ENTREPRENERSHIP AND STARTS UPS PRACTICAL

FIELD VISIT REPORT

Submitted by

ABDUL RAHUMAN K A

In partial fulfillment for the award of the course of

DIPLOMA IN MECHANICAL ENGINEERING

S.VEERASAMY CHETTIYAR POLYTECHNIC

COLLEGE PULIANGUDI

STATE BOARD OF TECHNICAL EDUCATION

BOARD OF TECHNICAL EDUCATION-CHENNAI

NOVEMBER::2022
 BONAFIDE CERTIFICATE

Certificate that this field visit report “ ENTREPRENURSHIP AND STARTSUP

PRACTICAL” is the bonafide work of who carried out the project work under
my supervision

ARUNKUMAR S

SIGNATURE INTERNAL GUIDE

Mr.B.MURUGANANTHAM B.E, Mr.B.MURUGANANTHAM B.E,

LECTURER LECTURER
MECHANICAL ENGINEERING MECHANICAL ENGINEERING

S.VEERASAMY CHETTIAR POLYTECHNIC COLLEGE S.VEERASAMY CHETTIAR POLYTECHNIC

PULIANGUDI - 627855 PULIANGUDI – 627855
 S.VEERASAMY CHETTIYAR POLYTECHNIC COLLEGE

PULIANGUDI

BONAFIDE CERTIFICATE

This is to certify that FIELD VISIT REPORT entitle ENTREPRENURSHIP AND

STARTS UPS PRACTICAL is the bonafide work done by following student under our

guidelines during the year 2022-2023 in fulfillment award of Diploma in

MECHANICAL ENGINEERING conducted by BOARD OF TECHNICAL

EDUCATION-CHENNAI

ARUNKUMAR S

INTERNAL GUIDE HEAD OF THE DEAPRMENT

This Field visit report is submitted for the viva-voce held on ………………
 First and foremost we are extremely thankful to the almighty for showing
his blessing to our project and to complete it successfully.

We extend sincere thanks to our Chairman and all

the members for
providing wonderful facilities for summing up our studies.

We would like to our honorable Principle Mr.VELLINGIRI.V a dynamic

personality of our college for his kind consent to take up this project work
and make it the great success.

We endow our gratefulness to MR.B.MURUGANANTHAM B.E., Head of the

Department, for her aspiring motivation guidance and support through out
the project.

We extend our gratitude to our Project Coordinator MR. B.MURUGANANTHAM

B.E., for her constant encouragement innovative ideas and guidance.
We also extend our gratitude to MR. B.MURUGANANTHAM B.E., for
her patience, technical suggestions and internal guidance.

We are very thankful of our family, our dear friends and to all those who
directly and indirectly helped in this endeavour.
CONTENT:

1. INTRODUCTION

2. COMPANY PROFILE

3. COMPANYMANUFACTURING
4 .METHOD OF PRODUCTION
5. COMPANYREGISTRATIONS
6. FINANCIAL REQIREMENTS

7. VARIOUS RISKS IN BUSINESS

8. MARKETING AND SALES STRATEGY

9. ACCOUNTS MAINTENANCE

10. PROCEDURE TO GET VARIOUS APPROVAL LICENSES

11. EMPLOYEE DETAILS

12. CONCLUSION
 1. INTRODUCTION:

Sri Ranganathar Industries Pvt. Ltd, established in the year 1982 as a small
Pattern Shop has grown at a phenomenal rate and has expanded as a steel foundry
in 1987. Today, the company have grown tremendously and is now having the
following companies under its ambit:
(i) Sri Ranganathar Industries manufactures high quality steel castings in
Machined & Unmachined condition

(ii) Sri Ranganathar Valves manufactures wide range of Industrial Valves

(iii) Sri Unit II manufactures high quality Investment Castings.

Over the past three decades, we have established ourselves as a leading

manufacturer and exporter of high quality Valve Castings and Industrial Valves
such as Gate, Globe, Check, Ball, Knife Gate Valves & Strainers in the market.
Our state-of-the-art manufacturing units are located at three places, within a 20
mile radius of each other to ensure optimum efficiency in processing our
customer order. Being equipped with requisite machines & experienced
manpower we are able to satisfy the variegated demands of our clients in different
industrial segments.
 2. COMPANY PROFILE:

Mr.V. Narayanasamy, Managing Director famed as “The Best Methods Man”

with his wealth of experience has driven SRI from strength to strength during the
past three Decades and has made the group an industry leader in producing
valves, Valve castings & Investment Casting components. Under the guidance &
management of our visionary Director Mr.V.Narayanasamy, we are continually
embracing the latest technology and methodology to respond to our clients’ ever
growing needs.
In addition to Managing Director’s constant Efforts Mr.J. Elangovan –
Technical Director and second generation Directors Ms.V.N.
Vinayasree & Mr.N. Harikrishna are taking an active part in the growth and
evolution of Sri Ranganathar Group. We are proud to share with you that we have
bagged the Best Supplier Award from our customers GE, EMERSON and
XOMOX.

