PRINCIPLES OF MANAGEMENT By, Tracy Mary Riya Cherian Denzel Jacob Teslin Ranjan V Libni Mary Jacob Bony S Tharappel Thomas Varghese By, Tracy Mary Riya Cherian Denzel Jacob Teslin Ranjan V Libni Mary Jacob Bony S Tharappel Thomas Varghese MISSION AVENUE AVIATIONS HAS SET UP INNOVATION CENTRES TO COME OUT WITH THE LATEST AND MOST INNOVATIVE METHODOLOGY TO ACHIEVE IT TARGETS. VISION TO BE AMONG THE TOP 10 GLOBAL AEROSPACE SERVICE PROVIDERS BY THE YEAR 2020. ABOUT US AEROSPACE AND DEFENCE SERVICES. IT IS A $ 6 BILLION COMPANY. HEADQUARTERS AT BANGALORE, INDIA. CURRENT CLIENTS INCLUDE BOMBARDIER AIR, BOEING ETC TOTAL NUMBER OF EMPLOYEES 250 PROGRAM MANAGER DELIVERY MANAGER(NC) DELIVERY MANAGER DELIVERY MANAGER(NC) Technicians Technical Head Supervisors Senior Technical Consultants Team Lead Engineers DELIVERY MANAGER(DEsign) Technicians Technical Head Supervisors Senior Technical Consultants Team Lead Engineers VP HR and Administration Asst. Associates Recruitment Head Asst. Associates Compensations Head Asst. Associates Training Head Asst. Associates PROCESS OF HUMAN RESOURCE MANAGEMENT SCOPE FOR A&D SERVICE INDUSTRIES THE TOP 100 A&D COMPANIES SET RECORDS IN 2013, REPORTING $719 BILLION IN REVENUE AND $66 BILLION IN OPERATING PROFIT. THE SCOPE IN THE AEROSPACE SERVICE INDUSTRY IS CURRENTLY ESTIMATE OVER $800B FOR THE YEAR A SURVEY BY YUKON BUREAU OF STATISTICS BUSINESS SURVEY, FOUND THAT 85.2% OF EMPLOYERS OPT FOR WAGE INCREASES TO KEEP EMPLOYEES ON WHILE 58.4% OPTED FOR A BENEFITS PACKAGE. CREATIVE STRATEGIES THAT GO BEYOND PAY AND BENEFITS CAN BE EMPLOYED TO ATTRACT AND RETAIN EMPLOYEES RETENTION STRATEGIES PROVIDING A SUITABLE WORK ENVIRONMENT FOR THE EMPLOYEES. ARRANGING SURPRISES FOR EMPLOYEES ON THEIR BIRTHDAYS, ANNIVERSARIES ETC. MONTHLY BONUSES AND INCENTIVES BASED ON THEIR PERFORMANCES. DIRECT APPRECIATION FROM TOP MANAGEMENT FOR THE NOTABLE ACHIEVEMENTS OF THE EMPLOYEES. DISTRIBUTING CERTIFICATES IN RECOGNITON OF THE EMPLOYEES ACHIEVEMENT. CFO Financial Controller Division Managers Accounts Receivable Manager Accounts Payable Manager Payroll Manager Accountants ClerksAccountantsClerksAccountantsClerks FINANCIAL MANAGEMENT CYCLE FINANCIAL CAPACITY BETTER FINANCIAL MANAGEMENT CAN BE DONE BY ESTABLISHING A VIABLE CONTINGENCY PLAN ENSURE THAT CONTINGENCY PLANS ARE FORMULATED AND VIABLE IN THE EVENT OF NON- PERFORMANCE BY THE SERVICE PROVIDER. CREATE CROSS-FUNCTIONAL TEAMS, INCLUDING INTERNAL AUDIT, LEGAL AND THE BUSINESS UNITS, TO ENSURE A BROAD REPRESENTATION OF VIEWPOINTS AND TO ENHANCE INSTITUTION-WIDE SUPPORT. PERIODICALLY REVIEW, RENEGOTIATE AND RENEW THE CONTRACT. RESET TARGET SERVICE LEVELS ANNUALLY. NEGOTIATE A WRITTEN CONTRACT THAT IS OPERATIONALLY FLEXIBLE AND THAT CLEARLY ARTICULATES THE EXPECTATIONS