Taj Project MBA Porject Report Prince Dudhatra

8/6/2019 Taj Project MBA Porject Report Prince Dudhatra

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CONTENTS

INTRODUCTION

Sr. no Particular Page no1. INTRODUCTION 3

2. PROJECT AT GLANCE 4

3. HIGHLIGHTS OF THE COMPANY 5

4. HISTORY AND DEVELOPMENT 6

5. SIZE OF THE UNIT 7

6. FORM OF THE UNIT 8

7. LOCATION FACTOR 9

8. OBJECTIVES AND PROMOTERS 10

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As we know that the world has became smaller. If we need any thing we

are just in need to do some small formalities and the work is done. One of the

emerging services which are available for the public at large is the food

services. Their may be many restaurants opened in the market which

provides you this service at your door step. You are just required to have one

phone call and within a few minutes the food will be in front of you and you

will be enjoying it.

The business of restaurants in India is growing faster since last few years

and is forecasted to grow more in near future too. So many peoples are in

mode of having their own restaurants, but it is not so easy. As TAJ

RESTAURANT provide its service to the people of Rajkot to its full ability. It is

the restaurant for a family enjoyment with full facilities. It takes great care of

the customer satisfaction and demand.

The restaurant TAJ RESTAURANT was started in the year 1993. It is

suited opposite to Chaudhary High School Kasturba Road, Rajkot 360 001. It

has covered area under about 600 Square feet. As the restaurant is situated

in the heart of the city they are achieving big goals. Now a day the restaurant

has firm the ground with all the hard works and efforts and are climbing the

ladders of success.

PROJECT AT GLANCE

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The project at glance means profile of the company with exceptional contribution

of success TAJ RESTAURANT provide its services to the people in Rajkot to its full

ability. A TAJ is a restaurant for a family enjoyment with full facilities and good

surrounding atmosphere. It takes great care of its customers satisfaction and demand.

They provide the best quality food to their customer. It is one of the best restaurants

in Rajkot. Its concept of this project is really the best project in Rajkot.

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HIGHLIGHTS OF THE COMPANY

Firm Name: TAJ RESTAURANT

Location: Opp. Chaudhary High School,

Kasturba Road,

Rajkot 360001.

Nature of Business: Restaurant

Year of the Establishment: 1993

Form of the Organization: Private Ltd.

Size of the Unit: Small

Proprietor: Mr. Vinod Kakkad

Area covered: 600 Square feet.

Bankers: Citizen Co-operative Bank.

Accounting year: Financial year.

Initial Capital: 5 lacks.

Telephone No.: 0281-2457217.

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HISTORY AND DEVELOPMENT

The idea for the establishment of the TAJ RESTAURANT came up in the

mind of the proprietor father from their huge success of TAJ MAHAL

RESTAURANT which was located on Dharmendra road, Rajkot providing

loading and boarding facilities to the people. After that he wants to develop

the business by giving luxurious facility to the people. So they started the TAJ

RESTAURANT in 1993.

Mr. Vinodbhai Kakkad who is the proprietor of the restaurant worked very

hard with the great support of their family members. After visiting various

places in Rajkot and considering various factors they decided to start

restaurant in Rajkot. It was given the name TAJ RESTAURANT, which

means victory and providing kings food to the people. The initial investment

of the restaurant was 5 lacks. But now it has gradually increased.

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SIZE OF THE UNIT

There are three types of the industries. They are as follow:-

A. Small Scale Industry.

B. Medium Scale Industry.

C. Large Scale Industry.

Small scale industry has the total investment of Rs. 5lacks and more but

sales of Rs. 5, 00, 00,000 to 10, 00, 00,000

Where as, in medium scale industry the total investment is of Rs. more

than 5 lacks and the sales of Rs. 10, 00, 00,000 and more.

TAJ RESTAURANT is a small scale unit.

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FORM OF THE UNIT

There are various types of forms of ownership organization which are as

follows:-

Sole proprietorship

Partnership

Private Limited Co.

Public Limited Co.

