MINOR PROJECT REPORT SUBMITTED TOWARDS THE PARTIAL FULFILLMENT OF

BACHELOR OF BUSINESS ADMINISTRATION

MINOR PROJECT REPORT

ON

COMPARATIVE STUDY OF
MANFACTURING AND SERVICES
SECTOR
Batch: 2021-2024

Submitted By: PROJECT GUIDE

Name of student: SOMYA GUPTA Name: DR. ZAINAB
Enrollment No: 6020601721 Designation: Assistant
Professor

Trinity Institute of Professional Studies

Affiliated To Guru Gobind Singh Indraprastha University, New Delhi
 CERTIFICATE

TO WHOM SO EVER IT MAY CONCERN

This is to certify that the project work “company overview and marketing strategies of AUDI”
made by __Somya Gupta, BBA, 6020601721 is an authentic work carried out by his/her under
guidance and supervision of Dr. Zainab.

The project report submitted has been found satisfactory for the partial fullfilment of the degree of
Bachelor of Business Administration.

Project Supervisor

Signature

Name
 ACKNOWLEDGEMENT

It is in particular that I am acknowledging my sincere feeling towards my mentors who graciously gave
me their time and expertise.

They have provided me with the valuable guidance, sustained efforts and friendly approach. It would
have been difficult to achieve the results in such a short span of time without their help.

I deem it my duty to record my gratitude towards the DIVYA GUPTA who devoted his/her precious
time to interact, guide and gave me the right approach to accomplish the task and also helped me to
enhance my knowledge and understanding of the project.

Signature:
Name: Somya Gupta
Enrolment no: 06020601721
Sem & Section: 4th sem section A
 DECLARATION

I hereby declare that the following documented Project report titled “Comparative study of
manufacturing and service sector” is an original and authentic work done by me for the partial
fulfillment of Bachelors of Business Administration degree program.

I hereby certify that all the Endeavour put in the fulfillment of the task are genuine and original to the
best of my knowledge & I have not submitted it earlier elsewhere.

Signature:
Name of Student Course
SOMYA GUPTA
Class & Shift
BBA 1ST SHIFT
EnrolmentNo.
6020601721
 Table of Content

S. NO Particulars Page No.

1. Chapter-1 (Introduction & Literature Review) 1-15 aprrox

 Introduction (Topic)
 History (Topic)
( Theoretical concept about the topic such as
Importance, Functions, Types Roles) etc.

2. Chapter-2 (Research Objectives & Methodology) 15-30 approx

 Research Objective of the study
 Research Methodology
 Research Design
Types of research design
 Data Collection
Sources of data collection(Primary & Secondary)

3. Chapter-3 ( Data Processing, Analysis & Interpretation) 30-45 approx

 Data processing
 Analysis of the problem under study
 Interpretation of the result

4. Findings 46
5. Limitations 47
6. Suggestions & Recommendations 48
7. Conclusion 49
8. Bibliography 50
9. Annexure 51
 CHAPTER 1

INTRODUCTION & LITERATURE REVIEW

 Abstract

Purpose – The purpose of this project is to investigate the differences and similarities between the manufacturing
and services sectors in order to develop a methodology that can provide the opportunity for the transfer of best
practice between the two sectors. This project aims to describe an audit methodology capable of yielding
objective comparisons of supply chain integration performance that can assist practitioners and academics to
transfer learned solutions. Design/methodology/approach – A robust, site-based, multi-method supply chain
diagnostic for detecting manufacturing supply chain system uncertainty was amended for the service sector in
order to yield objective comparisons of the (normalised) supply chain integration performances of 119
organisations. Findings – The research confirms the value of using a lens enabled by the uncertainty circle model
(UCM) for generating meaningful comparative supply chain performances. The research found that services do
not always exhibit unique attributes which effectively bar manufacturing-based supply chain best practice from
being adopted within the service sector. Originality/value – Combining the UCM and Quick Scan Audit
Methodology approach has the potential to assist the spread of proven good practice across both sectors. The
framework provides realistic and repeatable performance vectors, capable of aligning estimates of value stream
health status even when comparing supply chains with differing objectives, configurations, and performance
goals.
 INTRODUCTION

