Summer Internship project report
Effectiveness of Training and Development
Elecon Engineering pvt ltd
Sardar Patel College of Administration and Management
Under the Guidance of
In partial Fulfilment of the Requirement of the aware of the degree of
Master of Business Administration (MBA)
Gujarat Technological University
Vinita A Patel
MBA (Semester – III)
The MBA program is well structured and integrated course of business studies. As per The MBA program at SARDAR PATEL COLLEGE OF ADMINISTRATION students are required to undertake a summer internship in a company for 6 Weeks as a practical fulfilment of the course and that's why I got an opportunity to work with ELECON ENGINEERING COMPANY. Industrial training helps to gain real life knowledge about the industrial environment and Business practices. The MBA programmer provides student with a fundamental knowledge of Business and organizational functions and activities, as well as an exposure to strategic Thinking of management. During this whole training I got a lot of experience and came to know about the management Practices in real that how it differs from those of theoretical knowledge and the practically in The real life. This training has certainly helped me in increasing my knowledge in the subject of human resource management.
We wish to express our sincere gratitude to Mrs/Miss Nirali Trivedi, Sr. manager corporate HR for providing me an opportunity to do my internship in “ELECON ENGINEERING COMPANY LIMITED”.
We are grateful to Mr. Manoj Sindha for providing us opportunity to carry out a training program in ELECON EPC and for taking keen interest in our training and for his invaluable guidance. We are also so grateful to Mr. Hitesh Padhghar for his training and guidance and sharing such great knowledge with us.
We also take opportunity to thank the management of Elecon MHE division for giving us an opportunity to undertaken training in one of the most modern plants in India. In addition, we are thankful to all the staff members who are directly or indirectly help us in our training.
I hereby declare that the Summer Internship Project Report titled “ Training and Development “ in (Elecong Engineering Pvt Ltd) is a result of my own and my indebtedness to other work publications, references, if any , understand have been duly acknowledged. If I am found guilty of copying from any other report or published information and showing as my original work, or extending plagiarism limit, I understand that I shall be liable and punishable by the university, which may include ‘fail' in examination or any other punishment that university may decide.
Vinita A Patel
Training and development play an important role in the effectiveness of organizations and to the experiences of people in work. Training has implications for productivity, health and safety at work and personal development. All organization's employing people need to train and develop their staff. Most organizations are cognizant of this requirement and invest effort and other resources in training and development. Such investment can take the form of employing specialist training and development staff and paying salaries to staff undergoing training and development. Investment in training and development entails obtaining and maintaining space and equipment. It also means that operational personnel, employed in the organization's main business functions, such as production, maintenance, sales, marketing and management support, must also direct their attention and effort from time to time towards supporting training development and delivery. This means they are required to give less attention to activities that are obviously more productive in terms of the organization's main business. However, investment in training and development is generally regarded as good management practice to maintain appropriate expertise now and in the future.
Aims and objectives
• Relate concepts and principles from the psychology of training and development to real occupational issues in order to make a constructive contribution to organizations..
• Recognize the psychological assumptions made in making training and development decisions and to manage these assumptions appropriately.
• Appreciate the contextual factors of real organizations and work situations that affect decisions concerning the application of training and development concepts.
• Provide a basis for making useful training interventions within organizations and evaluating such interventions. In doing these things, this learning material aims to enable students to develop appropriate understanding of using occupational psychology within organizations with respect to issues of training and development.
