NetSol Techologies History and vision - Free Essay Example

Sample details Pages: 10 Words: 3015 Downloads: 1 Date added: 2017/06/26 Category Business Essay Type Research paper Did you like this example? NetSol Technologies, Inc. was founded in the year 1995 by three brothers; Salim Ghauri, Najeeb Ghauri, and Naeem Ghauri, each of whom was a successful professional in his own right. Having started out with humble beginnings in the city of Lahore, NetSol soon grew to a sizable business having operations in Australia, China, Pakistan, Thailand, UK, and a headquarters in California, USA. Don’t waste time! Our writers will create an original "NetSol Techologies: History and vision" essay for you Create order In 1996 NetSol got its big break, when it was awarded a major offshore contract with Mercedes Benz Thailand, many more such contracts were to follow. Focusing on quality NetSol went on to attain the ISO 9001 and ISO 27001 certifications in 1998 and 2008 respectively, and in 2006 it achieved CMMI Level 5 certification, a distinction shared by fewer than 100 companies worldwide. NetSol was also the first US Company to dual list on both the NASDAQ Capital Market and the Dubai International Financial Exchange DIFX, which became NASDAQ Dubai in 2008. 1.2 Vision Statement Our vision is to become a leading digital security organization in Pakistan providing support in securing the digital boundaries of Pakistan. 1.3 Mission Statement Deliver high quality, innovative and best-in-class IT solutions and services to help our customers achieve their business objectives and operational efficiencies. CONCLUSION This chapter was all about introduction of NetSol. In next chapter Business operations of NetSol will be explained. CHAPTER NO 2 BUSINESS OPERATION Chapter Outline Second chapter of this report is devoted to the business operations of NetSol. In this chapter first departmental structure of NetSol is discussed. I also offer SWOT analysis of NetSol. Marketing and competitive strategy is also offered in this chapter. In the end of this chapter I interpreted businesses process analysis of NetSol in which I thoroughly discussed the HR department. Figure 2.1 Organizational Structures (Organizational Chart) 2.2 SWOT Analysis It is the analysis of the strengths weaknesses opportunities and threats of NetSol Tech. While doing the SWOT analysis that what are the areas where a company is better off than other and what are the areas where it lacks. 2.2.1 Strengths 2.2.1.1 Exponential Growth It is growing rapidly, joint ventures, acquisitions, and contracts are giving it a fast growth rate. 2.2.1.2 Highly Skilled Human Resource at Low-Cost Work force in Pakistan is cheap than the advanced countries of the world so they are able to explore this workforce by providing training to it. 2.2.1.3 Access to Quick Communications Optical network and satellite links are available all over the world. Company can coordinate with its offices also customers. 2.2.1.4 Blue Chip Clients Many of the fortune 500 are its clients who want innovation and quality which NetSol is doing. So it is not easy for its customers to switch to others. 2.2.1.5 Sound Organizational Structure Organizational structure of NetSol helps it flourish every department works on its own. 2.2.1.6 First Pakistani Company to Achieve CMMI level 5 Assessment in Pakistan Since it has achieved CMMI level 5 assessments for the first time in Pakistan, this will help the company to enlarge its customers in Pakistan. 2.2.1.7 Strong Financial Position Company is financially strong so has the ability to meet the increase in demand by increasing the operations. 2.2.1.8 Low Turnover NetSol gives more satisfaction to its employees by giving them extra benefits and incentives. Family like environment is given to the employees, so they do not want to leave the organization. 2.2.1 Weaknesses 2.2.2.1 Average Quality of Service Numerous companies of the world offer the products and services same as it is offering. It should offer unique ideas. 2.2.2.2 Small Market Segment of Customers Customers of NetSol are few big companies; if some of them switch to others it will create problems for the company. 2.2.2.3 Least Focus on Pakistani Market NetSol has greater focus on foreign contracts and foreign customers. Pakistan is a big it market which it is not exploring to the highest degree as a result other companies of the world are taking the advantage. 2.2.2.4 Research and Development Programs on Small Bases It world is changing rapidly day by day and there is a need to spend much on research and development which it is not doing to that extant. 2.2.2 Opportunities 2.2.3.1 Huge International and National Market Its market in the world is large in size and is expanding day by day. NetSol can capture this increasing market. 2.2.3.2 Rapidly Increasing e-Governance in Government Sector in Pakistan Government of Pakistan is computerizing its operations; company can take it as a big customer. 