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A STUDY ON EFFECTIVENESS OF TRAINING AND
DEVELOPMENT WITH SPECIAL REFERENCE TO
M/s. VEEKESY POLYMERS PVT.LTD
Prepared By
JASVIN K JAISON
Under the guidance of
Dr. Sam Thomas
Assistant Professor SCHOOL OF MANAGEMENT STUDIES, CUSAT.
Submitted in partial fulfillment of the requirement for the award of theDegree of
MASTER OF BUSINESS ADMINISTRATION
To the Cochin University of Science and Technology
SCHOOL OF MANAGEMENT STUDIES
COCHIN UNIVERSITY OF SCIENCE AND TECHNOLOGYKOCHI-682022, KERALA
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DECLARATION
I do hereby declare that this report is a bonafide record of the internship done
by Jasvin K Jaison under the supervision of Dr. Sam Thomas, Assistant Professor
School of Management Studies and Hari Krishnan J. (Human Resource
Department), VKC GROUP DIVISION-II during the academic year 2014-2015,
in partial fulfillment of the requirement for the award of Degree of Masters
Programme in Business Administration of School of Management Studies, Cochin
University of Science and Technology, Cochin.
Place: Signature
Date:
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ACKNOWLEDGEMENT
I wish to take this opportunity to express my sincere expression of gratitude to eachand every one who helped me in the completion of this work.
I am very glad to express my gratitude to Dr. Sam Thomas,Assistant Professor, School of Management Studies, CUSAT for his valuablesuggestions, advice and encouragement during the course of my internship.
I would like to express my sincere gratitude and thanks to Mr. VKC Mammed Koya,Chairman VKC Group and also to HR Department, VKC Group, Division II.
Jasvin K Jaison.
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CHAPTERISATION
CHAPTER NO CONTENT Page No
Chapter I: INTRODUCTION OF THE
STUDY
5
Chapter II: CONCEPT 12
Chapter III: INDUSTRY PROFILE 32
Chapter IV: ORGANIZATION
PROFILE
38
Chapter V: FUNCTIONAL ANALYSISOF DIFFERENTDEPARTMENTS
47
Chapter VI SWOT ANALYSIS 66
Chapter VII: RESEARCH
METHODOLOGY
69
Chapter VIII: DATA ANALYSIS AND
INTERPRETATION
82
Chapter IX: SUMMARY AND
FINDINGS
126
Chapter X: PERSONAL LEARNINGSEXPERIENCES
131
Chapter XI: CONCLUSION 133
Chapter XII: BIBILOGRAPHY 135
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CHAPTER -1
INTRODUCTION OF THE STUDY
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INTRODUCTION OF THE STUDY
1.1 Introduction
William James of Harvard University estimated that employees could retain
their jobs by working at a mere 20-30 percent of their potential. His study led him
to believe that if these same employees were properly motivated, they could work at
80-90 percent of their capabilities. Behavioral science concepts like motivation and
enhanced productivity could well be used in such improvements in employee output.
Training could be one of the means used to achieve such improvements through the
effective and efficient use of learning resources.
1.1.1. Training and Development
Human resources, are the most valuable assets of any organization, with
the machines, materials and even the money, nothing gets done without man-power.
The effective functioning of any organization requires that employees learn to
perform their jobs at a satisfactory level of proficiency. Here is the role of training.
Employee training tries to improve skills or add to the existing level of the
knowledge so that the employee is better equipped to do his present job or to prepare
him for higher position with increased responsibilities. However individual growth
is not an end itself. Organization growth needs to be meshed with the individual’s
growth. The concern is for the organization viability, that it should adapt itself to a
changing environment. Employee growth and development has to be seen in the
context of this change. So training can be defined as:
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Training is a systematic development of the knowledge, skills and attitudes required
by employees to perform adequately on a given task or job
The need for improved productivity in organization has become universally
accepted and that it depends on efficient and effective training. However, the need
for organizations to embark on staff development programme for employees has
become obvious. Absence of these programme often manifest tripartite problems of
incompetence, inefficiency and ineffectiveness. So training and development aim at
developing competences such as technical, human, conceptual and managerial for
the furtherance of individual and organization growth which makes it a continuous
process.
1.2. Statement of Research Problem
Training and development play vital role in any given organizations in the
modern day. It is aimed at preparing employees for future or current jobs. The
efficiency and productivity of the firm can be increased considerably with right
training methods. This is the reason why HR department gives Training such a huge
importance. So it is essential that we conduct studies and experiment s to improvise
our training methods.
The motive behind this study is to understand the effectiveness of training and
development programs on the employees of M/s. Veekesy Polymers pvt.ltd, Calicut.
The training cannot be measured directly but the change in attitude and behavior that
occurs as a result of training. By studying and analyzing the response of employees
regarding training, we can make scientific conclusions, which is the core idea of this
study.
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Problem Statement
The intention of this research is to analyze and evaluate the effectiveness of training
and development process in M/s. Veekesy Polymers pvt.ltd, Calicut.
1.3. Need for the study
Training is the act of increasing the knowledge and skills of an employee for
doing a particular job. It utilizes a systematic and organized procedure by which
employee learns technical knowledge and skills. Training refers to the teaching and
learning activities carried on for the primary purpose of helping members of an
organization.
Training is closely related with education and development but needs to be
differentiated from these terms. It is aimed at improving the behavior and
performance of a person.
Training is a continuous and life long process. Training provides an
atmosphere of sharing synthesizing with the help of the trainers, the information
already available on the subject.
1.4. Significance of the study
The development of any organization depends on its employees. For
organizational productivity training and development assumes great significance.
Training aims at increasing the knowledge and skills of the employee whereas
organizational development on the other hand refers to overall improvement of theorganization such as its structure, objectives, policies and procedures including
managers and employees. Organizational development can be achieved by hiring the
services of the professional’s consultants. Training and development programs are
often viewed as part of organizational development.
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A better knowledge about these things can facilitate the trainer as well as the
trainee in conducting and benefiting from the training. But training being a very
complex process makes it a bit difficult. So the best way to achieve it is by studying
and analyzing the feedback of employees as well as managers.
The project includes collecting information from staffs of M/s. VEEKESY
POLYMERS PVT.LTD, analyzing it, interpreting it, and concluding useful
suggestions from it.
Some of the benefits of project are listed below.
Our project is conducted to know the level of knowledge and skills imparted
into employees.
This will help the management to know the efficiency of their training
programs as well as the satisfaction level of employees and thus take
necessary managerial decisions.
The inferences made out of the project can help the employer and employee
to contribute for the better training facilities.
Any training and development program should meet both primary and
secondary objectives of the organization. The study will give light in the
designing of better training programs aiming solely at the desired results.
1.5. Objectives of Study
Primary Objective
To study the effectiveness of training and development programs in M/s.
Veekesy Polymers pvt.ltd, Calicut.
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Secondary Objectives
To study the methods used in training the employees
To analyze whether the quality of training and satisfaction of respondents
related.
To analyze whether the employees are satisfied with their current training
methods.
To collect and analyze the views of the participants and superior on the
training.
To study the training program on the basis of relevance, implementation and
outcomes.
1.6. Methodology
Research methodology is a way to systematically solve the research problem.
It may be understood as a science of studying how research is done scientifically. Init we study the various steps that are generally adopted by a researcher in studying
his research problem along with the logic behind them.
