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INTRODUCTION
1
INTRODUCTION
2
INDUSTRY PROFILE
Furniture is a mass noun for the movable objects which may support the
human body, provide storage or held or contain smaller objects such as clothes,
tools, books, and house hold goods. Furniture is a product of design and is
considered and forms of decorative art. In addition to furniture’s functional role it
can serve a symbolic or religious purpose. Furniture is the name given all movable
and immovable accessories provided for rooms or other areas of any structure for
a wide range of material but wood and materials are usual what is known about
furniture stretches back to the ancient Egyptian and progress with some breaks to
the present day. During these long span basic forms, such as the chair, table and
were evolved and passed on to the succeeding people and culture.
HISTORY OF FURNITURE
The word furniture come From the French word “FURNITURE” which means
equipment. Furniture fashion has been a part of human experience since the
development of non nomadic culture evidence of furniture may survive from
Neolithic period and latter in antiquity in the form of painting such as the wall
murals discovered at pupil l, sculptures and example have been excavated in
Egypt. The history of furniture is very wide it is consisting of period start from
Neolithic, Classical, Early Morden Europe, 19 th century, early North A From the
earliest of times, man has sought to invent things to make his life easier. And from
the dawn of recorded history, man has built and used furniture. Furniture as we
know it was first used in the middle-east and Mediterranean areas.
The Egyptians, who to this day produce fine furniture, created some of the
world’s first functional furniture. Crude by today’s standards, this furniture was
designed to make life easier and as such was quite successful One of the first
pieces of furniture invented was a throne, after all how could a people have a king
with no place for him to sit? The basic concept of a storage box, a table or chair
was not difficult to design.
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Neolithic; the main evidence of this era is bare, Orkney’ Scotland evidence of
home furnishing i.e. dresser containing shelves.
Early modern Europe; the furniture was usually heavy oak and ornamented
with carved design the Italian renaissance in 14 th and 15th made a rebirth to
furniture design in 17th southern and northern Europe were popularised by
different kind of furniture especially provision of vegetal and scrolling ornaments.
In 18th furniture began to develop more rapidly there were some styles that belong
to one nature.
Modern furniture; after the world war there were three kinds of furniture,
functionalist modern, traditional modern, commercial modern.
Asian History
Asian furniture has a quiet distinct history. The tradition out of India, Pakistan,
Indonesia, and Japan are some of the best. But the place such as Korea Mongolia
and the countries of south East Asia had their own unique facts.
European Union: Italy, France, Germany, and Denmark are the leading, exporting
countries in the furniture industry.
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Turkey: Turkish furnishing industry, is one of the fast growing and, potential for
modernisation.
Mexico: México were important furniture exporting country, but now it were slow
down.
Russia: Russia also one of the slow running furniture industry in modern period.
Egypt: local supply is oriented towards, satisfying domestic demand. Only three
percentage of production is exported.
Engraved ebony-wood India furniture was known in South India during the
19th century. Later rosewood became popular also in that region. Walnut India
furniture was famous in North India. Kashmir, sheesham furniture was known in
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the plains. Traditional wooden carvers still use simple tools following the Furniture
India styles which have been passed on from generations.
Furniture industry in India seeks more export trading. The imported woods
are used by most of the Indian companies. Rose wood, teak wood, mahogany,
are some Indian woods are used for furniture industry. Malaysian rose wood and
African paddock also available in the Indian industry.
As of 2019, the Indian furniture market was worth US$ 1358million. About 11
%( US$152million) of this (wooden furniture) is imported and imports are growing
at 50 to 60 % every year. India was the largest furniture importer in the world in
2004-2005 with a 17% share in the furniture imports worldwide a total of 10478
importers shipped furniture to India during this period mainly From Italy, Germany,
Spain, China, Korea, Malatya, Indonesia, Philippines and Japans.
6
Furniture companies must look towards the important and potentially giant
Indian consumer markets, since all world leaders in deferent industrial sector have
already established their production in joint venture in India.
Since the furniture industry in India is at the threshold of a big boom in the
next three years it’s time for companies to consider a serious business activity
over there. Some companies have already set up their manufacturing units.
India is a land of wonderful and marvellous artistic work of wood. The rich
handicraft and beautiful traditional attributes of art and design have established a
reputation of Indian Furniture Industry in the nation and worldwide. The
exceptional designs, rich, compact, and luxurious trends and, not the least, the
supreme quality have given elegance to the furniture segment in the traditional as
well as modern aspect.
