The corporate exposure and learning program was undertaken at McDowell and company limited. McDowell's consolidated its position as the No.1 Company in the highly competitive Indian spirits industry with a market share of 26%. The company sold 21.22 million cases during the year and has registered a 17% growth in sales. McDowell is the flagship of the UB group spirits division, which controlled 37% of the total of market in the Indian Spirits Industry. This report has been broadly divided in to 2 parts; Part A and Part B. The information about the company was collected through the Internet, Company brochure and Company guide.
Part A of the report is concerned with the general information like industry profile, company profile, and product/service profile. It also deals with the Seven S model of McKinsey and it's relation to the company. The various departments of the company have been studied with respect to 7's Mckinsey model. The company's procedures, rules & regulations with respect to various activities carried out were studied and also went through the company's web site to gather more information
In part B, the topic taken up was "working capital management", which was conducted in McDowell and Company limited and the study was restricted in the one branch i.e. Richmond road in Bangalore. The purpose of this study was to know existing practices, policies and procedures of working capital management. It also shows the comparative analysis of the relative ratios concerned with working capital of McDowell and company limited.
[...] Angus McDowell, after whose name McDowell & Company limited came into being, was a squire of the Dougall ancestry. He started a firm - McDowell, in the northern islands of Gaelic Britannica, which was marketing the finer products of the Industrial Revolution to the Britons staying in various corners of the empire. In India, McDowell had its warehouses situated about a mile to the north of Fort St. George in Madras. From being one of the first names to be associated with the import of wines and spirits into India as early as in 1898, McDowell has now grown to become the country's undisputed leader in the spirits market. [...]
[...] McDowell & Company Limited always moved ahead with a single objective - meeting the ever-increasing demand for high and uniform quality products. Consequently, this world-class Technical Centre at Bangalore was established in 1989 to monitor the quality of each and every product churning out of the company. First of its kind, the Centre has the best technical resources for forefront research, developmental facility and R&D facilities. The centre is at par with the laboratories of the major international liquor companies. [...]
[...] Years Liquid assets Current Ratio liabilities Interpretation: According to the above comparison of the quick ratio of McDowell & company limited it is observed that the company is maintaining its quick ratio above the standard ratio i.e. 1:1. It has a highest ratio of 2.05 in 2002- 03 and lowest of 1.43 in 2000- SHOWING COMPOSITION OF CURRENT ASSETS TO TOTAL ASSETS: This ratio represents the portion of cash balance maintained by the company to the total assets. It indicates the total assets available with the company to pay out its current obligation. [...]
[...] To study the existing practices, policies and procedures followed regarding working capital management in McDowell's &company limited To study the cash management, inventory management and accounts receivables management followed by McDowell's & company limited To study the liquidity of assets used. The ratio relating to the liquidity speaks about how easy the assets can be converted into cash To compare the actual ratios with the standards or ideals To know the operating efficiency of the various assets, by various turnover ratios, operating ratios, the relation between fixed assets and working capital etc To study in details the reasons for ups and downs in working capital position, by studying variations in individual assets To draw valid conclusions and recommendations in this regard To analyze the working capital of McDowell's & company limited ) SCOPE OF THE STUDY: 1. [...]
[...] At McDowell and Company Limited: The spirit division is managed by highly professional headed by a president and deputy president. The division consists of four departments and three marketing companies: Finance and Accounting. Manufacturing. Personnel and administration. Technical and product development. Marketing and sales. The Company's Decision Making is centralized. But Managers have power to take decision regarding regular matters like to ensure operation efficiency for quality. Appropriate decisional authority is delegated to various positions in the hierarchy. Vertical type of communication is entertained and it includes both downward and upward communication. [...]
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