36769454 Reliance Trends Internship
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1. INTRODUCTION AND COMPANY PROFILE1.1 INTRODUCTIONRetail in India Retail industry is the largest industry in India, with an employment of around 8% and contributing to over 10% of the country's GDP. Retail industry in India is expected to rise 25% yearly being driven by strong income growth, changing lifestyles, and favourable demographic patterns. It is expected that by 2016 modern retail industry in India will be worth US$ 175- 200 billion. India retail industry is one of the fastest growing industries with revenue expected in 2007 to amount US$ 320 billion and is increasing at a rate of 5% yearly. A further increase of 7-8% is expected in the industry of retail in India by growth in consumerism in urban areas, rising incomes, and a steep rise in rural consumption. It has further been predicted that the retailing industry in India will amount to US$ 21.5 billion by 2010 from the current size of US$ 7.5 billion. Shopping in India has witnessed a revolution with the change in the consumer buying behaviour and the whole format of shopping also altering. Industry of retail in India which has become modern can be seen from the fact that there are multi- stored malls, huge shopping centres, and sprawling complexes which offer food, shopping, and entertainment all under the same roof. India retail industry is expanding itself most aggressively; as a result a great demand for real estate is being created. Indian retailers preferred means of expansion is to expand to other regions and to increase the number of their outlets in a city. It is expected that by 2010, India may have 600 new shopping centres. In the Indian retailing industry, food is the most dominating sector and is growing at a rate of 9% annually. The branded food industry is trying to enter the India retail industry and convert Indian consumers to branded food. Since at present 60% of the Indian grocery basket consists of non- branded items. India retail industry is progressing well and for this to continue retailers as well as the Indian government will have to make a combined effort.
India Shopping Malls1 ACHARYA INSTITUTE OF MANAGEMENT AND SCIENCES
1. Scope of the Indian Retail Market 2. Indian Organized Retail Market 3. Growth Factors in Indian Organized Retail sector 4. Opportunities in Indian Organized Retail sector 5. Challenges facing the Indian Organized Retail sector 6. Role of Supply Chain in Indian Organized Retail 7. Employment Generation by Indian Organized Retail Sector 8. Indian Organized Retail Sector's Impact on Lifestyles 9. Emerging Trends in Indian Organized Retail Sector 10. Growth of Retail Companies in India 11. Evolution of Indian Retail 12. FDI in Indian Organized Retail Sector
Formats in Indian Organized Retail Sector Hyper marts Large supermarkets, typically 3,500-5000 sq.ft Mini supermarkets, typically 1,000-2,000 sq.ft Convenience stores, typically 750-1,000 sq.ft Discount/Shopping list grocer
Reliance in retail Reliance Retail Limited (RRL) is a subsidiary of Reliance Industries Limited, which is based in Mumbai. RRL was set up in 2006 and marks the foray of the Reliance Group into organized retail. RRL has been conceptualized to include growth for farmers, vendor partners, small shopkeepers and consumers. It is based on Reliances backward integration strategy, to build a value chain starting from farmers to consumers.
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Reliance Retail Ltd. has a number of company-owned outlets along with a franchisee format that would be in collaboration with Kirana shop owners. Its various divisions are: a) Reliance Mart It is designed to be an all under one roof supermarket that again caters to household needs. b) Reliance Fresh It was the first amongst various format stores to be launched by Reliance Retail Ltd. It currently has 453 stores operational across India and the ideology behind the initiative has been to bring Farm to fork thereby removing middle men and benefitting both farmer and consumer. The stores would typically be of an area of around 3,000-5,000 sq ft. Each store is to provide fresh fruits, vegetables and also products of Reliance Select and other related groceries. Each store is to at least 50 employees, thereby giving employment to around 1,500 people in the 30 new outlets. The retail major plans to have a total of 100m sq ft of retail space in 800 cities by the calendar year 2010 and generate revenues of $22 billion by the end of financial year 2011. Presently the Reliance Fresh store sizes are between 1100 sq ft and 7500 sq ft depending upon the location. c) Reliance Super It will be a smaller version of the hypermarket format. It is to offer over 10,000 products in various categories like grocery, home care, stationery, pharmaceutical products, apparels & accessories, FMCG, consumer durables & IT, automotive accessories and lifestyle products. Reliance Super stores are to be large supermarkets with an area of 4,000 to 10,000 sq. ft. and will not sell fruits and vegetables like Reliance Fresh. d) Reliance Digital It is a consumer electronics concept mega store. It is designed to be a one stop shop for all technology solutions in the field of consumer electronics, home appliances, information technology and telecommunications. The stores are to cover an area of more than 15,000 sq. ft. and offer a variety of over 4,000 products spread across 150 brands along with solution bundles to meet diverse customer needs. The staff will counsel and guide customers not only to buy products but also provide complete solutions to ensure consumers buy the right product at the right price. It will continue to offer Reliance One, a common membership and loyalty program across all formats, which follows the philosophy Earn Anywhere, Spend Anywhere. It shall also provide finance options for purchases. Reliance Digital is to be a large format store spread across 15,000 to 35,000 sq. ft. and is scheduled to come up in 70 cities in India in the near future. e) Reliance Trends It is a specialty apparel store that will sell men, women and childrens garments. The store will carry the best of national and international brands like John Players, Peter England, Indigo3 ACHARYA INSTITUTE OF MANAGEMENT AND SCIENCES
