Harsha engineers pvt.

Limited
Indian Supplier of boll bearing Machinery & Parts in Ahmedabad, Gujarat, India.

SUBMITTED BY:Kothari abhi Class:-S.Y.B.B.A Roll No: - 174 Division:-B

SUBMITTED TO:Dipali Atre

2010-2011
N.R.INSTITUTE OF BUSINESS ADMINISTRATION
Gls Campus, Mardia Plaza Lane, Opp.C.G.Road, Ellis Bridge, Ahmedabad-380006

CERTIFICATE
This is to certify that a project report on industrial visit to STOVEC INDUSTRIES LIMITED is submitted by Mr. AMIT S. PATEL to N.R.INSTITUTE OF BUSINESS ADMINISTRATION affiliated to THE GUJRAT UNIVERSITY, in the fulfillment of the requirement for completion of the practical studies in the area of human resource management at the second year bachelor of business administration programme.

-------------------Director DATE: / / 2010

---------------------Prof. In Charge

ACKNOWLEDGEMENT
The successful completion of this report would not have been possible without co-operation and support of my teacher,friends and my institute.

I forward my gratitude to respected director of institute for arranging this visit. I am highly thankful to the management and staff of HARSH ENGINEER LTD. I express my sincere thanks to the staff of the unit who given us all the information and who have guided us during the visit. I am also thankful to Prof. Dipali Atre with whose help, the training was made possible and who provided full guidance,co-operation and valuable suggestion about industrial report. I am really obliged to the company and all those manager,Chief executive & other person of company who heartily give me information about the company by answering my question. I am thankful to my college friends and all those who have helped me directly or indirectly in the preparation of this repor.

Abhi N kothari

INDEX
Sr No. Particulars Page No.

1.
1.1 1.2 1.3 1.4 1.5 1.6 1.7 1.8

COMPANY PROFILE
Name of the company Location of works and registered office Main business and product rang Form of business organization Brief history Mission Business philosophy Board of directors

2
2.1 2.2 2.3 2.4 2.5 2.6 2.7 2.8 2.9 2.10 2.11 2.12 2.13 2.14 2.15 2.16

HUMAN RESOURCE MANAGEMENT

Details of workers Scope of HR activities Organization of HR department Human resource planning Job analysis and Job design Recruitment and Selection process Orientation and Placement Training and Development Performance Appraisal Employee and Executive Remuneration Incentive Payments Employee Benefits and Services Welfare Safety and Health of Employee Promotions, Transfers and Separations Industrial Relations

2.17

Motivation

3. 4. 5. 6.

FINDINGS SUGGESTIONS CONCLUSION REFERENCES

Company profile
1.1 NAME OF COMPANY
Harsha Engineers Limited

1.2 Location of works & registered office

Company Head Office / Quarters: Sarkhej Bavla Highway, Po-Changodar Ahmedabad, Gujarat-382213 Phone : 91-27-17391200 Fax : 91-27-17391259 Web : http://www.harsh engineers.com Address 7 Evergreen Industrial Estate , 1st Floor Shakti Mills Lane , Off E Moses Road Mahalaxmi Mumbai Maharashtra 400011 Tel : 91-22-4922423/56/61 Fax : 91-22-4932980 Head office Stork Prints BV P.O. Box 67 5830 AB Boxmeer The Netherlands

1.3 Main Business & Product Range

INTRODUCTION Cage, also known as retainer is a components used to space,separate and retain rolling elements like balls and rollers of a bearing.the role of cages or separators as they are sometimes known,is threefold.firstly,they spacethe rolling elements equally apart and help with lubricant distribution of separable type bearing speeds.finally , they facilitate handing and installation of separable type bearings.some of the materials used to manufacture cages are steel,plastic and brass. Since bearing are required to accelerate rapidly, cages shold be lightweight and be manufactured from materials that have superior strength/weight ratios.In the past, cages were made from brass or bronze.these had good wear characteristics but progressively became too expressive for all but critical applications. This resulted in the development of steel cages , which provide excellent service at lower cost particularly in ball bearings where the cage presents a large contact area to the balls.

