KEERTHANA PJ

XII

PROJECT-1

PRINCIPLES OF MANAGEMENT

AUTHORITY AND RESPONSIBILITYThe issue of commands followed by responsibility for their consequences. Authority means the right of a superior to give enhance order to his subordinates; responsibility means obligation for performance. This principle suggests that there must be parity between authority and responsibility. They are co-existent and go together, and are two sides of the same coin. and the authority must be commensurate with responsibilityDIVISION OF WORK The specialization of the workforce according to the skills of a person , creating specific personal and professional development within the labour force and therefore increasing productivity; leads to specialization which increases the efficiency of labour. By separating a small part of work, the workers speed and accuracy in its performance increases 

DISCIPLINEDiscipline refers to obedience, proper conduct in relation to others, respect of authority, etc. It is essential for the smooth functioning of all organizations. This will also help shape the culture inside the organization.UNITY OF COMMANDThis principle states that every subordinate should receive orders and be accountable to one and only one superior. If an employee receives orders from more than one superior, it is likely to create confusion and conflict . Unity of Command also makes it easier to fix responsibility for mistakes and the authority should be commensurate with responsibilityUNITY OF DIRECTIONAll those working in the same line of activity must understand and pursue the same objectives. All related activities should be put under one group, there should be one plan of action for them, and they should be under the control of one manager. It seeks to ensure unity of action, focusing of efforts and coordination of strength.

SUBORDINATION OF INDIVIDUAL INTERESTThe management must put aside personal considerations and put company objectives first. Therefore the interests of goals of the organization must prevail over the personal interests of individuals.REMUNERATIONWorkers must be paid sufficiently as this is a chief motivation of employees and therefore greatly influences productivity. The quantum and methods of remuneration payable should be fair, reasonable and rewarding of effort.

THE DEGREE OF CENTRALIZATIONThe amount of power wielded with the central management depends on company size. Centralization implies the concentration of decision making authority at the top management. Sharing of authority with lower levels is called decentralization. The organization should strive to achieve a proper balance.

SCALAR CHAINScalar Chain refers to the chain of superiors ranging from top management to the lowest rank. The principle suggests that there should be a clear line of authority from top to bottom linking all managers at all levels.. It involves a concept called a "gang plank" using which a subordinate may contact a superior or his superior in case of an emergency, defying the hierarchy of

ORDERSocial order ensures the fluid operation of a company through authoritative procedure. Material order ensures safety and efficiency in the workplace. Order should be acceptable and under the rules of the company

EQUITYEmployees must be treated kindly, and justice must be enacted to ensure a just workplace. Managers should be fair and impartial when dealing with employees, giving equal attention towards all employees.

STABILITY OF TENURE OF PERSONNELThe period of service should not be too short and employees should not be moved from positions frequently. An employee cannot render useful service if he is removed before he becomes accustomed to the work assigned to him.INITIATIVEUsing the initiative of employees can add strength and new ideas to an organization. Initiative on the part of employees is a source of strength for organization because it provides new and better ideas. Employees are likely to take greater interest in the functioning of the organization.

ESPRIT DE CORPSThis refers to the need of managers to ensure and develop morale in the workplace; individually and communally. Team spirit helps develop an atmosphere of mutual trust and understanding.

KOTAK MAHINDRA BANK

Kotak Mahindra Bank is the fourth largest Indian private sector bank by market capitalization, headquartered in Mumbai, Maharashtra. The Bank’s registered office (headquarter) is located at 27BKC, Bandra Karla Complex, Bandra East, Mumbai, Maharashtra, India.In February 2003, Kotak Mahindra Finance Ltd, the group's flagship company was given the license to carry on banking business by the Reserve Bank of India (RBI). Kotak Mahindra Finance Ltd. is the first company in the Indian banking history to convert to a bank.As on Sept 30, 2014, Kotak Mahindra Bank has over 641 branches and over 1,159 ATMs spread across 363 locations in the country.

Kotak Mahindra group, established in 1985 by Uday Kotak, is one of India’s leading financial services conglomerates. In February 2003, Kotak Mahindra Finance Ltd. (KMFL), the Group’s flagship company, received a banking license from the Reserve Bank of India (RBI). With this, KMFL became the first non-banking finance company in India to be converted into a bank – Kotak Mahindra Bank Limited (KMBL).

