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AN ORGANIZATIONAL STUDY OF M/s FORTUNE ELASTOMERS PVT LTD

Organization study report submitted in partial fulfillment of the requirements for the MBA (full time) Degree of the Kerala University Fisheries and Ocean Studies

Submitted By

SHANUJ. A.V SME -2012-21-32

MBA -2012

KERALA UNIVERSITY OF FISHERIES AND OCEAN STUDIESPanangad, Kochi-682506

JUNE 2013

DECLARATION

I hereby declare that the organization study reportof M/s FORTUNE ELASTOMERS PVT LTD is a record of bona-fide work done by me in M/s FORTUNE ELASTOMERS PVT.LTD during the period of one month under the supervision of Mr. V. ABDUL RAZAK, chairman, VKC division 2 and Ms. SAHILA,Asst. Manager HR &AdministrationofM/s FORTUNE ELASTOMERS PVT LTD and Prof Dr. AMBILI KUMAR, School and management and entrepreneurship, Kerala University of Fisheries and Ocean Studies, and that no part of this report has formed the basis for award of any degree, Diploma, Associate ship, Fellowship, or any other similar title or recognition in any other institution

Place:PANANGAD SHANUJ. AVDate: 07/06/2013

ACKNOWLEDGEMENT

I owe a great many thanks to a great many people who helped and supported me in conducting the organization study at M/S FORTUNE ELASTOMERS PVT LTD.My deepest thanks to Prof. Dr.Ambilikumar, faculty member,KUFOS for guiding me with attention and care.My deep sense of gratitude to Limited.for his support and guidance.Also I extent my thanksto Mr. V ABDUL RAZAK ,chairman, VKC division 2 and Ms.P Sahila,Asst.manager HR and administration,M/S FORTUNE ELASTOMERS PVT LTDand appreciation to the helpful people in the company for their support in doing the project.

SHANUJ AV

Table of Contents

Sl. No.TitlePage

1Industrial Profile4

2Company Profile13

3Departmentation20

4Swot Analysis45

5Conclusion48

6Bibliography49

List of Tables

Table No.Title of the TablePage No.

1Global Footwear Consumption (2012)8

2Global Consumption Over 13 Years8

3Global Consumption per Capita Over 13 Years9

4Exporters OF Footwear10

List Of Figures

Figure No.Title of Figure Page No.

1Organisation Chart21

2Production Department22

3Packing Process25

4Marketing Department 26

5Channel of Distribution28

6Finance Department32

7Human Resource Department 38

8Recruitment Process40

CHAPTER - IINDUSTRY PROFILE

INDUSTRY PROFILE

Nowadays, footwear has become as absolute necessity rather than fashion for civilized people. The demand for footwear is increasing day by day. Depending on the purchasing power, different classes of people use different type and quality of footwear. The middle and lower income groups prefer low cost, durable, wear and tear resistant footwear, which can be used in all climatic conditions. VKC footwear emerges as the obvious choices which satisfy all the above requirements. The increasing popularity of VKC chapels in south India and other parts of country, is assuming good demand for the product in future.

As a result of rapid economic development taking place in our country, increase in population, increase in awareness of hygiene among the people and above all the absolute and continuing necessity for footwear in general and VKCchappals is bound to increase considerably. VKCchappals is an economic substitute for leather footwear the people in rural and urban area use VKCchappals throughout the year, since it is suitable in any type of terrain and weather conditions.

Manufacture of VKC footwear was taken up in 1984 August 17 and it gained momentum in 1984. Initially plant and moulds were being imported, generally of multi-station type. 1989 the production increased to 5000 pairs aday.By 1996 it jumped to 17000pairs. Although the capacity creation was restricted due to shortage of raw materials, additional capacity continuous to be created to with indigenously available two station machinery and moulds. The capacity at present is estimated at over 100 million pairs per annum.

Full VKC footwear (chapels, sandals and shoes) are popular in Indian market due to its cheapness, durability and easy maintenance and common man can afford to buy. Raw materials that are VKCcan again be used for making cheaper type of footwear.

