A STUDY ON EMPLOYEE JOB SATISFACTION At EDELWEISS BROKING LIMITED (Report submitted to in partial fulfillment of the requirement for the

award of Master of Business Administration) Submitted by

Roll No: Under the guidance of

COLLEGE OF ENGINEERING & TECHNOLOGY (Affiliated to JNTU, Hyderabad) 2009- 2011

DECLARATION

I declare that this project report entitled EMPLOYEE JOB SATISFACTION is original and bonafide work of my own in the partial fulfillment of the requirements for the award of the Degree of MASTER OF BUSINESS ADMINISTRATION and submitted to the Department of Management, ENGINEERING AND TECHNOLOGY. COLLEGE OF

The data that has been collected by me is truly authentic and contains true and complete information.

ACKNOWLEDGEMENT

Accomplishment of a task with desired success calls for dedication towards work and prompting guidance, co-operation and deliberation from seniors. At the outset, I would like to thank Mr. .., Associate Professor, College of Engineering and Technology for his support and professional approach in guiding me through the careful details of the project. I am very grateful to my company guides, Mr.A.Sridhar Nag and Ms.P.Prasanna who not only helped me on this topic but also helped me to understand the nuances of capital market. In spite of having a very busy schedule, they made sure in every way that we acquire the best possible exposure and knowledge during our project. I would be failing in my duty if I do no express my deep sense of gratitude to Mr., H.O.D. and all the faculty members for their valuable advice and guidance in this project. I am also thankful to our college Principal, Mr..

CONTENTS

Chapter No.

Name of the concept Introduction Need of the study Objectives of the study

Page No. 6 9 10 11 12-15 16 17-21 21-38 39-44 45-55 55-60 61 62-64

I Scope of the study Methodology of the study Limitations of the study II III IV V VI VII VIII Review of Literature Industry Profile Company Profile Data analysis and interpretation Findings, Suggestions and Conclusion Bibliography Annexure

CHAPTER I - INTRODUCTION

INTRODUCTION Job satisfaction describes how content an individual is with his or her job. It is a relatively recent term since in previous centuries the jobs available to a particular person were often predetermined by the occupation of that persons parent. There are a variety of factors that can influence a persons level of job satisfaction. Some of these factors include the level of pay and benefits, the perceived fairness o the promotion system within a company, the quality of the working conditions, leadership and social relationships, the job itself (the variety of tasks involved, the interest and challenge the job generates, and the clarity of the job description/requirements). The happier people are within their job, the more satisfied they are said to be. Job satisfaction is not the same as motivation, although it is clearly linked. Job design aims to enhance job satisfaction and performance methods include job rotation, job enlargement and job enrichment. Other influences on satisfaction include the management style and culture, employee involvement, empowerment and autonomous workgroups. Job satisfaction is a very important attribute which is frequently measured by organizations. The most common way of measurement is the use of rating scales where employees report their reactions to their jobs. Questions relate to relate of pay, work responsibilities, variety of tasks, promotional opportunities the work itself and co-workers. Some questioners ask yes or no questions while others ask to rate satisfaction on 1 5 scale 9where 1 represents not all satisfied and 5 represents extremely satisfied). Definitions Job satisfaction has been defined as a pleasurable emotional state resulting from the appraisal of ones job; an affective reaction to ones job; and an attitude towards ones job. Weiss (2007) has argued that job satisfaction is an attitude but points out that researchers should clearly distinguish the objects of cognitive evaluation which are affect (emotion), beliefs and behaviors. This definition suggests

that we from attitudes towards our jobs by taking into account our feelings, our beliefs, and our behaviors. Affect Theory Edwin A. Lockes Range of Affect Theory (1976) is arguably the most famous job satisfaction model. The main premises of this theory is that satisfaction is determined by a discrepancy between what one wants in a job and what one has in a job. Further, the theory states that how much one values a given facet of work (e.e. the degree of autonomy in a position) moderates how satisfied/dissatisfied one becomes when expectations are/are not met. When a person values a particular facet of a job, his satisfaction is more greatly impacted both positively (when expectations are met) and negatively (when expectations are not met), compared to one who does not value that facet. To illustrate, if Employee A values autonomy in the workplace and Employee B is indifferent about autonomy, then Employee A would be more satisfied in a position that offers a high degree of autonomy compared to Employee B. this theory also states that too much of a particular facet will produces stronger feelings of dissatisfaction the more a worker values that facet. Dispositional Theory Another well known job satisfaction theory is the Dispositional Theory. It is a very general theory that suggests that people have innate dispositions that cause them to have tendencies toward a certain level of satisfaction, regardless of ones job. This approach became a notable explanation of job satisfaction in light evidence that job satisfaction tends to be stable over time and across careers and jobs. Research also indicates that identical twins have similar levels of job satisfaction. A significant model that narrowed the scope of the Dispositional Theory was the core Self-evaluations Model, proposed by Timorthy A. Judge in 1998. Judge argued that there are four Core Self-evaluations that determine ones disposition towards job satisfaction: self-esteem, general self-efficacy, locus of control, and neuroticism. This model states that higher levels of self-esteem (the value one places on his self) and general self-efficacy (the belief in ones own competence) lead to higher work satisfaction.Having an internal locus of control (believing one has 7

