SUMMER INTERNSHIP REPORT

Conducted at

PARM ENGINEERS
on topic “Working of Finance Department” under

FINANCE DEPARTMENT

Submitted to
Deenbandhu Chhotu Ram University of Science and Technology, Murthal
in the partial fulfilment of requirements for the award
of degree of Master of Business Administration
[2021-2023]
Submitted by
Ansh Khurana
21001532009

DEPARRTMENT OF MANAGEMENT STUDIES

DEENBANDHU CHHOTU RAM UNIVERSITY OF SCIENCE AND

TECHNOLOGY MURTHAL (SONEPAT)

[1]
 CERTIFICATE OF TRAINING
This is to certify that Mr. Ansh Khurana Student of M.B.A. at ‘Deenbandhu Chhotu Ram University of
Science and Technology’ has completed his training at the ‘Finance Department’ of our company. His
training duration was ‘Aug 5, 2022 to Sep 8, 2022’. He is a sharp and best team member.

His performance during training was wonderful and has been awarded Performance A+.

This certificate is being issued to meet the requirement of the College/University Only.

FOR PARM ENGINEERS

Date 08.08.2022 Auth.

Sign.

[2]
[3]
 DECLARATION

I, Ansh and my roll no. 21001532009, student of “DEENBANDHU CHHOTU RAM UNIVERSITY OF
SCIENCE AND TECHNOLOGY” , Sonipat, hereby declare that the Project Report entitled “Working of
Marketing Department” is an original as all the information, facts and figures in this report is based on my
own experience and study during my training procedures.

Signature of Student

(Ansh Khurana)

[4]
 ACKNOWLEDGEMENT

I'd like to convey my heartfelt gratitude to everyone including my teachers and peers who made it possible
for me to finish this report. Dr. S.N. Mahapatra, our final year project mentor, deserves special thanks for
his interesting suggestions and support in helping me plan my project, particularly for drafting this report.

Furthermore I would also like to acknowledge the crucial and supporting role of the staff of
M/s PARM ENGINEERS, who allowed me to use all the required data and necessary information to
complete this research. Special thanks to the owner of Parm Engineers, Mr. Paramod Kumar, who helped
me to gain insights about several aspects of the organisation and gave important suggestion about the
project. Lastly, many thanks to head of the project, Dr. S.N. Mahapatra, who invested his full effort in
guidance and mentorship. I must express my gratitude to the other supervisors as well as PHD Scholars for
their support, particularly in my project presentation, which has enhanced my understanding and the report
as a result of their comments and recommendations.

Furthermore, I'd like to offer my gratitude and appreciation to industry professionals including Designers,
Engineers and Office Staff for their time and attention. Lastly, I would like to thank and appreciate my
Supervisors and colleagues in developing the project and people who willingly helped me out with their
time, abilities and recommendations.

Signature of Student

(Ansh Khurana)

[5]
 EXECUTIVE SUMMARY

Finance is an important part of every organisation and is essential for any successful business. In a modern
organisation, the Finance Department has a wide range of duties to fulfil both within and outside of the
organisation. The management of Finance Department in every organisation has a significant impact on its
overall performance and success. Maintaining a careful watch and control over the Finance department is
critical for the proper running of any organisation.

The main objective of the study was to study about the working of Finance department of Parm Engineers
a relatively new player in Industrial Electrical Automation. The project includes the mission and objectives
of the company along with its performance and the product line. The report includes the functions of the
Marketing department, its structure and working. The report will first give you a brief about Parm
Engineers, i.e. the company itself, then we will get to know about the aims, mission and vision of the
company along with the policies and procedures followed and used in consistency since a very long period
of time, then we will see the organisation structure i.e. the departments and their duties and responsibilities
along with the methodologies, then we will get a brief description about the Marketing department,
working of Marketing department of Parm Engineers along with the layout of the company in two stages
i.e. the first floor and ground floor..

You will also get information on procedures followed; the report includes each and every step involved, as
well as the information and details required. After this you will come to know about use of electronic data
in decision making at Parm Engineers. Besides this you will be able to understand how I gathered facts and
then analysed & interpreted the collected data. I hope that you will find this report interesting & will be
helpful in conducting further studies on the electrical automation sector.

[6]
 TABLE OF CONTENTS

S. No. Particulars Page No.

1. INTERNSHIP CERTIFICATE II

2. DECLARATION III

3. ACKNOWLEDGEMENT IV

4. EXECUTIVE SUMMARY V

5. CHAPTER – 1 AIM AND ESTABLISHMENT OF ORGANISATION 1-9

6. CHAPTER – 2 POLICIES OF THE COMPANY 10-14

7. CHAPTER – 3 ORGANISATION STRUCTURE OF THE COMPANY 15-20

8. CHAPTER – 4 OBJECTIVES OF STUDY AND METHODOLOGIES 21-33

CHAPTER – 5 DESCRIPTION OF DEPARTMENT WORKED IN

9. 34-55
AND LAYOUT OF THE COMPANY

10. CHAPTER – 6 REVIEW OF EXPERIENCE 56-59

11. CHAPTER – 7 CONCLUSIONS AND RECOMMENDATIONS 60-64

12. BIBLIOGRAPHY 65

13. ANNEXURE 65-68

[7]
 CHAPTER – 1

AIM AND ESTABLISHMENT

OF THE ORGANISATION

[8]
 PARM ENGINEERS

M/s PARM ENGINEERS is an ISO 9001:2015 certified company engaged in the trading,
manufacturing and servicing of High Tension Panels, Low Tension Panels, Capacitor Panels, PLC Panels,
High Quality Manufacturing and Processing Machines, Inductive Sensors, Photo-Electric Sensors, Fibre
Optic Sensors, AC Drives and HMIs. It also offers Servicing and Repairing of Pre-Installed panels all
across India. They provide high quality assembled panels as per the precise requirements of respected
customers. The Make of the panel accessories include L&T, Schneider, Siemens, ABB, Eaton and
C&S.M/s Parm Engineers also provide complete training course to interested students providing precise
and paractical knowledge to its students. Its state-of the-art facility is located at Bayanpur, Rohtak Road,
Sonepat.

It was established in 2004; they are among the leading and respected manufactures and traders of HT and
LT Panels and provide complete servicing facilities of associated products. The success and popularity of
its products is attributed to our ability to deliver not only high quality products, but also excellent customer
service. Additionally, it’s in-house tool room and research & development.

Its entire product range is available for Electrical Control, Maintaining Power Factor, Providing safe and
accurate electrical layout, Machinery for Production Line, Machinery for Processing Line in both, domestic
and international markets. They also provide complete automation services for fulfilling the emerging
automotive needs of modern Indian Industries. M/s Parm Engineers provide high quality services and
hence enjoys a greater goodwill in the highly competitive market.

PHILOSOPHY

The management of Parm Engineers works on the firm philosophy that customer satisfaction is paramount

to ensure their long-term relationship. Parm Engineer's entire activity, therefore, revolves around customer

satisfaction.

[9]
It offers employment opportunities in a wide range of operations which require specific knowledge and

skill-set. The recruitment process at Parm Engineers is clear and involving, with good opportunities to hire

suitable candidates for further training.

PRESENCE/POSITION OF THE COMPANY IN THE RUBBER INDUSTRY

Parm Engineers has an experience of over 17 years serving their products. Moreover owner at M/s Parm
Engineers Mr. Parmod Kumar has been working in the foresaid field for the past 35Years. With improving
the production capacity on regular basis to facilitate its growth, it is World class product and service
provider of Electrical Panels, Machinery and products for different industries both for OEM and end users
globally. Parm Engineers is and authorised channel partner for number of reputed brands such as Yudian,
Delta, ATC, Sunshine. They Procure their Products from Sonepat, Delhi, Gurugram, Faridabad, Ludhiana,
Karnal and Panipat.

PRODUCTION FACILITY AND CAPACITY

Parm Engineers owns a complete range of fabrication and processing machines. They Manufacture their
own Panel Enclosures with the help of Sheet Metal Embossing Machine and have a complete 7 Stage
process for powder coating which includes Degreasing, Water Rinse, De-rusting, Activation, Phosphating,
again water rinse and Passivation the enclosures, and adheres to the most stringent safety standards.

PRODUCT RANGE

 HIGH TENSION CONTROL PANELS:

Figure 1: HT PANEL

[10]
 The HT Panel is a metal box equipped with high tension Circuit Breakers, relays, and metering
that is used to take 11KV/33KV power from one or more sources and distribute it via its
outgoing feeders. Depending on the load and needs of the structure, there may be one or many
incoming feeders.
To receive and distribute the Ht Supply, HT Panels are put in Sub-Stations of Commercial
Complexes, Residential Colonies, industries, Schools, and Hospitals, among other places. One
of its primary purposes is to create and destroy HT supplies.
1. To make and distribute high tension supply
2. To obtain and send forth HT Supply
3. To offer security against flaws
4. To offer metering to track different factors.

 LOW TENSION CONTROL PANELS:

Figure 2: LT PANEL

Low Tension Panels, also known as LT Panels, distribute the primary power supply to various
electrical devices and distribution boards after receiving it from the transformer or the generator.
They are utilised for centrally located mains supply control and monitoring using protective
switchgears. Depending on the user's needs, LT Panels can be used in a variety of ways. Parm
Engineers works to satisfy the varied demands of LT Control Panel with the aid of a skilled team
under the capable direction of well-educated experts with extensive experience in Control Panel
Fields. LT Control Panels come in a variety of configurations to suit the needs of the clients. Before
being supplied to the customers, these panels undergo a rigorous inspection and quality checks.

