A STUDY ON OVERALL FUNCTIONS SURFINE TOOLS

PVT LTD,

COIMBATORE
Summer Internship Project

Submitted by

C.PREM KUMAR

Register No: 712416631035

In partial fulfilment for the award of the degree

Of

MASTER OF BUSINESS ADMINISTRATION

In

PPG BUSINESS SCHOOL

COIMBATORE-35

July -2017
 PPG BUSINESS SCHOOL

COIMBATORE -35

SUMMER INTERNSHIP PROGRAM

This is to certify that the project report entitled

A STUDY ON OVERALL FUNCTIONS OF SURFINE TOOLS PVT LTD,

COIMBATORE
This is the bonafide record of project work done by

C.PREM KUMAR

Register No: 712416631035

Of MBA during the year of 2016-2018

Project Guide Director

Submitted for the Project Viva-voce examination held on _______

Internal Examiner External Examiner

 DECLARATION

I affirm that the initial work titled “A STUDY ON OVERALL

FUNCTIONS OF SURFINE TOOLS Pvt Ltd, ” being submitted in partial
fulfilment for award of MASTER BUSINESS ADMINISTRATION, is the
original work carried out by me. It has not formed the part of any other project
work submitted for award of any degree or diploma, either in this any other
university.

Signature of the candidate

C.PREM KUMAR
Regd. No. 712416631035

I certify that the declaration made above by the candidate is true.

Signature of the Guide,

G. SINDHU

Assistant Professor
CERTIFICATE

This is to certify that the report of the initial report entitled “A STUDY ON
OVERALL FUNCTIONS OF SURFINE TOOLS PVT LIMITED,
COIMBATORE” submitted in partial fulfilment of the requirements for the award
of the degree of MASTER of BUSINESS ADMINISTRATION in PPG Business
School, Coimbatore, is a record of bonafide work carried out by C.PREM
KUMAR(REGD.NO:712416631035)under my supervision and Guidance.

Date:

Place: Coimbatore

Signature of the Guide

 ACKNOWLEDGEMENT

The completion of this project brings a sense of satisfaction, but it is never complete
without thanking the persons who were responsible for successful completion.

I would like to extend my sincere thanks to Our principal Dr.Prakasam, PPG Institute of
Technology, Coimbatore-35, who has been an invaluable source of inspiration for providing the
facility to complete this project successfully.

I would like to extend my sincere thanks to Prof. Dr.T.Devasenathipathi,Director,

PPG Business School, Coimbatore-35, who has been an invaluable source of inspiration and
providing the facility to complete this project successfully.

I’m grateful to our Faculty Guide Ms.G.sindhu, Department of Management Studies,

PPG Business School, and Coimbatore-35 for her valuable suggestions, encouragement, timely
advice and co-operation to complete this training in a successful manner.

I am deeply indebted to Mr.n.Rajendran, Surfine tools pvt Limited Coimbatore for

providing necessary data, and for their kind co-operation.

I extend my genuine love and gratitude to my dear parents who have built up our
profession and backed me up in difficulties.

Date:

Place: PPG Business School, Coimbatore-35

 TABLE OF CONTENT

CHAPTER CONTENTS PAGE NO

EXECUCTIVE SUMMARY

INTRODUCTION
1.1 INTRODUCTION ABOUT INDUSTRY
1.2 COMPANY PROFILE
1.
1.3 ORGANISATION STRUCTURE
1.4 SWOT ANALYSIS
1.5 OBJECTIVE OF THE STUDY

2. HUMAN RESOURCE DEPARTMENT

3. PRODUCTION MANAGEMENT

4. PURCHASE DEPARTMENT

5. QUALITY CONTROL DEPARTMENT

6. MARKETING DEPARTMENT

7. FINDINGS

8. CONCLUSION

9. BIBLIOGRAPHY
 EXECUTIVE SUMMARY

Industry exposure is the most crucial part of the management studies in which a student is
able to synchronize his technical knowledge with practical knowledge gained in the any of the
organization. I chose the project surfine tools pvt Limited titled “A Study Of Overall Functions
Of surfine tools pvt Limited, Coimbatore” which is a great learning experience. I hope that the
words of projects will communicate the actual of experienced gained with subtlety and precision,
which is unapproachable, by any other means.

