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An Organization Study on TIP TOP Furniture PVT LTD

Chapter: 1 INTRODUCTION

An Organization Study on TIP TOP Furniture PVT LTD

AN ORGANISATIONAL STUDY ON TIPTOP FURNITURE PVT LTD

1.1: INTRODUCTION
In an environment of rapidly escalating competitive challenges, every company has to invest across the value chain to achieve world-class competitive capability in each of the businesses in its portfolio. These strategic interventions results in progressive transformation of traditional organizations into internationally competitive organization, where the focus is superior value for all stakeholders. Each business within portfolio is continuously engaged in upgrading competitive capability to effectively address growth challenges in the fast globalizing Indian market, and over time in the world markets. The vision of every company is now apparently is the creation of unique business models that foster international competitiveness of not only its business but also the entire value chain of which it is a part. This has made functioning of each organization much complex than the olden days.

Systematic and organized approach is indispensable to meet this challenge of complexity. Every organization cannot do the same since it is costly and time consuming. All these leads to the emergence of a modern organization concept which relies on identifying and grouping the work to be performed, defining and delegating responsibility and authority , and at last establishing relationships for the purpose of enabling people to work most effectively together in accomplishing objectives. The success of a firm is determined by how far they are effective in these aspects.

An Organization Study on TIP TOP Furniture PVT LTD

1.2: OBJECTIVES OF THE STUDY

The objectives of the study are explained as under. They are 1. Understand the history and objectives of the firm. 2. Study, the organizational structure of Tip Top Furniture Pvt Ltd. 3. To understand all the functional areas of Tip Top Furniture Pvt Ltd. 4. Evaluate accounting procedure and book of accountant attached and maintained by the firm. 5. Apply the SWOT analysis, Porters 5 forces model and Mc kinseys 7s to understand the competitive position of TIP TOP Furniture. 6. Offer suitable suggestions for the improvement Furniture. of the performance of Tip Top

1.3: LIMITATIONS OF THE STUDY


The limitations of the study are described as under

1. Time is the one of the limitation, so the intensive study of the concern is impossible. 2. No businesses reveal every business secrets. So only available information are used for analysis. 3. The study period is for 45 days. Hence the data cannot be compared to the longer life of the company.

An Organization Study on TIP TOP Furniture PVT LTD 1.4: SCOPE OF THE STUDY
The study describes the history, genesis, activities, and achievements of Tip Top Furniture Pvt Ltd. Kottakkal. This study covers information on the present organizational system of Tip Top Furniture Pvt Ltd. This information can help in better understanding the firm, its policies and strategies. This study gives hints on how effectively an organization can design its functional areas like marketing, finance, HR practices, operations and supply chain management and how they can be constructed to improve organizational effectiveness.

1.5: METHODOLOGY OF THE STUDY


The study was based on primary data and secondary data

PRIMARY DATA
Primary data were collected through the repeated personal interaction with the authorities of Tip Top Furniture Pvt Ltd. It was also collected through the method of careful observation and interaction with the employees, customers and officers of the organization.

SOURCES OF SECONDARY DATA

The secondary data were collected through the careful study of the extracts of the accounts of the company and some of the basic information about the company was collected by browsing the company website, www.tiptopfurnishing.com.Some other information related to the project were also downloaded from the internet.

An Organization Study on TIP TOP Furniture PVT LTD

Chapter:2 INDUSTRY PROFILE

An Organization Study on TIP TOP Furniture PVT LTD

2.1: PROFILE OF FURNITURE INDUSTRY


All the companies and activities that are involved in the design, manufacture, distribution, and sale of functional and decorative objects of household equipments are known as furniture industry.Furniture has existed throughout history for many reasons. Obviously, the first is that of function and practicality. Chairs were designed to be sat upon; tables and stands for putting things on; beds and couches to rest upon; chests and wardrobes to store things in. Historians contend that furniture also played a very important role in indicating ones social status. Comfort and practicality often took a backseat to form and beauty. Only within the last century has technology had a drastic effect on furniture making techniques and even materials than ever before. Everyone has their favorite piece of furniture. Ones choice may be inspired by form, function, comfort, craftsmanship, price tag or a combination of any of these. The furniture industry in India is considered as a non -organized sector, with handicraft production accounts for about 85% of the furniture production in India. The furniture sector in India only makes a marginal contribution to the formation of GDP, representing just a small percentage (about 0.5%). Among all the types of furniture used, office furniture segment is the one that boasts the most important companies, both from the point of view of size and of the technological innovation of the production. The furniture industry employs a total of around 300,000 workers. The total production of furniture in 2001-02 (according to Annual survey of Industry) was USD 3580 million.

An Organization Study on TIP TOP Furniture PVT LTD 2.2: OVERVIEW OF FURNITURE INDUSTRY
Furniture is the name given all movable and immovable accessories provided for rooms or other areas of any structure from cottage to place or religious edifice. It may be made from a wide range of materials but wood and metal are usual. What is known about furniture stretches back to the ancient Egyptian and progress with some breaks to the present day. During these long span basic forms, such as chair, table and bed were evolved and passed on to the succeeding people and culture.

2.3: HISTORY OF FURNITURE


Modern furniture design after world war was first were of three kinds functionalist modern, transactional modern and commercial modern. The commercial modern became associated with the extra values which commercial furniture often offered by the manner in which it was advertised. All furniture design was influenced by the social and economic trends of the era, formal living standard declined, and mechanization of the household labor expanded. Living spaces shrank, particularly in height and home entertainment became important after world war second especially people married at a younger age. As total population growth accelerated and generally raising standard of living was enjoyed by a vastly enlarged middle-income group. Furniture become smaller, lighter, easier to maintain and more widely distributed The word furniture comes from the French word FURNITURE which means equipment. In most other European language, however the corresponding word (French Meoble, Germany mobile, Spanish Meoble, Italian mobile) is derived from the Latin adjective mobiles, meaning movable.

An Organization Study on TIP TOP Furniture PVT LTD


The continental term described the intrinsic character of furniture better than the English word. To be furniture it must be movable. In general furniture produced in the last 5000 years has not under gone innovative development in any profound sense. An Egyptian folding stool dating from about 1500 BC fulfills features as a modern one. Only in the mid-20th century with entirely new synthetic material such as plastic and completely new fabrication, techniques such as casting have there been signs of a radical revision of the concept of furniture The global furniture market can be broadly categorized in to four categories domestic furniture, Office/corporate furniture, hotel furniture and furniture parts. Globally, domestic furniture accounts for 65% of the production value, whilst corporate/office furniture represents 15% hotel furniture 15% and furniture parts 5%. According to a World Bank study, the organized furniture industry is expected to come from the rapidly growing consumer markets of Asia, implying significant potential for growth in the Indian furniture

2.4: WORLD FURNITURE INDUSTRY


Furniture industry has changed over the years. It no longer restricts itself to a production of a chair or a table or a bed but today it includes manufacturing of a range of furniture and home furnishings and designed interiors which spell class and elegance. There is a boom time for furniture industry. Every country sports a string of furniture showrooms of all kinds and sizes. Changing lifestyle, disposable incomes, economy growth, increasing migration to urban areas have all contributed to the demand for furniture and in turn the growth of the furniture industry as whole. Furniture industry comprises not only the production of a wide range of products related to office, living room, bedroom, kitchen, garden, school furniture but also mattresses, furnishings, 8

An Organization Study on TIP TOP Furniture PVT LTD


upholstery, parts of furniture etc. A wide variety of raw materials are used in production of furniture like wood, rattan, plastic and metal and more recently silver. Including various varieties of wood, wooden furniture is the major production and exports of the furniture industry in almost every country.

2.5: CHARACTERISTICS OF THE FURNITURE INDUSTRY

Furniture manufacturing worldwide forms a regionally centralized competition pattern under the clustering effect.

The furniture industry is both an organized and a non-organized sector. Utilization of skilled and unskilled workers. Utilization of handcrafted tools, machines and CAD/CAM for manufacturing and designing.

Source of employment for rural workers. Employment is spread across many sectors showing the diverse nature of the industry and a broad product range.

Consumer expectations and purchasing behaviors have marked regional variations.

2.6: INDUSTRY TRENDS


As the world economy is developing fast in the past 10 years, the furniture markets have opened up more and the world furniture industry has been growing fasttraditional furniture making countries continue to firmly take up over 70% of the global market. This is possible because of their long established production capacity, advancement in science and technology, solid funds and rich management experiences. 9

An Organization Study on TIP TOP Furniture PVT LTD


Meanwhile, developing countries and regions like China, Southeast Asia, Poland and Mexico, with China taking the lead, have built upon their respective competitive advantages and gradually have covered almost 30% of the world market. The furniture industry in such countries is developing strongly and showing great potentials. The European Union furniture industry accounts for about half of the world's furniture production. The production value of this industry in this region is around 82 billion. Considered to be a labor-intensive industry it provides employment for around 1 million people. Among the European countries, Germany takes the lead as the largest furniture producing country, accounting for about 27% of total EU production. This is followed by Italy (21.6%), France (13.5%) and the UK (10.4%). The Canadian Furniture Industry is the 5th largest exporter of furniture in the world. The major furniture producing countries in South East Asia are Philippines, Indonesia, Malaysia, Singapore, Thailand, Korea, Taiwan and India. In the context of global furniture trade, Asia shows healthy signs of growth with respect to its other international competitors. Asian furniture has always been popular in developed countries like USA, Europe and Australia.