ϖ TABLE OF CONTENT:-
About the company
Overview of the company
Overview of the functional department of the company
3.1 Production Department
3.2 Marketing Department
3.3 Human Resource Department
3.4 Finance department
Introduction of the topic
Induction of the Study
5.1 Literature Review
5.2 Problem Statement
5.3 Rationale of the Study
5.4 Objective of the Study
7.1 Research Design
7.2 Source of Data
7.3 Data collection Method
7.5 Sampling Method
7.6 Data collection Instrument
7.7 Limitation of the study
Data analysis and Interpretation
Result & Findings
Conclusion & Suggestion
ABOUT THE COMPANY
Established in 1951, Elecon Engineering Co. Ltd, India, pioneered breakthrough innovations in the manufacture of material handling equipment, industrial Geared Motors (Products of PBL) and reducers, mining equipment, casting processes etc. Elecon is one of the largest manufacturers of MHE and Industrial gears in Asia. Elecon‟s recent acquisition of Benzlers –Radicon Group of businesses from David Brown Gear Systems Group adds to the expertise in manufacturing customized gearboxes for Steel Mills, High speed Turbines, satellites for Indian Space Research Program and Naval aircraft carriers. During the span of 6 decades, Elecon has encompassed all the major core sectors through its supplies of highly sophisticated equipment bearing ample testimony of the symbolic mark of Elecon‟s unbeatable technology. Elecon has thus with its marketing network and execution capabilities, made its presence felt through consistent and satisfactory performance of its equipment and successful delivery of projects in core sectors as fertilizer, cement, coal, power generation, mining, chemical, steel, port mechanization, minerals & metals processing, etc. .Elecon has expanded its skills and expertise to execute EPC contracts and has successfully executed several EPC projects in India. Elecon has transformed into a fully integrated EPC company in areas of its specialization.
Elecon Engineering was established in 1951 in Goregaon, Mumbai by Ishwarbhai B. Patel. The company's early focus was on Engineering, Procurement and Construction projects in India. It initially manufactured custom manufacturing conveyor systems. The company was registered as a Private Limited company on 11 January 1960. In May 1960, the company moved to its current location in Vallabh Vidyanagar, Gujarat. Later, the company was listed on the Bombay Stock Exchange and the National Stock Exchange. In 1976, the company established its Gear Systems Division, specializing in power transmission equipment. It designs and manufactures worm drives, helical gears, spiral bevel gears as well as a range of couplings. Its products target a range of industries, including steel rolling mills, wind turbines, marine applications and space applications. In 1995, Elecon established its Alternate Energy Division, for the design and manufacture of wind turbines. In October 2010, Elecon acquired the Benzlers-Radicon Group, the power transmission division of UK-based David Brown Ltd
¬ Elecon has today a wide spectrum of products like
• Belt Conveyors
• Pusher Cars
• Barrel type Blender Reclaimers
• Ship Loaders and Unloaders
• Wagon Tipplers and Side Arm Chargers
• Bridge type Bucket wheel Reclaimers
• Crawwler mounted Bucket wheel Excavators
• A range of all type of Bulk Material Handling Equipment's.
¬ Company profile
Name of company
Elecon Engineering company limited
Form of company
Board of directors
Shri Prayasvin B. Patel
Shri Hasmukhlal S. Parikh
Shri Pradip M Patel
Shri Chirayu R Amin
Shri Prashant Amin
Shri Jal R Patel
Shri Jai S Diwanji
Chairman & M.D
Shri Pryasvin B. Patel
Chief Financial Officer
Shri Rajat Jain
Shri Paresh M Shukla
Thacker Bhutala Desai
Charter Accountant, Navsari
ISO 9001 : 1994
ISO 9001 : 2008
State Bank of India
Bank of Baroda
Axis Bank Limited
HDFC Bank Limited
IDBI Bank Limited
Standard Chartered Bank
Anand Sojotra Road
Vallabh Vidhyanagar, 388120
Mumbai, Delhi, Kolkata, ChennaiBangalore, Ahmedabad, Nagpur, Pune, Nagpur,Jamshedpur, Bilaspur, Dhanbad
International Branch Offices
Dubai, South Africa, China,
Alternate Energy Division
Power Build Ltd.
EMTICI Eng. Ltd.
Ringspann Elecon (India) Ltd.
Prayas Eng. Ltd.
Elecon Information Technology ltd.
