Internship Report

JOB REPORTAASK Corporation MBA 7 A

Submitted By:Muhammad Ali Faisal 01-120102-032

Submitted in partial fulfillment of the requirements for the degree of Master in Business Administration

Department of Management SciencesBahria UniversityIslamabad

AcknowledgementI am grateful to Almighty ALLAH the most Beneficent and the most Merciful because of His blessings I was able to complete the report successfully. I am deeply thankful to my organization, AASK Corporation. Special thanks to Mrs. Kishwar Taseem (Director Finance and Admin) for providing the details and support.

Muhammad Ali Faisal01-120102-032MBA-7(A)

Executive SummaryI am working in AASK Corporation since 13 October 2014 as Finance officer, in the department of Finance and Admin. During my job I have learned the skills of administration, management and financial expertises in the practical environment of AASK Corporation. Along with academics and theory, practical knowledge is also very essential which I have gained during my job experience. AASK Group creates new business for its clients and examines the implementation of the assignments and with a determination to provide direction and solutions to the clients in order to make it easy for them to generate their income. AASK Group services are: Consultancy / Service, Construction Works, Maintenance Services, Trading, Manufacturing and Import / Export. The information contained in the report is from my observation and experience during my job, discussion with the staff members. The report consists of detail of AASK Group and Compaines under AASK Group, AASK Corporation, SWOT analysis, PEST analysis, Company analysis, its competitors, my job responsibilities and problems identified by me during my time of job and in the end giving recommendations.

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ContentsAcknowledgementiiExecutive SummaryiiiChapter 1 Introduction11.1 Central Background Information11.2 Various Companies under AASK Group11.2.1 AASK Corporation11.2.2 AASK Traders and Contractors21.2.3 AASK Textiles21.2.4 AASK Foods21.2.5 AASK Welfare Fund21.3AASK Corporation31.4 Vision31.5 Mission31.6 Core Values41.7 Departments at AASK Corporation41.8 AASK Corporation Service Achievements51.9 Projects of AASK Corporation51.9.1 Projects Completed51.9.2 Ongoing Projects5Chapter 2 Company Analysis72.1 Operations Department72.2 Finance and Admin Department82.3 Marketing Department92.4 Human Resources Department9Chapter 3 Environmental Analysis113.1 SWOT Analysis of AASK Corporation113.1.1 Strengths113.1.2 Weakness113.1.3 Opportunities113.1.4 Threats123.2 PEST Analysis of AASK Corporation123.2.1 Political123.2.2 Economical123.2.3 Socio-Cultural123.2.4 Technological123.3 Major Product Lines Market Segments133.4 Competitors Analysis133.4.1 Major Competitors:133.4.2 Competitors Market Share14Figure: 3.4.2143.4.3 Goals143.4.4 Strategies153.5 Technology Analysis153.5.1 Technical Methods that Affect the Industry153.5.2 Innovation16Chapter 4 Brief of Finance and Admin Department164.1 Mission164.2 Finance and Admin Department Policies164.3 Main Functions of Finance and Admin Department174.4 Key Responsibilities of Finance and Admin Department174.5 My Job Contribution174.5.1 Job Responsibilities18Chapter 5 Identification of Main Problems and Findings18Chapter 6 Conclusions and Recommendations19Appendix20

Chapter 1 Introduction

1.1 Central Background InformationAASK Group was established by Engr. Safdar Tasneem (Late). AASK Group generate new business for its clients and keep a check on the implementation of the assignments and with an aspiration to provide with guidance, management, supervision and solutions to the clients in order to make income generation easy for them. Our clients are based throughout Islamabad, Rawalpindi and beyond. Following services are provided by AASK Group: Consultancy / Services:Electrical and Mechanical Construction Works: Electrical, Civil & Mechanical Engineering Maintenance Services:Electrical includes EDS and Overhead where as Mechanical Includes Generators, Elevators, etc Trading: Equipments, Machinery, Food, Textiles and General Items. Manufacturing: Textiles, Electrical Equipment ( Includes DBs, Transformers) Import/Export: Includes eatables, energy drinks etc1.2 Various Companies under AASK Group