Products
Roller bearing cages Taper Roller bearing cages Needle roller bearing cages Cylindrical roller bearing cages Spherical roller bearing cages Ball Bearing cages Deep groove ball bearing cages Angular contect ball bearing cages

Activities: Production, sales, service & marketing (with agent ATE) Technology
Harshas manufacturing philosophy is to use state of art technology with a clear focus on economies of scale. This scale defines the manufacturing process as manual, semi automatic and fully automatic. The company has developed in-house capability to manufacture spacial purpose machines and appropriate automation technology. In a continuous effort to improve its technology and process,Harsha invests regularly in equipment such as power presses form AIDA, Minster,Schuler etc an CNC machines from Deckel Maho, Sodick,Mitutoyo,Browne & Sharpe etc to get consistent output. Harsha also puts great emphysis on technology in other functional area an uses advanced software for product development and tool design and enterprise resource planning.

Markets served: Textile industry world wide Graphic printing industry in

1.4 Form of organization

HARSHA ENGINEERS are PVT LTD Company. Owners As of November 2007 Stork Prints owners are Bencis Capital Partners (60%) and Stork(40%).

1.5 Brief History of Organization

HISTORY Harsha engineers is a global solution provider of bearing cages as well as special purpose stamped components. It is a preferred supplier of different types of roller and ball bearing cages and cages for bearing with special application.harsh has been a growing organization with significant international presence. Since 1972, harsha brings rich experience gained from customer engagements around the world through technology pantership and strategic alliances. Harsha takes pried in its position as a preferred supplier to bearing manufacturers worldwide. Harshas constant focus on quality, system and processes has resulted in ISO 14001:2004(E) envroment certification and ISO/TS16949-III certification ,which is the highest certification in auto component manufacturing se 1972 inception of harsha engineers. 1979-developed first cages for taper roller bearing. 1985- developed brass machined cages as an import substitute.

1993-new facility in Changodar,Ahmedabad. introduced State of the art manufacturing facilities for pre-riveted ball bearing cages for the firist time in India. The technical knowhow was sourced from shimizu Seiko of Osaka. ISOme in India. The technical knowhow was sourced from shimizu Seiko of Osaka. ISO 9002 certification received. Tool room established with german &Japanese cnc machines. 1998-harsha establishes a 100% export oriented unit at Moraiya, Ahmedabad with technical knowhow from USA for taper roller beraing cages. 1998-award for outstanding performance from FAG precision bearings. 2000-ltd. For three consecutive years. 2001- AMA-Atlas dyeche outstanding entrepreneur of the year award to managing director, Mr .Rajendra shah. 2002-poyamide cages shop set up in Changodar,Ahmedabad . received best supplier award from Timken India ltd. 2004-ISO/TS 16949:2002 certification received. Implemented ERP system SAP. 2005-taper automation division established at Changodar,Ahmedabad .started production of steel spherical roller bearing cages. 2006-brass machined cages shop established in Moraiya,Ahmedabad. 2007-set up new world class deep groove ball bearing facility at Changodar,India

2008-ISO 14001 enviromental certification accredited backward integration with brass foundry. 2009-six sigma implementation across the organization. 2010-Harsha opens new manufacturing facility in Changodar,India.

1.6 Mission & Vision Statement of organization

Vision

Vision 2010
To build a learing organization With customer focus Ingraining amily values with professionalism, Integrity,lean processes, agility,speed & innovative solutions To Create Value & Competitive prices for the customer Enhancing stakeholder value by achieving Growth rate of more than 30% In the field of Bearing Cages, Automobile Components & Solutions

