Part A

Introduction to the project

Controlling travel and entertainment as well as business meal costs is the responsibility of each
employee. It is expected that good judgement will be exercised when authorizing the use of
and/or when utilising Company funds

Future Group is a corporate group and nearly all of its businesses are managed through its
various operating companies based on the target sectors. For e.g. retail supermarket/hypermarket
chains Big Bazaar, FBB, Food Bazaar, Food Hall, Hometown etc. are operated by its retail hand,
Future Retail Ltd, while its fashion outlets Brand Factory, Central, Planet Sports etc. are operated
via another of its subsidiaries, Future Lifestyle Fashions. With these many fashion outlets and
supermarket, the group also promotes respectively, its fashion brands like Indigo Nation,
Spalding, Lombard, Bare etc., and FMCGs like Tasty Treat, Fresh & Pure, Clean Mate, Ektaa,
Premium Harvest, Sach etc. It also has operating companies to cater specifically to internal
financial matters and consulting within its group of companies.

Future Group will reimburse employees for their reasonable expenses incurred in connection
with necessary and authorised Company business. The purpose of this policy is to establish
consistent, reasonable, and accountable standards to record and control the cost of business travel
and entertainment.

As travel is an inherent part of doing business, employees are hired with the expectation that they
are willing to travel in accordance with these guidelines and provide supporting documentation.

This policy covers all Future Group employees as well as any individuals under contract with
Future Group who incur, authorise, or reimburse Company funds. This policy shall be
implemented on a worldwide basis; however, this policy may be adapted to meet local
requirements within individual countries. The Chief Financial Officer (CFO) must first approve
any policy changes.

Non compliance with this policy may result in delayed/non-reimbursement and / or disciplinary
action up to and including termination of employment.

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Brief Company Profile

Future Group brings multiple products, opportunities and services to millions of customers in
India. Through more than over 22 million square feet of retail space, we serve customers in more
than 250 cities across the country. Most of all, we help India shop, save and realize dreams and
aspirations to live a better quality of life every day.

Future Group understands the soul of Indian consumers. As one of India's retail pioneers with
multiple retail formats, we connect a diverse and passionate community of Indian buyers, sellers
and businesses. The collective impact on business is staggering: Almost 500 million customers
walk into our stores each year and choose products and services supplied by over 30,000 small,
medium and large entrepreneurs and manufacturers from across India. And this number is set to
grow. Future Group employs around 60,000 people directly from every section of our society.
We source our supplies from enterprises across the country, creating fresh employment,
impacting livelihoods, empowering local communities and fostering mutual growth.
We believe in the 'Indian dream' and have aligned our business practices to our larger objective
of being a premier catalyst in India's consumption-led growth story. Working towards this end,
we are ushering positive socio-economic changes in communities to help the Indian dream fly
high and the 'Sone Ki Chidiya' soars once again. This approach remains embedded in our ethos
even as we rapidly expand our footprints deeper into India.

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Brief details of the top management

● Top Management :-

Name
Mr. Kishore Biyani
Mr. Rakesh Biyani
Mr. S Doreswamy
Mr. Anil Harish
Mr. Bala Deshpande
Mr. V.K. Chopra
Mr. Vijay Biyani
Designation
Managing Director
Joint Managing Director
Non-Executive Independent Director
Non-Executive Independent Director
Non-Executive Independent Director
Non-Executive Independent Director
Executive Director

 Kishore Biyani is the Managing Director of Future Retail Ltd and the Group Chief
Executive Officer of Future Group. Considered a pioneer of modern retail in India, Kishore’s
leadership has led Future Retail’s emergence as India’s leading retailer operating multiple retail
formats that cater to the entire basket of Indian consumers.
Kishore Biyani led the company’s foray into organised retail with the opening of the Pantaloons
family store in 1997. This was followed in 2001 with the launch of Big Bazaar, a uniquely Indian
hypermarket format that democratized shopping in India. It blends the look and feel of the Indian
bazaar with aspects of modern retail like choice, convenience and quality. This was followed by
a number of other formats including Food Bazaar, Central and Home Town.
Kishore Biyani advocates ‘Indianness’ as the core value driving the group and the corporate
credo ‘Rewrite Rules, Retain Values.’
Regularly ranked among India’s most admired CEOs, he is the author of the book It Happened in
India. He has won numerous awards from government bodies and the private sector in India and
abroad and is on the board of a number of bodies, including the National Innovation Foundation
in India and the New York Fashion Board.

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 Mr. Rakesh Biyani- Joint Managing Director
Mr. Rakesh Biyani is a Joint Managing Director of Future Retail Limited. He has been
associated with the company for over 20 years.
In his executive role as the Joint Managing Director, Mr. Rakesh Biyani leads the management
and expansion of the company’s flagship formats, Central, Big Bazaar and Food Bazaar. Rakesh
is actively involved in Category Management, Retail stores operations and Information
Technology. Rakesh Sir has done an Advanced Management Program course from Harvard and
is a commerce graduate from HR College, Bombay.

 S Doreswamy -Non-executive Independent Director

S Doreswamy is a Non-executive Independent Director of the Company. He has vast experience

in banking and finance. He retired as Chairman and Managing Director of Central Bank of India.
He is on the Boards of various public companies including Ceat Ltd., Hexaware Technologies
Ltd., and Sakthi Sugars Ltd.He holds a Bachelors degree in Science and Law.

 Anil Harish-Non-executive Independent Director

Anil Harish is a Non-executive Independent Director of the Company. He is a partner at D.M.
Harish & Co., Advocates & Solicitors. He specialises in Income Tax, FEMA and property
matters. He is on the Board of a number of public limited companies like Hotel Leela Ventures
Ltd. and Mahindra Lifespace Developers Ltd. among others.
He holds an LLM degree from the University of Miami, USA.

 Bala Deshpande - Non-executive Independent Director

Bala Deshpande is a Non-executive Independent Director of the Company. She has multi-
industry exposure and has worked with FMCG companies like Bestfoods, Cadburys Ltd. and
ICI. She was also nominated to the Women Leadership forum held in Bestfoods, New York. She
is on the Board of Info Edge (India) Ltd.
She holds a Masters degree in Economics and Masters in Management Studies from the Jamnalal
Bajaj Institute of Management, Mumbai.

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 Vijay Kumar Chopra -Non-executive Independent Director

Vijay Kumar Chopra is a Non-executive Independent Director of the Company. He has over 31
years of experience in the banking industry. He was Chairman and Managing Director of SIDBI
and Corporation Bank. His last assignment was with SEBI as Whole-time Member. He is on the
Board of a number of public limited companies like Rolta India Ltd. and Havells India Ltd.
among others.
He is a fellow member of the Institute of Chartered Accountants of India (ICAI) by profession
and is a Certified Associate of Indian Institute of Bankers (CAIIB).

 Vijay Biyani -Executive Director

Vijay Biyani is an Executive Director of the Company. He brings more than 25 years of
experience in textile, yarn and ready-made apparels business. He is actively involved in the
financial and administrative functions of the Company.

Size of the organization

Net Income of the company: 200.6018 billion (US $ 3.0 billion) as of March 2013

Number of employees : 35,070

Divisions: Future Retail Ltd.(BSE: 523574,NSE: FRL), Future Lifestyle Fashion Ltd., Future
Consumer Enterprise Ltd., Future Innoversity Ltd., Future Supply Chains Ltd., Future Brands
Ltd., Future Capital Holdings Ltd.

