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Financial Performance of Bank of Baroda and HDFC Bank
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SRMSWCET
COMPETITIVE ANALYSIS OF ORIENT ACTUS
AIR COOLERS WITH OTHER BRANDS
ORIENT ELECTRICALS
Submitted By
Mrityunjay Kumar
M.B.A
Reg. No. - 1201470020
HUMAN RESOURCE & MARKETING
Industry Guide: Faculty Guide:
Mr. Ravi Prakash Dr. NEHA ARORA
Regional Manager
ORIENT ACTUS .
SRMSWCET
RESEARCH PROJECT REPORT(MBA - 043)
ON ““The study of Criteria of Performance Appraisal for Private and Public
Sector Banks in Bareilly ”
Submitted in Partial Fulfillment of Master of Business Administration (MBA)
Programme : 2010 -12Of
Gautam Budhha Technical University, LucknowUnder the Supervision of SUBMITTED BY(Dr.Anant Kr. Srivastava) Nidhi GargMBA Department 1045070011 S.R.M.S.C.E.T., Bareilly
Department of Management ScienceShri Ram Murti Smarak Women’s College of Engineering & Technology, Bareilly
(College Code – 450)
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Shri Ram Murti Smarak Women’s College of Engineering & Technology, Bareilly (U.P.)
Department of Management Science
Certificate
This is to certify that Ms. Manpreet Kaur, a student of MBA IV Semester has completed her
Research Project Report titled “A study of Criteria of Performance Appraisal for Private and
Public Sector Banks in Bareilly” assigned by MBA Department and under my supervision.
It is further certified that she has personally prepared this report that is the result of her personal
survey/observation. It is of the standard expected to MBA student and hence recommended for
evaluation.
Signature of the
Supervisor
(Dr. Anant Kr.
Srivastava)
Above statement is endorsed.
(Richa Murti) Date:Head
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ACKNOWLEDGEMENT
Someone has rightly said, “No one can live in isolation”. It is true that every individual
needs the help of others in every work he does. No task is single man’s effort. Any job
in this world however trivial or tough cannot be accomplished without the assistance
of others. An assignment puts the knowledge and experience of an individual to litmus
test. There is always a sense of gratitude that one likes it express towards the persons
who helped to change an effort in a success. The opportunity to express my
indebtedness to people who have helped me to accomplish this task.
First of all I would like to express my gratitude to Head of Department and my faculty
Ms. Richa Murti who guided me with her knowledge and skill and helped me in
successful completion of the work.
I thank my institute who has given me an opportunity to show my skills. I also thank
my nearer and dearer ones without whose support this project would not been possible.
I extent my sincere gratitude towards my parents, who have always encouraged me and
gave suggestions. They always stand by me. Their support has always motivated me.
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DECLARATION
I Manpreet Kaur student of SRMSWCET Bareilly has completed my Dissertation
Report at Bareilly, my project title is “A comparative analysis of financial
performance of Bank of Baroda and HDFC Bank”. All the work is original and has
been done during my research.
Manpreet Kaur
MBA IV SEM
(SRMS WCET)
SRMSWCET
PREFACE
Someone rightly said that practical experience is for better and closer to the real world
then mere theoretical exposure. The research work constitutes the back bone of any
management education programme. A management student has to do research work
quite frequently during his entire span. This report is helpful to enhance the knowledge
in analyzing the financial performance of the Banks. The report on the financial
performance helped me to find out the various techniques used to evaluate the financial
results of the banking financial statements. The report is a analysis of its true financial
results and it is helpful tool for the understanding the evaluation techniques. The
research work is titled “A comparative analysis of financial performance of Bank of
Baroda and HDFC Bank”.
STATEMENT
I, Mrityunjay Kumar, student of SRMS CET (Sri Ram Murti Smarak
College of Engineering & Technology), hereby declare that all the
information, facts and figures in this report are based on my own findings and
experience during my summer training in ORIENT ELECTRICALS,
APPLIANCES DIVISION, LUCKNOW.
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I also hereby declare that the work done by me has not been copied; it is my
original work and does not lead to any other degree, diploma, fellowship or
other similar title or prizes.
Mrityunjay Kumar
M.B.A
Session: 2012-2014
Reg. No.: 1201470020
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STUDENT’S CERTIFICATE
It is certified that the report is prepared based on Summer Internship Project
undertaken by me in ORIENT ELECTRICALS (ORIENT ACTUS) from 6th
June 2013 to 25th July 2013, under the able guidance of Mr. Ravi Prakash in
partial fulfillment of the requirement for award of degree of Master of Business
Administration MBA from ( SRMS CET ) BAREILLY
Date--------------------
--------------- ----------------- ----------------------
Mrityunay Kumar Aeha Arora Dr. Anant Kr Srivastava student Asst.Professor HOD ( MBA )
SRMSWCET
FACULTY CERTIFICATE
Forwarded here with a summer internship report on “Competitive Analysis of
Orient Actus Air Coolers” of Orient Electricals. Submitted by MRITYUNJAY
KUMAR REGISTRATION No. 1201470020, student of MBA IIIrd Semester
(2012-14).
This project work is partial fulfillment of the requirement for the degree of
Master in Business Administration from SRI RAM MURTI SMARAK
COOLEGE OF ENGINEERING & TECHNOLOGY bareilly
Payal Johary Asst. Professor
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CERTIFICATE
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Acknowledgement
“It is not possible to prepare a project report without the assistance & encouragement of other
people. This one is certainly no exception.”
Apart from my efforts, the success of any project depends largely on the
encouragement and guidelines of many others. I take this opportunity to express our gratitude
to the people who have been instrumental in the successful completion of this project.
I would like to thank corporate mentor for the project Mr. Ravi Prakash to help me
understand the details of the project. Without their encouragement and guidance this project
would not have materialized.
I would like to thank our Faculty – PAYAL JOHARY who helped us by laying the
guidelines to be followed for the project which helped us a lot. She also shared her
experiences with us during the interaction which created a sound base for us to present this
project.
I extend my gratitude to SRMSCET and ORIENT ACTUS for giving me this opportunity.
It would have been impossible to finish the project without the involvement of all the
industrial associations, retailers and different enterprises who shared their valuable and
informative thoughts and suggestions. I thank them sincerely to have patiently interacted with
me and to have responded every time.
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Table of Contents
Certificate...................................................................................................................................3
Certificate...................................................................................................................................4
Acknowledgement.....................................................................................................................5
Table of Contents......................................................................................................................6
List of Figures............................................................................................................................8
List of Charts.............................................................................................................................8
1. Executive Summary...........................................................................................................9
2.
Introduction.......................................................................................................................11
2.1.1.
Background............................................................................................................13
I. Orient Fans………………… ...................................................................................14
II. CK Birla Group.........................................................................................................17
III. Importance of the Project………….........................................................................22
IV. Competitors…………….......................................................................................….23
2.1.2. Objective................................................................................................................24
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3. Methodology....................................................................................................................27
3.1. Data Collection Method............................................................................................27
3.1.1. Primary Data.........................................................................................................…28
3.2. Sampling...................................................................................................................29
3.3. Field Work................................................................................................................30
3.4.
Analysis.....................................................................................................................31
3.4.1. Primary Data Analysis.............................................................................................31
3.4.1.1. Overall Statistics (Facts and Figures)................................................................33
Techniques & Challenges..................................................................................35
4. Result and Discussions.....................................................................................................37
5. Conclusion and Recommendations..................................................................................38
5.1. Conclusion................................................................................................................ 39
5.2. Suggestions to increase market share........................................................................40
6. Limitations........................................................................................................................40
7.
Annexure...........................................................................................................................41
Annexure I – Company Profile............................................................................................41
Annexure II–References & Excel sheets................................................................................42
Annexure III- Questionnaire................................................................................................45
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List of Figures
Figure 1- Orient electrical…… .............................................................................................23
Figure 2- Statutory Certifications..........................................................................................18
Figure 3- Range of orient coolers.........................................................................................26
Figure 4- Research Methodology..........................................................................................27
List of Charts
Chart1- Market Share of coolers...........................................................................................31
Chart2- Market share of organized sector.............................................................................32
Chart 3- Market captured by different groups……………………………………………...38
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.
CHAPTER I
THEORETICAL PRESENTATION OF THE
TOPIC
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INTRODUCTION
Modern age is full of competition. Today only way of success is your continuous efforts
towards the growing market needs and in satisfying them. It is the marketer job to know what
the market speaks i.e. the ever changing needs of the customer through market research and
adopt them fruitfully. It is must for all the companies to make policies according to the
customers and the government. Today to succeed, for any organization has to target its
customer needs, to create a culture in the organization i.e. market conscious and responsive to
customer needs. Home Appliances industry has become big business in India in recent years.
The Air Cooler business under the home appliances segment underwent major changes with
the entry of new technology and added features being provided by almost every air cooler
brand in the market. The air cooler market itself is divided into two groups Organized and
Unorganized cooler market. The organized market being the one which includes branded
coolers and unorganized being the local tin-bodied coolers.