In a study by Brand Finance Banking 500, published in February 2014 by the Banker magazine (from The Financial Times Stable), KMBL was ranked 245th among the world’s top 500 banks with brand valuation of around half a billion dollars ($481 million) and brand rating of AA+. KMBL is also ranked among the top 5 Best Ranked Companies for Corporate Governance in IR Global Ranking.[4]

PRINCIPLES OF MANAGEMENT USED BY KOTAK MAHINDRA

Division of workAt Kotak Mahindra bank there are different people employed for this purpose. There are different employees for accepting cash deposits, clearing cheques, granting loan etc., each employee is guided by the branch operation manager, branch manager or by the next senior person to that employee.

Authority and responsibilityAt Kotak Mahindra Bank there are 2 verticals to follow this principle. The first one is the imputer and the second is the authorizer. The imputer enters the details of each and every transaction and the authorizer simultaneously checks and verifies the transaction. Both the imputer and the authorizer have been given the authority according to their work which leads to completion of work on time.

DisciplineAt Kotak Mahindra Bank there is a very strict discipline check. The Branch Operations Manager checks the disciplinary level of all the employees in the branch and also checks that the employees are working systematically. The BOM also motivates the employees.

Unity of CommandAt Kotak Mahindra Bank on a macro and micro level again there are two departments. The first one is the sales department and the other is the operation department. Each of these departments has got 8-10 team members and a head to whom all the members will have to report about the activities carried by each of them. The Branch Sales Manager and The Branch Operations Manager both will report about the activities carried out by their departments to the Branch Manager. And the Branch Manager will report to the head of the zone. The orders to each of these heads are given by their seniors only.

Unity of DirectionAt Kotak Mahindra Bank the main aim of the employees of the bank is to satisfy the needs of its customer’s .For this purpose the bank has prepared different types of policies, accounts and directs all the efforts of their employee towards the achievement of the organizational goal as well as towards the achievement of customer satisfaction.RemunerationAt Kotak Mahindra Bank the salary paid to the employees are paid according to the Minimum Wage Act of Government, by comparing the salary given to other employees working at same post. The bank also compares the performance of the employees to determine their salary.

Principle of orderAt Kotak Mahindra Bank the bank has developed a system known as ‘OUTLOOK.’ It helps the employees to know about the other employees of the organization. An employee will also know about the contact details of another employee, and can also know about the employees working under that employee. Every asset of the organization has got a proper place in the bank and every employee has fixed place in the bank.

Principle of equityAt Kotak Mahindra Bank every employee are equally treated. There is no gender bias between any employees. The rules that are applicable to a male employee are also applicable on female employees as well. The bank grants leaves to the employees without any gender bias, the bank have the same leave policy for both male and female workers.

Stability of tenureAt Kotak Mahindra Bank the employees are assessed on a monthly basis. The manager after proper assessment warns the employees whose performance is low and gives them a chance to improve their performance. But if the performance is not improving than the employees are sent for training known as Performance Improvement Plan (PIP).There are certain levels fixed for termination of an employee by the manager as well as the Human Resource Department of the company.

Principle of initiativeAt Kotak Mahindra Bank in every quarter there is a meeting held by the state head and managers in which employees are invited to give their suggestions. In this meeting the management discusses about the goals of the bank to be achieved and new plans and rules that are to be implemented. The employees are invited to give their suggestions about the existing policies and the new policies that the company will be introducing

Espirit de corpsKotak Mahindra Bank is working on this principle only. The employees of the bank work in a team and contribute all their efforts towards the achievement of organizational goal. An employee in the training process is given training to work as a team and develop a feeling of belongingness towards the organization.

PROJECT-2

MARKETING MANAGEMENT

What is MARKETING?

