SUMMER TRAINING PROJECT

REPORT
ON

Training and development Minda

Corporation Ltd
Submitted in Partial Fulfillment of

Master of Business Administration (MBA)

Programme : 2014-16

Of

Uttar Pradesh Technical University,

Lucknow
Under the Guidance of
(MR.R.C.S. NEGI)
H.R.Manager)

Submitted By
SAURABH YADAV
ROLL NO.-1401470018

Shri Ram MurtiSmarak College of Engineering & Technology, Bareilly

(College Code 014)
1

Shri Ram MurtiSmarak College of Engineering &

Technology
Bareilly(U.P.)
Faculty of Management Science

Certificate
This is to certify that Mr. Saurabh Yadav a student of MBA III Semester has
completed his Research Project Report titled Training and Development
assigned by MBA Department and under my supervision.
It is further certified that he has personally prepared this report that is the result of
his personal survey/observation. It is of the standard expected to MBA student and
hence recommended for evaluation.

Signature of the Supervisor

MR. S.K.SUMAN
Above statement is endorsed.
(Dr. Anant Kr. Srivastava)

Date:

HOD of MBA Department

SRMSCET, Bareilly

Declaration
This project has been undertaken as a partial fulfillment of the requirement for the
award of the degree of Master of Business Administration of U.P. Technical
University, Lucknow.
The project was executed during the fourth semester under the guidance of
MR.S.K.SUMAN, Faculty of Management Science, Shri Ram MurtiSmarak
College of Engineering and Technology.
Further I declare that this project is my original work and the analysis and
finding are for academic purpose only. This project has not been presented in any
seminar or submitted elsewhere for the award of any Degree or Diploma.

(SAURABH YADAV)
MBA

IIIrd

Semester

ACKNOWLEDGEMENT

I pay my gratitude to a number of persons & institution for enabling me to carry

out the project Training and Development

in order to provide vital

information about the various Training programmes and measurement of impact of

Training and Development of the employees.
I am deeply indebted to Mr.S.K.Suman for providing the opportunity of doing
my dissertation project on the and enable me to prepare a project report on the
Training and Development
I also thank to Dr. Anant Kr. Srivastava, Head of MBA Department,
SRMSCET for his invaluable support and guidance in completion of the project.
And last but not the least, I pay my gratitude to my parents who have always me
throughout my life.

(MOHIT KUMAR PATEL)

CONTENTS
Chapter 1: Introduction and Scope

1-29

1.1: Introduction of the topic

1.2: Scope of the study

1.3: objectives of the study

1.4: Theoretical perspective.

1.5: Measuring impact of training & development

1.6: About the Minda Corporation Ltd

1.7: Training & development in Minda Corporation Ltd

Chapter 2: Literature Review
Chapter 3: Research methodology

15
24
29
30
39-40

3.1Introduction

39

3.2 Type of Research

40

3.3 Population

40

3.4 Sample size

40

3.5Mode of data collection

40

Chapter: 4 Data analysis & interpretation

41-52

4.1: Introduction

41

4.2: Analysis of data

41-50

4.3: Findings

51

4.4: Limitations

52

Chapter: 6 Bibliography

53

Annexures:
1: Questionnaire

55

Chapter-1: INTRODUCTION AND SCOPE

Section1.1: Introduction of the topic
2013

Introduced foldable key in India with integrated remote to OEMs.

Supply of patented magnetic shutter started to ASEAN

2012

One patent filed by security systems for making a total number of 13

New Plant of security system was set up in Chennai.

Two patents filed for making a total number of 12 for security systems & 2 for
interiors.
2011
SAP Implementation in all Units
Acquired Electronics ESS Business for After Market from Minda Valeo

Production of Interior Plastics in India started

2010
Two Patents Filed by Interior Division making a total number of 10

Platinum Trophy from ACMA for Technology Excellence was received

2009

Commencement of Interior Division

New Plant set up in Pune

Acquired Die Casting Business at Greater Noida & Pune

Acquired Surface Finishing Business

Business of E Bike controllers with TAA from NEC corporation, Japan was sta
2008

Door System business with TAA - Castellon, Spain was Started

Four wheeler division hived off into a separate company - Minda Valeo Securi
Systems Pvt. Ltd.
2007
Company renamed as .
2006

First patent in Mechanical Security Systems filed

2005

New Plant set up in Pune

2004

Establishment of Manufacturing Plant in Aurangabad

Capacity increased to 20 Million locks / Annum

2003
Major re-layout Completed in a drive towards lean Manufacturing
2002

Operations Consolidated at single Location

Supply of Electronic Security Systems to Two & Four Wheeler OEM's Initiate

ISO 14001 certification Obtained

Inauguration of Exports Division

Exports of Two Wheeler Locksets to European Manufacturers Started

2001

Commencement of Electronic Division

Joined CII - ACT Cluster Project for Productivity & Quality Improvement
Q.S. 9000 Certification Obtained

