Final Project

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Transcript of Final Project

DISSERTATION REPORT ON PERFORMANCE APPRAISAL (AT PARLE INDUSTRIES LIMITED)

SUBMITTED TO KUMAON UNIVERSITY IN PARTIAL FULFILMENT OF BACHELOR OF BUSINESS ADMINISTRARION (THREE YEARS FULL TIME DEGREE PROGRAMME)

SUBMITTED BY DEEPANSHI JOSHI B.B.A (IV SEMESTER) (2008-2011)

JAI ARIHANT INSTITUTE

CERTIFICATEThis is to certify that ANJALI SHARMA has completed the project title PERFORMANCE APPRAISAL AT BIL. under my guidance and supervision. She is submitting the project in the partial fulfillment of the requirement for the award Masters of Business Administration, UTTRAKHAND TECHNICAL University, DehraDun. This work is original and has not been published or submitted elsewhere for any purpose what so ever. All sources of information have been mentioned and dully acknowledged.

SUBMITTED TO: MISS. RINKY RANA (FACULTY MBA.DPT.)

ACKNOWLEDGEMENT

I am very thankful to my Faculty Guide MISS.RINKY RANA without whose meticulous attention, invaluable suggestions, encouraging guidance and creative support; I would not have been able to complete my dissertation which is one of the important parts of the MBA program. She helped me in simplifying the problems involved in the work. I would also like to thank the overwhelming support of all the people who gave me an opportunity to learn and gain knowledge.

DEEPANSHI JOSHI(BBA.V SEM)

PREFACEAs a part of my BBA V Sem. program , I was asked to undergo 6 weeks of Summer Training in any organization, so as to give exposure to practical knowledge and to get familiar with the various activities taking place in organization. I got an opportunity to undergo Summer Training in the reputed organization PARLE AGRO LIMITED, RUDRAPUR, where I was assigned the project entitled PERFORMANCE APPRAISAL..

DECLARATION

I DEEPANSHI JOSHI student of BBA V sem. of JAI ARIHANT INSTITUTE, hereby declare that this Dissertation report PERFORMANCE APPRAISAL is written and submitted by me under the guidance of MISS. DEEPTI SARKI is my original work. The entire analysis and conclusion of this report are based on the information which is collected by me during the training period. The empirical finding in the report are based on the data collected myself while preparing this project. I have not copied any thing from any source or other project submitted for the similar purpose, if any.

DEEPANSHI JOSHI

CONTENTChapter-1: EXECUTIVE SUMMARY Chapter-2: OBJECTIVE OF THE STUDY Chapter-3: INTRODUCTION ABOUT PARLE Company overview Activities of the company SWOT Analysis Department of the company Chapter-4: PERFORMANCE APPRAISAL Definition of Performance Objectives,& Features of Performance Appraisal Process & Methods of Performance Appraisal Key elements of Performance Appraisal Problems of Performance Appraisal Process of Performance Appraisal Performance Appraisal at PARLE. Process of Appraisal in PARLE Agro Limited Chapter-5: LITERATURE REVIEW 5-22 1-2 3-4

23-44

45-50

Chapter-6: RESEARCH METHODOLOGY Sample Size Method of Sampling Area of work Method of Data collection

51-54

Scope of the study Sources of data collection Limitation of the study Chapter-7: ANALYSIS & FINDINGS Chapter-8: RECOMMENDATIONS Chapter-9: CONCLUSION Chapter-10: QUESTIONNAIER Chapter-11: BIBLIOGRAPHY 55-56 57-58 59-60 61-66 67-68