Mission
To enable Individuals to contribute and make a difference to their work and their communities by fulfilling what is possible for them. To empower Organizations to create new advantages and realize unprecedented futures that honor individual contribution and organizational vision. To create opportunities for individuals and businesses to come together in a commitment to accomplish goals that benefits not only the organizations but also society at large. Stork Prints is a global leading company in the textile and graphics printing market. Providing total system solutions: from

screens, lacquers, inks and digital engraving to a broad range of rotary screen and digital printing systems. Being the expert in electroforming this not only entails highly reliable rotary screen technology but also an extensive program of precision metal products. The group achieved worldwide a turnover of 180 million in 2008. Through continuous innovation and a powerful distribution network Stork Prints adds significant value to its customers processes and products. Core activities Leveraging the electroforming technology rotary screen printing for the bolls and graphics industry offering complementary digital and flexor printing concepts in these markets all from a consumablesdriven market approach Core competences Development and production of screens and the printing systems required for their use in the textile and graphic printing industry. Supply of consumables such as ink and lacquers, services, spare parts and auxiliaries for the textile and graphic printing industry. Production of precision metal products by means of electroforming and photo-etching. HARSHA ENGINEERS is a global solution provider of Bearing cages as well as special purpose stamped components. It is a prefered supplier of different types of Roller and Ball Bearing Cages and cages for Bearing with special applications. Harsha has been a growing organization with significant international presence. Since 1972,

Harsha brings rich experience gained from customer engagements around the world through technology partenerships and strategic alliances. This results in realizing superior value to help industries perform efficiently and profitably. Harsha also believes that innovation and reliable support helps to strengthen customer relationships. Harsha takes pride in its position as a preferred supplier to bearing manufacturers worldwide. Harshas constant focus on quality, systems and processes has resulted in ISO 14001:2004(E) Environmental Certification and ISO/TS16949-III certification, which is the highest certification in Auto component manufacturing sector. Harsha is a learning organisation. Offers you an exiciting array of careers in engineering, design,marketing,logistics,human resources nad general management, opportunities to suit your skills and experience the best. Varoetu. Learning. Teamwork. Growth. Joining Harsha translates into continued opportunities to expand your horizons. There is challenging and interesting work being done here and our ambience ensures that all team members excel in their assigned roles. A culture which values excellence complements a state of the art infrastructure and an enjoyable work environment. Prospective employees are invited to browse through this web site to know more about our company, our products and services and the kind of career path potentially available to you from time to time. Do keep in touch with our web site to find out about new job openings in your area of speciallisation.

Business Description:

Industries Limited is an India-based company. The Company is engaged in textile machinery manufacturing. The products manufactured by the Company include nickel perforated rotary screens and machinery for textile printings. The Company operates in four business segments: screens, industrial machinery, graphics product and chemicals. Its product range includes Rotary Printing Machines for textiles, Rotary Screens and Chemicals for textile printing, and Anilox and Screens for graphic printing. Products Roller bearing cages Typically a roller bearing uses cylindrical spherical or a Needle roller as a rolling element to reduce friction in the bearing.These rollers are well supported by a cage or a retainer. Roller Bearing finds its application in the bearing for construction machinery, gear construction, vehicle manufacture,rolling mills & railway wagons. Harsha has production shops dedicated to different product families. These shops have manual, semi automatic and automatic processes considering the cost effective manufacturability of a product. The facilities are also equipped with sophisticated CNC machines. Harsha is technically competent to offer these cages in different surface finishes such as Vibro finished, shot blasted, Zinc (Zn) or Manganese (Mn) Phosphated as per customer requirements. All these cage facilities are also equipped with state-of-the-art dirt cleaning machines. A sophisticated 3D CNC Coordinate Measuring Machine for measuring product dimensions has also been installed.

Needle Roller Bearing Cages

Needle roller bearing cages have high load bearing capacity and can be differentiated as ready-to-mount, self-contained bearing arrangement components.

Product Range: Material

Steel

OD Range(mm)
20-100

Cylindrical Roller Bearing Cages

Cylindrical Roller Bearing Cages fine application in bearings where the radial load is substantially higher than the axial load. Harsha offers a diversified range of Products which includes cages for Rivet Hole type, Rivet-less type, Traction Motor Bearing and other applications.

