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Final Term Report

On
Texlynx Global Pvt. Ltd.
For the course
Principals of Management – BAF-3101

Course Instructor:
Sir Muhammad Waqar Ashraf

Submitted By:
Muhammad Tahir (0971-BH-BAF-20)
Zain Ul Abideen (0903-BH-BAF-20)
Imtiaz (0911-BH-BAF-20)
Bilal (0000-BH-BAF-20)

BSc. (HONS.) BUSINESS, ACCOUNTING & FINANCE

Session 2020-2024 | Semester V | Section A

Dated: December 26th, 2022.

Government College University, Lahore
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STUDENT DECLARATION

We hereby declare that the work presented in the project in the report entitled

“PRINICIPLES OF MANAGEMENT FINAL PROJECT” in partial fulfillment of the

requirement for the award of degree of “BS Business Accounting and Finance” in

Government College University, Lahore is record of our own work.

Further, we declare that this is our original work and the analysis and the findings

are for academic purpose only.

DATED: December 26th, 2022

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ACKNOWLEDGEMENTS

With immense pleasure, we, Mr. Tahir, Zain , Imtiaz, Bilal , present “Principles of

Management Final Project Report” as a part of the curriculum of ‘BS Business

Accounting and Finance’. We wish to thank all the people who gave us unending

support.

We express our profound thanks to Professor Dr. Waqar Ashraf, our course

guide and mentor. And all those who have indirectly guided and helped us in

preparation of this report.

Name of the Students:

Muhammad Tahir
Zain ul Abideen
Imtiaz
Bilal
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DEDICATION

We dedicate this report first and foremost to Almighty God who has been there

right from the beginning to this very point. Special dedication also to my ever-

supportive parents, for their relentless support and compassion towards me

during my degree.

Furthermore, I want to dedicate this report to my professor for their continual

impact of knowledge.

To God is the glory.

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Table of Contents:

S.No Contents Page no.

1 Executive Summary 06

2 Chap 1: Organization of the Report 07-11

3 Chap 2: Organization Profile 12-13

4 Chap 3: Interview, Transcription, and Thematic Analysis 14-18 26-29

5 Chap 4: Overall Management and Planning at the Company 19-20 30-31

6 Chap 5: Organizing at the Company 20-22 31-33

7 Chap 6: Leading Function at the Company 22 33

8 Chap 7: Controlling at the Company 23 34

9 Chap 8: Summary of the Report 34-35

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EXECUTIVE SUMMARY

Texlynx Global Pvt. Ltd. is a textile sourcing firm specializing in home textiles that

provides services designed for specific needs. The company is organized in a

hierarchical manner. Bedding, bath, towel, and kitchen items are among their

most popular products.

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Chapter 1: Organization of the Report

1.1 Introduction of Report/Project:

This report is prepared on the basis of the interview we took from Texlynx Global Pvt. Ltd.
We have highlighted their goals and objectives, their planning, management and marketing
strategies, their behavior regarding employees and the benefits they provide.

1.2 Scope of the Report:

The goal of this project is to get practical knowledge of the corporate world. Our goal is to
provide Texlynx framework that is genuine. The scope of the report includes everything
from the introduction and planning to the appraisal system and control mechanisms.
Furthermore, we anticipate that this study will provide significant information and insight
into the organizations’ work ethics. Our conversation with Texlynx's CFO resulted in the
creation of the report.

1.3 Objectives of the Report:

This report is providing a complete outlook on how successful businesses operate their
activities through setting up their goals and objectives and making proper planning,
management and marketing strategies. Moreover, their behaviors, organizational culture,
working and motivation of employees are also being looked upon. Main contents covered
are as below:

 Management
 Hierarchy
 Business Brand Portfolio
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 Planning
 Goal Setting
 Devising and Implementing Strategies
 Structure of the Organization
 Source of Motivation for Employees
 Leadership Styles
 Control Mechanism
 Performance Management

1.4 Sources of Information:

All the information in this report is collected by the interview we have taken from the CFO
of Texlynx. The website of the mentioned company is below:
https://Texlynx.com/

1.5 Data and Details of Visit of the Organization:

Texlynx Global Pvt. Ltd.

We visited Texlynx Company on 26thth December, located in 7-P Model Town Ext, Near
Nespak House, Lahore. We interviewed CFO of the company named Mushtaq Nasir. We
were provided all the necessary information of their organization.