Surfine tools pvt Limited Facility is one of the world’s largest automobile manufacturing
facility under one roof. Spread across an area of more than 1013 acres, surfine tools pvt Limited
facility employs more than ,500 people. automobile industry from surfine tools pvt Limited
plant at Coimbatore provide a main and stable supply of input material for this plant.

The study helped me understand and gain more knowledge about process carried out in an
organisation. The purpose of this report is to examine the various processes undertaken at surfine
tools pvt Limited, Coimbatore. The report includes the functions of various departments like
Production department, Human resource department, Finance department, Marketing department,
Sales department etc.

The study started with understanding of the automobile industry. Then the complete
information about the company was analyzed. The organisation structure was also examined.
After gaining enough knowledge about the industry and company, the functional areas were
analyzed. The day-to-day activities of each and every department were studied
 INTRODUCTION

Mr.V.SRIRAM & Mr. N.RAJENDRAN started Surfine Tools in the year 1989, at Coimbatore,
South India. In 1995, overwhelming support of our customers made us to divert manufacturing of
automotive components.
Our core activities are in manufacturing Automotive components, Textile components and
Tractor components etc., for domestic as well as overseas customers.

Mission :

"To be a leading supplier of precision-machined components for Auto, Tractor and

Textile industry through maximizing product value by incorporating innovative solutions in line
with the highest level of Customer service. "

Vision:

"We endeavour to stay ahead of the competition by sustenance of Total quality derived
through delivery of the best output at the right time, through continual up-gradation of technology
and absolute customer satisfaction. "

ABOUT Us:

Surfine tools came into existence in the year 1989 to manufacture precision components
for Automobile, Tractor and Textile Industries. Under the dynamic leadership of Mr.V.SRIRAM
& Mr. N.RAJENDRAN we are able to conduct our business on ethical grounds.
 We focus on producing high quality components that meet the specific need of the client.
With an aim to provide sophisticated and comprehensive range of components, we understand the
requirements and the ins and outs of the industries we serve and fabricate our range accordingly.

To keep pace with the ever-changing requirements of our clients and achieve remarkable
position in the market, we invest a lot of time and money to upgrade technology besides taking
meticulous efforts to keep delivery schedules and competitive rates.

Our intensive industry experience & know how helped us carve a niche for our self in
domestic market. Having established a strong image in India, we look forward to place our foot in
international market in the nearby future. Our rigorous efforts have strengthened our relationship
with existing clients and seem to attract new clients besides retaining existing clients.

Future plan :
We collectively work towards achieving the objective of serving domestic clients and
concentrating in increasing 20-25% of export of Tractor Components, Textile Components, and
Automotive Components by constructing a new factory in 20,000 Sq feet area, enhancing
production and thereby catering the needs of both clients consistently and comprehensively. We
show Interest to have tie-up on a long-term basis with clients.

Surfine Tools steady growth is about 15 percent per year and is expected to reach 21.86
in the following years. Its rise is shown vibrantly in the below chart Rs (85 lakhs in 2013 – 2014,
14.37 cr in 2014-2015, 16.53 in 2015-2016, 19.01 in 2016- 2017, 21.86 in 2017-2018).
 We are engaged in manufacturing gamut of components for Automobile, Tractor, and
Textile Industry. These components having been made from high-grade raw materials have got a
reputation in the market for its durability & strength. These products are available in precise
dimension as per the exact demands at the client's end.