To conclude the vast development and growth of the industry, it can be well
quoted that it has infarct become a great pride for the nation to hold a magnificent
impact for its fine art and marvellous work in furniture all over the world. The future
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is with too many bright colours of growth miles and miles ahead in terms of unique
furniture of all trends to occupy every thought of decorating or renovating the era
for decades and decades. Three cheers for the excellent growth of Indian
Furniture Industry.
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CHAPTER 2
COMPANY PROFILE
9
Incorporated in 1965 Featherlite is one of the leading furniture manufacturing
organisation in India today, providing complete office furniture solutions for all
segments of market through its strong base of direct and franchisee offices present
across 62 locations in India.
Feather Lite has demonstrated Execution of mega and multi location projects without
compromising on requirements of the customers. The company manufactures more
than 30,000 chairs and 8000 workstations in a month.
Operating from factory space spanning more than 3 lakh sq. feet, the company has
over 10,000 esteemed customers pan India including giants like Cognizant,
Mercedes, Hindustan Unilever, Caterpillar etc.
It’s one of the very first furniture organisations to acquire quality certification such as
COMPANY REVIEW
10
NAME OF THE FIRM : FEATHER LITE
COMMENCEMENT : 1965
MANAGING BODY : MANAGING DIRECTOR
: BOARD OF DIRECTORS
EMPOLYEMENT : ABOUT 800 WORKER S
MAIN MATERILAS : ROSE WOOD, TEAK WOOD, STEEL,
MAHAGANI, UPHOLSTERY AND
POLISHING
11
OBJECTIVES OF THE COMPANY
VISION
“To be the preferred furniture manufacturer with the highest user base whilst
delivering world class quality at affordable prices for the masse”.
MISSION
“To provide reliable and efficient customer-tailored products and services for
the client using highly trained personal, aided by advanced technology and sound
technical expertise, all the while continually striving to maintain the highest sense
of ethical and moral standards”.
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ORGANISATIONAL CHART
BORD OF
DIRECTERS
MANAGING
DIRECTERS
SECURITY
ACHIEVEMENTS
13
Amazon
Urban Ladder
Tech Mahindra
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Rovi
QSI :
15
Vodafone
HCL
16
Infosys
17
Mercedes Benz
Novo Nordisk
18
Fico
Denske Bank
19
Tally
Xerox
20
OLA
NOKIA
21
And many more.
FEATHER LITE Is planning to start its business in all over India and also they
are planning to start in gulf countries. Their business in Noida is reaping huge
profits, So they want to establish their units in aboard and they are also planning
to strengthen their export.
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PRODUCT PROFILE
FEATHER LITE has spectacular range of products that transform the house
in to luxuries home. Our skilled and dedicated work forces have produced some of
the best designs in the furniture segment. And thus have provided us with big
reputation, in India and abroad.
MAJOR PRODUCTS
Sofa Sets
Sectional Sofas
Recliners
Sofa cum Beds
Chairs and Benches
Centre/side Tables
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Balcony Sets
Outdoor Dinning Sets
Outdoor Sofas
Restaurant/Stackable Chairs
Swings
Coffee/Side Tables
Work Stations :
Connect L Shaped
Collaborate L Shaped
Perform L Shaped
Neo
Edge
Colours
Height Adjustable Desk
Executive Tables :
Senate HT Series
Signature
Integrate
Connect
Collaborate
Zen
Versaline
Gamma
Edge
Flite
Conclave
Education :
Chairs
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School Benches
Library
Hostel
Auditorium
Labs
General Sittings :
Cafeteria
Multipurpose
Public Seating
Office Sofas
Lounge
Qbe Work Lounge
Auditorium :
Grow
Atlas Audi
Click Audi
Venus
Office Chairs:
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Pinnacle Optima
Amaze Click
Invention Anatom
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Crown Chrome
Tycoon Bravo
Bodyline Smart
Forum
27
STRUCTURE OF PRODUCTION DEPARTMENT
PRODUCTION MANAGER
QUALITY SUPERVISORS
CONTROLLER
WORKERS
28
PRODUCTION DEPARTMENT
PRODUCTION PROCESS
FEATHER LITE able to keep up their brand name in the market because of its
particular style of production and High quality of furniture with excellent design of
the company. The production department of FEATHER LITE is having a vital role
in the high quality of products, the production process of FEATHER LITE also so
better than compared to other furniture manufactures. The production function
carries out the following process.
Sizing
This is the first stage in the production function under this stage the round
longs are cut in the required size by sowing. Then the pieces are planed
according to their necessity and design of the product. For sizing the long rounds
they are using deferent type of machineries the main machines are names..
