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CHAPTER 1 INTRODUCTION
CHAPTER 6 ANNEXURE
Questionnaire
CHAPTER 7 BIBLIOGRAPHY
LIST OF TABLES
Employees are unhappy so they want to know the quality of work life of the employees
scientifically
The scope of the study comprised procedures, working environment, job satisfaction, and
attitude
METHODOLOGY
Design:
The nature of the research was exploratory as well as diagnostic. The study aimed to know the
behavioral and technical training needs of the employees.
Primary data:
Primary data is collected with the help of interview schedule method by using a questionnaire
from the target employees, interpretation can also be done correctly by this method. This is
because the method is much helpful in factors such as obtaining choices and helping respondents
to understand the choices and helping respondents to understand the significance and answer to
their ability. In this method the response rate and reliability is much higher. In addition to this,
data is also collected through observation method.
Secondary data:
Primary data was not adequate so secondary data was collected through records, personnel
reports of VKG, business journals academic bodies personnel department.
1. Time constraint
4.. This study was restricted to Sutherland, Chennai due to time and cost constraints and
5. The study is focused on Quality of Work Life only and other aspects are not under
purview.
6. There may be changes in HR policies and strategies in the future which in turn may
INTRODUCTION
Introduction
This chapter presents the theoretical concepts about issues related to quality of work life. It also
provides the profile of the study company, namely, Sutherland besides aim and
QWL: The term (Johnson, 2000) Quality of Work Life (QWL) was first introduced in 1972 during
an international labour relations conference. QWL received more attention after United Auto
Workers and General Motors initiated a QWL program for work reforms. QWL is a process by
share fully in making the decisions that design their lives at work. QWL has been well recognized as
a multi-dimensional construct.
Quality of Life / Living: The Quality of Living index (web 2) is based on several criteria used to
judge whether an expatriate is entitled to a hardship allowance. A city with a high Quality of
Living index is a safe and stable one, but it may be lacking the dynamics that makes people want
to live in world-renowned cities such as Paris, Tokyo, London or New York. Sometimes you
need a little spice to make a city exciting. What makes one person's quality of life better or worse
Some basic concepts and definitions / meanings (web 4) related to the issues under study are
presented below:
Annualised hours: The employee and employer agree on the total number of hours the
employee will work per year, rather than per day or week. This allows flexible working patterns
Career breaks: Literally a break in a career – usually to take care of a child or children. No
employment status, as the employee has usually resigned from their position.
Childcare facilities / On-site crèche: The employer provides a childcare facility for staff with
children, or alternatively may subsidise the cost of education of childcare at an external provider.
Compressed working week: Contractual full-time hours are worked during the week but with a
variance such as working longer hours over four days instead of a five-day week.
Core hours: Hours (for example, 10.30am to 4.30pm) during which people working `flexitime’
counselling services to employees when needed, on issues from stress through to coping with
bereavement. The external organisation provides direct access to counsellors, and other advisors,
for employees who may be troubled by family, personal, or work related problems. Employees
Family-friendly: Any policy or practice that helps families balance work and family
commitments.
Fitness benefits: The employer provides gym or health club membership for employees.
However, fitness benefits can be wider than simply a gym membership. For example, employees
may be provided with a certain fixed amount of money per year to spend on
employer and employee agree that the employment relationship will end after a specific period of
Flexible working: An agreed working arrangement that differs from the ‘standard’ working
arrangement. Quality flexible work allows employees to meet personal commitments, such as
dropping children off at school or working as a volunteer, while at the same time the meeting the
Flexitime: Employees must work their ‘core hours’ and complete an agreed total number of
hours, but otherwise can choose when their working day will begin and/or end.
Health benefits/private healthcare benefits: Employees are given health checks and advice
from health professionals. Additionally the employer may buy in healthcare services from a
private healthcare firm, to enable employees to receive free or discounted healthcare benefits.
Holiday purchase: A scheme that enables employees to buy an additional number of days’
holiday on top of their annual entitlement. The cost of a day’s holiday will usually vary
according to salary and be taken out of an employee’s annual pay. There is usually a limit to the
Job share: The responsibilities of one job are rearranged and split between two part-time
workers.
Lifestyle support: The employer sets up services to assist employees in managing their busy
lives such as arranging for dry-cleaning to be picked up from, and delivered back to, the business
address.
