Internship Project - an Experience with Joongangilbo ITEA - Case Study Example

here] here] of INTERNSHIP PROJECT REPORT An Experience with Joongangilbo ITEA: Publishing Company Executive Summary: Internship projects are an absolute collaborative between the academic and business communities, providing students with a professional working experience, while allocating employers (internship providers) to meet their staffing requirements, at the same time. Internships provide students an excellent opportunity to discover and spell out their career choices and ambitions. Joongangilbo ITEA is a well-known print media and publishing company based in Korea. It is offering small-scale, free and confidential internships in order to increase the awareness of leadership, marketing, entrepreneurship, etc in the employees and expand their solutions. These skills, when ignored, often result in serious management problems and above-board consequences. The internship will educate employees about their corporate responsibilities and market set-up, while providing them financial assistance. By doing so, Joongangilbo ITEA will prove to be a valuable resource to small businesses and employees within Korea, because it will act as a publishing consulting agency by providing accommodating solutions to many employees from small enterprises for free.The evaluations will serve to encourage those facilities already in compliance that they are carrying out in their business practices in a business and ideally educational environment, and will propose instant changes for those facilities that are not complying with the corporate and work ethic values. The study will serve as a model for accounting and secretarial facilities all over Korea, and will identify problem areas in business compliance. Introduction/Background: The Internship program in Joongangilbo ITEA is designed as a connection between the publishing industry, small businesses and its employees within Korea with the ultimate goal of improving corporate concepts of leadership, marketing, entrepreneurship and acquiescence. The program is supported by the Department of Labor as an effort to train employees from small businesses. Approach/Methodology: To help facilitate in training the participants, Joongangilbo ITEA requires some places that can be utilized as workshops. The company's headquarters are situated in Seoul, the capital city, while five other campuses are in other major destinations. The workshops are generally organized in the head office; however special courses can be accommodated upon demand. Details of Work Accomplished/Project Results: I had an internship with a company called Joongangilbo ITEA. Joongangilbo is one of the most famous and biggest newspaper publishing companies in Korea and Joongangilbo ITEA is its subsidiary. The company functions as an educational organization as well and provides different types of educational programs to people who wish to gain knowledge of useful business concepts. Among lots of department, I was assigned to a department that arranges the educational workshops for employees from small and intermediate level companies. This, in turn, provides better prospect for their business sector. Actually, my department was supported by the Department of Labor, and aimed towards educating employees of small and medium enterprises on different themes of leadership, management marketing, advertising, entrepreneurship, etc. The Department of Labor pays for the education fee and compensation for every participating member of the internship project. As a result, the company achieves a positive end by having a large number of participants and well-estimated costs of education and training session. On the other hand, The Department of Labor limited the number of internship participants to 36 per class. For this reason, the Joongangilbo ITEA makes break-even with 30 participants in the whole project. Consequently, good marketing, financing, and accounting should be accomplished for the company to yield some profits. In order to assemble and train all the internship participants, the company obviously requires some places that can be used as class rooms. The company's main office lies in the capital, Seoul. In addition, five other branches are located in other major cities of Korea. The classes are principally held in the head office; however when a large number of participants living in other major cities prefer to have class near their workplaces, the company plan and direct classes there as well. When the classes are held in those cities, participants and trainers in the head office are supposed to pay a visit for supervising the project classes. It would have been a great experience if I could go there with my trainer or supervisor because he was an extremely wonderful guy. For assuring the quality of the project classes, hiring knowledgeable teachers is of extreme importance. Participants from various companies will assess the quality and decide if they are going to recommend our company to other employees in their workplaces. Added to this point, there are about four more companies that are operating in the same industry. As a result, the overall scheme has become pretty competitive and ready for action. Among its competitors, Joongangilbo ITEA was the top company with the highest number of participants. Therefore it was a good chance to inspect how the best company is actively engaged for maintaining its standards. Actually I acquired this internship by a change. It was summer break 2007. As always, I went back to my country, Korea, during the break. One day, I visited my father's for some purpose. At that time, my father and the president of the Joongangilbo ITEA were having some tea and snacks. Therefore, my father introduced me to Mr. President and we talked about my study abroad, in the United States and my future plans, in an informal way. After that, the president of the Joongangilbo ITEA asked me if I had an internship before. I never had an internship previously so I replied in a negation. Subsequently he asked me to come to his with curriculum vitae on the next day. Hence I brought my resume to his office and he gladly permitted me for an internship position. Form there, a supervisor took me inside and taught me about the company and its history. Also, the work I was supposed to do there and the working ethics of the office and etc. etc. He told me if I would like to have an internship there, I am supposed to work 10 hours a day for 2 months, starting the following Monday. It was more than half of my summer break and the school just finished. I was kind of irritated when I heard that, but soon I realized that it was a great chance to experience a truly good internship. For this reason, I happily accepted the offer and started working from the next Monday. If I really think about it now 10 hours a day of work was a little bit touch, but it was worth doing rather than just hanging out and playing video games. There was a supervisor who trained me from the first day of my work. We did a lot of things together. We worked as partners. The first job I have done for the project was putting databases in proper order. I felt like they are testing me with it and tried my level best on every duty they assigned to me. In addition, the supervisor gave me a real work experience by taking me on some field trips. I went out couple of times with him. One day, the company invited a large number of managers from different small and medium companies to a breakfast. The company purpose was introducing the education and training the company provides to their employees. This seminar was held in the city of Incheon which is roughly 1 hour away from Seoul (if you find clear roads). However the traffic in Korea remains awful after 7 in the morning. Therefore, the next morning, we departed at 5 to be prepared before the meeting and avoid any possible inconvenience. The second day, I paid visit to an exhibition that displayed products related to small and medium companies. All those companies were the potential participants of our internship programs. Therefore, we spent our time there contacting the companies and meeting their representatives. We made every possible effort to give first hand information to every company that was there in the exhibition. As an intern, the company really provided with an opportunity to initiate and to organize a program new to my life of a congregation or agency. The final internship project was however evaluated both as to whether the intern demonstrated initiative and organizational skills. Practical Implications of Accounting & Finance in Publishing: 1) Handling accounting for books: For every single book-whether it is a complimentary copy or wholesale or retail piece, you should keep track of where each one goes. You must know how much you spend on every book project, from acquisition costs (if there are any) to book design to printing and freight. There are expensive applications for publisher accounting. Some of the most famous accounting softwares are Publisher's Assistant and JAYA123. It is very important that you maintain careful records of your inventory, orders and invoices, both for your own fiscal sanity and for the IRS. 2) What is an Invoice Each book must have a slip to show where it went. An invoice show the name, address, terms, invoice number and the purchase order number of your customer. You will find places to show how many and what books were ordered, how they were shipped and what amount of discount was granted. 3) What is a Purchase Order A PO (an abbreviation for purchase order) is what a wholesaler; library or bookstore records you to order a certain book. The request is typically written on paper and sent in by mail, fax or e-mail. This will give you the purchase number, which you should insert on the invoice and on the shipping label when you ship. In addition, P.O. also provides the estimated discounts and shipping processes. Proposals for future projects: All aims and objectives of the internship project were achieved; consequently I do not have many proposals for modifying the program. On the other hand, I think that the work environment training benefits of the program would be greatly enhanced if the inspections were implemented on random facilities based on the emergence of the facilities. Overall, it was a rewarding experience. Read More