Vijay Mistry Construction
Listing of Stock Exchange
Bombay Stock Exchange Limited, Mumbai
National Stock Exchange of India Limited,
Bombay Stock Exchange Limited, Mumbai
(Physical Segment) : BSE 5700
Bombay Stock Exchange Limited, Mumbai
(Demat Segment) : BSE 505700
National Stock Exchange of India Limited,
(Demat Segment) : ELECON
GEAR DIVISION:[email protected]
MHE division:+91- 2692-237016/17
ϖ Major Clients :
A) Power Station at:-
- Uttar Pradesh (up)
B) Coal Plants:-
- Bharat cooking cool limited
- Southern cooking coal limited,
- Neyveli lignite kilns
C) Cement Plants:-
- ambuja cements
- chottor cements
- rashi cements
- zouri cements
- satha cements
D) Fertilizer Plants:-
- Chambal fertilizers,
- Indogulf fertilizers
E) Export Order:-
- Coal hardening plants in Thailand
- Fertilizers plants in Bangladesh
- TICB in Malaysia
- PRODUCTION SYSTEM
¬ Vision :
Create global presence in power transmission by innovating and developing products to enhance value and satisfaction of our customers.
We adopt to the changes and meet the challenges by creation entrepreneurship, empowered teamwork, continues improvements, environment friendly practice and optimize profits to delight our stakeholders.
¬ Mission :
¬ STAGES OF DEVELOPMENT
HIGHLIGHTS OF RESTRUCTURING OF ELECON COMPANY
During 2012, the company restructured its operations by transferring EECL‟s MHE business into its Aakaaish Projects Ltd., a wholly owned subsidiary of EECL. Aakaaish Projects was later renamed Elecon EPC Projects Ltd. The sale was for a consideration of Rs127cr.Additionally, the MHE businesses of its other group companies, Prayas Engineering Ltd and EMTICI Engineering Ltd were transferred to Elecon EPC Projects in return for issuance of shares in following ratio.
¬ 14 shares of Aakaaish for 143 shares of Prayas Engineering (Promoter).
¬ 3 shares of Aakaaish for 19 shares of EMTICI Engineering (Promoter).
Post the scheme of arrangement, Elecon EPC Projects became a 60.48% subsidiary with
The balance share held by the Promoters. The second leg of the restructuring involved transfer of the GEAR business of its group companies Prayas and EMTICI to EECL by the latter allotting shares in the following ratio.
¬ 49 shares of EECL (FV Rs.2/-) for 4 shares of Prayas Engineering (Promoter).
¬ 39 shares of EECL (FV Rs.2/-) for 4 shares of EMTICI Engineering (Promoter).
EECL allotted 1, 60, 74,333 equity shares to the Shareholders of these two group companies, thereby increasing it's paid up share capital to 10, 89, 35,843 equity shares of Rs.2 each. As result, the shareholding of the promoter group increased from 46% to 58%.
1. EMTICI ENGINEERING LIMITED
Emtici Engineering Ltd. is the marketing and servicing company for promoting and
Marketing products manufactured by their principals M/s Elecon Engg. Co. Ltd., M/s EIMCO Elecon (India) Ltd., M/s Power Build Ltd., M/s Prayas Engineering Ltd.
When era of industrial development began in post-independence, emphasizing upon the
growth of the industries viz. Sugar Mills, Cement Factories, Late Shri Ishwarbhai Patel, the father of Shri Bhanubhai Patel, Chairman and Managing Director of Elecon Engg. Co. Ltd. Started the business of supplying various Machines and their parts to these Industries in the name of “Milling Trading”.
Milling Trading Co. Pvt. Ltd. was formed in the year 1956 to take over the business of
Importing and trading machinery and spares within India. It continued to be the marketing organization having branches all over India employing sales and service personnel for promoting / marketing of products manufactured by their Principals which include Material Handling Division and Gear Division of Elecon Engineering Co. Ltd., Eimco Elecon (India) Ltd. as well as Power Build Ltd. It also represented the PWH Materials Handling Limited for marketing their products and projects.