Our Uniqueness:

(i) Steel Castings & Valves with superior Quality & On-time delivery to
meet various Industrial application needs

(ii) Sophisticated Infrastructure with advanced Machines, Softwares

for simulation & valve design

(iii) Products are in compliance with the International quality standards

(iv) Highly qualified team with wide experience in the Foundry&

Valve Industry
 Our Vision:

Our Vision is to achieve Total Customer Satisfaction through offering cost-

effective and reliable products that will meet their needs & add real measurable
value to our Customers’ organization.

Company Milestones

 Established as a PATTERN SHOP in the year 1983

 Expanded as a STEEL FOUNDRY in the year 1987

 Expanded with a MACHINE SHOP in the year 1994

 VALVE MANUFACTURING unit started in the year 1995

 SECOND FOUNDRY (SRV) started in the year 2000

 CRYOGENIC VALVE TESTING LAB started in the year 2012

 INVESTMENT CASTING FOUNDRY started in the year 2013

 HEAVY DUTY CNC MACHINE SHOP started in the year 2013

 VACCUM TESTING facilities started in the year 2013

Company top view:

Entry block:
 3. COMPANY MANUFACTURING DETAILS

SRI is a world wide well known manufacturer of wide range of industrial

VALVES & CASTINGS.
- SRI : Sand Casting
- SRV : Sand Casting & Industrial Valves
- SRI-Unit II : Investment Casting &
Sand Casting Division

4. METHOD OF PRODUCTION DETAILS

SRI : Sand Casting

Steel Castings
SRI Group produces Steel castings for diverse industrial sector. We produce and
supply Valve and Pump casting with excellent Quality and On-Time delivery for
Customer requirement. Our products are precision designed and developed using
high Quality material.
SRI : Sand Casting
Sri Ranganathar Industry Unit I produces more intricate and high alloy Castings
that weigh from 10 Kgs to 1,300 Kgs. We produce & supply high quality
machined steel castings in Exotic Steels, Duplex & Super Duplex Steel, Stainless
Steel, Carbon Steel, PH Duplex Steel, Low temperature Steel and Low Alloy
Steel grades in Sand Casting process.
Applications
Over the years, we have manufactured a vast range of Castings for various
Industrial applications.
SRV : Sand Casting & Industrial Valves
Sri Ranganathar Valves (S.R.V) also produces more intricate, larger weight and
high alloy Castings that weigh from 10 Kgs to 3000 Kgs. SRV produce &
supply High Quality Valves in Exotic Steels, Duplex & Super Duplex Steel,
Stainless Steel, Carbon Steel, PH Duplex Steel, Low temperature Steel and Low
Alloy Steel grades in Sand casting process.

Applications
Over the years, we have manufactured a vast range of Castings & Valves for
various industrial applications
SRI-Unit II : Investment Casting & Sand Casting Division
Sri Ranganathar Industry Unit II -Investment Casting facility produces more
intricate, smaller weight, high alloy castings that weigh from 1 Kg to 50 Kgs. We
produce & supply high quality
Valve Castings
Pump Castings
Medical Equipment
Castings in Exotic Steels, Duplex & Super Duplex Steel, Stainless Steel, Carbon
Steel, PH Duplex Steel, Low temperature Steel and Low Alloy Steel grades in
Investment casting process.

Material Grades
Exotic Steels:
ASTM A 494 A Gr. CZ100, M35-1, N12MV, N7M, CY40, CW12MW, CW6M,
CW6MC, CX2MW, CU5MCuC, CX2M
Duplex Steel and Super Duplex:
ASTM A 995 Gr. 4A, 5A, 6A, 1B
Stainless Steel:
ASTM A 351 Gr. CF8M, CF3M, CF8, CF3, CG8M, CG3M, CF8C, CK3MCuN,
CN7M, CD4MCu, CD4MCuN, CD3MWCuN
Carbon Steel:
ASTM A 216 Gr. WCC, WCB
Low temperature Steel:
ASTM A 352 Gr. LCC, LCB
Low Alloy Steel:
ASTM A 217 Gr. WC6, WC9, CA15, C12, C12A, C5, , ASTM A 487 CA6NM
PH Duplex Steel:
ASTM 747 – CB7Cu-1 (17-4PH)
5. COMPANY REGISTRATION DETAILS:

SRI RANGANATHAR INDUSTRIES PRIVATE LIMITED is a Private

Company, who was incorporated 24 Year(s) 10 Month(s) 19 Day(s) ago on dated
26-Nov-1997 . SRI RANGANATHAR INDUSTRIES PRIVATE LIMITED is
classified as Non-govt company and is registered at Registrar of Companies
located in ROC-COIMBATORE. As regarding the financial status on the time of
registration of SRI RANGANATHAR INDUSTRIES PRIVATE LIMITED
Company its authorized share capital is Rs. 10000000 and its paid up capital is
Rs.9990000.

As Per Registration of Company, It involves under in Business Activity Class /

Subclass Code 29199, Main Activity of the said Company SRI
RANGANATHAR INDUSTRIES PRIVATE LIMITED is : , Manufacture of
other general purpose machinery: fans intended for industrial applications,
exhaust hoods for commercial, laboratory or industrial use; calendering or other
rolling machines other than for metals or glass; gaskets and similar joints made of
a combination of materials or layers of the same material and other general
purpose machinery n.e.c., including manufacture of parts and accessories for
general purpose machinery and equipment., It Comes Under Division
MANUFACTURE OF MACHINERY AND EQUIPMENT N.E.C. and this come
under section MANUFACTURING.
 6. FINANCIAL REEQUIREMENTS:

Here is a summary of financial information of SRI RANGANATHAR

INDUSTRIES PRIVATE LIMITED for the financial year ending on 31 March,
2021.