Methodology gives us the blueprint of activities to be carried out
systematically in order to complete the study successfully. The methodology of our
study has several steps [listed below] each of them are explained in chapter IV.
Formulating the Research Problem
Extensive Literature Review
Developing the objectives
Preparing the Research Design including Sample Design
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Collecting the Data
Analysis of Data
Generalization and Interpretation
Preparation of the Report or Presentation of Results-Formal write
ups of conclusions reached.
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CHAPTER - 2
CONCEPT
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CONCEPT
Introduction
Training is the process of assisting a person for enchanting his efficiency and
effectiveness at work by improving and updating his professional knowledge by
developing skills relevant to his work and cultivating appropriate behavior and
attitude towards work and people.
Training could be designed either for improving present at work or for
preparing a person for assuming higher responsibilities in further which would call
for additional knowledge and superior skills.Training is different education particularly formal education. While education
is concerned mainly with enhancement of knowledge, training aims essentially at
increasing knowledge, stimulating attitude and imparting skills related to a specific
job.
It is a continuous and life long process. Training provides an atmosphere of
sharing and synthesizing, with the help of the trainers, the information already
available on the subject. Training is a time bound activity program. Thus there is a
separate specialized discipline of trainers socializing in the field of human activity.
2.1. Meaning
A business' most important asset is often its people. Training and developing
them can be one of the most important investments a business can make. The right
training can ensure that your business has the right skills to tackle the future. It can
also help attract and retain good quality staff, as well as increasing the job
satisfaction of those presently with you - increasing the chances that they will satisfy
your customers.
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Thus Training is the act of increasing the knowledge and skills of employee.
It is a universal truth that the human resources available in an organization have to
be managed more efficiently than the material resources comprising of machines and
money.
Eloquently putting “Training is a systematic development of the knowledge,
skills and attitudes required by employees to perform adequately on a given task or
job”.
2.2. Definition
“Training is the continuous, systematic development among all levels of employees
of that knowledge and those skills and attitudes which contribute to their welfare and
that of the company”.
- M.C Lord and Efferson
“Training may be defined as a process of developing an understanding of some
organized body of facts, rules and methods. This information concerns largely the
operative phases of an applied knowledge”.
- R.C Davis
2.3. Theories of training and development
2.3.1. Kirkpatrick evaluation model
The Kirkpatrick evaluation model or theory was developed in 1959 by
University of Wisconsin professor emeritus Donald Kirkpatrick. It consists of four
levels of evaluation: reaction of participants; learning, or the knowledge and skills
gained; behavior, or the ability to apply the new skills; and results, or the
organizational impact. Each level of evaluation builds upon and adds precision to
the previous level.
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The reaction:
The reaction level measures how training participants react, including their
level of participation; ease and comfort of experience; and the level of effort required
to make the most of the learning. A reaction evaluation is inexpensive and simple to
administer using interaction with the participants, post-training surveys and online
questionnaires. The evaluation can be done immediately after the training ends. It is
important that participants have a positive reaction to the training sessions because
a negative reaction leads to poor learning.
The learning:
Learning evaluations are usually conducted before and after a training
program to assess the impact the program has had on the learning process.
Evaluations assess whether participants have advanced in knowledge, skills and
intellectual capacity as a result of the training. Learning evaluation tools include self-
assessment using online questionnaires and tests, and formal assessment through
interviews and observations. Learning evaluation is especially relevant for technical
training because technical skill level changes are usually more quantifiable.
Behavior:
Behavior evaluation assesses the extent to which training participants apply
the learning in their jobs. The evaluation is usually done over a period of time to
determine if the participants use the new skills and knowledge on the job, improve
their performance and transfer the knowledge to their peers. Tools include
observations, questionnaires, tests and interviews. Behavior evaluations take more
time and effort than reaction and learning evaluations. It is important to involve the
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line managers and immediate supervisors in the process because they are in the best
position to observe and assess participant behavior changes.
Results:
Results evaluation determines the success of a training program in operational
and strategic terms, such as increased sales, reduced expenses, improved quality and
reduced cases of workplace injuries. However, it may not always be possible to
correlate improved operational performance with training. For example,
improvements in product quality may be due to better design tools and more
qualified staff, not just a new quality training program. External factors, such as
changes in the economy and the competitive environment, may also influence
operational results.
2.3.2. Theory X and Theory Y
Theory X and Theory Y are theories of human motivation created and
developed by Douglas McGregor at the MIT Sloan School of Management in the
1960s that have been used in human resource management, organizational behavior,
organizational communication and organizational development. They describe two
contrasting models of workforce motivation.
http://en.wikipedia.org/wiki/Douglas_McGregorhttp://en.wikipedia.org/wiki/MIT_Sloan_School_of_Managementhttp://en.wikipedia.org/wiki/Human_resource_managementhttp://en.wikipedia.org/wiki/Organizational_behaviorhttp://en.wikipedia.org/wiki/Organizational_communicationhttp://en.wikipedia.org/wiki/Organizational_developmenthttp://en.wikipedia.org/wiki/Organizational_developmenthttp://en.wikipedia.org/wiki/Organizational_communicationhttp://en.wikipedia.org/wiki/Organizational_behaviorhttp://en.wikipedia.org/wiki/Human_resource_managementhttp://en.wikipedia.org/wiki/MIT_Sloan_School_of_Managementhttp://en.wikipedia.org/wiki/Douglas_McGregor
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Theory X
In this theory, which has been proven counter-effective in most modern
practice, management assumes employees are inherently lazy and will avoid work if
they can and that they inherently dislike work. As a result of this, management
believes that workers need to be closely supervised and comprehensive systems of
controls developed. A hierarchical structure is needed with narrow span of control
at each and every level. According to this theory, employees will show little ambition
without an enticing incentive program and will avoid responsibility whenever they
can. According to Michael J. Papa, if the organizational goals are to be met, theory
X managers rely heavily on threat and coercion to gain their employees' compliance.
Beliefs of this theory lead to mistrust, highly restrictive supervision, and a
punitive atmosphere. The Theory X manager tends to believe that everything must
end in blaming someone. He or she thinks all prospective employees are only out for
themselves. Usually these managers feel the sole purpose of the employee's interest
in the job is money. They will blame the person first in most situations, without
questioning whether it may be the system, policy, or lack of training that deserves
the blame. A Theory X manager believes that his or her employees do not really
want to work, that they would rather avoid responsibility and that it is the manager's
job to structure the work and energize the employee. One major flaw of this
management style is it is much more likely to cause diseconomies of scale in large
businesses.
Theory Y
In this theory, management assumes employees may be ambitious and self-
motivated and exercise self-control . It is believed that employees enjoy their mental
and physical work duties. According to Papa, to them work is as natural as play.
They possess the ability for creative problem solving, but their talents are underused
http://en.wikipedia.org/wiki/Diseconomies_of_scalehttp://en.wikipedia.org/wiki/Diseconomies_of_scale
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in most organizations. Given the proper conditions, theory Y managers believe that
employees will learn to seek out and accept responsibility and to exercise self-
control and self-direction in accomplishing objectives to which they are committed.
A Theory Y manager believes that, given the right conditions, most people
will want to do well at work. They believe that the satisfaction of doing a good job
is a strong motivation. Many people interpret Theory Y as a positive set of beliefs
about workers. A close reading of The Human Side of Enterprise reveals that
McGregor simply argues for managers to be open to a more positive view of workers
and the possibilities that this creates. He thinks that Theory Y managers are more
likely than Theory X managers to develop the climate of trust with employees that
is required for human resource development.