Milling Trading Co. Pvt. Ltd. is functioning as a marketing organization with the full
Infrastructure including branches all over India. The name of the company was subsequently changed to Emtici Engg Lt
2. EIMCO ELECON
Eimco Elecon (I) Ltd. was incorporated in the year 1974 and was promoted by Environtech Corporation, USA, Elecon Engineering Co. Ltd. Vallabh Vidyanagar and its Chairman &Managing Director Shri B.I. Patel
Eimco Group of Companies Subsidiaries of Environment. USA are the world leader in
Production of underground mining machinery having plants in U.K., USA, Canada, France and Australia. EEIL and Eimco Group of Companies entered into collaboration under which EEIL received necessary technical know-how from Eimco Group of Companies for production of underground mining machineries.
In 1989, Eimco Group of companies were acquired by Tam rock OY. A world leader in
technology and manufacturing of rock excavation and breaking equipment for surface and underground mines and civil engineering construction with production and assembly facilities in various parts of the world backed by worldwide sales and distribution network.
3. POWER BUILD PVT LTD
With a humble beginning in 1972 as one of the Elecon group companies, Power Build
Limited, ventured into production of Geared Motors and Gearboxes in technical collaboration with M/s. Rudolf Muchna KG of then West Germany. Since then the company progressively forged ahead by addition of sophisticated state of the art products including:
1. Automatic weighing and Bag Filling Machines.
2. Electronic Belt weighers and weigh feeders
3. Metal Detectors
4. Inline Magnetic separators and suspension magnets with latest technology.
5. Electric Hoist using the latest techniques of conical rotor design motors
6. Automatic Wagon & Truck loaders
7. Beltway switches and pull cord switches used for conveyors.
Unsurpassed quality of the product is the company's prime motto and the factory is equipped with modern CNC machineries ensuring high quality products. PBL has executed a large number of orders in core sector industries like Fertilizers, Cement, Coal, Power Generation, Chemicals, Steel Plants, etc.
4. ELECON INFORMATION TECHNOLOGY LTD
Elecon Information Technology Ltd (EITL) draws on the company's vast and varied
Experience of more than 13 years in the field of hardware, software and networking solutions. The company's mission is to provide comprehensive software and hardware solutions and satisfy customers business and management needs.
5. BENZLERS RADICON
Elecon acquired Benzlers and Radicon in October 2010 from the Uk based engineering
Company David Brown. The acquisition will play a major part in Elecon strengthening its Product development and engineering capabilities while widening its customer base in
Europe, North America and Scandinavia. The powerful brand names of the two companies' in addition to the strong engineering reputation, global presence and comprehensive product portfolio position the business exceptionally well as a platform for sustainable future growth.
Benzlers and Radicon have over 60 years of experience and have a reputation for being
market leaders in the design and manufacture of screw jacks, shaft mounted gearboxes and industrial reducers. The company comprises of 4 business units: UK based Radicon; Sweden& Europe based Benzlers and Thailand based Radicon.
Both Benzlers and Radicon sell product across the world and are differentiated from the
Competition through an engineered solutions led approach and high levels of customer
• Industrial Reducers
• Geared Motors
• Screw Jacks
• Geared Pumps
• Worm Gears
ϖ CORPORATE SOCIAL RESPONSIBILITY
CSR is the continuing commitment by ELECON to contribute towards the economic
Development while improving the quality of life of its people, customers as well as the
Community and society at large.
¬ EL CARE and ELF
Rigorous efforts are continued through its social Pillars via, EL CARE and ELF (Elecon
Ladies Forum). The pillar constantly contributes to cultivate, nourish and nurture the health of people by organizing Blood Donation Camps, Eye Checkup and Eye Donation. It also extends support to Orphanage homes, Old Age Homes, for Higher Education and Health Care Support to the deserving people.
¬ CHARUTAR VIDHYAMANDAL
The company has extended its hands generously to Charutar Vidhyamandal (CVM) for
Establishment of Women's Engineering College under the name of Madhuben &BahubhaiPatel Women Institute of Engineering for studies % Research in Computer & communication Technology (MBICT) at new Vallabh Vidhyanagar.
¬ BHANUBHAI & MADHUBEN PATEL CARDIAC CENTRE
Bhanubhai & Madhuben Patel Cardiac Centre (BMPCC) is constructed and developed by
ELECON GROUP and managed by Charutar Arogya mandal at Shri Krishna Hospital.