Manufacturing and service are two very important sectors of the economy. They contribute to the
development of economy, infrastructure and the quality of life in a country. Manufacturing, as the name
implies, pertains to production of goods that are used and consumed by the people. On the other hand,
services refer to industries that do not produce goods but provide invaluable services to the people such
as health services, hospitality, aviation, banking, and so on. On the looks of it, manufacturing and
services look poles apart and indeed they are despite having commonalities in HR, their environments,
and the end results they seek. There are many other differences between manufacturing and service
industries that will be talked about in this article.

All consumer products and machinery used in manufacturing of products fall within the manufacturing sector. In
general, it is to be remembered that goods or products that have a value in the marketplace are considered to
have come from manufacturing industries. We can see what is the outcome or output of manufacturing and the
raw materials, machinery, and labour that goes into manufacturing. In manufacturing, there is no direct contact
with the end users of products and the participation of consumers in manufacturing is also minimal, if any.
Standardized technical processes are used in manufacturing, and resources, both material and human, are used in
the production of goods. Manufacturing industry is also characterized by heavy investments of capital, men, and
machinery. In manufacturing, production and productivity are measurable, and the top management is all the
time looking for ways to improve both production and productivity.

Service sector is that important cog in the wheels of an economy that has always been there since time
immemorial. There is no production of goods in service industries, and there are no tangible outputs. There are
only intangible outputs and those are used and consumed very quickly by the customers.

Let us see this by an example. A person, when he catches a disease or meets an accident needs hospitalization,
where doctors use their expertise to treat him after diagnosis. He is given medicines and doctors operate upon
him, to bring relief to his symptoms. Thus, it is clear that no goods are being produced, and the tangible products
like drugs are quickly consumed by the customer. However, the main focus is on the expertise of the doctors
which is integral to the entire treatment procedure. There is a direct contact between the professional and the
customer, and the consumer has active participation in the industry.

Similarly, when a person hires the services of an attorney, he is not getting a product but the consultancy from an
expert that is instrumental in getting a decision from the jury or a court of law in his favour. Manufacturing has
very little contact with the end consumer whereas there is an active and crucial participation of customer in the
service industry. The focus is on technology, machinery, and labour in manufacturing where the focus in service
is on expertise or knowledge of the service provider. There is a tangible output in manufacturing whereas there
is no tangible output in the form of a product in service. There are differences in strategies, planning, core
competencies, technologies, environments, and the welfare measures used in manufacturing and service.
 IMPORTANCE

In addition to increasing globalization, which has been key to rapid growth for many countries, an emerging
debate is which sector, services or manufacturing, could be the main source of growth for developing countries
today. The East Asian middle and high income countries globalized through manufacturing-led activities, having
followed the traditional development path from agriculture through manufacturing and only later to services.
South Asia (particularly India) on the other hand, appears to be eschewing the traditional path by globalizing
through service-led activities. They are also aided by information technology and outsourcing that enable
services to overcome their former constraint as non- tradable activities.
The services sector has been an important source of value added growth and job creation in MENA countries during the
latter half of the 2000s, irrespective of whether the country was an oil exporter or importer. Manufacturing is starting to
make sizable contributions to value added growth in some MENA countries (Jordan, Egypt, Tunisia, Iran and Qatar), but
made an impact on job creation in a few countries only (Algeria and Qatar). In addition to services, the oil sector
(together with electricity, gas and water utilities) was the other major engine of value added growth in 6 of 12 MENA oil
exporters,but the sector’s direct job creation impact was negligible. Nonetheless, the oil sector has enabled the growth of
the non-oil economy through transfers and public investment programs. Agriculture played an important role in value
added and employment growth in one developing oil exporting country only (Algeria). It was important for job growth in
another MENA developing oil exporter (Iraq), and for value added growth in a few MENA oil importing countries
(Morocco, Egypt, Tunisia).

