The SWOT approach is distillation of the steps & considerations that should be taken to formulate an effective strategic plan. The terms SWOT is the acronym for Strengths, Weakness, Opportunities & Threats.
STRENGTHS:
• KEC is one of the rare units in the world which produces the high voltage AC/DC Motors & Generators.
• Management is very stable, that forms strong foundation for the company
• The company has got the ISO certificate for producing quality products
• Well equipped quality control department for inspecting the quality of incoming raw materials & final products
• Employees are being provided with all necessary welfare facilities
• There are highly skilled & committed employees
• Company guarantees job security to all its employees this makes them to be more committed & loyal.
WEAKNESS:
• Under utilization of the resources
• As the company provides job security the employees have become less productive
• Less coordination between different departments
OPPORTUNITIES:
• The company has an opportunity to expand its production units due to more demand for its product
• The company has got better tool for better planning & decision making
• The company can establish more branches across the globe
• There is a growing demand for motors & generators in other developing countries.
THREATS:
• Cost of production is very high
• The company faces competition from MNCs
FINDINGS
• Strength of KEC is its Brand Name
• KEC is willing to take up any challenges customization project & successfully implement it
• Advertisement costs are too less because they manufacture the products based on the orders
• Kirlosker electric co, has ISO, KEMA, CE & NVLAP certifications
• Quality assurance department is maintaining the quality of the product & it has become basis of competition with other companies
• Company is eco friendly, they recycle the waste water & reuse the same water for their daily use like washing & gardening
• They have well integrated SAP & use data base like ORACLE or other RDBMS that co-ordinates & connects various information of different departments, hence it provides ready information to the top level management to take immediate decisions
• The ready acceptance of Kirlosker Electric products in USA, Europe, Canada, Hongkong, Australia, China, Singapore, South Africa, Malaysia, Pakistan &
Bangladesh along with the effort to earn certification like world’s leading company.
• Manufacturing cost to be lowered by improving productivity
• An extensive & effective marketing strategy needs to be carried out by the company
• Employee satisfaction & retention of manpower should be checked & ensured
• Company can encourage more women employees
• Provide sign boards within & outside the company premises to facilitate easy identification of the department
• Can improve the infrastructure of training & development centre in order to provide better environment for the learners & trainees.
CONCLUSION
The company has been pursuing its fascination with future since the year it was established.
KEC began its endeavour by catering to the needs of domestic market & slowly & steadily expanding its activities by exporting to countries like USA, Canada, Hong Kong etc. Due to increasing demand for its quality products which are ISO certified. The quality is maintained with strict attention to every small aspects from raw material procurement, manufacturing processes to the final product dispatch. A meticulously planned & strictly followed quality assurance program which helps in establishing KEC’s quality criteria that accommodates product design, manufacturing, testing & statistical monitoring. The company has very good personnel department wherein the employees are given appropriate bonus, promotion &
extensive care is taken by providing required training & motivation as & when required. The organization follows autocratic type of leadership style & the decision making is centralized.
Therefore, the company being highly established from years has very good future in terms of expansion, diversification, collaborations, growth & development prospects & opportunities.
It has a strong customer base; good positioning in the market, goodwill & reputation earned due to its quality products & finally always believes in power of now leading to more success
& achievements year after year.
The in-plant-training for a period of 6 weeks has given me a clear- cut idea of an organization working. This has helped me in recalling the theoretical concepts learnt in 1st year MBA &
relating it with real working & applicability in life. It is also helping me in learning management concepts of 2nd year MBA. I came across many real problems faced by organization in day to day activities such a technology human management & physical resource management to overcome the problems by combined efforts of all the related departments. Thus management is the accomplishment of results through efforts of peoples.
During the 6 weeks, it was totally a new experience entering into the organization & spent most of the time visiting various departments, interacting with people etc. In the beginning of the training, I went to different production sites where the assembling of the material is taking place.
There I understood as to how the production work is divided & how the responsibility is
importance of each department & their contribution towards the achievements of the company objectives. I came to know the importance of managerial knowledge such as planning, organizing, directing, controlling & decision making in all day-to-day departmental activities.
I also learnt the importance of time management that is a key parameter for any organization towards the success path. It was really fruitful & great experience working in the organization like KIRLOSKER ELECTRIC CO LIMITED, which is of great repute in the electrical industry.
Finally, the training period in the company was a wonderful small time experience in the huge corporate.
BIBLIOGRAPHY
Books referred:
• Ashwathappa K, Human Resource Management
• Kotler Philip & Gary Armstrong, Principles of Marketing
• Annual Report of the company for the year- 2008-2009 Websites:
www.kirlosker-electric.com www.google.com
BALANCE SHEET AS ON 31st MARCH, 2009
(Rs in Millions)