 Revenue / turnover of SRI RANGANATHAR INDUSTRIES

PRIVATE LIMITED is INR 100 cr - 500 cr
 Net worth of the company has increased by 5.85 %
 EBITDA of the company has increased by 172.99 %
 Total assets of the company has increased by 3.68 %
 Liabilities of the company has decreased by -16.51 %

Operating Revenue INR 100 cr - 500 cr

EBITDA 172.99 %

Networth 5.85 %

Debt/Equity Ratio 0.51

Return on Equity 5.46 %

Total Assets 3.68 %

Fixed Assets 33.76 %

Current Assets -18.10 %

-16.51 %
Current Liabilities

Trade Receivables -24.38 %

Trade Payables -32.53 %

Current Ratio 1.26

7. VARIOUS RISKS IN BUSINESS:

Having broad coverage in place from a trusted carrier can help firms anticipate
and minimize exposures, including these critical ones:

 Supply chain interruptions

 Workplace safety
 Product liabilities
 Errors and omissions

 Foreign exposures

In an evolving business landscape, manufacturers face varied exposures

with customers, employees, and operations. Innovation, from new
technologies to expanding markets, can introduce opportunity but also
potential vulnerabilities. A manufacturer’s brand and reputation can be at
stake, as well as its bottom line.

Consider these 20 risks to manufacturing businesses and the specialized

insurance solutions you can use to help protect your company.

1. Cargo in Transit

 Trucking companies that transport equipment or products are subject to

increasingly sophisticated cargo theft methods. Rogue individuals posing
as legitimate motor carriers can hack into computer systems to pilfer
location information and steal valuable loads. You can broaden the scope
of your commercial property coverage with Travelers Inland Marine
insurance.
  This program can offer coverage for goods or equipment transported on
roads or rail. Our industry experts understand the latest scams and can
also help prevent theft against cargo transporters.

2. Cyber Risks

 Even highly secure networks are vulnerable to malware and ransomware

attacks. Despite efforts to protect proprietary information and client data,
hackers can still find ways inside your systems, disrupting operations and
triggering financial consequences
 Cyber coverage from Travelers can be a crucial safeguard with
customized insurance solutions depending on your business’s level of
risk. Cyber coverage can protect your company before, during and after a
breach.

3. Directors and Officers Exposures

 Privately held companies and their directors and officers can be the target
of lawsuits initiated from many different directions. Whether actual or
alleged, wrongful acts can be time-consuming and costly to defend.
 Travelers Directors and Officers Liability (D&O) can help cover defense
costs and damages (awards and settlements) when claims are asserted.

4. Employee Fraud:

Theft from within can happen in any organization and can include
property theft as well as stealing funds. To protect against the cost of
employee theft, Travelers offers Fidelity and Crime Coverage.
5. Employee Injuries

 Manufacturers can experience workplace accidents and injuries even as

formal safety protocols and programs are developed, implemented and
improved. Helping reduce the negative impact on both employees and
your business is paramount.
 Travelers Workers Compensation insurance can cover medical expenses
that result from an employee injury. Working with a ConciergeCLAIM®
Nurse can help injured employees navigate the claim process, understand
next steps and lead to better claim outcomes.

6. Employment Practices

 It is not always easy to anticipate what can trigger an employment claim.

If an employee feels harassed or discriminated against, those perceptions
could present your company with an employment practices liability claim.
 Employment Practices Liability coverage from Travelers can help cover
the cost of defending such suits and provide a dedicated claim
professional and a local outside attorney.

7. Environmental Accidents

The handling of fuel or disposal of hazardous waste in facilities presents

manufacturers with unique challenges. Sudden leaks or spills can result in
significant cleanup costs and lead to fines from state and federal regulators
Environmental Liability insurance from Travelers can help cover exposures
that your general liability policy may not address. These programs help
mitigate financial damages if pollutants are accidentally discharged on the
premises or in transit.

8. Equipment Failures

 Essential machinery along the production line can stop working at any
time, posing considerable cost to repair or replace it. It’s important to
understand that mechanical breakdowns may not be covered by
commercial property insurance.
 Travelers Equipment Breakdown coverage meshes with
traditional Liability and Property policies to add protection for equipment
failures that would hinder normal business operations. Manufacturers can
also add additional coverage for lost income suffered because of
downtime.

9. Evolving Workforce Dynamics

 Employees are the lifeblood of your organization. Ensuring the safety of

new and existing personnel in production environments is critical to
continued recruitment success and the well-being of your established
workforce.
 Enhancing the traditional approach to Workers Compensation Insurance,
the Travelers Workforce Advantage® program helps employers adopt a
safety-first mindset at time of hire and through the onboarding and
training phases.
 10. Global Exposures

 An employee involved in an auto accident could encounter different

procedural requirements in a foreign country than they would
domestically. You may want to provide employees, and your business,
similar benefits and coverages both abroad and in the U.S.

