Latin influence in America social and cultural differences in Business Essay

Latin influence in America social and cultural differences in Business - Essay Example With regard to them, inside cohesiveness is important in that they want to guarantee that there are no betrayals within business. Apart from these attitudes of loyalty and brotherhood in a business, they also tend to have a sense of fair competition which is achieved through agreeing with the competitors and setting the standard of competition. These cultural attitudes towards business are founded on the earlier foundation of Latin business which would be more included to mafia like associations with string completion which went beyond just business competition. Americans have a different culture with regard business which conducts open competition, open membership which mean that the associates of a business do not necessarily have to be close members. Dogmatic loyalty is not necessary as the business are driven by a common agreement which is professional and written on paper as per the ay the business is supposed to be run. The Latin culture has been regarded by Americans as wrong and not good for business. It has also influenced American business in a number of ways. To begin with, most of these businesses have also invested in the American economy. Most mafia-like organizations which are of Latin origin and run in accordance with Latin culture can be seen as establishing their businesses in United States America. Unlike in earlier days where such businesses would operate unofficially and in most cases illegally due to their nature which was more criminal than anything else, today most of these businesses can invest in legitimate businesses such as the real estate (Forbes, Inc). In the modern America, these mafia-like busses own a substantive amount of the real estate wealth in major cities such as Los Angeles. They are able to operate legitimately and to have assets that are legal. This has influenced the way business is done in America, especially

Difference Between CML and SML Essay Example for Free

Difference Between CML and SML Essay CML stands for Capital Market Line, and SML stands for Security Market Line. The CML is a line that is used to show the rates of return, which depends on risk-free rates of return and levels of risk for a specific portfolio. SML, which is also called a Characteristic Line, is a graphical representation of the market’s risk and return at a given time. One of the differences between CML and SML, is how the risk factors are measured. While standard deviation is the measure of risk for CML, Beta coefficient determines the risk factors of the SML. The CML measures the risk through standard deviation, or through a total risk factor. On the other hand, the SML measures the risk through beta, which helps to find the security’s risk contribution for the portfolio. While the Capital Market Line graphs define efficient portfolios, the Security Market Line graphs define both efficient and non-efficient portfolios. While calculating the returns, the expected return of the portfolio for CML is shown along the Y- axis. On the contrary, for SML, the return of the securities is shown along the Y-axis. The standard deviation of the portfolio is shown along the X-axis for CML, whereas, the Beta of security is shown along the X-axis for SML. Where the market portfolio and risk free assets are determined by the CML, all security factors are determined by the SML. Unlike the Capital Market Line, the Security Market Line shows the expected returns of individual assets. The CML determines the risk or return for efficient portfolios, and the SML demonstrates the risk or return for individual stocks. Well, the Capital Market Line is considered to be superior when measuring the risk factors. Summary: 1. The CML is a line that is used to show the rates of return, which depends on risk-free rates of return and levels of risk for a specific portfolio. SML, which is also called a Characteristic Line, is a graphical representation of the market’s risk and return at a given time. 2. While standard deviation is the measure of risk in CML, Beta coefficient determines the risk factors of the SML. 3. While the Capital Market Line graphs define efficient portfolios, the Security Market Line graphs define both efficient and non-efficient portfolios. 4. The Capital Market Line is considered to be superior when measuring the risk factors. 5. Where the  market portfolio and risk free assets are determined by the CML, all security factors are determined by the SML.

Protect the Rights of Children

Protect the Rights of Children A large majority of the Indian children continue to remain in distress and turmoil. The problem of emotional, physical and sexual abuse of children in India is increasing; child abuse is usually classified into three major types: physical, sexual, emotional. The public and the government also are yet to recognize it as a serious problem. Public indignation and professional concern is yet to be translated into positive and realistic action. CHILD ABUSE The major cause of child abuse is adaption or environmental maladjustment mostly on the part of adult perpetrators but some extent on the of adult responsible for family socialization as well. Most child abuse occurs in a childs home which a smaller amount occurring in the organization, schools or communities the child interacts with. There are four major categories of child abuse: Neglect, physical abuse, psychological/emotional abuse, sexual abuse NEGLECT Child neglect is where the responsible adult fails to provide adequately for various needs, including physical: failure to provide adequate food, clothing, emotional: failure provide nurturing or affection, educational: failure to enroll a child in school, or medical: failure to medicate the child or take him or her to the doctor. PHYSICAL ABUSE Physical abuse is physically aggression directed at child by an adult. It can involve punching, striking, kicking, showing, slapping, burning, pulling ears or hair, stabbing, choking or shaking a child. Shaking child can cause shaken baby syndrome. Boys are more battered than girls, the transmission of toxins to child through its mother (such as with fetal alcohol syndrome) can also be considered physical abuse in some jurisdictions. SEXUAL ABUSE Child sexual abuse is a form of child abuse in which an adult or older adolescent abuses a child for sexual stimulation. Girls are victims of sexual abuse than boys a high proportion of children become victims of sexual abuse when they are fourteen or above 14 years of age. Form of child sexual abuse include asking or pressuring a child to engage in sexual activities, indecent exposure of the genitals to a child, actual sexual contact against a child, physical contact with the childs genitals, viewing of the childs genitalia without physical contact, or using a child to produce child pornography. Effect of child sexual abuse include guilt and self-blame, flash back, nightmares, fear of things associated with the abuse , self- esteem issues, sexual dysfunction, chronic pain , addiction, self-injury, depression, anxiety EMOTIONAL ABUSE Emotional abuse is the hardest to define. It could include name-calling, ridicule, degradation, destruction of personal belongings, torture or destruction of a pet, excessive criticism, inappropriate or excessive demands, withholding communication, and routine labeling or humiliation. A large number of parents who ill-treat their children are those who are aggressive, irritable and domineering in their behavioral characteristics: fickle-minded, inflexible and less tolerant in their emotional characteristics: and have low-esteem, feeling of alienation, and lack of ability empathize in social characteristics. CHILD LABOUR Child labour refers to the employment of children at regular and sustained labour. This practice is considered exploitative by many international organizations and is illegal in many countries Child labourers are exploited, exposed to hazardous work conditions and paid a pittance for their long hours of work. Forced to forego education, shouldering responsibilities far beyond their years, becoming worldly wise when their peers have yet to leave the cocoons of parental protection, these children never know what child hood is. CHILD WELFARE Childrens Development is as important as the development of material resources and the best way to develop national human resources is to take care of children.   India has the largest child population in the world.   All out efforts are being made by India for the development and welfare of children specific concentration is being given to the efforts to improve the life and opportunities of the Girl Child. Significant progress has been made in many fields in assuring children their basic rights.   However, much remains to be done.   The country renews its commitment and determination to give the highest priority to the basic needs and rights of all children.   Children are most vulnerable to exploitation and abuse.   A lot more has to be done for the health, nutrition and education of children.   It is unfortunate that girls in particular face debilitating discrimination at all stages.   JUVENILE JUSTICE (Care and Protection of Children) Act Juvenile Justice (Care and Protection of Children) Act, 2000 was enacted in discharge of the Constitutional mandate that it is the primary responsibility of the state to ensure that all the needs of children are met and that their basic human rights are fully protected The Act further provides for the establishment of Juvenile Justice Board to deal with the Juvenile in conflict with law. The Act further provides for punishment of person who commits an offence against the juvenile. In case a juvenile is assaulted, abandoned, exposed or neglected in any manner so as to cause unnecessary mental or physical suffering, by any person in custody of the juvenile, he shall be punished with imprisonment for a term up to six months with or without fine Child in need of care and protection Child in need of care and protection means a child who:- Is found without any home or settled places or abode and without any ostensible means of subsistence, Is mentally or physically challenged or ill, suffering from primary diseases or incurable diseases having no one to support or look after, Is a victim of any armed conflict, civil or natural calamity or is being or likely to be abused for unconscionable gains. The Act further provides for the constitution of the Child Welfare Committees for every district or group of districts for exercising the power and discharging the duties in relation to child in need of care and protection. The committee shall consist of a chairman and four other members, of which one shall be woman and another, an expert on matters concerning children. The committee shall function as a Bench of Magistrates and shall have powers conferred on a judicial Magistrate of the 1st class under the code of Criminal Procedure. The committee is the final authority to deal with matters of care, protection, treatment, development and rehabilitation of the children so produced. Legal Right and Provisions to Protect the Rights of Children CONSTITUTIONAL RIGHTS Article 14: Right to