Collegebusinessstudiesprogramprojectmarblestone representing.pdf

Business Studies Project about case studies on marble and stonex

1. Shri Ratanlal Kanwarlal Patni Girl’s College, Kishangarh






Department of Management


A PROJECT REPORT ON

“ Human Resources Acquisition”
Reference to Stonex India Pvt. Ltd.
Submitted
IN PARTIAL FULFILLMENT OF THE REQUIREMENT OF THE AWARD
FOR THE DEGREE of
BACHLOR OF BUISNESS ADMINISTRATION
UNDER THE GUIDANCE OF
DR. Puneet Tak
(Assistant Peofessor)
Department of Management . SRKPGC, Kishangarh
Submitted BY
Ms. Anshika Gurjar
Scholer No: - 1923
B.B.A. Part Ⅲ Semester 5
th

Session – 2024-2025
Shri Ratanlal Kanwarlal Patni Girls’s College, kishangarh




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2. ACKNOWLEDEGEMENT


First, my immense gratitude to Ms Niharika sharma ,
Assistant professor , SRKPGC, Kishangarh , the source of
Knowledge and wisdom to humanity, who conferred me with
Power of mind and capability to take to take this material contribution
To already existing knowledge all praises and love to him
Who is an everlasting light of guidance to the right path for humanity.
I would take the chance to thank my family, without them my bachelor’s
Degree studies wouldn’t be possible. Special thank to my brother
Anmol sahu for her continuous support and encouragement
throughout my bachelor’s degree.
Would like to give thanks to Ca shubash Agarwal, director
And secretary, SRKPGC, Kishangarh, thank member of
Human resources team for their immense support and hard work
During this traing period of 30 days. They always made me
Feel as a part of the organization.
I would like to thank entire stonex team members,
Who helped and guide me in completion of summer internship report.







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3. ABSTRACT
The study sought to investigate human resources acquisition
with Special reference to stonex, kishangarh. human resouces
acquisition Is a strategic process that involves identifying,
attracting, selecting , And onboarding qualified individual to
meet organization needs. This process is integral to ensuring
that a company has the right Talent to achieve its goal and
maintain competitive edge. Key components includes workforce
planning, job analysis, Recruitment strategies, selection
techniques into the company Culture. Stonex hr members use
to do effective hr acquisition Which aims to align talent with
Business objectives, enhances Organizational performances,
and foster a positive workplace Enviornment.
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4. DECLARATION
I hereby declare that the dissertation titled“ human
Resources Acquisition” is my original work with
special reference to stonex pvt. Ltd. Kishangarh.
It has been conducted for partial fulfillment of the
Degree of bachelor of business administration in college
Of shri ratanlal kanwarlal patni girl’s college, kishangarh
Which is completed with the help of managing staff of
Stonex pvt. ltd.


Date: signature of the student
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5. EXECUTIVE SUMMARY
The internship program is an integral part of the BBA program for all the
Students. As it is a part of the internship program, the report is prepared
on “Human resources acquisition: Stonex India private Ltd”.

The goal of the human resources acquisition strategy is to attract, recruit,
and retain talented individual who align with the company’s goals and
Culture. This involves identifying necessary skills, engaging diverse
Talent pools, and ensuring efficient hiring processes.

Acquisition of human resources is the process by which a firm hires
Employees to ensure that the number and types of employee are
Available to perform organizational objectives successfully.

The report begins by defining acquisition and highlighting its importance
for a business. It then explores the steps involved in acquisition process,
Including finding, attracting, hiring new employees.

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6. TABLE OF CONTENTS
.
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7. .
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8. CHAPTER 1

COMPANY PROFILE
Stonex India is a leading manufacturer and exporter company of natural stones. Over 500 imported marble
and stones varieties curated from the world over and are processed at one of Asia’s finest manufacturing
facilities. A luxury collection of white marble, granite, travertine, onyx, limestone, and semi-precious
stones.


Stonex set sail in 2001 with a dream to create a monumental organization. Today as we cross the 8 million
sq.ft. sold in a year milestone, our promise of offering the finest stones stronger than ever. In our pursuit to
offer excellence at every step from procurement to processing, we add much value to a natural marvel – the
stone.


Our main focus has been to build a remarkable culture and commit to integrity. We are creating a strong
habit of innovation, elevating project standard, embracing technology, fostering transparency, care , and
consciousness. Our passion for exploring the world’s best business practices motivates us to achieve greater
height every single day.

