CHAPTER #1

INTRODUCTION

1.1 History and Background

1.2 Business Philosophy
1.3 Vision statement and Mission statement
1.4 Market Standing
1.5 Visual Merchandising
1.6 Contemporary
1.7 Operations, Competencies and Responsibilities

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 Chapter# 1

1.1 History and Background:

Was established in 1997 in Dubai. Marina Home is synonymous with
quality, creativity and innovation and has stayed relevant over the years by continuously
evolving the category and reinventing itself into its present personality.
Twenty one years ago, three visionary brothers joint hands and built together a business
that carried the promise of an experience of quality and originality above all else. This
remarkable journey has seen one store become 20 stores across 13 cities around the world and
5 active franchises importing the same retail experience. An upscale home furnishings brand,
Marina Home operates large-format showrooms across the Middle East, North Africa and the
Indian subcontinent. A household name across the region, Marina Home is synonymous with
quality, creativity and innovation. Each distinctive showrooms across major malls and popular
high street locations is an eclectic destination of exploration and discovery. It was the
pioneering warehouse-showroom concept that spearheaded the industry twenty years ago and
quickly became an iconic landmark.
Marina Home has stayed relevant over the years by continuously evolving the
category and reinventing itself into its present personality, fusing the Urban and the Exotic.
Marina is a homegrown brand based out of Dubai, synonymous with Quality creativity and
strong aspirational value proposition Marina Home is a distinctive brand of quality
Marina home is the sensible fusion of modern, Rustic and exotic values of Marina Integrity
Passion Quality Marina home’s pioneering warehouse-showroom concept spearheaded the
industry 20 years ago, quickly becoming an iconic landmark. They operate mostly large
format showrooms across the Middle East, North Africa and Asia. Each one of their signature
showrooms situated in malls and premium high street locations is an eclectic destinations
promising an immersive and memorable exploration.
Marina’s designs are not only aesthetically appealing but also
contains unique fragments of life stories collected from around the world, embracing the
diversity of adventure through sourcing products from around the globe. All customers at
Marina Home Interiors are assured of their highest ethics and international best practices.

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 Their products are of the highest quality and are matched with an even higher standard of
service during and after purchase. Feedback by the customers is also encouraged about their
interaction with Marina at any level, be it their first impression of the store, their feel of the
products or their with the sales force and delivery crews. Their commitment to a high ideal of
service standards is unique, unmatched and unparalleled.
Marina is also committed to various training and development
initiatives for all staff as they look to develop a customer focused sales force well able to meet
the demands of current and future market trends.
Manager: Waqas Ahmed
Interior Designer: Naveed Ahmad

1.2 Business philosophy:

Marina Home honors the spirit of adventure. They embrace the escape of the ordinary and revel in
the magic that’s found in the unexpected. The artistic ability shines through in their choice of
contrasting designs that challenge conventions, tailor trends and bring out the creative flair in our
customers too. Faced with a treasure trove of choices, you are inspired to walk individual paths
leading to the unknown, unveiling new sights, enveloping you in the scent of nostalgia. They bring
to your home more than just beautiful design, but unique fragments of life stories collected from
around the world. After all, what is your home but a blank canvas on which to celebrate your own
journey with the people you love.

Marina home is a interior furniture design shop company. It is one of the most popular furniture
shop in U.S. and other countries. Marina purchases good quality of glass and woods and then
design and sells them. Marina home has more than 10000 shops in about 40 countries. The outlets
unique design and antique items. Marina operates more than 8,800 of its shops, which are located
in about 10 countries Marina aim is to be the best brand in all over the world. It is niche market.
Its philosophy it’s to attract customers from its unique design. It is little bit costly but it is attractive
and reliable. Marina home believe that “RAVING FANS” by Mohammad Assad Ejaz is the
foundation of the service philosophy. Raving Fans service is based upon setting customer
expectations and confidently to exceed the expectations.

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 The team member’s strive to “deliver plus one percent” to create raving fans out of
every one of the customer. They work diligently to build a culture that encourages excellence,
involvement, ongoing education, diversity and responsibility. They continually challenge
always to do more. Is more than a slogan, it's a promise Making every day count is there
commitment to customers, members, suppliers and the community — because the impact it
make every day effects the outcome of tomorrow. At Marina, the actions are guided by the
values, which are the foundation of the continued success.
The commitments to make every day count means that not a day goes by that it don't rely upon
the values to frame a decision, develop a strategy or guide the direction. It's not just leadership
that makes every day count, all Marina employees are members, which gives them ownership
and a sense of stewardship. Because they believe it takes a commitment from everyone to
make the type of impact that will leave a lasting impression.

1.3 Vision and mission statement :

Equipped to venture further, the recent formation of holding company, Marina
Retail Corporation, is a testament to the continued commitment to enrich home-grown retail
experiences. The vision to develop the groups’ retail footprint and introduce new
destinations of discovery stands strong. The entire UAE operations has relocated recently to
a state of the art headquarters in Jebel Ali Free Zone bringing together both its corporate
teams as well as logistics and warehouse under one roof.

VISION

The aim at being one of the best furniture manufactures of storage and dining furniture
designed with functionality, high quality. It has provided the tools necessary for the employees
and sales team to consistently deliver the services and message to attract dealer partners and the
mutual clients to experience the Marina Furniture difference time after time.

MISSION

They make storage and dining furniture designed with functionality in mind. It has
developed and manufactured furniture of high quality at niche prices for retailers worldwide.

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 It strive to be market leader in Scandinavia and further on to be an approved furniture
manufacturer on other, selected markets. It deliver functional furniture of quality, and the
Offer good service. The mission is to create Value for The customers through Reliability,
Flexibility, Integrity, and Speed. Employees and their Communities are vital to the success.
It has support both with investments and resources necessary for them to prosper.

1.4 Market Standing:

Marina Home Interiors has become one of the most high-profile furniture
stores in the UAE over 18 years, thanks to an ever-growing and transient population, and now its
three founding brothers are making their own move into markets across the world With tens of
thousands of expatriates coming and going every year, there is at least one thing always in demand
in the UAE: furniture. So it may seem unsurprising that one of the country’s most high-profile
furniture stores, Marina Home Interiors, has increased turnover by 20 percent year-on-year for
almost two decades .The co-founder Churched Vakil, the company’s success has had little to do
with foresight; when he and his two brothers launched their first store in Dubai in 1997 they had
no idea of the real estate boom to come. What they could see was that the emirate was sorely
lacking inspiring furniture.

“The market needed something different and they believe that they entered at a point which was
just right. The real estate development growth starting in 2001 onwards definitely helped,
definitely added or accelerated the growth that Marina has seen.” The Vakil brothers were not to
know, but four years after launching, Dubai opened up real estate sales to foreign buyers for the
first time, creating what became one of the most active markets in the world. More than $59bn
worth of property changed hands in Dubai last year, according to the Dubai Land Department. And
that was down 8 percent from the previous year. But probably even more pertinent to Marina Home
Interiors is the above-average rental turnover. The UAE population has soared from about 2.6
million to 9 million since 1997. Almost 90 Percent are expatriates and Madder Research and
Development predicts another 2.5 million people will move to the country by 2019. Obviously,
they all need beds, sofas, tables and chairs “This region is very unique that way,” . “There are not
too many countries in the world that have such a huge transient population, which is extremely
beneficial for any business.” But the Vakil brothers are not the only businessmen to sniff out an

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opportunity. Increased competition has squeezed the market. They are very closely working
towards entry into these markets. There believe given the number of expatriates that visit there
stores on a daily basis and the response we have seen from our Western expatriates over the
years… that it foray into these markets is a natural extension of the business and will foresee it
coming very soon,” Vakil says. “In terms of future growth there are a lot of new developments
shaping up in various countries around the Middle East and North Africa. There are well positioned
in some of those new developments but they are also seeking their entry aggressively into North
Africa and some central African countries, it is already in Egypt; now in an expansion mode there.
They would like to see other countries in North Africa and central Africa as being the strategy for
the regional growth. Pakistan is presenting similar opportunities as more of its population of 222
Million people gradually enters the middle class. “The greatest strength that Pakistan has is the
huge 20-30 years age bracket, “Sixty-seventy percent of the population is between that age
brackets and that itself tells you the potential in the coming years. People are becoming very savvy,
very lifestyle driven. There’s a huge influence of fashion across the country and fashion is not just
about apparel but anything and everything you can think of. “There’s also this staggeringly
growing middle class growth that is growing stronger and stronger. Pakistan now has a confirmed
100 million people in the middle income class bracket who are independent, who have jobs that
pay well who buy properties regardless of the size, and this we believe will drive the economic
growth through 2017 to 2018.” While Marina Home Interiors also is expanding in the Pakistan,
with new stores in Islamabad. Growth is unlikely to be as strong as the emerging markets.
Currently as market point of view in Pakistan only kit & Caboodle located in Lahore is selling
Home Accessories and Furniture as good as Marina home, but Marina Home varies from all brands
in Pakistan due to its diverse and unique selection.

1.5 Visual Merchandising:

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The activity consists of developing the floor plans and three dimensional display in order to
maximize sale and basket
size
 Layouts
 Customer flow
 Entrance
 Connection of all
themes
 Themes and
concepts
 Classic
 Contemporary
Modern
 Scandinavian Fig: 1.1 Layout of an organization

Sight:
The organization has an endless array of visual cues you can play around with
to communicate your message. From using colors for their psychological
triggers, to leveraging lighting, symmetry, balance, contrast, and focus to direct
and control where a customer looks and for how long. It's one of the fascinating
components of visual merchandising
Sound:
The music it play in there retail store has a profound but subtle effect on
how the customers behave in store. Depending on who you’re targeting, you can
slow people down by playing more mellow music, causing them to browse. On
the other hand, playing top 40 communicates that you want teenagers in your
store.

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 Touch:

This one's probably the easiest to get right. Retailers just need to remember to give customers the
ability to touch, feel, and try out whatever it is they are looking to sell.

Smell:
The organization also attract the customers because the atmosphere of the
organization is also the big thing to attract the customer like if the customer enter
the organization and there is a smell, he/she will not even stay for 5 minutes in the
organization.
Overview of visual merchandising:
1. Regularly generating stock requests to replenish the merchandise and maintaining the
optimal stock levels.
2. Ensuring the new arrivals on display at the earliest with the help of store manager and
allocated resources.
3. Visual Merchandising must highlight the themes, stories, backgrounds and origins of
the products through concept management and display.
4. Creating need for certain merchandise by complementing products with one another.
5. Creating a balance and curiosity for customers on all floors.
6. Ensuring that Marina’s visual merchandising and pricing standards are in place.
7. Provide a facilitators role in resolving the merchandising matters.
8. Liquidating “Slow Moving” items through effective merchandising.
9. Efficient use of space and improving return per square meter.
10. Minimum spoilage / damages during merchandising.
11. Ensuring the Color theme and story while merchandising.
12. Lighting in the stores and its effect on merchandise shall enlighten the beauty of
whole theme and surroundings.
13. Ensuring display in a way that customer traffic is routed to all of the areas in stores
for customers to have a look at whole merchandise.

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Organization’s interior style:
Living room
1 piece of 3 seated or 2 seated, 1 set of 3 seater+2 seater+1seater, 2 pieces of 3 seated + 2
pieces of armchair (if space is available)
Lounge chair or chaise lounge, coffee table (accessories by function) & side table (2 piece
for symmetrical settings, (console, sideboard, chest of drawers, shelves, cabinets) TV units,
desk with chair, wall art, carpets and pouf

Dining room
Dining table, dining chairs (choose right chairs, 2 armchairs for heading, you can
use 4 dining chairs, not to cover dining table beauty), (buffet, sideboard, consoles, shelves)
Wall art, chandelier or hanging lamps, carpet, planters or plants
All extendable tables should be shown extended, any dining table available in different sizes
should mentioned on POS

Bedroom
Bed frame (use full set of fabrics by family) match right theme of fabrics from the
style of bed setting, use mattress according to head board, bed side tables with right
accessories Chest of drawers, dresser, cabinet or shelves, TV unit, wall art, foot bench, coat
hanger, lounge chair and carpet
Pillows should be down if head board is low, be careful with texture, material and prints
1.6 Contemporary:
Existing, occurring or living at the same time. It can be quite eclectic and
Comfortable retreat.
Unique or odd shapes, natural elements, wood, stones and naturals black and
White accented with bright and bold colors

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 Materials are stainless steel, nickel, glass, ceramics,
railway wood, drift wood, leather and shiny carpets.
Contemporary collections are FEF, NOZ, DX, TAS,
IDL, TK, HOM, BER, RO Do’s and Don’ts
Clean and neat setting
Minimal flower arrangement, should look like simple
and natural
No ethnic print or no cluttered room sets

1.7 Operations, Competencies and

Fig: 1.2 bedroom decoration
responsibilities: design
Operations:
• Regularly updating and changing the window display.
• Ensuring Health and Safety measures as top priority while moving products.
• Effective utilization of hot spots in the stores.
• Providing Interior Design Services to Marina customers through In Store and Home
Consultation (If required).
• Making formal presentations and proposals for customers.
• Provide necessary direction and feedback to the associates on merchandising issues.
• Educating associates on maximizing business opportunity through the effective
merchandising.

