INTERNSHIP REPORT

Submitted by
Adarsh Chourasia
Reg No: JLU03248

Under the guidance of

Mr. Pratik Bakshi
(Founder - Naxcent Consuting)

Submitted in Partial Fulfillment of the requirements

of Jagran Lakecity university for the award of the degree in
Bachelor of Business Administration – Strategic Finance

Jagran Lakecity Business School

Bhopal-462001

August 2020

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 ACKNOWLEDGEMENT

The internship opportunity I had with Naxcent Consulting was a great chance for
learning and professional development. Therefore, I consider myself a very lucky
individual as I was provided with an opportunity to be a part of it.

At the very outset, I would like to express my sincere gratitude to my advisor Mr. Ravi
Lakhani for the continuous support of my internship study for his patience, motivation,
and immense knowledge. His guidance helped me in all the time of internship and writing
of this report. I could not have imagined having a better advisor and mentor for my
internship study.

I also express my deepest gratitude and special thanks to my internship supervisor Mr.
Pratik Bakshi who being extraordinarily busy with his duties, took time out to hear, guide
and keep me on the correct path and allowing me to carry on my project at their
organization. His guidance, support and expertise have led to the successful completion of
my internship under him.

I also thank my parents who provided me with unconditional love and moral support which
helped me a lot in completing the task in an efficient way.

I perceive this as a big milestone in my career development. I will strive to use the gained
skills and knowledge in my best possible way and shall continue to work and improve to
attain desired career objectives.

Sincerely,

Adarsh Chourasia (2018BBASF001)

Jagran Lakecity Business School

Jagran Lakecity University

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 DECLARATION

I hereby declare that my summer Internship Report titled internship in Market Intelligence
Department of Naxcent Consulting under the guidance of Mr. Pratik Bakshi is an authentic
work done by me as a part of my study at Naxcent Consulting. The internship was
undertaken as a part of the course curriculum of BBA-H programme of Jagran Lakecity
University, Bhopal. This has not been submitted to any other examination body earlier.

Date: 25 August 2020

Adarsh Chourasia

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CERTIFICATE

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 TABLE OF CONTENT

Chapter No. Particulars Page No.

Chapter 1
Internship Objectives 6

Chapter 2
Executive Summary 7

Chapter 3
Introduction 9-10
Chapter 4
Industry Profile 11-14

Chapter 5
Company Profile (Naxcent Consulting) 15-20
Chapter 6
Experience/Observation 21

Chapter 7
Learnings and Challenges 22

Chapter 8
Conclusion 23

Chapter 9
Bibliography 24

Chapter 10 Weekly diary 25

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 I. INTERNSHIP OBJECTIVES

1) To learn the responsibilities and functions that supports the organization

2) To learn the intelligence-based skills.
3) To learn where should the company devote more resources.
4) To identify potential market.
5) To learn are there patterns of the customers.
6) To learn what products could be cross-marketed to our existing customers
7) To understand the types of business relations: B2B and B2C.

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 II. EXECUTIVE SUMMARY

I worked as a Business intelligence intern and my work was majorly focused on Market
Intelligence, my outputs were focused on assisting in developing a new arm of the
company and gathering intel which helped lay the foundation of the new extension of the
company. Naxcent consulting being a player in management consulting industry
provided many kinds of consultancy services, with that being said its main focus area is
marketing for law firms and lawyers pan India.

The new developing arm of the company will cater the higher education institutes,
providing various types of services and products such as providing courses and
conducting workshops for the students of the higher education institutes.

The aim of the interns was to research, gather intel, draft and ultimately create a database
of the target customers and sorting them according to their potential as a customer of the
firm while assisting in the ongoing projects in the organisation. We achieved this goal
and created an elaborate database of the universities in India. (Members of Association of
Indian Universities and a few other groups)

In theory, loosely defined, Business Intelligence refers to a management process

whereby a company can more efficiently execute its business strategies and track its
improvement processes. BI has been referred to as an ‘attitude’ that involves:

1. Understanding the strategic value of data captured from transactions across the
enterprise,
2. The organization, standardization and transformation of that data into information and
3. The central storage, analysis and presentation of that data to decision makers at the
speed of thought.
4. Allowing decision makers to analyse the data across multiple dimensions and
relationships,
All of this leading to faster decisions with better results. This BI process reaches
across all domains and allows business thinkers to ask questions that were impossible to
answer prior to the arrival of powerful hardware and analytics
And, Market intelligence is the process of gathering, organising, managing, digesting,
and finally delivering information with the aim of supporting a decision. A market
intelligence department active in the space between knowledge management and the
ultimate decision-maker.