Nation, Wrangler, Reebok, and Lee, apart from in-house brands. The store layout is to compliment the evolving taste and preference of fashion savvy consumers, giving them an opportunity to view /shop with ease, along with well trained customer service associates, to compliment the entire shopping process. By 2010, Reliance has planned to open 100 more stores across the country with focus on major cities. The company is targeting a turnover of `20,000 crore ($5 billion) from this format. This is a part of the US$ 25 billion (`100,000 crore) overall sales from retail business. f) Reliance Wellness It is a chain of specialty wellness stores that would offer pre-emptive, curative as well as health and beauty solutions. The store is to add value to peoples lives, by providing products and services that will proactively work to enrich peoples body, mind and spirit. It is to house world class products under one roof and also educate consumers on their health needs, thus enabling them to take charge of their health. It will sell international and national brands like H2O, Neutrogena, Olay, Sports Nutrition, etc. They will also house alternate medicine, health books & music. The stores are to showcase Wellness Events, Seminars, Workshops and Advisory camps on contemporary wellness issues like diabetes, hypertension, fitness, diet and nutrition, weight management and skin care. g) Reliance Footprints It is a specialty footwear store that would offer over 25,000 pairs of formal, casual, ethnic, party wear and sports wear in men, women and children footwear. The store is to be spread over 7,500 square feet and be dedicated to footwear, handbags and accessories. The design of Footprint was conceptualized by Pavlik of USA which is one of the best design houses in the world keeping in mind the taste and preferences of the Indian consumer. It shall offer brands from Europe and America like Josef Siebel, Rockport, Hush Puppies, Lee Cooper Clarks, Levis, Nike, Adidas, Piccadilly, Dr. Scholls and more. For kids, Crocs and Disney will be showcased. The store plans a pan-India presence by opening over 15 more specialty stores. h) Reliance Jewels It is a stand-alone fine jewellery format. It is to be a one stop shopping destination for fine jewellery. Reliance Retail ventured into gems and jewellery trade with the aim of launching 300 stores all over India within a 3 year time frame. With a growing demand for jewellery and lower competition, Reliance Retail Ltd. plans to overtake Tatas Tanishq by 2010. The gold jewellery range shall include Kolkata Filigree, Rajkot minakari jewellery, Kundan from Jaipur, Temple jewellery from Kerala, Jadau from Amritsar and more. In Diamond jewellery, Reliance Jewels will offer the finest quality of diamonds and the widest range of daily wear, party wear and wedding designs. i) Reliance Timeout With over 56,000 products Reliance Timeout will offer customer an extensive range of merchandise in books, music, stationery, toys and gifts. It is to a format based on the ideology4 ACHARYA INSTITUTE OF MANAGEMENT AND SCIENCES
to provide a place where a consumer can unwind and relax, browse and buy a book, sample some music, choose a gift, and buy a toy or some exclusive stationery for themselves. Reliance Timeout will offer a comprehensive range of products in these categories along with an attempt to create a fascinating customer experience with a warm, lively ambience.
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1.2 Industry ProfileMeaning of Retail The word RETAIL is derived from the French word RETAILLIER, meaning to cut piece off or to break bulk. Retailing in India is as old as India itself. Definition: Retail is the sale of goods to end user, not do resale, but for use and consumption by the purchaser. The retail transaction is at the end of supply chain manufacturer sell large quantities of products to retailers, and retailers sell small quantities of those products to consumers. Example: A person who wants to obtain a product for their own personal use will usually purchase it at retail store or from some other retail marketing channel.
According to David Gilbert: Any business that directs its marketing efforts towards satisfying the final consumers based upon the organization of selling goods and services as a means of distribution.
Philip Kotler defines retailing as: All activities involved in selling goods or services to the final customer for personal use in todays scenario our retailer does not exist in the brick and mortar from alone. She/he can do it by using the telephone, by direct mails, by using the Internet or absolute impersonally by using vending machines.
Evolution of the Indian Retail Sector6 ACHARYA INSTITUTE OF MANAGEMENT AND SCIENCES
Traditionally retailing in India can be traced to
The emergence of the neighbourhood Kirana stores catering to the convenience of the consumers. Era of Government support for rural retailing: Indigenous franchise model of store chains run by Khadi & Village Industries Commision. 1980s experienced slow change as India began to open up economy. Textiles sector with companies like Bombay Dyeing, Raymonds, S Kumars and Grasim first saw the emergence of retail chain. Later Titan successfully created an organized retailing concept and established a series of showrooms for its premium watches. Post 1995 onward saw an emergence of shopping center. Mainly in urbran areas, with facilities like car parking. Emergence of hyper and super markets trying to provide customers with 3 Vs- Value, Variety, Volume.
The Future The retail industry in India is currently growing at a greate pace and is expected to go upto US$ 833 billion by the year 2013. It is further expected to reach US$ 1.3 trillion by the year growth rates, the consumer spending has also gone up and is also expected to grow further in the future. In last four year, the consumer spending in India climbed up to 75%. As a result, the Indian industry is expected to grow further in the future days. By the year 2013, the organized sector is also expected to grow at a CAGR of 40%.
Big Players plan investment in India Future Groups central malls to be extended.7 ACHARYA INSTITUTE OF MANAGEMENT AND SCIENCES
Reliance Retails dairy business stratergy might not be easy. Pantaloons to invest $1 billion to compete with Reliance, and Reliance is investing 5.5 Billion. Birlas retail division on a hiring spree, The Aditya Birla Group will be investing Rs. 90 billion to open 3,000 supermarkets and 200 Hypermarket in 100 cities over the next 7 years. Major Players in Indian Retail Industry: Shoppers Stop Westside Pantaloons Lifestyle Crossword Wills Lifestyle RPG Retail (Spencers, Music world) Globus Ebony Retail Holdings ltd.
International retailers: There has been greater influence of brands like Wal-Mart, Tommy Hilfiger, Carrefour, Marks & Spencers, Nike, etc in the big cities of India for long. Wal-Mart is coming to India The US giant will be entering the Indian market with a joint venture agreement with Bharti Enterprises, operating franchised stores of Wal-Mart. The store in India will be offering a low price to shoppers as the US stores do.