It's human resource development that is a crucial aspect of any organization.
This would include managers communicating openly with subordinates, minimizing
the difference between superior-subordinate relationships, creating a comfortable
environment in which subordinates can develop and use their abilities. This climate
would include the sharing of decision making so that subordinates have say in
decisions that influence them.
Theory X and Theory Y combined
For McGregor, Theory X and Y are not different ends of the same continuum.
Rather they are two different continua in themselves.
2.3.3. Abraham Maslow's Hierarchy of Needs motivational model
Abraham Maslow developed the Hierarchy of Needs model in 1940-50s USA,
and the Hierarchy of Needs theory remains valid today for understanding human
motivation, management training, and personal development
The Maslow's Hierarchy of Needs five-stage model below (structure and
terminology - not the precise pyramid diagram itself) is clearly and directly
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attributable to Maslow; later versions of the theory with added motivational stages
are not so clearly attributable to Maslow.
These extended models have instead been inferred by others from Maslow's
work. Specifically Maslow refers to the needs Cognitive, Aesthetic and
Transcendence (subsequently shown as distinct needs levels in some interpretations
of his theory) as additional aspects of motivation, but not as distinct levels in the
Hierarchy of Needs.
Where Maslow's Hierarchy of Needs is shown with more than five levels these
models have been extended through interpretation of Maslow's work by other
people. These augmented models and diagrams are shown as the adapted seven and
eight-stage Hierarchy of Needs pyramid diagrams and models below.
There have been very many interpretations of Maslow's Hierarchy of Needs
in the form of pyramid diagrams. The diagrams on this page are my own
interpretations and are not offered as Maslow's original work. Interestingly in
Maslow's book Motivation and Personality, which first introduced the Hierarchy of
Needs, there is not a pyramid to be seen.
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1. Biological and Physiological needs - air, food, drink, shelter, warmth, sex, sleep,
etc.
2. Safety needs - protection from elements, security, order, law, limits, stability, etc.
3. Belongingness and Love needs - work group, family, affection, relationships, etc.
4. Esteem needs - self-esteem, achievement, mastery, independence, status,
dominance, prestige, managerial responsibility, etc.
5. Cognitive needs - knowledge, meaning, etc.
6. Aesthetic needs - appreciation and search for beauty, balance, form, etc.
7. Self-Actualization needs - realizing personal potential, self-fulfillment, seeking
personal growth and peak experiences.
8. Transcendence needs - helping others to achieve self-actualization.
2.4. Institutional Training
Every organization needs the services of trained persons for performing the
activities in a systematic way. It is in this regard to some extent, training for the
students of business courses in various functional areas become mandatory before
entering in to the corporate Jobs.
No doubt, the employee training is required in every stage, very frequently.
Since, the fast changing technological development makes the knowledge of
employees obsolete. They require constant training to cope with the needs of
corporate sector. They require constant training to cope with the needs of jobs. After
selecting the employees the next task of management is to give them proper
training. Some employees may have some previous knowledge of jobs while others
may entirely be new. Both types of workers will need some kind of training to
acquaint themselves with the hobs though it is more necessary for the later category
of employees.
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Large organizations may employ a large number of persons every year. It
may not be possible to recruit already trained persons. Such enterprises require
separate training departments to prepare training for preparing workers for jobs and
also keeping them acquainted with latest technological advancement.
Training of employees is essential because work force is an invaluable asset
to an organization. Training is necessary for the following reasons.
« Increased Productivity
Training improves the performance of employees. Increase skill and
efficiency results in better quantity and quality of production. A trained worker will
handle machines carefully and will use the materials in an economical way.
« Higher Employee Morale
A trained worker derives happiness and job satisfaction from his work. He
feels happily when his performance is up to the mark. This also gives him job
security and ego satisfaction. The employees will properly look after a worker who
performs well. All these factors will improve employee’s morale.
« Less Wastages
Untrained worker my waste more materials, damage machines and
equipment’s and may cause accidents. A trained worker will know the art of
operating the machine properly. He will also use the materials and other equipment
in a systematic way causing less wastage. The control of various wastes will
substantially reduce the manufacturing cost. The amount spend on training the
workers will prove an asset to the organizations.
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« Reduce Turnover and Absenteeism
Labor turnover and absenteeism are mainly due to job dissatisfaction. When
a worker is properly trained he will take keen interest in his job and can derive
satisfaction from it. A satisfied person may not like to leave his job and try at a new
place.
« Employee Development
Training also helps in the development of employees. It first helps in locating
talent in them and then developing it to the maximum. The adaptability of a worker
will help him in working on new and improved jobs. If a worker learns fast then be
able to develop his talent and improve his performance.
2.5. Needs of Training
To enable the new recruits to understand work:
A person who is taking up his job for the first time must become familiar withit. For example, if a fresh graduate is appointed as a clerk in a bank, he must
first of all gain knowledge of work assigned to him.To enable existing employees to update skill and knowledge.
Training is not something needed for the newly recruited staff alone. Even theexisting employees of a concern may require training. Such training enablesthem to update their skill and knowledge.To enable an employee who has been promoted to understand hisresponsibilities.
Training is essential for an employee who has just been promoted to a higherlevel job. With an evaluation in his position in the organization, hisresponsibilities are also going to multiply.To enable an employee to become versatile.
Sometimes an employee may have to gain knowledge of several related jobs.It will not be enough if he is only good in the work he does presently.
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2.6. Purpose of training
One of the main purpose of training is to prevent industrial accidents. This is
done by creating safety consciousness among workers.
When the employees are trained it enables them to achieve the required level
of performance which in turns increases the productivity.
Training helps in increasing the knowledge and skills of employee
When the employees are trained it becomes easy for them to adapt themselves
according to the changes made in business.
Training reduces the cost of supervision. Trained employees needs less
guidance which in turns reduces the needs for supervision.
2.7. Importance of Training
Improvement in skill and knowledge:
Such training helps the employees to perform his job much better. This
benefits the enterprise as well.
Higher production and productivity:
If an enterprise has a team of well trained employees there will be rise in
production as well as increase in productivity. Productivity is the input- output
ratio
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Job satisfaction:
Trained employees will be able to make better use of the making of their skill.
This increases their level of self-confidence and commitment to work. Such
employees are bound to have higher job satisfaction.
Better use of resources:
Employees will be able to make better use of materials and machines. This
reduces the rate of wastage and spoilage of materials and also breakage of
tools and machines
Reduction in accidents:
Trained employees are aware of safety precautions and so they are alert and
cautious. This is bound to bring down the number of accident in the works
place.
Reduced supervision:
Well trained employees do not need much supervision. They can do their work
without having to approach their superior often for guidance.
Reduction in complaints:
‘Only bad workers blame their tools’. An employee who has acquired the
necessary skill and job knowledge would certainly love his job.
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Adaptability:
Trained workers have the capacity to adapt themselves to any kind of
situation. They are odd in crisis management too. This indeed is beneficial for
the organization.
Scope for management by exception:
With trained workers working under them, it becomes easy for the managers
to get things done by delegating authority. This enables the managers to
concentrate more on important issues confronting the organization.
Stability:
“The employees of today are going to be the managers of tomorrow”. The
retirement of key managers may not affect the stability of an organization if it
has a team of trained, efficient and committed employees who are ever ready
to take over management.