11. Large Losses

 Catastrophic losses can mount quickly, especially when litigation leads to

substantial jury awards. These judicial decisions can be handed down in
product liability or personal injury cases, and can exceed manufacturers’
expectations, as well as their coverage limits.
 Excess liability coverage helps protect against the possibility of
extraordinary financial damage. To help insulate your manufacturing
business from large losses, Travelers Umbrella and Excess Casualty
coverage offers limits of liability that extend above those of your primary
liability policies.

12. Motor Vehicle Accidents

 If you own a fleet that delivers products to distribution centers or

retailers, auto accidents causing property damage or injury to others could
occur despite your best efforts to implement safe driving programs.
 Travelers Commercial Automobile insurance policies can cover your
owned autos, as well as your leased or rented vehicles. Coverage can be
extended beyond company-owned vehicles to include other autos driven
by your employees for business.
13. Ocean Cargo

 Having global distribution capabilities introduces the possibility of

physical damage to products en route to their overseas destination. Fire,
water and weather hazards can cause significant damage to finished goods
or materials.
 Whether it’s implementing loss prevention measures or addressing claims
globally, Ocean Marine insurance from Travelers can help protect your
valuable merchandise. Through the Custom Cargo coverage program,
manufacturers with specific shipping needs can tailor coverages to their
unique situation.

14. Products Liability

 Overlooked design flaws, manufacturing defects and gaps in warnings

and instructions could pose a threat to end users. Bodily injuries resulting
from substandard safety features in manufactured goods can lead to
considerable financial losses.
 With Travelers General Liability insurance, coverage can protect you for
claims of bodily injury or property damage caused by your faulty product.

15. Product Recalls

 Issuing a recall for defective or contaminated products released into the

marketplace can be an expensive and time-consuming endeavor. Recalls
can help prevent lawsuits by adversely affected consumers, which can be
costly to defend and can affect a manufacturer’s brand and reputation.
 Designed to cover certain costs triggered by a recall, Travelers Product
  Recall Expense protection can be added to a General Liability policy.
This additional protection can help to cover costs you incur to pull
products from the market and to transport, store, inspect and dispose of
them.

16. Property Damage

 Manufacturers that operate specialized equipment and machinery might

find it expensive to repair or replace business property in the event of fire
or electrical damage. Without an expedient return to normal operations, a
competitive advantage can be diminished.
 Travelers Commercial Property insurance includes protection for unique
business equipment such as molds, patterns and die sets. Travelers can
also assist with the valuation of partially or fully completed products to
help ensure that work in progress is adequately covered.

17. Supply Chain Interruption

 Dependence on your supply chain can bring on unwanted circumstances

beyond your control. If you suffer downtime on the production line due to
a supplier’s inability to provide materials or parts, that stoppage could
result in lost revenue and profits.
 If the disruption to your supply chain presents a risk, a
Travelers Commercial Property Package can be customized to help you
manage business expenses until continuity is restored, and operations can
return to previous capacities.
18. Suspended Operations

 A catastrophic weather event could impart severe damage to a facility or

even result in a total loss. While extensive repairs or rebuilds are
underway, replacing lost revenues can be critical to the continued
viability of the business.
 A Business Income and Extra Expense policy from Travelers can help
your business cover overhead expenses such as rent, payroll or tax
obligations during the time operations are suspended due to a covered
loss. The policy can also help with cash flow until your company is back
up and running.

19. Third-Party Financial Loss

 If you supply parts for another manufacturer, an error committed by your

shop that causes a part to not function properly could cause a loss of
revenue for that third party. Your business may be held liable for your
customer’s lost sales and profits.
 Travelers Manufacturers Errors and Omissions (E&O) coverage can
cover financial loss to a third party because of an error in product design
or specifications. This policy supplements General Liability coverage if a
customer seeks financial loss damages such as lost income.

20. Third-Party Financial Loss - Tech Companies

 Unique exposures are created for technology companies that design

components for sellers of finished electronic devices. For example, a
malfunctioning resistor for a smart device may not be discovered until the
product hits the market, and that could cause financial loss because the
 Electronic devices can no longer be sold. Travelers Technology E&O
insurance helps cover the financial loss to your customers should you
supply a defective or incompatible part.

 Contact an independent agent today to find out more about how Travelers
can help strengthen your manufacturing business against the variety of
risks it faces.

8. MARKETING AND SALES STRATEGY PLAN:

SALES STRATEGY:

Increase online sales through social media.

Become a thought leader.

Don't shy from cold calling.

Offer a demonstration of the product.

Provide a personalized, clear end result.

Be willing to adapt your offering.

Close deals with confidence.

Nurture existing accounts for future selling opportunities.

. INCREASE ONLINE SALES THROUGH SOCIAL MEDIA:

Social media is one of the most popular ways that people consume information
these days. That’s why nine out of ten retail businesses are active on at least two
social platforms. With the data on your side, increasing online sales through
social media is attainable with some creative thinking and strategic planning.

Although it may be tempting to jump on the hottest social media trend or go

where your competitors are, that probably won’t be your best choice. Time is of
the essence and you’ll want to build your pipeline as efficiently as you can. So, be
diligent about figuring out where your target customers are spending their time
and meet them where they are most active.