1.3 Company ProfileCompany Subsidiary Company : Reliance Retail : Reliance Trends8 ACHARYA INSTITUTE OF MANAGEMENT AND SCIENCES
Founded Headquarters Chairman and Managing Director Stores at Bangalore city
: 2007 : Bangalore : Shri Mukesh Ambani : Reliance Trends at Mantri mall, Richmond Road and Jayanagar
The Apparel, Luggage and Accessories division of reliance retail has announced the launch of their first Apparel speciality store Reliance Trends. All the 3 Reliance Trends stores located at different places across Bangalore offer some of the best Indian and International brands with each stores area of more than 15,000sq.ft. of shopping area, and has been designed and furnished by the best of the international design agencies to offer a high style and lavish experience to the Indian consumer. The store layout compliments the evolving tastes and preference of fashion savvy consumers, giving them an opportunity to view/shop with ease, along with an army of well trained customer service associates to compliment the entire shopping process. Riding on the tremendous success of Reliance Mart at various locations across India, the apparel division of Reliance Retail is well on track to democratise fashion and make it attainable to the masses. This is being possible by the extraordinary design pool of Indian and International designers, integrating the international design trends and preferences of the Indian consumers. The company is offering solutions to common maintenance problems through its state of the art innovative products like Ever White Shirts, Anti Stain Trousers, Wrinkle free range of garments, aromatic clothes for infants and quick-dry sports wear that ensures optimum moisture management. Product quality has been ingrained into the DNA of Reliance Trends and is integral to the mission of Grahak Devo Bhava. The quality system are designed, implemented and monitored as per international standards by a highly competent team of professionals. To deliver the customer the best value for their money, only those products that demonstrate an exemplary safety and quality meeting both implicit and explicit needs of the consumer are approved for purchase. Some of the quality standards that are being followed are American Association of textiles, chemists and colourists. American Standard, ISO and BIS methods.
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For the first time in organised retail, Reliance Trends is introducing Made to Measure tailoring service offering customised fits to all the customers buying fabric from the store at prices compatible to neighbourhood tailors. Reliance Trends is offering a homogenous mix of private label of brands across mens, womens and childrens category to fulfil every customers requirements. The Network range of garments comprises of formal office wear and collection for men and women, while the Netplay range, showcases a smart casual collection for the evolving workplace. The DNMX range has been developed with a clear focus on the youth of India, offering them exclusively crafted fashion garments like Denims, T-shirts etc. Sparsh range of Indian wear for women, offers the finest collection of salwar kurtas, churidars and a fast evolving Mix and Match range of garments. An exclusive label Panda has been developed for infants and toddlers, while the FRENDZ range of garments would compliment the wardrobes of the growing generation of boys and girls. Apart from these private labels, the store is also offering some of the most renowned brands in the country like Levis Strauss Signature, Peter England, Indigo Nation, American Tourister, John Players etc. Some designer labels either directly or through their sub brands most of these exclusively for Reliance Trends. Continuing the tradition of reaching out to the middle class of the country, the current offering from Reliance Trends is easily affordable to the Indian consumer. The specific private label called First Class, is designed to cater to the range of garments cutting across mens, womens and childrens wear to deliver extreme value to the Indian consumers. Taking forward the voice of Shri Mukesh Ambani, Chairman & Managing Director, Reliance Industries Ltd, Reliance Trends delivers unmatched affordability, quality and chain of products and services to the consumer. Reliance Retail continues to fine tune its offering and listening to its customers and learning from them. This as the Chairman envisions, will be the beginning of transformation of Indian Retail with benefits for the consumer.
Stock : Listing and Performance over timeAs Reliance Retail Limited is a subsidiary of Reliance Industries Limited it is not listed separately on any stock exchange, it can only impact the prices of Reliance Industries Limited.
According to RILs annual report for 2009-10Turnover : Rs. 200,400 crore ($ 44,632 million)10 ACHARYA INSTITUTE OF MANAGEMENT AND SCIENCES
PBDIT Cash Profit Net Profit Net Profit 10 years CAGR Total Assets
: Rs.33,041 crore ($ 7,359 million) : Rs. 27,933 crore ($ 6,221 million) : Rs.16,236 crore ($ 3,616 million) : 21% : Rs. 251,006 crore ($ 55,903 million)
1.4 Product Profile1)Womens Wear Indian wear Semi Formal wear Dress material 2)Mens wear Formal wear Semi Formal wear11 ACHARYA INSTITUTE OF MANAGEMENT AND SCIENCES
Formal wear Casual wear Lingerie
Casual wear Mens wear fabric 3) Kids wear Infants Girls 2-8 years Boys 2-8 years 4) Accessories Handbags Handkerchiefs
Sports wear Under garments
Toddlers Girls 8-14 years Boys 8-14 years
Socks Sports Goods
Private labels by Reliance Trends
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External Brand in Reliance Trends
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1.5 VisionTo make RIL one of the most innovative companies in the world and to achieve breakthrough growth in revenues and profits by creating and implementing sustainable solutions.
1.6 MissionTo be the most admired and successful organised retail company in India that materially enhances the quality of life of every Indian.
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1.7 Business quality objectives Greater market share Higher growth rate Higher earnings Premium price Loyal customers Highly motivated employees Higher or better product quality can also be used as product differentiation strategy in market place The best way to reduce loss is to avoid it by losing it with bad quality
Spirit of Reliance Growth has no limit at Reliance, only when you dream it you can do it. Meeting deadlines is not enough but beating deadlines is the expection. We bet on people.