Mentoring: The employer offers support to an employee from a mentor, normally based outside
the organisation, either over the phone or face-to-face. The employee has regular sessions with
their mentor who advises on issues relating to business and personal goals.
Parental leave: Leave that working parents can take by law to care for their child after its birth
or adoption, provided certain criteria are met. Some employment agreements have parental leave
provisions that confer more beneficial entitlements than those provided by law.
Part-time working: A part-time employee has the same status as a full-time worker, but is
Sabbatical: A period of unpaid leave granted at intervals for rest, study or travel. .
Self-managed working: Employees and employers agree on what outputs or outcomes the
employee must deliver, and employees manage their own working time to do so.
Shift working: The working day is split into shifts (eg. 8 am to 4 pm, 4pm to 12 night and 12
night to 8 am). Shift working is common where the work needs to be done over a longer period
employer
Time Banking: The employee works slightly longer periods each day (such as an extra half
hour) and then takes the accumulated time as an extra afternoon or day off on a regular or semi-
regular basis (e.g. monthly). This needs to be by agreement between the employer and
employee.
agreement) or informal. Such an arrangement might be when an employer and employee agree
that any overtime an employee works is compensated for by paid time off work rather than
Unpaid leave: Absence from work for a set period of time, as agreed between the employer and
employee. The employee still maintains some kind of employment status but salary stops. The
employer and employee need to discuss whether benefits, such as holiday accrual, continue or
not, and how long the employee’s job will be held open for them.
Work-life balance: Work-life balance is about effectively managing paid work and the other
whether full or part-time. The employer normally provides technology in the employee’s home
(such as a computer) to allow the employee to maintain contact with the office and clients.
Theoretical concept
Background
This chapter presents research and conceptual work about quality of work life, work-family
The defining of quality of work life (web 6) involves three major parts: occupational health care,
suitable working time and appropriate salary. The safe work environment provides the basis for
the person to enjoy working. The work should not pose a health hazard for the person. The
employer and employee, aware of their risks and rights, could achieve a lot in their mutually
beneficial dialogue.
The term "Quality of Work Life" (Bandopadhyay, 2005) was first introduced in 1972 during an
international labour relations conference. QWL received more attention after United Auto
Workers and General Motors initiated a QWL program for work reforms. It was defined as "a
allow them to share fully in making the decisions that design their lives at work". QWL has been
well recognized as a multi-dimensional construct and it may not be universal or eternal. The
basic objectives of an effective QWL program are improved working conditions (mainly from an
perspective).
A win-win situation (Wood, 2003) may result if QWL is positively linked to business
performance. Positive results of QWL have been supported by a number of previous studies,
including reduced absenteeism, lower turnover, and improved job satisfaction. Not only does
QWL contribute to a company's ability to recruit quality people, but also it enhances a company's
competitiveness. Common beliefs support the contention that QWL will positively nurture amore
flexible, loyal, and motivated workforce, which are essential in determining the company's
competitiveness.
Other studies (Newsletter, 2005) also found positive associations between progressive human
resource management practices, such as training and staffing selectivity, and perceptual firm
Quality of work life (Price, 2000) is becoming a major concern to organizations because of the
(a) Personal costs (withdrawing from work, reduced job satisfaction and burnout or rust out) and
The well-being or quality of life (Indian Express, 2005) of a population is an important concern
in economics and political science. There are many components to well-being. A large part is
standard of living, the amount of money and access to goods and services that a person has; these
numbers are fairly easily measured. Others like freedom, happiness, art, environmental health,
and innovation are far harder to measure and could be more important. This has created an
inevitable imbalance as programs and policies are created to fit the easily available economic
numbers while ignoring the other measures that are very difficult to plan for or assess.
Employer and employee interests (Johnson, 2000) need not always conflict. Specifically, their
"win-win paradigm" for quality of work life and business performance suggests that a proper
alignment of management philosophy, business strategy, and human resource policies can
actually benefit all the key stakeholders. It is one’s personal satisfaction (or dissatisfaction) with
the cultural or intellectual conditions under which one lives (as distinct from material comfort)
work and the other activities that are important to people. It's not about saying that work is
wrong or bad, but that work shouldn't completely crowd out the other things that matter to people
like time with family, participation in community activities, voluntary work, personal
development, leisure and recreation. The 'right' balance is a very personal thing and will change
for each person at different times of their lives. For some people the issue is being able to get
into work or find more work rather than having too much work. There is no 'one size fits all'
solution.
