Internship Report on Q-Mart

INTERNSHIP REPORT

Q -Mart Corporation (Pvt) Limited ( Subsidiary of Kohinoor Mills)

Submitted to

Mr. Zahid Ali Internship Incharge Commerce Department

Submitted byMirza Muhammad Zaigham

M.Sc. Accounting and Finance (4th)Session 2009-2011

Table of contents

Internship Repot On Q-Mart Corporation (Pvt) Ltd. (Subsidiary Of Kohinoor Mills)

Sr. no. Particulars Page no.

Acknowledgement

1. Introduction To Retail

1.1 Inception Of Retail 5

1.2 History of Retailing 6

1.3 Retail Scenario in Pakistan 7

2. Introduction To The Company 11

2.1 Objectives of studying the organization 11

2.2 Overview of the organization 12

2.3 Overview of the Kohinoor mills(Parent) 12

2.4 Company Information 14

2.5 Brief History & Nature Of Q-Mart 29

2.6 Current Status 21

2.7 Product Of the Q-Mart 21

3. Organizational Structure 22

3.1 Introduction Of Organizational Chart 23

3.2 Benefits Of organizational Chart 23

Islamia University of Bahawalpur 2


3.3 Organizational Hierarchy 23

3.4 Accounts & Finance Department Hierarchy 24

3.5 Retail department Hierarchy 25

3.6 Analysis on the Organizational Charts 26

3.7 Primary & Secondary Activities 27

3.8 Main Offices 27

4. Brief Overview of the Q-Mart’s Department 27

4.1 Information Technology department 28

4.2 Retail Department 29

4.3 Human Resources Department 29

4.4 Accounts & Finance department 30

4.5 Standard Operating Procedures (SOP) 32

4.6 System & Procedures Of Accounts Department 36

5. Analysis of the Q-Mart 40

5.1 PEST Analysis 40

5.2 SWOT Analysis 44

5.3 5Forces Model

47



5.4 Horizontal Analysis Income Statements 50

5.5 Horizontal Analysis of Balance Sheets 51

5.6 Ratios Analysis Of The Last Five Years 52

5.7 Vertical Analysis Of Income Statements 64

5.8 Vertical Analysis Of Balance Sheets 65

6. Conclusions & Recommendation 67

7. References 69

8. Annexures 70

8.1 Internship completion Letter

8.2 Income Statements & Balance Sheets

Acknowledgement

I would like to express my gratitude to all those who gave me the possibility to

complete this internship report. I want to thank the Accounts and Finance

Department of the Q-mart Corporation (Pvt) ltd for giving me permission to

commence this internship in the first instance, to do the necessary research work



and to use departmental data. I have furthermore to thank Me Shahzad fazli deputy

General Manager internal audit in Kohinoor textile Mills and Mr. Muhammad

Farooq Accounts and Finance Manager at Q-mart Corporation (Pvt) Ltd who gave

and confirmed this permission and encouraged me to go ahead with my internship.

I am bound to the Honorable Mr. Maqsood Ahmed Accounts Executive and to Mr.

Mujtaba Baig Assistant Finance Manager for their suggestions; valuable hints and

for giving me their precious time.

I am deeply indebted to my Internship Incharge Prof. Zahid Ali from Islamia

University of Bahawalpur whose help, stimulating suggestions and encouragement

helped me in all the time of research for and writing of this internship Report.

Lastly, I would like to pay special thanks to all of those who helped me directly or

indirectly for completing this internship report.

Mirza Muhammad Zaigham

INTRODUCTION TO RETAIL

Inception of Retail Business

Retailing is derived from the French word “retaillier” who means: “To cut off a piece or to break

bulk”

Retailing consists of the sale of goods or merchandise from a fixed location, such as a

department store , boutique or kiosk, or by post, in small or individual lots for direct consumption


http://www.google.com/url?q=http%3A%2F%2Fsales&sa=D&sntz=1&usg=AFQjCNFSnhA-UTQni-6fxr5-7G-qEQf0Rw

http://www.google.com/url?q=http%3A%2F%2Fkiosk&sa=D&sntz=1&usg=AFQjCNHZgZa5h0-Zso9chtMqHGtIAeehwg

http://www.google.com/url?q=http%3A%2F%2Fboutique&sa=D&sntz=1&usg=AFQjCNFDYxmm7z7583JZmEtaxZ4DjA_NSw

http://www.google.com/url?q=http%3A%2F%2Fstore&sa=D&sntz=1&usg=AFQjCNHa4bXu2IKBD9Z10s2RIRC_GSzHuw

http://www.google.com/url?q=http%3A%2F%2Fstore&sa=D&sntz=1&usg=AFQjCNHa4bXu2IKBD9Z10s2RIRC_GSzHuw


by the purchaser. Retailing may include subordinated services, such as delivery. Purchasers may

be individuals or businesses. A "retailer" buys goods or products in large quantities from

manufacturers or importers, either directly or through a wholesaler, and then sells smaller

quantities to the end-users / consumers. Retail establishments are often called shops or stores.

Retailers are at the end of the supply chain . Manufacturing marketers see the process of retailing

as a necessary part of their overall distribution strategy. The term "retailer" is also applied where

a service provider services the needs of a large number of individuals, such as a public utility ,

like electric power .

In general retailers perform four functions:

a. They collect an assortment of products and services from a wide variety of suppliers and offer

them for sale.

b. They provide information to consumers, as well as to other channel members.

c. They frequently store merchandise, mark prices on it and pay for items prior to, selling them to

final consumers.

d. They conclude transactions with the final consumers.

HISTORY OF RETAILING "FROM PEDDLERS TO CHAIN

STORES"

For thousands of years most goods were sold in market places or by peddling. In Pakistan, India,

tropical Africa and most of the developing countries including south and Latin America, hawkers

still walk the streets of cities and towns carrying their wares, or cycle/ motor cycle from street to


http://www.google.com/url?q=http%3A%2F%2Fpower&sa=D&sntz=1&usg=AFQjCNE5cbI557xXosIpgh_IVmsVU1zj6g

http://www.google.com/url?q=http%3A%2F%2Fpower&sa=D&sntz=1&usg=AFQjCNE5cbI557xXosIpgh_IVmsVU1zj6g

http://www.google.com/url?q=http%3A%2F%2Futility&sa=D&sntz=1&usg=AFQjCNF6Js0Uo-tHxMWUWdUWmh7DonLjeQ

http://www.google.com/url?q=http%3A%2F%2Futility&sa=D&sntz=1&usg=AFQjCNF6Js0Uo-tHxMWUWdUWmh7DonLjeQ

http://www.google.com/url?q=http%3A%2F%2Fmarketing&sa=D&sntz=1&usg=AFQjCNGLIsFVNNrANH3uN2utPzEu0i1cTw

http://www.google.com/url?q=http%3A%2F%2Fchain&sa=D&sntz=1&usg=AFQjCNG8d5iL7qd2foyqi7fESGeK0AYKWg

http://www.google.com/url?q=http%3A%2F%2Fchain&sa=D&sntz=1&usg=AFQjCNG8d5iL7qd2foyqi7fESGeK0AYKWg

http://www.google.com/url?q=http%3A%2F%2Fwholesale&sa=D&sntz=1&usg=AFQjCNHpIu_VCOsWkaF2VIsqsvqCF8662Q

http://www.google.com/url?q=http%3A%2F%2Fimport&sa=D&sntz=1&usg=AFQjCNFxRLrVTvTfs65dS7yfx5OBB5Knvw

http://www.google.com/url?q=http%3A%2F%2Fmanufacturing&sa=D&sntz=1&usg=AFQjCNF66NJgKZIdh4Ne9M8v2d5fbxcJSg


street or village to village. Even, in most developed countries peddlers are still seen selling

goods.

It is a normal sight in Pakistani cities, towns and villages that either on bicycles, tricycles, or on

animal driven carts, vendors sell all kinds of daily consumer goods and services, The

commodities range from cloth to cosmetics and milk to meat. Hairdressers, knife & scissors

repairers and sharpeners are normally seen on bicycles. In Karachi, Milkmen have switched to

bicycle from walking & from bicycle to motorcycle. Even some are using motor carriers these

days. Yet, still the market places remain the chief form of retail selling.

THE RETAIL STORES:

Chain of retail stores is known to have been operative in China several centuries before Christ.

The chain store, as it is known in much of the world today, however, is generally believed to

stem from the founding of Great Atlantic and Pacific Tea Company (A&P) in New York City in

1859.

The prototype of present day departmental stores existed in Japan as early as the 17th century.

The horse-drawn buses encouraged the growth of central business districts and allowed

department store to take hold in the western world. "Au Bon March" in Paris developed from a

large specialty-store to a department store in about 1860.

SMALL INDEPENDENT MERCHANTS,

However still form the majority of retailers in all the countries of the world. Till disintegration of

the USSR, most retail stores in all the communist countries were nationalized and still in most

countries they remain so. However in some states (Central Asian States) the trend is gradually

changing and self-owned retail stores are being encouraged and they are coming up.

The pattern of SUPER MARKET development was set in the United States in 1930, when

Michael Cullin opened the first unit of what was to become the King Kullen Chain of Super

Markets

Retail Scenario in Pakistan

Retailing in Pakistan, and for that matter in most of the Third World Countries, has traditionally

been a small scale business, meant mainly for small and less or not educated entrepreneurs. Till



late sixties, large scale retailing institutions like Super Markets, Departmental Stores, Discount

Houses were unheard of in Pakistan.