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1. ORGANISATIONAL STRUCTURE
Corporate StructureReliance Retail Limited is the vision of Mukesh Dhirubhai Ambani who is also the Chairman & Managing Director of RIL. The Executive Directors are Nikhil R. Meswani, Hital R. Meswani, Hardev Singh Kohli, PMS Prasad and R. Ravimohan. Ramniklal H. Ambani is the non-executive and nonindependent director. Key Executives for RRL are: Raghu Pillai Director, Chief Executive and President of Retail Operations & Strategy Ajay Baijal President of Corporate Planning Manu Kapoor Senior Vice-President of Corporate Affairs Division Bijay Sahoo Head of Human Resources
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3. FUNCTIONING OF DEPARTMENTS3.1 Human Resource DepartmentFor any business to run one needs four Ms namely Man, Money, Machine and Material. Managing other three resources other than men, are easy to handle. Men are very difficult to handle because no two human beings are similar in all way. Human beings can think, feel and give response. Handling humans is more important for any business because human being have crucial potential that may be very profitable for the business, and these potential can be developed to an unlimited extent if they are provided with proper environment. So the function of managing men is as important as finance or marketing function in any business. HRM refers to practices and policies framed for the management of human resources in an organization, including Recruiting, screening, rewarding and appraising. Human resources have at least two meanings depending on context. The original usage derives from political economy and economics, where it was traditionally called labour, one of three factors of production. The more common usage within corporations and businesses refers to the individuals within the firm, and to the portion of the firm's organization that deals with hiring, firing, training, and other personnel issues. This article addresses both definitions. The objective of Human Resources is to maximize the return on investment from the organization's human capital. THE SCOPE OF HRM is indeed very vast. All major activities in the working life of a worker-from the time of his or her entry into the organization until he or she leaves- come under the purview of HRM. Specifically, the activities include are HR Planning Job analysis and design Recruitment and selection Orientation and placement Training and development Performance Appraisal and Job evaluation Employee and executive remuneration Employee Motivation
Employee Welfare It is the responsibility of human resource managers to conduct these activities in an effective, legal, fair, and consistent manner.19 ACHARYA INSTITUTE OF MANAGEMENT AND SCIENCES
"Human resource management aims to improve the productive contribution of individuals while simultaneously attempting to attain other societal and individual employee objectives." Schwind, Das & Wagar (2005). CORPORATE HR Activities taken up by Corporate HR are Policy making Implementing suggestions Strategic planning
ENTITY HR Activities taken up by Entity HR are Execution of policies and practices Targets for recruitment of Circle HR CIRCLE HR Activities taken up by Circle HR are Recruitment Appointment Training Payroll Employees issues Exit full & final
HR FUNCTIONS TALENT ACQUASITION Sourcing activity20 ACHARYA INSTITUTE OF MANAGEMENT AND SCIENCES
TALENT DEVELOPMENT Performance management system Training Carrier planning Suggestion planning TALENT MANAGEMENT Operation HR
STEP 1 MANPOWER PLANNING AOP (Annual Operating Plan), this process is taken up every year. It is taken up at Personal Level and Entity Level. Several points like Revenue generation, Acquisition number, etc. STEP 2 SOURCING ACTIVITY There are three types of sourcing done at Reliance. After the resumes of candidates are chosen then the same is sent to the department head where the vacancy arises. The department head will then shortlist the same and they ask the HR department to fix an interview with the selected candidates .There are two type of interview which is taken up at Reliance, firstly the Functional interview and then the Functional Head and HR Head takes the interview.
INTERNAL SOURCING Employee Reference Re-employment of former employee EXTERNAL SOURCING Placement Consultant Ruchika, the Age, the Avenue. Job Portals - Monster, NAUKRI. Campus Recruitment
APPROVAL The HR executives will Negotiate the CTC with the candidate.
The approval is sent to the CRC (Corporate Recruitment Cell).21
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Then after it is sent to ECRC. Then the same is sent to CRL
The same is then sent to Management for SAP Applicant Code The applicant code is given to HR CIRCLE. OFFER is made to the candidate, which leads to the Joining Procedure AVERAGE TIME PERIOD: The process of recruitment takes about 10 15 days ELIGIILITY CRITERIA: Education Qualification MBA with any specialization Not frequent job changes Tenure of last job should at least be 1.5 2 yrs
OTHER REQUIREMENTS: Reference check is usually done for High level job
The recruitment may differ with the current position of the business The same is then sent to Management for SAP Applicant Code. The applicant code is given to HR CIRCLE. OFFER is made to the candidate, which leads to the Joining Procedure.
INTERNAL SOURCING In the event of an open position in Reliance Trends, suitable candidates are first searched internally within the organization. This is based upon in-house talent which could be redeployed.
Advertisement for internal vacant position is done by following two ways: Through sending mail to all Reliance employees across all locations including DAKC (Dhirubhai Ambani Knowledge City) Through DAKC Circular
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Employees of Reliance Trends who have completed more than 12 months of continuous service only those employees can apply for position placed on Intranet. Internal candidates are considered in accordance with their abilities and potential. The process is coordinated by CRC (Central Recruitment Cell) at Corporate Office. EMPLOYEE REFERENCE In Reliance Trends, Employees can refer a candidate with whom he/ she have worked in his/ her previous employment. Employees can check available vacancies on Intranet and can submit the resumes of prospective candidates who fit the Job profile. RE-EMPLOYMENT OF FORMER EMPLOYEE Re Hiring of an employee done in Reliance Trends with a view to take trained manpower back in the company. Re Hiring is done as per the policy issued by Central Recruitment Cell at Corporate Office EXTERNAL SOURCING PLACEMENT CONSULTANCY The placement agencies call for resumes of prospective candidates, which act as a good source of recruitment for the companies. Consultants interview candidates and shortlist those according to the criteria laid down by the companies. This helps the employer to interview a limited number of potential candidates, the minimizing the time taken in receiving and sorting applications, etc. Reliance Trends chooses Consultants having national presence. This sourcing option is only considered by the company when there is scarcity for candidates with requisite experience and skills
JOB PORTAL The spread of Internet has enabled employers to search for candidates globally and has made recruitment easier. If vacancy arises, Reliance Trends browses the profile of candidates from the Job portal like naukri.com, monsterindia.com and then candidates are accessed through email or telephone. CAMPUS RECRUITMENT23 ACHARYA INSTITUTE OF MANAGEMENT AND SCIENCES
Reliance Trends goes for Campus recruitment every year for technical department. For management level recruitment, it goes for campus recruitment as per requirement. For filling up position for MT (Management Trainee), following procedure is followed by Reliance Trends:
HR representative of Reliance Trends gives description about Job to all candidates Written Test i.e. (MAT) Mental Ability Test is taken for those Candidates who have aggregate 60% in all semesters. GD (Group Discussion) is conducted for those candidates who had successfully pass MAT. At last PI (Personal Interview) is conducted for those candidates who had passed out GD and Personal Interview is taken by respective head of department and HR Head. Reliance
For filling up the positions for all the posts, following procedure is followed by Trends:
HR representative of Reliance Trends gives Description about Job to all candidates Written Test i.e. (MAT) Mental Ability Test is taken for those candidates who has got aggregate 60% in all semesters. At last PI (Personal Interview) is conducted and Personal Interview is taken by respective head of department and HR Head.