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Seasoning
a) Chemical seasoning
b) Natural seasoning
Chemical seasoning
Chemical seasoning is done in low quality timbers certain chemicals are used
for this purpose usually chemical seasoning is done in rubber wood due to this
process it become hard and dry. Now this kind of furniture is popular in office
furniture and house hold equipments.
Natural seasoning
Under this process timbers are seasoned purely by way of natural storing in
river or open area for log days. it is subject to rain and sunshine for some days in
this way all moisture is removed from the wood and it become dry. Natural
seasoning is a time consuming process same time delay in executing orders,
hence to speed up seasoning plans are installing wood is kept in standard size
and thickness in the special plant and certain amount of stream and cold is
passed through it. This may be done for a period of 6-7 days. After completing the
seasoning process the wood will pass to carpentry section.
Carpentry
This is the main stage of production process. Carpentry section is the biggest
section in this factory where more workers are required compared to other section
in this stage, timber longs are checked if any defective part is there it will again
send for further operation. Skilled labours have given full freedom for this work.
One worker is assigned for the complete work of that particular product. So there
will not be any confusion and any riper is needed he can do it easily.
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Assembling of furniture is carried out in this section if any carving work is
necessary, it will be sent to craving section before assembling or after assembling
as the case may be.
Craving
After the carpentry semi finished products will send to the craving section. If
necessary all the craving on one product is done by same workers. Highly skilled
labours are employed for this work under this firm craving is done by hand work.
There is no machinery used for this purpose because the quality of carving by
machinery will not reach carving by hand work.
Polishing
The next process is polishing, under the polishing department the first
process is surface furnishing by applying sand paper, Secondly filling the surface
by using transparent wood filter. It is used to fill up hols and small damages.
Thirdly the surface is coated with sealer, each time sand paper work is repeated,
and then the putty work done in all furniture by using matching colour wood. After
this work polishing work is carried out. There are deferent methods for polishing.
Under this polishes some are glazy and some are not glazy. After the polishing
works the furniture will move to the next section that is upholstery section.
Deferent polishing are;
Lacquer polishing
Melamine, gloss machine polish
Matt polishing
Ordinary wood polish
Upholstery
Upholstery is not used for all kind of furniture. It is used only for in sofa, divan
cot, dining chair, steel chair, etc. For upholstery work they using various types of
cloths, velvet, and cotton, and they are use high quality polythene. It is the last
step in the process of furniture making.
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PRODUCTION PROCESS CHART
SIZING
SEASONING
CARPENTRY
CARVING
POLISHING
UPHOLSTERY
STORE
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MACHINERIES USED FOR PRODUCTION PROCESS
TREATMENT OF WASTE
Under this firm, the production takes various stages. Certain amount of loss
occurs in various stages of production. There is always some waste and sap-
wood. The wastes are sold as fire wood and dust.
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QUALITY ASSURANCE
COST OF PRODUCTION
TIMBERS 30
UPHOLSTERY 20
POLISHING MATERIALS 10
OTHER MATERIALS 20
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STRUCTURE OF MATERIALS DEPARTMENT
MATERIALS DEPARTMENT
CLERKS
/ACCOUNTA
35
MATERIALS DEPARTMENT
Material is one of the most vital factors for production and the most important
part of the necessary asset in all the organisations. Materials accounts for 60% of
the cost of production according to an analysis of the financial statement of large
number of privet and public organisation. Material management can be defined as
the function responsible for the co-ordination of planning, purchasing, moving,
storing, and controlling materials in an optimum manner so as to provide pre
decided services to the customer at minimum cost.
FEATHER LITE furniture manly producing the furniture items; so wood is one
of the important materials they are using for production purpose; the main material
for production as follows:-
Timber
Upholstery materials
Steel items
Polishing materials
Nails, Nuts and Bolts
Packing materials
Other materials
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COST FOR MATERIALS ON TOTAL MATERIAL COST
Timber 35
Upholstery materials 25
Steel items 5
Polishing materials 20
Packing materials 5
Other materials 7
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FUNCTIONS OF MATERIAL DEPARTMENT
PURCHASING
The materials department purchase some items of woods from the suppliers
with in the country. The main sources are Greater Noida, Ghaziabad, Modinagar,
Baghpat, Mathura etc. sometimes they will purchase the woods locally.
The company purchase their materials sometimes from outside India. Quality
assurance is the main motto of the firm. They are using high quality of wood. The
woods are mainly imported from Africa, Malaysia, Burma, Thailand, etc. The
upholstery materials like velvet and other type of cloths are imported from UK,
USA, and Japan etc.