Auto components

 Hydraulic cylinders for power steering system of passenger cars

 Yokes for steering column of Light / Heavy commercial vehicles
 Valve Housing for Fuel injection System

Tractor components:

 Clutch application for Tractors

 Cylinder Frame
 Valve Spool
 Valve Sleeve
 Hydraulic Cylinders
 Flange
 Piston
Textile components / sub assembly:
Housing, Roller, Bush, Eyelet, Gear Block, Bracket, Sprocket for carding, draw frame,
comber and weaving machine

New product Development :

Infrastructure :

Our team with highly experienced & dedicated personnel’s work innovatively with enthusiasm to
provide clients augmented products at competitive price

Our manufacturing unit fitted with technologically advanced machines like CNC, VMC,
HMC, Honing, Grinding, Milling, Drilling, Broaching and Welding Machines help us to keep
pace with increasing market demand.

We have 3D Modeling, Edge CAM software to optimize the cycle time of the machining.
Our Quality facilities include CMM, height master, tool setter, surface roughness tester to
offer flawless components to clients.

CNC (Turning Center) - 9 Nos: VMC (Ace Make) -4 Nos:

HMC (Makino a-51and Makino a-71) - Honing Machine (Auto Expansion) - 7
2 Nos: Nos:

3 Ton Vertical Broaching Machine - 1

BFW Milling Machine - 3 Nos: No:
Cylindrical Grinding Machine - 3 Nos: Vibro Finishing Machine - Model FM
300L - 1 No:

 VMC (S33 Makino) - 2 Nos

 VMC (Brother Make) - 2 Nos
 Burnishing - 1 No
 Gang Drilling Machine - 1 No
 Voumard Internal Grinding Machine - 1
No
 Tool Milling Machine with PLC - 1 No
 Projection Welding Machine 20 Kva - 1
No

Quality:
We adopt to ISO 9001 and TS 16949 standard and follow the methodology of “PLAN –
DO – CHECK – ACT “ (PDCA) for process approach, Advance Product Quality Planning and
Production Part Approval Process for new product development.
Quality Policy:
To achieve customer satisfaction, by providing consistent quality products on time,
meeting their expectation. We have our own quality-checking laboratory where quality standard
are checked at each stage of production. Each product is tested for its flawless quality before
being sent to the client.

This will be achieved through :

 Customer focus and compliance to system and statutory requirements

QA Function:
Incoming product from Customer Vendor
 Inspection is carried out on Sampling IS 2500 And AOI – Agreement of Inspection and
Supplier Audit as per its plan
 Set up approval is done as SOP– Standard Operating Procedure and 1st piece / last off
inspection is cleared on basis of CMM– Coordinate Measuring Machine results
 Inspection is done on sampling size frequency as per control plan / quality plan and
significant characteristics are controlled through process monitoring chart from which
/cpk results are derived, tracking of rejection/rework PPM level, process validation and
training given to employees.
 Final inspection is done on sampling size frequency as defined in agreement of inspection
 / control plan / quality plan. critical characteristics are 100 % checked before dispatch to
customer
 Layout inspection is carried out for work in process component and finished product as
per customer drawing
 Process audit , product audit , system audit is done as per its frequency defined in plan
 Instruments and gauges calibration at NABL 17025 lab and in house standard room and
msa studies.
 Customer compliant is resolved through 8-d methodology and review and updation of
PPAP document such as fmea and control plan
 Management review meeting is conducted once in a month and or as per need basis
 Continual improvement based on data in the area of production, quality, delivery, cost,
safety and service
Customers :
Our focus to satisfy the client requirement has assisted us in widening our base in
domestic market & made us think about spreading our wings over international market. The
consistency we implement in up gradation of the quality of our components helps us in receiving
repeated orders from our trustworthy clients. Our customer-centric approach aids in developing
long-lasting relationship with our domestic clients.
Domestic clients :
Our existing business activities in Automotive components section are with Rane, Roots,
Sona Koyo and in Textile components are with LMW, RLMN and Tractor components are with
Kamco Auto.
International clients:
Comprehensive product range & Competitive pricing have gained us some international
clients
Textile Industry
 ITEMA
Tractor
 GIMA & Valtra.
 Functions of Department
 Hr Department
 Production Department
 Purchase Department
 Quality Control Department
 Finance Department
 Marketing Department

HUMAN RESOURCES DEPARTMENT :

Human Resource Management is a management function
concerned with hiring, motivating, and maintaining workforce in an organization. Human
resource management deals with issues related to employees such as hiring, training,
development, compensation, motivation, communication, and administration. Human resource
management ensures satisfaction of employees and maximum contribution of employees to the
achievement of organizational objectives.