[11]
  CAPACITOR PANEL:

Figure 3: CAPACITOR PANEL

Power factor can be increased by using capacitor panels. The majority of the electric load is reactive, which
leads to a low power factor. Electricity distribution companies push customers to raise Power Factor.
Customers must connect capacitors with the best rating across the inductive load for this reason. However,
the value of the capacitor must be chosen in accordance with the reactive power. The capacitors panel
automatically chooses the best capacitor value to maintain a power factor that is near to unity.

Increasing the power factor from a supply is the main goal of power factor correction. Capacitor Panels are
unique gadgets designed specifically for this purpose as they significantly boost the power factor
adjustment. The electric load that runs throughout a plant is typically reactive in nature and can reduce high
losses

 PLC PANEL:

Figure 4: PLC PANEL

Small industrial computers that are PLC (Programmable Logic Controller) Panels with modular
parts are used to make specific control procedures automatic. In factories and industries, PLCs are
frequently used for specific operations like to operate motors, fans, air circuit breakers, and other
machinery in a plant.

[12]
 Any process can be monitored by an integrated PLC panel, which can also supply data wherever
and whenever you need it.
PLC Panels' principal parts include:

1. Processor (CPU)
2. Inputs
3. Outputs

Advantages of PLC Controls are

1. Tough and made to tolerate noise, temperature, humidity, and vibrations.

2. Include input and output interfaces inside the controller

3. Have a programmable language that is simple to understand and edit.

 HMI PANELS:

Figure 5: HMI PANELS

Operators and line supervisors coordinate and control the industrial and manufacturing operations
in the facility using the HMI as their main tool. An operator's dashboard is the Human Machine
Interface (HMI). This is the main tool for converting complicated process variables into information
that may be used to take appropriate action.
The HMI's role is to display operational data in close to real-time. The motor and valve condition,
tank levels, and other broad data are explained and placed in context using visual process graphics.
HMIs provide control and optimization by managing production and process goals while providing
operational insight into the process.

[13]
 MOTOR STARTER PANELS:

Figure 6: MOTOR STARTER PANELS

A motor starter panel is made up of both direct on line (DOL) and Star to Delta motor starters.
When a motor is started, motor starters are used to temporarily lessen the load and torque in the
motor's power train. This increases the system's lifespan by lowering the load on the motor and
shaft of motor as well as the electrical stress on the connected power cables and electrical
distribution network of wires. A circuit breaker delivers power to the complete, which then
distributes it to the several motor starters and thus increasing the lifespan of the motors.

[14]
MISSION STATEMENT Of PARM ENGINEERS

“PARM ENGINEERS – PROVIDING SAFE AND EFFECTIVE SOLUTIONS”

VISION:

1. To be a professionally run business that prioritises client satisfaction and overall excellence.

2. To be dedicated to providing top-notch client service.

3. Compare to international quality norms.

4. Increase the client's business's economic worth

5. Possess a substantial market presence and be a market leader.

6. To be a dynamic, inventive, and financially successful worldwide automative corporation that will
become the go-to supplier and employer to add value for all the clients and customers.

MISSION:

"To continuously increase stakeholder value by maintaining global competitiveness while making a
positive social impact."

[15]
Five basic principles have been recognised by Parm Engineers, and we aim to incorporate these values into
our daily work. We come across phrases like stakeholders, society, and global competitiveness when we
read the mission. Here is an explanation of the motivation for these terms.

 Stakeholders: A stakeholder is everyone who has a relationship with a firm, including its workers,
suppliers, consumers, service providers, financial institutions, etc..
 Global Competitiveness: To become efficient suppliers of our goods and services that satisfy top-
notch quality requirements and are well-liked all over the world. We aspire to create goods that
meet our customers' QCDD (quality, cost, design, and delivery) requirements in every way. We
have been working to establish ourselves as industry leaders and benchmarks in QPCDSM, which
stands for quality, productivity, cost, delivery, safety, and morals.
 Society: As responsible citizens committed to upholding social justice, it is our duty to support
society. We pay taxes, make contributions to the exchequer, and actively work to preserve the
environment in order to raise environmental consciousness inside the organisation.

We sincerely Endeavour to live by our mission statement.

AIM OF THE COMPANY:

Aim of Parm Engineers is reducing the cost of production to offer better quote to their customers and
strengthening our Customer Base by providing assistance and consultancy to manufacturers and other
industrial outlets.

CORE VALUES

 Sustainable Growth: surpassing the industry with branded items contributing 70% of total growth.

 Brand Focus: We have maintained a continuous focus on building a strong product range, which
has led to a strong clientele.

 A Growing Footprint: Our continually expanding network of distributors enables us to maintain

our position as the world's top brand.

[16]
 Integrated Business Model: To maintain industry competitiveness, a steadfastly committed team
initiates and tracks efficiency efforts at the back end.

 Client-Centric Product: The secret to offering product that is unparalleled in quality and deliver
value for money is to understand customer specification and requirement.

 An ownership culture emphasising respect for all individuals, accountability to the people,
and ownership of our output: A dedicated and trained team ensures efficiency and innovates to
stay at top in our competitive industry.

 Innovations In Investment: - Parm Engineers could never be at the advantage of the demanding
and highly competitive Switchgear sector by always improving their products and quality of service
if they did not constantly reinvent the conduct of business.

 Ethical Business Practices: - In order to produce the finest output possible, procedures should be
run honestly and sincerely.

[17]
 CHAPTER - 2
POLICIES OF THE COMPANY

[18]
 1. HR Policies:

The firm division tasked with location, selection, hiring and training of candidates as well as drawing
benefit-plans for employees. People's knowledge, abilities, and motivation are the key to success. The
human resource is the least versatile of the four production components, yet it’s the only resource that may
get better with age and experience (under the correct circumstances). As a result, it is considered to be the
most valuable and rare productive resource that gives a company the greatest and longest-lasting benefit.

Following is the list of Policies:

 Bereavement Leave: If you need to plan, attend, or handle personal concerns related to illness or
death in your immediate family, you will be awarded a paid leave of up to 3 days. Your spouse,
parents, grandparents, children, siblings, brother, stepparents, stepbrothers, stepsisters, mother-in-
law, and father-in-law are considered to be members of your immediate family.

 Dress Code: Sky Blue shirts and navy pants are the required uniform for Parm Engineers.
Customers evaluate a company based on both its personnel and the quality of its goods and
services. The personnel are obliged to dress appropriately for work. The manager must make sure
that the employees on his or her team are dressed professionally.

 Equal Employment Opportunity: Parm Engineers’ policy is to give qualified people equal
opportunity in the workplace, in accordance with all applicable laws, despite any discrimination of
race, skin-colour, religion, age, gender, nationality, ancestry, physical or mental disability, sexual
orientation, or any other discriminated against class.

 Open Door Policy: It acknowledges that the build-up of silent, unresolved issues, complaints, and
queries can lead to unhappiness and negatively affect the working environment.

 Overtime: Employees sometimes might need to work beyond their regular hours in order to meet
delivery deadlines, in case there is backlog of orders or delayed availability of raw material.
Overtime is used to meet-out customers’ demands and make timely deliveries. Overtime is
approved by the department supervisor, manufacturing manager.

[19]
  Workplace Threats and Violence: The security and safety of its employees are the most essential
things to employer name. Any threats, threatening behaviour, or violent acts committed by anybody
on business property towards workers, clients, visitors, guests, or other people will not be accepted.

2. Policies regarding Employees:

The Company reserves the right to modify the policies outlined in this handbook at any moment. They
could occasionally get updated information about any policy changes.

 Creates a better working environment: It is the obligation of the firm to provide a productive
atmosphere that enables employees to meet both individual and group objectives.
 Operate as a team: The HR department is responsible for preparing workers to work as a team and
to maintain a neutral demeanour with both superiors and subordinates.
 Gift Policy: The gift policy is a very motivating rule that encourages workers to work hard to meet
company objectives. Employee loyalty to the firm is increased.
 Salary: company should follow business association rules or government policy for providing
salary to employees so that they are satisfied with company.
 Promotion: the company provides promotions to the employees according to the company
standards/rules.
 Overtime: If any employee works beyond forty hours in any given week, they are given overtime
compensation. Holiday, vacation, and sick time are not included for when calculating eligibility for
overtime.

3. Policies regarding Marketing:

 Policies are comprehensive declarations of shared understanding that generally express future
intentions. This set of policies was intentionally created to define a typical and widespread manner
of acting. They are therefore helpful in creating some consistency in behaviour among the current
faculty as well as in assimilating incoming faculty into the customs, principles, and values of their
peers.
 They assist with outlining what behaviour is considered acceptable and unacceptable for all parties,
helping to prevent unwanted deviances from the norm. Therefore, policies are one sign of our work
unit's culture. While providing guidelines for appropriate behavior, policies also give departmental
faculty a great deal of leeway and flexibility to deviate from what would otherwise be strict
prescriptions.

[20]
  Before a distinct department of marketing was established, the majority of the policies stated in this
manual were created by teachers in the management studies department. The faculty in the
department of marketing expresses gratitude to the colleagues in the department of management
studies with whom these policies were co-written. Many of the policies have been followed exactly,
although some have had changes made by the marketing department's professors.
 The department chair must give adjunct faculty the necessary information and instructions for
teaching. The rules must be adhered to by all adjuncts.
 Marketing strategies are employed to promote the product and the Company.