2.7: FURNITURE EXPORT INDUSTRY


Furniture is one of the most basic requirements of every home and every organization, regardless of size or worth. This fact also makes furniture one of the most solid industries to invest in, whether it is through manufacturing or exporting. Internationally, the trend is a distinct tilt towards furniture exports, since more and more people are exposed to international styles and are willing to spend money on getting exclusive designs into their drawing rooms or lobbies.

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An Organization Study on TIP TOP Furniture PVT LTD


In India, there are two distinct trends. One is to get furniture imported from Europe, especially Italy. The other is a return to traditional handcrafted designs or antiques. Simultaneously, there is also an increasing demand for handcrafted furniture exports from India. Furniture is traditionally wooden, though most regions have their own special preferences. Tribals use bamboo, for example, while Kashmir is use walnut. South India was known for ebony and rosewood, and Rajasthan is famous for latticework and painted, collapsible chairs. In offices, there is a demand for plywood surfaces, plastic or metallic chairs and tables, in combination with glass or wood. In homes, the drawing rooms are mostly filled with upholstered furniture, like sofas. Handicrafts are mostly cottage or small-scale industries, and they contribute to over 80% of furniture produced in India. Besides, the furniture sector in India is not very organized; most craftsmen have their own small shops, with customers paying a visit to order whatever they like. Perhaps this is one reason why India is low on the list of furniture exporters (according to one survey, India ranked 48th in year2000). Part of the reason could be that local artisans are not aware of international trends and tastes, making exports difficult Furniture industry in India has started growing in a vast manner. Furniture being a necessity its need have risen to a large extent. Furniture industries have grown in the states of Delhi, Mumbai, Kerala, Uttar Pradesh and Tamil Nadu. Now days they have started developing the industry and have more of premium products. Heavy competition is there in this field. Furniture companies must look towards the important and potentially giant Indian consumer markets since all world leaders in different industrial sectors have already established in their production in joint venture in India. 11

An Organization Study on TIP TOP Furniture PVT LTD 2.8: MARKET SIZE
Indias total population is near 1000 million people, of whom about 80 million live in 8 metropolitan middle cities. There are around 40 million consumers in the upper class and upper class. Presently the Indian market size of furniture is about US$ 2 billion and almost 85% of total sales are realized in tidy workshops owned by carpenters. There are only a few companies which manufactures and market brand furniture. Since furniture in India is still sold mainly as noname product and consumers do not express any brand preference, there is a tremendous sales potential for leading companies. According to infinitum Management Services the household segment absorbs 65% manor local manufacturing companies are to be found more in the office furniture segment rather than in home furniture.

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An Organization Study on TIP TOP Furniture PVT LTD

Chapter: 3 COMPANY PROFILE OF TIP TOP FURNITURE PVT LTD

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An Organization Study on TIP TOP Furniture PVT LTD INTRODUCTION ABOUT THE COMPANY

3.1: COMPANY PROFILE

Name of the Firm Place Date of Registration Nature of Organization Registration Number Industry Category Main Products Status of Firm Power Used Number of Employees TIN Number CST Number Total Investment :

: TIPTOP FURNITURE PVT LTD : Kottakkal, Malppuram, Kerala

: 19/09/1998 : Private Limited Company : : : : : : : : 8179 Manufacturing Wooden furniture, Handicraft 551 Electricity from KSEB 300 32101038505 321010138505-C 15000000

Tip Top Furniture Private Limited has become landmark in history of Kottakkal, Malppuram. Tip Top Furniture Private Limited is a golden feather in the crown of the nation as it is biggest kind of in Kerala.

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An Organization Study on TIP TOP Furniture PVT LTD


This organization established in 1979. It was gradually expanded as small scale unit through the years of 1982 to 1990 and later in the year 1994 it was incorporated under the Indian companys act, there by affecting phenomenal in the nature of the ownership of the company. The main objective of the company is to carry on the business of export, manufacturing, assembling and in all type of wooden furniture having at showroom at Kottakkal and is largest wooden furniture showroom in India. Tip Top is today one of the largest manufactures of wooden furniture. They have very good demand for their products in spite of huge price tag. Tip top is today one of the leading furniture giant which believes in loyalty and hard work. Today the company has grown in to a position of leadership with a very short span of time. It is in deeded a matter of wonder and greater appreciation that tiny furniture shop emerged the current status of large multi storied and multi-dimensional one. An eight storied building with a floor area of 35000 square feet accommodating the registered and sales cum showroom is right by the side of the national highway 17 Kottakkal. Tip Top Furniture Private Limited company incorporated under the companys act 1956. The main objective of the company is to carry on the business of export, manufacturing, assembling and in all type of wooden furniture having at showroom at Kottakkal and is largest wooden furniture showroom in India. Tip Top group is dealing in furniture business since 1982. The major competitors are Royal Global Furniture, Damro Furniture, Classy Furniture and Masco Furniture.

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An Organization Study on TIP TOP Furniture PVT LTD 3.2: ORIGIN AND DEVELOPMENT
Mr. K.T. Siadalavi started Tip Top Furniture Pvt Ltd as a tiny furniture trading unit in 1979.Currently K.T. Siadalavi is the managing director of the company. It was gradually expanded as small-scale unit through the years 1982 to 1990 and later in the year 1994 it was incorporated under the Indian companys act, there by affecting a phenomenal change in the nature of the ownership of the company. At present it continue-e to be a private limited company under the visionary stewardship of the managing director, K.T. Siadalavi.

3.3: PRESENT STATUS OF THE COMPANY


Tip Top Furniture Pvt Ltd has become a land mark in the history of Kottakkal. An institution which had been instrument in projecting the name of Kottakkal to the forefront of the furniture industry of the world apart from its unchallengeable supremacy in the field of Ayurveda. It is deeded a matter of wonder and greater appreciation that is a tiny furniture shop emerged the current status of a large-multi storied and multi-dimensional one. An eight storied building with a floor area of 35000 square feet accommodating the registered office and sales cum showroom is right by the side of the national highway 17 at Kottakkal. The magnificent building is constructed that anyone who passes by the highway couldnt resist the impulse of watching it, so captivating and enthralling is the appearances. No doubt a large amount of pain should have been taken bringing up this current position. It is nothing but dedicated and committed vision of team led by Managing Director Mr. Siadalavi who redefined the scope of marketing furniture from a local circle to global arena, crossing, international frontiers.

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An Organization Study on TIP TOP Furniture PVT LTD 3.4: ORGANIZATION AND MANAGEMENT
Organization refers to a group of people who works together in a structured way to achieve specific goals as objective. On the other hand, management is the practice of consciously shaping the growth of organization. Tip Top Furniture is Private Limited Company, in which all equity shares of the firm are distributed in the hands of 38 members. The entire management of the firm is in the hand of board of directors The board of directors consist the following members Mr. K.T. SAIDALAVI Miss A. THITHUMMA Mr. K.T. SULFEEKARALI Mr. K.T ASKARALI Mr. YASAR ARAFATH Managing Director Directors Director Director Director

The managing director Mr. K.T. SAIDALAVI is also the CEO of Tip top Furniture Pvt Ltd.

3.5: COMPANY BACKGROUND:


Tip Top Furniture Pvt Ltd. is a private limited company incorporated under the companys act 1956. The main object of the company is to carry on the business of export, manufacturing, assembling and dealing in all type of wooden furniture, having showroom at kottakkal, which is largest wooden furniture showroom in India. Tip Top group is dealing in furniture business since 1979. 17

An Organization Study on TIP TOP Furniture PVT LTD 3.6: LOCATION:


Regd. OFFICE AND SHOWROOM The main showroom and head office are situated by the side of the national highway 17, the city Kottakkal. The sale cum-showroom is a well-furnished eight storied building having a floor area of thirty five thousand square feet. The magnificent building is also constructed that any one passes highway could not resist the impulse watching it, so captivating and enthralling is the appearance. The administrative office and accounts department are located in the ground floor.

3.7: PRODUCTION CENTER


The main production Center of Tip Top Furniture Pvt Ltd is situated near Chapanangadi, A remote area where the company can eliminate the waste very easily the production center is well established which areas the least technology for the production process.

3.8: BRANCHES
Trivandrum Kottayam Ernakulum Kunnamkulam Kottakkal Calicut Kannur Karunagapally

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An Organization Study on TIP TOP Furniture PVT LTD 3.9: FRANCHISE


Kollam Cherthala

3.10: MISSION, CORPORATE OBJECTIVES


Tip Top Furniture Pvt Ltd is dedicated to keeping a definite and distinct focus on products development, services and training. Tip Top addresses all its business in a holistic way. The corporate mission of Tip Top is to achieve and maintain customer satisfaction through sustained quality in the products and services at all time.

3.11: OBJECTIVES
To spread the operations globally where Tip Top is new, by developing a mix of international markets and businesses. Maintaining the highest quality and be a leading manufacture in the industry. To maintain technological leadership through continuous efforts to update product technology and manufacturing methods. To managing with a global perspective. To maximize productivity.