Co-operative society

Joint stock Co.

Multi National Co.

The TAJ RESTAURANT is a Sole proprietorship.

.

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LOCATION FACTOR

They decided to locate its restaurant in the mid of the Rajkot so as to get

maximum numbers of people attracted towards them and other factors were

also received conveniently. Generally an entrepreneur will locate the unit at

the place from were he can get the total cost of service to be provide at the

minimum rate. At the time of the establishment of the unit selection of the

proper location is very important decision.

Infrastructure:-

As the company is located on the Kasturba Road, an infrastructure

facility is available in this area. Facilities like Power, water, etc. was easily

available in this area. The company could easily get its heavy line of

electricity from PGVCL.

Electricity:-

The company gets the required power supply from Puschim Gujarat Vij

Company Ltd. [PGVCL]. The total requirement of the unit is about 27 horse

power. The unit gets uninterrupted power supply at the location as per their

demand.

Water:-

The daily need of the water of the unit is 2000 liters. This has been

sourced by the companys own bore well. Hence permanent water supply is

ensured. There is no shortage of water.

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OBJECTIVES

Every business enterprise is established with some definite objective. Themain objective of any company is to earn profit. But over and above there are

other objectives also such as satisfaction of customers, providing best quality

of food, giving best entertainment facilities to the customer, etc.

The objective of TAJ restaurant is the customer satisfaction by

providing value added services in food unit.

PROPRIETOR

The proprietor is a person who establishes with his own risk or gets the

finance for the establishment from their relatives. He is a person who thought

of the company for the first time.

The proprietor of the TAJ restaurant is Mr. Vinodbhai Kakkad.

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CONTENTS

INTRODUCTION

Sr. No. Particular Page No.1. INTRODUCTION 13

2. WHAT IS SERVICE 14

3. SERVICE DETAILS 15

4. SERVICE TO CUSTOMER 16

5. FACILITIES 17

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The product is a bundle of all kind of satisfaction of both material and non-

material kinds. A product supplies two kind of utility, (1) Economic Utility, (2)

Supplementary Utility, in the form of social-psychological benefits.

The product may be a good, a service or the combination of both as good

and service or just an idea. A product is all things offered to a market. Those

things include physical objective, design, brand, package, label, price,

service, supportive, literature and satisfaction not only from physical product

and service offered but also from ideas, personalities and organizations. In

short, a product is the sum total of physical, economic, social and

psychological benefits.

WHAT IS SERVICE?

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A TAJ is known as a service unit because it provides its service to the

society in the form of providing foods.

What Service Means?

Service has got different meaning or can be understood in different

ways.

o Service means an action helping someone:

o The action of work for someone.

o A system supplying a public need.

o Reddy to assist someone when required.

From the above all meaning any meaning can be considered or

is applicable for the service company. But the perfect meaning can be

the combination of all the meanings.

TAJ is perfectly suitable with this meaning because it helps

public by providing facilities, satisfying public need and ready to assist

them whenever required.

SERVICE DETAILS

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A Service is the most important part and major key for the success of any

unit. Without a service, marketing cannot be imagined. Service is one tool in

the hands of the marketing through which it gives life to all marketingprograms. So, the main responsibility of the marketing would be to know its

service well and to take proper service decision.

While taking the service decision the following points are to be covered,

Requirement in the market.

Market Size

Competitors.

Chance of future growth.

The TAJ has a range of Punjabi, Chinese, Continental food, Ice-cream and

soft drinks is vary satisfying but inter related needs of one market segment.

They are specially known for Chinese because the feature of this product is

very different and the people of Rajkot are habituated with the Chinese and

Punjabi food.

SERVICE TO THE CUSTOMERS

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The TAJ provides various types of services to its customers. They

provide services from soup to deserts. They dont give a chance of facing any

difficulties by their customers. The services provided by them are as follow.