Company operates multiple retail formats in the hypermarket, supermarket and home segment of
the Indian consumer market including:

Big Bazaar – A unique Indian hypermarket chain.

Fashion at Big Bazaar – Affordable fashion destination aimed to make India thoda aur stylish.

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Food Bazaar – A hitherto unseen blend of a typical Indian bazaar and International supermarket
atmosphere.

Foodhall – A premium lifestyle food destination.

eZone – eZone brings to you the latest in electronics at the lowest prices.

Home Town – One-stop destination for every need of the aspirational Indian home owner.

Shareholding Pattern

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VISION AND MISSION OF THE ORGANIZATION

Vision:-

● Respect and humility in dealing with everyone within and outside the organisation
● Flow by constantly learning and being inspired from the universal laws of nature
● Believing in oneself and doing things the Indian way
● Introspection for continuous learning, self-development and personal excellence
● Openness and adaptability by accepting new ideas and knowledge, and being proactive
in meeting challenges emerging from changing business scenarios
● Valuing and nurturing relationship with customers, business associates, stakeholders,
communities and the society leadership in thought and in business
● Simplicity and positivity to foster innovation, speed and imagination

Mission:-

● We share the vision and belief that our customers and stakeholders shall be served
only by creating and executing future scenarios in the consumption space leading to
economic development.
● We will be the trendsetters in evolving delivery formats and making consumption
affordable for all customer segments – for classes and for masses.
● We shall infuse Indian brands with confidence and renewed ambition.
● We shall be efficient, cost- conscious and committed to quality in whatever we do.
● We shall ensure that our positive attitude, sincerity, humility and united determination
shall be the driving force to make us successful.

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Industry Analysis

Pestle Analysis

PESTEL analysis is a simple and effective tool used in situation analysis to identify the key
external (macro environment level) forces that might affect an organization. These forces can
create both opportunities and threats for an organization. Therefore, the aim of doing PEST is to:

● find out the current external factors affecting an organization;

● identify the external factors that may change in the future;
● to exploit the changes (opportunities) or defend against them (threats) better than
competitors would do.

PESTEL analysis is also done to assess the potential of a new market. The general rule is that the
more negative forces are affecting that market the harder it is to do business in it. The difficulties
that will have to be dealt with significantly reduce profit potential and the firm can simply decide
not to engage in any activity in that market.

POLITICAL FACTORS:
Political factors like government policies and regulation of the retail industry affect its revenue
and profitability. The political environment affects so many things including economic
environment of a nation and international supply chains of businesses. Political stability means
better business because political disruption leads to the disruption of supply chain and sales.
Moreover, political issues can also become hindrance to smooth business operation .India still
has difficult laws and restrictions on Foreign Direct Investments. All these factors can make it
difficult for the retail brands to operate profitably in the international environment. The
government of India’s digital India campaign has led to the development various online stores
(Ecommerce sites) which has affected the physical stores in India.

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ECONOMIC FACTORS
Economic factors are always very important in the context of trade and business. The state of the
world economy decides the state of sale and profits for the industry. The world economy has
rebounded and is growing. Economic growth means that people are going to spend more on
shopping. However, even in the time of recession, the retail industry had maintained impressive
sales. In 2015, it achieved global sales of $20.8 trillion. Based on the economic scenario
worldwide, the retail industry is predicted to have grown to $28 trillion by 2020. The impact of
GST has been positive on the retail industry. The labor market and the economy both are in very
good shape and an increase in disposable income has also boosted consumer confidence. All of
these are very good signs for the retail industry. The better the shape of the economy, the higher
will be the revenue and profits for the retail brands. Better economic scenario means a growth in
sales and overall better shape of the retail sector

SOCIO - CULTURAL FACTORS: -

Social trends are also a major impact on the retail sector and its profitability. Demographic
changes and changing consumer preferences are going to have a deep impact on retail sector.
The millenials have different preferences than the previous generation. When it comes to
customer service they want more personalized service. Retailers will have to change the way
they serve their customers and design their service experience better to lure in millenials in
higher numbers. Demographic changes have also affected the popularity of products. The
demands of the new generation are much different than the older generations. The importance of
customer service is growing and a lot of retailers’ popularity will depend on how well they have
crafted their customer experience. Due to the increase in the population the retail industry is
becoming more organised with organised retail chain to serve the need of the growing
population.

TECHNOLOGICAL FACTORS: -
The growth of digital technology has also increased the number of players in the retail industry.
Technology affects several things including user experience. If e-retail has enjoyed exponential

9
growth then it is because of the additional convenience provided by technology. More and more
retailers are trying to make better use of technology to make the customer experience better. Due
to the technological changes more and more E-commerce sites has emerged for customer delight.
Even the international goods are delivered now. The technological development has led to
tracking of goods online using tracking devices.

ENVIRONMENTAL FACTORS: -
Like the other industry sectors, the retail sector is also affected by the sustainability concerns.
Packaging, waste reduction, renewable energy and several other concerns related to
sustainability are there before the retail sector. Supporting the government of India’s ban plastics
campaign, the retailers have started using the cloth bag.

LEGAL FACTORS: -
The legal factors are also just as important for the retail sector. There are so many laws related to
business and employment that affect it. Labor laws are particularly a big pain for the retailers
who have to maintain low prices to remain competitive. Retailers are more careful due to
Consumer Protection Act as they have to abide by all the rules and regulation so that the
consumers don’t feel exploited.

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Porter’s Five Force Analysis

To determine industry attractiveness and long-run industry profitability of the Indian FMCG
Industry, we chose to apply the Porter’s five forces in our analysis. Porter’s five forces are:
(1) Barriers to Entry and exit
(2) Threat of substitutes
(3) Buyer bargaining power
(4) Supplier bargaining power
(5) Industry Competition

1. Barriers to Entry and exit: The retail is been divided into organised and unorganized. The
threat is low in the organised retail. The threat is very high in the unorganised sector. Huge
investments in setting up distribution networks and promoting brands and competition from
established companies.

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2. Threat of substitutes: The retail e-commerce sites are becoming threat for the retail industry.
Even the international e-commerce sites are also introduced. Hence, threat of substitute is high in
the industry.

3. Buyer bargaining power: Highly competitive market. Companies keep on reducing the
prices due to various competitors. The price is moderately high for the same products
which are highly in demand.

4. Supplier bargaining power: Prices are generally governed by international commodity

markets, making most FMCG companies price takers. Large number of competitors for the same
product, who subdued the demand for their product.

5. Competitive rivalry: Competitiveness among the Indian FMCG players is high. With more
MNCs entering the country, the industry is highly fragmented.
Organised retail is dominated by unorganized.

PORTER'S GENERIC COMPETITIVE STRATEGIES

A firm's relative position within its industry determines whether a firm's profitability is above or
below the industry average. The fundamental basis of above average profitability in the long run
is sustainable competitive advantage. There are two basic types of competitive advantage a firm
can possess: low cost or differentiation. The two basic types of competitive advantage combined
with the scope of activities for which a firm seeks to achieve them, lead to three generic
strategies for achieving above average performance in an industry: cost leadership,
differentiation, and focus. The focus strategy has two variants, cost focus and differentiation
focus.

