is the parent
company of Rolls-Royce Moto Cars. BMW produce motorcycles under BMW Motorrad. In 2012,
the BMW Group produced 1,845,186 automobiles and 117,109 motorcycles across all of its brands.
BMW is part of the “German Big 3” luxury automakers, along with Audi and Mercedes-Benz, which
are the three best-selling luxury automakers in the world.

OVERVIEW OF THE BIRD COMPANY

Bird Automotive has been in the business of luxury automobiles for the past 9 years and
currently services over 7000 premium customers with 3 different product lines including BMW.
In order to cater to the expected standards of service of the luxury automobile buyer we have
invested in a sizeable team of 20+ qualified, experienced and BMW trained Sales Consultants
led by three team leaders. Bird Automotive also has a separate and dedicated team of Sales
Consultants to cater to customers from Corporate Houses and Diplomatic missions.
BMW Bird Automotive is a part of the Bird Group which is amongst the largest industrial
conglomerates in India. Bird Group's core businesses include Retail, Travel Technology,
Aviation Services, Hospitality and Education. At Bird Automotive we believe in highest level of
customer satisfaction, which actually shows in our Customer Satisfaction Index measured by
BMW. We have an extremely high focus on customer loyalty, where customers who buy with us
continue buying and referring friends and family to us. Our business is based on long lasting
customer relationships. At Bird Automotive, we leverage Bird Group’s strengths and provide
our BMW customers an opportunity to experience the Group’s premium hospitality services such
as charter services, hotels and aviation through loyalty programs. Here our BMW customers can
avail attractive discounts and avail our hospitality services which are exclusively available
with Bird Automotive. Bird Automotive is also the only BMW Dealer to have tied up with DLF
Golf Club, one of the most premium Golf club communities in the country. For the convenience
of our customers Bird Automotive offers an outlet at the industrial development colony near
Sector 14 and at the Address One (BAANI) 1 Golf course road, Sector 56. Bird Automotive has
redefined retail with innovative strategies. We understand the growing affluent Indian
consumer market by all its dimensions.

At Bird Automotive, we Imagine, Innovate and Inspire:

 Imagine – We imagine, but we do not let boundaries and paradigms limit our thinking.
Imagination leads to new ideas and new ideas lead to innovation
 Innovate – Not for the sake of innovation, but we make a real difference to the product and
service we offer and the manner with which we deliver.
 Inspire – We inspire ourselves and others. Through innovation and application we set new
standards to measure ourselves.

Since our customers are of prime importance, Bird Automotive also has expansion plans in
Gurgaon in the near future to cater to our customer base and provide better experience, services
and consequently strengthen our relationships with our customers.

PROBLEMS OF INDUSTRY

Globalization diversifies markets for vehicle manufactures where regions like Japan, North
America and Western Europe are established big manufactures with over 18 vehicle
manufactures across the board. This accounts for almost 90 percent of vehicle produced thus a
scramble for available markets, attention now turns to upcoming economies like Russia, Latin
America and Eastern Europe, Governments in developing economies aware of the value of their
prospective growth auction off their market share to the highest bidders, like BMW, this
investors hoping to increase manufacturing capacities so as to build their intended market bid
away their economic returns and in so doing multiply the overcapacity problem on a large scale.
Risks involved in venturing into new markets weigh in and most companies aware of the
consequences of losing a market place bid, this either plays out in the company over bidding or
throwing in the towel and losing the market.
DIFFERENTIATION:

Successful ECO-Specialties must emphasize their differentiation. Differentiation means that the
marketing mix is distinct from and better than what is available from the competitor; product
differentiation is the core to a healthy market share. An abundance of option for the vehicle
buyers exists with vehicle models with almost similar functional characteristics, BMW is now
forced to manufacture unique products for a particular region at a point in time, and this is to
cope with tastes and fickle needs of consumers. This differentiation wanes on their budget
heavily since financial consequences of missing a market are disastrous (Prahalad & Hamel
1990).

INNOVATION:

Commitment to innovation and product variety has brought on the greatest challenge in the
companies history, the intricacy and complexity of the functions offered in BMW’s premium
luxurious cars has burgeoned making manufacturing costs increase. Product development is the
most financially taxing for BMW, the cost of developing a new models and model parts is
enormous, time consuming and carries major risks. where the ford and general motors GM
experience of 1970s and 1980s implies that commonization among manufactures leads to
consumer backlash and confusion, BMW is now faced with expensive process of innovating
prototypes and going through rigorous expensive and risk prone testing phases (Hollensen 2007).

COMPETITION:

Competition from other vehicle manufacturers dictate company strategies, with 69% of the
market controlled by six companies its more difficult for a manufacturer to maintain his buyers
without raids from rivals, this has the most direct effect on prices. Slow growth in automobile
industry intensifies competition and has affected the BMW strategy leading to the BMW
brand acquiring the merger partners (Tata Motors Inc. 2009).

SUBSTITUTE PRODUCTS:

Substitute products threat on the auto market relates to products, materials or resources that may
cause the demand for a product to shift. BMW targets premium buyers with whom quality
matters, however other manufactures targeting this premium car market like, Mercedes, Audi,
and the Porsche consequently become a close substitute to BMW.

GLOBAL WARMING:

With Global Warming a great concern in the modern world, environmental activists, non-
governmental organizations and governments are pushing for manufacturing companies to go
green, BMW The carmaker, whose stable includes its core BMW brand along with the compact
Mini and the super luxury Rolls-Royce, which hopes to deliver over 1.8 million vehicles a year
by 2012 is faced with stricter regulation to conform, the company warned it is also likely to be
confronted in the future by stricter emission standards in many countries. This implies further
costs in innovation of more environmentally friendly engines, fuels and investment into
alternative sources of energy to drive their cars.

PLAYERS IN INDUSTRY

1.Volvo
2.Lincoln

3.Mercedes-Benz

4.Lexus

5.Acura

6.Audi

7.Jaguar

8.Cadillac
COMPANY PROFILE

BMW Group Company Profile:

The special fascination of the BMW Group not only lies in its products and technology, but also
in the company’s history, written by inventors, pioneers and brilliant designers. Today, the
BMW Group, with its 30 production and assembly facilities in 14 countries as well as a global
sales network, is the world’s leading manufacturer of premium automobiles and motorcycles,
and provider of premium financial and mobility services.

Production Today and Tomorrow:

The BMW Group sets trends in production technology and sustainability as an innovation leader
with an intelligent material mix, a technological shift towards digitalisation and resource-
efficient production. At the same time, flexibility and continuous optimisation of value chains
ensure competitiveness.