They are providing table services to their customers. As mention above

they serve every thing from soup to desert to their customers. When any

customer enters they serve them with water first and secondly they give them

menu. Then they take the order of the customer as per their desire. Then they

provide them their selected food. And if they want any soft drinks along with it

they also provide them various types of soft drinks. At last they give them the

finger bowl to wash their hands and mouth freshener to their customers. So

all this services are provided to them on the table.

If any customer wants to take the food at home they do provide them

the parcel facility also. They packs the food well in the silver paper and then

in a plastic container. So the food remains hot till they reach home. They do

not charge any extra money for the parcel facility.

FACILITIES

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Facility means the comfort available from any thing apart from basic

needs. Facilities can also be said as the item meant for luxury. The TAJ

restaurant provides facilities like

Plays Birth Day song on your birthday.

They provide the special food items to the family concern.

They even provide the special Parcel service to their customers.

They have a Banquet hall along with the restaurant.

The hall of the restaurant is fully A/c.

They do provide free parcel service also their customers.

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CONTENTS

INTRODUCTION

Sr. No. Particulars Pg. No.1. INTRODUCTION 202. ORGANIZATIONAL CHART 21

3. TYPE OF FOOD 22

4. PRICE OF LUNCH 23

5. STORAGE DEPARTMENT 24

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The key department of restaurant is kitchen department. On the basis

of kitchen the restaurant is running. If the very nice service is providing by

service department but the food is not that much good. The customer does

not prefer that restaurant.

The kitchen department has to be kept clean everyday. They have to

use best items for making food. They have to taste quality and try to maintain

quality. And the main cooks are having the experience and ability to make

best food.

TAJ has well maintained kitchen. And cooks are able & experience.

They provide the food as per the menu to their customers. They also provide

the special food during the festivals. They are always going to purchase

quality product. They buy the vegetables from the local market only. But they

maintain their choice of good quality vegetables.

ORGANISATIONAL CHART

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21

PROPRIETOR

KITCHEN STORE KEEPER

ASSISTANT COOKER

HELPER


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PRICE OF LUNCH

As we know that the price is the only element of a unit which generates

revenue. Price is also important part from the customers point of view also.

So the price should be such that neither the unit faces any problem nor the

customers think it is expensive. TAJ has been successful in maintaining the

balance between their margin of profit and the costumers satisfaction is alsomaintained. They do not have any grudges against it.

YOUR FIRST MOVE Kuchh Khas SABZIAN TREATS

Half Plate Full

plate

Fresh lemon soda 25/- Dal Tadka 28/-41/-

Fresh Lime Water 20/- Dal Butter Fry 26/-46/-

Soft Drinks 20/- Palak26/- 46/-Mineral Water 22/- Palak Mutter 26/-

46/-. . . . . . . . . . . . . . . . . . . . . . . . . Alu Mutter

26/- 46/-SOUPS Dum Alu 26/-

46/-Tomato Soup (Full) 34/- Iira Alu 26/-

46/-Tomato Soup (Half) 24/- Suka Bhaji26/- 46/-Sweet Corn Soup (Full) 41/- Nargisi Kofta26/- 46/-Sweet Corn Soup (Half) 26/- Veg. Kofta26/- 46/-

Ministrone Soup (Full) 41/- Mutter Panir32/- 52/-

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Ministrone Soup(Half) 26/- Palak Panir32/- 52/-Hot & Sour Soup (Full) 41/- Navratna Korma34/- 56/-

Hot & Sour Soup (Half) 26/- Veg. Kadai34/- 56/-Manchow Soup (Full) 41/- Veg. Makhanwala34/- 56/-Manchow Soup (Half) 26/- Veg. Jaipuri34/- 56/-Manchurian Soup (Full) 41/- Mixed Vegetable38/- 66/-Manchurian Soup (Half) 26/- Veg. Kolhapuri 38/-

66/-Sweet Corn Veg. Soup(full) 48/-. . . . . . . . . . . . . . . . . . . . . . . . . . . .