control over her/his own life, as opposed to outside forces having control) leads to higher job satisfaction. Finally, lower levels of neuroticism lead to higher job satisfaction. Two Factor Theory (Motivation Hygiene Theory) Fredrick Herzbergs Two factor theory (also known as Motivator Hygiene Theory) attempts to explain satisfaction and motivation in the workplace. This theory states that satisfaction and dissatisfaction are driven by different factors motivation and hygiene factors, respectively. Motivating factors are those aspects of the job that make people want o perform, and provide people with satisfaction. These motivating factors are considered to be intrinsic to the job, or the work carried out. Motivating factors include aspects of the working environment such as pay, company policies, supervisory practices, and other working conditions. While Herzbergs model has stimulated much research, researchers have been unable to reliably empirically prove the model, with Hackman & Oldham suggesting that Herzbergs original formulation of the model may have been a methodological artifact. Furthermore, the theory does not consider individual differences, conversely predicting all employees will react in an identical manner to changes in motivating/hygiene factors. Finally, the model has been criticised in that it does not specify how motivating/hygiene factors are to be measured. Measuring Job Satisfaction There are many methods for measuring job satisfaction. By far, the most common method for collecting data regarding job satisfacting is the Likert scale (named after Rensis Likert). Other less common methods of for gauging job satisfaction include: Yes/No questions, True/False questions, point systems, checklist, forced choice answers. The Job Descriptive Index (JDI), created by smith, Kendall, & Hulin (1969), job satisfaction that has been widely used. It measures ones satisfaction in five facets: pay, promotions and opportunities, coworkers, supervision, and the work itself. The scale is simple, participants answer either yes, no, or decide in response to whether given statements accurately describe one job. 8

The Job in General Index is an overall measurement of job satisfaction. It was an improvement to the job Descriptive Index because the JDI focused too much on individual facets and not enough on work satisfaction in general OBJECTIVES OF THE STUDY To find that whether the employees are satisfied or not. To analyse the companys working environment. To check the Degree of satisfaction of employees. To find that they are satisfied with their job profile or not. To find that employees are working with their full capabilities or not.

Scope of the study This study emphasis in the following scope: To identify the employees level of satisfaction upon that job. This study is helpful to that organisation for conducting further research. It is helpful to identify the employers level of satisfaction towards welfare measure. This study is helpful to the organization for identifying the area of dissatisfaction of job of the employees. This study helps to make a managerial decision to the company.

Research Methodology

Research methodology is the systematic way to solve the research problem. It gives an idea about various steps adopted by the researcher in a systematic manner with an objective to determine various manners. Research Design A research design is considered as the framework or plan for a study that guides as well as helps the data collection and analysis of data. The research design may be exploratory, descriptive and experimental for the present study. The descriptive research design is adopted for this project. Research Approach The research worker contacted the respondents personally with well-prepared sequentially arranged questions. The questionnaire is prepared on the basis of objectives of the study. Direct contract is used for survey, i.e., contacting employees directly in order to collect data. Sample size The study sample constitutes 50 respondents constituting in the research area. Sampling Area The study is conducted in employees of Edelweiss Broking Limited Sampling Design The researcher has used probability sampling in which stratified random sampling is used. Collection of Data

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Most of the data collected by the researcher is primary data through personal interview, where the researcher and the respondent operate face to face. Research Instrument For the purpose of the study a structured questionnaire has been used as a research instrument tool which consists of open ended questions, multiple choice and dichotomous questions in order to get data. Thus, Questionnaire is the data collection instrument used in the study. All the questions in the questionnaire are organized in such a way that elicit all the relevant information that is needed for the study For any study there must be data for analysis purpose. Without data there is no means of study. Data collection plays an important role in any study. It can be collected from various sources. I have collected the data from two sources which are given below: 1. Primary Data Personal Investigation Observation Method Information from correspondents Information from superiors of the organization Published Sources such as Journals, Government Reports, Newspapers and Magazines etc. Unpublished Sources such as Company Internal reports prepare by them given to their analyst & trainees for investigation. Websites like Edelweiss official site, some other sites are also searched to find data. Statistical Tools

2. Secondary Data

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The statistical tools used for analyzing the data collected are percentage method,bar diagrams and pie diagrams

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Analysis of Data The data are collected through survey and books, reports, newspapers and internet etc., the survey conducted among the employees of . The data collected by the researcher are tabulated and analyzed in such a way to make interpretations. Various steps, which are required to fulfill the purpose, i.e., editing, coding, and tabulating. Editing refers to separate, correct and modify the collected data. Coding refers to assigning number or other symbols to each answer for placing them in categories to prepare data for tabulation refers to bring together the similar data in rows and columns and totaling them in an accurate and meaningful manner The collected data are analyzed and interrupted using statistical tools and techniques. 1.4 Research period The research period of the study has for 45 days LIMITATIONS OF STUDY 1. Short time period: The time period for carrying out the research was short as a result of which many facts have been left unexplored. 2. Lack of resources: Lack of time and other resources as it was not possible to conduct survey at large level. 3. Small no. of respondents: Only 20 employees have been chosen which is a small number, to represent whole of the population. 4. Unwillingness of respondents: While collection of the data many consumers were unwilling to fill the questionnaire. Respondents were having a feeling of wastage of time for them. 5. Small area for research: The area for study was Kaithal, which is quite a small area to judge job satisfaction level. 13