Sustainability:

Long-term thinking and responsible action are the basis of economic success. Ecological and
social sustainability, comprehensive product responsibility and a clear commitment to
conserving resources are therefore an integral part of our strategy. With Efficient Dynamics, the
BMW Group consistently implements the principle of sustainable mobility and is steadily
reducing its vehicles’ fuel consumption and emissions.

ORGANIZATIONAL STRUCTURE

PEOPLE

BMW is executing their work with around 1,34,682 employees. And in Bird Automotive there is
around 4500 employees with a working staff too. Around 124 number of nationalities are
working together in Germany.

PRODUCTS AND SERVICES

BMW is being dealing in different ranges of car comprising of sports car, luxury line,etc. Even
BMW provides FINANCIAL ASSISTANCE to its customer to buy the car, and other services
like TECHNICAL SUPPORT and other FUTURE ASSISTANCE to its customers. The most
flexible and efficient way to realize your dream of owning a BMW. It is our constant endeavor to
give you a financial plan best suited to your requirements, ensuring complete peace of mind
during your BMW ownership experience. From remarkable value added services to
comprehensive assistance when you transition to your next BMW, rest assured knowing that you
are in the safest hands. Let BMW Financial Services take your BMW experience to a whole new
level of luxury.
COMPANY HISTORY

BMW

Evolution of BMW:

1916–1923: Aircraft engine production

1923–1939: Motorcycle and car production

1939–1945: World War II

1945–1959: Post-war rebuilding

1959–1968: Near bankruptcy and New Class

1968–1978: New Six, 3 Series, 5 Series, 7 Series

1978–1989: M division

1989–1994: 8 Series, hatchbacks

1994–1999: Rover ownership, Z3

1999–2006: SUV models, Rolls-Royce

2006–2013: Shift to turbocharged engines

2013–present: Electric/hybrid power

BMW is making changes in it in many ways by developing itself in fields of technology,


according to the taste of customers, dynamic business environment and changes in accordance to
the rivals.
BIRD GROUP:

With over 45+ years of experience in India, Bird Group is amongst the largest and most
diversified entities within the industry. With businesses as diverse as pioneering back-office
processing to being the representative for many of the world's leading airlines; from managing
the backbone of the technological framework for airline IT and distribution to managing crucial
relationships of international service providers, Bird Group has ensured that a comprehensive
portfolio of service offering has been created to add value to an extensive client base and add
new potential customers.

Today Bird’s Group core business includes Education, Travel Technology, Aviation Services,
Hospitality Retail.

HISTORY:

Bird Group was founded in 1971 with the set-up of Bird Travels. Today, with more than 45
offices supported by over 9000+ well trained staff and an impressive clientele of over 500+ top
corporates, Bird Group is amongst the largest and most diversified group of various entities
within the industry. With businesses as diverse as pioneering back- office processing to be the
representative for many of the world leading airlines, from managing the backbone of the
technological framework for airline IT and distribution to managing crucial relationships of
international service providers, Bird Group has ensured that a comprehensive portfolio of service
offering has been created to add value to an extensive client base and add new potential
customers. Today Bird Group's core business includes Travel Technology, Aviation Services,
Hospitality, Retail and Education. Starting off as the India's leading travel and technology
service providers, Bird Group has pioneered many innovations in the industry. Adapting to
changing global dynamics, Bird Group today, with its headquarters in New Delhi, India is one of
the most trusted names in the industry. We at Bird Group believe in the philosophy of 'Imagine.
Innovate. Inspire!', thereby enabling clients to excel and grow in their fields of business. We
innovate with our customers' needs in mind. Innovation, we believe, will help to be an
inspiration to raise standards of service excellence. Bird Group emerges as a focused corporate
group of entities, leveraging its knowledge, leadership and operations to add lasting value for
its stakeholders and investors.

Corporate Social Responsibility (CSR)

Under the valuable guidance and patronage of Mrs. Radha Bhatia, Chairperson, Bird Group a
number of charitable organisations and projects have been supported over the last several years.
The Group's commitment towards social responsibility is driven to make meaningful
interventions in the areas of healthcare, education, women empowerment and social
rehabilitation. Our commitment has not been limited to the travel and tourism industry. Over the
years, we have developed a clear road to realize our vision of empowering the underprivileged
sections of society. The group has always believed in and worked towards empowering
communities to become stronger, self reliant, more capable, equipped with knowledge, tools and
education so that they achieve meaningful and long lasting growth instead of just short term
benefits.

1.Parvarish Bird Foundation: From community welfare to education, health and wellness
programs for under privileged children, 'Parvarish - Bird Foundation' (a registered society) has
worked tirelessly on a mission to bring about meaningful and significant change.

2.Bird Education Society: Education is recognized as a fundamental enabler of social change.


Bird Education society offers education to the underprivileged and in turn creates various
employment opportunities. Founded on the astute principle of ‘Hunar se rozgar’, the society’s
initiatives are designed to empower by skilling, which in turn leads to profound change and
growth.

3.Sukarya: Bird Group supports Sukarya, a non- profitable trust based in Gurugram, Haryana in
its initiatives for social welfare. It aims to contribute towards the physical and mental well-being
of underprivileged and vulnerable sections of society, particularly women, adolescents and
children. Sukarya also aims at taking modest steps towards assisting women of marginalized
communities in generating additional income for meeting their household needs, by utilizing
their skills in the production of unadulterated spices, pickles and chutneys amongst other articles.
In order to provide the community with a viable option of accessible health care services the
trust runs charitable homeopathic clinics for the underprivileged. The trust also runs an informal
school for underprivileged children.

4.WE: WE is a coalition of successful women achievers who are committed towards supporting
underprivileged women, especially in the field of education, financial management and
healthcare. Under the auspices of Bird Foundation, the Group organises the "We" conference to
bring eminent female achievers together on a common platform to discuss how their
achievements can guide and influence the women of today, thus contributing towards
strengthening of not just these women but their families and society at large.

VISION

 To achieve market leadership.


 Helping people live better lives.
 To be the most successful premium manufacturer in the industry Mission: The BMW Group is
the world's leading provider of premium products and premium services for individual mobility.

MISSION

 To provide the best business opportunity.


 To facilitate best business opportunities.
 The BMW Group is the world's leading provider of premium products and premium services for
individual mobility.

Our Values

RESPONSIBILITY:

We take consistent decision and commit to them personally. This allows us to work freely and
more effectively.
APPRECIATION:

We reflect on our actions, respect each other, offer clear feedback and celebrate success.

TRANSPARENCY:

We acknowledge concern and identify inconsistencies is a constructive way. We act with


integrity.

TRUST:

We trust and rely on each other. This is essential if we are to act swiftly and achieve our goals.