Research has (Veenhoven, 2001) repeatedly shown that there are significant business benefits
• improved productivity;
Employees (Strandh, 2003) in companies already implementing work - life practices enjoy
significant benefits such as: Being able to effectively manage multiple responsibilities at home,
work and in the community without guilt or regret; Being able to work in flexible ways so that
earning an income and managing family/other commitments become easier; and Being part of a
at home, work and in the community. People with a good work-life balance are healthy
physically, emotionally and socially, and have a sense of control over their life. Ideas in action
for achieving Work-Life Balance: (a) Flexible start and finish times – start early and finish in
time to pick up the kids from school; (b) Scheduling meetings between 9am and 3pm. Flexible
working hours – including, job sharing, four-day weeks, nine-day fortnights, fixed-term work;
(c) Flexible work locations: tele-working, home-working; (d) Time banking – this means saving
up your work hours as “credits” to be taken later to fit in with home or other commitments; (e)
school-holiday programmes; (f) Study leave, leave without pay, career breaks; (g) Providing
information about government assistance programmes, and paid parental leave.; (h)
Supporting employees’ sport or cultural activities; (i) Supporting voluntary work as part of paid
work time; and (j) Maintaining contact with workers on parental leave and allow graduated
In social indicators research (Sirgy et al, 2001), two main sets of theories are used to explain the
relationship between quality of working life and life satisfaction: ‘spill over theories’ and
Maslow’s ‘needs hierarchy theories’. Spill over theories predict that satisfaction in one life
domain can ‘spill over’ into other life domains. This can occur in a horizontal direction – for
example, from satisfaction with work to satisfaction with health – or alternatively, in a vertical
direction as domains up and down the domain hierarchy can spill over into each other. Hence,
satisfaction with the work domain might affect satisfaction with life as the highest-level domain.
The second set of theories, needs hierarchy theories (Hajiran, 2006), postulates that there are
different levels of needs and that when one set of needs is satisfied, they are no longer important
in determining life satisfaction (or job satisfaction); instead, a higher set of needs come into play
once lower-level needs are satisfied. This means that survival needs (a decent salary and secure
job) take precedence, but once these are satisfied, social needs, ego needs (self-esteem and
autonomy) as well as self-actualisation become more important. The report will explore if these
It appears that the greatest problem (Jager et al, 2004) in relation to work–life balance is the
degree to which work negatively impinges on home life: the most common problem cited by
respondents is being too tired from work to carry out household tasks, followed by a clash of
responsibilities at the expense of family life, followed by the risk of poor work performance due
correlation between a country’s level of GDP and people’s work–life balance: respondents in the
less prosperous countries are more likely to cite problems with work–life balance than those in
Work-Family Conflicts
Work / family issues (Lu, 2006) are only beginning to gain attention in developing societies.
With the globalization of world economy, and being one of the Asian Tigers, India has attracted
a vast number of multinational companies to invest. In the spirit of free competition, employees
in India are becoming more than ever exposed to stressful western and industrialized work
situations. Mergers and acquisitions, new management styles, retrenchment, job insecurity are
now commonly found. With the rising proportion of females in the workforce, more and more
Indians are now caught between the demands of work and family.
Much evidence suggests that while some people are able to combine work and family life in a
satisfactory manner, others report high levels of stress in their attempt to reconcile these two,
often competing, spheres (Strandh, 2003). Furthermore, it is not unreasonable to expect that the
ability to successfully combine work and family responsibilities might well vary between men
and women, given their traditionally differing family responsibilities, as the pressure of childcare
or other caring responsibilities come to bear on both households and individuals at different
The ability to successfully (Fahey et al, 2003) combine work and family responsibilities is
particularly important in light of the Lisbon agenda, which aims to raise the participation rate of
women in the labour market in all countries. Thus, work–life balance may no longer be
considered as an exclusively private problem, but one of public policy. Indeed, improving work–
life balance, redefined as the participation of men and women in family life, has become a
European policy goal. This issue is addressed in this report by including work–family balance as
Carlson et al. (2002) further distinguished three forms of work/family conflict: time-based
conflict, strain-based conflict and behaviour-based conflict. Time-based conflict may occur when
time devoted to one role makes it difficult to participate in another role; strain-based conflict
suggests that strain experienced in one role intrudes into and interferes with participation in
another role; and behaviour-based conflict occurs when specific behaviours required in one role
are incompatible with behaviour expectation in another role. All the three forms are formulated
based on the role theory, which conceptualizes conflicts as reflecting incompatible demands on
the person, either within a single role or between multiple roles occupied by the individual.
