Corrected Final Copyf_project Report Motivational Technics

A

PROJECT REPOERT

ON

“MOTIVATIONAL THEORIES USED IN INSURANCE SECTOR”

BHARTI AXA LIFE INSURANCE, NAGPUR

A SUMMER INTERNSHIP PROJECT FOR PARTIAL FULFILMENT OF REQUIREMENT OF

MBA [BUSINESS APPLICATION]

2008-2010

SUBMITTED BY,

MISS. NEERU R. YADAV

UNDER THE GUIDANCE OF

MISS. RIDDHI DESHPANDE

CENTUM LEARNING CENTER, NAGPUR

AFFILIATED BY ANNAMALAI UNIVERSITY, CHENNAI

CENTUM LEARNING CENTER, NAGPURAFFILIATED BY ANNAMALAI UNIVERSITY, CHENNAI

CERTIFICATE

I here by certify that this project report entitled “MOTIVATIONAL THEORIES USED IN INSURANCE SECTOR” in BHARTI AXA LIFE INSURANCE, NAGPUR” submitted by Miss. Neeru Yadav to Centum Learning Center [CLC], Nagpur is bonafied and original research work carried out under my guidance and supervision. It is a peace of research of sufficiently high standard to warrant its submission to college for the award of said degree.

No part of the thesis has been submitted any degree or diploma or published in any other form. The assistance and the help rendered during the course of her investigation in the form of basic source material and the information have been duly acknowledged.

Date:

Place:

Project Guide[Miss. Riddhi Deshpande]

Director[Mr. Sanjay Choure]

Project In charge[Mrs. Smita

Choure]

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CENTUM LEARNING CENTER, NAGPURAFFILIATED BY ANNAMALAI UNIVERSITY, CHENNAI

ACKNOWLEDGEMENT

I present this project report on “MOTIVATIONAL THEORIES USED IN INSURANCE SECTOR” in BHARTI AXA LIFE INSURANCE, NAGPUR with a sense of great pleasure and satisfaction. I undersigned with pleasure take this opportunity to thank all those related directly or indirectly in preparation of this project report.

I started working on this project under the invaluable guidance of Honorable Miss. Riddhi Deshpande mam for which I am very much thankful for her valued time given for the purpose. Without her co-operation my project work would have been difficult to complete.

I express my sincere thanks to Mr. Chandan Sharma sir [sales manager] in Bharti Axa Life Insurance, Nagpur and the clerical staff in that organization. I am also thankful to Mr. Sanjay Choure sir [Director of our college] and Mrs. Smita Choure [Project In charge] to allow me to carryout this project.

Date:

Place:

Miss. Neeru Yadav

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CENTUM LEARNING CENTER, NAGPUR

AFFILIATED BY ANNAMALAI UNIVERSITY, CHENNAI

DECLARATION

I undersign the students of MBA [Business Application] hereby declare that the project report entitled “MOTIVATIONAL THEORIES USED IN INSURANCE SECTOR” in BHARTI AXA LIFE INSURANCE, NAGPUR is my own work and completed by me, which is based on my own work experience during Summer Internship training period, I am submitting this report for partial fulfillment for the degree of MBA [B.A.], conducted by Centum Learning Center, Nagpur Affiliated by Annamalai University, Chennai.

I have not submitted this project report for fulfillment of any examination in any college or University for any degree or diploma.

Date:

Place:

Miss. Neeru Yadav

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“MOTIVATIONAL THEORIES USED IN INSURANCE

SECTOR”

BHARTI AXA LIFE INSURANCE, NAGPUR

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CONTENT

SR. NO. TOPIC PAGE NO.

CHAPTER 1 COMPANY PROFILE1.1 Bharti-AXA Life Insurance1.2 Bharti Enterprise1.3 AXA Financial Services

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CHAPTER 2 PROJECT INTRODUCTION

2.1 Project Introduction

2.2 Meaning of Motivation

2.3 Definitions of Motivation

2.4 Motivation Cycle Process

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5CHAPTER 3 PROJECT RESEARCH

3.1 Importance of Motivation

3.2 General Theories of Motivation

3.3 Theories used in Insurance Sector

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15CHAPTER 4 THEORIES USED IN BHARTI-AXA

4.1 McClelland Theory in Bharti-AXA

4.2 Performance Appraisal

4.3 Employees Empowerment

4.4 Barriers to Empowerment

4.5 Customer Relationship[CR]

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19CHAPTER 5 DATA ANALYSYS AND INTERPRETATION

5.1 Data Analysis 20CHAPTER 6 TRAINING CONCEPTS

6.1 Insurance

6.2 Share Market

6.3 Mutual Fund

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48CHAPTER 7 FINDINGS

7.1 Findings

7.2 Competitors of Bharti-AXA50

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CHAPTER 8 SUGGETIONS AND CONCLUSION

8.1 Suggestion

8.2 Conclusion50

50CHAPTER 9 BIBLIOGRAPHY 51CHAPTER 10 ANNEXURE 52

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CHAPTER 1Company Profile

1.1 BHARTI-AXA LIFE INSURANCE Bharti-AXA Life Insurance is a joint venture between Bharti, one of India’s leading business groups with interests in Telecom, Agri Business and Retail; and AXA, world leader in Financial Protection and Wealth Management. Bharti Group holds 74% of equity and AXA holds 26% of the equity.

The company incorporated on 13th July 2007. Headquartered in Bangalore and registered office is at “Bharti AXA Life Insurance Ltd, Unit 601 and 602, 6th Floor, Raheja Titanium, Off Western Express Highway, Goregaon [East], Mumbai:440063”. The company currently has 203 branches across India. With a vision to become the leader and preferred company for financial protection in India, Bharti AXA General Insurance offers its customers - individuals and businesses- a wide range of products and services that meet their insurance needs. Mr. Nitin Chopra [CEO], Priya Ranjan [Director-HR], Shymal Saxena [Chief Distribution and Marketing Officer]. The company will leverage the Bharti Group’s large customer pool and develop a strong multi channel distribution network in both urban and rural markets.

1.2 BHARTI ENTERPRISESCompany Background: Mr. Sunil Bharti Mittal [Chairman and MD of Bharti Group of Industries] got interested in push button phones while on a trip to Taiwan, and in 1982, introduced the phones to India,

replacing the old fashioned, bulky rotary phones that were in use in the country then. Bharti Telecom Limited (BTL) was incorporated and entered into a technical tie up with Siemens AG of Germany for manufacture of electronic push button phones. By the early 1990s, Mittal was making fax machines, cordless phones and other telecom gear. Presently this company is leading in Telecom Industry, awarded as Best Employer in year 2004.

