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Employee Job Satisfaction A Study at ICICI Prudential Life Insurance Co Ltd

OBJECTIVES

The main objective of this Employee Job Satisfaction A Study MBA HR Project at ICICI Prudential Life Insurance Co Ltd is to describe the various expectations that determine the satisfaction level of employee.

To identify the factors concerning employee job satisfaction and to analyze and interpret the collected data.

LIMITATIONS

  1. Due to the constraint of time and resources, the study was conducted in ICICI Prudential Life Insurance Co. Ltd and the results of the study cannot be generalized.
  2. The accuracy of the analysis and conclusion drawn entirely depends upon the reliability of the information provided by the employees.
  3. Sincere efforts were made to cover maximum departments of the employees, but the study may not fully reflect the entire opinion of the employees.
  4. In the fast moving/changing employee’s behavior, many new and better things may emerge in the near future, which cannot be a safeguard in this report.
  5. Confidential matters restricted to an in-depth study.

FINDINGS

  • 78% of employees are receiving regular job performance feedback in the organization, remaining 22% of employees specified that the organization needs to take regular job performance feedback.
  • 80% of the employees said that they are satisfied with the employee welfare programmes
  • 80% of employees felt that they are treated fairly by the superiors as well as by the organization members
  • 74% of respondents satisfied with the employee policies at the company remaining 6% are neutral and 20% of respondents are dissatisfied.
  • 62% of respondents are satisfied with the salary structure, 18% of respondents are extremely satisfied, 7% of the respondents are neutral, 13% of the respondents are dissatisfied that the company offers a salary structure.
  • 50% of respondents said good about the safety and health standard of the company.
  • 55% of respondents are giving very important towards the recognition and 35% of respondents are giving importance remaining 10% respondents are neutral towards the recognition.
  • 20% of the respondents are highly satisfied with their position in the company and 30% of respondents are satisfied 10% are neither or nor 40% of respondents are dissatisfied with their position.
  • 62% of the respondents satisfied with the vision & values of management, 18% of the respondents are highly satisfied.
  • 28% of the respondents felt relaxed, 58% are felt normal, and remaining 14% of the respondents felt the work is burdened for them.
  • 80% of respondents give more importance to training & development provided by the company,10% are neutral, 10% of respondents have not given importance.
  • 72% of the respondents have expressed satisfaction towards existing career plan & growth opportunities in ICICI Prudential Life Insurance.
  • 65% of employees are receiving cooperation from all other departments remaining 35% of employees are not receiving cooperation from all other departments.
  • 40% of respondents are satisfied with the company’s quality management system.
  • 71% of the respondents are satisfied with the reward system which is provided by the company.
  • 80% of the employees agree the organization environment is suitable for developing their self-esteem
  • 63% of respondents are satisfied with the appraisal system of the company, 27% of respondents are dissatisfied, 10% of respondents are neutral.
  • 65% of respondents felt duty timings schedule is convenient remaining 35% of respondents felt duty timings schedule is inconvenient.

SUGGESTIONS

  • The organization should try to maintain the same level of satisfaction among employees through better recognition & reward system mechanism.
  • The organization may further try to create a healthy competitive environment through its Programs like employee meeting.
  • An organization may go for facilitating the security for the employees and create awareness about the safety measures provided by the company.
  • For improving the employee’s problem-solving abilities company HR Manager has to take training sessions through the Case study Methods.
  • The company has to provide some better packages like Target achieve incentives, Cash Awards.
    The company has to give the salaries through their performances and provide better positions to best workers.
  • Mainly company has to decentralize the authority to make decisions for better growth and Provide all above-mentioned benefits to the employees.
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Marketing plan to expand services in a private hospital and to be the provider of choice in the region

Marketing plan to expand services in a private hospital and to be the provider of choice in the region.-Analytical Business report Format-5000 words excluding references.

The assignment is to construct an initial marketing plan, in the capacity of a newly created role of a marketing manager in a private healthcare organisation. The marketing manager reports to the director responsible for organisational strategy, who herself has been recently appointed from a private healthcare provider.

