Project Report Premjith KARUNYA UNIVERSITY

8/12/2019 Project Report Premjith KARUNYA UNIVERSITY

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CHAPTER-1

INTRODUCTION AND DESIGN OF STUDY


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1.1 INTRODUCTION

This study encompasses the study of organization from multiple viewpoints, methods, and

levels of analysis. It states how peopleas individuals and as groups act within organizations

which involves the study of the structure and functioning of its department. Organizing or

organization is one of the important functions of the management. Generally, the entire

organization is different but, they have certain common features. They are group of people

linked together by formal and informal relationship, in hierarchical order that is engaged in

co-operative activities and everyone has identical boundaries. So the study of people in

organization is important for future mangers.

Whenever people interact in organization, many factors come into play. This studies

attempt to understand and model these factors. Like all modernist social sciences, thisorganizational study also seek to control, predict, and explain. It is vital to study the structure

and functioning of successful organization so they will guide directorial towards successful

and profitable functioning.

The swift changes in the field of science and technology has revolutionized the

organizational system. Such changes have become inevitable to achieve the basic objective of

the firm. Organizational functioning is an important factor for any organization to achieve the

desired goals and objectives. This requires co-ordination at all levels for smooth functioning.

This report aims to understand the function of FYRSTA INNOVATIONS relation.


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1.2 Scope of the Study:

The study is being conducted for FYRSTA INNOVATIONS, and this study tells us

an overall view of organization and functions carried out by different departments like

Manufacturing, Maintenance, Marketing, Human resources, Sales and Finance etc...

1.3 Objective of the Study:

The organizational study was carried out at FYRSTA INNOVATIONS ( INDIA) PVT LTD

to achieve the following specific objectives:

1. To understand the organizational framework and its functioning.

2. To understand how the key business processes are carried out in an organization.

3. To gain knowledge about different departments of the organizational and the

functions.

4. To study the interdependence of different departments.

5. To understand the growth and diversification strategies, portfolio structure of the

structure.

6. To study overall performance of the organization.

7. To make a SWOT analysis of the organization.

1.4 Limitations:

a) There were difficulties in obtaining data from executives and managers due to their

busy work schedule.

b) An in-depth study of the company could not be carried out due to shortage of time.

c) The reliability of data used for study is largely depends upon the companies reports

and the information given by executives.

d) The company has the limitation to disclose their financial details, so a detailed

analysis of financial performance of the company is not possible.


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CHAPTER II

INDUSTRY PROFILE AND COMPANY PROFILE


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2.1 COMPANY PROFILE

1. Founder : Siddharth Nair

2. Type:Privately Held

3. Company Size:11-50 employees

4. Website:http://fyrsta.org5. Industry: Health care /pharma

6. Founded:2011

7. Headquarters:Chennai

About Fyrsta Innovations India Private Limited

Fyrsta Innovations India Private Limited is a Private Company incorporated on 08 October

2013. It is classified as Indian Non-Government Company and is registered at Registrar of

Companies, Coimbatore. Its authorized share capital is Rs. 1000000 and its paid up capital isRs. 1000000.

About Fyrsta Innovations India Private Limited

Fyrsta Innovations India Private Limited is a Private Company incorporated on 08 October

2013. It is classified as Indian Non-Government Company and is registered at Registrar of

Companies, Coimbatore. Its authorized share capital is Rs. 1000000 and its paid up capital is

Rs. 1000000. Fyrsta Innovations India Private Limited's Annual General Meeting (AGM)

was last held on N/A and as per records from Ministry of Corporate Affairs (MCA), its

balance sheet was last filed on N/A.


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2.2 FYRSTA VISION & MISSION

Vision

Fyrsta will be the most credible system providing systematic and innovative technological

solutions which would lead to important novel transformation initiatives globally. Also

provide a big platform to young Engineers to showcase their talent and prove themselves to

the world.

Mission

Become a creditable globally acknowledged enterprise for our valuable client and become aInnovative and Technologically advanced Engineering powerhouse with International Quality

Designs to serve the world and make it a better place to live.


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2.3 PRODUCT AND FUNCTIONS

ReLive E

- Electrotherapy

- Variable Intensities

- Single Fixed Frequency

- LED Indications

- Disposable Electrode (2 Sets)

- Standard Electrode(Optional)

ReLive NL

- Phototherapy

- Fixed wavelengths


- Single Fixed Frequency

- LED Indications

- Standard LED Pad

- Customized LED Pad (Optional)

ReLive NMV

- Combination of Electrotherapy and Vibrotherapy


- Single Fixed Programmable Frequency

- LED Indications


- Standard Electrode + Standard Vibropad

ReLive NMVL

- Phototherapy, Electrotherapy and Vibrotherapy

- Fixed Wavelengths


- Re- Programmable Frequency

- LED Indications

- Standard LED Pad

- Standard Electrode + Vibropad

- Disposable Electrode (2Sets)

ReLive Stroke

- Customized device (NMVL) for stroke patients.


