A Summer Training Project Report

“Financial Services and Accounting Practice at

Sanjay K Singhal & Co.”

Submitted in the partial fulfillment of the requirement for the award Of the degree
of Bachelor of Business Administration

(2017-2020)

SUBMITTED BY SUBMITTED TO
SHIVAM SINGHAL Dr. Navneet Gera
0171BBA291 Associate Professor

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2|Page
 INDEX

Serial TOPIC Page NO.

NO.
1. Declaration by student 3
2. Acknowledgement 4
3. Certificate from faculty guide 5
4. Certificate from the director 6
5. Certificate from the company 7
6. Chapter 1-Introduction 9-20
7. Chapter 2-Job description 21-28
8. Chapter 3- Analysis of job done 29-34
9. Chapter 4-Learning outcome 35-39
10. Chapter 5-Suggestions 39-45
11. Appendix A
1. Plagiarism report
2. Online filled feedback from faculty
guide.
3. Attendance report

12. Appendix B
1.Joining report
2.Company profile
3.Mentor feedback
4.Student self-evaluation

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 DECLARATION BY STUDENT

This is certified that the Summer training project submitted to Bharati

Vidyapeeth Deemed University, PUNE in partial fulfillment of the
requirement for the award of the degree of BBA is an original work
carried out by me under the guideline of DR.NAVNEET GERA .The
matter embodied in this Summer training is a genuine work to the best of
my Knowledge and belief and has been submitted neither to the
University nor to any other University for the fulfillment of the course of
study.

SHIVAM SINGHAL
BBA V Section- E
0171BBA291

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 ACKNOWLEDGEMENT

I am highly obligated to the faculty members for extending their support

in the form of specialized knowledge and experience throughout the
summer training project. I owe a special thanks to Dr. Navneet Gera, my
mentor for his time and knowledge. At last I would also like to thanks
my family and friends for their help and support in completion of this
project

Name of the Student

SHIVAM SINGHAL

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 CERTIFICATE FROM GUIDE

This is to certify that the Summer training project is the work done by
Mr. Shivam Singhal 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 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.

Dr. Navneet Gera

Associate professor

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 CERTIFICATE FROM THE DIRECTOR

This is to certify that the Summer training project is an academic work

done by “ Shivam Singhal” submitted in the partial fulfillment of the
requirement for the award of the Degree of BBA from Bharati
Vidyapeeth (Deemed to Be) University, Pune. It has been completed
under the guidance of “Dr. Navneet Gera”, “Associate Professor” in
Department of management. The authenticity of the project has been
verified on the basis of plagiarism report and has been examined by the
faculty supervisor and external examiner .This includes data verification,
checking duplicity of information etc. and it may be rejected due to non-
fulfillment of quality standards set by the Institute.

Dr. Vikas Nath

Director-In-charge

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8|Page
 CHAPTER – 1

“About Company”

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 Overview of
‘Sanjay K Singhal & CO’

Sanjay K Singhal 7 CO (SKS) is an Indian Chartered Accountants’ Firm

established in January, 2006. Since the formation, the firm’s aim is to provide

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customers with real value in return for their trust and confidence in choosing us as

their consultancy firm. We accomplish this by forming one-on-one relationships

with them, listening carefully and providing solutions to their specific needs, and

bringing together our skills, professionalism and determination to address that

needs .Sanjay K Singhal & CO is a successful, growing mid-tier Chartered

Accountants firm that is rooted in East Delhi & Ghaziabad , with a tradition for

providing professional, advice to clients.

The Firm and Partners has wide skill set and experience in Statutory Audit, Income

& Expenditure of the auditing, Stocking Audit, Concurrent, Inspection Audit and
Information and other vital things.