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9. The color blue stands for our personalized services and the dedicated Relationship we share with our costumers, while purple color stands
for our rare and luxurious stone collections.

Our SRS process protects the structural quality of marble, Making it 20% stronger, 30% more shine, and resulting in 10% less wastage.

TIMETRAVELL
Inception in 2001
Establishment in 2003
First employee in 2005
100% imported marble in 2007
1 million sq.ft. sold in 2009
Experience center in 2011
2 million sq.ft. Sold in 2013
Pan india expansion in 2016
Asia’s finest marble factory in 2018
300 cr. Turnover in 2020

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10. OVERVIEW OF COMPANY

How three youth started with Rs 9 lakh loan and built a Rs 300 crore marble company
Three boys from a family of small time paper traders switch to selling marbles but scale up their business rapidly with a unique vision and a keen
eye on emerging markets that their company, Stonex India, whose turnover now hovers at Rs 300 crore, is poised to become an international brand.

Stonex is already a trendsetter in India, having introduced high quality marbles in seductive colours like Burberry Beige, Giorgio Armani Bronze,
Burberry Grey, Casanova Beige, Statuario White and so on, and the founders, too, lead a high-flying lifestyle.









But they are only too proud to recollect their humble past. “We lived in a single room rented flat till 1990 when our father bought a 2 BHK flat
where we siblings shared a single room. We couldn’t afford family holidays and even gave excuses to our friends for school excursions,” says
39-year-old Gaurav Agrawal.
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11. But they are only too proud to recollect their humble past. “We lived in a single room rented flat till 1990 when our father bought a 2 BHK flat where
we siblings shared a single room. We couldn’t afford family holidays and even gave excuses to our friends for school excursions,” says 39-year-old
Gaurav Agrawal.



He, along with younger brother Saurav Agrawal (37) and cousin Vikas Agrawal (40), entered the marble business in 2001 with an investment of Rs 9
lakh, by renting a 300 square feet shop at Delhi’s Rajouri Garden.


Earlier, the young cousins were helping out their fathers in the family’s paper trade, which was operating from Chawri Bazar, under the banner Chirnaji
Lal Sons. It was a meeting with a maternal uncle of the Agrawal brothers that changed their life.
Cousin Vikas Agrawal, who clearly remembers the meeting, says: “The uncle, who had a marble factory, ‘Kushalbagh Marbles’ at Banswara in
Rajasthan, suggested that we do something different as the paper trading business did not have much scope. So we visited his factory and then decided
to open the shop in Delhi.


“We took a loan of Rs 9 lakh from our father and started working hard. Our father also gave his scooter, which the three of us rode to visit various
clients, to travel for work and everything else,” says Saurav Agrawal, who now drives a BMW.



In June 2002, they opened another outlet, ‘Saraswati Marbles’, at Mangolpuri, another renowned market in Delhi and Vikas
Agrawal took over its day to day operations.
“In those days we would cut costs in every possible way. When we had to travel to Kishangarh and Udaipur in Rajasthan, we
would travel by normal buses that charged Rs 250 for a seat instead of buying a sleeper bus ticket for Rs 450,” recalls Gaurav
Agrawal, the youngest founder who now flies business class.


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12. Saurav Agrawal, the youngest co-founder of Stonex, looks after sales and marketing

When they went to Rajasthan, they would stay there for 15 to 20 days and do detailed research of the marbles they wanted to buy. Instead of going
through agents, they procured it directly from the manufacturers, which helped them choose the best quality.

“Within one and a half years, we were able to build a brand name and launched ‘Stonex’ in June 2003, which was a huge 2,000 square feet
showroom,” Saurav Agrawal says.

Besides buying their first car, a Maruti 800, in 2003, they bought their first godown in 2005 for Rs 80 lakh. Spread across 200 square feet, the same
godown in Delhi today has been converted into a showroom that houses Laminam ceramic slabs, and caters to an elite clientele.

From the beginning the promoters of Stonex understood the needs of customers and strove to fulfill them. As Saurav Agrawal says, “We were
customer centric and understood that people who are making their houses are investing not just their money but also emotions.”

The stress was on working as consultants, and not vendors, imparting knowledge to the customer to help them make the right choice. The approach
helped with satisfied customers spreading the news through word of mouth, thus bringing more clients to them.