Under AASK Group are the following companies:1.2.1 AASK CorporationThe company is registered with Pakistan Engineering Council Islamabad Pakistan and is documented by Pakistan WAPDA and Capital Development Authority Islamabad. At the same time the company is also registered with the Tax Department and Islamabad Chamber of Commerce and Industry. It is working in the fields of consultancy of Electrical Engineering works like Electricity Distribution System Designing & Planning and supervision.1.2.2 AASK Traders and ContractorsAASK Traders and Contractors are registered with Pakistan Engineering Council Islamabad and WAPDA. The company is also registered with the Tax Department. It is working in the fields of construction works in Electrical Engineering and related civil work, Mechanical Fabrication as well as production works. The company is also involved in trading of general items, Textiles & Foods1.2.3 AASK TextilesThis company is registered with Tax Department and Islamabad Chamber of Commerce & Industry. The basic focus of AASK Textile is on women and its Textile Display center is in Islamabad. Stitching of Home Textiles and all kind of other products related to textiles are customized according to clients needs. 1.2.4 AASK FoodsThe department Managing Director is Brig (R) Dr. Ramzan Shahid . The expert areas of AASK Foods are import and export of eatables, natural growing foodstuff items and production, manufacturing of eatables as well as foodstuff. 1.2.5 AASK Welfare FundThis fund is comprises on self financial support for the deserving womens, families or any other justifiable needy individuals for their income generation resources.

1.3 AASK Corporation

AASK Corporation and AASK Traders & Repairs; Contractors are registered with Pakistan Engineering Council Islamabad Pakistan and is also registered by Pakistan WAPDA. AASK Corporations works from the scratch for their clients, from the initial feasibility studies to the final and last step. AASK Engineering provides the cost effectual engineering solutions to get better, advancement, and repair or to maintain the power systems. Hold expertise in designing and extension of consistent, valuable, smooth, safe and sound Electricity Distribution Systems including civil structures. It is working in the fields of consultancy of Electrical Engineering works like Electricity Distribution System Designing & Planning and supervision.Experienced Engineering staff works with clients to understand their needs. The staff provides with solutions according to clients needs, budget, facilities and importantly clients objective.AASK Engineering Consultant has the capability to get the job done on time and on budget.1.4 VisionProvide the mankind with indispensable and productive Services.1.5 MissionTo become the leading concern and lead the future innovatively through: Client Satisfaction Devoted Team Innovation in Technology1.6 Core Values

Reliability & Accountability AASK Corporation take ownership and liability of the work Do as the clients say Our Team is clear, honest and open to listen Determination Our team putt in great efforts for the results and never give up Our team works with commitment Our team works with positive spirit alwaysEfficient Implementation Our team have apparent goals and deliver quantifiable results Put in all the efforts to for perfect implementation1.7 Departments at AASK Corporation Following are the departments at AASK Corporation: Finance and Admin Operations Human Resources Engineering Project Management Marketing1.8 AASK Corporation Service AchievementsSome of the work of ASSK Corporation and its achievements are listed below: Consultancy, Analysis, Assessment and Supervision services requiring Electrical & Civil Engineering knowledge Devise and preparation of plans, specifications and estimates for Civil Structures / Works Impart training to Electrical Engineering Experts Only representatives of Gas Power Generators for DBK Engineering in San Diego, USA1.9 Projects of AASK CorporationAASK Corporation completed and ongoing projects are listed below: 1.9.1 Projects Completed Underground EDS of Islamabad Gardens Phase-II E-11 Islamabad. National Police Foundation Housing Scheme E-11 (existing), Islamabad. Underground EDS of Defense Housing Authority Phase I. Construction and Installation of Underground EDS in respect of Askari-14 Housing Scheme Rawalpindi. Construction/Installation of 11KV structures under IESCO (WAPDA).1.9.2 Ongoing Projects Construction of Overhead EDS Defense Housing Authority Phase I (X-Lawyers Town). Construction and Installation of Overhead/Underground EDS NPF E-11 (Extended Area) Islamabad. Construction and Installation of Overhead/Underground EDS Sector O-9 (Extended Area) Islamabad. Construction and Installation of Underground EDS Commercial Plazas DHA Islamabad Phase-2.

The chapter 2 is about the company analysis of AASK Corporation. The company is analyzed in terms of the operations department, finance and admin department, marketing department and Human resource department.

Chapter 2 Company Analysis

In this chapter AASK Corporations departments roles and duties are analyzed operations department, finance and admin department, marketing department and Human resource department is analyzed.2.1 Operations DepartmentThis department have a number of operations that needed to beperformed starting from minor to major responsibilities. It is the duty of the operations team to take care of the building, its maintenance and arranging all the events and arranging furniture whenever required. The department is also in charge for arranging meetings within the company and also with clients and making sure that everything starting from stationary to water is available as and when required. Mode of communication while dealing with the staff and outsides take places using cell phone and internet as well as intranet for communicating and updating the staff within the organization. The main duties of the department are: Maintenance of the Building Arrangements of events and meetings Maintenance & Arrangements of Furniture Arrangement for special occasion and national festivals. Store and warehouse Office supplies2.2 Finance and Admin DepartmentThe Finance and Admin department of AASK Corporation have structured a team of knowledgeable human resources; qualified in almost all the relevant financial functions. The team comprises Financial Management Experts, Financial Analysts, Cost and Management Accountants to look after every area of accounting and finance function in the company.