1999

ERP Implemented

Introduction to RAPID tooling for faster development of parts

ISO 9001 Certification Obtained

1997

Capacity increased to 14 million locks / Annum

Exports for Mercedes Benz Started

Design from Concept
1996
Development of Solid / Surface Modeling capability
3

1995

Joint Venture formed with Huf Hlsbeck & Frst GmbH & Co. KG
Introduction to Four wheeler Locksets

1994
Introduction to Auto CAD for product design
1989

Commercial Production started for Two Wheeler locks

Minda Corporatation Ltd. commences operation under the name of Minda Swi
1985

Auto Pvt. Ltd. and started manufacturing Ignition Switches for Indian Automo
Industry

Philosophy of the Vision Statement

Dynamic
As a player the Group is sensitive to the rapidly changing business
environment. The actions of all Group Companies are and will be geared
towards meeting stringent benchmarks and norms that are required and will
be required.

Innovative
As a group we have been at the forefront of innovation. We intend to
increase our focus on innovation in products and technologies,
organizational structure, and optimizing efficiencies. We also are committed
to change management as a way of life to enable us to meet the emerging
challenges of the Industry.

Profitable
We want to emerge in the Global arena as a leading automotive player and
realize profitability in business so as to sustain and enhance our efforts
towards emerging as a leader in the industry.
5

Global
We are already Global and will continue to expand to meet the global
requirements of OEMs and be a significant player globally, in our own
domain. In spreading globally we will not focus on any specific country or
region but take decisions based on our core interests in the automotive
sector.

Automotive
We will stick to being a significant player in the automotive domain and
emerge as a systems supplier. We will not deviate from our core sector but
will expand to include different components and systems that align and have
synergy with our products and technologies.

Emerge as Preferred Supplier and Employer

We will be focused towards meeting the two essential areas of endeavor become a preferred supplier to global OEMs and also emerge as the
preferred employer in our Industry. For this, we plan to undertake several
initiatives such as closely monitoring every aspect of our move to offer
world-class products to our ever-increasing clientele. On the employee front,
6

we intend to continue with our people-sensitive initiatives so as to realize a

rich and vibrant work-culture and also, continue to nurture employees
towards greater efficiency, through training and development. As a Group,
we consider that our employees are equal owners and stakeholders and this
Group belongs to them all. We will continue to offer participation in the
Growth of our Group, to all our employees.

Create Value for all Stakeholders

As an Organization we are sensitive towards all stakeholders including our
esteemed Clients, our Employees and their Families, our Suppliers, and the
Society within which we operate. Our core focus is on developing
confidence, generating greater thrust towards undertaking active role in
building Customer Trust and Confidence, generating Greater Returns and
Trust for our Investors, undertaking Corporate Social Responsibility for
wider interests of the society and the needs of our Suppliers, as well as,
addressing the holistic Needs and Concerns of our Employees and their
Families.

Mission
'Our mission is to be an automotive System Solution provider and Build a
7

Brand recognized by vehicle manufacturers progressively all over the world,

as an organization providing products and systems Unparalleled in Quality
and Price.'
We are also committed to create and deliver value to our
Shareholders
We will ensure that our enterprise grows aggressively and earns adequate
returns.
Customers
We will make customers for lifetime and always strive to exceed their
expectations.
Partners
We will develop long term relationships with our partners based on mutual
benefit, trust, support & transparency.
Employees
We will treat our employees as family members and would provide them a
safe, healthy, stimulating and rewarding work environment.

Society
We will always be conscious of our responsibilities towards the society at
large and undertake welfare activities for the community.
8

Values
Commitment to Stakeholders
Demonstrate loyalty and dedication to the organization.
Passion for Excellence
Relentlessly improving and continuously raising the bar in everything we
do.
Open Communication
Reasoning, Knowledge, Experience Sharing, confronting fearlessly for the
good of the organization.
Integrity & Fairness
Fair and upright in intention and actions - always complying with
conscience.
Nurture Talent, Competency & Willingness
Create challenging opportunities and provide support for development of
self and team members. Encourage experimentation & willingness to accept
challenges.
Respect & Humility
Must be Courteous, Compassionate, Caring, Humane and Humble in all our
9

interpersonal dealings.
Innovation & Improvement Orientation
Challenge status quo. Demonstrate creativity for improvement and break
through.
Partnering
Leverages Interdependence, Cooperative, Readily provides support and
assistance to others.
Responsibility
Take ownership for the consequences of ones decisions and actions.
Cross Cultural Diversity
Build a vibrant workforce with different ethnicity, cultural orientation with
no prejudice due to sex / caste / creed / color and to cherish our diversity.

Core Values
Passion for Excellence
Nurture Talent, Competency & Willingness
Respect & Humility

10

Core Purpose
To be a happy, inspiring and proud place to work, setting benchmarks and
delivering products that give customers an edge in their businesses.

