Lotte India Corporation Project
Lotte India Corporation Project
AT
LOTTE INDIA CORPORATION
BY
K.PRAKASH
REG. NO: 311615631016
A summer project report submitted to faculty of
MANAGEMENT STUDIES
In the partial fulfillment for the award of the degree
Of
MASTER OF BUSINESS ADMINISTRATION
JULY 2016
1
BONAFIDE CERTIFICATE
2
DECLARATION
I also declare that this report has not been submitted to any other university or institute for the
award of any fellowship, degree or diploma.
DATE : Reg.No.311615631016
3
ACKNOWLEDGEMENT
I feel privileged to give my sincere and heartfelt thanks to Dr.SHANTHI NACHIAPPAN Ph.D
and my faculty guide Mr. V. Ramu Vasu B.Com.,MBA,M.Phil. Asst Prof, MBA Dept for
providing me valuable guidance for carrying out this project and heartfelt thanks to all faculty
members of Department of Management Studies who helped me a lot with their fruitful ideas
and suggestions.
K.PRAKASH
4
LIST OF CONTENTS
CHAPTER NO. TITLE PAGE NO.
ABSTRACT
LIST OF TABLES
LIST OF CHARTS
1 1.1 INTRODUCTION
1.2 INDUSTRY
PROFILE
1.3 COMPANY
PROFILE
2 REVIEW OF LITERATURE
3 RESEARCH
METHODOLOGY
3.1 NEED OF THE
STUDY
3.2 OBJECTIVES OF
THE STUDY
3.3 SCOPE OF THE
STUDY
3.4 LIMITATIONS OF THE
STUDY
4 DATA ANALYSIS AND
INTERPRETATION
5 5.1 FINDINGS OF THE
STUDY
5.2 SUGGESTIONS OF THE
STUDY
5.3 CONCLUSION
BIBLIOGRAPHY
ANNEXURE
5
ABSTRACT
Employee satisfaction has become important for the employees to do their works.
Customers of late are seen hoping from one company to the other depending on the
kind of services offered. The problems envisaged as a result of loss of customer’s
service are damage to corporate image, low profitability and loss of competitive edge
etc... The objective of the study is to find out the overall employees satisfaction in Lotte
India Corporation Ltd, Chennai. A sample size of 50 respondents was chosen for the
study. Data was obtained through the use of questionnaire. Data presentation and
discussion was supported with line graphs and tables. Datas were analyzed using
descriptive statistic and were test relations using one way ANOVA. The findings stated
most of the respondents 56% employees are respondents for financial motivation in
origination.
6
LIST OF TABLES
TABLE NO PARTICULARS PAGE NO.
4.1 TABLE SHOWING AGE –
WISE DISTRIBUTION OF
RESPONDENTS
4.2 TABLE SHOWING
EXPERIENCE WISE
DISTRIBUTION OF
RESPONDENTS
7
TRAINING INCREASE IN
PRODUCTIVITY JOB OF
RESPONDENTS
8
LIST OF CHARTS
TABLE NO PARTICULARS PAGE NO.
4.1 CHART SHOWING AGE –
WISE DISTRIBUTION OF
RESPONDENTS
4.2 CHART SHOWING
EXPERIENCE WISE
DISTRIBUTION OF
RESPONDENTS
9
TRAINING INCREASE IN
PRODUCTIVITY JOB OF
RESPONDENTS
10
CHAPTER-I
INTRODUCTION
11
EMPLOYEE SATISFACTION
MEANING:
Employee satisfaction is the terminology used to describe whether employees are happy and
contented and fulfilling their desires and needs at work. Many measures purport that employee
satisfaction is a factor in employee motivation, employee goal achievement, and positive
employee morale in the workplace. Employee satisfaction is the term used to describe a
situation when employees are satisfied and contented with his job and the office environment.
Importance of Employee Satisfaction
Employee Satisfaction is of utmost importance in any organization be it small or large.
Thinking that employee satisfaction is important only for the employee then it is not right. It is
equally important for the organization for which the employee is working as well. The
following points will show the importance of employee satisfaction easily.
DEFINITION
Employee satisfaction can be determined in several ways. Firstly, a questionnaire can be sent
to the employees. Secondly, the employees can be asked directly when they have their progress
meetings. Or, it can be gathered from information on how long employees stay at a business on
average.