4. Policies regarding Production Department:

The Company’s goodwill depends on the quality produced that’s why it is important for the company as
well as for the clients for which the products are produced by the company.

 Company prepares quality product for the people so that they must satisfy the need of the
customers.
 First priority of the company is to produce the good quality products.
 It is the duty of the company to set standard price for the production.
 Use proper raw material for the production so that quality is maintained.
 Reduce wastage and make use of available raw material very efficiently.

5. Policies regarding Customers: Consistent policies regarding clients is very important for
the company, they are just like the benchmarks with the help of which company can work easily
and everybody has to follow them while customer dealing. Customers are the centre point for the
company for which they are producing.
 Company must satisfy the needs of the customers.
 It is the duty of the production department to produce products according to the demand and
requirements of the customer.
 Company should set the standard or fair price on which they have to provide the products.
 Use good quality if raw material and semi-finished goods for further production.
 Co. must consider the demand and supply of their product, so that they can make changes in the
product.

6. Hiring- Firing Employees Policy: According to the company's policy, applicants should
only be hired after having their criminal histories reviewed. Respect the employee's right to

[21]
 privacy regarding his or her marital condition, background, and personal life while recruiting any
employee. Parm Engineers doesn’t imply perks or employment stability that it cannot provide.
Company policy on discharging employees is that no employee should be fired out of resentment.
Follow all stated employment policies, including the termination process; the manager is required
to do so. The company makes sure the employee is informed of the legitimate grounds for his/her
termination when he/she is fired.

7. Bonus and Incentive Policy- Bonus programmes and employee reward programmes are
developed to meet the needs of several important managers and employees, including:
• To enhance individual or collective performance (for eg. productivity, sales or profits).
• To guide employees' attention on crucial goals for customer satisfaction, speedy, and timely
delivery
• The performance of any employee can be boosted by establishing a clear connection between
his/her compensation and the individual and team performance.
• To motivate with shareholder principle by giving employees a stake in the company's growth.
• To guide the company towards transformation.
• Establishing the appropriate professionalism and work culture, such as by appriciating
cooperation and punctuality.

CHAPTER – 3
[22]
 ORGANIZATIONAL
STRUCTURE OF THE
COMPANY

DEPARTMENTS & FUNCTIONS OF DEPARTMENTS

 Production Department: Inputs are transformed into outputs at various stages of the
manufacturing process by the production department. The main responsibility of production is to

[23]
 make sure that raw materials are turned into final/finished items. Production Manager is the one
responsible for ensuring that work is completed efficiently and for supervising practises which
make work more effective and pleasurable. There are several production-related sub-tasks.
*Planning and production: At each level of the production process, they will establish the standards
and goals. A manufacturing line's output in terms of both quantity and quality will be closely
observed.
*Purchase department: A department in which the owner is involved directly. This important
department works to make materials, components and equipment available to production and
maintenance department whenever required. This department also ensures that adequate stocks are
maintained in the Store and various components are timely delivered, are according to required
specifications, of good quality and are purchased at best possible prices. The owner keeps a check
on the department to ensure that purchases are made from any particular seller in exchange of
commission.
*The Technical Department: The individuals in this department are assigned the responsibility for
the design, development and testing of panels, new product and prototypes. Due to technical
background of Mr. Paramod Kumar, this department takes direct orders from him.

 Human Resource Department: Just like any other HR department, the role of Human
resource department at Parm Engineers is recruitment, training, and termination of employees in the
organization.
 Recruitment and selection: On the surface, the processes of recruiting and selection appear
to be very simple. Its purpose is to put the appropriate people in the appropriate positions to
accomplish organisational goals.
 The HRD offers training programmes including orientation, induction, on-job training, and
off-job training to help employees develop their skills and stay motivated.
 Manpower Planning: The HR division is also responsible to make workforce forecast to
predict the requirements of type and number of workers in the organisation. In the absence
of this rule, there might either be too few or too many personnel, or employees with the
incorrect skill-set at wrong position.
 Dismissal and Redundancy: A worker who performs poorly on the job or exhibits
unprofessional behaviour may be fired. When a company needs to lay off workers, it may be
because a branch is shutting or because it needs to cut expenses as a result of declining
profitability.

[24]
 Marketing Department: The main attributes of the marketing department of Parm Engineers
are as below:
 Most Crucial sub-department, the sales department is in command of handling sales and
delivery to the various clients in different areas.
 Promotion Department chooses the promotion media and method for different products,
recommends advertisements and the advertising media that can be used.
 Distribution Department looks into the out-bound logistics and picks the transportation
media and transport the products to the clients.
 Finance Department: Managers need up-to-date financial data for assistance in making better
and informed decisions. The wages branch of the finance department is in charge of determining the
wages and salaries of employees, provide compensation base on performance and choosing the
most suitable Insurance for individuals and their families. The technical specifics of how a firm
obtains financing, such as through loans, and the payment of interest on that financing will also fall
within the purview of the finance department. It will also oversee the distribution of dividends to
shareholders.
o Book keeping: This branch of finance department is required to perform a wide variety of
tasks related to maintaining of books of accounts which acts as a base for information
provision, and assisting managers in decision-making. What to anticipate from your finance
department will primarily rely on variables like the owner's or manager's level of
participation in the business.
o Financial Statement: The business's daily transactions, at the very least, are handled by the
finance department. This involves managing any federal reports as well as tracking every
transaction. This position is filled by Mr. Paramod’s family member with accounting
background and skills. Annual financial statements and returns are prepared by an outside
chartered accountant and advocate.
o Management of Cash flow: The organization's cash flow is managed by the finance
manager, the core functioning of this sub-department is to ensure availability of enough
money in hand to meet-out daily purchase requirements. This department also guarantees
that the firm receives payments within allowed credit period and that suppliers are paid
according to agreed terms. This section also includes the credit and collections function
from different clients.

[25]
 o Management of Accounting Information: This department consistently evaluates and reports
on important monetary aspects to the organization's owner, the finance department thus
contributes to the management and enhancement of operations. Managers also monitor
operations and determine where further attention is needed and are able to decide the correct
allocation of funds to various departments.

ORGANIZATIONAL CHART

[26]
[27]
ahtpilScsD
e
KEY PERSONNELS

1. Mr. Paramod Kumar (Owner):

Mr.Paramod Kumar is the Owner at Parm Engineers.

Mr. Paramod Kumar develop short term and long term strategies

and take all the vital decision like Goal of the Industry, Social

Responsibility etc.

2. Mr. Karan Solanki (Marketing Manager):

Mr. Karan Solanki is marketing manager at Parm Engineers.

Mr. Karan manages the sale of products and ensures timely provision of

Services, using solid time management skills and an experience of

more than 4.5 years of customer dealing and knowledge of

panel industry.

3. Ms. Payal Chauhan (HR Manager):

Ms. Payal is HR manager at Parm Engineers. She usually

looks into the recruitment and Selection process along with

compensation of employees She is also responsible for

providing perks and benefits to best performers in the

[28]
organisation.

4. Mr. Sahil (Accounts Manager):

Mr. Sahil is Accounts Manager at Parm Engineers.

Mr. Sahil performs all accounts related operation,

He records, analyses and presents financial operations

on Tally Prime used by the finance department.

5. Mr. Chandan (Production Manager):

Mr.Chandan is production manager at Parm Engineers.

He usually looks at the raw material, their procurement, usage

and converting those raw materials into finished goods.

[29]
 CHAPTER - 4
OBJECTIVES OF STUDY AND
METHODOLOGIES

[30]
OBJECTIVE OF THE STUDY

Any endeavour without a clear goal is equivalent to a tree without roots. The primary goal of any research
is established, and subsequent actions are then conducted in accordance with that goal.

Objective of Study:-

Following are the primary and secondary objective of the study

Primary Objective

 To Study the Functioning of the Finance Department in an Organisation(M/s Parm Engineers)

Secondary Objective

 To find out the company’s motivational strategies to engage employees.

 To find out different factors which influence employees’ welfare and the different action plans
executed by management for the same.
 To study the monetary and non-monetary deployed to motivate the employees in the actual
organisational setting.

[31]
RESEARCH

“Research is systematic method to gain new knowledge”

Meaning of Research

Research is "creative work done on a regular basis to add to the body of knowledge, including that which
relates to people, culture, and society, and the use of that body of knowledge to develop new applications."

Features of research:

1. Research should be properly arranged.

2. Research should have a purpose
3. Research should be in sequence.
4. A research aims at solving a particular problem
5. Research should be thoroughly planned and effectively executed.

MEANING OF METHODOLOGY

The term "methodology" describes the approach taken in study to address a particular issue. These are
crucial in managerial operations to address issues. To solve the problem, many theories and methods are
used.

[32]
RESEARCH METHODOLOGY

Research methodology is the approach used to gather information to make business decisions. The
approach might include study of pre-published research, surveys, and other research method. Any research
topic may be solved methodically using research technique. It could be scientific to examine the
methodological aspects of research.

The methodology includes following features:

• It includes a substantial set of procedures and principles connected to a topic of knowledge. It is a

systematic, theoretical investigation of methods used to a field of study.
• Methodology provides a theoretical grasp of the many technique sets that can be used in a given
situation.
• Since it is not intended to offer solutions, it is not the same as the technique.
• When it comes to methodology, researchers use several standards to address the specified study
issue.
• Using this approach, the researcher consistently strives to thoroughly investigate the provided
issue in his own way and come to conclusions.
TYPES OF RESEARCH METHODOLOGY

Experiments

Participants in research studies that involve experiments are required to perform distinct forms of tests to
assess their cognitive skills. Experimental tests are often conducted orally, written, or through computer.
The outcomes of several groups are then contrasted. Participants should just try their best rather than worry
about achieving well. Instead of measuring so-called IQ or passing judgment on individuals, these exams
seek to identify connection between individual performance and other free variables.

