SUBMITTED TO: SIR ZESHAN BHUTTA

COURSE CODE: BUSN-398

NAME: MUHAMMAD QASIM SHEIKH

INDUSTRY: ASIF STEEL WORKS

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Table of Contents

ABOUT THE COMPANY ............................................................................................................. 4

MISSION: ....................................................................................................................................... 4
VISION: .......................................................................................................................................... 5
CERTIFICATIONS ACQUIRED: ................................................................................................. 5
ISO 9001 ..................................................................................................................................... 5
ISO 14001 ................................................................................................................................... 5
ISO 18001 ................................................................................................................................... 5
Integrity ....................................................................................................................................... 5
Diversity...................................................................................................................................... 5
Respect for People ...................................................................................................................... 6
Fairness ....................................................................................................................................... 6
LEARNING OUTCOMES ............................................................................................................. 6
HIERARCHY OF ORGANIZATION ............................................................................................ 7
DEPARTMENTS OF THE ORGANIZATION ............................................................................. 8
DEPARTMENT-REVIEW ............................................................................................................. 9
PROCESS FLOW DIAGRAM ......................................................Error! Bookmark not defined.
FUNCTION OF PRODUCTION PLANT AND CONTROL ........................................................ 9
STRUCTURE OF OPERATIONS DEPARTMENT ................................................................... 10
ROLE AS AN INTERN................................................................................................................ 12
SWOT ANALYSIS ...................................................................................................................... 14
Strengths: .................................................................................................................................. 14
Weaknesses: .............................................................................................................................. 14
Opportunities: ........................................................................................................................... 14
Threats: ..................................................................................................................................... 14
Effluent Treatment Plant ............................................................................................................... 15
Power Plant ................................................................................................................................... 15
ACADEMIC APPLICATIONS DURING THE INTERNSHIP .................................................. 16
CONSUMER MARKET OF PAKISTAN.................................................................................... 17
SKILLS ACQUIRED FROM THE INTERNSHIP ...................................................................... 18
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RECOMEDTION FOR NEXT BATCH ...................................................................................... 19

REFERENCES ............................................................................................................................. 21
APPENDIX ................................................................................................................................... 21
LETTER OF COMPLETION ................................................................................................... 21
EVALUATION PERFORMA .................................................................................................. 21
....................................................................................................Error! Bookmark not defined.
PROJECT ACTIVITY ...............................................................Error! Bookmark not defined.
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ABOUT THE COMPANY

The current sponsors ventured in to the steel scrap business in 1992 under the title of “M. Asif

Iftikhar traders”. MAIT was the big buyer of the scrap from Pakistan Steel Mills Ltd, Karachi in

the year 2004 to 2006. He started off by opening its gates to the public and slowly moved on to

industry only. He opened its doors to the Steel and Metal Industry in 2007 and has grown to

become a young dynamic force in the market place in the name of M. Asif Steel Industries .The

entity then imported Iron and steel products for factory consumption and trading.

With a history of over 11 years of excellence to its credit, M Asif Steel Industries (Pvt) Ltd

(“MASIL”) is one of the leading companies of Pakistan in the iron and steel sector. The Company

was incepted in the early 2007 in the form of a partnership firm with a purpose to uplift

manufacturing of billet, contribute to national economy and ensure industrial growth of the

country.

The Company is involved in multidimensional activities from making billets of Mild Steel, Spring

Steel, in the downstream industry. Over the years M. Asif Steel has emerged as a thriving

progressive steel enterprise due to its ability to transform itself rapidly to meet the challenges of a

highly competitive global economy. Constant modernization, introduction of state-of-the-art

technology and being manned by the highly efficient and dynamic team of employees, has enabled

the Company to stay ahead in the industry and successfully meet the expectations of all customers.

MISSION:

“To meet the expectations of our employees by providing opportunities for professional growth

and personal welfare.”

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VISION:

“Achieve excellence in core business while striving to explore multiple growth opportunities,

remaining ethically and socially responsible.”

CERTIFICATIONS ACQUIRED:
ISO 9001

Quality Management System

ISO 14001

Environmental Management

ISO 18001

Occupational Health & Safety Management Systems

Integrity

We are committed to maintain highest ethical standards and ensure a culture of trust and

openness internally as well as externally.

