Summer Internship Project Report ON MOTIVATIONAL LEVEL IN RETAIL SECTOR AT FLFL (Central) BY SHEKHAR KUSHWAHA 2014MBAI009 Under the supervision of Dr. UPASANA SINGH Faculty Guide (Submitted in the partial fulfilment of the requirement for the BBA degree) Institute of Management JK Lakshmipat University
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Summer Internship Project Report
ONMOTIVATIONAL LEVEL IN RETAIL SECTOR
AT FLFL (Central)
BY
SHEKHAR KUSHWAHA2014MBAI009
Under the supervision of
Dr. UPASANA SINGH
Faculty Guide
(Submitted in the partial fulfilment of the requirement for the BBA degree)
Institute of Management
JK Lakshmipat University2016
Declaration
I hereby declare that the project report entitled “MOTIVATIONAL LEVEL IN RETAIL SECTOR at FLFL (Central)” is an original work developed and submitted by me under the guidance of Dr. Upasana Singh.
Shekhar Kushwaha
2014mbai009
ACKNOWLEDGEMENT:-
The satiation and euphoria that accompany the successful completion of the project would be incomplete without the mention of the people who made it possible.
I would like to take the opportunity to thank and express my deep sense of gratitude to my faculty guide Dr. Upasana Singh for his valuable time guidance and also to my corporate mentor Nidhi Sharma(regional HR).I am greatly indebted to him for providing his valuable guidance at all stages of the study and also Mr. Prashant Dixit for his advice constructive suggestions, positive and supportive attitude and continuous encouragement, without which it would not have been possible to complete the project.
I owe my wholehearted thanks and appreciation to the entire staff of future lifestyle fashion Ltd at Central. For their cooperation and assistance during the course of my project
I hope that I can build upon the experience and knowledge that I have gained and make a valuable contribution towards the industry in coming future.
List of Contents
Project Contents Page No.
1. Executive Summary
2. Industry Overview
3. Objective
4. Data Collection
5. Analysis
6. Observations
7. Suggestions
EXECUTIVE SUMMARY
I have done my major project on Employee Motivation factor in FLFL and
for doing research work I chose Future lifestyle fashion ltd. In central
format Jaipur.
The report is all about the experience & practical knowledge during the 6 weeks of Summer Internship under HR (Human Resources) of FLFL at Central format.
.
The study is done on the employee motivational factor in Central
Format, refers to the mechanism through which employees get motivated in
different ways by which employee get best out of them that helps the
organization to earn maximum profit.
For on motivational factor the information has been
collected from the employees through interview questionnaire. Sample size
of collecting date is 55 from which 44 are male and 9 are female. My
research works going to help the organization to know that what motivates
the employees to work in that organization and because of our research
this industry may focus on that part from which employees get less
motivated, and also help to get maximum productivity from employees from
which they are maximum motivated.
The main observation for motivating employees is that the FLFL
takes responsibility to motivate every level of employees to get best out of
them.
Retail sector
Retail is the process of selling consumer goods and /or services to consumer goods and or services to customer though multiple channels of distribution to can a profit. Demand is created through diverse target markets and promotional tactics, satisfying consumer wants and through a lean supply chain. In the2000s an increasing amount of retailing is done online using electronic payment and delivery via a counter or postal mail. Retailing includes subordinated services such as delivery.
The term “retail” is also applied where a services provider services the needs of a large number of individuals, such as for the public. Shop may be on residential streets, streets with few or no house, or in a shopping mall. Shopping streets may be for pedestrians only.
Retail comes from the old French word tailor, which means “to cut off clip pare, divide” in term of tailoring (365), it was first record as a noun with the meaning of a “sale in small quantities” in 1433 (from the middle French retail, “piece cut off, sherd, scrap, paring”). Like in French, the word retail in both Dutch and German also refers to sale of small quantities of items.
RETAIL IN INDIA
The Indian retail industry has emerged as one of the most dynamic and fast-paced industries due to the entry of several new players. It accounts for over 10 per cent of the country’s Gross Domestic Product (GDP) and around 8 per cent of the employment. India is the world’s fifth-largest global destination in the retail space.
Market Size
The Boston Consulting Group and Retailers Association of India published a report titled, ‘Retail 2020: Retrospect, Reinvent, Rewrite’, highlighting that India’s retail market is expected to nearly double to US$ 1 trillion by 2020 from US$ 600 billion in 2015, driven by income growth, urbanization and attitudinal shifts. The report adds that while the overall retail market is expected to grow at 12 per cent per annum, modern trade would expand twice as fast at 20 per cent per
annum and traditional trade at 10 per cent. Retail spending in the top seven Indian cities amounted to Rs 3.58 trillion (US$ 53.7 billion), with organized retail penetration at 19 per cent as of 2014. Online retail is expected to be at par with the physical stores in the next five years.