 The growing importance of the service industries

Like primary and secondary sectors, service (tertiary) sector also plays an important role for the
economic development of a country. According to economists like Colin Clark, Simon Kuznets
etc., the development of a country depends on the performance of the service sector.
In a modern economy the share of primary sector towards national income is gradually reducing,
whereas; the shares of secondary and tertiary sectors are improving day by day. In 1950-51, the
contribution of service sector in national income was 34%, which rose up to 48.5% in 2000-01.
Service sector mainly includes transports and communications, banking and insurance, education,
health etc.
Service sector plays a vital role in the development of a modern economy. In fact this sector is so
vital that total performance of an economy depends on the performance of the tertiary sector.

(i) Share in Net National Product:

At present, the service sector contributes the maximum share in country’s net national product at
factor cost (national income). According to 2000-01, 48.5 % share of national income comes
from service sector and moreover, 22.9% of total working population are employed in this sector.

(ii) Helps Industrialisation:

The development of industries is dependent on the performance and improvement of transport,

communication, electricity, banking etc. in a country. Transport system helps to carry raw
materials, finished goods and labourers in their required destination. Communication helps to
widen the market industrial goods. Electricity and banking services help to flourish the industries
in remote areas.
(iii) Expands Agriculture:

Service sector helps to develop the agricultural production by providing better network facilities.
It helps to carry raw materials and finished goods from one place to another.

(iv) Removes Regional Imbalances:

This sector provides a well-organised transport and communication service. It also provides sufficient banking
services along with expansion of education and medical facilities in the backward regions of the country. Thus it
helps to wipe out the problem of regional imbalances and disparities within the country.

(v) Growth of Market:

This sector provides different types of services to both agriculture and industrial sectors. Thu: in other way, it
helps to grow the proper markets for both agricultural and industrial goods finished goods as well as raw
materials or semi-finished goods.

(vi) High Quality of Life:

Better services in the areas of transport and communication, banking and insurance, education and health etc
must help a country to pave the path for economic development by increasing the quality of life or standard of
living within the country. It also helps to improve the value of HDI (Human Development Index) of a country.

(vii) Increase Productivity:

This sector helps the working force by giving sufficient technical education and proper medical facilities.
Moreover, a well-organised network of transport and communication system increases the mobility and
informations among the workers. All these make the labourer more skillful and efficient and thus the
productivity (producing capacity of a labourer) will increase simultaneously.

(viii) Rise in International Trade:

A well-developed service sector, specially transport, communication banking etc., helps to expand the
international trade. Hence, it will also help to increase the foreign exchange reserve within the country.
 The role of manufacturing industries

Manufacturing has traditionally played a key role in the economic growth and development of countries. In
developing countries, the importance of manufacturing has diminished over the last 20-25 years, resulting in de-
industrialization. However industrialization — or increases in the share of manufacturing in Gross Domestic
Product (GDP) — is a key feature of modern economic growth.

Historically, manufacturing has been the backbone of all developed and developing nations. It is where R&D
starts, where new technologies are born, where scientists and engineers and others are challenged to develop new
and better processes, products and technologies.

The manufacturing industry has pioneered historic breakthrough improvements via concepts, tools and
methodologies over the last century.

1. Frederick Taylor’s “SCIENTIFIC MANAGEMENT” of the early 20th century.

2. Gilberth’s “Motion Study” together known as “TIME AND MOTION STUDY”

3. MASS PRODUCTION SYSTEM of Henry Ford which revolutionized the automobile industry

4. STATISTICAL PROCESS CONTROL pioneered by Walter Shewhart and later by Deming and Juran: it
significantly improved process quality during World War (WW) I and II

5. Dr. EDWARD DEMING’S 14 POINTS: helped Japanese industry to rise from the ruins of WW II

6. TOYOTA PRODUCTION SYSTEM (TPS) or “JUST IN TIME PRODUCTION” created by Eiji Toyoda
with help from people like Taiichi Ohno and Shigeo Shingo that helped Japan (post WW II) to become the
cheapest and most fuel efficient manufacturer of cars