Section 1.5
MEASURING THE IMPACT OF TRAINING AND DEVELOPMENT

Management Team
Home About us Management Team
Security Division
Corporate :
Mr. Sudhir Kashyap

: Executive Director & CEO

Mr. Praveen Kumar
Dhawan

: Head Corporate Business Development

Mr. Devender Singh

Mehra

: Head Corporate Engineering

Mr. Bhaskar Kumar

: Head Corporate Supply Chain Management

Mr. P.S. Das

: Head Corporate HR

Mr. J.K. Gupta

: Head Corporate F & A

Security Division SBU

Heads :
Mr. Sumit Doseja

: Head SBU (Pant Nagar and Pune)

11

Mr. Ajay Kumar Sharma

: Head SBU (Noida)

Corporate :
Mr. Sanjay Aneja

: CFO

Die Casting Division :

Mr. Ashim Vohra

: President- Die Casting Business

Mr. Anil Chore

: Head Business Development

Mr. Ajay Kumar

: Head Financial

Die Casting Division SBU (Heads) :

Mr. Amit Jalan

: Head SBU (Greater Noida)

Mr. M.J. Vibhandik

: Head SBU (Pune)

12

THE CUSTOMER- APPROACH

Because there are so many reasons formeasuring program impact, its important
toconsider what an evaluation is supposed toaccomplish. The first step in doing so
requiresyou to identify the real customers orstakeholders of the program. The
customersinclude the program participants, theirmanagers, the HR staff, and senior
leaders.Each of these groups probably has differentquestions or expectations about
the purpose ofthe program. Once you have identified thesecustomers, its a good
idea to brainstorm a listof questions that each group might have aboutthe program.
For example:
Participants: Is this going to improvemy skills?
Managers: Will this program make myemployee more productive?
HR staff: Did this program address theright skill deficits?
Senior leaders: Will this program provide apositive return on our
investment?The questions posed by the customers will drivethe types of measures
that you select in theevaluation process. There is no point inspending time trying
to answer questions thatno one has asked. Additionally, you need tomake sure that
you answer the questions posedby your most critical customers.
13

LEVELS OF EVALUATION
Research & Development
Plant Locations
Minda Corporation Limited
Investor Relations
Minda Corporation Limited (NSE: MINDACORP) is a diversified
automotive components manufacturer with a product portfolio that
encompasses Safety, Security and Restraint Systems; Plastic Interior
Systems and Driver Information & Telematics Systems for auto OEMs
across the globe. It has manufacturing facilities at India, South-East Asia and
Europe.
The objective of Minda Corporation Investor Relations is to ensure
continuous and open communication with its shareholders and all financial
market participants.
Investor Presentation
14

Company Profile

Company Announcements
Earnings Call Transcripts-June 02, 2015

Sharcholding Patterns
Shareholding Pattern as of June 30, 2015

Corporate Governance Report

Q1 FY2016 Corporate Governance Report

Corporate Governance Policies

Policy on Material Non-Listed Subsidiary

Other Disclosures
Appointment Letters of Independent Directors

Earnings Releases and Presentations

Earnings Presentation Q1
15

Financial Results
Q1 FY2015 Standalone Financial Results

Shareholding Patterns
Shareholding Pattern as of June 30, 2014

Company Announcements
Notice of Board Meeting to be held on August 12, 2014

Corporate Governance Report

Q1 FY2015 Corporate Governance Report

Other Disclosures
Postal Ballot Form dated July 26, 2014

Annual Report
FY2014 Annual Report

Financial Results
16

Q1 FY2014 Standalone Financial Results

Shareholding Patterns
Shareholding as of June 30, 2013

Corporate Governance
Q2 FY2014 Corporate Governance Report

Annual Report
FY2013 Annual Report

Financial Results
Q1 FY2013 Standalone Financial Results

Shareholding Patterns
Shareholding as of June 30, 2012

Corporate Governance
Q1 FY2013 Corporate Governance Report
17

Other Disclosures
Outcome of AGM Sep 24, 2013

Annual Report
FY2012 Annual Report

Financial Results
Q1 FY2012 Standalone Financial Results

Shareholding Patterns
Shareholding as of June 30, 2011

Corporate Governance
Q1 FY2012 Corporate Governance Report

Other Disclosures
Outcome of AGM Mar 16, 2012

18

19

Section 1.6

VISION & MISSION

Vision
' To be a Dynamic, Innovative And Profitable Global Automotive
Organization for Emerging as the Preferred Supplier and Employer, to
Create Value for all Stakeholders'

20

Minda Corporation Limited

FAMILIARIZATION PROGRAMME FOR INDEPENDENT DIRECTORS
Purpose and Objective of the Programmes:
To provide insights into the Company to enable the Independent Directors to
understand the Companys business in depth that would facilitate their active
participation in managing the Company.
Familiarization process:

The Company through its Executive Director/ Key Managerial Personnel

conducts programmes/ presentations periodically to familiarize the
Independent Directors with the strategy, operations and functions of the
Company.

