Chapter 01 1.

1 Introduction
Cool Industries (Pvt) Ltd established in 1973, is a leading manufacturer of Cooling machines like Deep Freezers, Split Air conditioners, Refrigerators, Washing Machines, Microwaves ovens and Kitchen Appliances. It is headquarter at Hanjarwal Multan Road Lahore. It has its fully automated manufacturing plants at lahore. It has production capacity of 500 Refrigerators 400 Deep freezers and 500 Split AC per day that means refrigerators 182500 per annum, Deep Freezers 14600 per annum and Split AC 182500 per annum in its full swing.It has 17 Sales Points in major cities of pakistan And 154 Contract workshops. It hasnationwide dealership network of 1000 dealers / distributors all over Pakistan and also exporting its product to central Asia including Afghanistan . WAVES Split Air Conditioners and Refrigerators are leading products providing maximum customer satisfaction and is cooling machines improving quality of life of its users. It also opens doors for its dealers and distributors to maximize his wealth by selling or retailing it to the end users. It is approved by the PCSIR Pakistan Council for Scientific and Industrial Research. It is environment friendly as company has been awarded ISO 9000 and ISO 9001. The company is struggling for new inventions through its R & D functions. The new invention of the company is its Cool Bank Refrigerator series. Cool Bank Refrigerators works during load shedding hours that refrigerator works when the light is shut off. The company has also introduced new technology is its split air

conditioners. It has incorporated an oxygen kit in its outdoor unit of the split to provide oxygenated air to the indoor unit of the split. Thus this split can be used for those patients who have asthmatic problem. Hospitals of Pakistan can benefit from these new innovations in Split Air Conditioning and Cool Bank Refrigerator by WAVES. Mr. Pervaiz A. ButtThe Executive Director Cool Industries (Pvt) Ltd. has said that this new invention is introduced to save the precious lives of mankind. Patients can breathe easily and comfortably in its oxygenated fresh and healthy air conditioned environment. Mr. Pervais A. Butt is committed to provide new cooling technologies and inventions to
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people of Pakistan to make their lives healthier and for convenient livings. Mr. Pervais A. Butt has also said while giving an exclusive interview to DIN Channel that he has recently introduced Cool Bank technology in its refrigerators and deep freezers which work during load shedding hours keeping in view the energy crises in Pakistan. This technology is not less than a blessing. Many more inventions are underway or in pipeline for the benefit of mankind and for the improvement of quality of life of the mankind.

Waves company belongs to Coolindustries (Pvt) ltd Registered ISO9001 Waves products can also be imported in middle east countries
It has154 franchise Workshops and 17 sales branches in different major cities of Pakistan. Waves have also having the biggest network of Split Air-conditioner installation and after sales, and a very well qualified staff at their improvements factory for Designing and

1.2 History Established in 1973

Cool Industries (Pvt) Limited, was established in 1973 and grew to a leading Home Appliances manufacturing Company in Pakistan, in a very short span of time. This was achieved by the tireless efforts of our devoted Management, highly motivated professionals and dedicated team work, committed to excel in the quality and services. Cool Industries (Pvt) Limited, has highly skilled professionals, responding rapidly to the market needs. With the most modern and high-tech CAD manufacturing facilities, our products capture over 80% of the local market for Refrigerators, Deep Freezers, Air Conditioners and other home appliances. The company manufactures Refrigerators, Deep Freezers, Air Conditioners, Washing Machines, Microwave Ovens and many other quality home appliances, with the production ratio exceeding the overall production of Pakistan's appliances manufacturers.
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Our brand name Waves is undisputed leader in the market, both in residential and commercial sector in Pakistan. Waves are also exporting its products to Middle East and Central Asian States including Afghanistan.

Our company is known for its commitment to the latest technological advancements in design & manufacture. Owing to the engineering experience and skills available, the identification and adaptation of new techniques, materials and know-how, our production processes and products requires a minimal lead-time. This flexibility in our production has given us distinguished edge over our competitors in the market. We have brought into the market a 100% indigenously designed and manufactured split air conditioning system with different innovations and choices, which has attracted a large customer base.

The company is fully committed to protecting the environment and has been awarded a substantial grant by the World Bank to phase out ODS (Ozone Depleting Substances) its production processes. This is an ongoing activity and is being given all the importance it deserves for a timely and successful competition.

1.3 Mission Statement

To win the utmost satisfaction, trust and loyalty Of our valued customers Aim to serve the needs of our customers and build value for our stakeholders by continuing to remain an efficient and profitable company.

1.4 Vision Statement

To be the market leader in every of our products, nationally and regionally Strive to accomplish the best, which seems unachievable to others, utmost dedication, hard work, enthusiasm in leadership is the modern vision of our management and staff.

1.5 Objectives of Company

To provide customer a prompt quality product and reliable services at their doorstep Repairing of Refrigerator, Repairing of Washing Machine, Microwave oven Waves after sales service is the only service who provide the facility to customers by meeting complaints
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1.6 Company Values

The company is fully committed to protecting the environment and has been awarded a substantial grant by the World Bank to phase out ODS (Ozone Depleting Substances) its production processes. This is an ongoing activity and is being given all the importance it deserves for a timely and successful competition.

1.7 Corporate Responsibility

Cool Industries believes in working with and within local communities to respond to their social needs and help them to improve their quality of life by the use of its cooling machines and to keep environment free from hazards of pollution.

1.8 Structure of Organization

Waves is fully Decentralized hierarchy system prevails in the whole organization.

1.9 Office Location

9 Kilometers, Hanjarwal, Multan Road Lahore Pakistan.

1.10 Number of Total Employees

In seasons 1500, and out seasons are

1300 employees work in the company 1.11 Nature of Business

Productions of Home Appliances

1.12 Type of Owner Ship

Private Limited Company

1.13 Key Players

Board of director and the administrations are the key players for waves cool industrials and know-how, our production processes and products requires a minimal lead-time. This flexibility in our production has given us distinguished edge over our competitors in the market. We have brought into the market a 100% indigenously designed and manufactured split air conditioning system with different innovations and choices, which has attracted a large customer base.

The company is fully committed to protecting the environment and has been awarded a substantial grant by the World Bank to phase out ODS (Ozone Depleting Substances) its production processes. This is an ongoing activity and is being given all the importance it deserves for a timely and successful competition.