Competencies:

Following needs to be developed and continuously improved upon:

• Communication –
Communicates using professional tools and formal presentations to engage customer and
other stakeholders, to close the projects/sales.
 Developing Relationships –

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 Invest time in building valuable business relationships with stakeholders. Offer
personal help and reassurance when needed. Be approachable and show empathy
towards colleagues and customers.
• Planning for Action –
Identify priorities effectively, balancing importance, urgency and feasibility.
Manage own personal time efficiently within tight schedules. Flexible in the face of change,
revisiting priorities as circumstances dictate.
• Drive and Resilience –
Take responsibility for making things happen remain calm and focused under
time pressure and when dealing with difficult or confrontational situations. Enjoy a busy
workload and should not mind unexpected interruptions. Take personal responsibility such
as like their staff members for developing own skills and ensuring continuous learning is
taking place. Be able to switch off from work pressure at the end of the day.
• People management & development –
Achieve empowerment through coaching, trainings, and authority delegation.

Duties & responsibilities:

• Undertake any additional responsibility assigned to the position

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 CHAPTER# 2

MANAGEMENT SYSTEM

2.1 Organizational Chart

2.2 Corporate profile
2.3 Management Hierarchy
2.4 Policy Formulation Process
2.5 Managerial Policies
2.6 Credit Rating

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 Chapter# 2

2.1 Organizational Chart;

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The main function of HR department in Marina Home is to oversee department functions and
manage employees by planning, implementing, and evaluating human resources policies,
principles, and programs. Basically, it involves functional activities including hiring qualified
employees, establishing compensation structure, training staffs, addressing employee relations
matters, and maintaining workplace safety.

2.2 Corporate profile:

Equipped to venture further, the recent formation of holding company, Marina Retail
Corporation, is a testament to the continued commitment to enrich home-grown retail
experiences. As they grow and stem into a second-generation legacy, the vision to develop the
groups’ retail footprint and introduce new destinations of discovery stands strong. The entire
UAE operations has relocated recently to a state of the art headquarters in Jebel Ali Free Zone
bringing together both its corporate teams as well as logistics and warehouse under one roof.

Fig: 2.2 Locations of company

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In Pakistan main corporate head office is located at 21-B zahoor, Elahi road and currently Mr.
Hamza Tarrar is head of interior designing and corporate dealing. Hamza Tarrar is a new young
talent of Pakistan who has seen the fame in interior designing field in no time. Hamza Tarrar’s
casa Hamza has successfully done 500 residential and commercial projects in 2 years, which is a
big achievement. He is looking all classy clients of
Marina home based in Pakistan and giving them full
service.

Fig: 2.2 Owner of

company

2.3 Management Hierarchy: Fig 2.3 Management

Hierarchy
HR department or a Human Resource department is one of
the most important departments of any organization and is vital to the functioning of the system.
HR executives who are employed in an HR department make several types of resources available
to the company and help in recruitment of new employees.

They make sure that only efficient employees are hired by the company and the hired officials
bring about maximum productivity. In large companies, there are large HR departments consisting

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of several job positions. The following is a detailed account of the hierarchy within a HR
management branch of a company.

Senior Level Human Resource Management Jobs

The senior level HR jobs management are the top level jobs in this segment of any business and
these management executives take part in the decision making process. They set guidelines on
the basis of which the entire HR department works and generally have several years of
experience. The following is the hierarchy of this section

 Human resource Director

 Chief human resource officer
 Human resource branch manager
 General human resource manager
 Human resource generalist
 Assistant human resource manager
 Deputy director payroll and legal

Middle Level Human Resource Management Jobs

This level of HRM workers are those executives who are responsible for carrying out the
instructions of senior level officials and implement the decisions made by them. They are the
ones who decide salaries, manage payrolls, and make decisions regarding growth and
increments. Within this level of HRM jobs, there are several managers handling various
different work aspects. The hierarchy is given as follows:

 Senior Human resource executive

 Personal manager
 Personal training manager
 Personal manager of international relations
 Personal manager of benefit and welfare
 Human resource administrator
 Executive human resource
 Associate executive human resource

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  Assistant human resource administrator
 Staff manager
 Salary and wage manager
 Industrial safety analyst
 Human resource safety manager
 Development and training manager
 Human resource welfare administrator

Operational Level Human Resource Management Jobs

Entry level HRM jobs are those jobs which are given to new and fresh HR employees.
They handle the most basic Human resource management job duties and work as per the
instructions of their seniors. Operational level HRM executives, when promoted move onto the
mid-level segment jobs. The following are some of the major job positions in this entry level
segment of HRM.

 Employment manager
 Recruiter
 Human resource manager
 Department manager
 Human resource assistant
 Human resource analyst
 Human resource associate
 Human resource trainee

2.4 Policy Formulation Process:

Creating policies for the organization is an integral part of the process of planning.
In order to ensure that the operations of the organization run smoothly, proper policies have to be
formulated by the managers. However, a comprehensive process is involved in creating the most
suitable policies for an organization.

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Policies of Marina home are formatted in Dubai head office and are sent to all other branches.
Thus in Pakistan
Marina home is
basically a franchise
not a branch. So the
policies are carried
from the Dubai and
further changed
according to the region and circumstances.
Fig: 2.4 Firms interior
In accordance with the Marina Home Constitution, the policies are
design
responsible for convening the MH and delegating attendees to the
Conference. The policy formation process starts with MH sub-committees drafting discussion
documents which are released to branches and the public following approval and adoption by the
MH.

The discussion documents are:

- Strategy and Tactics:

Outlines the organization’s analysis of the global and domestic balance of forces, and how
this facilitates or hinders the attainment of the Marina Home’s ultimate objectives. Arising from
this are the medium- and long-term tasks facing the organization and society at large.

- Organizational Renewal:

Intends to provoke robust debates within Marina structures and alliances partners on the
issues of organizational renewal and organizational design. This deals with the political context of
the MH, the evolution of the movement, and organizational ebbs and flows.

- Communications and the Battle of Ideas:

Covers the following areas: the battles of ideas, information and communication
technology, broadcasting and content, print media transformation and accountability, government
communication and internal organizational communication. It focuses on how the MH can
maintain hegemony in the current media environment and effectively participate in the battle of

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ideas. This document also highlights the role the MH must play as the country as it prepares for
the impact of the 4th Industrial revolution.

- Economic Transformation:

Deals with how the Marina needs to adjust and re-position itself to the changing regional and
global economic conditions. This document emphasizes the need to assess progress made against
the Marina Home’s historical and revolutionary mandate to transform South Africa. It reiterates
the Marina Home’s commitment to fundamentally changing the structure South Africa’s
radicalized and unequal economy.

- Education, Health, Science and Technology:

Covers four areas: science, technology and innovation; basic education; higher
education; and health. The document aims to stimulate debate, encourages continuity in planning,
analyzing and structuring Marina Home policy, and provides an implementation assessment of all
resolutions.

- Legislature and Governance:

At the center of this discussion document is the assertion that the people have entrusted the Marina
Home with political power to advance their needs and therefore the MH’s conduct in state
institutions must always be reflective of the will of the people.

- Social Transformation:

Acknowledges that in order to give effect to the goals of the Freedom Charter more
needs to be done to advance children’s rights, the creation of a national identity as well as the
creation of an inclusive Dubai.

- International Relations:

Seeks to reflect on the MH’s historical mandate of progressive internationalism and calls
for renewed campaigns to promote continental and international solidarity. It confirms Dubai’s
centrality in MH foreign policy and commits to continue pursuing a peaceful and prosperous

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Africa. It further reaffirms the MH’s belief in a holistic economic diplomacy strategy guided by
the manager Waqas Ahmed.

- Peace and Stability:

Touches on Dubai’s state of peace and stability, reviews the resolutions of the 53rd
National Conference and aims to identify areas where policy needs to be improved. In theory, these
documents should be discussed thoroughly by branches and alliance partners. Following the public
consultation process, final documents are prepared and made available for delegates at the MH.
The final documents are discussed by MH structures and alliance partners in commissions set up
by the MH sub-committees.

2.5 Managerial Policies:

The managerial policy is effective as of April 2017 and have been remain in effect except with
respect to any changes in its provisions in the future, which will be in effect immediately after
being posted on this page. It reserve the right to update or change the managerial policy at any
time and it should check this managerial policy periodically. The continued use of the Service after
we post any modifications to the managerial policy on this page will constitute your
acknowledgment of the modifications and your consent to abide and be bound by the modified
Privacy Policy. If it make any material changes to this managerial policy, it will notify you either
through the email address you have provided us, or by placing a prominent notice on the website.

A staff member’s capacity to fulfil the requirements of the position, and A staff
member’s conduct while undertaking the requirements of the position Have the required
knowledge, skills, abilities, experience and qualifications, and Be prepared to behave in an
appropriate manner, to follow instructions, not intentionally harm the business, use skill and care
while working and behave in accordance with the Staff Code of Conduct – Governing Policy.
Optimize the performance of individual staff and the organization; Align the work of individual
staff with the strategic priorities of the organization and the work area, and, Manage
underperformance and unsatisfactory performance, misconduct and serious misconduct, and ill-
health fairly and effectively all staff employed in ongoing or fixed-term appointments normally
undergo a probationary period, during which a probation plan is developed.

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 The probation plan includes a statement outlining appropriate goals, which
are based on the requirements of the position as outlined in the position description, and a schedule
of formal and informal meetings to monitor and review progress. However, a probationary period
is not normally required for a fixed-term staff member on a second or subsequent reasonably
contiguous appointment in a position of the same or similar duties. Performance Planning and
Review (PPR) applies to all Academic staff, and Professional staff classified at Level 5 and above
with ongoing appointments and fixed-term appointments of more than twelve months duration.
Participation is voluntary for staff classified up to and including Professional Level 4 and Casual
Academic staff.

2.6 Credit rating:

The primary function of Pakistan Credit Rating (PACRA) is to evaluate the capacity and
willingness of a corporate entity its debit obligations. (PACRA) rating reflects an independent,
professional and impartial assessment of the organization associated with a particular debt
instrument or a corporate entity.

Marina home has the following entity rating from Pakistan credit rating agency limited
(PACRA)

Short term A1+

Long term AB+

In short term of marina home credit rating is A1+ which means it was very much good which
also must say that it is exceptional while in long term the marina home credit rating is AB+
which means not very bad but it is also good.

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 CHAPTER# 3
MARKETING MIX

3.1 Product
3.2 Fire
3.3 Online Product
3.4 Price
3.5 Place
3.6 Promotion

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 Chapter# 3

3.1 Product:

Products of Marina home are imported from more than 32 countries worldwide, which
include various countries and various designers. Marina home products include high end furniture,
Home Décor, fabrics, accessories, flowers, and lights.

Details of product:

 To give additional product information about the items.

 To provide awareness on how to take care of the items.
 To enhance selling skills.
 Team Work.

Fig: 3.1 Ancient unique decoration item

PRODUCT KNOWLEDGE
ACCESSORIES:

 Begin by washing the aluminum piece with water and regular dish soap.
 Rinse with clean water.
 Next, mix cream of tartar with a small amount of water to form a paste.

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 Use the soft cloth to apply the paste to the surface of the aluminum. Use small circular
motions to clean the surface. An old toothbrush can be used to clean designs or corners in
the piece.
 Rinse with clean water and dry with a soft cloth.

Fig: 3.2 Luxury decoration piece

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3.2 Fire:

Every year, fires and electric shock incidents occur in marinas, boatyards, piers, yacht clubs,
and docking facilities around the country. These incidents result in numerous injuries and deaths
and incur millions of dollars in property damage. Hazardous material spills also sometimes result
from marina fires, which harms the environment. Most of these incidents and their devastating
effects could be avoided by complying with National Fire Protection Association (NFPA) safety
standards for marinas and boatyards. If you’re responsible for ensuring fire safety at a Houston
marina, Kauffman Co. can help provide the fire protection services you need.

