Project Report On Vimal Oils And Foods Ltd. 236m70

PROJECT REPORT ON MODULE 5 DONE AT VIMAL OILS AND FOODS LTD. SUBMITTED TO: SOM-LALIT INSTITUTE OF BUSINESS MANAGEMENT MBA PROGRAMME

d to Gujarat Technological University Ahmedabad

DECLARATION WE, student of SOM-LALIT College of MANAGEMENT STUDIES, AHMEDABAD here by that the project report VIMAL OIL & FOODS LTD, AHMEDABAD, is a bonafide record

submitted

in

COLLEGE

of

SOM-LALIT

MANAGAMENT STUDIES and a record of original work done by us We also declare that this report has not been submitted previously by us, fully or partially to the college. Sign: Place: Ahmedabad

Date:

Project report submitted by: NAME

ROLL NO.

ENROLLMENT NO

SHAH VAIBHAVI

40

167780592116

SHAH VISHWA

42

167780592100

POKAR SUNAY

13

167780592072

PATEL NEEL

9

167780592066

RAVAL YASH

23

167780592081

SHARMA KHUSHBU

43

167780592102

Preface In todays era of cut throat competition MBAs are sure to have an edge over their counter parts. During Post graduation in business istration program, students come in a direct with the real corporate world through industrial training. An MBA program, provides its student with an in –depth study of various managerial activities that are performed in organization. A detail research/analysis of managerial activities conducted in various department, gives the student a conceptually idea. We have done industrial visit in “VIMAL OIL AND FOOD LIMITED” we have tried to collect some important data and interpreted it in the best possible manner and best of ability.

Acknowledgement This study will be incomplete without acknowledging our sincere gratitude to all those who have contributed insome way or other in completing this project report. We express a word of gratitude to the VIMAL OIL AND FOOD LIMITED for giving us an opportunity to conduct visit and given us rigorous information for this study. We would like to express heartiest thanks to Mr. Rajinder Nadha for providing such necessary information to complete our project.

LIST OF CONTENTS CHAPTER

CONTENT INTRODUCTION

Chapter 1

Introduction Research Problem Significance of the study Scope of the study Objectives of the study

Chapter 2

COMPANY PROFILE History Social Responsibility Vision Mission SWOT Analysis Organisational Structure

Chapter 3

COMMUNICATION Communication in vimal Internal communication External communication Barriers Overcomes of barriers

Chapter 4

MARKET BEHAVIOUR

Characteristics Competitors Chapter 5

ORGANISATION BEHAVIOUR Job satisfaction Scope of the study Primary data Secondary data Sampling Motivations Organisation Culture Academy culture Normative Culture

Chapter 6

LITERATURE REVIEW Theoretical Framework Definition of Literature Review

Chapter 7

RESEARCH METHODOLOGY Research Design Sample design Sampling area Sample method Data Collection Tools used for analysis Limitations of the study

Chapter 8

DATA ANALYSIS AND INTERPRETATION Interpretations ANOVA Findings Ratio Analysis of the org.

Chapter 9

Suggestions Conclusion Bibliography Annexure

Chapter 1 INTRODUCTION

RESEARCH PROBLEM Employee are the asset of any organization. It is through the employees. The organization achieves its objectives. It is very important from the organization point of view to keep them satisfied. The purpose of study is to understand the level of satisfaction among the employees to VIMAL OIL and suggest the area for improvement if any. A sample respondents of 40 on total population (employees) of Vimal oil and Food Limited. constitute the universe of study.

SIGNIFICANCE OF THE STUDY Employee satisfaction is an important aspect as far as an organization is considered. Employees are back bone of every organization. So it is responsibility of the management to keep the employees to contribute more. It is said that satisfied employees are more productive. So every organization is giving high priority to keep their employees satisfied by providing several facilities which improves satisfaction and reduce dissatisfaction. We want to know whether the employees in VIMAL OIL AND FOOD LTD. are satisfied or not. So I had to address the problem in my study.

SCOPE OF THE STUDY Job satisfaction is an important output that employees work for organization. It comprises of extrinsic and intrinsic factors and helps maintain an able and willing work forces. It is an interesting and significant area for conducting research. The study made on the topic of job satisfaction will reveal the factor of feeling of employees The report is useful to the management of the company to know the satisfaction levels of employees and they can take measures to increase productivity.

OBJECTIVES OF THE STUDY PRIMARY OBJECTIVE

• The primary objective of the research is to find employees’ satisfaction level of the organization. • Level of satisfaction regarding the physical condition of workplace & space.

SECONDARY OBJECTIVES

• To access the general attitude of the employees towards in VIMAL OIL AND FOOD LIMITED. • To understand the problem of the employees in the working condition. • To know how employees opinion about work place, pay and benefits. • To study and analyses the various factors affecting the job satisfaction level.

