FINAL REPORT

ON

Unilever

SUBMITTED TO: Prof. Yaseen Jamal

SUBMITTED BY: ShehrozAyaz (05)

SyedFahad (20)

UmairEjaz (16)

PROGRAM: MBA (3rd Semester)

COURSE: Management

UNIVERSITY OF CENTRAL PUNJAB

1

Dedications

We dedicate this report to our parents and friends in recognition of their worth and to our teachers who are guiding force for us and it is their effort and hard work that showed us the path of success and prosperity which would be there for us for the rest of our life.

Our thanks to all those who have generously contributed their theoretical knowledge to this report including our teachers. Without their understanding and support, completion of this work would not have been possible.

ACKNOWLEDGEMENT

2

In the name of Allah the praiseworthy, the passionate whose blessings made it possible for us to complete this complex and painful task. It is a matter of great enthusiasm and pleasure for us to complete a report in its real sequence. It is all because of Almighty Allah’s great guidance that made us so able. We are cordially thankful to our respected Teacher Mr. Ghulam Mustafa who provided us an opportunity to prepare this Project report and whosebenevolent  guidance   in  d iscourse  and constant  encouragement  he lped  us   to complete this project.

3

CONTENTS

Topics Page1 Introduction &History of Faysal Bank 52 Vision, Mission, Values, Strength, Innovations,

Teamwork6

3 Integrity, Professionalism, Responsiveness, Products and Services

7

4 Products; Services 85 Faysal Financing Departments 96 Faysal Car Finance 11

7 House Finance 148 Faysal Finance 15

9 Faysal Bank Credit Card customers 1610 Car Leasing of Faysal Islamic Banking 1611 Faysal Bank Car Financing Procedure 1712 Eligible for Faysal Bank Car Financing 1813 Requirements for salaried person 1914 Conclusion 201516 Reference

History

4

Helping people get more out of life

In the 1890s, William Hesketh Lever, founder of Lever Bros, wrote down his ideas for Sunlight Soap – his revolutionary new product that helped popularise cleanliness and hygiene in Victorian England. It was 'to make cleanliness commonplace; to lessen work for women; to foster health and contribute to personal attractiveness, that life may be more enjoyable and rewarding for the people who use our products'. 

This was long before the phrase 'Corporate Mission' had been invented, but these ideas have stayed at the heart of our business. Even if their language - and the notion of only women doing housework – has become outdated. 

In a history that now crosses three centuries, Unilever's success has been influenced by the major events of the day – economic boom, depression, world wars, changing consumer lifestyles and advances in technology. And throughout we've created products that help people get more out of life – cutting the time spent on household chores, improving nutrition, enabling people to enjoy food and take care of their homes, their clothes and themselves.

Balancing profit with responsible corporate behaviour

In the late 19th century the businesses that would later become Unilever were among the most philanthropic of their time. They set up projects to improve the lot of their workers and created products with a positive social impact, making hygiene and personal care commonplace and improving nutrition through adding vitamins to foods that were already daily staples. 

Today, Unilever still believes that success means acting with 'the highest standards of corporate behaviour towards our employees, consumers and the societies and world in which we live'. Over the years we've launched or participated in an ever-growing range of initiatives to source sustainable supplies of raw materials, protect environments, support local communities and much more.  

Through this timeline you'll see how our brand portfolio has evolved. At the beginning of the 21st century, our Path to Growth strategy focused us on global high-potential brands and our Vitality mission is taking us into a new phase of development. More than ever, our brands are helping people 'feel good, look good and get more out of life' – a sentiment close to Lord Leverhulme's heart over a hundred years ago.

5

Introduction to Unilever

Unilever today

Our brands are trusted everywhere and, by listening to the people who buy them, we've grown into one of the world's most successful consumer goods companies. In fact, 150 million times a day, someone somewhere chooses a Unilever product.

Look in your fridge, or on the bathroom shelf, and you're bound to see one of our well-known brands. We create, market and distribute the products that people choose to feed their families and keep themselves and their homes clean and fresh. 

People's lives are changing fast. As the way we all live and work evolves, our needs and tastes change too. At Unilever we aim to help people in their daily lives. So we keep developing new products, improving tried and tested brands and promoting better, more efficient ways of working.

We have a portfolio of brands that are popular across the globe - as well as regional products and local varieties of famous-name goods. This diversity comes from two of our key strengths:

Strong roots in local markets and first-hand knowledge of the local culture. World-class business expertise applied internationally to serve consumers

everywhere.                    