Karamsad. The trust has performed over 701 surgeries, out of which 381 are pediatric and
320 are adult surgeries. The center provides the most efficient medical care at the affordable rates to underprivileged people of the society.
¬ ELECON PRODUCTS RANGE
Elecon is Asia's largest gear manufacturing company enjoying a significant presence in
India and abroad. Elecon‟s proven expertise in technology and innovation has enabled it
Successfully decipher the changing requirements of the industry and churn out
Technologically superior products from time to time. Apart from being the first to introduce modular design concept, case hardened and ground gear technology in India.
Elecon also has a proven track record in the design and manufacture of worm gears, parallel shaft and right angle shaft, helical and spiral bevel helical gears, fluid, geared & flexible couplings and planetary gear boxes. When it comes to special gears, Elecon is the supplier of choice to core sectors like Sugar, Cement, Chemical, Fertilizer, Steel, Plastic Extrusion and Rubber .Elecon also enjoys the rare distinction of begin the first Indian gear company to receive the coveted ISO 9001:2000 certification. With significant investments in manufacturing facilities, technology and innovation, Elecon promises a long-term alliance with all its customers in the long run. Today, Elecon boasts of state-of-the-art manufacturing facilities that include fully automated machining lines, comprehensive production capacity and a dedicated task force aptly supported with expedite after sales services.
¬ MATERIAL HANDLING EQUIPMENT
Elecon is India‟s largest material handling equipment. It broadly manufacture a quality rang of M.H.E like
• Loaders and unloaders,
• Wagon triples,
• Roller screen,
• Crusher etc.
Elecon has thus, made its presence felt through consistent and satisfactory performance of its products in all major core sectors such as fertilizer, cement, coal/power generation, chemical, steel plant etc. in national and international market.
The various material handling equipment's typical applications are the movement and storage of bulk materials.
All over the globe there are only few companies who provide all types of material handling equipment and ELECON Company is proud to be one amongst them.
¬ Some of the major clients:
• THYSSENKRUPP INDUSTRIES INDIA PVT LTD – PUNE
• L & T LTD – MUMBAI
• ANUPAM INDUSTRIES LTD – V.V.NAGAR
• MECHTECH ENGINEERS – VADODARA
• FOUREES ENGINEERS - BANGLORE
¬ GEAR DIVISION
Elecon set up separate Gear Division in the year 1976. Elecon is also known for its pioneering acts in India. The first to introduce modular design concept, case-hardened and ground gear technology in India.
It has supplied hi-tech equipments to major core sectors such as fertilizer plants, cement plants, coal and lignite mines, power plants, textile plastic, steel plants and port mechanization in India and abroad.
• GEAR PRODUCTS
1. SPECIAL GEAR
WORM PLANATORY GEAR BOX WORM EXTRUDER GEAR BOX
BOGGIE DRIVE UNIT TWO HIGH STAND ROLL ADJUSTMENT GEAR UNIT
TUBE DRAWING MILL GEAR UNIT HIGHER CENTER DISTANCE WORM GEAR UNIT
CONVEYOR TRACK DRIVE GEAR UNIT TUBE MILL WORM REDUCTION GEAR BOXE
TYPE – FSUO
2. HELICAL GEAR
EON SERIES EOS SERIES
ET SERIES DEMO ET SERIES
ELFLEX FLEXIBLE ELING GEAR
FLUID SCOOP FLUID
1. WIND MILL
SMALL & MEDIUM WIND TURBIN HIGH CAPACITY WIND
GEAR BOX TURBINE DRIVE GEAR BOX
ETM SERIES EH SERIES –EH 130
EH SERIES – EH 150G EH SERIES – EH 180K
REVERSE REDUCTION GEAR BOX REDUCTION GEAR BOX
CODOG MARINE GEAR BOX
4. HIGH SPEED
TURBO GEAR UNIT
¬ MORDERN INFRASTRUCTURE
• Elecon designs & manufacture wide range of worm, parallel shaft and right angle shaft helical and spiral bevel helical gears with horizontal and vertical output shafts in various sizes, form single to quadruple stage reduction. These gears are compact and light, saving space, reduction foundation structure costs and lubricating oil consumption.