Such programmes/ presentations provide an opportunity to the

Independent Directors to interact with the Senior Management of the
Company and help them to understand the Companys strategy, business
model, operations, service and product offerings, markets, organization
structure, finance, human resources, technology, quality, facilities and risk
management and such other areas as may arise from time to time.

21

 The programmes/ presentations also familiarises the Independent

Directors with their roles, rights and responsibilities.

When a new Independent Director comes on the Board of the Company, a

meeting is arranged with the Chairperson, Executive Director, Chief
Financial Officer to discuss the functioning of the Board and the nature of
the operation of the Companys business activities.

New Independent Directors are provided with copy of latest Annual

Report, the Code of Conduct, Code of Conduct for Prevention of Insider
Trading and Schedule of upcoming Board and Committee meetings.

The Company provides the Directors with the tours of companys

facilities from time to time.

A detailed Appointment Letter incorporating the role, duties and

responsibilities, remuneration and performance evaluation process,
insurance cover, Code of Conduct and obligations on disclosures, is issued
for the acceptance of the Independent Directors.
Other initiatives to update the Directors on a continuing basis:
22

 The Directors get an opportunity to visit Companys plants, where plant

heads appraise them of the operational and sustainability aspects of the
plants to enable them to have full understanding on the activities of the
Company and initiatives taken on safety, quality, CSR, etc.

The Directors are provided Companys website address www.minda.co.in

for their regular updation on Companys operations and activities.

Quarterly presentations on operations made to the Board include

information on business performance, operations, market share, financial
parameters, working capital management, fund flows, senior management
change, major litigation, compliances, subsidiary information, regulatory
scenario etc.

Quarterly results / press release of the Company are also sent to the
Directors.

23

CHAPTER 2
LITERATURE REVIEW

MINDA CORPORATION LIMITED

RELATED PARTY TRANSACTIONS POLICY
1. Preamble
The Board of Directors (the Board) of Minda Corporation Limited (the
Company or MCL), has
adopted the policy and procedures with regard to Related Party Transactions
as mentioned in this
document.
The policy defines the procedure - for transactions between the Company
and its Related Parties
based on the applicable laws and regulations.
2. Purpose
This policy is framed in accordance with the applicable provisions of
Companies Act, 2013 and
Clause 49 of the Listing Agreement entered by the Company with the Stock
Exchanges. The policy

24

describes the procedure to be followed along with the reporting and

disclosure requirements for the
transactions entered between the Company and its Related Parties. Such
transactions shall be
deemed appropriate if they are in the best interest of the Company and its
shareholders. The
Company, as per statutory requirements, needs to disclose related party
transactions in its Financial
Statements along with the policies framed to regulate such transactions.
3. Definitions
Audit Committee or Committee means Committee of Board of
Directors of the Company
constituted under provisions of Listing agreement and Companies Act, 2013.
Board means Board of Directors of the Company
Control shall have the same meaning as defined in SEBI (Substantial
Acquisition of Shares and
Takeovers) Regulations, 2011
Key Managerial Personnel means key managerial personnel as defined
under the Companies
Act, 2013 and includes
25

(i) the Chief Executive Officer or the Managing Director or the Manager;
(ii) the Company Secretary;
(iii) the Whole-Time Director;
(iv) the Chief Financial Officer; and
(v) such other officer as may be prescribed.
Material

Related

Party

Transaction,

transaction

entered

into

individually or taken together with

previous transactions during a financial year, exceeds ten percent (10%) of
the annual consolidated
turnover of the company as per the last audited financial statements.
Policy means Related Party Transaction Policy.
Related Party means related party as defined in Clause 49 of the Listing
Agreement which is as
follows:
A Related Party' is a person or entity that is related to the company. Parties
are considered to be
related if one party has the ability to control the other party or exercise
significant influence over the
other party, directly or indirectly, in making financial and/or operating
decisions and includes the
26

following:
1. A person or a close member of that persons family is related to a
company if that person:
a. is a related party under Section 2(76) of the Companies Act, 2013 which
are as follows:
(i) a director or his relative ;
(ii) a key managerial personnel or his relative ;
(iii) a firm, in which a director, manager or his relative is a partner ;
(iv) a private company in which a director or manager is a member or
director ;
(v) a public company in which a director or manager is a director or holds
along with his
relatives, more than two per cent of its paid-up share capital ;
(vi) any body corporate whose Board of directors, managing director, or
manager is
accustomed to act in accordance with the advice, directions or instructions of
a
director or manager ;
(vii) any person under whose advice, directions or instructions a director or
manager is
27