1.14 Corporate Information

Chief Executive Officer: Mr. JavedAkhter Butt Executive Director Mr. ParvezAkhter Butt BOARD OF DIRECTORS: Mr. JavedAkhter Butt Mr. ParvezAkhter Butt Mr. Muhammad Nawaz Tishna (NIT) Mr. Faisal EhsanEllahi Mr. Khalid QadeerQureshi (Chief FinancialOfficer) Mr. Muhammad Azam Mr. Rana Muhammad Mushtaq FINANCE DEPARTMENT: Mr.Shehzad Malik (G.M) Mr.UsmanBajwa Mr.BadarRauf Mr.Ashraf Ali Raza Mr.Inam Mr.Mudassar
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Mr.AsadIqbal Mr.MasoodAkhtar Mr.Nawaz Mr.Zulufiqar AUDIT COMMITTEE: Mr. WaseemulHaqueOsmani Chairman Mr. Aftab Ahmed Khan Member HEAD OF INTERNAL AUDIT: Mr.KhalidKabeer CORPORATE DEPARTMENT: Mr. Muhammad Azam Mr.KhalidMahmoodChohan AUDITORS: Riaz Ahmed & Company Chartered Accountants LEGAL ADVISOR: Mr. M. Aurangzeb Khan, Advocate

Registered Offices Head Office

Address: 9 Kilometers, Hanjarwal, Multan Road Landmarks:Hanjarwal, Multan Road City: Lahore Phone +92-42-35415421, 35415422, 35415423, 35415424, 35415425, 35421502, 35421503, 35421504 Fax +92-42-35420442 UAN +92-42-111313233

ShowroomAddress: LAHORE DISPLAY CENTRE:159-Karim Block,

AllamaIqbal Town, Lahore. Landmarks:AllamaIqbal town, Karim Block City: Lahore Phone +92-42-35437092, 35437093, 35437094 Fax +92-42-35436095 UAN +92-42111454647

Branch Office Address:JalalpurJata Road, Behind Ch. ZahoorElahi Stadium,

Saleemi Colony, Gujrat, Pakistan. Landmarks:ChZahoorElahi Stadium, JalalpurJata Road, Saleemi Colony City:Gujrat Phone +92-53-3608538 Fax +92-53-3608538 etc.

1.15 Branch Management

Branch Manager Mr. Malik Muhammad Zulfiqar Sales Manager Mr. Muhammad Usman Sales Accountant Mr. Aamir Usman After Sales Manager Mr. Tabbasum After Sales Accountant Mr. Irfan Technical Supervisor Mr. Wajid

Chapter 02 2.1 COMPANY PROFILE

Cool Industries (Pvt) Ltd. established in 1973, is a leading manufacturer of Home Appliances, including Deep Freezers, Refrigerators, Air conditioners, Vacuum cleaners, Food processors, Washing machines and other wide range of appliances waiting to launch in a market very soon. Our brand name Waves is undisputed leader in the market, both in residential and commercial sector in Pakistan. Waves is also exporting its products to Middle East and Central Asian States including Afghanistan. Our company is known for its commitment to the latest technological advancements in design & manufacture. Owing to the engineering experience and skills available, the identification and adaptation of new techniques, materials and know-how, our production processes and products requires a minimal lead-time. This flexibility in our production has given us distinguished edge over our competitors in the market. We have brought into the market a 100% indigenously designed and manufactured split air conditioning system with different innovations and choices, which has attracted a large customer base. The company is fully committed to protecting the environment and has been awarded a substantial grant by the World Bank to phase out ODS (Ozone Depleting Substances) its production processes. This is an ongoing activity and is being given all the importance it deserves for a timely and successful competition. Waves have introduced complete new range of Digital micro wave ovens equipped with CRS technology, Fashion Color electric Iron, easy & quick toaster, fine & fast blender, twin Tub turbo contract Jet washing machine with Dryer. Its specific design and jet flow system provides extra ordinary cleanliness by using minimum quantity of washing powder. Waves split AC are energy savers and provide strong cooling because of its T4 compressor. Waves have announced One year free Replacement Warranty of complete unit with in one year for its split AC. It is undoubtedly height of confidence

and such an offer is for the first time for any of the air conditioning company in Pakistan. Another sizzling entry is the latest technology curved sliding Glass Door Freezers whose tapered shape provides extra visibility to the products. Though WTO regime is in the offing and national companies all over the world are feeling threat from multinationals. Waves Home Appliances claim affinity with the Homeland more than any of foreign company as it provides easy and efficient after sale services and parts availability throughout Pakistan. Being the pioneer in Refrigeration Technology in Pakistan, we have been manufacturing WAVES Freezers for the last 30 years and fulfilling 90% demand of our country. Holding the ISO 9001 certification, WAVES Freezers are undoubtedly the best Freezers in Pakistan and have the excellent reputation. In fact WAVES Freezer is the one that has almost eliminated the concept of foreign freezers in Pakistan. Employees : Management Worker Total 600 900 1500

Sales Network

17 Sales Branches 17Branches, 154Contract Workshop

After Sales & Service Network

Mobile Service Units in all major cities One Central Office at Karachi & One Regional Office at Lahore Employees Management 600
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Worker Total Warehouse

900 1500 16 warehouses all over the Pakistan

2.2 Waves Companys Products

Water Dispenser2.2.1 Split air conditioners Washing machines Microwave ovensDeep Freezers Caravell Refrigerators Toaster Iron Split Air Conditioner New Wall Mounted Series. Built to the highest international standards. Ensuring maximum efficiency, performance and reliability. Washing Machines With its large number of models Best performance and electric economy with heavy-duty electric motors. Double strike bars for clean, bright and extraordinary washing. Ideal portable washers for large, medium and small families. Maintains its performance even on low voltage. Save time & detergent while brilliant washing Microwave Oven

Defrost Setting. Painted Steel Cavity. Push Button Door. Painted steel cavit

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Water Dispensers

New & easiest way to get hot & cold drinking water with water guard. New striking design. Low energy consumption. Easy to install Attractive low price. Deep Freezers Deep Freezers are categorized into further 3 categorize;

Glass Door Deep Freezers Sliding Door Deep Freezers Single Door Deep Freezers Triplet Deep Freezers Cool Bank
Price In Pakistan : Rs. 29,850 To Rs. 44,300

CARAVELL CARAVELL is an Subsidery of Waves Cool Industries (Pvt) Limited Before the customer returns, Buy Caravell, Expand your Business. According to a professional survey, if Cakes, Pastry, Juice, Tin Food & other Confectionaries are placed in Caravell, it grasps immediate and positive attention of customers. Heart gripping display of placed objects attracts the customers. The real purpose of Caravell is not just to provide decoration to your shop / super store but the true thing is, that if all such confectionaries are placed in room temperature, these will loose taste, smell and freshness. Caravell not only keeps them fresh but maintains their taste, smell and prolongs period of utilization also. Customers buy things with due satisfaction, placed in Caravell. The automatic cooling system of Caravell has been designed in such awaythat it manages the cooling point at that status where things remain in actual
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state. Inner cabinet of Caravell has been manufactured with special metal of aluminum, which protects it completely from being rusted. Caravell is not just a facility but also the most important necessity of modern age because the articles in Caravell are the advertisement by themselves.