However, utility Store and canteen stores Department, a type of mini super markets, are

functioning since the time of independence: but these stores were mutual benefit stores for

service of government servants and Defense Services personnel respectively. In late sixties, in

Lahore, a super market chain with the name of COOP stores was introduced. The CSD still

remains a mutual benefit store but utility stores have been opened to general public. The chain of

COOP store of Lahore was later taken over by Utility Stores Corporation of Pakistan.

In the rural areas of Pakistan, the retailing still follows the same traditional "HUTTI' system —

small shops which provide very necessary daily use items to the villagers from available stores.

These days almost all grocery items, cosmetics, vegetable ghee, and other essential items

including shelf medicines are available on HUTTIES, but back in fifties rather till late in sixties

very few items could be procured from these HUTTIES.

In the urban areas of Pakistan, almost all types of related outlets exist. The introduction of sector

wise planned markets in the newly planned modern city of Islamabad the capital, gave new

dimensions to modern retailing in Pakistan. Thereafter almost in all other cities and new towns of

Pakistan, where a new residential locality had to be developed, special emphasis was given to

plan retail markets in a proper way. The main retail urban outlets are:

a. Small retailers

b. Large retailers/ wholesale retail stores

c. Department stores

d. Super markets

e. Street vendors

f. Vending machines

g. Mail order selling

h. Utility stores

i. Cooperative stores

j. Medical & general stores



k. Specialty stores

l. Juma, Mangal or Itwar Bazars

SMALL RETAILERS:

These are very similar to HUTTIES found in the rural areas of the country. Normally these types

of stores are located in suburbs of the cities and towns and take care of the demands and

requirements of the people living in that area.

LARGE RETAILERS/ WHOLESALE RETAIL STORES

These are few in numbers as compared to small retail stores. These are the types of stores which,

in Karachi, were originally found in the areas of Jodia Bazaar and Joona Market only. Almost all

the retailers in the city use to collect supplies from them till mid seventies. However, with the

development of the city, such like stores were opened in the areas of Liaqatabad (Lalukhet),

Nazimabad, Landhi, Malir Colony, Shah Faisal Colony, New Karachi, North Karachi, Korangi,

Orangi, Federal B area (Water Pump) and North Nazimabad.

DEPARTMENT STORES:

A department store is a large retailer employing about 25 or more people and usually selling a

general line of apparel for the family, household linens and dry goods and furniture, home

furnishings appliances, radios, and televisions. It is organized into separate departments for

purpose of buying, promotion, service and control.

In Pakistan, we do have department stores, but these stores do not qualify for discussion under

large scale retailing. The people who manage these stores are generally the owners or family

members of the owners who are guided solely by their gut-feeling. Most of them did not have the

exposure to any professional training or any kind of higher education. With the passage of time,

however, more and more educated persons are now entering into the retailing business.

SUPER MARKETS:

A supermarket is a departmentalized food store. Pakistan entered the super market era at a time

when some western European countries were moving from super market to 'Hypermarche'. The

first supermarket in Pakistan was opened at Karachi in 1968. During last 27 years quite a few of

them have sprung up, but most of these are more like "superettes" or mini super markets rather



than full-fledged supermarkets with intensive and extensive product mix. Even food items like

meat, fresh fruits, are not available with most of them.

STREET VENDORS/VENDING MACHINES

Door to door selling is a very common sight in Pakistan. The provision of products and services

through street vendors range from milk, bakery items, fish, vegetables, fruits, textiles, garments,

crockery, linen, CHATNIS & ACHARS and other special homemade eatables to barber,

gardening, house-making & cleaning and tailoring services.

The seller has to carry the merchandise. At times, vendor’s book orders by showing samples but

that is very rare. Normally credit facilities are not extended by door to door sellers; yet at times

depending on relations, credit is provided by the sellers for a period extending up to one week or

so. The milkman and the newspaper suppliers and at times even the vegetable vendors submit

bills at the end of the month; so in some cases a month's credit is extended to customers.

VENDING MACHINES

Were seen at airports and Railway stations sometimes back in 80s. Even now, in cities like

Islamabad, Karachi and Lahore vending machines are operative. These machines are usually

attended by a salesperson, thus the element of self service is not there. However, now telephone

booths which can be operated through coded cards are operative in almost all the major cities of

Pakistan.

MAIL ORDER SELLING:

This mode is popular in books and periodicals but seldom used for sale/ purchase of any other

merchandise. Lack of knowledge interest and integrity on the part of sellers and lack of efficient

postal system appears to be the two main causes for poor mail order business. Lack of

information of consumers and high cost of producing illustrated catalogs could be another factor

for restricted use of this method of retailing.

UTILITY STORES

Initially, utility stores were opened to provide goods on subsidized prices to government servants

only. However, later to ensure regular provision of essential commodities to general public at

reasonable prices, the doors of utilities stores were opened for commoners too. Utilities stores

stock and sell daily use items at lower prices compared to general market. The utility stores



corporation of Pakistan, a government controlled autonomous body is a limited company and has

several hundred branches all over the country. As per reported figures, the corporation by now

has a chain of about 1000 stores, which are located in all major cities and towns.

COOPERATIVE STORES

PIA coop store and a few other established in the country are the example. The COOP

established in 60s in Lahore has been taken over by utility stores corporation. Due to vested

interest of the members and lack of training, knowledge and education of the store operators

these kinds of stores have not been successful in Pakistan.

JUMMA/MANGAL/ITWAR BAZAARS:

The institution of these Bazaars can be described as a step towards "consumerism" in Pakistan.

In these Bazaars all daily use items are available. These can be termed; as discount houses since

as per claims, the commodities are available at much cheaper rates. The middleman and his share

have been eliminated and the producers directly sell goods to the end- users. The normal

complaint about these Bazaars is that sub-standard goods are sold at comparatively cheap rates.

However, this fact cannot be denied that except for nominal official rent and license fee to be

paid to Government, no other overheads are to be borne by the sellers and hence sellers at these

Bazaars remain cheaper as compared to stores housed in big buildings and malls.

Introduction of Q-Mart Corporation (Pvt) Ltd.



Objectives of studying the organization

This report has been prepared for the internship that has been done in the Q-Mart Corporation

(Pvt) Ltd in order to study the practical aspect of the course and implementation of the theory in

the real field with the purpose of fulfilling the requirements of the course of MSc Accounting &

Finance.

The aim of this internship is to be familiar to the practical aspect and uses of theoretical

knowledge and clarifying the career goals, so I have successfully completed the internship and

compiled this report as the summary and the conclusion that have drawn from the internship

experience.

The time in Q-mart Corporation (Pvt) Limited very audacious and supportive to my career

through which I have gained valuable work experience that will help definitely makes a

favorable impression on me as a prospective future employer.

Overview of the organization

Q-Mart Corporation ( Private) Limited was incorporated in Pakistan on July 18, 2005 as a private

limited company under the Companies Ordinance, 1984. The registered office of the company is



situated at 87/2, Arif Jan Road, Lahore Cantt. The principal activity of the company is to carry

on business as a retailer in all types of general merchandise. The company is wholly-owned

subsidiary of Kohinoor Mills Limited.

Being pioneer at the market place we will provide our customers with value through our products

and services, committing ourselves to providing the quality, variety and convenience at

economical price. We want our customers to trust in our pricing philosophy and to always be

able to find the lowest prices with the best possible service. Our success requires us to trust in

our employees, respect their individual contributions and make a commitment to their continued

development. This environment will allow us to attract the best people and provide opportunities

through which they can achieve personal and professional satisfaction. Our commitment is to

support the communities in which our employees and customers live and work. We will use our

time and resources to preserve our role as a partner, neighbor and friend.

Our responsibility to our company is clear - continuous profit growth while ensuring our future

success. Q-Mart will prosper through a balance of innovation and good business decisions that

enhances our operations and creates superior value for our customers

By pursuing these goals, Q-Mart will continue to build on our foundation as a world-class

retailer chain in Pakistan. We will continue to build strong relationships with the diverse people

and organizations with whom we work. We shall pursue our mission with a passion for what we

do and a focus on priorities that will truly make a difference in our future.

Overview of the parent Company (KML)

Kohinoor Mills Limited with its state-of-the-art facilities spread over an area of 165 acres is

located at 8th KM Manga Raiwind Road near provincial capital city Lahore.

Kohinoor Mills Limited is one of the largest vertically integrated textile manufacturers, started

its successful journey back in 1949. The company has achieved annual sales of US$ 140 million

to customers based in Americas, Europe, Africa, Australia and Asia.

We have diversified products and engaged in manufacturing of Greige and Dyed Fabrics

exported to major brands and retail chains.

Kohinoor Mills Limited has employed a highly qualified and technically trained workforce of

3000 people working as a closely knitted family based on corporate culture, values and beliefs.

Our team is capable of taking on challenges for fulfilling every work related task with dynamism

and dedicated efforts.



There are four divisions of the Kohinoor Mills Limited

1. Kohinoor Weaving is the flagship company of Kohinoor Mills Ltd. and is engaged in

producing greige cloth from cotton, blended and synthetic yarns.

2. Kohinoor Genertek is a division of Kohinoor Mills Ltd. It is engaged in power generation

& is back bone of un-interrupted production of Kohinoor Mills Ltd

3. Kohinoor Dyeing is engaged in the business of Apparel Fabric Dyeing, Bleaching &

Finishing (Cotton, Polycotton and other blends including Lycra). Product range includes

Dyed, PFD, and PFGD & White.