The IT industry (Shah, 2006), being a knowledge-based sector, requires a workforce that is
highly competent. Also, the demanding nature of work in the industry requires effective
strategies to retain its workforce. With growing demand for Indian IT professionals overseas and
with multinational IT companies establishing their offices in India, retention becomes very
difficult. To handle the challenge, companies have started using a variety of retention tools such
as ESOPs and RSUs. They have also taken other initiatives like improving the work-life balance
Advancement: (extent to which they perceive that their job is giving them the opportunity for
Civilized treatment: (many organisations treat people in a brusque, even uncivilized way - it can
easily wipe out a great deal of effort by a human resources department in recruiting).
Employer commitment: (employers are genuinely committed to them and to their careers).
Praise: (Extending people praise where praise is due often requires a negligible amount of time
on the part of a manager or even energy, but the emotional benefits to the member of staff can be
enormous).
Support is available: (Employees like to feel that there is someone available to whom
The feeling of being challenged: (Eskildsen, 2006) (Employees like to feel challenged, given that
they believe they have the tools and skills to respond to the challenge successfully).
The feeling of being trusted: (Feeling trusted is a gratifying feeling because it makes
one feel a useful part of the team and confers significant status).
The feeling of working for a good and reliable organization: (People want to be proud
The feeling of working on useful assignments: (Feeling that one is doing a truly useful
The work/life balance is respected: (Employees know they are going to have to work hard, but an
India is also amongst the largest producer of finished and raw stone material
and the sector is quite developed and vibrant in South as well as in Rajasthan and
Gujarat, with a dedicated resource of entrepreneurs. India also has an indigenous
resource of machinery & tool manufacturers, which cater well to the demands of
this sector.
The Indian stone industry has evolved into the production and
manufacturing of rough blocks into polished granite slabs, tiles, calibrated - ready
to fix tiles, monuments, tomb stones, sculptures, artifacts, cobbles, cubes, kerbs,
pebbles and landscape garden stones.
While being the third largest exporter of stones in the world, India is also
amongst the largest consumers of stones and stone products. With a well-
established distribution network within India, the Indian stone industry caters well
to the domestic demand and rising aspirations of the burgeoning middle class of
India
THE MISSION
DEVELOP
PROMOTE
SUPPORT INDIAN STONE INDUSTRY
Mechanical and chemical tests are conducted on samples and results furnished
to the members from GSI, Hyderabad where the museum is set up so as to enable
the members to assess the quality of their products.
As already mentioned, AIGSA has been taking up the causes of the Industry
in general and the members in particular to the respective bodies for proper
solution. It is functioning as the authorised representative of Indian granite and
stone industry and holds talks with authorities and ministries at the state and
central level. It is also extending its activities at international level depending on
the issues cropping up from time to time.
M/s Vijay Krishna granites pvt. ltd., was started in the year 1988 by DR.D.L RAMESH
GOPAL who is the managing director of the company since its introduction. Initialy company
was started with 28 lacs financed by Karnataka state finance corporation(KSFC), Banglore,
promoters contribution of Rs10 lacs and a working capital of 5 lacs from Andhra bank(Total
Capital 0f Rs 43 lacs), Bellary with a work force of 9 personnel.
Today, after a period of 20 years the company has grown into a medium scale company
with an investment of 8.00 crores and with manpower of 140 personnel.
Initially the companies activities was limited to polishing granite slabs only.
Today the company produces granite slabs, tiles , monuments, tomb stones, markers, cobble, and
kerbs stones in 36 attractive Indian colours. The companies quality and wide range of colours has
been widely appreciated and presently the company is exporting fully furnished goods to
Singapore, Malaysia, Hong kong,Colomba, Kenya, Muscat, Mauritius, dubai, doha, Bahrain,
Kuwait, Isreal, Turkey, Cyprus, Greece, Holland, Lativia and USA. Almost 90% of production is
being exported. For the year 2007-2008 the forex earnings are expected to touch 70 million US
dollars.