3.12: RECOGNITIONS

VANIJYA RATHNA AWARD of 1998-1999 by southern vanijya federation

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An Organization Study on TIP TOP Furniture PVT LTD


Award by CONSUMER PROTECTION CENTER (KERALA) for outstanding contribution in design and quality Award by KOTTAKKAL ARYAVYDHYASHALA for the best interior decorated arc in their centenary celebration 2002 KERALA STATE SMALL SCALE INDUSTRIES KOTTAKKAL wings award for the ideal entrepreneur 2001 Best entrepreneur SAMATHI 2001 award by KERALA VYAPARA VYAVASAYA YEKOPANA

Memento by AL- AZER YOUTH CENTER KOTTAKKAL for congratulating vanijyarathna award

To honor vanijyarathna award given by POURA SAMRAKSHKA SAMITHI KAIRALI- a unit of handicraft development corporation of Kerala limited, Had certified that the products manufactured by TIPTOP are maintaining hand carved hand crafts, almost 100% of the ornaments works to create artistic nature is made by manual labor only

Award for the best stall exhibition held in NSS ENG.COLLEGE

3.13: FUTURE PROSPECTS AND GROWTH PLANS


Tip top Furniture Pvt Ltd is planning to start business in gulf countries their business in Kerala is reaping huge profits, so they want to establish their units abroad they are also planning to strengthen their exports.

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An Organization Study on TIP TOP Furniture PVT LTD


Tip top Furniture also wants to increase the economic growth and industrial development of the state.

3.14: BUSINESS OPERATION


Tip top Furniture Pvt Ltd is very popular worldwide organization. Its fame and popularity does not only exist in India alone but throughout the world. The furniture supplied from Tiptop adorns the palaces of many sultans of the Gulf as well as many VIPs of Europe, UK and US. Tiptop is associated with classic and value added design furniture created out of superb ethnic craftsmanship at spectacular best which is acclaimed both in the domestic and international market, particularly in the gulf countries. Tip top Furniture Pvt Ltd. has introduces a new unit in export and government has approved it.

3.15: PRODUCT PROFILE


Tip Top Furniture Pvt Ltd. has spectacular range of furniture that transforms the house in to luxurious home. In this chapter a brief sketch on the product ranges, the product features, prices and items of manufacture are made. Tip Top Furniture Pvt Ltd. Is one of a never ending treadmill of progress by incorporating the latest trend in the market, constantly probing its design strategy and fine tuning its craft Tip Top Furniture Pvt. Ltd. remains committed to improving its range so that costomers have the latest for theirhouse.

3.16: MAJOR PRODUCTS


Tip Top Furniture Pvt Ltd Is associated with classic and value added design furniture created out of superb ethnic craftsmanship spectacular best which is acclaimed both in the domestic and international market, particularly in the gulf market. They make their products of 21

An Organization Study on TIP TOP Furniture PVT LTD


the best Indian teakwood and rosewood that last for generations all their products are available in different model. The specialty about their furniture design is its of traditional and modern furniture exclusively made by hand. The various types of products are 1. Sofa 2. Divan cots 3. Dressing tables 4. Tea poi 5. Dining table 6. Cots 7. Cutlery shelf 8. Wardrobe cabinets 9. Chairs 10. Stools 11. Study tables 12. Doors 13. Side box 14. Mirror frames 15. Book shelves 16. Kitchen units 17. Stair cases 18. T.V stand and units 19. Office and computer tables 20. Partition and paneling 21. Antique clocks 22. Phone stands 23. Flower stands and other fancy items The registered brand name of their product is Alpine Regalia the major products are

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An Organization Study on TIP TOP Furniture PVT LTD

PRODUCT NAME

MATERIAL USED

NO: DESIGN

SEMENTATION PRICE RANGE

Settees

Rosewood/teak

More than 10

Middle, Muddle NRIS

Upper, Rs18,000class& 3,50,000

Divans cots

Teak& Rosewood

According to ,, customer need

Rs16,000100,000

Dressing tables

Teak& Rosewood

According to ,, customer need

Rs20,000-90,000

Coffee chairs

table ,,

,,

,,

Rs8,000-30,000

Dining table & ,, chairs

,,

,,

Rs35,0003,50,000

Cots

,,

,,

,,

Rs10,0002,00,000

Monarch

Teak, Veety

Special material

Special personality

Rs1,90,0002,00,000

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An Organization Study on TIP TOP Furniture PVT LTD VISION AND MISSION OF TIP TOP FURNITURE PVT LTD.

3.17: VISION :
Tip Top Pvt Ltd providing home furnishing interior decoration and life style through continuous reinvestment in our valuable customers, our passionate people our loving society and spirituality being

3.18: MISSION :
Unlimited and continuous creativity Customer satisfaction achieved through customer service excellence program by putting customers priority first and build their trust Continuous improvement in all aspect of enterprise Applying up to date information technology as well as production technology in all aspects of enterprise No compromise on product quality as well as customer service quality World class products with competitive price achieved through constant companywide efficiency Leadership in facing global competition through trained human resource

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An Organization Study on TIP TOP Furniture PVT LTD 3.19: ORGANIZATION STRUCTURE OF TIP TOP FURNITURE PVT LTD

Board of directors

MD

Personal manager

Marketing manger

Accounts manger

Production manger

Purchase manger

Office asst /clerks

Territory manager

Executives

Supervisors

Store keepers

Telephone operators

Sales executive

Clerks

Office staff

Clerks

Security

Carpenters/polishe rs/labors

Unskilled labors

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An Organization Study on TIP TOP Furniture PVT LTD

3.20: MAJOR COMPETITOR

Mr. K T Saidalavi started Tip top Furniture Private Limited Company as tiny furniture trading unit in 1979 with an initial capital of around 20 lakhs. It was gradually expanded as small unit through the year 1982 to 1990 and later in the year 1994, it was incorporated under company act. 1996 the present capital of the company is around 1.8 crores. Tip Top Furniture Private Limited enjoys a market share of forty percent in the market area. The major competitors are Royal global furniture, Damro Furniture, Classy Furniture and Masco Furniture, the graphically representation is given below.

Figure no: 1 Major Competitors

TIP TIP CLASSY DAMRO OTHER

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An Organization Study on TIP TOP Furniture PVT LTD

Chapter- 4 DIFFERENT DEPARTMENTS/DIVISIONS OF TIP TOP FURNITURE PVT LTD.

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An Organization Study on TIP TOP Furniture PVT LTD

FINANCE DEPARTMENT

4.1: SYSTEM
Accounting department is fully computerized and this department uses tally software package.

4.2: STRUCTURE OF FINANCIAL DEPARTMENT

ACCOUNTS MANGER

EXECUTIVES

CLERKS

4.3: ACCOUNTS AND ADMINISTRATION


Finance is that administrative area or set of administrative functions in an organization, which is related to the arrangement or cash and credit so that the organization may have the means to carry out its objectives as satisfactory as possible.

Administrative cum accounts department is situated in the fourth floor of the showroom. The managing director is the top executive of the administrative system.

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An Organization Study on TIP TOP Furniture PVT LTD


In the accounts department there are three officers. The company follows double entry book keeping system and the accounting section is fully computerized.

The company keeps the following books of accounts, journal, ledger and cash book. In fully computerized accounting system there is no need of manual posting only transaction are entered and posting, balancing etc. are done by the computer itself.

4.4: CAPITAL STRUCTURE


Capital structure of the firm refers to the making up of its capitalization and it includes all long term and short term capital and borrowed funds (debts). The capital structure of the company is very important because of the profitability and financial strength of the firm depends upon the capital structure. The main components of the Tiptop furnitures capital are as follows,

1. Share capital: equity shares of RS 10 each 2. Loan from State Bank of India (secured) 3. Vehicle loan from ICICI Bank

The major portion of the capital provided by the equity shares. The company owns four vehicles. The equity share holders of the company loan to meet the specific requirements of the firm.

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An Organization Study on TIP TOP Furniture PVT LTD

KEY TRENDS

YEAR 2003-2004 2004-2005 2005-2006 2006-2007 2007-2008 2008-2009 2009-2010 2010-2011

PURCHASE 19064363.36 20908596.38 23145271.34 36654347.64 41485332.30 54562385.08 73479891.89 94908571.00

SALES 21954877.25 27128627.56 27652464.56 40515579.73 49437690.39 66638665.44 79485709.09 109590741.00

GROSS PROFIT 4333258.95 6495739.17 5304635.41 6577825.75 10583360.30 9682413.20 9021006.59 14016752.00

NET PROFIT 239125.74 1157955.03 265619.54 1125936.54 1455420.27 1576639.81 1110744.26 896743.00

GROSS PROFIT RATIO 19.74 23.94 19.18 16.24 21.41 14.53 11.53 12.79

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An Organization Study on TIP TOP Furniture PVT LTD HUMAN RESOURCE MANAGEMENT 4.5 STRUCTURE OF HUMAN RESOURCE DEPARTMENT

PERSONAL MANAGER

OFFICE ASSISTANT

TELEPHONE OPERATOR

SECURITY

With the increase in the size of business, manpower has become the most vital factor in business. Personal management is a specialized branch of management that deals with people. Human beings are principle asset of the business or industry. People are main subject matter of personnel management and its business to educate employee, managers, line and staff and supervisors to place high value of the dignity and individual human being.