2.3 Services
Company is capable to perform following services Repairing of Refrigerator, Repairing of Washing Machine, Microwave oven. Repairing of Internal leak units all kinds. Sturdily analyzing the manufacturing faults. Compressor replacement, gas charging, repairing of kits.

Unit cleaning. 2.4 Corporate Culture

Waves have highly qualified Engineers and technical staff always ready to give you prompt services. Waves corporate culture has been widely recognized by waves employees as innovative value created by waves senior management. Innovation is the core of waves corporate culture, Waves unique cultural system cultivated and developed over the past 7 years. Waves corporate culture is guided and developed by advanced concept, innovative strategy, efficient organization, creative technology and market orientation, which have enabled waves to grow swiftly with business expansion all over Pakistan. Waves corporate culture features recognition and participation of all employees. Today, waves is ambitious to gain worldwide recognition. To achieve this magnificent goal, waves has all its employees involved in realizing their duties toward the company. Waves also manage international trips to their employees as bonus.

2.5 CORPORATE CLIENTS

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PEPSI KN&N,s SEASONS FOOD PAKISTAN NURPUR NESTLE HICO FOODS SHEZAN PAKISTAN DAWN FOODS QUICK FOOD INDUSTRY FOOD MART

2.6 Management Strategy

2.6.1 HRM Waves is one of the leading brand in home appliance industry after Dawlance. It has been competing for the market share by producing the best ever products using the latest technological advancements in design and manufacture. Waves undisputed name is not just by its product quality but its highly skilled workforce as well. As far as its human resource department is concerned, waves has no proper HRM department. Although focuses on the proper hiring of the employees but all this is done under a combined roof of the administration, there is no separate HRM department. Waves to gather the cream of skillful workers focuses its team to be Production efficient Market efficient Its technicians have to be fully aware of the new trends changing in the market. And also the new techniques used by the competitors as well so that waves can at the right time produce a counter for the competition. About this, it however full care of while hiring employees.

2.6.2 Administration
Waves is being administered by a collaborative effort of every department. However the entire administration is under the supervision of a managing director M.D. He in
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fact deals with the entire recruiting process while hiring the employees. Then comes the Admin manager who takes of the payroll system and other benefits of the employees. He uses his own points of views while deciding policies about the reinforcement of the employees.

2.6.3 Decision Making

The decision making at waves cool industries is highly centralized. All the policy formation and strategy formation lies with the top management. They are authorized for the important decision making. The operating authorities are given to the middle management and it is bound to take work from the lower lever workforce. The lower level workforce is only bound for the operations and tasks. However 30-40% of the lower level decision making regarding simple operations can be done by the lower management.

2.6.4 TQM (Total Quality Management):

The policies that waves is using for TQM are that first of all waves has created a quality assurance team This team is responsible for checking every product at required stags of manufacture and at all departments. The techniques they use are Sampling Checking At sampling checking stage the products are checked while being manufactured and it is assured that no product is faulty. Random Checking At random checking stage the products are taken at random for an assurance check to see whether the products are accurately manufactured or not.

2.6.5 Motivation and Incentive Techniques:

Waves provides monetary bonuses to its deserving employees and also annual bonuses. It also gives medical facilities and ration cards to employees in addition to monthly salaries and payrolls. Deserving employees are also given timely promotions to the above positions for their motivation.

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2.7 Hierarchy of Waves Corporations Management In Waves Company The Management Is Comprising of:
Chief Executive Officer (Head) Executive Director Chief Financial Officer Board of Directors General Managers Department Head Managers Zonal Managers Regional Managers Branch Managers Sales Manager Accountants Technical Supervisors

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Marketing Sales After Sales Quality Waves Cool Industries Research and Development Procurement Department
Human Resourse Department

Quality in Product Quality Control Quality System

Finance Accounts Credit Control

Finance Department
Production Department

Source : (made by internee)

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2.8 Departments in Company

2.8.1 Marketing Department FUNCTIONS Waves perform following functions in marketing department This department maintain the record of sales done by branch managers This department make plan to focus the customer needs Make budget for advertisement purpose Make discount offers to attract customers

2.8.2 Main Marketing Strategies and Market Positioning

Cool Industry has its own dedicated marketing and professional teams capable of analyzing the market trends, envisioning the opportunities, meeting the assigned challenges, develop efficient policies and strategies as well as effective promotional plans. Owing to the training provided, the marketing professionals are fully competent to meet targets and capture new markets by adopting ongoing market evaluation techniques. Its main marketing strategy is their concept statement. Is has a very strong concept statement which is Naam he kaafi ha which always deliver a positive sense to customers. They arrange events in Pc in which they invited their loyal as well as regular customers and take feedback. They have wide range of distribution channel. They respond to their customers when there is complaint .they respond within 48 hours after complaint. They are promising a quality product with their customers .All of their raw material comes from abroad They are maintaining third position in the market having share of 45%. We have highly qualified Engineers and technical staff always ready to give you prompt services through all over the country with proudly having Pakistan largest Service network. Seventeen service centers in all major cities and 154 franchise Workshop
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2.9Marketing Mix
The marketing mix is a combination of marketing tools that are used to satisfy customers and company objectives. Consumers often call the marketing mix "the offering." Super Asias marketing mix also depends on these procedures. Your offer is controlled by the following variables often referred to as the four Ps in marketing Product Price Place Promotion Target Market Our target market is basically housewives and middle income families. Marketing 4 P`s: Marketing decisions generally fall into the following four controllable categories: Product The term "product" refers to tangible, physical products as well as services. Cool industry has been providing a large number of products which are mentioned below. Deep freezers: In deep freezers they have introduce TRIPS,,SLIDE DOOR GLASS DOOR & UPRIGHT Refrigerators: They are providing a wide variety of refrigerators like COMBO, ICE MEGICA< DIRECT COOL SERIES. Ovens: In oven series they are providing micro wave ovens with or without grill.

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Air conditioners: In conditioners they have introduced FLIP SERIES.

Washing machines: They have introduce washing machines with jell water fall technology.