4. Q-Mart Division

Vision

To assist in a qualitative and quantitative change in the lifestyle of every person no matter where

they reside in Pakistan by empowering their right to a complete Choice of what product they

spend their income on and making available at their doorstep their Choice ensuring ‘Quality at

an Affordable Price’.

Provide all needed tools and assistance to the immediate Community and be a partner in the

active development of the social structure of the Community as a whole and the individual life as

a result today, tomorrow and for generations to come.

Aim

“The be the # 1 ‘Chain’ of Retail Stores in Pakistan”

CONCEPT

A Comprehensive Retailing Experience under one Roof

Focus on metropolitan & medium sized cities and towns.



Create a customer relationship and loyalty program where families grow with Q-Mart & also

POS, Point of sale system.

Board of Directors

Mr.Amir Fayez

Email: [email protected]

Miss Amir Fayez

Chief Executive Officers

Mr. Farooq Ahmed


Chief Financial Officer

Mr. Muhammad Farooq


Legal Advisors

Raja Muhammad Akram & Co

Advocate & Legal Consultants

Lahore

Auditors

M/s Riaz Ahmed & Co (Members of “Nexia International)

Charted Accountants

Address


mailto:[email protected]




10-B, Saint Mary Park, Main Boulevard Gulberg-III,

Lahore - 54660, Pakistan

Phones : (0092-42) 5718137-39

Fax : (0092-42) 5718136, 5714340

E-Mail : [email protected]

Head Office

Kohinoor Mills Ltd

Q-MART CORPORATION (PVT) LTED

8KM MANGA ROAD RAIWIND

DISTT, KASUR.

Tel: 042-111-941-941

Registered Office

87/2, ARIF JAN ROAD CANTT,

LAHORE.

Tel: 042-6603051-52

Fax: +92-42-6650994

Banks

ALLIED BANK LIMITED

FAYSAL BANK LTD

BANK ALFALAH

STANDARD CHARTERED BANK

Q-Mart strives to deliver the three A’s

Absolute Quality

we ensure that our customers are offered absolute quality products available for that is what our

customers deserve. Q-Mart maintains its own quality management procedures to make sure the



Absolute Quality is maintained consistently.

Affordability

we believe that our customer must receive maximum value for money. To that end we provide

absolute quality at an affordable price, discounting all our products for our valued customers.

Availability

We strive to achieve customer satisfaction and believe the choice is for our customers to make

not us. We provide any and every product our customer desires and it is delivered through

quality service on and off the retail floor.

Values & Culture As an organization it is our People who define our success. Our People focus on certain values

and culture which in turn drives our business and the organization as a whole. Q-Mart believes in

constant training and development of its human resource to provide customers good quality

services.

Market Leaders

As a business we strive to be the market leaders in everything we. We don’t believe in being

second best.

Efficiency

Efficiency is the key to success. We strive constantly to improve and learn from the mistakes

made to ensure tomorrow is a more efficient day.

Development

Everything can be improved including ourselves as individuals. We constantly aim to develop

better methods and systems to improve our service and business learning from both our failures

and successes.

Systems and procedures

Our systems are key to success in the business, we believe in continuous improvement in the

systems and our customers' valuable response to our services is the most valuable asset for

further improvement. We believe in transparent systems where our partners can come in and get

benefit out of it through knowledge sharing.



Integrity & Trust

We trust in each other and we trust in our ability to succeed. We try to do the right thing to the

best our ability and we work on a single platform where everyone in the organization is available

to everyone at all times.

Passion

Passion is our driving force. It is our passion to our Vision and Purpose that is the engine of this

organization.

CUSTOMER RELATIONSHIP

Q-Mart intends to build a strong relationship with its customers. The primary objective for

Q-Mart is to become not only the preferred choice of its individual customers but also

become the ‘family store’

To build this relationship Q-Mart will offer its customers a Q-Card. This card will be capable

of maintaining the customer’s data relating to their buying habits & enabling Q-Mart & its

vendors to plan their shelf inventories accordingly.

The Q-card members will also receive special promotional benefits as well as further

discounts on their regular shopping.

Q-Mart expects to know each one of its customers to the extent that if they walk in the sales

person should know what they need to buy and provide them assistance as well as offer any

other products which might be of their interest

ADVERTISING OPPORTUNITIES

Q-Mart provides to its suppliers an opportunity to directly advertise their products to the

consumers coming to the stores. It is the manufacturer’s initiative to market and push their

products to the customers.

Q-Mart has provided numerous options for advertising inside and outside the Store. In the first

phase these are all fixed signage.

In addition to advertising a manufacturer can also push their product to the customer through

placement at premium locations.

The following advertising & premium placement options are available.

Window Displays

Billboards



Entrance Display

Product Island Displays

Q-card & Lcd’s .

CLIENT RELATIONSHIP

Q-Mart’s focus is to be a true retailer providing an organized platform for manufacturers and

consumers to interact. While customer service on the Store Floor is one focus, Q-Mart believes

that it is essential for a retailer to interact constantly with manufacturers to provide the

information and feedback required to improve existing products and develop new ones.

In order to achieve this objective Q-Mart will be sharing constant information with its clients

including;

Daily sale data from each store of the client’s product as well as the category sales in which

the client’s products are defined.

Customer feedback and demand of different range of products.

Demographic and ancillary data of the clients’ customers and customers of the clients’

category.

Targeted promotional opportunities to a defined customer segment

In addition Q-Mart will also provide inventory tracking data to the Client and work closely with

the Client to plan the optimum shelf inventory of the Clients products and display plans.

PILFERAGE & SECURITY

Q-Mart acknowledges that the greatest challenge for any retailer is to reduce its pilferage to

minimal levels and develop security systems to implement this objective.

For this reason Q-Mart is has secured a comprehensive inventory and merchandize management

solution as a part of the core retail solution to make the inventory system as efficient as possible

and secure inventory leakages.

Q-Mart also intends to use technology in the form of bar-coding and RFID to create a security

system supported by in-store video surveillance, EAS tagging and cross checks at different

points of the merchandize movement till its ultimate departure through the store till.

It is for this reason that Q-Mart is investing in technology and looking for long term partners in

the industry who will work with the Q-Mart team to achieve an ultimate goal of ZERO Level

Pilferage.



SYSTEMS & MANAGEMENT

To operate a chain store management has to be centralized and systems designed to operate retail

stores in diversified locations

To achieve this central management team has been setup and extensive IT systems have been

implemented for the first time in Pakistan’s retailing industry

The objective is to provide quality service to our partners and consumers

Brief history & Nature of the Q-Mart

Q-Mart Corporation (private) was incorporated in 2005. The Head Office and other related

offices of the Q-Mart Corporation (Pvt) limited were at Rajpur , its includes Head Office , Q-

mart Flagship Store, Training Canter and Executive & Staff Accommodation. The purpose of

the incorporation was to do Retail Business in all over the Pakistan, but firstly they have to start

from small cities and then expend it in all over the Punjab, Sidh, Balochastan, and NWFP

respectively. On that time the Board of Directors has decided to open 500 departmental stores

and in first phase they opened 3stores one in Rajpur, 2nd was in Sargodha and 3rd was in Bhera.

And in 2nd phase they opened two more store on at Gujranwala and 2nd one at Bahlwal, but

unfortunately Gujranwala Store and Rajpur Store not go well and were closed in 2009 due to

heavy losses. And after it they opened their two more store one is at Manga Mandi and another

one at Lahore DHA.

Q-mart is still in losses from the date of its incorporation. But the management and the Board of

Directors are still competed toward the growth of the Q-mart. There is a green signal for the Q-

mart owners, the percentage of losses is going to consistently decreases, and I hope so in next

future the Q-mart will be in Profit.

Department at the date of Incorporation

Finance Information Technology

Retail & Marketing Merchandizing & Procurement

Human Resource & Administration Business Development

Warehousing & Logistics Engineering

The Expected Stores

Rajpur Sargodha District (Flagship Store)



Sargodha Sargodha District

Bhalwal Sargodha District

Jhawrian Sargodha District

Sahiwal Sargodha District

Sillanwali Sargodha District

Behra Sargodha District

Mandi Bhauddin Mandi Bhauddin District

Khutialan Sheikhan Mandi Bhauddin District

Hafizabad Hafizabad District

Q mart will be further added to 15 other locations in the 1st Phase;

Kot Momin Sargodha District

Bhagtanwala Sargodha District

Miani Sargodha District

Shahpur Sargodha District

Farooka Sargodha District

Jauhrabad Khushab District

Pind Dadan Khan Khushab District

Pindi Bhattian Hafizabad District

Jalapur Bhattian Hafizabad District

Malakwal Mandi Bhauddin District

Phallian Gujrat District

Dinga Gujrat District

Chinot Jhang District

Rabwa Jhang District

Jhang Jhang District

Current status

Head Offices

Now The Head Offices of the Q-Mart is located at Raiwind Road 8km Manga road, Distt Kasur,

and register office of the Qmart is at Arif Jan road Cantt, Lahore.

Departments



Accounts & Finance

Information Technology

Human Resource & Administration

Merchandizing & Procurement

Retail & Marketing

They have closed others departments

Operational Stores

Sargodha Cantt.

Bhalwal City.

Bhera Town.

MandiBhauddin City.

Gujranwala Satellite Town.