- Re-Programmable

- LED Indications

- Standard Electrode + Vibropad

- Customized Electrode (Optional)


ReLive Ultimate

- Phototherapy, Electrotherapy and Vibrotherapy

- Customized Wavelengths


- Multiple & Re-Programmable Frequency

- LCD Display

- Battery Operated


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2.4 MAN POWER PROFILE

Job description

Designation - customer associate

Reporting - store manager

Location - Delhi

Eligibility - any graduate or final year appearing student

Additional requirementsexcellent communication skills

- Pleasing personality

Profile

The profile of a customer associate at a FYRSTA INNOVATIONS, store would

Include the following operations

1. Sellingup selling, cross selling.

2. Replenishment

3. Visual merchandising

4. Cashiering

5. Inventory management

6. Report generating

Working relationships:

Internal:

Store Manager, Other store staff,

Merchandisers

Retail Operations team of the Region


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ORGANISATION STRUCTURE

Mr.Siddarth Nair

(Managing Director)

Mr . VishalMuraleedharan

(Executive Director)

Naresh Kumar .R

(Exectuive Director)

Nageeswar A.S

(Executive Director)


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A Career at FYRSTA INNOVATIONS

Fyrsta is constantly looking for young and talented individuals who are looking for a great

opportunity in the lifestyle sector. A healthy working environment and a professional work

culture characterize the company.

Fyrsta is focused on offering its employees an excellent work experience.

New employees will get an exposure to the latest technology and ERP systems.

Your career at Fyrsta will grow with different products and brands and you will get

opportunities to work in different regions of the country.

The work culture will encourage every employee to offer the best customer service

and assistance.

Designers can also explore a career in this company.

Employees with outstanding performance will get promoted easily and gain an edge

over the other employees.

Experimentation and innovation are the key reasons for the success of Fyrsta.

With so much to learn, your career at Fyrsta will take a new turn.

The following are the positions you can apply for:

Marketing manager

Design specialist


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2.5 Company Landmark's and Awards

Awards

FYRSTA has won numerous awards for its quality, marketing and product excellence

from Tata Young Innovator Award 2014 for new invention for society .

Received Young Entrepreneur award from CNN

Achieved CE Certification in manufacturing Bio medical Equipment

Received Calibration Certification From Thomson Labs

Received Best Design Award From IIT Roorkee


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CHAPTER - III

OBSERVATION


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3.1 Purchase Department

Since the company is exporting its product to European Countries it should meet out CE and

ROHS compliance so the components has to be purchased in following specification

EC- Declaration of ConformityThe DoC is where you make the required statement of conformity of your product with all

applicable EC directives. Its the manufacturer that issues a DoC, not the test house or

Notified Body. The DoC is a liability statement, and must be founded on solid proof of

compliance, such as a conformity certificate from a test house, or a test report issued by ce-

test.

3.2 Production Department

Quality control inspectors make sure that everything from raw materials to finished products

meets quality and safety standards specified in the purchasing documentation. All production

processes, whether large or small, require elements of quality control and all inspection and

testing is carried out to specified requirements that have been agreed between the purchaser

and the supplier.

Quality control inspectors normally work in a laboratory, workshop or office. They visit the

factory floor to take samples of products and inspect production, and to discuss problems

with colleagues.

They also inspect products purchased by their company from suppliers and maintain records

of supplier performance. This data is important in helping suppliers to improve their

performance and for making decisions regarding which suppliers can be relied on to meet

specified requirements,

Inspectors regularly check and test samples of a product, as it would be impractical to test

every single item that leaves a factory or workshop.


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3.3 Human resource department

Your Companys unique talent brand Building Winning Businesses. Building Business

Leaders. Creating Value for India backed by its strong corporate equity, has enabled the

attraction and retention of high quality talent. This talent pool and its strong alignment with

your

Companys Vision, has contributed to enhancing your Companys standing as one of Indias

most valuable corporations. The innovative engagement initiatives with premier campuses

and effective use of social media has enabled your Company showcase the career and

leadership opportunities available and has attracted both high quality entry-level talent from

premier technology and management institutes as well as talent from the market for middle

and senior-level opportunities. Your Companys unique Management Traineeprogramme has

over the years, developed a robust talent and leadership pipeline that has enabled rapid

growth of existing businesses and entry into new businesses as well. In addition, your