Focusing on performance and productivity, we encourage our people to develop new ideas and put fresh approaches into practice. Hand in hand with this is a strong sense of responsibility to the communities we serve. We don't only measure success in financial terms; how we achieve results is important too. We work hard to conduct our business with integrity - respecting our employees, our consumers and the environment around us.

Unilever is one of the world's leading suppliers of fast-moving consumer goods. Here are some recent highlights from our three global divisions - Foods, home care and personal care.

Foods

The acquisition of Bestfoods in 2000 brought us leadership in the culinary category. Knorr is now our biggest brand, with €2.3 billion sales in over 100 countries and a product range covering soups, bouillons, sauces, noodles and complete meals.

We are the number one producer of frozen foods in Europe, under the Findus brand in Italy, Birds Eye in the UK and Iglo in other European countries.

We are the category leader in margarine and spreads in most European countries and North America, with brands such as Becel (the Netherlands), Flora (UK) and Take Control (US). We have met consumer demand for healthy foods by launching proactive, a spread which contains ingredients that can help reduce cholesterol levels.

6

In the branded olive oil category we are a leader, the most important brand being Bertolli. Appealing to consumers' taste for Mediterranean food, we have launched Bertolli pasta sauces and dressings.

We are the world's leading ice cream producer, with brands such as Algida and Wall's in Europe, and Ben & Jerry's in the United States. Innovations such as Magnum snack-sizes and Cornetto miniature and multi-packs have sparked progress.

We are the largest seller of packet tea in the world through our Lipton and Brooke Bond brands.                    

Home & personal care

We lead the home care market in much of the world, which includes cleansing and hygiene products.

Many of our home care products are market leaders including Brilhante, Cif, Comfort, Domestos, Omo, Skip and Snuggle.

Within the personal care market, we are global leaders in products for skin cleansing, deodorants and antiperspirants.

Our global core brands in the personal care market are Axe, Dove, Lux, Pond's, Rexona and Sunsilk.

7

Introducing Unilever Pakistan Ltd.

The company had a turnover of Rs. 23.3 bn  (Euro 309 Mn) in 2007, and enjoys a leading position in most of its core Home and Personal Care and Foods categories, e.g. Personal Wash, Personal Care, Laundry, Beverages (Tea) and Ice Cream.

The company operates through 5 regional offices, 4 wholly owned and 6 third party manufacturing sites across Pakistan.

Accountable to our stakeholders

Since the time Unilever Pakistan began its operations in 1948, the Company has been closely connected to the Pakistani people and its brands have been an integral feature in their daily lives. In fact, the nature of our business enables our brands to be the pulse and heartbeat of the 164 million people in Pakistan.

This is a huge commitment, which makes us responsible and accountable to all our stakeholders and society as a whole and strengthens our resolve to:

Make a positive difference to the lives of low income consumers Create new opportunities for growth Improve the overall quality of life in Pakistan, by promoting education, nutrition,

health and hygiene. 

8

Vision & Mission

Vision

We help people meet needs for nutrition, hygiene and wellbeing, with brands that help people look good, feel good and get more out of life

Mission

Vitality is at the heart of everything we do. It's in our brands, our people and our approach to business.

OBJECTIVES

o OFI – Opportunity For Improvement

o Always looking for improvement.

o The continuous improvement of all services through total involvement of all

employees.

o The developing and the strengthening of partnership with external and internal

customers and suppliers.

o Providing innovative and higher quality products and services to achieve total

customer satisfaction by understanding their requirements and anticipating

their future expectations or needs.

9

Purpose & principles

Our corporate purpose states that to succeed requires "the highest standards of corporate behaviour towards everyone we work with, the communities we touch, and the environment on which we have an impact."

Always working with integrity

Conducting our operations with integrity and with respect for the many people, organisations and environments our business touches has always been at the heart of our corporate responsibility.

Positive impact 

We aim to make a positive impact in many ways: through our brands, our commercial operations and relationships, through voluntary contributions, and through the various other ways in which we engage with society. 

Continuous commitment

We're also committed to continuously improving the way we manage our environmental impacts and are working towards our longer-term goal of developing a sustainable business.

Setting out our aspirations 

Our corporate purpose sets out our aspirations in running our business. It's underpinned by our code of business Principles which describes the operational standards that everyone at Unilever follows, wherever they are in the world. The code also supports our approach to governance and corporate responsibility.

Working with others

We want to work with suppliers who have values similar to our own and work to the same standards we do. Our Business partner code, aligned to our own Code of business principles, comprises ten principles covering business integrity and responsibilities relating to employees, consumers and the environment.