Orient Air Coolers is a product under the appliances division named as Orient Actus from
Orient Fans, India’s leading brand in fans and lighting solutions. Orient Fans is a part of CK
Birla Group. Major competitors for Orient Actus Air coolers in the market are Symphony,
Bajaj, Usha and Khaitan. Before the launch of Orient appliances segment namely Orient
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Actus, which happened on October 07, 2011, market research has been carried out to
understand consumer behavior i.e. inclination towards the organized versus the unorganized
sector. Also to understand requirement of consumers regarding air cooling solutions and
additional features that must be incorporated as per their requirements. For the market
research, surveys and interviews in major markets of Lucknow and Up-country like Latush
Road, Alambagh, Aliganj, Chowk, Indranagar, Gomtinagar, etc. was carried out and
responses from different types of dealers like retail outlet, manufacturers, hospitality, traders,
distributors etc were taken as per the questionnaire. The major outcomes of the study were,
dealers had low satisfaction level from the after sales service of the product. Other major
findings of study included huge market opportunities for brand marketing and advertising
criteria.
This market research was also taken as promotional event for the product and pamphlets and
posters were given for the same. Therefore, recommendations were made so as to increase the
visibility of the product and to inculcate features so that customers are satisfied with the
product. It was recommended to target big dealers, as their reach and visibility to the
customers
is more. More promotional events/ activities like tie ups with industrial/market associations,
organizing conclaves, and participation business fair/ stalls in the events.
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CHAPTER II
ORGANIZATIONAL PROFILE OF THE COMPANY
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1.1.1. Background
I. Orient Fans
Orient Fans is one of India’s leading brands in fans and lighting solutions. A household name
fordecades now, Orient Fans has emerged as the largest manufacturer and exporter of fans in
the country. Our vast product suite is tailored for different lifestyle needs for air circulation &
illumination. Our Fans range comprises Ceiling Fans, Table Fans, Wall Mounted Fans,
Exhaust Fans and Multi Utility Fans. Our Lighting solutions include energy-saving CFLs,
Fluorescent Tube lights and Contemporary Consumer Luminaries . All our products are an
outcome of intensive research & development. Our belief in excellence, both in product and
technology, is a reflection of the Group we belong to –
C.K. Birla Group. A US $ 1.7billion ( AppRs 8000Crs) conglomerate, the C. K. Birla Group is
one of India’s largest and most respected business houses, spanning 4 continent Orient Fans has seen many recognitions in the past. They have always emphasized on
continuousResearch & Development that provides better customer experience and enhances
comfort. Forinstance, our PSPO technology, developed for fans in the ‘90’s, provides more
cool air to every corner of a room. Today, this patented path breaking technology has raised the
bar in the industry and continues to be a milestone achievement in the industry.
What’s more, with a commitment towards energy efficiency needs, Orient fans has introduced
Therevolutionary OLO technology in Compact Fluorescent Lamps (CFLs) which saves 80%
energy over anordinary incandescent bulb. Fluorescent Tubelights, powered with Triple Coil
advantage providelonger life and contemporary Consumer Luminaires that blend seamlessly
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with the aesthetics of a room.
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II. C.K Birla Group
Orient Fans is a part of CK Birla Group.
CK Birla group is a diversified conglomerate with interests spanning across industries such as –
Cement, Consumer Electricals, Precision Bearings, Heavy Engineering Products, Paper,
Building products, Automobiles, Auto components, Healthcare, Education & ITES. With a
combined turnover of over US $ 1.8 billion and over 20,000 employees, manufacturing and
service footprint across India, and track record of successful partnerships with global leaders;
the CK Birla group strives to deliverenduring value to stakeholders. The group extends social
welfare activities to communities,especially, around its industrial units while strengthening the
social infrastructure through educationand healthcare initiatives as part of its social
responsibility.
The group companies include
AVTEC Limited Birlasoft Limited GMMCO Limited Hindustan Motors Limited Hyderabad Industries Limited Indian Smelting & Refineries Limited National Engineering Industries Limited Orient Paper and Industries Limited Special Engineering Services Limited Nigeria Engineering Works Limited Rivers Vegetable Oil Company Limited
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Education institutions
Birla Institute of Technology Modern High School for Girls Rukmani Birla Modern High School
Healthcare institutions
The Calcutta Medical Research Institute B. M. Birla Heart Research Centre
ELECTRICALS
The year under review
Completed expansion of our Fans manufacturing capacity to 80 lac units per year and introduced exciting new models
Achieved 7.6% growth in our domestic Fan sales volume against overall de-growth of the Indian Fan industry
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Achieved significant growth of 35.12% in our sales volumes of CFLs and other Lighting products and increased our in-house production capacity.
Launched a wide range of Household Electrical Appliances towards end of the year
Worked with a reputed international consultancy firm to optimise costs, increase productivity and synergise operations.
Encouraging results are already visible Increased total divisional net sales by 17.77%
OBJECTIVE & VISION STATEMENT–“To be the best in the country by offering
world class experience by their products at affordable prices”.
MISSION
• To be ranked no. 1 among each and every sector endeavored.
• To provide the best quality services to customers at affordable prices.
• Orient is aiming to create its own niche merchandising like revolutionary PSPO technology in
fan manufacturing and provide other such technology in other sectors as well.
PHILOSOPHY
“Unleashing value is not just a short term viewpoint but comprehensive long term
wealth creation plan”
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PROMOTERS
In 2004, Orient Fans was chosen as a supplier for Walmart which gave the brand an entry to the
US market.Despite the success, Orient continued to invest in the brand. In 2006 , the brand
roped in the Ace Cricketer MS Dhoni to endorse the brand. A cricketer and a fan have no
connection with each other but the purpose of the brand was to reinforce its brand and its
association with Dhoni gave some brand recall. The association continues even today and
recently there was an ad campaign featuring Dhoni . The new campaign is also focusing on the
ORIENT ELECTRICALS
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70 yrs. old 05 yrs. old 1 yr. old Going to start
CERTIFICATIONS AND STATUTORY APPROVALS
Orient Fans is rated as 'STAR EXPORT HOUSE' by the Ministry of Commerce and Industry,
(Government of India).
Orient Fans has also been awarded "Star Performer" for many years by the Engineering Export
Promotion Council (EEPC).
STATUTORY APPROVALS
HOME
APPLIANCES
SWITCHGEAR
DIVISION
FAN
DIVISION
LIGHTING
DIVISION
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Orient Fans has been given approval by different statutory authorities for exporting fans to their
respective countries. Some of the approvals for specific models are listed below:
The South African Bureau of Standards (SABS).
Saudi Arabian Standards Organization (SASO).
Underwriters Laboratories Inc. (UL) for the United States of America .
SIRIM for Malyasia.
SLS for Srilankan standards.
Bureau of Kenyan Standards (KBS).
SONCAP for Nigeria.
CE for European countries.
SWOT ANALYSIS
STRENGTHS
As one of India’s trustworthy names in the business, Orient Fans has come a long way and learnt a lot
too. Just by really listening to our customers. We’ve brought this learning into practice by developing
innovative technology and support that actually adds value to your life.
With Orient Fans, you know that you:
Are with the largest and oldest brand of fan manufacturers in India.
Own a product that is built with state-of-the-art technology and the best quality materials.
Can find any fan or lighting solution to match your lifestyle need.
Can find aesthetically designed contemporary and classic fans to match your décor needs.
Have more air in every corner of the room with our revolutionary PSPO technology.
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Have the backing of a vast organized and responsive after-sales network. Our service centers
across the country ensure that every complaint, however small, is attended to on time.
Get huge savings on your electricity bills with PSPO and OLO Technology in Fans&CFLs respectively.
Support the environment with Orient’s green initiative of developing technology that conserves energy.
WEAKNESS
Customer is not happy with company marketing policy. Although the brand endorser is a well-
known sportsperson there are less visible marketing schemes and lack of aggressive
advertising.
Most of the dealers problem contains that no company person comes at them for listening their
problems.
Scheme catalogue not available to the dealers. The dealers are not aware of the schemes the
company is running for them and hence dissatisfied.
Product after sales service is also an issue.
OPPORTUNITY
Strong Brand recall
Presence of large number of outlets
PricingLarge number of untapped market
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THREATS
The brand doesn’t project a clear image to customers about what Orient Actus is all about.
Large number of cooler substitute available.
Competition from national and international products Aggressive marketing strategies of rival companies.
.
STRENGTHS
Are with the largest and oldest brand of fan manufacturers in India.
Own a product that is built with state-of-the-art technology and the best quality materials.
Can find any fan or lighting solution to match your lifestyle need.
Can find aesthetically designed contemporary and classic fans to match your décor needs.
Have more air in every corner of the room with our revolutionary PSPO technology.
Have the backing of a vast organized
and responsive after-sales network.
WEAKNESS
Customer is not happy with company marketing policy. Although the brand endorser is a well-known sportsperson there are less visible marketing schemes and lack of aggressive advertising.
Most of the dealers problem contains that no company person comes at them for listening their problems.
Scheme catalogue not available to the dealers. The dealers are not aware of the schemes the
company is running for them and hence dissatisfied.
Product after sales service is also an issue.
OPPORTUNITIES
Strong Brand recall
Presence of large number of outlets
THREATS The brand doesn’t project a clear
image to customers about what Orient Actus is all about.