accustomed to act :
Provided that nothing in sub-clauses (vi) and (vii) shall apply to the advice,
directions or instructions
given in a professional capacity;
(viii) any company which is
(A) a holding, subsidiary or an associate company of such company ; or
(B) a subsidiary of a holding company to which it is also a subsidiary ;
(ix) Director or key managerial personnel of the holding company or his
relative with
reference to a company; or
b. has control or joint control or significant influence over the company; or
c. is a key management personnel of the company or of a parent of the
company; or
2. An entity is related to a company if any of the following conditions
applies:
a. The entity is a related party under Section 2(76) of the Companies Act,
2013; or
b. The entity and the company are members of the same group (which means
that each
parent, subsidiary and fellow subsidiary is related to the others); or
28

c. One entity is an associate or joint venture of the other entity (or an

associate or joint
venture of a member of a group of which the other entity is a member); or
d. Both entities are joint ventures of the same third party; or
e. One entity is a joint venture of a third entity and the other entity is an
associate of the third
entity; or
f. The entity is a post-employment benefit plan for the benefit of employees
of either the
company or an entity related to the company. If the company is itself such a
plan, the
sponsoring employers are also related to the company; or
g. The entity is controlled or jointly controlled by a person identified in (1).
h. A person identified in (1)(b) has significant influence over the entity (or of
a parent of the
entity)
Related Party Transaction means any transaction directly or indirectly
involving any Related Party
which is a transfer of resources, services or obligations between a company
and a related party,
29

regardless of whether a price is charged.

Relative means relative as defined under the Companies Act, 2013 and
includes any one who is
related to another, if
i. They are members of a Hindu Undivided Family;
ii. They are husband and wife;
iii. Father (including step-father);
iv. Mother (including step-mother);
v. Son (including step-son);
vi. Sons wife;
vii. Daughter
viii. Daughters husband
ix. Brother (including step-brother)
x. Sister (including step-sister)
4. Policy
All Related Party Transactions must be reported to the Audit Committee and
referred for approval by
the Committee in accordance with this policy.
5. Procedure

30

i) All Related Party Transactions shall require prior approval of the Audit
Committee. However, the
Audit Committee may grant omnibus approval (valid for a period not
exceeding one year and
shall require fresh approval after the expiry of one year) for Related Party
Transactions proposed
to be entered into by the Company subject to the following conditions:
a) Omnibus approval shall be accorded as per the laid down criteria and in
line with the policy on
Related Party Transactions of the Company and such approval shall be
applicable in respect of
transactions which are repetitive in nature.
b) The Audit Committee shall satisfy itself the need for such omnibus
approval and that such
approval is in the interest of the Company;
c) Above approval shall specify the name/s of the related party, nature of
transaction, period of
transaction, maximum amount of transaction that can be entered into, (ii) the
indicative base

31

price / current contracted price and the formula for variation in the price if
any and (iii) such other
conditions as the Audit Committee may deem fit;
Where the Company cannot foresee the need for Related Party Transaction
and details
mentioned in (c ) above are not available, Audit Committee may grant
omnibus approval for
such transactions subject to their value not exceeding `1 crore per
transaction.

32

The Audit Committee shall on quarterly basis review the details of

transactions entered into by the
Company with reference to such omnibus approval given.
ii) All material Related Party Transactions shall be recommended by Audit
Committee to the Board
and Board shall further recommend the same for approval of the
shareholders through special
resolution and the related parties shall abstain from voting on such
resolutions. However
shareholders approval is not required for such transactions entered with
wholly owned subsidiary
companies.
iii) All other Related Party Transactions, which are not in ordinary course of
business or not on arms
length basis shall be recommended by Audit Committee to the Board and
Board shall further
recommend the same for prior approval of the shareholders by a special
resolution.
6. Identification of Potential Related Party Transactions

33

Each director and Key Managerial Personnel is responsible for providing

notice to the Board or Audit
Committee of any potential Related Party Transaction involving him or her
or his or her Relative,
including any additional information about the transaction that the Board/
Audit Committee may
reasonably request. Board/ Audit Committee will determine whether the
transaction does, in fact,
constitute a Related Party Transaction requiring compliance with this policy.
The Company strongly prefers to receive such notice of any potential
Related Party Transaction well
in advance so that the Audit Committee/ Board has adequate time to obtain
and review information
about the proposed transaction.
7. Review and Approval of Related Party Transactions
Related Party Transactions will be referred to the next regularly scheduled
meeting of Audit
Committee for review and approval. Any member of the Committee who has
a potential interest in

34

any Related Party Transaction will abstain from discussion and on the
approval of the Related Party
Transaction.
To review a Related Party Transaction, the Committee will be provided with
all relevant material
information of the Related Party Transaction, including the terms of the
transaction, the business
purpose of the transaction, the benefits to the Company and to the Related
Party, and any other
relevant matters. In determining whether to approve a Related Party
Transaction, the Committee will
consider the following factors, among others, to the extent relevant to the
Related Party Transaction:
Whether the terms of the Related Party Transaction are fair and on arms
length basis to the
Company and would apply on the same basis if the transaction did not
involve a Related
Party;
Whether there are any compelling business reasons for the Company to
enter into the
35