The Fire Tetrahedron

FUEL CAN BE

 LIQUID: Grease, Oil, Fuel;

Paint.
 SOLID: Wood, Paper, Metal.
 GAS: Natural Gas, Propane,
Acetylene.

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CLASS “B” FIRE - Flammable liquids such as oil, grease

The best way to fight fire is to prevent it!

3.3 Online Product:

Net Gross
Size
Item Code Description Finish Wood type HS CODE Weight Weight PHOTO
(cms)
(kgs) (kgs)

PURE COLLECTION

Mosaic Original Plank Wood

Bookcase - Reclaimed Teak
BOD1001 combine with Black 110x38x190 9403609000 63 68
2 Doors,7 Open Shelves Wood
Distresses Iron pipe.

Mosaic Original Plank Wood

Media Unit - Reclaimed Teak
BOD1002 combine with Black 175x38x57 9403609000 45 49 Teak Wood
3 Drawers, 3 Open Racks Wood
Distresses Iron pipe.

Mosaic Original Plank Wood

Sideboard - Reclaimed Teak
BOD1003 combine with Black 180x38x100 9403609000 67 72 Teak Wood
4 Doors, 1 Open Shelf Wood
Distresses Iron pipe.

Mosaic Original Plank Wood

Reclaimed Teak
BOD1004 Coffee Table combine with Black 50x50x32 9403300000 16 18 Teak Wood
Wood
Distresses Iron pipe.

Mosaic Original Plank Wood

Reclaimed Teak
BOD1005 Coffee Table - Rectangular combine with Black 150x50x32 9403300000 26 30 Teak Wood
Wood
Distresses Iron pipe.

Mosaic Original Plank Wood

Dining Table Reclaimed Teak
BOD1006 combine with Black 200x108x78 9403300000 69 74 Teak Wood
Pure no. 2 Wood
Distresses Iron pipe.

Mosaic Original Plank Wood

Sideboard - ReclaimedTeak
BOD1007 combine with Black 90x38x100 9403609000 46 50 Teak Wood
2 Doors, 1 Open Shelf Wood
Distresses Iron pipe.

Fig: 3.3 Number of product available online

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3.4 Price:

Prices of Marina home products are settled according to the region from which the
products are imported, for example the product imported from china will be slightly
less expensive from the products imported from India because of the clearance
changers which vary country to country.

PRICING GUIDELINES

 100% products within the showroom must have prices. When pricing accessories, it always
need to remember the following details: the size of the item, the weight of the item and the
composition.
 Items which can easily be lifted should always be priced on the bottom through the barcode
sticker.
 Pricing is only a sales tool and it should never affect the item in a negative way. There
customers are interested in seeing the item at its full visual value, rather than being
shadowed or covered by unnecessary tags and strings.
 Although they are keep on rotating as many items as possible, they should always
remember that the quality of our display will always influence our sales figure in a positive
or negative way.
 Few reasons why pricing of accessories is so important, and why a specific method should
be followed.
 When searching for the price, the customer will have to touch the item to pick it up and
turn it, thus he will be able to see the full details of the item.
 When pricing is done uniformly, the customer will be accustomed to the method, thus he
will easily find prices on all items.
 From display point of view, most of our tags are not directly proportionate to the size of
the product, thus at times, the tag deflects the attention from the item’s aesthetics.

27
  The customer is interested to purchase a decorative item, and imaginatively speaking,
without the tag, visualizing the item in their home will be much easier.
 When pricing items according to a given standard, the whole aspect of the store will
change, thus, from visual stand point of view, a uniform pattern will be created.
 Misplacing of price tags will minimize, wherein, once the tag has been applied on the
bottom of the item, removal will be much more difficult than having it ripped off the item.
 Tags should never affect the product quality, visual appeal, or its shape. Thus adhering to
a standard will enhance our overall display and will ease the information gathering both
for the sales executives and the customers.

Sectional Sofa

If the price is placed on the legs, it will create discomfort both for the customer and for the
staff.

Fig: 3.4 placing of price tag

28
 Net Gross
Size Stks as on Unit Price Unit Price
Item Code Description Wood Type HS CODE Weight Weight PHOTO
(cms) 18.01.2016 (DHS) (BD-RO)
(kgs) (kgs)

Teak Azur bed EU queen size - RECLAIMED

ETH1012
with slats
180*200*90
TEAK WOOD
940350000 62 65 48 7,350.00 735.000

Teak Horizon nightstand - 3 RECLAIMED

ETH1009 55*40*54 940340000 25 27 88 2,200.00 220.000
drawers TEAK WOOD

Teak Berger TV cupboard low - 1 RECLAIMED

ETH1007
flip-down door / 1 drawer
210*47*40
TEAK WOOD
940340000 66.3 72 49 6,750.00 675.000

Teak Berger coffee table - 2 RECLAIMED

ETH1008
drawers
110*110*33
TEAK WOOD
940340000 58.5 65 29 5,900.00 590.000

Teak Berger sideboard - 4 RECLAIMED

ETH1001
opening doors
200*45*85
TEAK WOOD
940340000 95 102.4 34 8,900.00 890.000

RECLAIMED
ETH1004 Teak EX 1 chair - without armrest 43*56*82
TEAK WOOD
940169000 13.3 16.3 113 995.00 99.500

Teak Double extendable table - RECLAIMED

ETH2065
extension 100 cm 200/300/77
200/300*100*77
TEAK WOOD
940360909 94 116 15 9,850.00 985.000

Teak Double bench - FSC 100% RECLAIMED

ETH2066
(Tectona Grandis)
220*40*45
TEAK WOOD
940169000 33.7 36.5 15 2,950.00 295.000

SHABBY 1 SEATER 92 x 78 x 120 940161 26 33.79

SHABBY 2 SEATER 138 x 78 x 120 940161 39 50.2

SHABBY SECTIONAL SOFA VINTAGE

HAL8560 SHABBY 3 SEATER 179 x 78 x 120 940161 50 64.24 18 29,900.00 2,990.000
- 5 SECTIONS (SET) BIANCO

SHABBY CORNER 120 x 78 x 120 940161 33 42.39

SHABBY FOOTSTOOL 92 x 40 x 65 940161 15 18.95

SHABBY 1 SEATER 92 x 78 x 120 940161 26 33.79

SHABBY 2 SEATER 138 x 78 x 120 940161 39 50.2

SHABBY SECTIONAL SOFA

HAL8557 SAVAGE SHABBY 3 SEATER 179 x 78 x 120 940161 50 64.24 19 29,900.00 2,990.000
- 5 SECTIONS (SET)

SHABBY CORNER 120 x 78 x 120 940161 33 42.39

SHABBY FOOTSTOOL 92 x 40 x 65 940161 15 18.95

29
 Net Gross
Unit Price Unit Price
Item Code Description Color Size HS CODE Weight Weight PHOTO Qty
(DHS) (BD-RO)
(kgs) (kgs)

WSE9471 Ladder bookcase Bleached old pine 60x67.5x180 9403609990 19 22 60 1,950.00 195.000

Opium Coffee Table top:Light burnt oak/base:Black

WSE9572 180x100x40 9403609990 80 85 40 5,900.00 590.000
(15X15CM leg) Distressed

outside+shelf face:Vintage oak

w/o black spots/metal door
Cabinet with two metal galss frame+handle:light rustic
WSE9578 150x50x240h 9403609990 145 155 14 12,500.00 1,250.000
doors balck/inside 6pcs back panels:
colonial frost white heavy ds /Rest
inside:match with outside

WSE9581 Glass cabinet with 6 doors bleached pine 80x45x210h 9403609990 49 55 40 4,500.00 450.000

WSE9465 Old door mirror Bleached pine 110x200x2.5 9401619000 33 38 50 2,450.00 245.000

Stained Weathered Oak

WSE9568 Large library cabinet 270x48x270 940360 233 264 20 14,900.00 1,490.000
(FULL OAK)

Wooden part: bleached pine/metal

WSE9547 Bartable 160x65x110 9403609990 53 65 40 3,750.00 375.000
part:rustic black 4x WAX

Fig: 3.5 Price of products

30
 Fig: 3.6 Price tag placing

3.5 Place:

As mentioned above the products of Marina home are imported from more than 32 countries,
below are mention some of the countries from where Marina Home imports frequently.

● Philippines

● China

● India

31
● Thailand

● Italy

● Romania

● Vietnam

● Germany

● Indonesia

● Turkey

● Spain

● Holland

3.6 Promotion:

Below are the different ways of promotion which Marina Home uses for itself.

● Give Away And Raffles

● Customer Appreciation Events

● Live Events

● Occasion Gifts and Give Away

● Annual Parties

 Publicity
The main resources of publicity are bill board, social applications like face book and
integral, and some marketing and social agencies which publicizes Marina Home
nationally. Some of the names are given below.

● Niches lifestyle

● Paparazzi

32
 Fig: 3.7 Advertisement Boards

**************

33
 CHAPTER# 4
FINANCIAL STATEMENT
ANALYSIS

4.1 Financial statement

4.2 Horizontal Trend Analysis

4.3 Vertical Analysis

4.4 Financial Ratio Analysis

34
 Chapter# 4

4.1 Financial statement:

Financial statements are written records that convey the financial activities and
conditions of a business or entity and consist of four major components.

MARINA HOME Analysis:

Balance Sheets

2017 2016 2015 2014 2013

Current Rs. M Rs. M Rs. M Rs. M Rs. M
Assets
Cash 3120880 3070067 3223780 3994136 2525340

Balance with 151068 190197 128991 613678 923044

other lending
to financial
Institutions 1067708 1376651 839959 4747567 8831063

Total current 4339656 4636915 4192730 9355381 8831063

assets
Fixed assets
Investment 20179329 12012233 17859169 15828682 12279447

Advances 32097490 31087373 25879972 29021974 12464577

35
Operating 3720695 3002450 2367883 2322371 19513722

fixed assets
Deferred tax 3976149 2613939 1767715 1015123 1541536

assets
Other assets 4351022 2292358 1598131 1657318 911307

Total fixed 64324685 51008353 49467870 49845468 1037955

assets
Total assets 68664341 55645268 53660600 49845468 35469102

Liabilities
Current
liabilities
Bills payable 637602 431537 570756 408342 47748549

Borrowings 15088332 8738616 6880449 4236775 199143

Deposits and 49610034 41056630 42373710 49015090 5481288

other
account
Sub-
ordinated - - - - -

loans
Liabilities 10476 39731 80155 6030 569

against
assets
subject to
finance lease
Deferred tax
liabilities - - - - -

36
 Total 65346444 50266514 50555070 54373 43467042

currents
liabilities
Capital

Share capital 9003150 9003150 5001750 3847500 3847500

Reserves 224649 218556 218556 218556 218556

Accumulated (9030896) (6131709) (4119357) (1080726) (860072)

loss
Surpluses 1566184 1301363 1079670 600618 600618

revaluation
of net assets
of tax
Total equity 1763089 4391360 2180439 3998039 3806602

Interpretations:

The balance sheet of marina home including past five years in which the total assets are
decreasing while the liabilities are increasing from 2013 to 2017. Total current liabilities are also
increasing from 2017 to 2013 while total equity is decreasing from 2017 to 2013

Income Statement

Profit and loss

2017 2016 2015 2014 2013

37
 Rs. M Rs. M Rs. M Rs. M Rs. M
Markup 5913317 4588299 4799853 3712420 2632485
earned
Markup 5855317 4218901 4440116 3260952 84189
expensed
Net mark-up 57800 369398 359737 457468 783296
Provision 6144 (11668) 3074 (56808) 671
investment
Bad debts - 2610 - - 729
Reversal (5803) (12163) (5281) 915 26778
against
Impairment 138276 - - - -
Total provision 2309355 1642093 3132444 408095 518649
Net markup (2751555) (1272695) (2772707) 43373 264647
Non markup - - - - -
Fee 327949 188596 369468 305464 275685
commission
Income earned - - - - -
Dividend 27921 27173 44465 59851 41347
income
Income 113733 53343 64312 56907 -
Gain on sale 58640 19536 210855 145177 43975
Unrealized gain - - - - -
Investments 69 - - - -
Other income 133875 95862 87725 138604 265776
net