System Audit of Various branches of Nationalised Banks, like State Bank of

India(SBI), Bank of Baroda(BoB), Corporation Bank, Punjab National

Bank(PNB), Allahabad Bank, Indian Overseas Bank, Oriental Bank of Commerce,

State Bank of Mysore, Bank of India(BoI), Syndicate Bank etc. Central Statutory

Audit of Co-operative Bank, Co-operative Societies and

Internal/Statutory/Tax Audit of various Pvt. and Pub. Ltd Firms.

Sanjay K Singhal & CO is a professionally managed chartered accountant firm.

The team consists of various chartered accountants, corporate financial consultants

and tax advisors. The firm represents a combination of specialized abilities and

knowledge , which are equipped to give quality financial advice and personalized

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financial services. The firm is also very dynamic by nature as those associated with

the firm have frequent interaction with the chartered industry and other

professionals which helps us to keep pace and be updated with contemporary

developments to meet the needs of our customers.

At Sanjay K Singhal & CO we have a tendency to perceive that the three major

factors to achieve success in chartered accountancy are: Financial Consultancy ,

Auditing and Taxation and that we pride to be master altogether these domains.

We have a tendency to acknowledge importance of projecting to schedules

and pride oneself on being prompt in delivering the comes at stipulated timeline.

We have a tendency to ensure to take care of a high level of quality altogether our

deliverables. We have a tendency to guarantee to take care of the foremost real and

healthy relationship with our clients .

VISION OF THE FIRM

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“To be the most highly respected professional firm in the region where clients
come for the peace of mind that their interests are being cared for by a team that
enjoys working with them and one another. ”

MISSION OF THE FIRM

“To provide businesses, entrepreneurs and individuals with the highest quality
accounting, auditing, tax planning and business advisory services delivered in a
timely, efficient and innovative manner by a professional team that clearly enjoys
working together to exceed their clients' needs. ”

SERVICES OFFERED BY THE FIRM

o Accountancy

This includes the preparing and analyzing of accounts and the preparation of
financial statements. It consists of a wide area ranging from simple Book keeping
to complex financial analysis and interpretation of results .

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o Auditing

It is probably one of the most important functions of a Chartered Accountant, it is

here that his specialized knowledge, skill , judgment and experience are most
often called into play. The purpose of auditing is to give full satisfaction to the
users of financial statements that the accounts which are presented to them are
build up on correct and accurate accounting principles and that they represent a
correct , true and fair view of the state of functions relating to the organization.

o Taxation

With a number of taxes on the statute book, current and continuing tax information
has become important to the effective to finance of business management. The
assessment of taxes is very closely related with financial accounts. The Chartered
Accountant with his skills, knowledge and experience in accounts is in an
advantageous position for preparing the returns for tax purposes, representing
clients before the Income-Tax(IT) authorities and rendering general advice on
taxes to our clients. An additional responsibility placed on him recently is that our
services will be required by the tax department for auditing complicated and
twisted cases, having large revenue earnings or potential. The requirement under
the Income-Tax law(IT) for compulsory maintenance of accounts by the specified
categories of taxpayers would also make a demand on our time and services.

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o Cost Accountancy

A chartered accountant is additionally trained to determine the prices of production

and of processes at completely different levels of operations within the
manufacture of a product and within the rendering of a service. he's conjointly
equipped to supply cost accounting data for the steerage of management, introduce
value management ways and assist the management in establishing appropriate
selling prices.

o Management Consultancy

We play important in assisting business organisations to utilise resources

effectively, increase their effectiveness and achieving their goals and objectives as
management consultants.

