CHAPTER I INTRODUCTION

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OVERVIEW OF THE COMPANY

SRF Ltd., earlier called the Sriram Fibers, has evolved into a modern industrial major. Its roots go back to over a century, with the establishment of the parent company, DCM (Delhi Cloth Mills) in 1889. Since its inception in 1974, the company has been improving continuously and has made its mark in the industry. It is the market leader in its core businesses, namely industrial synthetics and Fluorochemicals. It also enjoys growing presence in light engineering products, engineering plastics packaging films and Pharma chemical business. SRF today operates from nine plant locations in India and abroad and has attained market leadership position in many of the products it manufactures. SRFs relentless focus on TQM techniques has resulted in the company winning the prestigious Deming Application Prize in 2004 (the first nylon tire cord company outside Japan to be awarded this prize).

SRF PURPOSE

To be an inspired, caring organization To create extraordinary value for all To pursue excellence and customer loyalty To always meet tomorrow's challenges today

"We Will Make Our Nation Proud By Being the Best at What We Do"

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SRF VISION

To be one of the most admired business organizations in India, deeply loved by its people, respected and sought after by its customers and shareholders.

To be World Leader in at least one of its businesses with global operations and technology leadership. To be one of the most sought after employers in the country. A Company known for its people management skills. One that can unlock the talent hidden in each employee and inspire him or her to take on and accomplish extraordinary future challenges.

To be a shining example of deep commitment and contribution to development of people and society.

SRF MISSION

Enable customer satisfaction of a high level and a standard higher than that of competition. Provide good returns to our shareholders and other financial stakeholders. Continuously enhance the total quality of life of our employees and help them realize their potential. Contribute to the development of the society and the nation.

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SRF CORE BUSINESSES

THE INDUSTRIAL SYNTHETICS BUSINESS, which manufactures Nylon Tyre Cord Fabric, and is the 7th largest producer of NTCF in the world and the largest in India.

THE COATED FABRICS BUSINESS, which manufactures high quality fabrics used for non-tyre applications in the international and domestic market.

THE BELTING FABRICS BUSINESS, which manufactures fabric used to make conveyor belts, and is the 2nd largest producer in the world and the largest in India.

THE FLUOROCHEMICALS BUSINESS, which manufactures Refrigerant Gases and Choloromethanes, and is the largest producer in India with exports to more than 50 countries.

THE PACKAGING FILMS BUSINESS, which manufactures Biaxially Oriented Poly Ethylene Terephthalate (BOPET) also called Polyester (PET) Film, is predominantly used in Flexible Packaging Applications.

THE PHARMA CHEMICALS BUSINESS, which manufactures intermediates/ advanced intermediates and provides contract research, custom synthesis & contract manufacturing services to the Pharma Industry.

PROCUREMENT SOLUTIONS & SERVICES: Procurement of indirect materials requires organizations to identify and deal with countless suppliers based on imperfect knowledge, in a market that is highly disorganized. SRF eBIZ

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provides solutions & services to increase efficiencies in the procurement of these indirect items (also known as B & C category items). THE ENGINEERING PLASTICS LIMITED caters to the Nylon engineering plastics requirements of companies in the automobiles, white goods, electrical goods, telecom cables, textile machinery, and electronics sectors. The brands which are famous are TUFNYL and TUFBET.
THE FISHNET TWINES is a niche business where as leaders in the branded segment we sell fishnets, fishing lines, spindles, tapes, nylon belts and straps as well as velcrotapes to end users in India, Sri Lanka, Uganda and Nigeria.

SRF Ltd also has a wholly owned subsidiary SRF Overseas ltd at Jebel Ali, Dubai and is engaged in manufacturing of Tyre Cord Fabric. This was the first overseas initiative of SRF Group.

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LOCATION OF BUSINESSES

Industrial Industrial Synthetics Synthetics Business Business (Jebel (Jebel Ali, Ali, Dubai) Dubai) Industrial Synthetic Business (Malanpur) Engineering Plastics (Manali) Fish Net Twine (Manali) Corporate Office Delhi

PFB (Kashipur)

Chemicals Business (Jhiwana) SRF e-Biz (Delhi)

PFB Indore Industrial Industrial Synthetics Synthetics Business (Thiruvallur) Business (Thiruvallur) Industrial Industrial Synthetics Synthetics Business Business (Manali) (Manali) Industrial Industrial Fabrics Fabrics Business Business (Viralimalai) (Viralimalai) Engineering Plastics (Pantnagar)

INTRODUCTION TO THE PROJECT Competencies are described as discrete behavioral traits, which are relevant to job performance. These behavioral traits should be observable and they depend on factors like ability, personality, knowledge, skill and motivation levels of the individual. My intention in producing this On Job Training Schedule is to provide a framework, which can be used by HR personnel in SRF (specifically EP Business) to target and

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develop the competencies in plant jobs, specifically targeted for the department heads (Band O-A Managers). Before we look at a plan to take effective action for skill & competency development, it is helpful to understand why competency gaps may have emerged in a managers assessment and feedback. Here are a few general reasons as to why managers may not have demonstrated the required behavior: Lack of opportunity: The current job may not provide adequate opportunities to exhibit a particular competency. Therefore, the feedback providers may not have had the opportunity to see the manager demonstrate a particular competency. Once this is recognized, development activities that would increase the managers opportunity to demonstrate that competency in his current job, should be assigned. Lack of Knowledge: The manager may currently lack the necessary knowledge to demonstrate the behaviors. The appropriate response should be to create a personal development plan, which will allow him to acquire and practice the required new behaviors Barrier: The manager may feel discouraged or prevented from performing the desired behaviors by some sort of barrier. The barrier could be a lack of necessary information or organizational roadblocks. The appropriate response is to develop a plan to problemsolve with the right people or group to remove or work around the barrier.

Lack of Skill: Skill is defined as the ability, coming from one's knowledge, practice, aptitude, etc., to do something well. For a manager to be proficient at his job he must have a certain amount of skill. If this skill is absent then the manager will not be able to produce the desired

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kind of results. Because of this lack of skill, the manager would not exhibit certain behavioral traits. The response should be to first define the skill level required for different job profiles and then they try and bridge the gap between the actual and the desired skill level.

UNDERLYING THEORY:
Developing personalities is a tedious and time-consuming job. Human beings start developing their personalities in their formative years and hence changing it drastically in order to enhance performance takes a lot of time and effort. It can only be done through the individuals own effort. The organization can guide him and cannot do much more. Another challenge we face while developing personality traits of a person is the difficulty in measurement of progress. It is also very difficult to gauge the degree of change of a personality trait. Therefore, we shall deal with factors of developing behavioral traits that are comparatively easy to develop and measure. This should not give the impression that personality is not an important factor in these behavioral traits, here we just understand the limitations of our work and realize that dealing with personality factors under the given conditions would not be fruitful. We would meanwhile discuss in length the impact; different personality factors have on the various behavioral traits. In this training schedule, we will look to address the development of two of the contributing factors to the behavioral traits of the manager i.e. knowledge and the skill of the managers. These factors can be developed and measured with relative ease compared to the other factors. Knowledge is the basic set of facts that a manager should be aware of, in order to exhibit the behavioral traits, which result in better job performance. Without this knowledge, the manager does not stand a chance in being proficient at his job.