“Our Code of Business Principles document contains guidelines on how we do business and interact within Unilever and with others. It is our Standard of Conduct which is integrated in everything we do.”

10

VIEW OUR BRANDSUnilever makes and sells products under more than 400 brand names worldwide. Two billion people use them on any given day. Here is a selection of our top brands, available in many countries, along with the stories behind them.

11

Product lineFollowings are the product line of the Unilever Pakistan Limited:

Personal Wash Fabric & Home Care Oil & dairy best foods Tea Ice-cream

PERSONAL WASH TOILET SOAPS Lux toilet soap (4 varieties) Lifebuoy (carbolic soap)Lifebuoy Gold (2 varieties)Rexona (3 varieties)Breeze

FABRIC AND HOME CARE FABRIC WASH Ultra SurfSurf microSurf ExcelPower SurfSunlight Washing Powder & SoapWheel Washing Powder

HOME CARE Vim Dish Washer/Scourers Vim BarVim Powder

PERSONAL PRODUCTSHAIR CARESunsilk Shampoo (4 varieties)Lifebuoy health Shampoo

SKIN CAREFair & Lovely skin cream and lotionPonds skin creamPonds talc

12

DENTAL CARE Close-up Tooth paste Pepsodent Tooth Paste

OIL AND DAIRY BASED FOODBANASPATIDaldabanaspatiCOOKING OILDalda Cooking Oil (Soya Bean)Dalda Sunflower oilPlanta cooking oil

MARGARINEBlue Band margarine

INDUSTRIAL FATSA whole range of products for the bakery & oils for the industry.　TEALEAF TEAYellow LabelYellow label DanedarRichbruTop StarTaaza LeafSupreme

DUST TEAPearl DustRuby DustA1

MIXTURE TEATaaza　ICECREAM Cornetto(3varieties) Feast(2varieties)Feast-SticklessTop-TenStar-Cup(4varieties)Callipo

13

SplitFruitiPeddle-Pop(3varieties)3-DSolo(3varieties)Polka-CupPandaDraculaFamily Packs

14

MANAGEMENT OF THE COMPANYThe company is headed by the chairman who is assisted by a team of 7 members known as

the manage committee, which is responsible for initiating policies and overall planning. As

well as their general management duties the MC members are each responsible for a specific

function. Reporting to MC members are the Departmental heads who are responsible for

advising the MC for planning, implementation of policies and for ensuring that targets are

reached.

The management of the company is composed of a mix of international and Pakistan’s

business professionals. The management of the company includes SYED BABER ALI as a

director, who is also involved in many other organizations like Packages and other industries.

One member from each province attends the meeting. The top management of the company is

fully professional specially marketing department that is headed by Mr. JEFF LEE who has

wide experience in this field.

15

COMPANY STRUCTURE

EXECUTIVE COMMITTEEThe Executive Committee is responsible for agreeing priorities and allocating resources,

setting overall corporate targets, agreeing and monitoring business group strategies and plans,

identifying and exploiting opportunities created by Unilever's scale and scope, managing

external relations at the corporate level and developing future leaders.

Leading the team are the chairmen of Unilever PLC and Unilever N.V., the parent

companies. Other members are the global division directors for Unilever Best foods and

Home and Personal Care; the Corporate Development Director; the Finance director and the

Personnel director.

REGIONAL PRESIDENTThe regional presidents are responsible for delivering business results in their respective

regions. Regional presidents report to either the director of the Foods division or the director

of the Home and Personal Care division.

As members of either the Unilever Best foods or Home and Personal Care divisions, they

play an important role in shaping divisional strategy and ensuring that regional strategies and

plans are consistent with overall objectives.

ADVISORY DIRECTORSThe advisory directors are the principal external presence in Unilever's government. One of

their key roles is to assure that government provisions are adequate and reflect best practice.

The advisory directors comprise a majority of the members of certain key committees of the

Boards. They attend the key quarterly meetings, committee meetings, conferences of the

directors and the Executive Committee, as well as meetings with the Chairmen.

SENIOR CORPORATE OFFICERSUnilever's senior corporate officers are responsible for ensuring that board meetings and

board committee meetings are supplied with the information they need. So, for example, the

chief auditor ensures that the audit committee has the necessary information, while the head

of the corporate relations department keeps the external affairs and corporate relations

committee informed.

16

The Working Environment And Accountability

With the world fast becoming a Global Village and the Internet Information Technology

Revolution, the issues of HUMAN RIGHTS and Working Condition are becoming

significant important with each passing day.

