• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month
  1. 1
  2. 2
  3. 3
  4. 4
  5. 5
  6. 6
  7. 7
  8. 8
  9. 9
  10. 10
  11. 11
  12. 12
  13. 13
  14. 14
  15. 15
  16. 16
  17. 17
  18. 18
  19. 19
  20. 20
  21. 21
  22. 22
  23. 23
  24. 24
  25. 25
  26. 26
  27. 27

What non financial motivations can Ocean Exim India Pvt. Ltd. use to increase labor productivity and decrease labor turnover?

Extracts from this document...


HL Business and Management IA What non financial motivations can Ocean Exim India Pvt. Ltd. use to increase labor productivity and decrease labor turnover? Name : Bhuvnesh Gupta Main Essay : 2,665 Executive Summary : 285 Research Proposal : 667 Acknowledgements I would like to thank and acknowledge: - Anvita Mam- for her assistance in helping me with this report - Mr. R.N. Gupta- for his time for the interview - Mr. K Mittal- for his contribution to this report and time for the interview - Mr. Ashish Khandelwal- for typing the questionnaire in another language. Executive Summary The research identifies the non financial motivators of Ocean Exim India Pvt. Ltd., one of the leading export houses in Jaipur. These non financial motivators helped the company to increase its labor productivity and decrease its labor turnover rate which resulted in an increased efficiency of the company. Due to recent economic crisis, Ocean Exim has faced a serious threat. Ocean Exim primarily exports to USA and due to dollar weakening and inflation the cost of production has increased and profit margin had decreased. It is of vital importance for the company to maintain its goodwill and efficiency in the market or else they will face severe business losses. To achieve this, company required a strong team and here non financial motivators helped the company to motivate its employees. The research starts with the introduction about the firm which portrays the company's background. Interview with the managing director of Ocean Exim and survey through questionnaire acted as the main source of primary information. Organizational structure and the motivational strategies used by the company were mentioned in order to find out the exact motivation required in each field. Main results, recommendations and conclusions were based on the analytical tool like SWOT analysis, motivational theories and business tools like surveys and interview. Analysis and recommendations appears to be quite beneficial for Ocean Exim, as they helped the firm to identify there problems and also helped to firm in plotting there the future line of action to get over this problem. ...read more.


All the workers are given extra holiday when the work load is less. ? A staff party is organized for the labor every year With the ineffective non-financial motivators the company is facing a major problem of low labor productivity and high labor turnover. ________________________________________Survey Analysis Two surveys were conducted separately in the factory unit of Ocean Exim India Pvt. Ltd., Jaipur. First survey was conducted on 25th July, 2008. It was an anonymous survey, so that the results obtained can depict the true picture. However, another survey was conducted after a few days as the prior survey findings were considered incomplete and non reliable. The new survey was translated in the local language, Hindi, and was explained to all workers and labors in detail. The survey was filled by 50 workers of the firm, including skilled and un-skilled labors. The data obtained from the prepared questionnaire3 gave a better insight of the problem faced by the workers. Moreover, the survey findings were indicators of the areas in which the company could motivate their workers and thereby increase their productivity, benefiting both the company and the workers, simultaneously. Survey Findings: Survey helped me in understanding the problems faced by the employees, here are some important findings which became an important part of my evaluation process. 1.3 Figure 1.3 shows that there are very few employees who are associated with the firm from a very long time. This shows the increased labor turnover of the firm. 1.4 Majority of the employees felt that the interaction is very well appreciated but they also felt that it was rare. Frequent interaction would help the firm in boosting up there morale and hence motivating them to work more efficiently. 1.5 This question cleared the fact that one of the main reason for decrease in labor productivity and increase in labor turnover is that the senior management does not give the employees ample amount of time to listen to there personal problem, it could be regarding other employees or some other problems. ...read more.