Chapter 2 COMPANY PROFILE {p.o.m}

History of the company Vimal Oil & Foods Ltd (VOFL), the flagship Company of Vimal Group commenced more than two decades ago in Mehsana, North Gujarat with its ed office at Ahmedabad . The modest refining capacity of 50 tons, with which we began THEIR jTHEIRney, has today evolved into a fully integrated, oil processing complex with seed crushing capacity of 200 TPD, solvent extraction capacity of 200 TPD and oil refining capacity of 300 TPD. Leveraging on the visionary entrepreneurial spirit and expertise garnered over these two decades, we have diversified into Edible oils and de-oiled cakes (VOFL is one of the largest exporters of De-oiled cakes ), Milk and Milk- Products, Electricals, Cables & Winding wires, Submersible Pumps, Paints and varnish, All Kind of Ceramic tiles and micro-minerals, Solar s & Solutions and Real Estate. Today we have extended THEIR presence in all major locations throughout the Country. Established in 1992, Vimal Oil & Foods Ltd ( VOFL), today one of the leading manufacturers of Refined Edible Oils in India. Its VIMAL range of refined oils – (Cottonseed, Groundnut, Soyabean, Sunflower, Corn and Mustard Oil) has already become a household name and assuming leadership status in most of the markets throughout the country. VIMAL LITE Table Margarine introduced a few year back has also been very well accepted by the consumer and the institutional customers alike and today it is among the leading brands of India. Vimal introduced Mayonnaise recently which is also picking up roots in many markets across the country.

Vision of the organization • THEIR vision is to be globally recognized company to produce and market the best worldclass quality food products by adopting worldclass latest enviornment friendly technology and to build strong brand loyal customerbase for the years to come plus to build trust and healthy relations among THEIR employees, THEIR investors, THEIR society.

Mission of the organization • Vimal oil is a leading edible oil and food product company in india and THEIR mission is to discover, develop, innovate and successfully reach each and every indian family with the best – pure healthy oils and food products to fulfill THEIR mission statement “ healthy u, happy u”. Social Resposibility of Vimal oil and food limited • Corporate social responsibility (CSR) refers to business practices involving initiatives that benefit society. A business's CSR can encom a wide variety of tactics, from giving away a portion of a company's proceeds to charity, to implementing "greener" business operation strategy to eradicate hunger & poverty includes action thereto:

1. help troubled families turn their lives around 2. reduce child poverty and make sure that children are properly ed so that they complete their education

3. make work pay, and help people to find and stay in work · help people recover and become independent if things have gone wrong

strategy to promote education :

1. 2. 3. 4. 5. 6.

formal and non‐formal education, adult education Scholarships for girls, merit scholarships and technical education for boys Distance education Girl child education Digital literacy / computer education Quality primary education

strategy to promote Healthcare & family welfare includes action thereto:

1. Mobile clinics — doctors' visits 2. General and multi-speciality medical camps, cleft lips 3. Reproductive and child health care, supplementary nutrition / mid‐day meal projects 4. Safe drinking water, sanitation — household toilets, community hospitals 5. HIV / AIDS, cancer, TB awareness and prevention camps 6. Blood donation

SWOT Analysis of Vimal Oil & Foods Limited. Strengths:  Vimal is one of the leading players in Gujarat, Rajasthan, Uttrakhand, Himachal Pradesh and Assam & NE and is a dominant player in Haryana, Panjab, J&K and Uttar Pradesh with a significant presence in Delhi, Chandigarh and Maharshtra.  A strong team of professionals and dedicated workers.  Strategic location of its plants – one at Kandla port and another in Mehsana helps in easy availability of raw material be it imported edible oils, local Edible oils or Milk for its associate company – Vimal Dairy Limited apart from easy availability of cheap and trained workers and labour.  Both Kandla and Mehsana being big industrial hubs, the connectivity – both road and rail is very good and there is easy availability of trucks apart from railway siding nearby.

Weaknesses:  Though Vimal is a leading player in Edible oils in most parts of the country yet it has to compete with players like Ruchi, Adani, Bunge and Cargill who have much deeper packets than Vimal.  A large part of market in India still not covered – Southern States, Goa, Orissa and Chattisgarh and only nominal presence in Maharashtra  Very low advertising and brand building activities specially outside Gujarat

Opportunities  The demand for edible oils ( Direct and Indirect consumption) is constantly growing in India and there are huge opportunities for Vimal to Grow.  With the spread of education and more disposable income there is possibility to grow sales of value added products like Rice bran oil, Sunlower oil and Olive oil.  The demand for Table margarine and spreads is also growing in India @ 10-15 % per annum though the maximum growth is in the institutional segment and mainly conversion from Table butter to Table Margarine and Spreads. Vimal being one of the dominant players in this segment as well has lot of growth potential in Rs. 300 crore per annum market.  The market for namkeens and snack foods is also growing in India in already strong Rs. 12000 crore plus market in India (including approx 50% in unorganized sector). Since namkeen and snack foods have almost 20% fat content there is opportunity for vimal to grow both in Namkeens and Snack food segment as well as in- house consumption of Edible Oils.

Threats  Since most of the edible oils are imported from other countries, the frequent fluctuations in the USD creates difficulty in timely purchasing.  The demand and supply of Edible oils is highly uncertain world over since cultivation depends mainly on weather even in developed countries.  Local crops yield has much more uncertainty than crops else where in the world and thus makes it difficult to make import decisions

specially during November – March i.e. the time during which maximum Indian Oil crops are harvested.  There is always a threat from low price completion from local players in different states, Re-packers, unscrupulous players who resort to tax evasion tactics and some players who resort to adulteration. They tend to disturb your growth speed. Even new entrants specially MNC’s resort to price tactics to capture market share in short span of period.