SWOT ANALYSIS OF THE FIRM

o STRENGTH
The primary of owning and operating an accounting firm is that it is usually
immune from negative changes inside the economic system. people, mainly small
enterprise owners and real estate investor, are going to continue to need advice and
preparation of their taxes and financial statements in the monetary climate. As
such, these are most effective services that a properly licensed CPA can provide to
the clients. More over, the licensure requirements set forth by the country will
continue to make sure that only the people that have met stringent educational and

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experience requirements can be capable of exercise in this area. one of the different
strengths of this type of business is that there are numerous kinds of revenue that
can be generated on a monthly, quarterly, and yearly basis. these revenue streams
consist of ongoing bookkeeping coupled with quarterly/every year tax filings.

o OPPORTUNITY

The opportunities for an accounting company are exquisite. most significantly,

many CA corporations are able to enforce applications that generate highly routine
streams of revenue from their services. This, once more, consists of bookkeeping
services. one of the other common methods that accounting firms are able to
generate predicable revenue is through the sale of "audit insurance." these
programs insure that a potential customer that may be audited is protected against
significant fees for dealing with this process. moreover, CA, enrolled agent, and
standard accounting practices are frequently sold when an individual practitioner
comes to a decision to retire or relocate. As such, many accounting companies may
be acquired relatively inexpensively if an accounting company owner is seeking to
amplify via acquisition.

o WEAKNESS

As it relates to the weaknesses of an accounting firm, there are significant

competitive threats. The costs of starting a new accounting firm are low. but, via
differentiating a company as a CA firm, the business can keep away from some
problems referring to firms that only have enrolled agents as their primary
practitioners.

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o THREATS

The threats faced by an accounting company are fairly minimal. this is due to the
fact that, given the complexity of tax regulation, the demand for businesses that
can properly filed income tax returns (for each individual and corporations) is
exceptional. The regulatory environment is unlikely to change in complexity. The
primary threat faced by accounting companies is other businesses that perform in
an identical potential. Any individual who has met the suitable requirements may
additionally acquire a certified public accountant or enrolled agent license.
however, those requirements have become greater stringent over the past 10 years.
As such, this is definitely the only ongoing threat faced by an accounting company.

ORGANISATIONAL STRUCTURE

Sanjay K Singhal & CO is having a branch office in Ghaziabad and head office in
Delhi. Almost all the controls and regulations are dealt by the head office in Delhi.
All the offices constitute different number of departments who basically handle
their respective functions. Major departments of SanjayKSinghal & CO include:-

o Audit and Assurance Department :

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Firm provides audit and assurance services to wide range of clients which include
performing audits of financial statements of limited companies. NGOs and
partnerships firms also perform assignments which include management audits,
internal audits and investigations. Audit focus on business issues and matters that
impact the financial statements, whilst retaining the basic audit process that test the
information contained in financial statements. Services are required to comply with
the laws and regulations in India. In doing so firm not only identify the non-
compliance but also assists the clients in rectifications, designing remedial
measures and provide guidance to adhere to the laws and regulations of our
country relating to tax and auditing or as mutually agreed with the clients, without
compromising the professional legal and ethical requirements.

Firm emphasis on delivering high quality services to clients, adding value to their
business through identification of existing and potential control risks and
suggesting best possible measures in the given circumstances. Firm always place
priority in deploying audit teams to clients who are well equipped with specific
industrial knowledge, experience and are professionally sound .

o Tax and Corporate Department

Firm delivers taxation services to clients and assist them in obtaining optimal tax
benefits available under the laws . Firm also assists clients to comply with the tax
rules and regulations and always keep them updated with latest development and
amendments.The professional we have are highly skilled in taxation specifications.
We also maintain a knowledge center which provides ready references and timely
solutions in complex situations . Sanjay K Singhal also provides a comprehensive
range of tax services like :

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  Analysing and submitting the annual tax returns

 Tax related consultancy

 Compliance services
 Representation and litigation in Tax authorities

 Personal Income Tax services

In S.K.S & CO staff is maintaining and handling the tax and corporate matters.
While in corporate firms we provide different kinds of services from incorporation
to winding up of the client company.

o Computer Department :

Department handles computer related matters and affairs and also helps other
working departments to work efficiently which increases co-ordination.
Department deals in online filings of the returns of Personal tax,corporate tax and
finalize audit reports in proper formats in a presentable format. It deals with
networking of computers in office and problems faced by other departments in
computer technology.

o Correspondence department :

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It handles all the correspondence of the firm by sending solicited and unsolicited
information over the time period. It manages day-to-day operations of the firm
effectively and efficiently.

o HR Department :

This department is mainly concerned with the recruitment of employees in the firm
and presents timely reports on proper utilization of the firms resources . It helps the
firm to keep the employees energized and fully motivated towards our firm’s goals.
Other purpose of the department is to provide a good working environment to the
employees and facilitating them and arranging some recreational activities from
them.