OPENNESS:

We are excited by change and open to new opportunities. We learn from our mistakes.

COMPETITORS OF BMW

There are many competitors and rival companies in the business environment of automobile
sector, the companies are making changes to themselves according to the taste and preferences of
customer, technological change, change in government policy and other further development in
respect to looks, size, space, engine power, performance, boot capacity, tires, etc.

1) Tata Motors
2) Volkswagen
3) Volvo
4) Porsche
5) Aston Martin
6) Toyota Motor Corporation
7) Audi
8) Mercedes Benz
These all are the Direct Competitors of BMW. Also other local Indian Companies are its
competitors.

SWOT Analysis of BMW

With SWOT analysis, strengths, weaknesses, opportunities and threats can be reviewed in order
to decide further planning for the organization.

 STRENGHTS

1. BMW is known for constant product innovations and technological advancements which has made it
a leading car brand

2. BMW has a diversified portfolio including SUVs and Luxury Sedans as well as sports car

3. Most of the cars are equipped with iDrive, an in-car infotainment system, which connects all the
inner functionalities and capabilities

4. Great Styling and elegant interiors is a feature of BMW cars

5. It is one of the oldest car manufacturers and have strong market presence and legacy

6. Diversification in business through brands like Mini and Motorrad as well as Husqvarna have helped
BMW grow.

 WEAKNESS

1. Strong competition from other luxury manufacturers means BMW has a constant fight for market
share.

2. Being a popular brand, minor controversies are blown out of proportion which affects the image.
 OPPORTUNITY

1. Expanding automobile market and available space for competitors is an opportunity for BMW.

2. Increasing the offered product portfolio along with diversification.

3. The reputation and brand identity earned by so many years of existence, can be leveraged to acquire
new customers.

4. More inclination of affluent customers to purchase premium global brand like BMW.

5. Augmenting the distribution and service network in various countries.

 THREATS

1. Increasing fuel costs can lead to people using public transport more extensively.

2. Competition from other big automobile giants can affect BMW's market share.

3. Competitive products offering same level features at a lesser price.

4. Product innovations and frugal engineering by competitors.

BOARD OF DIRECTORS

1.Kurt W.Bock,60- Member-Supervisory Board

2.Norbert Reithofer,60- Chairman-Supervisory Board

3.Heinrich Hiesinger,58- Independent Member- Supervisory B oard

4.Ralf Hattler,50- Independent Member- Supervisory Board

5.Simone Menne,58- Independent Member- Supervisory Board


6.Christiane Benner,50- Independent Member- Supervisory Board

7.Brigitte Rodig,55- Independent Member- Supervisory Board

8.Dominique Mohabeer,55- Independent Member- Supervisory Board

9.Jurgen Wechsler,63- Independent Member- Supervisory Board

10.Susanne Klatten,56- Independent Member- Supervisory Board

11.Werner Zierer,59- Independent Member- Supervisory Board

12.Wilibald Low,62- Independent Member- Supervisory Board

13.Horst Lischka,55- Independent Member- Supervisory Board

14.Renate Kocher,66- Independent Member- Supervisory Board

15.Reinhard F.J. Hutti,61- Independent Member- Supervisory Board

16.Franz Markus Haniel,63- Independent Member- Supervisory Board

17.Karl-Ludwig Kley,65- Deputy Chairman-Supervisory Board

18.Stefan Schmid,48- Deputy Chairman-Supervisory Board

19.Stefan Quandt,50- Deputy Chairman-Supervisory Board

20.Manfred Schoch,61- Deputy Chairman-Supervisory Board

21.Herald Kruger- Chairman-Management Board

22.Maximilian Schoberl- Director-Corporate Affairs

23.Oliver Zipse- Head-Production

24.Markus Schramm- Head-Strategy

25.Kurt W.Bock- Member-Supervisory Board

26.Bernd Daser- Investor Relations Contact

27.Milagros Caina Carrerio-Andree- Head-Human Resources & Labor Relations

28.Norbert Reithofer-Chairman-Supervisory Board


29.Nicolas Peter- Chief Financial Officer

30.Klaus Frohlich- Head-Development

31.Peter Schwarzenbauer- Member-Management Board

32.Jens Monsees- Vice President-Digital Strategy

33.Pieter Nota- Head-Sales & Marketing

34.Torsten Schussler- Head-Investor Relations

35.Jurgen Reul- General Counsel

36.Heinrich Hiesinger- Independent Member-Supervisory Board

CONCLUSION

CUSTOMER SATISFACTION

Customer satisfaction, a term frequently used in marketing, is a measure of how products and services
supplied by a company meet or surpass customer expectation. Customer satisfaction is defined as "the
number of customers, or percentage of total customers, whose reported experience with a firm, its
products, or its services (ratings) exceeds specified satisfaction goals.” In a survey of nearly 200 senior
marketing managers, 71 percent responded that they found a customer satisfaction metric very useful in
managing and monitoring their businesses. It is seen as a key performance indicator within business and
is often part of a Balanced Scorecard. In a competitive marketplace where businesses compete for
customers, customer satisfaction is seen as a key differentiator and increasingly has become a key
element of business strategy. Within organizations, customer satisfaction ratings can have powerful
effects. They focus employees on the importance of fulfilling customer expectations. Furthermore, when
these ratings dip, they warn of problems that can affect sales and profitability. These metrics quantify an
important dynamic. When a brand has loyal customers, it gains positive word-of-mouth marketing,
which is both free and highly effective. Therefore, it is essential for businesses to effectively manage
customer satisfaction. To be able do this, firms need reliable and representative measures of satisfaction.
In researching satisfaction, firms generally ask customers whether their product or service has met or
exceeded expectations. Thus, expectations are a key factor behind satisfaction. When customers have
high expectations and the reality falls short, they will be disappointed and will likely rate their
experience as less than satisfying. For this reason, a luxury resort, for example, might receive a lower
satisfaction rating than a budget motel—even though its facilities and service would be deemed superior
in 'absolute' terms. The importance of customer satisfaction diminishes when a firm has
increased bargaining power. For example, cell phone plan providers, such as AT&T and Verizon,
participate in an industry that is an oligopoly, where only a few suppliers of a certain product or service
exist. As such, many cell phone plan contracts have a lot of fine print with provisions that they would
never get away if there were, say, a hundred cell phone plan providers, because customer satisfaction
would be way too low, and customers would easily have the option of leaving for a better contract offer.

PURPOSE

A business ideally is continually seeking feedback to improve customer satisfaction.


"Customer satisfaction provides a leading indicator of consumer purchase intentions and loyalty."
Customer satisfaction data are among the most frequently collected indicators of market perceptions.
Their principal use is twofold:

1. Within organizations, the collection, analysis and dissemination of these data send a message about
the importance of tending to customers and ensuring that they have a positive experience with the
company’s goods and services.