Organization Structure

Chapter 3 communication

Communication in Vimal oils and food ltd. •

Communication Strategy in an organization s Marketing Strategy which in turn must be in line with Business strategy of the company.

•

In the entire process the ultimate goal is generally making profit but customer must always be at the centre of all there actions in the entire organization.

•

For this they are communicating with all the departments and employees at all levels.

Internal communication in Vimal oils and food ltd. •

It refers to the exchange of information and ideas within an organization

•

In Vimal oils and food limited much information can be exchanged internally by:-

•

Phones, E-mails fax memos or company intranet, circuilers.

•

Internal communication is of 4 types

•

Vertical, Horizontal, Formal, informal communication

External communication •

Communication that takes place between a manager and external groups such as - suppliers, vendors, banks, financial institutes etc. For instance - To raise capital the Managing director would interact with the Bank Manager.

•

They are communicating with customers through direct marketing chanell using ment in print media and on television, radio..

•

They are using logos and slogans to build up their brands recognition.

Barriers of Communication in vimal oils and food ltd. •

Lack of message clearity

•

Language differences and the difficulty in understanding unfamiliar accents

•

Cultural differences.

•

Emotional barriers and taboos

Overcomes of such barriers •

Message must be simple and inspiring and easy to relate to and understand, work out crips and simple ways where every employees can connect their day to day efforts with corporate goals.

•

Educate all departments about market realities based an actual market customer insights. This will help generate new ideas to serve the customer better.

•

Regular communication with employees at all levels regarding progress against goals on daily, weekly/monthly basis

•

Constantly educate your employees. Make small groups and the process should be more of participative and not class room lecture

•

Recognize and reward individuals for good ideas – how so ever small it may be

•

Share your experiences with others to generate more ideas

Chapter 4 MARKET BEHAVIOUR

Vimal is the part of monopolistic market. Large no. of firms:In the market of oils and foods there are many firms are available for doing their business.in both field Vimal is having a large no. of competitors. Differentiated product:Vimal is having different product in oils and foods market. Price makers:In oils and foods market all are price maker no one is price taker. So that’s why vimal is also price maker. Non-price Compitition:price competition is not available in oils and foods industry. Because everyone have their own price according to their products availability in market.

COMPETITORS OF VIMAL    

Adani oils Gokul Agro Resource Sharp corps ltd. Gulab oils and foods ltd.

Market segment Vimal is basically oil and foods manufacturer. And the products of vimal is available in many different states of country.vimal is selling different oil and foods product in india.

Chapter 5 Organisational behaviour

5. Job satisfaction: Scope of the study:•

Job satisfaction is an important output that employees work for organization.

•

It is interesting and significant area for conducting research.

•

The study made on the topics of job satisfaction will reveal the factor of feelings of employees.

•

This report is useful to the management of the company to know the satisfaction levels of employees and they can take measures to increase productivity.

It comprise of extrinsic and intrinsic factors and help maintain an able and willing work forces.

Primary data : The primary data was collected from the respondents by istering a structured questionnaire and also through observation, interview & discussion with management.

Secondary data : •

Apart from primary data collected, the data collected through text book, academic reports and internet is used for the study.

Sampling:Sample population : There are totally 415 employees working in the organization.

sampling size : Out of total strength the sample taken among workers.i.e.40

Sample area : This research was carried on in corporate office.

• Sample method : the research was made by the survey in accordance to the convenience of the employees. So the sample type is convenient sampling

.

Motivations:Important of motivation : •

Motivation is important in business because it impacts mental and physical human reactions. Highly-motivated individuals and staff have a willingness to get the job done efficiently and effectively, resulting in higher productivity, increased revenue, cost savings and satisfied employees and business owners. Employees and staff with low motivation tend to work slower, without regard for productivity or efficiency, and end up costing the business money. Low motivation can be caused by a lack of direction or purpose, and can sometimes be reversed by the introduction of goals.

Factors of motivation: •

Skill Variety - the degree to which the job requires the use of different skills and talents

•

Task Identity - the degree to which the job has contributed to a clearly identifiable larger project

•

Task Significance - the degree to which the job affects the lives or work of other people

•

Autonomy - the degree to which the employee has independence, freedom and discretion in carrying out the job

•

Task - the degree to which the employee is provided with clear, specific, detailed, information about the effectiveness of his or her job performance.

Organization Culture:•

Corporate culture refers to the beliefs and behaviors that determine how company’s employees and management interact and handle outside business transactions. Often, corporate culture is implied, not expressly defined, and develops organically over time from the cumulative traits of the people the company hires.

Types of culture adopted by vimal: Academy Culture: •

Organizations following academy culture hire skilled individuals. The roles and responsibilities are delegated according to the back ground, educational qualification and work experience of the employees. Organizations following academy culture are very particular about training the existing employees. They ensure that various training programmes are being conducted at the workplace to hone the skills of the employees. The management makes sincere efforts to upgrade the knowledge of the employees to improve their professional competence. The employees in an academy culture stick to the organization for a longer duration and also grow within it. Educational institutions, universities, hospitals practice such a culture.