The Finance and Admin Department is responsible for managing all the matters related to finance and admin of the company. All the financial activities are in observance with Financial Rules and Regulations. The department plays an important role in the financial decision making. The department intends to provide the internal and external users with financial statements timely with containing exact and appropriate information. Furthermore, it also ensures that the necessary financial control is adhered to in order to safeguard the assets of the organization.The finance department is engaged to look after the following functions: Fixed Assets Corporate accounts Bank reconciliation Regulatory Budgeting Credit and collection Procurement and contracts Payables Reporting and commissions2.3 Marketing DepartmentThe marketing department at AASK Corporation is responsible for the doing market research, searching for clients and bring new and creative ideas for promotions of existing and future services. Main duties are: Develop and execute ideas for promotion Managing the Company website Brand management Market research Sales analysis 2.4 Human Resources DepartmentHuman Resource Department is the important part of the organization. It develops the absolute composition and line of tasks of the organization. The hiring of the employees in the organization is the responsibility of human resource department. The employees are hired according to the job description of the desire department.Human Resource Department organizes the workshops, training sessions and the seminars for the employees. Employees are the actual asset of company and no one wants to lose them, so for this purpose HRM makes the strategies that how they can get work from the employees and announces the incentives for them.Under its main functions which are Recruitment and selection, Organizational Development, Performance Management Compensations and Benefits Project Management, the human resource performs following duties: Payroll information Leave and medical record Policies and procedures Employees record and recreation Training planning Performance management Orientation employee communication Staffing and compensation Staffing plan and HR budgeting Management trainee and internship program Interviewing and selection Compensation, benefits and incentiveNext in chapter 3 discusses the environmental analysis of the AASK Corporation.

Chapter 3 Environmental Analysis

An environmental analysis evaluates internal and external factors affecting an organization's performance. In this chapter SWOT analysis, PEST analysis, major products, competitors are discussed. 3.1 SWOT Analysis of AASK CorporationSWOT analysis is a planned study of organizations internal strengths and weakness and its external threats and opportunities. It helps the company asses its shortcomings and potential points on which the organization can work on, improve and grow further.The strengths, weakness, opportunities and threats are as under: 3.1.1 Strengths AASK is a trusted brand Continuous efforts are putt in to improve its services towards its client Registered with Pakistan Engineering Council , WAPADA and Income Tax Give priority to new talent Strong image of AASK Group and AASK Corporation3.1.2 Weakness Work environment is casual Still new in market as compared to competitors Experienced staff is overlooked at times to new talent3.1.3 Opportunities Can gain more customer by providing more competent services Can also expand to other cities of Pakistan3.1.4 Threats Threat from competitors Instability of security and economic conditions in Pakistan3.2 PEST Analysis of AASK CorporationPEST Analysis is a framework for macro environmental factors which are the political, economical, socio cultural and technological aspects for the company.AASK corporations PEST analysis is as under: 3.2.1 Political Pakistan political circumstances are unstable. Due to these circumstance the project funds are delayed and sometimes they delayed work becomes an abnormal cost for the organization. 3.2.2 EconomicalDue to unstable political situation in Pakistan the economic condition also suffers. Increase in inflation is on high due to which the cost of equipment also raises that result in higher expenses and the government does not raise the rates for contractors which is a loss.3.2.3 Socio-Cultural The private clients mostly focus on the bargain and are concerned for the cost over the quality and after project services, there is an ugly factor of bribes and commissions which leads to unexpected happenings and changes in the contracts.3.2.4 Technological AASK corporations pay special attention to technology aspects. Technology evolves constantly and on a very rapid speed. Continuously new equipment is invented or present ones are upgrade. At AASK corporation latest equipment is present to give its clients desirable results and expert engineering staff. 3.3 Major Product Lines Market SegmentsMajor products of AASK Corporations are as under: Consultancy and Services related to Electrical and Mechanical Engineering work Construction works focusing on Electrical, Civil & Mechanical Engineering Maintenance Services focusing on Electrical includes EDS and Overhead where as Mechanical Includes Generators, Elevators, etc Trading includes Equipments, Machinery, Food, Textiles and General Items. Manufacturing of Textiles, Electrical Equipment ( Includes DBs, Transformers) Import and Export of eatables, energy drinks etc

AASK Corporation market segment covers both private and government clients.3.4 Competitors AnalysisThere are several competitors of AASK Corporation. Among them there are some big names as well in the market.Competitors of AASK Corporations are explained and their market share as under:3.4.1 Major Competitors: Major competitors are: Nespak Burqaab Power Consultancy Powercom AA Consultants Malik Enterprise Izhar Electrical Consultants3.4.2 Competitors Market Share