Also they have a large product line including toasters, iron, sandwich maker and blenders. Price This is how much you charge for your product or service. Varied pricing could occur according to geography, time frame, or volume. Additionally, with a service, price can be varied according to level of service. Waves has followed product line pricing Where there is a range of product or services the pricing reflect the benefits of parts of the range. Their pricing strategies are also effected by change in any season like as the winter comes the demand of their refrigerators and deep freezers are low. Placement Distribution is about getting the products to the customer. Waves has a network of authorized dealers spread all over Pakistan. To provide customer a prompt, quality and reliable services at their doorstep Waves has a largest after sales service network through out the country. By having seventeen (17) own service centers in all major cities and one hundred and fifty-seven franchised workshops. Waves factory is situated at 9 Kilometers, Hanjarwal, Multan Road Lahore Pakistan they have also braches in 14 cities of Pakistan. Promotion Waves promote its products in a great manner. They organize a general meeting with marketing department after every moth in which they discuss the promotion strategies. They are conducting BTL and ATL advertisements

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2.10 Departments in the Organization 2.10.1 Sales Department:

Sales Branch Manager

Sales Officer

Accountant Sales

Source : (made by Internee) Maintains 75% ~ 80% share of Deep Freezer sold in the market. Increased the sale of refrigerators by 40% ~ 45%. Launch our new products split Air Conditioners, Washing Machines,

Microwave Ovens and other domestic appliances with aggressive advertising support.

Sales Figure
Years 2012 2011 2010 2009 2008 Units Sold (Millions) 1.2 0.9 0.675 0.50625 0.379687 Revenue (Millions) 20400 15300 11375 8606.25 6454.679

The company has shown about 25% increase in sales in the last 5 years

Source : (Waves Branch)

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2.10.2 AFTER SALES DEPARTMENT:

After Sales

After Sales Officer

Accountant After Sales

Technicians

Source : (made by internee)

Resolves 100% customer complaints within 48 hours. Deals Complains on Daily Basis To provide customer a prompt, quality and reliable services at their doorstep Waves has a largest after sales service network through out the country. By having seventeen (17) own service centers in all major cities and one hundred and fifty-seven franchised workshops. To take care of customer appliances all service centers have latest tools, equipments and machineries. After sales service team consist of Engineers and highly qualified staff with great professional approach due to this reason customer feels confident, once their appliance are being maintained. Waves after sales service is the only service who provide the facility to customers by meeting complaints same day on just one phone call. Waves after sale service also provide the facility to customer of lifting their units from residence to service center and delivering within 48 hours. Waves after sales service give services warranty with replacement of one year of Indoor and Outdoor of Split Air-conditioner. We take care of our customers by remaining in contact with them so that they should not face any type of problem. We care our customer.

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We do repair all kind of Refrigerator (Direct cool, No frost etc.). We do repair all kind of freezers (Deep Freezer, Vertical freezers, Triplets etc.). We do repair all kind of Air-conditioner (Wall mounted Split AC, Window AC, Floor standing, Ceiling hanging, Gas fired chillers etc.). We do repair all home appliances and kitchen appliances. We have the best team of Air-conditioning repairing of Pakistan. We have the best team of Air-conditioning repairing of Pakistan. We give the prompt response to our customer and met the complaints on same day exclusively. We have the mobile service centers in all big cities. We have the best and biggest network of services in country with having seventeen own service centers and 154 contract workshops in each towns. We go after our every customer within the warranty period and after the warranty period, we get the feedback from our end users by call them, by visiting them, by off season free checkup scheme. We take the feedback of customer very seriously.

Repairing of Refrigerator, DF & A/C. Repairing of Washing Machine, Microwave oven. Repairing of Internal leak units all kinds. Sturdily analyzing the manufacturing faults. Compressor replacement, gas charging, repairing of PCB kits. Unit cleaning We have highly qualified Engineers and technical staff always ready to give you prompt services through all over the country with Proudly having Pakistan largest Service network. Seventeen service centers in all major cities and 154 franchise Workshops.

We have also having the biggest network of Split Air-conditioner installation and after sales, and a very well qualified staff at our factory for Designing and improvements.

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2.11Overview of Marketing and Sales Department

MARKETING& SALES DEPARTMENT This department is headed MANAGING: SAADAT SHAH Then1 Further down in hierarchy there are: Brand Managers Manager Distribution Credit Customer service officers Institutional sale Manager They are headed by Regional Sales Manager (RSM) The sales policies are recommended by head office for all regions. The policies for customer service are defined by General Manager Customer Service at head office. Targets are given to regional sales Manager of each particular region and then the RSM gives further target and incentives to sales officers to achieve the demand targets. Marketing department controls the 4Ps in the company i.e. Product, Promotion, Placement, and Pricing. They are also responsible for the alteration and Modification in the different brands of the company and of new product e.g. they can suggest color change, size of product etc. which is being demanded by the customers. They try to bring innovations in the products to make them attractive for the customers and to compete with the competitors i.e. Dawlance, General, and PEL etc. There are print as well as electronic media for promotion activities.

2.12QUALITY Department
Cool Industries is heading towards quality documentation and other groundwork is being done to achieve this milestone. Quality in product: Product quality and reliability are the hallmark of all WAVES products manufactured and marketed by Cool Industries (Pvt.) Limited. The company has earned the

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reputation of a professional enterprise engaged in the manufacture of quality products by understanding specific customer needs and obtaining their satisfaction.

2.13 Research and Development Department

The Research and Development in Cool Industries is supported by state-of-the-art environment, with high-tech & fully computerized CNC machines with computer aided design facilities. The continuous updating and advance-training sessions held under Human Resource Development Programs are the key strengths of our Research and Development Department. Research development is very strong in the cool industry. As the company deals in electric appliances so rapid and effective research and development is essential to be fit in the market because there is a tough competition in appliance industry there are many direct and in direct competitors Local and international. So waves is having a very effective and active R&D department. Their different products like ICE MAGICA, COMBO, COOL BANK are the example of their latest research and development. They are also introducing SLIM refrigerator for small families and UPRIGHT DEEP FREEZERS. Which stand vertically and its especially design house wives those who have backache they don`t have to bed to keep things in it. They have also introduced glass door freezers. This is the most important department regarding the future of company as a market leader this department is constantly in-touch with market to know about customer preferences and specification for products. After through analysis of customer expectations this department then gives its recommendations to the top management to being changes in the product for market success. This department conducted to survey in market to get information. This department is also responsible for bringing new technologies in the products. Our report concerns about home appliances sector of PEL. There are three main categories of products. Refrigerator Air Conditioner Deep Freezers Split
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Washing Machines

microwaves oven

2.14 Quality control department:

Cool Industries is heading towards quality documentation and other groundwork is being done to achieve this milestone.

2.15 Quality systems department:

The Company achieved ISO 9001: Certificate by June 2000.

2.16Company quality policy:

We believe in timely provision of cost effective & quality products to achieve complete satisfaction of our valued customers while maintaining our efforts for constant improvement of our quality and services through research and development as per customer need. We are committed to improve our skills in all areas to achieve excel by providing the best working environment and training for the development of our Human Resources.

Quality in service and commitment to our customers

Keeping in mind our over-riding commitment to our valued customers, we pay special attention to the quality of after sales support to dealers, and service to the valued customers. A comprehensive network of over 500 authorized WAVES dealers and service centers are fully geared up to meet all customers needs.