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PURCHASE PROCEDURE
Purchase requisition
The purchase officer in the purchase department does not initiate any action
for the purchase of materials on his own accord. For purchasing the materials the
purchase department should get proper requisition letter from the concern
department the letter is known as ‘requisition letter.’
Floating enquires
After receiving the concerned requisition letter next step is decision regarding
from where materials is to be purchase, the purchase department keeps a list of
the suppliers which contain the name, address and other details about the
suppliers who are providing the required items of material for this firm. A number
of factors are to be considered while selecting the suppliers such as reliability,
financial position, quality of goods, terms of delivery, conditions of payment, etc.
Enquiries made in the prescribed form are sent to deferent parties for obtaining
quotation.
Selection of suppliers
After receiving quotation from the supplier’s next step is the purchasing officer
will compare different factors concerned with the materials and suppliers. While
selecting the supplier the purchase department consider the following factors,
manufacturing or supplying capacity, and reliability of the supplier, quality of the
product management of the supplying firm, price quoted, and terms of payment
terms of delivery.
After selection of suppliers the purchase department will call the concerned
supplier for negotiation. It includes deliberation on quality, quantity, price, time of
delivery, place of delivery, mode of transportation, etc.
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Sending purchase order
After choosing the supplier, the purchase department prepares order or the
concerned supplier. The order is the written authorised to the supplier to supply
the particular material. Timber is the main raw material for this firm the material
department of the unit has regular purchase of the material like timber, polishing
materials upholstery materials, etc.
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CHART SHOWING PURCHASE PROCEDURE
Inviting quotation
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STORING OF MATERIALS
The firm is storing all the materials in their warehouses. They are having
deferent warehouses for storing the materials. Under this firm the maximum stock
level is maintained by the material department is one year. In the case of timber 3
month is the average stock storing period other materials like polishing and other
chemical items will store for one month. To avoid problems arising due to the time
lag in receiving materials, they will keep half month materials as safety stock.
CLASSIFICATION OF MATERIALS
For storing and retrieving materials they are classified mainly in five types,
Woods, Polishing materials, Upholstery materials, Nuts and Bolts, and other
items. Manly four types of wood are used for making furniture; they are red wood,
rose wood, teak and mahogany. The main types of polishing materials are natural
polish, Lacquer polish, semi Lacquer polish, and melamine, matt and wood polish.
All these items are storing in deferent warehouses.
ISSUE OF MATERIALS
The store keeper issues the materials on proper authenticity to avoid miss
appropriation of materials. A materials requisition serves the purpose of an
authenticity to the store keeper to issue the materials; it is signed by the
authorised person. When the issue pass is received by the store keeper, he will
check the authenticity and verify whether it is filled and coded properly. Material
issued from the store is valued under first in first out (FIFO) method. The issue
orders are fed in the computer for day to day recording, all the information are
preparing by using the computer.
INVENTORY CONTROL
Inventories have the vital role in cost of product so we have to control the
inventories for reducing the cost of production. Under this firm in order to have
proper control on inventories, it is practiced to fix the minimum and the maximum
limits of inventory so that there should be neither over stocking of material or
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shortage of material. To fixing the level of inventories they are considering two
factors.
1. The Time between purchase requisition and receiving the materials i.e.
lead time.
2. Rate of consumption during lead time.
Under this system an order of sufficient size is placed when a minimum point
in inventory is reached, to bring the inventory to the maximum point. Past
experience may help fixing of minimum and maximum point of inventories. One of
the other methods used by the firm for inventory control is Re-ordering level or
ordering level. It is a point where orders for fresh material are placed with the
suppliers. The point is fixed somewhere between the maximum and minimum
point. In such a way that the quantity available between the minimum level and
this point is sufficient to meet the requirements of production up on the time fresh
suppliers are received.
For fixing the ordering level, a danger level is considered. It is a level at
which normal issue of materials are stopped or made at specific instruction of
purchase officer. At this point the purchase manager makes the effort to get the
materials available wit in the earliest possible time. This level is below the
minimum level of stock. These are the important methods used by the firm for
inventory control.
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STRUCTURE OF MARKETING DEPARTMENT
44
MARKETING AND SALES DEPARTMENT
The marketing department must act as a guide and lead the company's other
departments in developing, producing, fulfilling, and servicing products or services
for their customers. The marketing department typically has a better
understanding of the market and customer needs, but should not act
independently of product development or customer service. Marketing should be
involved, and there should be a meeting of the minds, whenever discussions are
held regarding new product development or any customer-related function of the
company.