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The scope of what market intelligence encompasses will vary from company to company,
for example covering strategy, marketing, technology or other areas.

• Market intelligence differs from business intelligence in that it tackles qualitative

information (text/news) rather than quantitative data.
• Market intelligence differs from social listening in that it targets topics rather than
brands and communications.

Depending on which topics it encompasses, market intelligence is also sometimes called

competitive intelligence or marketing intelligence. Generally speaking, these functions
are alike in technique, but pursue different goals.

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 III. INTRODUCTION

Internship Overview

I did my internship from Naxcent Consulting, Mumbai. I applied for this opportunity as
this appeared as a great opportunity to me as it was related to the Business Development
operations of the company developing a new arm of operations and I was always curious
to know how things are done when stepping into a new market. I thought of this as a
chance to learn about the important operations which are performed by various
departments in coordination with each other to make the whole organization run
smoothly.

I was assigned for the role of Business intelligence intern.

My duration for the internship was 2 months starting from 8th June, 2020 to 7th August,
2020. The geographical area for the internship was Mumbai, Maharashtra but due to the
ongoing pandemic restriction I was offered a virtual internship.

Scope of the study

My internship was all about learning by assisting various projects, gathering market intel,
identifying potential customers and maintaining a database of those customers. A team of
3 individuals was shortlisted for this internship through a virtual personal interview by
the founder of the company, Mr.Pratik Bakshi. I learnt about the importance of
teamwork, interpersonal relationships, time management and communication.

This internship taught me one of the most important skills that I needed to hone lacked
which is managing time effectively. I also got a chance to closely observe the marketing
campaign of the law firms and legal institutions and know the significance of marketing
in the legal industry too.

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Salient features

• Exclusive learning experience which is one of its kind if first opportunity

provided to the individuals to make productive use of their time summer break
and learn certain skills.

• An opportunity for the individuals of different streams to be part of an amazing

team working with and under the direct supervision of the founder of the
company.

• Exciting work culture catering to learning and taking initiatives for tasks and
duties of responsibility.

• Interns working in different categories of functions directed towards the

attainment of a particular objective making them learn essential team work and
management skills.

• Produced a database featuring all the target customers and the point of contact for
the new arm of the company.

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 IV. INDUSTRY PROFILE

Industry name – Management Consultancy - Marketing Agency - Lawyer & Law

firm -Higher Education

Management Consultancy:
Management consulting, often referred to as business consulting, is defined as “advisory
and/or implementation services to the (senior) management of organisations with the aim
of improving the effectiveness of their business strategy, organisational performance and
operational processes”. Management consulting is – due to the great diversity in
disciplines and differences in required capacities of advisors – the broadest area within
the consulting industry, and covers between 50% - 55% of the total consulting market.

Management consulting market:

The worldwide market for management consulting services is estimated to be worth more
than $130 billion, and represents just over half of the total global consulting market. In the
past years, expenditures on management consultancy grew at an average of more than 4%
per year, although the percentages have – in line with the economic recovery of
mature markets – been picking up recently. With a value of $70 billion, operations
consulting forms the biggest segment within the sector, while HR consulting and strategy
consulting are more or less the same in size with a value of just over $30 billion.
The typology used by Consultancy.in defines management consulting as the sum of three
service areas. Strategy consulting, the segment that focusses on strategic and board room
advisory; operations consulting, which focusses on improving the management of
organizations; and HR consulting, a segment that centers around human capital advisory
and/or consulting services aimed at improving the results of the HR function.

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Management consulting firms:

Since management consulting represents over half of the consulting industry, most players
in the market are either specialised management consultancy firms or organisations with a
business unit that offers management consulting services. In the case of the latter, it mostly
concerns large IT service providers (who often provide implementation support and
change management), recruitment firms (that often extend their recruiting and interim
services with HR advisory) or temporary employment agencies (who add upscale
consulting services to their temp and contracting portfolio). In terms of numbers, a large
part of the market consists of freelancers – freelance management consultants who are
active as independent advisors or contractors.