CHAPTER II - REVIEW OF LITERATURE

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LITERATURE REVIEW The literature survey conducted here include the academic books and website. the study being conducted was to evaluate the effectiveness of recruitment and selection policy in relation with increasing attrition problem. Gui L, Barriball KL, While AE.2nd Military Medical University, School of Nursing, Shanghai, PR China. Job satisfaction among nurses is of concern throughout the world but the satisfaction of nurse teachers has received less attention and no review of global research on the topic has been published. A comprehensive literature review (1976-2007) was undertaken from an international perspective (n=26 papers and 4 doctoral abstracts) to examine the state of knowledge about nurse teachers' job satisfaction over time. Coverage over the last 30 years was selected to examine if the level and contributing factors to nurse teachers' job satisfaction have changed during a time which has seen considerable developments and reorganization of nurse education as well as the role of nurse teachers. The purpose of this Part I paper is to: (i) review the different measurements of job satisfaction, (ii) report the job satisfaction levels of nurse teachers and, (iii) identify the components of job satisfaction of nurse teachers. This paper provides the foundation for the Part II paper which reviews the literature regarding the effects and related factors of nurse teachers' job satisfaction. 1. Prasad L.M. Human resource management pp219-purpose and importance of Recruitment & selection can not be ignored as by this org. 2. Bhattacharyya Kumar Dipak, Human resource management Excel books pp166.-what is basically recruitment, its introduction, how to carry out recruitment.. 3. Dwivedi R.S. Managing Human Resource, Personnel Management (Indian enterprises, Galgotia publishing company, New delhi,1st edition, pp96-97 -what is a recruitment policy .what factors should be include while 15

formulating. 4. Rao V.S.P, Human Resource Management, Excel books,1st edition,pp151. Importance of tests while selecting the candidates for the job, as these tests help the interviewer to better judge the candidate his competency for the particular jobs. 5. Bernardin John H, Human Resource Management, Tata Mc Graw Hill publishing company ltd., New Delhi, pp 160-163.the effectiveness of selection method depends upon the reliability of the data ,validity of the purpose & utility of the methods. 6. Gulati Ambika, Training and Management, vol3, aug07, pp18-19, Importance of recruitment function in an organisation.

7. Gulati Ambika, Training and Management, vol3, june 07,pp46-4 changing role of Human Resource 8. Gulati Ambika, Training and Management,vol3 a single click for all recruitment solutions. 9. Rao Janardhan N, MBA Reviewmar07,pp33-37.-Paradigam shifts in human resources. 10. Kothari C.B. Research Methodology-Methods & Techniques, new age international research methodology

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CHAPTER III - INDUSTRY PROFILE

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FINANCIAL MARKETS Finance is the pre-requisite for modern business and financial institutions play a vital role in the economic system. It is through financial markets and institutions that the financial system of an economy works. Financial markets refer to the institutional arrangements for dealing in financial assets and credit instruments of different types such as currency, cheques, bank deposits, bills, bonds, equities, etc.

Financial market is a broad term describing any marketplace where buyers and sellers participate in the trade of assets such as equities, bonds, currencies and derivatives. They are typically defined by having transparent pricing, basic regulations on trading, costs and fees and market forces determining the prices of securities that trade.

Generally, there is no specific place or location to indicate a financial market. Wherever a financial transaction takes place, it is deemed to have taken place in the financial market. Hence financial markets are pervasive in nature since financial transactions are themselves very pervasive throughout the economic system. For instance, issue of equity shares, granting of loan by term lending institutions, deposit of money into a bank, purchase of debentures, sale of shares and so on.

In a nutshell, financial markets are the credit markets catering to the various needs of the individuals, firms and institutions by facilitating buying and selling of financial assets, claims and services.

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CLASSIFICATION OF FINANCIAL MARKETS

Financial markets

Organized markets

Unorganized markets

Capital Markets

Money Markets

Money Lenders, Indigenuos Bankers

Industrial Securities Market

Call Money Market

Primary Market

Commercial Bill Market

Secondary market

Treasury Bill Market

Government Securities Market Long-term loan market

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Capital Market The capital market is a market for financial assets which have a long or indefinite maturity. Generally, it deals with long term securities which have a period of above one year. In the widest sense, it consists of a series of channels through which the savings of the community are made available for industrial and commercial enterprises and public authorities. As a whole, capital market facilitates raising of capital.

The major functions performed by a capital market are: 1. Mobilization of financial resources on a nation-wide scale. 2. Securing the foreign capital and know-how to fill up deficit in the required resources for economic growth at a faster rate. 3. Effective allocation of the mobilized financial resources, by directing the same to projects yielding highest yield or to the projects needed to promote balanced economic development.

Capital market consists of primary market and secondary market. Primary market: Primary market is a market for new issues or new financial claims. Hence it is also called as New Issue Market. It basically deals with those securities which are issued to the public for the first time. The market, therefore, makes available a new block of securities for public subscription. In other words, it deals with raising of fresh capital by companies either for cash or for consideration other than cash. The best

20

example could be Initial Public Offering (IPO) where a firm offers shares to the public for the first time.

Secondary market: Secondary market is a market where existing securities are traded. In other words, securities which have already passed through new issue market are traded in this market. Generally, such securities are quoted in the stock exchange and it provides a continuous and regular market for buying and selling of securities. This market consists of all stock exchanges recognized by the government of India.

Money Market Money markets are the markets for short-term, highly liquid debt securities. Money market securities are generally very safe investments which return relatively low interest rate that is most appropriate for temporary cash storage or short term time needs. It consists of a number of sub-markets which collectively constitute the money market namely call money market, commercial bills market, acceptance market, and Treasury bill market.