Product Range: Material

Steel Brass

OD Range(mm)
upto 650 upto 120

Taper Roller Bearing Cages

Taper Roller Bearing Cages have angles which allow the bearing to handle a combination of radial and thrust loads. Harsha uses manual, semi automatic and automatic processes depending on the volume of the order and tooling complexity to produce cages.

Product Range: Material

Steel

OD Range(mm)
20-650

Spherical Roller Bearing Cages

Spherical Roller Bearing Cages are designed for bearings which can tolerate minor shaft misalignment. They require low maintenance and can handle high radial loads. Harshas product range include both single row and double row type of cages.

Product Range: Material

Steel Brass

OD Range(mm)
upto 650 upto 1200

Deep Groove Ball Bearing Cages

Deep Groove Ball Bearing can withstand high radial as well as axial forces which make them ideal for a wide range of applications.

Product Range: Material

Steel Brass Polyamide

OD Range(mm)
20-300 75-1200 20-100

Angular Contact Ball Bearing Cages

Angular Contact Ball Bearing Cages are designed to support combined radial and thrust loads or heavy thrust loads depending on the contact angle magnitude. High speed machine tool spindles typically use Angular Contact Ball Bearing. Generally cages for these bearing are made of special Brass or Polymide for hub bearings.

Product Range: Material

Brass Polyamide

OD Range(mm)
upto1200 upto100

Markets/clients
Graphics section: Packaging - and label printers and converters Repro houses for the graphics market Industrial/security printers Textile section: Textile printing preparation specialists worldwide (commission engravers) Textile printers and finishers worldwide with in-house engraving facilities

Metal precision section: Electronics industry Automotive Food industry Market position Rotary screen printing for the textile industry: world market leader Flexographic laser engravers: among the top three Digital textile printing: among the top three Rotary screen printing technology in the graphic industry: number two Precision metal products electroforming: world market leader

1.7 Business Philosophy

Ten things we know to be true The perfect search engine, says co founder Larry Page, would understand exactly what you mean and give back exactly what you want. When Google began, you would have been pleasantly surprised to enter a search query and immediately find the right answer. Google became successful precisely because we were better and faster at finding the right answer than other search engines at the time. 1. Focus on the user and all else will follow. Since the beginning, weve focused on providing the best user experience possible. Whether were designing a new Internet browser or a new tweak to the look of the homepage, we take great care to ensure that they will ultimately serve you, rather than our own internal goal or bottom line.

2. Its best to do one thing really, really well. With one of the worlds largest research groups focused exclusively on solving search problems, we know what we do well, and how we could do it better. Through continued iteration on difficult problems, weve been able to solve complex issues and provide continuous improvements to a service that already makes finding information a fast and seamless experience for millions of people 3. Fast is better than slow. We know your time is valuable, so when youre seeking an answer on the web you want it right away and we aim to please. We may be the only people in the world who can say our goal is to have people leave our homepage as quickly as possible. 4. Democracy on the web works. It relies on the millions of individuals posting links on websites to help determine which other sites offer content of value. We assess the importance of every web page using more than 200 signals and a variety of techniques, including our patented PageRank algorithm, which analyzes which sites have been voted to be the best sources of information by other pages across the web. 5. You dont need to be at your desk to need an answer. The world is increasingly mobile: people want access to information wherever they are, whenever they need it. Were pioneering new technologies and offering new solutions for mobile services that help people all over the globe to do any number of tasks on their phone

6. You can make money without doing evil. The revenue we generate is derived from offering search technology to companies and from the sale of advertising displayed on our site and on other sites across the web. Hundreds of thousands of advertisers worldwide use AdWords to promote their products 7. Theres always more information out there. Our engineers turned their attention to information that was not as readily accessible. Sometimes it was just a matter of integrating new databases into search, such as adding a phone number and address lookup and a business directory. 8. The need for information crosses all borders. Our company was founded in California, but our mission is to facilitate access to information for the entire world, and in every language. To that end, we have offices in dozens of countries, maintain more than 150 Internet domains, and serve more than half of our results to people living outside the United States. 9. You can be serious without a suit. Creative things are more likely to happen with the right company culture and that doesnt just mean lava lamps and rubber balls. There is an emphasis on team achievements and pride in individual accomplishments that contribute to our overall success. 10. Great just isnt good enough.