Human Resource Management functions can be classified in following three categories.

 Managerial Functions,

 Operative Functions, and

 Advisory Functions

1. Human Resource Planning

In this function of HRM, the number and type of employees needed
to accomplish organizational goals is determined. Research is an important part of this function,
information is collected and analyzed to identify current and future human resource needs and to
forecast changing values, attitude, and behavior of employees and their impact on organization.

2. Organizing :
In an organization tasks are allocated among its members, relationships are
identified, and activities are integrated towards a common objective. Relationships are established
among the employees so that they can collectively contribute to the attainment of organization
goal.
3. Directing :
Activating employees at different level and making them contribute maximum to
the organization is possible through proper direction and motivation. Taping the maximum
potentialities of the employees is possible through motivation and command.

4. Controlling :
After planning, organizing, and directing, the actual performance of employees is
checked, verified, and compared with the plans. If the actual performance is found deviated from
the plan, control measures are required to be taken.

The operative Function of Human Resource Management are as follows:

1. Recruitment and Selection:

Recruitment of candidates is the function preceding the selection,
which brings the pool of prospective candidates for the organization so that the management can
select the right candidate from this pool.

2. Job Analysis and Design :

Job analysis is the process of describing the nature of a job and
specifying the human requirements like qualification, skills, and work experience to perform that
job. Job design aims at outlining and organizing tasks, duties, and responsibilities into a single
unit of work for the achievement of certain objectives.

3. Performance Appraisal :

Human resource professionals are required to perform this function

to ensure that the performance of employee is at acceptable level.

4. Training and Development:

This function of human resource management helps the employees
to acquire skills and knowledge to perform their jobs effectively. Training an development
programs are organized for both new and existing employees. Employees are prepared for higher
level responsibilities through training and development.
5. Wage and Salary Administration:
Human resource management determines what is to be paid
for different type of jobs. Human resource management decides employees compensation which
includes - wage administration, salary administration, incentives, bonuses, fringe benefits, and
etc,.

6. Employee Welfare:
This function refers to various services, benefits, and facilities that are
provided to employees for their well being.

7. Maintenance:
Human resource is considered as asset for the organization. Employee turnover is
not considered good for the organization. Human resource management always try to keep their
best performing employees with the organization.

8. Labour Relations:
This function refers to the interaction of human resource management with
employees who are represented by a trade union. Employees comes together and forms an union
to obtain more voice in decisions affecting wage, benefits, working condition, etc,.

9. Personnel Research:
Personnel researches are done by human resource management to gather
employees' opinions on wages and salaries, promotions, working conditions, welfare activities,
leadership, etc,. Such researches helps in understanding employees satisfaction, employees
turnover, employee termination, etc,.

10. Personnel Record:

This function involves recording, maintaining, and retrieving employee
related information like - application forms, employment history, working hours, earnings,
employee absents and presents, employee turnover and other other data related to employees.

The Advisory Functions of Human Resource Management are as follows:

Human Resource Management is expert in managing human resources and so can give
advice on matters related to human resources of the organization. Human Resource Management
can offer advice to:
1. Advised to Top Management:
Personnel manager advises the top management in
formulation and evaluation of personnel programs, policies, and procedures.

2. Advised to Departmental Heads

Personnel manager advises the heads of various
departments on matters such as manpower planning, job analysis, job design, recruitment,
selection, placement, training, performance appraisal, etc.