Keep in mind that your tone and voice may need to adjust to the platform so that
you can connect with your audience. You’ll want your content to blend in
naturally with the platform and not seem out of place.

. Become a thought leader:

Sharing your advice, tried-and-true best practices, and niche expertise are some of
the most long-lasting ways to build your personal brand and lend more credibility
to your organization. I’m sure we all can agree that nobody wants to feel like
they’re being sold to. Instead, it’s better to help people by offering solutions to
their problems. Thought leaders do exactly this, and it’s even been backed up
by Edleman data.
3. Prioritize inbound sales calls as hot leads:

There’s the age-old question: “Should I discuss product pricing with a prospect
on the first sales call?” The honest answer is: It depends. You and your sales team
know your process front and back and if you’ve seen success with pitching with
pricing first, last, or somewhere in between, stick with what’s working for you.

In addition to that, your team should always prioritize those prospects who call
into sales first. These hot leads are definitely interested in what you have to sell
and want to know enough information about how it’ll benefit them before they
make a decision. By prioritizing talking to these prospects as soon as they call or
send an email, you’re putting your best foot forward and showing them that
you’re helpful, solutions-oriented, and considerate of their time. If it
means closing the deal on the first call, there’s no harm in it so long as the
customer has the information they need to make an informed decision.

4. Properly research and qualify prospects:

Even the strongest sales strategy can't compensate for targeting the wrong
customers. To ensure your team is selling to the right type of customer, encourage
them to research and qualify prospects before attempting to discuss your product.
They'll find that more work on the front end can lead to smoother closing
conversations later on.

Outline the criteria a prospect should meet to qualify them as a high-probability

potential customer. This should be based on a prospect’s engagement history and
demographics.
5. Don't shy from cold calling:
In Sales, cold calling is unavoidable. But it doesn't have to be miserable. There
are a number of cold calling techniques that really work, including our
bulletproof cold calling template. Have your sales team practice cold calls on one
another before making actual calls; it'll boost their confidence and get them
comfortable with the script.

6. Offer a demonstration of the product:

Pitching can be the make-or-break moment in a sales strategy. The sales pitch has
to be a powerful, compelling presentation, but it also can't come on too strong lest
you’ll scare away the prospect.

Study the elements of a successful sales pitch and demonstrate to prospects how
they’ll benefit from making the purchase. Have your team practice amongst
themselves, too. Better yet, test your presentations on a few loyal customers and
gather their feedback.

7. Provide a personalized, clear end result:

When customers come to your business, they aren’t necessarily looking for a
product or service, they’re looking for their desired end result. These customers
want to purchase a means to improve their own operation, or simply improve
their strategies with the help of your offering.

After you explain your product or service offering, you have to personalize the
benefits to each client in a way that’s valuable to them. If you’re selling customer
service software to a small business that has no experience with one, it’s your job
to educate them on its use in the setting of a small business, not to manage
hundreds of employees in larger ones. By doing so they will have an easier time
seeing how they can use it and spend less time debating what they’ll use it for.

By painting a clear picture of the end result, your customer will be able to see the
value of the purchase and feel more inclined to accept the offer.

8. Be willing to adapt your offering:

In sales conversations, you should expect to come across clients with unique
demands. It’s only natural when working with companies of different structures
and needs.

Instead of saying “you won’t” or “you can’t” — make sure your sales strategy is
adaptable to accommodate the customer’s desire.

9. Close deals with confidence:

How you close a sale is just as important as how you start the conversation.
Encourage clear, concise, and firm closing techniques to ensure your sales team
sets the right expectations and delivers on their promises.
Keeping a list of proven, go-to closing techniques will help salespeople routinely
win deals. Such techniques can include the now or never close, “If you commit
now, I can get you a 20% discount,” or the question close, “In your opinion, does
what I am offering to solve your problem?”
Available for free is our downloadable Sales Closing Guide to improve your
closing techniques and to close deals with confidence.
10. Nurture existing accounts for future selling opportunities:
Once a deal is done, there's no need for a sales strategy ... right? Wrong. Account
management is an incredibly important part of the sales process, encouraging
loyal, happy customers, and leveraging cross-selling and upselling opportunities.

After your sales team sees success with the sales strategy, go the extra mile and
form a partnership between your sales team and customer service/success teams.
By ensuring customers’ continued satisfaction with your product or service, they
will be more inclined to do business with your company again, and even advocate
for it.

Top Sales and Marketing Strategies

1. SELLER-DOER STRATEGY

In the seller-doer model, the person making the sale is also the person doing the
work. It is perhaps the most common strategy, especially for small firms.

It has the distinct advantage that the potential client has full knowledge of who
they will be working with. This arrangement has the added advantage of building
familiarity and trust during the course of the business development cycle.

In some firms the seller-doer may also be charged with finding new prospects and
nurturing them until they become sales opportunities. This poses several
disadvantages. The seller-doer has a split mandate. When they are selling they
feel like they should be doing client work. When they are doing client work,
selling suffers.
The predictable result is either continual switching between roles or a sine wave
effect in which periods of heavy work are followed by periods of heavy business
development. Feast or famine is the way it feels.

In some larger firms where partners oversee teams of professionals, this effect
can be less extreme because much of the work can be handed off to subordinates.
Even in this case, however, the friction is always there.