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1 Cost Leadership
In cost leadership, a firm sets out to become the low cost producer in its industry. The sources of
cost advantage are varied and depend on the structure of the industry. They may include the
pursuit of economies of scale, proprietary technology, preferential access to raw materials and
other factors. A low cost producer must find and exploit all sources of cost advantage. If a firm
can achieve and sustain overall cost leadership, then it will be an above average performer in its
industry, provided it can command prices at or near the industry average.

2 Differentiation
In a differentiation strategy a firm seeks to be unique in its industry along some dimensions that
are widely valued by buyers. It selects one or more attributes that many buyers in an industry
perceive as important, and uniquely positions itself to meet those needs. It is rewarded for its
uniqueness with a premium price.

3 Focus
The generic strategy of focus rests on the choice of a narrow competitive scope within an
industry. The focuser selects a segment or group of segments in the industry and tailors its
strategy to serving them to the exclusion of others.

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The focus strategy has two variants.
(a) In cost focus a firm seeks a cost advantage in its target segment, while in
(b) Differentiation focus a firm seeks differentiation in its target segment. Both variants of
the focus strategy rest on differences between a focuser's target segment and other segments in
the industry. The target segments must either have buyers with unusual needs or else the
production and delivery system that best serves the target segment must differ from that of other
industry segments. Cost focus exploits differences in cost behaviour in some segments, while
differentiation focus exploits the special needs of buyers in certain segments.

Conclusion:
As the company is a Conglomerate, it belongs to the Mass segment of the market.
Therefore, the focus will be on “Cost leadership” and not on “Differentiation”.

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Company Analysis

SWOT Analysis

A SWOT analysis is a high-level strategic planning model that helps organizations identify
where they’re doing well and where they can improve, both from an internal and external
perspective. It is an acronym for “Strengths, Weaknesses, Opportunities, and Threats.”

You typically want to conduct a SWOT analysis at the beginning of your strategic planning
process or during a strategy refresh. Your entire leadership team should be heavily involved,
because they should have the ability to look across your organization and offer insight into your
competitive environment and/or business landscape. When the leadership team offers appropriate
recommendations regarding your strengths, weaknesses, opportunities, and threats, you will end
up with a SWOT analysis that has the credibility to be used constructively in the strategic
planning process.

● Strengths :-

1. Wide presence in India covering almost all major cities and towns

2. Efficient, cost conscious committed quality service

3. High brand equity in evolving market

4. Variety of products under single window increasing the chances of customer time and choices

5. Has an employee base of over 35,000

6. The company provides everyday low prices, which attract customers, and has a huge
investment capacity.

7. It offers a family shopping experience, where entire family can visit together.

8. Available facilities such as online booking and delivery of goods

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● Weakness :-
1. Stiff competition from current players in the market like Reliance retail, K Raheja
Corp Group, Birla group retail etc.

2. Heavy investment is involved

3. Due to unavailability of land in most of the areas, the company has difficulties in
conducting operation in these places

4. Due to its big setup they cannot establish their operations in major cities

● Opportunities :-
1. Evolving customer preference in recent year

2. As the company is part of organized retail it comes with umpteen opportunities such as
low pricing

3. Mergers and acquisitions reduces the market competition. Eg merger with Hypercity

● Threats :-
1. Global players trying to enter into Indian market

2. Low priced product could be perceived as low quality product

3. Different kinds of taxation policy which are still not defined by Government

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BCG MATRIX OF FUTURE GROUP

What is BCG MATRIX?

The BCG matrix (or shared growth matrix) is a corporate planning tool that is used to portray the
company's brand portfolio or SBU in a quadrant along the relative axis of market share
(horizontal axis) and speed of Market growth (vertical axis). The growth-participation matrix is a
business tool, which uses the relative market share and industry growth rate factors to assess the
potential of the trademark portfolio and suggest additional investment strategies.

The BCG Matrix is a framework created by the Boston Consulting Group to assess the strategic
position and potential of the brand portfolio. The business portfolio is classified in four
categories according to industry attractiveness (industry growth rate) and competitive position
(relative market share). These two dimensions reveal the potential profitability of the trading
portfolio in terms of the cash needed to support the unit and the resulting cash. The general
purpose of the analysis is to help understand the brands that the company must invest in and
which ones should be sold.

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Star

Star generates a large amount of cash due to its strong relative participation in the market, but
also consumes a large amount of cash due to its high growth rate; therefore, the cash in each
direction redeems approximately. If this star can maintain the large market share, it will become
the cash cow when the market growth rate decreases. In Future Group, the star is Big Bazaar,
Food Bazaar and eZone, which generate a large amount of cash due to their high growth rate,
they are assured and they keep track of their constant performance and this allows them to
extract more cash from your own products from home.

Question Mark

Question marks grow rapidly and consume a lot of money, but because they have a low market
share, they generate more cash. The question mark (also called a "problem child") has the
potential to gain market share and become a star, and eventually become a cash cow when
market growth slows. In Future Group, their main cash consumption is on Future Bazaar, Home
Town, Brand Factory, Furniture Bazaar etc. which consumes lots of cash on buying out the
product, which on the other hand does not have too much of hold in the market, because the
market that these goods possess are the basic ones. Because they have low market shares and do
not generate much of a cash, they result in large net cash consumption.

Cash Cow

Products that are in areas of low growth but for which the company has a relatively large market
share are considered "cash cows", therefore, the company must milk the cash cow for as long as
it can. For Future Group, their cash cow is now Hyper City and Central in which they recently
acquired Hyper City for an undisclosed amount, they have forecasted that this will help Future
Group to get in more revenue as the investment in this retail segment is sky high. This has also
helped many foreign brands to penetrate into India and tie up the business which will indirectly
help the Future Group to establish the market under their brand which is called as Fashion
Bazaar. Hyper City is also developing more market growth rate in sales which will help them to

18
sustain from cash flow perspective. It is also noted that due to this acquisitions by Future Group
it will lead to higher contribution in apparels industry as that of its rivals.

Dogs

Dogs have low market share and low growth rate and thus neither generate nor consume a large
amount of cash. Dogs are called as cash traps where these money where invested could have
been used elsewhere, where it can be used for other purposes that has a little potential. One such
is Future General Insurance, this has got low growth rate and thus does not create or generate
large amount of cash. This company mainly holds the group investment in subsidiaries and joint
ventures including insurance and textile manufacturing businesses. As this is an underperforming
as compared to other branches of business where they are more focused I n creating a brand of
their own. Thus, there is a difficulty in chunking more profit out of it. Due to this, there are even
possibilities of shutting down of businesses where the trapped cash flows can be liquidated and
can be used to invest in some other purposes.

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ANSOFF MATRIX

The Ansoff product / market growth matrix suggests that a company's growth attempts depend
on whether it markets new or existing products in new or existing markets. The product of the
product / market matrix of Ansoff is a series of suggested growth strategies.

Existing Market Existing Product - Market Penetration

Through market penetration with the existing market Future Retail has now emerged with
gradual increase in number of stores. Staples and Future Bazaar are their main and primary key
successor for their development. As through this they can penetrate the market with even in the
developing areas, with strategically priced schemes. This will help them to flourish in the
market, penetrate and outperform with the rivals.