Companys comprehensive talent development strategy has enabled the enhancement of the

competitive capability of each business. Your Company believes that the achievement of its

growth objectives will depend largely on the ability to innovate continuously, connect closely

with the customer, and create and deliver superior and unmatched customer.

value. Towards this end, your Company has assiduously built a culture of continuous

learning, innovation and collaboration across the organization by providing cutting-edge

learning and development inputs to its employees, along with a judicious blend of coaching,

mentoring and on the job training. Your Company has been able to galvanize its human

resource to become more agile, leverage change, stay ahead of competition and win in the

market. Your Companys human resource management systems and processes are designed

to empower employees and enable them adopt innovative approaches to creating enduring

value. These processes aim to create a responsive, customer-centric and market-focused

culture that enhances organisational capability and vitality, so that each business is

internationally competitive and equipped to exploit emerging market opportunities. The

strategy of organization lays great emphasis on developing and supporting distributed

leadership and this has ensured that each of your Companys businesses is managed by a

team of competent, passionate and inspiring leaders, capable of building an organization

anchored in a culture of learning, innovation and world-class execution. Your Companys

performance management system has been instrumental in creating a strong performance

culture. Your Company firmly believes that alignment of all employees to a shared vision and

purpose is vital to win in the market. Your Company also recognizes the mutuality o


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interests of key stakeholders and is committed to building harmonious employee relations.

During the year under review, your Company successfully conclude long-term agreements at

several of its manufacturing

units and hotel properties and also ensured smooth commencement of operations at green

field locations. The collaborative spirit across all sections of employees has resulted in

significant enhancement in quality and productivity, further bolstered by continuous

investment in contemporary management practices and manufacturing systems. Your

Companys human resource believes that the drive for progress is in being never satisfied

with the status quo. Your Company is confident that every one of its over 200 employees will

relentlessly strive to deliver world-class performance, innovate newer and better ways o

doing things, uphold human dignity and foster team spirit and discharge their role as

trustees of all stakeholders with true faith and allegiance. Your Company is committed to

perpetuate this vitality of FYRSTA INNOVATIONS (INDIA)its growth in physical terms

and also its growth as a great institution so that your Company will continue to grow and

succeed in its never-ending pursuit of value creation.

Fyrsta Privacy policies:

1) FYRSTA INNOVATIONS (INDIA) Limited welcomes you to its website and looks

forward to be a meaningful interaction with you.

2) FYRSTA INNOVATIONS INDIA Limited respects your right to privacy. Any

personal information that you share with us, like your name, date of birth, address,

marital status, telephone number, credit card particulars and the like shall be entitled

to privacy and kept confidential

3) FYRSTA INNOVATIONS INDIA Limited assures you that your personal

information shall not be used/ disclosed by it, save for the purpose of doing the

intended business with you, or if required to be disclosed under the due process o

law.

4) FYRSTA INNOVATIONS INDIA Limited assures you that in the event of your

personal information being shared with its subsidiaries, business associates etc, such

sharing of information shall be for the purpose of doing the intended business with

you.

5) FYRSTA INNOVATIONS INDIALimited reserves its rights to collect, analyze and

disseminate aggregate site usage patterns of all its visitors with a view to enhancing

services to its visitors. This includes sharing the information with its subsidiaries, and


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business associates as a general business practice.

6) In the course of its business FYRSTA INNOVATIONS INDIALimited may hold on-

line contests and surveys as permitted by law and it reserves its right to use and

disseminate the information so collected to enhance its services to the visitors. This

shall also include sharing the information with its subsidiaries and business associates

as a general business practice.

7) If you have any questions or concerns regarding your privacy issues, please do not

hesitate to contact FYRSTA INNOVATIONS INDIA Limited at

[email protected]

8) While FYRSTA INNOVATIONS INDIALimited assures you that it will do its best

to ensure the privacy and security of your personal information, it shall not be

responsible in any manner whatsoever for any violation or misuse of your personal

information by unauthorized persons consequent to misuse of the internet

environment.

9) Cookies: - To personalize your experience on our website or to support one of our

promotions, we may assign your computer browser a unique random number called a

cookie. "Cookies" enhance website performance in important ways like personalizing

your experience, or making your visit more convenient. Your privacy and security are

not compromised when you accept a "cookie" from our website. FYRSTA

INNOVATIONS INDIALtd. does not use cookies to collect personal information.

"Cookies" cannot read data from your computers hard disk or read cookie files from

other websites

10)FYRSTA INNOVATIONS INDIALimited reserves its rights to revise this privacy

policy from time to time at its discretion with a view to making the policy more users

friendly.