2. TRADITIONAL SELLER STRATEGY

In the traditional seller model a sales person is responsible for generating and
closing the opportunity. When the sale is closed, the doer enters the picture to
perform the work. The seller often maintains an ongoing relationship with the
client to uncover and close other opportunities.

The big advantage is that you have dedicated roles that assure focused and
uninterrupted effort. Doing the work does not interfere with ongoing business
development.

This strategy is not widely used in professional services firms. The big reason is
that it does not allow the client to evaluate an individual’s expertise or establish
trust. There are situations where the model can work. For instance, if there is
another path to establishing trust — or if expertise can be assumed — the model
can be made to work. Think commodity services, for example.
3. SELLER AND EXPERT STRATEGY

There are some situations where the nature of an engagement requires an

extensive proposal and contract negotiation phase. Federal government contracts
and large engineering and construction projects are two examples that jump to
mind.

In these situations, it is often desirable to have a dedicated capture specialist

working the sale. While there is also a need for the expert who will be doing the
work to be an active participant there is recognition that another role is needed.

This model has the advantage of allowing prospects to experience a firm’s

expertise while also having a dedicated sales professional. In that sense, it
represents the best of both worlds.

This approach is not more widely used because it requires more highly trained,
highly compensated staff. So unless opportunities are large enough to warrant the
added expense, this strategy can be unsustainable.

4. IMPLEMENTATION PLAN

Once the strategy is set you can work through the steps to begin implementing it.
Some of the key considerations include:

Sales and marketing tools

 Infrastructure such as a CRM or marketing automation system

Talent that needs to be hired or outsourced

Training required

Marketing calendar to schedule and coordinate activities

Metrics that will allow you to evaluate and adjust the strategy

Implementation schedule, budget and responsibilities

This implementation plan is very useful in making your new strategy a

reality. Firms often stumble at this part of the process. They may develop an
excellent strategy, only to watch it fail because it was never fully
implemented.

9. ACCOUNTS MAINTENANCE:

The word maintenance does not always mean to repair. What maintenance really
means is to follow up with the regular or methodological processes to keep the
equipment up to date and in working condition. It does not only mean repairing a
piece of equipment when it is broken.

The priority of effort and time should be on maintenance rather than repair.

The equipment should be lined and labeled, its wearing surfaces should be
examined and replaced, oil schedules should be lined up at regular intervals.

Hence, the equipment with good working conditions requires regular inspection
and adjustment to continue to produce good quality products for a long time.
The main aim of equipment maintenance is to maintain the functionality of the
equipment and to minimize its breakdowns.

For mechanical equipment, the maintenance management will involve repair,

replacement, and serving of tools. It also ensures the proper working and to
intercept fluctuations that occur in the duration of the production process.

The fact remains that, any kind of change even a minor downtime could reduce
the overall efficiency of machines which would lead to major production losses.

Therefore, it is important for organizations today to get and implement a

good maintenance management strategy.

Without or in the absence of equipment management, it might be possible to

face some consequences in revert of careless decisions. Some of them are:

 Production loss

 Rescheduling of whole projects

 Material wastage from resources that have not been used yet

 Over time of labor because of downtime

 Disposal of machinery and equipment before the end of its useful life
Categories of Maintenance:

There are two main categories of maintenance:

1. Primary functions

 Equipment inspection, cleaning, and lubrication

 Alterations to existing types of equipment and buildings

 Maintenance of existing buildings and grounds

 Maintenance of existing plant and equipment

 New installations of equipment and buildings

 Generation and distribution of utilities

2. Secondary Functions

 Property accounting

 Insurance administration against theft and fire etc.

 Store keeping for maintenance purposes

 Plant protection against fire etc.

 Pollution and noise control

 Waste disposal

 Salvage

 Providing caretaker services

Importance of Maintenance Management

Many organizations still believe in the old methodologies which suggest to not to
fix anything unless it's broken. But breaking this myth, we will suggest you, to go
for preventive maintenance management as it has many benefits:

 Operator and Machine Safety

By performing regular preventive maintenance, you will always be assured that

your equipment will operate under safe conditions, both for the machine and the
operators. Possible issues can be cut off before it tends to cause any harm,
without taking any chance.

 Machine Efficiency

With normal wear and tear, machines can cause lower efficiency.
Proper preventive maintenance management will assure you of the optimal
working conditions of the equipment and moreover, conserves its life span.

 Time Savings

Planned preventive maintenance management will reduce the actual downtime

caused by the breakdown and further enhance the products that too in less time,
thereby, saving a lot of time. Preventative maintenance will consume less time
than the time taken in emergency repairs and replacements.

Important Functions of Maintenance Management in Asset Management

 Develops maintenance policies, procedures, and standards for

the maintenance as well as asset management system.
 Schedules the maintenance work after getting the right consultation from
the concerned production departments.

 Carries out the repairs and corrects the planned equipment to achieve
the required level of availability and optimum operational efficiency.

 Ensures scheduled inspection, lubrication & oil checking, and adjustment

of all the machinery and equipment.

 Documents and maintains the record of every maintenance activity i.e.,

repairs, replacement, overhauls, modifications, and lubrication, etc.