Management consulting has a lot of players below is a list of major players in India:

1. Comwiser Consultants
2. IndiaMart
3. GyaanMart
4. McKinsey & Company
5. Bain Consulting India Private Limited
6. Boston Consulting Group
7. Deloitte
8. Accenture
9. A F. Ferguson & Co
10. Arshiya International Limited
11. KVP Business Solutions
12. Liparat consulting
13. Bombay Center for Business and Strategy
14. Avalon Consulting
15. Alvarez and Marshall

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Current Trends in the management consulting industry

The massive management consulting industry continues growing, but not without pains.
It has yet to integrate big data or automate processes, making it scalable only so long as
qualified individuals continue to move into the industry. While 2018 and 2019 saw the
industry dip its proverbial toe into the waters of high-tech, it needs to enhance its
digitization in numerous areas in 2020 to continue its rather unprecedented growth.

A. Market Focus

As management consulting grows, it continues to split into two market divisions – one, a
low-cost, commoditized sector and, two, a high-value, specialized consulting sector. This
division forces each consultancy to devise ways to address both markets causing
transformation in the areas of business models, pricing structures and brand architecture.
B. Recruiting New Talent

Recruiting new talent continues to move from traditional top tier universities to focus on
skill sets. While a Bachelor’s degree continues as an entry-level requirement,
consultancies continue to look past only the top few schools’ graduates, instead of
investigating who has the top skillset. Recruiters discover people through presentations
and posters at relevant academic conferences and from those completing internships in
the area. As retention becomes an issue, consulting firms will continue to move from a
people to a product standpoint
C. Shift to niche market

Both a challenge and a trend, the management consulting industry continues moving into
niche market, this refers to them working with niche firms and other similar
consultancies. This takes many forms including large generalist firms partnering with
small niche specialists; management consulting firms partnering with consultants outside
the industry; consultancies partnering with academics, digital agencies and technology
companies.
D. Continued Education

Between changing business models, digitization, freelancers and SMEs entering the
competitive field, business management consulting continues to require new consultants
and analysts with developing skill sets. These individuals can continue to burgeoning
innovation in the field and meet the pace of technological change in the industry. All
individuals in the field must transition to a practice of constant education if they do not
already adhere to a continuing education mindset. This education relates to more than
their specific knowledge area and includes embracing new skills such as big data
analysis, data mining, data cleansing and data strategy.

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Future of Management Consulting Industry in India

The management consulting space is massive. Even if it were to shrink, there would still
be money for the people who know how to do it. That remark, though not particularly
insightful, will always be correct and evergreen. India has been globally recognised for
its speedy development, leading to an extensive expansion in the consulting sector. The
future of consulting is all about resilience and start up. The future of consultancies in
India based on the current and future prospects of the various sectors; will have critical
success factors.
Increased demand for consulting services by domestic and foreign firms’ sector in India
is consistently growing. Today, nearly all industries are undergoing massive change.
Rising opportunities due to booming economy and growing demand for consultancy
services are key factor for growth. The total market growth might slow down a bit, but
there will be considerable shifts amongst the market segments. Traditional management
consulting will stagnate and nearly merge with IT consulting. In general, there will be a
shift from traditional advice to implementation. This implies that clients will express the
wish that their consultants share more risks of the projects.
In a world of growing complexities, it is critical to ensure sufficient distribution of the
existing knowledge throughout the company. Large consultants will face structural
problems. This would limit their ability to raise capital and slow down decisions and
changes. Some might even consider going public due to enormous management
incapacities. This would be an opportunity for other players to enter some poorly serviced
fields. Also, small firms are consistently thriving by becoming exquisitely specialized.
They could network to fulfil complex needs which would enable them to become
medium sized consultancy on project basis.
Other changes will occur through new entrants. Attracted by the impressive market
growth, many non-consultancies will establish consultancy-divisions. An entry of sole
practitioners and small consultancies is expected. This wave of new entries will have dual
effects. An increase in the competition would be evident, leading to mergers and
acquisitions or breakdowns. And, since there are no legal regulations as to who can call
himself a consultant; there will be quality problems in some cases which could damage
the reputation of the whole industry.

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 V. COMPANY PROFILE (Naxcent Consulting)

Naxcent Consulting is a brainchild of Mr. Pratik Bakshi, located in Mumbai .it is a fairly
new management consultancy company established in 2018 but the people working at the
organisation are experienced and they are one of the best at what they do. They provide
business solutions for the lawyers, law firms and other legal institutions.

