Organization Study conducted at

Unit of Titan Industries Limited

Bharath Asrani
3rd sem MBA
 Introduction to TITAN INDUSTRIES LTD.
• India’s leading manufacturer of watches & jewellery.
• World’s sixth largest manufacturer brand of watches.
• Established in 1984 as a joint venture between the Tata Group & the
Tamil Nadu Industrial Development Corporation transforming Indian
watch market offering Quartz technology with international styling,
manufactured as its state of the art factory at Hosur, Tamil Nadu.
• In 1995, the company diversified into jewellery under the brand –
Tanishq.

Areas of Businesses –

Watches
Jewellery
Precision Engineering
Source of the name TANISHQ

TA represents TATA & NISHQ – a Sanskrit word

meaning “gold coin”.
TAN – body & ISHQ – love, both put together
means “love with the body”.

INDUSTRY BODIES
• World Gold Council [WGC]
• Diamond Trading Company [DTC]
• Platinum Guild International [PGI]
 Vision Mission & Goals of the Organization

 Vision
To be a world-class, innovative and progressive organization and to build India’s most desirable brands.

 Mission
To create wealth for all our stakeholders by building highly successful businesses based on a customer-centric approach,
and to contribute to the community.

Goals
 
The Tata group has 5 core values –
 
Integrity – to conduct business fairly, honestly & with transparency.
 
Understanding – be caring, showing, respect, comparison & humanity to the colleagues, customers & communities on
the whole.
 
Excellence – constantly striving to achieve highest possible standards in day to day work& in the quality of goods &
services they provide.

Unity – working cohesively with colleagues across the group & with the customers & partners around the world. Building
strong relationships based on tolerance, understanding & mutual co-operation.

Responsibility – To be responsible, sensitive to the countries, communities & environments in which it works. Always
ensure that what comes from the people goes back to the people many times and over.
 Organization Chart

Managing Director

COO Head BE
jewellery CQH

GM
GM Retail Head, Finance & Comm Head Design ISCM

Na tional S ale s Ma nag er Head CMM Planning & Mkt Mgr Head VM Head Technology Head, jewellery & watc hes Head I SCM Head, quality
 SWOT ANALYSIS

Strengths
• The brand factor. Has many brand loyal customers.
• Product quality, finish & reliability.
• Highly trained sales staff & professional in dealing with the customers.
• Design differentiation appealing to the target consumer.
• It is known for its corporate social responsibility.

Weaknesses

• Limited range of products compared to the products offered by small &

medium sized jewelers.
• The pricing at Tanishq is slightly on a higher side. Pricing & the price
perception to the customers also add a certain disadvantage.
• The traditional purchase of jewellery for decades from family run jewelers
come in the way of the sales which results in low emotional connect.
Opportunities
• The jewellery market is estimated at Rs.65, 000 crores & is
constantly growing.
• Tremendous scope for improving the market share.
• The globalization policy has also resulted in the growth of many
malls & shopping centers which provide opportunities to push the
products.

Threats
• Increasing prevalence of brands marketed by industry bodies such
as DTC, which are stocked & sold by unorganized jewelers.
• Other private players have recognized the need for building up
their brands & are working constantly towards achieving the same.
• Increase in the demand for artificial jewellery.
 STUDY OF THE DEPARTMENTS
PRODUCTION DEPARTMENT
The Manufacturing Process -
Refining > Alloying > Waxing & Casting > Soldering > Sizing > Linking > Enameling > Stone
setting > Polishing > Coloring > Rhodium Plating > Lock Mechanism

Procurement of raw materials –

• Raw material which is gold is procured from the Reserve Bank of India [RBI], Scotia Bank, etc..
• The unsold stock of the gold & the old gold which the company purchases from the
customers in-exchange of new jewellery also contribute as the raw material for the
production.
• Diamonds procured from the Diamond Trading Company.
• Platinum mined through legal & safe sources.
• Precious & semi-precious stones are also mined through legal & safe sources and also have a
GIA [Gemological Institution of America] certification.

Output -
• Plain gold jewellery
• Diamond studded jewellery
• Stone set jewellery
• White gold jewellery
• 24 & 22 KT gold coins
 HUMAN RESOURCES DEPARTMENT
Recruitment

• Associate level – calls for interviews. Planning is also done with respect to the attrition levels.
The movement of the Regional Sales Officers [RSO’s] from one retail boutique to the other also
conducted in case there is shortage of the man-power.
 