MT position includes candidates having Educational qualification in MBA, A degree in Fashion Design, Commerce Graduates. MT is placed in either of the following departments: Sowing Business category HR24 ACHARYA INSTITUTE OF MANAGEMENT AND SCIENCES
Finance Marketing Strategy Operations Customer Care Visual Merchandise Communication Media
Interview is the oral assessment of the candidates for employment. This is the most essential step in the selection process. In this step the interviewer matches the information obtained about the candidate through various means to the job requirements and to the information obtained through his own observation during the interview. Interview gives the recruiter an opportunity: To size up the candidate personally To ask questions that are not covered in tests To make judgments on candidates enthusiasm and intelligence. To assess subjective aspects of the candidate facial expressions, appearance, nervousness and so forth
To give facts to the candidate regarding the company, the policies, programs , etc. and promote goodwill towards the company. MODE OF INTERVIEW PERSONAL INTERVIEW Personal Interview is a formal in-depth conversation conducted to evaluate the applicants acceptability. In a personal interview, candidates are accessed on behavioral and personality characteristics, functional and managerial competencies and other factors like education, experience etc. Based on the candidates performance in the interview, the interview panel rates the candidate and takes the selection decision.25 ACHARYA INSTITUTE OF MANAGEMENT AND SCIENCES
VIDEO CONFERENCE At Reliance Trends, usually face to face interviews are conducted but for those candidates who are located at other state for them video conference interviews are conducted. The use of video conferencing can add value to the process by allowing real time, faceto-face interactions without the costs associated with physically transporting candidates to the campus. Reliance Trends uses Video conference for following reasons: Time savings Faster Decision making Cost savings in candidate travel, lodging, etc An opportunity to meet the candidates before narrowing the list
An opportunity to see and converse with candidates, evaluate their responses to questions and gauge their interest in the position.
TELEPHONIC INTERVIEW There are various reasons to take a telephonic interview. For example, in certain location Reliance Communications does not have its Web world, so in that case the interview of that candidate will be taken over telephone. Even if the interview of a candidate cannot happen through video conference because of unavailability of any Web world timings, then telephonic interview is taken.
CAMPUS RECRUITMENT Interview is taken for MBA graduates by respective functional head and HR head and for MT Interviews taken by 2-3 functional heads, HR head and final interview is taken by Circle CEO.26 ACHARYA INSTITUTE OF MANAGEMENT AND SCIENCES
LEVELS OF DESIGNATION & EXPERIANCE
L1: VICE PRESIDENT, Sr. VICE PRESIDENT,
PRESIDENT.(LEADERSHIP POSITIONS) EXPERIENCE: 17 20 + years
L2: DEPUTY GENERAL MANAGER, GENERAL
MANAGER.(MAGERIAL POSITIONS) EXPERIENCE: 11 15 + years
L3: ASSISTANT MANAGER, MANAGER, Sr.
MANAGER.(EXECUTIVE POSITIONS) EXPERIENCE: 5 11 + years L4: EXECUTIVE, Sr. EXECUTIVE.(SUPPORT POSITONS EXPERIENCE: 2 4 + years MET, D E T: Trainees EXPERIENCE: Fresher REFERENCE CHECK Once the hiring decision is taken, the candidate is contacted and informed about the decision to conduct a reference check with the referees whose names have been provided in the personal history form. Many employers request names, addresses and telephone numbers of references for the purpose of verifying information and perhaps gaining additional background information on an applicant. References are checked for following reasons: To check whether or not the applicant was truthful about his or her employment history. To know weaknesses, strengths of the applicant.
SELECTION DECISION After obtaining information through the preceding steps, selection decision is to be made. The other stages of selection process have been used to narrow the number of candidates. The final decision is to be made from the pool of individuals who pass the tests and interviews.27 ACHARYA INSTITUTE OF MANAGEMENT AND SCIENCES
MEDICAL CHECK-UP All selected candidates are required to undergo a pre-employment medical check-up as a part of selection process. After the selection decision and before the job offer is made, the candidate is required to undergo a Medical check-up. A job offer is contingent upon the candidate being declared fit after the Medical test. EMPLOYEE REMUNERATION Remuneration is the compensation receives in return for his/ her contribution to the organization. Reliance Trends follows the cost to company (CTC) structure that reflects the total cost of an employee to an organization. It is designed to provide flexibility to an employee to structure their benefit package.
PHILOSOPHY OF CTC As per the Indian Income Tax Rules the total Basic Salary paid to the employee is taxable. So Choice Pay can make your 60% salary non taxable. PLI (PERFORMANCE LINKED INCENTIVE) 15% on Fixed CTC would be would the base figure for PLI. Normally PLI is paid once in a year depending on his performance during the assessment period. BASE PAY This constitutes up to 40% o the total annual compensation and it includes: Basic Salary Employers contribution to the PF @ 12% of basic salary Employers contribution to the companys gratuity fund @ 4.81% of basic salary
BASIC SALARY Basic Pay = Base pay/pf + gratuity28 ACHARYA INSTITUTE OF MANAGEMENT AND SCIENCES
Base Pay = 100 Basic Pay = 100/1.1681
PROVIDENT FUND Provident fund is to provide Social Security Benefit to the employee after retirement. PF is deducted from the first day of employment .The Company deducts 12% of the employees basic salary and makes an equal contribution. The employee can take loans for specific purposes against his/her provident fund accumulation. The employee is also covered under an Insurance Scheme, which provides for a payment of ` 37,000 in case of his /her death. GRATUITY Under the scheme Company contributes 4.81% of Basic Salary of an employee to the Gratuity Fund. Last drawn basic salary/26 days*15 days*no. of completed years of service. Employees who have completed 5 years continuous service with the company are eligible to get gratuity on separation from the company. In case of death, the minimum service requirement of 5 years does not apply. For calculating Gratuity, periods of service greater than 6 months will be considered as equivalent to 1year and less then 6 months will not be counted.
As per Income Tax Rules, Gratuity is not taxable up to `3, 50,000 Any amount paid in addition to `3, 50,000 will attract tax. All employees who have completed 1 year continuous service29
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with the company are eligible to get gratuity on separation from the company. CHOICE PAY This constitutes up to 60% o the total annual compensation and it includes Company Leased Accommodation Company Owned Accommodation Office Wear Allowance Leave Travel Allowance Company Leased Car Children Education Allowance Gift Coupons Conveyance Allowance Food Coupons Medical Expense House Rent Allowance Superannuation Special Personnel Allowance
COMPANY LEASED HOUSE Company will arrange the house through an authorized real estate agent as per the choice of the employee. Security deposit by company. 12% percent Interest will be charged on deposit amount. The same will be debited in CTC. Rent would be exempted from income tax.
