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Final Project Report

Study of Job SatisfactionRegarding Stelco Ltd.

Rampura Phul Distt.Bathinda

Submitted to Punjab Technical University in partial fulfillment of the

requirements for the degree of

BACHELOR OF BUSINESS ADMINISTRATION

Project Guide: Submitted By:

Mr.Ramanjit Singh Sumeet Bansal

Roll no.608240354

BBA 5th SEM

GIAN JYOTI INSTITUTE OF MANAGEMENT AND TECHNOLOGY

MOHALI

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ACKNOWLEDGEMENT

It is my proud privilege and pleasure to express deep sense of gratitude to Mr. Ramanjit

Singh (project guide), for placing complete faith and confidence in my ability to carry

out this study and for providing me their inspiration, encouragement, help, valuable

guidance, constructive criticism and constant interest. They took personal interest in

spite of their numerous commitment and busy schedule to help me in completing this

project. My project would not have seen the light of the day without their masterly

guidance and overwhelming help.

I extent my heartful gratitude to my family and friends help, cooperation, selfless love

and constant encouragement of successful accomplishment of my project.

Sumeet Bansal

BBA 5th Semester

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PREFACE

The main purpose of research is to supplement the theoretical knowledge with practical

knowledge. This report is an endeavour to assimilate and put towards all the knowledge

and experience that I have got during research conducted.

I would like to record all my gratitude to all those who helped me in

accomplished of my project.

The research is going to play a very important role in developing self

confidence for my future. The knowledge gained from the research is a lifetime

experience that I will treasure forever. I pave the way to know about the detailed

overview of research.

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CERTIFICATE OF COMPLETION

This is certified that the final project entitled STUDY OF JOB SATISFACTION IN

STELCO LTD submitted in partial fulfillment of the requirement for the degree of BBAaffiliated to PTU Jalandhar is the research work carried out by Sumeet Bansal, Roll no.

608240354 under my guidance and supervision.

Mr. Ramanjit Singh

(Project Guide)

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DECLARATION

I hereby declare that the work, which is being presented in the project report STUDY

ON JOB SATISFACTION IN STELCO LIMITED for partial fulfillment of the degree

of BBA submitted in Gian Jyoti Institute of Management & Technology phase -2,

Mohali, affiliated to Punjab Technical University, Jalandhar is record of my own work

and is carried under the guidance of Mr. Ramanjit Singh.

Sumeet Bansal

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TABLE OF CONTENTS

Contents

Page no.

Industry profile

Company Profile

Introduction of the topic

Review of literature

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Research Methodology

Population

Sample

Sampling unit

Scope of study

Data collection

Limitations of the study

Discussions and Interpretation

Conclusion

Suggestions

Bibliography

Appendix

INDUSTRY PROFILE

Introduction

The Indian Steel industry is almost 100 years old now. Till 1990, the Indian steel

industry operated under a regulated environment with insulated markets and large

scale capacities reserved for the public sector. Production and prices were determined

and regulated by the Government, while SAIL and Tata Steel were the main

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producers, the latter being the only private player. In 1990, the Indian steel Industry

had a production capacity of 23 MT. 1992 saw the onset of liberalization and the

Indian economy was opened to the world. Indian steel sector also witnessed the entry

of several domestic private players and large private investments flowed into the

sector to add fresh capacities.

The last decade saw the Indian steel industry integrating with the global economy and

evolving considerably to adopt world-class production technology to produce high

quality steel. The total investment in the Indian steel since 1990 is over Rs 19,000

crores mostly in plant equipments, which have been installed after 1990. The steel

industry also went through a turbulent phase between 1997 and 2001 when there was

a downturn in the global steel industry. The progress of the industry in terms of

capacity additions, production, consumption, exports and profitability plateaued off

during this phase. But the industry weathered the storm only to recover in 2002 and is

beginning to get back on its feet given the strong domestic economic growth and

revival of demand in global markets.

With a current capacity of 35 MT the Indian Steel Industry is today the 8 th largest

producer of steel in the world. Today, India produces international standard steel of

almost all grades/varieties and has been a net exporter for the past few years,

underlining the growing acceptability of its products in the global market.

Steel is a highly capital intensive industry and cyclical in nature. Its growth is

intertwined with the growth of the economy at large, and in particular the steel

consuming industries such as manufacturing, housing and infrastructure. Steel, given

its backward and forward linkages, has a large multiplier effect.

Economists quantify the economic impact of any sector through measures such as the

output multiplier effect, forward and backward effects etc. Based on the Indian input-

output model, the Iron, Steel and Ferro Alloys sector (sector code 72 of CSO Table)

reveals high output multiplier of 2.64 and ranks 4 out of 115 sectors into which the

economy is divided. The output multiplier effect is defined as the total increase in

output generation (in case of sector 72, total increase of 2.64 units including unitary

increase of the sectors own output) for one unit increases of final demand in the

particular sector.

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The Forward Linkage refers to the inter relationship between the particular sector and

all other sectors which demand the output of the former as their inputs. In the CSO

table of 60 sectors (where all iron and steel sub sectors have been merged to one

sector), the Forward Linkage of the Iron and Steel sector at 4.79 is quite significant

(ranks 4 out of 60 sectors into which the economy is divided). The significant output

multiplier effect and the forward linkage effects are the compelling reasons propelling

various economies to set up domestic plants to satisfy the local demand. Economists

have estimated that for every additional one lakh rupees output (2002-03 prices) in the

Iron, Steel and Ferro alloys sector, an additional 1.3 man years of employment are

created.

With capital investments of over Rs 100, 000 crores, the Indian steel industry

currently provides direct/indirect employment to over 2 million people. As India

moves ahead in the new millennium, the steel industry will play a critical role in

transforming India into an economic superpower.

India continually posts phenomenal growth records in steel production. In 1992, India

produced 14.33 million tones of finished carbon steels and 1.59 million tones of pig

iron. Furthermore, the steel production capacity of the country has increased rapidly

since 1991 in 2008, India produced nearly 46.575 million tones of finished steels

and 4.393 million tones of pig iron.

Both primary and secondary producers contributed their share to this phenomenal

development, while these increases have pushed up the demand for finished steel at a

very stable rate.

In 1992, the total consumption of finished steel was 14.84 million tones. In 2008, the

total amount of domestic steel consumption was 43.925 million tones. With the

increased demand in the national market, a huge part of the international market is

also served by this industry. Today, India is in seventh position among all the crude

steel producing countries.

The following are the premier steel plants operating in India:

Salem Steel Plant at Tamil Nadu

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Bhilai Steel Plant at Chattisgarh

Durgapur Steel Plant at West Bengal

Alloy Steel Plants at West Bengal

Visvesvaraya Iron and Steel Plant in Karnataka

Rourkela Steel Plant at Orissa

Bokaro Steel Plant at Jharkhand

Historically

Before the introduction of the Bessemer process and other modern production

techniques, steel was expensive and was only used where no cheaper alternative

existed, particularly for the cutting edge of knives, razors, swords, and other items

where a hard, sharp edge was needed. It was also used for springs, including those

used in clocks and watches.
http://en.wikipedia.org/wiki/Spring_(device)http://en.wikipedia.org/wiki/Spring_(device)

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Modern production methods

White-hot steel pouring out of an electric arc furnace.

Blast furnaces have been used for two millennia to producepig iron, a crucial step in

the steel production process, from iron ore by combining fuel, charcoal, and air.