PRODUCTION DEPARTMENT:
What are the functions of the production department of a
company? The production department of a business is responsible for a lot of duties. But before
we take a look at some of these numerous duties or functions, let us first find out what the
production department is.

The production department in a business organization is that department which engages in

the manufacturing or production of goods for the business organization. The production
department is headed by the production manager. Other workers in this department include
technicians, engineers, designers, machine operators etc.

The functions of the production department

There are so many functions of the production department. Below are some of the
most common functions of this department:

 The production department manufactures goods for the business which are then sold in
order to bring revenue for the business.

 The production department is also responsible for the designing of the goods or products
of the business which are sold to other businesses or to the general public.

 Every aspect of production is controlled by the production department. By controlling

production, the department efficiently uses things such as labor, machines and materials
judiciously in order to prevent any wastage.

 The department improves on the products of the business by bringing changes and
innovations.

 The production department makes sure that it produces goods or products at very low
 costs in order to maximize profit.

 The production department works in collaboration with the purchasing department of the
company in order to make sure that materials needed for production are always available.

 The department also makes sure that the machines and equipments used in production are
serviced and properly maintained all the time

PURCHASE DEPARTMENT:
The purchasing department is an organizational unit of a firm
whose duties include some part or all of the purchasing function. This disconnection between
function and, department is not always appreciated or understood by top management.

1. Receiving indents:
The first and foremost function of purchasing is receiving
demand/requisition of material from different departments of the organization, such as from
production, stores, maintenance, administrative, drawing office, planning, tool room, packing,
painting, heat treatment etc.

After receiving the indent from users’ departments it examines in details and takes action
according to the need and urgency of any item. This is called ‘recognition of need’. Sometimes,
needs can be met by transfer of a stock of one department to another department. In other cases,
the reserve stock or the stocks kept in bank can be utilized i.e., pledged stock with bank.

2. Assessment of demand or description of need:

After recognizing the need with
appropriate description, i.e., qualitative as well as quantitative, is necessary for the sound and
successful purchasing. An improperly described demand can cost heavily money-wise as well as
time-wise.

The real problem arises when the order is placed for want of preciseness in the description
of goods needed, the items are received and these are not acceptable to the user department and it
also becomes difficult to convince the suppliers to return the goods in case of faulty supplies.
Therefore, purchasing department must have adequate knowledge of items being purchased to be
able to secure full description.

The purchasing department should not have such alternative purchases of commodities,
which are not available easily, on their own responsibility or at a lower cost unless and until it
gets the consent from the user department.

In a nutshell, it is recommended that the description of items for purchase on the part of
indenter, purchaser and seller should be quite clear and without ambiguity to promote harmony in
an organization.

3. Selection of sources of supply:

Most important function of a purchasing department or
officer is the selection of the sources for the requisitioned items of stores. There are different
sources of supply which have no similarity between them.

For majority of items, selection of one of the vendors should be made. While selecting the
item, the purchase officer has to see whether the item to be purchased is on a regular basis i.e., it
is being purchased time and again or it is a seldom purchase on non-recurring basis.

Whenever the items are to be bought from single manufacturer, such as branded or
patented item, there is no difficulty in the selection of the sources of supply; the order can be
placed with the party according to terms and conditions of their sale.

Selection of source of supply requires the services of shrewd purchasing officer who can
keep pace with policies of the organization and market from where the materials have to be
purchased.

4. Receiving of quotation:
As soon as the purchase requisition is received in the purchase
division, sources of supply will be located; a decision is then taken in respect of the method of
tendering/limitation of quotations from prospective suppliers.

Prices are also ascertained by preparing a comparative statement with the help of either of
the following documents supplied either by the supplier or taken from the previous records of
advertisements, like:

(a) Catalogues, price lists etc.

(b) Telephonic quotations.

(c) Previous purchase records.

(d) Quotation letter or tender i.e., letter of inquiry.

(e) Sample and related price cards.