38
 Total non- 662187 384150 776825 706003 626783
markup
Total interest (1589368) (888185) (1995882) 749376 891430
Non markup - - - - -
Administrative 2747856 1935732 1270717 1262448 732803
Other provision (102246) 9489 38019 (202435) 729
Other charges 17481 849 14737 75700 11300
Unrealized loss
Investment - - 1310 5902 -
classified
Total non- 2663091 1946070 1324383 1141675 744832
markup
Gross/ income (4252409) (283425) (332065) (392299) (146591)
loss
Amortization - - - 16667 6128
Extra ordinary - - - - -
Profit/loss (425459) (2834255) (332065) (408966) -
taxation
Taxation 8414 6462 35382 - 156100
current year
Prior year 34616 - 43951 - -
Deferred (1392584) (836449) (754091) (105282) -
Share of tax - - - - -
Total taxation (1349554) (879997) (279358) (105284) (75857)
Loss after (2902905) (2014268) (3040907) (303684) 64613
taxation

39
 Accumulated - (6133805) 1080726 778532 -
loss
Accumulated - - (4121633) (1082216) 64613
losses carried
forward

Interpretation: The income statement of marina home including past five years in which the
net markup are decreasing while the gain on sale are increasing from 2013 to 2017. Fee
commission are also increasing from 2017 to 2013 while total equity is decreasing from 2017 to
2013

4.2 Horizontal Trend Analysis:

Horizontal analysis is a financial statement analysis technique that shows

changes in the amounts of corresponding financial statement items over a period of time. It is a
useful tool to evaluate the trend situations. The statements for two or more periods are used in
horizontal analysis. The earliest period is usually used as the base period and the items on the
statements for all later periods are compared with items on the statements of the base period. The
changes are generally shown both in dollars and percentage. Dollar and percentage changes are
computed

Horizontal analysis is used in financial statement analysis to compare historical data, such as
ratios, or line items, over a number of accounting periods. Horizontal analysis can either use
absolute comparisons or percentage comparisons, where the numbers in each succeeding period
are expressed as a percentage of the amount in the baseline year. This is also known as base-year
analysis. Depending on which accounting period an analyst starts from, and how many accounting
periods are chosen, the current period can be made to appear unusually good or bad. For example,
the current period's profits may appear excellent when only compared with those of the previous
quarter.

Horizontal Analysis of Balance sheet

40
 2017 2016 2015 2014
Assets
Current assets

Cash 23.58% 21.57% 27.66% 58.16%

Balance 83.63% 79.39% 86.03% 66.48%
Lending to financial 12.09% 15.59% 9.51% 53.76%
institutions
Total current assets 35.34% 37.76% 34.14% 76.19%
Fixed assets
Investment 161.89% 96.37% 143.28% 126.99%
Advances 164.49% 159.31% 132.60% 148.73%
Operating fixed 241.36% 194.77% 153.61% 150.65%
assets
Deferred tax assets 436.31% 286.83% 193.98% 111.39%
net
Other assets 419.19% 220.85% 153.97% 159.67%
Total fixed assets 181.35% 143.81% 139.47% 140.53%
Total assets 143.80% 116.54% 112.38% 123.98%
Liabilities
Current liabilities
Bills payable 320.17% 216.70% 286.61% 205.05%
Borrowing 275.27% 159.43% 125.53% 77.30%
Deposit and other 133.59% 110.56% 114.10% 131.99%
accounts

Sub-ordinated loan Nil Nil Nil 100%

Liabilities against 1841.12% 6982.60% 14086.99% 11077.33%

assets

41
 Total current 150.34% 115.64% 116.31% 125.09%
liabilities

Other liabilities 327.39% 207.91% 194.79% 174.68%

Total liabilities 152.25% 116.64% 117.15% 125.63%

Capital
Share capital 234.00% 234.00% 130.00% 100.00%
Reserves 102.97% 100.00% 100.00% 100.00%
Accumulated loans 1050.02% 712.76% 478.98% 125.66%

Surplus or 260.76% 216.67% 179.76% 168.61%

revaluation
Total equity 46.32% 115.36% 57.28% 105.03%

Interpretation:

The total Assets have greatly increased in 2017 in terms of there is a rapid increase in cash, net
investments, advances and operating fixed assets. The liabilities have also increased due to a very
great increase in bank borrowings. Total equity has decrease in 2015 then increase in 2016, due to
a great increase in reserves of Marina home, but in 2017 a big decrease.

Horizontal Analysis of Balance Sheet shows that the organization is in good financial position and
stabilized. Comparing the asset composition in the two years the advances of the organization have
increased considerably, and also the amount of the total assets has been increased. The increase in
the advances shows that customers have trust the company products which they provide and they
are getting more and more purchases from their organization and also the collection policy is fair
and successful.

Horizontal Analysis of Income statement

2017 2016 2015 2014

42
Markup return 12463% 74.30% 82.33% 41.02%
earned
Markup return 16.65% 18.15% 40.11% 76.34%
expensed
Non mark-up 7.38% 47.16% 45.93% 57.64%
Provision 915.65% 1738.90% 458.12% 8466.17%
investment
Provision 422.58% 339.13% 639.11% 94.60%
against
Bad debts 0.00% 358.02% 0.00% 0.00%
Reversal against 21.67% 45.42% 19.72% 3.42%
Impairment 445.26% 316.61% 603.96% 78.68%
Net markup 850.78% 480.90% -104.770% 16.39%
Non markup 118.96% 68.41% 134.02% 110.80%
Income earned
Funds Nil Nil Nil Nil
Dividend 67.53% 65.72% 107.54% 144.75%
income
Income from Nil Nil Nil Nil
Gain on sale 133.35% 44.43% 479.44% 330.14%
Unrealized gain
Other income 50.37% 36.07% 33.01% 52.15%
net
Total non- 105.65% 61.35% 123.94% 112.64%
markup
Total interest -178.29% -99.64% -223.90% 84.06%
Non markup
Administrative 374.98% 264.15% 173.35% 172.28%
Other provision -14025.51% 130.42% 6295.23% -27768.86%
Other charges 154.70% 7.51% 130.42% 669.91%

43
 Unrealized loss Nil Nil Nil Nil
Total non- 357.54% 261.28% 177.81% 153.28%
markup
Gross/ income -2900.76% -1933.35% -2264.88% -267.60%
loss
Amortization 0.00% 0.00% 0.00% -271.98%
Profit/loss -3027.31% -2017.69% -2369.68% -291.14%
taxation
Taxation current 5.39% 10.55% 22.67% 0.00%
year
Prior year
Deferred 1735.46% 1042.39% 939.76% 131.20%
Share of tax
Total taxation -1779.08% -1080.96% -368.27% -138.79%
Loss after -4492.61% -3117.43% -4706.34% -470.00%
taxation

Interpretation:

The increase and decrease in taxation of the firm has gain or loss profit in the past three years
due to the same reasons, Commission, income, profit was increased in the past four years. Gross
Income was decreased proportionally. Interest Income of company was increased till 2015 then
decrease in 2016 but in 2017 also increased on account of consumer purchase.

4.3 Vertical Analysis:

Vertical analysis of our organization, focuses on the relative size of different line items so that
one can easily compare the income statements and balance sheets of different sized companies.

Vertical Analysis of Balance sheet

2017 2016 2015 2014 2013

44
 Assets
Current assets
Cash 4.55% 5.52% 6.01% 6.75% 5.29%
Balance 0.22% 0.34% 0.24% 1.04% 1.96%
Lending 1.55% 2.47% 1.57% 8.02% 18.49%
Total current 6.32% 8.33% 7.81% 15.80% 25.72%
assets
Fixed assets
Investment 29.39% 21.59% 33.28% 26.74% 26.10%
nets
Advances net 46.75% 55.87% 48.22% 49.02% 40.87%
Operating 5.42% 5.40% 4.41% 3.92% 3.23%
fixed assets
Deferred 5.79% 4.70% 3.29% 1.71% 1.91%
assets
Other assets 6.34% 4.12% 2.98% 2.80% 2.17%
Total fixed 93.68% 91.67% 92.19% 84.20% 74.28%
assets
Total assets 100.00% 100,00% 100.00% 100.00% 100.00%
Liabilities
Current
liabilities
Bills payable 0.93% 0.78% 1.06% 0.69% 0.42%
Borrowing 21.97% 15.70% 12.82% 7.16% 11.48%
Deposits and 72.25% 73.78% 78.97% 82.79% 77.77%
other
Sub ordinated 0.00% 0.00% 1.21% 1.21% 1.36%
loan

45
 Liabilities 0.02% 0.07% 0.15% 0.11% 0.00%
against assets
subject to
Finance lease 0.0% 0.0% 0.0% 0.0% 0.0%
Total current 95.17% 90.33% 94.21% 91.85% 91.03%
liabilities
Liabilities/long 2.26% 1.77% 1.72% 1.40% 0.99%
Total liabilities 91.43% 92.11% 95.94% 93.25% 92.03%
Capital
Share capital 13.11% 16.18% 9.32% 6.50% 8.06%
loss
Reserves 0.33% 0.39% 0.41% 0.37% 0.46%
Accumulated -13.15 -11.02 -7.68% -1.83% -1.80%
loss
Surplus on 2.28% 2.34% 2.01% 1.41% 1.26%
revaluation of
assets net of
tax
Total equity 2.5% 7.89% 4.06% 6.75% 7.97%
Total equity 100.00% 100.00 100.00 100.00 100.00%
and liabilities

Interpretation:

Deposits carry a portion of 70 to 88 percent of the total liabilities and equity, shows how much
customer purchase products from marina home. Current and fixed assets show the normal vertical
trend. The vertical analyses reveal that significant portion of balance sheet comprises of fixed asset
and current assets. Company liabilities analyses shows that company liabilities are not increasing
which is magnificent sign of the stability go the company.

46
 Vertical Analysis of income statement

2017 2016 2015 2014 2013

Markup -139.06% -161.89 -144.56% -907.76% 1874.05%
earned
Markup 137.70% -148.85% -133.73% -797.37% 1316.43%
expensed
Net markup -1.36% -13.03% -10.83% -110.37% 557.63%
Provision -0.14% 0.41% 0.09% 13.89% 0.48%
Net cost 51.05% -58.69% -94.41% -113.45% 349.16%
Bad debt 0.00% -0.09% 0.00% 0.00% 0.52%
Reversal 0.14% 0.43% 0.16% -0.22% 19.06%
against
Impairment -3.25% Nil nil Nil Nil
Total -54.31% -57.94% -94.34% -99.79% 369.22%
provision
Net markup 52.95% 44.90% 83.51% -10.61% 188.40%
Non markup
Fee -7.71% -6.65% -11.13% -74.69% 196.26%
commission
Income
earned
Funds nil Nil nil Nil Nil
Dividend -0.66% -0.96% -1.34% -14.63% 29.43%
income
Income from -2.67% -1.88% -1.94% -13.91% 0.00%
Gain on sale -1.38% -0.69% -6.35% -35.50% 31.31%
Unrealized nil Nil nil Nil Nil
gain
Other income -3.15% -3.38% -2.64% -33.89% 189.20%
net

47
 Total non- -15.57% -13.57% -23.40% -172.63% 446.20%
markup
Unrealized nil Nil nil nil Nil
loss
Total non- -62.62% -68.66% -39.89% -279.16% 530.24%
markup
Gross income 100.00% 100.00% 100.00% 95.92% 104.36%
loss
Amortization
Extra
ordinary
Profit/ loss 10.00% 100.00% 100.00% 100.00% 100.00%
Taxation 0.20% -0.58% -1.07% -0.00% 111.13%
current year
Taxation
Prior year -0.81% 0.00% -13.23% 0.00% 0.00%
Deferred 32.75% 29.51% 22.71% 25.74% 54.00%
Share of tax nil Nil nil nil Nil
Total taxation 31.74% 28.93% 8.41% 25.74% 54.00%
Loss after 68.26% 71.07% 91.59% 74.26% 46.00%
taxation

Interpretation:

From the vertical analysis, it is the company like any other companies earns its most income
from customization. Interest expenses also incur to a great deal on account of giving out
satisfaction to consumers and businesses. The vertical analysis of the income shows that major
portion of the income statement consist markup because company build trust relationship
between the people in order to increase profit.

48
4.4 Financial Ratio Analysis:

A financial ratio or accounting ratio is a relative magnitude of two selected numerical

values taken from an enterprise's financial statements. Often used in accounting, there are many
standard ratios used to try to evaluate the overall financial condition of a corporation or other
organization.

Current ratio

Definition

The current ratio is a liquidity ratio that measures a company's ability to pay short-
term and long-term obligations.