7. TOTAL PRODUCTIVE MAINTENANCE to reduce losses in manufacturing by Tokutaro Suzuki that helped
improve performance of chemical industry

8. SIX-SIGMA at Motorola by Bill Smith to improve defects and improve process capability later made famous
by Jack Welch at GE

9. THEORY OF CONSTRAINTS (ToC) by Goldratt to improve throughput and reduce operating costs and
inventory

10. LEAN by James Womack & Daniel Jones who brought TPS from Japan to the western world
 As we know, all these concepts which originated in manufacturing are now used across various industrial
sectors like IT,Services, Hospitality, Logistics, Government and Armed Forces. This underlines the contribution
and importance of manufacturing to industry as a whole.

FUNCTIONS

MANUFACTURING OPERATIONS

The term "manufacturing operations" refers to a framework in which man, machine and material come together
to produce a tangible product. It deals with all the supply chain activities such as gathering requirements from
customers, procuring raw materials, allocating resources, scheduling the production, maintaining the inventory,
and delivering end products to customers.

Manufacturing operations are classified into process manufacturing and discrete manufacturing. Process
manufacturing is an operational method that produces goods by following a specified sequence of steps or a
predefined formula. Discrete manufacturing emphasizes producing individual finished goods that are distinct
from one another. While pharmaceutical and food and beverage industries adopt the process manufacturing
method, automobiles and smartphone manufacturers adopt a discrete manufacturing method.

Operations Management in Manufacturing sector:

Like PowerSki, all manufacturers set out to perform the same basic function: to transform resources into finished
goods. To perform this function in today’s business environment, manufacturers must continually strive to
improve operational efficiency. They must fine-tune their production processes to focus on quality, to hold down
the costs of materials and labor, and to eliminate all costs that add no value to the finished product. Making the
decisions involved in the effort to attain these goals is the job of the operations manager. That person’s
responsibilities can be grouped as follows:

Production planning. During production planning, managers determine how goods will be produced, where
production will take place, and how manufacturing facilities will be laid out.

Production control. Once the production process is under way, managers must continually schedule and monitor
the activities that make up that process. They must solicit and respond to feedback and make adjustments where
needed. At this stage, they also oversee the purchasing of raw materials and the handling of inventories.

Operation process in Manufacturing sector:

The decisions made in the planning stage have long-range implications and are crucial to a firm’s success.
Before making decisions about the operations process, managers must consider the goals set by marketing
managers. Does the company intend to be a low-cost producer and to compete on the basis of price? Or does it
plan to focus on quality and go after the high end of the market? Perhaps it wants to build a reputation for
reliability. What if it intends to offer a wide range of products? To make things even more complicated, all these
decisions involve trade-offs. Upholding a reputation for reliability isn’t necessarily compatible with offering a
wide range of products. Low cost doesn’t normally go hand in hand with high quality.

SERVICES OPERATION

Services are intangible and non-physical products offered by one party to another in exchange for money. As
reported in the Harvard Business Review , service-providing operations aim to deliver an experience that leads
to customer satisfaction. Service operations engage a wide range of teams to deliver services, including
professional service teams, customer support teams and customer experience teams. Organizations that engage
in hospitality, travel, media, sports, health care and entertainment are service-providing organizations. Service-
providing operations send employees to their customers' locations or meet the customers at the company's
premises to facilitate the service provision.

The important components of service-providing operations are labor, service model and service environment.
Labor could be a skilled workforce or semi-skilled workforce that directly engages with customers to provide
services. The service model is the approach that the organization adopts to deliver intangible value to
customers. SAAS (Software-As-A-Service) is a perfect example of a service operations model adopted by
software firms. A restaurant drive-in option is another service operations model that lets customers remain in
parked vehicles while they eat. Service environment refers to the ambiance of the premises where the service
provision takes place.