Sweet Corn Veg. SoupHalf 29/- TAJRECOMMENDS. . . . . . . . . . . . . . . . . . . . .. Paneer Tikka Masala42/- 76/-From the SANDWICH BOARD Veg. Hydrabadi 42/-

76/-

Bread Butter 20/- Veg. Hangama 42/-76/-Buttered Toast 25/- Panir Toofani 42/-

76/-Bread Butter Jam 25/- Panir Makhanni 42/-

76/-Cheese Sandwich 35/- Panir Kadai42/- 76/-. . . . . . . . . . . . . . . . . . . . . . . . . . MushroomMasala 42/- 76/-

. . . . . . . . . . . . . . . . . . . . . .. . . . . . .SATH SATH The touch of CONTINENTAL

Green Salad 25/- French Fries30/-

Tomato/Cucumber Salad 25/- Veg. Cutlets40/-

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . Baked

Macroni with cheese 56/-

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DAHI RAITAS Baked Veg. with cheese56/-Butter Milk 16/- Baked Macroni withPineple 61/-

Plain Raita 16/- Baked Veg. withPineple 61/-Masala Butter Milk 20/- Baked Veg. with Corn

61/-Lassi/Salted 22/- Baked Pineaple

65/-Lassi/Salted 22/- Veg. Sizzler

115/-Veg. Raita 33/-

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Pineapple Raita 38/- TIDBITS (Only onWeekdays). . . . . . . . . . . . . . . . . . . . . . . . . . . . . DryManchurian 68/-HAMARE TANDOOR SE Dry Panir TIka Masala77/-Roti 11/- Veg. Pizza 49/-Papad Roasted 10/- Pizza/Italian/Cheese

54/-Buttered Roti 13/- Chinese Pizza54/-

Papad Fried 11/- Chinese Bhel54/-

Masala Papad 15/- Veg. Suzwan Noodles54/-

Buttered Paratha 19/- Veg. Suzwan FriedRice 60/-Nan 20/- Spring Rolls75/-Stuffed Paratha 24/-

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Buttered Nan/Kulcha 24/- RICE PULAOStuffed Kulcha 40/- Plain Rice 33/-Cheese Nan/ Garlic Nan 44/- Plain Ricd (Half)

19/-. . . . . . . . . . . . . . . . . . . . . . . . . . . . . Veg.Pulao/Jira Rice 40/-From the Choicest CHINESE CORNER Jira Rice (Half) 24/-

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Veg. Fried Rice 44/- Veg. Biryani45/-Veg. Noodles/Haka Noodles 49/- Kahmiri Pulao(Sweet) 47/-

American Chopsuey 49/- Handi Biriyani50/-Veg. Manchurian 50/- Hyderabad Biriyani

50/-Panir/Manchurian Fried Rice 65/-

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Mixed Fried Rice 75/-. . . . . . . . . . . . . . . . . . . . . . . . . . . . .HOT BEVERAGES

Tea Per Cup 13/-Coffee Per Cup 15/-Cold Coffee 36/-Cold Coffee Ice cream 52/-

STORAGE DEPARTMENT

TAJ is having storage department in which they store different raw-

material. Like Vegetables, Grains & Pulses & Dry-Fruits, sweets, etc.

The storekeeper has to visit storage department and check the stock,

otherwise it will create difficulty for cooks and thus mismanagement can taken

place. But, TAJ has proper management of kitchen & storage department. It

is strength of the unit.

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CONTENTS

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Sr. No. Particulars Pg. No.

1. INTRODUCTION 27

2. MANPOWER PLANNING 28

3. RECRUITMENT AND SELECTION 29

4. TRAINING AND DEVELOPMENT 31

5. PERFORMANCE APPRAISAL SYSTEM 32

6. WAGES DISTRIBUTION 33

7. EMPLOYEES BENEFITS 34

8. TIME KEEPING SYSTEM 35

9. INDUSTRIAL RELATIONSHIP 36

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INTRODUCTION

Personnel Management is the management of human resources in anorganization and is concerned with the creation of harmonious working

relationship among its participants and bringing about their utmost individual

development. Such management is concerned with leadership in both group

and individual relationship and labour relations and personnel

management. It effectively describes the process of planning and directing

the application, development and utilization of human resources in

employment. In fact, personnel management undertakes all those activities,

which are concerned with human element in an organization. Whatever

functions are listed therein, the main objective of these functions is to bring

together expertise in a scientific ways and to create attitudes that motivate a

group to achieve its goals economically, effectively and speedily.