• Elecon gear division is acknowledge as the most modern in the industry. All of elecon's machinery is computer controlled (CNC) ensuring high degree of precision on manufacture, design and quality testing of gear components to DIN/AGMA international specifications.
• Elecon has recently inaugurated ” BHANUBHAI MEMORIAL CENTRE OF EXCELLENCE (BMCE)” an ultra-modern, purpose-built factory for manufacturing standard helical and bevel-helical gears with a higher volume of production and greater accuracy.
Overview of the functional department
As we know the Industry embraces all types of Human efforts leading to the generation of human wants. Product gets generated through process of production. So first of all Raw materials is achieved and their conversion process takes place. So clear meaning which we get is, “Production is concerned with the conversion of raw material and other inputs into certain output required by consumers. This certain output is finished products.
Production Department handles the function of conversion of Raw material in to finished products. It consists of application of planning, organizing, staffing, directing and controlling functions in the process of converting the inputs to the desired outputs, efficiently and effectively.
In ELECON, the MHE division manufacture the Material Handling Equipment's, Gear Division manufactures high quality Gears, and Alternate Energy Division manufactures Wind Turbine Generators, used to produce electricity.
The production department is mainly classified in two centers.
¬ Service center: It supplies mainly CNC program required size of raw material Design of jigs & fixtures etc. For providing support to the profit centers.
¬ Profit center: The products are manufactured and dispatched to the site for
Erection by this center are closely related & depend on each other.
ϖ Production process:-
Manufacturing operation convent input like material, labor & capital into some tangible outputs production process is a process of producing goods & service by combining of utilizing the service of factor of production. Production process is continues which has been going on since the drawn of economic history of will continue till this world last.
Production process is a continuous process of activity which enables flow of the service & their use for satisfaction of human wants. Human needs are unlimited & go on multiplying & are recurring in nature. The nature of human race changes occurs in change in production. The process has different concept in traditional economics & modern economy.
In ELECON the production process consist of several stages like:
• Receiving production
• Making & machining billets & blanks.
• Making components
• Assembling unit
• Separate articles
The success of each step depends upon its organization & also on an uninterrupted supply of materials. The proper tools efficient maintain & accrete stock taking.
ϖ HUMAN RESOURSE DEPARTMENT:-
Human resource management is the key function of management. It is the most important part of the company. It there is no manpower in the unit who's going to do all the unit jobs? It is connected with the manpower of unit. The objective is to attain maximum individual development desirable working relationship between employees. It has to plan for recruitment
of staff its main function is human resources planning.
Human resource Department has the task of handling the human problems of an organization and it is devoted to acquiring, developing, utilizing and maintaining efficient workforce. The Department undertakes the functions of Recruitment, Selection etc. H.R. manager discuss the problems of employees, he is the advisor to the Top management and a counselor of employees. He undertakes the functions which are related to Human Relations.
Following are the functions performed by any HR department in an organization:-
• Position classification and grading
• Salary determination
• Performance appraisal review and processing
• Awards review and processing
• Personnel data entry and records maintenance
• Policy development
• Technical policy interpretation
• Health care insurance
• Life insurance
• Disability insurance
• Voluntary accidental death and dismemberment insurance
• Leave Transfer Program
• Tuition Assistance Plan
• Training opportunities
HR POLICIES AT ELECON:-
I. Leaves of absence policy
Two types of leaves are provided to employees. “Leaves with pay” and “Leaves without Pay”. 7 casual leaves, 15 sick leaves and 21 privilege leaves are given to employees. Among which sick leaves (limit 30 leaves) and privilege leaves (limit 90 leaves) are allowed to carry forward to next year but casual leaves are not carry forwarded to next year. If leave is taken for personal reason then will be considered under leave without pay.