(f) Negotiation between suppliers and the purchase department like catalogue, price lists etc.

It is in the interest of purchasing department to keep this information up to date. Even for
the items which are being purchased on a regular basis, the purchasing section should invite
tenders and know full well the market price. It will ensure that prices being paid to the existing
vendor are competitive.

5. Placing order:
Placing a purchase order is the next function of purchasing officer. Since purchase
order is a legal binding between the two parties, it should always be accurate, clear and
acceptable to both. The purchase order should contain the following particulars:

(a) Description and specifications of the material.

(b) Quantity order.

(c) Transport and packing charges and shipping instructions.

(d) Name and address of the supplier.

(e) Date, time and place of delivery.

(f) Price, discount and terms of payment.

(g) Signature of the purchase manager.

(h) The name and address of the buyer.

6. Making delivery at the proper time by following up the orders:

Since one of the objectives of
successful purchasing is delivery of goods at right time so as to ensure delivery when and where
needed? In normal practice, the responsibility of the purchasing department is up to the time the
material is received in the stores and is approved by the inspection department.

Every purchasing department has the responsibility for follow-up of the orders it places on
different suppliers. All items do not require extensive follow-up. For some less important and low
value items follow-up would be costly and wastage of money and time only.

7. Verification of invoices:
In normal course, it is also the responsibility of purchase
department to check the invoices and accordingly advise the accounts department for clearing the
payment to the parties concerned. Contradictory statements have been given as to who should be
assigned this function.
 Some are of the view that invoices should be checked by the purchase department placed
by it whereas other suggests that it should go to the accounting department. In support of this, the
experts add that it is part of the responsibility of purchase department that orders are accurately
executed and properly filled as per terms and conditions of the contract.

If there is any error in the bills, the purchase department can get the correction done or
adjustment effected. If the invoices are checked by the stores or accounts departments, there may
be some delay in attending to the errors.

8. Inspection of incoming materials:

The purchasing department should have a close contact with
inspection department. On receipt of the materials from different suppliers, they are to be
inspected as per specifications indicated in the purchase order to verify their quality and quantity.

Uninspected materials are a burden on the economy of the organization. If inspection is

delayed, the payments of the suppliers also are likely to be delayed, resulting in bad relations
between suppliers and purchasers.

9. Meeting transport requirements of incoming and outgoing materials:

The purchasing officer must make goods/materials
available at the right time they are required, at the place they are needed, and at the lowest
possible cost. It is a big responsibility, and even a slight error amounts to delay in consignment
required at a particular time.

In this regard, the purchase department should have a thorough knowledge of the means
of transportation. It should make a correct choice of carriers or routes because otherwise it may
entail delay and additional transportation costs.

10. Maintaining purchasing records and files:

Purchasing involves a lot of paper work. Daily a number of letters,
bills, quotations, notes, challans, railway receipts, parcel, way bills, bills of ladings, goods
received notes, lorry receipt, goods receipt (transport delivery notes), inspection notes have to be
dealt with. It involves a lot of clerical work.

This department has to refer to previous correspondence on purchase orders, notes, catalogues,
blue prints, price lists etc. very frequently which makes it imperative to maintain records in
appropriate manner. These records are essential for making the day to day purchase.
11. Reporting to top management:
It is also an important function of the purchasing department
to prepare weekly, monthly, quarterly, bi-annually and yearly reports regarding expenditures of
this department and send the same to top management along with details of purchases made and
suggestions or improvements, if any.

12. Developing coordination among departments:

A purchasing department has to fulfill
the needs of other departments in the organization. It is the function of purchasing department to
work in close coordination and cooperation with other departments of the company.

To a considerable extent, the attitude and reactions of other departments towards

purchasing department extends to these other departments. Mutual trust and cooperation is
essential between the purchasing department and other departments to secure high degree of
efficiency.