2.8. Features of training
The features of good training programs are as follows:-
Clear purpose:
The objective of the programme should be clearly specified. The training
should be result oriented.
Training needs:
The training needs of employees should be clearly defined. The methods
selected for imparting training should be appropriate and effective.
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Relevance:
The training programme and its contents must be relevant to the requirements
of the job for which it is intended.
Balance between theory and practice:
A good training programme should provide a balanced mix of theory and
practice the theoretical framework should be backed by practical application
to provide all round training.
Management support:
Top management must actively support the training programme so that the
training programme may help the employees to yield better results. Once the
employees get the support form management support the perform there job
more effectively.
2.9. Steps involved in training:
Step1:
Define the chart part of the organization in which the work has to be done. It
is to have a focused approach of the study. It could either be a particular
department, a section, a unit, a specific group or a staff category.
Step2:
Use various data collection measures to collect both qualitative as well as
quantitative data.
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Step3:
Analyze the entire data collected in order to find out causes of problem areas
and priorities areas, which need immediate attention.
Step4:
Priorities the different training programmes according to the responses
collected.
Step5:
Record and file the entire data so that it can be used for future reference while
designing training programmes / training calendar.
2.10. Methods and Types of Training and their Advantages and Disadvantages.
Following chart illustrates advantages and disadvantages for the different training
methods.
Training Method Type of Training Advantages Disadvantages
Instructor-
Led Training
Classroom Revised easily Scheduling is difficult
Developed quickly Travel costs
Face-to-face contactDifferences from class
to class
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On-line
Group Training No travel costs
Requires computer
equipment
Developed quickly No face-to-face contact
Videoconferencing
and Video/On-line
Supports large
groups and multiple
sites
High equipment costs
No travel costsLogistically
challenging
On-the Job CoachingEffective knowledge
transfer
Differences frominstructor to instructor,
session to session.
Related to trainee's
job
Costly in terms of
instructor-to-trainee
ratio
Face-to-face contact
On-line
Self-Directed
Training
All On-line TrainingConsistent training
content
High development
costs
Convenient access to
training
Lengthy development
time
Trainee sets own
pace
Requires computer
equipment
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Reuse does not
require trainer
participation
Web-Based Training Easy to modify
Limited bandwidth
causes slow download
times.
CD-ROM/DVDSupports complex
multimediaDifficult to modify
Off-line
Self-Directed
Training
Printed Material Portable Less Interesting
Trainee sets own
paceDifficult to modify
Developed quickly
Video DVD orAudio CD
Consistent trainingcontent
Requires playbackequipment
Can share copiesCan be costly to
develop
Trainee sets own
paceDifficult to modify
Just-In-Time
Training
Electronic
Performance Support
System (EPSS)
Available when
needed at trainee's
convenience
Costly to develop
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Related to trainee's
job
Requires computer
equipment
Continuous
Improvement
Promotes employee
involvement
Requires training
resources that are
readily available on a
continuous basis
Promotes creative
solutions
Differences from
instructor to instructor
Computer-Mediated
Asynchronous
Collaboration
Accessible at thetrainee's convenience
Requires computerequipment
Promotes creative
solutions
Can require computer
software
Promotes employee
involvement
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2.11. Training Design
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CHAPTER -3
INDUSTRY PROFILE
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INDUSTRY PROFILE
Footwear refers to garments worn on the feet, for fashion, protection against theenvironment, and adornment. Some cultures chose not to wear footwear, at least in
some situations. The term footwear covers a vast range of products made from manydifferent materials. Boots, shoes, sandals, slippers, clogs and so forth are madewholly or partly of leather, rubber, synthetic and plastics materials, canvas, rope andwood. Economic, demographic and other factors have transformed the footwearindustry in recent years.
Durable shoes are a relatively recent invention, though many ancient civilizations
wore ornamental footwear. Many ancient civilizations saw no need for footwear.
The Romans saw clothing and footwear as signs of power and status in society, and
most Romans wore footwear, while slaves and peasants remained barefoot. TheMiddle Ages saw the rise of high-heeled shoes, also associated with power, and the
desire to look larger than life, and artwork from that period often depicts bare feet
as a symbol of poverty. Bare feet are also seen as a sign of humility and respect, and
adherents of many religious worship or mourn while barefoot, or remove their shoes
as a sign of respect towards someone of higher standing.
In some cultures, people remove their shoes before entering a home. Some religious
communities require people to remove shoes before they enter holy buildings, suchas temples.
Spanish cave drawings from more than 15000 years ago show humans with animal
Skins or furs wrapped around their feet. The body of a well preserved “ice man”
nearly 5000 Years old wears leather foot stuffed with straw. Shoes, in some form or
another, have been around for a very long time. The evolution of foot coverings,
from the sandal to present-day athletic shoes that are marvels of engineering,
continues even today as we find new materials with which to cover our feet. We are,in fact still wearing sandals- the oldest crafted foot covering known to us.
Moccasins are still readily available in the form of the loafer. In fact, many of the
shoes we wear today can be traced back to another era. The Cuban heel may have
been named for the dance craze of the 1920s, but the shape can be seen long before
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that time. Soles, which are one of the most recognizable features of footwear in the
1970s and 1990s, were handed down to us from 16th century choppiness. Then, high
soles were a necessity to keep the feet off of the dirty streets. Today they are worn
strictly for fashion’s sake. If one can deduce the basic shoe shapes have evolved somuch, it is necessary to discover why this has happened. It is surely not due to a lack
of imagination- the colours and materials of shoes today demonstrate that. Looking
at shoes from different parts of the world, one can see undeniable similarities. While
the venetians were wearing the choppiness, the Japanese balanced on high-soled
wooden shoes called get. Though the shape is slightly different, the idea remains the
same. The venetians had no contacts with the Japanese, so it is not a case of imitation.
Even the mystical Chinese practice of foot binding has been copied in our culture.
Some European women and men of the past bound their feet with tape and squashed
them into too-tight shoes. In fact, a survey from the early 1990s reported that 88%of
American wears shoes that are too small! As one examines footwear history, both in
the west and in other parts of the world, the similarities are apparent. Though the
shoemakers of the past never would have thought to pair a sandal with a platform
sole, our shoe fashions of today are, for the most part, modernized adaptations of
past styles.
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PERFORMANCE OF INDIAN FOOTWEAR INDUSTRY
Indian footwear Industry has grown tremendously in the past and today it is a very
significant segment of the leather industry in India. India is the second largest
producer of footwear after China, accounting for ~15% of world’s footwear
production.
Trends in the Industry:
• Online Sales
• Changing material preferences
• Increasing Capacities • Rise of Premium & Luxury brands
India is standing on the threshold of a retail revolution and witnessing fast
changing retail landscape. With such transformation footwear market is set to
experience phenomenal growth in coming years. Footwear Industry in India has
been taking a smooth ride to growth. The industry is backed by burgeoning
domestic consumption of footwear. With growing fashion consciousness among
the Indian populace coupled with rising disposable incomes and support from
Indian government in the form of FDI has made many premium andluxury shoe brands to turn to India for growth. India remains an attractive market
for both international and local footwear players with huge population base, rising
spending power of the growing middle class in the country and increased fashion
consciousness among young and women. India is the second largest global
producer of footwear after China. With changing lifestyles and increasing
affluence, domestic demand for footwear is projected to grow at a faster rate than
has been seen. There are already many new domestic brands of footwear and many
foreign brands such as Nike, Adidas, Puma, Reebok, Florsheim, Rockport, etc.have also been able to enter the market. The footwear sector has matured from the
level of manual footwear manufacturing methods to automated footwear
manufacturing systems. Many units are equipped with In-house Design Studios
incorporating state-of-the-art CAD systems having 3D Shoe Design packages that
http://www.pr-inside.com/report-on-footwear-industry-in-india-r3634963.htmhttp://www.pr-inside.com/report-on-footwear-industry-in-india-r3634963.htmhttp://www.pr-inside.com/report-on-footwear-industry-in-india-r3634963.htmhttp://www.pr-inside.com/report-on-footwear-industry-in-india-r3634963.htm
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are intuitive and easy to use. The Indian Footwear Industry is gearing up to
leverage its strengths towards maximizing benefits.