At Parm Engineers I used experimental research in order to gain insight of working of several inter-related
departments and found out how each department operates at individual and at organizational level.

Surveys

Surveys entail collecting and extracting information, from pre-specified groups of people, using a list of
carefully planned set of questions, called questionnaires, through interviews, e-mails or phone calls as well.
There are several surveys used by researcher. The most basic version (the "one shot survey") is giving a

[33]
questionnaire to a random sample of people in survey group. Another form is the "before and after survey,"
which is conducted before and then after a big event or experience carefully inserted by the researcher.

This method helped me to conduct an extensive study of different tasks carried out by sub-departments and
how each individual completes his/her assigned tasks with accountability. With this I was able to draw
down the organizational structure and interrelated tasks assigned to each individual.

Questionnaires

Questionnaires are often considered to be most useful to gather information from a pool of people
especially from those who are not willing to or do not have the time for one-to-one interview or sit through
a session. Questionnaires allow individuals to consider their options and provide correct and detailed
information without any hesitation and pressure of researcher. Unfortunately, some people ignore such
questionnaires. The main drawback being that researcher is unable to extract necessary information which
can otherwise be done in any interactive session.

Interviews

Interview refers to face to face interaction between two or more individual for a specific purpose. 
Interviews are frequently conducted in person, or one-to-one but these days, interviews can also be done
over the phone or using video conferencing apps like Zoom, Skype, etc. Interview is an important method
of data collection as it involves a personal interaction from data source allowing interviewer to extract the
desired information. The interviewer can adopt a structured interview, which involves asking direct, pre-
planned questions or semi-structured method where interviewer goes along with the conversation in a
casual and informal manner. The researcher can also use multiple choice questions or checklist in a
questionnaire to take interviewees’ response during the interview. The researchers can prepare and
maintain notes and other records to see which topics were brought up by the participant in an interview
session. They can also look for patterns or similarities among responses. If a large number of participants
seem to have similar opinions about one topic, for example, that would be an area where further
investigation may be needed.

Another method is conducting focus groups. This involves interviewing a group of people together who are
all familiar with the same thing being studied and collecting responses and opinions on the topic.

Case studies

[34]
Case study refers to observation and study of a specific event. Data gathering and analysing methods of
different cases vary. In a case study the researchers may study a case for a particular event or occurrence
and choose one or more facts from that event to extract the desired information from the case. Case studies
have a niche focus, resulting in thorough descriptive data that is useful and meaningful for the researcher,
Case Study has practical applications and may potentially challenge established beliefs and practises in
other disciplines.

Sampling:

This survey for the report is focused on few employees at Parm Engineers therefore I chose probability
sampling as a method of sampling technique. I used descriptive research design and used survey method to
collect the desired data from the company.

Size of the Sample:

I chose a sample size of 30 individuals and random sampling is used to collect the data from the chosen
samples.

Statistical Techniques:

I gathered, modified and then finally summarized the entire data in the form of table in percentage form

Universal Finite ( employees working in company under study)

Sample Size 30
Sampling technique Descriptive and Analytical
Data Collection Primary Data and Secondary Data
Analysis Pattern Tables, Graph

Data Collection:

This study's technique merits special recognition. Secondary sources of information are used in the
research investigation. Data is collected using both primary and secondary sources of data. My study is
primarily based on secondary data. I gave Employees questionnaires to complete in order to obtain primary
data. The surveys were meticulously created for employees in various roles in order to accomplish the
desired objective of the study.

[35]
SWOT Analysis

Figure 7: SWOT ANALYSIS

Meaning of SWOT Analysis?

A SWOT Analysis is a tactic for examining 4 distinct aspects of any organisation. SWOT i.e. Strength,
Weakness, Opportunities, and Threats that an organisation has or faces from internal and external business
environment.

An organisation may maximise its contribution and can gain a competitive edge in its respective
industry with the help of a SWOT analysis. By identifying its weaknesses and eliminating any obstacles
that may otherwise hinder the growth of the organisation. Thoroughly done SWOT analysis reduces 
the chances of failing of new avenues explored or any sort of changes made in the organisation. I t  helps
to create a strategy that sets the organisation apart from its rivals and enables it to dominate the market.

How to execute SWOT Analysis

First step of SWOT analysis is forming up an Analysis matrix

Chart 1 The Matrix.

[36]
STRENGTHS WEAKNESSES
Which area does one excel in? What areas does one face problems from?
What distinctive qualities do you have? What resource does one lacks in?
What sets one apart from others? What flaws are prevalent?

OPPORTUNITIES THREATS
Possibilities available in the market. Dangers prevalent in an environment
What event can one exploit to gain profits? Competitors and their market presence
What steps can be taken to his use strengths to hunt What can go wrong if flaws are not rectified?
for opportunities?

A SWOT Analysis may be conducted in 2 ways, first is to collect subordinates to "kick off" the process in
an informal manner, or as a more complicated and structured methodology. To conduct SWOT analysis,
one should assemble a team from various roles and levels inside an organisation. Then a list of opinions
regarding where the company stands now using brainstorming approaches and then listing the Strength,
Weakness, Opportunity, and Threat in the appropriate part of the above drawn matrix..

To determine which sector a concept fits in, strengths and weaknesses should be characterised as internal
qualities pertaining to the organisation, its assets, procedures, i.e., the internal environment of the
organisation. While opportunities and threats should be treated as external elements emerging from
competition, suppliers and overall external business environment.
Each element is explained in detail below

Strengths
Strengths are things that an organisation does especially well or in a way that distinguishes it from
competitors. They are basically the advantages that a company has over its rivals. Boosting employees’
morale, access to certain resources, or a robust set of manufacturing processes are examples of these.
As an organisation depends on its talents it should clearly be able to understand in what areas does it excel
in as compared to other similar players? It is basically distinct or low-cost resources that can be accessed
by the organisation without any hassle? It is the company's Unique Selling Proposition (USP) and includes.
It should be noted that that anything is strength for a business if it provides an organisation with a distinct

[37]
advantage. For example, if one’s competitor offers free service for a year, then a service provision for that
duration is not strength, it is a must.

Weaknesses
Weaknesses are an organization's flaws. A SWOT Analysis is only useful if the analyser is able to gather
all necessary facts and figures. So, one should be practical and should face any hardship or uncertain
situation as calmly as possible. Weaknesses, like strengths, are crucial part of the organisation and it should
focus on its resources, employees and systems, An organisation should always consider what it could do
better and what practices should be avoided for the interest of the organisation.
Organisations should also investigate how others in market perceive it and required effort should be made
to find out why competitors outperform at times and corrective actions are a must.

Opportunities
Opportunities are openings or opportunities for something wonderful to happen, but you must seize them!
They often come from conditions outside of your business and need anticipating what may occur in the
future. They may arise as a result of changes in the market you serve or the technology you use. The ability
to identify and capitalise on opportunities can make a significant difference in your organization's ability to
compete and lead in your market.
Consider good prospects that you can identify right away. These don't have to be game changers: even little
advantages may boost your company's competitiveness. What noteworthy market trends, major or little, are
you aware of that might have an impact? You should also keep an eye out for changes in government
policy affecting your sector. Changes in social patterns, demographic profiles, and lifestyles can all open
up new possibilities.
Threats
Threats are defined as anything that can have a negative influence on a company from the outside, such as
supply chain concerns, market demand changes, or a shortage of personnel. It is vital to anticipate dangers
and respond to them before becoming a victim and a subsequent hindrance in the growth.   Difficulties
faced in getting a product/service to market and promoting it should be understood. Quality standards or
requirements for the products are changing, and one will need to constantly update those products to stay
ahead of the competition. Technology is both a threat and an opportunity and should be handled carefully. 
Competitors' actions should be constantly monitored and organization's emphasis should be to adapt to face
the challenges. However,  competitors' actions are not always right and might not be the greatest thing for
the organisation to do, and avoid imitating them unless you its benefit are clearly visible for

[38]
the organisation. The analyser should check to see if the company is particularly sensitive to external
forces. Terrible debt or cash-flow concerns, per say, could badly affect the organisation, these are the sort
of hazard that can really affect an organisation and it should constantly conduct environmental scanning to
foresee such problems and take timely corrective actions.

How to Use a SWOT Analysis?

 After the study all four parts of SWOT, the analyser is able to pin point several qualities and defects
in an organisation. It ultimately can lead to strength building, overcoming of weaknesses by
avoiding dangers, and helps the organisation to capture majority of opportunities available.
 Before taking any action, the analyser should check for potential links between different quadrants
of SWOT Matrix, like leveraging some of the organisations abilities to create new opportunities in
the market. Or by eliminating some of the problems to make even more opportunities?
 Next comes the prioritising of ideas so that you can be implemented make the desired change and
further strengthen the organisation. Each point should be carefully considered to reach the right
conclusion.
 SWOT Analysis should be used along with other tools, so that you get a comprehensive picture of
different problems and basic organisational functions can be drawn.