2.2.3.3 Local Production Its operations are expanded to six large it economies, it can understand the local needs and provide the products as needed. 2.2.3.4 Adopt Latest Technologies and Techniques It is known for innovation, by adopting the latest technologies and techniques, it can provide better products and services. 2.2.3.5 Removal of International Trade Barriers Since the application of WTO international trade barriers are being removed day by day, it creates the opportunity to go to those economies which were not allowing the Pakistani products. 2.2.4 Threats 2.2.3.6 Recession in the World Economy World economy is in a big recession. Affording of the people is decreasing. As a result sales is reduced and companies are going into loses. So business has shrieked. 2.2.3.7 Political Issues, Security Concerns Due to security concerns people dont want to come to Pakistan and as a result NetSol has to send its representative to their countries for getting the contracts. On the other hand it is sending its employees to UK for training which is costly. 2.2.3.8 Sanctions on Pakistan Economic sanctions on Pakistani economy are imposed from time to time, it adversely affect the exports. 2.2.3.9 Copy Rights and Patent Violations Copy rights and patent violations cost the It companies especially. It cost them billions of dollars per year. 2.3. Marketing Strategy 2.3.1 Product First and foremost strategy of the company is to maintain quality and standard of the existing products and services, their development, meeting demands of the market has become a great challenge for the company. It offers more than 10 products and services. 2.3.1.1 Perceived Quality Performance: The Companys performance in the whole is unmatched in terms of the solutions that they provide. The performance of NetSols products is also excellent. Features: The enterprise solutions, e- services consulting, and software solutions have numerous features which add value to the overall product diversification. Reliability: The reliability of NetSol products is a lot. Customers trust the products and services. NetSol has a make a promise and fulfill it ideology. They have a perfect track record on system delivery. The customers are delivered on time, exactly what they want. Durability: The NetSol products and services come with a guarantee of being excellently worked out and worked upon. The durability promise has been fulfilled for many years now. NetSol products are known nationally and internationally to be the best. 2.3.1.2 Creating Customer Value and Customization NetSol creates customer value, by adding up exactly those features, the customer desires in the product. The products and services are made with such proficiency that they are efficient and generate value for the customer. The component of customization is obvious. This is because of the fact that the services and products provided by NetSol are such that without the customization it would not be feasible to use them in such dissimilar industries like automotive, chemical, textiles, Internet marketing, software, medical, banks, higher education and telecommunication links, and, financial services. 2.3.2 Price 2.3.2.1 Customer Price Perceptions The NetSol customers are usually large organizations their chief concern is to get the best in the class software, services and products. The price perceptions of NetSol clients are that they are charged for what they are being provided. 2.3.2.2 Value Pricing The products, and services provided by NetSol are priced according to their value. The products and services are developed according to the customer requirements and the quality is unmatched. The price that is being charged for the value creating products and services is perfect and appropriate. 2.3.2.3 Customer Sensitivity to Price The customer sensitivity to price is not much. The customers of NetSol products and services are not at all price conscious and they care more about the product quality rather than its price. The major cost drivers in the market are the infrastructure and the employees. 2.3.3 Place 2.3.3.1 Availability NetSol has established itself over the years as the best solution provider and the provider of best quality services and products. It has also established its basis significantly in the international market. The customers know NetSol and they know that they will be provided with the best services and products at NetSol. Thus the availability is not the concern, because the market presence of NetSol is significant. 2.3.3.2 Direct Channels The products and services of NetSol are delivered by the companys team dedicated for this task. The team goes for product delivery, installation and also user training. The products and services are provided on the date that is requested by the customer. There arent any delays or errors in this process. 