India’s direct selling industry increased 6.5 per cent in FY2014-15 to Rs 7,958 crore (US$ 1.19 billion) and is expected to reach a size of Rs 23,654 crore (US$ 3.55 billion) by FY2019-20, as per a joint report by India Direct Selling Association (IDSA) and PHD.
Retail industry can be classified into two broad categories – organized retail and unorganized retail.
According to the Global Retail Development Index 2012, India ranks fifth among the top 30 emerging markets for retail. The recent announcement by the Indian government with Foreign Direct Investment (FDI) in retail, especially allowing 100% FDI in single brands and multi-brand FDI has created positive sentiments in the retail sector.
Emerging Areas
Apparel and fashion Fashion & Lifestyle Food & Beverage retail Pharmaceutical Retail E-commerce or E-tailing
Factors driving growth are:
Emergence of nuclear families Falling real estate prices Growing trend of double-income households Increase in disposable income and customer aspiration Increase in expenditure for luxury items
Large working population Low share of organized retailing Growing liberalization of the FDI policy in the past decade
Future Group
Future Group understands the soul of Indian consumers. As one of India’s retail pioneers with multiple retail formats, we connect a diverse and passionate community of Indian buyers, sellers and businesses. The collective impact on business is staggering: Around 300 million customers walk into our stores each year and choose products and services supplied by over 30,000 small, medium and large entrepreneurs and manufacturers from across India. And this number is set to grow.
Future Group employs 36,000 people directly from every section of our society. We source our supplies from enterprises across the country, creating fresh employment, impacting livelihoods, empowering local communities and fostering mutual growth.
We believe in the ‘Indian dream’ and have aligned our business practices to our larger objective of being a premier catalyst in India’s consumption-led growth story. Working towards this end, we are ushering positive socio-economic changes in communities to help the Indian dream fly high and the ‘Sone Ki Chidiya’ soar once again. This approach remains embedded in our ethos even as we rapidly expand our footprints deeper into India.
Future Group's operating companies sorted by targeted markets
Future Group retail services sorted by operating companies
Food Bazaar FBB (Fashion @ Big Bazaar) Hometown E Zone Food hall FutureBazaar.com (e-retailing) Easy day Big Bazaar
Future Lifestyle Fashion Ltd
Central Brand Factory Planet Sports
Future lifestyle fashion ltd.-central
Central Jaipur established on 3rd September 2010 in 210500 sq feet area. And carpet area is 170000 sq. feet .with employees 270 people, future group‘s central format has gone in for a makeover form a seamless mall to a departmental store, with special focus on private labels.
According to jitendernath patri national head marketing, central, future group. “A mall is a different animal with a different experience
and we are moving away from this concept, initially consumer were confused about central stood for as we had taken the route of seamless mall but today we would rather perceived as a departmental store offering affordable mid-level brands in the lifestyle space.
Central is retail Departmental retail chain operated by Future Retail Limited, the operating company of Future Group which also runs another popular hypermarket chain, Big Bazaar.
Central has outlets in Ahmedabad, Bangalore, Bhubaneswar, Cochin, Hyderabad, Pune, Nashik, Mangalore, Mumbai, Navi Mumbai, New Delhi, Vadodara, Gurgaon, Indore, Nagpur, Patna, Jaipur, Surat, Visakhapatnam, and Bhubaneswar. It has a clothes and food chain with 3 Amigos, Slam bay, Baskin Robbins among many others and has three main restaurants like Bombay Blues and Copper Chimney. Bangalore Central is a shopping mall, situated in Bangalore, India. Spread over 120,000 sq. ft. (11,000 m2)., it is situated on Residency road, off M G Road. Another Bangalore Central mall was started in 9th Block, Jahangir. Another Bangalore Central mall (Soul Space Spirit) was started at Bellandur Junction which was opened on 24 March 2011, Bellandur. Mangalore Central, situated in Forum Fizz Mall is spread over 75,000 sq. ft. (7,000 m2).
Central will be pitted against retailer such as shoppers stop and lifestyle offer the latest brand and style with more affordable price points to suit the consumer.
Scope and objective
The main objectives of the study are as follows:
To understand the factor of engagement at FLFL
To understand the employee perception of work environment
DATA COLLECTION
The study: - the study was done on the motivational process followed at future lifestyle fashion ltd-central
Tools for Data Collection: - for on motivational process the information has been collected from the industry guide and from employees through interview questionnaire and rest other information has been collected from the industry guide itself.
Methodology: - The analysis was based on information obtained through observation, interview and interaction with the industry guide and employees. On the basis of the collected information, employee engagement and employee benefits are analyzed and an insight is developed for understanding its effectiveness. We have performed SWOT analysis of engagement activity to review, identify the challenges and suggest some measure for its improvement. On the basis of the response received from employees, percentage analysis has been done to identify the factors personal as well as professional of leaving the organization. The opinion of employees who are in the organization regarding work environment includes behavior of supervisor, interdepartmental and interpersonal relationship analyzed from percentage analysis. For the research, the entire strategy was studied through personal interaction with the former employees and also the interaction with industry guide.