equality-equality before law and equal protection of law Article 15: No discrimination on the basis of religion, caste, sex or place of birth. Gender discrimination still exists. Article 21: right to life. Exploitation of children in any form is curbing their right to life. Right to education is also considered as a right to life after the 86th amendment in 2002 Article 23: Right against exploitation-prohibition of traffic in human beings and forced labour. Article 24: prohibition of employment of children in children in factories, etc-no child below the age of 14 shall be employed to work in any factory or mine or any hazardous employment. Article 45: Provision for child hood care and education: establishment of anganwadis, adolescent clubs are established on this basis. INTERNATIONAL CONVENANTS ON CHILD RIGHTS United Nations Convention On rights, 1989(ratified by India in 1992) Article relevant for protecting children:- Article 19 makes provision for state parties take protective measures for protecting children from all forms of mental, sexual and physical abuse. Article 20 21 provides for alternative care (adoption, foster care) etc for children. Article 32 recognizes the need for protection of children from economic exploitation and from performing hazardous work. Article 33 provides for appropriate measures including legislative administrative social and educational measures to protect children from illicit use of narcotic drugs. Article 34 urges the state to protect the child from all forms of sexual exploitation and abuse. TWO OPTIONAL PROTOCOLS TO THE CONVENTION ON THE RIGHTS OF THE CHILD:- Optional protocol on the involvement of children in armed conflict. Optional protocol on the sale of children, prostitution and pornography. SAARC Convention on Preventing and combating Trafficking in women and children. Penal provisions to protect children. 366a IPC Buying minor children, non bail able offence- 10 years imprisonment. 366B IPC- Importing minors for the purpose of the prostitution. 372- Buying or selling any girl below 18 for the purpose of prostitution. 376- Rape of minor girl below 15 377- Unnatural sexual offence. 354- Outraging the modesty of women. We dont have special provisions to protect children from child sexual abuse; we usually make use of these provisions to charge the case against the culprit. SPECIAL ENACTMENTS TO PROTECT CHILD RIGHT 1. Child labour(prevention and regulation) act 1986. 2. Child Marriage Restraint Act 1978. 3. Immoral traffic prevention act 1956. 4. Pre-natal diagnostic techniques regulation act 1994. 5. Juvenile Justice Act 2000. CONCLUSION The political and social problems of Indian children become increased phenomena. The Child problems or child right violations increasing day by day. There are several written laws to protect their rights, but unfortunately most of them are violated. The state itself is a child right violator. The labour ministry of India has analyzed that it is not easy to prohibit child labour, in such a situation of child right crisis, the government, social agencies, social workers has to go miles through the path of elimination process of social problems of children

Listening Report Essay -- essays research papers fc

Concert Analysis: Songs Around the Word I Offer Thee by Allen Ridout 1.  Ã‚  Ã‚  Ã‚  Ã‚  Gregorian chant consists of a single-lined melody and is monophonic in texture. This piece also consists of these basic structures as well as not having any harmory or counterpoint. This piece performed by U of I faculty member Steven Rickards, is sung a cappella. 2.  Ã‚  Ã‚  Ã‚  Ã‚  This piece differs from the traditional Gregorian chant of the Middle ages because of the jumps and leaps presented in the piece, which show that the piece was written after the period. Another reason it differs from chant is because this is plainchant rather than Gregorian. It is also sung in English, rather than the traditional Latin text. Ahavant Olam by Ben Steinburg 3.  Ã‚  Ã‚  Ã‚  Ã‚  Cantillation, according to the Harvard Music Dictionary, is to chant or recite (a liturgical text) in a musical monotone; recitation or reading with musical modulations. One of its features is that the piece is straight out of the torah 4.  Ã‚  Ã‚  Ã‚  Ã‚  One of the main reasons why this piece has a Jewish sound is it is in minor key, giving it the drama of a jewish piece. It also has a monotonic sound present. In some parts of the piece, the vocalist embellishes some of the long syllables, making it melismatic. Mizi Westra did a great job of bringing out the main idea of the text which is peace and love. 5.  Ã‚  Ã‚  Ã‚  Ã‚  The main role of the piano on this piece is to establish the melodic idea. The pianist, Amy Eggelston, lets the vocalist take over but makes it like they are singing together. The pianist plays just as an important role as the vocalist, making her not an accompanist. Leit etter livet by Christian Sinding 6.  Ã‚  Ã‚  Ã‚  Ã‚  I believe that the piece is talking about happiness and fulfillment. The piece is entitled Leit etter livet which translated means â€Å"Seek after Life and Live it.† The performer exemplifies this with his happy singing and the piano has an ascending line that also portrays happiness. Det forste by Edvard Grieg 7.  Ã‚  Ã‚  Ã‚  Ã‚  Mr. Samuelson interprets the piece in a few ways. First, with his urgency. He displays his passion and oneness of the music. He uses lots of dynamics and also in some cases bends the pitch, which makes the piece more interesting. He also displays a gre... ...he violin. It was raspy in nature and did not flow with the violin. What really impressed me about the duo of Hunt and Enzinger was their patience. They never rushed tempos and took their time with melodies, making the outcome a beautiful performance. The music was simple and could have been rushed but never did. Overall, this concert was very well put together and the musicians were very classy and talented. I wish we had that many talented musicians here at this university. I would recommend this concert to anyone who has an interest in vocal music. Bibliography Sacred sound and social change : liturgical music in Jewish and Christian experience By:  Ã‚  Ã‚  Ã‚  Ã‚  Lawrence A Hoffman; Janet Roland Walton Notre Dame : University of Notre Dame Press, 1992. The Triumph of Pierrot, The Commedia dell'Arte and the Modern Imagination, Martin Green and John Swan, rev.ed. 1993, Penn State Press. The Life of Debussy   Ã‚  Ã‚  Ã‚  Ã‚  Author: Nichols, Roger 184 pages Pub. Date: Jun 1998, Publisher: Cambridge Univ Press Joseph machlis,Kristine Forney. The enjoyment of music. 9th edition. Ww Norton and company, 2003. new york Websters Music dictionary of music,

Dominique LaPierres The City of Joy Essay -- Dominique LaPierre City

Dominique LaPierre's The City of Joy â€Å"His suffering was transformed into surprise then peace, the peace that comes from being loved† (C.O.J. p. 254). In the book the City of Joy, Hasari, Mother Theresa, Stephan Kolvaski and Max Loeb all experienced the joy and helpfulness that comes from being loved. Their problems and troubles through out the book help them to understand how to make it through tough times. Examples from this book and life show that modern medicine is not always the best way to help the sick or injured. Peoples love and kindness for each other is the most valuable gift you can give someone. â€Å"This city isn’t all that inhuman† (C.O.J. p. 82). Hasari said this when he was able to become a rickshawpuller. When Pam Chander befriended Hasari he saved him and his family from starvation. Ram showed Hasari that there was a still king person in a city, that was thought of as cruel. After Hasari started his job he was able to feed and buy treats for his family. Ram and Hasari’s friendship continued to grow while working together. They also continued to help each other out in times of need. Ram Chandler not only got Hasari a job, he helped teach him about the rickshaw business and life in Calcutta. Ram showed Hasari where to get business and how to help the soreness from pulling. Another thing he taught Hasari was how to hide any illness he got. Ram also reminded Hasari how lucky he was to have what he did have. â€Å"Good old Ram, there wa...

Corporate Governance Exam Paper

Games Directors play While analysing the Reality of Boardroom we say many games and tactics often employed by directors so that they don’t lose power. Some such games were alliance, coalition, lobbying, scaremongering, log rolling etc. Here also majority of BOD were near and dear ones of Bright so everybody chose to stay quiet about what is going on. Under-reserving Like we say in the HLL case under-reserving is a tactic used by firms but in the long run it cant stop companies from collapsing. Role of independent directors The question Are independent directors really independent has been topic of debate for ages.In the case the role played by independent directors is insignificant. Also it is questionable whether independent directors were present and in the number advised by law or not. Audit Committee The case talks about KPMG and the arguable role it played but what about the audit committee, was it existent, if so how was it functioning. Its composition and leadership nee ds attention. Manipulation Most of the cases of accounting frauds, falsifying records, deceiving shareholders and bankruptcy rest upon the manipulation of the balance sheet and the tactics used to fudge the data.Ex: Enron The company needs to take inspiration from firms like GSK, Infy, and tata which serve as examples of good CG. GSK * Chairman of board is independent director along with 5 others in in board. Transparency is valued Infosys * Creating wealth legally and ethically Tata * One of the giants and still fascinating governance * In sync with the values * Very elaborate code of conduct Board composition and structure One of the major flaw ways in the board structure is everyone was quiet about the rising storm dominated by power and status of Bright.There should be some independent directors with ability to question the acts and deeds and the following structures are recommended. European Two Tier model Shareholders Supervisory board Executive board Management Employees and staff The supervisory board overlooks functions of executive board and can question and alter the function This model is preferred over unitary board. Chinese model Here we see the presence of the state as a whole also takes society into account along with shareholders Board Leadership One of the major causes of the downfall was the role played by Bright.He was forceful and rigid and thus not a true leader. The features desired for a leader are: Integrity The ability to differentiate between right and wrong and govern in a manner that it is morally correct and sustainable Independence The board was like a dummy/puppet with no or very less degree of independence Intellect The creativity must not come out in form of manipulation and fraud but the betterment of the firm Character He must be ethical and strong character Personality A leader must be flexible and open to new ideas and suggestions. The personality is the holistic perspective.Communication skills, good listener, motivator e tc. Board level information Desired CG was not in place and there was no clear