Modern methods use coke instead of charcoal, which has proven to be a great deal

more efficient and is credited with contributing to the British Industrial Revolution.[40]

Once the iron is refined, converters are used to create steel from the iron. During the

late 19th and early 20th century there were many widely used methods such as the

Bessemer process and the Siemens-Martin process. However, basic oxygen

steelmaking, in which pure oxygen is fed to the furnace to limit impurities, has

generally replaced these older systems. Electric arc furnaces are a common method of

reprocessing scrap metal to create new steel. They can also be used for converting pig

iron to steel, but they use a great deal of electricity (about 440 kWh per metric ton),

and are thus generally only economical when there is a plentiful supply of cheap

electricity.

AN OVERVIEW OF STEEL SECTOR

Global Scenario
http://en.wikipedia.org/wiki/Blast_furnacehttp://en.wikipedia.org/wiki/Pig_ironhttp://en.wikipedia.org/wiki/Coke_(fuel)http://en.wikipedia.org/wiki/Industrial_Revolutionhttp://en.wikipedia.org/wiki/Steel#cite_note-Darby-39#cite_note-Darby-39http://en.wikipedia.org/wiki/Basic_oxygen_steelmakinghttp://en.wikipedia.org/wiki/Basic_oxygen_steelmakinghttp://en.wikipedia.org/wiki/Electric_arc_furnacehttp://en.wikipedia.org/wiki/Image:Allegheny_Ludlum_steel_furnace.jpghttp://en.wikipedia.org/wiki/Blast_furnacehttp://en.wikipedia.org/wiki/Pig_ironhttp://en.wikipedia.org/wiki/Coke_(fuel)http://en.wikipedia.org/wiki/Industrial_Revolutionhttp://en.wikipedia.org/wiki/Steel#cite_note-Darby-39#cite_note-Darby-39http://en.wikipedia.org/wiki/Basic_oxygen_steelmakinghttp://en.wikipedia.org/wiki/Basic_oxygen_steelmakinghttp://en.wikipedia.org/wiki/Electric_arc_furnace

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In 2007 the World Crude Steel output reached 1343.5 million metric tons and

showed a growth of 7.5% over the previous year. It is the fifth consecutive year that

world crude steel production grew by more than 7%. (Source: IISI)

China remained the worlds largest Crude Steel producer in 2007 also (489.00

million metric tons) followed by Japan (112.47 million metric tons) and USA (97.20

million metric tons). India occupied the 5 th position (53.10 million metric tons) for

the second consecutive year. (Source: IISI)

The International Iron & Steel Institute (IISI) in its forecast for 2008 has predicted

that 2008 will be another strong year for the steel industry with apparent steel use

rising from 1,202 million metric tonnes in 2007 to 1,282 million metric tonnes in

2008 i.e. by 6.7%. Further, the BRIC ( Brazil, Russia, India and China) countries

will continue to lead the growth with an expected increase in production by over

11% compared to 2007.

Domestic Scenario

The Indian steel industry have entered into a new development stage from 2005-06,

riding high on the resurgent economy and rising demand for steel. Rapid rise in

production has resulted in India becoming the 5 th largest producer of steel. It has been estimated by certain major investment houses, such as Credit Suisse that,

Indias steel consumption will continue to grow at nearly 16% rate annually, till

2012, fuelled by demand for construction projects worth US$ 1 trillion. The scope

for raising the total consumption of steel is huge, given that per capita steel

consumption is only 40 kg compared to 150 kg across the world and 250 kg in

China.

The National Steel Policy has envisaged steel production to reach 110 milliontonnes by 2019-20. However, based on the assessment of the current ongoing

projects, both in greenfield and brownfield, Ministry of Steel has projected

that the steel capacity in the county is likely to be 124.06 million tonnes by

2011-12. Further, based on the status of MOUs signed by the private producers

with the various State Governments, it is expected that Indias steel capacity

would be nearly 293 million tonne by 2020.

Production

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Steel industry was delicensed and decontrolled in 1991 & 1992 respectively.

Today, India is the 7th largest crude steel producer of steel in the world.

In 2007-08(Apri-June''07), production of Finished (Carbon) Steel was 12.088

million tonnes(Prov). Production of Pig Iron in 2007-08(April-June'07) was 1.165 Million Tonnes

(Prov).

The share of Main Producers (i.e SAIL, RINL and TSL) and secondary

producers in the total production of Finished (Carbon) steel was 33% and 67%

respectively during the period 2007-08 (April-June, 2007).

Last 4 year's production of pig iron and finished (carbon) steel is given below:

(in million tonnes)

Category 2003-

04

2004-

05

2005-

06

2006-07

(Provisional)

2007-08 (April-June'07)

(Prov.estimated)

Pig Iron 3.764 3.228 4.695 4.960 1.165

Finished

Carbon Steel

36.957 40.055 44.544 49.391 12.088

(Source: Joint Plant Committee)

Steel Prices

Price regulation of steel was abolished on 16.1.1992. Since then steel prices

are determined by the interplay of market forces.

There has been an up-trend in the domestic steel prices since 2006-07 and the

trend accentuated since January this year.

Rise in raw material prices, strong demand in the international and domestic

market and up-trend in the global steel prices have been some of the reasons

cited by the industry for increase in the steel prices in the domestic market.

The mismatch in demand and supply is considered to be the main reason on

the demand side for the rise in steel prices. Honourable Steel Minister has held

discussion with all major steel investors including Arcellor-Mittal, POSCO,

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Tata Steel, Essar, Ispat and also SAIL, RINL to explore the possibility of

expediting the ongoing as well as envisaged steel projects.

The Government also took various fiscal and other measures for stabilizing the

steel prices like exempting pig iron, non alloy steel and steel making inputs

like zinc, ferro-alloys and metcoke from customs duty; withdrawing DEPB

benefits on export of various categories of steel products and bringing back

railway freight on iron ore from classification 180 to 170 for domestic steel

producers.

In May 2008, the Government imposed 15% export duty on semi-finished

products, and hot rolled coils/sheet, 10% export duty on cold rolled

coils/sheets and pipes and tubes and 5% export duty on galvanized steel in

coil/sheet form in order to further curtail rising prices and increase supply of

steel in the domestic market.

Imports of Steel

Steel is freely importable as per the extant policy.

Last four years import of Finished (Carbon) Steel is given below:-

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Year Qty. (In Million Tonnes)

2003-2004 1.540

2004-2005 2.109

2005-2006 3.850

2006-07(Prov. estimated) 4.100

2007-08 (Apr-June, 207) (Prov.

estimated)

0.800

(Source: JPC)

Exports of Steel

Steel is freely exportable.

Advance Licensing Scheme allows duty free import of raw materials for

exports.

Duty Entitlement Pass Book Scheme (DEPB) introduced to facilitate exports.

Under this scheme exporters on the basis of notified entitlement rates, are

granted due credits which would entitle them to import duty free goods. The

DEPB benefit on export of various categories of steel items scheme has been

temporarily withdrawn from 27th March 2008, to increase availability in the

domestic market.

Exports of finished carbon steel and pig iron during the last four years and the

current year is

(Qty. in Million Tonnes)

Finished (Carbon)

Steel

2002-2003 4.506

2003-2004 4.835

2004-2005 4.381

2005-2006 4.478

2006-

2007(Prov.estimated)4.750

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2007-2008(April-June

07) (Prov.estimated)1.310

(Source : Joint Plant Committee)as :

Industry Structure

The Indian steel industry can be divided into two distinct producer groups:

Major producers : Also known as Integrated Steel Producers (ISPs), this group

includes large steel producers with high levels of backward integration and capacities

of over 1 MT. Steel Authority of India Limited (SAIL), Tata Steel, Rashtriya Ispat

Nigam Limited (RINL), Jindal Vijayanagar Steel Limited (JVSL), Essar Steel and

Ispat Industries form this group.