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After acquiring the required amount of knowledge, the personality of the manager pushes the manager to use this knowledge to enhance his skills so that eventually his performance becomes better. In other words, knowledge is the base on which the skills are developed. The personality of the manager pushes him to develop these skills and determines the extent to which these skills are developed. Let us understand this concept with the help of an example. We will take the example of the behavioral trait: Key indicators are effectively transmitted to the senior management. The manager can only exhibit this behavioral trait if he knows what a key indicator is and what are the specific key indictors for his organization. This is the knowledge part of the behavioral trait. Without this knowledge he would never be able to effectively transmit the key indicators to the senior management, in other words he would never be able to exhibit the specified behavioral trait. On the other hand, in order to effectively shift through data and identify key indicators a manager should be able to comprehend data well and subsequently should be capable of analytical thought. If the manager has an evaluative bend of mind i.e. he is capable of critically evaluating information, can look for potential limitations and can focus on errors, then that automatically pushes him to improve his ability to think analytically and consequently improves his skill for this behavioral trait. Hence, as we can see, the personality traits of the manager naturally propel the manager to pursue and acquire these skills. The model shown below is a pictorial depiction of this trend. The knowledge is the base and the personality pushes the person to acquire the skills, which ultimately lead to better performance.

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Knowledge Knowledge OJT Skills Skills Personality Personality Performance Performance

Fig.1 The depiction and the explanation above tell us that it is imperative for the managers to have the basic knowledge required to exhibit the behavioral traits. It also shows us the role of personality of the manager in improving his skill level. As modification and measurement of personality factors is very difficult, we here aim to provide the manager with the tools to develop his knowledge and skill for specific behavioral traits. We shall look at individual competencies and aim to identify and provide tools for developing the knowledge required for the manager to exhibit those traits. Subsequently we shall identify skills and ways of acquiring those skills for the managers. The impact of the various personality factors on the various behavioral traits would also be discussed.

OBJECTIVES OF THE PROJECT

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 Create schedules for the managers to fill the gap between the actual competency levels and the levels desired by the organization. Give managers concrete steps and tasks to do in order to improve their competencies. Categorization of the factors affecting competencies and their degrees of significance so that managers could focus on the more important factors. Identification of personality traits which aid skill development, this way through OPQ profiling we can map a managers skill development capabilities.

METHODOLOGY

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 Each competency was taken separately and the significance of knowledge, skill and the personality factors on that competency were determined. This was done through a discussion with the HR managers in SRF Ltd. Researched and assimilated information about imbibing the knowledge, developing the skills and identifying the personality traits that aid in the skill development. Information was obtained through discussions with experts in various departments as well as the HR department. This information was compiled in the format as shown and described previously. Compile all the information and create a schedule which gives methods to develop knowledge, skill of the manager to be able to improve particular competencies.

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TEAM WORKING

Co-operates works well with others in the pursuit of team goals. Shares information and supports others.

Competency: Co-operates and works well with others in the pursuit of team goals. Shares information and supports others. Descriptor: Is an effective team player interacts with multiple interfaces within the organization as relevant. Coordinates with key interfaces within the organization; collates information from different sources and shares with his team members. An effective team player is very good at networking. He interacts with multiple people within the organization as relevant, so that the required information can be acquired easily and conveniently from the various sources as and when needed. Not only acquisition of this information is important, but also, sharing of this information with the team members is equally important to be an effective team player.

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Interaction with Multiple Interfaces

Acquisition of Information

Sharing of Information with team members

Effective Team Player

Knowledge High

Skills High

Personality Factors High

Descriptor: Is an effective team player interacts with multiple interfaces within the organization as relevant. Coordinates with key interfaces within the organization; collates information from different sources and shares with his/her team members.

Knowledge Good Database Knowledge of Roles and Responsibilities

Skills Influencing/Neg otiating skills Interpersonal skills 82

Personality Factors Outgoing Affiliative Emotionally Controlled Trusting

Knowledge: 1. Good Database An effective team player should maintain a good database of contact information of various sources within the organization. Contact information mainly includes Name Phone No. Address E-mail address

The above information can be acquired from the organization or from the person directly. For maintaining a good database the employee needs to have knowledge of Microsoft Access. 2. Knowledge of roles and responsibilities An effective team player keeps himself aware of the roles and responsibilities of the different people within the organization, that is, knowledge of who takes care of what. This is important so that the appropriate person can be contacted at appropriate time. The above knowledge can be acquired by always keeping the eyes and ears open to what is happening in the surroundings, and by interacting with more and more people.

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Skills: 1. Influencing/Negotiating skills It is the ability to facilitate positive dialogue with others, with the goal of resolving differences and reaching compromises. That is, working cooperatively with others to resolve issues that impede team success. Suggested Activities for Development Volunteer to negotiate a problem with other employees. Meet with someone whose negotiating skills you would classify as win/win. Find out what he/she does and apply what you learn to similar situations. When preparing for a negotiation, practice in front of your team members. Do some brainstorming and list a number of ways that you could act to influence a person then consider which are most likely to be effective. Ask for feedback from people who did not support an idea or proposal you developed. Find out what you could have been done to persuade them. Invite your team leader to observe you in a meeting where you will be negotiating or influencing a person or group. Ask for feedback. 2. Interpersonal skills It is the extent to which an employee gets along and interacts positively with co-workers. It is the degree and style of understanding and relating to others.

Suggested Activities for Development

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Identify someone who is good at listening and understanding. Spend some time observing what she or he does and says. Ask what he or she was thinking during the conversation and try to use the same reasoning in your next interaction and monitor the other persons response to it.

Over the next two or three weeks, pay close attention to the non-verbal cues of others when communicating with them. Determine what emotions are being communicated and check your assessment with the individual before acting on them. Assess your progress in understanding others.

Ask your team members for feedback on your interpersonal skills. Based on feedback, identify one specific behavior you will focus on improving during the next week. Repeat process periodically. Assess progress on behaviors you are trying to improve.

Once a week, walk around in your area. Ask team members how things are going; what difficulties they are having and what you can do to help. Revisit their concerns the next time you walk around.

If you are the team leader, ask each of your team members how your team can work more effectively with other team. Decide on a plan to implement some of their suggestions.

Personality traits: 1. Outgoing The employee should be lively and animated when interacting with a person or in a group, so that they feel good and pay attention while interacting with him/her. 2. Affiliative Also the employee should find it interesting to interact with people having different personalities and varying interests.

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3. Emotionally controlled The employee should be emotionally controlled while interacting with people, so that he/she keeps his/her personal emotions aside and does not mix them with professional life. 4. Trusting One needs to be trusting to share information. If one does not trust others than he/she would not share information.

Competency: Co-operates and works well with others in the pursuit of team goals. Shares information and supports others. Descriptor: Is willing to support his staff and encourages them to bring out their best. This descriptor is from the viewpoint of a team leader. The team leader should always be willing to provide the necessary support to his/her team members and help them, as and when they need his/her assistance. He should motivate them to give in their best to whatever they do. Knowledge High Skills High Personality Factors High

Descriptor: Is willing to support his staff and encourages them to bring out their best.