Type - Partnership

Established - 2018

Founder - Mr. Pratik Bakshi

Staff - 11-50 employees

Location - Mumbai, Maharashtra

Website - www.naxcent.com

Objectives of the company:

Providing Branding, communication and business development solutions for lawyers, law
firms and other legal institutions.

Legal Framework:
Naxcent Consulting is a partnership firm founded by Mr. Pratik Bakshi.

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Here are a few screenshots of the website (in which I assisted in the renewal by helping
designing elements of the website and providing inputs how can it be improved aesthetically)
(Home page)

(Home page)

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(Snapshot containing some well-known clients of the company)

(Capabilities of the firm)

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18
 ORGANIZATIONAL STRUCTURE

Mr. Pratik Bakshi

Founder

Mr. Siva Sankar Santhosh

Chief growth
officer

Mr. Harshit singh

bhatia

Business Analyst

Interns

Ms. Aishwarya Manjooran

Junior analyst

Other employees

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SWOT ANALYSIS:

Strength
• Quality of deliverables.
• Low operating expenses and huge profit margin because less investment is
required as compared to other businesses as no manufacturing expenses are
incurred and no inventory maintenance is required.
• High level of client satisfaction – the company with its dedicated client
relationship management is able to achieve a high level of client satisfaction
among present client and good brand equity among the potential customers.
• People that work in the Naxcent consulting, can be considered as a strength
because they are skilled, experienced employees with specialization qualification.
• Excellent Network of the company, having a vast network helps a lot. And more
importantly the company has the right contacts.

Weakness
• Limited success outside core business – which is Legal Marketing, even though
Naxcent Consulting is one of the leading organizations in its industry it has faced
challenges in moving to other product segments with its present culture.

Opportunities
• The expansion into the new market, the company is stepping into a new market
which is less explored by the other player. If all goes well, they can capture a
greater market share.
• New trends in the consumer behavior can open up new market for the company.
It provides a great opportunity for the organization to build new revenue streams
and diversify into new product categories too.

Threats
• Ongoing Pandemic, the new market which the company is thinking of stepping
in needs the Universities to be up and running. If the pandemic stretches its
timeline this could be threat for the company’s revenue stream.
• Economic downfall and decrease in client spending,
• High inflation rate – The high inflation rate decreases stability in the market,
• Rapidly increasing costs and growing competition is the biggest challenge.

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 VI. EXPERIENCE/OBSERVATION

I worked as a Business intelligence intern and my work was majorly focused on Market
Intelligence, my outputs were focused on assisting in developing a new arm of the
company and gathering intel which helped lay the foundation of the new extension of the
company. Naxcent consulting being a player in management consulting industry
provided many kinds of consultancy services, with that being said its main focus area is
marketing for law firms and lawyers pan India. I used to assist on different ongoing
projects too and tasks like helping in improve the website of the company.
The new developing arm of the company will cater the higher education institutes,
providing various types of services and products such as providing courses and
conducting workshops for the students of the higher education institutes.
-Key area/job description
The key area of the internship was business intelligence with market intelligence as my
core working area, and the aim of the internship was to research, gather intel, draft and
ultimately create a database of the target customers and sorting them according to their
potential as a customer of the firm while assisting in the ongoing projects in the
organisation. While assisting the various projects of the firm, I was given small tasks
such as making presentations of the given data, communicating with the client and
preparing pictorial representations for the major presentations. We achieved the goal of
the internship and created an elaborate database of the universities in India.

-KRAs

1) Assisting the ongoing projects.

2) Identify potential market.
3) Identify potential customers.
4) Create the database of potential customers.
5) Establish relations between the potential customer and the firm

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 VII. LEARNINGS AND CHALLENGES

Learnings:

1. I learnt about various techniques to gather intel, organising the data and
presenting the data. While assisting various projects I had to use various
software’s like MS Office, Canva, etc. for creating presentations, which
ultimately helped me improve my technical skills.
2. I learnt how to get the assigned work done within the stipulated time. Time
management proved to be an important lesson that will be helpful throughout my
life.
3. I learnt that in order to complete some tasks, risk taking and risk management are
required. My internship was in the middle of the pandemic, which had us
confined into our homes at certain times I had to step out in order to get the
important tasks done.