Manga Raiwind Road

Product lines and Important Brands

Q-Mart is a discounter carrying a maximum range of products divided into Basic, Mid and Top

ranges to provide the customer with a complete choice

The merchandize to be carried by Q-Mart is divided into the following categories;

Food Super Market Agro Products Apparel

Electronics Stationary Toiletries

Home Maintenance Hardware & Sanitary Pharmacy

Crockery & Kitchen Ware Lubricant & Spare Parts Tobacco

Home Products Footwear Vehicles

Fashion & Accessories Luggage & Storage Toys & Gifts

Q-Mart provides a platform to all manufacturers to promote and present their products to

their ultimate consumer

Unlike a distributor or a single shop Q-Mart works with manufacturers to provide business

intelligence and support allowing the manufacturer to develop their product in direct

response to the customers’ demands

Q-Mart is a professional retailer with a diversified customer base providing the potential

reach to the direct consumer which didn’t exist before in Pakistan



Q-Mart has setup a comprehensive tracking and payment system to ensure that a

manufacturer is always in the knowledge of its product placed on Q-Mart’s floor.

A manufacturer can track their inventory and receives payment of any inventory sold during

the week the very next day.

Q-Mart secures a manufacturers product placed on its floor by insuring the product and also

securing the payment of any product sold.

Q-Mart through its discounting policy further empowers the manufacturer to control and

market its products at any given time

Organizational Structures

Introduction to Organizational Charts

An organizational chart is a diagram that shows the structure of an organization as well as the

relationships and relative ranks of its positions. The term "chart" refers to a map that helps

managers navigate through patterns in their employees. Charts help organize the workplace

while outlining the direction of management control of subordinates.

Benefits of Organizational Charts

Organization charts are an effective way to communicate organizational, employee and

enterprise information. An org chart makes it easier for people to comprehend and digest large

amounts of information as a visual picture rather than as a table of names and numbers.



Organizational charts provide the greatest value when used as a framework for managing change

and communicating current organizational structure. When fully utilized, org charts allow

managers to make decisions about resources, provide a framework for managing change and

communicate operational information across the organization.

Organizational charts provide managers with specific departmental information that can then be

used as a baseline for planning, budgeting and workforce modeling. It's easy to collaborate on

important structural and personnel decisions when you have the overall picture along with the

smaller views that make up that bigger picture. Organizational charts can be linked directly to

spreadsheets or budgeting tools for interactive what-if analysis, making planning and decision-

making easier. Those organizational charts can then be used to provide scenarios back to

executives, finance and HR for evaluation and approval. Managers may also use organizational

charts to communicate and solicit feedback from their employees to build future plans

Organizational hierarchy

Accounts & Finance Department Hierarchy


Accounts & Finance Manager

Assistant Finance Manager

Accounts Executive

Accountant 1 Accountant 2

Accountant (DHA)

Accountant (MBD)

Accountant (SGD)

Accountant (BHL)

Accountant (MNG)

Total Employees =10




Retail Department Hierarchy



Analysis on the Qmart organizational charts

Islamia University of Bahawalpur

Retail Manager

Store Manager (Manga)

Store Manager (DHA)

Store Manager (SGD)

Store Manager (BHL)

Store Manager (MBD)

IT-Assistant

IT-Assistant Purchaser Store Supervisor Store Boys (6)




Purchaser Store Supervisor Store Boys (6)

Total Employees = 53

27


Span of Control & Unity of Command

Span of control refers to the number of subordinates a supervisor has. There are two types of

span of controls which exits in the many organization.

1. Wide span of control:

Wide span of control means a single manager or supervisor oversees a large number of

subordinates. This gives rise to a flat organizational structure.

2. Narrow span of control:

Narrow span of control means a single manager or supervisor oversees few subordinates. This

gives rise to a tall organizational structure’s Q-Mart have narrow span to control due to the

following reasons

Workers are located in different geographic locations like Mandibahudin, Sargodha, and

Bahlwal.

Because Q-Mart requires great deal of interaction between supervisor and workers

New problems arise frequently

3. Unity of Command

The unity of command principle states that an employee should have one and only one

supervisor to whom he or she directly reports. No employee should report to two or more

supervisor since each supervisor has their own priorities. So the same principal is adopting by the

Q-Mart Corporation (Private) Limited. Because the smoothness of the work.


http://en.wikipedia.org/wiki/Span_of_control


Primary and secondary activities

Primary Activities

Primary activity of the Q-mart is to do retail business in all stores by providing the quality

products to its customers at affordable rates and creating a long term customers relationship with

their customers.

Secondary Activities Secondary activity of the Q-Mart is to provide a place to other

investors to open their outlets at Q-mart stores and can sell their products in the roof on Q-Mart

On that time there are number of other investors who had open their outlets in the Roof of Q-

mart Names Are

JAWA Sweets

City Shoes

Hera Towels

Kohinoor Fair price Shop

Khan Medicine

Main offices

Main Offices are at 8km Manga Road Raiwind, Distt Kasur, And at mini market at Lahore other

related offices are at Manga, Mandi Bahaudin Sargodha, and Bahlwal DHA Lahore.

Brief Overview of the departments



On the date of incorporation the Q-Mart had many departments which are already discussed; on

that time the Q-Mart have only four departments the detail of the each, in respect of function,

procedure and no. of employees is given below.

Information Technology Department

What the I.T is?

We use the term information technology or IT to refer to an entire industry. In actuality,

information technology is the use of computers and software to manage information. In some

companies, this is referred to as Management Information Services (or MIS) or simply as

Information Services (or IS). The information technology department of a large company would

be responsible for storing information, protecting information, processing the information,

transmitting the information as necessary, and later retrieving information as necessary.

I.T department at Q-mart:

In order to perform the complex functions relating to information technology the Q-mart

employed the 7peoples, two at head office and the remaining five are at different stores. And the

department is operated by the I.T manager Mr.Kashif.

The main Factions of the department are

Solving the problems of Oracle financial.

Make the Policies Regarding I.T Packages.



Solving the Problems of POS

Introducing the new polices relating to smoothness of working at POS and Offices.

Opening the new Customers Accounts on Oracle Financial

Changing the Bar-Codes of the products

Solving and identifications of problems of Microsoft Business Solution Navisio

Retail Department:

The primary responsibility of the retail Department is to take care of the day-to-day operations of

the store. Retail Department consists of six peoples one is Retail Manager and the span of control

of the retail manager is short having five peoples who are the store managers of different

locations the store managers have to set work schedules, maintain inventories, ensure customer

satisfaction, design the layout of store merchandise, and they have gives report to retail manager.

A Stores manager's day-to-day responsibilities normally involve:

Customer issues: assisting customers and responding to customer complaints, requests,

queries, and comments.

Sales issues: finding new ways to improve sales, meet sales targets, analyze figures, forecast

volumes, and strategize.

HR issues: recruiting, training, supervising, motivating, and reviewing staff, as well as

resolving health, safety, and legal issues for the store.

Inventory issues: maintaining stock levels, ensuring the quality of supplies, and supervising

the quantity, type, and scheduling of orders.

Display issues: planning the layout and design of displays.

Coordination issues: acting as a link between management and staff.

Human Resources and administration Department

The Human Resource Department deals with management of people within the organization and

department are also performing the admin work with in the Q-mart.

It consisted of two peoples one is H.R manager and second one is his assistant.

Human resources or Personnel’s main responsibility is the recruitment, selection, training and

development of staff. This will involve developing staff to maximize their potential in a manner

that furthers the organization’s objectives.



Accounts & Finance Department

The role of an Accounts & finance department in the Q-Mart is to ensure that adequate funds are

for the resources that are required to help achieve the organizational objectives. The department

also ensures that the costs are controlled, that there is an adequate cash flow, and also that it

establishes and further controls all profitable levels. All of which are extremely important to the

running of any organization.

One of the major roles of the finance department in the Q-Mart is to identify appropriate

financial information prior to communicating this information to managers and decision-makers,

so that they can make informed judgments and decisions that will benefit the company or

organization. The finance department further prepares financial documents and final accounts for

managers to use and for reporting purposes.

Duties of the finance department include: Maintaining financial records, the payment of bills and

expenses, the collection of accounts that are due, the general monitoring of funds and the

payment of wages and salaries. Yet, it can be argued that the main duty of the finance

department is to provide information to the managers and decision makers within the business.

Therefore, it can be considered that the finance department is the backbone of any organization.

Without any form of financial control, the company would be unable to control the inward and

outward flow of cash and in terms of utilizing the cash, without the finance department, there


http://www.blurtit.com/q659452.html#%23

Accounts & Finance Manager

Assistant Finance Manager

Accounts Executive

Accountant 1 Accountant 2

Accountant (DHA)

Accountant (MBD)

Accountant (SGD)

Accountant (BHL)

Accountant (MNG)


would be very little knowledge or direction as to where the company can invest and how much

they can invest in.

Hierarchy of Finance Department


Total Employees =10


Standard Operating Procedure

Standard operating procedures are written guidelines that tell how a job or task should be

performed. These guidelines are a major part of a company's quality system.

Significance

Standard operating procedures are necessary for businesses to mass produce high-quality

products. On-the-job injuries are minimized when procedures for completing tasks are in place.

Function

The written instructions (SOP) for day-to-day tasks should be placed in a location easily

accessible to employees. Guidelines and procedural information should be legibly written.

Considerations

The company's standard operating procedures should provide a detailed account of the processes

necessary for your company to function. These processes are generally repetitive.

Benefits



When procedures are properly followed, quality products are produced in a uniform manner.

Operational guidelines help companies maintain consistency.

Warning

Standard operating procedures that don't clearly communicate how to properly perform a task or

duty are worthless. There is very little point to having written guidelines or instructions that

aren't being used on a consistent basis.