The Marketing Department focuses on all product and brand functions, and is
generally headed by the director of marketing. Product or brand managers under
the director are usually assigned to a specific brand or category of products. Sales
management is the term applied to the process of distributing goods from the
producer to the ultimate user. It consists of advertisement, selling, storing,
transporting, financing and risk taking.
SALES DEPARTMENT
The sales department is responsible for meeting the sales and volume goals
as set forth by the chief marketing officer. The department is usually headed by
the director of sales. The sales department works closely with the marketing
department, providing vital insights and feedback on customer needs, issues, and
the competition. Most of their work is external. They are charged to develop strong
sustainable relationships with retailers and key clients and increase sales orders.
Feedback from the sales department is critical and greatly relied upon in new
product development, analyzing pricing, and identifying new channels for
distribution, sales and marketing efforts.
FEATHER LITE’S furniture is following the indoor selling system they are
selling the goods to the customers who visit the showroom for purchasing
furniture. Seven sales executives are working in the showroom at M.G. ROAD,
DELHI for capturing the customers. In the year 1995 they started their export
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business in small manner, now they are concentrating more foreign market.
Furniture supplied from FEATHER LITE, adorn the palaces of many Sultans of
Gulf as well as many VIPs of Europe, UK and USA. FEATHER LITE has every
reason to be proud of its products that are still sought avidly by many from India
as well as from abroad. Such is the quality of his furniture. He thinks in terms of
decades than immediate future.
Today, FEATHER LITE’S Furniture Mart has its giant showrooms at Noida,
Delhi and Gurugram. More over franchisees has also been given to some to deal
with his trademark furniture elsewhere.
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sales profit
68.12
61.42
54.32
48.05
42.91
35.71
30.71
23.2 24.9
21.83 21.9
18.9
13.16
7.35 8.93
4.06
FEATHER LITE Market its products both in the domestic market and the
international market. Majority of the products are selling in the domestic market.
Home market
The home market comprises of the area within the state and outside the state.
The firms customers are mostly located the district of Noida, Ghaziabad, Greater
Noida, Delhi, Gurugram, Banglore, Chennai, and all over India. The products are
also having the demand from the districts of the Uttar Pradesh and other state like
Delhi, Haryana, Andhra Pradesh, Kerala, Tamilnadu etc. The company gives most
care and attention to maintain the quality and perfection of its products. Still the
company is facing its problem in meeting the demand in roper time. Most of the
customers are NRIs, business mans and other rich peoples in the society. The
firm is planning to start its business in all over India.
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International market
The company is having wide range of international market for its products.
Nowadays the company is more concentrating in foreign market. It started
exporting in the year of 2000, the main countries they are exporting is Bahrain,
UAE, Dam am, Muscat, and Saudi Arabia.
ADVERTISEMENT
Every business wants to increase the sale of goods that he deals in. He can
adopt several Ways for that purpose all these are incentives offered by
manufacturers or dealers to increase the sale of their goods. These incentives
may be in the form of free samples, gifts, discount coupons, demonstrations,
shows, contests etc. The FEATHER LITE furniture also using this kind of
promotional tools for increasing their sale some of the important tools they are
using are; premium or bonus offer, exchange schemes, price-off offer, fairs and
exhibitions, scratch and win offer, money back offer, etc.
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PRICING POLICIES
FEATHER LITE is manly looking for the high income people so the price
range of the products are also higher compare to other firms. Based on the
variation in the market the price level will change, the prices are changing on the
basis of changes in the raw material and other items cost. They are using the cost
plus pricing strategies for their products.
The most of the products of FEATHER LITE are costly products they are
mainly looking for middle class and upper class people. They are producing the
products for high standard people. And the company providing more services to
its costumers if the customers are not satisfied with the products in the showroom,
they will make the products according to customer’s preferences.
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STRUCTURE OF HUMAN RESOURCE DEPARTMENT
OFFICE
WORKERS
FACTORY
WORKERS
50
HUMAN RESOURCE DEPARTMENT
With the increase in the size of business, manpower has become the most
vital factor in business. Human recourse management is a specialised branch of
management that deal with the people in the organisation. Human resource is the
principal asset of business or industry. People are the main subject matter of
human resource management and its business to educate employees, managers,
line and staff and supervisors to place high value of the dignity and work of
individual human being.
Human resource management is the part of total management of FEATHER
LITE’S Furniture, which specially deal with human resource with respect of their;
INCENTIVES AND
LABOUR
WELFARE
ACTIVITIES.
HUMAN
RESOURCE
DEPARTMENT
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RECRUITMENT AND SELECTION
Recruitment is a linking function joining together those with job to fill and
seeking jobs. Recruitment makes it possible to acquire the number and type of
people necessary to ensure the continued operation of the organisation. The
recruitment and selection process under FEATHER LITE’S are doing in two ways
internal recruitment and the external recruitment.