 Maintains and carries out repairs of buildings, utilities, material

handling equipment and other service facilities such as electrical
installations, sewers, central stores, and roadways, etc.

 Carries out and facilitates the regular inspections of equipment and

facilities to know their conditions, if there is any failure or stoppage in
production.

 Prepares the inventory list of spare parts and materials that are required
for the maintenance.

 Ensures cost-effective maintenance.

 Forecasts the maintenance expenditure and prepare a budget and to

ensure the expenditure according to the planned budget.

 Implements safety standards as needed for the use of specific

equipment such as boilers, overhead cranes and chemical plants, etc.
  Develops the management information systems, to provide information
to top management related to the maintenance activities.

 Monitors the equipment's condition at regular intervals.

 Ensures proper inventory control of spare parts and other materials

as required.

10. PROCEDURE FOR GETTING VARIOUS

APPROVAL &LICENSES:

Industrial Licensing

Industrial Licenses are regulated under the Industries (Development &

Regulation) Act, 1951. Industrial Licence is granted by the Government of
India in the Secretariat for Industrial Assistance (SIA) on the
recommendation of the Licensing Committee. With progressive
liberalization and deregulation of the economy the requirement of
industrial licensing has been substantially reduced. At present industrial
licence for manufacturing is required only for the following:

 Industries retained under compulsory licensing.

 Manufacture of items reserved for Micro and Small Enterprise sector
by Medium and Large Enterprise.
 When the proposed location attracts locational restriction.
 Industries reserved for the Public Sector.
Necessary documents for site plan approval for factory license:

 Particular of Room in the Factory (Form – 1)

 Questionnaire to Form – 1

 Certificate of Stability

 No Objection Certificate from the Fire Department

 No Objection Certificate from UPPCB

 Process Flow Diagram

 No Objection Certificate from Local Authority

 No Objection Certificate from Explosive Department

 No Objection Certificate from other concerned authorities

 Building’s BluePrint

 No Objection Certificate from Electrical Safety

 Proof of ownership of the premises of the factory

 Notification of Site

 Memorandum Article

 List of Directors

 Resolution for the declaration of occupier

 Safety Report

 On-Site Emergency Plan

  Safety and Health Policy

REGISTRATION PROCEDURE FOR FACTORY LICENSE

Section 6 of the Factories Act of 1948 has given the authorization to State
Government to administrate rules related to the registration and licensing of
factories under the Act on the following matters:

Rules for submission

The State Government may make rules for submission of the portrayal or plans of
manufacturing units. The association needs past approval from the chief reviewer
or state government for the augmentation or development of any industrial
facility. In any case, the substitution or expansion of active hardware does not
come into augmentation if it does not decrease the protected working space and is
additionally not dangerous to the soundness and wellbeing of the representatives.

Nature of plans and fee payable

The details and plan must be submitted for getting these permit applications
(Consents). It recommends the particulars and nature of such plans, and from
whom it will be approved. It similarly recommends the expenses payable for
renewal/ licensing / registration of licenses.
 Online procedure for the factory license registration on the official portal

Step 1

The Applicant has to visit the official online portal of the Labour Act
Management System.

Step 2

Click on the “Online Registration and Renewal.”

Step 3

The applicant has to login by providing the following information:

Step 4

After the registration is completed, the applicant will be directed to the page of
Factory Registration.
Step 5

After reading the directions carefully, the applicant has to click on “Agree”.

Step 6

The applicant must follow the following steps:

Step 7

Click on “View Application” to review the saved application form.

Step 8

Select the entrenched security form to edit the form and where payment and
attachments can be made.

Step 9

To add files like an identical form of letter or photos, click on “Attachment”.

Step 10

To open the attachment, click on the “Choose file”.

Step 11

To complete payment, click on “Payment”. The applicant can choose a suitable

payment method.

Step 12

Once the payment is processed and scanned, the applicant can keep its copy as
proof of fee payment.

Step 13

The application is successfully submitted.

According to the provisions of the Factory Act of 1948, it is compulsory for every
factory owner to obtain approval for building plans from the local authorities
before starting a factory. Factory License performs as an approval document
provided by concerned authorities to conduct manufacturing activities.
 11. EMPLOYEE DETAILS

Consider the following profile of a fictional employee John McClane, to get a

better understanding of how this section would look like:

1. Designation – Product Marketing Manager

2. Manager – Hans Gruber
3. Teams – Marketing, Sales
4. Direct Reports – Meriadoc Brandybuck, Peregrin Took
Personal details:

These are basic details that need to maintained in order to formulate and review
personnel policies and procedures. It gives a background about the employee’s
personal attributes, demographic information and essential identity proofs that are
required to be recorded as per the law.

While this information is important, it is not relevant at all times. In fact, more
often than not this data is legally necessary. But additionally, it can also help HR
teams analyse their resources based on different demographic criterion. e.g. if
diversity is of prime importance for an organisation, they can use the nationality
attribute to analyse.