1.6 Visiting Card Copy of the Interviewee:

Texlynx Global Pvt. Ltd.

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(Front Side) (Back Side)

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INTERVIEW PROTOCOL

Date of Interview 26thth December

Interviewer name Tahir, Zain , Imtiaz, Bilal
Interviewee name Mushtaq Abdul Nasir
Qualification of MBA
interviewee
Designation of Interviewee Chief financial officer (CFO)
Since how long serving the 7 years
company?
Career experience 22 years

Name of organization Texlynx Global Pvt. Ltd.

Sector ⊡ Public ⊡ Private
Is it an EEO organization? ⊡ Yes ⊡ No
Nature of Business Sole Proprietorship
Head office location 7-P, Model Town Ext, Near Nespak House، Block P Model Town,
Lahore, Punjab.
Number of employees 65
Majority employees are in ⊡ Boomers ⊡ Xers ⊡ Millennial
which age?
Top level management ⊡ Boomers ⊡ Xers ⊡ Millennial
Organizational structure ⊡ Team based ⊡ Formalized ⊡ Mixed
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Chapter 2: Organization Profile

2.1 Organization Background:

Texlynx was established in the year 1997 and is Pakistan’s one of the prestigious textile
sourcing company. They have an annual turnover of US $50 million plus. They have our
major presence in countries like Bangladesh, Dubai, Spain, USA and Canada, Denmark,
Portugal, UK and France. They export yarns, finished fabrics, garments and home textile
products for a vast number of customers around the globe. The company has exceptionally
high merchandising and quality parameters with a clear perspective of meeting its
customer’s needs.

They offer a wide range of services to the clients. They believe in delivering quality and
flawlessly follow up all the customer’s product development. At Texlynx, they continuously
are in search for new and ingenious ideas for the customers. They also collect varied
products from all over the country. The company has a very active vendor base which gives
it competence to source various home textile items at competitive prices with high quality.
The thing that makes them stand out is the way they work; they have a personalized team
which takes care of each customer needs, like product sourcing, inspections, compliances
etc. They call it SBU i.e. Strategic Business Units designed exclusively for each customer.
They have a team which follows up a customer’s order right from development till its
shipment. All their audits and QC inspections are tailored and carried out in accordance with
the customers specifications.

Texlynx’s dominion extends to the HR sector of Pakistan’s textile industry. Their exclusive
management training program offers practical training to young textile graduates. After the
completion, they are assessed and are placed in different textile industries on Texlynx’s
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reference. They have a specialized consultancy and advisory services offered to both the
customers and the vendors on issues such as product quality, cost rationalization etc.
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2.2 Key Facts About the Organization:

The company’s name is Texlynx. The main business of the company is home textile. Texlynx
is a sourcing company which provides services that are customized according to your needs,
the broad categories that our services can be split into include buying services, consulting &
brand development, and quality management services.

2.3 Organization Vision:

Our vision is to be your sourcing partner of choice.

2.4 Organization Mission:

Our mission is to allow you dedicate your time to focus on greater strategic objectives while
we take care of your day to day operations.

Chapter 3: Interview, Transcription and Thematic Analysis

3.1 Here transcribe the interviews and generate themes from them.

Q# Question Interviewee’s Response Themes derived

1 Tell us The company’s name is Texlynx. The main Texlynx is a sourcing

something business of the company is home textile. company, it deals with
about your Texlynx is a sourcing company which home textile and
company. provides services that are customized provides services that
according to your needs, the broad are customized
categories that our services can be split according to your
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into include buying services, consulting & needs.

brand development, and quality
management services.
2 Tell us about The company follows hierarchal structure The company is
your where We have a founder of the organized in a
Organizational company Mr. Imran Latif as CEO. Under hierarchical manner.
structure? him there are two divisions of director
one of them deals with US department
while the other deals with Europe
department.
3 What’s the Our main product involves home textile Bedding, bath, towel,
main product including bedding (comforter, sheet set, and kitchen items are
of your quilt set, duvet set etc.) bath (bath robe, among their main
company? towel, shower curtain etc) and kitchen products.
item (oven mitt, kitchen towel, table
cloth, table runner, etc.