Large number of cooler substitute
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Pricing
Large number of untapped market
available.
Competition from national and internationalproducts
Aggressive marketing strategies of rival companies
III. Importance of the Project
The project includes competitive analysis of Orient actus air coolers which includes market
research for its product compared with other brands in the market . It also includes
understanding the consumer behavior i.e. to study the interest of dealers of electrical
appliances and home appliances shops and modern trade outlets inLucknow and Up-country.
The project also includes increasing the awareness about Orient Actus being a part of Orient
fans and about the quality of product. Importance of project for the organization includes
promotion of the product; understanding of the consumer behavior, to know features required
by the retailers in the product, to sale the product for first usage i.e. customer engagement and
to ensure that it maintains its name by providing good services, also the competitive brands
with our product and as to why the consumers prefer them more, . LucknowlikeLatush
For the market research responses from different major markets in Road, Alambagh,Indra
Nagar, Mahanagar, Gomtinagar, Chowk etc.. were taken so as to know the mandate of the
retailers.
IV. COMPETITORS
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Direct competitors Indirect competitors
• Symphony – This is the closest compTo all coolers available including Orient Actus in the Indian market. But Symphony is alwaysviewed as better brand and it is widely available everywhere across counters with good service.
• Kenstar- long life technology, fragrance chamber to the customers. Inspired by cost effectiveness and large variety in products .It is one of the premium brands in India.
Bajaj- It is one of the most renowed brands of India and is widely accepted by the masses. Tagline being” The most stylish name in room coolers”. It provides style with cost effectiveness.
Usha- It provides low purchase cost and low electricity consumption, environment friendly.
Unorganised Sector- Consists of Tin- Bodied coolers largely manufactured and preferred by low and middle income groups.
.
Local brands manufacturing cheap coolers like Indo, Champion , Aristocrat etc. at very low prices.
1.1.2. Objective
The medium class today constitute a very important segment of the Indian economy. To cater
the need of this sector different organization are coming up with affordable air coolers built
with latest technology which suits to their demand
The study majorly constitutes research of prominent markets in Lucknowof different nature of
business like retails outlets, dealers etc and find out the market share of Orient actus Air
coolers.and why consumers opting for other branded coolers and likewise for our product .
The market operating price was also asked to them so as to analyse the difference in prices
available in market which is a major factor of consumers purchasing the product.
The objective of the research is -
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1. To understand the consumer behaviour and dealer their willingness towards Orient
Actus as a brand, the significance of price range in the market
a. To study the various products under the air coolers range and their satisfaction
levels.
b. To investigate other brands and compare with Orient actus air coolers.
2. To investigate about features are already there Orient Actus Air coolers product and
features that should be added to cater to Indian needs
RANGE OF ORIENT AIR COOLERS
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CHAPTER III
PRESENTATION OF DATA AND ANALYSIS
Methodology
The research process has been broken down into logical steps. By breaking the process down into logical steps each action can be designed more effectively. The flow of the execution of the project is as follows:
Figure 1- Research Methodology
1.2. Data Collection Method
The survey can be administered in different modes. Some of the factors affecting the survey
are following:-
Costs and availability
Coverage of the target dealers
Define Research Objectives
Secondary Data Questionnaire Fomation
Primary Data/Field work
Data AnalysisConclusions &
Recommendation
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Flexibility of asking questions
Dealers' willingness to participate
Response accuracy
Our survey is mainly affected by coverage of target dealer and response accuracy as target
population response will also decide the features needed to integrate in the product and to get
the response which is closer to dealer response.
Primary data were used for my analysis. Primary data was collected by conducting visits to
different markets in Lucknowand personal interviews with different customers as feedback.
1.2.1. Primary Data
COLLECTION METHOD
1) OBSERVATION
a) Natural setting
b) Field experiment
Advantage minimizes response bias
Disadvantage limited to measuring behavior
time consuming
subject to investigator bias
2) COMMUNICATION
a) Personal interview
Advantage permits detailed & in-depth questions & responses
minimizes non-response
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Disadvantage costly
interviewer bias
investigator bias
interviewer cheating
3) SELF ADMINISTERED QUESTIONNAIRE
Advantage cost effective for large areas
minimizes interviewer bias
promotes accurate answers
Disadvantage low response rates
unanswered questions
incorrect answers
Primary data was collected mainlythrough survey and personal interviews with industrial
associations all acrossLucknow.
Questionnaire formation is one of the most important steps in research process, as it the way
where we get the required information for the further research process. Questionnaire
(Annexure I) was constructed to take responses from dealers and people owing small and
medium outlets. Questionnaire was divided into 4 parts-
Demographics - Initial part of questionnaire focussed on demographics of the target
dealers.
Nature of Business and Touch Points– Next part of questionnaire deals with nature of
business and what are the products displayed by the dealer.
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Dealer Satisfaction – Third part of questionnaire deals with measuring the satisfaction
level of dealers whether they are satisfied with distribution network or not the
schemes offered by our company and other competitive brands
Customer Engagement –This part of questionnaire checks the customer preferences
This section is one of the most important sections of the questionnaire as it engages
the customer with Orient, as this part asks willingness in the product and also offers
available for the customers along with how much they are willing to pay for the
product with all these features.
Questionnaire consisted of
1. Closed ended questions - Dealers‘answers are limited to a fixed set of responses.
Types of closed ended questions include:
a. Yes/no questions - The respondent answers with a ―yes or a ―no.
b. Multiple choice - The respondent has several option from which to choose.
2. Open ended questions – Although no open ended questions were included in the
questionnaire, the respondents did justify the options they chose to answer a questions.
Open ended questions were not included because the respondents didn‘t have enough
time to answer all the questions. (Though response regarding consumer engagement was taken
through open ended questions.)
For the Dealer responses markets in Lucknowwere identified. These markets included Latush
Road, Alambagh, Indra Nagar, Mahanagar, Gomtinagar, Chowketc and 50 responses were
taken. Each response involved 15-20 minutes of interview with the dealer.
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1.3. Sampling
Sample is a process of taking subset which represents the population for the study. For sample
initially Delhi was divided into regions followed by randomly taking responses from the
SME’s.
Sampling Technique: Stratified random sampling technique is being used, initially the
Lucknow regions were divided into different strata’s and then different respondents were
being used randomly.
1.4. Field Work
For data collection, major markets of Lucknow and Up-country likeLatush Road, Alambagh,
Indra Nagar, Mahanagar, Gomtinagar, Chowketc were visited. Different electrical applainces
shops were being approached so as to get market research .Initially purpose of the visit was
stated to the dealers. Then a general description about Orient and Air coolers was being given
followed by queries by them regarding the product was being answered. Before taking their
response, difficulties or any reason of dissatisfaction was being asked about the existing usage
of product if they are using. Then the respondent was asked to fill the questionnaire and
different queries regarding the question and software product was being answered.
s: Researcher contribution
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1.4.1. Primary Data Analysis
Organised 40%
Unorganised60%
Market share of Coolers
Chart-1
Market Area Covered:-Lucknow and Up-country
ORGANISED SECTOR:The sector which is registered , follows Govt. rules n regulations, have employees n employers union is called organised sector. The company form of business comes under organised sector. The private retail business is called un organized sector.
UNORGANISED SECTORThe term unorganised sector when used in the Indian context is defined by National Commission for Enterprises in the Unorganized Sector, Government of India in their Report on Conditions of Work and Promotion of Livelyhoods in the Unorganized Sector thus:
The unorganized sector consists of all unincorporated private enterprises owned by individuals or households engaged in the sale or production of goods and services operated on a proprietary or partnership basis and with less than ten total workers.
Amongst the characteristic features of this sector are ease of entry smaller scale of operationlocal ownership uncertain legal status labour intensiveand operating using lower technology based methods, flexible pricing, less sophisticated packing, absence of a brand name, unavailability of good storage facilities and an effective distribution network, inadequate access to government schemes, finance and government aid, lower entry barriers for employees, a higher proportion of migrants with a lower rate of compensation.
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1.4.1.1. Overall Statistics (Facts and Figures)
1. As we can see from the graph 40% of the Air coolers in the market are taken up by organized
sector.
Symphony40%
Kenstar30%
Orient15%
Usha10%
Bajaj 5%
MARKET SHARE OF ORGANISED SECTOR
Market Area covered: Lucknow and Up-country Chart-2
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TECHNIQUES FOR SALES PROMOTION
1. POSTERS2. GLOW SHINE BOARDS3. HOARDINGS4. TELEVISION COMMERCIALS5. ONLINE SALES6. NEWSPAPER ADVERTISEMENTS
Challe nges
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Challenges during the marketers research and challenges for the
product Orient actus air coolers in the market
Some outletsdidng proper time for the survey sosomeinformation
maybeerror prone.
Dealersaremore comfortablewhich existing range of
productsandare notreadytoswitch tonew brands
Manydealers delayed the process as they had to cater the
customers and were reluctant in sharing their data with
some external agency
.