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Existing Market New Products - Product Development

This helps the market to develop and test their new products in their existing market. In Future
Retail, they have introduced their own in-house EKTAA branded rice in 5 variants ranging from
the mid-range to the premium class rice with affordable price.

Future group has also introduced a new chain of knowledge called as ‘Future Knowledge
Service Ltd’ helps the future group to know about their current position about their assets,
growth and investments in the market.

Future Group as also a new segment of market to cater supply chain market called as, ‘Future
Supply Chain’ market.

Future Supply Chain a segment of Future Group has solved many problems for Warehousing,
Cold Chain Warehousing and Point – to – Point; this has led Future Group to enter into new
market.

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New Market Existing Products – Market Development

Future Retail has entered into new market with existing products; with the acquisition of Brand
Factory and Hyper City they have developed a new strategy to build-up new market in existing
product.

New Market New Product - Diversification

With the cut throat competition, Future group has diversified itself in various other fields like
providing Supply Chain Management Solutions, providing consultations to BPO industry, media
and insurance. Their core competence is Future Generali Insurance where their core job is to
settle with an average of 2.1L claims every year. They have 125+ location pan India, and also
2000+ active corporate clients, and also 7500 agents represent them all over the country.

MC Kinsey’s 7s Framework

What is 7S framework?

7S model depends on the theory that the performance of this organization is going to be upright;
these seven elements must be consistent and mutually reinforcing. Therefore, the form can be
used to help determine what needs to be reformatted to improve performance, or to maintain
compatibility (and performance) during other types of change.
The 7-S model can be used to help us to get through a broader range of these organizational
situations wherein it will help to make a detailed analysis of any alignment which is useful to
study the different operations in an organization, for example, to help you:
● Improve the performance of the company.
● Study the potential effects of future changes within the company.
● Align departments and operations during the merger or acquisition.
● Identify the best way to implement a proposed strategy.

The objective of the model was to show how 7 elements of the company: structure, strategy,
skills, personnel, style, systems and shared values can be aligned to achieve efficiency in a

22
company. The key point of the model is that the seven areas are interconnected and a change in
one area requires changes in the rest of a company to work effectively which can be seen from
the below given model of 7S Framework.

Objectives

(To analyze how well the organization is positioned to achieve the intended objectives.)

Usage:

● Improve the performance of the company.

● Examine the likely effects changes within the company.
● Align departments and processes during a merger or acquisition.
● Determine how best to implement a proposed strategy.

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SKILLS

The training provided by the company to employees is

➢ On – Job training
➢ Off – Job training
On Job Training

➢ 30 days of induction program is conducted to each and every employee of an

organization.
➢ One year monitoring program by senior officers of different departments.
➢ Three kinds of learning are taught to the employees which are Individual learning,
Team learning and Organizational learning.
Off Job training

➢ The company having 5 institutions to conduct semi-skilled works.

➢ The company coaching seminars.
➢ HRD department conducts is program Train the Trainer and Workshop to Trainees.

STAFF

Staffing is a process of acquaint human resources for the organization and according that they
have the potential contribution to the achievement of the organization goals. Future Retail
generally prefers to have highly qualified and dedicated management professional in case of
staffing process. The staffing for the retail employees are done at the retail store which is a
backend operation, but for a highly equipped employee the staffing and recruiting is done at the
Zonal or Head Office level which is in Mumbai.

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STRATEGY
Strategy refers to the determination or purpose and basic long term objectives of an enterprise
and the adoption of a course of an enterprise and the adoption of a course and the allocation of
resources necessary to the aims. In other words, it is basically an action plan which is developed
to outperform the competitors. Future group integrated consumer goods package brings together
almost a full value chain from end to end in the food, consumer and fashion sectors. With
modern retail sales driving demand, efficiency and consumption into new categories, their
strategy is based on our deep understanding of Indian consumers. Future group understands the
diverse behavior of the Indian consumer through regional diversity, ethnic groups and
professional groups, and we constantly innovate to develop strategies that address nuances.
Future group strategy of aiming sustained growth and profitability in business are developed in 3
most important layers, they are given below:

STRUCTURE

The structure typically hierarchically arranged in the lines of authority, communication, rights
and duties of the organization. Organizational structure determines the roles, power, and
responsibilities assigned to each department and heads. This structure purely depends on the
organizational strategy. The Organizational structure of Future Retail which is then subdivided
into various other categorical brand i.e; Future LifeStyle Fashion Ltd. Future Consumer Ltd, etc

25
each of these major division is headed by the President or Vice President and the power lies in
the middle management. Future Group can be said as a set of ‘little companies’ where each
division are organized into functional group, with high division of Labour, high formalization
and centralized authority in the division managers.

SYSTEM

The organization is described as a system used for transforming input to output. At the centre of
this transformation there is always a technical core involved, which is a helping hand or also
called as the backbone of any working organization which helps from the production to till its
final product services. In Future Retail the whole system is controlled and regulated or to be
precise it is interconnected with one common software called as SAP. This system helps to track
from its production till it reaches the consumer, which revolves around whole India. The Input
are generally starts with procurements of goods and the final finished output called as product.

In Future Retail following systems are used,

➢ SAP
➢ MIRO
➢ Zimba
➢ Sahyog
➢ Samprada
More often, SAP is the core software that interconnects the whole retail, this helps to get to know
about the purchase as well as the replenishment of products and the transport of goods are also
recorded and communicated via SAP. The other software that is used is called as MIRO, which
is used to deal with upload and download of the invoices through stores. Zimba is software used
to intercommunicate within the Retail Operations it acts as a mailer just like the Microsoft
Outlook. Sahyog is an online portal for updating the transactions done through BigBazaar –
discount cards or BigBazaar profit club. Samprada is an online portal to update the transactions
which is related to gift vouchers. Their login gateway is Qwiksilver.

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SHARED VALUES

Future Retail firmly believe that our vision of serving every Indian consumer can be achieved
only if we value our values in "Assessing and caring for relationships" with our partners, vendors
and suppliers. Our partnership program aims to create an environment that combines our
strengths and partners to create tremendous value for our customers and thus promote shared
growth. Future retail also combines strengths to create a unique value proposition by sharing
consumer knowledge and product knowledge, creating a joint brand, value engineering and
developing new products. With a proven track record of developing long-term partnership
models in which everyone wins, Future Retail is a partnered with some of the most reputed
vendors and suppliers in India. They also make sure that, the values are grasped and gained in all
the employees over the organization as they believe that shared values among others will create
equality among the employees which will help to radiate same values to the customers.

STYLE

Style refers to the employees shared and common way of thinking and behavior. The
management sets the objective to the line and functional specialist and provides clear procedure
and rules of decision making. Management is the core and innermost power source. Future retail
imbibes a perfect leadership style of inculcating the shared values to all employees in the
organization. Kishore Biyani, as a leader, he considers it important that the work be done in
accordance with the procedures and legislation, but everyone can determine their own objectives
and, therefore, self-govern. This creates a pleasant work environment and a good mutual
understanding among employees and the top management. This also helps to drive the growth of
the company with positive vibes and also aids to develop a coherent relationship with all heads.