Unilever can pride itself in having one of the most congenial and professional working

environments of any company operating in Pakistan. Unilever is an equal opportunity

employer and there is no discrimination on the basis of sex, caste or creed. All hiring and

promotion decisions are taken on merit. All local laws are adhered to regarding different

matters. Extreme emphasis is placed on worker safety and health

Selection & Career ladder

Personnel Department makes arrangements for the recruitments of the employees. For this

purpose it collects information about the desired employee’s functions and then defines the

job requirements and job profile. The Personnel Department makes all the arrangements for

the report meant of new employee, It sees better such employee is available in the

organization or not. In case of no, it gives the advertisement in the newspapers. It also

collects all the applications of the applicants. It also makes arrangements for test. The

Personnel Department uses different tests for different applicants. After that it arranges the

interviews for the succeeded applicants. Usually the interviews are bland of different types of

interviews. These interviews include panel interview, structured questions etc. The

background information about the succeeded applicants is also gathered by the Personnel

Department

　

17

MOTIVATIONThe organization has the opinion that motivated workers are more productive than unmotivated workers. To motivate its employees the organization uses both intrinsic and extrinsic approaches for motivation its employees.o Intrinsic Approacho Extrinsic Approach

INTRINSIC APPROACHJob rotation

XTRINSICE APPROACHTrainingAppreciation lettersBonusesCash awardsGiftsShieldsClocksPut the name of the workers on the notice board who perform an excellent performance. To motivate the employees the organization has introduced a program name OFI (Opportunity for Improvement).

Promotion Of Persons At UNILEVER

On the basis of experience and performance, they are promoted to higher managerial level; at

higher level I have seen various MBA, CA, ICMA and also people who have spend years at

Unilever. In order to provide incentives to employees at Unilever, cash rewards are also

granted. The head of the department, on job basis gives bonuses. The function of promotion

of the workers is also performed by ERD after consulting with the top management and

analyzing the past record of the workers.

18

Job Assessment

At Unilever Pakistan Limited Performance Appraisal is prepared to check the performance

of workers. It is like ACR (annual confidential report) in the government sector.

The basic Objectives of job assessment are

· Check the overall performance of employees

· Whether the job assigned is fully done or not

· Integrity, honesty

· Loyalty

· Devotion and commitment of the part of employee to achieve organizational objectives

Measures To Check Overall Performance

Higher manager to check the performance of employees adopts following measures,

· Standards are established first

· Measure the individual as well as collectively performance

· Compare actual performance with planned

· Taking corrective action

· Reviews of job are made.

· Superior management assesses accuracy of work.

On the basis of performance appraisal awards and rewards or punishments are given.

Accountability

Employees have to face inquiries or suspensions, if they are involved in activities which are

not according to the goal of Unilever Pakistan Limited. They are often terminated from their

jobs, if they are not performing well. They can be demoted from their ranks. In Unilever,

promotion is granted on performance basis so they are also accountable if they are

performing poorly.

19

If the employees are not obedient to their superior or involved in unethical activities, they

have to face the circumstances. Severe punishment like demotion, firing and suspensions are

given to non-performing or low-performing employees.

　

Satisfaction Of Employee

Employees have a high morale. Top management is maintaining very cordial relationships

with union leaders. Actually employees feel a part in the organization and its achievements.

COMPENSATION AND ADMINITRATION

The Unilever Pakistan Limited conducts the wages survey in the market and of the major

competitors after every two years and compares the results with its own package and there is

any difference then adjustment is made. The desire of Unilever R.F. is that its employees

must be satisfied in every aspect because it has the opinion that satisfied employees are more

productive as compared to dissatisfied. The Unilever gives 30 different types of allowances to

its employees. Some of these are annual, some are semi-annual, and some are monthly while

some are once in the whole employment period.

　

HEALTH AND SAFETY

Unilever R.F. is much conscious about the health and safety. Proper equipments are available

in all areas of the production where sensitive machinery is in operation. Furthermore, the

organization has a well equipped Medical Center where MBBS doctors are available in order

to meet with emergency cases.

The Personnel Department provides all possible instruments to all workers and it has the

desire that every worker should use those instruments in order to avoid losses.