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The turning point came in 1992 when the Indian government was awarding licenses for mobile phone services for the first time. One of the conditions for the Delhi cellular license was that the bidders have some experience as a telecom operator. Mittal clinched a deal with the French telecom group Vivendi. Two years later, Sunil secured rights to serve New Delhi. In 1995, Bharti Cellular Limited (BCL) was formed to offer cellular services under the brand name AirTel. Within a few years Bharti became the first telecom company to cross the 2-million mobile subscriber mark. The company is also instrumental in bringing down the high STD/ISD, cellular rates in the country by rolling the countries first private national as well as international long-distance service under the brand name IndiaOne. In 2001, the company entered into a joint venture with Singapore Telecom International for a $650-million submarine cable project, the countries first ever undersea cable link connecting Chennai in India and Singapore.

Fig 2.1 Bharti Enterprises

Bharti Enterprises: Bharti Enterprises has successfully focused its strategy on telecom while straddling diverse fields of business. From the creation of ‘Airtel’, one of India’s finest brands, to becoming the largest manufacturer and exporter of world class telecom terminals under its ‘Beetel’ brand, Bharti has created a significant position for itself in the global telecommunications sector. Bharti Airtel Limited is today acknowledged as one of India’s finest companies, and its

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flagship brand ‘Airtel’, has over 10 million customers across the length and breadth of India.

While a joint venture with TeleTech Inc., USA marked Bharti’s successful foray into the Customer Management Services business, Bharti Enterprises’ dynamic diversification has continued with the company venturing into telecom software development. Recently, Bharti has successfully launched an international venture with EL Rothschild Group owned ELRO Holdings India Ltd., to export fresh Agri products exclusively to markets in Europe and USA.

1.3 AXA FINANCIAL SERVICES AXA Group Profile: Henri de Castries, Chairman of the AXA Group's Management Board. Having 80 Million Clients, 214044 employees, 400,000 Shareholders and Revenues of €91.2 billion in 2008*. *(International Financial Reporting Standards)

AXA Vision: Help clients be life confident: this is how to see business and how it should be done.

AXA Strategy: Attain leadership in every one of our markets through operational excellence.

AXA Brand: Do business worldwide under a global brand name.

Local AXA: Key markets located in Europe, North America and Asia Pacific.

Corporate Profile: Bharti AXA Life Insurance is a joint venture between Bharti, one of India’s leading business groups with interests in telecom, agri business and retail, and AXA, world leader in financial protection and wealth management. The joint venture company has a 74% stake from Bharti and 26% stake of AXA. The company launched national operations in December 2006. Today, they have over 8000 employees across over 12 states in the country and a national footprint of distributors trained to provide quality financial advice and insurance solution to the large Indian customer base. An AXA financial service is largest in the insurance industry (in terms of revenue).

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CHAPTER 2PROJECT INTRODUCTION

2.1 PROJECT INTRODUCTION

In service industry the best soft skills of employees can improve the productivity and not the physical capabilities. And the soft skills of employees can be improved by triggering motivation. The motivation of an employee can be defined as his willingness towards his responsibilities, work and job. The motivation can be internal motivation and external motivation for an individual. The internal motivation is the motivation done by an individual to himself by his/her own thinking process whereas the external motivation is done by an individual to the other individual or group of individuals by passing certain comments of doing some activities. The external motivation can also be classified as monetary or non-monetary motivation. Only one kind of motivation technique can not be used for long time for an individual as the need and expectations of an individual from company gets changed after some interval of time. To motivate an individual or group of individual at different level of management scientists have developed different theories of motivation. The theories developed are based on Human Need, Human Nature and Expectancy of Human Being. Maslow, Herzberg and McClelland have developed the theories on the basis of Human Needs, McGregor, Urwick and Argyris have developed theories on the basis of Human Nature and Vroom and Porter & Lawler have developed theories on the basis of Expectancy of Human being. Among all these motivational theories except Urwick’s Theory Z all theories are used in different Insurance companies. Bharti-AXA also uses few of these motivational techniques. Different insurance companies use different motivational techniques depending on the

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different kinds of needs of their employees. The aim of this project is to find out the general theories of motivation, then search the theories used in insurance sector and finally the theories used in Bharti-AXA.

2.2 MEANING OF MOTIVATIONThe term motivation has been derived from the word ‘motive’. Motive may be defined as an inner state of or mind that activates and directs our behavior. It makes us move to act. It is always internal to us and is externalized via our behavior. Motivation is one’s willingness to exert efforts towards the accomplishment of an individual’s goal.

2.3 DEFINITION OF MOTIVATIONFred Luthans: “A process that starts with a physiological or psychological deficiency or need that activates behavior or a drive that is aimed at a goal or incentive.”

Stephen P. Robbins: “Motivation is the willingness to exert high levels of efforts toward organizational goals, conditioned by the effort ability to satisfy some individual need.”

Gray and Starke: “Motivation is the result of process, internal or external to the individual that arouses enthusiasm and persistence to pursue a certain course of action.

2.4 MOTIVATION CYCLE OR PROCESSMotivation is a process or cycle aimed at accomplishing some goals. The basic elements included in the process are motives, goals and behavior.

Motives: Almost all human behavior is motivated. Motives prompt people to action. Hence, these are at the very heart of motivational

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process. Motives provide an activating thrust towards reaching a goal.

Goals: Motives are generally directed towards goals. Motives generally create a state of physiological or psychological imbalance. Attaining goals restores balance.

Behavior: Behavior is a series of activities to be undertaken. Behavior is directed to achieve a goal.

CHAPTER 3PROJECT RESEARCH

3.1 IMPORTANCE OF MOTIVATION1. Organizations are run by people; hence, managers can not

afford to avoid a concern with human behavior at work. This is because the motivated employees are more productive and quality-conscious than apathetic ones.

2. Motivation as a pervasive concept affects and is also affected by a host of factors in the organizational milieu. It enables managers to understand why people behave as they behave.

3. Organizational effectiveness becomes, to some extent, the question of management’s ability to motivate its employee. Hence, an appreciation of motivation helps the managers how to motivate their employees.

4. Machines become necessary in case of complex technology. However, these remain inefficient vehicles of effective and efficient operations without man to operate them. Therefore. Organizations need to have employees with required capability and willingness to use the advanced complex technology to achieve the organizational goal.