Operations Management in service sector:

When starting or expanding operations, businesses in the service sector must make a number of decisions quite
similar to those made by manufacturers:

What services (and perhaps what goods) should they offer?

How will they provide these services?

Where will they locate their business, and what will their facilities look like?

How will they forecast demand for their services?

Operations process in Manufacturing sector:

Service organizations succeed by providing services that satisfy customers’ needs. Companies that provide transportation, such
as airlines, have to get customers to their destinations as quickly and safely as possible. Companies that deliver packages, such as
FedEx, must pick up, sort, and deliver packages in a timely manner. Colleges must provide quality educations. Companies that
provide both services and goods, such as Domino’s Pizza, have a dual challenge: they must produce a quality good and deliver it
satisfactorily.

Service providers that produce goods can, like manufacturers, adopt either a make-to-order or a make-to-stock approach to
manufacturing them. BK, which encourages patrons to customize burgers and other menu items, uses a make-to-order approach.
BK can customize products because it builds sandwiches one at a time rather than batch-process them. Meat patties, for example,
go from the grill to a steamer for holding until an order comes in. Then the patty is pulled from the steamer and requested
condiments are added. Finally, the completed sandwich chutes to a counter worker, who gives it to the customer. In contrast,
many of BK’s competitors, including McDonald’s, rely on a make-to-stock approach in which a number of sandwiches are made
at the same time with the same condiments. If a customer wants, say, a hamburger without onions, he or she has to wait for a new
batch of patties to be grilled. The procedure could take up to five minutes, whereas BK can process a special order in thirty
seconds.
 TYPES OF MANUFACTURING INDUSTRIES

Clothing and Textiles

Companies that process raw wool, cotton and flax to make cloth are categorized under the
clothing and textiles sector. This also applies to using wool and cloth to make clothes, outerwear,
upholstery fabrics and bedding. The output of seamstresses and tailors belongs to the clothing and
textile sector. Synthetics such as polyester fall under chemical manufacturing. The material, not
the product, is at the center of defining this sector.

Petroleum, Chemicals and Plastics

The process of turning chemicals, coal and crude oil into usable products, along with the making of soaps,
resins, paints and pesticides and medicines belong to this sector of manufacturing. But rubber manufacturing is
considered a part of plastic work. This sector of industry also includes the use of crude oil to make certain
plastics, as well as gasoline and other chemicals.
 Electronics, Computers and Transportation

Though these fields are closely related, they are usually treated as different sectors of manufacturing. Most of
the products in this manufacturing sector use electric power, and all require a power source. Within this sector,
you'll find all appliances and microprocessors, semi-conductors, chips and all audio-visual equipment. The
transportation sector is self-defining, as it contains all automobiles, trains and planes that do not fall under other
sectors, such as metalwork or chemical manufacturing.

Metal Manufacturing

Along with oil and chemical manufacturing, metals belong to heavy industry, while the remaining
sectors are generally considered as light industry or consumer-oriented industry. The production of
metals includes all forms of iron, aluminum and steel manufacturing, as well as forging, engraving,
coating and stamping.
Wood, Leather and Paper

Wood production includes all forms of manufacturing floors or housing, as well as sawing and
laminating. Under leather industries, you'll find all tanning and curing, but the creation of leather clothes
falls belongs to clothing and textiles. The paper production process is typified by the cleansing of raw
wood pulp into paper products of various kinds.
 TYPE OF SERVICE INDUSTRY
There are three main types of industries related to services which people commonly utilize. The service industry
types include consumer services, business services, and public services. The following sections will define the
similarities and differences of each of these industry types and provide an explanation of their unique and
important functions within an economy.