SWOT Analysis of Parm Engineers

.
Chart 2 A Completed SWOT Analysis of the Company
STRENGTHS WEAKNESSES
Which area does one excel in? What areas does one face problems from?
What distinctive qualities do you have? What resource does one lacks in?
What sets one apart from others? What flaws are prevalent?
 Because there is no red tape and no requirement  The company has a small presence or
for upper management permission, we can reply recognition in the market
extremely rapidly.  The company has a small staff, with semi-
 The lead manager and owner have a good skilled individuals in many core areas.
reputation and connections in the market.  The company is vulnerable to staff leaves or
 The firm can marketing strategies quickly due to leaving.
limited investment in different forms of
marketing.
 The co. has low overheads, the benefit of which
is transferred to the clients.

[39]
OPPORTUNITIES THREATS
Possibilities available in the market. Dangers prevalent in an environment
What event can one exploit to gain profits? Competitors and their market presence
What steps can be taken to his use strengths to hunt What can go wrong if flaws are not rectified?
for opportunities?
 The automation sector is expanding, with many  Extreme development of techn. might change
opportunities for success this market beyond the company’s ability to
 The company has several MSME benefits in the adapt.
form of low interests and subsidised electricity.  A small change in the focus of a large player
 The competitors are slow to adopt new can wipe out any market position the firm has
technology already being used achieved over the years.

The firm's primary strengths are technical knowledge of Mr. Paramod. Minimal overheads give room for
innovation and unburdened operations. This enables them to provide outstanding services to a limited
client base for their complete satisfaction.
The primary problem of the firm is mainly its size and its inability to have a huge impact in the industry.
To increase the abilities of the tiny team, the firm will need to boost its training. The firm also needs to
keep an eye on employee retention to avoid losing crucial team members. Mr. Paramod is in favour of
providing fast-response and high-value services to the local clients and government agencies. As the
competitors are slow adopters, the firm is likely to be the first to market with innovative products and
services.
The risks main risk that the firm faces is technological advancements. Due to its sensitivity to large-scale
changes the company constantly needs to monitor its competitors and make small changes to stay current
and relevant in the market. Rather Parm Engineers should concentrate its marketing efforts on certain local
industries in order to achieve the maximum market visibility on a small advertising budget.

[40]
RESEARCH DESIGN

“The research design is the framework or strategy for the study that guides data collection and analysis."

Definition
According to Bernard S. Philips
“Research design constitutes the blueprint for collection, measurement and analysis of data”.
This project's study design is Descriptive in nature since it is focused with describing the
characteristics of a certain group. The study design is based on the provision for bias prevention and must
optimise dependability while keeping the cost of the research in mind.

TYPES OF RESEARCH USED IN PROJECT

1. DESCRIPTIVE RESEARCH
Descriptive research is used to describe the characteristics of the population under investigation. It does not
address how/when/why the qualities developed. There are three approaches a researcher can take when
conducting descriptive research.
 Observational
 Case Study

[41]
  Survey

2. EXPOLATORY RESEARCH
Exploratory research is undertaken to solve an issue that has yet to be defined. The fundamental goal of this
type of study is to create insights into the situation. It investigates the primary areas of concern and
attempts to recommend a plan of action.

[42]
 CHAPTER – 5
DESCRIPTION OF
DEPARTMENT WORKED IN
AND
LAYOUT OF THE COMPANY

INTRODUCTION TO THE TOPIC

FINANCE is an essential component of any successful business and a critical foundation of any
organisation. A financial department currently has several duties both inside and outside of a company.
Every organization's financial management has a substantial influence on its performance and success.

[43]
Keeping a close check on the financial function is crucial for the smooth operation of a business.
I've gone through the roles and responsibilities of a finance department in the Electricals and Automation
Industry in this report through M/s Parm Engineers.

Points Covered:

1. Definition of finance

2. Qualities of Finance Department

3. Roles and Responsibilities of a Finance Department

3.1 Bookkeepers in the Department

3.2 Cash flow management

3.3 Budget formulation and forecasting

3.4 Finding long-term financing sources

3.5 Management of Taxes

3.6 Company’s capital management

3.7 Financial Reporting and analysis

3.8 Strategic decisions with financial data

Definition of finance

Finance must be understood well since it has diverse meanings and interpretations in different
circumstances. "Finance may be defined as that administrative area or group of administrative duties in an
organisation that pertains to the arrangement of cash and credit so that the organisation may have the means
of carrying out its objectives as satisfactorily as feasible,

Finance, can also be defined as “the application of economic concepts to decision-making that involves the
distribution of money under uncertain situations”.

Finance is described in "Financial Management: Principles and Practice" as "those activities connected
with the acquisition and conservation of capital money in achieving the demands and overall objectives of
an organisation."

[44]
Upon examination of the above definitions it is revealed that finance is the most basic resource which
assists production and maintenance of other functions in an organisation.

Qualities of Finance Department

The Finance Department of an organisation is responsible for arranging and procuring finances for the
company, managing the funds of the company, and planning expenditure on materials and assets in
coordination of purchase and production departments. This department of an organisation ensures the
management and control of funds which basically is the backbone of all other departments in the
organisation.

Roles and Responsibilities of a Finance Department

The combined data collected on finance department at Parm Engineers, I learned that time allocation, and
the value placed on finance operations makes the department a crucial part of the corporate machinery.
Individuals at the Finance Department perform a variety of tasks related to arrangement and maintenance
of funds for every other subsequent operation/task of various other departments.

LEVELS OF RESPONSIBILITIES OF FINANCE DEPARTMENT

Accounting, recording of business transaction and their processing, tax calculation, cash flow management,
and financial controls all are exclusive task of Parm Engineers’ finance department.

Application type areas with medium degrees of finance department responsibilities include general
management and control. These are the areas of operation where the owner and finance departments
generally seek high influence. Employees are generally busy with business transactions on a daily basis.
Overtime is frequently used in the finance department to cover backlog of financial and related activities. 

Finance activities the priority area

The Finance department at Parm Engineers is a priority operation. Accounts maintenance, budgeting, and
bills and payments processing etc. are some of the activities which are given 'high priority' by the manager.
The reason being, these activities are capable to have a big influence on overall organisational operation

[45]
and performance. The owner has high expectations from finance departments and relies greatly on the
accounting information of the department to resolve any issues as soon as possible. Similarly high value
and trust is placed on the manager his suggestions are taken into consideration by owner to navigate the
organisational operations. So basically the finance department is business assistance and decision support
system for the organisation.

Strategy and compliance are also given high priority. Assessing the relative importance of these two sectors
is sometimes a major difficulty for finance departments.

Management of book-keepers, financial systems, and enterprise-wide accounting software are also seen as
critical. Necessary Training and Development activities are carried out to maintain fluency and updating
the accounts according to ever changing government norms and regulations.

Accounting and reporting, transaction recoding, and money control are rated as less important. These
operations are carried out on a daily basis by semi-skilled staff, with the expectation that they will carry the
above tasks correctly and efficiently. Manager interacts with the book-keeping staff only when when big
problems arise or significant changes are required.

Time allotted to the finance departments

Employees in the finance department have a hectic 9 to 5 job involving processing of different transactions
that take place on a daily basis. The time spent by subordinates in finance departments on transactional
operations, book-keeping and processing, etc remained stable during the study period. But according to the
manager, the whole department has to do overtime at the end of financial year due to load of making of
balance sheet and the subsequent audits as advised by the government.

Finance department adaptability

The variances in finance department tasks shown by the survey, I can conclude that these operations carried
out, would differ among organisations. The range of operations is wide.

[46]
Furthermore, the previously described inherent tensions cause discrepancies in the finance function,
implying that the departments must continually check the efficacy of their actions and respond to any
difficulties detected.

The combination of the drives, as well as the associated conflicts and obstacles, suggests that finance
departments must continuously adjust to their specific circumstances, which may involve taking on more
tasks or renouncing current ones.

Implementation of finance activities

This section includes the forces that influence the finance operations are carried out under the
environmental and organisational forces and factors. These factors have a direct impact on financial
operations. The finance activities have an influence on organisational drives, as indicated by the trust and
importance given to the finance department.

Manager uses a list of tasks as a checklist to make sure that finance department integrates completely with
inside organisations and external factors, they consider their particular conditions.

The diverse set of factors and their interactions imply a high level of complexity and unpredictability. The
effect of such complexity and uncertainties is hard to asses on the financial function. The following are
important points:

Environmental drivers

1.1.1 Legal and Social considerations are critical for the organisation setting in which financial
operations take place. Law, for example, will have an impact on monetary regulation, and social
drivers will have an impact on views toward various stakeholders’ value.
1.1.2 Financial operations must adapt to market factors, such as the economic and monetary
environment, as well as customer and supplier connections. Financial crises can have a huge
impact. Competitive challenges force the financial employees to work more closely with all the
areas and departments of the organisation, such as production and sales.
1.1.3 Location - Regional differences, have a strong, often contradictory, influences on the operations
and working of the finance departments.
1.1.4 Advances in technology like use of accounting software for book-keeping and preparation of
financial statements have a revolutionary influence on the quality and execution of financial
operations.
1.1.5 Variances in industrial sector, and specifically differences in degrees of uncertainty, have an
influence on financial operations.

[47]
Accounting drivers in the business environment

Accounting activities are a part of business environmental, although they are examined individually due to
their special significance to the finance function's job.

i. Accounting representation: Financial information is largely based on forecasting, estimation, and

assumptions and can only offer a partial portrayal of organisational reality. Due to which, finance
departments adopts many methods for collecting and recording of accounting information
production, presentation, interpretation, and utilisation. Clearly, if later events demonstrate that
these methodologies and accompanying assumptions are incorrect, the reliability of the
information producers and users may be called into doubt.
ii. A variety of strategies can be utilised for management and control. There are no hard and fast
rules on what is suitable in any particular scenario. However, there is some evidence that
merging financial and non-financial variables is desirable.
iii. Regulation has a direct influence on all financial activity. Financial scandals draw attention to
this issue. Finance experts are under some pressure to focus on larger regulatory concerns, such
as sustainability.
iv. Accounting professionalization has altered financial activity. This effect has increased as a result
of wave in the accounting sector in the nation. Now accounting function is a diverse sector with
high scope which is highly influenced by laws established and implemented by governments.