2.17 Procurement Department

Cool industry uses latest technology equipments. They have a proper an efficient procurement department which deals with all purchasing decisions. They have

procured 80% of the raw material from foreign markets. They have also procured parts and moulds local markets also. They have also imported CRC sheet(coal rolled coil). They are also providing full range of their latest product on their service centers. The procurements of WAVES are the stationary, furniture, computer systems, the
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documents and other important things which are essentials for manufacturing and other purposes.

2.19 Human Resourse Department

This department overseas the selection criteria for employees i.e. it sets different guide lines for selection of employees. After selection of employees it also offer the training and to upgrade their skills. The head of HR department is called HR manager.

Functions
Recruitment Selection Training Transfer Firing decisions Labor Affairs Staff welfare M a npo w e r p l a nni n g fo r n ex t 5 ye a rs Waves perform following functions in HR department Hire employees on qualification basis Giving benefit to employees by providing discount on purchasing companies products Giving training to employees for promotion purpose human resource department handle security of company by hiring chief security officer There are in charge time keepers working under HR department HR department provide benefits and compensation to employees by giving them bonuses and pensions to retired employees and also offer golden handshake.

2.20 Finance Department

Waves perform following functions in finance department Maintain the account records of each department This department pay the salaries to employees This department make audit of company internally
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This department also responsible for tax Also responsible of buying and selling on credit basis. The department is controlled by general Manager finance, this department is divided into 3 sections:-

Finance Accounts Credit Control

Finance
Finance deals with Banks

Accounts
Accounts deal with costing system, Billing & booking transactions as well as internal auditing.

Credit Control
This section of finance department deals with Credit and recovery procedures.

2.21 Production Department

This department looks after the manufacturing of products. This department is given targets by top management to produce a specific number of products which are ascertained by previous sales data and market conditions. This department is responsible for quality control as well i.e. it sees there are no defects or any shortcomings in the product. It also overseas new technologies and also remain updated regarding any new machinery or other equipment for better product performance.

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2.21.1 Plant Capacity and Actual Production

Actual Sanctioned Installed Capacity Electric motors Transformers Energy Meters Air conditioners Refrigerators/Deep- Freezers Compressors 25,612 HP 1500 600,000 36,250 89,525 MVA NOS. TONS. CFT Nil 351 431,862 3,494 766,399 Nil MVA NOS TONS CFT Production

360,000 NOS.

Source: (Waves Branch) Production

As highly skilled professionals, With the most modern and high-tech CAD manufacturing facilities, our products capture over 80% of the local market for Refrigerators, Deep Freezers, Air Conditioners and other home appliances. The company manufactures Refrigerators, Deep Freezers, Air Conditioners, Washing Machines, Microwave Ovens and many other quality home appliances, with the production ratio exceeding the overall production of Pakistan's appliances manufacturers. It aims to Reduce Wastage by 2% in Production Sections. Cool Industries (Pvt) Ltd. has highly skilled and professional engineering and technical team coupled with the most advance and state-of-the-art manufacturing facilities. These professional and technical qualities enabled Cool Industries to capture a substantial share of the market. The advance nature of our manufacturing & marketing cycle has led us to develop the most sophisticated and highly effective, material ordering and inventory management system saving cost and cutting financial overheads as well. Waves have introduced complete new range of Digital micro wave ovens equipped with CRS technology, Fashion Color electric Iron, easy & quick toaster, fine & fast
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blender, twin Tub turbo contract Jet washing machine with Dryer. Waves split AC are energy savers and provide strong cooling because of its T4 compressor.

2.22 Activities Performed by Me Dealer Demand Draft Customer Demand Draft Stock Entry/Exit Invoice Making Check Clearance Monthly Expense Sheet Sales Order Demand Draft
Demand Draft is application form which customers and dealers of the company place an order to purchase the products. It is further categorized into 2 types;

Dealer Demand Draft

This order is placed by the registered dealers of the company who make the possibility of the availability of companys products to its end users. Dealer place an order in sales department Sales officer examines the orders quantity Check the products available in stock Response to dealer of quick delivery or delay On delivery date payment received by Cheque mode and goods dispatched

Customer Demand Draft

In this demand draft customer directly purchase from the company no third party like dealers is involved. This draft consist the steps same like dealer demand draft.

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 Stock Entry/Exit Stock entry When products are produced and sent to inventory sales officer made an entry of stock entered. Modified software are used for accounting system. Stock Exit When Products are delivered to dealers/customers sales officer made an entry of stock exit. Modified software is used for accounting system. Invoice Generating When order is accepted and dispatched to Customers/Dealers an evidence of his placed order, quality, quantity and prices of the products till dispatched are generated on a form which is called Invoice and this is sent to Customer/Dealer. Check Clearance The mode of payment used in Waves company is in Cheque mode and when order is dispatched the sales officer made necessary settlement of the Cheque. Monthly Expense Sheet A sheet which is used to record all the Expenses of the company i.e. Fuel expenses, Transportation expenses etc.

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Chapter 03 3.1 Industry analysis Core Competencies Analysis

Core competency is a specific factor that a business sees as being central to the way it, or its employees, works. It fulfills two key criteria It is not easy for competitors to imitate It can be leveraged widely too many products and markets.

3.1.1 Innovation
Unique and compelling solutions valued by our customers and aligned to our brands create competitive advantage.

3.1.2 Operational Excellence (OPEX)

A methodology for solving problems & continuous improvement of products & processes through pursuit, acquisition, and utilization of knowledge using critical thought and planned experimentation helps us achieve operational excellence. By introducing different models and uniqueness in our products we become ahead in market.

3.1.3 Customer Excellence

Excelling the customer expectation from the company, its brands, products and services are a three-step process. The three steps are: Know a customer, be a customer, Serve a customer. Knowing a customer helps us know who our customers are, how to treat them, how we add value, and what the drivers of brand loyalty are. This information is gathered from the customer's data base history. This way we are better able to customize products for them and recommend the right product to solve problems. Being a customer is important to share customer knowledge and insights, drive actions based on customer insights, be passionate about our brands and customer loyalty and provide a positive voice for our brands. We show empathy for customers and seek to
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resolve their problems by creating consistent customer touch-points, showrooms and customer care centers with our endeavor always being to provide unique solutions for the customer. Our products mostly for middle class people because we have economical prices strategy.

3.2 Key Success Factros:

Waves is ahead from its competitors due to its different factors Innovation Waves always introduce new products and designs in markets after a short period of time to differentiate its products from competitors As during load shedding period in Pakistan waves introduces cool bank refrigerator in Pakistan which can work 6 hours in electricity absence. The triplet refrigerator was introduce after that ice magic and many more so these innovation keep waves ahead from competitors . \ Quality Control waves products are checked before dispatching and a quality control team recheck it again randomly after packing. Customer Care Center waves are having different customers care centers, which help its customers to choose appropriate products according to their need and guide people about their products and keep them update about their innovation in products. Service Center waves service centers are located at different locations which give them advantage to keep in touch with their customers problems. Waves are having 17 service centers in all major cities of Pakistan 154 franchise workshops and all over the country with proudly having Pakistan largest Service network.