Knowledge Motivational Profile of Team Members Barriers Interests of Team Members Strengths and Weaknesses of Team Members Skills Leadership skills Training skills Interpersonal skills 82 Personality Factors Behavioral Caring Persuasive

Knowledge: 1. Motivational Profile of Team Members Motivational profile of an employee is an indicator of the factors that motivate him/her. The team leader should have knowledge of motivational profile of each team member. This knowledge can be acquired by tracking the performance of each team member under varying situations like In different work environments Performance under different tasks Performance in different teams with different kinds of people

Then by noting the situations in which his/her performance is low, appropriate actions can be taken to motivate him and improve his performance. 2. Barriers The team leader should have knowledge of the barriers which prevent him/her from supporting his team members, like Organization rules and regulations Time constraints Financial constraints

For this, he should assess various situations and find out where he could support his team members and where he could not. Then he should try to find out ways in

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which further support can be given to the team members in similar situations in the future. Also, the team leader should be aware of the barriers that prevent each team member from giving his/her best, like Inappropriate working conditions Sour relationships with team members Task may not be very challenging or interesting Personal problems

The team leader should then find out ways to overcome these barriers. 3. Interests of Team Members The leader should know about the interests of the team members, so that tasks can be allocated accordingly. It is an accepted fact that a person does a task best that is of interest to him/her. He can acquire this knowledge by observing the team members, by asking them verbally, or by asking them to fill a form. 4. Strengths and Weaknesses of Team Members This information is important so that the team members can be imparted the necessary training to overcome their weaknesses for their individual development, as well as for the betterment of the team. This will also help the team leader allocate work efficiently. The team leader can assign 'learning tasks' to help team members gain confidence before attempting the more demanding aspects of the project. The team leader can acquire this knowledge by observing the team members, by asking them verbally, or by asking them to fill a form

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Skills: 1. Leadership skills It is the ability to effectively manage and guide team efforts. It includes providing level of feedback concerning each team members individual progress, as well as feedback on teams collective progress. Suggested Activities for Development Ask for regular feedback on your leadership style from colleagues, managers and team members and employees. Arrange to have regular conversations with some mentors that are good leaders. Make a point of discussing specific issues, and model your behavior after the leadership mentors. Volunteer to facilitate a team meeting. Offer to stand in for your manager at a meeting. Develop and deliver motivational speeches about your teams successes to create positive morale. Delegate as much as possible and make challenging assignments available to everyone. Keep a journal of tasks that were delegated and their outcome. Provide feedback to team members or employees. Develop a presentation regarding vision of your team. Create a graphical image that reinforces the key concepts of your vision. Present your vision at a team meeting.

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Identify future trends and events that will impact the working of your team. Work with your team to develop strategies to meet future challenges.

2. Training skills It refers to the overall ability and concern for the development of team members. It includes taking steps to explain and provide guidance. Suggested Activities for Development

Schedule individual one-on-one time with each team member to the sole purpose of development. Focus on coaching and development, what is accomplished well and what could be done differently to be more effective.

Arrange to meet and work with people who are good at coaching and teaching others. Incorporate their methods in your own teaching style. Regularly share resources or information that you have researched or learned about for the benefit of the individual member as well as the team as a whole.

Become a mentor. Provide and participate in mock feedback sessions. Teach a course to address training needs of team members. Identify job assignments that will increase team members or employees exposure to different divisions and management experience. Identify initiatives in other areas that may provide development opportunities for others.

3. Interpersonal skills It is the extent to which an employee gets along and interacts positively with co-workers. It is the degree and style of understanding 82

and relating to others. Interpersonal skills play an important role here because they affect the way one interacts or behaves with people, or treats other team members. Respect comes as a part of the intrinsic values and beliefs which form a part of the interpersonal skills. Suggested Activities for Development

Listen to each other with an open mind without interruption. Pay attention to others. Practice active listening - To actively listen is to demonstrate that you intend to hear and understand anothers point of view. It means restating, in your own words, what the other person has said. In this way, you know that you understood their meaning and they know that your responses are more than lip service. Your team members will appreciate knowing that you really do listen to what they have to say.

Take key decisions based on reasoning not rank. See things from others side also - Empathy means being able to put yourself in someone elses shoes and understand how they feel. Try to view situations and responses from another persons perspective. This can be accomplished through staying in touch with your own emotions; those who are cut off from their own feelings are often unable to empathize with others.

Be appreciative - Find one positive thing about everyone you work with and let them hear it. Be generous with praise and kind words of encouragement. Say thank you when someone helps you, irrespective of ones level in the organization. Make team members feel welcome when they call or stop by your office.

Personality traits :

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1. Behavioral The team leader should be behavioral so that he analyses and understands the motives and behaviors of the various team members. It is only after understanding them that he/she would be able to provide them with the necessary support and guidance, in order to encourage them to give in their best. 2. Caring The team leader needs to be caring in order to support his team members. 3. Persuasive One should be persuasive and comfortable using negotiation so that he/she can change peoples views, and persuade them to give in their best and support you. Competency: Co-operates and works well with others in the pursuit of team goals. Shares information and supports others. Descriptor: Treats others with respect and as responsible individuals.

Team members should treat each other with respect, irrespective of ones level, position or department (in cross functional team). Respecting others involves understanding and appreciating individual differences. One should also respect and support other team members rights, thoughts and opinions. Communicating respect for other team members helps to reduce conflict and increase participation or assistance in obtaining information or completing tasks. For instance, in order to interrupt someone who is currently preoccupied with a task in order to obtain information needed immediately, it is recommended that one should utilize a deferential approach with language such as, "Excuse me, are you busy? I have an urgent matter to discuss with you if you have the time at the moment." This allows the receiving person to make his/her own judgment 82

regarding the importance of his/her current task versus entering into a discussion with his/her colleague. Also team members should have faith in the capability of each other. They should consider each other as responsible individuals and respect each others work.

Knowledge Low

Skills High

Personality Factors High

Descriptor: Treats others with respect and as responsible individuals.

Knowledge Talents and Inventories of Each Team Member

Skills Interpersonal skills Social skills

Personality Factors Trusting Emotionally Controlled Modest

Knowledge:

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Knowledge about talents and inventories of each team member Knowledge of talents and inventories of each team members is needed so that roles can be assigned as per each team members capability and personality. Defining roles among team members makes assignments more straightforward, helps to understand the decision-making process, and assures the task will be completed. One can acquire this knowledge by making a list of everyones skill sets, preference, work experience, courses taken, and interests. This can be done by observing the team members, by asking them verbally, or by asking them to fill a form. Once each team members capability is known respect for him/her automatically comes. Skills: 1. Interpersonal skills - It is the extent to which an employee gets along and

interacts positively with co-workers. It is the degree and style of understanding and relating to others. Interpersonal skills play an important role here because they affect the way one interacts or behaves with people, or treats other team members. Respect comes as a part of the intrinsic values and beliefs which form a part of the interpersonal skills.

Suggested Activities for Development

Listen to each other with an open mind without interruption. Pay attention to others. Practice active listening - To actively listen is to demonstrate that you intend to hear and understand anothers point of view. It means restating, in your own words, what the other person has said. In this way, you know that you understood their meaning and they know that your responses are more than lip service. Your

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team members will appreciate knowing that you really do listen to what they have to say. Take key decisions based on reasoning not rank. See things from others side also - Empathy means being able to put yourself in someone elses shoes and understand how they feel. Try to view situations and responses from another persons perspective. This can be accomplished through staying in touch with your own emotions; those who are cut off from their own feelings are often unable to empathize with others. Be appreciative - Find one positive thing about everyone you work with and let them hear it. Be generous with praise and kind words of encouragement. Say thank you when someone helps you, irrespective of ones level in the organization. Make team members feel welcome when they call or stop by your office. 2. Social skills Social skills are skills a social animal/human being uses to interact

and communicate with others to assist status in the social structure and other motivations. Social rules and social relations are created, communicated, and changed in verbal and nonverbal ways creating social complexity useful in identifying outsiders and intelligent breeding partners. Suggested Activities for Development

Remain relaxed, or at a tolerable level of anxiety while in social situations Regardless of how skillful you are in social situations, if you are too anxious, your brain is functioning in way unsuited to speaking and listening. In addition, if your body and face give the unconscious message that you are nervous, it will be more

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difficult

to

build

rapport

with

others.

Listening actively, while letting others know you are listening Good listening skills include: o Making 'I'm listening' noises - 'Uh-huh', 'really?', 'oh yes?' etc. o Feeding back what you've heard - "So he went to the dentist? What happened?" o Referring back to others' comments later on - "You know how you were saying earlier" o Physical stillness, eye contact and attentiveness while the other person is talking.