2. Although sales or market share can indicate how well a firm is performing currently, satisfaction is
perhaps the best indicator of how likely it is that the firm’s customers will make further purchases in the
future. Much research has focused on the relationship between customer satisfaction and retention.
Studies indicate that the ramifications of satisfaction are most strongly realized at the extremes." On a
five-point scale, "individuals who rate their satisfaction level as '5' are likely to become return customers
and might even evangelize for the firm. (A second important metric related to satisfaction is willingness
to recommend. This metric is defined as "The percentage of surveyed customers who indicate that they
would recommend a brand to friends." When a customer is satisfied with a product, he or she might
recommend it to friends, relatives and colleagues.
CHAPTER-2
JOB DESCRIPTION
INTRODUCTION:-

The data collected through job analysis provides the basis for preparing job description and job
specifications. Job description is a written description of a job and the types of duties it includes.
Since there is no standard format for job descriptions, they tend to vary in appearance and
content from one organization to another. From the employer’s standpoint, written job
descriptions can serve as a basis for minimizing the misunderstandings that occur between
managers and their subordinates concerning job requirements. They also establish management’s
right to take corrective action when the duties covered by the job description are not performed
as required.

DEFINITION:

A job description typically is a narrative that identifies:

• What, where, when and how job tasks are done.

• What equipment, machines or tools are used.

• Minimum skills and qualifications required to perform the job.

• Supervision and direction for the position.

• How the job interacts with customers, fellow workers, or others.

• Job procedures related to the job.

• Communications requirements.

• Other information required to appropriately define the job

IMPORTANCE:-
All employees like to know what is expected of them and how they will be evaluated. Job
descriptions can also be a great value to employers. Creating a job description often results
in a thought process that helps determine how critical the job is, how this particular job
relates to others and identify the characteristics needed by a new employee filling the role.
A job description typically outlines the necessary skills, training and education needed by a
potential employee. It will spell out duties and responsibilities of the job. Once a job
description is prepared, it can serve a basis for interviewing candidates, orienting a new
employee and finally in the evaluation of job performance. Using job descriptions is part of
good management. Descriptions of job titles appear in a variety of forms in the workplace.
Recruitment ads, compensation surveys and other benchmarking tools, as well as corporate
or departmental development plans all use some method of describing a job.

CONTENT IN JOB DESCRIPTION:

1. Job Identification

2. Job Summary

3. Job Duties and Responsibilities

4. Working Conditions

5. Social Environment

6. Machines, Tools and Equipment

7. Supervisions

8. Relation to other Jobs

HOW TO WRITE A JOB DESCRIPTION:

There is no standard format for writing job description. But most widely used formats
contain the following sections:
1. Job identification

2. Job summary

3. Responsibilities and duties

4. Accountabilities

5. Job specifications

PURPOSE OF JOB DESCRIPTION:

1. The primary purpose of a job description is to identify the duties, essential functions and
requirements of the position.
2. A good job description can assess work flow and eliminate duplication of effort and also help
assist in the evaluation of the employee job performance.
3. It should be a statement of what duties and responsibilities the employee is expected to complete
and a means for achieving them.
4. For understanding new assignments and working conditions.
5. For understanding and establishing training objectives and developmental goals / objects.
6. Assist in hiring and placing employees in positions for which they are best suited.

USES OF JOB DESCRIPTION:

1. Job grading and classification.


2. Placement of new employees on a job.
3. Orientation of new employees.
4. Promotions and transfers.
5. Defining and outlining promotional steps
6. Adjustments of grievances.
7. Investigating accidents.
8. Defining the limits of authority.
9. Health and fatigue studies.
10. Developing performance standards.

ADVANTAGE OF JOB DESCRIPTION:

1. It enables us to compare potential candidates to it, helping with the selection process.
2. Allows possible candidates o compare themselves with the job.
3. Its legal requirement and allows candidates to know the relevant information needed about what
the job involves and the responsibilities they will have.
4. Enables us to draw up a constructive job advert, which had relevant information on it and
allowed us to obtain candidates who could the necessary tasks.

DISADVANTAGE OF JOB DESCRIPTION:

1. You can lose an ideal candidate for another type of job within the job.
2. They can’t carry out a particular task then the job description.
3. They can limit the scope of activities of the jobholder, reducing organizational flexibility.
MY PROFILE AS AN INTERN:

Kunal Sharma
Mobile: +91-9654963555
E-mail: 1999kunalsharma@gmail.com
Address: M-3/21 Ground Floor, Model Town-III, Delhi-110009

A dynamic, team spirited and self-motivated BBA undergraduate, seeking a challenging opportunity to learn, and
nurture my functional skills and contribute to the organizational goals.

Academic Details:

Degree Institute Year Remarks


st
BBA Bharati Vidyapeeth Institute 2017-20 1 Year : 8.31 SGPA
of Management and 2nd Year :
Research, New Delhi
Class XII Happy School Darya Ganj, 2017 75%
New Delhi-110002
Class X Happy School Darya Ganj, 2015 7.0 CGPA
New Delhi-110002

Extra-Curricular Activities & Achievements:


 Diploma course from LBSTI (New Delhi) in Office Management (DOM), Pursuing Diploma in C/C++ Language
also.
 Participated in interschool competitions like singing, general knowledge, olympiad, etc.
 Active participation in cultural programs at school.

Skills, Interests & Hobbies:

 Team player
 Quick learner; ability to take new challenges
 Confidence and commitment
 Interests- Travelling, Playing outdoors games like basketball, Listening & Singing music, Watching
movies, making friends, Driving.

Skills & IT Proficiency:

 Software skills: MS Office (Word, PowerPoint, Excel), Basic Knowledge of C/C++ Language.

Language

 English, Hindi, German (Basic Level)


DIFFERENT LEVELS JOB DESIGNATION AND PROFILE

1. Finance Manager

Job Responsibilities:

 Making Daily Progress report.


 Follow-up with finance cases with all banks & sales dept.
 Dealing with customer to inform the new finance scheme.
 Help the customer & sales staff to provide the document which are required by bank.
 Responsible for the all type of query which are required by customer & sales staff.
 Provide Post Delivery Documents to Banks.
 Confirm the Delivery Order of customer self-finance & follow-up the payments.
 Visit the bank for New Finance Scheme.

Team Leader (Sales):

 Provide excellent customer service at all times and work as a part of team.
 In-charge of selling and demo the unit of the product of the company.
 Handle customers care concern
 Performs other duties as may be assigned from time to time
 Ensure that each customer needs are met, with the goal of increasing sales.
 Maintaining the stock for the Vehicles.