Personnel management is the part of total management of Tip-Top Furniture Pvt Ltd, which specifically deals with human resource in respect of

a) Recruitment b) Training and development c) Remuneration and wages

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An Organization Study on TIP TOP Furniture PVT LTD

Tip-Top Furniture considers their worker as an asset of the organization. The workers are grouped in to two.

WORKERS

OFFICE WORKERS

FACTORY WORKERS

4.6: FACTORY WORKERS


In the factory, workers are widely spread in the various sections. In each section there is one foremen and supervisors all workers are supervised under the control of factory manager. The labor classified into four groups they are:

GROUPING OF LABOUR FOREMAN & SUPERVISORS SKILLED LABOUR SEMI SKILLED LABOUR UNSKILLED LABOUR

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An Organization Study on TIP TOP Furniture PVT LTD

4.7: RECRUITMENT AND SELECTION


Recruitment is mainly in two ways:

RECRUITMENT

INTERNAL

EXTERNAL

Internal
The internal recruitment means that fill the vacancies from within the organization by promotion and transfer etc.

External Recruitment
External recruitment includes advertisement, personal contacts, recommendation and labor contact. The qualified, experienced personal are made available through advertisement. This method usually applied for selecting the office staff, supervisor staff etc. In Tip-Top external recruitment mainly does newspaper advertisement or personal contacts are used for this purpose. The applicants are given practical tests to assess their skill and if satisfied they will be kept under probation for one year. After the probation period they are permanently appointed in the factory.

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An Organization Study on TIP TOP Furniture PVT LTD

4.8: TRAINING AND DEVELOPMENT

The selected candidates are to be given training in the various jobs of the different department and sections. At the end of training period the trainees must be capable of taking works as per conditions.

4.9: WAGES AND SALARY ADMINISTRATION


The workers are remunerated on the basis of hourly rate, Rs.20-50 per hour according to their work, speed and accuracy. The skilled workers can get Rs.400-500 per day. The semi-skilled labor can get Rs.300-600 per day; the average labor can get Rs.250-500 per day. All payment is made on monthly basis.

4.10: OFFICE WORKERS


Office workers are classified into three. 1. Accountant Staff 2. Clerical Staff 3. Store Keeper

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An Organization Study on TIP TOP Furniture PVT LTD

PURCHASING DEPARTMENT
The principle functions of the purchasing departments are:

1. Locating and selecting sources of supply for materials or service required. 2. Interviewing suppliers, represent arranging conference. 3. Requesting for quotations and conducting negotiation. 4. Procuring material and service when required. 5. Verifying quality and quantity received. 6. Approving invoices and handling rejection and adjustments. 7. Maintaining records necessary for proper operation of its function. 8. Keeping informed on business trends, assembling and analyzing. 9. Pertinent, data on market supply, demand, price trends etc.

4.11: STRUCTURE OF PURCHASE DEPARTMENT

PURCHASE MANGER

STORE KEEPER

CLERKS

UN SKILLED LABORS 35

An Organization Study on TIP TOP Furniture PVT LTD

4.12: METHODS OF PURCHASING


Methods of purchasing vary according to the nature of demand in the plant and condition in the market in which goods are to be bought. There are seven principal methods of purchasing are as follows.

1. Purchasing by Requirement
Purchasing by requirement means that no purchase is made until need arises and then only the quantity which is necessary to meet the need. This method applies principally to emergency requirements or to goods used to infrequently that they should not be carried in stock.

2. Purchase for a specified future period


Purchase for a specified future period is standard purchase for buying goods regularly used but not in great quantity and on which price variations are negligible.

3. Market Purchasing
Market purchasing is defined as purchase according to the condition of the market to take advantage of price fluctuations, rather than in strict accord with a prearranged program or for a specified period.

4. Speculative Purchasing
Speculative purchasing consisting in buying, when the market is low, more than can be possibly used in manufacturing with the idea of later reselling much of the material at a considerable price advance to users who may come on the market when the price is high.

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An Organization Study on TIP TOP Furniture PVT LTD

5. Contract Purchasing
All purchasing is by contract, but the term contract purchasing is applied to that special type of contract, which falls for deferred delivery over a period of time. Though this medium advantage can be taken at low price of materials, which are in effect at the time of placing the order while providing for delivery of the material to meet the estimate future requirements. Contract purchasing often provides the means of assuming a continuous flow of material in to the plant.

6. Group Purchasing of Small Item


There are number of small items, so prevail in value of the goods purchased. Arrangements may be made to send orders for all such item to some dealer who agrees to handle the bill them a fixed percentage profit above dealers cost.His cost records being open to inspect by the buyer on demand.

7. Scheduled Purchasing
Essentially this plan of giving suppliers approximate estimate of purchase requirement over a period of time. This enabling them to anticipate the receipt of orders and be prepared to fulfill them when they arrive.

4.13: PURCHASE PROCEDURE


Marketing department prepares their target about the products to be marketed. The production department prepares their target keeping in view of the marketing target. This should be sent to the material department and they get information about the requirement of these two departments. Thus the material department gets an idea about the materials to be purchased.

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An Organization Study on TIP TOP Furniture PVT LTD

Chart showing Purchase Procedure

Ascertaining requirement of material

Exploring the source of supply

Calling quotations

Preparing comparative stamen of quotations

Sending purchase order

Follow up the purchase order

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An Organization Study on TIP TOP Furniture PVT LTD

PRODUCTION DEPARTMENT

Production Manager

Supervisors

Office staff

Carpenters/polishers/labors

4.14: PRODUCTION
The production function of a business is concerned with the creation of a product or services required to satisfy customer needs, wants and desires. In any business that supplies a product or service, it is believed that activities of production system must be closely related to the customer demand in the continuous flow of orders.

Production function will be considered most effective when it serves a dual purpose.

1. It must operate to satisfy, customer demand particularly relating to quality, quantity, price and above timing of delivery as scheduled in the orders.

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An Organization Study on TIP TOP Furniture PVT LTD


2. It must permit production activities to operate in an economical and efficient manner because cost of production is a vital factor in facing the market competition and is ensuring normal profit or return on the investment.

4.16: PRODUCTION PROCESS

Tip-Top Furniture is able to keep up their unique position in the market because of its particular style of production. High quality furniture with excellent design is made in the company. The production function is carried out to the following process.

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An Organization Study on TIP TOP Furniture PVT LTD

Chart Showing Production Process

SIZING

SEASONING

CARPENTARY CARVING POLISHING UPHOLSERY STORE

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An Organization Study on TIP TOP Furniture PVT LTD Sizing


In the first stage the round logs are cut in they required size by sawing. Then the pieces are planned according to their necessity and design of the product. Various types of machines named Banso, Renso for sizing process.

Seasoning
It is an important process of keeping the quality of the product the sized timbers are seasoned in this stage. It is the process of removing the moisture from the timber by parsing heat and cold at particular condition. By seasoning timber will become dry and hard and its quality will be improved. There are two type of seasoning.

1. Chemical Seasoning 2. Natural Seasoning 1. Chemical Seasoning

Chemical seasoning is done in low quality timber. Certain Chemical used for this purpose. Usually chemical seasoning is donning in rubber wood, due to this process it becomes hard and dry. Now this kind of timber is very popular in office furniture and house hold equipments.

The Tip Top Furniture Pvt Ltd uses high quality wood (Rose wood, Teak wood, Mahogany etc.) for making furniture. There is no need of chemical seasoning for then, as they do not use low quality wood.

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2. Natural Seasoning

In this case timbers are seasoned purely by way of natural storing in river or in open area for long days. It is subject to rain and sunshine for some days. In this way all moisture is removed from the wood and become dry. Natural seasoning is time consuming process and same time causes delay in executing orders. Hence to speed up seasoning plan is installed. Wood is kept in standard size and thickness in the special plant and certain amount of steam and cold is passed through it. This may be done for a period of 6 to 7 days. After completing the seasoning process. The wood is passed to the carpentry section.

Carpentry
This is the main stage of production process. Carpentry section is biggest section in the factory where more workers is required, compared to other sections. In this stage timber a log checked and if any defective part detected that part is not used for further operation. Skilled labors are given full freedom in their work. One worker is assigned the complete work of one product. So there will not be any confusion and if any repair is needed he can easily do it. Assembling of furniture is carried out in this section. If any carving work is necessary it will be sent to carving section before assembling or after assembling, as the case may be.

Carving
After carpentry the semi-finished product are sent it the caving section. If necessary all the carving on one product is done by the same worker. Highly skilled labors are employed for this work. In Tip-Top carving is done only by handwork. There is no machinery used for this purpose 43

An Organization Study on TIP TOP Furniture PVT LTD


because the quality of carving by machinery will not reach carving by machinery will not reach carving by hand work.

Polishing
After carving the furniture is passed to the polishing section. In polishing the first process is surface finishing by applying sand paper. Secondly filling the surface by using transparent wood filter. It is used to fill up the holes and small damages. After drying the filler sand paper work is three or more times. Thirdly the surface is coated with sealer. Each time the sand paper work is repeated then putty work is done in each furniture by using matching color of wood. Then the designing works are done on furniture and then using seal mix stains it. After these processes polishing is Carrie does it. There are two methods of polishing namely hand polishing and spray polishing. The different type polishing is:

1. Natural polish 2. Lacquer polish and semi lacquer polish 3. Meal mine and glucose melamine polishes 4. Matt polish 5. Ordinary wood polish.