CAR Company will arrange a car through a car lease agency. Employee can choose any make/model.
The EMI that will be charged would be `2095 per Lac per month. The EMI amount per Annum would be exempted from Income30
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Tax. MAINTENANCE & RUNNING COST Maintenance and Fuel Cost will be exempted as follows. Maintenance cant exceed `25, 000 per annum. If CC of the car is less than `1000 `1, 11,000 per annum. If CC of the car is more than `1000 `1, 50,000 per annum. The perquisite Tax charged would be `1200 irrespective of the cc of the car The above exemption would be provided on submission of original bills. There would be no tax exemption against if the employee has his own car. The FBT Tax (Fringe Benefit Tax) for fuel and maintenance is 6.73% on how much you have opted for. At the time of leaving CO. before 48 months then the employee has to pay FCV (For Closer Value) to the company from whom the loan is taken. If the employee is still stays after 48 months then employee will be charged 20% on the value of the car at that time for changing the name i.e. ownership.
CHILDREN EDUCATION ALLOWANCE o Employee can claim exemption `2400 per year. o This exemption is restricted up to two children o To pass the claim Employee has to submit the original bills. o To get this benefit child age should be greater then 3.5 years. GIFT COUPONS
A sum of `5000 would be exempted against the Gift Coupons. The company would provide coupons worth `5000 during the months of October & November. Validity of this coupons is one year This coupon is accepted at major outlets in city. FBT Tax 16.67% is charged.
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CONVEYANCE ALLOWANCE If the employee is not using companys car then and only then he can claim this option. To getting the exemption bills are not required.
Conveyance allowance is up to `800 per month.
FOOD COUPONS The Company gives SODEXHO passes in term of Food Coupons.
Food coupons are provided on monthly basis of `1300. A sum of `15600 per annum will be exempted from the income tax.
The employee gets an exemption of `15000 p.a. But to get exemption the employee must submit original bills.
HOUSE RENT ALLOWANCE The employee gets an allowance for the house rent depending upon his/her designation.
PAID LEAVE There are 30 days PL available with the employee after the conformation. The PL is available after 180 days from the date of joining. The employee can take only 3-5 PL at a single time CASUAL LEAVE There are 5 days CL available to an employee from the date of joining. The employee can take 1-3 days CL at a time. SICK LEAVE There are 10 days SL available to an employee from the date of joining. The employee has to submit doctors certificate if the leave extends to 2 days. OPTIONAL LEAVE There are 3 days OL available to an employee from the date of Conformation
3.2 Finance Department32 ACHARYA INSTITUTE OF MANAGEMENT AND SCIENCES
If a company is an artificial person then finance is the blood of it. It is very important to have adequate finance to run successfully and grow. Finance department is responsible for the financial administration and management of the company along with financial rules and financial guidelines acting in the company. Finance department concerns with securing the financial health of the company. Objectives Functions Estimating the financial requirements of the firm. Analyzing risk and returns associated with the projects and endeavors taken by the company. Determine the need of working capital in the organization. Determining the pay scales of the employees. Profit maximization and wealth maximization of the company and its partners. Receipt of money from customers and accounting the same. Payments to suppliers and payment of all office expenses. To take care financial flows for smooth running of business To optimize the financial resources of the company. To meet financial expenses of the company in a systematic way
The major sources of revenue33 ACHARYA INSTITUTE OF MANAGEMENT AND SCIENCES
By sale of: Apparels Textiles Cosmetics Accessories
The major expenses include Salary of the employees. Rent for office building. Marketing. Software. Stationeries. Telephone. Electricity. Other miscellaneous expenses.
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3.3 MarketingThe process by which companies create customer interest in products or services is called Marketing. It generates the strategy that underlies sales techniques, business communication, and business development. It is an integrated process through which companies build strong customer relationships and create value for their customers and for themselves. Marketing is used to identify the customer, to keep the customer, and to satisfy the customer. With the customer as the focus of its activities, it can be concluded that marketing management is one of the major components of business management. Marketing evolved to meet the stasis in developing new markets caused by mature markets and overcapacities in the last 2-3 centuries. The adoption of marketing strategies requires businesses to shift their focus from production to the perceived needs and wants of their customers as the means of staying profitable. The term marketing concept holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions. It proposes that in order to satisfy its organizational objectives, an organization should anticipate the needs and wants of consumers and satisfy these more effectively than competitors.
Marketing DepartmentThe aggressive and dynamic marketing team of Reliance Trends is headed by Mr.Kamal. Media and trade promotions The team uses channels of media like Print media Majorly uses newspaper, pamphlets for promotions. Radio Outdoor Hire celebrities to promote their product at public places BTL activities Give seasonal slabs for discounts ex On 15th August an offer stated that buy worth `1947 and get free worth `1947.
Communication35 ACHARYA INSTITUTE OF MANAGEMENT AND SCIENCES
Reliance Trends organises various events like photo shoots to promote themselves. Outsources its advertisements to ad agencies. Advertisement is done through print media, radio, hoardings, newspapers, magazines, car-cards etc. Public relations are maintained by a PRO, even the sales force are trained to maintain PR.
Research Strategy Any kind of research is done by this team. The research is done regarding any type of problems faced. Research is done on category where there is a problem. Consumer behaviour is studied. Strategic initiatives are undertaken by the research team based on the survey done by research agencies.
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3.4 Visual MerchandisingVisual merchandising is an important support for fashion retail operations. It gives the business an edge over competition. Strategically used, visual merchandising can even create a brand identity. It establishes a connection between merchandise and fashion. The right kind of visual merchandising boosts the sales graph rise upwards. This is achieved by creating an environment not only to attract a customer but also to retain his/her interest and finally augment the selling process.
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2. SWOT ANALYSISStrengths Relaince Retail is financially sound. Primary location of the stores ensures good footfall. Low prices of the merchandise attract customers. Customers visiting the stores are between the age 18-25 years of age and constitute a very good potential market. Majority of the customers are highly satisfied with the store and would like to revisit the store. The concept of selling the merchandise in coordination is the unique selling proposition of the brand and adds to the convenience of the customers.