Diversity

We are an equal opportunity employer with zero bias against gender, race, ethnicity and religion

and encourage openness, expression of opinions etc.

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Respect for People

We are committed to foster a culture where people come first and we hire, develop and retain our

people to work as synergized teams in line with our mission and vision.

Fairness

We are committed to implement such policies and procedures which translate into fair and

equitable treatment of all stakeholders, including selection, hiring, rewarding and compensating

all employees.

LEARNING OUTCOMES

It was a great experience interning at one of the most prestigious company of Pakistan. I

observed Asif traders as a sound company .Its profits are increasing year by year and the staff of

this company is extremely cooperative and hardworking and the employees are innovative and

friendly which further adds to the good reputation of the company and builds customer loyalty.

Asif traders view specialization and service excellence as the cornerstone of its strategy. The

people at the company realize that innovation, creativity, reliability, customized services and

their execution are key ingredients for their future growth. They are aware that they have stepped

into 21st century and they must meet its challenges by acquiring the highest level of technology.

They will thus be accelerating their technological advance to enable them to distribute their

products and services through the most efficient and high technology means. In this internship I

got to learn how different departments of the company work together to facilitate their
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customers. The management of MASIL has taken special measures to safeguard the life and

property of both their employees and customers. The environment of the company is extremely

friendly even a person who enters the place for the first time can notice that the management of

the company is well aware of the impact of working conditions on the efficiency and morale of

the employees. During the time period of the internship I got a chance to closely examine the

departments of such a huge company and learnt to practically implement what I have studied in

academics regarding operations and finance.

HIERARCHY OF ORGANIZATION
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DEPARTMENTS OF THE ORGANIZATION

In Asif steel company (Pvt) Ltd. there are eight departments. These are as under:

1. Administration.

2. Accounts and Finance departments.

3. HR department.

4. MIS department

5. Quality Control department.

6. Audit department.

7. Purchase department.

8. Export department.
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DEPARTMENT-REVIEW
An event happening for a transaction is being happened then the vouchering must be responsible

for the transaction that is a written physical evidence then the voucher must be journalized after

journalize the ledger must be prepared then all the ledger accounts are summarized in the trail

balance from where we can prepare financial statements that can be presented to the management

for further decision making. These were the operation of the accounts department then the function

of the financial department has been started. From the statements given to the finance manager he

has analyze the financial statement calculate the rations to access the trend in the market and then

making decision on these calculated rations.

FUNCTION OF PRODUCTION PLANT AND CONTROL

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STRUCTURE OF OPERATIONS DEPARTMENT

Operations management is a management function; it involves managing people, equipment,

technology, information, and all the other resources needed in the production of goods and

services. Operations management is the central core function of every company. This is true

regardless of the size of the company, the industry it is in, whether it is manufacturing or service,

or is for-profit or not-for-profit.

There are almost 7 employees in the Operations Department.

 Operations Manager

 Assistant Manager

 Risk Manager

 Accounts Manager

 Assistant 1

 Assistant 2

 Consultant

Accounting system of the organization:

The accounts department mainly performs the following functions, maintains, and prepare

following books of accounts:

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1. Supplier ledger

2. General ledger

3. Cashbook

4. Advances to workers

5. Waste stock register

6. Store ledger

7. Journal

8. Stock Register

1. Mobilization of funds:

This company doesn't take heavy cash reserves but take only a few cash for daily

transactions, usually it mobilize the funds by electronic funds transfer.

2. Generation of funds:

This company doesn't believe in raising capital via loan or debt, mostly it raise capital via

equity otherwise it uses retained earnings.

3. Sources of funds:

This company is family owned, so initial capital was provided from personal assets. It also

has the option to take capital via debt but debt arises the risk that’s why the company uses only

equity to raise funds or retained earnings.

4. Allocation of funds:
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The company has very sharp financial managers and management accountants to forecast

the capital expenditure budgets for the next period and then company decides by which Way

Company will has to raise the capital.

5. Protection of Assets:

Company has invested in other ventures by buying their shares and diversified their portfolio to

bear financial shocks, like shares of Sialkot Airport, Greys etc.

6. Financial Evaluation and Consulting:

Financial statements are usually prepared by Accountant Ashraf. But they in case of complexity

external consultants are also hired.