In the some are glazy and some are not glazy. The polish works takes more than 10 days. After polishing is completed the furniture is moved the upholstery section, is found necessary.

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An Organization Study on TIP TOP Furniture PVT LTD Upholstery


Upholstery is not used all type of furniture. It is used only in sofa, Divan coat, dining chair, settee chair etc. this section uses various type of cloth, velvet (US, Indian, and other countries) cotton etc. also high quality politeness form is used in inside the cover. After the upholstery work the furniture are stored in the warehouse a transferred to the shop as and when required.

4.17: TRAETMENT OF WASTE


In furniture industry the production takes various stages. Certain amount of loss occur various stages of production. There is always some waste and effective woods (sap-wood). The wastes are sold as fire wood and saw dust.

4.18: PRODUCT MANUFACTURED AT GLANCE


PRODUCT WOOD

Wooden cot Dining table with chair Sofa set and Divan cot Dressing table Cupboard Door and Door frames

Teak, Rose and Red Teak, Mahogany and Red Teak, Rose and Red Teak, Rose and Red Teak, Red and plywood Teak and Rose

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4.19: COST OF PRODUCTION


Cost of production is apportioned into various elements are as follows.

Items

Percentage

Timber

30

Polish

30

Wages

20

Upholstery

20

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An Organization Study on TIP TOP Furniture PVT LTD

Figure no: 2

Cost of Production

Timber Polish Wages Upholstery

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An Organization Study on TIP TOP Furniture PVT LTD

4.20: MATERIAL DEPARTMENT

Material management is concerned with planning, directing and controlling the kind amount, location, movement, and timing of the various flows of commodities used in and produced by a business enterprise. The term material management is of very wide importance encompassing within its scope all the activities relating to

1. Purchasing 2. Stock keeping 3. Inventory control

1. Purchasing
It relates to the procurement or purchase of raw materials, intermediate product and suppliers in the case of the manufacturing concern and finished products in the case of the trading business. Purchase of capital equipments and tools for the business is also included in the function the overall objective being to organize and regenerate purchasing activity in such a manner that materials of the right time and at the right price are bight from the right source.

Material Trading
It refers to the art and science involving the moving packaging and strong of substance in any form. It includes all those activities that are concerned with the preparation, placing and positioning of materials to facilitate their movement and storage. Their activities are 48

An Organization Study on TIP TOP Furniture PVT LTD

1. Receipt of material and products and their storage

2. Issue of materials and product from the store house

3. Internal transport of material and products including interposes transfer

4. Packaging and dispatching of products.

Classes of Material
In the material flow system, we include the following

1. Raw Materials

These are the materials that are used in the product, which is in an unprocessed condition, cotton, jute, leather hides iron and steel. 2. Purchased Parts

These are item used in the assembly of the product e.g.: nuts, bolts, screws etc,

3. In Process Materials

They are called work-in-progress inventories. These are semi manufactured goods demanding further process. 4. Suppliers

These are consumable goods used in the process of manufacturing e.g. stationery, pencils oils etc.

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5. Equipment Items All necessary equipments like fixtures and fitting etc. are including in it.

4.21: MATERIAL HANDLING EQUIPMENT


There are various groups of material handling equipment

1. Conveyors
a. Gravity operated b. Hand operated monorail pulley blocks and light cranes c. Power operated

2. Elevators-bet, chain, bucket 3. Cranes


a. Mobile cranes b. Overhead traveling cranes

4. Transporting and storing equipment


a. Still age pallet hand trucks, platform trucks and dollies

5. Earth moving equipment

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An Organization Study on TIP TOP Furniture PVT LTD Advantages of Material Management
The important advantages of material management are follows.

1. An ideal system of material management minimize the movement of material and reduction of handling cost 2. It eliminates unproductive handling of material like back tracking re handling etc. 3. It eliminates the factory hazards and thus increases the safety of the operation. 4. Every inch of factory places are properly utilized. 5. It helps and maintaining effective production planning and control.

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SALES AND MARKETING DEPARTMENT

4.22: STRUCTURE

MARKETING MANAGER

TERRITORY MANAGER

SALES EXECUTIVES

Sale management is the term applied to the process of distributing goods from the producer to the ultimate user. It consists of advertising, selling, transporting and handling financing or risk taking. The objective of sales management is not merely to sell goods to distributors but to get them consumed or get them into use. The responsibility of the sales manager is to ensure that system of distribution works very efficient and effectively, allowing no stock lying idle at any stage. These objectives can be achieved only with proper planning and organization of the sales division. In TIP TOP Furniture Pvt Ltd, sales division is located in the main building of the right in the heart of Kottakkal. Each floor of eight storied building is filled with the rich expiation of its various furniture items.

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An Organization Study on TIP TOP Furniture PVT LTD


The sales department looks into the various activities in connection with both domestic and export sales, delivery, after sales service etc. this selection is under the direct control and supervision of the sales in charge. TIP TOP Furniture follows the indoor selling. They sell goods to the customers who visit the show room to purchase furniture. Seven sales executives are appointed in the showroom. When the party visits the showroom the salesman take him to all the floors and show the price, quality and deferent design of furniture. TIP TOP alpine regalia furniture range is suitable for different customers.

4.23: ADVERTISING
Advertising and sales promotions are two most important function of the sales department. Advertising is the most pivots of modern trade and commerce. It is often defined as printed salesmanship and is daily receiving fresh recognition as the greatest insurer of the quickest, cheapest and most efficient selling of any commodity or services. Advertising is the art of making known to the present and prospective customers the existence of services and commodities meant for sale. It is any paid from of non-persons presentation and promotion of ideas, goods or services by an identified sponsor.

4.24: MEDIA OF ADVERTISING


The sales message of the advertiser can be conveyed to the public in variety of ways. TIP TOP Furniture Pvt Ltd have chosen some media for the purpose, advertisement newspapers, magazines, periodical and journals radio advertising(i.e., painted and flex board in public places),

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direct mail advertising (i.e., the issue of date cards and calendars, booklets, catalogues etc.) delivery van (sides of the van contains bold type of the name of the manufacture and articles).

TIP TOP has a Web site. This media focuses the world level customers. The website is www.tiptopfurnishing.com. This year had already spent Rs. 15 lacks for advertisement.

4.25: CUSTOMERS OF TIP-TOP FURNITURE


Most of the products of TIP TOP are highly costly priced. There for the customers of TIP TOP are from the middle class and upper class people. They are mainly bothered about the beauty and quality of the product rather than the price. If any customer is not satisfied by the furniture designs available in the showroom, then specification them are collected and furniture is made and supplied to them. Once a customer is always be a customer. It is the peculiarity of TIP TOP. The Kottakkal AryavaidyaSala (AVS) is famous for Ayurveda in India and abroad. A number of patients and other European countries peoples also came to AVS for Ayurveda treatment. The foreigners as well as native patients visit TIP TOP. The visitors held to popularize the product inside and outside India. They also purchase some furniture. There are some exclusive pieces of furniture. Kept exclusively for VIP. When they visit nearby places TIP TOP will transport these pieces in to the places where VIP visit. This is simple marketing technique of Tip-Top.

4.26: SELECTION OF VENDER (SUPPLIERS)


After the receipt of quotation from the suppliers the purchase officer will compare different factors connected with the materials and suppliers. The purchase department wants to make a careful study on different aspects of the quotations. For the purpose of analysis of the 54

An Organization Study on TIP TOP Furniture PVT LTD


quotations a comparative statement of quotation is prepared on various quotations received. While selecting the suppliers to whom order is to be given for purchase of materials, the purchase department carefully studies the Manufacturing / supplying capacity Reliability of the supplier Quality of the supplier Financial condition of the supplier Management of supplying firm Price quoted Quantity for which price quoted is applicable Terms of payments Terms of delivery

Thus, the supplier should be dependable and capable of supplying materials of uniform quality at right time and at reasonable price. The materials department gives more performance to the supplier who offers who offers high quality materials at lowest price.

After selecting some suppliers whose offers are reasonable the purchase section will call the concerned parties for negotiation if necessary. It includes deliberation of quality, quantity, price, time and place of delivery, mode of transportation, packing and forwarding.

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An Organization Study on TIP TOP Furniture PVT LTD 4.27: MARKETING OF FURNITURE

MARKET

DOMESTIC MARKET

INTERNATIONAL MARKET

TIP TOP Furniture Pvt Ltd. Markets its products both in the domestic market and international market. Major portion of the products are sold in the domestic market.

4.28: HOME MARKET


The home market comprises of the area within the state and outside the state. Their customers mostly belong to the district of Malappuram, Calicut, Trissur, Kannur and Kasargode etc. The product are also demanded from the southern district of the state and other neighboring states like Tamilnadu, Andrapradesh, Karnataka etc. they also cater to orders from north Indian costumers. The company gives at most care and attention to maintain the quality and perfection of its product, from the row material to the ultimate stage. Hence, the furniture made by the TIP TOP furniture Private Limited is comparatively costlier than that of its peers. Still company finds it hard to meet its demand in time. In the domestic market costumers are mainly from metropolitans cities like Bangalore, Mumbai. They have customers from Coimbatore; Cochin etc. 60% of the production is brought by the domestic market itself. Products sold thought their branches and dealers. 56

An Organization Study on TIP TOP Furniture PVT LTD

4.29: BRANCHES

Tip Top has branches and franchisees across Kerala Branches at Trivandrum, Eranamkulam, Kunnamkulam, Perithalmamma, Calicut, Kannur, kunnamkulam and karunagapally Franchise at Kollam, Cherthala

4.30: INTERNATIONAL MARKET


Now the company concentrate in foreign market as it started export in the year 1995. Mainly the export is done to Middle East countries like Bahrain, UAE, and Saudi Arabia. Their exquisite and explicit models excellent design and exemplary furnishing are the key factors for capturing the international market. This year Tip-Top was starts 100% EOU (export oriented unit). It is a separate unit. So they more concentrate the export. There is good demand for Tip-Top product from UAE, Saudi Arabia and Middle East countries.