SAIL, TISCO and RINL produce steel using the blast furnace/basic oxygen furnace

(BF/BOF) route that uses iron ore, coal/coke as the basic input mix for producing

finished steel.

Other major producers such as Essar Steel, Ispat Industries and JVSL use routes other

than BF/BOF for producing steel. . While Essar Steel and Ispat Industries employ

Electric Arc Furnace (EAF) route that uses sponge iron, melting scrap or a mix of

both as input, JVSL uses COREX, a revolutionary technology for making steel using

basically iron-ore and coal.

Other producers: This group consists of smaller stand-alone steel plants that include

producers and processors of steel.

Processors/Rerollers: Units producing small quantities of steel (flat/long products)

from materials procured from the market or through their own backward integration

system.

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Stand alone units making pig iron and sponge iron.

Small producers using scrap-sponge iron-pig iron combination produce steel ingots

(for long products) using Electric Arc Furnace (EAF) or Induction Arc Furnace (IAF)

route.

The Major producers are strategic in nature and account for most of the mild steel

production in the country. The group produces most of the flat steel products in the

country including Hot Rolled, Cold Rolled and Galvanised steel. The majors also

produce a small proportion of Long products and other special steel being produced in

the country.

Other producers account for a majority of long products being produced in the

country and some of the value added flat steel products like cold rolled steel and

galvanized steel.

Types of Steel

All steel products are made from semi-finished steel that comes in the form of slabs,

billets and blooms. Though today there are over 3500 varieties of regular and special

steel available, steel products can be broadly classified into two basic types according

to their shape

Flat products

Derived from slabs this category includes plates and Hot Rolled Steel such as

Coils/Sheets. While plates are used for applications such as shipbuilding etc. HR Steel

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is the most widely used variety of steel and other downstream flat products such as

Cold Rolled Steel and Galvanised steel are made from it.

HR Steel has a variety of applications in the manufacturing sector. It is primarily used

for making pipes and has many direct industrial and manufacturing applications,

including the construction of tanks, railway cars, bicycle frames, ships, engineering

and military equipment and automobile and truck wheels, frames and body parts. Cold

Rolled Steel is used primarily for precision tubes, containers, bicycles, furniture and

for use by the automobile industry to produce car body panels. Galvanised Steel is

used for making roofs in the housing and construction sector.

(Vide Flow chart I and II)

Long products

These products derive their name from their shape. Made using billets and blooms

they include rods, bars, pipes, ropes and wires, which are used largely by the

housing/construction sector. There are also other products like rail tracks in the

category. (Vide Flow chart I and II)

Semi finished steel is also used to produce other varieties of specialized steel such as

Alloy Steel.

Flow chart I: Blast furnace route for producing steel

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Flow chart II: Electric Arc Furnace route of producing steel

Way forward for the Indian Steel Industry

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"We still have a number of persons in our country in SAIL, TISCO and other big and

small steel plants who have the capabilities. They have the will to excel and transform

the country, given a long term vision."

"We should be ready to compete in outside markets..If our steel industry gears up in

about 3 to 4 years, Indian steel can be both in Indian and foreign markets. Our vision

should be towards this."

- Indian 2020: A vision for the new millennium by APJ Adbul Kalam and YS Rajan

The Government envisions India becoming a developed nation by 2020 with a per

capita GDP of $1540. For a nation that is economically strong, free of the problems of

underdevelopment and plays a meaningful role in the world as befits a nation of over

one billion people, the groundwork would have to begin right now. The Indian Steel

Industry will be required and is willing to play a critical role in achieving this target.

With abundant iron ore resources and well-established base for steel production in the

country, steel is poised for growth in the coming decades. Production has increased

from 17 MT in 1990 to 36 MT in 2003 and 66 MT is targeted for 2011. While steel

will continue to have a stronghold in traditional sectors such as construction, housing,

ground transportation, special steels will be increasingly used in hi-tech engineering

industries such as power generation, petrochemicals, fertilisers etc. Steel will continue

to be the most popular, versatile and dominant material for wide ranging applications.

While India may not become a leader in world steel market, it can become a powerful

force.

To help the Indian Steel Industry achieve its potential and play a meaningful

role in Indias development some steps need to be taken

Steel is yet to touch the lives of millions of people in India. Per capita

consumption of steel in India is only 29 kg and has to go a long way to reach

consumption levels of around 400 kg in developed countries like USA and

world average of 140 kg.

There is a need to continue the current thrust on infrastructure related activities

and extend them to rural India. Rural Indian today presents a challenge for

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development of the country and the opportunity to increase usage of steel in

these areas through projects such as rural housing etc.

Current shortage of inputs has pushed up the costs for the steel industry.

Government should ensure that quality raw material such iron-ore and coke

are available to the industry. With Ministry of Steel targeting an output of 100

MT of steel by 2020 there is an urgent need to develop raw material resources

for inputs like iron-ore and coal within or outside the country. Countries like

Japan have already taken similar steps to safeguard their industries.

Adequate enabling infrastructure such as power, ports, roads, rail transport is

pre-requisite for the Indian steel industry to remain competitive.

Government should not regulate prices and free market forces should

prevail.Intervention by the Government is only a short-term solution to the

issue of steel prices in the country. Once left alone, market dynamics willautomatically ensure price corrections and determine the optimum price of

steel.

The Indian steel Industry is amongst the least protected in the world. While

developed countries have put numerous tariff and non-tariff barriers on steel

exports from the country, the domestic industry is exposed to cheaper imports

from competing nations. As in case of other important industries, the

Government should give reasonable levels of protection to the domestic steel

industry, which is just starting to get back on its feet.

Industry should be allowed to have a fair return on investment and contribute

to the overall health of the Indian manufacturing segment. The steel industry

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has invested a capital of over Rs 90, 000 crores. CRISIL in a recent study has

concluded that given the large exposure that banks and financial institutions

have to the steel industry, a healthy steel sector is in the interest of the

economy. Steel industry still continues to be unattractive for investors and a

recent study by CRIS INFAC suggests that any new projects with target price

below $270/MT will be economically unattractive.

Today, Indian producers employ world-class standards of technology. Steel

from Indian finds growing acceptability in international markets. But despite

this Indias share in world trade steel is a miniscule 2%. Given the capabilities

of the Indian steel industry there is tremendous scope to increase this share

further. While the steel industry will continue servicing the domestic demand

there is a lot of untapped export potential with the industry. The Government,

in line with EXIM policy 2002-07, should take steps to make Indian exports

more competitive.

Chinas soaring demand (over the past five years Chinas demand for flat steel

has risen at 17 percent as compared with just 2 percent for the rest of theworld: the growth rate in Chinas demand for steel is expected to come down

to 8 percent during 2003 through 2010) which had revived the long term

suffering industry will eventually be satisfied by additional domestic capacity-

hardly a long term solution to the fundamental problem of worldwide capacity.

The basis for such a conclusion is the estimated lower cost of construction of

steel mills in China by some 30 to 50 percent than comparable facilities in the

developed world and the fact that currently the global flat steel industry has at

least 100 million tons of overcapacity. Add to this the worry of economists of

slower economic growth in China and the fact that the country can become a

net exporter with telling effects on future international prices. Adequate steps

must be taken right now to make the Indian steel industry more competitive in

order to meet these challenges. The Indian steel industry may not be able to

afford another crisis similar to he one between 1997-2001

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Current Scenario

1. Indian economy growing @ 8 to 9 %, is one of the fastest growing economies

in the world.