Vikas Agrawal remembers his first business bloomer: “A client asked me to cut various sized marble slabs, which I promptly did but charged him only
for the slabs he bought. The wastage is normally borne by the customer, but in this case I ended up bearing the loss.”


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13. Gaurav Agrawal, the visionary in Stonex, visited Turkey in 2006 and initiated the import of marbles for the company
In 2006 they shut the shop in Mongolpuri as the Rajori Garden outlet was doing fairly well, while the Mongolpuri clientele wasn’t up
to the mark. But that year was a watershed in the history of the company.

“In 2006, Gaurav went to Turkey on his first international trip, and we imported our first consignment that was sold out in a month
earning great profits,” says Saurav Agrawal about their first big jump.Soon they realised that demand for Indian marble was going
down with clients preferring imported marble. So, they closed down the Indian marble business in 2008 and scaled up import.

Then came the boom time in 2008-2010 when Delhi was upgrading its infrastructure, building more hotels and other amenities to host
the Commonwealth Games 2010.A major turnaround for Stonex came when Hotel Country INN, Sahibabad, ordered marbles worth Rs
5 crore.

Stonex was recognised as a trusted vendor in terms of quality and price and called to do projects with more than 100 hotels, thus
enabling it to establish itself as one of the big players in the marble industry.

“In 2008 we expanded our team from 15 members to 50 and also bought a space of 250 square metres to construct an aesthetically
designed showroom, where every sample can be seen, touched and felt,” says Saurav Agrawal. “We built model bathroom, kitchen,
toilet and staircase to showcase the final result of using a particular type of marble.”

While other vendors stored marble in open space Stonex was building an air-conditioned covered space. The showroom had a special
lift to carry the marbles to second and third floors for storage.


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14. Vikas Agrawal handles the day to day operations at Stonex
When the showroom was inaugurated in June 2011, traders in the industry said we had gone mad,” recalls Saurav Agrawal. Finally the cousins laughed
all the way to the bank as the showroom became a trend setter in the industry, impelling others to follow suit and sales saw a 100 per cent growth every
year from 2011-14.

When sales crossed Rs 200 crore in 2015, the construction industry slowed down, forcing the cousins to innovate again. So, on August 1, 2015, Stonex
opened its first out of town showroom in Ahmedabad, from where clients had been coming to Delhi. In 2016, they targeted 14 other cities, including
Mumbai, Bengaluru, Hyderabad, Surat, Chandigarh, Ludhiana, Kanpur, and Lucknow.

They expanded the team from 50 to 150 in 2016 by hiring marketing staff and, for the first time, a full time HR head in the marble industry, which was
till then unorganised with people following old methods of business.

They also have one showroom for Laminam products, which is a slim porcelain type of flooring material. It is in fact a niche product that the cousins are
dealing with.

In 2017, they constructed a state-of-the-art fully automated plant in Kishangarh, Rajasthan, at a cost of Rs 100 crore. “The cost of our marble is 5 per
cent higher than the market rate. However the quality is unmatchable,” explains Saurav Agrawal.

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15. Vijay Maheshwari Regulate the day to day operation of manufacturing plant in kishangarh.
While Gaurav Agrawal, hailed as the visionary, looks after HR and new policy making of the company besides heading procurement, Vikas
Agrawal handles the daily financial management as well as sales in Delhi, NCR, Gujarat and Punjab. Saurav Agrawal, the youngest one, looks
after sales and marketing, and feedback coming from customers.

Vikas Agrawal did his BCom from Delhi University as a private candidate in 2000 before joining the family business, while the Agrawal
brothers too started working young a year later – Saurav at 17 and Gaurav at 19 - as their father had met with an accident.

Gaurav Agrawal was pursuing BCom through correspondence course while the younger brother wanted to join IIT. He had even cleared his JEE
prelims. Though the two brothers understood the predicament of their parents and did not complain about the lack of luxuries they gave a
protected childhood to their little sister Shailja Mittal, who is the founder of Koala Cabs that has created a niche in the Delhi cab market.

While they all enjoy comfortable and luxurious holidays with families, they haven’t forgotten their roots. Gaurav Agrawal starts off: “Our
mother has been the guiding light of our life. She has kept us grounded and ensured that we never over spend. Today with enough money in
hand, we still don’t splurge.”