5. With the realization that organizations will run in more complex milieu in future, an increasing attention has been given to develop employees as future resources [a talent bank]. This

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facilitates the managers to draw upon them as and when organizations grow and develop.

3.2 GENERAL THEORIES OF MOTIVATION

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A. THEORIES BASED ON HUMAN NEED

1. Maslow’s Need Hierarchy TheoryMaslow’s theory is based on the human needs. In essence he believed that once a given level of need is satisfied, it no longer serves to motivate man. Then, the next higher level of need has to be activated in order to motivate the man.

I. PHYSIOLOGICAL NEED: These needs are basic of human life and hence include food, clothing, shelter, air, water and necessities of life. These needs relate to the survival and maintenance of human life. They exert tremendous influence on human behavior. These needs are to be met first at least partly before higher level needs emerge. Once physiological needs are satisfied, they no longer motivate the man.

II. SAFETY NEED: After satisfying the physiological needs, the next needs felt are called safety and security need. These needs find expression in such desires as economic security and protection prompted to work more. Like physiological needs, these become inactive once they are satisfied.

III. SOCIAL NEEDS: Man is a social being. He is, therefore, interested in social interaction, companionship, belongingness, tec. It is this socializing and belongingness why individuals prefer to work in groups and especially older people go to work.

IV. SELF ESTEEM NEEDS: These needs refer to self-esteem and self-respect. They include such needs which indicate self-confidence, achievement, competence, knowledge and independence. The organization. However, inability to fulfill these needs results in feeling like inferiority, weakness and helplessness.

V. SELF ACTUALISATION NEEDS: This level represents the culmination of all the lower, intermediate and higher needs of

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human beings. In other words, the final step under the need hierarchy model is the need for self-actualization. This refers to fulfillment. The word self-actualization was coined by Kurt Goldstein and means to become actualized in what one is potentially good at.

According to Maslow, the human need follow a definite sequence of domination. The second need does not arise until the first is reasonably satisfied, and the third need does not emerge until the first two needs have been reasonably satisfied and it goes on. The other side of the need hierarchy is that human needs are unlimited. However, Maslow’s need hierarchy theory is not without its detractors.

2. Herzberg’s Motivation Hygiene TheoryThe psychologist Frederic Herzberg extended the work of Maslow and proposed a new motivation theory popularly known as Herzberg’s Motivation Hygiene [Two Factors] Theory. Herzberg conducted a widely reported motivational study on 200 accountants and engineers employed by firms in and around Western Pennsylvania. He asked these people to describe two important incidents at their jobs: [1] When did you feel particularly good about your job and [2] when did you feel exceptionally bad about your job? He used the critical incident method of obtaining data.

The responses when analyzed were found quite interesting and fairly consistent. The replies respondents gave when they felt good about their jobs were significantly different from the replies given when they felt bad. Reported good feelings were generally associated with job satisfaction, whereas bad feeling with job dissatisfaction. Herzberg labeled the job satisfiers motivators, and he called job dissatisfies hygiene or maintenance factors. Taken together, the motivators and hygiene factors have become known as Herzberg’s two-factor theory of motivation.

According to Herzberg, the opposite of satisfaction is not dissatisfaction. The underlying reason, he says, is that removal of dissatisfying characteristics from a job does not necessarily make the job satisfying. He believes in the existence of a dual continuum. The opposite of satisfaction is ‘no satisfaction’ and the opposite of ‘dissatisfaction’ is ‘no dissatisfaction’.

According to Herzberg, today’s motivators are tomorrow’s hygiene because the later stop influencing the behavior of persons when they

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get them. Accordingly, one’s hygiene may be the motivator of another.

3. McClelland Need Theory

McClelland developed his theory based on Henry Murray’s developed long list of motives and manifest needs used in his early studies of personality. McClelland’s need-theory is closely associated with learning theory, because he believed that needs are learned or acquired by the kinds of events people experienced in their environment and culture. He found that people who acquire a particular need behave differently from those who do not have. His theory focuses on Murray’s three needs; achievement, power and affiliation.

a. Need for Achievement: This is the drive to excel, to achieve in relation to a set of standard, and to strive to succeed. In other words, need for achievement is a behavior directed towards competition with a standard of excellence. McClelland found that people with a high need for achievement perform better than those with a moderate or low need for achievement, and noted regional/ national differences in achievement motivation.

b. Need for Power: The need for power is concerned with making an impact on others, the desire to influence others, the urge to change people, and the desire to make a difference in life. People with a high need for power are people who like to be in control of people and events

c. Need for Affiliation: The need form affiliation is defined as a desire to establish and maintain friendly and warm relations with other people.

*Summary chart of three need theories of motivation just discussed. The chart shows the parallel relationship between the need s in each of the theories. Maslow’s refers to higher-lower order needs, whereas Herzberg refers to motivation and hygiene factor.

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B. THEORIES BASED ON HUMAN NATURE1. McGregor’s Participation TheoryDouglas McGregor formulated two distinct views of human being based on participation of workers. The first basically negative, labeled Theory X, and the other basically positive, labeled Theory Y.

Theory X is based on the following assumptions:i. People are by nature indolent. That is, they like to work as

little as possible.ii. People lack ambition, dislike responsibility, and prefer to be

directed by others.iii. People are inherently self-centered and indifferent to

organizational needs and goals.iv. People are generally gullible and not very sharp and bright

Theory Y based on following assumes that:i. People are not by nature passive or resistant to

organizational goals.

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ii. Thy want to assume responsibility.iii. Thy want their organization to succeed.iv. People are capable of directing their own behavior.v. They have need for achievement.

McGregor tried to dramatize through his theory X and Y is to outline the extremes to draw the fencing within which the organizational man is usually seen to behave. The fact remains that no organizational man would actually belong either to theory X or theory Y. In reality, he/she shares the traits of both. What actually happens is that man swings from one set or properties to the other with changes in his mood and motives in changing environment.

2. Urwick’s Theory ZMuch after the propositions of theories X and Y by McGregor, the three theorists- Urwick, Rangnekar, and Ouchi-propounded the third theory labeled as Z theory. The two propositions in Urwicks’s theory are that:

i. Each individual should know the organizational goals precisely and the amount of contribution through his effort towards these goals.

ii. Each individual should also know that the relation of organizational goals is going to satisfy his/her needs positively.

In Urwick’s view, the above to make people ready to behave positively to accomplish both organizational and individual goals

However, Ouchi’s Theory Z has attracted the lot of attention of management practitioners as well as researchers. It must be noted that Z does not stand for anything, is merely the last alphabet in the English Language.