information pathway. The board did not check or authenticate the actions. Control systems The case clearly shows violation of many acts and laws. The board was not conforming to the supervisory work. The control system was not in place. Auditors at fault: In cases like Enron and worldcom it has been seen that the external auditors are able to flee away leaving the company in distress. Usually there are tie ups between management and auditors, some internal settlement that leads to uch actions. Role of internal audit committee is arguable. The company should have gone to auditors like Delloitte who are reliable and tested. Risks that should be considered – Financial risk. Operational, compliance, Business Four aspects of CG Internal control, risk management, behavioural governance, independence Sarbax – oxley act This is one of the landmark acts that came in 2002 after Enron and Worldcomm It says criminal and civil penalties for compliances and accounting frauds, certificate for internal audits and annual report is to submitted by all public and private listed companies.Also introduce PCAOBA (Public company accounting oversight board of America) Was criticized for high cost of compliance CG is a process by which companies are directed and controlled Many attempts have been made to define CG and this one by Cadbury is one of the most comprehensive . Cadbury’s definition – â€Å"Corporate governance is the system by which companies are directed and controlled. The boards of directors are responsible for the governance of their companies. The shareholder’s role in governance is to appoint the directors and the auditors to satisfy themselves that an appropriate governance structure is in place.The responsibilities of the board include setting the company’s strategic aims, providing the leadership to put them into effect, supervising the manageme nt of the business and reporting to shareholders on their stewardship. The board’s actions are subject to laws, regulations and the shareholders in general meeting. † Mike and Minnow: Corporate Governance is a process of governing and directing the performance of any company and the major actors involved are directors, management, society and shareholders CG is basically to overlook, monitor, control and direct the functioning of the management.For this we have BOD and the code of conduct. Some acts, laws and norms facilitate this process of governance. Scope from least to highest Society Media and Press Shareholders Regulatory bodies Contractual Stakeholders Auditors Governance and Management (Diagram) As it is clear that the scope of CG is very wide. It is crucial that CG is acceptable and answerable to many. Functions of the board Majorly there are four functions of the board depending upon the conformity to past or existing and the performance expected for future.Th e four functions are accountability, strategy formulation, supervising and monitoring and policy making Matrix The accountability along with monitoring and supervising is the conformance part i. e. to past or existing situation. The policy making and strategy formulation comes under the performance part with focus on future value. Usually it is seen that independent directors are forced to conformance because they only understand what is going on. Strategic Formulation * This is the most crucial step of governance There must be shared view according to which governance and management abide * It involves SWOT, PEST, Porter analysis and asking of crucial questions of long term strategic importance * It is important to have helicopter vision balanced of long and short term * San Tzu â€Å"Think the mind alike of your enemy† Policy making * This comes from the strategic formulation * Policies are rules, regulation and procedures that must be followed and abided Supervision & moni toring This is the conformance part to check that everything is happening as per the policies and rules or not Accountability * Accountability is to have proper system wherein respective people are accountable for any error or aberration * Only the top management is not accountable but usually is held responsible. Normative: How board thinks directors should spend their time How directors actually do spend their time Relation between functions Strategy formulation Policy making supervision and monitoring Accountability Roles: Agents and Stewards Agency theoryPrincipal shareholders contract with agents seek self interest It says that it is not possible that agents take care of other money with as much vigilance of vow. They seek personal interest and detrimental effect on shareholders Stewardship theory Owners chose and elect stewards(directors) who play the role of stewards Contrary to agency theory it says owners vest their trust in directors who act as stewards of shareholders mon ey. Along with the board the following roles are performed by the director Managing the board Managing the meeting Strategic leadership Cooperation between board and management Company’s face to publicBy means of all these functions and roles the board makes an effort towards fair and equitable distribution of profit, ethical governance of firm and deters any unethical behaviour It lays clear rules, norms, laws and code of conduct to facilitate governance Maxwell communication 1991 – Risky acquisition using pension funds leading to bankruptcy Bank of credit and commerce international Cadbury report 1992 – best practices suggested How to implement it? For a company to enter in stockmarket it has to that it follows Cadbury suggestions Corporate governance is directly related to market valuation of a company.Better managed companies are valued more. Enron failure 2001 – faulty accounting policies; creation of special purpose entities to conceal losses; exces sive executive compensation Worldcom 2002 – The BOD did not oppose the ambitious investment of Worldcom in fiber optic cables and infrastructure to become a market leader (a short term goal). This led to huge losses when the boom for dot com ended. Measures to check such scenarios * Make BOD accountable to stakeholders * Make changes in structure * Clearly explain the responsibilities of Board Make them active board – in giving a leadership to the company * Make the BOD to meet more frequently – listed company at least 4 times a year * Lay down an agenda about what must be discussed Placing constraints, checks on management power including the CEO Eg: SKF micro finance – CEO was sacked as he is no good There should be separation of position of chairman and CEO Ensuring a sound system of internal control and proper disclosure of financial information and executive compensation Auditors are continuing from 20 years Approaches to strengthen the CG 002 â€⠀œ there was a proposal to change companies act 1956 2012 – the bill was proposed in loksabha Very lengthy process to make a law But then one law for all companies reduces flexibility In 1998 CII appointed a committee under Rahul bajaj to create guidelines for cg which is only voluntary. Only 0. 1% adopted them. Voluntary Purely legal approach Cg code Code – a set of practices, guidelines which are expected to be followed by the companies 2 approaches for cg code 1) Principle based – lay down broad principles; comply or explain principles link it with listing.Make the companies which are not adopting explain why they are not adopting 2) Rule based approach – comply or get prosecuted; in extreme cases companies are delisted. But then the shareholders are effected. Rule based approach is rigidity. The companies will try to outsmart the rules if they are rigid. Eg: BJP chief Nitin Gadkari driver was shown as a director in a company. The directors get huge mo ney for just attending 4 meetings, so they agree with whatever the companies say to earn easy money or else they would be removed from the board.CG in India * The issue of CG has come up mainly in the wake up economic reforms characterized by liberalization, privitization and globalization. * The way foreign investments is CG * The last point in previous year * SEBI committee on CG headed by SHri Kumara Mangalam Birla submitted its report in Feb 2000 * Clause 49 in listing agreement with stock exchanges made it mandatory for companies to follow recommendations by Kumara M B committee * Then Naresh Chandra committee is appointed by the †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. Indian Code Inspired by Cadbury code, 1992 * CII code – 1998 (voluntary compliance could not make much difference) Implementation 2005 – all the companies above 3 crore revenues Audit committee * As an interface between the board and auditors atleast 3 members (NED) majority of independent dire ctors * Looks after all the activities related to auditors i. e. appointment of reappointement of auditors * Reviewing of internal reports * Audit committee must meet 4 times a year * Gap should not be more than 4 months Disclosures Management discussions and analysis report * Related party transactions * Remuneration to NEDs Clause 49 Case of satyam First biggest and most shocking scam involving †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. Modus operandi of the scam * Super user login to some employees * Entering fake invoices * Boost revenues and profits * Falsified bank statements * Falsified interest income Role of board in satyam’s case Overlooking the reports The board said ok to all proposals by raju to direct funds to acquire lands in hyd Directors had a salary of rs 12 lakh annually

Performance Appraisal System

â€Å"A STUDY ON PERFORMANCE APPRAISAL SYSTEM† DONE FOR â€Å"BAJAJ FINSERV LIMITED† PROJECT REPORT Submitted in the partial fulfillment for the award of MASTER OF BUSINESS ADMINISTRATION Submitted By SOFIYA TARRANNUM (Roll No- 2128-11-672-018) Under the guidance of ASHARA ANJUM HYDERABAD PRESIDENCY P. G. COLLEGE (Affiliated to Osmania University Hyderabad, and approved by AICTE. DECLARATION I here by declare that the project work entitled â€Å"A STUDY ON PERFORMANCE APPRAISAL SYSTEM†, submitted by me under the supervision of, ASHARA ANJUM, Department of MBA, HYDERABAD PRESIDENCY P.G COLLEGE. HYDERABAD submitted for the requirement for the award of the Master of Business Administration of OSMANIA UNIVERSITY and it is entirely original and has not been submitted earlier by any one for any Degree or Diploma. PLACE: HYDERABAD DATE: (SOFIYA TARRANNUM) ROLL NO : 2128-11-672-018 CERTIFICATE This is certify that the project work entitled â€Å"A STUDY ON PERFORMANCE A PPRAISAL SYSTEM† is bonafide work done and submitted by SOFIYA TARRANNUM, in partial fulfillment of the requirements for the award of the degree of â€Å"MASTER OF BUSINESS ADMINISTRATION† in â€Å"HYDERABAD PRESIDENCY P.G COLLEGE† (Affiliated to Osmania University, Hyderabad and approved by AICTE, during the year 2012-2013. ASHARA ANJUM ARSHAD UR REHMAN Project Guid Head of Department Hyderabad Presidency P. G College Hyderabad Presidency P. G College Hyderabad-500089. Hyderabad -500089. ACKNOWLEDGEMENT First of all, I think almighty god who has blessed me all through my life. I wish to express my sincere indebtedness to our principal, prof.ARSHAD UR RAHMAN. HYDERABAD PRESIDENCY COLLEGE. My profound thanks and deep sense of gratitude of , Head of the Department, HPC for his valuable support and encouragement . I express my sincere thanks to my guide, ASHARA ANJUM, associate professor for their valuable guidance and suggestions and being instrumental in having sh ape to my project work. I would like to thank entire faculty members in Hyderabad Presidency p. g college. for their support and inspiration for successful completion of the project they were the most caring and the best critics during the course of y project and enabled me to be creative and multi-dimensional in my approach. I will remain always debited to them. Last but not the least, I wish to acknowledge with gratitude for the support and encouragement extended by my family members for the successful completion of the project. (SOFIYA TARRANNUM) EXECUTIVE SYNOPSIS HYDERABAD PRESIDENCY P. G COLLEGE A STUDY ON PERFORMANCE APPRAISAL DONE FOR BAJAJ FINSERV LIMITED. NAME: SOFIYA TARRANNUM UNDER THE GUIDENCE OF ROLL NO -2128-11-672-018 ASHARA ANJUM TABLE OF CONTENTTOPICSPAGE NO. CHAPTER-1 †¢INTRODUCTION 9-16 RESEARCH METHODOLOGY17-19 CHAPTER-2 †¢LITERATURE REVIEW14-25 CHAPTER-3 †¢THE COMPANY/ ORGANIZATION/ SYSTEM26-43 CHAPTER-4 DATA ANALYSIS44-68 CHAPTER-5 FINDINGS,SUGG ESTION & CONCLUSION 69-74 BIBLIOGRAPHY76 QUESTIONARE 77 LIST OF TABLES AND GRAPH Sl No. FiguresPage No 1. Project Goals are different from functional Goal45 2. Position on the basis of performance46 3. Scope of using the innovating skills in making Decesion47 4. Percentage of Target matching with Goal48 5. Discuss personal problem with superior49 6.Superior contribute to see their goal50 7. Methods of appraisal51 8. Interpersonal team Relationship 52 9. Employee appreciation53 10. Feedback given by appraiser54 11. Employee opinion about frequency of appraisal system55 12. Opinion on performance linked performance policy56 13. Training needs57 14. Employee opinion on appraisal system58 15. Appraisal System59 16. Rating system60 17. Planning61 18. Value of employee in the organization62 19. Improvement in Job performance63 20. Self appraisal64 21. Effectiveness of Appraisal65 22. Employee Satisfiction66LIST OF CHARTS Sl No. FiguresPage No 1. Process Flow Chart of Appraisal24 2. Servic e at Bajaj Finserv Limited25 3. Performance Rating against individual item 27 4. Summary detail of portfolio32 5. Organization Structure of Bajaj Finserv35 6. Appraisal by first Assessor37 7. Appraisal by second Assessor38 CHAPTER-1 INTRODUCTION RESEARCH METODOLOGY RESEARCH METHODOLOGY: Research design : Descriptive in nature Research instrument : A well structured questionnaire Population size : 275 Sample size : 100Sampling unit : Technical Sample procedure : convenience sampling Sources of data : Primary & Secondary data Primary data : Primary data is collected from the respondents through Questionnaire & interacting with the associates. Secondary data : Secondary data is collected from the various text books On performance appraisal, Company reports, company Broachers and company websites. ww. bajajfinserv. com Statistical tool : weighted average method and simple percentage method. This chapter deals with the Title of the study, the Need of the study i. e. for what purpose the study is actually carried out, the Scope of the study, the Objectives of the study, the Various sources of data collection, the Study instruments used for conducting survey like Questionnaire, Interview etc, the way the data is analyzed, the Presentation of the study and finally the limitation involved in the study.TITLE OF THE STUDY: The Title of the study is â€Å"STUDY ON PERFORMANCE APPRAISAL SYSTEM† At â€Å"BAJAJ FINSERV LIMITED †, Hyderabad, and Andhra Pradesh. NEED FOR THE STUDY: ?Performance appraisal has been considered as a most significant and dispensable tool for an organization. It is highly useful in making decisions regarding various personal aspects. Performance appraisal developing criteria for promotion and career development. ?It provide a synthetic feed back to the employees regarding there performance with in a limited period of time.It prevent grievances and increases the analytical abilities of the supervisors The overall objectives of performan ce appraisal is to improve the efficiency of an enterprise by attempting to mobilize the best possible effort from individuals employed SCOPE OF THE STUDY: The scope of the study has been confined to the associates of Bajaj Finserv limited. It includes associates of various departments with different cadres only top-level executives are excluded from the study. OBJECTIVES OF THE STUDY: ?To study the existing performance appraisal system at B F L. ?To evaluate the effectiveness of appraisal system. To offer suggestion for improvement in performance appraisal system. RESEARCH DESIGN: Descriptive study â€Å"A research design is the arrangement of conditions for collection and analysis of data in manner that aims to combine relevance to the research purpose with economy in procedure†. RESEARCH INSTRUMENT: Making researches have a choice of two main research instruments in collecting primary data. They are questionnaire and mechanical devices. Hear the research instrument used in a structure questionnaire, which is carefully and well designed. It includes both open and close ended questions.The questionnaire is personally administered to the respondents and clarify the doubts if any , and the responses were solicited. SAMPLING DESIGN: POPULATION: In statistical uses the term population is any finite or infinite collection of individuals. The populations of this study are associates of the technical department of the company. Population size: Population size constitutes 275 associates Sample size: A sample size is 100 Sample unit: A sample unit is service department. SOURCES OF DATA COLLECTION Data for the present study is collected through two sources i. e. through primary data and secondary data.Primary Data: The primary data is collected through Questionnaires and interacting with the associates. Secondary Data: For the study on performance Appraisal System the secondary Sources used are various Textbooks on Performance Appraisal, company reports, company policies, brochures and various websites. STUDY INSTRUMENTS: The questionnaire is framed to find out the effectiveness of Performance Appraisal of Bajaj Finserv Limited. It contains 24 questions. It is distributed into four sections. †¢Setting Of Goals †¢Role Of Superior †¢Feedback and Evaluation †¢Organizational EffectivenessANALYSIS OF DATA: The collected data is tabulated and then analyzed by simple percentage, weighted average and represented by different types of graphs and charts. The analysis of data is on the basis of the questionnaire collected from the associates. CHAPTER-2 LITERATURE REVIEW CONCEPTUAL FRAMEWORK DEFINITION OF PERFORMANCE APPRAISAL To define the concept of performance appraisal the management gurus have taken certain common parameters and on the basis of that they have defined the term. The terminology of the definitions may differ but the overall meaning of the definition remains same.Some of the leading definitions are given below ?Pe rformance appraisal is a systematic review of a person’s work and achievements over a recent period, usually leading to plans for the future. ?In, its most basic form, performance appraisal includes documenting achieve results (Hopefully, by also including use of examples to clarify documentation) and indicating if standards were met or not. ?The appraisal usually includes some form of development plan to address insufficient performance. ?The evaluation of an individual’s work performance in order to arrive at objective personnel decisions.PURPOSE OF TRADITIONAL PERFORMANCE APPRAISALS Performance appraisal for evaluation using a traditional approach has served the following purposes: ?Promotion, separation, and transfer decisions. ?Feedback to the employee regarding how to organization viewed the employee’s performance. ?Evaluation of relative contributions made by individuals and departments in achieving higher organization goals. ?Criteria for evaluating the effectiveness of selection and placement decisions, including the relevance of the information used in the decisions within the organization. Reward decisions, including merit increases promotions and other rewards. ?Ascertaining and diagnosing, training and development decisions. ?Criteria for evaluating the success of training and development decisions. INSIGHT INTO APPRAISAL THEORY Organizations in their day-to-day activities working handle loads of activities. The employees working in the organizations carry on these activities. Organization activities done by the employees are termed as â€Å"performance† the buzzword that is all time in the heads of the management. â€Å"The success of the organization depends upon the performance of its employees†Earlier organizations did not have any kind of specific methodology to handle the issues relating to measuring of performance because they did not had an understanding that the performance of the employees plays an sign ificant role in the overall functioning and meeting goals and objectives of the organizations. Performance is measured basically on the basis of the goals by an individual, which contribute to the overall organizational goals. The main focus is on meeting the overall goals and objectives of the organization in the specific time span.In doing so the organization must also see that the individual self-development and personal goals are also fulfilled. When the individual is able to synchronize his personal goals with that of the organizational goals then the working of the system will be apt. PREFACE OF THE APPRAISAL SYSTEMS The appraisal is both inevitable and universal. In the absence of carefully structured system of appraisal, people tend to judge the work performance of others ,including subordinates, naturally, informally and arbitrarily.Without a structured appraisal system there is a little chance of ensuring that the judgments made will be lawful, fair, defensible and accurat e. The history of performance appraisal is quite brief. Its roots in the early 20th century can be traced to Taylor’s pioneering time and motion studies. But this is not very helpful, for the same may be said about almost everything in the field of modern human resource management. The practice of appraisal is an ancient art. In the scale of things historical , it might well lay claim that appraisal is the world’ second oldest profession.Performance appraisal systems began as simple methods of income justification. That is, appraisal was used to decide whether or not the salary or wage of an individual employee Was justified. Little consideration, if any, was given to the developmental possibilities of appraisal. It was felt that a cut in a pay, or a rise, should provide the only required impetus for an employee to either improve or continue to perform well. Pay rates were important, yes; but they were not only the element that had an impact on employee performance.It was found that other issues, such as morale and self-esteem, could also have a major influence. APPRAISALS IN TODAY’S CORPORATE WORLD The modern system of performance appraisal is defined as a structured formal interaction between a subordinate and supervisor, that usually takes the form of a periodic interview (annual or semi-annual), in which the work