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Jecrc University, Jaipur: Project Report
Jecrc University, Jaipur: Project Report
“(Stock Management)”
Submitted by
(Archit Mangal)
Student ID: 16BBAN057
Department of Management
Signature of student
Name of Student: Vedant Garg
Student ID: 16BBAN089
Certified that the above statement made by the student is correct to the best of
our knowledge
Designation: Designation:
Assistant Professor HR Head
Preface
I would also like to thank Mr. Ronak Muchhal (Director) and Mr. Akshay
Soni (HR head) my supervisor of S.S. Associates, and my colleague who
helped me by providing informative instructions. I was closely attached with
them during my internship tenure. Without them this project would have been
very difficult.
Acknowledgements
First, with profound pleasure and proud privilege, I take this opportunity to
express my deep sense of gratitude and indebtedness to the S.S. Associates
for giving me the opportunity to undertake this project.
With great sense of gratitude, I also thank him for his experienced judgement,
endless interest and constant encouragement without which it would not been
possible for me to accomplish the project successfully. There is a saying
“Hundred miles journey begins with one step”. It was my first step in the
industry so that with immense gratitude and artful appreciation, I am grateful
to Mr. Akshay Soni (HR Head) for providing his esteemed guidance and
valuable support throughout the internship.
Last but not the least, I find my self-lacking in words to express sense of
gratitude to my beloved parents for their encouragement, moral and emotional
support.
-Vedant Garg
Table of Contents
S.No
. Component Page Number
A Preface 4
B Acknowledgement 5
C Excecutive Summary 7
D Firms’s Introduction 8-9
Introduction of
1 Performance Management
1.1 Performance Management 9-10
1.2 Effective performance 10-12
1.3 Features 20-22
1.4 Scope 22
2 Review of Literature
3 Methodology
3.1 Scope 25
3.2 Obejective of research 26
3.3 Research design 26
3.4 Sampling method 27
4 Analysis
Organisational
4.1 Performance 37-39
4.2 Measures 39-43
E Conclusion 45
G Recommendation 46-47
H Reference 48
I Appendix 49-52
Executive Summary
Being it is concerned with the competencies of the manage that are relevant to
his/her performance. It is preparedness of the mind of the manager.
Doing focuses on the manage activities that are variably effective at different
levels in the organization: that affect performance of other roles dependent on
the manage output, and the organizational performance as a whole. As
someone said, ‗Ideas are funny little things. They won‘t work unless you do.
Relating emphasizes the nature of relationships with members of the role
network-vertical, horizontal or otherwise.
Performance has a linkage with the individual potential and how best it is
realized by the individual. With regard to manage, his/her potential becomes
the input to the productive process and performance is the output. Manager’s
Potential is determined when a set of tasks are assigned to him. It is also
related to performance standards set.
1. Introduction
S.S. Associates, Indore M.P. is a private firm which deals in warehousing and
carry & forwarding
S.S. Associates basic function is to provide different range of services to
exporters to ensure smooth and timely shipment of goods. Clearing and
Forwarding Agents play a pivotal role in the selection of mode and route of
transport. They are the specialized people to guide in selection of the shipping
line/airline. Every exporter is concerned with distribution logistics to ensure,
that the goods reach the final buyer, in specified time and at minimal cost in
the condition they are sent. The essence of distribution logistics is the decision
in respect of mode of transport to he used. Clearing agent advises exporter
about the availability alternative modes of transport and guides exporter in
decision-making about the final choice of transport to achieve optimal cost in
transporting the goods, well within the delivery schedule. In addition to these
activities, he undertakes most of the functions connected with exports such as
marking, labelling, packing of goods, advising on trade laws, arranging local
transportation as well as apprising developments on transportation and
claiming duty-drawback claims on behalf of the exporter. An efficient clearing
and forwarding agent, goes a long way to the exporter in the journey of
exports to make the matters easier, comfortable and may be cheaper too.
Above all, the agents act trouble-shooters for the exports, in case of movement
problems. It is well said a real clearing agent can perform all the functions
except selling the goods.
MISSION:
How do you expect the employee to act with clients, colleagues, and
supervisors?
What are the organizational values the employee must demonstrate?