Empathize

with

and

take

interest

in

others'

situations

A major part of social anxiety is self consciousness, which is greatly alleviated by focusing strongly on someone else. A fascination (even if forced at first) with another's conversation not only increases your comfort levels, it makes them feel interesting.

Try

to

build

rapport,

whether

natural

or

learned

Rapport is a state of understanding or connection that occurs in a good social interaction. Rapport occurs on an unconscious level, and when it happens, the language, speech patterns, body movement and posture and other aspects of communication can synchronize down to incredibly fine levels.

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Rapport is an unconscious process, but it can be encouraged by conscious efforts. o Body posture 'mirroring', or movement 'matching' o Reflecting back language and speech, including rate, volume, tone, and words o Feeding back what you have heard

Know how, when and how much to talk about yourself - 'self disclosure' Talking about yourself too much and too early can be a major turn-off for the other party in conversation. Good initial small-talk is often characterized by discussion of subjects not personal to either party, or by an exchanging of personal views in a balanced way.

However, as conversations and relationships progress, disclosing personal facts (small, non-emotional ones first!) leads to a feeling of getting to know each other.

Make

appropriate

eye

contact

as

the

situation

demands

If you don't look at someone when you are talking or listening to them, they will get the idea that: o You are ignoring them o You are untrustworthy o You don't like the look of them Keep your eyes on the speaker while you are listening. Keep the following basic points in mind while interacting with someone:

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Verbal

Smoothness of delivery (lacks stuttering, awkward pauses, etc.) Intelligible speech (not too loud or soft, avoiding monotone but not dropping off the end of sentences) Using muscle words to help describe ideas in conversation. Variable tone (avoidance of a monotonous tone) Asking open ended questions Active listening Confident stance (standing up straight but not at attention) Relaxed manner (not too tense, not falling asleep) Body language in sync with the verbal message Leaning forward while talking Open stance (not close hands) Touching conversation partner (only where appropriate as this can be misinterpreted) Smile (Not overdoing it) Remembering and using names during the conversation

Non-verbal

Treat the conversation partner as your best frien

Personality traits:

1. Trusting Team members should see each other as reliable and honest and believe what the other says. Respect automatically comes when we trust the other person, and consider him/ her responsible. 2. Emotionally controlled To be an efficient team member one should be emotionally controlled and should not let his/her personal emotions affect the way

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he treats others. For eg. Personal dispute should not come in the way of respecting others work. 3. Modest One should not only respect and admire his/her own work or success but also of other team members. He/she should not feel jealous of others successes.

Competency: Co-operates and works well with others in the pursuit of team goals. Shares information and supports others. Descriptor: Gets his team members to participate effectively.

When working in a team a person is judged not only by results, but also by how those results are achieved. And, effective participation is the key to successful team results.

A good team player not only participates in the effective working of the team, but also encourages other team members whose participation is less to increase their input.

A good team player o provides encouragement, direction and inspiration to other team members o manages team relationships and smoothens them over the inevitable bumps in the road overcomes or eliminates any potential roadblocks to team success, such as, personality conflicts and territorial disputes within the team environment o minimizes conflicts by ensuring that the team is structured for maximum participation and collaboration.

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Team participation depends on an open environment, where new ideas are welcomed and cooperation and collaboration are encouraged. Leaders will need three communication skills to achieve inclusion. These are the non-assumptive question, good listening, and directed response. The team leader needs to set the stage - Plan for and create a team environment that welcomes and encourages active participation. If you want to achieve optimum team participation, you need to let your team members know what you expect, and what is expected from them. With that in mind, you can lay the foundation for open participation and communication through the following strategies and tactics..... o Be direct - ask for participation. o Define participation and set appropriate expectations - participation can come in many forms, depending on your team situation.... i.e. in meetings, workshops, memos, written comments and suggestions, etc. o Set the groundrules to encourage active team participation ... all ideas are welcome and every member is to be respected. o Push for participation from the very start. o Thank everyone for their contributions - often and visibly.

Lead by example - Turn theory into action by leading the way to effective team participation. As a team leader, you job is to lead, and to get the team to function as a cohesive unit. To meet this goal, you can follow a few simple steps centered around leadership by example.... o Avoid team domination ... your job is to lead, not to control. Even if you have all the answers, let the team dynamic play out.

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o Uphold the ground rules ... participation levels will rise when team members can see that all ideas are respected and given due consideration. o Ask open-ended questions to stimulate discussions. o Be sensitive to contentious situations .... team conflicts are unavoidable, but at a team leader you can diffuse tense situations as needed with a few strategic words and actions. For example, depending on the circumstances, you may choose to handle a conflict head-on, or you can table a difficult issue for a later time, when emotions have subsided. In any case, you should avoid isolated, off-side reactions to conflicts, and you should always be consistent in how you react to team conflict.

Knowledge High

Skills Medium

Personality Factors Medium

Descriptor: Gets his team members to participate effectively.

Knowledge Team Goals Team Mission and Vision Meeting Agenda

Skills Team skills Persuasive Communication skills 82

Personality Factors Democratic Persuasive

Knowledge: 1. Team goals Why has the team been formed and what does it need to accomplish? To cultivate optimum team participation, one must have a good handle on team goals and overall dynamic. As such, one should be prepared to answer the following questions Why has the team been formed e.g. for a project, to solve a problem, or to brainstorm? How large is the team - should it be broken up into smaller sub-groups to foster participation and communication? Who all have been assigned to the team, have they worked together in the past? Do you anticipate any internal conflicts or political situations?

2. Team mission and vision - The driving force behind every team is a clear mission and vision. A mission is the task at handwhat the team doesits purpose for existing. A vision is a mental image of a possible and desirable future state for the team that is better than what now exists.

The team leader needs to ensure that all members of the team share a common understanding of the mission and vision, and have great clarity of how their mission and vision support those of the larger organization. He or she also needs to understand the (sometimes private) aspirations of all the team members to encourage them to participate.

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3. Meeting Agenda To encourage maximum participation from team members and for the meeting to be effective and useful, the meeting agenda should be clear and well communicated to all. For the meeting to be effective, following steps should be followed: Before scheduling any meeting, first consider the necessity of the gathering, as well as any alternative methods for sharing information and gathering feedback. Assuming that the meeting is necessary, the team leader should quantify objectives, and compile a meaningful agenda, one that promotes an engaging and interactive meeting. Before the team meeting, the leader must circulate/communicate the list of issues to be discussed (the agenda), and remind team members when and where the meeting will be and what to bring to the meeting. The leader should then establish appropriate expectations for active participation and give the attendees fair warning of what is expected from them, as well as what they can expect from him/her. A clear agenda would help the team members prepare for the meeting. The team leader should write notes at the team meeting, note what has been decided, and who is responsible for actions (work) arising from the meeting. Skills: 1. Team skills Team skills refer to the ability to effectively work and complete

assignment in-group settings. An employee with good team skills works cooperatively with other to achieve common goals. Team skills can be developed by

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Suggested activities for development Work with people you do not normally work with or do not know very well. Volunteer to participate on a project that will require a high level of crossfunctional teamwork. Keep a record of all your involvement in committees, meetings, and informal team activities for a period of time. Work to increase the involvement and keep track. Each week, volunteer to help at least one person in your work unit or department. Volunteer to summarize notes from team meetings and send them to all team members. Create a system where employees can recognize each other for good work. Devise a plan to create team spirit in your work unit or department (e.g., organize informal team get-togethers, contests, parties, team chants, impromptu celebrations or participate in community service activities, etc). Recognize team members contributions at each team meeting. Make a habit of asking people who do not normally work together to work on projects together. As a team building exercise, have each team member describe how each person contributes to the team uniquely. Make a list for each person to show the differences and likenesses of all team members. Seek feedback from your manager and staff regarding your team management techniques. Work to improve problem areas. Work with team members to create or refine the teams mission statement.