I have used both the primary and secondary method of date collection questioner to be filled form 100 employees of future group on satisfied random sampling basis and .
Data analysisTable no- 5.4 Table shows the work of span of the respondent.
68%
32%
work span
1 – 5 years6 – 10 years
Above table shows that 68% percent (n=36) respondent belongs to working span of 1 to 5, group
of percent 32% (n=17) respondent belongs more than 5 years.
Table no- 5.5 Table shows present salary and increment of the respondent
Above table shows that 49% percent (n=26) respondent belief that their leader motivate them and
group of percent 2% (n=01) are belief that their leader do not motivate.
OBSERVATION
1. Personal information .
Most of respondent 70 % (n=37) were belongs to age-group of 19-30 Years,
Most of respondent 36 % (n=19) had their educational qualification up to
H.S.C,
Majority of the respondent 68 % (n=36) works in span of (1-5) years.
2. Employee motivation information
Majority of respondent 75% (n=39) strongly agree whit present salary and
increment.
Majority of respondent 47% (n=25) agree whit financially related reward
system
Majority of respondent 55 % (n=29) were strongly agree with working
condition.
Majority of respondent 53 % (n=28) were strongly agree with welfare
facilities and. 45 % (n=24) were agree with welfare facilities
Majority of respondent 26% (n=14) were relation with superior peers and
subordinates are good.
Majority of respondent 49% (n=26) were supervisors take interest in our
problem.
Majority of respondent 40 % (n=21) were enjoy setting and achieving
challenging goal.
Majority of respondent 40% (n=26) were recognized and praised for my
good performance.
Most of respondent 47 % (n=25) clear and effective system of performance
appraisal & career development.
Majority of respondent 34% (n=18) agree whit right opportunities in this
organization for my personal growth and promotion.
Majority of respondent 89% (n=47) were organization helps me in all
possible
.
Majority of respondent 57% (n=30)strongly agree and 28% (n=15) agree for
management of our calls for active participation of the employee in the day
to day functions of the organization
Most of respondent 51 % (n=27) strongly agree and 47% (n=25) agree were
organization outside company is good.
Majority of respondent 56 % (n=30)I am getting maximum pleasure from
my work
Majority of respondent 51% (n=27) were added authority and responsibility
to present job will be more interesting and rewarding.
Most of respondent 49% (n=26) delegation of authority to encourage juniors
is quits common in my organization.
Most of respondent 34% (n=18) were my job content and responsibilities are
appropriate for me.
Majority of respondent 51% (n=27) were appropriate work is given to me
according to my skill and potential
Most of respondent 49% (n=26) were strongly agree and 2% (n=1) for
disagree leadership also influences the level of motivation.
SUGGESTION
In the future lifestyle fashion ltd. At central format employees feel that
the salary structure is very good but give amount is not satisfactory.
47%of the employees are satisfied by their salary and increment,
financial reward. as it is very low rate
The higher number of employees (75%) has given strongly agree. It
means in future lifestyle fashion ltd. At central format the
belongingness of employees are very good. They have a good
relationship with everyone.
47% of employees are satisfied with recognition programs and
performance appraisal system. But 18%of the employee is still feeling
that the performance appraisal system and recognition programmer
are not proper. Hence HR department should know why the
employees are not satisfied whit the performance appraisal system
and which type of recognition program me they want in future.
The higher numbers of employees have given positive response but
still there is scope for improvement.
The HR department should make the job more challenging. Exciting
and meaningful by the factor like goal setting. Creative work. Job
rotation. Skill diversity.
CONCLUSION
Motivation is an aspect which covers almost all the employee from the managing directors to his peon. The motivation is a live issue for all.
Motivation is psychological concept. Motivation is not a cause but rather the effect or result of many going awry. Motivation drifters from person to person, industry to industry, level of education age, nature of work etc. Motivation may be range from very high to very low.
By this study it is clear that various faction which influences motivation and productivity of the employees each as Social Security measures, welfare facilities, salary status, Bonus, heath condition, shift system and recognition of work are getting much importance.
Several approaches to motivation are available. Early theories are too simplistic in their approach towards motivation. The content theories. Maslow’s need hierarchy that are very popular
To conclude employee motivation plays very important role in every organization. Good employee motivation helps to success of the organization. Unless an employee has poor motivation if always a possibility of employee disharmony and also affect some thrumming of the organization.
From the financial and nonfinancial reward system make motivation in complete picture. Form this we learn that how we applied the concept of motivation for the progressive result of company.