Shakeel & Brothers Fsd

Table of Contents
Table of Contents...................................................................................................... 1 Executive Summary:.................................................................................................. 3 This report gives a profile of Usman Shafique Enterprises and an insight to analysis of Usman Shafique Enterprises in terms of operations, finance, human resource and marketing. This report also reflects my learning and experiences at USE along with my responsibilities and the tasks that I performed. Last part of the report consists of some recommendations and suggestions that I have given..................................3 Organizational structure with departmentalization:..................................................5 Products:................................................................................................................ 5 Competitors:........................................................................................................... 5 Position and description of Duties:............................................................................ 7 Marketing Department:.......................................................................................... 7 Sales/Purchase Department:.................................................................................. 7 Accounts & Finance department:........................................................................... 8 Special Project:....................................................................................................... 8 Organizational Analysis:............................................................................................ 9 External threats:................................................................................................... 12 Identification of main problem:............................................................................ 12 Recommendations:.................................................................................................. 13 Learning Outcomes:................................................................................................ 14 The internship at USE also gave me chance to experience a professional lifestyle which made conscious about the way I managed my time, negotiated my interests, interpreted orders, and owned my responsibilities..................................................16 References:............................................................................................................. 18 Annexure................................................................................................................. 19

Shakeel & Brothers Fsd

Shakeel & Brothers Fsd

Executive Summary:
The first brick in the advancement of my career was the internship in a Industrial trading company, Usman Shafique Enterprises. It was an experience that has enabled me to reduce the discrepancy between theory and practical work. This experience although was a short period of ten weeks, the learning outcome of it was much greater than I expected. In the year 2011, I was recruited as an interne in Usman Shafique Enterprises in Faisalabad. The internship was project oriented in which I had to formally handover and present to the department on its completion. The value I carry away from this organization is immense; it has helped me decide major decisions in my academic career. The internship has helped me understand the dynamics of a professional environment. This report gives a profile of Usman Shafique Enterprises and an insight to analysis of Usman Shafique Enterprises in terms of operations, finance, human resource and marketing. This report also reflects my learning and experiences at USE along with my responsibilities and the tasks that I performed. Last part of the report consists of some recommendations and suggestions that I have given. It was a great opportunity for practically implementing the theoretical concepts that I had learned in the classroom. What I learnt at USE over the weeks was how to get along with the people that I have to work with everyday, building relationships with people, building confidence and improving my communication skills. The experience has taught me responsibility, teamwork and how to handle people in tough social situations. Even though the nature of work was quite basic as an internee, nevertheless I got to see what practical life is. This internship overall has been a great experience.

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Company overview:

USMAN SHAFIQUEUE ENTERPRISES 1ST Floor, Bazar Court Sarena Hotel, Faisalabad. E-mail: use@brain.net.pk shafiq@usmanshafiq.com

Usman Shafique Enterprises is a partnership firm and has been working from last twelve years. The company has been dealing in textile related products. Mainly the company is dealing in different counts of Yarn & Polyester and different kinds of Fabric (Dyed cloth, Grey cloth and printed cloth.) the company is well reputed in local textile industry and market in Faisalabad. Mian Usman belongs to well reputed business family in Faisalabad. Mr. Usman have vast knowledge in textile field and due to hid interpersonal skills in textile trading company shows a remarkable growth throughout the years Mian Shafiq-ur-Rehman also belongs to reputed business family in Faisalabad and have experience in textile yarn market in Faisalabad. He have a ability to predict the future prospects of yarn market. The companys remarkable growth from last ten years shows the dedication of the directors and company earns a hand some profit.

Shakeel & Brothers Fsd

Organizational structure with departmentalization:

Director

Director

Senior Marketing Officer

Accounts and Finance Officer

Senior Marketing Officer

Accounts and Finance Officer

Sales officer

Sales officer

Products:
Deals in different counts of yarn and polyester. Deals in different types of Fabric

Competitors:
Faisalabad Yarn Market traders: Sajad Bhola yarn trader Qadri enterprises Irshad Jhangvi yarn and cloth trader
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Qasim Bota yarn and cloth trader Yasir trading company Ameer Enterprises etc.