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Identify a critical issue within your organization. Volunteer to lead a task force to solve the problem that involves people from different departments.

Work with a manager or co-worker who has effectively managed teams to develop your skills in this area. Identify a current obstacle that is impeding your team from working effectively. Determine the root causes and possible solutions. Share your ideas with your manager. Develop a plan to implement the solutions you have identified. Monitor the results.

Facilitate a group discussion with team members to solve a problem in your work unit or department.

2.

Persuasive Communication skills It is the ability to alter beliefs, attitudes,

intentions, or behavior of others by the conscious and unconscious use of words and nonverbal messages. Persuasion involves motivating listeners to accept a new idea, alter an existing opinion, or act on a given premise. Suggested Activities for Development Always try to have a clear understanding of the audience and an intense listener focus. The speaker must take the audience through five stages of understanding in a persuasive speech: o awareness of the team goals o understanding the team goals by showing how the team goals affect the audience o understanding the proposed way to achieve those goals

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o visualization of the effects of the results to guide the audience into imagining how the achievement of team goals would be beneficial to them o understanding how they, the audience, must act indicating what actions, individually and collectively must be taken. Use persuasive appeals of credibility, logic and emotion to mobilize the audience towards achievement of goals. Personality traits : 1. Democratic A good team player should consult widely, involve other team members in decision-making, and invite participation from all. 2. Persuasive One should be persuasive and comfortable using negotiation so that he/she can change peoples views, and persuade them to give in their maximum participation.

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QUALITY ORIENTATION
Committed to the achievement and maintenance of quality; sets high standards of performance to meet customer requirements. Competency: Quality Orientation Committed to the achievement and maintenance of quality; sets high standards of performance to meet customer requirements. Descriptor: Keeps to the TQM practices. TQM (Total Quality Management) is a Japanese approach towards quality improvement. It is a management approach for an organization, centered on quality, based on the participation of all its members and aiming at long-term success through customer satisfaction, and benefits to all members of the organization and to society.

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The Total Quality Management (TQM) paradigm focuses on elimination of causes of defects and, thereby, improves quality of systems, products, and services. Enhancement of quality leads to total customer satisfaction. TQM requires that the company maintains quality standard in all aspects of its business. This requires employees to ensure that things are done right the first time and that defects and waste are eliminated from operations.

TQM Based Initiatives: Standards Kaizen 5S Daily Management Autonomous Maintenance QC circles Problem Solving

Projects in own areas for maintenance and improvement in quality

Better quality

Higher level of customer satisfaction

Knowledge: Effective implementation of TQM requires knowledge about the following mechanisms: 1. Standards for the job Work Instructions Procedures

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Guidelines Regulations Process documents and work flows Production standards Safety, health, and environment (SHE) regulations Quality assurance (QA) regulations.

2. Kaizen For details on KAIZEN refer to Kaizen Manual version 3.0. 3. 5Ss For details on 5S refer to 5S Manual version 1.0. 4. Daily management For details on Daily Management refer to TQM Basic Course. 5. Quality Circles For details refer 16 QCC manual version 2.1. 6. Domain Knowledge - Domain knowledge is knowledge about the specific environment in which the employee operates. The requirements for domain knowledge differ from employee to employee. Domain knowledge can be acquired from users in the domain (as domain specialists/experts) or by working in the domain. However, the problem arises when the domain expert is not skillful in communicating the needs or does not know how to determine those needs. An effective method for developing and refining knowledge about a particular domain is by creating a repository of project experiences. Subsequent projects can then benefit from these experiences by locating similar projects and reusing the knowledge accumulated in the repository.

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7. PDCA cycle For details refer TQM Basic Course Band OA. 8. Problem Solving Process Refer TQM Basic Course. 9. Autonomous Maintenance Refer Autonomous Maintenance manual.

Skills: 1. Problem solving skills Refer above. 2. Observation skills Refer above. 3. Learning skills Learning skills refer to the desire and effort to acquire new knowledge and skills for work. It is the concern for the acquisition of new job knowledge. Learning skills can be developed by 1 Ask the manager and/or colleagues to point out sources of information that can help to increase knowledge in a particular area. Review the information and share the learning with others. Commit to reading professional journals, books, and articles that will expand the knowledge in a particular area. Regularly view the organizations website and/or intranet. Volunteer to accompany and/or stand in for the manager at meetings. Keep abreast of new legislation. Sharing with others how it impacts the work unit or department.

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 Make a list of areas that the employee would like to know more about. Identify specific steps you can be taken to enhance knowledge in these areas (e.g., reading books, attending classes, talking to experts). Become an active member in a professional or community organization. Ask someone to become your mentor. Ask for feedback when working on projects and keep a journal of the feedback that you receive. Then identifying trends that reveal areas for improvement and devise a learning strategy to develop skills in these areas. Teach yourself how to use software programs that will help on the job. Attend meetings in other work units or departments to learn more about what they are working on. Volunteer to work on a project outside of your work unit or department. Join an online discussion group or participate in roundtable discussions on a topic in your field. Implement a Lunch and Learn program where your colleagues can share information about what they have learned in their field every month. Develop a new concept that would impact the industry and develop a plan to support its implementation Establish professional goals and develop a personal learning agenda, which includes specific steps needed to accomplish these goals. Personality: 1. Rule Following For effective implementation of TQM an employee needs to be rule following. That is, he needs to follow rules and regulations, set clear guidelines, and should not easily break rules. The employee needs to be disciplined.

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2. Data Rational Implementation of TQM requires the employee to deal with a lot of data. So, the employee should enjoy working with numbers and analyzing statistical information, so that the decisions are based on facts and figures. This avoids any random decisions on the part of employees. 3. Evaluative TQM implementation requires critical evaluation of information, so that the potential limitations and errors are identified, and the various actions needed for improvement are taken. 4. Conceptual A proper understanding of the concept of TQM is crucial to effective implementation of TQM. It requires the employee to have interest in theories and abstract concepts of TQ M. 5. Detail Conscious It is important for the employee to focus on minute details, for focused improvement so that corrective actions can be taken wherever needed. Also the employee must follow a methodical, organized and systematic approach to work for TQM implementation.

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CHAPTER II REVIEW OF LITERATURE

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LITERATURE REVIEW
In todays competitive corporate scenario where there is a minimal level of differentiation between organizations, what makes a big difference in business success is the productivity and efficiency of the human resource of the organization. Organizations are consistently striving to develop business leaders who can lead them to business success. Competency identification and development are means to an end, which can be termed as High Performing Organizations. These business leaders can be developed in the depicted manner-using competency as a base:

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Leadership development Succession Mgmt A position with A person.

Talent Management

Performance Management

Competency Management

Fig 1.1 Leadership Pyramid

High Performing Organizations are the ultimate end we have talked about above and are result of various high performing individuals and well-tuned systems working together. The leaders and systems interact at various levels in the manner described in the model below.:

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Performance Management System

SBP

Talent Management System

Talent Pool (Leadership Pipeline)

HPO

Potential Assessment through Competency system

Execution Excellence

Fig 1.2 Model For HIGH PERFORMING ORGANIZATION

Within a Business context and specific to a company, Competency describes a specific set of behaviors, which have been found to lead to superior Job Performance. The behavior is based upon an individuals knowledge, skills, personality, values and motives. Competencies are recurrently defined in clear displayed behavioral terms and are possible to be observed in day-to-day work. To take an example, someone who is a successful leader could be observed to Provide the team with a clear sense of direction, take charge, organize resources and steer others towards successful task completion. These behaviors can be clubbed into a cluster and the whole cluster can be termed as Providing direction which is a subset of Leadership Competency. The following ICEBERG analogy brings a deeper understanding of the term COMPETENCY. An individual brings with him a set of skills, attitude and knowledge etc, which is in various combinations; enable an individual to display certain behaviors. Skill and knowledge makes the smaller segment and are relatively easier to observe and develop whereas the deep underneath elements of attitude, talent, values are difficult to

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observe and develop. Together all these interact to help deliver effective or ineffective behaviors in job situations.