2. Industrial prodn. showing encouraging trends. Index of industrial production

for Capital goods is growing @ 8.4% CAGR and growth in index for

consumer durables was @10.5% CAGR during 2005-06.

3. The 10th plan investment in infrastructure has been envisaged at around

Rs.880,550 crores.

4. The major sector wise anticipated investment is likely to be Rs.292000 crores

in Power, Rs.145000 crores in Roads & Bridges, irrigation Rs. 111000 crores.

5. During 11th plan (2007-08 to 2011-12), the projected investment towards

infrastructure is likely to be Rs. 2027000 crores, an increase of 180% over

10th plan.

6. Per capita steel consumption at 35 kg low as compared to world average of

150 kg. and 300kg for china.

7. National Steel Policy, as formulated by Indian Ministry of Steel envisages the

following -

i. Crude steel production of 110 million tones by 2019-20 at CAGR of 7.1%

from 2004-05.

ii. The demand of steel by 2020 is likely to be 90 million tones at CAGR of 6.9%

from 04-05.

iii. Steel exports by 2020 is likely to grow at CAGR of 13.3% from 04-05 to 26

million tones .

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iv. Steel imports to the country by 2020 shall grow at CAGR of 7.1% from 04-05

to 6 million tones.

8. Lot of steel projects both brownfield and Greenfield likely to come up and are

in various stage of execution.

9. As per the news paper reports (Eco. Times dt.14-11-07), Steel Minister has

projected India's steel production to be around 124 million tones by 2012 and

a capacity of around 275 million tones by 2019-20.

10. During the year 06-07, India produced around 49 million tones of finished

steel which was higher by 11 % over 05-06.

11. Imports at 4.1 million tones during 06-07 was higher by 6.5%. Exports at 4.7

million tones grew by 6.1% during 06-07.

12. During 05-06 Iron ore exports at 84 million tones was almost at the previous

year's level of 87 million tones .

13. During April - Sept.'07 following has been the performance-

i. Crude steel prodn. at 25.7 million tones, exhibited a growth of 5 % over

corresponding period last year.

ii. Exports at 2.6 million tones shows an increase by around 8% over the same

period of last year.

iii. Imports were around 3.2 million tones which was an increase by 63% over

April-Sept'06.

14. Due to infrastructure focus, production of long products is gradually

increasing and ratio of flat to long products is narrowing.

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15. During Ap-Sept'07 non flat steel produced at 12.4 million tones showed an

increase of around 9% over April-Sept'06.

16. In case of flat products prodn. during April-Sept'07 at 12.2 million tones was

almost at same level of last year.

17. Apparent Consumption of steel during April-Sept'07 was 22 million tones

which was an increase by 11 % over April-Sept'06. While long products (excl.

semis) at 12.3 million tones registered a growth of 9%, the flat products

consumption at 12.5 million tones indicated an increase of 12%.

18. With due focus on infrastructure development and strong economic indicators,

the demand for steel in India shall continue to remain robust.

COMPANY PROFILE

About Group

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The company continued to upgrade/ expand the manufacturing facilities in tandem

with market feedback and presently have capacity to produce :-

The company has commissioned Continuous Galvanising Line (CGL) having

annual capacity of 60,000 tonnes for the manufacture of G.P & G.C. Sheets

adjoining to its manufacturing line of Wider Width Cold Rolling at Doarha.

The main Raw Material required for this Galvanized project is Wider Cold

Rolled Steel Sheets which is being produced by our company itself at its

existing facilities at Rampura phul.

1,00,000 tones annually CRCA, CRFH & Coils/Sheets upto 1000 mm width

and thickness varying from 0.12 mm to 2.00 mm.

25000 M.T. CRCA Sheets annually up to 500 mm width and thickness ranging

from 0.38 mm to 5.00 mm.

10,000 M.T. annually Hardened & Tempered/Cold Rolled Steel Strips in

thickness from 0.14 mm to 3.50 mm and width up to 450 mm.

Our Cold Rolled Steel Strips/Coils have now wide acceptance from both domestic and

overseas market segment of Cycle, Automobile, Hardware, Galvanizing, Containers,

General Engineering Industry.

Unit No.1

Consistent quality of narrow width Cold Rolled Steel Strips in the thickness ranging

from 0.38 mm to 5.00 mm and the width range up to 500 mm is being produced by 2

(two) 4 Hi Rolling Mills having production capacity of 25000 M.T. per annum at

company's Unit No.1 at C-122, phase V, Focal point, Ludhiana.

This unit caters to Automobile, General Engineering Sector, Cycle Industries &

Hardware.

Unit No.2

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Our customers base has been expanded with the successful commissioning and

stabilizing of operations from Unit No. II of the company at Rampura phul,

Distt.Bathinda which is engaged in the manufacturing of wider width Cold Rolled

Steel Strips in the thickness range of 0.12 mm to 2.00 mm and width range up to 1000

mm. It has running production capacity of 1,00,000 MT per annum. The main

production shed of this plant spread over an area of 1,00,000 Sq.ft. A reversing 4 HI-I

HI Japan make Cold Rolling Mill, equipped with hydraulic AGC System &

Modernized PLC along with fully automated critical processes and auxiliary Lines.

COMPANY PROFILE

Date of Incorporation

Annual Turn Over

Authorized Capital

Listings

: 20th January, 1988

: Approx. Rs. 200 Crores

: Rs.10,00,00,000/-

: Bombay Stock Exchange Ltd.

Sh. Om Parkash JIndal Chairman (Non Executive)Sh. Bharat Bhushan Jindal Managing Director

Sh. Mohan Lal Jindal Executive Director Sh. Rajinder Kumar jindal Director Sh. B. Mahajan Professional Director Sh. Sanjay Goyal Professional Director

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Regd Office & Unit 1::

Tel ::

Fax ::

E-mail ::

C-122, Phase V, Focal Point, Ludhiana

+91-161-2672446, 2673997, 5018243,

5027155

+91-161-5018244

[email protected]

Unit 2 ::

Tel :::

G.T. Road, Rampura Phul, Bathinda.

+91-01651-30041, 220240

Mfg. of Steel Strips/ Steel Sheets / G.P. & G.C.Sheets

The Company has Presence both in national & international market

Code of conduct

All the Directors and the entire management personnel's are committed to conduct the

operations of the company to achieve goals in an impartial and objective manner withensuring that canons of honesty, transparency, integrity, accountability and openness
mailto:[email protected]:[email protected]

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be the guiding force for all endeavours. Requisite care and diligence has to be ensured

in every policy & method with acting in this wise:'Does it square with what is right

and just.

No one should offer/ give or receive any pecuniary or other benefits in course

of discharge of his assignments. Personal activities and transactions should never

clash or cause conflict with the interest of the company. Disclosures should be made

about all the financial/ commercial transactions where exists personal interest that

may have a potential conflict with the interests of the company at large.

Regular and reliable information be timely disseminated to the stakeholders. The feed back form the customers, stakeholders and all business constituents

should be adhered to the greatest possible manner, thereby, gaining and holding their

loyalty and respect.