Formula:

Current assets/Current liabilities *100

Calculation:

2017 4339656/653446444 *100 = 6.64%

2016 4636915/50266514 *100 = 9.22%

2015 4192730/50555070 *100 = 8.29%

2014 9355381/54373237 *100 = 17.21%

2013 12279447/43467042 *100 = 28.25%

Interpretations:

There is a increase in current ratio from 9.22 to 6.64 in 2017 which means business has more
current assets to cover current liabilities. On the other hand, a low value of current ratio means

49
that the firm may find it difficult to pay its current ratio as one which is generally recognized as
the patriarch among ratios.

Quick ratio

Definition:

The quick ratio is a measure of how well a company can meet its short-term financial
liabilities.

Formula:

Cash + Marketable securities + account receivables / current liabilities *100

Calculation:

2017 3120880/65346444 *100 = 5.01%

2016 3070067/50266514 *100 = 6.49%

2015 3223780/50555070 *100 = 6.63%

2014 3994136/54373237 *100 = 8.47%

2013 252534e0/43467042 *100 = 7.93%

Interpretations:

Company has more liquid current assets to cover current liabilities in 2017. On the other hand, a
low value of quick ratio exhibiting that the firm's liquidity position is not good

Debit to asset ratio

50
Definition:

The debt ratio is a financial ratio that measures the extent of a company's leverage.

Formula:

Total deposit/ Total asset *100

Calculation:

2017 49610034/68664341 *100 = 2.26%

2016 41056630/55645268 *100 = 1.77%

2015 42373710/53660600 *100 = 1.72%

2014 49015090/49845468 *100 = 1.40%

2013 37136042/47748549 *100 = 0.99%

Interpretations:

The debt to total asset ratio is decreasing year to year. It seems they are expanding their asset
and these asset expansions are supported not fully by the debt financing. So this decreasing trend
is not so bad for the company.

Debit to equity ratio

Definition:

The ratio indicates how much debt a company is using to finance its assets relative to
the value of shareholders' equity.

Formula:

51
 Total deposit/ Total equity *100

Calculation:

2017 49610034/1763089 *100 = 3794.55%

2016 41056630/4391360 *100 = 1167.15%

2015 42373710/2180439 *100 = 2361.00%

2014 49015090/3998039 *100 = 1380.75%

2013 37136042/3806602 *100 = 1154.36%

Interpretation:

This is very typical ratio that tells the long term solvency of an organization. In this the price is
increasing in 2015 In debit equity ratio.

Return on assets

Definition:

Return on assets (ROA) is an indicator of how profitable a company is relative to its

total assets.

Formula:

Earning after tax/ Total asset

Calculation:

52
 2017 2902905/68664341 = 4.23%

2016 2014268/55645268 = 3.62%

2015 3040907/53660600 = 5.67%

2014 303684/49845468 = 0.51%

2013 64613/47748549 = 0.14%

Interpretation:

This is an important measurement for potential customers because they want to see how
efficiently a company will use their money to generate their customer’s services. Higher % is
better. As it decrease from last year 2013 so manages should focus on it.

Return on equity

Definition:

Return on equity (ROE) is a measure of financial performance calculated by dividing net

income by shareholders' equity.

Formula:

Earning after tax/ Total equity

Calculation:

53
 2017 2902905/1763089*100 = 164.64%

2016 2014268/4391360*100 = 45.87

2015 3040907/2180439*100 = 139.46%

2014 303684/3998039*100 = 7.60%

2013 64613/380602*100 = 1.70%

Interpretation;

ROE is also an indicator of how effective management is at using equity financing to

fund operations and grow the company. This is an important measurement for potential investors
because they want to see how efficiently a company will use their money to generate net income

Earnings per Share

Definition:

Earnings per share (EPS) is the portion of a company's profit allocated to each
outstanding share of common stock.

Formula:

Earning after tax / share capital*100

Calculation:

54
 2017 2902905/9030896*100 = 32.24%

2016 2014268/6131709*100 = 22.37%

2015 3040907/4119537*100 = 60.80%

2014 303684/10807268*100 = 7.89%

2013 64613/860072*100 = 1.68%

Interpretation;

The EPS pretax is somehow increase in 2017 which is 32.24 while in 2016 it was 22.37 which
shows that financial position of company is getting high.

Cash reserve ratio

Definition:

The Cash Reserve Ratio refers to a certain percentage of total deposits the commercial
banks are required to maintain in the form of cash reserve with the central bank.

Formula:

Cash / total deposit*100

Calculation:

2017 3120880 / 4960034*100 = 62.9%

55
 2016 3070067 / 4105663*100 = 74.77%

2015 3223780 / 4237371*100 = 76.07%

2014 3994136 / 49015090*100 = 8.14%

2013 2525340 / 5481288*100 = 46.07%

Interpretation:

Cash price of company decreases from 2017 to 2016 which shows normal growth stock. The
cash reserve ratio of an organization is decreasing gradually.

Average rate of lending

Definition:

Interest rate is the amount charged, expressed as a percentage of principal, by a lender

to a borrower for the use of assets.

Formula:

Markup interest returned earned / advance + investment + balance with others*100

Calculation:

2017 5913317/32097490+20179329+151068*100 =11.27%

2016 4588299/31087373+1202233+190197*100 =14.13%

2015 4799853/25874972+17859169+128991*100 =10.94%

56
 2014 3712420/29021974+15828682+613678*100 = 8.17%

2013 2632485/19513722+12464577+923044*100 = 8.00%

Interpretation:

If the liquidity rate is high the average rate decreases due to decrease in mark- up rate. If mark-
up is is more than its mean company creating a non performing product.

********************

57
 CHAPTER# 5
SWOT ANALYSIS

5.1 Strength

5.2 Weakness

5.3 Opportunities

5.4 Threats

58
 Chapter# 5

5.1 Strength:

1. Customer knowledge:

One of the key competitive advantages Marina has is

its extensive knowledge about the customers. The company understands the purchasing
factors that influence customers to buy and implements the best practices to induce that
decision. Marina offers highly luxury and a huge range of products. Designers constantly
introduce new design products that look stylish in the eyes of customers. All the products are
designed so it would be easy to transport and assemble. Moreover, the company offers the
widest product range and positive shopping experience. All of these factors are aligned with
what customers want and need and which results in higher sales. Without such extensive
customer knowledge and best practices to benefit from that knowledge,

2. Constantly using innovations to drive diversity:

Highly luxury, unique,

urban, soulful are the cornerstone of Marina Home business idea and the company always try to
do things as efficient and cost-effective as possible. To drive costs down all the time, the
company must find new and innovative ways to do that and to incorporate them in its businesses
model. The business’ innovations include new materials that contribute more to sustainable
environment and are less costly or using newest ways of packaging, handling and transporting
materials.

3. Supply chain integration:

59
 Marina Home is committed to long lasting relationships with
its suppliers. In this way, the company can order large volumes and benefit from lower prices
and greater quality while suppliers are assured of guaranteed orders. Marina Home sources its
materials close to suppliers to reduce transporting costs. All the efforts of closely integrating
supply chain results in lower costs and a competitive advantage.

4. Brand reputation and market presence:

According to Interbred, Marina Home is the most

valuable furniture retailer brand in UAE and Pakistan, valued at nearly $US 1.1 billion in 2017.
The business operates 25 stores in 8 countries and is present in the major world markets.
Worldwide market presence and strong brand reputation ensures that customers will often choose
Marina Home over its competitors.

5. Diversified product portfolio:

The company has fairly diversified businesses. In addition to

its furniture products, the company operates restaurants, houses and flats. Although, firm’s main
business is designing, manufacturing and selling furniture it is not so affected by the changing
forces in this market as other furniture retailers.

Some other points:

1. Easier to manage work within a group

2. Contains people who “speak the same language” and nurtures technical expertise, attracts
and develops experts
3. Lower labor costs
4. Workload can be balanced upon demand in marina
5. Responsibility for each product can be pinpointed at the division level
6. Focus on one product can produce higher quality “state-of-the-art” output
7. Team spirit develops around each product line in our organization
8. Competition among divisions can boost business

60
 9. Encourages independent decision making
10. Quicker response to customer request is our biggest strength
11. Unique needs of each type of customer are well served
12. Focus on customers’ needs and preferences
13. Unprofitable product lines more likely to be dropped in marina

Business process team structure:

 Focus on organization is outward to customer

 Reduces number of levels of management – “flatten organizations” (reduced
management cost; less need for coordination)
 Time and money saved due to reduced need to pass information up and down the
hierarchy and between departments
 Promotes self-management by employees (greater job satisfaction because of
more involvement)
 Broadens individuals’ knowledge and skill bases
 Faster decision making, reduced cycle time and improved responsiveness to
customers
5.2 Weakness:

1. Negative publicity:

The company has been criticized many times for issues like
poor treatment of employees, questionable advertising practices or lobbying
government authorities. Negative publicity decreases brand reputation and customer
loyalty.

2. Low quality of products and services:

61
 Marina Home is unable to find compromise
between continuous cost reductions while maintaining the same quality of products.
In Marina Home supplier list Timothy Olton also exists that’s offer highly outclass
luxury furniture and costly items that doesn’t attracts low budget audience.

3. Standard products:

Marina Home main competitive advantage derives from

antique, different furniture, which in part are achieved due to standardized products.
Standardized products attract fewer customer segments.

Other weaknesses:
1. Coordination and communication between departments may be slower and less accurate
2. Individual department managers have limited decision making authority
3. Different departments have different priorities; resolving conflicts may be costly;
customers’ interests could be overlooked
4. Less sharing of resources across divisions
5. More duplication of effort resulting in higher costs
6. Customers who want more than one product/service will have to work with more than
one division
7. Company may be slow to recognize that a product should be changed, dropped or added
8. Could be stifled by one product focus
9. May be less sharing of resources across division/departmental boundaries
10. More duplication of effort and infrastructure resulting in higher costs
11. Internal systems may evolve in different ways to serve different customer segments

Business process team structure:

 involves major transformation of the organization (difficult, timely and costly
change; new systems required for virtually everything)

62
  Company may need to retain functional expertise if not sufficient within each
process
 May require major and costly training initiative
5.3 Opportunities:
A time or set of circumstances that makes it possible to do something.
The following terms are given below:

Further expansion into developing economies.

Retail markets grew by at least 5% on average in emerging markets in

the last year, opening huge opportunities for Marina Home revenue growth. The company
currently operates in most of the developed economies but hasn’t firmly stepped into developing
economies, except China. There are great opportunities for Marina Home to expand into Brazil,
Mexico, UK, Canada, USA, Indonesia and Malaysia to increase its presence in these markets to
sustain future growth. Currently operating stores are in UAE, Oman, India, Pakistan, Kuwait,
and Muscat.

Although the problems with organizations and the solutions over the ages have
not really changed, the emphasis and surrounding environmental context certainly have changed.

Although the resulting lean and mean organizations offered some short-run benefits
in terms of lowered costs and improved productivity, if they continued to do business, as usual,
they would not be able to meet current or future challenges.

Our opportunities:

Improving Peoples’ Skills.

Improving Quality and Productivity.
Total Quality Management (TQM).
Managing Workforce Diversity.
Responding to Globalization.
Empowering People.
Coping with Temporariness.
Stimulating Innovation and Change.

63
 Emergence of E-Organization & E-Commerce.
Improving Ethical Behavior.
Improving Customer Service.
Helping Employees Balance Work-Life Conflicts.
Flattening World.

Technological changes, structural changes, environmental changes are accelerated at a faster rate
in our organization

Unless employees and executives are equipped to possess the required skills to adapt those
changes, the targeted goals cannot be achieved in time. These two different categories of skills –
managerial skills and technical skills.

Some of the managerial skills include listening skills, motivating skills, planning and organizing
skills, leading skills, problem-solving skill, decision-making skills etc.

These skills can be enhanced by organizing a series of training and development programs,
career development programs, induction, and socialization etc.

Quality is the extent to which the customers or users believe the product or service surpasses
their needs and expectations.

For example, a customer who purchases a electronic lamp has a certain expectation, one of
which is that the electronic lamp will start when it is turned on.

If the lamp fails to start, the customer’s expectations will not have been met and the customer
will perceive the quality of the lamp as poor. The key dimensions of quality as follows.

Performance:

Primary rating characteristics of a product such as signal coverage, audio quality,

display quality etc.

Features:

Secondary characteristics, added features, such as calculators, and alarm clock features in
hand phone

Conformance:
64
 Meeting specifications or industry standards, workmanship of the degree to which a
product’s design or operating characteristics match pre- established standards

Reliability:

The probability of a product’s falling within t a specified period of time

Durability:

It is a measure of product’s life having both economic and technical dimension

Services:

Resolution of problem and complaints, ease of repair

Response:

Human to human interfaces, such as the courtesy of the dealer « Aesthetics: Sensory
characteristics such exterior finish

Reputations:

Past performance and other intangibles, such as being ranked first.