CONSUMER SERVICES
Of the three service industry types, consumer services are the most apparent to the average client. They are a
variety of services that are rendered by the field that creates, markets, or provides the product to the consumer.
Note that none of these services are tangible. Common examples of consumer services include barbers providing
haircuts, mechanics and car dealerships providing regularly scheduled services on automobiles, and support
technicians who provide help in correcting automated errors with products such as computers and the internet.
Consumer services became more popular and more recognized when the division of labour became more
commonly used. Companies choose to allocate certain tasks to certain people with specific knowledge and
skillsets in an effort to maximize efficiency and productivity. As a result, more services can be provided by a
larger number of individuals, thus stimulating the economy. For instance, a homeowner may utilize the services
of exterminators, contractors, painters, and landscapers to keep their homes in the best shape.

BUSINESS SERVICES

Business services refer to the services required to support the operations within a business. Similar to consumer
services, business services are not tangible. However, business services support the manufacture of tangible
products and other services. Business services are conducted in the background and away from the consumer in
most cases, unlike consumer services. Examples of business services include:

 Marketing
 Legal services
 Leasing
 Staffing
 Security
 Logistics

Business services are essential to the processes of any company, especially in the modern age of automation. In a
way, they are the gears that keep a business moving smoothly. For instance, few computer-based systems could
run without IT professionals ensuring their constant uptime and processing capabilities. Without these resources,
manufactured goods could not be produced as efficiently. Similarly, professionals who specialize in streamlining
manufacturing processes provide a vital business service that increases the overall production of a manufacturer.
 PUBLIC SERVICES

The State is the largest or the single most important employer in almost all countries. The public service
personnel comprise persons employed by public authorities at central, regional and local levels and include both
civil servants and public employees. Public authorities must provide high-quality services to their citizens and
decent work for their workers. The optimal way to achieve sustainable national development and poverty
alleviation is to promote good governance and transparency through effective social dialogue in the public
service. The current economic crisis has affected governments and their workers in several ways, and the ILO
has developed tools to assist governments in addressing these issues.

The Freedom of Association and Protection of the Right to Organise Convention, 1948 (No. 87) , the Right to
Organise and Collective Bargaining Convention, 1949 (No. 98) , and the Labour Relations (Public Service)
Convention, 1978 (No. 151) guarantee government workers the rights to organize and bargain
collectively. Convention No. 151 also establishes that disputes related to the determination of the terms and
conditions of employment should be resolved through negotiations or through impartial and independent
machinery. National laws or regulations may determine how the guarantees provided for in Convention 98 apply
to the armed forces and the police, and may also exclude high-level government employees whose functions are
normally considered as policy-making or managerial, or employees whose duties are of a highly confidential
nature, from the protection of Convention 151.
 CHAPTER 2
RESEARCH OBJECTIVE &
METHODOLGY
2.1 RESEARCH OBJESCTIVE OF THE STUDY

a) PRIMARY OBJECTIVE
1. The objective of this research is to investigate the differences and similarities between the
manufacturing and services sectors in order to develop a methodology that can provide the
opportunity for the transfer of best practice between the two sectors.
2. This project aims to describe an audit methodology capable of yielding objective
comparisons of both the sector that can assist practitioners and academics to transfer learned
solutions.
3. This study investigates the effect of customer orientation on innovation performance in
manufacturing and service firms by comparing their innovation mechanisms.

b) SECONDARY OBJECTIVE
1. Analyses how theoretical concept taught and rather applied or not in real situations.
2. Enhance analytical application ability.
3. Develop skills in technical reports, writing through data collection, data analysis, data
interpretation & presentation and draw conclusion of a given topic.

2.2 RESEARCH OF METHODOLGY

Methodology is the systematic, theoretical analysis of the methods applied to a field of study. It
comprises the theoretical analysis of the body of methods and principles associated with a branch of
knowledge. Typically, it encompasses concepts such as paradigm, theoretical modal, phases and
quantitative techniques.

A methodology does not set out to provide solution- it is, therefore, not the same thing as a method.
Instead, it offers the theoretical underpinning for understanding which method, set of method or so
called best practices can be applied to specific case, for example, to calculate specific result.