ABOUT INDUSTRY
(Institute of Chartered Accountant of India )

The Institute Of Chartered Accountant Of India (ICAI) was established by the Act

of Parliament of India on July 1, 1961under Chartered Accountant Ordinance

,1961 to regulate the profession of accountancy in the country .

ICAI is governed by the Council which consists of nineteen members. Fifteen

members are elected among the member for a period of four years. The remaining

four are selected by the Government of India .

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VISION OF ICAI :

The profession of Chartered Accountants in India should be the benchmark of

professional excellence upholding principles of integrity, transparency and
accountability.

MISSION OF ICAI :

To achieve excellence in professional competence , add value to the business and

economy , safeguard public interest ; ensure ethical practices and good corporate
gorvernance while recogonising globalization needs.

These kinds of firms provide different kinds of professional srices like taxation ,
auditing and management consultation to its clients .

The Chartered Accountants course is conducted by the Institute of Chartered

Accountants of India , which has its headquarters (HQ) in New Delhi. , 5 regional

offices in (Calcutta, Kanpur, Chennai, Mumbai& New Delhi) and 81 branches

under these regional centers.

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 CHAPTER-2

JOB DESCRIPTION

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What basically is Job Description in General ?

A JD better known as Job Description is a document intended to provide job

applicants with an outline or blue print of the main duties and responsibilities of
the role for which they are applying to the job .The description is mainly /
commonly drawn up with the individual in the organization responsible for the
selection process for the role, often with the help of the company’s HR department
and other external recruiter .Job description is an informative documentation about
the scope, duties, tasks, skills ,responsibilities and working conditions about the
job listed in the organization through the process of job analysis. Job Description
gives the detailed skills and qualifications that an individual must having while
applying for the job . It basically gives all the details which might be good for the
company and the applicant as well so that both parties are on the same pace
regarding the job posting. Basically, job analysis is divided into two components
namely job description and job specification. The job description is used in the
recruitment process to inform the applicants about the job profile and
requirements, and used at the performance mgt. process to understand the
employee’s performance against the description.

What is the Importance of Job Description?

o Performance Administration

You’ll be able to utilize it to line quantitative execution goals in lightweight of

obligations a part of the set of operating responsibilities, and subsequently mentor
your representatives to fulfill these destinations PRN.

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o Training and representative advancement.

You’ll utilize your employee sets of expectations , aboard portrayals of

conceivable occupation advancements, as motivating forces for representatives to
hunt when categories, workshops and alternative profession improvement
exercises.

o Compensation.

Sets of expectations is helpful in build up Associate in Nursing institutionalized

pay program with necessities and maximums for every position.

o Recognition and prizes.

You’ll utilize the portrayals as a gauge for execution, Associate in Nursing as an

instrument to empower representative execution well beyond the set
of operating responsibilities with a particular finish goal to
induce acknowledgment and prizes.

o Discipline.

On the off chance that you have to, you can utilize the set of working
responsibilities to represent that a representative isn't satisfactorily
performing work capacities.

o Return-to-work programs.

You can get ready for light or adjusted obligation choices to take into
consideration a smoother progress from laborers pay damage or leave.

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 Essentials duties and responsibilities expected from
intern:-

 Preparation of different monetary and reports by the administrators and

participants.

 The establishment and upkeep of bookkeeping records must be immediate to

indicate receipts and consumption.

 Directs the upkeeps of general and backup records , debt , claims and income
dispersion.