II. Safety policy
• At ELECON to wear the personal protective equipment are compulsory for all the Employees on the workshop.
• All the employees and even visitor are requested to wear the helmet while driving.
• Regularly safety awareness programs are organized by their safety managers.
• All the employees are motivated to follow the safety measures.
III. Health policy
• The health check-up for all the ELECON employees is conducted annually at Shri Krishna Hospital.
• The health check-up for new recruited trainees and employees are also conducted.
Recruitment and selection process
Recruitment is the process of gathering a group of qualified applicants. It includes tasks like writing a job description and job postings, and going through the steps of posting it internally (e.g. bulletin boards, intranet, e-mail notification), externally (e.g. newspaper ads, temp agencies, internet), or both.
Selection is the process designed to determine the most qualified candidate from the group Of Applicants. It includes tasks like reviewing resumes, interviewing, work related testing, reference checks and the final employment offer.
ELECON is following the same process for recruitment and selection.
Mainly in ELECON recruitment is done by recruiting the persons who are friends or families of the employees who are working.
They are also conducting campus interviews at engineering colleges.
Selection process of ELECON contains following steps:
Shortlisting of candidates form received resumes.
Written test: ELECON carry out written aptitude test (50 marks) and technical test (20
Marks) of shortlisted candidates.
Personal interview: After written test, eligible candidates from the result of written test are
Called for personal interview by committee of Technical and HR personnel.
Training and Development
Providing employees with training and development opportunities not only contributes to the quality and effectiveness of your organization it also serves to motivate and retain employees.
Professional development should address both organizational needs (the competencies required to achieve organizational goals and objectives) and individual needs (the competencies employees require to do their job), and reflect the organization's overall philosophy on learning.
• Job specific training - training and development that increases employee skills and
Abilities to meet the requirements of the current position. The employees are given training for the ERP system and for MS Office to meet the work requirement.
• Career development - training and development that build employee competencies to prepare them for future positions.
Training for the courses which are useful to the related working departments are given the employees.
Formal training includes professional development programs, such as:
¬ Classroom training
¬ Online training
¬ Conferences and seminars
A formal performance appraisal should be conducted at the end of the performance management cycle. The performance appraisal should be conducted in a one-on-one meeting with opportunity for discussion regarding performance achievement. The performance appraisal should be documented and kept in the employee file.
ELECON is conducting annual conference of marketing dept. and awards are given on the basis of their achievements.
ELECON is awarding the employees for their best performances and the employees Completing long year service (at 25, 30, 35 years of service) on the day of Dusherra Celebrating as ELECON Day.
ϖ Salary Bonus and Increments
¬ Salary of the employees at ELECON is paid on the basis of the qualification, years of experience and performance at work.
¬ Salary for apprentice: Diploma engg. 8000/month Graduate engg. 12000/month
¬ On completion of apprentice if they are confirmed then the salary for junior engg. Will be 2, 50,000 per annum and for senior engg. It will be 4, 00,000.
¬ Then on the basis of their performances promotions and bonuses are given at intervals with rise in salary.
¬ And also giving the farewell ceremony to the employees who are retiring.
The Marketing Department is the key to good marketing and sales. It promotes and establishes a business in its niche, based on the products or services the business is offering. It identifies the areas in which the product fits and where the business should focus its marketing strategy and, therefore, spend its budget for the maximum coverage and results.
The marketing department helps a business to do the following:
• Build relationship with the audience
• Involve the customer
• Generate income
Following marketing activities are conducted by Elecon company:-
¬ Sales Promotion
Following are the Sales promotion strategies adopted by ELECON:
• Provides Discounts.
• Provides guarantee of 12 months from the date of manufacture of Equipment.
• Provides after sales product services.
• Provides Gift articles.
ELECO Undertakes the following creating the awareness:
• Ads in Newspapers, Journals, Periodicals, and Magazines are given.
• Press Advertising is done.
• Video Films are shown to the clients with an aim to persuade them to go for their products.
• Trade fairs / Exhibitions are arranged.