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Chapter-5 PORTERS FIVE FORCES MODEL, MC KINSEYS 7s MODEL AND SWOT ANALYSIS.

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An Organization Study on TIP TOP Furniture PVT LTD 5.1: PORTERS FIVE FORCE ANALYSIS OF TIPTOP :
Michael Porter identified five competitive forces that shape every single industry and market. These forces helped us to analyze everything from the intensity of competition to the profitability and attractiveness of an industry .The following image shows the relationship between the different competitive forces influencing and determining the competitiveness and profitability of an industry.

1. Threat of New Entrants


According to TIP TOP Furniture the threats of new entrants is considerably very low. For new furniture industry to enter into a place like Kottakkal is very difficult as majority of the market share is divided among tip top, Classy and Damro Furnitures in the same location. Not only because of the competitors new entrants would be less, its also because of the huge amount of cost incurred to set up a furniture industry.

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An Organization Study on TIP TOP Furniture PVT LTD 2. Bargaining Power of Suppliers
In TIP TOP Furniture there are suppliers for

Timber Polish materials Miscellaneous

The suppliers may ask for higher price for the products they are supplying or may provide with low quality items with the same price. The purchasing department must be very careful regarding purchasing of everything and to ensure that all items conform to their quality standards

3. Threat of Substitute
Furniture made of steel; plastic, fiber etc. are threat to companies like Tip Top furniture which make their furniture out of wood. Such furnitures are less costly compared to those made of wood and are also available in a number of designs. They are long lasting and easily portable from one place to another. So, there is a chance that customers may get attracted towards such furnitures. So the threats of substitutes are more

4. Bargaining Power of Customer


The bargaining power of customers in furniture industry is high, but in Tip Top furniture it is low since they give life time guarantee for their products. But, at times when the customers who come are related to the managing partners or relatives of other officials in the company, they will be forced to give some reductions in the product.

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An Organization Study on TIP TOP Furniture PVT LTD 5.EXISTING COMPETITION Increasing Competition
Furniture industry in India has started growing in a vast manner. Furniture being a necessity its need have risen to a large extent. Furniture industries have grown in the states of Delhi, Mumbai, Kerala, Uttar Pradesh and Tamil Nadu. Now days they have started developing the industry and have more of premium products. Heavy competition is there in this field.

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An Organization Study on TIP TOP Furniture PVT LTD 5.2: MCKINSEYS 7s MODEL
After several years of research, Peters and Waterman concluded that there are seven interdependent hunks of complexity to actively consider, not just two. The 7Ss are:

Strategy: The key strategic trusts that build sustainable competitive advantage and create value.

Structure: The way the organization is structured including the reporting lines. Systems: The business processes and procedures. Staff: the number and allocation of employees between the various constituent parts of the organization

Skills: The capabilities and competencies of the employees within the constituent parts of the organization.

Style: The management style of leadership adopted. Shared values: The core values that constitute the corporate culture.

The first three are known as the hard Ss and the latter four as the soft Ss. When applying the McKinsey 7S framework, it is helpful to compare where an organization is at with where it desires to get to. Action plans for each of the 7Ss can then be developed to bridge the gap. All 7S is needed to considered and crucially aligned.

1. STRATEGIES OF TIP TOP FURNITURE Production level strategies to improve customer satisfaction
Improving communication within the production department. Reporting adverse events. Increasing customer involvement.

Developing protocols and guidelines


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Organizational level strategies to improve customer satisfaction


Managing human resources. Public disclosure. Giving guidelines to customers on how to maintain the quality.

Other strategies
Providing a number of different designs. Providing a culture of safety. Providing Training and Continuous Education. Improving Reporting Systems. Conducting research programs.

2.

STRUCTURE OF TIP TOP FURNITURE


The managing director and board of directors are the head of company. The head of the each department (finance, production, purchase, marketing, personal) comes under the managing director.

The human resource department followed by the human resource manager, office assistant, telephone operators and securities.

Marketing department followed by the marketing manager, territory manager and sales executives.

Accounting department followed by the accounts manager, executives and clerks. Production department followed by the production manager, super visor, carpenters, polishers and labors.

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Purchase department followed by the purchase manager, store keeper, clerks and un skilled labors. 3. SYSTEMS Quality assurance policy Caring for someone with communication disabilities Complaints policy and relation procedures Corporate records management policy Disability equality scheme Dress code and uniform policy Equality and diversity Fire safety Policy Flexibly working and work-life balance Freedom of information Gender equality scheme Health and safety policy Interpretation and translation services Policy Mandatory training policy Personal development policy Providing good compensation Waste management Policy Records management strategy Employment welfare measures policy

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An Organization Study on TIP TOP Furniture PVT LTD 4. STAFF


Number of employee in different departments

Human resource manager Office assistances Clerks Telephone operators Securities Marketing manager Territory manager Sales executives Accounts manager Executives Clerks Production manager Super visors Office staffs Carpenters Polishers Labors Purchase manager Store keepers Clerks Un skilled labors

01 15 05 04 20 01 25 30 01 20 07 01 20 15 35 25 45 01 09 05 15

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Total employees 300

5. SKILLS The skills required in the constituent parts are Technical skills
Involve process or technique knowledge and proficiency in a certain specialized field, such as engineering, computers, accounting, or manufacturing. These skills are more important at lower levels of management since these managers are dealing with employees doing the organizations work. The technical skill involves the managers understanding of the nature of job that people under him have to perform. It refers to a persons knowledge and proficiency in any type of process or technique. In a production department, this would mean an understanding of the technicalities of the process of production. Whereas this type of skill and competence seems to be more important at the lower levels of management, its relative importance as a part of the managerial role diminishes as the manager moves to higher positions. In higher functional positions, such as the position of a marketing manager or production manager, the conceptual component, related to these functional areas becomes more important and the technical component becomes less important and the technical component becomes less important.

Human Skills
Involve the ability to interact effectively with people. Managers interact and cooperate with employees. Because managers deal directly with people, this skill is crucial. Managers with good human skills are able to get best out of their people. They know how to communicate, motivate, lead, and inspire enthusiasm and trust. These skills are equally important at all levels of management. 66

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Human skills are also the ability to interact effectively with people at all levels. This skill develops in the manager sufficient ability. a) b) To recognize the feelings and sentiments of others. To judge the possible reactions to, and outcomes of various courses of action he may undertake and c) To examine his own concepts and values this may enable him to develop more useful attitudes about himself.

Conceptual Skills
Involve the formulation of ideas, conceptualization about abstract and complex situations. Managers understand abstract relationships, develop ideas and solve problems creatively. Using these skills, managers must be able to see the organization as a whole. They have to understand the relationships among various subunits, and visualize how organization fits into its border environment. These skills are most important at the top management levels. Conceptual skills refer to the ability of a manager to take a broad and farsighted view of the organization and its future, his ability to think in abstract, his ability to analyze the forces working in a situation, his creative and innovative ability and his ability to assess the environment and the changes taking place in it. In short, it is his ability to conceptualize the environment, the organization, and his own job, so that he can set appropriate goals for his organization, for himself and for his team. This skill seems to increase in importance as a manager move up to higher positions of responsibility in the organization. Thus, technical skill deals with things, human skills concerns people, and conceptual-skill has to do with ideas.

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An Organization Study on TIP TOP Furniture PVT LTD 6. STYLE Participative Management Style
Also sometime known as consultative management style, this decision making style in management revolves around getting lots of feedback from your staff before coming to a conclusion and making a decision. This means that the process can take a bit longer as there are more voices to be heard, but getting a consensus on major decisions can lead to buy in from those who might otherwise have been opposed to the implementation of such changes. The downside to this style of management and leadership is that employees may feel that you dont value their opinion or are too stubborn if after all of the feedback is received you go off and make the decision in your own without incorporating any of their feedback. If you are going to make company or departmental policy changes, this type of style can make the team feel involved and more apt to go with the flow of whatever changes are coming down. This style also works well for brainstorming sessions as you work on new product ideas or marketing promotions.

7. SHARED VALUES Stewardship


The management of Tip Top Furniture develops and manages their human, financial, material and other resources to benefit and support those the management of Tip Top Furniture serves.

Accountability
The management of Tip Top Furniture is responsible for our actions and focus on how each person can contribute to the success of the organization.

Collaboration
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The management of Tip Top Furniture works as a team and partner with other organizations to benefit our customers, their families and the society.

Respect
The management of Tip Top Furniture treats all people with compassion, concern, fairness and equity.

Excellence
The management of Tip Top Furniture strives each day to constantly improve the quality of the product and services provided to the customer.