Derivatives Market The derivatives market is the financial market for derivatives, financial instruments like futures contracts or options, which are derived from other forms of assets. A derivative is a security whose price is dependent upon or derived from one or more underlying assets. The derivative itself is merely a contract between two or more parties. Its value is determined by fluctuations in the underlying asset. The most common underlying 21

assets include stocks, bonds, commodities, currencies, interest rates and market indexes. The important financial derivatives are the following: Forwards: Forwards are the oldest of all the derivatives. A forward contract refers to an agreement between two parties to exchange an agreed quantity of an asset for cash at a certain date in future at a predetermined price specified in that agreement. The promised asset may be currency, commodity, instrument etc. Futures: Future contract is very similar to a forward contract in all respects excepting the fact that it is completely a standardized one. It is nothing but a standardized forward contract which is legally enforceable and always traded on an organized exchange. Options: A financial derivative that represents a contract sold by one party (option writer) to another party (option holder). The contract offers the buyer the right, but not the obligation, to buy (call) or sell (put) a security or other financial asset at an agreed-upon price (the strike price) during a certain period of time or on a specific date (exercise date). Call options give the option to buy at certain price, so the buyer would want the stock to go up. Put options give the option to sell at a certain price, so the buyer would want the stock to go down. Swaps: It is yet another exciting trading instrument. Infact, it is the combination of forwards by two counterparties. It is arranged to reap the benefits arising from the fluctuations in the market either currency market or interest rate market or any other market for that matter.

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Foreign Exchange Market It is a market in which participants are able to buy, sell, exchange and speculate on currencies. Foreign exchange markets are made up of banks, commercial companies, central banks, investment management firms, hedge funds, and retail forex brokers and investors. The forex market is considered to be the largest financial market in the world. It is a worldwide decentralized over-the-counter financial market for the trading of currencies. Because the currency markets are large and liquid, they are believed to be the most efficient financial markets. It is important to realize that the foreign exchange market is not a single exchange, but is constructed of a global network of computers that connects participants from all parts of the world. Commodities Market It is a physical or virtual marketplace for buying, selling and trading raw or primary products. For investors' purposes there are currently about 50 major commodity markets worldwide that facilitate investment trade in nearly 100 primary commodities. Commodities are split into two types: hard and soft commodities. Hard commodities are typically natural resources that must be mined or extracted (gold,

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rubber, oil, etc.), whereas soft commodities are agricultural products or livestock (corn, wheat, coffee, sugar, soybeans, pork, etc.)

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INDIAN FINANCIAL MARKETS India Financial market is one of the oldest in the world and is considered to be the fastest growing and best among all the markets of the emerging economies.

The history of Indian capital markets dates back 200 years toward the end of the 18th century when India was under the rule of the East India Company. The development of the capital market in India concentrated around Mumbai where no less than 200 to 250 securities brokers were active during the second half of the 19th century. The financial market in India today is more developed than many other sectors because it was organized long before with the securities exchanges of Mumbai, Ahmadabad and Kolkata were established as early as the 19th century. By the early 1960s the total number of securities exchanges in India rose to eight, including Mumbai, Ahmadabad and Kolkata apart from Madras, Kanpur, Delhi, Bangalore and Pune. Today there are 21 regional securities exchanges in India in addition to the centralized NSE (National Stock Exchange) and OTCEI (Over the Counter Exchange of India). However the stock markets in India remained stagnant due to stringent controls on the market economy that allowed only a handful of monopolies to dominate their respective sectors. The corporate sector wasn't allowed into many industry segments, which were dominated by the state controlled public sector resulting in stagnation of 25

the economy right up to the early 1990s. Thereafter when the Indian economy began liberalizing and the controls began to be dismantled or eased out; the securities markets witnessed a flurry of IPOs that were launched. This resulted in many new companies across different industry segments to come up with newer products and services.

A remarkable feature of the growth of the Indian economy in recent years has been the role played by its securities markets in assisting and fuelling that growth with money rose within the economy. This was in marked contrast to the initial phase of growth in many of the fast growing economies of East Asia that witnessed huge doses of FDI (Foreign Direct Investment) spurring growth in their initial days of market decontrol. During this phase in India much of the organized sector has been affected by high growth as the financial markets played an all-inclusive role in sustaining financial resource mobilization. Many PSUs (Public Sector Undertakings) that decided to offload part of their equity were also helped by the well-organized securities market in India.

The launch of the NSE (National Stock Exchange) and the OTCEI (Over the Counter Exchange of India) during the mid 1990s by the government of India was meant to usher in an easier and more transparent form of trading in securities. The NSE was conceived as the market for trading in the securities of companies from the large-scale sector and the OTCEI for those from the small-scale sector. While the NSE has not just done well to grow and evolve into the virtual backbone of capital markets in India the OTCEI struggled and is yet to show any sign of growth and development. The 26

integration of IT into the capital market infrastructure has been particularly smooth in India due to the countrys world class IT industry. This has pushed up the operational efficiency of the Indian stock market to global standards and as a result the country has been able to capitalize on its high growth and attract foreign capital like never before.

The regulating authority for capital markets in India is the SEBI (Securities and Exchange Board of India). SEBI came into prominence in the 1990s after the capital markets experienced some turbulence. It had to take drastic measures to plug many loopholes that were exploited by certain market forces to advance their vested interests. After this initial phase of struggle SEBI has grown in strength as the regulator of Indias capital markets and as one of the countrys most important institutions.

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FINANCIAL MARKET REGULATIONS Regulations are an absolute necessity in the face of the growing importance of capital markets throughout the world. The development of a market economy is dependent on the development of the capital market. The regulation of a capital market involves the regulation of securities; these rules enable the capital market to function more efficiently and impartially. A well regulated market has the potential to encourage additional investors to partake, and contribute in, furthering the development of the economy. The chief capital market regulatory authority is Securities and Exchange Board of India (SEBI). SEBI is the regulator for the securities market in India. It is the apex body to develop and regulate the stock market in India It was formed officially by the Government of India in 1992 with SEBI Act 1992 being passed by the Indian Parliament. Chaired by C B Bhave, SEBI is headquartered in the popular business district of Bandra-Kurla complex in Mumbai, and has Northern, Eastern, Southern and Western regional offices in New Delhi, Kolkata, Chennai and Ahmedabad. In place of Government Control, a statutory and autonomous regulatory board with defined responsibilities, to cover both development & regulation of the market, and independent powers has been set up.