The plan will review the current situation for the organisation, with special regard for the provider role the organisation plays and then specify the services that will be included in the scope of the marketing plan for submission to the board. The organisation has current deficit and you have been tasked to generate additional income for the organisation, meanwhile other parts of the organisation are managing to cost cutting exercises.

Your challenge is to produce an initial marketing plan for a range of services you have defined.

It should include:

1. Executive summary
2. Background
2.1. Summary of preconditions and assumptions.
2.2 Defined objectives
2.3 Defined budget
2.4 Past performance against plan
2.5 Resource allocation cascade
3. Analysis
3.1. Corporate vision, corporate strategy
3.2. Internal market research
3.3. SWOT analysis
3.4. External market research
3.4.1. Demography
3.4.2 Target market and target customer
3.4.3 Customer segmentation
3.4.4. Reasons for diversion of referrals to other providers
3.4.5. External market competition
3.4.6. Risk analysis for the option of NOT introducing promotion to the expansion of services
3.5. Analytical Tools
3.5.1. STEEPLE
3.5.2. Analysis using Boston matrix (Boston consulting group)
3.6. Growth Strategy
3.7. Resource allocation cascade for the marketing
3.8. Performance analysis
3.9. Forecasting
3.10. Return On Investments
3.11. Risks
3.12. Contingencies
4. Marketing strategy
4.1. Major programmes
4.2. Measures of success
5. Conclusions-marketing execution / call to action.
6. References

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Online Trading MBA Project

Subject of the Project:

This Online Trading MBA Finance project is about the latest trend in trading through online networking that is taking the business world by storm. Online trading networking or simply put ‘networking on the net’ is fast becoming the easiest, fastest, very focused and a most effective means of growing your chain of contract to help you climb the success ladder of investment faster than any other route can take you.

Scope:

This Online Trading project study covers the different genres of networking, be they the traditional trading through online or more relaxed.

Methodology:

This Online Trading project provides a clear objective insight into the phenomenon of online trading. This project has been a primary data based project right since it conception. Besides a minuscule number of statistics and research data which was found on research online, all the inferences and conclusions have been made on the basis of real time usage of networking websites by people through extensive surveys and research done for users of icicidirect.com and sharekhan.com.

Objective:

The objective of this Online Trading project is to bring in to focus the most innovative upcoming technology trading or investing. So that more and more people are connected each and every day as the world comes closer in a closely knit networking.

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Analysis of the International Fashion Retail Brand

Executive Summary:

This content of this presentation consists of analysis of the International fashion retail brand. This paper mainly focuses on the operational strategy technologies which are being adopted by fashion retail brand which makes them stay far ahead from competitors. The study was carried out on supply chain management and logistics management strategies of fashion retail brand. How could they meet the challenges and market demands parallel to capturing new markets like opening one stare every day across the globe on an average and around 500 stores in a year. The corporate governance policy, the technology, the manufacturing, Research and development concepts which are contributing to their business growth. How they are striving to make their product to be proffered by customers. The Standard operating procedures, the product positioning, Innovation, Quality, pricing, the work scheduling, new trends, the people and the processes were analyzed to understand the success stories and challenges and the gaps. There were few gaps which were Identified and the recommendations were given in technical aspects analysis.

The fashion retail brand is an flagship brand of Inditex incorporated in 1975 in Spain. The fashion retail brand is has its presence in 88 countries with 6500 Stores. The fashion retail brand is growing in such a phase of opening one store every day and an average of 500 stores in a year. The main business objective of fashion retail brand is “ Link customer demand to Manufacturing and link Manufacturing to Distribution. The Main range of fashion retail brand are Men’s, Women’s and Kid’s fashions.

The fashion retail brand has got its Global Head Quarters at Arteixo which is beside La Coruna the same is the head Quarters for fashion retail brand Home which are two brands out of eight Inditex brands. Apart from these fashion retail brand has Head quarters based on states and countries. The fashion retail brand has got Manufacturing setup here and half of their production is being done here. Apart from fashion retail brand has got own manufacturing in Portugal, Moracco and turkey. The fashion retail brand has also out sourced productions at China, Bangladesh, Vietnam, Brazil etc and there are few manufacturing units which are outsources with in the limits of the corporate offices. The turn around time for product to reach from manufacturing to retail is two to three weeks.