11)In the design of our website, we have taken care to draw your attention to this privacy

policy so that you are aware of the terms under which you may decide to share your

personal information with us. Accordingly, should you choose to share your personal

information with us, FYRSTA INNOVATIONS INDIALimited will assume that you

have no objections to the terms of this privacy policy.


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Policy on Human Rights

FYRSTA INNOVATIONS INDIAbelieves that all its employees must live with social and

economic dignity and freedom, regardless of nationality, gender, race, economic status or

religion. In the management of its businesses and operations therefore, FYRSTA

INNOVATIONS INDIA ensures that it upholds the spirit of human rights as enshrined in

existing international standards such as the Universal Declaration and the Fundamental

Human Rights Conventions of the ILO.

Policy

FYRSTA INNOVATIONS INDIA upholds international human rights standards, does not

condone human rights abuses, and creates and nurtures a working environment where human

rights are respected without prejudice.

Implementation

The Corporate Human Resources function of FYRSTA INNOVATIONS INDIA is

responsible for the Human Rights Policy design, implementation and updation.

The policy is implemented at all locations of FYRSTA INNOVATIONS INDIAthrough a set

of separate policies and procedures covering each of the main constituents of human rights

applicable at the workplaces.

Monitoring & Audit

The assessment procedures for different constituents of this policy are defined against each

specific policy.

Consideration of Human Rights Impacts Across the Supply Chain

As a large and multi-product enterprise whose products are benchmarked nationally and

internationally, FYRSTA INNOVATIONS INDIA's main supply chains can be grouped as

follows:

For all its operations, technology, machinery and equipment are sourced from reputed and

globally benchmarked suppliers/vendors who are expected to follow internationally accepted

norms and standards on human rights.

FYRSTA INNOVATIONS INDIA's major businesses are vertically integrated across several


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Divisions. A substantial part of the supply chain is therefore internal through strategic

backward linkages. Common values relating to human rights performance are shared across

this supply chain.

Being a major bio medical-based company, the agriculture sector is a major supplier of inputs

for its operations. The bulk of bio medical commodities are procured from state controlled

trading platforms and the open market.

A very small proportion of FYRSTA INNOVATIONS INDIA business consists of supply

chains comprising local vendors and suppliers. The policy framework for such entities is

enunciated separately in 'Policy to Ensure Respect for Human Rights across the Supply

Chain'.

Policy to Ensure Respect for Human Rights Policy across the Supply Chain

FYRSTA INNOVATIONS INDIA provides products and services of superior quality and

value by sourcing its technologies, equipment and inputs from reputed international and

Indian manufacturers and suppliers. Common values, relating to human rights performance,

are shared across the entire supply chain because FYRSTA INNOVATIONS INDIA is

committed to the importance of a socially responsible and accountable supply chain.

Policy

FYRSTA INNOVATIONS INDIAnurtures an internal working environment which respects

human rights without prejudice. Likewise, it expects its business partners to establish a

human rights compliant business environment at the workplace.

Implementation

The responsibility for implementation of this policy rests with the Divisional Chief Executive

of the concerned business and the Unit Manager. The policy is communicated internally

through policy manuals and intranet portals, and externally by the HR personnel of concerned

units to vendors/suppliers.

Monitoring & Audit

FYRSTA INNOVATIONS INDIA has established a policy intent for mapping/monitoring

progress and performance of existing and potential vendors/suppliers on human rightsperformance


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Policy to Prevent Discrimination at Workplace

FYRSTA INNOVATIONS INDIAacknowledges that every individual brings a different and

unique set of perspectives and capabilities to the team. A discrimination-free workplace for

employees provides the environment in which diverse talents can bloom and be nurtured.

This is achieved by ensuring that a non-discrimination policy and practice is embedded

across the Company in line with corporate principles and benchmarked business practices.

Policy

FYRSTA INNOVATIONS INDIA 's approach to its human resources is premised on the

fundamental belief in fostering meritocracy in the organisation which, pari passu, promotes

diversity and offers equality of opportunity to all employees. FYRSTA INNOVATIONS

(INDIA) does not engage in or support direct or indirect discrimination in recruitment,compensation, access to training, promotion, termination or retirement based on caste,

religion, disability, gender, age, race, colour, ancestry, marital status or affiliation with a

political, religious, or union organization or minority group.

Implementation

The policy is communicated to all employees through induction programmes, policy manuals

and intranet portals.

The custodian of this policy is the head of each operational unit and Divisional Chie

Executives of the respective business.