Theory Z based on following four postulates:i. Strong Bond between Organization and Employeesii. Employee Participation and Involvementiii. No Formal Organization Structureiv. Human Resource Development

Ouchi’s Theory Z represents the adoption of Japanese management practices [Group decision making, social cohesion, job security, holistic concern for employees, etc.] by the American Companies. In India, Maruti-Suzuki, Hero-Honda, etc apply the postulates of theory Z.

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3. Argyris TheoryArgyris has developed his motivation theory based on proposition how management practices affect the individual behavior and growth. In his view, the seven changes taking place in an individual personality make him/her a mature one. In other words, personality of individual develops from immaturity to maturity as follows:

Immaturity MaturityPassivityDependenceCapable of behaving in a few waysShallow interestShort-term perspectiveSubordinate positionLack of self-awareness

Activity IndependenceCapable of behaving in many waysDeep interest Long-term perspectiveSuper ordinate positionSelf-awareness and control

Argyris views that immaturity exists n individuals mainly because of organizational setting and management practices such as task specialization, chain of command, unity of direction, and span of management. In order to make individuals grow mature, he proposes gradual shift from the existing pyramidal organization structure to humanistic system; from existing management system to the more flexible and participative management. He states that such situation will satisfy not only their physiological and safety needs, but also will motivate them to make ready to make more use of their physiological and safety needs. But also will motivate them to make ready to make more use of their potential in accomplishing organizational goals.

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C. THEORIES BASED ON EXPECTENCY OF HUMAN BEING1. Vroom’s Expectancy TheoryOne of the most widely accepted explanations of motivation is offered by Victor Vroom in his Expectancy Theory. It is a cognitive process theory of motivation. The theory is founded on the basic notions that people will be motivated to exert a high level of effort when they believe there are relationships between the effort they put forth, the performance they achieve, and the outcomes/rewards they receive.

Thus, the key constructs in the expectancy theory of motivation are:

i. Valence: Valence, according to Vroom, means the value or strength one places on a particular outcome or reward.

ii. Expectancy: It relates efforts to performance.iii. Instrumentality: By instrumentality, Vroom means, the

belief that performance is related to rewards.

The Vroom’s motivation can also be expressed in the form of an equation as follows:

Motivation = Valence × Expectancy × Instrumentality

Being the model multiplicative in nature, all the three variables must have high positive values to imply motivated performance choice. If any one of the variables approaches to zero level, the possibility of the so motivated performance also touches zero level.

However, Vroom’s expectancy theory has its critics. The important ones are:

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i. Critics like Porter and Lawler labeled it as a theory of cognitive hedonism which proposes that individual cognitively chooses the course of action that leads to the greatest degree of pleasure or the smallest degree of pain.

ii. The assumption that people are rational and calculating makes the theory idealistic.

iii. The expectancy theory does not describe individual and situational differences.

But the valence or value people place on various rewards varies. For example, one employee prefers salary to benefits, whereas another person prefers to just the reverse. The valence for the same reward varies from situation to situation.

In spite of all these critics, the greatest point in the expectancy theory is that it explains why a significant segment of workforce exerts low level of efforts in carrying out job responsibilities.

2. Porter and Lawler’s Expectancy TheoryPorter and Lawler’s theory is an improvement over Vroom’s expectancy theory. They posit that motivation does not equal satisfaction or performance. The model suggested by them encounters some of the simplistic traditional assumptions made about the positive relationship between satisfaction and performance. They proposed a multi-variate model to explain the complex relationship that exists between satisfaction and performance. What is the main point in Porter and Lawler’s model is that effort or motivation does not lead directly to performance. It is, in fact, mediated by abilities and traits and by role perceptions. Ultimately, performance leads to satisfaction.

There are three main elements in this model. Briefly explained as follows,

i. Effort: Effort refers to the amount of energy an employee exerts on a given task. How much effort an employee will put in a task is determined by two factors [1] Value of reward and [2] Perception of effort-reward probability.

ii. Performance: One’s effort leads to his/her performance. Both may be equal or may not be. However, the amount of performance is determined by the amount of labor and the ability and role perception of the employee. Thus, if an employee possesses less ability and / or makes wrong role perception, his/her performance may be low in spite of his putting in great efforts.

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iii. Satisfaction: Performance leads to satisfaction. The level of satisfaction depends upon the amount of rewards one achieves. If the amount of actual rewards meet or exceed perceived equitable rewards, the employee will feel satisfied. On the country, if actual rewards fall short of perceived ones, he/she will be dissatisfied.

Rewards may be of two kind- intrinsic and extrinsic rewards. Examples of intrinsic rewards are such as sense of accomplishment

and self-actualization. As regards extrinsic rewards, these may include working conditions and status. A fair degree of research support that the intrinsic rewards are much more likely to produce attitudes about satisfaction that are related to performance

There is no denying of the fact that the motivation model proposed by Porter and Lawler is quite complex than other model of motivation. In fact, motivation itself is not a simple cause-effect relationship rather it is a complex phenomenon. Porter and Lawler have attempted to measure variables such as the values of possible rewards, the perception of effort-reward probabilities, and role perceptions in deriving satisfaction. They recommended that the managers should carefully reassess their reward system and structure. The effort-performance-reward-satisfaction should be made integral to the entire system of managing men in organization

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3.3 THEORIES USED IN INSURANCE SECTOR1. Maslow’s Need Hierarchy Theory

2. Herzberg’s Motivation Hygiene Theory

3. McClelland Need Theory

4. McGregor’s Participation Theory

5. Porter and Lawler’s Expectancy Theory

6. Vroom’s Expectancy Theory

CHAPTER 4

Theories in Bharti-axa

4.1 McClelland NEED THEORY USED IN BHARTI-AXA FOR MOTIVATION

Management believed that needs are learned or acquired by the kinds of events people experienced in their environment and culture. They found people who acquire a particular need behave differently from those who do not have. This theory focuses on Murray’s three needs; achievement, power and affiliation.

a. Need for Achievement: Need for achievement is a behavior directed towards competition with a standard of excellence. McClelland found that people with a high need for achievement perform better than those with a moderate or low need for achievement, and noted regional/ national differences in achievement motivation. For example offer for higher incentives, offer for gifts, etc.

b. Need for Power: The need for power is concerned with making an impact on others, the desire to influence others, the urge to change people, and the desire to make a difference in life. People with a high need for power are people who like to be in control of people and events. This results in ultimate satisfaction of man. For example offer for Promotion.

