PROJECT IN BUSINESS COMMUNICATION

Persons Contacted: Mr. Jayesh Arora, Compensation Department Miss. Jaya Jaiswani, Assistant Manager HR

Group Members: Srikant Bhat M-12-05 M-12-06

Joginder Singh Chandnani

Submitted To: Prof. (Dr.) Dinesh D. Harsolekar Director, IES Management College

1. Name of the company Aditya Birla Finance Limited 2. Address of the corporate office Office No.1, 18th floor, Tower No.1, Indiabulls Center, 841 Senapati Bapat Marg, Near Jupiter Mill Compound, Elphinstone Road, Lower Parel, Mumbai 400013. (India)

3. What is the category of the company? Private Limited

4. Which business sector the company belongs to Non-Banking Financial Services - Capital Markets - Corporate Finance - Mortgage - Infrastructure Finance - Micro Finance

5. Is the company listed on the stock exchange? (Y/N) No.

6. What is the sales turnover for the year 2011-12?

7. Is there a dedicated executive looking after Corporate Communication? (Y/N) Yes.

8. If yes, which part of the communication he looks after? (i) Internal communication that is done by marketing team but after getting approvals from Human Resources Executive Heads.

(ii)

External communication this is done by different team which is made up of at least one individual from each department.

9. Does the company have vision and mission statements? (Y/N) Yes.

10.If yes, is there any definite procedure for letting vision and mission statements be known to all the employees? (Y/N) Yes.

11.If yes, explain in one or two lines Mementos and Gifts (given to employees and Chief Guests at events), Reception and every place where it is visible to everyone (including visitors)

12.Is there any system to explain vision and mission statements to all the employees?(Y/N) Yes.

13.If yes, explain in one or two lines.

 Every six months a workshop is conducted known as Value Workshop, through which all the five values are explained (Integrity, Commitment, Passion, Speed, and Seamlessness). Activities where employees rate themselves on five values and Value based Awards are given by a team.

14.Is there any formal communication strategy followed by the company?(Y/N) Yes.

15.Apart from the committees required for corporate governance, are there committees at the departmental levels too?(Y/N) Yes.

16.If yes, what business these committees transact? I. II. III. IV. V. VI. Long term planning Short term planning Performance review Budgeting Routine reporting Any other

There are 5 to 7 members from across functions, which includes CEO for every decision to be taken. And most important is the finance team which looks after every aspect of budgeting, long term planning and short term planning. 17.Does the company insist only on formal communication or informal communication is also encouraged within the organization? Yes, most of the time.

And for informal communication firm organizes town hall meeting and parties; whereby employees can have one on one conversation with anybody (any person from any department of any designation)

18.For internal communication which channels are mostly used by the company? (if approximate percentage could be mentioned for each of the modes of communication) Sr. No 1 2 3 4 5 6 7 Channels Telephone Email Written memos SMSs Company website Personalized conversation Any other Percentage 15 % 25 % 5% 5% 30 % 10 % 10 %

Being in this techy era, we think passing the information via technology is the most effective and efficient way. Since ours is a financial institution which is ever-changing. So, we regularly keep updating our website for notices, changes in policies, or training schedules for employees.

19.For external communication (mostly, clients/customers/dealers/distributors etc) which mode of communication is mostly used?(if approximate percentage could be mentioned for each of the following modes) Sr. No 1 2 3 4 5 6 7 Channels Telephone Email Written memos SMSs Company website Personal Visits Any other Percentage 10% 10 % 5% 5% 25 % 30 % 15 %

For majority of time we prefer doing personal visits, because we believe face to face talks plays an important and different role for nurturing external relationships. And also two strategic reasons can be getting to know about market conditions (competitors), and to understand the nonverbal behavior of firm. 20.Do you think that at times there are confusions or misunderstandings among employees because of communication gap?(Y/N)

Yes.

21.Do you think that employees in the company need to constantly update their communication skills? (may be because of changing technology or change in the organization structure or change in the management style etc.) (Y/N) Yes.

22.Does the company organize training programmes for the executives/staff to improve their communication skills?(Y/N) Yes.

23.If yes, it is done by in-house trainers or by outside professionals? I. II. In-house trainers Outside professionals

Both, depends upon the subject of training. If its related to SOPs (Standard Operating Procedures), we have our In-house trainers and if related to enhancing of any specific communication skills or technical skills than we have a different outside professionals.

And we make sure that training is received by every individual irrespective of their position.

Instructions: 1. In their report students should mention the name and designation of the executive whom they met to collect the information. If possible they should attach the visiting card of the executive. 2. The project is to be done by a group of two students. 3. From the date of announcement it should be completed in a period of 30 days. 4. Students should submit a written report not exceeding 15 pages. 5. The group will give a presentation to the class which should not exceed 10 minutes.

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