The basic objectives of the Board were identified as:

to protect the interests of investors in securities; to promote the development of Securities Market; to regulate the securities market and 28

For matters connected therewith or incidental thereto.

Since its inception SEBI has been working targeting the securities and is attending to the fulfillment of its objectives with commendable zeal and dexterity. The improvements in the securities markets like capitalization requirements, margining, establishment of clearing corporations etc. reduced the risk of credit and also reduced the market.

SEBI has introduced the comprehensive regulatory measures, prescribed registration norms, the eligibility criteria, the code of obligations and the code of conduct for different intermediaries like, bankers to issue, merchant bankers, brokers and subbrokers, registrars, portfolio managers, credit rating agencies, underwriters and others. It has framed bye-laws, risk identification and risk management systems for Clearing houses of stock exchanges, surveillance system etc. which has made dealing in securities both safe and transparent to the end investor.

Another significant event is the approval of trading in stock indices (like S&P CNX Nifty & Sensex) in 2000. A market Index is a convenient and effective product because of the following reasons:

It acts as a barometer for market behavior; It is used to benchmark portfolio performance; It is used in derivative instruments like index futures and index options; 29

It can be used for passive fund management as in case of Index Funds.

Two broad approaches of SEBI is to integrate the securities market at the national level, and also to diversify the trading products, so that there is an increase in number of traders including banks, financial institutions, insurance companies, mutual funds, primary dealers etc. to transact through the Exchanges. In this context the introduction of derivatives trading through Indian Stock Exchanges permitted by SEBI in 2000 AD is a real landmark. SEBI has enjoyed success as a regulator by pushing systemic reforms aggressively and successively (e.g. the quick movement towards making the markets electronic and paperless rolling settlement on T+2 bases). SEBI has been active in setting up the regulations as required under law. STOCK EXCHANGES IN INDIA Stock Exchanges are an organized marketplace, either corporation or mutual organization, where members of the organization gather to trade company stocks or other securities. The members may act either as agents for their customers, or as principals for their own accounts. As per the Securities Contracts Regulation Act, 1956 a stock exchange is an association, organization or body of individuals whether incorporated or not,

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established for the purpose of assisting, regulating and controlling business in buying, selling and dealing in securities. Stock exchanges facilitate for the issue and redemption of securities and other financial instruments including the payment of income and dividends. The record keeping is central but trade is linked to such physical place because modern markets are computerized. The trade on an exchange is only by members and stock broker do have a seat on the exchange. List of Stock Exchanges in India Bombay Stock Exchange National Stock Exchange OTC Exchange of India Regional Stock Exchanges 1. Ahmedabad 2. Bangalore 3. Bhubaneswar 4. Calcutta 5. Cochin 6. Coimbatore 7. Delhi 8. Guwahati 9. Hyderabad 10. Jaipur 11. Ludhiana 12. Madhya Pradesh 13. Madras 14. Magadh 15. Mangalore 16. Meerut 17. Pune 18. Saurashtra Kutch 19. Uttar Pradesh 20. Vadodara

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BOMBAY STOCK EXCHANGE

A very common name for all traders in the stock market, BSE, stands for Bombay Stock Exchange. It is the oldest market not only in the country, but also in Asia. In the early days, BSE was known as "The Native Share & Stock Brokers Association." It was established in the year 1875 and became the first stock exchange in the country to be recognized by the government. In 1956, BSE obtained a permanent recognition from the Government of India under the Securities Contracts (Regulation) Act, 1956.

In the past and even now, it plays a pivotal role in the development of the country's capital market. This is recognized worldwide and its index, SENSEX, is also tracked worldwide. Earlier it was an Association of Persons (AOP), but now it is a demutualised and corporatised entity incorporated under the provisions of the Companies Act, 1956, pursuant to the BSE (Corporatisation and Demutualization) Scheme, 2005 notified by the Securities and Exchange Board of India (SEBI).

BSE Vision The vision of the Bombay Stock Exchange is to "Emerge as the premier Indian stock exchange by establishing global benchmarks."

BSE Management Bombay Stock Exchange is managed professionally by Board of Directors. It comprises of eminent professionals, representatives of Trading Members and the Managing Director. The Board is an inclusive one and is shaped to benefit from the market intermediaries participation.

The Board exercises complete control and formulates larger policy issues. The dayto-day operations of BSE are managed by the Managing Director and its school of professional as a management team.

BSE Network The Exchange reaches physically to 417 cities and towns in the country. The framework of it has been designed to safeguard market integrity and to operate with transparency. It provides an efficient market for the trading in equity, debt instruments and derivatives. Its online trading system, popularly known as BOLT, is a proprietary system and it is BS 7799-2-2002 certified. The BOLT network was expanded, nationwide, in 1997. The surveillance and clearing & settlement functions of the Exchange are ISO 9001:2000 certified.

BSE Facts BSE as a brand is synonymous with capital markets in India. The BSE SENSEX is the benchmark equity index that reflects the robustness of the economy and finance. It was the First in India to introduce Equity Derivatives First in India to launch a Free Float Index First in India to launch US$ version of BSE Sensex First in India to launch Exchange Enabled Internet Trading Platform First in India to obtain ISO certification for Surveillance, Clearing & Settlement 'BSE On-Line Trading System (BOLT) has been awarded the globally recognized the Information Security Management System standard BS7799-2:2002. First to have an exclusive facility for financial training Moved from Open Outcry to Electronic Trading within just 50 days

BSE with its long history of capital market development is fully geared to continue its contributions to further the growth of the securities markets of the country, thus helping India increases its sphere of influence in international financial markets.