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High Technology Productions Waves industry is having a research and development department which is always tries to introduce new technological products in markets and they keep up to date with their customers requirement. Waves have also having the biggest network of Split Air-conditioner installation and after sales department.

3.3 Market Share

Cool Industry is having 45% of the market share while PEL is having a 50% of market share and Maintains 75% ~ 80% share of Deep Freezer sold in the market. Increased the sale of refrigerators by 40%~45% If we compared, WAVES with PEL and DAWLANCE which are our direct competitor. The following result comes. Total market size regarding split air conditioner is 400,000 units out of which waves is reaping share of only 50000 which is12.5 % in 2007-2008 far less than 37.5 % previous year 2006-2007 market share. Mr. Zia Ahmed, General Manager Cool Industries (Pvt) Ltd link this downfall with the current energy crisis in Pakistan. The shortfall in sales volume is due to shot fall in power sector in Pakistan. According to him there is demand of 750 MW and current supply is 200 MW people are not interested to purchase split AC as they have no electricity to supplement their comfort of life or either they have to pay high bills of electricity. Further more during recent month there is great recession in world economy and severe price hike in all commodities including split air conditioners of every brand in Pakistan whether manufactured in Pakistan or imported. World economy is badly disturbed which causes or increases gap in exchange rates and inflationary storms in Pakistan economy. Pak Rupee is continuously devalued to the extent of 20 % of its original or base value. Businessmen are struggling for survival amid rising cost of energy and Dollar price. This price hike in split air conditioners is also contributed to the down
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fall in sales volume. That is, frequent price hike in split AC has adversely affected sales volume. Roughly four years ago split AC has become necessities as it came under the reach of the general public due to cost effectiveness but now a days it again falls in the category of luxuries items due to the price hike. There is drastic price change of averagely Rs.15000/- during the years and month.

3.4 Customer Satisfaction

Customers satisfaction could be the main key source of success. Waves provides a large number of diversified products to its customer which satisfied its customer in every manner and also they have online feed back system. They promptly respond toward the customers problem. And their after sale service centers also provides repairing service to the customer in shortest possible time. Waves after sale service also provide the facility to customer of lifting their units from residence to service center and delivering within 48 hours.

3.5 Innovation
Waves also have a huge research and development department which continuously producing many innovative products. As compare with their competitor they have provided many innovative products like cool bank and MAGICA

3.5 After Sale Service Center

By having seventeen (17) own service centers in all major cities and one hundred and fifty-seven franchised workshops. After sales service team consist of Engineers and highly qualified staff with great professional approach due to this reason customer feels confident, once their appliance are being maintained while their competitors have service centers which are not under the direct approach of every customer.

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3.6 Michael Porters Five Forces Model

Potential Development Of Substitute Product

The potential development of substitute products is very high in the market and many companies are working on same business in Pakistan e.g.DWALANCE, PEL, HAIER. But the WAVEShas prevented the threat of substitutes by offering

diversified products like COOL Bank and TRIPLETS and ICE MAGICA.

Potential Entry of New Competitor

High Investment Threat for new entrants is high in this industry, partly due to the fact that this industry is a lucrative industry and is very attractive for foreign companies. But in order to really make a mark in this industry, you need to have strong investment and funding. Foreign Brands Foreign brands like LG, HAIER etc. are a big threat for local brands. The quality and brand image of foreign brands is high as compared to local brands
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Rivalry Among Competing

We can examine the rivalry by different aspects: Market share of any company tells about its strong and weak position in the market, and in refrigerator industry. Dawlance and Waves are close competitors. DAWLANCE is a market leader in refrigerator with 55% share. PEL has 24% market share Waves has 17% market share. 4% shares are others.
To defeat the competitor Waves works on different strategies.

Innovation Waves Company believed on the innovations so Waves has proudly introduced miraculous "Cool Bank Technology Waves Cool Bank technology facilitates not only the consumers but also the country in its need to economize scarce energy resources. The Cool Bank refrigerators and deep freezers consist of double back up system, one stores electricity and other stores cooling. In case of power failure or load shedding, Cool Bank provides internal light and cooling to maintain temperature up to 5 hours. Contrary to Cool Bank, common refrigerators and deep freezers loose their cooling rapidly within 20~30 minutes and food gets spoiled.

Product Range
There are many products of Waves Company like refrigerators, deep freezers, air conditioner, visi cooler, microwave ovens, washing machines and home appliances.

Vertical integration
Waves network of authorized dealers spread all over Pakistan. Waves distribution channel is through the retailers and his outlets.

Bargaining Power of Customer

There are so many products and brands are available in market at different prices and the bargaining power of the customer will be high due to many alternatives products are available in market, the customers preferred to purchase lower price products while the other if there are few brands in the market, then the customers power will be weak position for purchasing due to this the companies raises the prices of products and earn higher profits.

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If we see the Pakistani industries the bargaining power of the customers is very high due to the variety of products are present in the market at different prices. So the customers can choose the products according to his requirements.

Bargaining Power of Supply

Suppliers can be viewed as a threat when they are in few numbers in the market. In that case, the suppliers are able to force up the price of inputs. The after effects of that can result in the reduction in the quality of inputs. If the suppliers of Waves Company are weak then the industry will force the suppliers to reduce the prices of inputs or product and demand for higher quality. If the suppliers are selling the products that have few substitutes and differentiated from others, then the suppliers are always in good bargaining position

3.8 Pestile Analysis Political Analysis

Political conditions of Pakistan have been very unstable for the past decade and are still on the verge of decline. Almost every industry of Pakistan has faced a striking disaster during this period. This situation has given a high rate boost to the already present problems like energy crisis, low living standards of the people, unavailability of basic needs and much more. Waves is working in home appliance industry that highly depends on the energy availability, production fulfillments, trading and transportation facilities etc. for all these issues the present governments policies are very uncertain and unclear. There cant be seen any prominent efforts by the government in resolving the energy crisis issue. This can lead to high production costs for the home appliances industry. However, import and export of such products has very much been encouraged by the government and has encouraged many foreign investors to invest in this industry. But due to unstable security conditions of Pakistan this effort is not being fruitful up to the mark. Many already working foreign companies are trying to move out of Pakistan. One of the basic reasons of this attitude also lies in the fact that the present government has increased duty rates on these products. In 2009, these rates were from 25% to 35% on air conditioners/ refrigerators, electric fans, toasters, micro wave

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ovens; televisions etc while 20% to 30% rates on electric ovens/ cooking ranges. Presently they have been much more increased. This can cause a barrier for the new comers to enter in this industry and a difficulty for the already present companies like waves. Other governments like that of china are also providing manufacturing facilities at low cost. This can reduce manufacturing cost for this industry due to cheaper labor, electricity availability and cheaper manufacturing units. Therefore a political analysis for this industry shows that the political environment is not so favorable for this industry to flourish. The political instability in Pakistan causes trade and import policies to change

which causes many problems in the import of raw material. Tax Policy increase the price of the products.