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16. The Agrawal brothers have reasons to smile as they inch towards their goal of making Stonex a global brand
Saurav Agrawal considers his BMW the most prized possession. “This was one thing I really wanted to buy. Since I am the
pampered youngest one, my elder brothers happily obliged.”

But the brothers prefer home cooked meals even in office. “With a small kitchen in every office, we eat and share our food,” says
Gaurav Agrawal.

When they had started, they could hardly afford to pay salary for one employee. Today they employ 400 personnel all over India.
With a vision to make Stonex a global brand, the brothers have their eyes firmly set on the next goal.

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17. What is Training And Development?
Employee Growth: Training and Development
Organizations invest in training and development to equip their employees with the knowledge, skills, and
attitudes needed to excel in their current roles and prepare them for future career advancement.
Training: Focused on acquiring specific skills and knowledge for a particular job or task. This is
typically short-term and improves immediate job performance. Examples include formal courses, on-
the-job training, or coaching sessions.
Development: Takes a long-term approach, focusing on an employee's overall career growth. It goes
beyond the current job requirements and equips them for future roles or advancement. This may
involve acquiring new knowledge, developing leadership skills, or fostering a growth mindset.
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18. Boosting Performance: Training and Development
Training and development (T&D) equips employees with the knowledge and skills needed to excel in
their roles. Through various tools and activities, T&D programs enhance employee performance and
motivation, ultimately benefiting the company.
Training and development can be
broken down into two parts:
Training and development (T&D) is a core function of Human Resource Management (HRM). It's
a system for educating employees within a company to enhance their performance. Through various
tools, instructions, and activities, T&D programs equip employees with the knowledge and skills
they need to excel. This not only benefits the company but also empowers employees with
opportunities to grow their skillset.
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19. The training and development process
The training and development process is a systematic way to improve an
organization's employees' knowledge, skills, and abilities. It can help employees
perform better at their jobs and prepare them for future career growth. The process is
continuous and requires careful planning and execution. Here are some steps you can
take to develop a training and development process:
Identify needs: Assess the gaps between the organization's current and desired state.1.
Set goals: Define specific objectives for the training.2.
Plan: Decide on training methods and develop a detailed plan.3.
Implement: Deliver the training program.4.
Evaluate: Review the results of the training program.5.
Monitor: Track performance to ensure continued effectiveness.6.
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20. IMPORTANCE OF TRAINING PROCESS
Training allows employees to acquire new skills, sharpen existing ones, leading to improved performance,
increased productivity, and the development of stronger leadership qualities.
New Hire Orientation
Training is particularly important, especially for new employees. This on-boarding process, often conducted
by someone within the company, serves as a platform to get new hires up to speed with the company's
processes and address any initial skill gaps.
Tackle shortcomings
Recognizing that everyone has areas for improvement, training and development empowers employees to overcome
shortcomings. At RateGain, for instance, we tailor training programs to specific needs by dividing our workforce into
groups. This allows us to offer focused training relevant to each group, such as sales training, programs for first-time
managers, development for middle management, and leadership training for senior and executive levels.
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21. Improvement in performance
Absolutely! Addressing shortcomings and weaknesses through training and development undoubtedly leads to improved employee
performance. However, the benefits go beyond just fixing weaknesses. These programs also serve to amplify existing strengths and
equip employees with entirely new skill sets, making them even more valuable assets.
Employee satisfaction
Investing in training and development is a strong indicator of employee satisfaction. However, the key lies in ensuring the training is
relevant and impactful. Employees need to see a clear connection between the training and their daily work, and feel they can walk
away with valuable takeaways to improve their skills and performance.
Increased productivity
In today's fast-paced environment, employee productivity depends not just on their skills, but also on the technology they
utilize. Effective training and development plays a crucial role in ensuring employees stay up-to-date with new
technologies, allowing them to leverage them effectively, optimize existing tools, and identify outdated practices that
hinder efficiency. This comprehensive approach empowers them to work smarter, not harder, and achieve optimal results.
Self driven
Employees who undergo the right training require less supervision and guidance. Effective training equips them with the necessary skill
sets to tackle tasks independently and make informed decisions, reducing the need for constant oversight.
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22. TYPES OF TRAINING
Induction or Orientation Training:
This program introduces and familiarizes new employees with the organization, its procedures, rules, and regulations.
It helps them feel welcome, informed, and prepared to contribute to the company's success.
Job Training:-
It relates to specific job which the worker has to handle, it gives information about machines,