NATIONAL

STOCK

EXCHANGE

OF

INDIA

LIMITED

The National Stock Exchange of India Limited has genesis in the report of the High Powered Study Group on Establishment of New Stock Exchanges, which recommended promotion of a National Stock Exchange by financial institutions (FIs) to provide access to investors from all across the country on an equal footing. Based on the recommendations, NSE was promoted by leading Financial Institutions at the behest of the Government of India and was incorporated in November 1992 as a tax-paying company unlike other stock Exchange in the country. On its recognition as a stock exchange under the Securities Contracts (Regulation) Act, 1956 in April 1993, NSE commenced operations in the Wholesale Debt Market (WDM) segment in June 1994. The Capital Market (Equities) segment commenced operations in November 1994 and operations in Derivatives segment commenced in June 2000. NSE GROUP National Securities Clearing Corporation Ltd. (NSCCL) It is a wholly owned subsidiary, which was incorporated in August 1995 and commenced clearing operations in April 1996. It was formed to build confidence in clearing and settlement of securities, to promote and maintain the short and consistent

settlement cycles, to provide a counter-party risk guarantee and to operate a tight risk containment system.

NSE.IT Ltd. It is also a wholly owned subsidiary of NSE and is its IT arm. This arm of the NSE is uniquely positioned to provide products, services and solutions for the securities industry. NSE.IT primarily focuses on in the area of trading, broker front-end and back-office, clearing and settlement, web-based, insurance, etc. Along with this, it also provides consultancy and implementation services in Data Warehousing, Business Continuity Plans, Site Maintenance and Backups, Stratus Mainframe Facility Management, Real Time Market Analysis & Financial News.

India Index Services & Products Ltd. (IISL) It is a joint venture between NSE and CRISIL Ltd. to provide a variety of indices and index related services and products for the Indian Capital markets. It was set up in May 1998. IISL has a consulting and licensing agreement with the Standard and Poor's (S&P), world's leading provider of investible equity indices, for co-branding equity indices.

National Securities Depository Ltd. (NSDL) NSE joined hands with IDBI and UTI to promote dematerialization of securities. This step was taken to solve problems related to trading in physical securities. It commenced operations in November 1996.

NSE Facts It uses satellite communication technology to energize participation from around 400 cities in India. NSE can handle up to 1 million trades per day. It is one of the largest interactive VSAT based stock exchanges in the world. The NSE- network is the largest private wide area network in India and the first extended C- Band VSAT network in the world. Presently more than 9000 users are trading on the real time-online NSE application. Today, NSE is one of the largest exchanges in the world and still forging ahead. At NSE, we are constantly working towards creating a more transparent, vibrant and innovative capital market. OVER THE COUNTER EXCHANGE OF INDIA OTCEI was incorporated in 1990 as a section 25 company under the companies Act 1956 and is recognized as a stock exchange under section 4 of the securities Contracts Regulation Act, 1956. The exchange was set up to aid enterprising promotes in raising finance for new projects in a cost effective manner and to provide investors with a transparent and efficient mode of trading Modeled along the lines of the NASDAQ market of USA, OTCEI introduced many novel concepts to the Indian capital markets such as screen-based nationwide trading, sponsorship of companies,

market making and scrip less trading. As a measure of success of these efforts, the Exchange today has 115 listings and has assisted in providing capital for enterprises that have gone on to build successful brands for themselves like VIP Advanta, Sonora Tiles & Brilliant mineral water, etc.

Need for OTCEI: Studies by NASSCOM, software technology parks of India, the venture capitals funds and the governments IT tasks Force, as well as rising interest in IT, Pharmaceutical, Biotechnology and Media shares have repeatedly emphasized the need for a national stock market for innovation and high growth companies.

Innovative companies are critical to developing economics like India, which is undergoing a major technological revolution. With their abilities to generate employment opportunities and contribute to the economy, it is essential that these companies not only expand existing operations but also set up new units. The key issue for these companies is raising timely, cost effective and long term capital to sustain their operations and enhance growth. Such companies, particularly those that have been in operation for a short time, are unable to raise funds through the traditional financing methods, because they have not yet been evaluated by the financial world.

CHAPTER IV - COMPANY PROFILE

EDELWEISS BROKING LIMITED Edelweiss is one of the leading financial services company in India. Its current businesses include investment banking, securities and retail broking and investment management. The core inspiring thought of ideas creating wealth and values protecting it is translated into an approach that is led by entrepreneurship and creativity and protected by intellectual rigor, research and analysis. Here at Edelweiss you can build a personal relationship with our investment professionals. We see investing from your perspective, and offer recommendations based on your needs and preferences. To all the investors - From access to top research to investment guidance and portfolio planning, we offer it all Edelweiss, a rare flower found in Switzerland. You will discover in our identity: A graphic flower that represents ideas. Around it, the protective arms of the letter e: We believe ideas create wealth, but values protect it. It is the practice of this core thought that has led to Edelweiss becoming one of the leading financial services company in India. Its current businesses include investment banking, securities broking, and investment management. We provide a wide range of services to corporations, institutional investors and high net-worth individuals. The core inspiring thought of ideas creating wealth and values are protecting it is translated into an approach that is led by entrepreneurship and creativity and protected by intellectual rigor, research and analysis. Approach Client Focus Edelweiss is driven by the emphasis we place on building long-term relationships with our clients. We work closely with our clients to equip them with the ability to address large, fast-growing market opportunities. Our emphasis on long-term