12
TYPE OF EMPLOYEE SATISFACTION
Employee Attitude Surveys: Assess employees’ emotions and feelings within the workplace.
Employee Satisfaction Surveys: Determine the root cause of dissatisfaction issues, and target
them accordingly.
Employee Engagement Surveys: Measure how engaged, eager, and dedicated employees are
with respect to their job, coworkers, management, and the company.
360 Surveys: Examine the employee from multiple viewpoints, including coworkers,
supervisors, managers, subordinates, vendors, and customers.
Organizational Assessment Surveys: Measure the key strengths in a company, from a global
perspective.
Employee Exit Surveys. Provide valuable insight into workplace relationships, training,
opportunities for growth, and work processes within an organization.
Employee Benefits Surveys. Regularly survey employees regarding benefits satisfaction can
help organizations tailor benefit plans to their employees.
13
1.1 COMPANY PROFILE
14
Corporate Philosophy: -
VISION: -
Company: -
“At the heart of the corporate purpose, which guides us in our approach to doing business, is
the drive to serve consumers in a unique and effective way”.It’s a story born in the age of
British Raj. When children in India found confectionery hard to come by. It had to be imported
from across the seas until the year 1914; When Parry’s picked up the gauntlet and pioneered
the manufacture of sweets - the first to do so in the country. Parry’s sweets went on to become
a household name- a name that people recollect with warmth and a smile. Ever since, the
Parry’s factory was set up in Nellikuppam, in the Cuddalore District of Tamilnadu in South
India. Parry’s has become synonymous with Sweets and Confectionery. With the penchant we
Indians have for sweets is not surprising that this smooth, milky and irresistibly delicious
confectionery is the best gift any child could get. And an obsession with quality ensured that
children had a choice of nothing but the very best in confectionery.In the nine decades since,
the scenario has undergone a dramatic change. There are a number of offerings in the market
today, each wooing children with a wide array of products. But Parry’s still finds a prominent
place in the heart of consumers.
Parry’s has always stayed at the top, having weathered the vicissitudes of change, with our ear
close to the ground - and to the hearts of children, changing, adapting and growing with the
times - But never losing sight of its values traditions and ethics. At the turn of this century,
15
Parry’s is poised on the threshold of greater challenges in a global village, where dynamism
and innovation is the very law of survival.
In the backdrop of India joining the WTO, and the global giants eyeing the Indian Market with
enthusiasm, the company needed to strengthen itself and broaden its base to delight customers
across the country and abroad. With this vision in the mind, Murugappa Group, promoters of
Parry’s Confectionery Limited entered in to an agreement with Lotte Confectionery Limited,
South Korea, by which the, entire shares which Murugappa Group, the founders of Parrys
Confectionery Limited, held was divested to Lotte Confectionery Limited -A South Korean
Multinational giant.
Lotte Confectionery is the first Company of the Lotte family of Companies founded by Mr.
Shin Kyuk-ho. The three L’s in the Lotte Emblem stand for Love, Liberty and Life. The
Corporate philosophy and idealism of Lotte is driven by dream of a world full of Love where
people care for each other and respect each other’s thoughts. The Lotte Group has presence in
Food & Beverages, Distribution, Tourism and Leisure business; Heavy Chemicals,
Construction and Machinery; Information, Communication and Electronics, Trading and
Services apart from Welfare Research and Support Services. The Lotte Confectionery Co. Ltd.
is the Lotte Group’s flagship Company in Foods and Beverages category. Lotte Confectionery,
Korea, was established with 500 employees in 1967 and today it has more than 6000
Employees. It has over 500 products produced at 5 large-scale plants in Korea. Lotte has been
actively working towards establishment of overseas branches, production facilities and has a
presence in more than 70 countries. Lotte Confe ctionery’s annual Sales are over USD 900
millions, Apart from Korea, Lotte has overseas investments in production facilities in China,
Philippines and Vietnam. Lotte Confectionery’s Main line products are Chewing Gum (Lotte
Xylitol, Lotte Juicy & Fresh, Lotte Spearmint, Lotte Fresh Mint, Flavono, White & E, Spout
Café Coffee) Candy, Biscuits, Chocolates, Snacks, Ice cream, and health care product.