4 Tell us Each year our budget is calculated on oct Texlynx’s annual

something and November for the upcoming year budget is prepared in
about the which involves input of each department the months of
planning of and that is approved by the board after October and
your company reviewing. November.

5 Tell us When an order is received the planning The process begins

something starts from inquiring, we receive an with an inquiry from
about inquiry from the brand owner from the brand owner,
Planning abroad US or Europe, then we select the where we use our
process. best manufacturer in Pakistan with our criteria to find the
criteria who can offer the best price, best manufacturer in
quality and delivery according to the Pakistan who can
timeline without any delay. provide the best price,
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quality, and delivery

on time.

6 Who sets Collaborative efforts are involved in Collaborative efforts

goals and is setting goals,no doubt it’s the owner who are involved in setting
there any sets vision but any input added by goals,
involvement employees are also welcomed and
of appreciated.
employees?
7 Who devises The respective department devises the The strategies are
the strategies strategies in coordination with their devised by the
and goals team. respective
department in
collaboration with
their team.

8 Tell us Through international events where Marketing is carried

something owners and general manager participate out through
about your in that. In addition our clients help in international events in
marketing marketing purpose with the word of which the owners and
strategies? mouth. general manager take
part.
9 What’s the The major motivation is finances which is The main source of
source of definitely a motivation for our employees motivation is money.
motivation for
most of the
employees?
10 How does This is done through good salary package, Through a fair salary
organization annual bonus and increments. package, annual
take care for bonuses, and
the increments.
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motivation of
the
employees?
11 How The Respective department heads are Warnings are issued
controlling authorized to control by giving warning when the mistake is
mechanism twice to the employee and if mistake is repeated twice and a
work at your recurred then a notice is given to them. notice is issued if the
organization? mistake is repeated
thrice.

3.2 Summary of Findings:

Texlynx is a sourcing company specializing in home textiles and offers services that are
designed for specific requirements. The business is structured in a hierarchical structure.
Their major products include bedding, bath, towel, and kitchen items. In the months of
October and November, Texlynx prepares its annual budget. Their planning process starts
with a request from the brand owner, after which they apply their criteria to select the best
manufacturer in Pakistan who can offer the greatest pricing, quality, and on-time delivery.
In Texlynx strategies are defined by each department in coordination with their team.
International events are used to market the company in which the owners and general
manager participate. Money is the most powerful motivator for their employees this is
carried out through a competitive salary package, annual bonuses, and promotion
opportunities. They have bureaucratic control mechanism it works by proper rules and
regulations and giving warning letters if mistake is repeated and on the third attempt of the
mistake a notice is issued.
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Chapter 4: Overall Management and Planning at the Company

1.1 Management Organogram:

4.2 Management Structure:

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Their organizational chart follows hierarchical structure. Texlynx has chain of command,
which normally runs from senior management and executives to general staff. In other
words, Texlynx has a sole leader and a flow of subordinates underneath them.

4.3 Build a BCG matrix from the information provided by the interviewee.

Comforter set Sheet set

Strategy: Product Strategy: Market Penetration

Development

Shower curtains Face mask

Strategy: Diversification Strategy: Market Development

Chapter 5: Organizing at the Company

5.1 Various Elements of Structure:

Organizational structure aligns and relates parts of an organization, so it can achieve its
maximum performance. The structure chosen affects an organization’s success in carrying
out its strategy and objectives. The following section sheds light onto how the organizational
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structure at Texlynx is comprised by contributing to the six different components of

organizational structure that precisely make up an effective workplace.

1.1.1 Work Specialization:

Work specialization is a term used to describe the extent to which work is divided into
smaller units which is completed by a single individual. it includes division of labor in which a
single person completes repetitively a single step of the complete task. For example, in
Texlynx the staff dealing with product development would not be able to work in marketing
department.

5.1.2 Departmentalization:

The organization structure is divided into functional departments, here an organization is

divided into departments based on the functions that each one performs for the company.
As shown in the organogram above, the three main functional departments of texlynx’s are:

1. HR and Administration
2. Merchandizing Department
3. Quality Control and Inspection Department

5.1.3 Span of Control:

The span of control, also known as “management ratio”, refers to the number of
subordinates controlled directly by a superior. Texlynx being a sole proprietorship, contains
wide span of control, which means that a single superior oversees large number of
subordinates. It allows managers to have more direct reports and therefore, more control
over the work they produce. In this way, the top management is regulated over the
organization.