The company has following appreciations in it’s account
1993 “ Conmat” Hubali
1994 “GDIFT” Govt of Karnataka
1994 “Best Industry Award” Govt of India
1995 “Buildmat” Davangere
1995 “ Sir.M.Vishweshwariah Award” Govt of Karnataka
1996 “ Sir.M.Vishweshwariah Award” Govt of
1997 “Capexil” certificate of merit Govt of India
1998 “Capexil” certificates of merit Govt of India
1999 “Capexil” certificates of merit Govt of India
Apart from the above, the company has been certified with ISO 9001:2000 by TUV, Germany
for quality management systems.
In order to achieve its Mission the Company is maintaining separate quality inspection
department where trained employees with latest available equipments like verneir and
Glossometer are used to monitor the quality.
The company has supplied goods to many prestigious hotels, palaces, villas and
community centers around the world.
The company is equipped with best of machinery produced in India, and it doesn’t
include any machinery which has been imported. The policy of the company is to import nothing
and export as much as possible it means it is export oriented company. The company is also
employing people of bellary only to develop the backward areas in bellary.
The Management has excellent relationship with overseas customers to find employment
in overseas for our sincere workers. Till to date more than 11 personnel are employed in different
middle east countries and another seven are scheduled to leave for overseas appointments.
The entire work force including managing director to unskilled worker wear a similar
uniform with a symbol of equality and brotherhood.
The managing director Dr.D.L.Ramesh Gopal a M.B.B.S graduate with 20 years of
medical practices has turned a tiny industry into a big medium scale industry.
He claims that 50% of his success due to excellent marketing stratergy and quality of their goods
and 50% from dedicated work force. Overseas customers prefer to buy goods from them because
of reliability, quality and in time shipment.
M/s Vijay Krishna group of companies which is situated in a bellary, being very far from
metros, faces severe problems for exports. Other problems include non-availability of rough
granite blocks in time.
VKG products.
The different types of good quality granites slabs that are manufactured in Vijay
Krishna Granites Pvt. Ltd are
• Cats eye.
• Black galaxy.
• Colombo juparana.
• Kashmire white.
• King cobra
• sira gray
• Tiger skin
• Kashmir gold
• Raw silk
• Lavender Blue
• Red multi colour
• Golden yellow
• Mist white
• Ruby Red
• Viscon white
• Black absoluto
Area of operation
Vijay Krishna Granites service has been widely spread across 4 continents and
about twenty countries. It has its establishment all over the regional, National and Global.
Infrastructure Facilities
• The centralized department of purchase, finance, marketing national/international.
• Infrastructure facilities are excellent all of excellent furniture cabin and air
conditioned black.
• Good tech based machines.
• All the manufacturing units are well equipped with highly sophisticated and
automated machines.
All these branches and departments are connected through telephone and laptop with
internet facility for better co-ordination.
Other Group Companies are:
• Krishna Stone – Tech Pvt. Ltd.
• Krishna Tiles & Monuments, Bellary
• Krishna Transnational Marbles Pvt. Ltd. Bangalore
STRATEGIC LOCATION:
This plant spreads over an area of 3 Acres of land. This key location
facilities easy sourcing of the world’s best granite from states of Orissa, Andhra
Pradesh, Kerala, Tamil Nadu and Karnataka.
KRISHNA STONE – TECH Pvt. Ltd. has grown into a large company and has
become popular in overseas market as one of the most reliable Indian Company for
polished granite.
The plant is equipped with best Indian Machinery having Installed capacity
of 1, 00,000 Sq. Mts. Per annum of granite slabs & Titles apart from monuments
and artifacts.
KRISHNA STONE – TECH’S services are spread across 4 continents and about
35 countries.
PRINCIPLES OF THE COMPANY
1. Import Nothing
2. Export everything
3. Importance to local personnel
4. Customer satisfaction
5. Qualitative product
PRODUCT PROFILE
KRISHNA STONE – TECH Pvt. Ltd. deals with the following plethora of
colors.
They even deal with elegance in Kitchen platforms and Vanity tops, also deal in
wide range of slates to choose from.
The above stated slates do not require polishing. They are just shaped into the
required angles and are ready for sale.
PRODUCTION DEPARTMENT
The major inputs required by the industry for production purpose include:
1. Stones
2. Kerosene
3. Polishing abbrasives
4. Power
The stone are the basic raw materials required by the company for production
and are purchased in Cubic Meter. Different types of stones are used for getting
different type of colors hence their cost per cubic meter also differs.
Each blade can be used for 19-20 times. The blade is available with
different diameters. The cost of the blade varies for different blades with different
diameters.