5.4 Threats:

1. Intensifying competition.

Many low cost retailers such as underwood, S Abdullah, index furniture are
entering home ware specialists in Pakistan. These large retailers have

65
Not similar specifics but copying Marina Home designs to attract customers in low cost.

Organizations suffer a great loss when talented employees quit and join their competitors. When
an individual who has been trained for six months by an organization leaves all of a sudden, it is
both waste of time and energy. It should be ensured that employees who know their job and
responsibilities well stick to the organization for a long time at least for two to three years.

Another common threat faced by the organization is data and information loss. A lot of effort
goes in formulating important strategies for the team and organization. It is unethical to share
confidential information with your competitors. When individuals have their best friends within
the organization but working in separate teams, they tend to share team strategies and policies. In
such a case not only respective teams suffer but also the entire organization. Client data base,
monetary transactions, company accounts, salaries of employees need to be kept confidential
under all circumstance

Security issues pose a major threat to the organization. It has appointed security staffs who are
responsible for the overall security of the organization as well as safety of the employees. Proper
measures need to be taken to protect the organization from fire, earth quake or any other disaster
of similar sort. It becomes organization’s primary responsibility to take care of its employees and
their basic requirements. Poor working condition does not allow employees to give their hundred
percent.

Mass boycotts and strikes also pose major threat to organization. Situations where individuals
tend to form groups and go on strikes not only affect the productivity of the organization but also
spoil the work culture

Lack of funds is another area of concern for the organizations. Financial stability is of utmost
importance and organizations need to have a stable background. A situation where you are
unable to give salaries to your employees and also meet daily expenses need to be avoided at any
cost. Planning is essential. An organization needs to have sufficient funds to survive the
challenging times.

The organization has faces a variety of external threats that never existed a decade ago.
Safeguarding against them is an on-going battle as perpetrators become increasingly
sophisticated and clever.

66
Fraud perpetrated against an organization can originate from within (internal fraud) and includes
various methods of employee theft and espionage. Companies are also vulnerable to external
threats or forces from outside the organization. For some, such as retailers, these risks involve
their own customers. The proliferation of the Internet and electronic media has presented a whole
new set of external threats to organizations.

Role of Employees in Reducing Threats to Organization

Employees are the backbone of every organization. They play a crucial role in controlling and
also reducing the threats to organization. The major threat to an organization is a non-serious
employee who attends office just for the sake of it. Individuals need to love their organization for
them to deliver their level best.

The first initiative towards reducing threat to organization is to genuinely we develop a feeling of
respect. It do not love your organization just because your Boss has asked you to do so. The
feeling needs to come from within. The moment you are loyal towards your

Organization, our productivity would increase manifold eventually benefitting the organization.
Do not work just for our salary. After all money is not everything. Your career and professional
goals are more important.

They keep confidential information to ourselves.

It can have best friends at the workplace but we really do not have to discuss work
and team strategies with him /her. There are other things to discuss as well. It do not pass on
information to our competitors. Trust me; it is in fact a crime to do so. If caught, not only would
it spoil your entire career but also bring a bad name to us and our family. A sense of commitment
towards the organization is essential. It is unacceptable on part of a mature professional to share
data, figures, balance sheets, salaries of employees, business strategies with not only competitors
but also clients as well as friends within the organization. Data hacking is one of the cheapest
activities an employee can indulge into.

Take care of our office property

. They make sure there office machine is used only for official purposes and not for
downloading movies, uploading personal pictures and so on. they use there office computer the

67
same way you use your personal laptop. We make sure the computer is switched off properly. Do
not simply turn off the main button. It will crash our system. Their official email id should be
strictly used for official purposes only and nothing else. It do not chat with your friends and
relatives from your official email account.

We do not indulge in nasty office politics.

Remember, going on strikes is not the only solution. Rather than indulging in
unproductive activities, damaging office property, influencing coworkers not to work, it is
always better to sit face to face, discuss, sort out issues and reach to mutually beneficial
solutions. Do not play blame games at workplace. Never spoil the work culture. Make your
organization a happy place to work.

****************

68
 Chapter# 6
Training Program

6.1 Divisional or Departmental detail

6.2 Activities or internee

69
 Chapter# 6

6.1 Divisional or departmental detail:

Position Title: Assistant Store Manager

Department: Retail Operations.

Line Reporting Channel: Through Store Manager.

Position Supervised: Store Supervisors, Visual Merchandiser, Sales Executives, Sales Assistants,
and Cashiers.

Authorities: May utilize the authorities associated with the position of Assistant Store Manager
(as defined in various Company policies & procedures).

Responsibilities:

A. Human Development & Capacity Building:

• Managing whole team and facilitate store manager in implementing various plans for
human development.

• Working closely with individuals to develop the right attitude, desired set of skills,
problem solving techniques, planning and decision making skills to perform beyond
expectations.

• Identifying individual weaknesses to help them rectify with proper training,

counselling and exhibits under the leadership of store manager.

• Helping store manager in conducting formal trainings & evaluation sessions.

• Promotes initiative and creativity.

70
• Acting as a Role Model to the associates by adapting hands on approach (lead by
example) to resolve issues and problems of any nature.

• Providing necessary direction and feedback to the associates on business issues.

• Educating staff on maximizing business opportunity through the utilization of

appropriate planning & control tools.

• Understanding the training requirements for the staff and ensuring that the same is
delivered through co-ordination with the Operations Manager.

• Conducting periodic performance reviews for all the staff and appraising them of
their performance from the last appraisal date, identify the outstanding employees & provide
them with the development tools to ensure their growth and business growth simultaneously.

• Addressing HR issues of the employees, motivating the staff and encouraging team
building amongst the employees through behavioral modifications and team building exercises.

B. Sales:

• Providing all the necessary tools & means to associates to ensure that sales targets are
met beyond expectation and the sales momentum is always maintained.

• Ensuring that associates are well trained on effective selling techniques.

• Strong follow-ups on quotations and payments to close the sales.

• Daily working on retail analytics and timely actions to achieve weekly/monthly

targets.

• Providing feedback to all concerned on market trends and customer preferences;

ensuring that comparative analysis on competitors is done periodically.

• Identifying opportunity areas to maximize sales.

• Keeping the team motivated on daily basis to achieve sale targets.

71
C. Visual Merchandising / Merchandising:

• Proactive involvement in the process of understanding and ensuring that the latest /
fresh trends are implemented in the stores.

• Ensuring that visual and merchandising standards are in place.

• Ensuring optimal stock levels being met by the visual merchandiser.

• Helping & influencing visual merchandiser to consider & understand the selling
perspective while merchandising.

• Ensuring that all the deadlines are met for any proposal/project on hand with visual
merchandiser.

• Responsible for overall store ambiance and shopping experience for the customers.

D. Brand Management & Marketing:

• Knowing brand Marina Home, its journey, presence, inspiration, and discovery.

• Understanding brand and its values, attitude, and Marina Home’s USPs.

• Understanding and communicating quality, innovation, and originality of the brand

for effective suggestive selling skills.

• Knowing how brand Marina is different from and above other brands operating in
Pakistan.

• Facilitating in all in-store marketing activities in close coordination with concerned

departments.

• Ensuring that all promotional materials/gift vouchers/danglers/signage/hoardings are

in place well before the deadlines.

E. Security:

72
• Ensuring that all security policies and procedures are adhered to by all company
employees i.e. Implementation of staff check procedures, store opening & closing procedures,
cash collection & deposit to the cash office, handling shop lifters etc.

• Ensuring that all CCTV cameras are functioning properly and all the areas are under
CCTV surveillance.

• Monitoring security guards & their cabins to ensure that they are vigilant enough to
perform their duties.

• Reporting damages on monthly basis and ensuring necessary actions being taken to
avoid such damages.

F. Inventory & Stock Management:

• Working closely with Audit Department to plan & implement periodic stock takes,
stock reconciliations, and develop anti-theft controls.

• Validating & taking ownership of discrepancies during stock takes and taking
preventive measures to rectify such discrepancies in future.

• Engaging team in daily stock takes to monitor stock movements / discrepancies /

wrong pricing.

• Facilitating store manager in generating Stock Transfer Requests and maintaining

proper record / documentation, as per standard guidelines.

• Ensuring that stock transfers are done against system generated requests / documents
and are acknowledged accordingly, by the sender and receiver.

• Checking and monitoring on daily basis the paper work for deliveries conducted for
the day and to validate the same by keeping proper records.

• Developing checks on stock in/out movement from the store for deliveries/store
transfers/returns/re-deliveries.

73
• Keeping enough stocks at stock rooms so that display is not effected and packed
products are being given to customers.

• For any stocks received at store, ensuring that products quality has been checked
properly and no transit damages were found.

G. Customer Service:

• Ensuring that staff approaches the customers and delivers excellent service at all
times through proper execution of company’s policies related to customer service i.e. gift
voucher handling, exchanges and refunds, measurements, quality assurance, answering phone
calls etc.

• Ensuring that feet in area is always occupied by the staff to greet customers while
entering & leaving the store.

• Identifying training requirements and ensuring that staff undergoes through each
training module.

• All appropriate POS related to customer service are in place (covering price tickets to
store policies).

• Strong follow-ups on customer queries and ensuring the timely response.

• Building customer data base and timely communication to customers for sales and
promotions.

• Checking customer feedback forms on daily basis to ensure that no feedback is un-
attended and necessary actions have been taken.

• Training and briefing staff on mystery shopping reports for continual customer
services improvement.

H. Day-To-Day Operations:

74
• Conducting daily staff meetings and assigning special tasks for the day.

• Discussing previous day’s performance and areas for improvement.

• Checking and maintaining attendance register.

• Ensuring the whole staff’s grooming & uniform, as per standards.

• Managing staff and ensuring that shifts / leave plans are appropriately planned for
maximum store coverage and desired customer services.

• Visit whole store/pantry/stock rooms/back of house areas on daily basis for spot
checks and any necessary actions required.

• Providing a facilitators role in resolving the store maintenance issues.

• All store fixtures, equipment, & assets ownership and their periodic maintenance to
ensure smooth store operations.

• No health & safety hazard in store and the standard practices being followed.

• Ensuring that all required reports are completed on their specified deadlines and
actions are taken based on the outcome of the analysis of the reports.

I. Other Duties & Responsibilities:

• Complete ownership & sense of responsibility for any matter related to business/store
operations.

• Keeping an eye on surroundings for any opportunity, threat, or hazard which may
impact the business.

• Identifying new business opportunities.

• Attending business meetings etc. whenever required.

• Visiting clients for any project/proposal where store manager can play his role to
close sales or to suggest any home furnishing solutions.

75
• Ensure pantry, back of house areas, and stock rooms being maintained as per defined
standards.

• Undertaking any additional responsibility assigned to the position.

Position Title: Cashier

Line Reporting Channel: Through Store Manager.

Responsibilities:

1. Cashiering & Till Operations

• Invoicing customer basket list in coordination with sales executives / store manager.

• Verifying customer basket list with customer before proceeding with payment /
invoicing.

• Preparing cash handover reports using standard format and getting the
acknowledgment on paper.

• Preparing daily cash report using standard format and sending to the concerned
through email.

• Maintaining folders for signed cash reports & cash handovers, on daily basis.

• Maintaining separate folders for delivery order / exchange approvals / return

approvals / discount approvals / Service assurance checklist, using standard formats and
guidelines.

• Preparing daily deposits and getting proper acknowledgement on deposit slips and
through email, as well.

• Taking full responsibility of till and ensuring till is updated as per the daily sales, all
the time.

76
• Preparing monthly cash reconciliation reports in coordination with accounts
department.

• Preparing monthly sales summary for sales executives and any other sales related
reports.

2. Sales & Customer Services

• Warmly greeting every customer approaching the cash counter for any information or
billing.

• Attending to phone calls as per Marina standards and ensuring strong follow-ups on
customer queries.

• Informing customer about exchange and return policies before taking the payment
and ensuring sales staff have explained and have got customer acknowledgement on service
assurance checklist, for delivery orders.

• Asking customers for any complementary product to increase the basket size.

• Handing over the invoice to customers and getting their acknowledgment on invoice
for exchange & refund terms.

• Asking every customer for their feedback and maintaining a proper record of all the
feedback for customer services improvement.

• Calling customers for any promotions, events, and marketing campaigns.

3. Cash Counter

• Ensuring the cash counter is well arranged and all the necessary stuff is available for
the customers.