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CHAPTER IV
FINDINGS, CONCLUSIONS AND SUGGESTIONS
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Result andDiscussions
DEALERS VISITED52I had used primary method of data collection as mentioned above through dealer visit and Questionnaires for compiling my data and it is mentioned in the figure below. I came to the conclusion that in the 100% market share , Symphony stands out as the largest selling air coolers with 40% share and the second position goes to kenstar with 30% . Third position is conquered by Orient 15%, followed by Usha 10% and lastly Bajaj 5%.
Symphony40%
Kenstar30%
Orient15%
Usha 10%
Bajaj5%
Market Captured by Different Groups
2012-2012Market Area covered: Lucknow and Up-country
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5. Conclusion and Recommendations
5.1.Conclusion
Orient Actus basics are build on performance, aesthetics and service.
Orient Actus is a new generation high-performance range that seeks to deliver premium quality.
Built specially for Indian conditions and after a detailed research on the needs
Of the Indian homemaker, the Orient Actus range is stylishly designed too.
Although Orient Actus has been launched just a year ago,(March 2012 ) it has made its
presence in the coolers industry gaining a share of 15% out of the biggest competitors in the
organized air cooler market.As per my study the Tornado model of air cooler by Orient has
outshined the top models of other brands and it is the most preferred model in Air cooler
segment. It has certainly made history as it is now just as popular among masses both in fans
and air cooler (appliances) segment.It has given competition to well renowed brands in India
such as Symphony and is way forward to climb up the ladder with 12% growth per year in the
appliances section as planned.
5.2. RECOMMENDATION
SUGGESTIONS TO INCREASE MARKET SHARE
Price was one of the factors that served as a hindrance. Thus the most likely solution
to this problem would be nothing but decreasing the price but at the same time the
profitability of the organization should not decrease.
Innovation in technology should be there every year so that people are attracted
towards the product.
The organization has 10 service centers in Uttar Pradesh itself. However customers are
finding it hard to get good after sale service to generate goodwill and create customers
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as well as their loyalty.
Create awareness to dealers about schemes and offers available to them as well as to
the consumer.
Company should open their individual outlets across nation to create awareness.
Promotional Strategies like hooking up with the entertainment industry for promotion.
They should tie-up with the multiplexes for advanced promotions.
Fromtheresearch,wehaveseenmajorityoftherespondentshaveonline presence.
Hencedigitalmarketingcanbeusedtopromoteproductviamails, social networking
websitesetc.
More promotional events like conclaves, stalls at business/corporate fairs, columns
in magazines, one day promotional activities with different
associations can be done
6. Limitations
Sincenostudyisanendinitselfanderrorfree,therearecertainshortcomingsand limitationsinthis
studyas well.
More number ofresponses canbetakensoas togetaccurateresults.
Someoutletsdidn‗tdevotepropertimeforthesurveysosomeinformation
maybeerror prone..
Timeconstraint was there restrictingfurther in depthstudyofthe topic.
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7. Annexure
AnnexureI-Company Profile
C.K. Birla Group. A US $ 1.7billion ( AppRs 8000Crs) conglomerate, the C. K. Birla Group is
one of India’s largest and most respected business houses, spanning 4 continents.
Orient Fans has seen many recognitions in the past. They have always emphasized on
continuousResearch & Development that provides better customer experience and enhances
comfort. Forinstance, our PSPO technology, developed for fans in the ‘90’s, provides more
cool air to every cornerof a room. Today, this patented path breaking technology has raised the
bar in the industry andcontinues to be a milestone achievement in the industry.
What’s more, with a commitment towards energy efficiency needs, Orient fans has introduced
Therevolutionary OLO technology in Compact Fluorescent Lamps (CFLs) which saves 80%
energy over anordinary incandescent bulb. Fluorescent Tubelights, powered with Triple Coil
advantage providelonger life and contemporary Consumer Luminaires that blend seamlessly
AnnexureII – Reference
2 Orient fans Official Website- i.
www.orientfans .com
3 Wikipedia―Research methodolgy‖-
h t tp : / / e n . w ik i ped ia .o rg / w i k i/research_methodology
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AnnexureIII -Questionnaire
QUESTIONNAIRE
DEALER NAME- ______________________________ ADDRESS- ___________________________________ TEL. NO.- ______________________________
Q1)Which brand do you Sell? □ BAJAJ □ USHA □ symphony □ Kenstar □ ORIENT
Q2) Which sector do you sell more?
□ ORGANISED □ UNORGANISED
Q3) What is the % ratio of organized sector?
□10% □20% □ 30% 40% □ MORE
Q4) Are you satisfied with the Distribution Network?
□ BAJA J USHA □ SYMPHONY □ KENSTAR □ ORIENT
Q5) Are you aware of the various schemes run by the Orient Actus?
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□ Yes □no
Q6) Which brand is preferred by Customers?
□ BAJAJ □ USHA □ symphony □ ken star □ ORIENT
Q7) Which one has better Advertising & Sales Promotion?
BAJAj □ USHA □ symphony □ kenstar □ ORIENT
Q8) What is the Average monthly unit sold?
50- 150 □ 150 – 250 □ 250 & above
Q9) What is the Average monthly Sales of Orient?
20 – 30 □ 30 - 50 □ 50 - 100 □ 100 & above
Q10) Do you think Promotional Activities can increase Sales?
□ yes□no
Q11) How would you rate Orient?
Very good □ good □average □satisfactory □ bad
Complaints or Suggestions--
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Any Suggestions
Thank you very much for your kind cooperation!!!
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TRAINING AND DEVELOPMENT OBJECTIVES
The principal objective of training and development division is to make sure the
availability of a skilled and willing workforce to an organization. In addition to that,
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there are four other objectives: Individual, Organizational, Functional, and Societal.
Individual Objectives – help employees in achieving their personal goals, which in
turn, enhances the individual contribution to an organization. Organizational
Objectives – assist the organization with its primary objective by bringing
individual effectiveness.
Functional Objectives – maintain the department’s contribution at a level suitable to
the organization’s needs.
Societal Objectives – ensure that an organization is ethically and socially
responsible to the needs and challenges of the society.
Importance of Training Objectives
Training objective is one of the most important parts of training program. While
some
people think of training objective as a waste of valuable time. The counterargument
here is that resources are always limited and the training objectives actually lead the
design of training. It provides the clear guidelines and develops the training program
in less time because objectives focus specifically on needs. It helps in adhering to a
plan. Training objectives tell the trainee that what is expected out of him at the end
of the training program. Training objectives are of great significance from a number
of stakeholder perspectives.
Trainer
Trainee
Designer
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Evaluator
Trainer – The training objective is also beneficial to trainer because it helps the
trainer to measure the progress of trainees and make the required adjustments.
Also, trainer comes in a position to establish a relationship between objectives and
particular segments of training.
Trainee – The training objective is beneficial to the trainee because it helps in
reducing the anxiety of the trainee up to some extent. Not knowing anything or going
to a place which is unknown creates anxiety that can negatively affect learning.
Therefore, it is important to keep the participants aware of the happenings, rather
than keeping it surprise. Secondly, it helps in increase in concentration, which is the
crucial factor to make the training successful. The objectives create an image of the
training program in trainee’s mind that actually helps in gaining attention. Thirdly, if
the goal is set to be challenging and motivating, then the likelihood of achieving
those goals is much higher than the situation in which no goal is
Set. Therefore, training objectives helps in increasing the probability that the
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participants will be successful in training.
Designer – The training objective is beneficial to the training designer because if the
designer is aware what is to be achieved in the end then he’ll buy the training
package according to that only. The training designer would then look for the
training
methods,trainingequipments, and training content accordingly to achieve those
objectives. Furthermore, planning always helps in dealing effectively in an
unexpected situation Consider an example; the objective of one training program is
to deal effectively with customers to increase the sales. Since the objective is
known, the designer will design a training program that will include ways to improve
the interpersonal skills, such as verbal and non-verbal language, dealing in
unexpected situation i.e. when there is a defect in a product or when a customer is
angry.Therefore, without any guidance, the training may not be designed
appropriately.
Evaluator – It becomes easy for the training evaluator to measure the progress of
the trainees because the objectives define the expected performance of trainees.
Training objective is an important to tool to judge the performance of participants.
Training and Human Resource Management
The HR functioning is changing with time and with this change, the relationship
between the training function and other management activity is also changing. The
training and development activities are now equally important with that of other HR
functions. Gone are the days, when training was considered to be futile, waste of
time, resources, and money. Now-a-days, training is an investment because the
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departments such as marketing & sales, HR, production, finance, etc depends on
training for its survival. If training is not considered as a priority or not seen as a
vital
part in the organization, then it is difficult to accept that such a company has
effectively carried out HRM. Training actually provides the opportunity to raise the
profile development activities in the organization To increase the commitment level
of employees and growth in quality movement (concepts of HRM), senior
management team is now increasing the role of training. Such concepts of HRM
require careful planning as well as greater emphasis on employee development and
long term education. Training is now the important tool of Human Resource
Management to control the attrition rate because it helps in motivating employees,
achieving their professional and personal goals, increasing the level of job
satisfaction, etc. As a result training is given on a variety of skill development and
covers a multitude of courses.