Related Party Transaction and the nature of alternative transactions, if any;

Whether the Related Party Transaction would affect the independence of
an independent
director;
Whether the proposed transaction includes any potential reputational risk
issues that may
arise as a result of or in connection with the proposed transaction;

36

Whether the Company was notified about the Related Party

Transaction before its commencement; and
Whether the Related Party Transaction would present an improper
conflict of interest for any
director or Key Managerial Personnel of the Company, taking into account
the size of the
transaction, the overall financial position of the director, Executive Officer
or other Related
Party, the direct or indirect nature of the directors, Key Managerial
Personnel or other
Related Partys interest in the transaction and the ongoing nature of any
proposed
relationship and any other factors the Committee deems relevant.
8. Related Party Transactions not approved under this Policy
In the event the Company becomes aware of a Transaction with a Related
Party that has not been
approved under this Policy prior to its consummation, the matter shall be
reviewed by the
Committee. The Committee shall consider all the relevant facts and
circumstances regarding the
37

Related Party Transaction and shall evaluate all options available to the
Company, including
revision or termination of the Related Party Transaction. The Committee
shall also examine the facts
and circumstances pertaining to the failure of reporting such Related Party
Transaction to the
Committee under this Policy and shall take any such action it deems
appropriate.
In connection with any review of a Related Party Transaction, the
Committee has authority to modify
or waive any procedural requirements of this Policy.
9. Policy Review
In case of any subsequent changes in the provisions of the Companies Act,
2013, or any other
regulations which makes any of the provisions in the Policy inconsistent
with the Act or regulations,
the provisions of the Act or regulations would prevail over the Policy and
the provisions in the Policy
would be modified in due course to make it consistent with law.

38

This Policy shall be reviewed by the Audit Committee as and when any
changes are to be
incorporated in the Policy due to change in regulations or as may be felt
appropriate by the
Committee. Any changes or modification on the Policy as recommended by
the Committee would be
presented for approval of the Board of Directors.
10. Disclosure
Related Party Transactions or contract or arrangement entered shall be
disclosed in the following
manner:
i) Every contract or arrangement, which is not in ordinary course of business
or not on arms length
basis, shall be disclosed in the Board's report to the shareholders along with
justification for
entering into such contract or arrangement.
ii) Details of all material transactions with related parties shall be disclosed
quarterly along with the
compliance report on corporate governance; and

39

iii) The policy shall be disclosed on the website of the Company

www.minda.co.in and a web link
thereof shall be provided in the Annual Report every year.

40

Chapter 3: RESEARCH METHODOLOGY

Research & Development
Plant Locations
Minda Corporation Limited
Investor Relations
Minda Corporation Limited (NSE: MINDACORP) is a diversified
automotive components manufacturer with a product portfolio that
encompasses Safety, Security and Restraint Systems; Plastic Interior
Systems and Driver Information & Telematics Systems for auto OEMs
across the globe. It has manufacturing facilities at India, South-East Asia and
Europe.
The objective of Minda Corporation Investor Relations is to ensure
continuous and open communication with its shareholders and all

41

Research instrument
Data was also collected using secondary sources like internet and some books,
whereas mainly, primary data source i-e, questionnaire was used to collect data
from existing employees of selected organizations. Questionnaire consisting of 10
questions is distributed (questionnaire is given in annexure). 5 questions are
related to the training and development programs that are carried out in different
organizations: the remaining 5 questions are to investigate the effect of that
training and development on the performance of the employees. Some data has
been collected through interviews with the existing employees. Interview of a HR
manager will be taken to verify the results.
Type of study
The study is of descriptive nature and it is carried out to find the reasons how and
in which way T&D programs affect the performance of an organization employee.

Population
The population of the study consists of existing employees, managers of Human
Resource and Administrative Departments. Thus the respondents of the study have
been drawn from the employees, managers of Human Resource and
Administrative Departments.
Total number of 30 questionnaires was distributed in these organizations.

42

Sample size
As population size is 30.
Measuring level of Employees performance
Instrument/ Questionnaire used to determine employee performance after
undergoing a T&D program consist of five responses on linkert scale.
1.
2.
3.
4.
5.

Strongly agree
Agree
Neither agreed nor disagree/Neutral
Disagree
Strongly disagree

43

Chapter 4: DATA ANALYSIS AND INTERPRETATION

Sample size (30)
Q.1.Have you gone through training programme?
DESCRIPTION:-I want to know how many employees have attended the training
programmes.
TABLE NO 1:The response of employees that they have gone through training
programme.
S.No
.
1
2
3

80%
70%

Preferences

Respondents

Yes
No
Cant say
Total

21
00

Percentage
70%
30%
100%

09
30

70%

60%
50%
Yes

40%

30%

30%

No
Can't Say

20%
10%
0%
Training Programme attended by employees

FIGURE NO: 1Theresponse of employees that they have gone through

training programme.