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c. Need for Affiliation: The need form affiliation is defined as a desire to establish and maintain friendly and warm relations with other people.

4.2 PERFORMANCE APPRAISALS AS MOTIVATION

Eagle view on performance means appraising the performance; which could be first stepping stone forward achieving the objective of company. Performance appraisal is the step where the management finds out how effective it has been at hiring and placing employees. Performance appraisal can be either formal or informal. Usage of formal system schedule regular sessions in which an employee’s performance is discussed, and informal appraisals are unplanned. But most organizations use a formal appraisal system.

BENEFITS OF PERFORMANCE APPRAISALS

For the one who is, Appraisal: (by this he can)

Know how they are working

Know what is expected of them

Receive recognition and praise.

Be hard and respected.

Receive help and encouragement

Appraiser: (by this he can)

Improve their communications and relations with staff.

Full understanding the performance contribution.

Get to know performer better.

Have a consistent approach for giving more effective.

The importance of Performance Appraisal:

1. It unifies the appraisal procedure.

2. It provides information, which is useful in making and forming

important decisions.

3. It provides information form of record about rating.

4. It serves to stimulate and guide employee’s development.

5. A periodic and accurate appraisal constraint a supervision to be

alert and competent in his work.

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Objectives of Performance Appraisal

Success of an organization depends upon 3p’s product, process and

people. Here people play key role. And some people believe that

human resource have capability to appreciate with time. Hence if

organization wants to ride on the path of success, it must vigil on

performance of its people.

Performance appraisal system is based on psychological behavior of

people which states that people perform for their feelings and

responses and also the performance appraisal plans are designed to

meet the needs of the organization and the individual. The future

oriented performance appraisal is concerned with the identification of

employee’s training on development needs and setting of new

targets.

4.3 EMPLOYEE EMPOWERMENTIntroduction: In simple words, empowerment is giving power .the word empower means to give the means, ability and authority.

Definition: “Empowerment is any process that provides greater autonomy through the sharing of relevant information and provision of control over factors affecting job performance”.“A participative process that uses the entire capacity of employees and is designed to encourage increased commitment to the organization’s successes”. Approaches to empowerment: The real problem is how to empower employees. Like other behavioral problems, the researchers have studied the problem and have suggested five approaches to empowerment. These are,

1. Helping employees achieve job mastery [Giving proper training, coaching and guide experience that will result in initial successes].

2. Allowing more control. [Giving them discretion over job performance and then holding them accountable for outcomes].

3. Providing successful role models [Allowing them observe peers who have already performed successfully on their jobs].

4. Using social reinforcement and persuasion [Giving praise, encouragement and verbal feedback designed to raise self confidence].

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5. Giving emotional support [Providing reduction of stress and anxiety through better definition, task assistance and honest caring].

4.4 BARRIERS TO EMPOWERNENT:Of the several barriers to effective empowerment, the important ones are as follows,

Some sort of organizational culture is found incongruent with the concept of employees’ empowerment. In these organizations the management philosophy is molded by the whims and fancies of the CEO. These CEOs are hardly enlightened with education but enriched by wealth. As such they follow dictatorship and run the administration with an iron hand.

There are organizations where employees have no inclination towards the concept of empowerment

Some employees may have fear in their minds that they will be punished if they will take initiative in the matter of empowerment.

Employees who are either under prolonged autocratic leadership or possessing external locus of control, with the security of having some one to tell them what to do and when to do, they will therefore resist empowerment.

The superior who are power hungry never would like to part their authority with subordinate.

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4.5 CUSTOMER RELATIONSHIP [CR]Meaning: It is a strategy used to learn more about customers' needs and behaviors in order to develop stronger relationships with them. Good customer relationships are at the heart of business success.CR is an integrated information system that is used to plan, schedule and control the presales and postsales activities in an organization. CR embraces all aspects of dealing with prospects and customers, including the call center, sales force, marketing, technical support and field service. The primary goal of CR is to improve long-term growth and profitability through a better understanding of customer behavior.

CR is both a business strategy and a set of discrete software tools and technologies, with the goal of reducing costs, increasing revenue, identifying new opportunities and channels for expansion, and improving customer value, satisfaction, profitability, and retention.

There are three parts of application architecture of CR.1. Operational CR: Operational CR means supporting the so-

called "front office" business processes, which include customer contact (sales, marketing and service).

2. Analytical CR: In analytical CR, data gathered within operational CR are analyzed to segment customers or to identify cross- and up-selling potential.

3. Collaborative CR: Collaborative CR facilitates interactions with customers through all channels (personal, letter, fax, phone, web, e-mail) and supports co-ordination of employee teams and channels.

Advantages of CR:

Understanding the value of a particular customer during their entire life cycle

Consistent structured and complete customer information, customer identification

Greater emphasis on customer retention through loyalty-building programmes

Planning product cross-marketing strategies Measuring marketing campaigns and sales activities impact Optimizing, automation and control of marketing, sales and

service processes Rationalization of operations saving time and money

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CHAPTER 5Data analysis and interpretation

5.1 DATA ANALYSIS

The following observations are done on the basis of responses got from all employees. The questionnaire provided to employees is given in Chapter 10 ANNEXTURE.

1. Respondent by age.

Objective: To know different motivational theories to be used on different age group of employees, because same motivational technique can not motivate all employees varying in age group.

Sr. No. Age Group Respondent Percentage

1 15-25 9 18 %

2 25-35 29 58 %

3 35-45 10 20 %

4 45 and above 2 4 %

Total 50 100%

Graphical Representation:

Conclusion: Maximum employee belongs to 25-35 age group as they are highly job oriented so this age group needs maximum motivation to improve their performance.

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2. Respondent by Date of Joining.

Objective: To know the experience and stability of employee in Bharti AXA Life Insurance, Nagpur.

Sr. No Date of joining Respondents Percentage

1 2008-2009 40 80 %

2 2007-2008 10 20 %

3 2007 and before 0 0 %

Total 50 100%


Conclusion: With this graph we get to know that maximum employee joined Bharti-AXA Nagpur branch in the year of 2008 – 2009.

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3. Respondent by Department.

Objective: To know number of employees working in different department, so that we could get to know motivational hierarchy used in Bharti AXA Life insurance, Nagpur.

Sr. No Department Respondents

Percentage

1 HRM 1 2 %

2 Operation 2 4 %

3 Sales 47 94 %

Total 50 100%


Conclusion: According to above graph 94% employees are working in sales department and 4% in operational level and left 2% in HR department.