Normative Culture: •

In such a culture, the norms and procedures of the organization are predefined and the rules and regulations are set as per the existing guidelines. The employees behave in an ideal way and strictly adhere to the policies of the organization. No employee dares to break the rules and sticks to the already laid policies.

Chapter 6 LITERATURE REVIEW

THEORETICAL FRAMEWORK MEANING Employee satisfaction is a measure of how happy workers are with their job and working environment. Keeping morale high among workers can be tremendous benefit to any organization, as happy workers will be likely to benefit to any company. There are many factors for maintaining high employee satisfaction, which wise employers would do will to implement.

EMPLOYEE SATISFACTION To increase employee satisfaction, many companies will have mandatory survey or face to face meeting either employees to gather information. Both of these tactics have pros and cons and should be chose carefully. Surveys are often annoying allowing workers more freedom to be honest without fear. Interview with company management can feel intimating but if done carefully can let to workers know their voice has been heard and their concern addressed by those in changes. Surveys and meetings can truly got the centre of data surrounding employee satisfaction and can be great tools to identify specific problems leading to lowering morale. Many experts believe that one of the best ways to maintain employee satisfaction is to make workers feel they are part of the family or team. Holding Office Events such as parties and group outings can help close bonds among workers. Many companies also participate in team building retreats that are designed strengthen the working relationship of the employers in the non-working related settings. Company trips, pain ball wars and guided back parking trips are versions of this type of team building strategy, with which many employees have founded success. Of cTHEIRse, few will not experience a boost in morale after receiving more and many raises and bonuses can seriously affect employee satisfaction and should be given when possible. Yet money cannot solve all morale issues and of a company with wide spread problems for workers cannot improve their overall improvement, a bonus may be quickly forgotten as daily stress of an unpleasant job continuous to mount. If possible, provide amenities to yTHEIR workers to improve morale. Make sure they have a comfortable, learn, break, rooms which basic necessities such as a running mates keep facilities such as clean bathroom stocked with supplies. While professionalism is necessary for most business allowing workers to keep family photos or small trinkets on their desk can make them fed more comfortable and nested

at their workstation. Basic consideration like these can improve employee satisfaction, as workers will fed well asked for by their employers. The backbone of employee satisfaction in respect for workers and the job they perform. In every interaction with management, employees should be treated with cTHEIRtesy and interest. In easy avenue for employers to discuss problems, with upper management should be maintained and carefully monitored. Even if management cannot meet all the demands of employees. Showing workers that they are being heard and putting honest dedications into compromising will often help to improve morale.

IMPORTANCE OF EMPLOYEE SATISFACTION Purpose or benefits of employee satisfaction include as following, •

Enhance employee retention.

•

Increase productivity.

•

Increase customer satisfaction.

•

Reduce turnover, recurring and training cost.

•

Enhance customer satisfaction and loyalty.

•

Energetic employers

•

Improve team work

•

Higher quality products and or services due to more competent, energized employees.

ORGANISATIONAL DEVELOPMENT FACTORS •

Brand of organization in business field and comparison with leading competitor.

•

Mission and vision of organization.

•

Potential development of organization.

POLICIES OF COMPENSATION AND BENEFITS FACTORS •

Wages and Salary

•

Benefits

•

Rewards And Penalties

PROMOTION AND CAREER DEVELOPMENT FACTORS •

Opportunities for promotion.

•

Training program participated or will do.

•

Capacity of career development.

•

WORK TASK FACTORS •

Quantity of task.

•

Difficult level of task.

RELATIONSHIP WITH SUPERVISORS FACTORS •

Level of coaching

•

Level of assignment for employee.

•

Treatment of Employee etc.

WORKING CONDITION AND ENVIRONMENT FACTORS •

Tools and equipment.

•

Working methods

•

Working environment

CORPORATE CULTURE FACTORS •

Relationship with co-workers

•

Level of sharing etc...

COMPETITION PERSONALITIES AND EXPECTATION OF EMPLOYEE FACTORS •

Competencies and personalities of employee are suitable for job.

•

Expectations of employee are suitable for policies of organization.

DEFINITION OF SALARY Salary is a fixed amount or compensation paid to an employee by an employer in return for work performed. An employee who is paid a salary is expected to complete a whole job in return for the salary.

OVERTIME ALLOWANCE Overtime allowance in extra cash compensation for the hTHEIRs that employees work in excess.

DECISION MAKING Decision making involves the selection of a suitable action from among two or more possible alternatives in order to arrive at a solution to a problem.

PROBLEM SOLVING Grievance handling means help to solve a problem of the person who is in trouble and went some kind of help. It is to help such a person is a way that can give him justice to his satisfaction.

WELFARE FACILITY Employee welfare aims at providing such service facilities and amenities, which enables a worker to perform their employee well. An employee welfare facility consists of canteen, rest rooms, housing facility, medical facility, educational facility and transportation facility. This study helps to find out the various accretions facilities they are provided by the company.