Strength of India in the footwear sector originates from its command on reliable
supply of resources in the form of raw hides and skins, quality finished leather, largeinstalled capacities for production of finished leather & footwear, large human
capital with expertise and technology base, skilled manpower and relatively low cost
labor, proven strength to produce footwear for global brand leaders and acquired
technology competence, particularly for mid and high priced footwear segments.
Resource strength of India in the form of materials and skilled manpower is a
comparative advantage for the country.
There are nearly 4000 units engaged in manufacturing footwear in India. Theindustry is dominated by small scale units with the total production of 55%. The totalturnover of the footwear industry including leather and non-leather footwear isestimated at Rs.8500-9500 crore (Euro 551.3-1723.1 Million) including Rs.1200-1400 crore (Euro 217.6-253.9Million) in the household segment. India’s share inglobal leather footwear imports is around 1.4% Major Competitors in the exportmarket for leather footwear are China (14%), Spain (6%) and Italy (21%).India’sexports of leather footwear touched US$331 million in 1999-2000, recording anincrease of 3.29% over the preceding year.. The major markets were the UK, USA,France, Italy, Russia, etc. In 1999-2000, export of leather footwear from India
contributes 21% share of its total export of leather and its products. The footwearindustry exist both in the traditional and modern sector. While the traditional sectoris spread throughout the country with pockets of concentration catering largely tothe domestic market, the modern sector is largely confined to select centres likeChennai, Ambur, Ranipet, Agra, Kanpur and Delhi with most of their production forexport.
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INDIAN FOOTWEAR COMPONENTS INDUSTRY
The footwear components which are exported from India are leather shoe upper
and leather unit soles. The estimated annual production capacity of leather shoe
upper’s is 112 million pairs. The major production centers are Chennai, Ranipet,Agra, TamilNadu etc. The component industry has enormous opportunities for
growth to cater to increasing production of footwear of various types, both for
export and domestic market. Nearly 75% of total export of footwear component is
from the southern region followed by northern region with a share of 13%.Nearly
83% of the India’s export of footwear component is from the UK, Germany, Italy,
USA, France and Portugal.
To ensure high quality and safety of footwear, manufacturers have to make sure all
products comply with existing and relevant standards. By producing footwear inaccordance with national and international regulations, potential risks can be
minimized and the interest of both textile manufacturers and consumers can be
protected.
The following standards/regulations apply to footwear products:
CPSIA
GB Standards EN Standards for footwear
ASTM Standards
ISO Standard
AAFA Restricted substance list.
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CHAPTER
4ORGANIZATION PROFILE
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ORGANIZATION PROFILE
VKC GROUP OF COMPANIES
“VKC group of companies are the leading footwear manufacture especially in
southern region of India. The group established on (August17) 1984 with a nominal
capital and few employees. In 1984 the founder of the group Mr. V.K.C. Mammed
Koya started a Hawai Sheet manufacturing unit with his two brothers. Later on
Hawai straps were also inducted to the production line and in 1986 VKC grouplaunched the first product with its own brand name in the market viz. VKC Hawai
with an initial production of 600 pairs per day. By 1989 the production increased to
5000 pairs a day and by 1996 it jumped to 17000 pairs.
In between the founder initiated the floating of the first RPVC (Rigid Polyvinyl
Chloride) footwear manufacturing unit in the Malabar Area of Kerala state with few
of his friends. This product also got very good acceptance in the market. This
resulted in a rapid change in the footwear industry itself. Within a few years the
number of Rubber and RPVC unit grew to more than 80 in this area.
In 1994 the group ventured the first unit in Kerala to manufacture footwear from
virgin PVC. This resulted in a drastic change and the multinational brands
confronted competitions from the local brands. In 1998 the group started the first
Micro Cellular PVC footwear in Kerala with the help of imported plant and
machinery. “Quality at low price” made the VKC groups products popular in the
market day by day.
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In 2001 the group started the first Air Injected PVC DIP footwear manufacturing
unit in the South India. In 2003 the group missioned the first Injected EVA
manufacturing unit in South – Central India. In 2006 the group started backward
integration to produce EVA compound for Injection and started the first EVA
compounding plant in the South – Central India. The unit went in 2007 the group
started manufacturing of PU DIP footwear.
During this period new bloods with technical, commercial and practical knowledge
were inducted and now the group consists of 25 working Directors and 100 share
holders spread over 16 various units. More than 4000 employees are working in
these units.
The company had achieved a prominent position in the footwear market of India.
The main markets, which have been focused by the company are Kerala, Tamilnadu
Karnataka, Madhya Pradesh, Gujarat, and Andhra Pradesh. It has now expanded its
market in countries such as Saudi Arabia, Dubai, Kuwait, Oman, Bahrain and Qatar.
The good quality and variety in models of VKC products help the companies to face
the market competition positively. The company has been able to maintain the
quality of the products by adopting foreign technologies. The group is now looking
for further avenues in the field of footwear to stretch their hands.
VisionTo provide quality products to the customer at an affordable price.
Mission
To meet the market demand and to achieve a prominent position in the Footwear
industry.
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Motto
“Quality products at Affordable Price”
The Head Quarter of VKC group is in CALICUT and the main plants of VKC group
of companies are situated in Kerala and TamilNadu. The following are the associate
companies of VKC group.
1. M/s. VEEKESY RUBBER INDUSTRIES PVT.LTD.
2. M/s. VEEKESY ELASTOMERS PVT.LTD.
3.
M/s. VEEKESY POLYMERS PVT.LTD.4. M/s. SANDLON TECHNOLOGIES PVT.LTD.
5. M/s. FORTUNE ELASTOMERS PVT.LTD.
6. M/s. CALTECH POLYMERS PVT.LTD.
7. M/s. SLIPONS INDIA PVT.LTD
8. M/s. DIADORA SHOES PVTLTD.
9. M/s. DIMESCO FOOTCARE INDIA PVT LTD.
10. M/s. FERRARI SHOES (INDIA) PVT.LTD
11. M/s. VEEKESY FOOTCARE (INDIA) PVT. LTD
12. M/s. FERRERO VINYL TECHNOLOGIES PVT.LTD
13. M/s. MORBIDO VINYL PVT.LTD.
14. M/s. SMARTAK FOOTCARE PVT. LTD.
15. M/s. VKC FOOTSTEPS INDIA PVT.LTD
16.
VKC FOOTPRINTS GLOBAL PVT LTD
17. VKC FOOTWEAR INTERNATIONAL PVT LTD
18. M/s VEEKESY SANDALS INDIA PVT LTD
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COMPANY POLICY
Implement programmes of continuous education & specialized training infootwear component technology and management issues.
Promote a healthy growth of the footwear component industry and its imports.
