Executive Summary
In this assignment, the author has mentioned the details of his Industrial Experience. The author has performed his summer internship at VCare Investment services Pvt. Ltd Company for 2 months from April 1 2011 to 31 May 2011. The author was designated the position of Trainee Assistant in Research and Data analyst in the finance department under the leadership of Mr. Mehul Bheda (Vice president and Finance manager). The author has also mentioned his aims, objectives and targets before joining the company and its evaluation after finishing the internship. Management report is also been added which includes all the details about the company like company details, organizational structure used by the company, motivational factors used by the company, leadership styles and different departments of the company.
Section 1
Use methods to arrange industry experience that will support the development of a management report in an appropriate service industry context
1.1
| Research and select a range of organisations that could provide you with suitable industry experience. Provide evidence of your research in the form of:-
* lists of organisations, department, contact person, outcome of inquiry/ job application * Published samples of advertisements and where they were found. |
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1. Name of the Organisation: -VCare Investments Services Pvt Ltd.Department: – Finance Department. Contact Person: -Mr. Mehul Bheda, Vice President in marketing and Human resources manager. Email address- (EMAIL) Outcome of enquiry: – Successful. Published sample of advertisement Job reference No: – 30606198 Location: – Mumbai. Role: – Accountant / Research and Data Analyst in portfolio management. Hours: – 54 hours per week, 6 working days from 9am to 6pm excluding 1 hour of lunch time. Salary : – Rs.4000/-. Pension : – No details held. Duration: – Permanent Stage of Selection : – Personal interview. Closing Date : – 26/12/10. Where was the advertisement/company foundThe company was recommend by a reference contact of mine and also it was available at www.vcareinvest.com 2. Name of the Organisation: – Shah & shah enterprise Department: – Accounts/ Finance department.  Contact Person: – Mrs. Kavita. S. Email address- (EMAIL) Outcome Enquiry: – Negative. Published sample of advertisement Job reference No: – 30606198 Location: – Mumbai.Role: – Accounts officer / Handle pay & dispatch entry. Hours: – 45 hours per week, 5 working days from 9am to 6pm excluding 1 hour of lunch. Salary : – Rs 4000/- Pension : – No details held. Duration: – Permanent. Stage of selection: – Group discussion. Closing Date      : – 02/01/11. Where was the advertisement/company foundThe advertisement was found from the Jobastra Recruitment Centre, based at Andheri. 3.Name of the Organisation: – Sun Info systemsDepartment: – Data entry of online processing of mutual funds forms/reconciliations. Contact Person: -Vaishali Chavan. Email Address: (EMAIL) (Finance Manager of Sun info systems) Outcome of Enquiry: -Negative. Published sample of advertisement Job reference No : – 30606198Location : – Mumbai.Role : – Accounts officer / Handle pay & dispatch entry. Hours: – 54 hours per week, 6 working days from 9am to 6pm excluding 1 hour of lunch. Salary : – Rs 4000. Pension: – No details held. Duration: – Permanent/part time job. Stage of selection: – Personal interview. Closing Date: – 27/01/11. Where was the advertisement/company foundThe advertisement was found from the Jobastra Recruitment Centre, based at Andheri and it was also available www.sunifosystems.com 4. Name of the Organisation: – Calibre Associates. Department: – Accounts Executive. (Tally must)  Contact Person: – Mrs. Puja Thaker. Email Address- (EMAIL) (HR manager of Calibre associates)  Outcome of Enquiry: – Negative.
Dear Keyur, Unfortunately your application for the above role was unsuccessful. I do not have anything that would suit your skills and experience at present as you are applying for 1 month intensive internship; however, I will ensure I contact you should anything come through that I feel you would be interested in! If you see any further vacancies on our website (www.sutralite.com) please do not hesitate to apply. Kind Regards Puja Thaker Human Resources Manager. 5. Name of the Organisation: – Investor Shoppe Consultancy Servicers Pvt.ltdDepartment: – Accounts Executive. (Tally must) Contact Person: – Mr. Kishore Nagarmat. (Managing Director) Email Address- (EMAIL). Outcome of Enquiry: -Negative.