2.3.4 Promotion 2.3.4.1 Advertising NetSol has started focusing on advertising which previously was not a major concern. The industry participation was there but as such advertising wasnt done. NetSol has already been working on the international marketing with development of global marketing departments which work intensively on the marketing strategies for the organization with due consideration to the country values and culture. 2.3.4.2 Event Marketing/Sponsorships NetSol has marketed itself in a lot of different domains for the services that it provides. NetSol has always shown its presence as a major sponsor IT events. They participate in IT exhibitions and events. They have shown participation in SOFTEC and other national and international IT extravaganzas. NetSol has been doing a lot of marketing and their campaigns have taken a higher gear for quite some years now. In Pakistan the media has provided significant coverage to NetSol and the CEO Mr.Saleem Ghauri has represented NetSol on all the prestigious of events and places. 2.3.4.3 Direct Response Advertising NetSol indulges in direct response advertising as well. There is a lot of advertising activity done online and via e-mails and broadcast media. Not much of telephonic and other types of advertising are done. But the advertising done directly is significant and plays a vital role. 2.3.4.4 Place Advertising The place advertising is very important and NetSol is very well aware of that. We do not see much billboards covered with NetSol and its offerings here in Pakistan but they do advertise internationally this way. On events like SOFTEC and other exhibitions NetSol has printed flexes and posters and hanging banners with the company logo which are large and very attractively designed. 2.3.5 Public Relations Public relations of NetSol are very well managed. They keep their customers very satisfied by unprecedented work quality and they show regular presence on major industry events by both participation and sponsorship. 2.4 Competitive Strategy 2.4.1 Competitors and Pricing The pricing is competitive. The industry is such that everyone knows what the other is charging and it basically depends on the type of the product or service being demanded by the customer. The major competitors of NetSol internationally are TATA, VIPRO etc. now NetSol has developed itself for the niche, and thus it does not matter essentially how products and services are priced. The competitive advantage that NetSol has over others is the quality. The pricing is competitive and there are no discounts offered to customers, but there are due negotiations done on the prices by both parties doing business. 2.5 Business process analysis 2.5.1 HR Department It was established in 1999 as an independent department. HR department was established to meet the following needs. Recruitment and selection Training and development 2.5.1.1 Objectives Its main objective was the following: To make the company equal opportunity employer. To determine HR needs both in short term and long term. To attract right pool of candidates. To generate new recruitment channels. To create good relationship with other departments. To gave best services to the employees. To maintain and keep database of quality applicants. 2.5.1.2 HR Functions at NetSol The HR department performs the following functions at NetSol, although the main heads are still the same but overall the following functions are performed by the HR department of NetSol. These include: Strategic HRM: Following are the areas of concern in this function: To set HR objectives/goals To formulate policies, procedures and strategies To forecast/plan the Human Resource Requirements to address the goals To design the skill set and knowledge base for Human Resources to accomplish the goals To create career paths for Human Resources To reward and retain the Human Resources Generation Implementation of Human Resource Policies: As a result mutual cooperation between departments a policy is formulated with consensus and implemented. Recruitment and selection: Generally recruitment is a very length process that starts from the time when a position is opened in any specific department. It can be proceed internally if the HR department gets a requisition from people already working in the company or it can be through the laborious process of CV scanning. Stages in Recruitment Process: Recruitment Program: NetSol is a well defined blend of seasoned as well as fresh talent all of which are inducted into the organization by either of the below listed ways, Regular Career Opportunities Fresh Graduates Hiring Management Trainee Program Internship Program Training and development: Training sessions are conducted within the company during the working hours. Employees are sent abroad (UK) for training/development. Training workshops are conducted from time to time. Performance Management: Performance appraisals are conducted on every 06 months basis. Mid year salary increments and promotion can be done on the basis of any previous commitment and performance during the period. Reports