Role of HRD Professionals in Training
This is the era of cut-throat competition and with this changing scenario of business;
the role of HR professionals in training has been widened. HR role now is:
1.Active involvement in employee education
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2.Rewards for improvement in performance
3.Rewards to be associated with self esteem and self worth
4.Providing pre-employment market oriented skill development education and post
employment support for advanced education and training
5.Flexible access i.e. anytime, anywhere training.
Models of Training
Training is a sub-system of the organization because the departments such as,
marketing& sales, HR, production, finance, etc depends on training for its survival.
Training is a transforming process that requires some input and in turn it produces
output in the form of knowledge, skills, and attitudes (KSAs).
THE TRAINING SYSTEM
A System is a combination of things or parts that must work together to perform a
particular function. An organization is a system and training is a sub system of the
organization. The System Approach views training as a sub system of an
organization. System Approach can be used to examine broad issues like
objectives, functions, and aim. It establishes a logical relationship between the
sequential stages in the process of training need analysis (TNA), formulating,
delivering, and evaluating. There are 4 necessary inputs i.e. technology, man,
material, time required in every system to produce products or services. And every
system must have some output from these inputs in order to survive. The output can
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be tangible or intangible depending upon the organization’s requirement. A system
approach to training is planned creation of training program. This approach uses
step-by-step procedures to solve the problems. Under systematic approach, training
is undertaken on planned basis. Out of this planned effort, one such basic model of
five steps is system model that is explained below. Organization are working in open
environment i.e. there are some internal and external forces, that poses threats and
opportunities, therefore, trainers need to be aware of these forces which may impact
on the content, form, and conduct of the training efforts.The internal forces are the
various demands of the organization for a better learning environment; need to be
up to date with the latest technologies.The three model of training are:
System Model Training
The system model consists of five phases and should be repeated on a regular
basis to make further improvements. The training should achieve the purpose of
helping employee to perform their work to required standards. The steps involved in
System Model of training are as follows:
1.Analyze and identify the training needs i.e. to analyze the department, job,
2. employees requirement, who needs training, what do they need to learn,
estimating training cost, etc The next step is to develop a performance measure on
the basis of which actual performance would be evaluated.
Design and provide training to meet identified needs. This step requires
developing objectives of training, identifying the learning steps, sequencing and
structuring the contents.
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Develop- This phase requires listing the activities in the training program that will
assist the participants to learn, selecting delivery method, examining the training
material, validating information to be imparted to make sure it accomplishes all
the goals & objectives.
Implementing is the hardest part of the system because one wrong step can lead to
the failure of whole training program.
Evaluating each phase so as to make sure it has achieved its aim in terms of
subsequent work performance. Making necessary amendments to any of the
previous stage in order to remedy or improve failure practices
Instructional System Development Model(ISD)Model
Instructional System Development model was made to answer the training
problems.
This model is widely used now-a-days in the organization because it is concerned
with the training need on the job performance. Training objectives are defined on the
basis of job responsibilities and job description and on the basis of the defined
objectives individual progress is measured. This model also helps in determining
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and developing the favourable strategies, sequencing the content, and delivering
media for the types of training objectives to be achieved.
The Instructional System Development model comprises of five stages:
ANALYSIS – This phase consist of training need assessment, job analysis, and
target audience analysis.
PLANNING – This phase consist of setting goal of the learning outcome,
instructional objectives that measures behaviour of a participant after the training,
types of training material, media selection, methods of evaluating the trainee,
trainer and the training program, strategies to impart knowledge i.e. selection of
content, sequencing of content, etc.
DEVELOPMENT – This phase translates design decisions into training material.
It consists of developing course material for the trainer including handouts,
workbooks, visual aids, demonstration props, etc, course material for the trainee
includinghand outs of summary.
EXECUTION – This phase focuses on logistical arrangements, such as arranging
speakers, equipments, benches, podium, food facilities, cooling, lighting, parking,
and other training accessories.
EVALUATION – The purpose of this phase is to make sure that the training
program has achieved its aim in terms of subsequent work performance. This phase
consists of identifying strengths and weaknesses and making necessary
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amendments to any of the previous stage in order to remedy or improve failure
practices.
The ISD model is a continuous process that lasts throughout the training program. It
also highlights that feedback is an important phase throughout the entire training
program. In this model, the output of one phase is an input to the next phase.
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LEARNING AND TRAINING
Irrespective of the type or method of training, a trainer has to keep in mind some of
the principles of learning or motivation, which would enhance internationalization of
what is taught.
Motivation
A trainee needs to have a desire to learn and benefit from the programme. If the is
not interested, or is de-motivated, the learning outcome is going to be insignificant
and the company will have spent its money badly. On the other hand, being too
intense about learning and outcome may result in setting over ambitious goals for
the individual.
Reinforcement
Following on the concept of motivation is that of reinforcement. For learning to take
place and be internalized to the desired extent, a trainee is rewarded or given some
encouragement. This reinforcement, or the acknowledgement that what has been
acquired is desirable, can be either an extrinsic or intrinsic reward-external praise or
some tangible reward, or the individual’s feeling of a sense of progress. Current
stress is on positive support and helpful behavior, even when mistakes are made.
Feedback
During the training process, it is useful for the trainee to be told how he is
progressing. Several researchers have confirmed that knowledge of results is an
effective motivator. Constant and periodic feedback has positive effects on the
trainee’s learning. Unless the trainee knows how close his performance comes to
the desired standard, he will not have an opportunity to improve. Feedback therefore
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provides a basis for correcting oneself. Secondly, feedback helps to sustain the
trainee’s interest in the task, or in each learning that is taking place, by bringing
greater involvement with the learning process. If feedback is to be meaningful, it
should follow a learning segment as quickly as possible.
Transfer of Learning
The maximum use of training can be made if the trainee is able to transfer his
learning to his actual work role. This is possible if identical elements are
incorporated in the training situation from the job role, either existing or proposed.
The more similar the learning situation is to the job situation, the higher the degree
of transfer the trainee can expect ,and hence the grater the relevance of the training
programme.
Repetition
Repetition etches a pattern into our memory, e.g., when one studies for an
examination, it is necessary to repeatedly to over ideas so that they can be recalled
later
Relevance
Relevance relates to the meaningful fuse of material, which aids learning, e.g.,
trainers usually explain in the overall purpose of a job to trainees before assigning
them a particular task.
TRAINING INPUTS
There are three basic types of inputs;
(i)Skills
(ii)Attitude
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(iii)Knowledge.
The primary purpose of training is to establishing a sound relationship is at its best
when the workers attitude to the job is right, when the workers knowledge of the job
is adequate, and he has developed the necessary skills. Training activities in an
industrial organization are aimed at making desired modifications in skills, attitudes
and knowledge of employee so that they perform their jobs most efficiently and
effectively.
BEST TIME TO IMPART TRAINING TO EMPLOYEE
NEW RECRUITS TO THE COMPANY
These have a requirement for induction into the company as a whole in terms of its
business activities and personnel policies and provisions, the terms, conditions and
benefits appropriate to the particular employee, and the career and advancement
opportunities available.
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TRANSFEREES WITHIN THE COMPANY
These are people who are moved from one job to another, either within the same
work area, i.e. the same department or function, or to dissimilar work under a
different management. Under this heading we are excluding promotions, which take
people into entirely new levels of responsibility.
PROMOTIONS
Although similar to the transferee in that there is a new job to be learned in new
surroundings, he is dissimilar in that the promotion has brought him to a new level of
supervisory or management responsibility. The change is usually too important and
difficult to make successfully to permit one to assume that the promotes will pick it
up as he goes along and attention has to be paid to training in the tasks and the
responsibilities and personal skills necessary for effective performance.
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NEW PLANT OR EQUIPMENT
Even the most experienced operator has everything to learn when a computer and
electronic controls replace the previous manual and electro-mechanical system on
the process plant on which he works. There is no less a training requirement for the
supervisors and process management, as well as for technical service production
control and others.
NEW PROCEDURES
Mainly for those who work in offices in commercial and administrative functions but
also for those who we workplace is on the shop floor or on process plant on any
occasion on which there is a modification to existing paperwork or procedure for,
say
the withdrawal of materials from stores, the control of customer credit the approval
of
expense claims, there needs to be instruction on the change in the way of working in
many instances, a note bringing the attention of all concerned the change is assume
to be sufficient, but there are cases, such as when total new systems in corporating
IT up dates are installed, when more thorough training is needed.
NEW STANDARDS, RULES AND PRACTICES
Changes in any one these are likely to be conveyed by printed note or by word of
mouth by the manager to his subordinates, and this can be the most satisfaction way
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of dealing with the change from the point of view of getting those affected to
understand their new responsibility. However not all changes under this heading can
be left to this sort of handling. Even the simplest looking instruction may be
regarded as undesirable or impracticable by whoever has to perform it he may not
understand the purpose behind the change and lose confidence in a management
which he now believes to be ‘messing about’, or he may understand the purpose
and have a better alternative to offer if it is not
NEW RELATIONSHIP AND AUTHORITIES
These can arise, as a result of management decisions, in a number of ways. In
examples, the recognition of the accounts department can result in a realization of
responsibilities between the section leaders of credit control, invoicing and customer
records, although there is no movement of staff between the sections (i.e. no
transfers). Although the change in work content for each clerk and supervisor is
defined clearly for each person in the new procedures, there is nevertheless a need
for each person to know where he stands in the new set up, which is responsible for
what, and where to direct problems and enquiries as they arise in the future.