TEAM WORK The process of working a group of people in order to achieve a goal.

TRAINING Training is the format and systematic modification of behaviTHEIR. Which occurs as a result of education, introduction development and planned experience.

JOB SECURITY It is the probability that an individual will keep his or her job. A job with a high level of job security in such that a person with the job would have a small chance of become employees.

EFFECTIVE COMMUNICATION Communication is a process in defined and shared between diving organisms. Communication requires a sender, a message and need not be present as aware of the seniors intent to communicate at the time of communication thus communication can occurs across vast distances in time and space. Communication requires that the communicating panics share an area of communication.

WORK SHCEDULE Employees work schedules vary from full fill time lo part time to job shares. All work schedules have one thing in common; the employee is doing work under an employer. Today's employers understand that flexibility is what employee requires in their work schedules. If they don't employers should beware.

LITERATURE REVIEW The history of job satisfaction stems back to the early 1900’s with the situations perspective on job satisfaction. This perspective states that satisfaction is determined by certain characteristics of the job and characteristics of the job environment itself. This view has been present in the literature since the first studies by Ha, Taylor and the various projects at the Western Electric plants in Hawthorne (Cranny, Smith & Stone 1992). These studies follow the assumption that when a certain set of job conditions are present a certain level of job satisfaction will follow. The Hawthorne Studies are considered to be the most important investigation of the human dimensions of industrial relations in the early 20th century. They were done at the Bell Telephone Western Electric manufacturing plant in

Chicago beginning in 1924 through the early years of the Depression. The Hawthorne plant created an Industrial Research Division in the early 1920’s. Personnel managers developed experiments to explore the effects of various conditions of work on morale and productivity (Brannigan & Zwerman 2001). “Today, reference to the “Hawthorne Effect” denotes a situation in which the introduction of experimental conditions designed to identify salient aspects of behaviTHEIR has the consequence of changing the behaviTHEIR it is designed to identify. The initial Hawthorne effect referred to the observation that the productivity of the workers increased over time with every variation in the work conditions introduced by the experiments” (Brannigan & Zwerman 2001). Simply stated when people realize that their behaviTHEIR is being watched they change how they act. The development of the Hawthorne studies also denotes the beginning of applied psychology, as we know it today. These early studies mark the birth of research on job satisfaction relating to ergonomics, design and productivity.

One of the most popular and researched measures of job satisfaction is the Job Descriptive Index (JDI). “The JDI is a 72-item adjective checklist type questionnaire developed by Smith, Kendall, and Hulin in 1969” (Gregson, 1991). This measure basis itself on five facets of job satisfaction. The first facet is the work itself, satisfaction with work itself is measured in of the core job characteristics such as autonomy, skill variety, , task identity, and task significance (Hackman & Oldham, 1975). Supervision, the second facet, is measured in such ways as how supervisors provide , assess employee’s performance ratings, and delegate work assignments. Co-workers, the third facet, are measured in of social , networking, and possible benefits attached to those relationships (Cranny, Smith & Stone, 1992). Pay, the fTHEIRth facet, is an important sTHEIRce of satisfaction because it provides a potential sTHEIRce of self-esteem as well as the generic opportunity for anything money can buy (Brockner, 1988). Obviously satisfaction with pay is measured primarily by current income but also by opportunities for salary increases. Promotion is the final facet and the one that the JDI explicitly assesses how perceptions about the future can affect job satisfaction. Today the facets of the JDI are generally assessed by modifying the adjective checklist and using a Likert scale on statements such as, “opportunities for advancement are plentiful” measured from one (strongly disagree) to five (strongly agree) (Cranny, Smith & Stone, 1992).

Another popular and highly researched measure of job satisfaction is the Minnesota Satisfaction Questionnaire (MSQ). The MSQ can be scored for twenty facets; scores from one question for each facet

provide a single overall composite score. The MSQ is commonly used in conjunction with the Minnesota Importance Questionnaire (MIQ). “These instruments were designed for use with adult career counselling clients with work experience. They are particularly useful for clients that might be called “career changers,” that is, adults with considerable work experience in one or more chosen occupations who are dissatisfied with their work and remain undecided about their career future” (Thompson & Blain, 1992).

A study conducted in Europe, Asia, Africa, and the Americas reported similarities among workers. “10,339 workers were surveyed across 10 European countries, Russia, Japan, and the United States. Researchers consistently identified the same top five key attributes in a job: ability to balance work and personal life, work that is truly enjoyable, security for the future, good pay or salary and enjoyable co-workers. Across the fTHEIR major geographic regions studied, workers specifically emphasized the importance of potential advancement and the opportunity to build skills as a way to maintain employability and job security” (Yankelovich Partners, 1998 p.42). A survey polling of the Association for Investment Management and Research found that 81% of the managers said they were satisfied or very satisfied with their job. When asked to identify the factors that create positive feelings about their job, most managers named professional achievement, personal or professional growth, the work itself and their degree of responsibility more important than compensation. Factors they viewed as creating negative feelings about their jobs were company policies, istration, relationships with supervisors, compensation and the negative impact of work on their personal lives (Cardona, 1996, p.9). In order to decrease some of these negative feelings and increase productivity it has been proposed to reduce the number of work days employees miss by increasing job satisfaction, redeg disability plans and involving supervisors in management (Maurice, 1998, p.13).