Fig 1.3 The Iceberg Analogy

Competencies always include an intent, which is the motive or trait force that causes action toward an outcome. Intent Personal Characteristics Action Outcome Job Performance

Behavior

Competency therefore is defined as: Competencies are sets of behaviors that are instrumental in the delivery of superior job performance

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In other words competencies are the How of performance vis--vis goals and targets, which are the What of performance. They are important because they provide employees with a roadmap of the kinds of behaviors that will result in excellent performance. When organizations know the competencies required for excellent performance in a job or role they can select and develop employees to perform with set of behaviors leading to superior performance.

Research has shown that competencies are those behaviors that Excellent Performers exhibit much more consistently than average performer.

It is sometimes debated that whether intelligence quotient is a true indicator of job performance. However a number of studies across the globe have shown that only high IQ does not lead to superior performance. In managerial and leadership roles IQ, EQ, SQ, LQ etc lead to competency behaviors leading to superior performance and success. David C McClelland, professor at Harvard University, laid the foundation of the competency movement with the publication of his seminal paper Testing for Competence Rather Than Intelligence. This article questioned the practice of accepting IQ as the criteria for selection and prediction of job performance and stressed on the need for identifying and developing competencies for superior job performance.

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CHAPTER III RESEARCH METHODOLOGY

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Introduction
The present research study sheds light on the effectiveness of training and development activities in the reputed manufacturing company in Gurgaon. The chief objective of the study is to find out the effect on the employees who undergo training and development activities conducted by the organization under research and the present chapter deals with the methodology followed for discovering the objectives, Collection of the data and analyzing the same for arriving at the conclusion.

TOPIC OF RESEARCH AND ITS IMPORTANCE

The topic of research is Evaluation and Effectiveness of Training Activities in HRD essentially aims at improving the performance of employees through systematic training, career development and thereby organizational development. It is evident that if HRD issues are not properly handled, then organization may face decreased performance and may start a slow decaying. Productivity may suffer and cultural clashes may increase. Employees may suffer low skills and low knowledge. Attracting and retaining talent becomes difficult task for the organization. It is also true that successful outcomes are possible only with the quality of the training provided to the employees. It is equally important to assess the need of the training, the nature of the training provided, the methods and the selection of the training programmes and ultimately evaluation of the training programmes are important for the sound health of the organization. It is worthwhile to note that training offers many benefits to employees and to the organization as a whole. Employees become more confident, open to change and supportive of each other. In addition, employees are motivated to achieve improved performance as a 153result of training. The benefits employees gain is personal, career oriented and job related knowledge. The availability of training to the employees make them committed for achieving performance and develop strong relations with the organization and stay longer in the organization. The automobile sector is people based 82

industry where the end product is often produced by a number of employees together delivering the end product for organization and customers. Management of labor intensive industries face daunting task to measure the potential variability in the performance of the staff involved in the end product. Therefore the significance of appropriate training activities for all business within the auto sector is of considerable importance. As training & development practices have the potential to increase the service levels in the industry, organizations want to work out cost and benefits of training and development. Therefore the purpose of this study is to analyze the Training & Development activities within SRF Ltd., one of the leading manufacuring companies, located in Gurgaon identifying T&D systems, its evaluation and its effectiveness on employees and organizations and their performance. To achieve this objective, the study has identified the literature and published studies as best practices in the area of training and development.

RELEVANCE OF STUDY
The share of manufactruring and service sector in the increasing of GDP of any country is noteworthy. It is important in a way that it is the sector providing maximum employment to the people, directly and indirectly. This sector has tremendous competition and faces challenges from the market. Advancement in the information technology, the increased use of computer aided designs and quick exchange information has made paradigm shift in the business being conducted. Segmented markets, greatly diversified customers have had great impact on the customers choice. Therefore to remain in the competition, it is assumed that the people in the organization play the essential role to build the organization. And to build the world-class organization, the HRD intervention, in the form of continuous training & development is required. Literature on training & development is very rich in the form of many books and many journals. But after going through many books and articles it was worth

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investigating whether the result of the efforts of the training and development practices have been undertaken. It is also essential to note the training as process efficiency. There are number of organizations where this kind of support is not provided to the employees in spite of National policy that training has to be provided to the employees to increase their skill sets and to gain through the training strategies. The organizations now have understood the importance of providing the training to their employees so as to get the edge in the area of competition. There is now growing recognition that training has significant role in gaining competitive advantage. Extensive research undertaken within human resource area has found that majority of the organizations engaging in innovative practices include training and development as key elements to attaining best practices.

OBJECTIVES OF THE RESEARCH OBJECTIVES

The following objectives have been framed for the present research. 1) To review and analyze training activities conducted by selected manufacturing company. 2) To check the effectiveness of training activities from the view point of trainees.

HYPOTHESES
The study is intended to test following hypotheses: 1) Selected automobile company adopts systematic approach towards its training activities. 2) Training activities conducted by the selected automobile company prove beneficial to the trainees and help in increasing their effectiveness.

TYPE OF RESEARCH
Post Facto Research methodology is used in this research. This consists of mainly a

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descriptive style investigation to find out effectiveness of Training & Development system. The present research study is descriptive by nature and therefore, data are collected from both primary and secondary sources. Secondary data were collected through comprehensive literature review and internet. Other secondary sources included previous studies, journals, reports, magazines, newspapers and books. The primary data were collected from field visits of various units carrying out training and development programmes.The present study is also empirical and analytical therefore it relies on observation, interviews and survey.

SOURCES OF DATA
Collection of data began when the research topic was finalized and research plan was chalked out. The subject being very important from the view point of Human Resource interventions in the organization it was essential to collect data very methodically. Data which was collected had a mix of primary data and secondary data. Primary data is very significant which decides the framework within which the research is to be carried out. The secondary data is to support the primary data. The primary data was collected through opinion survey and main survey. Opinion survey was through questionnaire where as main survey was through questionnaire, observation in the factory under research and through interviews with the participants as well as with the HR manager of the organization under study. The research methodology followed was as below. 1)In order to check the relevance of the topic, detailed discussions were undertaken with the HR managers of the various companies. 2)Taking above discussions with the HR managers of various companies as a base, the questionnaire for Opinion Survey was designed. The opinion surveys were conducted where the respondents were HODs of HR department of companies in and around Gurgaon. The sample size was 50 companies.

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This opinion survey gave lot of insight to researcher about the managements perception about training activities in their organizations and its effectiveness. 3) The researcher thereafter made a point to have few more discussions based on the opinion survey which proved to be groundwork for designing main questionnaire.156 4) The pilot study was done with about 40 respondents in the company under research. 5) Researcher had opportunities to attend few conferences on HRD, titled HRD Challenges, HRD Issues, HRD Interventions, Changing Paradigm in HRD, Perspectives in People Management, etc. held in various institutions in and around Gurgaon during the course of research. This was instrumental in bringing improvement in the main questionnaire. What was understood from the deliberations of these conferences and seminar that sustainable organizational excellence is achieved through identifying, selecting and cultivating employee training strategies, which would be instrumental in superior performance. Excellent organizations reveal that the infrastructure of human resources systems and processes for the successful organizations is a consistent assessment, planning training and development tools and, methods. This means that performance appraisal, assessment of potential, competency evaluation, career planning, training and development, selection and, compensation must be linked and act in cohesion for effective use. Companies must therefore make training interventions for talent management a top priority - create and continuously refine their employee value proposition, and source and develop talent systematically by effective training methods.