performance of the subordinate is examined and discussed, with a view to identifying weaknesses and strengths as well as opportunities for improvements and skill development.In many organizations – but not all – appraisal results are used, either directly or indirectly, to help determine reward outcomes. That is, the appraisal results are used to identify the better performing employees who should get the majority of available merit pay increases, bonuses and promotions. By the same token, appraisal results are used to identify the poorer performers who may require some form of counseling, or in some cases demoti on, dismissal or decreases in pay. (Organizations need to be aware of laws in their country that might restrict their capacity to dismiss employees or decrease pay. FLAW EXIST IN TRADITIONAL PERFORMANCE APPRAISAL SYSTEM oWork scheduling plans oBudgeting oHuman Resource planning MOSTLY USED METHODS OF PERFORMANCE APPRAISAL RATING SCALES: The rating scale method offers a high degree of structure for appraisals. Each employee trait or characteristics is rated on the bipolar scale that usually has several points ranging from â€Å"poor† to â€Å"excellent â€Å". The traits assessed on these scales include: ? Cooperation ?Communication ability ?Initiative ?Punctuality ?Technical competenceThe nature and scope of the traits selected for inclusion is limited only by the imagination of the scale’s designer or by the organization’s need. BEHAVIORAL ANCHORED RATING SCALES The term used to describe a performance rating that focused on specific behaviors or sets as indic ators of effective or ineffective performance, rather than on broadly stated adjectives such as â€Å" average, above average, or below average â€Å". GRAPHIC RATING SCALES The term used to define the oldest and the most widely used performance appraisal method.The evaluator are given a graph and asked to rate the employees on each of the characteristics. The number of characteristics varies from one to hundred. The rating can be a matrix of boxes for the evaluator to check off or a bar graph where the evaluator checked off a location relative to evaluators rating. CHECKLIST The term used to define a set of adjectives or descriptive statements. If the rater believed the employee possessed a trait listed, the rater checked the item; if not, the rater left the item blank. The rating score from the checklist equaled the number of checks.WEIGHTED CHECKLIST The term is used to describe an alternative method of performance appraisal where the supervisor or personal specialists familiar with the job being evaluated prepare a large list of descriptive statements about effective and ineffective behavior of jobs. RANKING METHOD The term ranking has been used to describe an alternative method of performance appraisal where the supervisor has been asked to order his or her employees in terms of performance from highest to lowest. CRITICAL INCIDENT METHODThe term is used to define a method of appraisal that made lists of statements very effective and very ineffective behavior for employees. The lists have been combined into categories, which vary with the job. Once these categories are developed and a statement of effective and ineffective behavior has been provided, the evaluator recorded examples of critical behaviors, and the log has been used to evaluate the employees at the end of evaluation period. NARRATIVE OR ESSAY EVALUATION This method requires the evaluator to write a short essay describing each employee’s performance during the raring period.This form at emphasizes evaluation of overall performance, based on the strengths and weaknesses of an employee performance. Some companies still use this method exclusively, whereas in others, the method has been combined with the graphic rating scale. MANAGEMENT BY OBJECTIVES The management by objectives performance appraisal method has the supervisor and the employee get together to set objectives in quantifiable terms. The appraisal method has worked to eliminate communication problems by the establishments of regular meetings, emphasizing results, and by being an ongoing process. Cascading of organizational objectives oSetting up of subordinate objectives oReviewing and evaluating the performance oFeedback and rewards oSetting up of new MBO. 360 DEGREE PERFORMANCE APPRAISAL Performance Appraisal by all the parties like supervisors, peers, subordinates, employees themselves, users of service and consultants is called 360 degree Performance Appraisal. The appraiser should be capable of det ermining what is more important and what is less important. He should prepare reports and make judgments without any bias. SELF APPRAISALIf individuals understand the objectives they are expected to achieve and the standards by which they are to be evaluated, they are to a great extent in the best position to appraise their own performance. Also, since employee development means self-development employee who appraises his or her own performance may become highly motivated. MERITS OF AN APPRAISAL SYSTEM Perhaps the most significant benefit of appraisal is that, in the rush and bustle of daily working life, it offers a rare chance for a supervisor and subordinate to have â€Å" time out â€Å" for a one-on-one discussion of important work issues that might not otherwise be addressed.Almost universally, where performance appraisal is conducted properly, both supervisors and subordinates have reported the experience as beneficial and positive. Appraisal offers a valuable opportunity t o focus on work activities and goals, to identify and correct the existing problems, and to encourage better future performance. Thus the performance of the whole organization is enhanced. The value of this intense and purposeful interaction between a supervisor and subordinate should not be underestimated. Motivation and SatisfactionPerformance appraisal can have a profound effect on levels of employee motivation and satisfaction. It provides employees with recognition as an incentive has been long noted. In fact, there is evidence that human beings will even prefer negative recognition in preference to no recognition at all. Training and Development Performance Appraisal offers an excellent opportunity – perhaps the best that will ever occur – for a supervisor and subordinate to recognize and agree upon individual training and development needs. Recruitment and inductionAppraisal data can be used to monitor the success of the organization’s recruitment and ind uction practices. For example, how well are the employees performing who were hired in the past two years? Appraisal data can also be used to monitor the effectiveness of changes in recruitment strategies. By following the yearly data related to new hires it is possible to assess whether the general quality of work force is improving, staying steady, or declining. Employee Evaluation Though often understated or even denied, evaluation is a legitimate and major objective of performance appraisal.But the need to evaluate is also an ongoing source of tension, since evaluative and developmental priorities appear to frequently clash. Yet at its most basic level, performance appraisal is the process of examining and evaluating the performance of an individual. It is been said by some that appraisal cannot serve the needs of evaluation and development at the same time; it must one or other. EXPECTATIONS FROM MANAGER IN DOING PERFORMANCE APPRAISAL †¢Translate organizational goals into individual job objectives †¢Communicate management expectations regarding employee performance. Provide feedback to the employee about the job performance in light of management’s objectives. †¢Coach the employee on how to achieve job objectives/requirements. †¢Diagnose the employee’s strengths and weaknesses. †¢Determine what kind of development activities might help the employee better utilize his or her skills to improve performance on the current job. CRITERIA OF A SUCCESSFUL PERFORMANCE OBJECTIVE Specific; What specifically is to be achieved? Not just what actions are to be performed, but what results are to be achieved through these actions? Keeping objectives simple ensures they are clear and specific.This also reduces the chance for disputes or confusion come performance appraisal time. Measurable How will you know how well an objective has been achieved? Although it may not be readily apparent, every object can be measured. Some measures ca n be measured quantitatively; others must be measured qualitatively. Accountable Accountability for performance objectives must be crystal clear and specifically state who is accountable. The more detail the better. A clear definition of what he or she is specifically accountable for will help reduce confusion cum performance appraisal time.Defining accountability will ensure a sense of urgency and purpose on the part of the employee. Realistic For an objective to be meaningful, it must be realistic and reasonable. A well-written performance objective focuses on the goals and objectives required to meet the objective. In highly efficient organizations, performance objectives ultimately link back to the company’s overall strategy and business plan. Objectives should challenge employees towards continuous improvement, but should not be unrealistic or unattainable. Time based An achievable time frame must be set for reaching the objectives.Consider assigning specific target date s not only for the performance objective itself, but also each lesser milestone linking the entire goal. Remember to be specific towards achieving results and guide action in a results oriented ways towards the objective. PROCESS FLOW CHART OF APPRAISAL GENERAL INSTRUCTIONS The performance rating against individual item in the appraisal is to be done on a 1-5 point scale as follows: RATINGEXPLANATION 5OUTSTANDING- Exceeds requirements significantly and consistently in all critical work aspects. Showed tremendous initiative and is very proactive . 5EXCELLENT- Performance at the highest standards. possesses and effectively utilized where needed, the knowledge in areas beyond those required for the discharge of critical responsibilities. Exceed requirements in most critical areas. Plans and executes well 4VERY GOOD- Demonstrates effective skills in most and essential responsibilities. Some skill areas still need improvement in order to excel at the job. 3. 5GOOD- Demonstrates skills in some essential areas. There is scope for improvement in some critical responsibility areas. Shows initiative. ABOVE AVERAGE- Demonstrates skills in some of the essential responsibilities. Performance is adequate for the current review period. Supervision is required to execute tasks in many areas. 