13. Creating goodwill of the organization in the eyes of the suppliers:

Good vendor
relationship has to be maintained and developed to reflect enterprise’s image and goodwill.
Maintaining such relations requires mutual trust and confidence which grows out of dealings
between the two parties over a period of time. Worth of a purchasing department can be measured
by the amount of goodwill it has with its vendors.

QUALITY CONTROL DEPARTMENT:

Purpose :
To provide an instruction for functions of quality control department.

Objective :
To provide a documented procedure for functions of quality control department.
 Scope :
This procedure is applicable for functions of quality control department ---
Pharmaceuticals Ltd,

Responsibility :
· Primary: QC Chemist / QC-Officer

· Secondary : Overall: QC – In charge

Procedure :

 List of activities of quality control department.

 Testing and release or rejection of all incoming raw materials, packing materials, in-
process / intermediates and finished products as per specified specifications.
 Maintaining testing records as per standard procedures for raw materials, packing
materials, in-process / intermediates and finished products.
 Calibration of laboratory instrument / equipment.
 Performing stability study.
 Control sample storage.
 Analytical method validation.
 Preparation of standard volumetric solutions and maintain standardization record.
 Maintain Labelling procedure at all the stages and records.
 Maintain working / reference standard record of products.
 Analysis of complaint samples as and when required.
 To conduct technical audit / self-inspection.
 Follow safety norms at all the stage during handling of chemicals and using instruments.
 Follow good laboratory practices.

FINANCE DEPARTMENT

To Prepare the Budget :

It is duty of finance department of company to make the budget
before actual providing money to any department. It will be helpful to fulfill each department
with minimum cost. Finance department can take the past records from respective department. It
will be useful for making better budget.

Financial Management :
 In this function finance department gets money from capital market at very
low risk and cost. Finance department analyzes all the resources of funds and create a good
financial structure of company. In this structure, finance department analyze whether it will
decrease the overall cost of capital on Average basis or not.

Management of Investments of Company

After making financial structure, finance
department invests debenture holders and shareholders money in best projects for
getting highest return on investment. For this finance department has to take investment decision.
These investment decisions can be taken with the help of capital budgeting and investment
analysis techniques.

Management of Taxes :
Management of taxes is also the function of finance or finance
department. Taxes may be direct or indirect. Finance department continue watches the
amendments and updates in tax laws and also create good corporate relation with government by
paying return of corporate tax on the time.

Management of Financial Risks:

Finance department takes many measures for managing the
financial risks of company. For reducing loss of fund due to
happening liquidity, solvency or financial disaster, finance department makes a good plan and
also takes the help of debt collectors, insurance companies and other agencies for reducing
financial risk.

Merge or Acquisition decisions

For creating good brand in the market, financial department
works with marketing department and both takes the steps of merge and acquisition action. Main
aim of merge or acquisition is to reduce competition and spread on brand in the market. Finance
department provides the money for takeover any other firm for estimating its long run return.

MARKETING DEPARTMENT
Surfine tools company doesn't have marketing department but has
an executive person to maintain the marketing area.
BOOK KEEPING:
Book keeping is that branch of knowledge which tells us how to keep a record of
business transaction. It is considered as an art of recording systematically the various types of
transaction that occur in a business concern in the books of accounts.

CONCLUSION:
As for the researcher’s observation through the study researcher has found out that the
PWA is performed according to the needs of the situation policy, in some causes there are strict
and confidential policies, while in some other cases there is not much structured policy, but more
or less practices at SURFINE TOOLS is done for the sake of the organization and the managers
and employees working in it.

SURFINE TOOLS aims to provide efficient, consistent and cost effective service to
consumers, needs to carry on its reputation in the coming years, the efficiency of the organization
depends not only on the efficient employees but also on maintaining and developing their skills
through training and development.
Although PWA has some limitation still the organization is running its operation
successfully and that indicates that the system is adequate enough to maintain the efficiency so, we
can conclude that PWA practices at is good enough, though not a perfect one.

PREPARATION:
www.surfine tools.co.in
www.india mart.com