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PRIMARY DATA Survey

The development of questionnaire was very crucial as it is an instrument on which the whole research study is based. While gathering the data, structured open ended interviews were conducted. It was explained to them that the participation in the interview is purely 157 voluntary and the response would be used purely for academic and research purpose. It was therefore, agreeable for the participants to come out with suitable answers. This was a base for framing the questionnaire as few words and questions which would be ambiguous would make the research study without right results. A ten minutes interview with each employee was undertaken to find out their perception about training activities carried out in their companies. The interviews were conducted considering convenient time for the participants. To make the response easier and simple multiple choice questions were framed. Initially opinion survey questionnaire was prepared so as to prepare a base for main questionnaire.

SECONDARY DATA
Secondary data was compiled from different books, and articles from magazines, newspapers, journals and periodicals, through seminar proceedings and websites to formulate the conceptual framework Secondary data was helpful in defining objectives and formulating hypotheses. The abundant literature on training and development helped in understanding major issues and insight and was helpful in having in-depth understanding.

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CHAPTER IV DATA ANALYSIS & DATA INTERPRETATION

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ANALYSIS
The Chemical intermediary business depends a lot on the economic conditions. That holds true for its TTB, CPB & PFB business also. As the economy improves the auto sales increases which increase the demand for Nylon cord and vice versa. Currently with the Economic crisis and with reduction in Auto sales, the demand for its products particularly TTB are on a decline. SRF has been investing extensively in expansion overseas as well as in Research and Development, which is very crucial for any chemical manufacturer. SRF has been developing new products for automotive and electrical industry. R&D products from TTB unit is being used by a leading European manufacturer. Its R&D department holds about 20 patents including 8 new process patents. This gives it a Competitive advantage in terms of efficiency as well as leading to widening profitability. The Nylon tyre cord and Metallizer plant in Thailand will help SRF to take advantage of the huge automobile manufacturing market in South- East Asia region. The acquisition of South Africa plant will give SRF access not only to Africa but also to South America as the shipping time between South Africa to Brazil is just 10-12 days. The huge population and un-captured market of Bangladesh provides SRF with the opportunity to take advantage of this. Nylon Tyre Cord is used in manufacturing the tires of heavy vehicles used particularly in mining industry. Nylon tyre cord consists of around 18-20% of the total raw material used in manufacturing any tyre. Now with growing demand for radial tyre in LCV and Passenger cars, SRF has now focused its attention building Polyester Tyre Cord Fabric (PTCF) used in making radial tyre. Right now SRF is the only manufacturer of PTCF in India, which gives it an opportunity to capture an unclaimed territory.

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SRF is now shifting its focus from TTB which contributes close to 50% of Total revenue to reduce the firms dependence on a particular category. So the majority of investments are going to Chemical & Packaging films business. The expansion of various businesses will lead to reducing cost per unit. In addition to reduction of cost, it would help them to grow the revenue tremendously by entering into Africa, South East Asia and South America. The R&D facility helps it to make the processes better and reduce the manufacturing cost. The Gutka ban in various states in India has led to the drastic decline in their Packaging business. SRF had been manufacturing the packets for Gutka. Currently with Gutka being banned in 14 states, it has reduced their PFM revenues to a large extent. The operating margin of this unit has been dwindling. The Input cost has been increasingly reducing the operating margin. The rupee depreciation has led to increase in the import cost, as over 40% of raw material is being importer. The rupee depreciation has also led to the appreciation of the other currency relative to rupee. Therefore the revenue earned by foreign subsidiaries faces a forex loss while converting it to rupee. Its CER project (Certified Emission Reduction) was registered on December 2005 by UNFCC. CER or Carbon Credit is earned by the firm by destruction of Hydroflurocarbon-23. This CER is then sold in the market for over Euro 20/CER contributing over 10% of total revenue. This license is going to expire in 2015. Revenue Outlook 1. CERPioneer in destruction of Hydrofluorocarbon-23. SRF was the 2nd company globally to undertake this initiative. Carbon credit earned as per the Koyoto protocol to reduce emission of Greenhouse gases is sold in the market. Strong demand for carbon credit in Europe and USA. It contributes over 10-12% to the total revenue. 1 carbon credit earns over Euro 20. But the CER license is going to expire by 2015.

CER revenue as a percentage of Net Sales

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CER sales Net Sales Percentage

FY2010 25955.9 218107.76 11.90%

FY2011 13698.1 298606.27 4.59%

FY2012 43972.72 351272.75 12.52%

2. TTB With the acquisition in Thailand, SRF will have access to the huge automobile industry in South East Asia. This would lead to the increase in revenue. But with economic slowdown, the auto sales might remain dull which would affect Nylon Cord sales. As the Economy improves, SRF would make use of this and it would lead to huge revenue jump. The South African plant as well the expansion in Indian plants would further add to the revenue. According to a report by the Textile Commissioner of India the TTB business is one of the fastest growing sectors of global textile industry where SRF has a large global market share. 3. CPBSRF has commissioned a multipurpose Chemical plant in Dahej, Gujarat in July 2012. It is expected to start production from 2014-15. The refrigerants business comes under this category. The fluorospecialities produced here are used in the pharma industry. 4. PFBThere was a drastic increase in the revenue of PFB business in 2010-11. But since then its revenue has been on decline because of the ban on gutka in 14 states. In addition the economic slowdown has also played its part. The BOPET plant in Bangladesh is going to bring in the revenue. According to a report by the Textile Commissioner of India the Packaging Business is expected to grow by 13% yoy for the next 5 years. SRF with its plants and R&D facilities can take advantage of this and increase the revenue for this category. SRFs PFB has a strong presence in European union, Americas, Australia and New Zealand, Middle east, Russia and Africa. SRF has been further expanding its presence.

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5.

Competitor Analysis
SRF Net Sales Net profit Net Profit margin Operating Profit Operating profit margin Return on Asset Return on Capital employed DSO Interest Coverage Ratio Debt/ Equity CMP EPS P/E Cost of Raw Material As a % of Net sales 351273 38738 11.03% 80361.35 22.88% 10.75% 12.12% 374.48 6.44 0.47 212.85 65.55 3.25 57.54% Indorama Synthetics 318102 3823 1.20% 11180.00 3.51% 1.82% 1.90% 241.34 2.46 0.73 25.10 2.11 11.90 71.64% Century Enka 164951 878 0.53% 9950.00 6.03% 0.90% 1.08% 215.81 1.33 0.51 134.50 4.02 33.46 74.73% JBF 438332 4878 1.11% 23582.00 5.38% 1.44% 1.64% 281.79 1.23 1.36 126.05 6.63 19.01 80.86%

As we can see from the chart that SRF has way better margins than its competitor with its Net Operating Margin over 11% and the closest one can get was Indorama Synthetics with a Net Operating Margin of 1.20%. For Operating Profit Margin SRF still leads the pack with a margin close to 23% which is over 16% better than its nearest competitor Century Enka with an operating profit margin of 6.03%. The Cost of Raw material used as a percentage of Net sales shows that SRF is left with a large percentage of Gross profit to deduct various costs, thus increasing the Net Profit. Whereas for its competitor the average cost of Raw material is over 75%. This advantage would be because of utilizing higher capacity or higher efficiency of its machines which has been improved due to R&D facilities of SRF. The backward integration have also been key to reduce the input cost.