Internal recruitment
The internal recruitment is seeks applicants for positions from those who are
currently employed in this organisation the main methods of internal recruitment
are transfer, promotion of present employer and employee references. An
employer and employee reference is the main method of recruitment.
External recruitment
SELECTION
Various tools and techniques are adopted by the firm for the selection of
candidates for various categories of post. Application blanks are employed for
extracting the detailed bio-data of candidates. The company calls the eligible
candidates for interview. Practical and written test are conducted for selection to
technical post. For the post of clerical staff, written test and interview are
conducted for the candidates.
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TRAINING AND DEVELOPMENT
Under this firm the selected candidates are given training in the specified
jobs at the end of the training period the trained people must be capable of taking
work as per the conditions if the employees are not able for particular work the will
treated as cancelled. The training activities are conducted not only for new
employees it is used continually in every well run established further,
technological changes, automation, require up-dating the skill and knowledge.
Under this organisation they are using deferent reward system for the
employees, the workers in the factory are compensated on the basis of hourly
rate, and their remuneration is RS 250 to 500 per hour. Remuneration is deciding
on the basis of work, speed, accuracy. The skilled workers can get RS 450 to 600-
per day, the semi skilled workers can get RS 3000 to 4000- per day the average
labourer can get RS 1500 to 2500- per day. All payments are paid monthly basis.
Other employees in this organisation especially workers in the office and
administrative, they all are working on salary basis.
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INCENTIVES
Bonus
Employees who are drawing more than Rs.3500/- per month are eligible for
bonus almost all the employees working here are eligible for bonus irrespective or
casual worker.
Gratuity
Employees Insurance
All the employees working here come under Employees insurances Scheme.
PROMOTION
Promotion is the movement of an employee from a lower position to another
position with a better pay, and responsibility. Every organization chances of
promotion chances of promotion came up occasionally. Employees will consider
for promotion only if they have qualification and experience in the respective field.
The application received will be screened by the personnel department. Every
employee promoted to a higher post will be on probation in that post for a period
of one year. Four factors are considered for promoting an employee.
Seniority
Test/Interview
Attendance
Performance
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ACCOUNTS DEPARTMENT
Budget Division
The Budget Division prepares the draft budget and amended budget drafts for
firm’s structural units and institutions within its jurisdiction (subjects of the general
budget), guarantees the resources necessary for the firm’s activities and
development, audits and submits a report to subjects of the general budget on the
use of finances and proprietary obligations.
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Bookkeeping and Accounts Division
The Company maintains a clear and perfect accounting system. The main
activity of the Finance Department is Working Capital Management, Preparation
of Fund statement, cash Flow Statement, Balance Sheet, Profit and Loss
Account, etc are the activities of Financial Department. Secretarial work relating to
Board comes under the review of the Finance Department. Most of the activities
carried out by the Finance Department are pertaining to long term and short term
requirements of the operation, closing purchase bill, maintaining the account of
contractors, subcontractors, income tax deduction, salary discrepancy, dealing
with the financial institutions with imports and exports are also the functions of the
Financial Department.
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To maintain the Voucher Registers and all the monthly vouchers properly.
To maintain and keep updated all the subsidiary books/registers of accounts
like, property register, stock register, inventory register, Ledger and other
related records/registers.
CASH MANAGEMENT
Cash is the important current asset for the operation of the business. Firm
should keep sufficient cash, neither more nor less. In this context cash
management of a company is very important. At FEATHER LITE cash flow
forecasting is done for a short term period. The adjusted net income method is
used for the short term forecasting. Cash budget is prepared periodically. When
the company is running on profit, it is prepared monthly.
The major cash inflow and out flow at FEATHER LITE is through operating
activities. It is giving only adequate importance to collection, since most of the
sales are done on ready cash.
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Chapter 3
RESEARCH METHODOLOGY
RESEARCH METHEDOLOGY
PURPOSE OF STUDY
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“A DETAILED STUDY OF FEATHERLITE’S MARKETING
STRATEGIES & THE RANGE OF THE PRODUCTS”
DURATION OF PROJECT
OBJECTIVES OF STUDY
Maximizing the real estate potential + reducing energy and paper usage
TYPE OF RESEARCH
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Research is one of the most important parts of any study and pertains to the
collection of information and knowledge. Marketing research is defined as the
systematic design, collection, analysis, and reporting of data and findings
relevant to a specific marketing situation facing the company. My project has
been developed on has basis of both exploratory and descriptive research.