• Direct Advertisements are done. Where Message is directly given to Industrial users by Mail. Where in Mail is attached with the catalogues.
¬ ELECON Products Marketing:
EMTICI Engineering Ltd. is marketing and servicing company appointed for ELECON products in India.
All branches are equipped with exclusively trained application and after sales Service engineers, who are keen to serve their clients and challenge any problem in power Transmission.
In view of a widely spread customer base across the country, company have more than 90dealers and 30 resident engineers looking into daily requirements of clients.
1. New delhi
Office which outside of the country:
1. Elecon Singapore
2. South Africa
Finance is usually referred as cash. It is an integral part of life. Every Business small, medium, large needs finance. Finance should flow in business; otherwise the business will be ruined. Finance is required for Raw material, Labor, and Operational, & Administrative needs of Business. Finance is the circulatory system of the Economic Body of firm.
Finance is the life line of any business. Without finance the business cannot run smoothly. Finance is needed at all level. The finance department should carried by an experience person become if any mistake occurred it may loss to company. It plays an important role in the life time of business.
Finance Department in general is concerned with the efficient use of an important Economic resource namely, Capital Funds. It keeps information of financial position of business and also informs when finance is in deficit and when to rise, from which source.
Board of directors
Account and finance department
AIE (AIC) AIE (FINANCE)
Book keeping Payment Cash Bank
Finance department at Elecon conducts activities like fund raising, foreign risk management preparing budgets, allocating fund to all the departments according to budget and their requirements, sensitivity analysis and various other activities.
During the year ended on March 31, 2015, the Company has achieved a Turnover of 50,319.24 Lacks as against 50,123.19 lacks in the previous year, representing a marginal increase in Turnover by 0.40%For the year ended on March 31, 2015, the Company has achieved Earnings Before Interest (Finance Cost), Depreciation & Amortization and Tax (EBIDTA) of 10,650.35 lacks as against the EBIDTA of 10,006.97Lacs during the previous year, representing increase in EBIDTA by 6.43%.
GENERAL SHAREHOLDERS INFORMATION
• Financial Calendar
April 01 to March 31
• Date of Book Closure
1st July, 2012 to 7th July, 2012 [Both days Inclusive]
• Dividend Payment date on or before 4th August, 2012.
• Listing on Stock Exchange National Stock Exchange of India Limited
• Bombay Stock Exchange Limited
ϖ SOURCES OF SHORT-TERM FINANCE AT ELECON
I. SPONTANEOUS SOURCES OF FINANCE
¬ Trade credit
¬ Advance from customers
II. BANK FINANCE
¬ Cash credit
¬ Short term secured loan from banks
¬ Short term unsecured loan from banks
¬ Letter of credit
¬ Working capital demand loan
¬ Export packing credit
III. Finance from Others
ELECON HAS OBTAINED FINANCE FROM
¬ State Bank of India
¬ Bank of Baroda
¬ State bank of Saurashtra
¬ AXIS bank
These banks provides following facilities to Elecon
¬ Cash credit
¬ PCFC & WCTL
¬ Working capital demand loan (WCDL)
¬ Inland bills discounting under LC
¬ Letter of credit
¬ Bank guarantees
¬ Short term loan
¬ Term loan
ϖ Introduction of training
The process of introduction the knowledge and skill of the workforce to enable them to perform their jobs effectively.
Training is, therefore a process whereby an individual acquires job-related skill and knowledge.
Training costs can be significant in any business. However, many employers are prepared to incur these costs because they expect their business to benefit from employees development and progress.
Training takes place at various point and places in a business. Commonly training is required to.
• Support new employees
• Improve productivity
• Increase higher standard of customer service and production quality
• Introduction of new technology, systems or other change
• Address changes in legislation
• Support employs progression and promotion
ϖ Effective training has the potential to provide a range of benefits for a business:
• Higher quality
• Better productivity
• Improved motivation – through greater empowerment
• More flexibility through better skills
• Better recruitment and employee retention
• Easier to implement change in the business
ϖ Effective training starts with a “Training strategy”. The three stages of a training strategy are:
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