HISTORY OF FOOTWEAR There are evidences which show that the history of the shoe starts in 10,000 BC, that is, at the end of the Paleolithic period (paintings of this time in caves in Spain and in the south of France make reference to the footwear). Among the utensils of rock of the men of the caverns there are several that were used to scrape the skins, which indicate that the art of tanning is very old. In the Egyptian hypogeum (underground chambers used to multiple funerals), whose age is between 6 and 7 thousand years, paintings were discovered representing the various stages of the preparation of the leather and the footwear. In cold countries the moccasin is the protector of the feet and in hotter countries the sandal is still the most used. The Egyptians sandals were made of straw, papyrus or of palm fiber.

Its known that only the noblemen of that time owned sandals. Even a Pharaoh as Tutancamon paved footwear as sandals and simple leather shoes (despite the ornaments of gold). In Mesopotamia it was common raw leather shoes tied to the feet by straps of the same material. The boots were symbol of high social status. The Greek introduced new fashion as different models for right and left feet. In Rome the footwear indicated the social class. The consuls wore white shoes, the senators wore brown shoes moored by four leather tapes tied with two knots and the traditional footwear of the legions was the short boot that uncovered the toes.

In the middle age, men as well as women wore leather shoes whose form was similar to the ballet slipper. Men also wore high and short boots tied in the front and in the side. The most current material was the cow skin, but the upper quality boots were made of goat skin.

The standardization of the numeration is of English origin. The king Edward (1272-1307) was the first to uniform the measures. The first reference known of the manufacture of footwear in England is of 1642 when Thomas Pendleton provided 4,000 pairs of shoes and 600 pairs of boots to the army. The military campaigns of this time initiated a substantial demand for boots and shoes. In the middle of the 19th century the machines that helped in the confection of the footwear began to appear, but only with the sewing machine the shoe started to be more accessible. From the fourth decade of the 20th century on, big changes in the footwear industries began to happen as the change of the leather by the rubber and synthetic materials. Mainly in the female and infantile footwear. Probably the Pendletons employees made the shoes from the beginning to the end.

STRUCTURE OF WORLD FOOTWEAR INDUSTRY

Global Consumption

It is axiomatic to say globally, the footwear industry has an expanding market. World population increases, living standards rise, so does the demand for footwear. The following charts published by SATRA (Shoe and Allied Trades Research Association, UK) show the trends. The largest market for footwear in terms of pairs is Asia including the Indian sub continent. The figures for global footwear consumption (2012) and forecast to 2008 are as follows:GLOBAL FOOTWEAR CONSUMPTION (2012)

RegionMillions of pairsTotal

China2,76822.2%

Asia270621.7%

Europe254420.4%

N&S America238119.1%

Africa11729.4%

S.America8987.2%

Total12469100%

Table No. 1

GLOBAL CONSUMPTION OVER 13 YEARS

CONSUMPTION(Millions of Pairs)20032004200520062007

ASIA4,7445,2225,4745,8406,528

AMERICA 30113274327934333611

EUROPE22392396254427172886

REST OF WORLD10861187117213171399

TOTAL1108012079124691330714424

Table No.2

GLOBAL CONSUMPTION PER CAPITA OVER 13 YEARS

CONSUMPTION(Millions of Pairs)20082009201020112012

ASIA4,7445,2225,4745,8406,528

AMERICA 30113274327934333611

EUROPE22392396254427172886

REST OF WORLD10861187117213171399

TOTAL1108012079124691330714424

Table No. 3

In the year 2012 the following was the market in financial terms for exporters of footwear, i.e. the major importing areasEXPORTERS OF FOOTWEAR (2012)

RegionUS$ 000% OF WORLD

China23,362,09150.15

Asia15,718,58533.74

Europe4,256,8419.14

N&S America1,022,4232.19

Africa903,8731.94

S.America689,6751.48

Australia629,1061.35

Total46,582,594100.00

Table No. 4

The market in monetary terms shows a different picture with Asia laying a poor third behind Europe and North America, reflecting the degree of sophistication in each market. China produces and exports more shoes than any other country by far. It is also the biggest consumer of footwear by virtue of the size of its population. On the other hand its per capita consumption is low on a par with developing countries. A further breakdown of the major consuming countries and areas is as follows:

INDIAN FOOTWEAR INDUSTRYThe footwear sector is a very significant segment of the leather industry in India; rather it is the engine of growth for the entire Indian leather industry. India is the second largest global producer of footwear after China, accounting for 13% of global footwear production of 16 billion pair

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