Weakness Opportunities Threats More stores of Reliance Trends have to be opened across various places in Bangalore. Negligible awareness about the presence of store in other areas. Expansion strategy other VFM formats. There is a cut throat competition from stores like lifestyle, Pantaloons, Showoff and Shoppers Stop respectively. RTL have an advantage because its concept redefines value retailing. Value retail is associated with RT offers, fresh stock at such low price and thus stands apart. The store offers in-house labels and thus has freshness associated with it. Brand name of reliance has a lot of prestige attached with it. Acute lack of awareness about the store. Most customers visit the store only when passing by. Visual merchandising of the has to be improved. Display needs to be changed. Lack of external brands is also a major constraint in the store.
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3. Ethical Practices, Safety, Occupational, Health and Environment PolicyEthical practices Customers are not cheated in the name of discount. All the religions are respected. An opportunity is given to the physically handicapped people o work in the company with a suitable job. If something, may be product or service is claimed to be 100% then it is ensured that it is 100%. 100% is defined in pre set terms and showed it in comparison. Good quality clothing at lesser price.
Safety All the employees are trained once in two months how to act in case of some fire or any other emergency. Also the customer service associates(CSA) are trained once in two months how to act in case of some fire or any other emergency and take customers out to safety.
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6. SPECIAL TASK6.1 Statement of the problemDropping in footfalls at Reliance trends store.
6.2 Objectives of StudyThe main objective of the study is to find out reason for drop in footfalls, To know awareness level of consumers.
6.3 Research MethodologyType of Study The type of research followed is descriptive in nature as it is determining the consumer awareness and perception about Reliance Trends Store. Source of data The primary data has been collected from customers of Bangalore. The secondary data has been collected through internet. Tools of data collection The data has been collected through a well-structured questionnaire containing relevant questions pertaining to the study. Sampling In the following study, sample is collected from customers of Reliance Trends store at Mantri mall,Bangalore city. The stores from which the data has been collected are: Reliance Trends, Mantri Mall Reliance Trends stores across
Sample size The size of sample collected is For awareness about store 120 respondents at Reliance Trends at Mantri mall.40 ACHARYA INSTITUTE OF MANAGEMENT AND SCIENCES
Methods of sampling The method of sampling is convenience sampling. In this type of sampling respondents are picked on the basis of convenience of the researcher i.e. taking samples from people whom a researcher meets or are available. Convenience sampling is simple, low budget, and do not require a list of population. Also no statistical expertise is required for sampling. Analysis of data Data collected is analysed using Excel sheet by using tools like pie chart, histogram and percentage method.
6.4 Limitations of Study The study is limited to Reliance Trends stores at Mantri mall, Bangalore city only. Sample size was small due to time constraint. Accuracy of the data depends on the respondents and the source used respectively.
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Analysis and interpretation of dataTable 1 showing the number of Respondents Particulars Men Women Total Fig 1 No of Respondents 60 60 120
Q1: Please tell me how many times have you visited our store ever since it was opened?42 ACHARYA INSTITUTE OF MANAGEMENT AND SCIENCES
Table 2 showing the number visits people made to Mantri mall. Particulars First Visit Once Before Twice Before Thrice Before Four times Before Five or more times Before Total Number of people 34 28 18 16 09 15 120
Interpretation: Most of the respondents visited for first time.
Q2. Would you please tell me when we talk about various stores at mantri mall, which is the one which comes to your mind? Table 3 shows the first store which comes to mind in Mantri mall.43 ACHARYA INSTITUTE OF MANAGEMENT AND SCIENCES
Partiiculars Pantaloons Lifestyle Shoppers Stop Reliance Trends Max Spar Marks & Spencer Apple Food court Health & Glow Inox Kfc Madhuloka Nike Play saloon Prester Reebok Reliance Living Show off Tissot Total
No of People Respondents 14 12 5 6 17 23 8 1 14 1 9 2 1 1 1 1 1 1 1 1 120
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Interpretation: Most of the named Spar, and Max when asked what comes to thier mind when we speak about Mantri mall. Reliance trends had less responses, as numbers indicate.
Q3. Would you please tell me which of the store stores you are aware of at Mantri mall? Table 4 shows number of people aware of each store.45 ACHARYA INSTITUTE OF MANAGEMENT AND SCIENCES
Store name Pantaloons Lifestyle Shoppers Stop Reliance Trends Max Spar Marks & Spencer Fig 4
Number of people (Sample size 120 for each Store name) aware of each store 53 67 67 59 34 68 24
Interpretation: Lifestyle, Shoppers stop and Spar had high awareness among consumers with 67 respondents aware out of 120. Reliance trends also enjoys good awareness with 59 responses. Q4. Would you please tell me which of the stores you visited at Mantri mall? (Ask only those who answered in Q3). Table 5 shows the number of people visited each store.
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Store Name Pantaloons Lifestyle Shoppers Stop Reliance Trends Max Spar Marks & Spencer
No of People visited stores 37 46 50 44 17 55 08
Q5. Would you please tell me which of the stores you Shopped at Mantri mall?(Ask only those options which they said, they have visited of in Q4) Table 6 shows the number of people shopped at each store.No of People Shopped at each stores 47 ACHARYA INSTITUTE OF MANAGEMENT AND SCIENCES
Pantaloons Lifestyle Shoppers Stop Reliance Trends Max Spar Marks & Spencer
30 32 45 20 10 43 05
Q6- Please tell me the reasons for not purchasing at Reliance Trends even after visiting the store ?(Ask only those who said, they have visited of in Q4 but not purchased in Q5) Table 7 shows reason for not purchasing at Reliance trends even after visiting store.Reasons for not purchasing Too expensive Less variety Didnt get my kind of clothes, no discount, No of responde nts 9 5 2 48 ACHARYA INSTITUTE OF MANAGEMENT AND SCIENCES
no brands Did not like clothes for baby, over pricing No stylish dresses available Sub standard quality This is my first visit, I will check out Reliance trends Total
1 2 3 2 44
Q7- Please tell me what are the reasons for not visiting Reliance Trends, despite being aware of the store(Ask only those who said, they are aware of Reliance trends in Q3 but not Visited in Q4) Table 8 shows reason for not visiting store even after being aware of Reliance trends store.Reason for not visiting store Too expensive Less variety No of respondents 9 4 49 ACHARYA INSTITUTE OF MANAGEMENT AND SCIENCES
Did not like clothes for baby, over pricing No stylish dresses available Sub standard quality No I never thought of visiting Total
1 2 3 19
Q8. What is the reason for visiting mantra mall today? Table 9: shows reason for visiting Mantri mall. Reason for visiting mallLunch, To meet friends Meeting friends, movie Shopping To eat out to meet friends No of respondents 14 21 29 21 33 50 ACHARYA INSTITUTE OF MANAGEMENT AND SCIENCES
6.6 InterpretationTable:10 Showing awareness, no of times visits and shopped data of respondents.Store Name Pantaloons Lifestyle Shoppers Stop Reliance Trends Max Spar Marks & Spencer Total responde nts 120 120 120 120 120 120 120 Aware 53 67 67 59 34 68 24 Visited 37 46 50 44 17 55 8 Shopped 30 32 45 20 10 53 5
ACHARYA INSTITUTE OF MANAGEMENT AND SCIENCES
Table:11 Showing awareness, no of visits and shopped data in percentage.Percentage of respondent s Visited 70% 69% 75% 75% 50% 81% 33% Percenteg e of responden ts shopped 81% 70% 90% 45% 59% 96% 63%
Percentage of respondents aware Pantaloons 44% Lifestyle 56% Shoppers stop 56% Reliance trends 49% Max 28% Spar 57% Marks & Spencer 20%
Out of 120 respondents 59 i.e., nearly 49% are aware of Reliance trends.