Organisational drivers

i. Ownership: Although the amount of intervention varies, the impact of owner or a body to which
a firm is answerable has a crucial influence on the emphasis of financial operations. Changes in
ownership or accountability can have a substantial impact on financial activities.
ii. Size has a significant impact on finance operations, notably the professionalization and
formalization of the accountants, as well as the range of tasks of the department.
iii. It is crucial to align financial management with control operations
iv. Financial operations depend on the structure of the organisation as well. Cooperation and
coordination between finance and other functions is crucial for hassle free daily-operations.
v. The abilities of individuals in the finance department influence the quality and efficiency of tasks
carried out in the department. Hiring adequately competent personnel, on the other hand, is
problematic and difficult. While finance departments can shape their own roles, they are many
times led or affected by senior management including the owner.

[48]
 vi. The departments’ tasks also vary according to the organisational culture, freedom of operations
and control centres in the organisation.

RESPONSIBILITIES OF FINANCE DEPARTENT

The responsibilities and accountability of the finance department in an organisation

At Parm Engineers there is a high level of responsibility in the financial department. Book-keeping, daily
transaction processing, financial statements preparation, tax estimation, cash management, and finance
controls are some of the activities taken-on by the department with complete autonomy and low
interference. Other responsibilities which are complex in nature like strategy formulation are overseen by
the manager.

Organization-wide accounting software makes the above tasks easy to complete within set time. Investment
evaluation, debt arrangements, cash-current account maintenance, etc. are some other responsibilities taken
on by subordinates in the finance department.

The gathering and recording of non-financial information also is a part of responsibilities of the department
at the firm.

High importance of Finance Department

Because priorities are impacted by the framework's drivers and an organization's specific environment,
'high significance' scores will fluctuate dramatically over time and among organisations. As a result,
averages must be used with caution.

Financial information has the highest average 'high relevance' score, which covers reporting to the
manager/owner, accounting analysis, budget-making, and assessments. The finance department has high
authority and influence on the above activities of the organisation. There are most certainly strong
expectations from the finance department that it will conduct these operations effectively and any issues
will be resolved as soon as possible.

Strategy and compliance are also given high priority. Assessing the relative importance of these two sectors
is sometimes a major difficulty. Drawing and implementing an effective financial strategy. However,
finance department involvement in strategy formation depends largely on management style. Clearly,
compliance with regulations is required and must be prioritised.

Management of subordinates, financial systems, and enterprise-wide accounting software are also crucial
aspects of the finance department. Each task has its own importance in the finance department and has
some sort of impact on overall organisational effectiveness.

[49]
Accounting and reporting, transaction recording are rated as less important. These operations are frequently
seen as 'hygiene' aspects, with the expectation that they would be carried out correctly by interns in the
department as they do not have a contributing value for the organisation. They receive considerable
managerial attention when unmanageable problems arise or the subordinates are unable to complete a
particular task or solve a problem at hand.

Time management of activities

Strict time-management practice is prevalent in the finance department of Parm Engineers. Managers take
many actions and strict controls are imposed to ensure timely completion of all the activities in the
department. A team of dedicated subordinates works around the clock to keep books of accounts up-to-
date, maintain accounts on the accounting software and all related tasks in the department.

Time-boundations in the department are strict due to high importance of financial department on the entire
organisation. Managers and the owner are able to make quick decisions after due analysis of the financial
data which is readily available at the disposal of the manager and owner.

Extracting and understanding the results

Managers are extremely cautious while drawing conclusions from the financial data because they are based
on estimations and averages. Results are drawn afters a particular time period from the daily data and
comparisons are drawn to check the organisation’s performance and take corrective actions timely to avoid
huge losses and protect the organisation’s stake.

Synchronisation of finance activities

Finance function of an organisation is comprised of a cohesive set of interconnected operations. A finance

department is often in charge of the procedural elements of creating information, including financial
controls. Some of the major decisions regarding various departments are based on the findings of finance
departments. Therefore owner emphasizes on accuracy of finance operations to ensure that the decisions
taken on the basis of financial data are correct and don’t have a negative effect on the organisation.

Factors implementing the finance activities

Here I’ve addressed a variety of interconnected factors that influence the way in which financial functions
are implemented in an organisation. These can be categorised as below:

• Environmental drivers define a setting in which organisation and its financial operations function. These
have an effect on financial activity both directly and through other departments indirectly.

[50]
• Accounting factors that are relevant to the finance function's role. Their nature and effects are primarily
determined by environmental factors, though they also contribute to environmental shaping. Accounting
environment drivers have an impact on finance activities both directly and indirectly.

• Organizational drivers emerge from an organization's economic, operational, and behavioural profiles.
Interactions between both the Environmental and Accounting environment drivers determine their nature
and impact. There is a strong connection between working of the organisation and the activities of the
finance department as organisations growth and progress are directly proportional to the efficiency of the
financial activities of the finance department.

Above factors show the connection between various factors and their effects on the financial function.
Changing conditions and business environment also changes the effect of the factors on the department and
subsequently on the organisation.

The effect of each factor has to be monitored constantly in order to foresee any big change coming in the
environment and the finance department needs to be able to make quick changes in order to adapt
according to the new circumstances rapidly and be able to tackle the changes in a smooth manner.

Different factors in the environment which influence the financial operation

Different factors in the business environment influence the financial operations and their effects in the
organisation, both directly and in an indirect manner through their impact on the accounting and other
organisational factors/departments. There are 5 basic factors which influence the financial operations in the
organisation:

Political factors along with social complications

Political and social factors are critical on the financial transactions of the business. Politics, for example,
will have an impact on regulatory systems such as tax, corporation, contract, property, and employment
regulations. Many aspects of company will be influenced by the social environment, including views
toward shareholder value, sustainability, and corporate ethics. Finance activities must clearly adapt to
social and political variations between nations when organisations operate nationally or internationally.

Market

Market drivers are broadly defined to cover the economic and financial climate, as well as client and
supplier connections.

[51]
The ever-changing conditions of demand and supply and capital markets influence the financial operations
organisation and their priority in any organisation, particularly:

• Changes and control actions are adjusted by the in-charge in response to market developments.
Management and control methods are designed to help organisations survive and accomplish their goals.
As a result, for these practises to be effective, they must be implemented after a thorough analysis of
influence of different market changes and forces on the functioning of the firm.

• Market changes are reflected in strategy and risk initiatives. Similarly, approach and risk management
approaches must be analysed to know their influence on market dynamics. Long-term value creation is
made exceedingly difficult by competitive markets and insecurity, and finance departments must analyse
and explain the implications of above market circumstances and associated risks of changing market
conditions.

• Financial personnel get increasingly involved in operational activities. Increasing market constraints lead
to high preference on financial performance, this leads to high involvement of finance employees in
supporting operational operations. This is mirrored in the increasing emphasis on the activities of finance
department.

• Financial crises may have a significant impact on how financial operations are carried out. Financial
crises force financial activities to take centre stage, with major managerial attention. Finance department
also determine a course of action as a consequence of any market change like cost-cutting, hiring,
termination, as well as offer institutional approval for it to be done. Despite growing demand and
importance of the finance department is largely dependent on optimising market conditions.

Location

National differences, globalisation, and their interactions all have major, often contradictory, impacts on
how financial operations are carried out. The primary effects are on:

• Compliance. Organizations operating in a single jurisdiction must comply with local regulatory
obligations, even if they must adapt to changes brought about by local government, such as the adoption of
GST etc. When an organisation operates in different states, it must deal with the difficult handling of
manufacturing, head office operations, and local obligations.

• Design and implementation of management control systems distinct local factors interact with convergent
national forces in a complicated way. Local influence and traditions determine the importance of financial
employees, accounting mobilisation, and strategies and processes used for performance management. In

[52]
contrast, diversification leads to increased uniformity, such as in the consulting business. Large
organisations adapt according to different local factors.

• The significance of finance and its subsequent information. Different local traditions and practices may
place different weights on effects of financial information and how it affects the organisation. This affects
the influence of finance activities in the organisation.

Information technology

Its relentless development has the potential to have a revolutionary influence on the functioning of financial
operations drastically.

• Transaction processing time has decreased drastically as technology provides process automation and
standardisation.

• Data collecting and analysis for the department has become very convenient and control actions can be
implemented very effectively. Technology enhances the capacity for financial information collection,
analysis and extracting of results, as well as access to new types of relevant information. As a result,
finance departments may be able to contribute more to support the organisation, its performance, and
improve the decision making process.

• Information dissemination has altered the activities of financial professionals. Technology has made
financial information more accessible and useable throughout organisations. This might result in either a
reduction or an extension of the functions of financial personnel. Increasing importance of finance
employees has lead to its high involvement in decision-making. In addition to the potential advantages and
changes brought about by technological advancements, it finance has become a crucial resource for any
business and its management even more.

When manual and technological are used information sources might become fragmented. This can happen
for a variety of reasons, including obsolescence, cross verification, and duality of results from both ends.