We see being great at something as a starting point, not an endpoint. We set ourselves goals we know we cant reach yet, because we know that by stretching to meet them we can get further than we expected. Through innovation and iteration, we aim to take things that work well and improve upon them in unexpected ways. Managing Change believes in a proactive approach to change By positively seeking and exploiting the opportunities that change brings whilst ensuring that ethics are not compromised. Managing Change advocates participation

By encouraging all stakeholders to participate actively to ensure success. Seeking to make change learning and rewarding experience for all participants. Using personal and organizational development as enablers for change. Conducting assignments in an open and trusting style with respect for the individual.

Business Approach
Managing Change aims for quality and practical results The approach is systematic and thorough, seeking to challenge business practices and aiming to solve problems with realistic and practical solutions. Managing Change works to the IMC professional code of conduct

The 3 basic principles are "meeting the client's requirements", "integrity, independence, and objectivity", and "responsibility to the profession". Detailed project definitions are part of the initial proposal and will contain the following: clear objectives, benefits, scope, deliverables, assumptions, constraints, risks, schedule, resources, roles and responsibilities. Ensuring that any supplier involvement is on an open and agreed basis. Ensuring the confidentiality of clients, customers, suppliers and employees.

1.8 Existing Management group

Chairman :K M Thanawalla Dirk W Joustra Marco Philippus A Wadia Girish C Sharedalal Aschwin N R M Hollander Joost Willem Smits Ashish Kaul Varsha Adhikari

Director

:-

Managing Director Company Secretary

::-

Human resource management

2.1 Details of workers
Founded: 1974 Area (m2): 49,000 No. of employees: 160

Level of workers
In the Stovec industries there are three levels of workers. Lower level and less qualified workers which are come from ITI. Other employees who are more qualified and they are people of mechanical engineer and electrical engineer.

2.2 Scope of Human Resource activities conducted by the organization

Meaning: The scope of HRM is very wide. Specifically includes HR Planning, Job Analysis and Design, Recruitment and Selection, Orientation and Placement, Performance Appraisal and Job Evaluation, etc. Specifically, the activities included are HR planning, job analysis and design, recruitment and selection, orientation and placement, training and development, performance appraisal and job evaluation, employee and executive remuneration, motivation and communication, welfare, safety and health, industrial relations and like. These scopes help the HR to fulfill the societal, organizational, functional and personal objectives of the company.

The main scope of the HR activities at Stovec industries is as follows: a. b. c. d. e. f. Recruitment and selection HR operations Training & Development Employee motivation tools Rewards & Recognition Employee engagement activities

Thus in Stovec industries, there is wide scope for human resource management. An employee of that company can get wider benefits of the good scope of the human resource functions.

2.3 Organization of HR Department

2.4 Human Resource Planning

Meaning: Human Resource Planning is the process of forecasting a firms future demand for, and supply of, the right type of people in the right number. HRP is understood as the process of forecasting an organizations future demand for, and supply of, the right type of people in the right number.HRM department can intiate the recruitment & selection process.HRP is the sub system in the total organization planning . Organization planning include managerial activity that set the companys objective for the future and determine the appropriate means achieve those objective.HRP facilitates the realization of the companys objectives by providing the right type and the right number of personal. In the Stovec industries ltd

2.5 Job Analysis & Job Design

Meaning and definition Job analysis is a systematic exploration of the activities within a job. It is a basic technical procedure one that is used to define duties, responsibilities and accountabilities of a job. Job Design involves conscious efforts to organize tasks, duties and responsibilities into a unit of work to achieve certain objectives. Job Design follows job analysis.

Job analysis is the process of studying and collecting information relating to the operations and responsibilities of a specific job. The immediate products of this analysis are job descriptions and job specification. Job analysis is useful for overall management of all personnel activities. It is Important to specify the uses of job analysis.