The research process depends upon developing the most efficient plan for
gathering the needed information. Designing a research plan calls fro
decisions on the data sources, research approaches, research instruments,
sampling paln, and contact methods.
Data Source
For this project both primary and secondary data were valuable sources of
information.
Secondary data
Secondary data provides a starting point for any research and offers valuable
sources of already existing information. Secondary data are the easiest to
gather and the cost of collecting this data is also very low. For my project work
it was collected through the help of various directories of various associations,
magazines, newspapers, websites etc. The directories helped me in short
lisitng people, for my target people.
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Some of the directories made use of are as follows:
Telephone directory
Income tax office
City directory
Chartered accountant directory
Carpet industries directory
Indian medical association directory
Transporter directory
Lawyers directory
Builders & constructors directories
Primary data
Primary data are data freshly gathered for a specific purpose. For my project
work the primary data was collected by means of survey though
questionnaires.
Contact methods
Once the client had been decided now my task was how to contact them, and
for me there only two ways of contacting them.
• RESEARCH DESIGN
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Research design is the arrangement of condition and analysis of the data in a
manner that aims to combined relevance to research purpose with economy
in procedure.
• SAMPLE DESIGN
• Sampling Unit
• Sampling size
• Sampling Method
SOURCE OF DATA :
PERIOD OF STUDY:
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The time period of the study is almost eight weeks i.e. from 10th June, 2019
to 19, July, 2019.
SCOPE OF STUDY
Feather Lite is one of the most famous Furniture making company in India.
The various products and services offered by it include:
PRODUCT
Office Chairs
Workstations
Executive Tables
Education
General Seatings
Living and Outdoor
Anyone who has worked in an office environment for the last decade can
attest to the noticeable difference in the workplace of today versus five or ten
years ago – changes in how the workplace looks, feels, and how it operates.
And with a robust set of micro and macro forces changing what we do and
how we do it, transformations to the physical workplace have only just begun.
Reductions across the board: The need to reduce costs including real
estate and energy costs and foster sustainability
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Distribution of work: The dispersal of work and employees being able to
work anywhere and at anytime
The war for talent: Increased workforce competition and the need to
attract and retain top employees
Limitations of Study
The study was based on a very modest sample size hence cannot be
called as a representation of the views and opinion of the majority.
In a rapidly changing industry, analysis on one day or in one segment
can change very quickly. The environmental changes are vital to be
considered in order to assimilate the findings.
The conclusion arrived at are based on a very less experience of
researcher in this field.
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Chapter 3
DATA ANALYSIS
65
Q.1 Which are group do you belong (Age wise) ?
Less
than 25
25 to 40
40 to 55
Above
55
Interpretation :
After looking this bar graph, it can be said the middle-aged group are the main
customer of the company as they occupied almost 75% of this graph. The Featherlite
Furniture has a huge potential in terms of the untapped market – Young and old age
group people. Good quality products attracts the youth and large number old age
people (especially in metro cities) has made them attractive potential customers.
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Ser
vice
Busi
nes
s
Stu
den
t
Oth
ers
Interpretation :
67
Q.3 What features/attributes, while purchasing a product from
Feather Lite?
Quick
Services
Proper
informatio
n
Working
hours
Less
Formalitie
s
Variety of
Product
Interpretation:
When a customer visits any showroom the first and foremost thing he expects is the
quickness of service and the promptness in entertaining by the company’s employee.
Second thing customer wishes to have is proper information regarding his queries.
Varieties of product not make a big impact on customer behavior for purchasing an
product from any company if its services are efficient. But on the other hand
company can’t ignore working hours. As in this bar customer has erred it. For these
services like company preference should be given to make a prompt and customer
friendly service channel. For this focus must be given to make well informed and
proactive employee along with work should be executed technologically rather than
manually.
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Q.4 Who influenced to purchase a product from Featherlite?
Friend
and
Relativ
e
Adverti
sement
Bank
Employ
ees
Prospe
ctus
Interpretation :
As it is said a satisfied customer is the best medium for advertisement since in this
bar friends and relatives have play a key role in purchasing products others, which
implies that companies real customer are satisfied enough with the facilities
available on the products and the services enjoyed by them. An advertisement and
company employees more or less has been good performer in their respective
domain. It reveals advertisement of different medium, as been a key factor in
generating the awareness about company’s product as well as facilities that are
made to available on then in the peoples mind.
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Q.5 In comparison to other furniture companies how would you rate
Featherlite?
Excell
ent
Good
Avera
ge
Poor
Can’t
Say
Interpretation :
Rating of any company depends on its overall performance in the eye of the people.