Other research indicates that customer satisfaction and loyalty are excellent predictors of profitability…the strongest predictors of customer satisfaction: employees’ general satisfaction with their jobs and employees’ satisfaction with their work/life balance” (McDonald & Hutcheson, 1999, p.18). Again it’s important to note that job satisfaction is subject to change. “Results of studies comparing differences between age groups and level of job satisfaction report an increases in job satisfaction with age” (Osipow, 1968).

“From an employee’s standpoint, job satisfaction is a desirable outcome in itself. From a managerial or organizational effectiveness standpoint, job satisfaction is important due to its impact on absenteeism (1) turnover, (2) and pro-social “citizenship” behaviTHEIRs such as helping co-workers, helping customers, and being more cooperative. (3) Thus, to redesign jobs, reward systems, and human resTHEIRce management policies that will result in optimum job satisfaction and productivity, managers need to know what employees value” (Karl & Sutton, 1998, p.515). In order to know what employees value it is necessary for organizations to assess and pay attention to current levels of job satisfaction. Current studies on job satisfaction are plentiful with some interesting results. In one study the relationship among career experience, life satisfaction, and organizational factors for managers of healthcare organizations is explored. Within this study a two-stage Delphi analysis of American College of Healthcare Executives (ACHE) identified nine domains of important job skills, knowledge, and abilities necessary for Success as healthcare managers. The nine domains, ranked in order of importance, are cost/finance, leadership, professional staff interactions, healthcare delivery concepts, accessibility, ethics, quality/risk management, technology, and marketing.

Chapter 7 RESEARCH METHODOLOGY

RESEARCH METHODOLOGY The data needed for the study is collected from the employees, through questionnaire. Analysis and interpretation has been done by using the statistical tools and data presented through tables and charts

RESEARCH DESIGN The study was based on survey method. The aim of the study is to find satisfaction levels of employees.

SAMPLE DESIGN A sample design is a definite plan for obtaining a sample from a given population. Convenience sampling method used in selected samples.

•

Sample Size: Out of the total strength, the sample 40 respondent.

• Sampling Area: The research was conducted at Vimal oil and food limited, Gujarat •

Sample Method:

The research was made by the survey in accordance to the

convenience of the employees. So the sample type is convenient sampling. Period of the study: study should be completed within in 10 days

Data collection •

For research about job satisfaction the data we have collected is the primary data

•

Primary data:

primary data was collected from the respondent by istering a

structured questionnaire and also through observation & discussion with management. •

Secondary data

: Apart from Primary data collected, the data collected through the

records of Vimal oil & food limited and internet is used for the study.

Tool used for analysis: • Measurements Scales: 1. Nominal or Classificatory Scale: Gender, ethnic background, eye colTHEIR, blood group 2. Ordinal or Ranking Scale: School performance, social economic class 3. Interval Scale: Celsius or Fahrenheit scale 4. Ratio Scale: Kelvin scale, weight, pulse rate,

respiratory rate

GRAPHICAL REPRESENTATION OF DATA Graphical Representation tool such as Bar Graphs and Pie Charts have been used for the data analysis.

LIMITATIONS OF THE STUDY  This is subjected to the basis and prejudices of the respondents, hence 100% of accuracy cannot be assured.  The research was carried out in a short span of time, where in the research could not widen the study.  The period of study was too short. So it was not possible to collect the relevant information with in that period.  The findings are based on the answers given by the employees, so any error or bias may be affect the validity of the finding

Chapter 8 DATA ANALYSIS AND INTERPRETATION

Level of satisfaction regarding organization environment Types

Respondent

Participative

17

Autonomy

8

Motivational

15

Interpretation From the above table we can say that 40% employees are highly satisfied and 20 % Satisfied 10 % are neutral. Employee's View regarding Motivational Programs Type

Strongly disagree

Disagree

Neutral

Agree

Strongly agree

Appreciation and reward

2

4

11

16

7

Involvement of employees in top management decision

4

6

10

15

5

Recognisatio

1

3

12

16

8

Interpretation : From the above table we can say that 45% of employees are agree and 25 % of employees are strongly agree, 20% employees are neutral 15% are disagree and 10 % are strongly disagree

Employee's Job Tenure Year

Respondent

0 to3

12

3to 5

14

5 to 7

9

More than 7

7

Anova: Single Factor SUMMARY Groups Salary Promotion Leave Motivational Talks Recognition Job Security

ANOVA STHEIRce of Variation

Count 40 40 40 40 40 40

SS

Sum 152 147 107 158 177 122

df

Average 3.8 3.675 2.675 3.95 4.425 3.05

MS

Between Groups Within Groups

80.27083333 125.525

5 16.0541667 234 0.53643162

Total

205.7958333

239

Hₒ: Rejected Ha : Factors are not Interdependent

Variance 0.625641 0.532692 0.840385 0.561538 0.404487 0.253846

F 29.9277

P-value 1.82E23

F crit 2.25262

Findings 

Majority of the employees know the overall goals of the company.