Personnel Management is a specialized branch of general managementwhich is connected with established and maintaining the personnel relation

with human beings. So, personnel management performs the crucial work for

managing MEN.

Personnel department is necessary for the required number of person at

right place for the right job and utilizing their capacity to the optimum level and

also providing them relevant facilities to achieving goals.

In this department we can get the information about the Person who

worked in the organization. We have study different types of activity like

Recruitment, Selection, Introduction, Training, Promotion, Transfer of the

Employee, Facilities provided to them and worker and other benefits given to

the employees.

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All the activities, which are concern with the human being, are

discussed under this department.

MANPOWER PLANNING

Planning is the primary and most important function of management in

every organization. Planning has been focused on every activity of the

business.

Manpower planning is the process of determining manpower

requirement meets these requirements in order to carry out the integrated

plans of the organization.

THERE ARE MANY ADVANDAGES OF MANPOWER PLANNING WHICH

ARE AS UNDER:-

It facilitates in increasing the size of the business.

It results in reduction of labour cost.

It answer efficient work force.

It promotes good industrial relation.

It helps the organization to act according to national policy on

employment.

It helps in recruitment and selection.

TAJ restaurant has implemented the manpower Planning.

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RECRUITMENT

Recruitment forms the first stage in the process which continuous with

selection and ceases with the placement of candidates. It is the next step in

the procurement function, the first being the manpower planning. Recruitment

makes it possible to acquire the number and types of people necessary to

ensure the continued operation of the organization. Recruiting is the

discovering of potential applicant for actual or anticipated organizational

vacancies. In other words, it is a linking activity bringing together those with

jobs and those seeking jobs.

Recruitment is the process of selecting efficient and trustworthy person

willing to apply for the job. Recruitment aims to develop and maintain proper

manpower renounces. There are mainly three methods for recruitment which

are as follow.

DIRECT METHOD

INDIRECT METHOD

THIRD PRATY METHOD

A TAJ has adopted direct method of recruitment that involves mostly

advertisement in newspapers, trade journals, technique magazines, etc. it

takes place when there is vacancy. They are also trained for the job. It is

known as IN HOUSE TRAINNG for 15 to 45 days. So as they are

completely aware about the work they are to perform on the job. There is also

an authorized person who checks the persons ability to work.

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SELECTION

The selection procedure is concerned with securing the relevant

information in a number of steps or stages. The objective of selection process

is to determine whether an applicant meets the qualification for a specific job

and to choose the applicant who is most likely to perform well in that job. It is

a very complicated and is based on the nature of the unit. It is concerned with

securing relevant information about an applicant like education, date of birth,

age and his qualifications.

In TAJ restaurant the selection procedure is only used while selecting

qualified person. It involve in the following steps.

1. Application received.

2. Screening of the application.

3. Interview.

4. Merit list.

5. Post or Placement.

Generally length of the process is depends upon value of post. Unskilled

person is directly selected.

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TRAINING AND DEVELOPMENT

Every organization needs to have well-trained and experienced people

to perform the activities that have to be done. If the current or potential job

occupants can meet this requirement, training is not important. But when this

is not the case, it is necessary to raise the skill level and increase the

versatility and adaptability of employee. Inadequate of job performance or a

decline in productivity or changes resulting out of job redesigning or a

technological break-through requires some types of training and development

efforts. As the job becomes more complex, the important of employee

development also increases.

In a rapidly changing society, employee training and development is

not only an activity that is desirable but also an activity that an organization

must commit resources to it if they want to maintain a viable and

knowledgeable work force.