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4. How do employees feel about company?

Objective: To know what an employee feels as an employee about company which will decide job satisfaction and affiliation of employees.

Sr. No

Response Respondents

Percentage

1 They feel safe, valued and taken care off

50 100 %

2 Taken advantage, dispensable and invisible

0 0 %

Total 50 100%


Conclusion: Employees feel that they are safe, valued and taken care off by there company.

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5. Are you free to find your own solutions?

Objective: To know whether employees have freedom to solve their problem by themselves or not, which will decide the empowerment techniques used by the company because empowering authority and responsibility is also one kind of motivation technique.

Sr. No Response Respondents

Percentage

1 Yes 50 100 %

2 No 0 0 %

Total 50 100%


Conclusion: All employees have freedom to solve their small problem with their own relevant ideas.

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6. Where you found yourself after one year?

Objective: To know future planning of employee with the company, this will determine their determination toward their job and life. This will be evaluated by their present performance.

Sr. No Response Respondents Percentage

1 Promoter 50 100 %

2 Constant 0 0 %

Total 50 100%


Conclusion: In this graph we can see that all employees want to be promoted after a year that shows their positive attitude towards their work.

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7. Do you know your performance appraisal?

Objective: To know the awareness of an employee towards his performance appraisals, this will determine his attitude towards his achievement.

Sr. No Response

Respondents

Percentage

1 Yes 50 100 %

2 No 0 0 %

Total 50 100%


Conclusion: This graph shows that all employees know about awards which are given to them on their performance which makes their performance more batter.

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8. Does employee [you] feel empowered?

Objective: To know whether employees have any rights to take different decision at their level or the decisions are only compiled. This will determine freedom of work towards his job.


1 Yes 50 100 %

2 No 0 0 %

Total 50 100%


Conclusion: In this figure we can see that employees know the importance of power and wanted to be empowered.

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9. Are you satisfied with your work load?

Objective: To know whether employees are satisfied with the work load they have, which will determine their attitude towards work.

Sr. No Responses Respondents Percentage

1 Yes 40 80 %

2 No 10 20 %

Total 50 100%


Conclusion: 80% employees are satisfied with their work and 20% are unsatisfied they feel over workload.

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10. What motivates you most?

Objective: This will determine how an employee can be motivated more so as to make his work done effectively. This will also tells about expectation of employee from his job.


1 Performance 15 30 %

2 Job Satisfaction 5 10 %

3 Financial Rewards

30 60 %

Total 50 100%


Conclusion: In this graph as we can see employees feel that financial reward give them max motivation as 30% of them feel that performance motivate them more but 60% employees feel that financial reward motivate them more and 10% of them think that job satisfaction motivates them more than anything else.

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11. Do you know what is expected from you and are you fulfilling it?

Objective: This will tell about whether an employee know what is expected from him and fulfilling it or not, this will explains about job performance and job satisfaction of individuals.

Sr. No Department Respondents Percentage

1 Yes 45 90 %

2 No 5 10 %

Total 50 100%


Conclusion: With this graph we get to know that maximum employees know what is expected from them and they are properly fulfilling it, but some of them are unable to fulfill the expected requirement.

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12. Do you have proper materials and equipment you need to do work right?

Objective: To know whether an employee is satisfied with the material and equipment provided for work.


1 Yes 50 100 %

2 No 0 0 %

Total 50 100%


Conclusion: This graph shows that employees are provided with requisite material and equipment needed to fulfill the assigned task with positive motivation.

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13. At work do you have the opportunity to do what you can do best every day?

Objective: To know about the empowerment, delegation of authority and responsibility from superior to subordinate.


1 Yes 50 100 %

2 No 0 0 %

Total 50 100%


Conclusion: This graph indicates that the employees are satisfied with delegation of authority and power to solder the responsibility for high degree of task accomplishment.

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14. Do you give your opinion and it seems to be counted?

Objective: To know about is there any importance to the opinion and suggestions of subordinates.


1 Yes 50 100 %

2 No 0 0 %

Total 50 100%


Conclusion: In this graph we can see that employees give required set of opinion and maximum time it is taken into consideration.

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15. The thing which demoralize you?

Objective: To know about the reasons due to which employee gets demoralize.

Sr. No

Response Respondents Percentage

1 Work Load 20 40 %

2 Working Environment

5 10 %

3 Competition in Market

25 50 %

Total 50 100%


Conclusion: Here 40% of the employees feel that over work load demoralize them but 50% of them think that competition in market and 10% of employees feel that working environment demoralize them.

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16. Comment of satisfaction level for each of the following as highly satisfied, satisfied and dissatisfied.

Objective: To get the knowledge of satisfaction level of employees belonging to following categories.


1 Work environment

L 0 0

M 5 10 %

H 45 90 %

50 100 %

2 Working hours

L 0 0

M 20 40 %

H 30 60 %

50 100 %

3 Work load

L 5 10 %

M 15 30 %

H 30 60 %

50 100 %

4 Nature and concept of load

L 5 10 %

M 20 40 %

H 25 50 %

50 100 %

5 Availability of technology, equipment and infrastructure

L 5 10 %

M 10 20 %

H 35 70 %

Total 50 100

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Conclusion: On the basis of satisfaction level 90% of employees feel that the working environment is highly satisfactory and 10% think that its medium.60% of employees feel that the working hours are highly satisfied but 40% think its medium. 60%of employees feel that they are satisfied with their work load. 30% think medium and 10% are dissatisfied. 50% of them are highly satisfied with nature and concept of work but 40% feel it’s satisfying and 10% feel that it is dissatisfying.

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17. In the last one year have you had any opportunity at work to grow and learn?

Objective: To know about how many employees got promoted to the next level which will explain about performance appraisal programs of the company.

Sr. No


1 Yes 45 90 %

2 No 5 10 %

3 Not Applicable 0 0 %

Total 50 100%


Conclusion: 90% of employees said that they got the opportunity at work to grow and learn but 10% of them said they are not able to get any such opportunity.

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18. Are your associates committed in doing equality work [Joint work]?

Objective: This will tell about whether employees are working together for each other or selfish, whether they take care of their own work [calls] or help the others [joint calls], this will also tells about their working nature with colleagues.


1 Yes 40 80 %

2 No 10 20 %

Total 50 100%


Conclusion: As we can see that 80% employees say that their associates are committed in doing equality work but 20% of them feel that they are undertaken by their co-workers.