It has been defined as follow:

a) The analysis of the principles of methods, rules, and postulates employed by a
discipline.
b) The systematic study of method that are, can be, or have been applied
within a discipline.
c) The study or description of method.
2.3 RESEARCH DESIGN

The research design refers to the overall strategy that you choose to integrate the different components of
the study in a coherent and logical way, thereby, ensuring you will effectively address the research
problem; it constitutes the blueprint for the collection, measurement, and analysis of data. Note that the
research problem determines the type of design you should use, not the other way around!

Research design refers to the overall strategy utilized to carry out research that defines a succinct and
logical plan to tackle established research question(s) through the collection, interpretation, analysis, and
discussion of data.

Types of Research Design

There are many ways to classify research designs. Nonetheless, the list below offers a number of useful
distinctions between possible research designs. A research design is an arrangement of conditions or
collection.

Descriptive (e.g., case-study, naturalistic observation, survey)

Correlational (e.g., case-control study, observational study)

Experimental (e.g., field experiment, controlled experiment, quasi-experiment)

Review (literature review, systematic review)

Meta-analytic (meta-analysis)
2.4 DATA COLLECTION

Data collection is the procedure of collecting, measuring and analyzing accurate insights for research
using standard validated techniques. A researcher can evaluate their hypothesis on the basis of collected
data. In most cases, data collection is the primary and most important step for research, irrespective of the
field of research. The approach of data collection is different for different fields of study, depending on
the required information. The most critical objective of data collection is ensuring that information-rich
and reliable data is collected for statistical analysis so that data-driven decisions can be made for research.

2.4.1 SOURSES OF DATA COLLECTION

a) PRIMARY DATA

Primary data is a type of data that is collected by researchers directly from main sources
through interviews, surveys, experiments, etc. Primary data are usually collected from the
source—where the data originally originates from and are regarded as the best kind of data in
research.

The sources of primary data are usually chosen and tailored specifically to meet the demands
or requirements of particular research. Also, before choosing a data collection source, things
like the aim of the research and target population need to be identified.

For example, when doing a market survey, the goal of the survey and the sample population
need to be identified first. This is what will determine what data collection source will be
most suitable—an offline survey will be more suitable for a population living in remote areas
without an internet connection compared to online surveys.

Primary Data Collection Methods

Primary data collection methods are different ways in which primary data can be collected. It explains the tools
used in collecting primary data, some of which are highlighted below:

1. Interviews

2. Surveys & Questionnaires

3. Observations

4. Focus groups
 5. Experiments

Secondary data is research data that has previously been gathered and can be accessed
by researchers. The term contrasts with primary data, which is data collected directly from
its source.

Secondary data is used to increase the sampling size of research studies and is also
chosen for the efficiency and speed that comes with using an already existing resource.
Secondary data facilitates large research projects, in which many research groups working
in tandem collect secondary data. The main researcher is then allowed to focus on primary
research or particular areas of interest. This division of labor helps researchers learn more
in less time.

Common sources of existing secondary data include data collected by government public
services departments, libraries, internet searches and censuses, such as the United States
Census. Companies use market research to draw on existing information from social
media as a source of secondary data. Social media is becoming heavily favored in market
research, as opinions are already available from millions of users on many topics and
products.

The benefit of using secondary data is that much of the preliminary work is done. The data
may have already been sorted in an electronic format, published and reviewed with case
studies already conducted. Secondary data can quickly become more or less public
knowledge through use in the media. Due to its exposure and public examination,
secondary data can carry more legitimacy than primary research data and is often used as
verification of primary data.

However, there are a number of potential problems in using secondary data. It can be
difficult to attain secondary data that the fits exact requirements of research studies. It can
also be hard to verify the accuracy of secondary data, which can also become outdated
over time.
Manufacturing value added (annual % growth)
FINDINGS
 LIMITATIONS

 The study is confined only to a small segment of the topic because of time constraints and hence
the results are applicable only to both of the sector.

 The scope of the projects is limited to only specific sector of the sector not to overall analysis of
the sectors.

 It is not always possible to evaluate companies under similar parameters since many industries
deal with various businesses thus clubbing all the companies on the same parameters is not
always possible.