Dear Keyur, Unfortunately your application for the above role was unsuccessful. I do not have anything that would suit your skills and experience at present as you are applying for 1 month intensive internship; however, I will ensure I contact you should anything come through that I feel you would be interested in. If you see any further vacancies on our website (www.investorshoppe.com) please do not hesitate to apply. Kind Regards Kishore Nagarmat. Manager. |
1.2
Explain how your chosen industrial experience would contribute to the development of a management report.Ans I started my summer internship with VCare Investments Services Pvt. Ltd company. It’s a company managing investable funds of their investors. They are into financial planning and advising investment for the client in Mutual fund and other investment products. I had started working for VCare investments services Pvt. Ltd from 1st April 2011 to 30th May 2011 and since then I have been working very sincerely for the company. I was working as a trainee assistant in Research & Data analyst department under the expert guidance of the vice president as well as manager of the VCare Investment Services Pvt. ltd. My manger is an experienced person who has the detail knowledge about the mutual funds and derivatives of portfolio management in the finance field. I always tried to be there in following his footsteps and tried to learn every bit of his values and the knowledge which he passes on to us. I had to work under the finance manager and had to co-ordinate work to the employees in the finance department as well as used to audit the financial performance of the business by myself, which used to improve my interpersonal skills as well as managing skills. My responsibilities were clearly delegate and I used effectively undertake my responsibilities which were set by the firm. My responsibility included: * Increase the client base from each regions of the city by 10%. * Audit the financial report of the firm monthly. * Update the client portfolio and recommend clients for future investment in the mutual fund scheme * To make Research report for initiating investment proposal * Monthly reconciliation of books of accounts. I performed my role to the fullest sincerity and honesty as I think it’s a best way to work and gain experience. I used to decide my work as per the client base if he/she is a bigger client then I used to extract all the knowledge regarding investment and give him/ her wide range of investment proposal. I developed my management skills and enhanced my knowledge while working as an intern in the company. This helped me to make the management report. I was able to understand all the departments of the company and make use of it in my management report. I was also able to understand the leadership style and motivational theories the management of the company used, both the qualities of the management helped me to prepare my management report. While working I also understood the organization structure which was also used in my report |
Section 2
Prepare and agree aims, objectives and targets of the management report with the appropriate manager within the selected organisation(append a copy of your job description where possible)
2.1
Set priorities and agree aims, objectives and targets for the management report.Aims: – My main aim is to increase my knowledge about how to analyse the company’s balance sheet for the investment purpose and manage people’s money for the purposes of increasing their wealth and be part of a portfolio management team. Objectives: –1. Learn to Work for the Team’s Benefit. 2. Improve my financial knowledge in the company. 3. Improve communications skills. 4. Improve my interpersonal and problem skills and research skills. 5. To increase the client base Targets: –1. Complete all the tasks as per the deadline given by the firm. 2. Ensure that I achieve my target that is 10% increase in client base. 3. To improve my problem and research and analytical thinking skills while doing my internship. 4. And also gain lot of knowledge in financial planning field. An attachment of sample job description of VCare Investments Service Pvt. Ltd. |
2.2
| Explain how the aims, objectives and targets will benefit the organisation and you as a learner?
Ans As I am a practical learner of life and belief in reality therefore I gain lot of knowledge if I am given real life case. I wanted to gain a lot of knowledge in the finance field so that why joined a financial firm. The Aim will benefit the company in terms of getting highly educated staff recruited which will look after the finance department as well as increase the client base by suggesting clients for investment proposal in the mutual fund scheme. Also a burden of vacancy in the finance depart as Research and Data analyst will be filled also the company will be benefited from having an updated client portfolio report as well as clean and neat books of accounts and simplified audit report of the firm. Objectives can help the organisation to find out the motivational tools that help staff as a boost because I adopted a good team working skills as well communication skills, which worked perfectly with all the team members and got our bonding more strengthen within each one of us as this benefited the organisation to reach their objectives and targets. Often my manager used to asked for my suggestions regarding increasing in the clients base or even Research report for initiating investment proposal for which I use to research for various areas solutions for the problems given to me which the management to solve their problem, though my suggestion were not taken for approval at times. Therefore the firm is benefited with less pressure of work. The work problems of the department was cut to a great extend because of my suggested methods for problem solving, therefore the organization definitely benefited Targets: – I adopted time management skills during the internship, it helped the organisation to reach their personal objectives and adopt new targets which may lead to the firm’s growth in the service sector. Also by having a personal target 10%+ in client base the company would be benefited in the terms of having larger customer base and providing them with best available services in order to help the company for the future growth as well as client portfolio growth. |
Section 3
Monitor and evaluate progress in achieving aims, objectives and targets, using relevant sources of information.
3.1
| Gather information to monitor and evaluate progress from a range of sources and assistance?