The core Team of fashion retail brand consists of Designers, Sourcing Specialists and the Product Development Specialists. The major designs will be released twice in a year by names Fall/Winter and Spring/Summer. Dozens of designs will be created every day and hardly the finest one third will go for production. The turn around time for availability of approved design in store is 15 days. Right from Idea, design, approval, manufacturing and the making the product available at store is 15 days and this is the key for fashion retail brand to make their product ahead and away from competition and competitors. The sourcing specialists across the locations source for best vendor to manufacture and make product available at stores with in TAT.

The other major aspect of fashion retail brand in its product promotion is participation in fashion weeks and events conducted in Paris, Spain, New York, London and Milan. Apart from these TV Ads, Online Marketing, Digital Marketing, university campaigns etc are other promotional activities which are being done by fashion retail brand . In all these the linking of product design to store is the point to be noted. The new product which is developed will be made available at high end and high revenue stores as sample sale and based on the product movement the bulk production will flow and the product will be made available across all stores. The reason behind 1% failure rate compared to 10% failure rate of competitors at fashion retail brand is the trail basis production and sale. The Data from Store Manger, the Data from soft ware etc will be thoroughly analyzed on repeated order patterns, stock dumping, fast moving and slow moving etc is helping fashion retail brand to focus and control the flow. There is a separate team working on this.

The Quality of the product which is keeping fashion retail brand ahead from competitors and the key contributor in this is fabric. More than half of the fabric is being purchased form their purchase offices situated at Barcelona and Hongkong. Recently they have started procuring material from other locations like china etc as well. The major production will be happening at Global Head Quarters and they have tie up with 450 work shops which consists of Man power ranging from 20 – 100 employees in Galicia and Portugal and the cloths will be sent to them for sewing and cutting for final finishing and from them they will come to Main unit again from here the labeling and packing will be done and through trucks etc the products will be sent to their retails across the globe.

The fashion retail brand products will be delivered in less than three weeks where as compared to other competitors who are taking 3 months for design and another three months for manufacturing. The manufacturing of fashion retail brand is highly automated and they are following Just in Time and six Sigma strategies. There is Turn around Time and dead lines even for out sourced vendors as they have more than 200 vendors. The fashion retail brand is mainly focusing on eco friendly manufacturing, the toxic free production is their objective and it will save environment. From 2012 the fashion retail brand has taken oath to produce complete non toxic products and it is following the same not only fashion retail brand it has mandated to their out sourced manufacturers to follow the same.

The fashion retail brand has its own centralized distribution channel. The fashion retail brand has 400000 Square Meters facility at Arteixo and smaller facilities in Mexico, Brazil and Argentina. The Arteixo operates in two shifts and all merchandises happens from the central ware house. The facility has got mobile tracking system, automated machines, Bar coded charts which are capable enough to handle 45000 folded garments in an hour. The distribution is being made as per the orders received and they do will analyze the past sales and the demand and then they will decide on lots and the models which need to be distributed to the respective store. The turn around time for delivering the product at stores is 24 – 36 hours for the stores located in European continent and 24 – 48 hours for the stores which are located outside European continent. 75% of the deliveries will be done by their own trucks and vehicles and the 25% of deliveries will be done by the courier companies like KLM and DHL etc.
The organizational structures and the levels and verticals are framed in very professional manner. All the middle level and top level have a common objective which is vision and strategy of fashion retail brand . The Decision making authority, decentralization of power and decision is making fashion retail brand to have Innovation in their every step.

International Scenario: fashion retail brand feels it is viable to export products to its newly operating countries rather than having manufacturing setup at initial stages. They have an option of alternate channel of marketing/sale like franchisee model. They are open to have a strategic tie up with national level brands when they are entering into new markets and new countries.

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Total Quality Management Implementation in Manufacturing Industry

Total Quality Management is a new mantra in ever organization. It is defined involvement of all the employees in organization towards achieving quality product on a continual improvement basis. The present study was conducted in a cement industry in Hyderabad Viz. Maha Cements, Hyderabad. For collecting the data and input.