VALUE CHAIN ANALYSIS

A value chain is the entire range of activities, which includes design, production, marketing and
distribution that companies carry out to a product or service from its conception to its delivery.
For companies that produce goods, the value chain begins with the procurement of raw materials

27
used to manufacture their products, and consists of everything that is added before the product is
sold to consumers. There are primary activities and secondary activities where the primary
activities are the core things to be performed, while on the other hand secondary activities are the
one which support the existing primary activities that needs to be performed. Hence, in a nutshell
both are interconnected with each other, if one goes downlifted the other undoubtedly falls.

Primary activities are directly involved in transforming inputs into outputs and in delivery and
after-sales support.

● Inbound Logistics – In future retail material handling and warehousing are the core
operations. Inward of goods and stocking can be done in Inbound Logistics.
● Operations – Later the products are transferred to the necessary department for the
production/operation purpose.
● Outbound Logistics – Operations and Outbound logistics are interconnected with
each other. Outbound logistics include inventory system and delivery management. This also
makes sure that they deliver on time with no defect which could help them to achieve more
customer trust on their brand which indirectly builds their goodwill.
● Marketing and Sales – It deals with communication and pricing of products, future
group makes sure that they every product are priced at competitive pricing to attract the
customers and boost more sales.
● Services – This includes the customer after sales services that future group provides, if
these after sales services are poor in nature then this would affect the performance of store in
each department and could also affect the profitability in the business.
Other activities are support activities. They’re handled by the organizations staff functions and
include;

Procurement – In this process the raw materials are procured chalking down with the team and
finding the best suppliers and vendors. These also includes the best suppliers, future retail as an
organization aims at procuring the best and giving the best output. Procurement is done at the
Head Office level where they connect with the pan Indian head suppliers and get the best deal
with the cheapest price.

28
TECHNOLOGY DEVELOPMENT –

Human Resource Management – selection, promotion and placement, appraisals, rewards,

management development and Labour employee relationship.

Firm Infrastructure – general management, planning, financial activities, legal and quality
management.

Below is the flowchart of Value Chain Analysis:

29
FIRM’S INFRASTRUCTURE

Future Group has the best infrastructure with the best in technology. With the footfall of 30,000 a
month in every retail store future group serves customers in more than 250 cities across the
country through over 12 million square feet of retail space. Future Retail is the flagship company
of Future Group, India’s retail pioneer catering to the entire Indian consumption space. There are
various heads under Future Retail and they are FBB, Big Bazaar, Big Bazaar Gen Next, Hyper
City, E-zone etc.

Fashion at Big Bazaar, India’s style hub is redefining affordable fashion since 2008. From
elegant office wear to daily essentials, from versatile ethnics comfortable home wear to stylish
new range of a products, fbb curates exclusive designs for its audience under its own private
labels. With its mission to make India ‘Thoda aur stylish’. FBB is a popular youthful brand that
offers refreshing fashion trends at pocket friendly prices. The brand has strong presence across
all 7the metro cities, mini metros and also penetrates well in tier II cities.

Future Retail has renamed their brand from Big Bazaar to Big Bazaar Gen Nxt with the cutting
edge technology and state of the art operational activities.

HUMAN RESOURCE MANAGEMENT

Human Resources value is added or subtracted by the deliverables of its work. These
deliverables are cross-functional and their strategic objectives are to help insure that all other
departments achieve their business plans. Human Resources partners with the production people
to determine if the employees are properly slotted, trained, and have the tools and skills
necessary to produce the quality products or services demanded by the customers. It involves 3
main process they are;

Recruitment Process. This is the external interface of the firm, which acts as a gateway of
procuring talent for the firm. This is a very critical activity. The first impression, which is created
is here, often helps or retards the ensuing process.

Socialization- This is a very short but nevertheless critical period in the career span of an
employee. The initial period is an extremely important period. The employee takes a certain

30
amount of time to settle down in a different cultural setup with the organization that has its own
set of values and work ethos.

Performance Management - Meritocracy, the system we all support, to succeed requires all of
us, both as appraiser and appraisee, to develop an appraisal process which is objective, hence fair
and acceptable.

Future Retail also ensures and checks on timely basis whether all the employees of respected
departments are properly clustered and trained with the skills that are required, so that they give
the best quality services to the organization. It will also help the organization or retail segment to
grow, flourish and be a self-sufficient within them. Hence, taking all this factors into account and
by understanding and focusing on the needs of their internal customers, i.e. the employees and
line managers, HR is adding strength to the value chain. It is a crucial deliverable of every HR
professional. By doing this Future Group believes that, customers will appreciate and value this
focus.

31
 PART B

Objective of the study

● To understand and study the corporate travel policy of Future Group using SAP
● To gain an insight of the procedure of travel cost of the employees
● To study and understand how to reduce the cost of travelling expenses led by
employees of the company

Expected benefits

● Will help in having a clear view about how the corporate travel policy is implemented
in the company.
● To know about the processes regarding booking invoices through SAP
● Overall working of the retail sector and the working of the SOP for the company

Limitations of the study

● Time constraints: Due to shortage or less availability of time it may be possible that all
the related and concerned aspects may not be covered in the project.
● Restricted access in working of SAP
● Analysis done is limited to the availability of data.

32
METHODOLOGY

A corporate travel policy is a set of guidelines created by a company for their business travel.
Used by their travel managers and employees as they plan trips on behalf of the company, to
typically outlines protocol on travel. For example, the requirements needed to book business
class seats. The main objective of an effective travel policy is to keep travelers safe, while also
adhering to the company’s guidelines. Reducing travel costs is usually a high priority too. If a
corporate travel policy is easy to understand, oversees traveler’s security, and up-to-date; overall
compliance of the policy will likely be higher as well.

An effective travel policy finds the right balance of rewards and pleasures for the traveler, while
also limiting what is ultimately unnecessary. For example, most companies have found that
travelers are more compliant with the policy if they keep their accumulated flight and hotel
reward points from their trips. A restriction may be a certain length of flight is requires before
business class seats are considered for travel. By understanding the desires of your traveler, and
setting reasonable limits, a company is more likely to find the middle balance of corporate travel
policy.
In case of Future Group, certain travel norms are to be followed:

There are three types of travel:

Local Travel within location in India: The employee can travel within the Municipal
Corporation limits.

Local/ Domestic Travel outside local limits but within India - Travel outside the local limits
as defined above outside the state, but within India.

International Travel – The employees who travel outside India.

The company has setup a certain band criteria of the employees They have been grouped
under 5 different Bands, based on the position they occupy and the role they play.

33
Band 1 - Coordinators

Role: Implementation Performs activities that are routine in nature and applies narrowly defined
skills. Comprises of every one below the rank of Executive.

Band 2 - Specialist

Role: Highly Capable Individual makes productive contributions through talent, knowledge,
skills and good work habits.

Designation:

• Executive

• Senior Executive

Band 3 - Mid-Management

Role: Contributing Team Member Contributes individual capabilities to the achievement of

group objectives and works effectively with others in a group setting

Designation:

• Assistant Manager

• Deputy Manager

Band 4 - Management Advisory

Role: Competent Manager Organizes people and resources towards the effective and efficient
pursuit of predetermined objectives.