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MAINTENANCE OF STANDARDS
We are here concerned with maintenance of standards through training, for it must
be remembered that supervision and inspection and qualify control are continuously
responsible for standards and exercise their own authorities to this end. Although it
isgenerally agreed that some retraining from time to time, taking varied forms even
for the on group of employees, does act as both a reminder and a stimulus, there is
not much agreement on the next frequency and form that such retraining should
take, of there is as yet little scientific knowledge on this subject which is of much use
in industrial situations.
THE MAINTENANCE OF ADAPTABILITY
Again, whilst there is little scientific study of the loss of ability to learn new skills in
those cases where people spend a long time without change, and without the need
to learn, there is increasing evidence in current experience to suggest that this is the
case in industrial employment. Add, of course, there is the inference arising from the
laboratory experiments of psychologists.
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THE MAINTENANCE OF MANAGEMENT SKILLS & STANDARDS
Skills in supervising, employee appraisal, communications, leadership etc are
important in all companies. Some of these skills are seen to be critical to major
developments in company organisation, culture, employee empowerment and so on.
Initial training in these skills is not uncommon in the largest companies on
appointment into management and supervision. But continuous training and
performance monitoring is rare, despite the common knowledge that standards are
as varied as human nature.
RETIREMENT AND REDUNDANCY
Employees of any position in the company who are heading towards retirement will
benefit from learning about health, social life, work opportunities money
management etc. Internal or external courses are best attended a year or two before
retirement date, in a few companies a member of Personnel will act as a counselor
as required.
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BENEFITS OF TRAINING
Employees and the organization need to realize the importance of contribution and
learning for mutual growth and development. Training is the answer to deal with
stagnation stage by constantly updating it in every field. Other benefits of training
include:
Hiring appeal: companies that provide training attract a better quality
Workforce.
Assessing and addressing any performance deficiency.
Enhancing workforce flexibility.Cross-cultural training is essential for t
Them for better adjustment in the new environment.
Increasing commitment: Training acts as a loyalty booster. Employee
motivation is also enhanced when the employee knows that the
organization would provide them opportunities to increase their skills and
knowledge. It gives the organization a competitive edge by keeping abreast of the latest
changes; it acts as a catalyst for change.
Higher customer satisfaction and lower support cost results through
improved service, increased productivity and greater sufficiency.
Training acts as benchmark for hiring promoting and career planning.
It acts act as a retention tool by motivating employee to the vast
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opportunities for growth available in an organization.
THE EVALUATION OF TRAINING
There are a number of expressions used to describe steps taken by management
and by training offices at the conclusion of training and during the days or weeks afterwards. These expressions include validation, evaluation, follow-up and
implementation, as well as cost benefit, which have appeared in more recent years.
We are interested in all of these and have already tackled one of the,
implementation, and we start by giving our definitions in order to establish a clearer
picture of what each is, and how they relate to each other. Evaluation of training, or,
indeed of anything, consists simply of putting a value to it. To evaluate training
means undertaking a search for the effect that it has had on the people and the
situations, which it influences, and then trying to measure or estimate whether
this is advantageous or disadvantageous. We shall see that at the level of pure
training there is an evaluation to be made, but that the principal evaluation is at a
higher level in the chain. First the chain of intentions is clear at the outset
The forecourt attendants were to receive training to a defined level of
competence.
They were then to apply their new capability correctly during the service that they
gave to motorists.
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The motorists would respond to this with a reaction of pleasure and would tend to
use that particular station rather more, thus increasing the amount of gasoline
sold.The increased sales, and negligible increased costs, would improve the revenue
and the profits.
A TRAINING TOOL: INSPIRING OTHERS
In the new era new era, challenges for the trainer are to create learning
environment.
Trainer needs to innovate new ways design and deliver the training inputs. Wide
range of technique like interactive methods like teaching, experiential learning cases
inventories games, including humour. Where as we have the ancient way of story
telling as a powerful tool to create learning for adult managers of industry. Sharing
ones own perception, experience and ideas learning value can be increased
exponentially.
Methods of Training
There are various methods of training, which can be divided in to cognitive and
behavioral methods. Trainers need to understand the pros and cons of each
method, also its impact on trainees keeping their background and skills in mind
before giving training. Cognitive methods are more of giving theoretical training to
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the trainees. The various methods under Cognitive approach provide the rules for
how to do something, written or verbal information, demonstrate relationships among
concepts, etc. These methods are associated with changes in knowledge and
attitude by stimulating learning. The various methods that come under Cognitive approach are:
LECTURES – A Method of Training
It is one of the oldest methods of training. This method is used to create
understanding of a topic or to influence behavior, attitudes through lecture. A lecture
can be in printed or oral form. Lecture is telling someone about something. Lecture
is given to enhance the knowledge of listener or to give him the theoretical aspect of
a topic. Training is basically incomplete without lecture. When the trainer begins the
training session by telling the aim, goal, agenda, processes, or methods that will be
used in training that means the trainer is using the lecture method. It is difficult to
imagine training without lecture format. There are some variations in Lecture
method. The variation here means that some forms of lectures are interactive while
some are not. Straight Lecture: Straight lecture method consists of presenting
information, which the trainee attempts to absorb. In this method, the trainer speaks
to a group about a topic. However, it does not involve any kind of interaction
between the trainer and the trainees. A lecture may also take the form of printed
text, such as books, notes, etc. The difference between the straight lecture and the
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printed material is the trainer’s intonation, control of speed, body language, and
visual image of the trainer. The trainer in case of straight lecture can decide to vary
from the training script, based on the signals from the trainees, whereas same
material in print is restricted to what is printed. A good lecture consists of
introduction of the topic, purpose of the lecture, and priorities and preferences of the
order in which the topic will be covered. Main Features of Lecture Method Some of
the main features of lecture method are:
Inability to identify and correct misunderstandings
Less expensive
Can be reached large number of people at once
Knowledge building exercise
Less effective because lectures require long periods of trainee inactivity
Demonstration Training Method
This method is a visual display of how something works or how to do something. As
an example, trainer shows the trainees how to perform or how to do the tasks of the
job. In order to be more effective, demonstration method should be should be
accompanied by the discussion or lecture method. To carry out an effective
demonstration, a trainer first prepares the lesson plan by breaking the task to be
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performed into smaller modules, easily learned parts. Then, the trainer sequentially organizes those modules and prepares an explanation for why that part is required.
While performing the demonstration, trainer: Demonstrates the task by describing
how to do, while doing
Helps the focusing their attention on critical aspects of the task
Tells the trainees what you will be doing so they understand what you will be
showing them
Explains why it should be carried out in that way The difference between the
lecture method and the demonstration method is the level of involvement of the
trainee. In the lecture method, the more the trainee is involved. The financial costs
that occur in the demonstration method are as follows:
Cost of training facility for the program
Cost of materials that facilitate training
Food, travel, lodging for the trainees and the trainers
Compensation of time spent in training to trainers and trainees
Cost related to creating content, material
Cost related to the organization of the training
After completing the demonstration the trainer provide feedback, both positive and or
negative, give the trainee the opportunity to do the task and describe what he is
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doing and why.
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Discussion Training Method
This method uses a lecturer to provide the learners with context that is supported,
elaborated, explains, or expanded on through interactions both among the trainees
and between the trainer and the trainees. The interaction and the communication
between these two make it much more effective and powerful than the lecture
method. If the Discussion method is used with proper sequence i.e. lectures,
followed by discussion and questioning, can achieve higher level knowledge
objectives, such as problem solving and principle learning. The Discussion method
consists a two-way flow of communication i.e. knowledge in the form of lecture is
communicated to trainees, and then understanding is conveyed back by trainees to
trainer. Understanding is conveyed in the form of verbal and non-verbal feedback
that enables the trainer to determine whether the material is understood. If yes, then
definitely it would help out the trainees to implement it at their workplaces and if not,
the trainer may need to spend more time on that particular area by presenting the
information again in a different manner.
Questioning can be done by both ways i.e. the trainees and the trainer. When the
trainees ask questions, they explain their thinking about the content of the lecture. A trainer who asks questions stimulates thinking about the content of the lecture.
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Asking and responding questions are beneficial to trainees because it enhance
understanding and keep the trainees focused on the content. Besides that,
discussions, and interactions allow the trainee to be actively engaged in the material
of the trainer. This activity helps in improving recall.
Computer-Based Training (CBT)
With the world-wide expansion of companies and changing technologies, the
demands for knowledge and skilled employees have increased more than ever,
which in turn, is putting pressure on HR department to provide training at lower
costs. Many organizations are now implementing CBT as an alternative to classroom
based training to accomplish those goals
Some of the benefits of Computer-Based Training are:
According to a recent survey, about 75% of the organizations are providing training
to employees through Intranet or Internet. Internet is not the method of training, but
has become the technique of delivering training. The growth of electronic technology
has created alternative training delivery systems. CBT does not require face-to-face
interaction with a human trainer. This method is so varied in its applications that it is
difficult to describe in concise terms. The various methods that come under
Cognitive approach are :
INTELLEGENT TUTORIAL SYSTEM(ITS)
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PROGRAMMED INSTRUCTION (PI)
VIRTUAL REALITY
Behavioural methods are more of giving practical training to the trainees. The various
methods under Behavioural approach allow the trainee to behaviour in a real fashion.