One of the quality philosophy is adopted by Toyota Company in Japan, General Motors in USA, Honda company in Japan, Maruti Udyog in India, Tata Steel, TVS Group of companies, Mahindra and Mahindra group of Companies has adopted Total Quality Management principles in their organizations.

There are so many intellectuals working towards the principles of Quality management system. Edward Deming, Shewart, Juran are pioneers for implementing the quality management principles and given number of demonstrations throughout the world for development of quality systems in organization.

The Total Quality Management principles not only applicable to organizations and it can be adopted in service organizations as well. Applo Hospitals, Sun Rise Hospitals, in Hyderabad has adopted Total Quality Management System in their service organizations.

The objectives of the Present Study

  • Understand what total quality management (TQM) and why it is important.
  • Outline the various definitions of quality and project TQM’s viewpoint about Quality
  • Bring out the characteristics features of TQM
  • Give special attention the way TQM has been presented as a model.
  • Making the organization flexible and learning oriented to cope with change
  • Provide confidence to its internal management and other employees that the requirements of quality are being fully filled.
  • Provide confidence to the customer and other stakeholders
  • Improve the quality of its own operations.
  • Achieve, maintain, and continuously improve the quality of products
  • Reduction of the lead times
  • Increase of the flexibility and profitability
  • Early mistake recognition
  • Mistake prevention as a preventive step

Purpose of the Present Study

1. Reduction in wastage: It ensures things are done right and first time ok, so this reduces wastage and defects Quality Assurance. TQM guarantees that all the products and even operations in the org. are of a certain quality standard. This promotes trust to the consumers and also maintains a healthy environment for employees.

2. Customer-base: TQM focuses on the needs of the customers and can be used effectively, to make changes to the existing product design to meet such needs.

3. Failure Analysis: TQM is a statistical tool also. Hence provides a learned person with the faults and failures in various processes. This in turn can be used to make corrective progress.

4. Make Continuous Improvement: This is because changes will enable the organization to develop and explore quality.

5. Managing Supplier Quality

6. Employee empowerment

7. Process improvement:

RESEARCH DESIGN

This research is of EXPLORATORY RESEARCH DESIGN .I will used the questionnaire method for collecting the data.

Data collection: This data is primary data, which I’ll collect with the help of questionnaire.

The secondary data will be collected from company policies, net, Journals etc. The data collected will be analyzed and the same will be interpreted. The compiled data will help me to arrive for conclusion which will help me to give suggestions.

NEED FOR THE STUDY:

1. Reduction in wastage: It ensures things are done right and first time ok, so this reduces wastage and defects
2. Quality Assurance: TQM guarantees that all the products and even operations in the org. are of a certain quality standard. This promotes trust to the consumers and also maintains a healthy environment for employees.
3. Customer-based: TQM focuses on the needs of the customers and can be used effectively, o make changes to the existing product design to meet such needs.
4. Failure Analysis: TQM is a statistical tool also. Hence provides a learned person with the faults and failures in various processes. This in turn can be used to make corrective progress.
5. Make Continuous Improvement
6. Managing Supplier Quality: Company Concepts must extend to company suppliers.
7. Employee empowerment: Increased employee involvement in design and planning.
8. Process improvement

Expected Contribution from the Study

  • Complete Understanding the tools & Techniques of TQM.
  • The TQM Implementation challenges in Indian Manufacturing Industry.
  • Future trends of TQM in Indian Manufacturing Industries.
  • How to coordinate between Men, Machine and Mechanism in effective Implementation of TQM.
  • Contribution of TQM to Indian economy by its Implementation in Industries.
  • Planning, Organizing, Coordinating, Implementing & Controlling TQM.

Limitations of study: Many of the problems associated with quality programs are the result of increased complexity.

  • Employees of the organization may hide the fact.
  • The management did not agree to disclose all the confidential data.
  • Numbers of respondents are very less, so clear conclusion can’t be drawn.
  • It must meet specifications.
  • It must be fit for the use to which it is put by the customer.
  • It is a tool for restructuring is its focus.
  • Initially higher cost of production as more is recognized as rejects.
  • Cost of training personnel.
  • Cost of implementing stages of feedback for employees.

Direction of future research

Spending 45 days in 3 Manufacturing units.