Designation:

• Manager

• Senior Manager

Band 5 - Strategic

Role: Directional Provides strategic direction to the functional team, aligning them with the
Organization objectives.

Designation:

• Chief

34
• Head

International Travel - Travel outside India

Maximum Tel /
Mode of limit per Tel / Fax to Fax to
Band Travel day (US$) Incidentals1' office Incidentals1' office
Lodging Boarding Conveyance
Air
Executive (Business
Band Class) Actuals Actuals Actuals Actuals Actuals
Air
Band 05 (Economy- US$ 250/- US$ 50/- Actuals US$ 20/- Actuals
Excursion
Fare)
Air
Band 04 (Economy- US$ 250/- US$ 50/- Actuals US$ 20/- Actuals
Excursion
Fare)
Air
Band 03 (Economy- US$ 200/- US$ 35/- US$ 20/- US$ 15/- Actuals
Excursion
Fare)
Air
Band 02 (Economy- US$ 150/- US$ 35/- US$ 20/- US$ 10/- Actuals
Excursion
Fare)
Air
Band 01 (Economy- US$ 140/- US$ 35/- US$ 20/- US$ 05 Actuals

35
Air Travel Policy:

The Travel Group must receive the approved Air Travel Request 7 days prior to date of travel.

In case the Approved Air Travel Request is received by the travel team post 4:00 pm it will be
processed on the next working day.

Approvers are requested to approve the Air Travel Request before 3:00 pm as it takes time for
the intimation mail to reflect in the system

Procedure:

For Band 3, air travel will not be allowed where the travel by road / rail does not exceed 5 hours
and the distance between destinations is less than 250 kms.

The tickets for outstation travel by the mode eligible should be booked through the
administration.

department in the prescribed format and duly authorized by the HOD / Zonal Head / Store
Manager.

Band 2 is not eligible for Air Travel. In case of an emergency, the Travel Request has to be
approved by the Concept Head or the CEO.

The employees can send an email to Admin department with travel requisition form duly
approved by HOD.

All tours have to be authorized by the Head of Department / Zonal Head / Store Manager.

All stay arrangements during official travel are to be routed through Administration department.

Staying arrangements for employees on tour will be done at the company guest house. In case of
non availability in guest house, the arrangement will be made at a hotel as per boarding limits
specified above.

Hotel booking will be done by the company for the duration as per travel plans approved by the
HOD.

Thus, the employee has to ensure that she/he checks out of the hotel as per the hotel check-out
time. Any expenses incurred towards stay beyond the approved travel plans will have to be borne
by the employee.

36
In case of no show at the hotel without prior intimation, the charges will be debited to the
employee.

Employee is required to inform either the hotel or the Administration department of the
cancellation 24 hours in advance.

Meals served & laundry service at the guest house will be charged as per approved rate card
made available through Administration dept. Employees will be issued bills against their
payment & they are to claim the same on return as per their boarding entitlement.

Expenses on personal account have to be settled by the employee directly while checking out.

Employees travelling to any destination should ensure that they settle all the expenses incurred at
the destination. Zone / Store will not be liable for settling the same.

Cost consciousness should be every employee's concern and room sharing should be encouraged
whenever two employees are visiting the same venue. As far as possible, guesthouse facility
must be used wherever it has been provided.

For expenses exceeding specified amount, due approval has to be taken from HOD / Zonal Head/
Store Manager.

If an employee loses any asset of the company entrusted to him/her while on tour, the company
reserves the right to recover the value of the lost asset from the concerned employee.

Any employee found making false claims shall be liable for summary dismissal.

It is imperative that all travelling employees carry their identity cards/ visiting cards with them at
all times, so that in the event of any emergency, the company will get immediate information.

The management reserves the right to amend and / or alter this policy anytime at its discretion.

The decision of the management shall be final and binding on the employees in the interpretation
of the clauses of this policy.

37
Band Local Conveyance (within the City / location of work)

During Local Travel

LOCAL CONVEYANCE (WITHIN THE CITY / LOCATION OF

BAND WORK) AT ACTUALS
Band 05 Taxi / Metered Taxi/Auto
Band 04 Taxi/ Metered Taxi/Auto
Band 03 Auto/ Train First Class
Band 02 Train / Bus
Band 01 Train / Bus

In case of non-availability of Bus / Train, in or for a particular destination only, Autos can be
used. This should be duly approved by the HOD / CEO.

In addition, in case of needs for frequent travel in a particular location, all employees in Band 1 -
3 need to purchase First Class Season Tickets by train.

In Cities, where Local Public Transport like: Trains, Buses, etc are not available, employee may
use Autos. However, in Cities, where autos do not ply, employees may use metered taxi only.

Local Conveyance

All Local Conveyance should be applied in SPARSH.

All Local Conveyance should be approved by HOD.

All Local Conveyance disbursement will be on fortnightly basis.

Travel Reimbursement:

 The new recruit can claim reimbursement after joining as per entitlement listed in
Travel policy. To claim the same the employee has to submit the original tickets & boarding card
(in case of air travel).
 Any employee who needs a travel advance to cover his/her expenses for the proposed
tour has to fill in the advance voucher and get the same approved by his manager. This advance

38
should cover the expected expenditure for the days of stay and for the return tickets, if
necessary.
 A travel advance should be settled by submitting a travel log or otherwise within a
week of reporting back to the office. In the event that this is not done, the advance would be
deducted from his/her salary as the case may be.
 All outstation travel bills along with boarding cards (in case of air travel) are to be
submitted within one week of reporting back to the office.
 All expenses should be supported by receipts, bills, boarding pass, etc. and will be
based only on the actual expenses.
 In case of no show or cancellation or change in travel plans after the air tickets are
confirmed, the employee will be required to inform the customer service centre of the
respective airlines & get the cancellation number. A list of contact number will be made
available by the admin department for this purpose. In case of non intimation of cancellation of
travel tickets, the amount will be charged to the employee.
 In case of employee travelling on foreign locations, the Foreign Exchange will be given
by the admin department and the bills of the same have to be necessarily submitted by the
employee within one week of return from the travel.

Classification of cities / towns:

A+: Mumbai, Delhi, Kolkata, Chennai, Bangalore and Ahmedabad

A: Other state capitals

B: Pune, Nagpur, Nasik, Bhubaneswar, Kanpur, Baroda

C: Other cities

39
 The following is the process of how the travel booking is done in the company:

START

Employee raises travel approval request

30 days in advance in HRMS tool

Request reaches HOD

NORequest
Approved STOP

Travel desk arranges

YES for travel and lodging
bookings, details
Notification received by employee,
shared with
forwarded to travel desk
employee, emails
sent to accounts dept.
Incase advanced to be
sanctioned

40
 Employee proceed for
In case of international
business travel, advance if any
travel, employee is
credited to employee account
supposed to contact
by accounts department
authorized agent for
foreign exchange with
accounts department

Travel rules, guidelines and applicable reimbursements for all type of travel:

Travel rules and regulations varies from company to company. Though the policies are different
but the company make sure to compensate and give all allowances to the employees for the
betterment and employee satisfaction. The basic concept behind the travel allowances given by
employer is because of employee morale and dedication for work. Employees who travel for
business are advised to stay up-to-date on company travel policies and costs covered for
reimbursement. Expenses that fall outside of the policies are generally not reimbursed or
covered.