2. Senior Accountant

Job Responsibilities:

 To prepare financial statements and supporting schedules according to monthly close schedule.
 Facilitate and complete monthly close procedures.
 Analyze revenues, commissions and expenses to ensure they are recorded appropriately on a
monthly basis.
 Prepare monthly account reconciliations.
 Assist with financial and tax audits.
 Other projects as assigned.
 Assist in documentation and monitoring of internal controls.
 Assist preparing of tax returns an corporate reporting requirements.

Required skills & Qualities:

 Bachelors or Higher Degree in Finance or Accounting.


 Strong understanding of Accounting Theory.
 CPA designation preferred.
 Ability to meet assigned deadlines.
 Highly detailed and organized in presentation of work.
 Excellent communication and interpersonal skills with a customer service with a customer
service focus.
 Proficiency with email and Microsoft Office Applications.
 Ability to work effectively and efficiently.
CHAPTER-3
ANALYSIS OF JOB DONE
DEFINITION:

Job analysis in human resource management (HRM) refers to the process of identifying and
determining the duties, responsibilities, and specifications of a given job. It encompasses the
collection of data required to put together a job description that will attract the right person to fill
in the role. Job analysis helps establish the level of experience, qualifications, skills and
knowledge needed to perform a job successfully.Job analysis is a family of procedures to
identify the content of a job in terms of activities involved and attributes or job requirements
needed to perform the activities. Job analysis provides information of organizations which helps
to determine which employees are best fit for specific jobs. A job analysis is a process used to
collect information about the duties, responsibilities, necessary skills, outcomes, and work
environment of a particular job environment. A job analysis is normally documented via a job
analysis questionnaire, and the end product is a job description, inclusive of clearly defined job
specifications (i.e., required or preferred qualifications) for the job. You need as much data as
possible to put together a job description, which is the frequent output result of the job analysis.

PROCESS OF JOB ANALYSIS:


ADVANTAGES OF JOB ANALYSIS:

1. Helps in creating right Job-Employee Fit.


2. Helps in deciding compensations and benefits.
3. Helps in Analyzing Training & Development Needs.
4. Guide through Performance Evaluation and Appraisal Performance
5. Provides with First Hand Job-Related Information.
6. Helps in Establishing Effective Hiring Strategies.

DISADVANTAGES OF JOB ANALYSIS:

1. Lack of support from the top management.


2. Relying on one source and method of data collection.
3. Non-trained and non-motivated job holders who are the actual source of job data.
4. Distorted information/data provided by the respondents i.e. the job holders because of non-
preparedness on their part.

JOB ANALYSIS METHODS

Determining which tasks employees perform is not easy. The observer's perception influences
direct observation. The most effective technique, if feasible, is to collect information directly
from the most qualified incumbent. It is preferable to use two methods, if possible—for example,
direct observation and a structured questionnaire from job incumbents, or interviews and open-
ended questionnaires from the job incumbents. The following describes the most common job
analysis methods.

1. Open-ended questionnaire

Job incumbents and sometimes their managers fill out questionnaires about the KSAs necessary
for the job. HR compiles the answers and publishes a composite statement of job requirements.
This method produces reasonable job requirements with input from employees and managers and
helps analyze many jobs with limited resources.

2. Highly structured questionnaire

These questionnaires allow only specific responses aimed at determining the frequency with
which specific tasks are performed, their relative importance and the skills required. The
structured questionnaire is helpful to define a job objectively, which also enables analysis
with computer models.

3. Interview

In a face-to-face interview, the interviewer obtains the necessary information from the employee
about the KSAs needed to perform the job. The interviewer uses predetermined questions, with
additional follow-up questions based on the employee's response. This method works well for
professional jobs.

4. Observation

Employees are directly observed performing job tasks, translating observations into the
necessary KSAs for the job. Observation provides a realistic view of the job's daily tasks and
activities and works best for short-cycle production jobs.

5. Work diary or log

A work diary or log is an anecdotal record the employee maintains and includes frequency and
timing of tasks. The employee keeps logs over an extended period. HR analyzes the logs,
identifies patterns and translates them into duties and responsibilities. This method provides an
enormous amount of data, but much of it is difficult to interpret, not job-related and difficult to
keep up-to-date.

OTHER QUALITIES AND EXPERIENCES:

1. Professional communications

Working in a professional setting for the first time can be difficult to get used to. But it is the
best way to learn how to navigate the working world through real-life, hands-on experience. One
of the most valuable skills you will gain from an internship is the ability to speak with people in
a professional setting. Discussions with bosses or coworkers are different from discussions with
lecturers or fellow students. After your internship, you should have a better idea of the
appropriate way to behave as a professional. This will help you a lot when you start interviewing
for jobs because you will be more confident and will sound more mature and experienced in a
business setting.

2. Networking is important

Don’t underestimate yourself; make sure you make the most of your internship and take
advantage of all the opportunities that come with it. Also, unglue yourself from your desk every
once in awhile and get to know other interns. Not only will you end up creating great memories
and making friends, but you will widen your professional network. Be proactive, and if you are
invited to work functions introduce yourself to people. This is the only way people will know
who you are and what you’re all about and most importantly – remember you.

3. Taking constructive criticism well

Naturally, no one likes to be criticised and performance evaluations can be quite scary. You will
probably make a few mistakes and receive constructive criticism about your work from both
your colleagues and your boss. Always remind yourself that it’s not personal. It is for your own
good and growth and it will improve the quality of your work.

4. Work hard no matter what you’re doing

Always work hard even if your task is small and seems unimportant. It will help you build a
good work ethic, and people will notice the effort you put in. It’s not nice being told what to do
all the time, but your superiors (mostly) know better. Following the rules and instructions they
give you makes it easier for everyone.

5. Independence

Often, we think being spoon-fed is the way to learn, but working independently has proved to be
very important. Your internship will teach you to make my own decisions and do things on your
own. Being able to work independently with little guidance is very important in the working
world.

6. Making connections

In addition to the people who will be your references in the future, try to leave your internship
with new connections: senior employees, clients, fellow interns, etc. These people can provide
guidance, advice and help you in future job searches. Keep them in the loop on where you are in
your career, and offer to help them whenever you can. To do this, you’ll need to make an effort
during the course of your internship to build relationships with people around the office.

7. You’re more important than you think

Even though you are at the bottom of the career ladder, you’re also needed and your basic work
is appreciated. Intern life can be tough, and you only get a short time to make a lasting
impression. However, it is a great opportunity to gain experience, make friendships and learn. So
work hard and enjoy your internship.