 Devaluation cost, property and working cost and protection records.

 Directs and takes an interest in cost investigation and rate considers.

 Prepare explanations and reports of assessed future expenses and incomes.

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 Directs inwards reviews including survey of bookkeeping and regulatory
controls.

 Establish framework controls for new budgetary frameworks and creates

techniques to enhance existing framework.

 Co-ordinate planning of outside review materials and outer monetary

announcing.

 Reviews the budgetary proclamations with administrations work force.

 Directs and maintenance of new accounting , timekeeping , payroll , inventory ,

property and other related procedures and controls.

My profile as an Intern at ‘Sanjay K Singhal & Co.’

Title :
Taxation Trainee (Intern)

Role :

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Intern

Responsibilities:

o Working under the supervision of the senior finance and taxation permanent
employee of the company.

o Read and understand the financial processes and procedures of the company
and work accordingly.

o Assist the CAs and accountants in reviewing the financial statements and cross
checking their work.

o Use of the MS excel and Tally software is used for maintaining accounts.

o New business opportunity found in market.

o Clients must be followed up.

o Budget development and management of the cash flow.

o Advise clients on business transactions, such as mergers and acquisitions

(corporate finance)

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o Detect and prevent fraud.
o Undertake financial audits.

o Negotiate terms with small suppliers.

Qualification Required:

o Pursuing Chartered accountant course from ICAI or pursuing Bachelor’s degree

in Finance from a recognized institution.
o Entry for all graduates and post-graduates from recogonized university on
company’s invitation.
o Aptitute for math and proficiency with computers.
o Strong written and verbal communication.
o High level of responsibility, accuracy and efficiency.

Skills Required:

o General business knowledge and awareness.

o Self-motivation and commitment, in order to combine work with study.

o Time management and organizational skills

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o Interpersonal and communicational skills.

o Strong problem solving skills

o Strong with numerical and Accounting mathematics.

o Trustworthiness and integrity.

Task as an Intern:

o Assisting with Auditing work.

o General clerical work.
o Preparing financial reports.
o Preparing tax returns
o Attract customers to the firm.
o Negotiation with small and basic service providers.
o Cross checking the financial reports, balance sheets, audit accounts and
reporting to higher official for approval.

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 CHAPTER 3

Analysis of Job done

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Job profile and activities performed:

I was included as a team member in various audit and consulting assignment where
my job and responsibility included preparation of working papers, preparation of
trail balance and financial statements, filing e-returns for taxation purpose and
gratuity fund calculation. All these activities that I have performed during my
internship program are part of different services of the firm offered by the firm to
its valued clients or customers. These activities are the contents of the firm’s
activities which helped in providing services to its clients or customers.

o Preparation of audit papers:

I prepared audit working papers. Various doubtful entries were noted down on
working papers. Various entries existed without supporting document and evident
were noted down. Some transaction entries which required thorough checking of
its supporting documents such as Memorandum of Understanding (MoU),
insurance policies and agreement papers were noted for the purpose of reminder
for checking of the supporting details later. The audit working papers comprises of
the link between the auditor’s report and client’s record.

o Preparation of Trail balance and Financial

statements:

I assisted in preparations of the trial balance and financial statements of the sanjay
k singhal & co. Trial balance refers to the summary of balance of all the accounts

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to make sure that books are fully balanced.These are balanced to further prepare
the financial statements like Profit/loss account etc.

o Filing of E-returns for taxation purpose:

I assisted in filing up forms for the e-returns on the website of income tax
department and Goods and services tax , Government of India. In order to know
the essentials of filing the e-returns and what is filing e-returns we have to know
the provision for payment of tax under Income tax Act .The permanent employee
of the firm always checked the forms of e-filing returns at the end.