Out of 59 respondents 44 visited store i.e., 75%. Out of 44 respondents 20 shopped at reliance trends i.e., 45%.
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7. FINDINGS, SUGGESTIONS7.1 FindingsThe study was done in order to know the reason for drop in footfalls in Reliance Trends store at Mantri mall. Out of 120 respondents 59 i.e., nearly 49% are aware of Reliance trends Out of 59 respondents 44 visited store i.e., 75%. Out of 44 respondents 20 shopped at reliance trends i.e., 45%. 61 respondents out of 120 were not aware of Reliance Trends store i.e., more than 50%. Among those who were aware many of them did not visit or shop at reliance trends store as there perception about store was not good. This was clear by knowing reason for not visiting store and not purchasing even after visiting. Some of the reasons given by them are listed below:
Too expensive Less variety Did not like clothes for baby, over pricing No stylish dresses available Sub-standard quality No I never thought of visiting
Moreover people are least interested in shopping when they visit mall. Many of them gave different reasons for visiting mall, some of them are: Lunch, To meet friends Meeting friends, movie Shopping To eat out To meet friends
7.2 Suggestions53 ACHARYA INSTITUTE OF MANAGEMENT AND SCIENCES
Promotions More promotion needs to be done. Reliance Trends should establish itself as a brand which can be done only through heavy promotions because in todays scenario to make consumer aware about the store promotion plays an important role in it. Reliance Trends are new unit of reliance retail so in initial stage promotion is necessary to establish in market. Introduce wide range and variety Customers could be better satisfied with a wide range of apparels designs in clotting lines. Improve quality of clothing
Many customers do not get size they are looking for and are disappointed. There should be proper and timely stock replenishment done at the store level.
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7.3 ConclusionThe consumer is more interested in range and price of the products rather than the price. Bringing customer into store may be easy, but once they enter the store they should get what they want. Consumers have high expectations from Reliance Trends regarding pricing, they expect good collection of clothes at much cheaper price. A lot of awareness programs may help in getting better footfalls.
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MY LEARNINGS FROM STUDY LEARNING EXPERIENCE: The organizational study has given me good corporate exposure & a great learning experience. I was able to learn theoretical aspects which are applied in the day to day activities of the organization and those are as follows: Communications skills are very important to communicate with different types of existing products One mistake with a customer can result in loosing 100 customers. This is the strength of a customer which anyone has to always keep in mind while dealing with them. Product knowledge is very important to convince the customer. From above organizational study, I learned how organizations works with different organizational structure and its functions, how each and every member of company coordinating with each other , everything is well planned and they act according to plan From top level management to lower level of management there is proper communication channel between employee and manager .they follow a proper hierarchy,
8. BIBILOGRAPHYMagazines56 ACHARYA INSTITUTE OF MANAGEMENT AND SCIENCES
1. Business India
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Annexure Questionnaire STORE NAME: GENDER: PURCHASE: DAY: TIME: DATE:
Hello sir/madam. We are MBA students who are doing a research study for our college. It would be great if you could answer a few questions for us. Q1. Please tell me how many times have you visited our store ever since it was opened? This is my first visit Thrice before More than five times before Once before Four times before Twice before Five times before
Q2. Would you please tell me when we talk about various stores at mantri mall, which is the one which comes to your mind?
Pantaloons others Shoppers stop Max Reliance trends Spar
Marks & Spencer
Q3. Would you please tell me which of the store stores you are aware of at Mantri mall?58 ACHARYA INSTITUTE OF MANAGEMENT AND SCIENCES
Pantaloons others Shoppers stop Max Reliance trends Spar Train
Marks & Spencer
Q4. Would you please tell me which of the stores you visited at Mantri mall? (Ask only those options which they said, they are aware of in Q3)
Pantaloons others Shoppers stop Max Reliance trends Spar Train
Marks & Spencer
Q5. Would you please tell me which of the stores you Shopped at Mantri mall? (Ask only those options which they said, they have visited of in Q4) Pantaloons others Shoppers stop Max Reliance trends Spar Marks & Spencer Lifestyle
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Q6- Please tell me the reasons for not purchasing at Reliance Trends even after visiting the store ? (Ask only those who said, they have visited of in Q4 but not purchased in Q5)
Q7- Please tell me what are the reasons for not visiting Reliance Trends, despite being aware of the store (Ask only those who said, they are aware of Reliance trends in Q3 but not Visited in Q4)
Q8. What is the reason for visiting mantra mall today?
Lunch,To meet friends Meeting friends, movie Shopping
To eat out To meet friends
TO BE WRITTEN IN CAPITAL LETTERS ONLY: Name Email ID Mobile No : : :
Area of Residence :60 ACHARYA INSTITUTE OF MANAGEMENT AND SCIENCES