Results
(The goods and services produced by an employee often measured by
Objectives or standards)
Include both positive feedback for a job well done and constructive
feedback when improvement is needed
Ensure that employee work plans support the strategic direction of the
organization
Being it is concerned with the competencies of the managee that are relevant
to his/her performance. It is preparedness of the mind of the manager. Doing
focuses on the manage activities that are variably effective at different levels
in the organization: that affect performance of other roles dependent on the
manage output, and the organizational performance as a whole. As someone
said, Ideas are funny little things. They won‘t work unless you do.‘ Relating
emphasizes the nature of relationships with members of the role network-
vertical, horizontal or otherwise. Performance has a linkage with the
individual potential and how best it is realized by the individual. With regard
to manage, his/her potential becomes the input to the productive process and
performance is the output. Managee’s Potential is determined when a set of
tasks are assigned to him. It is also related to performance standards set. Task-
related activities refer to managee‘s or supervisors involvement to achieve the
allocated task or meet expectations in the given task environment.
Performance is what the managee’s actually achieve. Performance in a role
refers to the extent to which the managees achieve the purpose for which the
role is created.
Feedback on Performance.
3. Cooperation but not control – the managers should nurture the practice of
getting work done through the system of obtaining managees‘consensus rather
than through control or coercion.
There must be a system that would help to monitor and measure all
performance against the set standards and the managees need to be informed
of their shortcomings. The evaluation system should be made transparent so as
to repose managee‘s faith in the system.
Performance planning
Day-to-day coaching
Day-to-day feedback
3. Methodology
MANAGEMENT:
Management is the art of getting things done through and with people
in Anomaly organized group (According to Harold Koontz). System
An organized, purposely structure that comes of interrelated and
interdependent elements (compounds, entities, cores, members, parts
etc.). These elements continue to influence one another directly or
indirectly to maintain their activity and the existence of the system in
order to achieve the goal of the system.
The research design of this study considering is objective, scope & coverage
was exploratory as well as descriptive in nature.
SOURCES OF INFORMATION
PRIMARY DATA
The primary data has been from the selected courses & sent executive at
various departments of S.S. Associates through circulation of the structured
non-disguised questionnaire.
SECONDARY DATA
The secondary data has been obtained from published as well as unpublished
literature on the topic and from Books. Journals. News Papers, Articles,
Thesis, Websites, Magazines etc.
SAMPLING DECISIONS
SAMPLE SIZE
Appropriate number of sample size was put to used for the purpose of
collecting primary data from the selected samples of different departments of
the S.S. Associates
SAMPLING FRAMES
The representative sampling units in appropriate & justified size has been
conveniently drawn from amongst different employees are various
heterogeneous Socio economic age groups, occupations, educational
qualifications gender who have availed incentives employees monk as offered
by the performance management system of the S.S. Associates.
RESEARCH INSTRUMENT:
SAMPLING MEDIA:
The collected information and primary data has been subjected to data analysis
and interpretation content analysis and statistical analysis. The collected
primary data has been pre-coded consider in designing of the structured non-
disguised questionnaire, The primary data has been scrutinized, edited and
validated and thereafter it has been presented in the forms of tables, charts,
graphs and diagrams as the case may be.
This research study has covered the performance management system which
help to find effective performance of the employees. The employees has been
aware of the panel standard of the company. It has been create awareness of
performance management system to improve effective performance and also
to the different criteria of the S.S. Associates. This research study also assists
to S.S. Associates authorities in the designing of the performance management
system for improving performance. Organization will be able to develop
performance review techniques to control the performance of the employees.
The researcher has used selected statistical tools which are relevant to
research study & thus having limited generalizability.
The time factor in collecting the research study has been limited factor.
(1) Gender –
Gender
male
female
(2) Age –
Age Sales,Age
20-25 26-35
Age, 0, 56-50
0%
Sales,
20-25,
Sales, 56-
12,
50, 18,
22%
33%
Sales, 26-
35, 24, 45%
(3) Qualification -
Chart Title
graduate
post graduate
diploma
others
From the above table, 56% of the employees have work experience of
2-4 years, 37% have work experience more than 4 years, 7% of the
employees have the work experience of less than one year.
Chart Title
2-4 years
From the above table 93% of the respondents believes that the current
performance management system does affect the performance where as, 7% of
the respondents do not believe that the current performance management
system is going anywhere.
Majority of them believes that the current performance system does helps in
improving performance.
Column1, Column1,
Chartno
yes , 0,
Title
no, 4, 7% 0%
Column1, yes,
50, 93%
From the above table all the HR professionals believes that performance
management helps to decide how to pay the each individual.
4. Analysis
Performance is all of these. It‘s the end result of an activity. And whether that
activity is hours of intense practice before a concert or race or whether it‘s
carrying out job responsibilities as efficiently and effectively as possible,
performance is what results from that activity.