FYRSTA INNOVATIONS INDIA 's complaints resolution procedure is premised on the

freedom of employees to approach higher officials beyond his/her immediate superior. For

the unionized employees, compliance of the policy is ensured through a robust grievance

handling procedure and the presence of a union that brings violations to the notice of the unit

HR head

Monitoring & Auditing

The accountability for the application of the non-discrimination employment policy rests with

the Unit Head who reviews anti-discriminatory complaints annually or on a case-by-case

basis.

The Corporate Human Resources function conducts non-discrimination reviews annually on

a sample basis with unit heads and through on-site assessments.


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Policy on Freedom of Association

FYRSTA INNOVATIONS INDIA 's culture is characterized by cooperative relationships

and high employee involvement that relies on building partnerships and interdependence.

Adhering to these principles has helped build, sustain and strengthen harmonious employee

relations in the organisation.

Policy

FYRSTA INNOVATIONS (INDIA) respects the employees' right to organize themselves

into interest groups as initiatives of the workers, independent from supervision by the

management. In keeping with the spirit of this Policy, employees are not discriminated

against for exercising this right.

Implementation

The policy is comunicated to all employees through induction programmes, policy manuals

and intranet portals.

The custodian of this policy is the HR head of each operational unit who reports directly to

Unit Head on such issues.

The actualisation of this policy is evident from the joint agreements and minutes that aresigned between the union and the management.

Monitoring & Audit

Each FYRSTA INNOVATIONS (INDIA) Unit has appropriate systems and checks to ensure

compliance with the Policy and statutory provisions, including means for filing of grievances,

collective bargaining agreements and minutes from worker meetings.

Compliance with the Policy is regularly monitored by Divisional and Corporate HR.

Policy Prohibiting Child Labour and Preventing Forced Labour from Workplace

The foundation of FYRSTA INNOVATIONS INDIA 's "No Child or Forced Labour policy"

is based on the Company's commitment to find practical, meaningful and culturally

appropriate responses to support the elimination of such labour practices. It thus endorses the

need for appropriate initiatives to progressively eliminate these a buses.


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Policy

FYRSTA INNOVATIONS (INDIA) does not employ any person below the age of eighteen

years in the workplace.

FYRSTA INNOVATIONS (INDIA) prohibits the use of forced or compulsory labour at all

its units. No employee is made to work against his/her will or work as bonded/forced labour,

or subject to corporal punishment or coercion of any type related to work.

Implementation

This policy is publicly available throughout the Company and clearly communicated to all

employees in a manner in which it can be understood through induction programmes, policy

manuals and intranet portals.

The responsibility for the implementation of the policy rests with the Units HR Department

and the security staff who do not permit underage persons to enter the factory as workers.

Employment contracts and other records documenting all relevant details of the employees,

including age, are maintained at all units and are open to verification by any authorized

personnel or relevant statutory body.

Compliance with the policy is evident in the transparent system of recruitment and the policy

of exit interviews which are undertaken by a manager not directly connected with the

employee. For the unionised employees, compliance is also ensured through a robust

grievance handling procedure and the presence of a union that brings violations to the notice

of the unit HR head.

Monitoring & Audit

Sample checks of the records are undertaken annually by Corporate Human Resources

function.

Audit and assessment is undertaken annually by Corporate Internal Audit and the

Environment, Occupation Health and Safety function.

Policy on Information and Consultation on Changes

FYRSTA INNOVATIONS INDIA 's core values support an employee engagement processthat aligns its employees with a shared vision and purpose of the Company in the belief that


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every individual brings a different perspective and capability to the team. FYRSTA

INNOVATIONS (INDIA) thus harnesses the creative potential of all its employees by

promoting a culture of partnerships to unleash relevant synergies between different groups of

employees.

Policy

All major changes in operations involving work processes, manning norms and other

productivity linked issues are carried out after discussions with the employees and the

recognized unions at each location.

Implementation

Business plans are shared with employees at all units through a series of formal

communication meetings, and through the intranet portals. Unionised employees at the

concerned units are informed of all major changes well in advance through their

representatives.

The responsibility for the implementation of the policy rests with the Unit's HR Department

in the case of unionized employees and with the concerned Divisional Management

Committees for other employees.The employees are given enough time to consider theimplications of change and an opportunity to discuss their apprehensions, if any, with the

management.

The Policy is actualised through consultative meetings with representatives of employees,

culminating in joint minutes/agreements.

HIV/AIDS: Policy Guidelines

Background

FYRSTA INNOVATIONS (INDIA) is committed to providing a safe and healthy work

environment to all its employees. These policy guidelines on HIV/AIDS are an endorsement

of this commitment and, in particular, of the Company's commitment to specific programmes

and actions in response to the HIV epidemic.

The Company's position is based on scientific and epidemiological evidence that people with

HIV/AIDS do not pose a risk of transmission of the virus to co-workers by casual, non-sexualcontact in the normal work setting.