These are the main market players of Faisalabad yarn market. Despite of tough competition in textile trading market company produces fruitful results and gaining market share day by day.

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Position and description of Duties:

I was internee in Usman Shafique enterprises and work there in different departments. Marketing department Sales/Purchase department Accounts and Finance department

Marketing Department:
I worked with their Marketing officers for five weeks in field. I visited yarn market, cloth market and other related textile units in Faisalabad like AA spinning Mills, Hassan Spinning Mills, Rafique Spinning Mills etc. During field work I gain a lot of knowledge about the mechanism of the textile machinery and also gain knowledge about textile trading. I also visited weaving units in Faisalabad during my field work and got to know about all the processes of manufacturing and selling of cloths.

Sales/Purchase Department:
I worked with their sales team for about two week. I visited with their sales team in yarn and fabric Goodoumns in different locations. We maintain stock registers, purchase order sheets. I gain also knowledge of different counts of yarn and fabrics. We maintain inward and outward inventory of yarn and fabric. Company uses a local software for its record keeping and I worked on that and entered data for them.

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Accounts & Finance department:

I worked with their accounts and finance manager for three weeks. I maintained the receipts and the payment vouchers. I also worked on the suppliers and buyers accounts and maintain other records related to office work. They use local software to maintain their office accounts and bank accounts. Company has different accounts with different banks for payments and receipts from their clients.

Special Project:
I was assigned a special project which was to transfer of companys data from their manual system to computerized system. Company is using local software and I recorded the transaction of the company in that software from the year 2004-08. This project was assigned to me during my last week of internship and I did it very well and appreciated by my immediate supervisor.

Shakeel & Brothers Fsd Organizational Analysis:

Internal potencies: The vision of Usman Shafique Enerprises is to achieve maximum market share gain maximum customer satisfaction through their quality products and exploration of new markets for business expansion. Directors of the company have vast experience in the textile sector that helped them a lot to make important decisions regarding business concerns which helped them in market expansion as they initially started only with yarn trading but with passage of time they made good strategy for expanding their products from yarn to polyester and different kinds of fabric. The director belongs to well reputed business family in Faisalabad and have good contacts in the business circle of textile industry. At current stage the total investment of company is approx. 250 million. Internal Deficiencies: Company is working for about last twelve years in Faisalabad and they still looking for new markets like Multan, Lahore and textile related areas, they have working capital for capture other markets but due to lack of proper utilization funds they are facing some hindrances to meet their targets.

A five-year textile policy unveiled by government and offers about Rs87 billion cash subsidy to the textile and clothing sector to boost exports. It envisages plans to boost textile exports to $25 billion from the current $17.8 billion by 2014. The hefty package for the sector carries special duty-drawback rates, besides repayment of earlier research support, subsidy on long-term financing loan and development and other subsidies.

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Under the new policy, the textile industry has been exempted from load shedding. It will also enjoy priority in gas allocation like the fertilizer sector. An amount of Rs2.5 billion has been allocated to make export refinance available at five per cent. An amount of Rs44 billion as special drawback rates will be provided to value-added textile exports for two years Rs17 billion in 2009-10 and Rs27 billion in 2010-11. The proposed rates include one per cent of the FOB value of exports on processed fabric, two per cent of the FOB value on home textiles and three per cent of the FOB value on garments. In addition, exporters achieving an increase of 15 per cent will get one per cent additional drawback. Another Rs5.4 billion has been earmarked for earlier refunds of research and development subsidy for the sector. Another Rs5 billion has been allocated to convert long-term loans on the same pricing as applicable to the LTTF scheme together with a grace period of one year on both existing and converted facilities, without the facility of refinancing. Textile machinery will be zero rated. The government plans to treat local sales of yarn and fabrics to large exporter as deemed exports. For this purpose, small producers will get one per cent drawback on levies and unadjusted taxes on sales to export houses which will cost Rs2 billion. The government has set a target to increase the rate of conversion of cotton from $1,000 to $2,000 over the next five years. A textile investment support fund and technology up gradation fund (UTF) will be set up. An amount of Rs1.6 billion has been allocated for the UTF for the first year. However, this fund will go up to Rs17 billion by 2014. Under UTF for capital intensive projects, the government will pick up 50 per cent of interest cost of new investment in plant and machinery with a maximum of five per cent. For small investments, government will contribute up to 20 per cent of capital cost as a grant. An amount of Rs1 billion has allocated for skill development initiatives. A comprehensive training plan will be worked out.