2AVERAGE- Demonstrates average skills in most of the essential responsibilities. Meets targets with continuous supervision. Intensive training is required, 1 BELOW AVERAGE- Demonstrates Level of skills that has been unsatisfactory and inadequate for the discharge of the essential responsibilities. Consistently fall short of requirements. High level of supervision is required.Assessments duly completed in all respects, are to be forwarded to HR, in sealed envelopes. CHAPTER-3 The Company/ Organization/ System COMPANY PROFILE AN INTRODUCTION TO BAJAJ FINSERV LIMITED INTRODUCTION  ¬Ã‚ ¬Ã‚ ¬Ã‚ ¬INTRODUCTION: Bajaj FinServ will strive to be one of the top financial services businesses in Ind ia focused on delivering superior customer experience through competitive products and class leading services while providing consistent and superior returns to our shareholders and maintaining the high levels of integrity of Bajaj. Company profile:Bajaj Finserv Limited (Bajaj Finserv) is a holding company. Bajaj Finserv is the financial services arm of the Bajaj group. Its financial services businesses include lending, protection, and financial advisory and wealth management. The Company operates in four segments: Insurance, Windmill, Retail Financing and Investments & others. It does lending business Under Bajaj Finance Limited (BFL). Its protection business consists of life insurance, under the Bajaj Allianz Life Insurance Company (BALIC), and general insurance, under the Bajaj Allianz General Insurance Company (BAGIC).The Company’s Financial Advisory and Wealth Management business consists of Bajaj Financial Solutions Limited (Bajaj Finsol), which offers financial product s and advises clients on financial and wealth management. In addition, as of March 31, 2012, Bajaj Finserv had wind-farm assets, incorporating 138 windmills in Maharashtra with an installed capacity of 65. 2 megawatt. Bajaj Finserv endeavors to become a full fledged financial services company and be the financial partner to the Indian consumer and help him across his financial needs throughout his lifecycle.Bajaj Finserv is a consumer focused company with emphasis on profitable growth and operational efficiency to deliver best results to all its stakeholders. Bajaj Finserv Group companies share common values of Reliability, Innovation and Efficiency and provide customers with high quality products and services. Key focus areas for Bajaj Finserv are Lending, Investment, Protection and Advisory. Bajaj Finserv also has interests in Wind farms with 138 windmills and a total installed capacity of 65. 2 MW BAJAJ FINSERV LIMITED VISION:Bajaj Finserv has a vision to become a full fledged fi nancial services company and be the financial partner to the Indian consumer and help him across his financial needs, whether for finance, for investment management, for protection or for post retirement support, throughout his lifecycle. Bajaj Finserv is a consumer focused company with emphasis on profitable growth and operational efficiency to deliver best results to all its stakeholders. MISSION: â€Å"Bajaj Finserv is a consumer focused company with emphasis on profitable growth and operational efficiency to deliver best results to all its stakeholders. COREVALUES: ?Trust ?Integrity ?Commitment ?Respect for people ?Innovation OBJECTIVE: â€Å"To create value and delight for our stake holders† QUALITY POLICY: â€Å"To excel in providing Financial services that meets or Exceeds customer requirements through continual improvements† NATURE OF ACTIVITY ?Our Products & Services: ?Loans Against Property ? Personal Loans ? Business Loans ? Home Loans ? Infrastructure Equi pment Finance ? Loans Against Securities ? Consumer Durable Loans As a value-added service we also provide insurance services like ‘Group Term Policy’ and ‘Group Term Suraksha’ bundled with our products.VARIOUS DEPARTMENTS ?Operations ?Human resources ?Finance ?Networking and systems ?Quality ?Corporate services ?Collection ?Sales ?Product ?Marketing PEOPLE: considered as â€Å"Associates† BAJAJ FINSERV believes â€Å"our people are our strength,† & this is the very reason why Bajaj term them as â€Å"Associates† rather than employees. The work culture is people oriented, where individual aspirations are matched with organizational Objectives. Our associates exemplify our customer-oriented work style.The employees at BFL are comfortable working across cultures and across contexts; their consistency and dependability lies in their emphasis on creating solutions that are problem-focused, high on quality and quick in terms of time-to-marke t. Bajaj Group. Its insurance joint ventures with Allianz SE, Germany namely Bajaj Allianz Life Insurance Company Limited and Bajaj Allianz General Insurance Company Limited are engaged in life and general insurance business respectively. Its subsidiary Bajaj Finance Limited is a Non Banking Finance Company engaged in consumer finance, SME finance and commercial lending.Bajaj Financial Solutions Limited, a wholly owned subsidiary of Bajaj Finserv Limited is engaged in wealth advisory business. SERVICES AT BAJAJ FINSERV LIMITED Bajaj Finance Limited We are the most diversifed non-bank in the country, the largest financier of consumer durables in India and one of the most profitable firms in the category. Hereunder are summary details of our portfolio of businesses, with a brief description on each. Consumer FinanceConsumer Durables Finance Lifestyle Finance EMI Card Personal Loans Cross Sell Co-branded Credit Cards Two and three wheeler FinanceSalaried Personal Loans SME FinanceMortg age Business Loans Commercial LendingConstruction Equipment Finance Infrastructure Finance Vendor Financing Awards and Accomplishments The recognition that matters the most to us is the one we receive from our customers. That was how it was when we started. That will be even when we have a treasure trove of Industry Recognition and awards Awards: Recently, we won the CIO 100 Innovation award for two of our innovations – countries such as Canada, Sweden, Australia, Singapore, Vietnam, Hungary and India, the CIO 100 Awards is a truly global recognition.It is an acknowledged mark of excellence in enterprise IT. Management Profile Sanjiv Bajaj: Managing Director Kevin D’Sa: CFO and President – Business development Ranjit Gupta: President (Insurance) S. Sreenivasan: President (Finance) V. Rajagopalan: President (Legal) Sonal R Tiwari: Company Secretary OFF SHORE POLICIES PERSONAL BENEFITS ?Leave ?Onsite return leave policy ?Personal leave policy ?Loans for house rent al deposit ?Home pc ?Telephone at residence ?Facilities to the associates TRAVEL RELATED ?International travel ?Domestic travel ?Conveyance reimbursement ?Car hire Relocation policy ?Relocation allowance WORK PLACE BASIS ?Working hour ?Dress code ?Identity card ?Business card ?Late/holiday working ?Work ethics ?Shift allowance OTHER POLICIES ?Reward and recognition ?Staff welfare allowance ?Associate referral ?Work ethics ?Higher education BAJAJ FINSERV LIMITED OFFERINGS Organisation Structure Performance Appraisal System at Bajaj Finserv Ltd: PERFORMANCE MANAGEMENT: APPRAISAL PROCEDURE: PERFORMANCE APPRAISAL FOR ASSOCIATES OF HOD LEVEL: PURPOSE: To appraise the performance of all the associates at HOD level in BAJAJ FINSERV LIMITED PROCEDURE: General: Annual appraisal is done during the month of April, every year for all the confirmed associates who are on the rolls as on 31st December of the previous year. †¢Distribution of Appraisal Forms: for annual appraisal, the HR will d istribute the appraisal forms to the CEO for further distribution to the concerned appraisers. †¢Self-Documentation: At the start of the appraisal process, every assessee will fill a self-documentation form and give it to the concerned Appraiser. †¢Appraisal by Assessor: The Assessor will perform the assessment upon receiving the self Appraisal Form from the assessee.The forms to be used for appraisal is as given in the table below: Sl. NoTitle of the formUsed for Appraisal of 1Self Documentation formAll Associates at HOD Level 2Performance Appraisal Form(HOD)All Associates at HOD level †¢Acceptance of Appraisal: The Assessor will discuss the assessment results with the assessee. If the assessee agrees to the assessment, then the assessee and the concerned assessor will sign on the Performance Appraisal Form and the first assessor (CEO) will also give his final authorization.The appraisal form, complete in all respects is received from the CEO. †¢Follow-up of App raisal: The HOD (HR) will issue the revised salary/ promotion letters to the assesse based on the performance Appraisal form and discussions with the concerned first assessor. HR informs the revised salary/ promotion details of an assessee to finance for processing the same by updating the Associate database. †¢Appraisal Records: the HOD (HR) will maintain the performance appraisal records in the personal file of each associate. PERFORMANCE APPRAISAL FOR ASSOCIATES BELOW HOD LEVEL:PURPOSE: To appraise the performance of all the associates below HOD level in BAJAJ FINSERV LIMITED. PROCEDURE: †¢General: Annual appraisal is done during the month of April, every year for all the confirmed associates who are on the rolls as on 31st December of the previous year. †¢Distribution of Appraisal Forms: For annual appraisal, the HR will distribute the appraisal forms to the HOD for further distribution to the concerned appraisers. †¢Self-Documentation: At the start of the ap praisal process, every assessee will fill a self-documentation form and give it to the concerned Appraiser. Appraisal by Assessor: the Appraiser first assessor) will perform the assessment upon receiving the self Appraisal Form from the assessee and forward the performance appraisal form to the reviewer (second assessor). The forms to be used for appraisal is as given in the table below: Sl noTitle of the formUsed for appraisal of 1Self Documentation form – technicalAll technical Associates below HOD Level 2Self Documentation form – Non technicalAll non- technical Associates below HOD Level 3Performance Appraisal Form (PL/PM)All associates at designer and above level but below HOD Performance Appraisal Form (Team members)All Associates at Team member (Manager/asst manager) level 5Performance Appraisal Form (Non – Technical)All Associates below HOD Level in non- technical Dept The level of the associate to be appraised in areas other than technical is as per the policy Guidelines . †¢Appraisal by second Assessor: The reviewer (second Assessor) will review the assessment upon receiving the performance appraisal form from the appraiser (first assessor). During annual appraisal, the first/ second assessor will give the performance rating based on joint assessment. Acceptance of Appraisal: The appraiser (first assessor) will discuss the assessment results with the assessee. If the assessee agrees to the assessment, then the assessee and the concerned appraiser (first assessor) will sign on the performance appraisal form and the form will be forwarded to the second assessor/ – HOD for final authorization. In case of conflict, the appraisal form will be referred to the concerned reviewer (second assessor). The second assessor will be responsible for further action on the same.For all cases of conflict and where no second assessor exists, concerned HODs will act as the second assessor. The appraisal form, complete in all respects is re ceived by HR form the respective head of the department. †¢Follow-up of Appraisal: The HOD (HR) will issue the revised salary/ promotion letters through reporting managers to the assesses based on the performance Appraisal form and discussions with the concerned head of the department. HR informs the revised salary/ promotion a detail of an assessee to finance for processing the same by updating the Associate database. Appraisal Records: the HOD (HR) will maintain the performance appraisal records in the personal file of each associate. APPRAISAL FORMAT: SELF DOCUMENT FORM: †¢The self-document form mainly includes all those contents, which are needed for the evaluation of performance appraisal. †¢The employees through the online facility fill this document form. †¢This includes the general information like the associate id, name, designation, department, role/level, qualification, and date of joining, location, and relevant experience. †¢This form also inclu des the assessee remarks that have evaluated the form. The various areas like the employees achievement, area where the employee have not performed up to the expectation, assessee’s strengths, areas of improvement are also included. These areas are evaluated both by the Assessee, Assessor 1 and Assessor 2. †¢The training programs attended and which the employee would like to attend is also included. †¢The career aspiration of the employee is also a part of the self-document form . GENERAL INSTRUCTIONS FORTECHNICAL ASSOCIATES The Self-documentation form should be complete in all respects. 