AND RESPONSIBILITIES OF BOTH SIDES. FINANCIAL INSTITUTIONS VIEW OUTSOURCING AS A VALUABLE STRATEGIC TOOL THAT ENABLES THEM TO FOCUS ON CORE COMPETENCIES BY SHIFTING DIRECT OPERATIONAL RESPONSIBILITIES TO THE SERVICE PROVIDER AND GAINING INDUSTRY EXPERTISE. DIGITAL MARKETING BUDGET IS EXPECTED TO RISE AS ORGANIZATIONS MOVE MORE TOWARDS DIGITAL MARKETING ADOPTION. THEREFORE A SEPARATE RESERVE WILL BE PROVIDED FOR IT. SCOPE A&D SECTOR- US$1723B Global A&D Spending REVENUE HISTORY PROFIT COMMUNITY RELATIONS & MARKETING EXECUTIVE ASSISTANT CHIEF MARKETING OFFICER DIRECTOR Marketing DIRECTOR Marketing DIRECTOR Customer Experience DIRECTOR Customer Experience DIRECTOR International Marketing DIRECTOR International Marketing Partnership Marketing Sales & Marketing Analyst Trade Shows & Events Coordinator Public Relations Communication Coordinator Communication Coordinator MARKETING STRATEGIES THESE DAYS ONLY BRAND PROMOTION IS NOT ENOUGH, BUT CUSTOMER RETENTION IS EQUALLY ESSENTIAL. THEREFORE WE OFFER A WIDE SPECTRUM OF SERVICES THAT ARE AIMED NOT ONLY AT SELLING PRODUCTS BUT ALSO EDUCATING THE CLIENTS. OFFER PILOT PROJECTS WE INITIALLY OFFER PILOT EXPERIMENTS FOR AIRCRAFT MANUFACTURING AGENCIES. ONE OF THE IMPORTANT REASONS TO RUN A TRIAL OR A PILOT PROGRAM IN THE FIRM IS TO CREATE A FEELING OF TRUSTWORTHINESS AND ALSO TO ATTRACT SUCH AGENCIES AS THE BUSINESS SOLUTION IS COST-EFFECTIVE. DIGITAL MARKETING BRANDS CAN INCREASE MARKETING EFFECTIVENESS BY USING DIGITAL AND INTEGRATED MARKETING MORE EFFICIENTLY. SOCIAL MEDIA PROVIDES AN IMPORTANT CHANNEL FOR A&D SERVICE INDUSTRIES TO LISTEN TO CONSUMERS WITHOUT ANY BIAS. EVENT PROMOTIONS EVENTS ARE GREAT TO MEET NEW PROSPECTS, BUSINESS PARTNERS AND OTHER ASSOCIATES. WE CONDUCT CUSTOMIZED PROMOTIONAL CAMPAIGNS. OUR MARKETING TEAM MAKES INTELLIGENT USE OF ALL THE MEDIA AVAILABLE TO PROMOTE OUR EVENTS. WE KEEP OUR PROSPECTIVE CUSTOMERS INFORMED ABOUT WHAT IS HAPPENING AT ALL TIMES. WE REGULARLY ANALYZE OUR SERVICES AND IDENTIFY THE TARGET MARKET. WE THEN SEND CUSTOMIZED INVITES TO PROSPECTS FROM OUR HIGHLY ACCURATE DATABASES. PAY PER CLICK SERVICES A PPC CAMPAIGN IS ONE OF THE FASTEST AND MOST AFFORDABLE WAYS TO ADVERTISE A PRODUCT OR SERVICE ON THE INTERNET. IN THIS METHOD OF ONLINE ADVERTISING, ADVERTISERS PAY THE HOST COMPANY ONLY IF THEIR AD IS CLICKED ON. THIS OFFERS TOTAL CONTROL OVER THE ADVERTISING BUDGET AND WHEN COMBINED WITH CLEVER SEO STRATEGIES CAN GENERATE HIGH VOLTAGE TRAFFIC TO YOUR SITE. MARKETING RESEARCH MARKET RESEARCH IS A SURE FIRE WAY TO ELIMINATE UNCERTAINTY AND HELP ORGANIZATIONS CHOOSE THE BEST COURSE OF ACTION. OUR BUSINESS INTELLIGENCE CENTRE OF EXCELLENCE (BICE) TEAM IS CAPABLE OF PROVIDING END-TO-END RESEARCH & BUSINESS SOLUTIONS TO ALL OUR BUSINESS NEEDS.