1. Name – John McClane

2. Age – 31
3. Birth date – 31st October 1986
4. Gender – Male
 5. Marital status – Unmarried
6. Nationality – U.S. citizen
7. Blood Group – AB+
8. Educational Qualification – MBA (Marketing)
9. Permanent Address – 20 Ingram Street, Queens
10. Passport number – XXXXX007
11. PAN Details – XXXXXXX666
12. Country specific identity proof – NA
Contact details:

Workplace laws require employers to maintain updated employee contact details

at all times. For any correspondence, employers should be able to contact their
employees through via phone, email or in-person. In case of emergencies, it is
necessary to have information about who is the right person to be contacted and
how best to reach them.

1. Contact number – XXXXXXX666

2. Email address – john.mcclane@skynet.com
3. Address for correspondence – 20 Ingram Street, Queens
4. Emergency contact number – XXXXXXX221
5. Emergency contact person – Mary Jane
6. Relation with emergency contact person – Fiance
7. Mediclaim details provided – Yes
Employment details:

Employment records consist of details about employee’s past experience, date of

joining the current organization and referrals from previous managers and
colleagues (if any). Other information such as employee id number, work week
and leave policies are also recorded in this section. Even bank details are recorded
here through which employees receive their salaries.

This section server pure administrative purpose & is not looked at too often.
Having said that, if you are looking to track advanced HR metrics (such as
relationship between attrition rate at a certain experience level etc) this section
will hold important pieces of information for you.

1. Employee Identification Code – MI6-007

2. Employment Type – Permanent
3. Employment Status – Active
4. Date of Joining – 1st April 2014
5. Name of Bank – ACME Corp.
6. Bank Account number – XXXXXXXXXX2018
7. IFSC code – XXXXXX003
8. Work week – Monday to Friday
9. Last day of working – NA
Job details

While assigning employees to new projects or adding additional resources to

existing ones, this information can help to determine individuals who do not
currently have work assigned to them or those who have the capacity to take on
additional workload. They can quickly be shifted to the newer requirement
without wasting time so that productivity is not hampered and work continues
uninterrupted.

These records would consist of information that is relevant to his or her current
role in the organization such as:

1. Job description – Brand promotion, Digital Advertising, Sales Promotion

2. Skills and expertise – Grievance Slayer, Negotiation Ninja
3. Location – New York
4. Current Projects – Manhattan Project
Payroll records:

Different regions have different compliance laws when it comes to maintaining

payroll records. In some areas it may be made mandatory by law to store these
details, while the rest may not have such strict requirements.

For example, in the United States, under the Fair Labor Standards Act and the
state labor laws, companies are required to document reasons for decisions, so
payroll information needs to made readily available whenever required.

Training and development:

Employees need to be properly trained and developed to ensure they are

performing to their maximum potential and have the right skills to perform their
responsibilities efficiently. They should be capable of functioning with minimal
guidance while also having a clear picture of what is the outcome expected of
their actions.Keeping an accurate record of what training has been provided and
what are the current skill sets of the employee helps the company in many ways.
They can decide whether the employee can be given more responsibilities to
match their skills or should they be further trained to take on more managerial
roles. These records help to ensure employees become competent in other areas
apart from their basic duties.

Awards and achievements:

Recognition is one of the most powerful performance enhancers. Whenever

employees perform exceptionally well and achieve greater milestones, they are
bound to be recognized for their performance. Employers need to keep track of
these awards and achievements and acknowledge them during performance
evaluations. They may even be awarded for their efforts. It is necessary to note
here that often employees get disgruntled when their achievements are not
considered during their review process. This mostly happens due to not keeping a
record of achievements throughout the year. Thus, inadvertently managers tend to
forget to take these into account while appraising the performance and employees
miss out on reaping the benefits of their efforts. It is one of the primary reasons
employees leave organization. Much of the information, such as employment
details, is generic and can be made available to all other team members, managers
in addition to the HR team. Although certain details, such as medical
records should only be accessed by the HR team as it can possibly contain
confidential information. Individuals will not appreciate personal details about
their illnesses being shared across the entire organization.
Medical records thus are liable to receive the highest degree of confidentiality. In
certain regions, information such as religion or ethnicity is not required to be
shared. Yet if any company still demands it, the individual can sue them
according to that region’s laws.To summarize, define a structure and limit access
to information depending on the type of information and the level of authority of
the individual. Companies that promote transparency in their culture, would do
well to understand the difference between information that can be shared and
information that categorically can’t be shared.

Bonus: How to manage these employee records efficiently:

The first and foremost step is to eliminate the need to store physical documents of
these records. When you have tons of papers to store, it gets difficult to
efficiently organize, analyze or retrieve them at a moment’s notice. The best way
to go about it is to not let this process become an administrative burden. Maintain
up-to-date employee records through use of core HR tools.
12.CONCLUSION:

In summary the Foundry and moulding industry is a highly complex sector with a
large number of variables that can impact it.The Foundry and moulding industry
is no different in its complexity and influence.A thorough analysis of the different
operational sectors, PEST analysis, Porters industry analysis, and value chain
analysis were utilized to paint a clear picture of the mechanics and influencing
factors of the Foundry and moulding industry.Outlining the different sectors is
relatively simple for the Foundry and moulding industry. The primary and
secondary sectors are mostly done by the same business and the tertiary or
distribution sectors are done by others. As outlined in the report this is largely due
to the capital requirements forth different sectors and the ease of creating primary
and secondary operations nearby. Listening to the marketplace and its influences
on the Foundry and moulding is the intent of the PEST analysis