The 3 blades utilized by Krishna Stone – Tech are;
a. Blade with 2.2m diameter costing about Rs. 2 lakhs (1 machine)
b. Blade with 2.7m diameter costing about Rs. 4.5 lakhs (1 machine)
c. Blade with 3.5m diameter costing about Rs. 17 lakhs (1 machine)
The cost of each diamond tool is Rs. 1, 05,000 per set. The segments contained
in each blade is given as follows;
a) Blade with 2.2m diameter consists of diamond tool consisting 128
segments
b) Blade with 2.7m diameter contains 140 segments while,
c) Blade with 3.5m diameter contains 180 segments
After cutting every 18,000 Sq feet of stone the segments need to be changed.
Here it is to be noted that to cut black stone only water is used and for cutting
the other colored stones kerosene is used.
Step 3 :
After cutting the Cubic Stone into slabs, these slabs are again bought and stored
in the open space with the help of gantry. Now, these slabs are ready for polishing.
Step 4 :
In this section slabs are polished. The slabs are polished with the help of
machine having polythene bricks. Polishing is normally accompanied with heater
and also kerosene to retain the glow of the granite. Krishna Stone – Tech has 9
such polishing machines. Approximately polishing of 60 slabs per day takes place
in this company.
After this stage the slabs can be sold as such or processed further.
Step 5 :
Sand blasting stage or flaming stage. In this stage the slabs are polished such
that they become non – slippery. Non – slippery surface polishing is done using
sand blasting method or flaming method in which LPG gas cylinder is made use
of...
This type of polishing is exclusively done for bathrooms fitting etc.,
Step 6 :
After polishing (Sand Blasting / Flaming done on order basis) the next steps
is edge cutting and random cutting. The machine used for edge cutting has 2
parallel sliding blades which helps to give smoother finish along with a particular
sized tile say 11/11. This process is accomplished by kerosene so as to cool it and
give a proper finish.
The size of the blades of the machine is about 14 inches. Each blade costs
about Rs. 6500. One set of blade is used for every 14,000 Sq feet of granite slabs.
Krishna Stone – Tech has 4 edge cutting machines, each machine costs around Rs.
60,000 to Rs. 70,000. These machines are provided with filters so as to retain the
kerosene utilized during the process.
Boarding Machines (Hitachi S15) are also used for preparing certain other
accessories like Grinders, Basins, Pots etc.; these machines give the Granite a
hollow round shape. These accessories need a final polish and hence after cutting
of the granite into required accessory they are sending for final mirror polish.
This completes the production process of Krishna Stone – Tech Pvt. Ltd.
PRODUCTION PROCESS
Granite Stone
Cutting in to slabs
POLISHING
SAND BLASTING /
FLAMING
EDGE CUTTING
REQUIRED ACCESSORY
CUTTING
FINISHED PRODUCT
MANUFACTURING PROCESS
a) Primary sawing to split into sawn slabs.
b) Surface polishing
c) Edge cutting
d) Edge polishing, contour, chamfer and finish.
The blocks are first cut to slab of required thickness by using diamond circular
sawing machine. The surfaces sawn are fairly level and smooth. It is imperative to
maintain the machine’ running accuracy along with alignment of saw slice in order
to maintain the overall performance at optimum levels.
POLISHING:
The sawn slabs are loaded on polishing machines. Using silicon carbide abrasives
or diamond abrasives, the surface is leveled. Sufficient water should be supplied
and just sufficient pressure on the slab applied as required for the abrasive. Mirror
finish of the smoothened surface is obtained by the use of tin oxide powder and a
felt mob; buffing plates are available for this kind of finish. For polishing curved
surfaces portable tools using flexible papers of silicon abrasives are used. In many
cases resin bonded abrasives are also widely used. The polished slabs are next cut
to the required sizes on edge cutting machine using circular saw.
FINANCE DEPARTMENT
The most important thing that drives the customer towards the product is its
PRICE next to which are quality and company’s image. So, when a company
decides the price of the product it has to be really careful and not just quote any
price.
A major part of success of the company depends on the pricing policy of the
company. Because, if it fixes unreasonably high prices it is sure to loose its
customers while of the other hand of they fix relatively lower prices they may
become a loss making company. So it is of utmost importance that the price
quoted is fair, reasonable and covers the basic costs incurred for production of the
particular product and a reasonable percentage of profit.
The pricing policies followed by Krishna Stone – Tech Pvt. Ltd. Is shown
below.