Most of employees are highly satisfied (88%) with motivational programmers provided by the company.



Only 16% of employees are dissatisfied with the leave and other conditions provided by the company.



Majority of the employees are dissatisfied with the chance to be involved and identified with the goal and image.



Majority of employees are satisfied with the allowances provided by the company.



Higher portion of employees are satisfied with the promotion and growth opportunities provided by the company.



Most of the employees always get a chance a part of decision making (60%).



Majority of employees satisfied (40%) with the good team exist in the organization.



Majority of employee’s opinion are the superior listen to their opinion and suggestion.



Only 16% of employees are not to get enough time to spend with yTHEIR family on leave occasion.



Most of employees satisfied (72%) the time of the job.



24% employees dissatisfied the training programmers conducted by the company.



Majority of employees have a good opinion about safety measures provided by institution (72%).



Most of employees get proper promotion and growth opportunities (68%).



Some of the employees had bad opinion about behavior and supper of management (8%).



Majority of employees satisfied (70%) the working relationship with their supervision.



Majority of employees satisfied the refreshment and recreation facilities.

RATIO ANALYSIS OF “VIMAL OILS AND FOODS LTD.” FOR LAST 3 YEARS

 Turnover Ratio The percentage of a mutual fund or other investment vehicle's holdings that have been turned over or replaced with other holdings in a given year. The type of mutual fund, its investment objective and/or the portfolio manager's investing style will play an important role in determining its turnover ratio.

1.Inventory Turnover ratio Meaning: The ratio measures the number of time an average company sells inventory during a period or it indicates the number of time the inventory is replaced in a year. Formula

Inventory Turnover = Sales/inventory

Inventory Turnover Ratio Investor turnover ratio 12.27

10.83 9.44

2014

2015

2016

Analysis

By stock turnover ratio we can analyze that in a year or in a period of time how many times inventory has been replaced in a company. Comparing the ratios as the financial year in 2014 was 10.83 and that in 2015 is 9.44. From this we can see that in 2015 ratio is low comparing to 2014 That means their turnover is low as compared to last 2014. The company has to place the order repeatedly.

2.Working Capital Turnover Ratio Meaning: Ratio measures the depletion of working capital to the generation of sales over a given period. This provides some useful information as to how effectively a company is using its working capital to generate sales. Formula Working

Capital

Turnover Net Sales

Ratio = NetWorkingcapital

WORKING CAPITAL TURNOVER RATIO 10.4 10.2 10 9.8 9.6 9.4 9.2 WORKING CAPITAL TURNOVER RATIO

2014

2015

2016

10.04

10.25

9.56

Analysis

Comparing the last 5 years of working capital in financial year 2014-15 working capital is the highest i.e. 10.25. This shows that the company is able to utilize more working capital and management is efficient. But currently the company is showing the lowest rate among last 3 years.

3.Debtors’ turnover ratio Meaning:  It is efficiency ratio or activity ratio that measures how many times a business can turn its s receivables into cash during a period. In other words, the s receivables turnover ratio measures how many times a business can collect its average s receivable during the year.  This ratio shows how efficient a company is at collecting its credit sales from customers

Formula

Debtors turnover ratio 7 6 5 4 3 2 1 0 2014 2015 2016

Debtors turnover ratio

2014 6.06

2015 7

2016 3.72

Analysis:

The debtor’s ratio in the year 2015 was 7 which decreased to 3.72 in 2016 which shows that the company is not able to convert their s receivable into cash in compared to previous 2 years.

4.Fixed assets Turnover ratio Meaning: This ratio shows how efficient are the company using money invested in the fixed assets.

Formula

Fixed assets Turnover ratio = Net Revenue Average Fixed Assets

Fixed Asset Turnover Ratio Fixed Asset Turnover Ratio 46.3800 36.2200

25.2700

2014

2015

2016

Analysis Comparing ratio in 2014 and 2015 there is vast difference between the two. The company is constantly on growth stage in this two years but than in 2016 there is big decline. This means that the company is earning very less interest on its fixed assets in current position.

 Profitability Ratio 1. Return on total Assets Meaning: Ratio that measures a company's earnings before interest and taxes (EBIT) against its total net assets. The ratio is considered an indicator of how effectively a company is using its assets to generate earnings before contractual obligations must be paid Formula EBIT Return on Total Assets = Total Net Assets

Return On Asset(ROA) 120.0000 100.0000 80.0000 60.0000 40.0000 20.0000 0.0000

-20.0000

2014

2015

-40.0000 -60.0000 -80.0000 Return On Asset(ROA)

2016

Analysis In the financial year 2014 ratio was less than as in 2015 it is 98.4 which is the highest among the ratio of last 3 years. But in 2016 is diminish to even a negative so we can say in 2016 vimal is not efficient in converting its assets into profit.



Solvency ratio A key metric used to measure an enterprise’s ability to meet its

debt and other obligations. The solvency ratio indicates whether a company’s cash flow is sufficient to meet its short-term and long-term liabilities. The lower a company's solvency ratio, the greater the probability that it will default on its debt obligations.