16
1.2 INDUSTRY PROFLIE
17
FOOD AND BEVERAGE INDUSTRY
INTRODUCTION: -
The food industry is a complex, global collective of diverse businesses that supply much of
the food energy consumed by the world population. Only subsistence farmers, those who
survive on what they grow, can be considered outside of the scope of the
modern food industry.
Regulation: local, regional, national and international rules and regulations for food
production and sale, including food quality and food safety, and industry lobbying activities
A type of good that is consumed every day by the average consumer. The goods that
comprise this category are ones that need to be replaced frequently, compared to those that are
usable for extended periods of time. While CPGs represent a market that will always have
consumers, it is highly competitive due to high market saturation and low consumer switching
costs. Global market forces are driving the continual evolution of the food and beverage
industry
18
Mission
* We provide work environments where our employees can meet their potential and
thrive in an atmosphere of excellence.
* We strive to be the industry standard in service to customers.
* We maintain a superior level of integrity in interactions with business partners and
associates.
* We appreciate our achieved success and we conduct our business as model corporate
citizens.
* To develop, manufacture and market high quality and innovative products for their
consumers through efficient use of their resources and in partnership with their
customers.
Vision
It will enhance its world leadership in confectionary by creating value for people
through delightful and imaginative high quality products.
PRODUCTS
COMPANY MANUFACTURING PRODUCTS:
FACTORIES
Nellikuppam
Chennai
19
CHAPTER-II
REVIEW OF LITERATURE
20
REVIEW OF LITERATURE
NAME: NARASIMANRAJ N
YEAR: 2014
FINDINGS: It is observed that motivation, from the management side results in Employee
satisfaction.
NAME: KARTHIK K
YEAR: 2010
FINDINGS: Employees in this organization are highly satisfied due to brand image,
Emotional motivation and financial motivation.
21
OBJECTIVES, SCOPE,
OF STUDY
22
OBJECTIVES OF THE STUDY
PRIMARY OBJECTIVES:
To find out the overall employees satisfaction in Lotte India Corporation Ltd, Chennai.
SECONDARY OBJECTIVES:
To identify the factors that influences the satisfaction of employees.
To analyze the relationship between factors and job satisfaction as an outcome variable.
To analyze the factors with respect to demographic variable such as age, income,
experience, department.
23
NEED FOR THE STUDY
The performance of the company will lead to the enhancement of the company and as well
as the Employee as an individual.
It helps in providing company with the details and factors that they need to improve to have
bonding with the employee in order to satisfy them more to perform on the work.
24
SCOPE OF THE STUDY:
To improve the standard of living, environment in the company. so that the employee
will be healthy and motivated to perform well and good.
It is not only helps the organization in knowing the places where they need to improve
to satisfy the employees but also to motivate the employee to perform better and gain
benefits from the organization for their achievements
25
LIMTATIONS OF THE STUDY
The questionnaire was not distributed personally, instead received the questionnaire from
the HR due to the time constraints of the employees during work.
Since the questionnaire was not distributed personally, it is not sure that the answers are
biased or of one’s own view about the questions mentioned.
It may not be accurate about the choice of answers provided by the respondent due to their
personal rivalries.
26
CHAPTER-III
RESEARCH
METHODOLOGY
27
MEANING OF RESEARCH
“Research means a search for knowledge”, sometimes it may refer to systematic search
pertaining to information on specific topic in fact research is an art of systematic investigation.
Redman and Moray defines research as “systemized effort to gain new knowledge. Some
consider research is a movement from the known to the unknown”. It is actually a voyage of
discovery. According to Clifford Woodly, research comprises, “Defining and redefining
problem formation of hypothesis or suggestion solution, collecting, organizing and evaluating
data make decision and reaching conclusion and at last carefully test the conclusion to
determine whether they fit the formulated hypothesis”.
Research is thus an original contribution to the existing stock of knowledge making for its
advertisement. In short the search for knowledge through objectives and systematic method
consisting of enunciating the problem, formulating the hypothesis, collecting the fact or data,
analyzing the fact and reaching certain conclusion either in the form of solution towards the
concerned problem or in certain generalization for some theoretical formulation.
RESEARCH DESIGN
A research design is purely and simply the frame work or plan for a study that guides the
collection and analysis of the data. It is a blue print that is followed in completing a study. The
research design specifies the methods, data collection and data analysis.