EXPLANATION OF WORK DONE BY ME

I completed my internship at BMW Bird Automotive. Working closely with the department’s
managers I also worked on and created spreadsheets for various reports during my time there. It
was also a great experience because not only was it education and real-world experience, it was
an incredible environment. It was a huge department that has a great team atmosphere. It was
very engaging because I was constantly learning something new. I use to prepare FI Sheet, filing
of new files on DFE (Dealers Front End), Making the files legal by using Authorized Signatory
stamp of BMW Bird Automotive Pvt. Ltd. Even I use to do Public Dealing i.e. obtaining relevant
information for the file from the customer which helped me in boosting my self-confidence to
talk and deal with them for exchanging of ideas in context to the file. Also we use to visit the
customer at his work place to obtain the proof that he is genuine and there is no biasness in the
information which is being provided to us. Proof can be obtain by taking the pictures of the
factory, reception if it’s a home then pictures of the bungalow, floor, etc. whatever it is and also
taking the picture of the customer at the time when he is signing the agreement paper.
CHAPTER-4
LEARNING OUTCOMES
WHAT DID I LEARNED DURING MY PROJECT

1. I’m not alone

Coming into this position, I felt that I had no idea where my career was going and I lacked
confidence about what I could do and what I am really good at. My internship has definitely
given me a better understanding of my skill set and where my career may take me, but most
importantly, I’ve come to learn that I am not alone. This job has taught me that almost everybody
is in my same position. Very few college students know what they want to do, and it is
something that is simply not worth worrying about. Thanks to my I know that if I continue to
work hard things will fall into place.

2. To keep writing

This was huge for me. I have always enjoyed writing, and always felt that I was pretty good at it.
Yet, what this position taught me is that I really didn’t have the writing skills I thought I had.
Writing takes practice and I simply was not practicing enough. Writing for the web and writing
your average research paper could not be more different. I had to learn to adapt a new tone with
my writing, something that took a little getting used to. This position kept me writing something
new everyday, and I can say that my writing has improved drastically.

3. How to behave in the office

This being my first position in an office atmosphere, I didn’t know exactly what to expect. The
environment here at Experience is quite relaxed, yet it taught me how to behave in the
workplace. Simply working in the office and getting used to everything here has definitely
prepared me for whatever my next position may be. Just observing the everyday events has
taught me more about teamwork, and how people can come together to get things done.
Although sometimes I have to remind myself to use my inside voice, I feel I’ve adapted to the
office life relatively well.
4. How to build my resume

Like I said, this internship has improved my skills a ton, both off paper and on paper. I didn’t
realize it all of this time, but this position served not only as a positive learning experience, but a
resume builder as well. I came into this with a resume that was basically naked, now I am
leaving and I have lots of updating to do. My resume doesn’t need a makeover, it needs to be
restarted from scratch, and that’s a good thing! I underestimated how much work I did that
actually translates to my resume.

5. Go out of your comfort zone to get rid of your prejudices

When you go away from everything you know, you make your own experience and go over your
prejudices. Lots of things were new to me. So it was a big change. When you’re as far from
everything familiar, well you better be humble, because you’ll learn a lot.By being away from
your classic authority such as your family or school you realize there is much more than what
you’ve been taught. You’ll open your mind.

6. Speak up

Many times I would be sitting at my isolated desk with endless questions about what I was
supposed to be doing. I was completely paralyzed in my chair because I was too afraid to walk
around or bother anyone. I rarely moved from my desk the first few weeks, but I would have
been much more efficient and happier if I had gotten up, asked my questions, and got back to
work. If you need help, just ask! It’s much easier than planning out a route to your boss’s
cubicle, writing out a specific dialogue, and rehearsing it ten times.

7. Take on as much as you can

In the entire two months I was at my internship working for a newspaper, I only wrote three
articles. I don’t know what the normal standards are for interns at publications, but I think I
could have done more. I wish I would have asked for more work and when I was asked to
contribute another article, I should have said yes. Remember that the more you do, the more
you have to show for the experience when you’re looking for another internship or, gulp, a job.

8. Work hard

This is an obvious one, but don’t waste time. You’re there to work, and they didn’t have to give
you this opportunity. Make the most of your time and theirs.

9. Mimic your coworkers

I do not mean to play that game and repeat everything they say just to annoy them. I mean watch
how they interact, how they talk, how they dress, and their repeated habits. For example, if you
notice that everyone is always on time and takes punctuality seriously, you darn well better be
there at 9:30 a.m. sharp, or earlier. You can learn a lot about office etiquette procedures from the
ones who have been there for twenty years.

10. Talk with your coworkers

Coworkers have a lot of experience and they have obviously made it in that particular field. Ask
them how they got this far and what advice they have for you. You could learn a lot and get
some great ideas.

11. Be thankful

The best thing to do is send a handwritten note thanking them for the experience and
opportunity to work with them. It’ll leave them with good thoughts about you and you can most
likely refer to them for a recommendation later.
CHAPTER-5
SUGGESTION FOR DIFFERENT
DEPARTMENT
 HR Department

1. HR should engage in good times, not just bad:

So many workers see HR only in disciplinary conversations that it’s no surprise the department
has the aura of the Principal’s Office. The perfunctory anniversary card from HR, or the
Employee of the Month handshake do nothing to assuage that image. If HR occasionally strolled
the shop floor, stopping to chat about a new company initiative, or the ventilation or whatever, it
would help to remove some of the “uh-oh” that accompanies an HR sighting. Even more
effective would be to meet with high achievers informally to get their insight on company
activities or see how they do what they do that could get communicated to managers.

2. Teach supervisors how to converse with their staffs:

Management by walking around used to be the shiny new object for CEOs. There were all sorts
of workshops and seminars on how to do it. Needless to say, few actually did. On the other hand,
direct supervisors were expected to do this, though it wasn’t called that, and they almost
certainly never got sent to workshops to learn the technique. Yet these are the very people for
whom it would have most valuable. What I witnessed back in my corporate days, was how few
managers talked with their team one-on-one. The morning stand-ups in sales the previous days
top sellers. Missing, though, was any sort of follow-up with them. I’m sure it happened, but I
never actually saw any of the directors or, for that matter, managers wandering the office. Had
they, no doubt the staff would have been whispering about what was going on. Yet, getting to
know your people, their interests, their ambitions, their hopes, and, yes, getting to know about
their other life has a direct effect on how you manage and how they respond. HR might have a
hard time taking the lead here, simply because the fear of legal consequences from unstructured
conversation seems to be genetically imprinted.