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The principle of cascading will be implemented while ensuring adequate protection to the local industry and removing anomalies. All regulatory bottlenecks will be removed. Market access will be increased through free trade agreements. The government will provide necessary support for branding, grading, labeling and other activities that would add value to the textiles chain. An insurance scheme will be introduced to protect local exporters from unforeseen losses and help the industry in IT-related issues.

The policy will focus on certain sub-sector issues from fiber to garments, including ginning, spinning, weaving, knitting, processing, fashion designs, handloom and handicrafts, carpets, technical textiles. Specific schemes will be launched, mostly on public-private partnership basis, to upgrade and improve these sectors. The persistent problem of contamination and trash content will be addressed through enforcement of the standards laid down in the Cotton Control Act and Cotton Standardisation Ordinance. Measures will be taken to develop other vegetable fibres (jute, flax etc.), wool and sericulture for supporting diversification within natural fibres. A ginning institute will also be established in Multan to undertake research in improved ginning methods. Similar initiatives will be taken in other cotton growing areas.

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External threats:
Currently the economic situation of the country is not stable and it directly affects the economy of the country thats why businesses in the country facing depression. The political instability is the biggest threat for the company. As the company is dealing with products who share a major portion in the GDP so it creates stress on the firm effectiveness. Energy crisis are also among the main threats in productivity of the company. Suppliers are unable to supply the material to the company on time which causes delays in their consignments and this thing affecting companys image in market. Security threats are big issue now days for every business. Company some times facing problem in meeting their clients whose head offices are in Lahore and Islamabad.

Identification of main problem:

The main problem in the company is they still working in traditional manner. They are not using modern knowledge and techniques in their business transactions and to retain their clients and they are not working on their business expansion. They still working with in the same market and same clients for many years.

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Recommendations:
Usman Shafique Enterprises should explore the new markets for the expansion of their business as the competition in the current market is very tough. They should introduce new techniques in business; it will help them in gaining market share. Most of the businesses in current market regarding to textile sector needs sales budgets and sales forecasting but currently the company doing all this in traditional way they are not using new techniques and models. They can improve all this by introducing these modern ways in their business. They should consult to some business consultants about this and it help them in gaining market share. They should conduct training sessions for their employees to enhance their productivity and increase their motivational level by giving them incentives. Such system should be designed that every employee who has some problems with his supervisors can communicate it to the higher management and some steps must be taken to improve that. The organizational culture should be revamped; the employees need to remind they are valuable assets of the organization so they are motivated to work. Each employee should be able to own his own ideas and contributions so that he/she may be credited for it. All the employees in the department are over-burden with work and responsibility. The finance operations and development department requires more employees.