28
SAMPLING DESIGN
Population
Total number of members working in LOTTE is 85.
Sample
A sample is a group of measurements selected from a population for analysis.
Sample Size
This refers to the number of items to be selected from the universe to constitute a sample. Non
probability sampling method is used in selecting the sample size for the study. The sample size
taken for the current study is 50 employees in Lotte India Corporation Limited, Chennai.
Sampling Technique
The Convenience sampling used for this research. It attempts to obtain a sample of convenient
elements. Often, respondents are selected because they happen to be in the right place at the
right time.
29
METHODS OF DATA COLLECTION
SOURCES OF DATA
Data sources refer to various means through which data is collected. Data could be
primarily classified as
Primary data
Secondary data
PRIMARY DATA
It is the data collected for the first time through survey. It is collected with a specific set of
objectives to assess the current status of variable studied. In short primary data is the original
data collected by the researcher first hand. Primary data has been collected for this study. As
this is descriptive research, surveys were performed. The primary data used for this study is
questionnaire.
SECONDARY DATA
It refers to the information or facts already collected either published or unpublished. It is used
for collecting historical data. The tools used to collect the required secondary data are made
through Journals, Magazines, and Internet and other books.
DATA ANALYSIS
DESCRIPTIVE ANALYSIS
Descriptive analysis includes survey and fact- finding enquires of different kinds. The main
characteristics of this method are that the researcher has no control over the variables; where
they can only report what has happened or what is happening.
30
STATISTICAL TOOLS USED
Frequency
The frequency of an event is the number of times the event occurred in an experiment or study.
These frequencies are often graphically represented in histograms. Frequency analysis is the
method which is used for finding the average of collected information. First the number of
respondents is noted in a tabular form and then the percentage is calculated by dividing the
number of respondents by total number of respondents which is then multiplied by 100.
31
CHAPTER-IV
INTERRETATION
32
4.1 Table showing age – wise distribution of respondents
No. of
Age Percentage
respondent
20-30 20 40
31-40 13 26
41-50 9 18
Above 50 8 16
TOTAL 50 100
40
35
30
25
No.of respondent
20
Percentage
15
10
5
0
20-30 31-40 41-50 Above 50
Inference:
Out of total 50 respondents 40% are 20-30 years, 26% are 31-40 years, 18%
are 41-50 years, and 16% are above 50 years.
33
4.2 Table showing experience wise distribution of respondents
No. of
Work experience Percentage
respondent
0-5 years 12 24
6-10 years 16 32
11-15 years 13 26
Above 15 years 9 18
TOTAL 50 100
35
30
25
20
No.of respondent
15
Percentage
10
5
0
0-5 years 6-10 years 11-15 yearsAbove 15 years
Inference:
Out of total 50 respondents 24% are experienced for 0-5 years, 32% are 6-10 years, 26% are
11-15 years, and 18% are above 15 years.
34
4.3 Table showing superior gives freedom of respondents
No. of
Regarding superior give freedom Percentage
respondent
Very often 26 52
Often 5 10
Occasionally 6 12
Not at all 13 26
TOTAL 50 100
60
50
40
30 No.of respondent
Percentage
20
10
0
Very often Often Occasionally Not at all
Inference
Out of total 50 respondents 52% are giving freedom very often ,10% are often giving
freedom,12% are occasionally give freedom, 26% are not at all giving freedom.
35
4.4 Table showing Organization Work Culture of respondents
No. of
Organization Work Culture Percentage
respondent
Excellent 20 40
Improving 12 24
Motivating 9 18
Boring 9 18
TOTAL 50 100
50
40
30
No.of respondent
20
Percentage
10
0
Excellent Improving Motivating Boring
Inference:
Out of total 50 respondents 40% are excellent in work culture, 24% are
improving, 18% are motivating, and 18% are boring in work culture.
36
4.5 Table showing financial motivational factor of respondents
No. of
Regarding financial motivational factor Percentage
respondent
Bonus 8 16
Incentives 6 12
Allowances 26 52
TOTAL 50 100
50
40
30
No.of respondent
20
Percentage
10
0
Bonus Incentives Performance Allowances
based
incentives
Inference:
Out of total 50 respondents 16% are giving bonus for motivational factor, 12% are giving by
incentives, 20% are giving by performance based incentives, and 52% are giving by
allowances.