3. Respect the average worker:


Nobody wants to be average, yet statistically, the world is dominated by the average. Not by a
little, but by a huge majority. That bulge in the bell curve is where most of us dwell. Look at any
team, any company, any class and you find a few outstanding performers, a few dunces, and a
great middle. That middle is the people who keep the engines of industry going. They aren’t
going to get the big bonus or the big raise; the supply of average is large enough to keep their
price and perks in check. But they deserve to be recognized and respected for the day-to-day
work they do. By seeking them out on those management perambulations. By sending them a
note of appreciation. By asking them to serve on one or another of the special committees. By
just saying “thank you” occasionally. When the day comes and you need the help of the great
middle – and that day will come, it always does you’ll be surprised how the whole can suddenly
become greater than the sum of the parts if they feel and believe they are respected.

 MARKETING Department

1. Establish a cross-department workflow

The most important piece of improving your marketing operations is establishing


a project workflow between marketing and the rest of the organization. The internal workings of
individual teams can be heavily influenced by how other departments request projects and/or
expect projects to be done. Once your workflow is established, using a tool to
help task assignments, set deadlines, and follow up is critical.

2. Work with your audience in mind

One issue with marketing, especially in digital, is the noise. There are so many companies saying
the exact same thing, and companies don’t really do the proper research to figure out who they
are, what their message is, who needs to hear that message, and how to get that message out.
Start from the top down. Take the time to explore your analytics and the data, interview your
customers, pay attention to social media conversations & get involved, then create content that
aligns your goals with your audience’s goals, speak to your audience in a unique way, and
constantly review & tweak. The vast majority of time, people make bad marketing decisions
because they don’t have the right information about their target audience. To remedy that, I’ve
worked hard to tie our CRM to our email marketing to our signups to our web traffic, so when
we’re reaching out to someone, we have a complete understanding of them.

3. Stay on brand

Ultimately is a function that’s run through the marketing team. We establish the brand voice and
try to create and implement consistency across all of our efforts, all of our communications
channels and all of our internal divisions/business units.

4. Keep experimenting with new marketing techniques

Great marketing is about experimentation, testing, and measuring different approaches to find
what works best. An issue many marketing departments face is that everyone has their discrete
responsibilities, so it’s left to the marketing director or VP to initiate new programs. However,
this should be everyone’s responsibility. Your team should meet regularly to brainstorm and
come up with one new idea to apply and measure. It can be big or small, as long as you try
something new otherwise you may never find that one golden opportunity that makes your
revenue curve bend upward.

5. Build a long-term marketing plan

Set in stone a comprehensive 12-month marketing strategy and goals for the next five years.
Developing a strategy with clear action items and setting both short-term and long-term goals
pushes you to assign team members and actually implement the tasks.

6. Hire a strategic analyst


The first hire in the marketing operations role should be a strategic analyst. This role is focused
on developing ROI measurements for marketing. Once the tracking is in place, then everything
else within marketing should be aligned.
7. Encourage frequent feedback

A marketing department should constantly be looking for ways to improve the status quo. The
best way for business owners to do this is by going straight to the source and asking those on the
front lines for their input. Make it a point to gather feedback once or twice a month. The most
difficult part of this process, sometimes, can be getting your employees to be honest, as some
may believe that saying what they think will jeopardize their job security. For this reason, always
invite anonymous submissions. You can create forms that ask the most crucial questions related
to your department. The more detailed your employees are with their answers, the easier you'll
find it to address hiccups and eliminate the bottlenecks. Look for patterns and common snags
that are getting in the way of both short-term and long-term goals.

 FINANCE Department

1. Train your staff

The first step to take is to ensure that the people in charge of your accounts are really proficient.
They must be able to adapt to both financial procedures and any accounting software that have
been used by your company. Therefore, it is highly recommended that you conduct training to
optimize your finance team performance. There are different types of training you can provide,
such as in-house seminars, external conferences, one-on-one training, and more. Cross-training is
also needed to cover up the gaps in your accounting department, especially when an accountant is
sick, on vacation, or leaves without notice. When this situation happens, another employee who
has been cross-trained can step in to temporarily handle the financial tasks.

2. Establish effective policies

Indiscipline in financial management is one of the biggest money wasters for companies. Thus, it
is very essential for your company to create policies and deadlines regarding any payment. Ask
your finance staff to process all the payments, including salaries and contracts in a timely manner.
You also need to pay attention to your customer payments. Ask your staff to send reminders to
your customers or clients before their invoices become past due. By complying with established
policies, your finance staff will be able to easily manage your business cash flow and submit
complete financial statements each month.

3. Improve collaboration between departments

Your finance and accounting department can’t run on their own and they often rely on other
departments for their financial data. Requesting data from each department manually is very time
consuming. To improve efficiency, we recommend that you allow all departments in your
company to use a shared system. A Cloud-based ERP software can help your company integrate
all the departments, thus allowing your finance department to get complete data from each
department in a matter of seconds.

4. Use batch payment processing

Processing every single invoice or receipt that comes one at a time is very inefficient. To save
time and effort, make sure your finance staff consolidate all the invoices and process them
simultaneously. Therefore, ask all your staff to submit their invoices or claims for reimbursement
at a designed time so that the finance staff can process it all at the same time.

5. Automate manual processes

In this technological era, manual accounting which takes a long time should have been
abandoned. In order for your finance department to be able to work more efficiently, provide an
accounting system that serves to automate their complex tasks. The system allows your finance
staff to generate reports, calculate profits and losses, create invoices, record and save transaction
details, manage taxes and many more in just a few clicks. By automating a lot of manual work,
your finance staff can focus more on other important jobs.
6. Communicate well with your team

Communicating your expectations of your accounting department from the outset will give your
finance team clarity on what they should do. Explain the policies and procedures your company
has established up front so that they will always comply with them. Be open to their helpful
advice and opinions, especially if they are truly experts in finance.

 IT Department

1. Keep state of play updated

Make status updates less boringly repetitive and more real-time. Walk into any IT department
and you'll instantly feel the buzz of activity. Phones are ringing, keyboards are clacking and
whiteboards are full of scribbles. Everyone is working hard, but do you know if they're on track
and on budget? Providing status updates can be the bane of your existence. You know it needs to
be done and you spend hours doing it, but providing real-time updates is next to impossible, and
your status reports are already outdated by the time they're presented to management. On
average, two in five projects do not meet their original goals, and half of those unsuccessful
projects are related to ineffective communications. To be on the right side of that data, here are a
few suggestions:

Reduce the resistance – Develop a process that allows the entire team to collaborate on
deliverables, review requests and check statuses, all from a single location. This eliminates
information overload by reducing the disparate email chains, deleted voicemails and forgotten
hallway conversations.