These methods are best used for skill development. The various methods that come
underBehavioural approach are:
GAMES AND SIMULATIONS
BEHAVIOR-MODELING
BUSINESS GAMES
CASE STUDIES
EQUIPMENT STIMULATORS
IN-BASKET TECHNIQUE
ROLE PLAYSS
Both the methods can be used effectively to change attitudes, but through different
means. Another Method is MANAGEMENT DEVELOPMENT METHOD –
COACHING
Coaching is one of the training methods, which is considered as a corrective method
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for inadequate performance. According to a survey conducted by International
Coach Federation (ICF), more than 4,000 companies are using coach for their
executives. These coaches are experts most of the time outside consultants.
A coach is the best training plan for the CEO’s because
It is one-to-one interaction
It can be done at the convenience of CEO
It can be done on phone, meetings, through e-mails, chat
It provides an opportunity to receive feedback from an expert
It helps in identifying weaknesses and focus on the area that
needs improvement.
This method best suits for the people at the top because if we see on emotional
front, when a person reaches the top, he gets lonely and it becomes difficult to find
someone to talk to.It helps in finding out the executive’s specific developmental
needs. The needs can be identified through 60 degree performance review.
PROCEDURE OF THE COACHING
The procedure of the coaching is mutually determined by the executive and coach.
The procedure is followed by successive counseling and meetings at the executive’s
convenience by the coach.
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Understand the participant’s job, the knowledge, skills, and attitudes, and
resources required to meet the desired expectation.
Meet the participant and mutually agree on the objective that has to be achieved
Mutually arrive at a plan and schedule.
At the job, show the participant how to achieve the objectives, observe the
performance and then provide feedback.
Repeat step 4 until performance improves.
For the people at middle-level management, coaching is more likely done by the
supervisor; however experts from outside the organization are at times used for
upand-coming managers. Again, the personalized approach assists the manger
focus on definite needs and improvement.
Mentoring
Mentoring is an ongoing relationship that is developed between a senior and junior
employee. Mentoring provides guidance and clear understanding of how the organization goes to achieve its vision and mission to the junior employee
The meetings are not as structured and regular than in coaching. Executive
mentoring is generally done by someone inside the company. The executive can
learn a lot from mentoring. By dealing with diverse mentee’s, the executive is given
the chance to grow professionally by developing management skills and learning
how to work with people with diverse background, culture, and language and
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personality types Executives also have mentors. In cases where the executive is
new to the organization, a senior executive could be assigned as a mentor to assist
the new executive settled into his role. Mentoring is one of the important methods for
preparing them to be future executives. This method allows the mentor to determine
what is required to improve mentee’s performance. Once the mentor identifies the
problem, weakness, and the area that needs to be worked upon, the mentor can
advise relevant training. The mentor can also provide opportunities to work on
special processes and projects that require use of proficiency. Some key points on
Mentoring
Mentoring focus on attitude development
Conducted for management-level employees
Mentoring is done by someone inside the company
It is one-to-one interactionIt helps in identifying weaknesses and focus on the area that needs improvement
Job Rotation
For the executive, job rotation takes on different perspectives. The executive is
usually not simply going to another department. In some vertically integrated
organizations, for example, where the supplier is actually part of same organization
or subsidiary, job rotation might be to the supplier to see how the business operates
from the supplier point of view. Learning how the organization is perceived from the
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outside broadens the executive’s outlook on the process of the organization. Or the
rotation might be to a foreign office to provide a global perspective. For managers
being developed for executive roles, rotation to different functions in the company is
regular carried out. This approach allows the manger to operate in diverse roles and
understand the different issues that crop up. If someone is to be a corporate leader,
they must have this type of training. A recent study indicated that the single most
significant factor that leads to leader’s achievement was the variety of experiences in
different departments, business units, cities, and countries. An organized and helpful
way to develop talent for the management or executive level of the organization is
job rotation. It is the process of preparing employees at a lower level to replace
someone at the next higher level. It is generally done for the designations that
are crucial for the effective and efficient functioning of the organization.
Benefits of Job Rotation
Some of the major benefits of job rotation are:
It provides the employees with opportunities to broaden the horizon of
knowledge, skills, and abilities by working in different departments, business
units, functions, and countries
Identification of Knowledge, skills, and attitudes (KSAs) required
It determines the areas where improvement is required
Assessment of the employees who have the potential and caliber for filling the
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Position.
OFF THE JOB TRAINING –
There are many management development techniques that an employee can take in
off the job. The few popular methods are:
SENSITIVITY TRAINING
TRANSACTIONAL ANALYSIS
STRAIGHT LECTURES/ LECTURES
SIMULATION EXERCISES
Training Need Analysis (TNA)
An analysis of training need is an essential requirement to the design of effective
training. The purpose of training need analysis is to determine whether there is a
gap between what is required for effective performance and present level of
performance.
Why training need analysis?
Training need analysis is conducted to determine whether resources required are
available or not. It helps to plan the budget of the company, areas where training is
required, and also highlights the occasions where training might not be appropriate
but requires alternate action.
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Corporate need and training need are interdependent because the organization
performance ultimately depends on the performance of its individual employee and
its sub group.
Organizational Level – Training need analysis at organizational level focuses on
strategic planning, business need, and goals. It starts with the assessment of
internal environment of the organization such as, procedures, structures, policies,
strengths, and weaknesses and external environment such as opportunities and
threats. After doing the SWOT analysis, weaknesses can be dealt with the training
interventions, while strengths can further be strengthened with continued training.
Threats can be reduced by identifying the areas where training is required. And,
opportunities can be exploited by balancing it against costs. For this approach to be
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successful, the HR department of the company requires to be involved in strategic
planning. In this planning, HR develops strategies to be sure that the employees in
the organization have the required Knowledge, Skills, and Attributes (KSAs) based
on the future KSAs requirements at each level .
Individual Level – Training need analysis at individual level focuses on each and
every individual in the organization. At this level, the organization checks whether an
employee is performing at desired level or the performance is below expectation. If
the difference between the expected performance and actual performance comes
out to be positive, then certainly there is a need of training. However, individual
competence can also be linked to individual need. The methods that are used to
analyze the individual need are: Appraisal and performance review Peer appraisal
Competency assessments
Subordinate appraisal
Client feedback
Customer feedback
Self-assessment or self-appraisal
Operational Level – Training Need analysis at operational level focuses on the work
that is being assigned to the employees. The job analyst gathers the information on
whether the job is clearly understood by an employee or not. He gathers this
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information through technical interview, observation, psychological test;
questionnaires asking the closed ended as well as open ended questions, etc.
Today, jobs are dynamic and keep changing over the time. Employees need to
prepare for these changes. The job analyst also gathers information on the tasks
needs to be done plus the tasks that will be required in the future. Based on the
information collected, training Need analysis (TNA) is done.
Training-Design
The design of the training program can be undertaken only when a clear training
objective has been produced. The training objective clears what goal has to be
achieved by the end of training program i.e. what the trainees are expected to be
able to do at the end of their training. Training objectives assist trainers to design the
training program.
The trainer – Before starting a training program, a trainer analyses his technical,
interpersonal, judgmental skills in order to deliver quality content to trainers
The trainees – A good training design requires close scrutiny of the trainees and
their profiles. Age, experience, needs and expectations of the trainees are some of
the important factors that affect training design.Training climate – A good training climate comprises of ambience, tone, feelings,
positive perception for training program, etc. Therefore, when the climate is
favourable nothing goes wrong but when the climate is unfavourable, almost
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everything goes wrong.
Trainees’ learning style – the learning style, age, experience, educational
background of trainees must be kept in mind in order to get the right pitch to the
design of the program.
Training strategies – Once the training objective has been identified, the trainer
translates it into specific training areas and modules. The trainer prepares the
priority list of about what must be included, what could be included.
Training topics – After formulating a strategy, trainer decides upon the content to be
delivered. Trainers break the content into headings, topics, ad modules. These
topics and modules are then classified into information, knowledge, skills, and
attitudes.
Sequence the contents – Contents are then sequenced in a following manner:
From simple to complex
Topics are arranged in terms of their relative importance
From known to unknown From specific to general
Dependent relationship
Training tactics – Once the objectives and the strategy of the training program
becomes clear, trainer comes in the position to select most appropriate tactics or
methods or techniques. The method selection depends on the following factors:
Trainees’ background
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Time allocated
Style preference of trainer
Level of competence of trainer
Availability of facilities and resources, etc
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Support facilities – It can be segregated into printed and audio visual. The various
requirements in a training program are white boards, flip charts, markers, etc.