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Policy Guidelines

Compliance

The Company's policies on HIV/AIDS with regard to its employees will, at a minimum,

comply with all relevant Central and State legislation and the Company will implement all

policies and directions of the Government regarding HIV/AIDS whenever issued.

Prevention through Awareness

The Company will provide to all its employees sensitive, accurate and the latest information

about risk reduction strategies in their personal lives, with the objectives of reducing the

stigma of HIV/AIDS, encouraging safe behaviour and improving understanding of treatment.

Safe and Healthy Workplace

The Company is committed to providing a safe and healthy workplace to all its employees. It

is the Company's objective that employees will have access to health services to prevent and

manage HIV/AIDS.

Non-discrimination

The Company will not discriminate against any employee infected by HIV/AIDS with regard

to promotions, training and other privileges and benefits as applicable to all employees.

A HIV positive employee will be allowed to continue to work in his/her job unless

Medical conditions interfere with the specific job being done, in which case reasonable

alternative working arrangements will be made; or The employee is incapacitated to perform

his/her duties and is declared medically unfit by a medical doctor, in which case the

employee will be assisted to rehabilitate himself/herself outside the Company.

The Company will not make pre-employment HIV/AIDS screening mandatory as part of its

fitness to work assessment. Screening of this kind refers to direct methods (HIV testing),

indirect methods (assessment of risk behaviour), and questions about HIV tests already

taken.HIV/AIDS test will not be part of the annual health check-ups unless specifically

requested for by an employee.

Confidentiality

Voluntary testing for HIV/AIDS when requested for by the employee, will be carried out by

private or community health services and not at the workplace.There will no obligation on the

part of the employees to inform the Company about their clinical status in relation to


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HIV/AIDSInformation on clinical diagnosis of an employees' status in terms of his/her

HIV/AIDS status if advised to the Company, will be kept strictly confidential.

3.4 Marketing department

FYRSTA INNOVATIONS (INDIA) had launched nearly all the products range of

Bio Medical equipment ; they are very aggressive in their distribution of such products. The

existing network of FYRSTA INNOVATIONS INDIA.

FYRSTA INNOVATIONS (INDIA) Pricing strategy:

The pricing of the FYRSTA INNOVATIONS (INDIA) manufacturing division depends

upon the Customers demand schedule, the cost function and the competitors price. The

pricing of the company is such that it caters to the need of all income groups of people but

special provision has been kept for Low and middle income group, and their pricing are

competitive with respect to other players like Siemens, Toshiba, Philips . The company

follows the Going rate pricing that is the price of the product depends upon the competitors

price. The firm chooses pricing more or less the same as Market leader

FYRSTA INNOVATIONS (INDIA) Promotional activities

A particular budget is allocated for the promotion of the products, the local promotion

scheme is decided by the Area Sales Manager, it give its suggestion to the District office and

that is forwarded to the Head Quarter in Chennai .In another promotional scheme for Bio

medical Equipment maintain ace a particular number of cases is given free service according

to the amount of sale they make, this was a drop down promotion

FYRSTA INNOVATIONS (INDIA) Distribution

Buoyed by a strong distribution network FYRSTA INNOVATIONS (INDIA) is likely to

retain its market share in the bio medical equipment. the ban on advertisements is likely to

work in favour of FYRSTA INNOVATIONS (INDIA) thanks to the recall factor.


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3.5 Finance Department :

Finance plays a vital role in organization since the company was established in 2013

Currently company doesn't have any financial statement company using Tally 9.1 ERP for

filing the accounts and Capital invested in company is Rupees100000 by the Directory and

company is planning to raise its share capital by angel investors .

3.6 Research & Development

FYRSTA INNOVATIONS (INDIA) is committed to delivering world-class products and

services. This requires a clear focus on continuously striving to create a higher value to

customers by achieving excellence in all Company's operations. Business excellence calls for

a passionate focus on technology, products, services, processes and an operating environment

firmly anchored to an impregnable foundation of Quality.

FYRSTA INNOVATIONS (INDIA) firmly believes that quality is not a specifically

assignable task. It needs to be firmly rooted and institutionalized in the culture and value

system of the Company. FYRSTA INNOVATIONS (INDIA) nurtures a culture of striving

for continuous improvement in quality, be it in products, services, systems or performance.

The Company is committed to the establishment of systems and processes to promote

organisational creativity and innovation.

FYRSTA INNOVATIONS INDIA 's development of its Integrated Quality Management

System (IQMS) is based on its strong foundation of implementing ISO 9001:2000, ISO

14001, Likewise, FYRSTA INNOVATIONS INDIA 's strategic initiatives for developing its

people have been based on participative management concepts like QC (Quality Control),

TQM (Total Quality Management), KSS (Kaizen Suggestion Scheme), 5S, Six Sigma.