Employees on business travel must carry their identity cards/ visiting cards with them at all
times. In the event of any emergency, it is easier reaching out to the company.

All tours have to be authorized by the Head of Department / Zonal Head / Store Manager.

Travel Advance will be given to Band 1 and 2, in case the travel is for more than 2 days.

Loading arrangements for employees on tour will be done by administration department as per
corporate tie-up with hotels as per band eligibility or in the company guest house.

Employees need to ensure that s/he checks out of the hotel as per the hotel check-out time.

Any expenses incurred towards stay beyond the approved travel plans and eligibility as per
business travel policy will have to be borne by the employee.

In case of no show at the hotel without prior intimation, the charges will be debited to the
employee.

If an employee loses any asset of the company entrusted to him/her while on tour, the company
41
reserves the right to recover the value of the lost asset from the concerned employee.

Any employee found making false claims shall be liable for summary dismissal.

Employees must ensure that while staying with friend or a relative, the stay does not violate the
conflict of interest policy or the gifts and favor policy of the company. Further, the stay should
not considerably increase the expense on conveyance.

Expenses related to Liquor, alcoholic beverages, cigarettes expenses are strictly not
reimbursable.

Hotel Rooms, Movies /other forms of personal entertainment/use of additional hotel facilities
(like Saloon/parlour etc.) are not considered for reimbursement.

In the event of change / cancellation of travel plans, the Travel Desk person must be informed
immediately. The Unused or cancelled rail/air tickets must be handed over to the Travel Help
Desk In-charge immediately / on return from the tour in order to arrange for the refund. Non-
submission of tickets in time for obtaining refund may result in a loss. In which case,the loss will
be debited to the personal account of the employee concerned.

While attending conferences, seminars, training programs, etc. of a residential / non-residential

nature, where the cost of accommodation/meals are included in the Conference/Training fees,
boarding reimbursement shall not be applicable.

Company sponsored facility / infrastructure (Accommodation / Transport etc.) will be utilized by

employees only (family members / personal use will not be permitted).

All ticket bookings Air, railway, bus shall be done by Travel Desk.

In the event, settlement of previous travel has not been initiated by employee, Travel desk will
not book new tickets.

All travel should be against pre-approved travel budget for that Business Unit and Function for
the Financial year.

The management reserves the right to amend and / or alter this policy anytime at its discretion.

All the expense claims (Outstation Travel, Local Conv.& Petty Cash) need to be settle by
employee within 7 working days post to date of travel or expense. Boarding passes is mandatory
at the time of settlement of Outstation Travel/Foreign Travel claim.
42
RECEIPTS

Receipts are required by most companies except for those that pay as per diem. Your company
also likely has a form that they expect employees to use for turning in travel expenses.
To stay on top of reimbursable expenses, employees are often given a deadline by which they
need to file an expense report and turn in applicable receipts. The finance department will have
guidelines that help it stay current.
If you have questions about what constitutes appropriate travel expenses in your organization,
check with your manager and Human Resources. You don't want to spend the money and receive
a surprise later.

43
OBSERVATIONS

Classification of observations

The observations is based on the participant point of view. As I was a part of the Finance
department and I got an opportunity of learning the style of working in the Commercial
department.

Organizational training

During my course of internship with Future Group I got an opportunity to have my

organisational training with a mixture of visits to various departments and interacting with
various individuals. The team I belonged to was Finance department which is also called as
Commercial department in Future Group. The finance team specially was flexible even in their
busy work schedule and made sure I understand the work process and important terms. All
updated information’s, knowledge and new perspective was shared with me. I also got first hand
experience to learn the basics of Excel and SAP viz one of the leading software used by all
organizations. As networking plays a vital role in understanding different module which helped
me in communicating with my higher authorities and understand the overall concept of basic gist
about financial aspects. All the aspects regarding SOP were explained. I also had a chance to
interact and work with senior management understand the business from their point of view. I
also had the opportunity to visit the warehouse of the company and understand the factory
procedures under the guidance of my supervisor. Hence with the management’s flexibility and
the employees really being helpful it was easy for me to sharpen my skills and learn new
concepts quick.

SELF LEARNING

During this course of internship for the period of 2 months, I tried to work on my Interpersonal
and Personal skills. I constantly tried to improve my communication skills, listening skills to
interact better with others. Working in Future Group has certainly helped me to improve problem
solving, decision making, and questioning abilities. I interacted with co-workers and senior
management and understood and analysed their views on retail business. My goal was to learn as

44
much as possible in this limited duration hence I was focused and result oriented towards my
work. For me this whole summer internship program was about building confidence, self esteem
and finding the right motivation and preparing myself for the corporate world in near future.

TRENDS/PATTERNS

In Future Retail the whole system is controlled and regulated or to be precise it is interconnected
with one common software called as SAP. This system helps to track from its production till it
reaches the consumer, which revolves around whole India.

All the work done is through SAP such as invoice booking, logistic cost booking, warehouse rent
annexure, staff reimbursement etc.

Very few failures in following SAP.

Every month disbursement is provided.

Identification of critical issues or problems

Even though the overall environment of Future Group is very good but during the duration of my
internship I came across certain problems which are:

Throughout the duration of the internship that is the 2 months period there have been many
instances wherein the staffs couldn’t figure out few things where I got an opportunity to put up
my point of view but they were hesitant to follow up the suggestion provided by me. Not all
process is automated so few things are done manually, hence it leads to errors.. There is also
conflict between the different departments regarding the documentation since they are finding it
difficult to coordinate with each other at times. Sometimes they also find difficulty in
maintaining their invoices. All the files take up a lot of space. Instead of keeping physical
invoice they must try to maintain a digital copy which would help in reducing the errors as well
as can get rid of too much files which are occupying a lot of space.

45
CONCLUSION

Summary of trends in organization

Future Group understands the soul of Indian consumers. As one of India's retail pioneers with
multiple retail formats, we connect a diverse and passionate community of Indian buyers, sellers
and businesses. The collective impact on business is staggering: Almost 500 million customers
walk into our stores each year and choose products and services supplied by over 30,000 small,
medium and large entrepreneurs and manufacturers from across India. And this number is set to
grow.

Their main aim is to cater to all the section of the society, through their broadly spread outlets
with best in industry supply chain and network. From the start of modern retail they have been
fully into being a consumer’s organization. With bringing in human touch at their stores it made
very easy for the consumers to find out about the goods, getting to know about the goods and the
details about it, which imbibed the sense of belongingness amongst the consumers. After this
they went into ecommerce which brought products to our door steps, which made it very easy for
consumers to purchase whatever they want without going physically at the store and made it very
easy through apps and websites.

Their main USP is that most of their goods sold are produced and owned by them only, this
backward integration has helped them in cutting cost and providing consumers with better
quality products in cheapest cost.

Summary of feedback given to the organization

During the duration of two months I could learn a lot of things from the organization. All the
staffs as well as the senior managers were cooperative enough and would always find a way out
to help me. It was a very nice experience working in such a big firm where I got to learn a lot
about corporate world as well as my domain of interest i.e. Accounting & Finance. Great
infrastructure with all the basic amenities and modern facilities and friendly staff. One of the
feedback given in return to organization was about to improve the training program for new
employees. As of now the newly joined employees are directly burdened with work without

46
proper training. Make sure all the process are fully automated so that human errors can be
reduced, as all the files take up a lot of space. Instead of keeping physical invoice they must try
to maintain a digital copy which would help in reducing the errors as well as can get rid of too
much files which are occupying a lot of space.