1. What do you see as your major achievements for the period under review? . What Factor(s) enabled you in your achievement? 3. Constraints, which affected your overall performance. List your own efforts to exploit the opportunities and overcome the difficulties? (Include your strategies and tactics) 4. Your initiatives and contributions to the organization during the review period e. g. Cost savings, revenues, profits, technology enhancements, process improvements etc 5. Project related data for the periodic review, which includes name of the project, role played by you in each of the project and number of hours put in. 6.What have you gained from the training programmes you have attended and where you have applied the learning? 7. Your key result areas for next review period. One of the key result areas should be for self-development. GENERAL INSURANCE FOR NON TECHNICAL ASSOCIATES The Self-documentation form should be complete in all respects. I. What do you see as your major achievements for the period under review? II. What Factor(s) enabled you in your achievement? III. Constraints, which affected your overall performance. List your own efforts to exploit the opportunities and overcome the difficulties? Include your strategies and tactics) IV. Your initiatives and contributions to the organization during the review period e. g. Cost savings, revenues, pro fits, technology enhancements, process improvements etc V. What have you gained from the training programmes you have attended and where you have applied the learning? VI. Your key result areas for next review period. One of the key result areas should be for self-development. CRITERIA OF APRRAISAL RELATED AREAS Task related areas: Achievement of results Output of work Quality of work Quality system Conceptual skills: Total perspective Integrated skillsProactive skills Analytical and Planning skills Human skills Leadership Ability to inspire and motivate Interpersonal relationship Tact and cooperation Training and development of subordinates Communication Resolution of conflict Functional skills: Job knowledge Planning and organizing Decision-making Personality attributes: Openness Empathy and sensitivity Integrity (intellectual and moral) Flexibility/Adaptability/Positive outlook Perseverance Creativity/Innovativeness Capacity to withstand stress Discipline Dependability Loyalty an d Commitment Self-confidence Appearance and Bearing. CHAPTER-4DATA ANALYSIS & INFERENCES Section -I : Regarding Setting Goals 1. Project goals are different from functional goals a)Strongly agree b) agree c) strongly disagree d) disagree TABLE 2. 1 OptionsNo of respondentsWeightsTotal score Strongly agree9218 Agree61161 Strongly disagree7-2-14 Disagree23-1-23 GRAPH 2. 1 Inference:Majority of the respondents opined that project goals and functional goals are one and the same with a mean of 0. 42. 2. If I can perform consistently it will see me in higher position sooner than later a) Strongly agree b) agree c) strongly disagree d) disagree TABLE 2. OptionsNo of respondentsweightsTotal score Strongly agree22+244 Agree54+154 Strongly disagree12-2-24 Disagree12-1-12 GRAPH 2. 2 Inference: Majority of the respondents are agreeing that they can expect themselves in higher position if they perform consistently with a weighted average of 0. 62. 3. My job presents scope for using my innovating skills in making my Decisions a) Strongly agree b) agree c) strongly disagree d) disagree TABLE 2. 3 OptionsNo of respondentsweightsTotal score Strongly agree22+244 Agree13+113 Strongly disagree11-2-22 Disagree51-1-51 GRAPH 2. 3Inference: Majority of the respondents opined their job does not showing present scope for using their innovating skills in making decisions with a mean of 0. 16. 4. Percent of target matching with goals in 2008 – 09 a) 80%-100% b) 60%-80% c) 40%-60% d) 20%-40% TABLE 2. 4 OpinionNo of respondentsValue in percentage 80%-100%3333% 60%-80%2929% 40%-60%3131% 20%-40%77% GRAPH 2. 4 Inference: 33% of respondents 80%-100%, 31% of respondents 40%-60%, 29% of respondents 60%-80% and 7% of respondents 20%-40%. The analysis shows that only few employees can meet their target on time.Section B: About the role of superior 5. I don’t hesitate to discuss any of my personal problems with my Superior a) Strongly agree b) agree c) strongly disagree d) disagree TA BLE 2. 5 OptionsNo of respondentsweightsTotal score Strongly agree14+228 Agree61+161 Strongly disagree5-2-10 Disagree20-1-20 GRAPH 2. 5 Inference: Majority of the respondents agree that they do not hesitate to discuss their personal problems with their superior with a weighted score of 0. 6. 6. My superior acknowledging and contributing to set the goals a) Strongly agree b) agree c) strongly disagree d) disagree TABLE 2. Options No of respondentsweightsTotal score Strongly agree9+218 Agree 77+177 Strongly disagree5-2-10 Disagree 9-1-9 GRAPH 2. 6 Inference :Majority of the respondents agree that their superiors acknowledge and contribute to set their goals with a weighted average of 0. 76. 7. My immediate superior frequently motivates me a) Strongly agree b) agree c) strongly disagree d) disagree TABLE 2. 7 Options No of respondentsweightsTotal score Strongly agree15+230 Agree 67+167 Strongly disagree6-2-12 Disagree 12-1-12 GRAPH 2. 7 Inference: Most of the respondents agree that the ir immediate superior frequently otivates them with a mean of 0. 73. 8. I want my appraisal to be a) Confidential b) open TABLE 2. 8 OpinionNo of respondentsValue in percentage Confidential6666% Open3434% Total100100 GRAPH 2. 8 Inference: 66% of employees desire that their Performance Appraisal must be confidential and remaining 34% accept it to be open. 9. My interpersonal team relationship with peer, superiors and subordinates a) Very good b) good c) adequate d) inadequate TABLE 2. 9 OptionsNo of respondentsweightsTotal score Strongly agree29+258 Agree59+159 Strongly disagree12-2-24 Disagree0-10 GRAPH 2. 9 Inference:Majority of the respondents have a positive opinion towards the interpersonal team relationship with peer, superiors and sub- ordinates is good with a mean of 0. 93 . 10. I feel proud and motivated when my superior appreciates my work a) Strongly agree b) agree c) strongly disagree d) disagree TABLE 2. 10 OptionsNo of respondentsweightsTotal score Strongly agree35+242 Agree57+162 Strongly disagree4-2-18 Disagree4-1-8 GRAPH 2. 10 Inference: Majority of the respondents feel proud and get motivated when their superior appreciates their work with weighted average of 1. 15. Section c: feedback and evaluation: 1. Iam open to the feedback given by the appraiser a) Always b) sometimes c) rarely TABLE 2. 11 OpinionNo of respondentsValue in percentage Always6464% Some times3030% Rarely66% GRAPH 2. 11 Inference: 64% of the respondents always, 30% of the respondents sometimes, 6% of the respondents rarely. Majority of the respondents are open to their feedback â€Å"always†. 12. Employee opinion about frequency of appraisal system a) Annually b) half-yearly c) quarterly TABLE 2. 12 OpinionNo of respondentsValue in percentage Annually2828% Half-yearly5858% Quarterly1414% GRAPH 2. 12 Inference: 8% of the respondent’s half-yearly. 28% of the respondents annually, 14% of the respondents quarterly. The analyst gives a clear picture that most of the associates like to get appraisal â€Å"half-yearly†. 13. Opinion on performance linked promotional policy a) Strongly agree b) agree c) strongly disagree d) disagree TABLE 2. 13 OptionsNo of respondentsweightsTotal score Strongly agree21+242 Agree62+162 Strongly disagree9-2-18 Disagree8-1-8 GRAPH 2. 13 Inference: Majority of the respondents agree that the promotions are based on the rating derived from performance appraisal with weighted average of 0. 8. 14. The HRD department follows up the training needs Identified using appraisal seriously a) Strongly agree b) agree c) strongly disagree d) disagree TABLE 2. 14 OptionsNo of respondentsweightsTotal score Strongly agree7+214 Agree21+121 Strongly disagree18-2-36 Disagree54-1 -54 GRAPH 2. 14 Inference: Majority of the respondents are moderately agreed that the HRD dept follows the training needs identify the appraisal with a mean of 0. 55. 15. According to my opinion the following system is useful for our organization a) Team a ppraisal b) 360 degree appraisal c) self appraisal TABLE 2. 15OpinionNo of respondentsValue in percentage Team appraisal2929% 360 degree appraisal3636% Self appraisal3535% GRAPH 2. 15 Inference: 36% of respondents 360 degree appraisal, 35 % of the respondents self appraisal , 29% of the respondents team appraisal, majority of the respondents opined that the 360 degree appraisal is suitable for their organization. 16. Team work is considered as a factor in appraising employee performance a) Strongly agree b) agree c) strongly disagree d) disagree TABLE 2. 16 OptionsNo of respondentsweightsTotal score Strongly agree24+248 Agree58+158 Strongly disagree8-2-16 Disagree10-1 10 GRAPH 2. 16 Inference: Most of the respondents agree that team work is considered as a factor in appraising their employee performance with a mean of 0. 8. 17. My opinion on present rating system a) Very good b) good c) fair d) poor TABLE 2. 17 OptionsNo of respondentsWeightsTotal score Very good13339 Good562112 Fai r18118 Poor13-1-13 GRAPH 2. 17 Inference: Most of the respondents are opined that their present rating system is good with a weight age score of 1. 56 Section D: organization effectiveness: 18. At BFL the appraisal system provides for an open discussion between the Appraiser and appraise ) Strongly agree b) agree c) strongly disagree d) disagree TABLE 2. 18 OptionsNo of respondentsweightsTotal score Strongly agree18+236 Agree67+167 Strongly disagree8-2-14 Disagree7-1 -7 GRAPH 2. 18 Inference: Majority of the respondents are agree that at BFL the appraisal system provides for a open discussion between the appraiser and appraise with a mean of 0. 82. 19. The appraisal system at BFL given each appraise an idea of what is expected Of him next year a) Very true b) true c) partly true d) not true TABLE 2. 19 OptionsNo of respondentsweightsTotal scoreVery true15345 True532106 Partly true22122 Not true10-1-10 GRAPH 2. 