(PQRS). The Leaf Tobacco and Printing & Packaging businesses have achieved world-class

ratings in the 'International Quality Rating System' (IQRS) for business excellence in which

key processes are rated against international benchmarks and certified by accredited 'third

party' independent assurance providers.


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FYRSTA INNOVATIONS INDIA 's Research & Development Centres

At FYRSTA INNOVATIONS INDIA 's Research & Development Centres at Chennai

,Australia, Dubai . Siddharth Nair and Nagesswar , the Company has assembled a pool of

world-class scientists focused on providing the requisite r&d support to its established and

new businesses enabling the Company to consistently attain internationally benchmarked

quality standards and constantly offer product innovations.

FYRSTA INNOVATIONS (INDIA) r&d Centre at Chennai provides systemized service to

the entire range of FYRSTA INNOVATIONS INDIA 's businesses through Product

Technology Cells, Common Service Modules, Advanced Research Initiatives and

networking with national and international r&d centres.

Product Technology Cells (PTCs)are product-specific. Each PTC caters to the needs of the

businesses through Market Intelligence, Product Testing & PQRS services, Prototyping

services through advanced pilot plants, flavour and fragrance development services, periodic

audit of factory quality systems and Product Knowledge and Training Workshops.

PTCs assist businesses through sensory evaluations by highly trained and specialised

panelists. Common service modules like Packaging and Advanced Analytical labs offer their

services across all businesses.


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FYRSTA INNOVATIONS (INDIA) r&d Centres are manned by highly qualified and trained

scientists specialised in their fields. The labs and pilot plants have ultra modern, state-of-the-

art testing and prototyping facilities. The laboratory at Chennai has obtained accreditation

from ISO 17025for key testing protocols.

FYRSTA INNOVATIONS (INDIA) Corporate r&d located in Bengaluru undertakes research

programs for multiple FYRSTA INNOVATIONS (INDIA) businesses built on a common set

of core competencies. The initial sets of core competency areas identified are: Plant

Breeding and Genetics, Agronomy, Microbiology, Molecular Biology, Silviculture, Cell

Biology, Proteomics, Genomics, Biochemistry and Ingredient Sciences. The facility aims

to create 'Centres of Excellence' in these areas.

Consumer buying decision

The main driver in attracting the consumers is Quality of the product itself with

nearly65% of the people surveyed citing it as the main criterion for choosing the product,

followed by past experience of the consumer with the brand (17.6%). Price was third criterion

with a percentage of 11.7% of the people surveyed gave importance during buying. An

effective advertisement will attract more and more customer to buy, helps in the brand and

image formation, and informative in telling the USP of the product.


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``

CHAPTER - IV

STRATEGIC ANALYSIS


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4.1 SWOT Analysis of FYRSTA INNOVATIONS (INDIA) Ltd.

The following points on customer buying behavior shows the internal and external

factors affecting the market opportunities for FYRSTA INNOVATIONS INDIA . This

SWOT analysis also shows TC internal strengths such as their experienced management team

, a competitive product line, a global marketing realm, and the continuous efforts by their

research and development to research trends in the industry and to be creative in exploiting

the trends, some possible opportunities noted in the SWOT analysis are the growing market

for specializes advanced technology in reducing size of equipments .

Although FYRSTA INNOVATIONS (INDIA) has many strengths, a few weakness

lie in the fact that the company . A few of the threats must stay aware of reliability of its

product line, the almost pure competition in pricing for is products, and the quickness of

technological advances causing existing products to be no longer the most advanced.

1. Strengths

Management:Experienced, broad base of interests and knowledge.

Product line: Unique, customized solution, competitive price and convenient.

Marketing: Diverse and global awareness.

Personnel: International , diverse positions.

International ,diverse positions: High sales revenue, high sale growth, large capital base.

Manufacturing: Low cost and liabilities due to outsourcing of bottling.

Research and development: Continuous efforts to research trends an reinforce creatively.


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Consumer/social: Huge market in the healthy products and growing market for specialize d

foods for ethnic groups.

Competitive: Distinctive name , product and packaging in with regards to its market.

Technological: internet promotion such as banner ads and keywords can increase their sales,

and more computerized manufacturing and ordering processes can increase their efficiency.

Economic: Consumer income is high, more tend to eat out, convenience is important to U.S.

2. Weakness

Management: Large size may lead to conflicting interests.

Product line:New products have no existing customer base , generic brands can ,make

similar productcheaper

Market: May lose focus, may not be segmented enough.