37
4.6 Table showing permit to take leave of respondents
No. of
Regarding permit to take leave Percentage
respondent
Monthly once 12 24
Monthly twice 15 30
Not allowed 13 26
TOTAL 50 100
35
30
25
20
No.of respondent
15
Percentage
10
0
Monthly once Monthly twice More than Not allowed
twice
Inference:
Out of 50 respondents 24%are permitted to take leave on monthly once, 30% are taking leave
on monthly twice, 20% are taking leave by more than twice, 26% are not permitted to take
leave.
38
4.7 Table showing Coordination between the workers
No. of
Co ordination between the workers Percentage
respondent
Good 10 20
Average 20 40
Poor 20 40
TOTAL 50 100
45
40
35
30
25
No.of respondent
20
Percentage
15
10
0
Good Average Poor
Inference:
Out of 50 respondents 20% are good for workers co-ordination, 40% are average for the
workers, and 40% are poor for co-coordinating the workers.
39
4.8 Table showing Labor machines various supporting depts. of respondents
No. of
Labor machines various supporting depts. Percentage
respondent
Good 20 40
Average 10 20
Poor 20 40
TOTAL 50 100
45
40
35
30
25
No.of respondent
20
Percentage
15
10
0
Good Average Poor
Inference:
Out of 50 respondents 40% are good for labor machines, 20% are average on labor machines,
and 40% are poor for labor machines.
40
4.9 Table showing factors implemented by the organization
No. of
Factors implemented by the organization Percentage
respondent
Financial Motivation 28 56
Non-financial motivation 10 20
Both 12 24
TOTAL 50 100
60
50
40
30 No.of respondent
Percentage
20
10
0
Financial Non-financial Both
Motivation motivation
Inference:
41
4.10 Table showing training increase in productivity job of respondents
Strongly agree 11 22
Agree 15 30
Disagree 7 14
Strongly disagree 1 2
TOTAL 50 100
35
30
25
20
No.of respondent
15
Percentage
10
0
Strongly agree Agree Neither agree Disagree Strongly
nor disagree disagree
Inference:
42
4.11 Table showing health & safety measures of respondents
No. of
Regarding health & safety measures Percentage
respondent
Highly Satisfied 10 20
Satisfied 23 46
Neutral 6 12
Dissatisfied 6 12
Highly dissatisfied 5 10
50 100
50
40
30
No.of respondent
20
Percentage
10
0
Highly Satisfied Neutral Dissatisfied Highly
Satisfied dissatisfied
Inference:
From the above, we come to know that 20% are highly satisfied with health & safety measures,
46% are satisfied, 12% were neutral, 12% said they are dissatisfied & 10% are highly
dissatisfied with the health & safety measures.
43
4.12 Table showing rules & regulations of respondents
No. of
Regarding rules & regulations Percentage
respondent
Highly Satisfied 15 30
Satisfied 18 36
Neutral 14 28
Dissatisfied 3 6
Highly dissatisfied 0 0
TOTAL 50 100
50
45
40
35
30
25 No.of respondent
20
Percentage
15
10
5
0
Highly Satisfied Neutral Dissatisfied Highly
Satisfied dissatisfied
Inference:
From the above, we come to know that Out of 50 respondents, 30% highly satisfied with the
rules & regulations, 36% of the respondents were satisfied with the rules & regulations, 28%
were neutral with the rules & regulations, 6% were dissatisfied with the rules & regulations.
44
4.13 Table showing decision making process of respondents
No. of
Regarding decision making process Percentage
respondent
Rarely 15 30
Occasionally 10 20
Frequently 10 20
Very Often 15 30
TOTAL 50 100
35
30
25
20
No.of respondent
15
Percentage
10
5
0
Rarely Occasionally Frequently Very Often
Inference:
45
CHAPTER-V
FINDINGS, SUGGESTIONS
AND CONCLUSION
46
FINDINGS
This study found that, the majority of the respondents 40% are between 20-30years of
age.
This study found that 28% of the respondents receive their income at the range of
20,000-30,000.
This study found that 52% of the respondents regarding superior give freedom to 26
employee in very often
This study found that 32% of the total respondents have 6-10years.