Working over the WEEKS of internship:

WEEK 1:

In the first week of my summer internship , I was presented with all taxation and
auditing administrators, my colleagues, my group pioneer and with
deals/showcasing director. In this week organization gave me preparing and
showed me every one of the items, administrations which are being offered by
Sanjay K Singhal & CO. with the goal that I can understand the issues or enquiry
of customers, clients, I can give or give all fundamental data, information about
particular items. Organization trained me how to introduce myself before clients,
how to full-fill their requirements and their issues, how to make a client

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information base and primary concern how to make a decent association with
clients.

WEEK 2:

In week 2 company present me on their SKS office as a taxation intern, in this

week my work was to attend customers coming to office with aim of financial
service, understanding their needs and giving solutions and answers according to
their needs and enquiries. My main aim in this week was to close the deal with the
client or customer by satisfying their needs, problems. Basically, in this week I had
to apply all my knowledge and learning given by company to crack or close a deal
with clients or customers by satisfying their problems and creating a long-term
relationship with customers.

WEEK 3:

In week 3,I as financial intern, was solving the problems and attending the
customer’s enquiry, closing the deals, providing information to the interested
customers. The main work in this week was to represent myself as a finance and
tax executive in front of various people and creating a customer data base so that
company can use it and crack better sales. Basically I was involved in deals that
were for lower priority for firm.

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WEEK 4:
In week 4 my main work was to help in preparing financial statements and
cashbooks for the customers. The customer data base which I prepared was used in
this week. As a company finance executive I make calls to the interested customers
provided best possible discounts, offers and tried my best to crack or close the
deals with the customers and in this week. Basically, in this week I worked on my
customer data base which I prepared in the promotional event.

WEEK 5:

In this week I was taken to Chartered accountants exhibition along with my team
mates. Not only I got chance to interact with clients and customers but also we
were given opportunity to present Sanjay k singhal & co. in front of audience,
moreover we were being educated about types of financial services.

WEEK 6:
In this week I worked on my target, I tried my best to complete target which was
given by my team leader CA nikul garg. I attended customers in Office. I attended

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customers calls, mails, having enquiry about any service. I ask for some discounts
and offers from my mentor for my clients and customers so that they can feel more
satisfied and close deal with the assistance of me only. I asked for a feedback,
suggestions and opinions.

WEEK 7:
In this week I worked with one of my group members along with team leader and
finance executive on finding the ways of promoting the services provided by the
firm.

WEEK 8:
This was my last week of internship, so there very less work was given to me by
my team leader. In this week my main work is to deposit all the record, customer
data base, and all the information about the customers which I have observed,
captured, record to my team leader. I was asked to give a summary on the accounts
I worked , returns I filed. On my last day of internship my team leader greeted me
for my work and took me for a lunch in restaurant.

So, this was my overall summary of job or internship which I have done under the
guidance of CA NIKUL GARG.

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 Chapter 4

Learning Outcomes

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While working with Sanjay K Singhal & co as an Intern I got lot of knowledge, I
got nourishment on my skills, I got a lot of ideas and tried my best to learn
something new every time as much as I can, moreover it helped me a lot in gaining
knowledge, experience. The knowledge, skill which I got from this internship will
definitely going to help in future. Some of the learning outcomes are:

o Inter-personal Skills:
I am more proactive and curious to ask questions whenever I faced any doubts
during my training. I was always curious because I thought of opportunities to
learn from and grab every insight possible from them. I kept an open mind while
learning anything new about auditing and filing the returns. I consulted my seniors
and the task was made easier with them explaining to me on what should I do. I
will always be grateful to them because they made me understood everything very
patiently.

Working as an intern has helped me a lot on how to be more determinant.