The term Marketing is defined as a social and managerial process by which individuals and groups obtain what they need and want through creating, offering and exchanging products of value with others” is known as Marketing. Marketing is the methodology of communicating the value of a product or service to customers, for the purpose of selling that product or service.Marketing techniques include choosing target markets through market analysis and market segmentation, as well as understanding consumer behavior and advertising a product's value to the customer. From a societal point of view, marketing is the link between a society's material requirements and its economic patterns of response. Marketing satisfies these needs and wants through exchange processes and building long-term relationships. Marketing blends art and applied science (such as behavioral sciences) and makes use of information technology.

Marketing Mix

The marketing mix is a business tool used in marketing and by marketers. The marketing mix is often crucial when determining a product or brand's offer, and is often associated with the four P's: price, product, promotion, and place.

ProductA product is seen as an item that satisfies what a consumer demands. It is a tangible good or an intangible service. Tangible products are those that have an independent physical existence.

PriceThe amount a customer pays for the product. The price is very important as it determines the company's profit and hence, survival. Adjusting the price has a profound impact on the marketing strategy, often it will affect the demand and sales as well. PromotionAll of the methods of communication that a marketer may use to provide information to different parties about the product. Promotion comprises elements such as: advertising, public relations, personal selling and sales promotion.PlaceRefers to providing the product at a place which is convenient for consumers to access.

TOOLS OF MARKETING MIX

MY PRODUCT

FRESHNESS TALC

PRODUCT PORTFOLIO

Product name: Freshness TalcType of product: CosmeticPrice of Product: 40/-Established year: 2014Created by: Keerthana group of companies pvt ltdInvestment: 4.5 crores

LOGO

Features of Freshness Talc

Freshness Talc is the first-of-its kind talcum powder in the form of a spray. It is attractive, easy to use and very light on your pocket.

TAGLINE

FRESHNESS TALC ------- SRAY THE TALC OF FRESHNESS

• Awakens the skin• Lightens the skin• Acts as a deodorant• Organically created• Pleasant fragrance

IngredientsPudina, common thyme, lavender ,evening primrose, chamomile, rose, hydrated silica, calcium carbonate, camphor, menthol, water.

CostFreshness Talc is priced at Rs 40/- including the cost and profit . It can be afforded by all classes of people.

PROMOTION

Freshness talc was first advertised on TV , newspaper and fashion magazines .The product was also promoted by our marketing team by adopting the method of personal selling. The consumers were given a sample of freshness talc and it received a great response due to the unique feature of spraying. A page was created on Facebook and Twitter to know the feedback of customers so that the product can be improved.

COMPETITORS

CintholStarted in 1952, Cinthol was India’s first deodorant and complexion soap brand. Since the beginning, Cinthol has been evoking confidence and freshness in its users.It has introduced a completely new range of soaps, talcs, deos and shower gels, in novel variants with striking colourful packaging. It’s a brand that today’s youth can relate to; one that’s inspiring, courageous and simply awesome.Pond’sPond's is a brand that has been carefully nurtured by HUL. Till 1980'sPond's were a household name in talcum powders. Pond’s have a market share of around 65% in the 600 crore Indian talcum powder market.

Mysore sandalMysore sandal is a brand of power manufactured by the Karnataka Soaps and Detergents Limited (KSDL), a company owned by the Government of Karnataka in India. This soap has been manufactured since 1916 when Nalvadi Krishna raja Wodeyar, the king of Mysore set up the Government Soap Factory in Bangalore. The main motivation for setting up the factory was the excessive sandalwood reserves that the Mysore Kingdom had which could not be exported to Europe because of the First World War.Yardley of LondonThe company is named after William Yardley,he company became Yardley & Statham in 1841 when Charles Yardley, the son of William, took on William Statham as a partner in the business. At the time, the business sold perfumes, soaps, powders, hair pomades and other toiletries.

EmamiEmami launched “Navratna Cool Talc” in 2006, the first brand extension of its flagship brand “Navratna Oil”, which is the market leader in Cool Oil category.Navratna Cool Talc truly brings the much-required cool and icy sensation in the scorching summers.

CONCLUSION

The Freshness Talc has created a wave in the market. The sales is around 5 crores . The company is also planning to introduce different varieties of Freshness Talc as the consumershave accepted the product due to its innovation. We have plans of exporting our productas well. Freshness Talc has given a strong competition to all the competitors in India.