CHAPTER-I EXECUTIVE SUMMARY

EXECUTIVE SUMMARY FOR PERFORMANCE APPRAISAL

Performance appraisals can be a good way for organizations to boost employees' motivation and their competitive edge. But creating useful performance appraisals -- and making sure they are used effectively throughout an organization -- isn't easy. The 10 lessons here can help your company move closer to appraisals that help staff perform their best. "The irony is that our organization has been doing formal appraisals for at least 30 years and we still struggle to do them right. It takes a clear purpose, a good system, and effective managers all operating together to get the job done." -- Director of human resources, Fortune 500 manufacturing organization. It is common knowledge that most managers and employees find participating in formal performance appraisals as appealing as having a root canal. However, it is also true that -- for better or worse -- formal performance appraisals are an inescapable part of organizational life. There are two main reasons that formal performance appraisals are here to stay. First, formal appraisals are required to justify a wide range of human resource decisions such as pay raises, promotions, demotions, terminations, and selection validation. They also are key to evaluating recruitment results and determining training needs. Second, formal appraisals are required to maintain a competitive edge. In a recent study of high-performance organizations, the practice of employing a value-added performance appraisal process was cited as one of the top 10 vehicles for creating competitive advantage. The manufacturing organizations in this study clearly stated that an effective appraisal and review process created focus, a platform for measurement, a vehicle for employee improvement, and a means of linking key outcomes to performance. Our lessons for developing and sustaining a high-performance appraisal system are based upon two key tenets. The first tenet suggests that if appraisal processes operate as a system, a systems perspective must be applied to identify the critical appraisal system components and stages to make sure that organizational procedures and practices work in harmony. The second tenet is that individual managers play a pivotal role in achieving effective appraisals and that they need the right tools and support to be effective.

CHAPTER II OBJECTIVE OF THE STUDY

OBJECTIVE OF THE STUDY

The objective for my Dissertation Report, is to make my self capable for moving forward in corporate world, to gain knowledge & experience & know how to work in the organization environment. It will help me to gain more & more about corporate sector, which was very essential for me to do. Therefore I joined PARLE RUDRAPUR to improve my capabilities.

MAIN OBJECTIVE To Know about the existing system of Performance Appraisal in PARLE Agro Limited To study the awareness of the employees regarding the appraisal system. To evaluate the effectiveness of appraisal system. To know the satisfaction of the employees, with the appraisal system followed in PARLE.

SUB-OBJECTIVE Are the present performance appraisal is sufficient enough to analyze the ability of a company. To see the difference between the theoretical knowledge & practical knowledge.

CHAPTER-III INTRODUCTION ABOUT THE COMPANY

COMPANY OVERVIEW

In 1929 a small company by the name of Parle products emerged in British dominated India. The intent was to spread joy and cheer to children and adults alike, all over the country with its sweets and candies. The company knew that it wouldnt be an easy task, but they decided to take the brave step. A small factory was set up in the suburbs of Mumbai, to manufacture sweets and toffees. A decade later it was upgraded to manufacture biscuits as well. Since then, the Parle name has grown in all directions, won international fame and has been sweetening people's lives all over India and abroad. Apart from the factories in Mumbai and Bangalore Parle also has factories in Bahadurgarh in Haryana and Neemrana in Rajasthan, which are the largest biscuit and confectionery plants in the country. Additionally, Parle Products also has 7 manufacturing units and 51 manufacturing units on contract. Parle Products has been India's largest manufacturer of biscuits and confectionery, for almost 80 years. Makers of the world's largest selling biscuit, Parle-G, and a host of other very popular brands, the Parle name symbolizes quality, nutrition and great taste. With a reach spanning even the remotest villages of India , the company has definitely come a very long way since its inception. Many of the Parle products - biscuits or confectioneries, are market leaders in their category and have won acclaim at the Monde Selection, since 1971. With a 40% share of the total biscuit market and a 15% share of the total confectionary market in India , Parle has grown to become a multi-million dollar company. While to consumers it's a beacon of faith and trust, competitors look upon Parle as an example of marketing brilliance

INDUSTRY PROFILEThe word 'Biscuit' is derived from the Latin words 'Bis' (meaning 'twice') and 'Coctus' (meaning cooked or baked). The word 'Biscotti' is also the generic term for cookies in Italian. Back then, biscuits were unleavened, hard and thin wafers which, because of their low water content, were ideal food to store. As people started to explore the globe, biscuits became the ideal travelling food since they stayed fresh for long periods. The seafaring age, thus, witnessed the boom of biscuits when these were sealed in

airtight containers to last for months at a time. Hard track biscuits (earliest version of the biscotti and present-day crackers) were part of the staple diet of English and American sailors for many centuries. In fact, the countries which led this seafaring charge, such as those in Western Europe, are the ones where biscuits are most popular even today. Biscotti is said to have been a favourite of Christopher Columbus who discovered America! Making good biscuits is quite an art, and history bears testimony to that. During the 17th and 18th Centuries in Europe, baking was a carefully controlled profession, managed through a series of 'guilds' or professional associations. To become a baker, one had to complete years of apprenticeship - working through the ranks of apprentice, journeyman, and finally master baker. Not only this, the a