2.6 Recruitment & Selection process

Meaning: Recruitment involves attracting and obtaining as many applications as possible from eligible job-seekers. Selection is the process of differentiating between applicants in order to identify and hire those with a greater likelihood of success in a job. Definition:It is the process of differentiating between applicants in order to identify those with a greater likelihood of success in job. SELECTION PROCESS: External Environment Internal Environment Preliminary Interview Selection Test Employment interview Reference and background analysis

1. 2. 3. 4. 5. 6.

7. Selection decision 8. Physical examination 9. Job offers 10. Employment contract At Stovec:The Recruitment process is decentralized at Stovec Ltd. in the sense that each department looks after its needs for people and does the needful to realize its requirements. A budget is allocated for the recruitment process through manpower planning. Recruitment is done through the media of job portals (name of Naukri.com given by the officials) and newspaper advertisement. Even consultants are commissioned for recruitment at senior level position. During the selection process there are two phases of interview for a candidate. The first interview is taken to gauge a persons technical knowledge in the particular field he has applied for and the second interview is taken by the HR department.

2.7 Orientation & Placement ORIENTATION

Meaning: Orientation is a systematic and planned introduction of employees to their jobs, their co-workers and the organization. It is also called induction. Definition: - Orientation is a systematic and planned introduction of employees to their jobs, their co-workers and the organization.

A firm needs to make four strategic choices before designing its orientation programme. They are1. 2. 3. 4. Formal and Informal Individual and Collective Serial and Disjunctive Investiture and Divestiture

The Human Resources Department of stovec structures an appropriate induction programme to orient the new employees to various businesses and services at stovec.

PLACEMENT
Meaning: Placement refers to the allocation of people to jobs. It includes initial assignments of new employees, and promotion, transfer, or demotion of present employees. After an employee has been hired and oriented, he or she must be placed in his or her right job. It is the assignment or reassignment of an employee to a new or different job. Definition: - Placement refers to the allocation of people to jobs. It includes initial assignment of new employees, and promotion, transfer, or demotion of present employees

2.8 Training & Development

Meaning: Training and development is an attempt to improve current or future employee performance by increasing an employees ability to perform through learning, usually by changing the employees attitude or increasing his or her skills and knowledge. Training and Development = Standard performance Actual At Stovec: The training and development function of HR is centralized at Stovec Ltd. A budget is allocated for this function at the starting of the financial year for the complete year. It aims at improving technical, functional, behavioral aspects and soft skills of the organisations employees. A training calendar is prepared at the beginning of the year which dates all the training programs during the year so that the employees are well informed about such programs. Such programs are arranged by TNA (Training Needs Assessment) technique. Workers opinions are also considered while arranging such programs i.e. if they feel a need to be trained in a particular field and the demand is genuine, it is considered by the management. But a maximum of only 2 programs are arranged for training as per workers needs. The need of such programs is also devised through surveys, observations by the supervisors, one-on-one meetings with the employees, discussion with the Head-of-Department, etc. After conducting the programs a detailed analysis, of whether the programs have been useful to the workers and whether there has been a notable change in their efficiency, is done. Such analysis is done through feedback forms, quiz and questionnaires, inquiry with the manager, etc. A proper study of Return on Investment is also done after conducting such programs.

2.9 Performance Appraisal

Definition:Performance appraisal is a formal, structured system of measuring and evaluating an employees job related behaviors and outcomes to discover how and why the employee is presently performing on the job and how the employee can perform more effectively in the future so that the employee, organization, and society all benefit.

At Stovec: Performance appraisal is done for people who are on companys payroll every 6 months. 360 degree performance appraisal technique is used by the organization to make the event extensive.

2.10 Employee & Executive Remuneration

EMPLOYEE REMUNERATION
Meaning: Remuneration is the compensation an employee receives in return for his or her contribution to the organization. Remuneration is the compensation an employee receives in return for his or her contribution to the organization. An average employee in the organization sector is entitled to several benefits - both financial as well as non financial. To be specific, typical remuneration of an employee comprises wages and salary, incentives, fringe benefits, perquisites, and non-monetary benefits.