This bar is vividly showing that the performance of Featherlite Furniture has been
good because in such a short span of it’s existence in India with strong competition
from major competitiors like Pepperfry, Wooden Street, Fab India, Furnspace,
Furniturewals, Durian, Godrej Interio, Damro, Neelkamal etc. Reason for this could
be, it has occupied a different position in the people mind with its customer friendly
products and to serve them a efficient and prompt system.
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SWOT ANALYSIS
STRENGTHS
71
Increasing demand in modern, clean and minimalist designs.
Large size of market within the country and all over the world.
Speciality of craftsmanship.
WEAKNESSES
72
The Price ranges of products are very high and not affordable for all kind of
people.
taste of customers.
OPPORTUNITIES
73
Big potential market in furniture Design and emerging new market segment
in furniture.
THREATS
74
Competitions from new entrants in to furniture industries.
Rising cost for materials and other equipment will increase the cost of
production.
PROBLEM ANALYSIS
75
FEATHER LITE’S Furniture was started in the year 1965 and toddy they are
one of the leading furniture giant which believes in loyalty and hard work. Today
they are having business all over the state and country and now they started their
business in international level especially in gulf countries. Today they are the
growing business concern in the furniture industries.
After studding about the firm one of the main problems in FEATHER LITE, I
found out is that in the human resource department. That is the company is not
following the real recruitment system in the organisation. They are recruiting
employees manly through reference system. That means they are recruiting the
employees based on the reference from employees and management. So The
Company is not getting proper young and efficient people. Another problems
relating to this firm is the incentive programs. The firm is not providing proper
incentive programs to its workers they are not conducting proper performance
appraisal programs for rating the performance of the employees. it will affect the
performance of the employees. There is also problem in company’s wage and
salary structure, their wage structure is less coppered to other firms so it will affect
the young, well trained and experienced employees.
The problems in the other area are the marketing department. The problem
facing the marketing department is firm is looking manly for high income people so
marketing separately for this kind of people is difficult for the organisation and
another problem is in the marketing the products in international level , the firm is
not able to market the products in international level properly, this area also firm
have to improve.
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CHAPTER 4
FINDINGS
SUGGESTIONS
FINDINGS
77
The company has been in the field of furniture in the last 23 years; so it is
Quality is the main motto of the company; that is the reason customers
The Price ranges of products are very high and it is not affordable for all
kind of people.
The firm is having large size of market within the country and all over the
world.
Highly educated, skilled, young, capable and dynamic human resources are
The firm is does not having proper international marketing skills for
Advertisement is the main tool used by the company for marketing its
products.
Majority of customers believes that the furniture they on reflect their stats.
SUGGESTIONS
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The firm only prefers for high income people, if they are segmenting the
market in to high and middle, it will give more advantages to the firm.
The firm have to improve their international marketing skill; it will help them for
The furniture industry in India is growing at a higher rate so the firm can make
The firm should use the opportunity of growing real estate and office
constriction.
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CHAPTER 5
CONCLUSION
CONCLUSION
80
It was a small and humble beginning for Mr Akul Khanna. He just wanted to
add comfort to the life of many by way of creating furniture. He began to make
household furniture with legendary quality and ethnic touches on most-wanted
woods.. Soon all kinds of furniture, made in Teakwood, Rosewood, Mahogany etc.
began to roll out from his small furniture store in Noida to many places.
Today the firm is renowned for its high quality of products. They have very
good demand for their products in spite of huge product tag. Today it is the one of
the leading furniture giants which believes in loyalty and hard work. Quality is the
main motto of the company; that is the reason customers prefer this company, and the
firm is having the advantage of less number of competitors in the field of furniture
exporting. And every department in the firm is controlled and managed by
professional and experts in the respective fields. And the firm is more concerned
for quality and customer satisfaction.
BIBLIOGRAPHY
http://www. www.featherlitefurniture.com
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http://www.worldfurnitureonline.com/showPage.php?
template=reports&masterPage=Market-research.html
www.economywatch.com/business-and.../furniture-industry.html
http://www.indianmirror.com/indian-industries/furniture.html
ANNEXURE
82
QUESTINNAIRE
(a) Safe
(b) Lockbox
2. Does your firm have external audits performed by an audit form or a certified public
accountant?
(a) Yes
(b) No
(a) Yearly
(c) Other
(a) Yes
(b) No
(a) Yes
(b) No
(a) Yes
(b) No
(a) Yes
(b) No
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8. Does your organization have written accounting policies and procedures?
(a) Yes
(b) No
(a) Yes
(b) No
(a) Yes
(b) No
84