Interpretation:70% of the employees said that they have gone through training programme and
30% of the employees said that they have not gone through training programme.
44

Q.2Is training programme improve your productivity?

DESCRIPTION:-I want to know how many members have opinion that training
workshop improves their performance in work.
TABLE NO 2: The response of employees towards improvement of their
productivity through training programme.
S.N

A
B
C
D
E

Preferences
Strongly Disagree
Disagree
Somewhat Agree
Agree
Strongly Agree
Total

Respondents

Percentage

00

00%

00

00%

01

03%

26

87%

03

10%

30

100%

Training relevance to Productivity

10% 3%

Strongly Disagree
Disagree
Somewhat Agree
Agree

87%

Strongly Agree

FIGURE NO 2: The response of employees towardsimprovement of their

productivity through training programme.

Interpretation:87% of the employees agree that training improve their productivity, 10% of the
employees strongly agree and 3% of the employees somewhat agree.
45

Q.3Is training programme improve your skill?

DESCRIPTION:-I want to know how many members have opinion that training
classes help in improving employees skills.
TABLE NO 3: The response of employees towards improvement of their skill
through training programme.
S.N

A
B
C
D
E

Preferences
Strongly Disagree
Disagree
Somewhat Agree
Agree
Strongly Agree
Total

Respondents

Percentage

00

00%

00

00%

01

03%

26

87%

03

10%

30

100%

Training relevance to Employee's skill

10% 3%

Strongly Disagree
Disagree
Somewhat Agree
Agree

87%

Strongly Agree

FIGURE NO 3: The response of employees towardsimprovement of their skill

through training programme.

Interpretation:87% of the employees agree that training improve their skill, 10% of the
employees strongly agree and 3% of the employees somewhat agree.
46

Q.4Is training programme improve your knowledge?

DESCRIPTION:-I want to know how many employees have opinion that
Training programs help in enriching the knowledge and awareness.
TABLE NO 4: The response of employees towards improvement of their
knowledge by training programme.
S.N

A
B
C
D
E

Preferences
Strongly Disagree
Disagree
Somewhat Agree
Agree
Strongly Agree
Total

Respondents

Percentage

00
00

01

03%

26

87%

03

10%

30

100%

Training relevance to Knowledge

10% 3%

Strongly Disagree
Disagree
Somewhat Agree
Agree

87%

Strongly Agree

FIGURE NO 4: The response of employees towardsimprovement of their

knowledge by trainingprogramme.

Interpretation:87% of the employees agree that training improve their knowledge, 10% of the
employees strongly agree and 3% of the employees somewhat agree.
47

Q.5Do employees receive the training necessary to do their jobs?

DESCRIPTION:-I want to know how many employees have opinion that
appropriate training programmes are given according to the designations of
employees in the organization.
TABLE NO 5: The response of employees towards the necessary training related
to the job.
S.No
.
A
B
C
D
E

Preferences

Respondents

Strongly Disagree
Disagree
Somewhat Agree
Agree
Strongly Agree
Total

00
00
09
15
06
30

Percentage
30%
50%
20%
100%

Training related to the Job

Strongly Disagree

0.2

0.3

Disagree
Somewhat Agree
Agree

0.5

Strongly Agree

48

FIGURE NO 5: The response of employees towards the necessary training related

to the job.

Interpretation:50% of the employees agree that necessary training related to the job is provided,
20% of the employees strongly agree while 30% of the employees somewhat agree

Q.6Do employees receive needed training about new technologies?

DESCRIPTION:-I want to know how many employees have opinion that training
provided are of latest technology oriented and highly competitive.
TABLE NO 6: The response of employees towards the necessary training in new
technologies.
S.No.
A
B
C
D
E

Preferences
Strongly Disagree
Disagree
Somewhat Agree
Agree
Strongly Agree
Total

Respondents
00
03
09
12
06
30

Percentage
10%
30%
40%
20%
100%

49

Percentage

20%

Strongly Disagree

10%

Disagree

30%

Somewhat Agree
Agree

40%

Strongly Agree

FIGURE NO 6: The response of employees towards the necessary training in new

technologies.

Interpretation:40% of the employees agree that training in new technologies is provided, 30% of
the employees somewhat agree, 20% of the employees strongly agree and 10% of
the employees disagree.

Q.7Is training opportunities are unfairlyallocated across employees or work units?