Training is the act of increasing skill of an employee for doing the work

properly. It is a corn stone of sound management. It also enables the person

to develop and rise within the unit and increase their market value, earning

power and security. As mentioned earlier they provide 14 to 45 days in-house

training to the employees. Restaurant has more then 40 enthusiastic and

trained manpower available round the clock.

Training is the organization procures by which people learn

knowledge and skill for a definite purpose.

A TAJ restaurant has also given training to me when I went to visit the

unit as a student of B.B.A. They guided me well and give me their precious

time for me. So I am very much thanking full to them.

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PERFORMANCE APPRAISAL SYSTEMOnce the employee has been selected, trained and motivated, he is then

appraised for his performance. Performance appraisal is the step where the

management finds out how effective it has been at hiring and placing

employees. If any problems are identified, steps are taken to communicate

with the employee and to remedy them. A performance appraisal is a

process of evaluating an employees performance of a job in term of its

requirements. Heyel observes; It is the process of evaluating the

performance and qualification of employees in terms of the requirement of the

job for which he is employed, for administrating and placement, selection,

financial and other activities. There is no place for injustice with the

employees.

In TAJ the employees are considered as most valuable assets and

therefore it believes in perfect and accurate performance appraisal system.

They believe that employees efficiency, productivity and great performance is

a ladder to success. They have an efficient performance appraisal system for

evaluating the employees performance.

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WAGES DISTRIBUTION

Wages on the widest sense mean any economic compensation paid by

the employer under some contract to his workers for the services rendered by

them. Wages, therefore, include relief pay, financial support and other

benefits. But in the narrower sense, wages are the price paid for the services

of labour in the process of production and include only the performances

wages or wages proper. They are composed of two parts-the basic wages

and other allowances. The basic wages is the remuneration, by way of basic

salary and allowances, which is paid or payable to an employee in terms of

his contract of employment for the work done by him. Allowances, on the

other hand, are paid in addition to the basic wages to maintain the value of

basic wages over a period of time. Such allowances include holiday pay,

overtime pay, and bonus and social security benefits.

There are some types of wages like Time Wages, Piece Wages, Balance

or Debt Method. In TAJ the salary in paid on the basis of time wage method.

They give the employment to the person having experience and good

qualification in the field of the restaurant management.

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EMPLOYEES BENEFITS

Management is concerned with attracting and keeping employees, whose

performance meets at least minimum levels of acceptability; and at keeping

absenteeism and turn over to tolerable levels. The provision of benefits

and services are important in mentioning the employees and reducing and

keeping turn over and absenteeism low.

It is important to note that financial incentives are paid to specific

employees. Employee benefit and services on the other hand, are

available to all employees based on their membership in the organization.

The purpose of such benefits and services is to retain people in the

organization and not to stimulate them to greater effort and higher

performance. They foster loyalty and act as security base for the workers.

A TAJ provides following facilities to its employees:-

Leave with pay.

Accommodation facilities.

Friendly working environment.

Free food the employees.

Bonus to the employees on Diwali.

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TIME KEEPING SYSTEM

In TAJ the time keeping system for the employee is from morning 11:30

a.m. to noon 3:30 p.m. and from evening 7:30 p.m. to night 11:30 p.m. These

timing may even change depending upon the work they are allotted. In the

unit, workers are having working hours divided into two shifts as mentioned

above. The restaurant remains open daily so employees have daily working

days.

The timing for the employers is from 11:00 to 15:30 and from 19:0 to 23:30

by night. In between they have the break time. They can do what they like to

do in this time period.

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INDUSTRIAL RELATIONSHIPIndustrial relations refers to a dynamic and developing concept which is

not limited to the complex of relations between trade unions and management

but also refers to the general web of relationship normally obtaining between

employers and employees a web much more complex than the simple

concept of labour capital conflict.

Industrial relations do not constitute a simple relationship, but are a set of

functional, inter-dependent complexities involving historical, economical,

social, psychological, demographic, technological, occupational, political,

legal and other variables, and call for an interdisciplinary approach to their

study.

In TAJ restaurant the industrial relationship is good. Its an ideal family

relation because atmosphere is familiar and there is no communication gap

between owners and workers.