• Mid or senior level – it is usually the internal recruitment that is practiced
 
• Corporate level – internal mobilization is the first resort & in case there is no other prospective
candidate for the required position then external recruitment is implemented.

Induction

• Guidance by their seniors with respect to the work that is expected out of them. Field visits are
conducted & also representatives from the various departments address the new work force.

Promotions
• Promotions given to the employees only on the basis of performance, dedication, hard work,
customer satisfaction, tenurity & so on which should be achieved on a continuous basis.
Performance Appraisal
• The method of the performance appraisal used in this organization is like the one – to - one
basis. Every individual is judged on several parameters and is required to give a rating on
what he/she feels. Then the supervisor has a one-to-one meeting with the employees and
based on the parameters & the expectations set, adjudges ratings to the employees.

Rewards & Recognition

 
The recognition parameters –
• Sales Target Achievement – 55%
• Conversions – 15%
• Gold Harvest Scheme – 15%
• Voice T – the actual forms filled / walk-ins attended – 10%
• Grooming & Conduct – 5%

Training & Development

• Main purpose is to improve the quality of the selling process
• Training on product knowledge
• Grooming & soft skills training
• Managerial training
• Workshops, seminars, training programs on personality development, stress & time
management, etc..
 MARKETING DEPARTMENT

New product development

• Design Team – To derive new designs based on the current trends prevalent
in the international market.
This team contributes to over 10,000 new designs per year in the market.

• Manufacturing Team - To visit the best jewelers in the world, check out the
trends of international exports, bring in the latest & feasible technology and
produce high quality products with low costs & the up gradation of facilities.

Order Filling
• Internal customers – Franchisees who are the actual owners of the business.
Titan bills all the products to them & they in turn bill the products to the
prospective customers. It’s a B-B concept where the franchisees get a 60 day
credit period
• External customers – are the direct customers who drop into the boutiques
for their purchases. It’s a B-C concept & the customers don’t get any credit.
Visual Merchandising 
means visual appealing merchandise. It refers to the product presentation at the store to
influence a product purchase.
 
Retail Operations
• Customer – Customer understanding, Customer satisfaction, Customer loyalty, etc..
 
• Salespeople – The front end people that bring the brand experience alive to the customers
through product knowledge, expertise, etc..
 
• Process – A national chain of multiple stores in multiple locations expected to deliver
standardized & uniform level of service.

Lean Retailing 
refers to a set of principles & tools emphasizing reduction of all types of wastes/non value
added activities in the supply chain with the involvement of a large number of people
organized into teams.

Voice-T
  is a Customer Satisfaction measurement tool that is used to collect feedback from the
customer (purchasers & non-purchasers) on a quarterly basis.
 Specific Management Problem

• The Golden Harvest Scheme [GHS] that is employed by Tanishq accounts

for 15% of the overall performance of an RSO when his/her performance
for the month is considered. But it happens to be the next top priority in
the performance calculation as the RSO’s are penalized with lesser
incentives if they fail to achieve their target. This being the case there is
lot of misunderstanding & a sort of a cold war between all the employees.
Due to this groups are formed and each & every employee is comfortable
in the company with whom he/she gets along well. If one particular RSO
attends a customer, he/she is supposed to be the person who presents the
GHS. In case if the RSO by any chance goes about to check the price on the
computer system, the customer is approached by another RSO & if the
customer wants to take the GHS, this GHS is initialed under his/her name
& not on the latter’s. This is not ethical & sometimes the RSO’s end up
quarrelling among themselves. This again is not healthy for the
organization, as they want the people to work together & not quarrel
among themselves.
 Recommendations & Conclusion

• I recommend that if any RSO attends a customer, it is his/her duty to

present the GHS to the customer. The customer may go ahead or may not
be interested in taking up this GHS. Whatever happens the other RSO’s
should not intervene in-between & take away the credit of opening the
GHS. If anything like this happens, the superior should intervene & give
the credit of opening the GHS to the latter. By doing this, it would bring in
some amount of seriousness with regard to the work place ethics that has
to be followed & instances like these would not occur in the future.
 BIBLIOGRAPHY

• Sales Induction Manual

• Retail Sales Officer Intern Lesson Plan manual
• Company Website - titan.co.in
THANK YOU