Organize technical and labour assistance for members to attain highest levelof quality.
Promote goodwill among component manufacturers.
Promote interaction among members of development of products of betterquality.
BRANDS PRODUCED BY VKC
VKC producing 8 different brands and providing it to market. The brands are:
VKC TRENDZ
VKC PRIDE
SLIPONS
VKC STILE
VKC JUNIOR
VKC WALKAROO
SMARTAK
VKC LITE
VKC LE-STYLE
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COMPETITORS
PARAGON RUBBER INDUSTRIES
HARITHA HAWAI, KERALA, INDIA
HAWALKER RUBBER INDUSTRIES, KERALA
ODYSSIA RUBBER INDUSTRIES, KERALA
PREMIERE FOOTWEAR
NEXO FOOTWEAR
CUBIX FOOTWEAR
QUALITY POLICY
In order to satisfy the customer needs, first the company provides footwear whichoffers better style, comfort, elegance, finish, colours and durability. Quality
performance demonstrated is the result of optimization of design, effective process
control in manufacturing together with testing and approval process in the
environment of Quality management system.
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COMPANY PROFILE OF M/s. VEEKESY POLYMERS PVT.LTD
M/s. Veekesy Polymers Pvt. Ltd. is registered as a private limited company and is
first of its kind in South Central India for manufacturing of injected EVA footwear’s.
M/s. Veekesy Polymers Pvt. Ltd. is one of the associate concerns of renowned VKC
Group of Companies. The founder of M/s. Veekesy Polymers Pvt. Ltd. is Mr. V.K.C.
MAMMED KOYA. The company is situated at Ramanattukara, Kozhikode.
The Managing Director of the company is Mr. V. Rafeeque. He was awarded with
Best Entrepreneur of Kerala and Best Entrepreneur of Kozhikode district for the year
2003.
The Company has been able to achieve a landmark in the field of footwear through
the continuous researches in footwear industry. The company manufactures “VKC
Lite” brand footwear having EVA sole with PVC and synthetic leather upper. The
company was incorporated in 01.01.1996 under the Companies Act 1956 and
commenced its production on 13.04.1998. Now a day’s company produces EVA and
PU footwear’s.
All affairs and day-to-day business administration of the firm is vested in the hands
of Board of Directors. They are in charge of various functions pertaining to Finance,
Production, HR, Marketing, Administration and Materials departments. The board
is assisted by well qualified staff members. Each department has functional heads,
senior and junior executive in order to support and help functional heads.
M/s. Veekesy Polymers Pvt. Ltd has a good market for their product in Kerala,
Tamil Nadu, Andra Pradesh, Maharashtra, Chhattisgarh, Orissa, Gujarat because of
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the quality and the affordable price of the product. The management gives high
priority to the quality of the product. The company assures the quality of the product
through the continuous quality checking in each and every stages of the production
process.
The quality of the VKC products is unrivalled in the market. The Footwear’s
introduced by the company has been growing and evolving with the changing trends
over the year. The company first manufactured “Senor Cinderella” brand footwear
having PVC sole with leather and synthetic leather upper. Now the company is
manufacturing VKC Pride and VKC Lite. VKC Pride is sold in Kerala, Tamil Nadu,
Andra Pradesh, Maharashtra, Chhattisgarh, Orissa, Gujarat and VKC Lite in Kerala
and Tamil Nadu alone. In the recent years the customers prefer the injected EVA
Footwear’s rather than any other Footwear. We also export our products to Kuwait,
Oman and Jiddah.
As we are manufacturers of footwear, we focus mainly on production process of the
organization. The function of the production department is to produce our products
on time, to the required quality levels, at the defined product cost. The advantage of
the company is the implementation of Italian technology used for the injection
moulding process. Moulding process is the main activity and the key process of
manufacturing of quality footwear. This will help the company to assure high quality
with accurate size and good finish to the product. Of major concern to the production
manager is monthly output. Production managers have monthly targets which they
are expected to strive to meet or exceed.
The production department of M/s. Veekesy Polymers Pvt. Ltd comprises of well
experienced staff members starting from functional head, department head,
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coordinator, supervisors, shift engineers, machine operators, pouring men and
workers. Production department also aims at maintaining the quality of products
been produced. Every employee is expected to take responsibility for managing
quality issues in order to make sure that waste is minimized and quality maximized.
Quality checking and assurance is carried out every day on a number of occasions
to ensure that the production process is working efficiently and effectively.
We use different machines to produce footwear’s. The company purchases footwear
moulds from Taiwan, China, and Italy. This will help the company to assure high
quality finished product.
Most of our machines are imported from abroad. It includes high EVA Injection
Moulding Machine, Blender Machine, PVC Mixer, Cooling unit, Compressors, PVC
Injection Moulding Machine, Generator, Clicker and Stitching Machine
M/s. Veekesy Polymers Pvt. Ltd has succeeded in withstanding stiff competition
from the parallel manufactures because of the superior quality of their products at
reasonable price.
Other than production and quality checking, production department performs one
more function. That is packing of finished products into cartons. A set of workers
are assigned to pack finished products into specified cartons or boxes according to
their name and size. Before packing quality is again being checked by the workers.
After packing all these cartons are sent to stock room for storing so that it can be
sent to dealers directly according to the order placed.
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CHAPTER - 5FUNCTIONAL ANALYSIS OF DIFFERENT DEPARTMENTS
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FUNCTIONAL ANALYSIS OF DIFFERENT DEPARTMENTS
VKC GROUP DIVISION-II
HUMAN RESOURCE DEPARTMENT
Human Resource Department of the organization caters to the need of both
employees and workers of the organization, resulting in a good relation between
employees and workers. The mission of the Department of Human Resources and
Management (DHRM) is to provide quality corporate governance and human
resource management systems; to perform with integrity, innovation, andresponsiveness, and deliver excellent customer service to the Commission, its
employees, elected and appointed officials and the communities served in the bi-
county region. The Department provides executive and operational leadership
through a set of best management practices, recommends policy, and establishes
administrative procedures, including internal controls for efficient and effective
operations. The Executive Director provides executive functions for the Commission
and also oversees the work of DHRM.
STRUCTURE OF HR DEPARTMENT
MANAGER
ASSISTANT MANAGER
EXECUTIVE
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FUNCTIONS OF HR DEPARTMENT
The human resource manager is vital to the successful operation of a business. Themanager performs such tasks as hiring, training and maintaining a healthy work
place environment.
HIRING: An HR Manager’s objective is to maintain adequate staffing levelsfor a business and to fill each position with the applicant who is most qualifiedto perform the job successfully .To do this an HR Manager may post jobopening, test applicants or schedule interviews and attend recruiting events.
ORIETATION/TRAINING: Orientation entails introducing a new hire to thecompany and its goals, history, policies, workers, culture and any otherinformation essential to function within the company. According to bureau oflabour statistics, training may entail class room instruction, electroniclearning, videos and other tools
INTERACTIONS: HR Manager Take employee complaints, media
conflicts, promote communication and in some cases, assist in negotiating
union contracts.
PERFORMANCE REVIEW/DISCIPLINE: Discussion with an employeeabout how he/she is doing relative to the standards and expectation laid outin the job description- according to the bureau of labour statistics.