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CONTENTS

Sr. No. Particular Pg. no.1. INTRODUCTION 39

2. PRICING POLICY 40

3. CUSTOMER SATISFACTION 41

4. MARKET SHARE ANALYSIS 42

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INTRODUCTION

Today it is fashionable to talk about the new economy. We hear that

business are operating in a globalize economy, that things are moving at ananosecond pace; that our markets are characterized by hyper-competition;

that disruptive technologies are challenging every business; and that

business must adopt to the empowered consumer. Marketing management

occupies a significantly places whether it is a new of an established unit. To

fulfill overall objectives, an efficient marketing department is a prime

condition.

Good marketing plays a significant role in increasing the sale of the goods

in the market. Marketing management is the process of planning and

executing the concept of pricing, promotion and distribution of ideas, goods

and services to create the satisfied individuals and organizational objectives.

The important of marketing has increased in view that it has become a

media of communicating between the customers and industry. Today best

marketing and good channel is the key to success for the company.

Marketing is a social and managerial process by which individual and

groups obtain what they need and want creating and exchanging value and

product with each other. A TAJ has adopted customer oriented marketing.

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PRICING POLICYPrice is the one element of the, marketing mix that producers revenue; the

other element producer costs. Price is the easiest marketing-mix element to

adjust; product features, channels, and even promotion take more time. A

price also communicates to the market the companys intended value

positioning of its products or brands. Pricing policy is one of the important

factors that can affect directly to the unit and also to its customers.

Pricing policy means policies related to the price of a product. An

organization is having price option for a particular product. A number offactors affect such pricing decision. A firm may choose various kinds of

pricing methods, for their various products.

In TAJ the pricing policy is mostly decided according to the general

practice of the market price. The price of the item depends on the market

price and also a bit to its profit margin. The price of all the types of food items

is fixed from the first and remains stable.

TAJ under takes various types of aspect which are as follow:

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Price of raw materials.

Cost of preparing.

Salary and wages overhead.

Advertising and promoting expense.

Taxations.

Government strategies.

Packing expenses.

Reasonable profit margin.

CUSTOMER SATISFACTIONOne of the best thing that the owner of the company can take as a reward

beside its income is the consumers satisfaction. If the customers are satisfied

they will come again to the restaurant and will also bring more customers to

the business. This will definitely lead to increase in the profit and it also

increases the good will of the company. As we know that satisfaction comes

from the service they provide to us. On the basis of it only we can judge the

level of satisfaction we get.

So TAJ provides the best services to their customers and tries to solve the

problems immediately if the customer has any problem. They also provide

table service to their customer. They play some soft music in the dinner hall.

And if possible they try to serve their best service to the customer by not

disturbing them and at last asking their opinion about food.

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MARKET SHARE ANALYSISThe term market share is used frequently. Essentially it refers to the

preparation of the total sales of a product during a stated time period in a

specific market that is captured by a single unit. Market share can refer to

entire industries, narrow segments or particular geographic areas and alsocan apply to past, present and future time period.

The analysis of market is needed to compare the companys sale with

the industrys sales. Comparing a companys sales forms as performance

evolution, but it does not tell how the company is doing relative to its

competitors. This is nothing but a detailed study of market share analysis,

which indirectly helps in accurate forecasting of demand for the product or

service for a successful marketing plan.

As TAJ is a part of vast service industries, its market share is 3%.

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CONTENTS

Sr. No. Particular Pg. No.1. INTRODUCTION 45

2. ORGANIZATION OF FINANCE

DEPARTMENT

46

3. MANAGEMENT OF WORKING CAPITAL 47

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INTRODUCTIONFinancial management is that managerial activity which is concerned with

the planning and controlling of the firms financial resources. Though it was a

branch of economics till 1890, as a separate activity or discipline it is of recent

origin. Still, it has unique body of knowledge of its own, and draws heavily on

economics for its theoretical concepts even today.