• Ensuring the Customer Protection Policy, Business cards, Feedback Forms, and
Marina Home catalogues accessible for customers, at the cash counter.

• Ensuring all the housekeeping and visual merchandising standards at cash counter, in
coordination with store manager and visual merchandiser.

4. Team Work

77
• Working as part of sales team and helping out customers during busy hours.

• Helping sales team in printing POS materials and any other store operations.

5. Product Knowledge & Trainings

• Actively participating in knowledge sharing sessions and trainings to handle

customer queries at the cash counter/phone calls.

• Ability to continuously upgrade skills & knowledge.

Position Title: Sales Executive

Department: Through Store Manager.

Responsibilities:

A. Sales & Customer Services

• Warmly greets every customer on floor and asks for any assistance required.

• Understanding the importance of greeting the customers while entering / leaving the
store, and spends time at feet in area as per the daily schedule.

• Target driven and always focused. Plans and achieves target on daily basis.

• Thorough understanding of customer protection policy & service assurance check list
to avoid any after sales issues.

• It identifies customer’s needs to provide best home furnishing solutions.

• Adding on to sales to increase unit per transactions and average transaction value.

• Giving alternatives and suggesting products as per customer requirements.

• Staying with the customer all the time and giving full attention and respect.

• Knowing the competition and updated on industry trends and other home furnishing
brands.

• Providing feedback to store manager on market trends and customer preferences.

78
• Identifying and sharing opportunity areas to maximize sales.

• Excellent customer services every time to all of the customers.

• Using brand USPs and telling the product benefits and features in an engaging
manner.

• Highlighting product characteristics by using Marina’s brand expressions.

• Exhibiting the products and inviting customers to try our merchandise.

• Building business relationships with customers.

• Strong follow-ups on customer queries, quotations and delivery orders.

• No wrong information and commitments to customers.

• Does not over commit and always try to be on the safer side.

• Working on conversions and always eager to close the sales.

• Handling difficult situations and customers in a pleasant manner and never getting
hyper / emotional.

• Does not argue and avoids creating any scene on the floor with customers.

B. Visual Merchandising

• Taking complete responsibility & ownership of allocated areas in the store.

• Ensuring housekeeping standards being met and taking initiative to get the things
done.

• Does not wait for others to fix the merchandise, as per the standards. Rearranges
designated areas at the start of day.

• Responsible for overall ambiance of the allotted areas.

• Regularly verifying the pricing on merchandise and rectifying it, if required.

• Maintaining the pricing standards as per the policies and guidelines.

• Helping visual merchandiser in identifying areas for improvement.

79
• Keeping visual merchandiser updated on any changes required for designated areas.

• Ensuring that space is utilized as per visual merchandising standards.

• Giving feedback to visual merchandiser and store manager to enhance selling

probability of certain merchandise.

C. Product Safety & Security

• Handling the product with due care, as per standard guidelines and instructions.

• Ensuring that products are displayed in a safe manner and there is no damages to any
merchandise or infrastructure.

• Identifying and reporting any damages, safety hazards to store manager for necessary
actions.

• Keeping an eye on everything in the allocated areas to minimize the security / theft
risks.

• For any accident, fire, or any other disaster on floor, refers to the concerned
department immediately and does not put his / her life in danger.

D. Team Work

• Accepting any additional tasks assigned by store manager / management.

• Respecting other team members and never getting involved in any act which may
hurt the team spirit.

• Putting forward any concerns related to team in a manner that no one gets offended.

• Always available to help other team members.

• Never spreads negativity and always looks for the positive aspects.

• Respecting others’ opinion and never arguing.

E. Store Operations

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• Understanding system / operations and going by the policies.

• Follow-ups on customer deliveries and ensures timely delivery.

• Maintaining customer data base and sharing with marketing team for promotional
campaigns.

• Can handle store in manager’s absence and takes full responsibility & ownership.

F. Stocks & Inventories

• Checking daily stock movement and its verifications, as per store manager’s
instructions.

• Helping retail and audit team in stock checks and reconciliations.

G. Product Knowledge & Trainings

• Actively participating in training sessions and adding value.

• Studying new products & materials and taking initiatives to conduct trainings.

• Ability to continuously upgrade skills & knowledge.

Position Title: Store Supervisor

Department: Retail Operations.

Line Reporting Channel: Through Store Manager.

Position Supervised: Sales Executives, Sales Assistants, and Cashiers.

Responsibilities:

A. Human Development & Capacity Building:

• Observing and giving feedback to store manager for individuals to develop the right
attitude, desired set of skills, problem solving techniques, planning and decision making skills to
perform beyond expectations.

81
• Identifying individual weaknesses to help them rectify with proper training,
counselling and exhibits.

• Conducting formal training sessions.

• Promoting initiative and creativity.

• Acting as a Role Model to the associates by adapting hands on approach (lead by

sexample) to resolve issues and problems of any nature.

• Providing necessary direction and feedback to the associates on business issues.

• Educating staff on maximizing business opportunity through the utilization of

appropriate planning & control tools.

• Understanding the training requirements for the staff and ensuring that the same is
delivered through co-ordination with the Store Manager.

• Identifying the outstanding employees & provide them with the development tools to
ensure their professional and business growth, simultaneously.

B. Sales:

• Providing all the necessary tools & means to the associates to ensure that sales targets
are met beyond expectation and the sales momentum is always maintained.

• Ensuring that associates are well trained on effective selling techniques.

• Strong follow-ups on quotations and payments to close the sales.

• Engaging team on retail analytics and timely actions to achieve weekly/monthly

targets.

• Identifying opportunity areas to maximize sales.

• Keeping the team motivated on daily basis to achieve sale targets.

C. Visual Merchandising / Merchandising:

• Proactive involvement in the process of understanding and ensuring that the latest /
fresh trends are implemented in the stores.

82
• Ensuring that visual and merchandising standards are in place.

• Ensuring optimal stock levels being met by the visual merchandiser.

• Helping visual merchandiser to consider & understand the selling perspective while
merchandising.

• Helping visual merchandiser for any proposal/project on hand.

• Sharing responsibility for overall store ambiance and shopping experience for the
customers.

D. Brand Management & Marketing:

• Knowing brand Marina Home, its journey, presence, inspiration, and discovery.

• Understanding brand and its values, attitude, and Marina Home’s USPs.

• Understanding and communicating quality, innovation, and originality of the brand

for effective suggestive selling skills.

• Knowing how brand Marina is different from and above other brands operating in
Pakistan.

• Facilitating in all in-store marketing activities in close coordination with concerned

departments.

• Ensuring that all promotional materials/gift vouchers/danglers/signage/hoardings are

in place well before the deadlines.

E. Security:

• Ensuring that all security policies and procedures are adhered to by all company
employees i.e. Implementation of staff check procedures, store opening & closing procedures,
cash collection & deposit to the cash office, handling shop lifters etc.

• Ensuring that all CCTV cameras are functioning properly and all the areas are under
CCTV surveillance.

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• Monitoring security guards & their cabins and giving feedback to store manager for
any necessary required.

F. Inventory & Stock Management:

• Working closely with Audit Department to plan & implement periodic stock takes,
stock reconciliations, and develops anti-theft controls.

• Validating & taking ownership of discrepancies during stock takes and taking
preventive measures to rectify such discrepancies in future.

• Engaging team in daily stock takes to monitor daily stock movements / stock
discrepancies / wrong pricing.

• Ensuring that stock transfers are done against system generated documents and are
acknowledged accordingly by the sender and receiver.

• Checking and monitoring on daily basis the paper work for deliveries conducted for
the day and to validate the same by keeping proper records.

• Developing checks on stock in/out movement from the store for deliveries/store
transfers/returns/re-deliveries.

• Keeping enough stocks at stock rooms so that display is not effected and packed
products are being given to customers.

• For any stocks received at store, ensuring that product’s quality has been checked
properly and no transit damages are found.

• Preparing damages report on monthly basis for store manager to ensure necessary
actions being taken to avoid such damages.

G. Customer Service:

• Helping sales staff in delivering excellent service all the times through proper
execution of company’s policies related to customer service i.e. gift voucher handling, exchanges
and refunds, measurements, quality assurance, answering phone calls etc.

84
• Ensuring that feet in area is always occupied by the staff to greet customers while
entering & leaving the store.

• Identifying training requirements and ensuring that staff undergoes through each
training module.

• All appropriate POS related to customer service are in place (covering price tickets to
store policies).

• Strong follow-ups on customer queries and ensuring the timely response.

• Building customer data base and timely communication to customers for sales and
promotions.

• Checking customer feedback forms on daily basis to ensure that no feedback is un-
attended and necessary actions have been taken.

• Training and briefing staff on mystery shopping reports for continual customer
services improvement.

H. Day-To-Day Operations:

• Conducting daily staff meetings and assigning special tasks for the day.

• Discussing previous day’s performance and areas for improvement.

• Checking and maintaining attendance register.

• Ensuring the whole staff’s grooming & uniform as per standards.

• Managing staff and ensuring that shifts / leave plans are appropriately planned to
ensure maximum store coverage and desired customer services.

• Visiting whole store/pantry/stock rooms/back of house areas on daily basis for spot
checks and any necessary actions required.

• Providing a facilitators role in resolving the store maintenance issues.

• Sharing ownership for all store fixtures, equipment, assets and their periodic
maintenance to ensure smooth store operations.

85
• No health & safety hazard in store and the standard practices being followed.

• Ensuring that all required reports are completed on their specified deadlines and
actions are taken based on the outcome of the analysis of the reports.

I. Other Duties & Responsibilities:

• Complete ownership & sense of responsibility for any matter related to business/store
operations.

• Keeping an eye on surroundings for any opportunity, threat, or hazard which may
impact the business.

• Identifying new business opportunities.

• Visiting clients for any project/proposal where store supervisor can play his role to
close sales or to suggest any home furnishing solutions.

• Ensuring pantry, back of house areas, and stock rooms being maintained as per
defined standards.

• Undertaking any additional responsibility assigned to the position.

Position Title: Store Manager

Department: Retail Operations.

Line Reporting Channel: Through Retail Operations Manager.

Position Supervised: Deputy Store Manager, Assistant Store Manager, Store Supervisors,
Visual Merchandiser, Sales Executives, Sales Assistants, and Cashiers.

Authorities: May utilize the authorities associated with the position of Store Manager (as
defined in various Company policies & procedures).

Responsibilities:
86
A. Human Development & Capacity Building:

• Working closely with individuals to develop the right attitude, desired set of skills,
problem solving techniques, planning and decision making skills to perform beyond
expectations.

• Identifying individual weaknesses to help them rectify with proper training,

counselling and exhibits.

• Conducting formal training & evaluation sessions.

• Promoting initiative and creativity.

• Acting as a Role Model to the associates by adapting hands on approach (lead by

example) to resolve issues and problems of any nature.

• Providing necessary direction and feedback to the associates on business issues.

• Educating staff on maximizing business opportunity through the utilization of

appropriate planning & control tools.

• Understanding the training requirements for the staff and ensuring that the same is
delivered through co-ordination with the Operations Manager.

• Conducting periodic performance reviews for all the staff and appraising them of
their performance from the last appraisal date.

• Identifying the outstanding employees & provide them with the development tools to
ensure their professional and business growth, simultaneously.

• Addressing HR issues of the employees and motivating the staff and encourage team
building amongst the employees through behavioral modifications and team building exercises.

B. Sales:

• Providing all the necessary tools & means to the associates to ensure that sales targets
are met beyond expectation and the sales momentum is always maintained.

• Ensuring that associates are well trained on effective selling techniques.

87
• Strong follow-ups on quotations and payments to close the sales.

• Daily working on retail analytics and timely actions to achieve weekly/monthly

targets.

• Providing feedback to all concerned on market trends and customer preferences;

ensure that comparative analysis on competitors is done periodically.

• Identifying opportunity areas to maximize sales.

• Keeping the team motivated on daily basis to achieve sale targets.

C. Visual Merchandising / Merchandising:

• Proactive involvement in the process of understanding and ensuring that the latest /
fresh trends are implemented in the stores.

• Ensuring that visual and merchandising standards are in place.

• Ensuring optimal stock levels being met by the visual merchandiser.

• Help & influence visual merchandiser to consider & understand the selling
perspective while merchandising.

• Ensuring that all the deadlines are met for any proposal/project on hand with visual
merchandiser.

• Responsible for overall store ambiance and shopping experience for the customers.

D. Brand Management & Marketing:

• Knowing brand Marina Home, its journey, presence, inspiration, and discovery.

• Understanding brand and its values, attitude, and Marina Home’s USPs.