Products range

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PRODUCT RANGECOLD ROLLED STEEL COILS/ SHEETS

Thickness (mm) 0.12 to 4.0Width (mm) 11 to 1050 (max)Cut to Length (mm) 500 to 2500 mm with tolerance of +2/ -0 mCoil Weight (MT) up to 18 MTSurface Finish Super Bright, Bright, Dull & Matte

Specification - As per JIS/ BIS/ ASTM/ En StandardsGrades Low Carbon CRCA Grades

Super EDD/ EDD/ DD/ D

Medium & High Carbon CRCA Grade

C-30, C-40, MC11, MC12, HC14

H.R. PICKLED/ SKIN PASSED & OILEDThickness Up to 4.00 mmWidth 1050 mm (max)

GALVANIZED STEEL COIL/ SHEETSPLAIN CORRUGATED

Thickness (mm) 0.14 to 0.63 0.14 to 0.63Width (mm) 11 TO 1000 602, 762, 800, 900, 1000

Surface Finish Regular & Min Spangle Regular Spangle

Grades Soft/ Lock forming Roofing

Total Quality Management

Stelco Ltd. is dedicated to customers satisfaction /service through total Quality

management. Quality in imbuse each dedicated individuals of Stelco to begin with

raw material in procurement & final inspection backed by fully equipped modern

laboratory.

At the same time Environment protection has always been our major concern. Latest

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pollution control equipments have been installed along with thousands of samplings

planted in and around the area.

Company Philosophy on Code of Governance

Company is committed to the principles of transparency, integrity and accountability

in all dealings in pursuit of its organizational goals.

In pursuance of the above, the Board of Directors has constituted committee's to

implement its policies and guidelines and has set up adequate review systems for

exercising effective management control and ensuring compliance of laws. There is

adequate representation of independent directors on the board. We believe in timelyand transparent disclosure of information.

Our focus on sustainable growth, productivity improvement,

commitment to quality, self-discipline, value of time, safety in operations , total

customer's satisfaction is unrelenting

The company will continue its efforts towards raising the standards in Corporate

Governance and will also review its systems and procedures constantly in pace with

the changing economic environment.

Market

Stelco Limited has strategic advantage of being located in an industrial friendly area

of Rampua Phul Distt. Bathinda which itself is well known hub of Cold rolled Steel

Strips/Sheets with consumers ranging from cycle industry, automobile, hardware,

galvanized steel to containers and other engineering users. Moreover, it is having all

amenities for exports like Dry Port, export houses and banking channels.

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We are having market perpetuation not in India but also in overseas market with

strategic tie ups with the direct corporate engineering manufacturers /users. Apart

from it, orders are also executed as received through dealers network in accordance

with customers specifications.

The exports have been directly by companys own marketing wing or through reputed

indent agencies which presently cover the following countries:

Austria

China

Tanzania

Vietnam

Nepal

Philippine

Sri Lanka

Nigeria

Indonesia

INTRODUCTION TO TOPIC

Job satisfaction

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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 (2002) 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 behaviours . This definition suggests that we form

attitudes towards our jobs by taking into account our feelings, our beliefs, and our

behaviors.

OBJECTIVES OF THE STUDY

Job satisfaction describes how content an individual is with his or her job.

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 work groups. 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 rate 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 (where 1 represents "not at all satisfied" and 5

represents "extremely satisfied").

H istory

One of the biggest preludes to the study of job satisfaction was the Hawthorne studies.

These studies (1924-1933), primarily credited to Elton Mayo of the Harvard Business

School, sought to find the effects of various conditions (most notably illumination) on

workers productivity. These studies ultimately showed that novel changes in work

conditions temporarily increase productivity (called the Hawthorne Effect). It was

later found that this increase resulted, not from the new conditions, but from the
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knowledge of being observed. This finding provided strong evidence that people work

for purposes other than pay, which paved the way for researchers to investigate other

factors in job satisfaction.

Scientific management (aka Taylorism) also had a significant impact on the study of

job satisfaction. Frederick Winslow Taylors 1911 book, Principles of Scientific

Management, argued that there was a single best way to perform any given work task.

This book contributed to a change in industrial production philosophies, causing a

shift from skilled labor and piecework towards the more modern approach of

assembly lines and hourly wages. The initial use of scientific management by

industries greatly increased productivity because workers were forced to work at a

faster pace. However, workers became exhausted and dissatisfied, thus leaving

researchers with new questions to answer regarding job satisfaction. It should also be

noted that the work of W.L. Bryan, Walter Dill Scott, and Hugo Munsterberg set the

tone for Taylors work.

Some argue that Maslows hierarchy of needs theory, a motivation theory, laid the

foundation for job satisfaction theory. This theory explains that people seek to satisfy

five specific needs in life physiological needs, safety needs, social needs, self-

esteem needs, and self-actualization. This model served as a good basis from which

early researchers could develop job satisfaction theories.

Models of job satisfaction

Affect Theory

Edwin A. Lockes Range of Affect Theory (1976) is arguably the most famous job

satisfaction model. The main premise 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.g. the degree of

autonomy in a position) moderates how satisfied/dissatisfied one becomes when

expectations are/arent 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 doesnt value that

facet. To illustrate, if Employee A values autonomy in the workplace and Employee B
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is indifferent about autonomy, then Employee A would be more satisfied in a position

that offers a high degree of autonomy and less satisfied in a position with little or no

autonomy compared to Employee B. This theory also states that too much of a

particular facet will produce stronger feelings of dissatisfaction the more a worker

values that facet.

Dispositional Theory

Another well-known job satisfaction theory is the Dispositional Theory[citation needed]. 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 of evidencethat 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 Timothy 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 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[citation

needed].

Two-Factor Theory (Motivator-Hygiene Theory)

Frederick 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 to perform, and provide people with satisfaction, for example

achievement in work, recognition, promotion opportunities. These motivating factors

are considered to be intrinsic to the job, or the work carried out. Hygiene factors
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include aspects of the working environment such as pay, company policies,

supervisory practices, and other working conditions.

While Hertzberg's model has stimulated much research, researchers have been unable

to reliably empirically prove the model, with Hackman & Oldham suggesting that

Hertzberg's 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.

Job Characteristics Model

Hackman & Oldham proposed the Job Characteristics Model, which is widely used as

a framework to study how particular job characteristics impact on job outcomes,

including job satisfaction. The model states that there are five core job characteristics

(skill variety, task identity, task significance, autonomy, and feedback) which impact

three critical psychological states (experienced meaningfulness, experienced

responsibility for outcomes, and knowledge of the actual results), in turn influencing

work outcomes (job satisfaction, absenteeism, work motivation, etc.) . The five core

job characteristics can be combined to form a motivating potential score (MPS) for a

job, which can be used as an index of how likely a job is to affect an employee's

attitudes and behaviors----. A meta-analysis of studies that assess the framework of

the model provides some support for the validity of the JCM

Measuring job satisfaction

There are many methods for measuring job satisfaction. By far, the most common

method for collecting data regarding job satisfaction 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, checklists, and forced choice

answers.

The Job Descriptive Index (JDI), created by Smith, Kendall, & Hulin (1969), is a

specific questionnaire of job satisfaction that has been widely used. It measures ones
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satisfaction in five facets: pay, promotions and promotion opportunities, coworkers,

supervision, and the work itself. The scale is simple, participants answer either yes,

no, or cant decide (indicated by ?) in response to whether given statements

accurately describe ones job.

The Job in General Index is an overall measurement of job satisfaction. It is an

improvement to the Job Descriptive Index because the JDI focuses too much on

individual facets and not enough on work satisfaction in general.

Other job satisfaction questionnaires include: the Minnesota Satisfaction

Questionnaire (MSQ), the Job Satisfaction Survey (JSS), and the Faces Scale. The

MSQ measures job satisfaction in 20 facets and has a long form with 100 questions(five items from each facet) and a short form with 20 questions (one item from each

facet). The JSS is a 36 item questionnaire that measures nine facets of job satisfaction.

Finally, the Faces Scale of job satisfaction, one of the first scales used widely,

measured overall job satisfaction with just one item which participants respond to by

choosing a face.