7. Tax Administration:

Tax is filled annually to the FBR. After the tax documentation is done by the employees rebate is

filled as it is an export company.

8. Financial Information System:

Company uses software, financial management system for its accounting entries and

maintenance of data.

ROLE AS AN INTERN

First week of the internship was about introduction to the organization. An orientation about the

organization was arranged in which I not only was made familiar with the office environment but

with the production process carried out at different units of steel production. I visited different
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departments and learned about general administrative structure. I was acquainted with the

organizations policies and code of conduct. I learned about tax filing. I helped the accounts

administrator to do the documentation about the tax of the company and arrange required

documents. In this process I learned about filling different documents regarding different

department. I made payroll for the employees. Research project helped me understand the

problems associated with employees in the organization and also pin point the areas that need

improvement in the department and help improve the learning process. During the internship my

duty was to examine how the workers mainly the operations department operate in this company

and what tasks are these people expected to do and how they were carried out by the workers. I

got an experience to deal with customers and bargain according to the demand of the customer

and the market conditions. All this time I learnt flexibility and good customer service is the key

to business success and growth.

The company had a corporate culture. Corporate culture refers to the shared values, attitudes,

standards, and beliefs that characterize members of an organization and define its nature.

Corporate culture is rooted in an organization’s goals, strategies, structure, and approaches to

labor, customers, investors, and the greater community.

This company's culture was reflected in its dress code, business hours, office setup, employee

benefits, turnover, hiring decisions, and treatment of clients, client satisfaction, and every other

aspect of operations.

I did not dislike anything about the internship or the company but one thing that made me a bit

sad was to see the workers working in the burning heat of sun as well as machines in such a hot

weather just to earn a good living.

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SWOT ANALYSIS

Strengths:

 Reputation of the company

 Excellent client service

 Strong relationship with existing clients

 Good Infrastructure

 Diversified product line

Weaknesses:

 Limited financial capacity

 Few experienced and skill personnel

 Few employee motivation schemes

Opportunities:

 Technical knowhow of the product – pioneers in introducing high quality steel production

technology through joint venture.

 Diversified product range – gives more options to grow business in another line of product

if one product is not performing well

 Strong social compliance towards employees of the company which resulted in less

turnover of employees thus having committed and trained workforce

 Advertising, attending trade fair and launch showroom might be bright prospect

Threats:

 The market is becoming dreadfully competitive

 Continuously increasing VAT and tax on imported goods

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 Changing bank policy into increase foreign reserve

 80% turnover with one customer – in case of any problem with single customer may result

in heavy losses to the company.

Effluent Treatment Plant

MASIL has set up a state of the art Effluent Treatment Plant. This plant will ensure collection,

neutralization and filtration of the entire solvent based wastages generated during the process and

will make them re-usable. The used hydrochloric acid from the strip pickling line is re-generated

so that 98% is re-used and only 2% neutralized is discharged. MASIL reverse osmosis generates

over 100m3/hr of water to meet industrial requirements and does not rely on Karachi’s over

loaded water system.

The investment has helped MASIL:

 Reduce water usage for industrial purposes.

 Reduce industrial waste.

 Improve water availability for local residents by re using industrial water.

Power Plant

MASIL has installed a natural gas burning power plant with 8 generators that creates 25 Mega

Watt of power by co-generation. This plant meets the needs of MASIL steel complex and

supplies surplus electricity to the Grid

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ACADEMIC APPLICATIONS DURING THE INTERNSHIP

I was taught that operations management is the business function responsible for managing the

process of creation of goods and services. It involves planning, organizing, coordinating, and

controlling all the resources needed to produce a company's goods and services. And during I

examined these things closely to the extent that now this definition makes sense to me. I learnt

the true definition of the following terms and practically implemented them while the training

that was given to me during the internship.

In organizations, planning becomes a management process, concerned with defining goals for a

future direction and determining on the missions and resources to achieve those targets. To meet

the goals managers may develop plans such as a business plan or a marketing plan.

Organizing is the establishment of effective authority relationships among selected work, persons

and work places in order for the group to work together efficiently or it is a process of dividing

work into sections and departments.

The essence of management is coordinating all of the different functions. Coordination as it

relates to business is defined as integrating activities to ensure resources of an organization are

used most efficiently to succeed in achieving the set goal.