Personnel: Possible conflicts due to so many people, possible trouble staying focused.

Finance: High expenses may have trouble balancing cash-flows of such a largeoperation.

R&D: May concentrate too much on existing products, entrepreneurial ship may be

welcomed.

Consumer/ social: More expensive products than Philips, such a high price may limit lower

income families from buying an FYRSTA INNOVATIONS (INDIA) product.

Competitive:Not entirely patentable, constant replicability by competitors.

Technological: Computer brake downs viruses and hackers can reduce effieciency and must

constantly update products or other competitors will be more advanced.


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Economics: Very elastic demand , almost pure completion.

3. Opportunities:.

Entry into Tier 2 and Tier 3 cities.

Collaboration with foreign players because of a national brand.

An opportunity to diversify its operations in e. retailing.

As company of India can go globally.

4. Threats:

Employee shortage and attrition due to rapid growth in the holl market.

Impact of slowdown in consumer spends to be felt in FMCG market.

Opening up of economy for free entry of foreign players.


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4.2 McKinsey 7S framework

Most of us grew up learning about the 4Ps of the marketing mix: product, price, place,

promotion . And this model still works when the focus is on product marketing. However

most developed economies have moved on, with an ever-increasing focus service businesses,

and therefore service marketing. To better represent the challenges of service marketing,

McKinsey developed a new framework for analyzing and improving organizational

effectiveness, the7s model: The 3Ss across the top of the model are described as Hard Ss:

Strategy:The direction and scope of the company over the long term.


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Structure:The basic organization of the company, its departments, reporting lines, areas

of expertise, and responsibility( and how they interrelate).

Systems: Formal and informal procedures that govern everyday activity, covering

everyday activity, covering everything from management information systems at the

point of contact with the customer (retail systems, call centre systems, online systems,

etc).

The 4Ss across the bottom of the model are less tangible, more cultural in nature, and

were termed Soft Ss by McKinsey:

Skills:The capabilities and competencies that exist within the company. What it does

best.

Shared Values:The values and beliefs of the company. Ultimately they guide employees

towards valued behavior.

Style: The leadership approach of top management and the companys overall operating

approach.

In combination they provide another effective framework for analyzing the organization

and its activities. In marketing- led company they can be used to explore the extent to which

the company is working coherently towards a distinctive and motivating place in the mind of

consumer.


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4.3 Findings:

Comparative Study of Brands

Poor firms ignore their competitors; Average firms copy their competitors; Winning firms lead their

competitors.

Competition can be defined as A market in which rivalsellers are trying to gain extra business at one

another's expense and thus are forced both to be as efficient as possible and to hold their prices

down as much as possible.Competitors,on the other hand are, those firms or individuals who seek

to satisfy the same customers or 14 customer needs and offer similar products or services,

close substitutes or brands to them . CP inner circle mainly consists of international brands like

philips,toshibha,seimens which majorly cater to the same target segment as Fyrsta and thus count as

competitors for the brand. Since Fyrsta is a complete customized solution with its brand RELIVE.

Actual Competitors

Philips, Siemens ,Toshibha .

Suggestions:

Fyrsta Innovations private limited can concentrate R&D since the medical field is wide and

can introduce low cost equipment. to make the revenue into the organization company can

focus on bio medical equipment servicing to improve its capital


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CHAPTER -V

CONCLUSION


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CONCLUSION

Your Companys Board and employees are inspired by the Vision of sustaining FYRSTA

INNOVATIONS INDIA s position as one of Indias most admired and valuable companies,

creating enduring value for all stakeholders, including the shareholders and the Indian

society. Your Company has created multiple drivers of growth by developing a portfolio of

world-class businesses Each business within the portfolio is continuously engaged in

upgrading strategic capability to effectively address the challenge of growth in an

increasingly competitive market scenario. Effective management of diversity enhances your

Companys adaptive capability and provides the intrinsic ability to effectively manage

business risk. The vision of enlarging your Companys contribution to the Indian economy is

manifest in the creation of unique business models that foster international competitiveness of

not only its businesses but also the entire value chain of which they are a part. Inspired by

this Vision, driven by Values and powered by internal Vitality, your Directors and employees

look forward to the future with confidence and stand committed to creating an even brighter

future for all stakeholders.


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5.1 BIBLIOGRAPHY

1. www.fyrsta.org

2. http://www.mindtools.com/pages/article/newSTR_91.htm

3.http://en.wikipedia.org/wiki/Transcutaneous_electrical_nerve_stimulation

4. Marketing management by Philip Kotler millennium edition " BCG matrix " page no 176.

Project Report Premjith KARUNYA UNIVERSITY

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