Variables and Measures

The overall job satisfaction levels of the Faculty members measured with the help of

five dimensions namely; Job, supervisor, coworkers, pay and promotion.

Information regarding faculty members' age, education, job level, foreign

qualification, numbers of years in organization, other sources of income, sex, and

marital status has also been obtained.(Shamail etal, 2004)

Relationships and practical implications

Job Satisfaction can be an important indicator of how employees feel about their jobs

and a predictor of work behaviours such as organizational citizenship, absenteeism ,

and turnover . Further, job satisfaction can partially mediate the relationship of

personality variables and deviant work behaviors.
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One common research finding is that job satisfaction is correlated with life

satisfaction. This correlation is reciprocal, meaning people who are satisfied with life

tend to be satisfied with their job and people who are satisfied with their job tend to

be satisfied with life. However, some research has found that job satisfaction is not

significantly related to life satisfaction when other variables such as nonwork

satisfaction and core self-evaluations are taken into account .

An important finding for organizations to note is that job satisfaction has a rather

tenuous correlation to productivity on the job. This is a vital piece of information to

researchers and businesses, as the idea that satisfaction and job performance are

directly related to one another is often cited in the media and in some non-academic

management literature. A recent meta-analysis found an average uncorrected

correlation between job satisfaction and productivity to be r=.18; the average true

correlation, corrected for research artifacts and unreliability, was r=.30. Further, the

meta-analysis found that the relationship between satisfaction and performance can be

moderated by job complexity, such that for high-complexity jobs the correlation

between satisfaction and performance is higher (=.52) than for jobs of low to

moderate complexity (=.29). In short, the relationship of satisfaction to productivity

is not necessarily straightforward and can be influenced by a number of other work-

related constructs, and the notion that "a happy worker is a productive worker" should

not be the foundation of organizational decision-making.

With regard to job performance, employee personality may be more important than

job satisfaction. The link between job satisfaction and performance is thought to be a

spurious relationship; instead, both satisfaction and performance are the result of

personality
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Review of Literature

Accession Number : ADA076456

Title : Job Satisfaction: Literature Review and Empirical Test of a Job Facet

Satisfactions Model.

Descriptive Note : Master's thesis,

Corporate Author : AIR FORCE INST OF TECH WRIGHT-PATTERSON AFB OH

SCHOOL OF ENGINEERING

Personal Author(s) : Talbot,Terry Ray

Report Date : SEP 1979

Pagination or Media Count : 184

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Abstract : The broad objective of this study was to examine the nature and causes of

job satisfaction. This was pursued through a literature review of the more popular

theories and models pertaining to job satisfaction. Included in the review are

summaries of Maslow's and Alderfer's need hierarchy theories, achievement

motivation theory, Herzberg's motivation-hygiene theory, expectancy theory, job

characteristics theories, discrepancy theory, equity theory, and studies relating to the

clustering of facet satisfactions. The specific objective of this research was to test the

efficacy of a three cluster model of facet satisfactions. This was accomplished through

a survey which was completed by 267 Air Force officers attending Squadron Officer

School and Air Command and Staff College. Conclusions reached by the study were

that for Air Force officers in the ranks of captain and major: 1. Job satisfaction is

higher for older oficers who have more time in the service. 2. There is no evidence of

a relationship between education level and job satisfaction. 3. Non-rated officers are

more satisfied with their jobs than rated officers. 4. Work environment facet

satisfactions are interpreted by employees to form three clusters: job properties,

interaction features, and organization policy variables. 5. The three clusters of facet

satisfactions vary in importance to overall job satisfaction with job properties being

most important and organization policies being least important. (Author)

Descriptors : *JOB SATISFACTION, MODELS, LITERATURE SURVEYS,

PERFORMANCE(HUMAN), THEORY, THESES, AIR FORCE PERSONNEL,

QUALITY, WORK, MOTIVATION, OFFICER PERSONNEL, QUESTIONNAIRES.

Subject Categories : PSYCHOLOGY

PERSONNEL MANAGEMENT AND LABOR RELATIONS

Distribution Statement : APPROVED FOR PUBLIC RELEASE

The Job-Satisfaction/ Life-Satisfaction Relationship: A Review of

Empirical Research

Authors: Robert W. Rice; Janet P. Near; Raymond G. HuntDOI: 10.1207/s15324834basp0101_4

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Publication Frequency: 4 issues per year

Published in: Basic and Applied Social Psychology, Volume 1, Issue 1 March 1980 ,

pages 37 - 64

Abstract

After a brief discussion of the nature and importance of work, this article reviews

empirical research that relates satisfaction with work to satisfaction with life. The

review covers more than 350 job-satisfaction/life-satisfaction relationships reported in

23 studies that vary widely in terms of the sample, instrumentation, and date of

survey. For more than 90% of the cases, the direction of this relationship is positive;

and none of the scattered negative relationships is statistically reliable. The magnitude

of the reported zero-order relationship between job satisfaction and overall life

satisfaction is typically modest, with correlations mostly in the mid-.30's for males

and mid-.20's for females. The typical job-satisfaction/life-satisfaction correlation

drops to the low teens when specific facets of life satisfaction, such as marital or

leisure satisfaction, are used instead of overall life satisfaction. Discussion of these

findings focuses on conceptual and methodological concerns at the more general level

of the relationship between work and nonwork.

The case against job satisfaction - a satisfied worker is not necessary

a productive worker

Since the widely renowned Hawthorne studies of the 1920s and 1930s, the working

hypothesis of the human relations movement in management has consistently

proposed that the satisfied worker is a productive worker. In the past six decades,

thousands of scholarly studies have used worker satisfaction as a central research

variable. But this flood of research has offered scant support to the proposition that asatisfied worker is a superior producer. The original Hawthorne studies have

themselves been subject to radical criticism in that span of time. So it is perhaps time

to review the relevance of worker satisfaction as industrial policy.

For nearly four decades, leading social scientists have observed that worker

satisfaction is, at best, related to work productivity at only a trivial level of statistical

correlation. Victor Vroom's 1964 estimate of an average correlation of 0.14

characterizes the typical quantified research result available in the literature. This
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magnitude of correlation implies that no more than 2 percent of the variance in output

can be accounted for by worker satisfaction. Various other researchers along the way

have observed that causality may as readily flow from high productivity to

satisfaction as in the opposite direction. Even the limited relationship of satisfaction

and work output that is found offers scant comfort to those seeking confirmation of

the "satisfied worker is a productive worker" hypothesis. It certainly leaves much to

be desired as a foundation for organizational policy formulation in support of high-

performance management systems.

RESEARCH EVIDENCE CONCERNING JOB SATISFACTION

The job satisfaction research literature has been thoroughly reviewed at intervals of

about a decade in the past half century. Brayfield and Crockett (1955), Vroom (1964),

and Locke (1976) each summarized the field extensively and observed the limited

influence of satisfaction on work output. After 1973, as job satisfaction research

mutated into the Quality of Work Life movement, concern among serious scientists

with job satisfaction as a major research paradigm faded. In his 1984 review of

organizational behavior for the Annual Review of Psychology, Barry Staw dismissed

attitude surveys and satisfaction measures as "throw-away variables," characterizing

the field as dominantly correlational in method and "rather atheoretical." In scientific

terms, this was the equivalent of consigning it to irrelevance.

Nevertheless, continuing the tradition of once-a-decade revisits to the subject,

Iaffaldano and Muchinsky (1985) updated the job satisfaction literature. They

confirmed the limited causal relationship between worker satisfaction and work

output, lamenting that "empirical support for the satisfaction-performance relation

does not approximate the degree to which this relation has been espoused in theories

of organizational design." With so much disconfirmation, it would seem that the

presumed relation of job satisfaction and work performance should long ago have

been left behind as a dead-end issue.