5.1.4 Centralization/Decentralization:
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Texlynx’s structure is centralized and slightly decentralized. The entire decision-making

authority is in the hands of the central management of the firm but any involvement by
lower level is welcomed and appreciated. The top management considers them only if their
suggestions seem feasible, so it can be said that the ultimate decision is taken by the top
management.

5.1.5 Formalization:

The company follows formalization where the worker knows exactly what is asked from him,
he cannot add any innovations to performing the task and there are several organizational
rules to follow and a given set of procedures to follow.

5.1.6 Chain of command

The company has long chain of command as shown in the organizational chart. The company
faces coordination issues between employees but the management is working efficiently to
resolve the communication gaps.

Chapter 6: Leading Function at the Company

6.1 How employees are motivated by the company?

Finance is the primary source of employee motivation. The company rewards them for their
efforts and hard work as well as take care of the staff by giving bonuses as incentives.

6.2 What is the way of doing thing of the boss?

The boss's manner of doing things is admirable. He creates a comfortable environment for
his employees by communicating effectively with them, motivating them, and listening to
their concerns and encouraging them. The ultimate authority of decision-making process lies
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with the boss. Therefore, it can be deduced that the company has autocratic leadership
style.
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Chapter 7: Controlling at the Company

7.1 How control mechanism is working at the organization?

As the scale of operations is large, bureaucratic control mechanism works at the

organization. This control mechanism is composed of some system of rules and procedure to
direct and influence the actions of sub-units.

7.2 Is performance management based on well determined standards or

practices and are the rewards linked with the performance achievement?

Yes, the employees are awarded promotions and increments on the basis of their
performance and vacancy of the post. They set objectives for the subsidiaries to meet in
order to attain the desired results in several departments. Productivity, profitability, growth,
market share, and product quality are all important factors to consider when evaluating the
output.

Chapter 8: Summary of the Report:

We conducted the interviews of two companies namely; Henkel’s Loctite and Texlynx Global
Pvt. Ltd. With respect to their management systems. Loctite deals with construction and industrial
adhesives and chemicals while Texlynx is a textile sourcing firm, specializing in home textiles. The
interview covers all the details of the two companies about their management, planning, organizing,
leading and controlling.

Texlynx was established in the year 1997, and in Pakistan, is one of the prestigious textile sourcing
companies. The company offers a wide range of services to the clients and are in search for new and
ingenious ideas for the customers.
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Management structure followed at Texlynx is sole proprietorship. Texlynx is large business that
consists of complex hierarchical structure and a long chain of command. span of control at Texlynx is
wide due to the complex hierarchy, meaning that employees are answerable to more than one person.
Moreover, further details of the management system at the company is outlined by types of work
specialization, formalization, departmentalization and centralization or decentralization are adopted by
the company through comprehensive sections for each element of the structure of organization.

The marketing strategies adopted by the company were also elaborated with respect to the products
they produce. Texlynx is only using IMC as it relies more on advanced technological ways. BCG matrices
the company were also illustrated to evaluate the strategic position of the business brand portfolio and
its potential to grow soon. The matrix of Texlynx shows that the Star Product is their high-quality
Comforter Set and they are adapting product development strategy to keep reaping profits from it.
Texlynx’s Face Masks were also introduced in the market but due to prominent competitors already
existing in the market, it is now a Dog. Texlynx is determined to divest from this product into their
Question Mark i.e., Sheet Set.

Furthermore, the leading function the company was discussed, and details were given on how they keep
the employees motivated and what kind of leadership styles are used. the company efficiently focus on
employee needs, evaluate their performances by well determined standards and practices and then
finally, give rewards when the desired level of performance is achieved. The leadership style being used
at Texlynx is autocratic approach. Texlynx uses bureaucratic control mechanism.

the company acknowledge a degree of sustainability in their business planning. Texlynx highlights that
ethical sourcing and sustainability in the textile supply chain is more important now more than ever. It
has encouraged its workers to invest in compliances that are good for everyone involved. For this
purpose, they are very careful in choosing their partners. By improving the product design and selecting
sustainable materials, manufacturers can make a difference – for the environment and for their
customers.