Dignity
The management of Tip Top Furniture acknowledges the uniqueness of each person in the eyes of God by honoring their inherent value and worth.

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An Organization Study on TIP TOP Furniture PVT LTD 5.3: SWOT ANALYSIS OF TIP TOP FURNITURE PVT LTD.

The basic objective of SWOT analysis is to provide a frame work to reflect on the firm ability to overcome barriers and to avail of opportunities emerging in the changing environment, the diagnosis of strength and weakness can be fruitfully on if the environment factors and market conditions are considered always with the internal capabilities. SWOT analysis is important tool to find strength, weakness, opportunities and threats. Strength, weakness, opportunities and threats are the elements or key factors that influence the survival and development of any organization.

Strengths:

Largest distribution within India. Superior product quality and wide range of products manufactured out of quality wood. Strong brand equity. Superior understanding of the market. Healthy financial structure. Timely delivery and customer satisfaction. Well established manufacturing base. Dealing in imported furniture items. Highly skilled professionals and qualified workers. Leadership attitude, energy and aggression in the market place.

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An Organization Study on TIP TOP Furniture PVT LTD Weaknesses:


Priced charged are high and not affordable to all classes of people. Since furniture manufactured is made out of quality wood. It is heavy for easy transportation. Lack of awareness among many people. Lack of staff is hindering the smooth flow of the organization. Cost of production is high. Industry has slow absorption of innovation change. Lack of quality awareness.

Opportunities:

Big potential market in Design sector & emerging new market segment in Services. Availability of well qualified manpower. Research & Development capability. More efficient production method. Availability of new developed technology and equipment. Need modernization of infrastructure. Expansion of profit.

Threats:

Compensation from few new entrants in to industry. Chances of prices of wood going up which will further increase the cost of production. Lack in the shortage of supply and availability of materials in time.

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Unfavorable government policies affect the entire furniture industry. Low differentiation products. High price war.

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Chapter -6 A SURVEY ON THE CUSTOMER SATISFACTION LEVEL AT TIP TOP FURNITURE PVT LTD

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Table no: 1. Occupation level of the respondents.

Occupation level Business Profession GOVT Others Total

Frequency 35 20 20 25 100

Percent 35.0 20.0 20.0 25.0 100.0

Figure no: 3 Occupation level of respondents


40 Perecentage 30 20 10 0 Business Profession GOVT Occupation level OTHERS

INTERPRETATION
From the analysis of the above table and figure it becomes clear that majority of the customer of Tip Top

Furniture is their own business (35%) followed by that the above tables shows professions (25%) Are to by Tip Top furniture. 20% are government and 20% are others.

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Table no: 2. Qualification level of the respondents.

Qualification level UG Graduate PG Total

Frequency 50 20 30 100 Figure no: 4

Percent 50.0 20.0 30.0 100.0

Qualification level of the respondents.


60 50 Percentage 40 30 20 10 0 UG Graduate Qualifiaction PG

INTREPRETAION
From the analysis above table and figure most of the respondents are under graduate (50%), graduate (30%), post graduate (20%), because most of the under graduates are employed, rest of the categories are still continuing their study.

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Table no: 3 Marital status of the respondents.

Marital status Single Married Total

Frequency 15 85 100 Figure no: 5 Marital status of the respondents.

Percent 15.0 85.0 100.0

90 80 70 60 50 40 30 20 10 0 Single Maritial status Married

INTERPRETATION
From the analysis above table and figure shows that most of the respondents are married, 85% are married and 15% are single. Married couples need more furniture compared to bachelors.

Percentage

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Table no: 4. Income level of the respondents.

Income level Below 15000 15000-20000 20000-30000 above 30000 Total

Frequency 10 25 48 17 100

Percent 10.0 25.0 48.0 17.0 100.0

Figure no: 6 Income level of the respondents


60 50

Perecentage

40 30 20 10 0 Below 15000 15000-20000 20000-30000 above 30000 Income level

INTERPRETATION
The above table shows that most of the respondents income levels are 20000 to 30000, 10% are below 15000 income level, 25% are up to 20000, 48% are up to 30000 and 17% are above 30000. Tip Top furniture mainly focuses on people with high level of income. A person having an income of above 20000 is 68%.

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Table no: 5 Classification of awareness.

Classification of awareness Others sales person Friend Advertising Total

Frequency 20 14 25 41 100

Percent 20.0 14.0 25.0 41.0 100.0

Figure no: 7 Classification of awareness


45 40 35 Percentage 30 25 20 15 10 5 0 Advertising sales person Awareness friend others

INTERPRETATION
The above table showings most of the respondents are awareness through friends, 41% are advertisement, 25% are friends, 14% are sales persons and having 20% are other sources. Most of the customers know about the product through advertisement.

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Table no: 6 Classification of price level

Frequency High price medium price low price Total Figure no: 8 Classification of price level.
50 45 40 35 Percentage 30 25 20 15 10 5 0 High price low price Price level

Percent 45.0 40.0 15.0 100.0

45 40 15 100

medium price

INTERPRETATION
The table showings that most of the respondents are likely to buy high priced furniture, 40% buy medium priced, and 15% are likely to invest buy low price furniture. This is because Tip Top furniture provides products from high quality wood and other materials which are imported.

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Table no: 7 Opinion about variety.

Frequency Poor Average Good Excellent Total 11 28 34 27 100

Weighted mean 11.0 28.0 34.0 27.0 100.0

Figure no: 9 Opinion about variety.


40 35 30 25 20 15 10 5 0 excellant good Opinions average poor

INTERPRETATION
The above table shows that Tip Top furniture have wide range of variety products. 34% of the respondents are given well, 27% of the respondents are given excellent, 28% of the respondents are given average and 11% of the respondents are given poor. 80

Perecentage

An Organization Study on TIP TOP Furniture PVT LTD Table no: 8


Customer satisfaction level of the respondents.

Frequency highly dissatisfied Dissatisfied Neutral Satisfied Highly satisfied Total Figure no: 10 Customer satisfaction level of the respondents.
highly Customer satisfaction dissatisfied 6% dissatisfied 10%

Percent 6.0 10.0 18.0 26.0 40.0 100.0

6 10 18 26 40 100

level

neutral 18% satisfied 26%

highly satisfied 40%

INTERPRETATION
From the analysis of the figures and tables it can be concluded that most of the customers are highly satisfied as they are provided with high quality and products with life time guarantee. 40% of respondents are highly satisfied 10% of respondents are dissatisfied 26% of respondents are satisfied and 18.00% of respondents are neutrally satisfied, 6% are highly dissatisfied. 81

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Table no: 9 Most acceptable wood.

Frequency Mahogany Rose wood Teak wood Red wood Total 15 20 50 15 100

Percent 15.0 20.0 50.0 15.0 100.0

Figure no: 11 Most acceptable wood.

teak wood rose wood

INTRPRETATION
From the analysis of the tables and figures a showing that most of the respondents are ready to buy Teak wood furniture50%, and 20% respondents are ready to buy rose wood furniture, 15% are ready to buy red wood furniture, 15 % are ready to buy mahogany wood furniture. The Teak wood has long lasting experience rather than others. 82

An Organization Study on TIP TOP Furniture PVT LTD Table no: 10.
Switch over to other shop.

Frequency Yes No Total 32 68 100

Percent 32.0 68.0 100.0

Figure no: 12
Switch over to other shop.

70 60 Percentage 50 40 30 20 10 0 Yes No

INTERPRETATION
From the analysis of the table and figures showing that most of the respondents are prefers to tip top furniture 68%, because Tip Top giving quality assurance and life time guarantee compared others. 32% do not prefer Tip Top Furnitures.

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FACTOR ANALYSIS
A factor is an underlying dimension that account for several observed variables. There can be one or more factors, depending up on the nature of the study and number of variables involved in it. The observed variables are modeled as linear combinations of the factors, plus error terms. The information gained about the inter dependencies can be used later to reduce set of variables of variable in data set. In this study classified the factors are two sub heads they are basic factors and status factors.

BASIC FACTORS
Basic factors are mainly include the factors are quality of products, luxury, advertisement, highly durable, less lead time, low maintenance cost, comfort and good design. The customer attitudes depends up on the basic factors, their buying attitudes depend basic factors.

STATUS FACTORS
Status factors are mainly include the factors are life style, selections and life style products. In this factors are considered customer attitudes or buying behavior based on status.

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Table no: 11 Customer attitudes.

Factors

Initial

Extraction

BASIC FACTORS Quality of products Luxury Advertisement Highly durable less lead time Low maintenance cost Comfort Good design 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 .941 .945 .962 .948 .951 .938 .939 .940

STATUS FACTORS Life style Selection Life style products 1.000 1.000 1.000 .874 .893 .758

INTERPRETATION
Most of the respondents are considering to basic factors to buy the products, remaining customers are depending on status factors. Basic factors full fill the basic needs of the customers so that they give more preference for basic factors.

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Chapter-7 FINDINGS, SUGGESTIONS AND CONCLUSION

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6.1: Survey findings

Most of the respondents are highly qualified, 50% of PG. Among the sample size most of the customers are high income level category (48%). The respondents are awareness through advertisement (41%). Most of the customers are chosen to medium price furniture (45%). Most of the respondents are opined that tip top have wide range of variety products (34%). Respondents are highly satisfied tip top after sale service (40%). Most Of the customer attitudes prefer wood rubber furniture (40%). Customers have negative opinion to switch off to other shops 68% respondents are prefer

Tip Top Furniture. Most of the respondents are considering to basic necessities to buy the products,

remaining customers are depending on status factors.