• Understanding and communicating quality, innovation, and originality of the brand

for effective suggestive selling skills.

• Knowing how brand Marina is different from and above other brands operating in
Pakistan.

88
• Facilitating in all in-store marketing activities in close coordination with concerned
departments.

• Ensuring that all promotional materials/gift vouchers/danglers/signage/hoardings are

in place well before the deadlines.

E. Security:

• Ensuring that all security policies and procedures are adhered to by all company
employees i.e. Implementation of staff check procedures, store opening & closing procedures,
cash collection & deposit to the cash office, handling shop lifters etc.

• Ensuring that all CCTV cameras are functioning properly and all the areas are under
CCTV surveillance.

• Monitoring security guards & their cabins to ensure that they are vigilant enough to
perform their duties.

F. Inventory & Stock Management:

• Working closely with Audit Department to plan & implement periodic stock takes,
stock reconciliations, and develops anti-theft controls.

• Validating & taking ownership of discrepancies during stock takes and taking
preventive measures to rectify such discrepancies in future.

• Engaging team in daily stock takes to monitor daily stock movements / stock
discrepancies / wrong pricing.

• Generating Stock Transfer Requests and maintaining proper record/documentation, as

per standard guidelines.

• Ensuring that stock transfers are done against system generated documents and are
acknowledged accordingly by the sender and receiver.

• Checking and monitoring on daily basis the paper work for deliveries conducted for
the day and to validate the same by keeping proper records.

89
• Developing checks on stock in/out movement from the store for deliveries/store
transfers/returns/re-deliveries.

• Keeping enough stocks at stock rooms so that display is not effected and packed
products are being given to customers.

• For any stocks received at store, ensuring that product’s quality has been checked
properly and no transit damages are found.

• Reporting damages on monthly basis and ensuring necessary actions being taken to
avoid such damages.

G. Customer Service:

• Ensuring that staff approaches the customers and delivers excellent service all the
times through proper execution of company’s policies related to customer service i.e. gift
voucher handling, exchanges and refunds, measurements, quality assurance, answering phone
calls etc.

• Ensuring that feet in area is always occupied by the staff to greet customers while
entering & leaving the store.

• Identifying training requirements and ensuring that staff undergoes through each
training module.

• All appropriate POS related to customer service are in place (covering price tickets to
store policies).

• Strong follow-ups on customer queries and ensuring the timely response.

• Building customer data base and timely communication to customers for sales and
promotions.

• Checking customer feedback forms on daily basis to ensure that no feedback is un-
attended and necessary actions have been taken.

• Training and briefing staff on mystery shopping reports for continual customer
services improvement.

90
H. Day-To-Day Operations:

• Conducting daily staff meetings and assigning special tasks for the day.

• Discussing previous day’s performance and areas for improvement.

• Checking and maintaining attendance register.

• Ensuring the whole staff’s grooming & uniform as per standards.

• Managing staff and ensuring that shifts / leave plans are appropriately planned to
ensure maximum store coverage and desired customer services.

• Visiting whole store/pantry/stock rooms/back of house areas on daily basis for spot
checks and any necessary actions required.

• Providing a facilitators role in resolving the store maintenance issues.

• All store fixtures, equipment, & assets ownership and their periodic maintenance to
ensure smooth store operations.

• No health & safety hazard in store and the standard practices being followed.

• Ensuring that all required reports are completed on their specified deadlines and
actions are taken based on the outcome of the analysis of the reports.

I. Other Duties & Responsibilities:

• Complete ownership & sense of responsibility for any matter related to business/store
operations.

• Keeping an eye on surroundings for any opportunity, threat, or hazard which may
impact the business.

• Identifying new business opportunities.

• Attending and contributing in business meetings etc. whenever required.

• Visiting clients for any project/proposal where store manager can play his role to
close sales or to suggest any home furnishing solutions.

91
• Ensuring pantry, back of house areas, and stock rooms being maintained as per
defined standards.

• Undertaking any additional responsibility assigned to the position.

Position Title: Visual Merchandiser, Marina Home

Department: Retail

Line Reporting Channel: Through Store Manager

Responsibilities:

A. Visual Merchandising / Merchandising:

• Regularly generating stock requests to replenish the merchandise and maintaining the
optimal stock levels.

• Ensuring the new arrivals on display at the earliest with the help of store manager and
allocated resources.

• Visual Merchandising must highlight the themes, stories, backgrounds and origins of
the products through concept management and display.

• Creating need for certain merchandise by complementing products with one another.

• Creating a balance and curiosity for customers on all floors.

• Ensuring that Marina’s visual merchandising and pricing standards are in place.

• Provide a facilitators role in resolving the merchandising matters.

• Liquidating “Slow Moving” items through effective merchandising.

• Efficient use of space and improving return per square meter.

• Minimum spoilage / damages during merchandising.

• Ensuring the Color theme and story while merchandising.

92
• Lighting in the stores and its effect on merchandise shall enlighten the beauty of
whole theme and surroundings.

• Ensuring display in a way that customer traffic is routed to all of the areas in stores
for customers to have a look at whole merchandise.

B. Day-To-Day Operations:

• Regularly updating and changing the window display.

• Ensuring Health and Safety measures as top priority while moving products.

• Effective utilization of hot spots in the stores.

• Providing Interior Design Services to Marina customers through In Store and Home
Consultation (If required).

• Making formal presentations and proposals for customers.

• Provide necessary direction and feedback to the associates on merchandising issues.

• Educating associates on maximizing business opportunity through the effective

merchandising.

C. Competencies:

Following needs to be developed and continuously improved upon:

• Communication – Communicates using professional tools and formal presentations to

engage customer and other stakeholders, to close the projects/sales.

• Developing Relationships - Invest time in building valuable business relationships

with stakeholders. Offer personal help and reassurance when needed. Be approachable and show
empathy towards colleagues and customers.

• Planning for Action - Identify priorities effectively, balancing importance, urgency

and feasibility. Manage own personal time efficiently within tight schedules. Flexible in the face
of change, revisiting priorities as circumstances dictate.

93
• Drive and Resilience – Take responsibility for making things happen. Should not give
up when faced with setbacks, remain calm and focused under time pressure and when dealing
with difficult or confrontational situations. Enjoy a busy workload and should not mind
unexpected interruptions. Take personal responsibility for developing own skills and ensuring
continuous learning is taking place. Be able to switch off from work pressure at the end of the
day.

• People management & development – Achieve empowerment through coaching,

trainings, and authority delegation.

D. Other duties & responsibilities:

• Undertake any additional responsibility assigned to the position

6.2 Activities or internee:

• Activity of Intern

Following were the tasks and activities during the internship in Marina Home.

Develop and Maintain HR Compliance Knowledge

Begins to develop a current knowledge of HR Laws and Regulations.

Keeps abreast of new developments in the HR field.

Develops a working knowledge of HR information databases and searchable resources.

Keeps abreast of Document retention requirements.

Pursue an Attitude of Learning and Development

Attends seminars and meetings relative to the HR profession.

Cultivate interpersonal skills Develop negotiating and public speaking skills.

Foster time management skills.

Teamwork

94
Work proactively with other team members.

Prioritize activities for the best interest of the team when working on joint projects.

Handle client requests and deliver quality solutions if able, or escalate the request to a more
senior team member.

Openly share new ideas and information with other team members.

Keep other team members apprised to avoid surprises and disappointed clients.

Manage and Accurately Report Time and Expenses.

Internship Project Brief

During the six week of internship I was supposed to fulfill the requirements of the internship as told by
our teachers, and to experience that how the work is done in practical life, to learn about different
market and industry which will also help us in our further projects

Week 1

In my first week of internship I was introduced to the Manager of Marina Homes Mian Waqas
Ahmed and he gave us the introduction about Marina Homes and told us about the rules and regulation
of the showroom. I was also introduced to the whole staff of Marina Home.

The first week of internship was about the survey of different furniture brands which included
the survey of the competitor of Marina that is kit and caboodle. The showroom of Kit and
Caboodle was visited and the survey was submitted in the presentation form which was
appreciated by the head. The survey included the price range and quality of the products of the
other brand.

95
 Week 2

I worked with sales staff, cashier and learn most

of about operations of showroom that how they
are getting stuff from Dubai, ordering of
products, Inspection of products, display at showroom, receiving of items from Warehouse to
showroom, barcoding process, selling it to customer and Delivering it to customer, after sales
services.

Week 3

During the 3rd week of internship I was given a task of creating an interior layout plan for the
house of the customers of marina homes. The clients were from Faisalabad and for their house
the products from the showroom which were most suitable were selected their technical
drawings were made on AutoCAD and then the layouts of the house were made in AutoCAD 2D
form. Each portion of the house was done after the complete understanding of the products and
the architecture of their house. The products which were more suitable for the specific rooms
were chosen.

The house consisted of:

• Lounge

• Drawing room

• Personal Sitting room

• Study room

• Cigar Room

• Bedroom

96
 Fig: 6.1 Layout of
room

Week 5 and 6

In the last weeks of internship, I was supposed to change the interior of 2 floors it was very
interesting in working at Marina Homes. The labor of marina helped us in the arrangement as the
furniture products were really heavy. It also guided me that how to interact with clients how to
make them purchase your goods. The staff of marina home was very nice and polite.

*************

97
 Chapter# 7
Problems and
Recommendations

7.1 Conclusion

98
 Chapter# 7

7.1 Conclusion

Being a student this was a whole new experience to work with the great designer who has been
working for many years. This was a different experience because here I understand what actually
professional life means and it teaches me how to interact with the workers and how to get done
with your work in the given time.Marina home is a showroom which main branch is located in
Dubai it provides different products such as decoration products ancient products etc. and also the
interior designing of room, decoration of birthday parties Twenty years ago, three visionary
brothers joint hands and built together a business that carried the promise of an experience of
quality and originality above all else. This remarkable journey has seen one store become 20 stores
across 13 cities around the world and 5 active franchises importing the same retail experience. An
upscale home furnishings brand, Marina Home operates large-format showrooms across the
Middle East, North Africa and the Indian subcontinent. A household name across the region,
Marina Home is synonymous with quality, creativity and innovation. Each of our distinctive
showrooms across major malls and popular high street locations is an eclectic destination of
exploration and discovery.

Problems and Recommendations

Organization-wide Problems

Simple employee or team issues can quickly expand to total organization if it don't take immediate
corrective action. It must avoid this situation at all costs, as it often results in the staff forming two
groups, both at odds with each other. Should all my avoidance actions fail, be ready to take much
more dramatic corrective measures. I must prevent these problems from negatively changing the
corporate culture you have carefully cultivated to make your company and workplace a high
performing entity

99
 Company should try to get rid of the political influence to be able to compete in the
industry with prudent and strong policies.
 The undue reliance on the public sector be minimized and ventures of private sectors
should be taken as well.
 Redefining of rules, regulations and policies should be made implemented at all costs.
 Efforts of great importance to be made for the over the counter services of general
banking making it more simple and faster to get a better response of the customers.
 The behavior of the employee, especially on the counter has to be strictly monitored and
checked.
 The still existed bureaucratic approval system has to be demolished.
 All advances should be made by getting the maximum security and should focus on
productive work.
 Better and comprehensive long-term and short-term planning should be made to forecast
the future needs.
 There is a possibility of establishing a task force to ascertain the effectiveness of the
policies being implemented.
 The company should develop a comprehensive recruitment policy to make only the
competent ones to be on the job.
 There is a still a vast pool of incompetent employees that has to right sized.

100
 CHAPTER# 8
List of Annexure

8.1 List of annexure

101
Chapter# 8 List of annexure

 www.marinagulf.com
 https://marinahomeinteriors.com
 https://www.facebook.com/marinahomeinteriors
 https://uae.souq.com/ae-en/marina-home-outlet/p
 https://pk.linkedin.com/company/marina-home-interiors
 https://www.indeed.com/cmp/Marina-Home-Interiors
 https://marinahomeinteriors.com/contacts-us
 https://www.monstergulf.com/marina-home-jobs-in-dubai.html
 https://www.careerjoin.com/marina-home-jobs-asssitant-manager-
administration/
 https://www.glassdoor.com/Overview/Working-at-Marina-Home-
Interiors-EI_IE1541113.11,32.htm
 https://www.gulftalent.com/companies/marina-gulf-trading
 https://marinahomeinteriors.com/marinahomeinteriors
 https://marinahomeinteriors.com/franchise
 https://thedubaimall.com/en/shop/marina-exotic-home-interiors
 P.OBox: 3276, Dubai, United Arab Emirates
 Email: info @marinagulf.com

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