The value created by Michael Jordan and other assets of the Bulls (coach Phil
Jackson; other talented team players including Scottie, Pippen and Dennis
Rodman; experienced marketing, operations, and financial employees; and
other resources including the arena and practice facilities, available capital,
etc) was possible only because they were managed extremely well as a
portfolio of assets. That‘s what managers at high-performing companies do—
they manage the organizational assets in ways that exploit their value. Asset
management is the process of acquiring, managing, renewing, and disposing
of assets as needed, and of designing business models to take advantage of the
value from these assets. It‘s not just the top-level managers who are concerned
with asset management.
Managers at all organizational levels and in all work areas manage their
available assets—people, information, equipment, and so forth—by making
decisions that they hope will lead to high levels of performance. Because
achieving high levels of organizational performance is important in both the
short run and long run, managers look for ways to better manage their assets
so that they look good on the key performance measures used by both internal
and external evaluators.
Increased Ability to Provide Customer Value providing value to customers is
important for organizations. If customers aren‘t receiving something of value
from their interactions with organizations, they‘ll look elsewhere. Managers
should monitor how well they‘re providing customer value, and they can do
that when they measure performance. For example, at IBM‘s Industry
Solutions Laboratories in Hawthorne, New York, Stuttgart, Germany, and
Yamato, Japan, customers interact with IBM researchers to come up with
technological solutions that meet their unique and challenging needs. For
instance, Britain‘s Safeway Stores PLC and the Hawthorne Lab collaborated
on a consumer application that gives top customers the ability to conveniently
create and maintain personalized grocery shopping lists and preorder groceries
using a portable handheld device. And the Hawthorne Lab completed a project
for Southwest Airlines that automated the crew-pairing process-a company
logistics nightmare in which 2,700 pilots, 4,500 flight attendants, and more
than 2,400 daily departures had to be logistically coordinated. It was important
for the lab‘s managers to be able to measure how well they solved customer
problems and to gauge their ability to provide customer value.
1. Productivity
2. Organizational Effectiveness,
3. Organizational Ranking.
Peter F. Drucker the well-known management guru was of the view that an
organization‘s employees need to see the connection between what they do
and the outcomes. He said, ―The focus of the organization must be on
performance… The spirit of organization is high performance standards, for
the group as well as for each individual. But before employees can see this
connection and work toward achieving high performance, managers need to
specify the performance outcomes that will be measured. The most frequently
used organizational performance measures include organizational
productivity, organizational effectiveness, and industry rankings.
It‘s management‘s job to increase productivity by reducing the input cost and
increasing the output price (selling price). Doing this means being more
efficient in performing the organization‘s work activities. So, organizational
productivity becomes a measure of how efficiently employees do their work.
―We are increasing our company‘s capability by increasing the capability of
our employees.‖ Ford was investing in its future productivity by making
employees more efficient in their job-related use of the Internet, said the Chief
Information Officer of Ford Motors.
In the last few years, small, medium and micro enterprises (SMMEs)
developed into an important role player in the South African economy.
SMMEs are viewed as a key source of employment, and one of the objectives
of the National Skills Development Strategy is to stimulate and support skills
development initiatives in SMMEs. In view of this, performance management
should be an important aspect in SMMEs, but it often is not applied.
Key challenges in SMMEs that impact on effective performance management
include:
Little support
Keep it simple
Make sure you have a formal defined strategy before you implement
performance management
Over the past few years Indian Corporates have increasingly started to link
reward to performance. “Consequence” management is a term that is used
more and more – the underlying assumption is that direct reward (or the
withholding thereof) will strongly impact on the employee’s motivation to
perform better.
The following assumptions often underpin the link between performance and
reward:
Lack of objectivity
Lack of transparency
Affordability
The aspects that get rewarded are not linked to strategy – the “wrong”
behaviour and achievements are sustained
Career planning
Rewards
Training and development
Disciplinary decisions
Promotions, etc
6. Recommendations/ Learning
Performance bonuses
Commissions
Suggestion schemes
7. References
Websites:
www.google.com
www.scribd.com
Books:
From the above table, 87% respondents are in favour of organization operate
formal performance management system, 13% respondents are not in favour
of organization operate in formal performance management system.
Column1, No, Column1,
Yes , 0,No Column1, , 0,
10, 19% 0% 0%
Column1, Yes
, 44, 81%
From the above table, out of 54 respondents, 30 from the professionals do this
process applied, 10 from the others, 12 from the technical, 2 from the senior
managers do this process applied.
Other managers
Professionals
(2) What are the techniques that are used in your organisation for
assessing performance?
From the above table, 87% of the respondents are in favour of checklist
techniques that are used in organization for assessing performance, 10%
respondents are in favour of observation techniques that are used in
organisation for assessing performance, 3% respondents are in favour of
assessment & development centres techniques that are used in organisation for
assessing performance.
observation
assessment &
development
checklist