Price of the product = Raw material or landing cost + Direct wages
+ Process costs + Power + other Direct Costs + indirect expense + % of
Profit.
a) REVIEW OF LITRATURE
Marketing deals with identifying and meeting human and social needs one
of the shortest definitions of marketing is “Meeting Needs Profitably”.
2) Product / Services:
Regarding particular product or how satisfied or dissatisfied is the target
market with what is currently available? What product features and benefits do
these consumers desire? How do they compare organization’s product with
those offered by competitions? When to introduce a new product / service?
3) Price:
How much value does the target market offer on the product in question?
What advantages in features, benefits or appears does the organization’s
products have, might allow it to charge a higher price.
4)Distributional:
What distribution channel is the target market most likely to use while
purchasing the product in question? Is the organization pricing in line with what
target market expects to pay for the product when purchased through the channel?
Will the channel be able to provide support needed for the product?
5) Promotion:
What can the organization vary in its advertisement about the product so that
it will appeal to the target market and induce them to consider the organization’s
product more attractive than those offered by the competitors? Through what
media should the organization advertise. How often should the advertisements
appear and how much money should the organization spend on marketing? Should
personnel selling be used, if so how? What kind of promotion would have a
favorable effect on the target market?
Exports Department
There is a manager Exports who is responsible for the exports department who is
assisted by the Asst Exe exports.
60
50
40
crores
30 S eries 1
20
10
0
2003-04 2004-05 2005- 2006-07
2006
ye a rs
It is usually given to a new employee at the time of joining and thus becomes a
necessary part of induction training.
Probation period
Working Hours
Lunch break
Paid holidays
Other bonds
Transfer
Termination
2. MONTHLY OR ANNUAL ALLOWANCES, DEDUCTIONS, ETC
PF
Bonus
Leave travel allowance
Medical allowance
Other declarations for TDS
ESIC
Statutory deductions
Pay Cheques
Other allowances
Sick leave
Casual leave
Leave during probation
Maternity leave
Leave application
Time register
Leave or absent intimation
Responsibility
6. REVIEW STRUCTURE
Increments
Promotions
7. TRAVEL, OUTSTATION OR LOCAL AND OTHER ALLOWANCES
8 SCHEMES
GSLI
EDLI
Paid holidays are declared as per the applicable act, at the beginning of the
calendar year. There are ten holidays in a year. These ten days include National or
state holidays as declared by the Government authorities and leave applied by
employee.
1.3 Working Hours:
As per the Provident Fund Act, the company will contribute 10% of the basic
salary and this will commence form 60 working days from the date of entry into
services or earlier as per the act.
(Means 12% employee, 1.1 % administration changes for P.F Office 0.01% are for
inspection charges)
2.2 Bonus
Bonus is paid as per the Bonus Act. These is paid a week before Dasara Festival.
A suitable notice is put up accordingly. And at every Dasara they provide 2 pair of
uniform since 1992.
The amount payable under this scheme is as per appointment letter. This is subject
to rules under Income Tax and the eligibility as specified in the appointment letter.
This is subject to the employee making proper written declaration evidence of
having expanded the amount during the leave travel. Otherwise the above amount
will be subject to taxation.
For first aid treatment V.K.G itself bear the charges and the pay for those
days, will also be given fully. And the workers who are suffering from injuries
will be sent to the KAMINENI NURSING HOME, BELLARY for treatment.
But, for the major accidents, ESI will provide the necessary amount for the
suitable treatment. If the treatment must be done in foreign countries, the injured
person and one companion will get the necessary payment, traveling charges,
operation (treatment charges, staying charges, will bared by ESI)
2.5 ESIC
Employees whose eligible salary is less than Rs. 7500/- per month the
company will provide the monthly premium as per the scheme envisaged
All the employees are expected to open a Bank account at the specified bank
or branch and inform the personnel department about the account number salaries
will be directly credited to the bank accounts.
Employees on probation are entitled to one-day leave per month for the
period of probation. The same shall be adjusted against casual leave on
confirmation.
The application for this leave should be given 8 weeks in advance, privilege
leave or any other leave cannot be clubbed with maternity leave. Incase of
miscarriage 6 weeks leave with pay is granted. For employees covered under ESI,
ESI rules will be applicable.
All employees will have to fill the in time and out time in the entry cards on
a daily basis. Habitual late coming will be treated with strict disciplinary action.