Make status updates a value-add – When team members miss your meetings and don't respond
to emails, it may seem like they don't value your communication. And maybe they don't! Sitting
through an hour-long meeting only to provide a two-minute update is definitely not worth their
while. When it's easy to update information about work requests and tasks, they will be more
apt to do it.

Provide customised communication – Different stakeholders have different things they need to
know at different times. Management may need budget information. Staff need to understand
what is coming their way and when. Project managers need to be able to use data from one
project to more accurately estimate another. Take the time to pinpoint your stakeholders' exact
needs.

2. Communicate

Stay on track with project communication to avoid getting overwhelmed. In the information-
overload age, it is more difficult than ever to catch and manage all incoming work requests
without mixing up priorities, missing deadlines and wasting resources. In the continual flood of
requests from emails, meetings, hallway conversations, sticky notes, phone calls and text
messages, it's nearly impossible to keep your head above water. In the constant barrage, what
takes precedence? Software upgrades, user management, hardware maintenance—these
operational duties must get done even while you are working on new development tasks. With
new work requests arriving every day, sometimes it's easiest to just start with the one assigned by
your favourite co-worker. The consequences of this approach, however, are that the work that
needs to be done isn't necessarily the work that is getting done. In fact, just one in 10 workers
feel their work has a strong link to their organisations' top priorities.

Align projects with business goals – Every new request should align with business goals that
are part of strategic initiatives. That means weeding out the ""cool"" ideas from those that
contribute directly to the goals of the enterprise.

Understand the tradeoffs – New work requests don't wait for current tasks to be finished and
can interrupt work in the pipeline, causing unnecessary delays. Every new request has a domino
effect, so it's imperative to understand the downstream work impact.
Empower workers – Every team member needs to be empowered to say "no" (and be able to
explain why) when the request is not aligned with strategic objectives, won't turn out acceptable
ROI, or if there are simply not enough resources.

3. Prioritise tasks

In IT especially, there are always many more projects than there are resources and funds. They
range from large-scale corporate initiatives to small enhancements. And while each project has
its own priority, there can even be task priorities within the project. Just like the blocks in Tetris,
it's critical that all the moving parts fit together to ensure high priority projects are delivered
successfully. Without proper and continual guidance, workers will use their own approach,
putting the pieces together as they see fit rather than the proper order. This means working on
their favourite projects or responding to whoever yells the loudest, especially when every
stakeholder thinks their project should be top priority. When priorities conflict, aren't well
communicated or aren't even set, it can mean the difference between business value and costly
delays. Stephen Covey once gave some sage advice: "The key is not to prioritise what's on your
schedule, but to schedule your priorities. Here a few suggestions to create a prioritised workflow:

Document all projects, big and small – Start with a policy of documenting every project, no
matter the size or complexity. Develop a project intake template that includes the project purpose
and benefit, scope, time frame for delivery, resource requirements, and cost. That way, projects
can be seen, side-by-side, for easy comparison. Add the priority once that's determined.

Require a business case – The vast majority of IT work is not mandatory work, even including
many hardware and software upgrades. In order to set the stage for prioritisation, demand that
every new request includes a business case and proposed deadline. This allows for a more
objective prioritization process, one that relies on real data and not generalisations like major
business impact or needed ASAP.

Implement a priority score – Using the project documentation and business case, develop
scoring criteria and a matrix that allows each project to be appropriately scored. The matrix
should include a business value component as well as a risk to the business, including
organisational disruption and change. Use the matrix to score projects of all sizes so that
everyone can easily understand what should be worked on and why.

4. Stop, collaborate and listen

Make having shared discussions and feedback a delight, not a chore. These days, team members
are scattered. Many are working remotely, and particularly in IT, workers are often outsourced or
off-shored. Because your co-workers may not even be working for the same company, you can't
just swing by and share design ideas or help someone work through a coding error. IT teams also
rely on the ability to share their work and manage version control. Sure, you probably have a
number of ways to track your work. You may be good with spreadsheets or great at email
organisation, but others might lack that skillset or prefer other document management methods.
The result is more time spent managing work than actually getting it done. With documents and
conversations flying around, here are a few suggestions to present information in a unified,
constructive manner:

Value collaboration – In order to improve collaboration and sharing, it must be valued. Take
some time to survey both IT and the business to understand where there are breakdowns in the
process. As you implement improvements, be sure to demonstrate how they can help workers
communicate and share with greater efficiency.

Keep communication and work in one place – Conversations about work, whether in person or
digitally, should be tracked in the context of work. That is, team members need to be able to
access the conversation that is associated with the document or work product in order to better
understand and contribute to the discussion. Keeping them together provides a more complete
audit trail and allows other team members to quickly join the conversation.

Consolidate tools – Get rid of the email chains, spreadsheet trackers, and all of the many ways
you document and share project information. Consolidate your communication and document
sharing tools to minimise the time and effort team members spend searching and replying.
5. Target chaos, reduce stress

Unclutter schedules for happier employees and more successful projects. Sixty-three percent of
workers have high levels of stress, resulting in extreme fatigue and a heightened sense of feeling
out of control. In addition, one-third of workers lose an hour of work per day due to stress. IT
request queues can be overwhelming, and one of many fallouts from an overtaxed staff is less
than optimal performance. When so much emphasis is placed on churning out endless amounts
of work that benefit the enterprise, it's easy to forget about the tax incurred on the people
producing it. It's a fine balancing act to keep your team happy and still get them to do what you
need. The way to win the hearts and time of your team mates is make sure they are working on
tasks that contribute to the success of the business – not administrative overhead. Here are a few
suggestions to avoid the dreaded burnout.

Build a balanced schedule – Theoretically, there are eight hours in a workday. Realistically,
few people work eight hours non-stop. Today's IT workers need time to stay up to date on the
latest trends and technology. Today, 30 percent of people have no time at all for research and
reflection at work. Set time aside for this and you will be rewarded with more innovation and
productivity.

Understand the urgency of every request – We all have co-workers who abuse the "high
priority" email option. Although it sometimes seems that every project is a matter of life and
death, not every new work request is urgent. You need to know which requests can be put on the
back burner when last-minute emergency requests, such as a network crash, come into the
pipeline.

Ask about availability – No one wants to create additional stress, but sometimes the only way
to know if a team member is available is to ask. Make sure to effectively communicate to the
team what every team member is working on and whether they have any available bandwidth.

You might also like

pFad - Phonifier reborn

Pfad - The Proxy pFad of © 2024 Garber Painting. All rights reserved.

Note: This service is not intended for secure transactions such as banking, social media, email, or purchasing. Use at your own risk. We assume no liability whatsoever for broken pages.


Alternative Proxies:

Alternative Proxy

pFad Proxy

pFad v3 Proxy

pFad v4 Proxy