Figure: 3.4.2 Source: Chief Engineer IESCO. Islamabads Market ShareThe pie diagram clearly shows the market share of all the competitors company as well as AASK Corporation. Clearly AASK Corporations have the largest market share that is 45% in Islamabad. AASK Corporation is focusing to improve its services, technology and overall management to give tough competition to its competitors, which will result in more market share.3.4.3 GoalsAnticipate customer/client needs and continuously intend to serve better, their clients are the satisfied ones and they are committed to provide leadership in their industry and never compromise on the quality and timely delivery of the work, Operational and maintenance services and 24/7 back up support.3.4.4 StrategiesStrong business and regional focus, with the increasing population and increasing demand of the living space in urban areas, construction of housing societies and schemes is on the peak at the moment and AASK corp. have strong business skills, networking and a market repo over the past decades, which provides incentive over regional focus.They have expanded their product line as the demand for the electricity has increased and due to present circumstances and shortfall of electric supply clients demand an alternative or backup.The backup generators are also being provided by AASK and some other solution, such as solar and second line provision. They believe there is an opportunity in every challenge and to be the best in what you do regardless of the price.

3.5 Technology Analysis The work owned by the company is very technical and it requires continuous innovation and efficiency while it completion because of the continuous research and development in this industry.3.5.1 Technical Methods that Affect the IndustryThe methods used in this industry are technical and are broadly used. The basic requirement of the work is mostly safety related as the electric current is fatal. There are some technical methods which could be explained by a technical person through formulas and models which affect the industry but the main things that do effect are the underground wiring and looping3.5.2 Innovation

AASK is committed to provide excellence to its clients and for this purpose ATC is providing onsite training for 132kva underground wiring and it is the only organization in Pakistan to provide such kind of training.Underground looping is a rare service which is being provided only by AASK in twin cities among all its competitors.

Chapter 4 describes the department in which I am doing my job currently as Finance Officer, Finance and Admin department. Chapter 4 Brief of Finance and Admin Department4.1 MissionTo smooth the progress of organization through effective policies related to finance and admin.4.2 Finance and Admin Department PoliciesThe Finance and department plays a very integral responsibility in the decision making process. The department aims to support the management in the policy and in the running of the organization related to financial aspects. The department of Finance and admin is accountable for managing all financial matters of the AASK Corporation. All these activities are in conformity with Financial Rules and Regulations of the company. The department aims to provide the users both internal and external with the financial statements in timely manner with the information which is specific and correct. Moreover, the department also makes sure that the finance does not exceed the limits of the company so that the assets of the company remain intact. 4.3 Main Functions of Finance and Admin DepartmentThe finance and admin department is engaged to look after the following functions: Fixed Assets Regulatory Budgeting and corporate affair Credit and collection and payables Procurement and contracts Reporting and commissions4.4 Key Responsibilities of Finance and Admin Department The main responsibilities performed by Finance department are as under: Maintaining and Planning to company assets Maintain the record of corporate accounts and Collection of credit collection Maintaining bank reconciliation statements Dealing with the financial needs of the company and Making company budgets4.5 My Job ContributionI am working in Finance and admin department of AASK Corporation Islamabad as Finance Officer. During my job at AASK Corporations I worked on the development and implementation of policies and practices for financial management, payroll, budget control, and accounting. 4.5.1 Job Responsibilities My main responsibilities working as a Finance Officer in AASK Corporation are as follows: Prepare monthly financial reports and post journal entries Help with accounts receivable, payable and bank statement reconciliation Assist with audits Making company budget Give support to the payment processing team Give expert analytical advise and help management in work assignments Enter information into the financial accounting system of the companyThe next chapter is chapter 5, it give details of the problem identification and finding during my job experience. Chapter 5 Identification of Main Problems and FindingsDuring my job at AASK Corporation I find out following problems in the organization finance department: At times subordinates are not clear whom to report Casual attitude of employees towards their work when no one is around to monitor them A lot of work burden and multi tasking required by employees Finance and Human resource and Admin department are being monitiored by a single person There is no set of job description All expenses are not being monitored by the department headThe last chapter 6 of this report consists of conclusion and recommendations for the company AASK Corporation.Chapter 6 Conclusions and RecommendationsDuring my job as Finance Officer in AASK Corporations Islamabad, in Finance and Admin department, the above mentioned problems are identified. In order to eradicate or lessen the problems my recommendations are as follows: The subordinates at times are unclear of what they are supposed to do and are required to report to whom, clear guidance should be provided to subordinates Work should be proper and equally assigned and to all employees with proper timeframe Every department should be doing its own work and liaison should prevail Finance department should be given the task to perform financial analysis of the projects. The duties of Human resource should be assigned to someone or the department should be created

Appendix http://www.aaskgroup.com Discussion with Mrs. Kishwar Taseem (Director Finance and Admin) Discussion with Ch Muhammad Ibrahim My own Job Experience