There will be a deduction of RS.25/- per hour.
4.2 Leave absence intimation:
4.3 Responsibility:
Each employee is responsible for the equipment, materials, cash, other items
such as telephone, computers, etc., under his charge.
REVIEW STRUCTURES
5.1 INCREMENTS:
5.2 There is no automatic promotion to the next grade on reaching the highest
salary in his grade.
The promotion to the next grade of designation is solely at the discretion of
the management depending upon the employee’s skills, experience, performance
and his specific contribution in the organization.
REMUNERATION
FINANCIAL NON-FINANCIAL
I Grade Executive and director level M.D and C.E.O Greater than or
Equal to 50,000/-
REMUNARATION: MODEL
II Grade Managerial Level Production Mang, Sales Managers
Marketing Managers, Senior Below 50,000/-
Supervisors
Salary:
The company is providing
Minimum salary –Rs.3500/- for worker
Minimum salary –Rs. 4000/- for staff
Advantages: 1) first hand knowledge and experience under the actual working
conditions.
2) The problem of transfer of trainee is also minimized as the person learns on the
job.
3) It includes job rotation, coaching, job instruction or training through step by step
and committee assignments.
Totally 122 including staff, skilled, semi skilled UN skilled employees and
workers are at present working.
Analysis and interpretation
SATISFIED
39% SATISFIED
DISSATISFIED DISSATISFIED
61%
Interpretation
TABLE-2
SATISFIED
45% SATISFIED
DISSATISFIED
DISSATISFIED
55%
Interpretation:
TABLE-3
Responses
Excellent Poor
12% 6%
Fair Poor
28% Fair
Good Satisfied
27% Good
Excellent
Satisfied
27%
Interpretation:
TABLE-4
Health care
Satisfaction Responses Percentages
levels
Poor 0 0
Fair 3 9
Satisfied 8 24
Good 7 21
Excellent 15 46
TOTAL 33 100%
Poor Fair
0% 9%
Poor
Excellent Satisfied
24% Fair
46%
Satisfied
Good
Excellent
Good
21%
Interpretation:
poor Fair
0% 18%
excellent poor
40% Fair
Satisfied
Satisfied
18% Good
excellent
Good
24%
Interpretation:
From this table it can be easily identified that what is the level of
satisfaction present in the organization in relationship with supervisors.
From table, it can be observed that the employees have ranked with
Excellent satisfaction.
TABLE-6
poor Fair
excellent 3% 12%
poor
33%
Satisfied Fair
18%
Satisfied
Good
excellent
Good
34%
Interpretation:
TABLE-7
Poor Fair
Excellent 0% 9%
Poor
33%
Fair
Satisfied Satisfied
34% Good
Excellent
Good
24%
Interpretation:
This diagram represents the flexibility of work hours in this
organization.
TABLE-8
Safety measures
Poor
excellent 0% Fair
27% 31% Poor
Fair
Satisfied
Good
TABLE-9
Welfare measures.
Poor
excellent
9%
24% Poor
Fair
21% Fair
Satisfied
Good
Good excellent
Satisfied
25%
21%
Interpretation:
TABLE-10
Support to family
excellent Poor
21% 9%
Fair Poor
18%
Fair
Satisfied
Good
Good excellent
28% Satisfied
24%
Interpretation:
TABLE-11
Interpretation:
Grievance handling
Satisfaction Responses Percentages
levels
Poor 1 3
Fair 2 6
Satisfied 4 12
Good 13 40
Excellent 13 39
TOTAL 33 100%
Poor Fair
3% 6% Satisfied
excellent 12% Poor
39% Fair
Satisfied
Good
Good excellent
40%
Interpretation:
Good Satisfied
21% Good
Satisfied excellent
46%
Interpretation:
Career planning
Interpretation:
TABLE-15
Poor Fair
excellent 6% 6%
Poor
33% Satisfied
18% Fair
Satisfied
Good
excellent
Good
37%
Interpretation:
The respondents ranked with 37% as good as per the
Recreation and Rest intervals are concerned.
TABLE-16
Legal issues
TABLE-17
Job security
Poor
Fair
6%
excellent 12% Poor
37% Fair
Satisfied Satisfied
15% Good
excellent
Good
30%
Interpretation:
Findings
employees.
o The company has to look at the legal affairs and it should be properly
implemented.
o The employees should be provided with job security to work in this
organisation.