Constraints – The various constraints that lay in the trainers mind are:
Time
Accommodation, facilities and their availability
Furnishings and equipments
Budget
Design of the training, etc
Training Implementation
To put training program into effect according to definite plan or procedure is called
training implementation. Training implementation is the hardest part of the system
because one wrong step can lead to the failure of whole training program. Even the
best training program will fail due to one wrong action.
Training implementation can be segregated into:
Practical administrative arrangements
Carrying out of the training
Implementing Training
Once the staff, course, content, equipments, topics are ready, the training is
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implemented Completing training design does not mean that the work is done
because implementation phase requires continual adjusting, redesigning, and
refining. Preparation is the most important factor to taste the success. Therefore, following are the factors that are kept in mind while implementing training program:
The trainer – The trainer need to be prepared mentally before the delivery of
content. Trainer prepares materials and activities well in advance. The trainer also
set grounds before meeting with participants by making sure that he is comfortable
with course content and is flexible in his approach.
Physical set-up – Good physical set up is pre-requisite for effective and successful
training program because it makes the first impression on participants. Classrooms
should not be very small or big but as nearly square as possible. This will bring
people together both physically and psychologically. Also, right amount of space
should be allocated to every participant.
Establishing rapport with participants – There are various ways by which a trainer
can establish good rapport with trainees by:
Greeting participants – simple way to ease those initial tense moments
Encouraging informal conversation
Remembering their first name
Pairing up the learners and have them familiarized with one another
Listening carefully to trainees’ comments and opinions
Telling the learners by what name the trainer wants to be addressed
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Getting to class before the arrival of learners Starting the class promptly at the scheduled time
Using familiar examples
Varying his instructional techniques
Using the alternate approach if one seems to bog down
Reviewing the agenda – At the beginning of the training program it is very
important to review the program objective. The trainer must tell the participants the
goal of the program, what is expected out of trainers to do at the end of the program,
and how the program will run. The following information needs to be included:
Kinds of training activities
Schedule
Setting group norms
Housekeeping arrangements
Flow of the program
Handling problematic situations
Training Evaluation
The process of examining a training program is called training evaluation. Training
evaluation checks whether training has had the desired effect. Training evaluation ensures that whether candidates are able to implement their learning in their
respective workplaces, or to the regular work routines. Purposes of Training Evaluation The five main purposes of training evaluation are:
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Feedback: It helps in giving feedback to the candidates by defining the objectives
and linking it to learning outcomes. Research: It helps in ascertaining the
relationship between acquired knowledge, transfer of knowledge at the work place,
and training.
CHAPTER-7
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Research:-
Research means a systematic investigation , including research development, testing and
,evaluation, designed to extend or contribute to advanced knowledge. For this research
Descriptive Type Research is used as it tells us about different types or methods and
techniques used to recruit and select the people as an advisor.
Research Methodology:-
Research Methodology can suitably refer to the theoretical analysis of the methods
appropriate to a field of study or to the body of methods and principles and procedures
used for conducting particular study.
Research report began with a study of the available data related to new recruitment in
this industry , as well as the finding of the records of the insurance industry available.
Discussion with insurance advisors gives the direction for the judgment of recruitment
and selection process currently in existence .Methodology of the study refers to the
methods used to collect the required data for research work.
Research methodology is a way systematically solve the research problem . It is a
science of studying how research is done scientifically . The study is to be conducted on
the employees of the organization.
Methodology used is:-
Problem Identification, Where training is required, which strategy will be faithful?
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Data collection-Questionnaire, indentification forms for primary data & for secondary
data.
The data required has been collected from the following sources.
Primary Sources:-
Various forms designed in order to understand the Training & Development programme
adopted by the company.
I had use questionnaire as a tool in my marketing research. I started my project very frist
educating the respondents about my entire project and ask them to co-operate with me .
Mostly all the respondent were aware of this type of surveys. So I didn’t face any type
of difficultyduring my project in the process in the process of explaining and taking their
responses on the questionnaire. Here, respondents includes following :-
Govt. Employee
Pvt. Sector Employee
House Wife
Retired
Student
Business men
Secondary sources:-
Secondary data I got through
Following sources :-
Past Reports
Data Source
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Annual Reports of the Dairy
Reference book
Company profile
Company document
Analysis / evaluation
The data collected from various sources has been converted into a format analysis may
involve determining the pattern and summarizing the appropriate details.
Conclusion and report presentation
The final stage in the research process is to interpret the information and make
conclusion for managerial decision.
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CHAPTER-8
DATA ANALYSIS AND INTERPRETATION
Training is an organized activity for increasing the knowledge & skills of people for a
definite purpose. It involves systematic procedures for transferring technical know-how
to the employees so as to increase their knowledge and skills for doing specific jobs
with efficiency.
Executive or management development consists of all activities by which executives
learn to improve their behaviour and performance. It is designed to improve the
effectiveness of managers in their present jobs and to prepare them for higher jobs in
future.
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Data collection method :
Personal survey has been used to collect the data through structured questionnaire.
Population:
The population consists of the residents of Kasjanj city.
Sampling Method:
Convenience Sampling Method has been used to decide on the selection
of samples.
Sample Size:
100 respondents fromKasganj city.
Sampling Unit:Individuals from Kasganj city.
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Q.1: IS TRAINING PROVIDED IN YOUR ORGANIZATION ON A REGULAR BASIS?
Table No.1
YES90%
NO10%
Figure No.1
INTERPRETATION: In the organization the training is provided on a regular basis.
Yes No
Nova 18 2
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Q.2: THE DURATION OF TRAINING PROGRAMME IS REASONABLE?
Table No.2
YES NO CAN’T SAY
Nova 19 0 1
Figure No.2
INTERPRETATION: In the organization the nineteen employees agreed that they were
given training of reasonable duration.
YES95%
CAN'T SAY5%
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Q.:3 ARE YOU SATISFIED WITH THE TRAINING BEING PROVIDED TO YOU?
Table No.3
HIGHLY
SATISFIED
SATISFIED UNDECIDED DISSATIFIED HIGHLY
DISSATIAFIED
Nova 2 14 1 2 1
INTERPRETATION: In
Nova, the fourteen
employees of Nova were
satisfied and two employees were dissatisfied with the training being provided to them.
HIGHLY SATISFIED10%
SATISFIED75%
UN-DE-
CIDED5%
DISSATISFIED10%
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Q.4 WHAT TRAINING METHODS ARE USED IN YOUR ORGANITION?
Table No.4
ON –THE JOB OFF-THE JOB BOTH
Nova 15 3 2
ON THE JOB75%
OFF THE JOB15%
BOTH10%
INTERPRETATION Nova, most of employees agreed that ON-THE JOB training
method is used in their organization.
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Q.5: WHICH TYPE OF ON-THE JOB TRAINING IS USED?
Table No.5
MENTORING VESTIBULE COACHING JOB ROTATION
OTHERS
Nova 14 4 2
MENTORING70%
JOB ROTATION20%
OTHERS10%
INTERPRETATION Nova mentoring training is mainly provided to the employees where
as the other training which is provided by the organization is mainly job rotation.
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Q.6: IS THE EFFICIENCY OF THE EMPLOYEES INCREASES AFTER THE COMPLETION OF
TRAINING PROGRAM?
Table No.6
YES NO CAN’T SAY
Nova 18 0 2
YES90%
CAN'T SAY10%
INTERPRETATION: In Nova the efficiency of the employees were increased after the
completion of training program
.
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Q.7: THE TRAINERS HAVE THE EXPERTISE AND REQUIERD KNOWLEDGE FOR
IMPARTING TRAINING?
Table No.6
YES NO CAN’T SAY
Nova 12 6 2
YES60%
NO30%
CAN'T SAY10%
INTERPRETATION Nova, twelve people have agreed that the trainers have the
expertise and knowledge for imparting training.
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Q.8 THE TRAINING PROCESS INVOLVES PARTICIPATION OF TRAINEES.
Table No.8
YES NO CAN’T SAY
Nova 15 5 0
YES75%
NO25%
INTERPRETATION: in Nova most of the employees were agreed to it .
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Q.9: THE ORGANITION ENCOURAGES THE EMPLOYEES FOR TRAINING?
Table No.9
YES NO CAN’T SAY
Nova 13 6 1
YES65%
NO30%
CAN'T SAY5%
INTERPRETATION: In Nova employees were encouraged by the organization.
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CHAPTER-9
CONCLUSIONS,SUGGESTIONS& LIMITATIONS
o Training is the process of increasing the knowledge and skills for doing a
particular job. It is an organized procedure by which people learn knowledge and
skill for a definite purpose. The purpose of training is basically to bridge he gap
between job requirement and present competence of an employee. Training is
aimed at improving the behavior and performance of a person. It is a never
ending or continuous process. Training is closely related with education and
development but to be differentiated from these terms.
o Training helps to improve the level of performance. Trained employees perform
better by using better method of work. Improvements in manpower productivity
in developed nations can be attributed in no small measure to their educational
and industrial training programmes.
o Trained employees make more economical use of materials and machinery.
Reduction in wastage and spoilage together with increase in productivity help to
minimize cost of operations per unit. Maintenance cost in also reduced due to
fewer machine breakdowns and better handling of equipments. Plant capacity can
be put to the optimum use.