19 Inference: Majority of the respondents opined that A. S at BFL given e ach appraise an idea of what is expected of him next year with a weighted average of 1. 63 20. Up to what extent do the higher authority implement the Suggestions provide By employee a) All times b) some times c) none TABLE 2. 20 OpinionNo of respondentsValue in percentage All times1818 Some times6767 None1515 GRAPH 2. 20 Inference: 67% of the respondents sometimes, 18% of the respondents all times, 15% of the respondents none.Majority of the respondents agreeing that the higher authority implement the suggestion provide by employee â€Å"sometimes†. 21. Management support to improve the job performance a) strongly agree b) agree c) strongly disagree d) disagree TABLE 2. 21 OptionsNo of respondentsWeightsTotal score Strongly agree20+240 Agree67+167 Strongly disagree5-2-10 Disagree8-1 -8 GRAPH 2. 21 Inference: Majority of the respondents are agree that the management supports to improve their job performance of employees with a mean of 0. 89. 22. Performance appraisal helps me to know my strengths and weakness after the Appraisal ) Strongly agree b) agree c) strongly disagree d) disagree TABLE 2. 22 OptionsNo of respondentsweightsTotal score Strongly agree17+234 Agree61+161 Strongly disagree11-2-22 Disagree11-1 -11 GRAPH 2. 22 Inference: Majority of the respondents opined performance appraisal helps to know their strengths and weakness after the appraisal with a mean of 0. 62. 23. The performance appraisal is based on the real records and facts but not on Impressions a) Strongly agree b) agree c) strongly disagree d) disagree TABLE 2. 23 OptionsNo of respondentsweightsTotal score Strongly agree14+228Agree66+166 Strongly disagree9-2-18 Disagree11-1-11 GRAPH 2. 23 Inference: Most of the respondents agree that performance appraisal is based on the real records and facts but not an impressions with a weighted of 0. 65. 24. Iam paid worth my contribution a) Strongly agree b) agree c) strongly disagree d) disagree TABLE 2. 24 OptionsNo of respondentsweightsTot al score Strongly agree10+220 Agree66+166 Strongly disagree13-2-26 Disagree11-1-11 GRAPH 2. 24 Inference: Most of the respondents are moderately accepting they paid worth their contribution with a weighted average of 0. 49. CHAPTER-6Findings, Suggestions & Conclusion Findings 1 Majority of the respondents opined that project goals and functional goals are one and the same with a mean of 0. 42. 2. Majority of the respondents are agree that they can expect themselves in higher position if they perform consistently with a weighted average of 0. 62. 3. Majority of the respondents opined their job does not showing present scope for using their innovating skills in making decisions with a mean of 0. 16. 4. 33% of respondents 80%-100%, 31% of respondents 40%-60%, 29% of respondents 60%-80% and 7% of respondents 20%-40%.The analysis shows that only few employees can meet their target on time. 5. Majority of the respondents agree that they do not hesitate to discuss their personal problems w ith their superior with a weighted score of 0. 6. 6. Majority of the respondents agree that their superiors acknowledge and contribute to set their goals with a weighted average of 0. 76. 7. Most of the respondents agree that their immediate superior frequently motivates them with a mean of 0. 73. 8. 66% of employees desire that their Performance Appraisal must be confidential and remaining 34% accept it to be open. . Majority of the respondents have a positive opinion towards the interpersonal team relationship with peer, superiors and sub- ordinates is good with a mean of 0. 93 . 10. Majority of the respondents feels proud and get motivated when their superior appreciates their work with weighted average of 1. 15. 11. 64% of the respondents always, 30% of the respondents sometimes, 6% of the respondents rarely. Majority of the respondents are open to their feedback â€Å"always†. 12. 58% of the respondent’s half-yearly. 28% of the respondents annually, 14% of the res pondents quarterly.The analyst gives a clear picture that most of the associates like to get appraisal â€Å"half-yearly†. 13. Majority of the respondents agree that the promotions are based on the rating derived from performance appraisal with weighted average of 0. 78. 14. Majority of the respondents are moderately agree that the HRD dept follows the training needs identify the appraisal with a mean of 0. 55. 15. 36% of respondents 360 degree appraisal, 35 % of the respondents self appraisal, 29% of the respondents team appraisal, majority of the respondents opined that the 360 degree appraisal is suitable for their organisation. 6. Most of the respondents agree that team work is considered as a factor in appraising their employee performance with a mean of 0. 8. 17. Most of the respondents are opined that their present rating system is good with a weight avg score of 1. 56 18. Majority of the respondents is agree that at BFL the appraisal system provides for an open discus sion between the appraiser and appraise with a mean of 0. 82. 19. Majority of the respondents opined that A. S at BFL given each appraise an idea of what is expected of him next year with a weighted average of 1. 3. 20. 67% of the respondents sometimes, 18% of the respondents all times, 15% of the respondents none. Majority of the respondents agreeing that the higher authority implement the suggestion provide by employee â€Å"sometimes†. 21. Majority of the respondents are agreeing that the management supports to improve their job performance of employees with a mean of 0. 89. 22. Majority of the respondents opined performance appraisal helps to know their strengths and weakness after the appraisal with a mean of 0. 62. 23.Most of the respondents agree that performance appraisal is based on the real records and facts but not an impressions with a weighted of 0. 65. 24. Most of the respondents are moderately accepting they paid worth their contribution with a weighted average of 0. 49. SUGGESTIONS 1. Implementation of innovative ideas in decision making may be encouraged by the management. 2. The management may design the performance linked promotions. 3. The involvement of HRD department may be considered by management in assessing the training needs of employees based performance appraisal system. 4.The superiors should be more approachable when the employees come to them with improvement technique. On the whole the Performance Appraisal system at Bajaj Finserv Limited is Satisfactory. There are few areas which need due attention. The rating must be based purely on the performance. CONCLUSION: The conclusions that emerged from the study of Performance Appraisal System at Bajaj Finserv Limited are that the sampled associates prefer that some change should be brought down in the existing system. The associates feel that the best source of motivation is encouragement by superiors.A 360-degree appraisal system has been recommended by some of the associate s. Training needs to be identified based on the ratings and effective training programs must be conducted where in the associates can fulfill self development needs as well as organizational needs. LIMITATION OF THE STUDY: ?Options expressed by the employee in the questionnaire may not be very genuine. ?What the associates actually feel may not be truly expressed and hence there is the conclusion drawn from them need not apply to the whole organization. Could reach to a limited number of documents of different insurance companies in regard to the management and other policies and resultant figures so as to identify the exact cause of their lag in performance. ?Non-Proficiency in technical aspects of insurance companies might have hindered the best analysis of the findings. . Bibliography WEBSITES: www. bajajfinserv. com www. answers. com www. performanceappraisal. com www. google. com www. yahoo. com NEWSPAPERS AND MAGAZINE: The Hindu Personnel management Business today ICFAI magazi nes BOOKS: Personnel Management – Edwin FlippoHuman Resources and Personnel Management-k. Ashwathappa Essential of Human Resource Management-P. SubbaRao Personnel Management-C. Memoria Performance Management and Coaching-Prem Chadda Appendices Questionnaire Section -I : Regarding Setting Goals 1. Project goals are different from functional goals a)Strongly agree b) agree c) strongly disagree d) disagree 2. If I can perform consistently it will see me in higher position sooner than later a) Strongly agree b) agree c) strongly disagree d) disagree 3. My job presents scope for using my innovating skills in making my Decisions ) Strongly agree b) agree c) strongly disagree d) disagree 4. Percent of target matching with goals in 2007 – 08 a) 80%-100% b) 60%-80% c) 40%-60% d) 20%-40% Section-II: About the role of Superior 5. I don’t hesitate to discuss any of my personal problems with my Superior a) Strongly agree b) agree c) strongly disagree d) disagree 6. My superi or acknowledging and contributing to set the goals a) Strongly agree b) agree c) strongly disagree d) disagree 7. My immediate superior frequently motivates me a) Strongly agree b) agree c) strongly disagree d) disagree 8.I want my appraisal to be a) Confidential b) open 9. My interpersonal team relationship with peer, superiors and subordinates a) Very good b) good c) adequate d) inadequate 10. I feel proud and motivated when my superior appreciates my work a) Strongly agree b) agree c) strongly disagree d) disagree 11. Iam open to the feedback given by the appraiser a) Always b) sometimes c) rarely Section-III: Regarding Feedback and Evaluation 11. Iam open to the feedback given by the appraiser a) Always b) sometimes c) rarely 12. Employee opinion about frequency of appraisal system ) Annually b) half-yearly c) quarterly 13. Opinion on performance linked promotional policy a) Strongly agree b) agree c) strongly disagree d) disagree 14. The HRD department follows up the training n eeds Identified using appraisal seriously a) Strongly agree b) agree c) strongly disagree 15. According to my opinion the following system is useful for our organization a) Team appraisal b) 360 degree appraisal c) self appraisal 16. Team work is considered as a factor in appraising employee performance a) Strongly agree b) agree c) strongly disagree d) disagree 17.My opinion on present rating system a) Very good b) good c) fair d) poor Section –IV organization effectiveness 18. At BFL the appraisal system provides for an open discussion between the Appraiser and appraise a) Strongly agree b) agree c) strongly disagree d) disagree 19. The appraisal system at BFL given each appraise an idea of what is expected Of him next year a) Very true b) true c) partly true d) not true 20. Up to what extent do the higher authority implement the Suggestions provide By employee a) All times b) some times c) none 1. Management support to improve the job performance a) Strongly agree b) agree c) strongly disagree d) disagree .22. Performance appraisal helps me to know my strengths and weakness after the Appraisal a) Strongly agree b) agree c) strongly disagree d) disagree 23. The performance appraisal is based on the real records and facts but not on Impressions a) Strongly agree b) agree c) strongly disagree d) disagree 24. Iam paid worth my contribution a) Strongly agree b) agree c) strongly disagree d) disagree