DESCRIPTION:-I want to know how many employees believe that training
benefits and communication is among specific group of employees/management.
50

TABLE NO 7: The response of employees towards trainingopportunities are

unfairly allocated across employees or work units?
S.No.
A
B
C
D
E

Preferences
Strongly Disagree
Disagree
Somewhat Agree
Agree
Strongly Agree
Total

Respondents
27
00
00
03
00
30

Percentage
90%
10%
100%

Unfairly allocation of Training

Strongly Disagree

10%

Disagree
Somewhat Agree
Agree

90%

Strongly Agree

51

FIGURE NO 7: The response of employees towards trainingopportunities are

unfairly allocated across employees or work units?

Interpretation:90% of the employees strongly disagree that the trainingopportunities are unfairly
allocated across work units, while 10% of the employees agree.

Q.8Do supervisors/team leaders support employee efforts to learn outside the job?
DESCRIPTION:-I want to know how many employees have opinion that their
superiors encourage and motivate to increase their skills through attending various
national seminars and training programmes.
TABLE NO 8: The response of employees towards support of supervisors to learn
outside the job.
S.No
.
A
B
C
D
E

Preferences

Respondents

Percentage

Strongly Disagree
Disagree
Somewhat Agree
Agree
Strongly Agree
Total

00
00
00
24
06
30

80%
20%
100%

Support of Supervisors to Employee's

Strongly Disagree

20%

Disagree
Somewhat Agree
Agree

80%

Strongly Agree

52

FIGURE NO 8: The response of employees towards support of supervisors to

learn outside the job.

Interpretation:80% of the employees agree that supervisors are supportive to learn outside the
job and 20% of the employees strongly agree.

Q.9Does high priority is given to providing appropriate training?

DESCRIPTION:-I want to know how many employees are aware about the
relevance of appropriate training programs.
TABLE NO 9:The response of employees towards importance of providing
appropriate training.
S.No.
A
B
C
D
E

Preferences
Strongly Disagree
Disagree
Somewhat Agree
Agree
Strongly Agree
Total

Respondents
00
00
00
27
03
30

Percentage(%)
90%
10%
100%
53

Priority given to Training

Strongly Disagree

10%

Disagree
Somewhat Agree
Agree

90%

Strongly Agree

FIGURE NO 9: The response of employees towards importance of providing

appropriate training.

Interpretation:90% of the employees agree that appropriate training is provided and 10% of the
employees strongly agree that training programmes are provided appropriate.

Q.10.Are you satisfied with the training programme?

54

DESCRIPTION:-I want to know how many employeesare satisfied with the

training and development programmes provided are Minda Corporation Ltd.
TABLE NO: 10The response of employees towards the satisfaction by the
training and development programmes.
S.No.
1
2
3

100%
90%

Preferences
Yes
No
Cant say
Total

Respondents
27
00
03
30

Percentage
90%
10%
100%

90%

80%
70%
60%
Yes

50%

No

40%

Can't say

30%
20%

10%

10%
0%

Employee's Satisfaction towards Training Programme

FIGURE NO: 10The response of employees towards the satisfaction by the

training and development programmes.

Interpretation:90% of the employees are satisfied by the training & development programmes
and 10% of the employees are not satisfied.

55

Section 4.2: FINDINGS

By the survey it can be concluded that:

A) Almost all Employees believe training and development have positive impact
on the knowledge and skills.
B) Most of the respondents highly agree that their abilities and skills have
increased through training programs.
C) Most of the respondents strongly agree that organization productivity and
profitability had increased through training and development programs.
D) In the survey, it is analyzed that training programs is a vital and necessary
tool for organizational and employees development.

Section 4.3 LIMITATIONS

1. Some members were hesitating to give the details.

56

2. Some members were not present and difficult to approach.

3. Biasness is another limitation that the scope of the survey.
4. The reliability and scope of survey greatly relies on the cooperation of the
members.

5. The study is restricted only to the members of the HR and employees of

Spark Minda.

6. Information provided by the members may not be accurate.

7. Some of the members dont have time for filling the questionnaires due to
busy schedule and meeting hours.

BIBLIOGRAPHY
WEBSITES:
www.minda.net
57

 www.sparkmindas.com
www.scribd.com
www.minda.com

58

ANNEXURES

59

EMPLOYEES SATISFACTION TOWARDS TRAINING & DEVELOPMENT

Name:
Department:
Age :
1
Strongly
Disagree

Date:

2
Disagree

Attributes

1
2
3
4
5
6
7

9
1
0

3
Somewhat Agree

Please tick the relevant

4
Agree

5
Strongly Agree

Have you gone through training

programme?
Is training programme improve your
productivity?
Is training programme improve
your skill?
Is training programme improve
your knowledge?
Do employees receive the training
necessary to do their jobs?
Do employees receive needed training
about new technologies?
Is training opportunities are
unfairlyallocated across employees or
work units?
Do supervisors/team leaders support
employee efforts to learn outside the
job?
Does high priority is given to
providing appropriate training?
Are you satisfied with the training
programme?

60

Note: Please give your valuable suggestions for improving the low score areas.
Sl. No.
1
2

Suggestions

61