1.Debt Equity ratio Meaning: Debt Equity Ratio measures company's financial leverage calculated by dividing its total liabilities by stockholders' equity. It indicates what proportion of equity and debt the company is using to finance its assets. Formula Long term Debt Debt Equity ratio = Shareholders fund

Debt Equity Ratio Debt Equity Ratio

1.8100 1.5600 1.0000

2014

2015

2016

Analysis In financial year 2014 debt equity ratio was 1.81 which is the highest among the 3 years record. This shows that in this year the company had no enough money to finance its assets. In the tear 2016 it is 1.00 which is decreased from previous year. This shows the company had enough money to finance its assets.

Liquidity Ratio A class of financial metrics that is used to determine a company's ability to pay off its short- debts obligations. Generally, the higher the value of the ratio, the larger the margin of safety that the company possesses to cover shortterm debts.

Current ratio Meaning : The current ratio is a financial ratio that measures whether or not a firm has enough resTHEIRces to pay its debts over the next 12 months. It compares a firm's current assets to its current liabilities.

Current Ratio 1.0000 0.9000 0.8000 0.7000 0.6000

2014

0.5000

2015

0.4000

2016

0.3000 0.2000 0.1000 0.0000 2014

2015

2016

Analysis As we compare the current ratio in the year 2015 the ratio is highest i.e.0.90. From this we can say that the company has used their funds more efficientlyear ias compared to previous years. But not in last year.

Quick Ratio Meaning : The Acid-test or quick ratio or liquid ratio measures the ability of a company to use its near cash or quick assets to extinguish or retire its current liabilities immediately.

Formula Quick Ratio = Current Assets-Stock Current Liabilities

Quick Ratio

2.5000

Axis Title

2.0000

1.5000 1.0000 0.5000 0.0000

Quick Ratio

Quick Ratio 2014 1.1800

2015 0.9600

2016 2.4600

Analysis  If we see the ratios of the financial year 2014 it is slightly more than ideal ratio 1:1. And in the year 2015 the ratio decrease from the ideal ratio.  This means that in present scenario the company has double assests to pay liabilities.

CONCLUSION ON RATIO OF LAST 3 YEARS  Liquidity ratios of last 3 years, Current ratio has increased in the current year. Which suggest that company has more current assets against its current liabilities to pay its debt. That is good for the company and it is company's strength. Quick ratio of the company has decreased comparing to the financial year 2014 but it is near to the idle ratio which suggest company is efficient in paying its debt and it is a strength for the company.  Liquidity ratios of all the competitors current ratio of vimal is 1.39 which is better than almost all the 3 competitotrs in the market which shows that vimal has used their assets efficiently against their ability to pay liability is better than the other companies.  Looking at Return on total assets of the has decreased in the current year. The company's efficiency of using its assets to generate income has reduced. That is not good for the company. Return on equity shareholder's fund has reduced comparing to the previous year. That means company is not using its shareholders funds efficiently to generate profit.  Leverage ratios of the companies, Debt equity ratio of the company has reduced comparing to the previous year. Always the debt equity ratio shall be less else this will demotivate the investors to invest in the company. This is good for the company. So The company may not suffer from less capital from the public. The ideal ratio shall be 2:1.  Turnover ratios of the companies, Stock turnover ratio of the company has increased in the current year. Which means companies sales has increased and it is making enough profit as compared to previous years .This shows that the company is selling quickly and that little unused inventory is being stored.but in comparison to 2014 the current years ratio is low.

 Companies Working Capital Turnover ratio in the current year is lowest among all the 3 years. This measure the amount of capital invested in the resTHEIRces that are subject to quick turnover.  Debtors turnover ratio of the company has Decreased in the current year for VIMAL. That means is not able to pay its debtors efficiently and is not able to pay the debtors properly.

CHAPTER 9

SUGGESTIONS  Management have to make effective communication channels in the firm.  Management should take remedial measures to improve general working condition of the firm there by employees will be satisfied in their job.  Management should take proper care to maintain employee-employer relationship.  Proper guidance and counseling should be provided to the employees so that their mental satisfaction can be improved.  Management should provide proper safety measures in the organization, so the employees will be secured in the job.  Management should provide promotional facilities to the employees then only they will be motivated in the job.  Management should provide proper leave to the employees.  Management should take effective welfare measure-s to meet industry standards.  Management should provide more opportunities to employees in order to participate in decision making

Conclusion: From the analysis conclude that the job provides the opportunity to the employees to exercise his/her skill at work place. Number of the employees aqccepted that at times there is considerable flexibility in co ordinating with work and they are satisfied with the existing inters personal communication.  In vimal oil & food limited they follow the systematic planning and review process to evalute the performance of employee.  From the analysis conclude that the job provides the opportunity to the employees to exercise his/her skill at work place. Number of the employees aqccepted that at times there is considerable flexibility in co ordinating with work and they are satisfied with the existing inter personal communication.  In vimal oil & food limited they follow the systematic planning and review process to evalute the performance of employee.

BIBLIOGRAPHY:WWW.VIMALOILS.COM WWW.MONEYCONTROL.COM WWW.WICKYPEDIA.NET MANAGEMENT (JAMES A. F. STONNER) (Perason) ( 6th Eidition)

Annexure  QUESTIONNAIRE.