The above print screen of the mail shows an appreciation letter from a client who is indeed happy with the personal conversation in investing the money in mutual fund and therefore he would like to have further investment of his capital from our firm. Therefore as the author’s objective is to increase the client base by 10% and also its one of the objectives of the firm to increase the client base. Thereafter the author has drafted a financial performance of the company after the author has joined the company in the financial year 2010. During the financial year of 2010, there is an increase of 9.27% in the income of the company compared to the financial year of 2009. Whereas the expenditure of the company has reduced to 6.17% from the FY 2009 and the reason being that is the company has looked over their unwanted expense and therefore have curbed the unwanted expenses in the FY 2010. Though the company had reduced the expenditure, the company was faced with 33% of tax from the profit earned in the business; therefore the business was face higher income tax from the previous year. The profit after adjustments of the company was higher than the previous FY because the greater income incurred in the firm, which saw an increase of 42% in the FY 2010. Sales data of client will added later as the concerned of authority is busy |
3.2
Evaluate progress against original aims, objectives and targets (set in 2.1)The main aim of doing my internship was to gain knowledge in the field of finance as well as analyse the company’s balance sheet for the investment purpose and manage people’s money for the purposes of increasing their wealth and be part of a portfolio management team. Therefore during the internship as an trainee assistant in Research & Data analyst I was able develop and gain my knowledge in the field of finance as well as in the field of mutual funds. As I was a trainee assistant in the Research and Data analyst, I was able to develop my communications skills as my job was to look for new possible areas of investment therefore I had to talk to different fund managers on their views on the stock market, economy and company results etc. The first week of my internship I had to understand the working style of the firm, their client needs, talk to the fund managers about the possible This helped me to understand the working of the firm and style of approaching clients as well as the functioning of my department. Then I also use to conduct research for my department as my department is itself portrays research and data analyst where we need to research new possible areas for investment proposal as a result of doing this activities I improved my research skills. Thereafter also my job was also to take up and look after the company’s auditing of the financial performance therefore any problems in the auditing of the firm side by side I used to improve my problem skills. |
Section 4
Write a management report which determines conclusions that are consistent with your aims, objectives and targets, identifying data and information to support the conclusions. Present the report in an appropriate format outlining the research undertaken and analyse the outcomes.(Word limit: 2000)
History: –
As the name of the organisation itself is indicative of its intention, VCare offers its clients, utmost professional financial advice and service. The comfort zone thus created between them and their clients have smoothened the process of achievement of their client’s financial goals and growth in the long term.
Their clients have shown immense faith in their work processed and that reflects in their Asset under Management. The figure is currently around Rs. 500 crore. The company was established in the year 2004 by Mr. Piyush Shah and since then VCare investments services Pvt. ltd taken rapid strides in the field of investment services in Mumbai since its inception. VCare investments services Pvt. Ltd was incorporated in May 2004 at South Mumbai by the CEO Piyush Shah. Down the line, VCare investments services has acquired many credentials in the mutual fund sectors, they have been recognized as “Preferred Partners” for the following Asset Management Companies (AMC):
* Reliance mutual fund.
* Franklin Templeton investments.
* HDFC mutual fund.
* Kotak mutual fund.
* Chola mutual fund.
* LIC Insurance Corporation of India.
Therefore they are increasing their presence and establishing VCare investments services Pvt. Ltd as the number financial and investment advisors. They have parent branches across the regions like Investor Shoppee services Pvt. ltd in Bangalore as well as Invest care services Pvt. ltd in Baroda in Gujarat, which shows that they are increasing their presences as well as spreading the business all over India.
Mission and Vision Statement: –
Vision statement of VCare investment services Pvt. ltd is to assure the deliverables of the highest quality to the clients like recommendations of an investment, entry/exit decision and items related to their personal investments.
Mission statement: – To become the domestic market leader by providing the utmost professional guidance in investment products sector as well as financial advisement sector.
“Mission and vision (2010) [online] (updated 24th August 2010) Available at: http://www.vcareinvests.com [Accessed 24th may 2011].”
Different Departments: –
As VCare investments services Pvt. ltd is in the tertiary sector where they provide professional services to its customers have 4 departments to run the organisation where each departments have being specific targets and objectives in order to run the organisation successfully. The 4 main departments of VCare investments services Pvt .Ltd are:-
Accounts/ Research and data analyst department.
The role of the accounts department is mainly to look after the books of accounts, petty cash books, and financial statements of the company, cash flow statement, and investment appraisal and with that make suitable financial conclusion.
The role of the Research and data analyst is mainly to audit the financial statements as well as increase the client base from different regions of the city. Make research report for initiating new investment proposal. The author was working in the research and data analyst as a trainee assistant. There were 10 people in the research and data analyst department. The team use to look after the financial statements , auditing, making research reports for new area of investments proposals.
While working with this department I learned about the global automobile market, I improved my communication skills by interacting with the team member, I improved my time management skills by completing all the tasks on time, I improved my problem solving skills by assisting the finance manager by giving him suggestions for improving the company’s financial records and as well as and proposals for new investment.
Human Resource Department
This department looks after all the recruitment, training, health & safety and pay negotiations with unions / workers.
Marketing Department
This department conducts the marketing function for the company and carries out market research for the company. It also organizes advertising and product promotion for the company.
Sales Department
This department looks after the sales of the company’s product to customers.
Organisational structure: –
Wilson and Rosenfeld (1990, p.215) says, “The established pattern of relationships between the component parts of an organisation, outlining both communication, control and authority patterns. Structure distinguishes the parts of an organisation and delineates the relationship between them”. Organisations are structured in a variety of ways, dependant on their objectives and culture. The structure of an organisation will determine the manner in which it operates and its performance. Structure allows the responsibilities for different functions and processes to be clearly allocated to different departments and employees.
Bartol and Martin (1994, p.283) says, “The Formal pattern of interactions and coordination designed by management link the task of individuals and groups in achieving organisational goals. All companies that are available today have a structure of the positioning of its employees. It shows how work is divided and how the co-ordination works between the members of the organization. The structure also shows how the tasks and responsibilities will be delegated and the way of communication is done from the top level of management to the lower level of management.