This study found that it is clear that 56% of the employees are male.
This study found that it is clear that 32% people are respondents in 6-10 years
This study found that it is clear that 40% people are respondent’s excellent organization
Work Culture.
This study found that it is clear that 52% people are satisfied by allowance in regarding
financial motivational factor
This study found that it is clear that 40% employees are respondents for coordinating
between in organization
This study found that it is clear that 36% employees are satisfied for rules and
regulations.
This study found that it is clear that 56% employees are respondents for financial
motivation in origination
This study found that it is clear that 30% employees are respondents for decision
making process in rarely.
This study found that it is clear that 30% employees are respondents for taking leave
permission in monthly once.
This study found that it is clear that 46% employees are satisfied for health and safety
measure in organization
This study found that it is clear that 30% employees are agreeing to proper training in
organization.
47
SUGGESTIONS
The company may provide more training programs and conduct workshops for the
employees. For e.g. they would like to be trained in making presentations and attending
programs related to their job. This will improve the efficiency in their work.
The management may take steps to improve the canteen facilities of the concern. The
employee’s level of satisfaction might depend even on this factor.
Since the level of motivation may decrease due to monotony of work. The company
may allow the employees for job rotation in order to make their job more interesting
and have a better and clear understanding of companies business.
These suggestions are given only for the people who are get dissatisfied with their job
in the organization.
48
CONCLUSION
People are the most valuable asset of the organization. Only when employees are
treated well they respond with enthusiasm. The objective of this project to know the
employees job satisfaction level the study also deal with the job nature, environment of
work, various facilities offered by the company to the employees.
Most of the employees are satisfied with their job, the company by handling grievance
time improving the work environment and motivating the employees can improve the
overall job satisfaction of the employees. The study will help the organization to
introduce reward and recognition program to improve the job satisfaction, because
rewarding the people who is doing a good job on timely manner will improve employee
motivation level. This study will provide a stress free work environment to employees
which will improve the job satisfaction of the employees.
49
BIBLIOGRAPHY
BOOKS
2. Dr. Anitha. R, A Study on job satisfaction of paper mill employees with special
reference to udmalpet and palani taluk, Sasi Creative School of Management,Year
2011.
3. Ahmed Bako Abdulrahman, The Positive and Negative Effects of Job Satisfaction on
Employee’s Performance in an Organization, International Business College, Shenyang
Univerity, 2002.
4. M.D. Pushpakumari, The Impact of Job Satisfaction on Job Performance: An Empirical
Analysis, 2005.
5. Research Methodology, “second edition, published by v.s. johri for vishwa prakashan,
delhi” by c.r.kothari.
6. Singhal, s. “measurement of job satisfaction on three dimensional plane, Indian journal
on industrial relations.
7. Shagufta Sarwar And James Abugre, The Influence of Rewards and Job Satisfaction
on Employees in the Service Industry, Swansea University, Wales, UK on 2007.
WEBSITES
www.scribd.com
www.lotteindia.com
50
ANNEXURE
QUESTIONNAIRE
I. DEMOGRAPHICS:
I. Name: _________________________________
ii. Age:
a) 18-25 b) 26-35 c) 36-45 d) above 45
iii. Experience:
a) Below 3yrs b) 4-6yrs c) 7-10yrs d) 10yrs and above
iv. Monthly Income:
a) Below 10000 b) Bet 10001-20000 c) Bet 20001-30000 d) Above 30000
v. Educational Background:
a) Uneducated b) SSLC/HSC c) Diploma/ITI d) UG e) PG
f) Others, please specify _________________________________
a) Yes b) no
51
6. Are you satisfied with the salary and the hike provided to you in the company?
e) Highly dissatisfied
7. Are you satisfied with the STRESS RELIEVING programs conducted by the company?
e) Highly dissatisfied
8. Are you satisfied with the appreciation and recognition for your excellence?
c) Neutral d) Dissatisfied
e) Highly dissatisfied
a) Yes b) no
10. Do you experience personal growth such as updating skills and learning different jobs?
a) Yes b) no
e) Highly dissatisfied
a) Yes b) no
12. Are you satisfied with the recreation programs conducted by the company like chess, carom
etc?
e) Highly dissatisfied
52