Following are the Instruments which are provided to the workers:

Long shoes

20

Helmets

Gloves

Fire Instruments

BENEFITS & SERVICE

Unilever R.F. also provides certain benefits and services to all its employees. A list of some

benefits and services is given below:

Attendance Allowance

Good attendance award

Death Compensation

Canteen allowance

Tea Expenses

Conveyance Allowance

Family medical allowance

Family medical care

House rent Allowance

Utilities allowance

Meal Allowance

Rehabilitation Allowance

Retirement

Jersey

Shoes

Tonga Allowance

Traveling Announce

Hajj

Marriage Assistance To minorities

21

The organization has a club for the employees of the organization. Indoor and outdoor

facilities are also available. The company also celebrates Annual Sports Day on which

different games are played and prizes are given to the succeeded players by the company.

Personal Development And Training

Junior-level courses are frequently held in-house for personal training. Various courses

organized in the past include the following,

1. Executive Development Course

This course was specially designed for middle management to enhance their principle-

centered leadership qualities so that they could meet the emerging challenges of the global

world. Neuro-linguistic programming was part of the course to help the employee in day-to-

day activities to improve proficiency and effectiveness in their attitude and work style.

　

　

　

2. Basic English Language Course

This course was for those staff that is not proficient in written and verbal English language.

An external instructor whose services were especially hired for this purpose conducted the

course.

3. Basic Labor laws of Pakistan

Professionals from Labor Department organized this course. The main purpose was to give

acquaintances to the staff of their rights. Wage rates, vacations, working hours, child &

bonded labor etc, were the main topics covered.

4. In-Housing Training School

22

Unilever has also established an in-house Training School for unskilled labor so that they

may be trained. Unskilled manpower is hired from the market for training. And during this

period they are paid as per the prevailing wage rules.

HUMAN RESOURCES PLANNING

The most important function performed by the ERD is the Human Resource Planning. For a

smooth production there must be an effective Human Resource Planning. For This purpose it

makes long term and short term plans to make the labor available for production. Short term

Plans are made for those places where workers have gone on holidays or absent.

Under these plans it has two types of recruitment:

Badli

Temporary

For long term plans workers are recruited from the temporary workers who have become

skilled one.

23

REWARDS STRATEGIES TO INCREASE MOTIVATION:

To assess the extent to which organizations attempt to use their reward

strategies to increase motivation of their supervisors at multinational

organization of Unilever in Pakistan. Unilever Pakistan implementing

performance management process must also not lose track of variables

which are critical for its success and evaluate them at pre defines regular

intervals. Feedbacks must be depicted in charts in timely manner;

performers must be valued through some token of appreciation.

Performers’ reviews must be use as an opportunity to reflect how winning

can be possible in achieving goals and which practices must be adopted

and these reviews must be as frequent as possible so that the learning is

fortified. Always set many closely achievable milestones instead of

quarterly achievable milestones and whenever those milestones are

attained celebrate them. There must be some other source of feedback

other than annual performance appraisals. Keep in mind while designing

your organization’s program to be as original and unique as possible and

avoid the design to just comprise of forms.

24

Management Activities in Unilever Pakistan LimitedFor Customer Satisfaction:

Path to GrowthIntroduced in 2000, path to growth is Unilever’s corporate strategic agenda which aims to

double the size of the business in seven years and to grow profits faster than the competition,

thereby ensuring that we are the leaders in similar type companies in providing top value to

our shareholders.

Six Strategic ThrustsThe six strategic thrusts that make up the path to growth are;

1. Reconnect with ConsumerBy having real insights into consumer needs, preferences and future needs. This means

knowing and understanding consumers’ lifestyles, habits and attitudes and creatively

adapting brands to their changing needs.

2. Brand FocusGrow their leading international brands by concentrating our resources behind them while

still supporting ‘golden’ regional brands and local jewels. Innovation will be the keystone to

ensuring our brands are attuned to consumers’ future needs.

3. Pioneer New ChannelsWiden their means of ‘going to market’ i.e. reaching consumers and customers. This means

developing new channels such as direct selling, home-vending, fashion outlets, travel, food

service and out-of home.

4. World Class Supply ChainTo close the gap to global world class within three years by establishing brand synergies,

superior logistics and supply chain and by establishing a world program.

5. SimplifyEverything that they do by reducing complexity, duplication and by making the best use of

I.T. to provide high quality information once.

6. Enterprise CultureBy creating a culture which shapes the mindset and actions among all employees towards

winning in the market-place by building an organization fit for growth.

25

Total productive maintenance (TPM)

Total productive maintenance is global standard of efficient production, which cuts waste,

save money and make factories safer places to work. It gives machine operators the

knowledge and confidence to investigate and eliminate root causes of machine error or

breakdown as well as the chance to work in teams with managers to achieve improvements

on product lines.