Even if satisfaction and work performance are unrelated, though, many research

findings remain that suggest continuing business relevance in the assessment of

worker satisfaction. The extensive literature available contains potentially informative

findings concerning job satisfaction that merit mention. It will be useful to summarize

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the findings this vast body of research has yielded in its stormy, politicized history,

then take a fresh look at the meaning of worker satisfaction for management practice

and theory.

The reviews of Vroom and Locke survey the relevant research findings concerning

job satisfaction rather fully. The following discussion of job satisfaction correlates

draws heavily on their review summaries as well as on the experience and

observations of this writer. Readers seeking more detail about job satisfaction research

might do well to directly reference the sources cited at the conclusion of this article.

TURNOVER AND ABSENTEEISM AMONG DISSATISFIELD WORKERS

The easiest starting point for summarizing the effects of job satisfaction on worker

behavior is with those issues that have been consistently related to workers'

expression of satisfaction or dissatisfaction with their jobs. These are turnover and

absenteeism.

Dissatisfaction is consistently associated with higher levels of labor turnover. Those

workers who are most dissatisfied also exhibit a higher frequency of absence. The

explanation most frequently offered for this correlation is the likelihood that peopleescape, even if only temporarily, from unpleasant work circumstances. The

correlations found, though, are typically moderate and by no means explain all of the

variability in observed absence or turnover rates. Many other factors are also

influential here.

Absences, for instance, often increase around holidays. Indeed, the tendency is so

common that many employers require advance permission for absences or actual

attendance on the work days immediately preceding and following the holiday as a

condition for receiving holiday pay. Absences are also known to increase with

alcoholism, addiction, and poor health. The most common basis of separation for

cause is excessive absenteeism, and the major cause of these absences is the physical

inability to be at work. Absences may also be the result of dissatisfactions outside the

workplace that have nothing to do with one's job. Thus, while absences and

dissatisfaction are sometimes statistically correlated, costly and extensive redesign of

work to increase satisfaction with the purpose of reducing absenteeism would be

difficult to justify in many if not most instances.

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RESEARCH METHODOLOGY

Research is defined as human activity based on intellectual application in the

investigation of matter. The primary aim for applied research is discovering,

interpreting, and the development of methods and systems for the advancement of

human knowledge on a wide variety of scientific matters of our world and the

universe. Research can use the scientific method, but need not do so..

.Research processes

Generally, research is understood to follow a certain structural process. Though step

order may vary depending on the subject matter and researcher, the following steps

are usually part of most formal research, both basic and applied:

Formation of the topic

Hypothesis

Conceptual definitions

Operational definitions
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Gathering ofdata

Analysis of data

Test, revising of hypothesis

Conclusion, iteration if necessary

A common misunderstanding is that by this method a hypothesis can be proven or

tested. Generally a hypothesis is used to make predictions that can be tested by

observing the outcome of an experiment. If the outcome is inconsistent with the

hypothesis, then the hypothesis is rejected. However, if the outcome is consistent with

the hypothesis, the experiment is said to support the hypothesis. This careful language

is used because researchers recognize that alternative hypotheses may also be

consistent with the observations. In this sense, a hypothesis can never be proven, but

rather only supported by surviving rounds of scientific testing and, eventually,

becoming widely thought of as true (or better, predictive), but this is not the same as it

having been proven. A useful hypothesis allows prediction and within the accuracy of

observation of the time, the prediction will be verified. As the accuracy of observation

improves with time, the hypothesis may no longer provide an accurate prediction. In

this case a new hypothesis will arise to challenge the old, and to the extent that the

new hypothesis makes more accurate predictions than the old, the new will supplant

it.

OBJECTIVES OF THE STUDY

PRIMARY OBJECTIVE

Primary objective of study is to determine the level of satisfaction among employees.

Secondary objective

To make plan to induce greater satisfaction

To identify variables which have a significant impact on the satisfaction of emloyees.
http://en.wikipedia.org/wiki/Datahttp://en.wikipedia.org/wiki/Hypothesishttp://en.wikipedia.org/wiki/Hypothesishttp://en.wikipedia.org/wiki/Hypothesishttp://en.wikipedia.org/wiki/Datahttp://en.wikipedia.org/wiki/Hypothesishttp://en.wikipedia.org/wiki/Hypothesishttp://en.wikipedia.org/wiki/Hypothesis

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RESEARCH DESIGN

Research Design is an arrangement of conditions for collection and analysis of data in

a manner that aims to combine relevance to the research purpose with economy in

procedure. A good research design has the chracterstics viz problem definition.

Specifis method of data collection and analysis, a research design is purely and simply

the frame work or planned for a study that guodes the collection and analysis of data.

The research design includes the following :

1. Data collection methods

2. Research instrument

3. Sampling Design

DATA COLLECTION METHODS

There are two ways of collecting data

1. Primary

2. Secondary

PRIMARY :

Primary data is the first hand data, which do not exist in any records or publication.

Primary data can be collected by Qustionnaire, personal interviews.

SECONDARY :

Secondary data are those data, which already exists, records and publications. This

information is already available in a complied and processed form.

For this project Primary data was used by means of questionnaire.

RESEARCH INSTRUMENT

As personal interview method is used for collecting primary data, questionnaire is

research instrument.

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A closed ended questionnaire was designed to satisfy the research objectives.

SAMPLING DESIGNPopulation : Employees of Stelco Ltd.

Sample Size : 35

Sampling unit : Managers and Employees of Stelco Ltd.

Scope of the study

Regional Scope: The research has been conducted with employees who are working

with STELCO LTD.

Respondent Scope:

LIMITATIONS OF THE STUDY

The response of the employees was biased in certain questions and some of the lime

vague answers were given due to which proper analysis could not be made.

Closing of financial year made get in touch with employees at all levels of management

difficult.

Hesitation of employees to disclose companys policies openly.

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DISCUSSION & INTERPRETATION

Q1 .Are you satisfied with nature of the job ?

Table no: 1

Parameters No. of Respondents Percentage

Very satisfied 14 40

Satisfied 16 45.71

Neither satisfied nordissatisfied

4 11.42

Low 1 2.85

Very Low 0 0

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Chart no: 1

40%

45%

12%

3%

0%very satisfied

satisfied

neither satisfied nor

dissatisfied

dissatisfied

very dissatisfied

Interpretation:

With reference to our chart no.1, we can conclude that, 40% of employees are very satisfied with

the nature of job while 45% of employees in the organization are satisfied, 12% are neither

satisfied nor dissatisfied, 3% of them are dissatisfied.

Q2.Are you satisfied with information flow around the organization ?

Table no: 2


Very satisfied 5 14.28

Satisfied 26 74.28


3 8.57

Low 1 2.85

Very Low 0 0

Chart no:2

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14%

74%

9%

3% 0%

very satisfied

satisfied


dissatisfied

dissatisfied

very dissatisfied

Interpretation:

With reference to chart no-2, we can conclude that, 14% of the employees in the organization are

very satisfied with the information flow in the organization, 74% of employees are satisfied

while 9% of them are neither satisfied nor dissatisfied and only 3% of them are dissatisfied.

Q3. Are you satisfied with relationship with other people at work ?

Table no: 3



Satisfied 14 40


5 14.28

Low 0 0

Very Low 0 0

Chart no: 3

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46%

40%

14%

0%

0%very satisfied

satisfied


dissatisfied

dissatisfied

very dissatisfied

Interpretation

With reference to chart no-3, we can conclude that, 46% of the employees maintain very good

relation among themselves, while 40% of them are satisfied and only 14% of them are neither

satisfied nor dissatisfied.