6.2: Finance Department


TIP TOP maintains a stable financial position. Rs.14016752 now they achieved. Accounts department fully computerized and this department uses tally software. Capital structure of the firm refers to the making up of its capitalization and it includes all long term and short term capital and borrowed funds.

6.3: Marketing Department


Everyone has a good impression on Tip Top Furniture Pvt Ltd.

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Tip Top Furniture is the largest exclusive wooden furniture showroom in Asia with an experience of 32 years. Tip Top Furniture private ltd maintains a good relation with all customers. Advertisement is most efficient promotion tool. Good relation with public cause to increase the sales of the firm. People accept the concept of personal selling. Consumers are not fully aware of internet and e mail marketing. Most of the existing promotional tools are traditional. People will change their purchase decision if they get attractive offers. Promotional tools of Tip Top Furnitures are superior from its competitors.

6.4: Human resource department

Most of employees are satisfied with the present working condition, waste disposal system and leave facility provided to team.

Management provides good canteen facility. Employees in the Tip Top Furnitures are well informed with all type of product in the company.

Most of employees are having good opinion about intervals and welfare programs of the company

Employees are satisfied with their present compensation. Tip Top is a good employer and ideal employee relationship prevails in TIP TOP.

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The company provides almost all welfare facilities to employees. This increase the productivity and profit. Most of employees are satisfied in training amenities provided to them. Employee welfare facilities and productivity are associated. If the welfare facility is favorable, the productivity of the firm is high.

6.5: Production department


Safety measures are adequate, but there is a need to improvement in arraigning safety measures. They did not waste any type of materials; the wastes are sold as fire wood and saw dust. Quality product and with adequate standards. Changing government policies regarding the issues of cutting pass, affects the procurement of timber. Cutting pass is the permission for cutting wood and the transportation of the weeks. Efficient employees are working in Tip Top, so that the waste materials are less.

6.7: SUGGESTIONS
Offers should be made in an influencing manner, so that the customers would be attracted towards the products. Promotion tools should be improved like the advertisement on internet and e mail marketing etc. Advertisement should be designed more attract fully and should be felt originality. Firm can give more awareness to the public about its product by conducting exhibition and other programs.

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Official website need to make more attract full and should be added more advanced information about the product. Skilled salesman should be appointed to educate and guide people in selecting goods best suited to their requirements A study should be conducted to measure the overall performance of the organization and which help to understand the strength and weakness of the company Organization should maintain good relation with customer and public, which will increase the reputation of the firm. Firm can also concentrate on promotional tools like personal selling, telemarketing etc. it may help to give better result in business. Management should always be alert about the various policies of the government regarding procurement and transportation of timber and making of furniture. The firm should take necessary steps to avoid back tracking and re handling of materials. The firm should maintain a good research and development department to understand the market trend, popular designs, costing etc. The firm should maintain a good R&D department to understand the market trends and customer desire. The firm should concentrate to make a kitchen set. The firm should reduce the lead time that will help to achieve customers credibility.

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Customers are the main important factors of whole firms, so the firms should ready to increase the capacity of the customer care department In order to improve the employees standard of living, the management should implement competent remuneration structure. The firm should give more incentives, bonus, festival allowances etc. to the workers. It motivates the workers to work more. It also reduces absenteeism and labor turn over. There should be proper grievances management practices to protect the grievances of employees. The firm should conduct seminars to motivate the employees and to increase their productivity. There should be enough number of employees in each and every department for rational distribution of the work among employees in order to avoid the work overload from the shoulders of few employees. The management should encourage employee participation in decision making process. The firm should absorb better policies and practices in recruitment and selection and implement better employees welfare measures for attracting retaining best talents. Company should organize family get together or tour program once in a year to develop an informal relationship between employees and management in the organization. The firm conducts awareness classes about accidents and how to prevent accidents.

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The firm should impart more training programs to employees. Training should increase the efficiency and productivity of labor force. Proper training helps to develop positive attitude among employees. Job satisfaction can be achieved and it increases the morale of the employee The human resource department should develop the new human resource development strategies like mentoring. Mentoring is a process where by a manager acts a friend, philosopher and a guide to new employee. It is a valuable tool for developing self-confidence and empowered mangers can operate under stress situation while retaining their quality standards and values.

6.8: CONCLUSION
The study has been conducted on overall performance of Tip Top Furniture. The study has helped to gain more knowledge about furniture industry. The main objective of the company is to carry on the business of making, assembling, Export and dealing all type of wooden furniture. Their products are demanded worldwide especially in the Middle East countries. Tip-Top Furniture Private limited, is more concerned of quality and customers satisfaction. The customers who prefer this concern are upper and middle class, when compared to other furniture makers Tip-Top furniture remains hall mark in the mind of the customers. Quality assurance is main motto of Tip Top furniture.

Tip-Top Furniture Private Limited is playing themselves as larger exclusive wooden furniture makers in Asia. At present the growth of Tip-Top Furniture Private Limited is rapid expansion is continues to impress.

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Purchase of materials, storage, issue passing of bills and recording of transaction are the imported function carried on by purchase section. The work of this three sections are divide and Entrusted to deferent staff members under the supervision of the purchase manager materials are issued to the department according to their requisition. The office is computerized to keep records and provide updated information and expedite quicker services.

At present Tip Top Furniture is going to the unique position of the furniture industry. The main object of the company is to carry the business of making, assembling, exporting and dealing in all type of wooden furniture, Tip Top Furniture, is more concentrated of quality and customers satisfaction. The customers who prefer this concern are upper and middle class, when compared with other furniture markers. Tip Top Furniture remains a hall mark in the mind of customer quality assurance is main motto; special care is taken while making the furniture, seasoned wood, excellent workers great finishing are their key in maintaining and controlling the quality. Polishing used by the Tip Top Furniture is of high quality, which is not commonly used by local furniture makers. The polishers are of high cost because it is specially made for TIP TOP by the concerns. It gives a good look to the product. The direct super vision of the managing directors is another peculiarity and secret of behind the success of the firm. They consider the human element as the important input. Management has given preference to human ability rather than any other factor of production, like machine, Material, capital etc. the workers are considered as the wealth of the company Now-a-days companies are offering soft benefits to attract and retain competent employees. An enterprise should have good employee welfare systems. Employee welfare programs must attract talented and efficient employee to the organization. If the welfare activities are not attractive, the existing employees will leave the organization and join other concern. If the 93

An Organization Study on TIP TOP Furniture PVT LTD


employee is not satisfied, he will not work properly. It will affect the growth and reputation of the organization. Tip Top Furniture is a leading furniture manufacturing and trading concern producing high quality products. It produces world class handicraft antique and periodical furniture in solid wood. The firm provides life time warranty for manufacturing defects such as wood powdering, wood shrinking. The sales report of the firm shows that there is an increase in the sales of the firm year by year. The firm using international branded companies machineries and their expert workers work under the strict super vision of quality section can create the perfected finished everlasting furniture and it results in the customer satisfaction. The success of TIP TOP largely depends up on the performance of the employees.

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BIBLIOGRAPHY

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BIBLIOGRAPHY

BOOKS

AUTHORS

18.2 WEBSITES
WWW.TIPTOPFURNISHING.COM WWW.EHOW.COM WWW.IBEF.ORG

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ANNEXURE

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QUESTIONNAIRE Dear respondents, I am ALI SALIH, 2nd MBA students of KRUPANIDHI SCHOOL OF

MANAGEMENT.As a part of our curriculum I am conducting a study on An Organization Study on Tip Top Furniture Pvt Ltd In this regard I solicit your co-operation. We assure you that the information collected will be kept confidential and be used for academic purpose only. 1. Name: 2. Occupation

a) Business
3. Education a) UG 4. Marital status a) Single 5. Income level a) Below 15000 b) d)above 30000

b) Profession

c) Govt.

d) others

b) Graduate

c) PG

d) others

b) married

b) 15000 -20000

c) 20000-30000

6. How do you know about tip top furniture a) Advertising b) sales person c) friend d) others

7. How much do you spent in to furniture products a) High price b) low price c) medium price

8. Opinion about variety


a) Excellent b) good c) average d) poor

9. Are you satisfied with after sales service? a) Highly satisfied


e) Dissatisfied b) satisfied c) Neutral

e) highly dissatisfied

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12. Which kind of wood is most acceptable? a) Red wood


e) Wood rubber b) teak c) mahogany d) rose wood

13. Have you ever switching off the shops a) Yes


b) no

14. Read the following statements and rate each according to the scale given below. Indicate your
choice by recording the number in the blanks provided to the right of each segments. (Strongly Agree -5, Agree -4, Neutral- 3, Disagree -2, Strongly Disagree -1) Furniture is essential for a man to show the luxury. It is suits my life style. Tip top furniture is highly durable. Tip top furniture provides less lead time. Tip top furniture provides low maintenance cost and very economical in the long run. I am very comfort to use tip top furnitures. It is available in good design. A person believes the quality of furniture products. I like to the way of presenting the advertisement. Customer attracts the wide range of selection. Tip top focus on luxury life style products.

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