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Learning Outcomes:
What was accomplished through the affiliation? This internship is practical form of what I learn through out my studying carrier, and I have learned a good experience during my internship in the Usman Shafique Enterprises. It was a great chance for me to see the application of theoretical concepts, which I learnt through books and my teachers. During internship, many times I faced great difficulties to understand the new terms on the relevant subjects but with the grace of God I applied my full knowledge, which I had obtained from my teachers and thus became able to understand the function of the whole institution successfully. The cooperation of the concerned staff of the Usman Shafique Enterprises with the internees was very appreciable. The best part was working in field because in field work I understand the norms and culture of Pakistani market which are quite different which we study in our books. I learned how to interact with different clients what are the market tactics and how to create influence of your words on others. Most of the market players are unaware of modern ways of communication and we have to use lay man language with them. I visited different textile units during field work and interact with different of personalities and got to know about their entrepreneurial skills and effective decisions. I met with Sheikh Mukhtar owner of five industrial units and Allied bank ltd, Bhola Bassi known as the main player of Faisalabad Yarn market. Field work was the best part because it helps a lot in learning the business studies and universities should include these kinds of activities in their courses because student learns a lot in natural environment. Internship in textile trading company is the best way for me to get exposure of local markets as a lot of field work was done by me and it gives me the knowledge of textile products and processes.

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Working in accounts department was also very good experience, but the only problem was they do not have a good record keeping system as they collect the vouchers and make the record in a register and shifted this data to computer software normally on weekly basis and they are using a very old version of some local software. While working with Usman Shafique Enterprises, I learned practical knowledge of the business world. I find it interesting to relate my bookish knowledge with the practical things and is now able to understand the local market structure. Through my internship I have learned a lot related to myself as well as the work environment in the corporate sector of Pakistan. This internship has enhanced my personal skill set and enabled me to reduce the gap between theory and practical work. To begin with it has enhanced my confidence due to which now, I believe in my abilities. Today I can communicate to my peers, colleagues all because of the duration spent in USE. My interpersonal skills have developed immensely. Owing to the project at the internship I am able to understand the psychology of the corporate world and understand exactly what kind of information is required. The manual constructed and compiled by me has improved my documentation skills and has helped me understand how book keeping is done through financial software. Working in a team of eight permanent employees I also faced some issues related to discrimination and work ethics due which I can handle such situations in an appropriate manner. Due to the bureaucratic system of our market I was able to experience a system which I have never worked in before. The system has a set number of steps to follow which make procedures and regulation definite and lengthy. Improve my presentation skills in front of an audience of a relatively different size of a general class.

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The internship at USE also gave me chance to experience a professional lifestyle which made conscious about the way I managed my time, negotiated my interests, interpreted orders, and owned my responsibilities. The facets of your responsibilities that you liked/disliked and why?

The aspect of responsibilities I didnt like was that there was a very little room for innovation and creativity as I was to document the set patterns already being followed. Another aspect was internships at times didnt feel mutually beneficial as it was delivering a document which was something we are to make every week in our university, as result at times my motivation level used to decline due the lack of appreciation .The other aspect was that there was no sense of ownership for my ideas presented to the team, although they were liked but not owned by me. How efficiently did you apply the theoretical knowledge gleaned from your courses to the practical situations confronted during internship?

Many times during my internship I was able to develop linkages between our theoretical knowledge with the practical situations. The accounting and Finance courses were helpful in understanding the logical and financial implications of each activity performed by each sales unit of the company How was this internship destined to impact your career advancement?.

This internship was a building block towards my career development. It is the first step towards achieving my goal to become a professional marketer. It has enabled me to learn by practically becoming a part of a corporate entity and adapting to the nine to five lifestyles. The internship enabled me to decide what I actually desire to achieve from my career and where I want to see myself in my professional life. The culture of the organization unfolded many aspects of my personality and enabled me to figure out my expectations from a workplace environment. Any other comments you would deem appropriate and relevant.
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Personally I think that all students should be proactive to do internships during the entire course of their bachelors program, I believe that students like me who were confused as to which subject to pursue as their majors should try to work in different departments so that they get a clear picture of their aptitude

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References:
http://www.cssforum.com.pk/general/discussion/41983-pakistan-s-new-textilepolicy-2009-2014-a.html http://www.aptma.org.pk/Aboutus.asp

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Annexure

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