There are four theories for remuneration: 1. 2. 3. 4. Reinforcement Theory Expectancy Theory Equity Theory Agency Theory

EXECUTIVE REMUNERATION
Executive remuneration has assumed considerable importance in recent years. Deregulation and the consequent entry of MNCs into the country. Specifically, this category includes presidents, vicepresidents, managing directors and general managers. Their remuneration generally comprises five elements. They are: 1. Salary 2. Bonus 3. Commission 4. Long-term incentives 5. perquisites At Stovec: A panel is formed to look after the compensation and benefits of the workers. This panel decides the educational allowances and leave allowances.

2.11 Incentive Payments

Definition:- Incentives are variable rewards granted to employees according to variations in their performance. The other name for incentives is payment by result. But the word incentive is most appropriate because of its motivational content. The advantage of incentives is the inducement and motivation of workers for higher efficiency and greater output. Incentive payments make the employees indulge in conspicuous consumption. At Stovec: Different departments have different incentive plans at Stovec Ltd.

2.12 Employee Benefits & Services

Definition:- Benefits and services are based on critical job factors and performance. Benefits and services, however, are indirect compensation because they are usually extended as a condition of employment and are not directly related to performance. The word fringe is not appreciated by management practitioners on the ground that nowadays benefits and services constitute substantial labour cost for any organisation.

Similarly, the terms benefits and services are often used interchangeably by some writers. At Stovec: Stovec Ltd. has a canteen built for workers. They provide scholarships to their workers children to motivate them to study. The organization distributes uniforms to workers. Various leaves are given to the workers: 13 Paid Leave 16 Sick Leave 10 Casual Leave Such leaves are accumulated and carried forward to the next year if they remain unused.

2.13 Employee Welfare

Definition: Labour welfare is a term which must necessarily be elastic, bearing a somewhat different interpretation in one country from another, according to the different social customs, the degree of industrialization and educational level of the workers.

Mr. Moorthy, in his monumental work on labour welfare, divides welfare measures into two broad groups, namely: 1. Welfare measures inside the work place and 2. Welfare measures outside the work place

At Stovec: Stovec Ltd. regularly organizes get-to-gathers for its workers. Health care and medical facilities are given to the workers 24 hours a day. Safety equipments are given to the workers so that their mental and physical health is affected minimally by the working conditions. Various family related benefits are also given to the workers. Various festivals are celebrated at Stovec Ltd. so that the morale of the employees remains high.

2.14 Safety & Health of Employees

Meaning: Safety refers to the absence of accidents. It refers to the protection of workers from the danger of accidents. Every organization must strive for the safety of its workers. At Stovec: Safety measures generally required in this industry are provided by Stovec Ltd. The organization provides hand gloves to workers for their safety and ear-plugs to those workers who have to be with machinery making high decibel noise for a long time.

2.15 Promotions, Transfers & Separations

Meaning: Promotion results in an improvement in pay, prestige, designation, and responsibilities of an employee within the organization.

Transfer involves a change in the job and the place of job without change in position, pay or responsibilities. Separation means when an employee is no longer with his employer. It can be due to lay-off, resignation, dismissal, retrenchment or voluntary retirement scheme. At Stovec: The employees may be transferred from one department to another based on the requirements of the departments. The attrition rate at Stovec is 10%.

2.16 Industrial Relations

Definition:- Concerned with the systems, rules and procedures used by unions and employers to determine the reward for effort and other conditions of employment, to protect the interests of the employed and their employers, and to regulate the ways in which employers treat their employees. The three popular approaches of IR are as following. HR manager are expected to understand these varying approaches because they provide the theoretical underpinnings for much of the role of HRM. 1. Unitary Approach 2. Pluralistic Approach 3. Marxist Approach

At Stovec: Trade union of textile laborers acts as a link between management and workers. All in all Stovec management has cordial relationship with the trade union and workers.