The subject of financial management is of immense to both academicians

and practicing managers. It is of great interest to academicians because the

subject is still developing, and there are still certain areas where

controversies exist for which no unanimous solutions have been reached as

yet. Practicing managers are interested in this subject because among the

most crucial decisions of the firm are those which relates to finance, and an

understanding of the theory of financial insights of make those decisions

skillfully.

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Finance manager has to play a major role in planning a business concern

need for finance or fund, raising necessary funds, packing them into effective

use, etc. as it is the life line of the business. It is necessary to set up

systematic management for sound management of funds. It is said by the

Henry that the money is an arm or leg. You can either use it or lose it.

In TAJ there is separate department for the different types of work as for

estimating the capital, distributing of profit, finding new source of fund, cash

&bank balances, and recording of A/c., fixing the prices and controlling the

financial activities.

ORGANIZATION OF FINANCEDEPARTMENT

To raise finance at right time and to utilize it most effectively there are the

primary functions of financial management which can be safely delegated to

other officials of the business, the top management only monopolized the

financial decisions. This underlines the important of financial management.

Broadly, interpreted finance functions are basically same in all types of

business organizations. The financial considerations are same irrespective of

the size of the unit. Of course the nature of financial organization has

changed to suit the size of the unit.

The management of finance is the most important function of an

organization and the existence of the organization depends on the efficient

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use of financial resources. Therefore, the proprietor of TAJ himself supervises

the financial activities carried out by executives of finance.

MANAGEMENT OF WORKING CAPITALWorking capital refers to the funds locked up in materials, work in

progress, finished goods, receivable and cash, etc. since these assets are

known as current assets, in very simple term, working capital may be defined

as capital invested in current assets. According to Hoagland, working

capital is descriptive of that capital which is not fixed. But the more common

use of the working capital is to consider it as the difference between the book

value of the current asset and current liabilities.

Working capital plays an important role in any organization. The

management of working capital is done in such a way so that the firm does

not face financial crisis because the scarcity of finance will create disturbance

in the working of the unit.

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In TAJ the working capital is Rs. 1, 00,000. The proprietor of the restaurant

does the management of working capital. It is major concern of the financial

manager such as the accomplishment of the value of maximization of goal

depends essentially on prudent working decision.

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SWOT ANALYSIS

The over all evolution of the units strength, weakness, opportunities and

threats is called SWOT ANALYSIS.

The strength, weaknesses, opportunities and threats of TAJ are as follows.

S: - The strength of them is their location, customer satisfaction and

best quality with good service.

W: - The weakness is over population.

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O: - The great opportunity of expanding the mind set of the people and

also their earning potentials and development.

T: - They fear the continuously upcoming new units which wear down

the pricing.

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FUTURE PLANS

As every unit has their future plans to achieve and we also know that it is

continues process which goes on goes on without stopping. If one of the plan

is completed other one is already ready to be implement.

The future plan of TAJ is to introduce the New Fresh Juices, in near

future.

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SUGGESTIONS

Project is the result of valued suggestions. In the world, every individual is

striving for perfection. No one is perfect but constant endeavor for excellence

leads towards perfection.

The world is changing rapidly especially in the area of business. However

top becomes a world leader one should not remain unaware of the self-

weaknesses.

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I would like to suggest that they should provide the entertainment facilities

to the employees, uniform to the employees and also medical facility to the

employees.

I would also like to suggest that they should go for more publicity and

should increase the facilities like party hall, play room for children, dance hall,

some indoor games, etc.

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BIBLIOGRAPHY

Training in service unit and thus getting the information regarding variousaspects is truly a practical asset. But in order to give practical training a true

and clear meaning for the preparation of best and complete report, the

theoretical concepts must be at least clear in our minds. To have the

complete knowledge regarding various theoretical concepts. I took the help

from the following books by well known authors.

Marketing Management by Philip Kotler.

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Personnel Management by C.B.Memoria.

Financial Management by I.M.Pandey.

Forms of Business Organization by Sherlaker.

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Taj Project MBA Porject Report Prince Dudhatra