The collection and harmonising information from diverse sources may result in serious inaccuracies and
misconceptions. Finance employees in many organisations spend a significant amount of time attempting
to tackle the underlying causes and effects of such difficulties.

Furthermore, difficulties might arise as a result of information overload. Accounting software allows for
less expensive and 24X7 access to new and larger sources of new insights with more depth. The
disadvantage is that this may result in overload of available information, making it harder to determine the
most relevant and helpful information.

[53]
Sector

Differences in industrial sector have an influence on how financial operations are carried out, especially
management style, plan formulation and risk management. Most of the information emphasises on
variances attached with varying market and demand conditions across industries. Utility firms, for
example, may suffer less uncertainty than IT software companies. Furthermore, standardisation of
procedures and quantifying outputs in the service sector is very hard due to which many financial
operations in the service sectors differ from those in manufacturing.

Accounting factors

Accounting environment factors which come under business environment factors have a direct bearing on
the activity of finance department. The major accounting factors which have affect the finance operation
are listed below:

Representation of data in Accounting

Financial statements which comprise of balance sheets and P&L statement can only ever convey a skewed
picture of reality of a company. Representation in the books of accounts dependent on the policies and
procedures adopted by the organisation and the intellectual abilities of the people responsible for recording
and analysing the accounting data . Although accounting information is critical for decision making and
management of the firm, it should not be over-utilised and several different factors must be taken into
consideration while making decisions.

• Account statements are generally based on speculations and estimates regarding expenditure and
income over a particular duration. Accounting reports contain a lot of information that is dependent on
assumptions about an uncertain future. Several uncertainties in accounting like risk of bad debts, adoption
of method of depreciation and rate of depreciation, and changing government policies make the data
unreliable to a certain extent. Accounting of one-time occurrences may necessitate future judgments and
create a gap in comparison of statements of different accounting periods. Such concerns lead to the
constant revision of rules and procedures of accounting adopted by the organisation, which results in
changes which must be accepted by the finance department. If a result deviates from past assumptions and
accounting rules, financial reports are vulnerable to ongoing restatements.

Furthermore, decisions concerning matching concept that is “how revenues and costs are allocated to
different lines of business and different time periods can have a substantial impact on how a business unit's
performance is regarded”. Allocation of different expenses and matching their effect on revenues too is an
important activity which leads to accountability in different departments.

[54]
• Financial managers interpret accounting principles differently and adopt organization-specific functions
to attain accounting results. In practice, this is applicable for a wide range of applications. However, if
subsequent events show that these assumptions were inaccurate, previous accounting statements may be
deemed untrustworthy. If the resulting changes are considerable, credibility of book-keepers who generated
the information and used it to make choices and take action which might lead to wrong decision making
and possible loses for the organisation.

Management and control techniques

The approach utilised to analyse, project, and report financial data has a significant influence on how
management and control operations are carried out. Two major motifs emerge:

• The approach employed has an influence on how management and control operations are carried out.
However, no clear rules for determining which is most suited have emerged. Management accounting
systems have evolved due to unique historical, diversification, and changes in business environment.
Inspite of extensive study on their application, no coherent patterns have been established to help guide the
selection of the best suited approach in a specific context.
• In order to improve performance, organisations establish strong cooperation between financial operations
and activities of other departments. However this coordination is very difficult to attain

Regulation

Control operations vary according to requirements and management style used in an organisation, with
repercussions on interrelated financial tasks.

• The relevance, complexity, and technological needs of compliance activities are determined by the weight
of regulation. Over the years, regulatory requirements have increased, resulting in major changes in
financial departments. Because they are mainly non-negotiable, financial leaders must devote more time
and attention to them. This has increased the relevance of control due to growing uncertainties associated
with noncompliance. The rising control and regulations may also drive out other financial tasks like as
management and control.

• Furthermore, financial scandals draw attention to its significance. The adoption of Sarbanes-Oxley in
reaction to Enron, WorldCom, and other scandals was a clear illustration of this. Regulation has an
influence on working and role of a department. Accounting activities, which must respond to both external
and internal duties, are obviously influenced by the information and financial controls imposed in an
organisation. When regulations constrain organisational activities and there is a propensity to maintain

[55]
consistency between management information and external reporting, management and control are also
influenced.

Finance professionals are under some pressure to focus on larger regulatory concerns, such as
sustainability. Because of the relevance of natural environment, ethical, and governance challenges, the
finance function is expanding its reach beyond the simple financial.

Professionalization of accounting

The professionalization of accountants has impacted on financial activities in several ways, including:

• The training requirements and standards required by professional organisations to which a major number
of finance executives belong heavily impact the implementation of finance activities. The requirement for
professional independence in reaching early guidelines, notably in the fields of insolvency and audit,
prompted the formalisation of accounting. The accounting profession has risen in scale and significance,
and it will continue to do so. For example, the enrollment of professional accounting organisations has
steadily increased, and they have contributed in the integration of universal accounting rules.

• Rules-based regulation and a stronger commitment to businesses than to the accounting field,
however, have problems. The authority of professionals has diminished as regulatory standards have been
implemented by governments and other international agencies more frequently in recent years ,which has
lead to diminishing reliability of accounting data.   Additionally, there is a fundamental inconsistency
between employer and subordinate coalitions.

Organisational drivers

Organizational drivers are traits that direct a company's financial activities. As organisations adapt to their
settings, the environmental and accounting environment drivers have an effect on the organisational drives.
It is essential to emphasise that even while financial transactions are a significant component of every
organisation, strategies the company also affect and have an impact on them. There are 7 known drivers:

Ownership

All financial operations are heavily influenced by proprietors and those who hold a business responsible.

• Financial expectations must be met and managed under pressure. The intensity and kind of financial
pressure on different organisations differs according to the nature of owner and management style in the
organisation. Many equity owners, for instance, desire significant dividend returns; nevertheless,
institutional investors, including pension funds, usually invest for extended duration.

[56]
• The level of control and influence on finance department also differs. In family businesses or small scale
firms, owners have broad power over how financial operations are performed in an organisation. If finance
is raised from an angel investor, it pressurises the finance procedures and results to change. Interventionist
private equity companies, in particular, may enforce strict reporting standards and control requirements.
Joint ventures may confront complicated and even contradictory obligations from their owning partners.
Obviously owners have low influence on finance operation in firms which have diverse shareholder base.

• The impact of an ownership change  might lead to changes in every aspect of financial activity, which can
be implemented to accommodate the altered needs of the new owners or to incorporate the practises of
merged or acquired organisations. Since there may be compatibility issues with all financial processes,
including psychological and organisational factors, technological systems, and financial standards,
managing a change in ownership may be extremely difficult.

• Influence of equity ownership Organizational aims differ from those of commercial organisations due to
public ownership/accountability or nonprofit status. Financial objectives are not important to overall goals
of a firm because the desired outcome is maximisation of profits at all costs. Strict financial restrictions in
smaller firms completely alter the finance activities and their effect and role in the smaller firms

Size

The size of an organisation has a considerable influence on how financial functions are carried out:

• Big business houses have more complex and formal management style and control protocols, as well as a
higher usage of specialists. Indeed, some claim that the creation of accounting systems was critical in
allowing massive, multi-divisional corporations to thrive.

• Finance employees may have larger responsibility in smaller organisations, and finance tasks may be less
difficult. These expanded tasks are the result of inadequate managerial resources. Style of management
and protocols for controlling are simplified, and tasks are carried out with independence and low
interference.

• Because of its interplay with other causes, the particular influence of size is not always evident. This is
especially true in bigger multidivisional organisations, where financial tasks might be dispersed broadly,
with varied extent of responsibilities or expertise in accordance with the structure of the organisation.

Strategy

[57]
The implementation of financial operations, particularly management and control, is driven by a strategic
emphasis.

• It is commonly believed that a strategy's compatibility with management and supervision procedures is
advantageous to an organization's success. Due to which, modifications to management and supervision
activities may be necessary for successful plan execution.

• Yet, integrating management and supervision practises with strategic plans might be difficult.
Management and supervision processes are often focused on small duration performance, but strategies are
typically focused on the medium/long term. Alignment may be difficult to achieve, especially when
activities that improve small-term success can harm strategic plans formulated for long-term

• “Feedback from management and control may be used into strategy creation. The feedback from
Management and Control activities can be a key input into strategy creation. In this instance, there would
be a continuous feedback loop between strategy creation and management and control operations. It is also
worth mentioning that the importance of the finance department in comparison to other departments may
be greater in organisations seeking acquisitive or retrenchment rather than organic expansion”.

Organisational structure

Organizational structure is inextricably linked to how financial operations are carried out, specifically:

• “Finance activities impact and are influenced by organisational structure. The organisational structure will
have a significant impact on how financial information is aggregated and analysed (for example, profit
centre categorisation), how it is produced (for example, centralised or decentralised), who produces it (for
example, in the finance department or elsewhere), and to whom it is disseminated. Financial concerns, on
the other hand, will have an influence on organisational structure, such as the necessity for proper legal
entity structures for tax and regulatory purposes”.

• “The degree and form of collaboration and conflict between finance and other activities is influenced by
departmental structures. Departments in organisations rely on one another to achieve their goals, although
these goals may clash. Relationships between them are influenced by a variety of elements such as
dependency, overlapping roles, and conflict resolution methods”.

• “One probable trend is for financial employees to get more involved in operational activities. However,
this objective has been discussed for many years, and the degree to which it has been attained differs
greatly different organisations”.

[58]
• “Financial incentives impact the behaviour of persons involved in finance. The effect might be either
useful or dysfunctional. A crucial topic is whether compensating finance professionals based on an
organization's financial performance jeopardises their neutrality and leads to unethical behaviour”.