2.17 Motivation
Definitions: -It is a process that starts with a physiological deficiency or need that activates behaviour or a drive that is aimed at a goal or an incentive. Motivation is the result of processes, internal or external to the individual, that arouse enthusiasm and persistence to pursue a certain course of action.

INDUSTRY STRUCTURE AND DEVELOPMENT

The company is in the business segment of Industrial machinery Products and consumablesfor rotary printing. Product Lines include rotary printing machines for Textiles, Rotaryscreens & chemicals for Textile printing, Anilox rollers and Screens for Graphicprinting. The consumables (Screens) are marketed domestically whereas the machinery products are sold domestically and also exported. The domestic markets are in the West (Surat,Ahmedabad, Mumbai), South (Bangalore, Tirupur, Erode) and in North (Delhi NCR, Amritsar).The international markets are widely spread although we are witnessing improved activityin Latin American markets. The company has market and technology leadership in the segments it operates.

COMPANY PERFORMANCE
Stovec Industries Limited continues to be a leading rotary screen producer in India and reliable partner in business. During the years we have developed extensive applicationknow-how in the rotary screen printing technology. In the context of the current year wehave had a record production and sales of consumables. The company pursues continuousprocess improvements to ensure that all screens comply to best in classstandards of quality confirming to high standards of Environmental health and safety. Wehave continued to demonstrate high customer focus and with our strong localized support weplay an important role in our customer's value chain. The company has demonstrated consistent financial performance and strong cash reserves.Your Company has had a successful year and achieved a PBT of Rs. 97.397 million despiteflat revenues. Improved profitability was driven through margin expansion and improvedproduct mix. During the year the company re-engineered its key business processes andsuccessfully migrated to a new ERP platform.

OUTLOOK & OPPORTUNITIES

The general outlook for the economy in 2010 is expected to improve. Your Company'smanagement team continues to focus on efficient execution of various programs initiatedand also plans to add new product lines from our parent companies portfolio of products.With improvement in the economic situation in the international markets, exports ofmachinery may improve. This should help the company maintain or improve its current marketand financial position.

RISKS AND CONCERNS

The overall economic climate and in particular the health of Textile processingindustry will have direct impact on the company's business plans. The company continues totake suitable steps to minimize these risks and their impact on Companys overall performance.

INTERNAL CONTROL SYSTEM

Adequate internal control procedures are in place across the company. The company hasimplemented a new ERP platform. The internal control mechanisms have been integrated intothis.

HUMAN RESOURCE MANAGEMENT

The company has focused on creating performance based culture within the organizationand Employee training is an important focus area for the company.

FINDINGS
During the visit to Harsha engeneering Ltd. I found out that the HR practices followed by the HR department are at par with the requirements by the organization. The HR department believes in optimum utilization of resources and has very well adopted its belief in the working life of the organization. Earlier 12 people used to work in the HR department but due to rationalization the headcount has decreased to 3. The HR department neither believes in spending extravagantly on HR practices nor cut short on spending an amount required for the implementation. The workers seemed content with their working environment as well as the management.

SUGGESTIONS
Cleanliness should be maintained at the workplace so that the workers enjoy doing their work. More people in the HR department should be appointed so that any grievances of the workers are solved and the activities are smoothly conducted.

CONCLUSIONS
The visit to Harsha engeneering was a great learning experience. I got to know how the HR theories and practices can be fruitfully implemented in real life situations. And a visit to world renowned organisation like Stovec Mills just reaffirmed how right HR practices can lead an organisation to success. With the current HR practices, Stovec can definitely achieve its HR vision: HR Vision Be The Foundation That Integrates Culture, Vision & Values , Creates an Environment That facilitates The Maximization of Human Potential.

REFERENCES

Website:- http://www.Harsha engineers.com

Aswathappa, K. Human Resource and Personal Management Text and Cases. New Delhi: Tata McGraw-Hill Publishing Company Limited, 2005.