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19. Do you have inter-departmental meetings?

Objective: To know about employees [Management] from different department does the business communication with each other.


1 Yes 40 80 %

2 No 10 20 %

Total 50 100%


Conclusion: 80% employees said that some of the departments do have interdepartmental meetings but 20 % say that they don’t have any such meetings.

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20. Do you find lack of communication between you and your superiors?

Objective: To know whether there is communication gap between superior and subordinates.


1 Yes 40 80 %

2 No 10 20 %

Total 50 100%


Conclusion: 20% employees feel lack of communication between them and superiors and 80% of them say that they do not have any such problem.

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21. Do you have regular seminar workshops and live projects for learning and development?

Objective: To know about development programs running in company are attended by the employees and conducted by higher level of management or not.


1 Yes 50 100 %

2 No 0 0 %

Total 50 100%


Conclusion: Yes they have regular seminar workshops and live projects for learning and development.

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22. What determines yours moral?

Objective: To know the reason which represents the employee’s moral towards achievement.

Sr. No


Percentage

1 Feeling of Togetherness 0 0 %

2 Need for a clear goal or objective to be achieved

5 10 %

3 Supportive and simulative leadership

25 50 %

4 Expectation of Success towards to attainment of goal

20 40 %

Total 50 100%


Conclusion: Feelings that determine employee’s moral are as 50% feel that supportive and simulative leadership improve their moral but 40% of them think that expectations to success towards attainment of the goal affect their moral and 10% think that need for a clear goal or objective to be achieved motivates their moral.

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23. Which kind of rewards can motivate you more?

Objective: To know what motivate them more monetary or non monetary

Sr. No


1 Money 20 40 %

2 Promotion 25 50 %

3 Tours with family 0 0 %

4 Gift voucher 5 10 %

Total 50 100%


Conclusion: 50% employees feel that promotion motivate them a lot but 40% of them think that money motivates them more and 10 % employees get motivated more when they get gift vouchers.

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24. Can you rate the effectiveness of the performance appraisal system in providing you with clear agreed training and development?

Objective: To know about whether an employee is satisfied with performance appraisals schemes used by the company to their betterment.


1 Highly satisfied 30 60 %

2 Satisfied 20 40 %

3 Dissatisfied 0 0 %

Total 50 100%


Conclusion: 60% employees are highly satisfied with their performance appraisals whereas 40%of them are just satisfied and say that it should be more transparent.

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25. What is the need of motivating employees in an organization, from the point of view of employee?

Objective: To know, why the motivation is important from the point of view of employee.

Sr. No


1 Psychological Need 5 10 %

2 Self Actualization Need 0 0 %

3 Esteem Need 5 10 %

4 To Increase Productivity 40 80 %

Total 50 100%


Conclusion: The need of motivating employees in an organization is important to manifold the productivity of the organization which intern will benefit the employees too.

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26. Think of a person, in the past, did an excellent job of motivating you. Which of the following approaches did they use?

Objective: To know motivating techniques used on an individual by their superior during his/her training sessions.

Sr. No


Percentage

1 ERG(Expectation Readiness & Growth) Needs

20 40 %

2 Lower - order or higher order needs

0 0 %

3 Behavioral modifications 10 20 %

4 Motivational or maintenance factor

20 40 %

Total 50 100%


Conclusion: 40% employees feel that their superiors have used ERG approach where as the equal numbers of them feel that their

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superiors have used motivational or maintenance factors but 20% feel that behavioral modification motivated those most.

CHAPTER 6Training concept

6.1 INSURANCEEvery asset has value. Insurance is to protect economic value of assets. The assets would have been created through the efforts of the owner, in the expectation that through the income generate, some of its need would be met. The asset is valuable to the owner, because it meets some of his needs. The benefit may be an income or some other form. In case of the business, the production is sold and income is generated. In the case of vehicle, it provides comfort and convenience in transportation. There is no direct income. There is a normally expected life time for the asset during which time it is expected to perform. The owner, aware of this, can so manage his affairs that by the end of that life time, a substitute is made available to ensure that the value or income is not lost. However, if the asset gets lost earlier, being destroyed or made non-functional, through an accident or other unfortunate event, the owner and those deriving benefits suffer. Insurance is a mechanism that helps to reduce adverse consequences.

PURPOSE AND NEED OF INSURANCE: Assets are insured, because they are likely to be destroyed or made non-functional before the expected life time, through accidental occurrences. Such possible occurrences are called perils. Fire, floods, breakdowns, lightning, earthquakes, etc are perils. If such perils can cause damage to the asset, we say that the asset is exposed to that risk. Perils are the events. Risks are the consequential loses or damages. The risk to an owner of building, because of the peril of an earthquake, may be a few lakhs or a few crores of rupees, depending on the cost of the building, the contents in it and the extent of damage.

6.2 SHARE MARKET

EQUITY MARKET: The market in which shares are issued and traded, either through exchanges or over-the-counter markets. Also known as the stock market, it is one of the most vital areas of a market economy because it gives companies access to capital and

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investors a slice of ownership in a company with the potential to realize gains based on its future performance.

Bombay Stock Exchange (BSE):-The Bombay stock exchange is the oldest stock market of India.

“Sensex” stands for sensitive index. It was created in 1978-79 with a base value of 100. It comprises of thirty stocks of leading Indians companies and it is well diversified with representation of almost 18 sectors of the economy like Banking, Information Technology, Cement, Autos, Manufacturing, Capital goods, etc. The sensex is revised from time to time to incorporate companies belonging to emerging sectors of the economy. The movement in sensex values on working days is computed on a real time basis.

National Stock Exchange (NSE):- Nifty is the stock market index of National Stock of Exchange. It comprises the stocks of 50 of the largest and the most liquid companies from about 25 sectors in India. It was introduced in 1995 keeping in mind that it would be used for modern applications such as index fund and index derivatives, besides reflecting the stock market behavior. NSE maintains it till July 1998 and subsequently it has been managed by IISL (India Index Services and Products Ltd.) NSE is one of the first de-metalized stock exchanges in the country, where the ownership and management of the exchange is completely divorced from the right to trade on it.

Securities and Exchange Board of India [SEBI] The central government has constituted a board by the name of the SEBI under section 3 of SEBI Act, 1992 to established SEBI with statutory powers for:A) Promoting the interest of the investors in securities.B) Promoting the development market, and C) Regulating the securities market.