• “Outsourcing and shared service centres have an influence on how financial operations are carried out.
These changes include where and how financial functions are carried out, as well as management
accountability for their successful execution”.

People

“Financial personnel knowledge, abilities, interests, and attitudes, as well as their relationships with
workers in other areas, have an influence on how finance operations are carried out. The following themes
emerged:

• Staff skills have a significant role in determining the success of finance departments. A wide number of
studies indicate that the extent to which finance departments recruit, train, and retain people with relevant
skills and personal traits influences the nature and efficacy of the department's operations. The level of
diversity in the financial department will have an effect as well.

• Attracting adequately competent personnel, on the other hand, might be problematic. Skill shortages are
identified as a key concern in research, albeit it should be emphasised that most studies were conducted
before to the 2008 financial crisis. Part of the problem might be that the sheer quantity of talents and
personal attributes that are frequently stated as required for efficient financial people can lead to excessive
expectations. Furthermore, some needed human attributes, such as attention to detail and strategic thinking,
may be perceived as contradictory.

• Finance departments may have a significant impact on their own job. Finance department
employees may choose the activities they take on, how tasks are prioritised, and the resources and methods
needed to complete the work. Furthermore, analysts have suggested that finance departments that desire to
take on broader business functions must seek this aim proactively rather than waiting for the organisation
to provide them with such possibilities.

• Top management teams, on the other hand, have an important influence in how financial operations are
carried out. The connection between the Chief Finance Officer (CFO) and the Chief Executive Officer
(CEO) is very essential in defining the finance department's impact. According to studies, the functional
backgrounds of senior management team members will influence strategy and the information that is
attended to. There is some evidence that senior management teams with more finance experts are more
likely to focus on acquisitions rather than organic growth”.

[59]
Culture

“Finance is inextricably linked to organisational culture and politics. Organizational culture, power
dynamics, and politics will all have an influence on how financial operations are carried out and
information is perceived and used. Furthermore, changes in finance operations and the implementation of
new accounting procedures will have an influence on an organization's culture and may alter power
distribution. As a result, such reforms are likely to encounter opposition and be difficult to execute. For
financial operations and adjustments to be effective, proactive consideration to such aspects will be
essential. Top-level support for suggested changes is thought to be a necessary condition for success”.

Routines

“Finance tasks are inextricably linked to organisational routines. Broader organisational routines and
procedures will shape, as well as be shaped by, how financial operations are carried out.

Finance operations are part of an organization's broader routines and may reflect or clash with them.
Furthermore, financial operations can alter or be transformed by institutional factors, which adjust to
external environmental and managerial actions”.

LAYOUT OF THE OFFICE:

“Parm Engineers has a colossal manufacturing facility located at the Sonipat Industrial hub of Haryana.
The production facility is spread in a sprawling area. Parm Engineers has a production line capability of
producing 2000 units per day. In a very short span of time, Parm Engineers has developed in unit into its
production unit into a hi-tech, state of the art facility with all the latest machineries and instruments
essential for producing sophisticated and high quality rubber products”

[60]
PARM ENGINEERS

[61]
PARM ENGINEERS

[62]
 CHAPTER – 6

REVIEW OF EXPERIENCE

[63]
 KNOWLEDGE ACQUIRED

 “I have learned how to use Tally Prime software for Accounts operations of maintaining account

books, bank reconciliation among others.

 I have gained knowledge on how Accounts operations are carried out in a profit-making company.

 I have gained immense knowledge on the acceptable code of conduct and dressing code in an office

environment in order to be presentable and not to offend any colleagues.

 I have learned how to deal with the creditors or the suppliers related to various matters say asking

for more time to clear the outstanding payments.

 I have learned how to deal with the debtors or the buyers related to various matters say asking for

overdue payments pending or account statement reconciliation etc.

 I learned how the Purchasing Procedure is laid down and adopted in an organisation.

 I gained a great deal of knowledge about the electrical layout and requirements of modern

Industries.

 I met number of customers and potential customers and came to know about several marketing

tactics”.

[64]
 SKILLS ACQUIRED

“”
 “Computer skills on Microsoft packages of excel, word, internet skills the operations of the

different applications within Microsoft ERP and in addition how to operate other office equipment

like photocopying machines among others.

 Relationship-wise, I have gained interpersonal skills that have enhanced the completion of my

practicum.

 In all the tasks I performed upon completion I had to report on the final output hence availing me

with the platform of developing my Reporting skills.

 During the course of the exercise, I was able to take accurately some decisions”.

[65]
 CHALLENGES NOTICES DURING INTERNSHIP

 “Lack of enough working space in most departments which hinders employees in performing well

certain activities”.

 “The passwords given to the accounts staff are given restrictively which restricts their work”.

 Low salaries to workers such as machine operator, helpers, tailor etc.

 Poor accommodation given to helpers.

 The time period for the internship at Parm Engineers was quite short (4 weeks) for me to be able to

understand all the processes, procedures on operations of the Accounts function.

[66]
 CHAPTER - 7

CONCLUSIONS AND

RECOMMENDATIONS

[67]
 FINDINGS

 The company should conduct training as a part of organization strategy.

 The company should make pre plan of training sessions as the result shows more employees

complaint regarding sessions are unplanned.

 During research, I found that employees are in the favour that they are doesn’t enable to be

accountable & authoritative to make decision during training session.

 44% of employees are trained under off the job training method and 30% are trained under on the

job method.

 As per the views of the employees, the most of them are liked to attend the training programmed

but still less employees don’t like to attend.

 More than 50% of employees respond that training program develops them to attend the training.

 In the company, employees are given appraisal in order to motivate them to attend the training.

 In the company, training programs help in improving the employee-employer relationship which is

must for enhancing productivity & performance.

[68]
 LIMITATIONS OF THE STUDY

 The first and most important constraint is time. Because of the time constraint,

project data is not much relevant.

 “Along with the time constraint there is a mass area which was not captured within

the given time period.

 The information which the researcher collected can be biased.

 According to the needs of the people thinks differ from others.

 Perceptions of the people are different so that the information should not be much

more reliable”.

 In the present changing scenario no strategy can work in all situations, company has

to change the strategy according to its situation.

[69]
 CONCLUSION

“All in all the internship training I conducted at Parm Engineers availed me with the tools, people,

processes with which I was able to practically understand the link between what I learned in school within

the scope of Accounting and finance specifically in the areas of Accounting, procedural manuals,

verification, Bank reconciliation, salary processing, stock taking and record keeping particularly

maintenance of the Payment vouchers, purchase bills and above all maintenance of ethical code of conduct

while executing the different task and while with emphasis on how to relate with other employees in an

organization.

Management of Internship at Work Place: PARM ENGINEERS receives and manages

students of internship attachment as organization’s employees. The staff members in the Finance

department were equally my supervisors but the Accounts head along with the human resource manager

were my overall supervisors. The official reporting time for the company staff is 10:00 am and the official

reporting time for the interns was also the same and the official time for signing out for the company staff

is 6:00 pm while the interns officially were allowed to sign out any time from 5:30 pm”.

[70]
 SUGGESTIONS

o The company should conduct training programmes in the organization.

o The company should make pre plan of training sessions as the result shows more employees complaint
regarding training sessions are unplanned.
o Skilled trainers should be made available for providing training to the employees in the organization.
o “Management should conduct training program through which individual as well as organization goals
will fulfil”.
o Time period for the training period should be extended.
o The company should avoid too many gaps between the training sessions.

[71]
 BIBLIOGRAPHY

 References from company website www.parmengineers.com.

 Data from company catalogue provided by manager at Parm Engineers.
 Personal collection of Data directly at premises.
 www.google.com
 www.wikipedia.com
 Financial Management By Eugene F. Brigham and Michael C. Ehrhardt
 Bharati V. Pathak - Indian Financial System-Pearson Education

[72]
 ANNEXURES
 QUESTIONNAIRE
NAME: ………………………………………………………..
DESIGNATION: ……………………………………………...
DEPARTMENT: ………………………………………………

QUESTIONNAIRE
Question 1: Do you think that finance department is necessary to the organization?
Yes ( )
No ( )

Question 2: Does all the employees are aware about finance department and its system in the organization?
Yes ( )
No ( )

Question 3: What is the frequency of Audit of the finance department?

Monthly ( )
Quarterly ( )
Yearly ( )

Question 4: Who lead you in the organization?

Superior ( )
Peer Round Members ( )
Top Officials ( )

[73]
Question 5: The Finance Department provides several different ways for people to pay their bills. How
satisfied are you with the options for making payments?
Very Satisfied ( )
Satisfied ( )
Unsure ( )
Dissatisfied ( )
Very dissatisfied ( )

Question 6: How comfortable are you in asking for help on accounting matters?
Easy to do, No Problem ( )
Unsure ( )
Awkward ( )

Question 7: Does your company arrange seminars and training for finance department?
Yes ( )
No ( )

Question 8: Which type of errors has impact on financial transactions in the organization?
Primary ( )
Personal Biases ( )
Central Tendency ( )

Question 9: Does the organization take corrective action plans after Annual Financial Meeting?
Yes ( )
No ( )

Question 10: What are the various corrective action plan taken?
Counselling ( )
Training ( )
Monitoring ( )

[74]
Question 11: Who gives you the feedback regarding Performance Appraisal?
HR Head ( )
Departmental Head ( )

Question 12: In which form feedback is communicated to the company?

Oral ( )
Written ( )

[75]