process of productions, instructions to be followed, methods to be used, and so on.
Internship Training:-
In this method, an educational institute collaborates with an industrial enterprise to provide students
with practical knowledge and experience relevant to their field of study.
Refresher Training:-
Refresher training is specifically designed for existing employees. Its core purpose is to keep the workforce up-to-date with the latest methods and technologies
relevant to their jobs, ultimately enhancing their efficiency. As Dale Yoder aptly stated, "Retraining programs are designed to avoid personnel obsolescence."
This ensures employees maintain their valuable skillsets and remain adaptable in an ever-evolving work environment.
Training for promotion:-
High-potential employees can be identified and given targeted training to prepare them for promotions to higher positions within the
organization. This not only develops their skillsets but also strengthens the company's internal talent pipeline.
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23. RESEARCH METHODOLOGY
This report is based on primary as well as secondary data, however primary data collection was given more importance since it is a key
factor in attitude studies.
One of the most important uses of research methodology is that it helps to identify problems, collect and analyze the required information
or data, and provide alternative solutions to problems.
It also helps in collecting vital information required by top management to assist them in better decision-making, both for day-to-day
decisions and critical ones.
Research methodology refers to a systematic approach used to conduct research and involves the techniques and procedures for collecting
and analyzing data.
Secondary data
Secondary data, collected from sources like scientific articles, textbooks, journals, published and certified reports,
internet websites, past studies, and more, offers a cost-effective and time-saving alternative to primary data collection.
These readily available resources, such as government publications, business records, media archives, online
databases, and historical records, can provide valuable insights without the need for conducting new surveys or
experiments.
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24. Probability Sampling
In training and development, probability sampling involves selecting participants
such that every employee in the population has a known and non-zero chance of
being chosen. This method ensures the training evaluation sample is representative
of the entire workforce. This, in turn, enhances the reliability and validity of the
evaluation results, leading to more accurate conclusions about the effectiveness of
the training program.
Non-Probability Sampling:
A Quicker Approach
Non-probability sampling, in training evaluation, involves selecting participants in a way that doesn't guarantee an
equal or known chance of participation for every employee. While this method can be faster and easier to
implement, it may introduce bias into the results. This means the sample may not accurately reflect the entire
population, potentially affecting the validity of the evaluation.
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25. Objective
Training and development serve as a cornerstone for organizational growth by enhancing the effectiveness of individuals, teams, and the
entire organization. This is achieved through targeted efforts to improve their skillsets and knowledge base. Here's a breakdown of some
key objectives that training and development programs aim to achieve:
Employee performance
Training can help employees perform better by increasing their skills and knowledge.
Productivity
Employees with the right skills and knowledge are definitely more efficient. This efficiency translates into higher productivity and
profitability for the company.
Employee morale
Training and development can absolutely boost employee morale and engagement, which can lead to higher job satisfaction and lower turnover rates.
Customer satisfaction
Customers who feel they receive great service from knowledgeable and friendly agents are more likely to spend more money. Training and development can
help employees grow and advance their careers, and can even lead to the production of future leaders.
Career Advancement
Training and development can absolutely boost employee morale and engagement, which can lead to higher job satisfaction
and lower turnover rates.
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26. Limitations Faced During Training & Development
Time constraints
Taking employees away from their regular duties for training can affect productivity and profits.
Resistance to change
Employees may resist change due to fear, lack of understanding, or concerns about workload or job security.
Global workforce
Training may need to be delivered globally, taking into account language and cultural issues.
Standardization
Training can be inconsistent, especially in large corporate environments.
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27. Microlearning platforms
These platforms can make the learning process more enjoyable for employees and can be used in different training scenarios.
Authoring tools
These tools can be software or online platforms that allow you to design and develop courses for online training.
Project management tools
These tools can simplify and make the project management process more efficient, and can also be used for training and education.
iSpring Suite
This all-in-one training course development tool focuses on training based on visual and interactive elements, and can easily integrate into
PowerPoint.
Online course providers
These online platforms can create and house training videos and educational content that can be accessed by companies or individuals.
Assessment tools
These tools can be used to maximize learning, motivate students, and improve their performance.
Docebo
This software can be used as a full training tool for service learning platforms, allowing you to build and handle courses, tests, groups,
conversations, and forums.
Tools Used For Training & Development
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