Here are some Standard operating Procedures for the Q-Mart Employees

Detailed S.O.P

A.M Finance

Daily Bank Position

Arrange cash in our bank accounts according to issued Cheques

Call to all banks on 09:30 am and confirm the available balances, after that call to all head

cashiers to deposit the cash in the banks where we need it.

Coordinate with store head cashiers and reconcile the cash on daily basis.

Working on Accounts Payable Module:

Check and approve all kind of accounts payable vouchers in Oracle Financials.

Booking of monthly expenses of all locations and head office in Oracle Financials.

Open and close the accounting periods in oracle financials.

Validation of payables in Oracle Financials.

Create accounting and processing payables work to general ledger module.

Fetching of all credit and cash invoices from Navision to integration and then from

integration to oracle financials.

Maintaining the supplier’s ledgers.

Working on General Ledger Module:

Check and approve all kind of journal vouchers.

Booking of expenses in Oracle Financials.

Posting of all entries to their respective heads.

Working on Accounts Receivable Module:

Booking of receivables from our all parties in Receivable module.

Working on Trial Balance



After completion of all processes from payables and general ledger module update the trial

balance on monthly basis.

Export trial balance from oracle for making the monthly profit and loss account.

Summarize the trial balance data head wise for monthly and annual accounts.

Working On fixed Assets Module:

Addition and deletion of company fixed assets.

Booking of fixed assets in Oracle Financials

Working On Microsoft Navision:

Open new vendor account in Navision on request of buyers and then update in oracle.

Update the daily sales report on daily basis.

Analyze and summarize different kind of reports from Navision.

Conduct Stock Takes For All locations:

Stock takes of all locations on random basis.

On stock take night before starting post all un-posted documents in Navision.

Freeze data for the required divisions.

Update the database before punching data in laptops.

After completion of stock counting item wise scanning and punching of stock in laptops.

As the data punching completes then collect data from both laptops and compile in a master

file.

Execute query after completion of all data and save in excel

Make a report with respect of divisions and difference in value.

These reports are hand over to store manager for verification of data and then update the

report after all kind of verifications.

Filter the data from verified report and send to it for upload in Navision.

As the data upload then after verification of correct validation post in Navision to update the

inventory.

WORKING ON SALARIES AND OVER TIME:

Checking and Booking:

Provide deductions from employees issued against provident fund and against salary to HR

department on Monthly basis.

Checking and booking of Salaries Department wise in Oracle.



Checking and booking of Social Security Department wise in Oracle.

Checking and booking of Employee’s Old Age Benefit Department wise in Oracle.

Checking and booking of Over Time Department wise in Oracle.

Booking of recovery from employees in form of mess, phone, salary and update the ledgers

by booking of entries in Oracle.

Payment of Salaries from Banks:

Transfer salaries to employee’s bank accounts through bank transfer letter printed on

Company letter head which have the following detail,

Title of Account

Bank Account Number

Payable amount

Signed by two signing authorities

Q Mart Stamp

Payment to SNS and Consignment Parties:

Monthly Payments of Vendors.

Monthly Payments of Consignment Vendors.

Cost of goods sold against above vendors

Rental income from above parties

Monthly Bank Reconciliations:

Monthly reconcile our bank accounts which detail is as under,

Allied Bank Sargodha

Allied Bank Bahlwal

Allied Bank Bahlwal

Allied Bank Lahore

Allied Bank Thokar

Bank Alfalah Mandi

Standard Chartered

Assist to Manager Finance:

Reporting on daily basis

Making on monthly accounts

At the time of annual audit



Detailed S.O.P

Accounts Officer

Sales Posting

At early morning confirm the sales amount from store cashiers.

Match the sales amount shown in Navision with actual cash figure at all stores.

After confirmation of sales post it in Navision.

Sales Cash deposits and direct payments to vendors:

Reconcile the sales cash according to vendor payments and used for store.

After reconciling cash on excel post all transactions to Oracle Financial

All the transactions consist of following natures,

Actual Sales amount post in oracle.

Sales cash deposit in bank post in oracle.

Credit sales transfer to alfalah bank post in oracle.

All petty expenses at store posted in oracle.

Post all payments to vendors in oracle.

Verification of Sales Cash used at stores:

Before posting all transactions in oracle, verify the following things,

Casting of all petty expenses.

All store expenses should be signed by store manager and store cashier.

The signed expenses should be approved by Regional retail manager

Cash Reconciliations:

After booking of all store receipts and payments reconcile the cash in oracle financial.

The closing balance of oracle financial should be equal to the amount issued to store for petty

expenses and for till cash.

If is there any difference the store cashier will explain the reason of tendency.

Checking of Reconciliation from Finance Manager:

The cash reconciliation statement should be checked and signed by finance manager.

Filling of Store Expenses and Z-Reports:



All the store expense vouchers should be filed with respect of there month and voucher

number assigned from oracle financial.

Z-Reports received from store should attach with the statement printed from Navision and

then punched in the file with respect of store and month.

Systems & Procedures involved in Finance Department

Accounting/Bookkeeping

Q-Mart accounting records will be maintained on a full accrual basis using up to date methods of

electronic data processing.

The following accounting records will be maintained:

Cash – consecutive record of cash receipts and payments

General Journal

General Ledger

Subsidiary Ledgers including Receivable/Payable/Rates Assets

Other records necessary to fully document and explain the financial transaction of Q-Mart as

required complying with the Companies Ordinance 1987 and GAAP.

Subsidiary ledgers shall be reconciled with the general ledger at least monthly.

There will be adequate and appropriate supervision of employees with sufficient employee

backup to ensure that accounts and ledgers are adequately maintained.

The Accounts & Finance Manager to sight and review all receipt reversals, journals, credit

notes, and other transactions

Cash Received

Cash received shall be recorded by an entry for each individual transaction.

The invoices record shall indicate the mode of payment, Cheques, cash,

Receipts shall be issued in numerical sequence.

Banking

Cash received by an officer or employee of Q-Mart must be paid into a Q-Mart bank account.

Cash received by or on behalf of Q-Mart must be banked as soon as possible on or after the

day of receipt.

Detailed records of Q-Mart’s banking activities must be kept.

Banking shall be reconciled with receipts.



In the intervening periods between banking, Cash received will be deposited in the safe.

Bank Accounts

Bank accounts will be operated exclusively for the purpose of conducting Q-Mart business.

Those presently approved:

Miss.Fayza (Director)

Chief Executive Officer

Financial Manager

At least two authorized bank signatories are required to disbursements of cash from bank

accounts.

All accounts will be in the name of Q-Mart Corporation (Pvt) Limited accounts can only be

opened with the approval of the Chief Executive Officer and Director

Bank reconciliation for each bank account operated by Q-Mart shall be prepared monthly.

Accounts for Payment and Disbursements

All accounts for payment shall be certified by an Authorized Officer as to:

The receipt of the goods and services being in accordance with the

Relevant Purchase order

The prices charged being fair and reasonable

The calculations and additions being correct

The allocation of the payment to the correct ledger account

Payments/disbursements is to be made by the crossed Cheques

Cheques shall be on Q-Mart stationery, pre-numbered and issued in numerical sequence

Unused Cheques shall be in the custody of the Accounts Payable Officer who shall maintain

a register

Purchasing

Procurement will be undertaken by Q-Mart in a way which:

Encourages purchases being made from a registered Suppliers or from Open Markets

All the purchases must be made according to the demand

Proper documentation must be made by the purchase managers

All the purchase Orders Must be signed by the departmental purchaser

All the Purchases Orders must be matched by the Good received Notes

Salaries and Wages Payroll



Records will be maintained in respect all employees of Q-Mart showing Gross salary or

wages

Tax and details of all other payments and deductions

Sick, annual, long service and other leave available and taken

Allocation of time worked on jobs

Salaries and wages will be paid on the basis of attendance recorded on an approved time

sheet, except for employees on “no fixed hours” Contracts

Time sheets will be mailed by the store Manager to the H.R manager

All claims for payment of overtime must be authorized by the relevant manager before being

paid.

Information Technology

Q-Mart has invested in the best IT solutions tested and deployed internationally to enable its

vision of management.

Fujitsu & Navision

The merchandizing, buying, warehouse management and Store POS sale is done through a

centralized online system provided by Fujitsu and Navision. The system has been deployed at

leading retail chains globally

ERP & OCS 10g

Oracle is a technology partner providing an end to end platform. Oracle Financials, Inventory

and Purchasing will form the core financial management tools for the operation. Internal

company communication and external communication with vendors and suppliers will be

managed through Oracle Collaboration Suite 10g. The OCS 10g implementation at Q-Mart is

the first implementation of 10g outside the US.

Microwave Network

A fully deployed and owned Microwave Network linking each of the stores. This would

effectively become the largest wireless communication network in Pakistan when deployed over

all future stores.

NCR



The POS systems deployed at all Q-Mart stores are provided by NCR which is the global leader

in POS technology. The POS systems being used at our stores have for the first time been

introduced in the Pakistan market allowing our cashiers to provide international standard service

to our customers.

Analysis

Pest Analysis

PEST analysis stands for "Political, Economic, Social, and Technological analysis" and describes

a framework of macro-environmental factors used in the environmental scanning component of

management. These are known as PEST analysis.


http://scribd1.blogspot.com/

http://en.wikipedia.org/wiki/Environmental_scanning



Here we are analyzing the pest analysis because we want to know whether these points are

affecting the performance of the Q-Mart or not.