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The same holds true for Return on Asset (ROA), Return on Capital Employed (ROCE), Interest Coverage Ratio, Debt to Equity Ratio and EPS. This shows that it has some Competitive Advantage in terms of operations. But even then it has not got the attention of the market and thus highly Under Valued. The average P/E for these 4 companies comes to 16.9. If SRF is to be valued at this P/E with the trailing 1 year EPS, the Stock Price comes to Rs 1108.

Discounted Cash Flow Analysis

I also have done a DCF analysis for SRF for the period 2012-17. I believe the assumption taken by me is quite conservative in nature. For this calculation I have taken into consideration: 1. The Economic slowdown

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2. Rupee depreciation 3. European Crisis 4. Increasing Input and Energy costs 5. SRF R&D developments 6. CER certificate expiration by 2015 7. SRF expansion in India, South Africa, Thailand and Bangladesh 8. SRF market share 9. Textile industry growth rate 10. Packaging business growth On doing the calculation the Equity Value of each share comes to Rs 381. To see how I have come to the value please go through the Excel Spreadsheet

6. Backward integrationIt helps a firm to reduce the Input cost, Transportation cost etc SRF has also been backward integrating. They are now producing the raw material that they require for their products. It has its own polyster industrial yarn unit. The Packaging Films Business of SRF is fully supported by backward integration into PET resin manufacturing plant from Aquafill (Germany). 7. Share buyback--SRF bought back 3083080 (5.1% of Outstanding shares) shares from the open market at an average price of Rs 291.89.The promoters now have 49.1% of total share. SRF is continuously buying share from the open market. This is a positive sign as the business has faith in them and they might be coming up with something in the future. 8.

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Acquisition & Investments--1. Thai Baroda Industries Ltd, Thailand Acquired it for Rs 100 Crores in September 2008. This acquisition increased Nylon Tyre cord fabric capacity by 12000 tonnes making it the Second largest manufacturer in the world. SRF also spent 290 crores on a Metallizer with a capacity of 7050 tonnes 2. Industex Technical Textiles, South AfricaIt is a manufacturer of belting fabric with a capacity of 3500 tonnes. SRF acquired this company in 2008 and has renamed it as SRF Industex Technical Textiles (pty) ltd. It gives an opportunity to SRF to enter the African continent and make use of the mining industry there. 3. Investment in Laminated Fabrics facilities in Kashipur. 4. BOPET Plant , BangladeshIn 2011 SRF approved the plan to start a BOPET plant (polyester) in Bangladesh. It is 80:20 joint ventures with Nitol Niloy group. The capacity for this plant would be 28500 TPA. 5. Multipurpose chemical plant in Dahej with an Investment of Rs 250 crores It was commissioned on July12. There would be three projects- Flexible Multipurpose, Intermediate Specialty plant and Captive power plant. 6. In September 2011, SRF capitalized and commissioned the increase in capacity of Coated Fabric unit by 72 lakh per meter square at Gummidipoondi 7. SRF Global BV, a wholly owned subsidiary of the Company incorporated in the Netherlands had set up SRF Flexipak (South Africa) (Pty) Ltd., a step down subsidiary incorporated in South Africa for setting up a packaging film line (25,500 TPA) and a metallizer (5400 TPA)

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9. Market Share --1. Second largest Manufacturer of Belting fabric in the World, having a 60 % market share in India. 2. The Nylon 6 tyre cord business has 36% market share in India 3. SRFs Refrigerant gases have 40% market share in India. 4. The Packaging Films Business of SRF is using weaving machine from Dornier (Germany) and has become the Second largest thin PET film manufacturer in India with current total capacity of 60000 MT/annum. Risks--1. Raw Material Prices 2. Cyclic Nature of various businesses 3. Foreign Exchange risk

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Sales According to Products

As we can see from the graph, Nylon cord is the biggest business of SRF. The revenue from its Nylon Cord business is close to 40%. It is followed by Packaging Film business and then the Fluro chemical business.

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Sales according to Products 2012 2011 Synthetic Cord 5.89% 5.32% Nylon tyre cord 38.23% 40.68% Laminated Fabric 3.35% 1.57% Nylon Chips 4.21% 4.14% Fluorochems 18.21% 8.49% HFC 134a 4.46% 3.16% Gypsum 0.09% 0.08% Hydrochloric Acid 0.21% 0.40% (By Product) Chloromethanes Fluorospecialities Chemicals Packaging Films Traded goods Wastage 11. 1.94% 3.73% 19.12% 0.21% 0.35% 2.51% 2.92% 29.68% 0.46% 0.59%

Raw Materials
The input cost has been on a rise. Around 40% of the total raw material is being imported. The rupee depreciation has been adversely affecting the input cost. The importers in India have to pay a higher amount for the same raw material, thus reducing the Operating Profit. Raw Material contributes to 70% of total tyre industry turnover which shows its significance. Nylon tyre cord contributes around 18-20% of raw material in order to manufacture any tyre.

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As the graph suggests Caprolactum is the largest used raw material for SRF with a percentage of over 35. Caprolactum is the primary raw material used to manufacture Nylon 6.Caprolactum price is on a rise because of the increasing price of Benzene used in the production of Caprolactum. The other major raw material is polyester chip.

Note: 1. Beta value- Obtained after Regressing the returns of SRF with Nifty for the period of April 1,2009 to November 20,2012. 2. EPS : 3 year average EPS is taken to give a clear picture of firms performance for a considerable time period. 3. The Revenue earned through the sale of CER can be found at http://cdm.unfccc.int/Issuance/cers_iss.html All the Data has been collected from the A

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CHAPTER V

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CONCLUSIONS, RECOMMENDATIONS & LIMITATIONS

RECCOMENDATIONS
Descriptors need to be revised as some are overlapping and vague. They should be made more specific. Also a few descriptors need to be included: o Team Working Group Think Team Cohesiveness

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The 32 personality traits given do not cover all personality aspects. Some more traits need to be added. Some traits that cover the following aspects should be included o Enthusiasm o Confidence o Commitment o Empathetic o Flexible o Helping

LIMITATIONS OF THE STUDY

The information given in the above part is based on market survey, meeting with the people, and phone calls, and the other medium like internet and browser of HDFCSL. My project is based upon the interaction with the people for the purpose of recruitment of Financial Consultant. My study is totally based on the perception of the people that what they think about the insurance when someone offer him to work in the insurance sector. I analyze that the person who is needy for money, greedy about fast life and believes in speed join insurance because this sector gives you a platform for unlimited earning and life time earning like life time validity in mobile phone.

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REFERENCES
BOOKS:
Competency at Work (By Spencer & Spencer) Interpersonal Skills Training (By Philip Burnard) Leadership Skills Training (By Elizabeth M Cristopher & Larry E Smith) Problem Solving Skills (By Mike Robson)

INTERNET LINKS: http://www.google.co.in/search?hl=en&q=personality+traits&meta= http://www.squarewheels.com/scottswriting/empower.html satisfaction) http://www.confirmit.com/solutions/survey/customer_satisfaction/ http://www.nbrii.com/blog/10FactorsThatAffectCustomerSatisfaction.aspx (customer

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http://search.bnet.com/search/customer+satisfaction+and+process+improvement+ and+quality+management+system.html http://www.businessballs.com/crmcustomerrelationshipmanagement.htm http://www.instam.org/files/rrm/QUALITY_MANAGEMENT_AND_CUSTOM ER_DEMANDS.pdf http://www.learner.org/channel/workshops/missinglink/pdf/tools3.pdf http://www.leadershipadvantage.com/tskills.shtml http://www.teambuildinginc.com/tps/020c7.htm http://www.trustedleader.org/team_values_g.asp?page=75 http://en.wikipedia.org/wiki/Teamwork http://sbinfocanada.about.com/od/businessplanning/a/bizplanningpr.htm

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