relationships also means that we have a significant ongoing involvement with almost all of the clients that we work with. Execution Orientation We focus obsessively on delivering high quality execution through our experienced team of professionals. Each team is led by senior personnel and is highly research and ideas driven. We place strong emphasis on confidentiality and integrity in a sensitive business environment. Culture Edelweiss fosters a culture that is entrepreneurial and results-driven and that emphasizes teamwork and intellectual rigor. Our team is encouraged to display higher levels of initiative, drive, and hunger for learning and taking on additional responsibility Professional Integrity We place a strong emphasis on confidentiality, honesty and integrity in our business dealings. We expect our people to maintain high ethical standards, both in their professional and personal lives. We strive to be fair in all our dealings. We respect our competitors. Research Driven All our businesses are built on a research and analytics foundation. Our understanding of underlying market trends and strong analytical expertise has resulted in a demonstrated ability to identify emerging trends and themes early. We seek to provide the highest quality research and investment opinions to our clients. Business Principles

Ideas create, values protect is how we define what Edelweiss believes in. But when we say values protect what do we mean? Heres a handy guide to the values and principles we will live by and live up to. We will be a Thinking Organization. We will constantly bring thought to everything we do. Our clients and our own success depends on our ability to use greater ideation and more imagination in our approach.

We will be Fair to our clients, our employees and all stake holders. We want our clients and our employees to be richer for their relationship with us.

We will take care of our People seriously. Our policies in spirit and in letter will ensure transparency and equal opportunity for all. We will go beyond the normal goals of attracting, recruiting, retaining and rewarding fine talent: We will ensure that every individual in Edelweiss has an opportunity to achieve their fullest potential.

We will operate as a Partnership, internally and externally. Though individuals are very often brilliant, we believe teamwork and collaboration will always ensure a better and more balanced organization. We will also treat our clients as partners and show them the same respect and consideration that we would toward our internal team members.

We will focus on the Long Term. Though the world will change a lot in the coming years and our assumptions for the future may not hold up, we will reflect on the long-term implications of our actions. Even when making shortterm decisions we will be aware of the long-term implications.

We will focus on Growth for our clients, employees and shareholders.

Our Reputation and image is more important than any financial reward. Reputation is hard to build and even harder to rebuild. Reputation will be impacted by our ability to think for our clients, maintain confidentiality and by our adherence to our value system.

We will Obey and Comply with the rules of the land. We will maintain the highest standard of integrity and honesty. When we are unclear we will seek clarifications.

We will respect Risk. Our business is going to be a constant challenge of balancing risk and reward. Our ability to constantly keep one eye on risk will guide us through this fine balance.

Our Financial Capital is a critical resource for growth. We will endeavour to grow, protect, and use our financial capital wisely.

CHAPTER V DATA ANALYSIS & INTERPRETATIONS

I find my repetitive and boring Particulars Strongly Agree Agree Neither Agree nor Disagree Disagree Strongly disagree Total Graphical Representation No. of respondents 25 10 5 5 5 50 in(%) 50 20 10 10 10 100

Inference: Above graph shows that 50% of employees are strongly agree about the point , 20% of employees are agree on the point, 10% are neither agree nor disagree,10% are disagree and rest 10% of employees are strongly disagree. So, it can be concluded that majority of employees find their job boring and redundant

2.I feel that my job has little impact on the success of the company. Particulars Strongly Agree Agree Neither Agree nor Disagree Disagree Strongly disagree Total Graphical Representation No. of respondents in(%) 5 10 8 16 20 10 7 50 40 20 14 100

Inference: Above graph shows that 10% of employees are strongly agree about the point , 16% of employees are agree on the point, 40% are neither agree nor disagree,20% are disagree and rest 14% of employees are strongly disagree. So, it can be concluded that majority of employees are not whether they make any difference in the success of the company

3. I have an increasingly bad attitude toward my job, boss, and employer. Particulars Strongly Agree Agree Neither Agree nor Disagree Disagree Strongly disagree Total Graphical Representation No. of respondents in(%) 20 40 12 24 8 6 4 50 16 12 8 100

Inference: Above graph shows that 40% of employees are strongly agree about the point , 24% of employees are agree on the point, 40% are neither agree nor disagree,16% are disagree and rest 12% of employees are strongly disagree. So, it can

be concluded that majority of employees has got increasingly bad attitude towards their Job, Employer

4. I am no longer given the resources I need to successfully do my job. Particulars Strongly Agree Agree Neither Agree nor Disagree Disagree Strongly disagree Total Graphical Representation No. of respondents in(%) 5 10 8 16 12 20 5 50 24 40 10 100

Inference: Above graph shows that 10% of employees are strongly agree about the point , 16% of employees are agree on the point, 24% are neither agree nor

disagree,40% are disagree and rest 10% of employees are strongly disagree. So, it can be concluded that majority of employees feels that they are given adequate resources to do the job efficiently

6. I am not being used to my full capabilities. Particulars Strongly Agree Agree Neither Agree nor Disagree Disagree Strongly disagree Total Graphical Representation No. of respondents in(%) 30 60 10 20 3 4 3 50 6 8 6 100

Inference: Above graph shows that 10% of employees are strongly agree about the point , 16% of employees are agree on the point, 24% are neither agree nor disagree,40% are disagree and rest 10% of employees are strongly disagree. So, it can be concluded that majority of employees feels that they are not being utilized to their capacities 7. I feel as though my boss and employer have let me down. Particulars Strongly Agree Agree Neither Agree nor Disagree Disagree Strongly disagree Total Graphical Representation No. of respondents in(%) 23 46 8 16 5 9 5 50 10 18 10 100