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PRODUCTION DEPARTMENT
The main role of production is to turn inputs (raw materials) into outputs (finishedgoods). Outputs refer to a finished product or service and inputs are the materialsthat are needed to manufacture certain goods. When a business completes this
process they are able to achieve customer satisfaction by producing products that areready to be used and fit for purpose. The Production Department is responsible forensuring quality is achieved in each item produced. They will need to carry outinspections and implement suitable quality initiatives. This is one of the major dutiesof this Department because if mistakes are made on products, customer satisfactionwill be decreased or if products are ruined during the production process it meansthat the company will have to throw "bad" products away (creating waste). Bothaspects will lead the company to a loss of profit. Quality assurance will have to becarried out every day on a number of occasions to ensure that the production processis working efficiently and effectively.
The Production Department of VKC Group Division II comprises of wellexperienced staff members starting from functional head, Department head,coordinator, supervisors, shift engineers, machine operators, pouring men andworkers. Production Department also aims at maintaining the quality of products
been produced. Every employee is expected to take responsibility for managing
quality issues in order to make sure that waste is minimized and quality maximized.Quality checking and assurance is carried out every day on a number of occasionsto ensure that the production process is working efficiently and effectively.
The company uses different machines to produce footwear’s. The company purchases footwear moulds from China, and Italy. This will help the company toassure high quality finished product.
Most of the machines are imported from abroad. It includes high speed mixermachine, fully automatic air injection moulding machine, air drier & chiller, coolingtower, cementing machine, box strapping machine, clicker machine, generatorconveyor, stitching machine. It has succeeded in withstanding stiff competition fromthe parallel manufactures because of the superior quality of the products atreasonable price. Other than production and quality checking, ProductionDepartment performs one more function that is packing of finished products intocartons.
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A set of workers are assigned to pack finished products into cartons or boxes
according to their name and size .Before packing quality is again checked by the
workers. After packing all these cartons are sent to stock room for storing so that it
can be sent to dealers directly according to the order placed. Materials Department
of the organization place order according to need of material that’s used for production. Supervisor’s and production in charge gives details of materials needed
for production and accordingly materials are purchased by placing order through e-
mail.
STRUCTURE OF PRODUCTION DEPARTMENT
Production Head
ProductionExecutive
Machine
SupervisorUpper andinsole
Outsourcingsupervisor
Maintenance
SupervisorPackaging
Supervisor
MachineOperators
StoreKeepers
Assistant Assistant
Product mana er
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PRODUCTION TECHNOLOGY
VKC Group is producing high quality PU footwear from 100% virgin micro cellular
rubber. The company’s manufacturing facilities includes modern equipment and
machineries imported from Italy.
PRODUCTION PROCESS
Production Process
Raw Material MixingSynthetic Rexene
Cutting
Semi-Finished
Upper MaterialsSemi-FinishedInsole
Materials
Stitching Process Printing &
Embossing
Show Fitting, Riveting, Printing, Embossing
Stitching Process
Finished Footwear Upper
Injection Moulding Process
Semi-Finished Footwear
Quality Checking
Pasting Process
Heating ProcessPacking Process
Finished Footwear
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PACKING PROCESS
Trimming process
Conveyor system
Upper & Sole cleaning
Tag fitting
Packing in to small carton
Fixing Size & price sticker in small
carton
Packing in to master carton
Final check up in pairs, art no., price
& size
Box strapping
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MARKETING & SALES DEPARTMENT
Marketing and Sales Department carry out two separate functions nevertheless, theymust interact closely with each other, as both are essential parts for the marketingactivities in each company. Each company has the goal to fulfill customer needs andalso to match the company’s sales target followed by financial success.
After production process the products are being sold in the market according to theorders taken by Marketing Department. The Marketing Department studies themarket and the target customers, decides the best way to reach these customers, andworks with the rest of the company to help determine the new product needs of the
market. The firm does continuous market research, which helps the firm in planningand executing marketing strategies for the future course of action. It also helps inanalyzing the buyer habits, popularity of product, and effectiveness of advertisingmedia. It also helps to collect information about marketing problems andopportunities.
The company executives are directly taking the orders from the wholesalers. The
company has very good system for the supply of the products to the wholesalers.
The firm sent our products through parcel service to various dealers based on their
orders to respective places and doesn’t have connection with any retailers. The
product reaches the hand of customers through retailers, who gets it from
wholesalers.
The company manufactures products on the basis of demographic segmentation. As
a result, the firm produces products aiming youngsters, gents and ladies at affordable
price with high quality. The company produces footwear under the name VKC Le-
Style, Smartak, VKC Lite, VKC Style, VKC Walkaroo, VKC Junior, VKC Trendz,
Slipons and VKC Pride. VKC Le-Style is used for exporting to foreign countries.
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Manufactur
er
Wholesalers
Retailers
Consumers
ADVERTISING METHODS
The Company treats the advertising as the main mode of marketing to improve the
sales of the products. Ambassador of these products is Cine Actress Kajal Agarwal.
VKC Footwear’s advertising covers all activities connected with giving publicity
regarding goods and services offered for sale. The main Medias for advertising are:
Indoor Media & Outdoor Media.
Indoor Media includes TV Channels, Newspapers, Magazines, Catalogues,
Danglers, Calendars, & Stickers. Advertisements of the products are given in all the
major TV channels in Malayalam. Outdoor Media includes Name boards &Hoardings.
CHANNELS OF DISTRIBUTION
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SALES
Sale is the act of selling a product or service in return for money or other
compensation. Marketing and sales goes hand in hand. Sales promotion plays a
major role for the success of the VKC products. Sales promotion influences thecustomers for buying the products and also helps to meet competition and helps in
stimulating demands.
SALES PROMOTION TOOLS
Sales Promotion is carried out in two ways. Consumer’s promotion and dealer’s
promotion. Consumers promotion consists of providing coupons, contest that the
firm conduct and price offer for various products. For dealers the firm conduct salescontest, give gifts, and turnover allowance based on the amount products been
purchased from the firm. Company provides scheme called VKC Sammanotsavam
for dealers based on their purchase for that particular year.
The Company conducts the Wholesalers Meet at least once in a year. By this the
company provides an opportunity to the wholesalers to interact with the company
and between the dealers. This helps to find problems, sort out differences, and to
formulate plans for future improvement in the market.
The adequate production, supply, good quality, affordable price of the product, and
the various marketing techniques used by the company helps products to be a
superior one in the market that satisfies the customer.
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STRUCTURE OF MARKETING DEPARTMENT
Marketing Manager
Channel OfDistributionManager
SalesPromotionManager
AdvertisingManager
MarketResearchManager
AssistantManager
AssistantManager
AssistantManager
AssistantManager
SalesExecutive
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MANAGER
ASSISTANTMANAGER
EXECUTIVE
FINANCE DEPARTMENT
Accounting and Finance is the heart of a business. Its functioning efficiently directly
affects the rise and fall of a business. It is possible to survive, for a while at least,
without an effective marketing plan, poor human resource management and indeed
a poorly designed business strategy finance is a very essential to smooth running of
the business. No finance - no business. No business, whether big, medium or small
can be started without an adequate amount of finance. Right from the very beginning,
i.e. conceiving an idea to business, finance is needed to promote or establish the
business, acquire fixed assets, make investigations such as market surveys, etc.,
develop product, keep men and machine at work, encourages management to make
progress and create value. These Departments are crucial to the financial well-beingof a company and ensure that there is money for day-to-day operations and oversee
investments strategies for future growth. The Finance Department is also responsible
for management of the organization’s cash flow and ensuring there are enough funds
available to meet the day to day payments.