Unilever started introducing TPM sometimes known as Total Perfect Management or Total

People Motivation in Japan in 1989 ahead of global roll-out program. Today, around 200

sites are using TPM techniques. The level one ‘excellent’ award applies simply to the factory

floor, ‘consistently excellent’ is for sustained performance and the ‘special’ award, much

harder to achieve, also includes innovation, manufacturing, sourcing and distribution.

26

QUALITY CONTROL　

Quality is the use of techniques and activities to achieve sustain and improve quality. It

involves integrating the following related techniques and activities:

1. Specification of what are needed.

2. Design of the product or service to meet the specifications.

3. Production or installation to meet the full intent of the specification.

4. Inspection to determine conformance to the specification.

5. Review of usage to provide information for the revision of specification if needed.

6. Utilization of these activities provides the customer with the best product or service at

lowest cost. The aim should be continuous quality improvement.

5 S’s of Workplace Organization.

The 5 S’s are a group of techniques to promote workplace organization, ensure adherence to

standards and foster the spirit of continues improvement.

The 1st S: Sort

Objective: To get rid of unwanted items. Decide what is needed to be kept, and what is not needed and to be discarded.

The 2nd S: Set Location and Limits

Objective: To locate a specific place for specific items of a specific quantity, where needed.

Determine addresses for materials and equipment. Put them in that place and keep them there.

The 3rd S: Shine and Sweep

Objective: To use cleaning to identify abnormalities and areas for improvement. Clean the

workplace and at the same time visually sweep for abnormalities or out or control conditions.

The 4th S: Standardize

Objective: To consolidate the first 3 S’s by establishing standard procedures. Determine the

best work practices and find ways of ensuring everyone does it the same “best” way.

The 5th S: Sustain

27

Objective: To sustain improvements and make further improvements by encouraging

effective use of the ‘Check-Act-Plan-Do’ cycles. Keep all current improvements in place and

develop an environment for future improvements.

28

SWOT Analysis

StrengthsØ Largest producing company of consumer products in PakistanØ Enjoying economies of scaleØ Good will in the marketØ Strong financial positionØ Some of its brands have become the generic name for those products as Dalda in ghee & surf in detergentsØ Market leader in tea industry with Lipton & Brook BondØ Capture 70 percent market share of ice cream industryØ Highly sales brands in skin care i.e. Ponds and Fair & LovelyØ Have Strong distribution channel in PakistanØ Wide product line in home wash

WeaknessØ High rates of skin care productsØ Ratio of success of new product is lowØ Huge inventory stocks of raw material and finished goodsØ Few new products are introduce in the market

OpportunitiesØ Capturing food industry by acquiring Raffan Best FoodsØ Wide scope of confectionery business for UnileverØ Unilever is looking to acquire Tapal tea　ThreatsØ Facing tough competition in Ghee and Cooking OilØ Facing tough competition in ice cream.Ø Unilever is facing a very tough competition in personal care and detergents by P&GØ There is very tough competition in detergents and soap marketsØ High inflation rate is increasing the cost of imported raw material day by day

29

RECOMMENDATIONS:

Recommendations for possible changes to practice at multinational

organization of Unilever in Pakistan. Certain sets of criteria are

designed keeping in mind all the salient aspects which are needed

to be catered in designing and evaluating programs.

Specific: Ambiguity emerges when there are unclear instructions

about the rewards and their required actions and this creates a

negative sense for the organization in the heart and mind of the

people. Keeping it simple, clear and specific helps remove

ambiguity and hence strengthening the overall program.

Meaningful: Rewarded achievements should carry a significant

return over investment for both the performer and the organization.

The rewards must be specified for an achievement which has any

significant impact on organizational progress as well as performer’s

personal or professional life.

Achievable: If goals are unrealistically high to achieve then those

propagates negative reinforcement within the employees so while

setting the goal for any individual or group of employees it should

be kept in mind that those goal must fall within the boundary of

achievable.

Reliable: The program designed must follow its rules and

procedures accordingly. Any Exceptions must be dealt with certain

pre-defined steps which are specified in the program’s design.

Timely: Time factor is very keen in positive reinforcement. The

Reward system heavily relies on rewarding the performers at the

right time for their hard work so that they can feel esteemed.

30

Certain intervals must be specified onto which the performers would

be rewarded.

31

Refrences:http://www.ukessays.com/essays/business/motivation-and-reward-from-hrm-at-unilever-pakistan-business-essay.php

32