Q4. Are you satisfied with way changes and innovations are implemented in your

orgnisation ?

Table no:4


Very satisfied 7 20

Satisfied 18 51.42


9 25.71

Low 1 2.85

Very Low 0 0

Chart no:4

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20%

51%

26%

3%

0%very satisfied

satisfied


dissatisfied

dissatisfied

very dissatisfied

Interpretation

With reference to chart no-4, we can conclude that, 20% of the employees are very satisfied with

the innovations and changes implemented in the organization ,while 51% of the employees are

satisfied, 26% of them are neither satisfied nor dissatisfied, and only 3% of them are dissatisfied.

Q5. Are you satisfied with kind of work or task requires performing in job?

Table no:5



Satisfied 19 54.28


10 28.57

Low 0 0

Very Low 0 0

Chart no:5

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17%

54%

29%

0%0% very satisfied

satisfied


dissatisfied

dissatisfied

very dissatisfied

Interpretation

With our reference to chart no-5, we can conclude that, 17% of the employees are

very satisfied with the task to be performed in the organization, while 54% of them

are satisfied, and 295 of them are neither satisfied nor dissatisfied.

Q6. What is degree of personal growth in your organization?

Table no:6



Satisfied 13 37.14


11 31.42

Low 5 14.28

Very Low 0 0

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Chart no: 6

17%

38%

31%

14%0%

very high

high

neither high nor low

low

very low

Interpretation

With reference to chart no-6, we can conclude that, 17% of the employees think that degree of

personal growth is very high, while 38% of them think that degree is high, and 31% think that it

is neither high nor low, only 14% of them think that degree is low.

Q7 Are you satisfied with the manner in which conflicts are resolved in organizations?

Table no:7



Satisfied 17 48.57


12 34.28

Low 4 11.42

Very Low 0 0

Chart no: 7

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6%

49%34%

11%

0%

very satisfied

satisfied


dissatisfied

dissatisfied

very dissatisfied

Interpretation

With reference to chart no-7, we can conclude that, 6% of the employees are very

satisfied with the manner in which the conflicts are resolved in the organization, while

49% of the employees are satified, and 34% of them neither satisfied nor dissatisfied,

only 11% of them are dissatisfied.

Q8. What is amount of participation of employees in management decision making?

Table no:8



Satisfied 12 34.28


13 37.14

Low 6 17.14

Very Low 2 5.71

Chart no: 8

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6%

34%

37%

17%

6%

very highhigh

neither high nor low

low

very low

Interpretation

With reference to chart no-8, we can conclude that 6% of employees think that there participation

in decision making is very high, while 34% of the employees think that there involvement is

high, 37% of them think that it is neither high nor low ,and 17% of them think it is low, only 6%

of them think that it is very low.

Q9 .Salary relative to experience ?

Table no:9



Satisfied 16 45.71


6 17.14

Low 1 2.85

Very Low 0 0

Chart no: 9

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34%

46%

17%

3%

0%very satisfied

satisfied


dissatisfied

dissatisfied

very dissatisfied

Interpretation

With reference to chart no-9, we can conclude that, 34% of the employees are very satisfied with

the salary related to experience, while 46% of the employees are satisfied, and 17% of them are

neither satisfied nor dissatisfied, only 3% of them are dissatisfied.

Q10 . Bonus Plan ?

Table no:10



Satisfied 15 42.85


15 42.85

Low 1 2.85

Very Low 0 0

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Chart no: 10

11%

43%

43%

3%

0%

very satisfied

satisfied


dissatisfied

dissatisfied

very dissatisfied

Interpretation

With reference to chart no-10, we can conclude that 11% of the employees are very satisfied with

the bonus plan, while 43% of them are satisfied, and 43% of them are neither satisfied nor

dissatisfied, only 3% of them are dissatisfied.

Q11..Promotion Avenues ?

Table no:11



Satisfied 19 54.28Neither satisfied nordissatisfied

9 25.71

Low 1 2.85

Very Low 0 0

Chart no: 11

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17%

54%

26%

3%

0%

very satisfied

satisfied


dissatisfied

dissatisfied

very dissatisfied

Interpretation

With reference to chart no-11, we can conclude that, 17% of the employees are very satisfied

with the promotion avenue , while 54% of the employees are satisfied, and 26% are neither

satisfied nor dissatisfied, only 3% of them are dissatisfied.

Q12. Casual leaves/Earned leaves ?

Table no:12


Very satisfied 7 20

Satisfied 19 54.28


9 25.71

Low 0 0

Very Low 0 0

Chart no: 12

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20%

54%

26%

0%

0%very satisfied

satisfied


dissatisfied

dissatisfied

very dissatisfied

Interpretation

With reference to chart no-12, we can conclude that, 20% of employees are very satisfied with

the leave system followed in there organization, while 54% of them are satisfied, and only 26%

of them are neither satisfied nor dissatisfied.

Q13. Mental satisfaction ?

Table no:13

Parameters No. of Respondents PercentageVery satisfied 9 25.71

Satisfied 15 42.85


11 31.42

Low 0 0

Very Low 0 0

Chart no: 13

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26%

43%

31%

0%

0% very satisfied

satisfied


dissatisfied

dissatisfied

very dissatisfied

Interpretation

With reference to the chart no-13, we can conclude that, 26% of the employees are very much

mentally satisfied, while 43% of them are satisfied.and 31% of them are neither satisfied nor

dissatisfied.

Q14. Canteen ?

Table no: 14



Satisfied 23 65.71


5 14.28

Low 5 14.28

Very Low 0 0

Chart no: 14

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6%

66%

14%

14%

0%

very satisfied

satisfied


dissatisfied

dissatisfied

very dissatisfied

Interpretation

With reference to chart no-14, 6% of employees are very satisfied with the canteen system in

their organization ,while 66% of the employees are satisfied, and 15% of the employees think

that it is neither high nor low, and 15% of them are dissatisfied.

Q15. Performance Appraisal ?

Table no:15

Parameters No. of Respondents PercentageVery satisfied 5 14.28

Satisfied 21 60


7 20

Low 2 5.71

Very Low 0 0

Chart no: 15

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14%

60%

20%

6%

0%

very satisfied

satisfied


dissatisfied

dissatisfied

very dissatisfied

Interpretation

With reference to chart no-15, 14% of the people are satisfied with the performance appraisal

system followed in their organization, while 60% of the employees are satisfied, and 20% of the

employees are neither satisfied nor satisfied, and 6% of the employees are dissatisfied.

Q16. Training and Development ?

Table no:16



Satisfied 15 42.85


11 31.42

Low 6 17.14

Very Low 0 0

Chart no: 16

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9%

43%

31%

17%0% very satisfied

satisfied


dissatisfied

dissatisfied

very dissatisfied

Interpretation

With reference to the chart no-16, we can conclude that, 9% of the employees are fully satisfied

with the training that they are provided, while 46% of them are just satisfied, and 31% of the

employees are neither satisfied nor dissatisfied,17% of the employees are dissatisfied.

SUGGESTIONS AND RECOMENDATION

In both the organization very less employees are extremely satisfied with the reward

system of their organization, majority of employees are just satisfied with the reward

system, so organization should focus on reward system to increase the morale of the

employees.

Effect should be made on the part of employee. So that they can identify with

objectives of orgnisations.

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Degree of motivation should be increased.

Implementations of changes and innovations should de properly done.

More oppurtunities should be provided to increase scope of job i.e, worker should

be given chance to man his own job.

There should be proper adoption and maintenance of well planned and eff

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