Controlling is one of the managerial functions like planning, organizing, staffing and

directing. Control in management means setting standards, measuring actual performance and

taking corrective action.

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I witnessed all these functions being carried out in the most effective and efficient way to satisfy

customers’ needs and demands. This is one of the key attributes of Asif steel which contributes

to the company’s success and good reputation in the business world and makes them win over

their competitors.

CONSUMER MARKET OF PAKISTAN

Pakistan has the 26th-largest consumer market of the world by household final consumption

expenditure (249,947 million of US$). The top 10 largest consumer markets are: United States,

European Union, China, Japan, Germany, United Kingdom, India, France, Brazil, Italy.

Pakistani consumer is traditionally price-sensitive owing to their general low income; however

household wealth has been growing steadily in recent years (6.3% between 2016 and 2017)
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SKILLS ACQUIRED FROM THE INTERNSHIP

The knowledge gained and skills acquired through this internship are things that complemented

and enhanced the education I obtained in the classroom. Throughout my internship, I was given

the opportunity to see first-hand what it takes to run a business. I was able to work with the

marketing and promotions team to ensure that every aspect of the business ran smoothly. I had

the huge responsibility of making sure everything was set up timely which was sometimes harder

than I could have imagined. Through this experience, I was able to be fully immersed in what it

means to be an entrepreneur, and was given a realistic picture of everything that it takes to open

a new store.

The iron and steel industry is important because it provides the base for all other industries. The

products from iron and steel industry are used as raw materials for other industries.
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RECOMEDTION FOR NEXT BATCH

One primary skill that I got from this internship is working as a team. Let’s take football as an

example; a team cannot win if the individual performances are good but teamwork is poor.

Similarly, business cannot achieve their goals and targets if the teamwork is missing. My

internship experiences made me realize the importance of teamwork. I had to coordinate with

graphics team, operations team, and managers before posting on social media to gain followers

and increase engagement rate for the business. The social media posts where everybody was on

the same page resulted in better results compared to those where teamwork was not up to

mark. Hence, the experience taught me the importance of teamwork and its impact on

department and companies’ success.

I developed a sense of accomplishment during my internship which enhanced my confidence.

Once I settled into my internships I started to complete tasks, projects and even created social

media campaigns for my business. The completion of these tasks and assignments created a

sense of accomplishment or something that I took pride in. Moreover, when my social media

posts used to get retweets or likes, I used to feel proud of it and it was also appreciated by the

management. The ability to take pride in your work is very important for career growth.

My interpersonal skills were also polished. The ability to communicate effectively is often

related to one’s ability to relate well to others, or “people skills .I learnt, depending on the

industry you may be interacting with clients and vendors as well as your co-workers and

managers. It’s important to be able to build and maintain relationships and be the kind of person

team members want in the office with them every day. Interpersonal skills are also important

because employers seek individuals who can identify the wants and needs of others and who can

recognize and acknowledge the value of differing perspectives.

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I learnt that Time Management is very important. If you’ve managed to successfully take a full

course load every semester and meet assignment deadlines, to some extent, you’ve already

demonstrated time management skills. But as a businessman or an employee you’re not going to

have a syllabus to tell you when your deadlines are. It’s up to you to organize your time and

produce results. Employers want to know that you can prioritize responsibilities and recognize

when it’s appropriate to multitask or focus on one particular project at a time.

I reached to the conclusion that today’s work culture often requires even the most senior level

executives to wear multiple hats You may have an interest in a particular aspect of an industry, a

willingness to become familiar with the different parts of an organization is definitely viewed as

an asset and also increases your exposure within the company.

I will surely recommend people looking for internship opportunities to try doing internship in

this company to get a lifetime experience. As you all know these days almost all students need to

complete internships before moving onwards and upwards in their career path.

Problems of Iron and Steel Industry

Poor demand, price slump, competition from cheaper imports and delays in project execution are

major problems in Pakistan steel industry. Inadequate supply of power and coal, Inefficiency of

public sector units and under- utilization of capacity are other challenging issues.
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REFERENCES

All the information was collected during the internship personally.

APPENDIX

LETTER OF COMPLETION

EVALUATION PERFORMA

LETTER OF ACCEPTANCE
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