Importance of Pest Analysis

PEST influences are a helpful method of summarizing the external environment in which a

business operates.

Q-MART A Retail Company

We see that Q-Mart is a growing baby in the Pakistani markets. And still he has to grow in the

Pakistan’s market and he has to become young, then mature and then become old and then will

stay in the Pakistan’s markets.

Purposes of Q-Mart

Purpose of the Q-mart is to do retail business in the all over the Pakistan, before opening the

more stores in different location within the Pakistan we have to do PEST analysis so that we can

implement the our best practices in other places of the country and we can get more and more

profit from the other cities and we can capture the whole market of the country. In Short we can

achieve our goal, which is “The be the # 1 ‘Chain’ of Retail Stores in Pakistan”

Components of Pest analysis

These are four factors whose applies in PEST analysis mostly, but here all factors will be

discussed with details.





Political factors

Are how and what degree a Government interference in his economy specifically political factors

includes areas such as

Tax Polices

Labor Law

Environmental Law

Trade Restrictions

Tariffs

Political stability

Political Factors may also include goods and services which the Government wants to provide or

be provided but others there are some question in our mind during the analysis which is

The political areas have a huge influence upon the regulation of businesses, and the spending

power of consumers and other businesses. We must consider issues such as:

How stable is the political environment?

Will government policy influence laws that regulate or tax our business?

What is the government's position on marketing ethics?



What is the government's policy on the economy?

Does the government have a view on culture and religion?

If these factors are goes in favor of Q-Mart then we will decide that the political environment is

favorable for opening the new stores and I thought that it is a big opportunity for Q-Mart to do

business and for earn profit.

Economic Factors

Here the Q-Mart analyze the economy of Pakistan and know how the economic factors are

influence on company the factors may be include of

Economic growth,

Interest rates,

Exchange rates

Inflation rate.

Employment level per capita.

Long-term prospects for the economy Gross Domestic Product (GDP) per capita, and so on.

These factors have major impacts on how businesses operate and make decisions. For example,

interest rates affect a firm's cost of capital and therefore to what extent a business grows and

expands. Here the Q-Mart knows that if the majority of factors are going to his favor then the

company can decide to open new stores.

Social Factors.

In the Social Factors the Q-mart Corporation (Pvt) Ltd will analyze the social factors include the

Cultural aspects

Health Consciousness

Population Growth Rate

Age Distribution

Career Attitudes

Emphasis on Safety

A trend in social factors affects the demand for a company’s products and how that company

operates. For example, an aging population may imply a smaller and less-willing workforce

(Thus increasing the cost of stores staff). Furthermore, companies may change various

management strategies to adapt to these social trends (Such as recruiting older workers) and

some question arises in our mind because the culture is different from city to city these may be


http://en.wikipedia.org/wiki/Cost_of_capital

http://en.wikipedia.org/wiki/Inflation_rate

http://en.wikipedia.org/wiki/Exchange_rate

http://en.wikipedia.org/wiki/Interest_rate

http://en.wikipedia.org/wiki/Economic_growth



The social and cultural influences on Q-mart (Some Extent) vary from city to city. It is very

important that such factors are considered. Factors include:

What are the dominant language, Urdu, Punjabi, saraki, sindi, and blochi?

Does language impact upon the diffusion of products onto markets?

What are attitudes to local and imported products and services?

How much time do consumers have for leisure?

What are the roles of men and women within society?

How long are the population living? Are the older generations wealthy?

Does the population have a strong/weak opinion on political issues?

If these are in favor of Q-Mart Company then will be the best environment for investing in other

cities for opening the new stores.

Technological Factors

Technology in the retailing industry has provided a new dimension. The introduction of point of

sale equipment, bar codes and huge storage capacity for billing and payment database has

facilitated the management of large set-ups with ease. Operations can be recorded in a structured

and systematic manner, providing detailed analysis of the sales and volume of transactions.

Electronic transactions have increased the volume of sales in the country. Flexibility in the mode

of payment and cashless transactions has helped in driving sales. Communication assists in

maintaining a competitive advantage in retaining and attracting customers. The introduction of

new technology may be intricate for retailers, but the convenience and cost effectiveness create

the need for new advancements. Large stores need to monitor inventories and expenses of

establishments. With automated machines and high-end computers making the task simpler, the

focus of retailers can stay on retaining customers with new strategies. Security systems also do

help for a safer shopping, for retailers as well as customers, providing immense mental relief.

Such technological advancements are only now coming into Pakistan and the need for it has been

acknowledged. The point of sale (POS) applications will provide for quicker consumer check-out

and multiple payment options like credit cards. Solutions ranging from simple Point of Sale

(POS) systems to complex retail ERPs have been implemented mainly by large, mid-sized and

manufacturer-retailers in Pakistan Using ERP packages and solutions like Retail Pro, higher-end

solutions like SAP.




We know that, Technology is vital for competitive advantage, and is a major driver of retail

business. Consider the following points:

Does technology allow for products and services to be sold more cheaply and to a better

standard of quality?

Do the technologies offer consumers and businesses more innovative products and services

such as Internet banking, new generation mobile telephones, etc?

How the technologies effect the system of Point of sale (pos)?

Does technology offer to Q-mart a new way to communicate with consumers e.g. banner,

cables, and internet?

Q-Mart Retail Company analyze the technological factors if they meet their requirements then

the company will decide it positively

SWOT Analysis

What is SWOT analysis?

SWOT is an acronym for Strengths, Weaknesses, Opportunities, and Threats. Occasionally, it

may also be found as a ‘WOTS up’ analysis or the TOWS analysis. The technique is credited to

Albert Humphrey who led a research project at Stanford University in the 1960s and 1970s using

data from leading companies involved in long range planning processes.

A SWOT analysis is a planning tool used to understand the Strengths, Weaknesses,

Opportunities, and Threats involved in a project or in a business. It involves stating the objective

of the business or project and identifying the internal and external factors that are either

supportive or unfavorable to achieving that objective. SWOT is often used as part of a strategic

or business planning process, but can be useful in understanding an organization or situation and

decision-making for all sorts of situations.

The SWOT is great for developing an understanding of an organization or situation and decision-

making for all sorts of situations in business, organizations and for individuals.

Doing a SWOT can be very simple, however its strengths lie in its flexibility and experienced

application.

Strengths




The positive tangible and intangible attributes, which are within an organization. They are

within the organization’s control.

Understand the needs and wants of the local consumer

Having personal relationship with the community, local knowledge

Convenient locations

Low cost of running day to day operation

Short term udhaar

Consumer acceptance

Loyal customer base

Low price perception

New entrant

Economical pricing

Q-market and Q Card

Mega locations

True Retail Store providing one stop shopping

Fun place for families and kids

High levels of QSC

Aggressive Marketing

Major player in community development

Weakness

Factors that are within an organization’s control that detracts from its ability to attain the desired

goal. Which areas might the organization improve?

Q-mart stores are located away from the shopping areas/ main trading areas

Big/ shiny stores can be a barrier to get customers

Low levels of quality, service and cleanliness

Less variety, Poor ambiance



Higher pricing

No expansion

No media presence

Couldn’t able to attract kids/ families

Opportunities

The external attractive factors, that represents the reason for an organization to exist and develop.

What opportunities exist in the environment, which will improve the organization?

Kids playing area

Sufficient untapped market

Growing knowledge of consumer

Media consumption habits

Expansion in new cities

Family oriented stores

Improve on services, quality

Market presence (Advertising)

Threats

External factors, beyond an organization’s control, which could place the organization mission or

operation at risk. The organization may benefit by having contingency plans to address them if

they should occur.

Arrival of new markets

Consumer expectation level is getting higher day by day

Growing competition

Unpredictable Govt. taxation policie

Five Competitive Forces Model

Here is a brief background on who developed it, and why it is useful.

The model originated from Michael E. Porter's 1980 book "Competitive Strategy: Techniques

for Analyzing Industries and Competitors." Since then, it has become a frequently used tool for

analyzing a company's industry structure and its corporate strategy.


http://www.investopedia.com/terms/p/porter.asp


In his book, Porter identified five competitive forces that shape every single industry and market.

These forces help us to analyze everything from the intensity of competition to the profitability

and attractiveness of an industry. Flowing figure shows the relationship between the different

competitive forces.

Threat of New Entrants – Its means that the new companies have a lot of potential in the

industry to enter as a new supplier of the specific product, it is easy for new companies to enter

the industry. In the retailing business there are number of companies are working and still there

is a potential in this industry to absorb the new entrants because the needs of the peoples are

changing rapidly, and they are demanding the new product, so for the fulfillment the demand of

the customer the people comes in the industry as a retailer. But there are some reasons through

which peoples feel hesitation and these reasons limits the threat of the new entrants are known

as a Barriers to Entry .Some examples include:

Existing loyalty of big retail Stores, Like Macro, Hyperlink, and Q-Mart.