Inference: Above graph shows that 46% of employees are strongly agree about the point , 16% of employees are agree on the point, 10% are neither agree nor disagree,18% are disagree and rest 10% of employees are strongly disagree. So, it can be concluded that majority of employees feels that their employer have let them down all the time

8. I often feel overworked and overwhelmed.

Particulars Strongly Agree Agree Neither Agree nor Disagree Disagree Strongly disagree Total Graphical Representation

No. of respondents

in(%) 27 54 10 20 4 5 4 50 8 10 8 100

Inference: Above graph shows that 54% of employees are strongly agree about the point , 20% of employees are agree on the point, 8% are neither agree nor disagree,10% are disagree and rest 8% of employees are strongly disagree. So, it can be concluded that majority of employees feels that they are often overwhelmed and over worked 9. I am frequently stressed out at work. Particulars Strongly Agree Agree Neither Agree nor Disagree Disagree Strongly disagree Total Graphical Representation No. of respondents in(%) 22 44 10 20 6 8 4 50 12 16 8 100

Inference: Above graph shows that 44% of employees are strongly agree about the point , 20% of employees are agree on the point, 12% are neither agree nor disagree,16% are disagree and rest 8% of employees are strongly disagree. So, it can be concluded that majority of employees takes a lot of stress at work 10. I have lost sight of my career goals and aspirations. Particulars Strongly Agree Agree Neither Agree nor Disagree Disagree Strongly disagree Total Graphical Representation No. of respondents 24 10 8 5 3 50 in(%) 48 20 16 10 6 100

Inference: Above graph shows that 48% of employees are strongly agree about the point , 20% of employees are agree on the point, 16% are neither agree nor disagree,10% are disagree and rest 6% of employees are strongly disagree. So, it can be concluded that majority of employees feels that they have lost their sight of career goals and aspirations

CHAPTER VI

FINDINGS, SUGGESTIONS & CONCLUSION

FINDINGS

Employees find their jobs repetitive and boring Employees are not getting value to their work. Most of employees think that they are not on their actual path. Most of the employees think that the organization hasnt fulfilled their promises, what they do in beginning especially regarding Promotion. Most of the Employees feel lot of stress at work place Most of the employees feel that they are not being utilized up to their capacities Most of the employees are not happy with their employers in terms of supervision There is negatively comparison between peers especially regarding targets.

SUGGESTIONS AND RECOMMENDATIONS

To increase the job satisfaction level of the employees the company should concentrate mainly on the incentive and reward structure rather than the Motivational session Company should provide more refreshments to the employees Personality Development sessions has to be undertaken by the company Ideal employees should concentrate on their job. Educational qualification can be the factor of not an effective job. Company should give promotion to those employees who deserve it. Career oriented assistance has to be given to the employees

Conclusion Findings and suggestion are based on the survey conducted and these points are to be looked into and steps are to be taken in this regard for higher growth. From the analysis I conclude that the job provides the opportunity to the employees to exercise his/her skills at work place. Number of the employees accepted that at times there is a considerable flexibility in co-coordinating with work and they are satisfied with the existing inter personal communication. In Edelweiss Broking Limited they follow the systematic planning and review process to evaluate the performance of employee. From analysis it was also observed that was there is a scope for the improvement of working conditions in Edelweiss Broking Limited. Salary package would hike so that it can be in par with market rate. Finally I would like to conclude that the employees of Edelweiss Broking Limited,are satisfied with their work and organization

BIBLIOGRAPHY

BOOKS 1. Kothari C.R., Research Methodology, New Delhi; New Age International Publication, second edition. 2. Ashwathapa K., Human Resource Management (third edition), Tata Mc Graw Hill Publication Company Ltd. Page no. 81-136,171,179,267,284. 3. Chhabra. , T. N. Human Resource Management ,Dhanpat Rai $Co(P)Ltd. India,ninth edition. 4. Monnapa Arun., Human Resource Management ,Tata Mc Graw Hill Publication Company Ltd. WEBSITES:a. www.kotaklifeinsurance.com/home/products b. www.kotak.com/coms2/product-compint-0000950756-page.html c. www.irda.org/insurance/benefits-kotak,-ind

d. www.ask.com-/meaning-insurance/history//e. www.ibef.org/industry/insurance-trend/in

ANNEXURE QUESTIONNAIRE NAME: . DESIGNATION: . COMPANY: . 1. I find much of my job repetitive and boring. Strongly Agree Agree Neither Agree nor Disagree Disagree Strongly Disagree

1. I feel that my job has little impact on the success of the company. Strongly Agree Agree Neither Agree nor Disagree Disagree Strongly Disagree

2. I have an increasingly bad attitude toward my job, boss, and employer. Strongly Agree Agree Neither Agree nor Disagree Disagree Strongly Disagree

3. I am no longer given the resources I need to successfully do my job. Strongly Agree Agree Neither Agree nor Disagree Disagree Strongly Disagree

4. I am not being used to my full capabilities. Strongly Agree Agree Neither Agree nor Disagree Disagree Strongly Disagree

5. I feel as though my boss and employer have let me down. Strongly Agree Agree Neither Agree nor Disagree Disagree Strongly Disagree

6. I often feel overworked and overwhelmed. Strongly Agree Agree Neither Agree nor Disagree Disagree Strongly Disagree

7.

I am frequently stressed out at work. Strongly Agree Agree Neither Agree nor Disagree Disagree Strongly Disagree

8.

I have lost sight of my career goals and aspirations. Strongly Agree Agree Neither Agree nor Disagree Disagree Strongly Disagree