are formed, analysis work is done. Performance appraisal is carried out with the following objectives Employees are appraised on half yearly basis to check their current progress. Training needs of employees are identified for their career development. Need for compensation and reward is highlighted. ERM: ERM is much important part of HR functions. Employees are kept in contact so that their problems will be understood and (if possible) solved. So that they will work with consistency. Creating Job Satisfaction for employees: The employees satisfaction is catered in the following ways Employee Job Satisfaction Surveys Market Surveys Salary Structure Benefits/Perks Working Environment Growth Trends Job Security Demand and Supply Analysis of Resources Competitors SWOT Analysis EHS (Environment, Health Safety Management: NetSols businesses are environment friendly on the other hand it gives the facility of reimbursements for medical, transport, and other charges. Relationship Management: HR promotes sound relationships among all the NetSolians. The Relationship Management Program includes: Conclusion This chapter was about business operations of NetSol. How NetSol is competing with its competitors and what is its marketing and competitive strategy OF NetSol. In the next chapter, I will converse about my learning as a student intern. CHAPTER NO 3 LEARNING AS A STUDENT INTERN Outline In this chapter, I will discuss about my duties during internship at NetSol. My accomplishments, new knowledge I have gained during practical experience in a company of world repo, problems which I encountered in the way of completion of my internship are briefly discussed. In the end of this chapter, I talked about my experience and how this experience will impact my career in the future life. 3.1 Duties I worked in the HR department in the company for six weeks. During this tenure I was responsible for assisting the HR/Admin officer Momina Raza Abbasi in all her duties, she is responsible to perform, which includes reimbursements management, attendance management for this purpose using the eRMS, assisting In the process of hiring (scheduling interviews, making interview calls, conducting tests, marking them etc.) And the admin tasks include providing stationary, forwarding complaints of machine or other equipments if not working or need to be repaired or replaced. 3.2 Accomplishments It was a great time for to work in NetSol. The team I was working with was very friendly and cooperative they helped me out in all this process. Whenever I need help there was no one to refuse it. I did the following tasks assigned to me by my boss well in time to show my enthusiasm. Reimbursements were filed well in time. I updated the attendances using eRMS whose requesting mails were received by me. I made interview/test calls to the applicants. I prepared word documents and ppt. slides for the training session. I catalogued the library books and maintained it also kept the record of it. I fevered the complaints of employees to the concerning departments. I was involved in the organizing the parties held in our departments. 3.3 New knowledge Acquired I had an opportunity to view the practical working of the organization spatially its HR department. I had practical implication of my theatrical knowledge. During my internship I had an opportunity to understand the environment of the organization by practical experience. Assignments and projects helped me to complete the assignment of preparing the training material. Subject BC helped me in every line because it was a training to improve the communication skills. HR courses were all the way with me as my whole internship was in HR department. 3.4 Problems Encountered Although internship in NetSol was a wonderful experience but I faced some problems during my internship. All the people there in the organization were from top institutions and highly qualified so I felt a bit confused, there was an issue of privacy there in the organization so they did not permit me to all the sectors of HR. On the other hand they are preferring three months internship in which the deal the intern as an employ, this is not the case with six weeks internship. 3.5 How Experience Impacts your Career Before the internship I had only theoretical knowledge not the practical, but now I have work experience of six weeks. I have an opportunity to remove my weaknesses I have seen during the internship so I will be able to better groom myself during last semester. When I will go back to the field I will be a strong candidate. Conclusion Glossary NASDAQ (North American Stocks, Dividends, and Quarterlys) 2 DIFX (Dubai International Financial Exchange) 3 CMMI (Capability Maturity Model Integrated) 4 SWOT (Strength, Weakness, Opportunities, Threats) 5 KSA (Knowledge, Skills and Abilities) 6 ERM (Employee Relations Management) 7 EH SM (Environment, Health Safety Management) 8 ERMS (Environmental Remote Monitoring Subsystems)