Economical Analysis
Pakistans economic conditions started to drop in the early 2007 and up to 2010 they have faced a large set back due to the depressed consumer credit market, slow progress of public sector programs, inflation, reduction in subsidies, security threat, instability in the state and energy crisis.. The exports declined by 6% and imports by 10%. The only thing that became a silver lining was the increment in remittances by 22%. Shortages of energy and power do not let the boom enter into the industrial sector so home appliance industry had to suffer. In addition the sanction applied by IMF on different sectors creating a hurdle. This resulted in unemployment and services sector decline. Because of security crisis the graph of investment does not take any surge. The beginning of declining in core inflation is a hopeful factor but the domestic inflation is on peak. The poverty in country rise Pakistan has the highest population growth. The largest population represents a large potential market for goods and services yet the condition are deplorable. All these factors have affected home appliance Sector. The buying powers of people have declined. Due to inflation manufacturing costs have increased. The value of money has decreased so investing in such an industry is not that much favorable economically. Low economic growth rate badly affect the condition of company.

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Due to unstable condition of Pakistan there has not been any marked increase

in customer buying power due to inflation.

Social Analysis
Pakistan is a country where status differentiations are very much in and every status level has its own lifestyle and buying patterns. Mainly the population of Pakistan either belongs to lower class, middle class or elite class. Waves company help NGO`s such as Edhi and Roshni by giving them

donation Health Consciousness about There employs. Population growth rate increased it products demand

Changing Lifestyles Although the lifestyle of every class is changing at a fast pace, still the social factors affecting these lifestyle are same like always. People are more money and time oriented now. They are moving from traditional values towards western lifestyles. Now people prefer living separately than in joint families. As family size has decreased so more and more homes are required for each separate family and hence more are more home appliances are needs in turn. So it overall increases demand for home appliances products and especially for freezing unit industry. Buying Pattern In Pakistan people mostly purchase home appliances at the time of occasion like marriages as dowry item and it has changed the sales patterns. Now the sale for freezing unit is not seasonal but it is sold throughout the year. The availability of different products has also affected the buying patterns Income Differences Home appliance industry is mostly profitable in Pakistan by either the elite class or the middle to some extent. For elite class affording latest home appliances models is never a problem rather it suits their status consciousness. It is also somehow

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convenient for the middle class to afford such luxuries. But in the lower class, home appliance industry cant find much potential customers. Basic Necessity For Life More economic development made it possible that people are considering freezing units as a basic necessity of life, and it overall increases demand for this industry Hot Weather Pakistan is a country where people enjoy all four seasons, but summer stays more than others seasons, and overall climate in summer is very hot. People now purchase more freezing units in summer for their convenience and it also increase in demand. Growth In Population Pakistan is among the top ten most populous countries of the world, increase in population also increase in demand for the products and it also increase demand for freezing unit industry.

Technological Analysis
The technology of this industry has taken a very positive change. Older Refrigerators were used to be manufactured by a type of gas called Freon. Freon is the brand name of the gas. This gas chemically is called chlorofluorocarbon or CFC. This gas was disastrous for the environment and was said to damage the ozone layer if leaks from refrigerators. Today's refrigerator technology is changing day by day. Globalization has made possible to transfer things/products from one country to other within days and this is happening because of fast mode of transportation and communication. Modern refrigerators don't use CFC because CFCs are harmful to the atmosphere if released. Instead they use another type of gas called HFC-134a, also called tetrafluoroethane. HFC turns into a liquid when it is cooled to -15.9 degrees Fahrenheit (-26.6 degrees Celsius). A motor and compressor squeezes the HFC. When it is compressed, it heats up as it is pressurized. When you pass the compressed gas through the coils on the back or
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bottom of a modern refrigerator, the warmer gas can lose its heat to the air in the room. Some appliances includes micro processor based control that allows adaptive defrost Certain parameters are monitored and the control software determines the moment of defrosting. In freezing units, products are made energy efficient keeping the view that People have to buy both refrigerators and deep freezers for capacity purposes. Refrigerator like automatic operation for intelligent operation is a new feature. Vitamin C technology is using for fresh food storage. Slide-out shelf for easy food access is new trend. Machinery for the local plants was imported from abroad. The system is automated and equipment is fully operational and up to dated.

Automatic problem detecting and warming system, door cooling warning system, optimized condensing system. Water dispensers are also attached with new units. Nowadays industry is focusing on low noise operation and low energy consumption products.

Legal Environment
Home appliance industry is particularly looked upon legally when it comes to energy usage, recycling methods and anti dumping. Legally this industry is bound to consume energy and manufacture energy dependent products effectively and efficiently. In a country like Pakistan where there is already energy crisis, a company like waves has to take care by providing its customers with such products that cater this problem it their own way. Moreover recycling methods are also very important. Recently, introducing some environment friendly techniques for refrigerators have helped this industry flourish. Law also forbids dumping in this industry i.e. The export of a product at a price (export price) lowers than the price it normally charges on its own home market (normal value). Dumping can harm the domestic industry by reducing its sales volume and market shares, as well as its sales prices. This in turn can result in decline
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in profitability, job losses and, in the worst case, in the domestic industry going out of business. Therefore it is not allowed.

Environmental Analysis
Environment of Pakistan is although certain and precise but not for business industries. Pakistan enjoys all 4 seasons but primarily summer stays more. Therefore home appliance industry particularly manufacturing freezing units can be very profitable in this environment. However climatic disasters like the earthquake of 2005 and recent flood disaster has turned this environment very unfavorable for this industry. These disasters where on one hand have turned the lives of people towards economic crisis have also damaged many established businesses, created transportation problems, and hence the production costs.

3.9 The BCG Matrix

Stars: Waves refrigerators and freezers have high market share and high growth rate .