Incentives for using a particular buyer (such as frequent shopper programs)

High fixed costs


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Scarcity of resources

High costs of switching companies

Government restrictions or legislation

Power of Suppliers – Its means how much pressure suppliers can place on a business? If one

supplier has a large enough impact to affect a company's margins and volumes, then it holds

substantial power. Q-Mart is a Retail business having different departmental at different location,

so the suppliers of the Q-Mart are Open Markets Supplier, There are somehow have a permanent

suppliers. Sometime the open market supplier take a benefit from the needs of the Q-mart, and

they charge the same rate on which they are providing to others, so it creates the completions

between the Q-mart and others stores. Here are a few reasons that suppliers might have power:

There are very few suppliers of a particular product

There are no substitutes

Switching to another (competitive) product is very costly

The product is extremely important to buyers - can't do without it

Power of Buyers – Its means how much pressure customers can place on a Q-Mart.? If one

customer has a large enough impact to affect a company's margins and volumes, then the

customer hold substantial power. The buyers of the Q-mart are the general public of the different

location, as we discussed the Q-mart have a focus to do its business mainly in the rural areas and

the peoples of the rural areas are not educated. so some time it will be difficult for the Q-Mart

employees to retain the peoples of the rural areas because they not listen any one , they do

according to their mind, Here are a few reasons that customers might have power:

Small number of buyers

Purchases large volumes

Switching to another (competitive) product is simple

The product is not extremely important to buyers; they can do without the

Product for a period of time

Customers are price sensitive


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Availability of Substitutes - What is the likelihood that someone will switch to a

competitive product or service? If the cost of switching is low, then this poses a serious threat.

Here are a few factors that can affect the threat of substitutes:

The main issue is the similarity of substitutes. For example, if the price of coffee rises

substantially, a coffee drinker may switch over to a beverage like tea. If substitutes are similar, it

can be viewed in the same light as a new entrant

Competitive Rivalry - This describes the intensity of competition between existing firms in

an industry. Highly competitive industries generally earn low returns because the cost of

competition is high. A highly competitive market might result from:

Many players of about the same size; there is no dominant firm

Little differentiation between competitors’ products and services

A mature industry with very little growth; companies can only grow by stealing customers

away from competitors

Q-Mart Corporation (Private) Limited

Horizontal Analysis of Income Statements

For the Last Five Years june-2006 to Dec 2010



2006-07 2007-08 2008-09 2009-10

Sales 525.48% 30.08% 116.93% 47.82%

Less: Cost of Sales 726.93% 22.75% 113.83% 50.97%

Gross Profit 98.54% 94.75% 134.19% 31.83%

Less: Operating Expenses

Administration Expenses 473.74% 24.43% 50.22% 11.27%

Selling & dist Expenses 196.88% 28.28% (76.01%) (24.28%)

Bank Charges -100.00%

Loss on sale of land -100.00%

Other operating Expenses

Total Ope & Admin Exp. 369.52% 25.98% 24.50% 9.36%

Operating Income /Loss 492.32% 15.54% -3.59% -4.61%

Net Loss before tax 524.98% 18.96% -7.42% -5.08%

Income tax 9245.81% (23.14%) 461.46% -93.34%

Net Loss After tax 445.78% 24.69% -46.74% 84.69%


Horizontal Analysis of Balance Sheets




Assets 2006-07 2007-08 2008-09 2009-10

Non-current Assets

Property, plant & equipment 7.32% 6.64% -1.18% 1.27%

Intangible fixed assets -15.73% -5.75% (100.00%)

Deferred tax assets 80.20% 221.31% 0.00%

security deposits 33.68% 430.70% 0.00% 0.00%

9.11% 9.10% 5.10% 1.10%

Current Assets

Stock in Trade 206.10% 159.92% 50.70% 14.60%

Advances, deposits and

prepayments 54.25% 71.93% 7.58% 16.64%

Cash And Bank Balances -62.73% 569.61% -60.60% -31.78%

Other receivables

78.88% 150.68% 26.89% 13.90%

Total Assets 12.34% 19.54% 8.47% 3.42%

Equity & Liabilities

Authorized capital 0.00% 40.00% 0.00% 0.00%

25,000,000 ordinary shares of rs, 10

Issued, Subscribed and paid up

capital 0.00% 31.95% 24.91% 21.34%

share deposit money 1692.68% 36.55% -60.65%

-

100.00%

Accumulated Loss 545.78% 105.38% 27.33% 39.64%



Total Equity 5.17% 18.16% 0.99% 0.48%

Deferred Liabilities

Provision for gratuity

Current Liabilities

Trade and other Payables 104.70% 23.16% 62.73% 13.27%

Provision for taxation

Total Current Liabilities 106.85% 28.75% 54.46% 15.22%

Total Equity & Liabilities 12.34% 19.54% 8.47% 3.42%

Ratios Analysis of the Financial Statements

Q-Mart Corporation (Pvt) Ltd

For the Last Five Years.

Ratio Analysis 2006 2007 2008 2009 2010

Liquidity Ratios

Current ratio

Current Assets 7332355 13116245 32879812 41720212 47518539

Current Liabilities 11167731 23100946 28709080 45940589 52931197

0.656566226 0.56777956 1.145275711 0.908134 0.897741629

Quick Ratio

Current Assets-Stock 4746110 5199643 12303260 10710502 11980763

Current Liabilities 11167731 23100946 28709080 45940589 52931197

0.424984269 0.22508355 0.428549435 0.2331381 0.226345968

Activity Based Ratios

Inventory Turnover

C.G.S 5236462 43302003 53152690 113653744 171580407

Inventory 2586245 7916602 20576552 31009710 35537776

2.024735476 5.46977137 2.583167967 3.6651018 4.828113245



Total Asset Turnover

Sales 7707371 48207680 62704609 136027772 201075101

Total Assets 158330052 177873116 212625379 230636428 238517102

0.048679141 0.27102286 0.294906513 0.5897931 0.843021734

Debt Ratios

Debt Ratio

Total Liabilities 11167731 23100946 79043328 65340580 52931197

Total Assets 158330052 177873116 212625379 230636428 238517102

7.05% 12.99% 37.17% 28.33% 22.19%

Profitability Ratios

Gross Profit Margin

Gross Profit 2470909 4905679 9551919 22374028 29494694

Net Sale 7707371 48207682 62704609 136027772 201075101

32.06% 10.18% 15.23% 16.45% 14.67%

Operating Profit Margin

Operating Profit -5452566 -32296406 -37313851 -35975404 -34316777

Net Sale 7707371 48207682 62704609 136027772 201075101

-70.74% -66.99% -59.51% -26.45% -17.07%

Net Profit Margin

Net Profit -4851579 -26479075 -33016795 -17586212 -32480434

Net Sale 7707371 48207682 62704609 136027772 201075101

-62.95% -54.93% -52.65% -12.93% -16.15%

Earnings per Share

Net Profit -4851579 -26479075 -33016795 -17586212 -32480434

No. Of Shares 15000000 15000000 19792950 23079617 27975926

-0.32 -1.76 -1.66 -0.76 -1.16

Return On Assets

Net Profit/Loss -4851579 -26479075 -33016795 -17586212 -32480434

Total Assets 158330052 177873116 212625379 230636428 238517102

-3.06% -14.89% -15.53% -7.63% -13.62%

Return On Equity

Net Profit/Loss -4851579 -26479075 -33016795 -17586212 -32480434



Total Assets 147162321 154772170 133582651 165295839 185585905

-3.30% -17.11% -24.72% -10.64% -17.50%

Interpretation of Ratios Analysis

Liquidity Ratios:

Liquidity Ratios are ratios that come off the Balance Sheet and hence measure the liquidity of the

company as on a particular day i.e. the day that the Balance Sheet was prepared. These ratios are

important in measuring the ability of a company to meet both its short term and long term

obligations.

1: Current Ratio:

The formula:

Current Ratio = Total Current Assets/ Total Current Liabilities

The Interpretation

This ratio is obtained by dividing the 'Total Current Assets' of a company by its 'Total Current

Liabilities'. The ratio is regarded as a test of liquidity for a company. It expresses the 'working

capital' relationship of current assets available to meet the company's current obligations



Q-Mart Corporation (Pvt) ltd has Rs. 0.656 of Current Assets to meet Rs1.00 of its Current

Liability

2: Quick Ratio:

The formula:

Quick Ratio = Total Quick Assets/ Total Current Liabilities

Quick Assets = Total Current Assets (minus) Inventory

The Interpretation:

This ratio is obtained by dividing the 'Total Quick Assets' of a company by its 'Total Current

Liabilities'. Sometimes a company could be carrying heavy inventory as part of its current assets,

which might be obsolete or slow moving. Thus eliminating inventory from current assets and

then doing the liquidity test is measured by this ratio. The ratio is regarded as an acid test of

liquidity for a company. It expresses the true 'working capital' relationship of its cash, accounts

receivables, prepaid and notes receivables available to meet the company's current obligations.

3: Inventory Turnover ratio:

The formula:

Inventory Turnover Ratio = Net Sales / Inventory



It could also be calculated as:

Inventory Turnover Ratio = Cost of Goods Sold / Inventory

The Interpretation:

This ratio is obtained by dividing the 'Total Sales' of a company by its 'Total Inventory'. The

ratio is regarded as a test of Efficiency and indicates the rapidity with which the company is able

to move its merchandise. Q-mart Corporation (Pvt) Ltd is able to rotate its inventory in sales

3.59(Average) times in one year.

Profitability Ratios:

Profitability Ratios show how successful a company is in terms of generating returns or profits

on the Investment that it has made in the business. If a business is liquid and efficient it should

also be Profitable.

4: Return on Sales or Profit Margin (%):.

The formula:

Return on Sales or Profit Margin = (Net Profit / Net Sales) x 100

The Interpretation:

The Profit Margin of a company determines its ability to withstand competition and adverse

conditions like rising costs, falling prices or declining sales in the future. The ratio measures the



percentage of profits earned per dollar of sales and thus is a measure of efficiency of the

company.