Whenever I faced any setback it enabled me to move on and become a stronger
person. An example was when I was a auditor for a small client, but when I saw
my review points, I wasn’t disappointed rather I accepted that it was my first
attempt.

o Teamwork:

Making a team spirit is necessary for a team to come along and achieve a shared
goal-quality audit. A feeling of being a team is important in auditing work. It
enhanced our skill of co-ordination, communication and in a way allows us to see
the bigger picture. I learnt to be a better team player when I was involved firstly in
an audit task with my mentor and other colleagues. I realised the value and
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meaning to trust when my colleagues were assigned different sections of the audit
papers, hence we have to trust each other as a team that they will do their work
perfectly as when our works are mutually linked together. I was also involved in a
group presentation where my team members have to present the services which
were offered by firm to clients. We were asked to explain what other person
presented to our chemistry came to play.

o Communication Skills:
Effective communication is the key and very important element in the auditing and
preparation of financial reports and filing tax returns. Without effective
communication, no work can be accomplished as targeted. Keeping up with good
communication also helps to develop an image in the mind of the clients.

I learnt the importance and significance of effective communication as I was asked

to ask for source documentation for further work from a client who knew very
basic English as he was basically from Bengali descent. I had to use very basic
English words so that he would understand me and provide me with what I needed.
He also questioned me about the need for the sales contracts and invoices and I
tried to explain the process to him. Only by asking right questions and carefully
listening to the responses I obtained the required information and issue was
discussed.

As intern, it helped me improve my communication skills because I had to

communicate daily with various managers, seniors, and clients on the job. I always
was more cautious of my communication when I communicated with my seniors.

o Critical problem solving skills:

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Many times, I have to think in dealing with the problem of client and even the
problem of team mentor in financial activities. I used my mind a lot in solving
problems, enquiries of people sometimes I even visited to the customer’s place so
that they can be satisfied. Every customer has different queries and problems so in
dealing with queries and problems of clients I had to use my mind.

o Time management skills:

I learned how to manage time, how to deal with various clients at the same time,
moreover, I managed important clients as well as queries of people coming through
mails, phones at the same time. I had also prepared customer data base while
solving the queries of people or clients.

o Dealing with the clients:

Through this internship I learn to dealt with every kind of clients. Sometimes there
was a situation when client was very aggressive and short tempered but I learn to
dealt with customers, to satisfy their queries and closing the deals with them. Even
sometimes there was a situation where customer is emphasizing on bargain, its
understood that someone is paying his/her money so he/she will try to bargain but I
tried my best to give them best possible offers and closing the deals.

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 Chapter-5

Suggestions

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 Client satisfaction suggestions:
Hire the right people, people who complement (not duplicate) your skills, and fit
your culture. As long there is a good cultural, don’t be afraid to hire people who
know more than you. Outsource to buy expertise you can’t afford in-house, and to
perform non-strategic business functions.

o Healthcare & other benefits:

With a strong focus on employee’s health and overall well-being, lifestyle

assessment checks, dental/medical/eye check s, life-skill workshops, stress
management through yoga, meditation, panic healing, check-up camps,
physiotherapy should be undertaken. The path of comparable companies. If you
have a good reason for doing certain things differently, make sure you can
articulate your reasoning.

 Billing process should be rapid, cards should be accepted.

 No client like waiting, so customers should be attended properly.
 All executives should learn to speak English properly because that gives an
impact.
 Proper training must be given to employees so that they can solve the queries of
client and can attract client.

o Create emotional connect with customers:

Well, the best customer experiences are achieved when a member of your team
creates an emotional connection with a customer. One of the best examples of
creating an emotional connection comes from Zappos, when a customer was late
on returning a pair of shoes due to her mother passing away. When Zappos found
out what happened, they took care of the return shipping and had a courier pick up
the shoes without cost. But Zappos didn’t stop there. The next day, the customer

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arrived home to a bouquet of flowers with a note from the Zappos customer service
team who sent their condolences.

o Capture customer feedback in real time:

Send a follow up email to every customer using post-interaction surveys and

similar customer experience tools to automate the process. Of course, it’s possible
to make outbound calls to customers in order to gain more insightful feedback. It’s
also important to tie customer feedback to a specific customer support agent, which
shows every team member the difference they are making to the business

o Use a quality framework for development of your team:

By following the steps above, you now know what customers think about the
quality of your service compared to the customer experience principles you have
defined. The next step is to identify the training needs for each individual member
of your customer support team.Many organizations assess the quality of phone and
email communication; however, a quality framework takes this assessment one
step further by scheduling and tracking your team’s development through
coaching, eLearning and group training

 Employee satisfaction suggestions:

o Never be afraid to be different:

Investors are conservative by nature and will probably want you to follow then go
for it.

o Rewards:

Various reward and recognition programs should be undertaken to ensure that

innovation, creativity, leadership and team work is rewarded along with individual

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contributions. Fast track growth paths are created for high performers through
rewards and recognition.

o Ease Commuting Stress:

"Bad commutes are a major source of unhappiness. People feel frustrated,

powerless, and stressed," states Rubin. Employers should consider ways to
decrease commuting stress. For instance, employers could stagger work times to
avoid heavy traffic. Review beginning and ending times and determine if the
specific times or the amount of people arriving at each time can be adjusted. In
addition, review late arrival policies. If employees are severely reprimanded for
arriving late, they will be much more stressed during a bad commute and will
arrive at the office miserable. Another possibility is to offer telecommuting
options. This eliminates the necessity of commuting and allows employees to work
where they are most comfortable. Telecommuting also has a variety of benefits for
the employer such as reduced costs.

o Stop wasting time:

Tight deadlines are another major source of stress for many employees. Employers
can ease this stress by freeing up more time. For instance, employers can make
meetings shorter and more efficient. Consider tricks that sound silly but are
actually effective such as having a meeting with no chairs. People will be more
likely to stick to the necessary agenda when they have to stand the entire meeting.

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Whenever possible, substitute conference calls for meetings. To reduce
unnecessary chitchat, make calls before lunchtime or at the end of the day. People
will want to cut to the chase, so they can go to lunch or get home. Another idea is
to create organizational systems that improve efficiency. Clutter and confusion are
major time zappers. Organized offices and systems ease stress, save time, and
increase productivity.

o Encourages social connections:

Tight deadlines are another major source of stress for many employees. Employers
can ease this stress by freeing up more time. For instance, employers can make
meetings shorter and more efficient. Consider tricks that sound silly but are
actually effective such as having a meeting with no chairs. People will be more
likely to stick to the necessary agenda when they have to stand the entire meeting.
Whenever possible, substitute conference calls for meetings. To reduce
unnecessary chitchat, make calls before lunchtime or at the end of the day. People
will want to cut to the chase, so they can go to lunch or get home. Another idea is
to create organizational systems that improve efficiency. Clutter and confusion are
major time zappers. Organized offices and systems ease stress, save time, and
increase productivity.

o Promote good health:

Chronic stress has a variety of negative side effects such as weight gain, lower
immune system, increased risk of disease, and fatigue. Employers should
encourage employees to reduce stress levels and improve their overall health. The
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first step is to educate employees on health topics. Provide reading materials or
offer seminars. People can't make positive changes if they don't know what to
change. Once employees know about health topics such as stress, exercising, and
healthy eating, start a health-related competition such as the Biggest Loser. This
offers employees motivation and a support system. If the entire office is involved,
employees will be more likely to accomplish their goals. To help employees make
positive lifestyle changes, have a kitchen equipped with a refrigerator and
microwave to prepare healthy meals. Research shows that preparing food is
healthier than eating out. Also, encourage breaks throughout the day. Even small
amounts of exercise throughout the day are beneficial. According to Dr. Oz,
"Exercise releases serotonin and dopamine, the feel-good hormones that become
blocked during stress. Walking stairs is a great workout. One study showed that
walking stairs 7 minutes a day reduces the risk of heart disease by two-thirds." If
possible, offer a company discount on gym memberships. This will encourage
employees to make positive choices outside of the office and to exercise regularly.

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