The head office of SEBI is in Mumbai. Its regulatory jurisdictions extends over companies listed on stock exchange , and companies intending to get their securities listed on any recognized stock exchange issuance of securities and transfer of securities, in addition to all intermediaries and persons associated with the securities market.

6.3 MUTUAL FUND A mutual fund is a pool of money, which is collected from many investors and is invested by an asset management company to

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achieve some common objective of the investors. Thus mutual fund is collective investment process. An asset management company [AMC] collects many investors’ money. It invests this money in various securities to generate returns for the investor. Investors get the net returns after deducting the related expenses.

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CHAPTER 7Findings

7.1 FINDINGS

1. Bharti Axa uses McClelland need theory of motivation to motivate employee.

2. They have satisfactorily implemented McClelland need theory of motivation.

3. According to employee motivation is used to improve productivity.

4. All employees are satisfied with their work load.

5. Everybody feel that they have freedom to work as they like and their suggestions are seems to be counted.

6. Maximum employees get de-motivated due to heavy competition in market.

7. Everybody have an equal opportunity to grow as all employees are committed to their work.

8. There is very less communication gap exist between superior and subordinates due to non-performing subordinates.

9. All employees are aware about their performance appraisals, they all feel empowered and maximum employees are satisfied with their work load.

7.2 COMPETETERS of BHARTI AXA

1. LIC (Life Insurance Corporation)

2. ICICI Prudential life insurance.

3. Bajaj Allianze life insurance.

4. SBI life insurance.

5. Aviva life insurance.

6. Tata aig life insurance.

7. Reliance life insurance.

8. Kotak dynamic life insurance.

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9. Birla individual life insurance.

10. Max New York life insurance.

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CHAPTER 8

Suggestions AND Conclusion

8.1 SUGGESTIONS

1. Number of Branches should be increased covering a wider area in various states.

2. A wide publicity to be given about the organization and its products through various means of communications.

3. More number of training and educational programmes should be included in working.

4. Developing a learning culture through continuous learning process.

8.2 CONCLUSIONSThe general techniques of motivation to motivate employees

are based on Human Needs, Human Nature and Expectancy of Human Being. The Human Need theory consists of Maslow’s Need Hierarchy Theory, Herzberg’s Motivation Hygiene Theory, and McClelland Need Theory. Theories depending of Human Nature consist of McGregor’s Participation Theory, Urwick’s Theory Z and Argyris’s Theory. And theories depending of Human Being consist of Porter and Lawler’s Expectancy Theory, Vroom’s Expectancy Theory. Amongst these motivational theories insurance sector uses following theories Maslow’s Need Hierarchy Theory, Herzberg’s Motivation Hygiene Theory, McClelland Need Theory, McGregor’s Participation Theory, Porter and Lawler’s Expectancy Theory, Vroom’s Expectancy Theory. From these motivational theories Bharti-AXA uses only McClelland Need Theory which is further categorized as Need for Achievement, Need for Power and Need for Affiliation.

During out SIP period of two months with Bharti AXA, it is learnt that the company is a world of good as compared with other competitors available in the market for a considerable period of time. However it is noted that the Bharti-AXA can grow manifold in the years to come if it adopts the points mentioned under the heading of suggestion of this project report.

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CHAPTER 9Bibliography

9.1 BIBLIOGRAPHY

SR. NO.

REFERENCE

1 Career Adviser Program Work Book

Bharti-Axa Life Insurance

2 Human Resource Management[Text and Cases]

S. S. KHANKA [S. Chand]

3 Life Insurance [New Syllabus]

S. Balachandran

4 Mutual Fund

Akhilesh [HABSG Consulting]

5 Internet

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CHAPTER 10

Annexure“MOTIVATIONAL THEORIES USED IN INSURANCE

SECTOR”BHARTI AXA LIFE INSURANCE, NAGPUR

STAFF QUESTIONNAIR

Name: _______________________ DOB: ___________ Designation: ____________Address: -______________________________________________________________Educational Qualification: ________________________ Marital Status: __________Department: ___________________________________ Date of Joining: _________

1. How do employees feel about company?a. They feel safe, loyal, valued and taken care offb. Taken advantage, dispensable and invisible

2. Are you free to find your own solutions? [Yes / No]

3. Where you found yourself after one year?a. Promoterb. Constant

4. Do you know your performance appraisal?[Yes / No]

5. Does employee [you] feel empowered? [Yes / No]

6. Are you satisfied with your work load? [Yes / No]

7. What motivates you most?a. Performanceb. Job Satisfactionc. Financial Rewards

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8. Do you know what is expected from you and are you fulfilling it. [Yes/No]

9. Do you have proper materials and equipment you need to do work right?

[Yes / No]

10. At work do you have the opportunity to do what you can do best every day?

[Yes / No]

11. Do you give your opinion and it seems to be counted?[Yes / No]

12. The thing which demoralize you.a. Work loadb. Working Environmentc. Competition in market

13. Comment of satisfaction level for each of the following as highly satisfied, satisfied and dissatisfied.

a. Work environment [low, medium, high]

b. Working hours [low, medium, high]c. Work load [low, medium, high]d. Nature and concept of load [low, medium,

high]e. Availability of technology, equipment and infrastructure

[low, medium, high]

14. In the last year have you had any opportunity at work to grow and learn? [Yes / No / NA]

15. Are your associate are committed in doing equality work (Joint work)? [Yes / No]

16. Do you have inter-departmental meetings? [Yes / No]

17. Do you find lack of communication between you and your superiors? [Yes / No]

18. Do you have regular seminar workshops and live projects for learning and development? [Yes / No]

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19. Did you have any promotion till the date from the joining of organization? [Yes / No]

20. What determines yours moral?a. Feeling of togethernessb. Need for a clear goal or objective to be achievedc. Supportive and simulative leadershipd. Expectation of success towards to attainment of the goal

21. In motivation which kind of rewards can motivate you?a. Moneyb. Promotionc. Tours with familyd. Gift voucher

22. Can you rate the effectiveness of the performance appraisal system in providing you with clear agreed training and development?

a. Highly satisfied b. Satisfiedc. Dissatisfied

23. What is the need of motivating employees in an organization? From the point of view of employees?

a. Psychological needsb. Self actualization needc. Esteem needd. To increase the productivity

24. Think of a person, in the past, did an excellent job of

motivating you. Which of the following approaches did they use?

a. ERG (Expectation Readiness and Growth) Needsb. Lower - order or higher order needsc. Behavioral modificationsd. Motivational or maintenance factor

*******

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Documents

Corrected Final Copyf_project Report Motivational Technics