Q-Mart Corporation (Pvt) Ltd is in loss from the date of its corporation, but the percentage of

losses in consistently going to decreases and it is the good point for the management of the Q-

mart and they hope so in near future they will get rid form the heavy losses, the percentage of

losses in 2006 to 2010 is given below in the shape of chart. You can see there is a consistently

decrease in the losses.

5: Gross Profit Ratio:

The Formula:

Following formula is used to calculate gross profit ratios:

[Gross Profit Ratio = (Gross profit / Net sales) × 100]

The Interpretation:



Gross profit ratio (GP ratio) is the ratio of gross profit to net sales expressed as a percentage. It

expresses the relationship between gross profit and sales.

The basic components for the calculation of gross profit ratio are gross profit and net sales. Net

sales mean that sale minus sales returns. Gross profit would be the difference between net sales

and cost of goods sold. C ost of goods sold in the case of a trading concern would be equal to

opening stock plus purchases, minus closing stock plus all direct expenses relating to purchases.

In the case of manufacturing concern, it would be equal to the sum of the cost of raw materials,

wages, direct expenses and all manufacturing expenses. In other words, generally the expenses

charged to profit and loss account or operating expenses are excluded from the calculation of

cost of goods sold.

6: Operating Profit Ratio

The Formula:


http://www.accountingformanagement.com/cost_of_goods_sold_definition.htm

http://www.accountingformanagement.com/raw_materials_definition.htm





The Interpretation:

Operating margin or operating profit margin measures what proportion of a company's revenue is

left over, after deducting direct costs and overhead and before taxes and other indirect costs such

as interest. Operating margin is used to measure company's pricing strategy and operating

efficiency. It gives an idea of how much a company makes (before interest and taxes) on each

dollar of sales. Operating margin ratio shows whether the fixed costs are too high for the

production or sales volume. A high or increasing operating margin is preferred because if the

operating margin is increasing, the company is earning more per dollar of sales. Operating

margin can be used to compare a company with its competitors and with its past performance. It

is best to analyze the changes of operating margin over time and to compare company's figure to

those of its competitors. Operating margin shows the profitability of sales resulting from regular

business. Operating income results from ordinary business operations and excludes other revenue

or losses, extraordinary items, interest on long term liabilities and income taxes. The trend in the

Operating Profit ratios of the Q-mart Corporation since 2006 is given below.

7: Return on Assets:

The formula:

Return on Assets = (Net Profit / Total Assets) x 100

The Interpretation:



The Return on Assets of a company determines its ability to utilize the Assets employed in the

company efficiently and effectively to earn a good return. The ratio measures the percentage of

profits earned per dollar of Asset and thus is a measure of efficiency of the company in

generating profits on its Assets. This is a useful indicator as to whether a business is using its

assets well and getting the most value out of capital expenditure. Companies using their assets

well will have a relatively high return, while those less well-run businesses will have a relatively

low return.

8: Return on Equity or Net Worth:

The formula:

Return on Equity or Net Worth = (Net Profit / Net Worth or Owners Equity) x 100

Net Worth or Owners Equity = Total Assets (minus) Total Liability

The Interpretation:

The Return on Equity of a company measures the ability of the management of the company to

generate adequate returns for the capital invested by the owners of a company. Generally a return

of 10% would be desirable to provide dividends to owners and have funds for future growth of

the company.

Widely used by investors, the ROE ratio is an important measure of a company's earnings

performance. The ROE tells common shareholders how effectively their money is being



employed. Peer Company, industry and overall market comparisons are appropriate; however, it

should be recognized that there are variations in ROEs among some types of businesses. In

general, financial analysts consider return on equity ratios in the -0% to -25% range as

representing disappointing situation.

9: Debt ratio

The formula:

The Interpretation:

The debt ratio compares a company's total debt to its total assets, which is used to gain a general

idea as to the amount of leverage being used by a company. A low percentage means that the

company is less dependent on leverage, i.e., money borrowed from and/or owed to others. The

lower the percentage, the less leverage a company is using and the stronger its equity position. In

general, the higher the ratio, the more risk that company is considered to have taken on.

The easy-to-calculate debt ratio is helpful to investors looking for a quick take on a company's

leverage. The debt ratio gives users a quick measure of the amount of debt that the company has


http://www.investopedia.com/terms/l/leverage.asp

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on its balance sheets compared to its assets. The more debt compared to assets a company has,

which is signaled by a high debt ratio, the more leveraged it is and the riskier it is considered to

be. Generally, large, well-established companies can push the liability component of their

balance sheet structure to higher percentages without getting into trouble




Vertical Analysis of Income Statements


2006 2007 2008 2009 2010

Sales 100.00% 100.00% 100.00% 100.00% 100.00%

Less: Cost of Sales 67.94% 89.82% 84.76% 83.55% 85.33%

Gross Profit 32.06% 10.18% 15.24% 16.45% 14.67%

Less: Operating Expenses

Administration Expenses 65.78% 60.34% 57.71% 39.97% 30.08%

Selling & distribution

Expenses 34.78% 16.51% 16.28% 1.80% 0.92%

Bank Charges 0.34% 0.00% 0.00% 0.00% 0.00%

Loss on sale of land 1.91% 0.00% 0.00% 0.00% 0.00%

Other operating Expenses

Operating Income /Loss -70.74% -66.99% -59.51% -26.45% -17.07%

Other income 8.30% 4.60% 2.44% 2.09% 1.43%



Net Loss before tax -62.45% -62.40% -57.07% -24.35% -15.64%

Provision for I.T/ Income tax 0.50% 7.47% 4.41% 11.43% 0.51%

Net Loss After tax -62.95% -54.93% -52.65% -12.93% -16.15%


Vertical Analysis of Balance Sheets


2006 2007 2008 2009 2010

Assets

Non-current Assets

Property, plant & equipment 91.85% 87.74% 78.27% 71.30% 69.82%

Intangible fixed assets 3.33% 2.49% 1.97% 0.00% 0.00%

Deferred tax assets 0.00% 2.16% 3.26% 9.65% 9.33%

security deposits 95.37% 92.63% 84.54% 81.91% 80.08%

Current Assets

Stock in Trade 1.63% 4.45% 9.68% 13.45% 14.90%

Advances, deposits and prepayments 1.85% 2.54% 3.66% 3.63%

Cash And Bank Balances 1.15% 0.38% 2.13% 0.77% 0.51%

Other receivables 0.00% 0.00% 0.00% 0.24% 0.42%

Total Assets 100.00% 100.00% 100.00% 100.00% 100.00%



Equity & Liabilities

Issued, and paid up capital 94.74% 84.33% 93.09% 107.19% 125.78%

share deposit money 1.27% 20.30% 23.19% 8.41% 0.00%

Accumulated Loss -3.06% -17.61% -30.26% -35.53% -47.97%

Total Equity 92.95% 87.01% 86.01% 80.08% 77.81%

Deferred Liabilities

Provision for gratuity 0.00% 0.00% 0.49% 0.00% 0.00%

Current Liabilities

Trade and other Payables 7.05% 12.85% 13.24% 19.86% 21.76%

Provision for taxation 0.00% 0.14% 0.26% 0.05% 0.43%

Total Current Liabilities 7.05% 12.99% 13.99% 19.92% 22.19%

Total Equity & Liabilities 100.00% 100.00% 100.00% 100.00% 100.00%



Conclusions & Recommendations

As we discussed earlier the purpose of the Q-mart Corporation was to do retail business in all

over the Pakistan but unfortunately the Q-mart is in losses since its incorporation. The reasons

was that poor management of the earlier employees, even though they hair a talented employees

like charted accountant’s etc. but on that time they invested a huge capital expenditures without

forecasting the future of that capital expenditure and they targeted only to the rural areas. Now

the situation is different of the Q-Mart , now it is going toward the prosperity the percentage of

losses is decreasing consistently, they closed down the those stores from where they were getting

the losses , they also decreases the departmental expenses. And they hope so in next one to 2

years they will be in profit and they can accomplish their goals which was to do business in all

over the Pakistan and to The be the # 1 ‘Chain’ of Retail Stores in Pakistan.



Q-mart Corporation (Pvt) Ltd can improve their business by concentrating and by improving the

following things.

Managing and motivating a team to increase sales and ensure efficiency;

Managing stock levels and making key decisions about stock control;

Analyzing sales figures and forecasting future sales volumes to maximize profits;

Analyzing and interpreting trends to facilitate planning;

Using information technology to record sales figures and for data analysis and forward

planning;

Dealing with staffing issues: interviewing potential staff; conducting appraisals and

performance reviews; and providing or organizing training and development;

Ensuring standards for quality, customer service and health and safety are met;

Resolving health and safety, legal and security issues;

Responding to customer complaints and comments;

Promoting the organization locally by advertisement in local newspaper and by distribution

the Q-Mart Brusher to the community.

Organizing special promotions, displays and events;

Touring the sales floor regularly, talking to colleagues and customers, and identifying or

resolving urgent issues;

Maintaining awareness of market trends in the retail industry, understanding forthcoming

customer initiatives, and monitoring what local competitors are doing;

Initiating changes to improve Q-Mart, e.g. revising opening hours to ensure the store can

compete effectively in the local market;

Dealing with sales issues.



References

Www.Q-mart.Com

Www.google.com

Financial Statements of Q-Mart Corporations (Pvt) Ltd

Www.wikipidiya.com

www.economic surveyofpakistan.com


http://Www.wikipidiya.com/

http://Www.google.com/

http://Www.Q-mart.Com/


Annexures


Internship Report on Q-Mart

Documents

Transcript of Internship Report on Q-Mart