Question Mark :

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Washing machine have high growth rate but low market share would be considered as a question mark. Cash Cows: Split air conditioners have low growth rate and high market share would be considered as cash cows. Dogs: Waves Company toasters have low growth rate and low market share would be considered as dogs because there market strategy of seling and advertising is not good

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Chapter 04

COMPETITOR ANALYSIS
4.1 COMPETITIORS 4.1.1DAWLANCE
Vision Make DawlanceA Global Brand By Practicing Reliability: Make Pakistan Proud Of Us Mission Promote Reliability In Everything We Do In The Field Of Household Appliances Dawlance history Dawlance is the Premiere Home Appliances company in Pakistan with 30 years of history. The company began its operation in 1980 with the production of Refrigerators. Today, beside Refrigerators, Dawlance is producing Washing Machines, Chest Freezers, Vertical Freezers, Split AC & Microwave Ovens. Over these years Dawlance has not only developed the largest dealers network but has also established the largest after sales service set-up across Pakistan.

4.1.2 PEL (Pak Elektron Limited) Pak Elektron Limited (PEL) is the pioneer manufacturer of electrical goods in Pakistan. It was established in 1956 in technical collaboration with M/s AEG of Germany. In October 1978, the company was taken over by Saigol Group of Companies. Since its inception, the company has always been contributing towards the advancement and development of the engineering sector in Pakistan by introducing a range of quality electricalequipments and home appliances and by producing hundreds of engineers, skilled workers and 1technicians through its apprenticeship schemes and training programs.

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The company comprises of two divisions: Appliances Division Power Division

PEL Appliances

Refrigerator Air Conditioner Microwave Oven Washing Machine Water Dispense Orient Group of Companies has been on the forefront of design and development, by coming up with new products and increasing its

presence in all its featured markets. Established in Lahore in1957, today the Orient Group of Companies is one of the largest consumer goods companies of Pakistan

4.1.3 ORIENT
Home Appliances Split Air Conditioners Refrigerators Microwave Ovens Water Dispensers Vacuum Cleaners Washing Machines Televisions LED TV LCD TV

Commercial Appliances
Floor Standing Air Conditioners Cassette Type Air Conditioners

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Chapter 05 5.1 SWOT Analysis

5.1.1 STRENGHTS Waves is the national company making electronic appliances for home and commercial use. Due to strong brand name of waves their product has gain a wide consumer acceptance all over Pakistan. Waves manufacture low price and durable product for middle class people, the strength of waves is that they use technology up to the needs of customer . ISO 9001-2000: Strong Security System High quality product Latest mechanized machinery. Tremendous market positioning Highly qualified and skilled management Highly Motivated Workforce Adequate financial resources Competitive advantage Equipped with MISSystem Own power generation plant 5.1.2 WEAKNESS Waves company has also some weaknesses in their products waves company manufacture toasters juicer machines micro oven and sandwich maker also but they only make advertisement on freezers refrigerators and split air conditioners they regret to advertise small products so thats why they cant attract customer to buy these items other weakness of waves is that the visitors room in waves company is near electric power generator which is not good because the noise of generator creates headache For visitors . High cost of production Centralized decision making
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Weak image in the international market Small international market share Less promotional activities Lack of benefits and rewards for the employees 5.1.3 OPPORTUNITIES The biggest opportunity would be considered geographically. Pakistan is situated in an area where we have summer most of time and waves company major focus on manufacturing freezers fridges and split air conditioners so people buy these products in summer season. Waves company has a name in the market and there products has great potential of earning profit. Waves hire young talented people as employees without experience it is the opportunity for young people who freshly complete there studied to join there company.

Organization Can expand product lines Organization Can capture new market segments around the world Organization Can reduce the cost by proper utilization of resources Organization Can hire more well-educated and experienced person 5.1.4 THREATS The major threat to the company`s products is the fierce competition in the local market waves and PEL are one of the biggest names in manufacturing electronic home appliances which distribute their products nationwide .the second threat from new competitors coming in market such as sabro company come and launch split airconditoners in market.

New Entry of competitors Buyer needs demands changes Political instability Changed of government policies Globally Economic instability

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Chapter 06 6.1 Financial Analysis Source (Waves Branch)

Statements income statements, cash flows, balance sheet
All Amounts are in Pak Rupees and in 000

Cost / Expenditure Main

Administrative expenses, Rs. 609,004,

Profits
Profits of 2009 is Rs. 260,546,000

Revenue
In 2009 revenue is Rs14, 621,612

6.2 Ratios
Amounts are in Pak Rupees and in 000 Net working capital = current asset- current liability

8,664,551- 6,553,832 = 2110719

Liquidity ratio:
Net working capital/ total asset 2110719 / 19,070,035 =0.110

EPS (EARNING PER SHARE):

Net income/ shares out standing 260,546/210552 1.23
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ROI (return on investment)

Net income /total investment 260,546/ 21,771 11.96

Turn over rations:

Inventory turnover: CGS/ average inventory 11,283,796/3,258,607 =3.462 Receivable turnover ratio: Sales/ account receivable 11,283,796/12,671 =0.0000789

Asset turnover ratio:

NWC turn over Sales/ NWC 11,283,796/2110719 =5.34 Fixed asset turn over Sales/ net fixed asset 11,283,796/10, 303, 53 =10.951 Total asset turn over Sales/ total asset 11,283,796/19,070,035
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=0.5917

Conclusion & Recommendations

From my findings I have a general interpretation is that most important hurdle involved in the user satisfaction the price and energy crisis, To solve them I give certain suggestions. To find out problem without providing solution is nothing, so here are few suggestions being provided. I found from this research study that only 83% of respondents are completely satisfied with their current Split AC,s and Refrigerators . So the following recommendations should be followed if the company wants to increase its market share. This Split AC and Refrigeratorsshouldbe made more economical that it can become affordable to on-users of Split AC and Refrigerators. Quality and energy saving capability of the product should be improved and highlighted. Availability of the Waves Products should be ensured. T.V advertisements should be more appealing and attractive. Display (without invoice) of Waves Products dummies are given to dealers. Then response collected from them and relative steps should be taken. In order to capture more market share. We should cut avoidable costs of manufacturing to make products economical. To increase the brand loyalty; quality should be further improve. People should be told more about the medical aspect of the Waves split AC with oxygen Kit and Compressors in Refrigerators. Waves is national leading manufacturing company have good quality products And have good organizational management System but having few problems in marketing department .

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The conclusion is that users are satisfied about its energy saving capabilities but there is huge shortage of power in the country presently that was why people do not go for split from any company. All the companies facing severe downfall in sales volume of split AC due to severe shortage of power and escalation in US Dollar so as to WAVES SPLIT AC& REFRIGERATORS.. Therefore the factors account for downfall in Split AC,s and Refrigerators this year is purely due to shortage of energy. These factors could only be mitigated by installation of extra power generation capacity in the country to overcome shortage and economic stability in the country.

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REFERRENCES
http://www.scribd.com/doc/135303407/Company-Profile-Waves http://www.waves.net.pk/profile.aspx http://www.waves.net.pk/ http://www.pel.com.pk/ http://www.orient.com.pk/ www.dawlance

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