FINANCE DEPARTMENT STRUCTURE
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M/s.Veekesy Polymers PVT
The production department in charge is Mr. SREEKANTH S.P. There are 3 shifts per day and it
has a capacity of producing 16000 units per day.
PRODUCTION DEPARTMENT:
Production Process
EVA Compound Synthetic Leather
PVC Raw Material
Cutting
BlendingMixing
Injection Moulding Process
Injection Moulding Process
Stitching
Semi-Finished Footwear
Show fitting & RivetinFinishing
Finishing
PrintingQuality Checking
Assembling
Packing
Finished Footwear
Dispatch
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PACKING PROCESS
Trimming Process
Conveyor System
Upper & Sole Cleaning
Tag Fitting
Packing into Small Carton
Fixing Size & Price Sticker
in Small Carton
Packing into Master Carton
Final Check up in Pairs, Art
No., Size & Price
Box Strapping
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After production these products are being sold in the market according to the orders
taken by marketing department. The marketing department studies the market and
the target customers, decides the best way to reach these customers, and works withthe rest of the company to help determine the new product needs of the market. We
do continuous market research, which helps us in planning and executing marketing
strategies for the future course of action. It also helps us in analyzing the buyer
habits, popularity of product, and effectiveness of advertising media. It also helps to
collect information about marketing problems and opportunities
The company executives are directly taking the orders from the wholesalers. The
Company has very good system for the supply of the products to the wholesalers.
We sent our products through parcel service to various dealers based on their orders
to respective places and doesn’t have connection with any retailers. Our product
reaches the hand of customers through retailers, who gets it from wholesalers.
We manufacture products on the basis of demographic segmentation. As a result,
we produce products aiming kids, youngsters, gents and ladies at affordable price
with high quality. We produce footwear under the name VKC Lite and VKC Pride.
VKC Pride is used for exporting to foreign countries.
Slogan for VKC Pride is “Step into the World of Proud’ and for VKC Lite “Step into
the World of Ecstasy. The Company treats advertising as the main mode of
marketing to improve sales of our products. Ambassador of our product is CineActress Kajal Agarwal. VKC’s Advertising covers all activities connected with
giving publicity regarding goods and services offered for sale. The main Medias for
advertising are: Indoor Media & Outdoor Media
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Indoor Media includes TV Channels, Newspapers, Magazines, Catalogues,
Danglers, Calendars, & Stickers. Advertisement of the products are given in all the
major TV channels in Malayalam
Outdoor Media includes Name boards, A boards and Hoardings.
Marketing and sales goes hand in hand. Sales promotion plays a major role for the
success of the VKC products. Sales promotion influences the customers for buying
the products and also helps to meet competition and helps in stimulating demands.
Sales Promotion is carried out in two ways.
Consumer’s promotion and dealer promotion. Consumers promotion consists of
providing coupons, contest that we conduct and price offer for our various products.
For dealers we conduct sales contest, give gifts, and turnover allowance based on
the amount products been purchased from our firm. Company provides scheme
called VKC Sammanotsavam for dealers based on their purchase for that particular
year.
The Company conducts the Wholesalers Meet at least once in a year. By this the
company provides an opportunity to the wholesalers to interact with the company
and between the dealers. This helps to find problems, sort out differences, and to
formulate plans for future improvement in the market.
The adequate production, supply, good quality, affordable price of the product, and
the various marketing techniques used by the company helps products to be a
superior one in the market that satisfies the customer.
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Human resource department of the organization caters to the need of both employees
and workers of the organization, resulting in a good relation between employees and
workers. They are well satisfied with the attitude of the management towards them
and in the facilities provided to them. So there are no labour strikes, absenteeism and
attrition. The company provides excellent training programs for the employees to
improve the skills and productivity with in a lesser time. The employees are getting
the statutory benefits like Bonus, ESI scheme, Employees Provident Fund, Festival
Holiday Allowances from the company. They are often given awareness class related
to cleanliness, health and safety. Department heads also make visits to quarters were
workers are staying in order to ensure cleanliness in their surroundings. HR manager
in charge is Mr. Albin Mathew .HR department maintain a help desk in order to
redress grievance of the workers and answer to their queries. There are total of 240
workers in the organization.
Finance is life blood of every organization. It deals with procurement of funds and
their effective utilization in the business. Department has one department head, one
senior executive and four junior executive. Their functions mainly include checking
daily cash accounts, MIS preparation, bank reconciliation, central excise and export
related works, finalization of account statement etc.
M/s.Veekesy Polymers PVT. is financially stable and had got CRISIL A+ rating.
Materials department of the organization place order according to need of material
that’s used for production. Company follows EOQ system. Whenever they find that
it has reached reorder level or safety stock, order is placed.
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THE PRESENT BOARD OF DIRECTORS:
Mr. V. NOUSHAD (Director)
Mr. V. RAFEEQUE (Managing Director)
Mr. V. RAZAK (Director)
Mr. V. MAMMED KOYA (Director)
Mr. V. MUHAMMED KUTTY (Director)
Mr. V. MUHAMMED (Director)
Mr. M.GOPALAN (Director)
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ORGANISATIONAL CHART
CHAIRMAN
DIRECTORS
MANAGER
ASSISTANT MANAGER
PRODUCTIONFINANCE
DEPARTMENT HEADPRODUCTION HEAD
EXECUTIVE
SUPERVISOR
COORDINATOR
SKILLED WORKERS
UNSKILLED WORKERS
JUNIOR EXECUTIVE
SALES
DEPARTMENT HEAD
EXECUTIVE
JUNIOR EXECUTIVE
MATERIALS
DEPARTMENT HEAD
EXECUTIVE
JUNIOR EXECUTIVE
JUNIOR EXECUTIVE
EXECUTIVE
DEPARTMENT HEAD
PERSONNEL
MANAGING DIRECTOR
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CHAPTER - 6
SWOT ANALYSIS
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SWOT ANALYSIS
STRENGTH
VKC have good brand image in the world
Easy availability of raw materials and other inputs
Massive institutional support for technical services
Designing manpower development and marketing
Management is very stable that forms strong foundation of the company
Employees are provided with all necessary welfare activities
Economical pricing
Highly skilled employees
Well-equipped quality control Department for inspecting the quality of raw
materials and final products
Competitive advantage in cost of production
Wide distribution network
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WEAKNESSES
Not able to meet the market demand
Lack of proper utilization of R&D Department
Less export
Marketing strategies can be made more effective
OPPORTUNITIES
The company has the opportunity to expand its production units to meet
more demand for its products
The company has got better tool for better planning and decision making
At present company has got good raw materials source to enhance
production
Should tap the foreign market more vigorously
THREATS
Competition from others like Odyssia, Paragon
Technology advancement at a faster price
Inflation
Fluctuations in exchange market
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CHAPTER - 7
RESEARCH METHODOLOGY
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RESEARCH METHODOLOGY
Introduction
Research methodology is a way to systematically solve the research problem. It may
be understood as a science of studying how research is done scientifically. In it we
study the various steps that are generally adopted by a researcher in studying his
research problem along with the logic behind them.
Research methodology has many dimensions and research methods do constitute a
part of the research methodology. The scope of research methodology is wider than
that of research methods. Thus, when we talk of research methodology we not only
talk of the research methods but also consider the logic behind the methods we use
in the context of our research study and explain why we are using a particular method
or technique and why we are not using others so that research results are capable of
being evaluated either by the res