Summary of self learning

Internship has been the best practice to get a hands down experience of working in an
organization, it helped me to overcome my fears of interaction or even working in an
organization, in initial days it was a bit stressful but after sometime of gaining the experience it
has proved to be a great journey for learning and getting experience for the period of 2 months.

I also got an opportunity of building a professional interaction with the managers and other co-
employees which is the most important learning aspect of working in the corporate world.

The department was helpful when I had questions, but it was good for me to oversee every aspect
of my own internship and, in the end, has been advantageous. I believe this approach made the
experience mirror that of an actual job search. Open communication was one of the strongest and
most apparent skills that I learned during my internship. When I first started interning, I was
intimidated and nervous to ask too many questions because I didn’t want to admit that I didn’t
understand or that I needed extra help with something. Luckily I got over that fear quickly
because asking questions is the only way to learn what you are really supposed to be doing. I
found that my boss and fellow staff members appreciated it more if I asked too many questions
to make sure I really understood what it was doing and that I did it correctly. If I had not worked
with such cooperative and helpful people, I probably would have been too intimidated to ask
questions in my next job. Now that I know it is not bad to ask questions, I won’t have to struggle
with it in my future job. Without open communication between everyone in an office, I don’t see
how any work can be done.

47
 PART C

LEARNING AND TAKEAWAYS

Learned about the regulations related to Corporate traveling policies of the company. Gained an
insight into the work environment and understanding the culture of the company. Developed a
skill set of gathering questions and asking appropriate personnel for assistance Learned how to
ask for assistance .When in doubt, the first and the most important thing to do is ask rather than
being a fool and doing the wrong thing.

As my work was purely observatory I had a chance to interact with lot of people from various
departments, it not only improved my communication skills but also helped to understand the
work process. Besides, working in a corporate has not only improved my understanding of
management concepts but also has boosted my self confidence about working in a corporate in
near future.

Application of concept tools and techniques learnt at PIMSR

PIMSR taught me some new techniques and tools which helped me in framing and
understanding organization and its market as whole such as: PESTEL analysis, SWOT analysis,
porter’s five forces analysis, porter’s generic strategies, mckenzie 7 s framework, value chain
analysis, BCG, Ansoff’s matrix.

PESTLE analysis is a strategic planning method to reduce business threats. By examining the
Political, Economical, Social, Technological, Legal, and Environmental factors, firms will gain
valuable advantages. These advantages help with the idea phase, product development, product
launching, content marketing strategies, and other factors, to increase success.

The advantages of PESTLE analysis involve being cost effective, providing a deeper
understanding of business, alertness to threats, and a method to exploit opportunities.

A SWOT (strengths, weaknesses, opportunities and threats) analysis can help you identify and
understand key issues affecting your business, but it does not necessarily offer solutions. You

48
should be aware of the limitations as well as the benefits of a SWOT analysis before you decide
to conduct one. Knowing what you can reasonably expect to achieve will make the SWOT
analysis more useful for your business, and will save you time. Ultimately, you must be prepared
to spend the time to review your SWOT analysis and use it to determine the best way forward in
your business. The main advantages of conducting a SWOT analysis is that it has little or no cost
anyone who understands your business can perform a SWOT analysis. You can also use a
SWOT analysis when you don't have much time to address a complex situation. This means that
you can take steps towards improving your business without the expense of an external
consultant or business adviser.

Generic model, Porter's generic strategies describe how a company pursues competitive
advantage across its chosen market scope.

Porter’s Five Force model, Porter refers to these forces as the

Micro environment, to contrast it with the more general term macro environment.

Value chain analysis, Products pass through a chain of activities in order, and at each activity the
product gains some value. The chain of activities gives the products more added value than the
sum of added values of all activities.

All the tools techniques and skills acquired from PIMSR have really been helpful throughout the
internship because all those concepts have played a big role in adding value to the company as
well as it has helped me in understanding various aspects with different perspective.

New knowledge, tools, technique or skills

Working at the Commercial department and in the professional environment for the first time has
been difficult initially, but at the time of completion I realized it is the best way to see or get
experience of working in the corporate, and get the one of the best experience.

49
One of the most valuable skills I learned working in the Finance department is the
communication skill. I gained a confidence of interacting with my co employees or even with the
managers. I also got the opportunity of interacting directly with the boss on certain topic or a
company.

After the completion of my 2 months duration of internship I got better way or better approach of
how to behave or build up a interaction in the corporate world, it also helped me for gearing up
for my interview and get a confidence for working in the other organizations.

As working in Commercial Department I got an opportunity of learning the new tool in the form
of the SAP software. As all the work done is through SAP such as invoice booking, logistic cost
booking, warehouse rent annexure, staff reimbursement etc.

Augmentation of soft skills

Being part of the internship I could not only build good professional relationship with the

staffs and management but also could build good personal relations with the staffs as well as

other people who are the partners of the company in which I have worked in. Also the mentor

and managing director had been very supporting throughout the internship guiding me

throughout the 60 days duration. They not only helped through professional front but also

helped me to understand the expectations of market place from a fresher. This has not only

helped me in building up my communication skill but also has helped me in learning the art

of time management, also it taught me how observant one must be in order to recognize or

identify the opportunities surrounding us. Being a management it’s not only important to have

technical knowledge about the subject matter also must develop leadership skill as well as

must be good working in a team.

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Maintaining relationships

Maintaining relationship with team member gives benefits to the work routine. The professional
relationship with seniors will help to developed personality and they indirectly teach fresher how
to behave in organization and maintain professionalism.

Improvement in formal communication

It also helped a lot for developing mailing skills according to the requirement of the organization.
Drafting a suitable mail according to the different situation, replying to the clients, replying to
other co employees .

Increase in self-confidence

It also helped to develop a self motivation by encouraging its employees to set a target for them
self and achieve it full determination and with focus. It also motivates with the employees by
providing rewards. Employees and even interns are encouraged to take up a challenging task and
try to achieve it within the time, such factors develops motivation among the employees and
interns.

Direction for future learning

Gaining the work experience for the first time in the duration of this 2 months internship, has
helped me a lot to gain confidence and the communication skills which I would like to take
forward in near future for working in the new organization. Working at Future Group has given
me a gist of how the Finance department in a FMCG sector works. Regarding my future career
path I would like to pursue my career in banking sector.

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 REFERENCES

Future Group Company Website: http://www.futuregroup.in/businesses/modern-retail.html

Future Group Company Website: http://www.futuregroup.in/businesses/integretated_fmcg.html

Ansoff matrix by Mike Morrison31/07/2016: https://rapidbi.com/ansoff-matrix-product-market-

grid/

Retail Industry analysis IBEF: https://www.ibef.org/industry/retail-india.aspx

Retail Industry in India IBEF:

https://www.ibef.org/archives/detail/b3ZlcnZpZXcmMzc5MjAmMzc1

https://www.quora.com

https://www.scribd.com

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