I learnt how to deal with different kinds of people, while talking to the employees at
Universities, students and parents. During my internship at Naxcent Consulting, there
were so many occasions I had to talk and deal directly with people, some of them were
easy to tackle but a few of them proved to be unreceptive, during my time at this
organisation I learnt to deal with those kind of people to which will definitely help me in
my everyday life and in the path of my career too.

Challenges:

1. Ongoing pandemic.
2. Virtual interaction with the people
3. Working from remote location
4. Technical Problems like server crashes and data loss.

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 VIII. CONCLUSION

The 8-week Internship/ training that I undertook in Naxcent consulting has been very
productive and proven very helpful and knowledgeable experience although My
internship could’ve been more meaningful and fun if it was an office going internship
rather than a work from home internship. Nevertheless, I came to know various aspects,
procedures and formalities that are taken care of in an organization. My internship was an
amazing experience. It taught me various lessons related to not only my field of study
that is business management but also about life.
1. While working as a Business Intelligence intern, I learnt various
management and research-based skills which played a significant role in
helping the ongoing projects and future prospects of the company. The
most important one was intelligence gathering and converting that intel
into useful data.

2. Theoretically I have read and heard about the B2B and B2C terms in
business but working at Naxcent Consulting as an intern taught me about
the practicality of these terms.

B2B that is Business to Business relations: I was responsible for

establishing connections with the various universities of the country.

B2C that is Business to Customer Relations: Dealt directly with the

customers which were the students and their parents aspiring to take
different courses. This helped me to learn the importance of good and
clear communication and presentation.

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 IX. BIBLIOGRAPHY

1. Cornish, S. L. “Product Innovation and the Spatial Dynamics of Market

Intelligence: Does Proximity to Markets Matter?” Economic Geography.
Volume: 73, Issue 2 (April 1997)
2. Prescott, John and others, Proven Strategies in Competitive Intelligence (Wiley,
2001)0
3. https://www.business2community.com
4. https://www.insightssuccess.in/
5. https://www.consultancy.in/

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 X. WEEKLY DIARY

Week Task & activities during the week Key Observations & Learnings during the week
Week-1 (8 Identified and maintained the database of
June -14 potential customers(uni/colleges) and their point The value of hierarchy in the field of educational
June) of contact for the firm's expansion division institutions, Building B2B relations
1. Identified and maintained the database of
Week-2 potential customers(uni/colleges) and their point
(15 June -- of contact for the firm's expansion division
21 June) 2.Called different colleges The needs of every customer are not same
1. Identified and maintained the database of
Week-3 potential customers(uni/colleges) and their point Protocols of different organisations may vary
(22 June- of contact for the firm's expansion division drastically and we should learn to adapt when
28June) 2.Called different colleges interacting with them to cater their needs/wants
1. Identified and maintained the database of
potential customers(uni/colleges) and their point
Week-4 of contact for the firm's expansion division We should have a dynamic approach and be open to
(29 June - 2.Called different colleges changes in our deliverables when developing our
5 July) 3.contacted students for reviews of colleges. product.
1. Identified and maintained the database of
potential customers(uni/colleges) and their point
Week-5 of contact for the firm's expansion division
(6 July- 12 2.Called different colleges
July) 3.contacted students for reviews of colleges. You cannot always please every potential customer
1. Identified and maintained the database of
potential customers(uni/colleges) and their point
Week-6 of contact for the firm's expansion division
(13 July- 2.Called different colleges
19 July) 3.contacted students for reviews of colleges. Learnt to deal with unreceptive people

1. Identified and maintained the database of

potential customers(uni/colleges) and their point
Week-7 of contact for the firm's expansion division
(20 July- 2.Called different colleges Whatever may be your personal problem work never
26 July) 3.contacted students for reviews of colleges. stops
1. Identified and maintained the database of
potential customers(uni/colleges) and their point
Week-8 of contact for the firm's expansion division
(27 July- 2 2.Called different colleges
August) 3.contacted students for reviews of colleges. Learnt about various ways of gathering Intel
1. Identified and maintained the database of
potential customers(uni/colleges) and their point
Week 9 (3 of contact for the firm's expansion division
August - 8 2.Called different colleges learnt about the interpersonal relationships in an
August) 3.contacted students for reviews of colleges. organisation

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