Every information gained will be remain confidential and will not be leaked Please answer the entire questionnaire. 1. For how many years have you been associated with the firm? ? 0-1 year ? 1-5 years ? 5-10 years ? More than 10 years 2. How often have you been appreciated for your work? ? Very often ? Sometimes ? Rarely ? Never 3. Are you satisfied with the remuneration given by your firm? ? Fully Satisfied ? Somewhat Satisfied ? Not Satisfied ? Highly Unsatisfied 4. How well is your interaction with the management of the firm? ? Frequent, Informal & Well appreciated ? Rare, Informal & Well appreciated ? Frequent, Formal & Not appreciated ? Rare, Formal & Not appreciated 5. According to you, what is the strongest aspect of your firm? ? Pleasant Work Culture ? Excellent interaction with the higher management ? Appropriate appreciation ? Good compensation packages 6. If given the responsibility what would be the first thing you would like to change in firm to improve the work culture? ? More meetings with senior managers ? Suggestion Box ? Separate time with management for personal problems. 7. If you had an option to choose from any of the 3 options given below which you would choose. ? More Holidays ? Increased Pay ? More Opportunities 8. Does your company provide further training to the current employees in their respective field? ? At regular intervals ? Sometimes ? Rarely ? No such opportunity 9. Which do you think is most important facility that is provided to you by the firm? ? Cafeteria ? Medical Insurance ? Schooling for your children ? Pension scheme 10. Any thing you would like to add in the firm? ? Water coolers at various places ? Medical Insurance ? Replacement of any senior staff ? New & modern machines Appendix 4 Organizational Structure of Ocean Exim India Pvt. Ltd. 1 Appendix 2 (SWOT Analysis: Threat) 2 Figure 1.3 Survey Findings 3 Appendix 3: Survey Questionnaire ?? ?? ?? ?? 8 ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our International Baccalaureate Business Studies section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related International Baccalaureate Business Studies essays

  1. HRM - how Marks and Spencer motivate their staff.

    It helps them to evaluate the skills of the employees based on the information collected at the appraisal, it helps recognise when training is needed. It helps the relationship between the workers and the company. Senior directors and managers hold a meeting every 12months among workers to discuss the development

  2. Project Management - planning an all inclusive carnival concert in the North Western end ...

    4. Lawrence Biran- Is in charge of organising the live performers, entertainment, music set-up and stage, equipment and lighting. Deadline Reana Singh- to deliver final project- 3rd /6/2011 Anisa Jagdin- deadline date for Decorations ,Caterers, Bar and Toilets - 30th /5/2011 Alicia Biran- Venue and Advertising- 19th /5/2011 which is before

  1. Case Study - Recovery Kitchens Ltd

    - Business Resources - Recovery Kitchens Ltd may not have enough financial resources in order to produce the kitchens that their target market want. The external factors that may affect Recovery Kitchens Ltd come from outside the business. Possible external factors are: - Environment - Wood may be scarce so

  2. The Main advantages and disadvantages of mixed economy system

    French economy also continues to grow, even despite its temps have decreased. GDP growth level in 2008remained the same as in 2007 (2.1%) and the same is with inflation rate, which was 1.5% in 2008. Unemployment rate also decreased by 0.8% in year 2008.

  1. Business plan for Laundry Toaster laundry dryer.

    Our printed ads will attract attention through a truly arresting headline and visual element. It will appeal to the reader's self-interest or announce news. It will communicate our company's unique advantage and it will prove our advantage over our competitor.

  2. Business and Management IA Research Proposal -How Should Afrisians Ginning Limited reduce the increased ...

    Talk to farmers- Ask them about the fear in commodity prices and why they are inconsistent? Sales Manager and Production manager- How do they find farmers? How is the production of the crops affected in Mwanza in detail. Local people in Mwanza: How much effect AGL has in provision of employment to local people in Mwanza?

  1. Ford Company Analysis - corporate structure and financial analysis

    Evaluating, monitoring and making recommendations to the Board with respect to the corporate governance policies and procedures of the company. 1.6 Charter of the Sustainability Committee The Sustainability Committee provides assistance to the Board of Directors of the company to fulfill its responsibility to the shareholders in respect of its

  2. SWOT Analysis of Apollo Language School, Vietnam.

    English for young learners, English for junior) which is Apollo?s main target => They have more experience, quality than other English Learning Center for this segment => Parents will let their children study there because they believe that Apollo could offer advanced education for their kids => Goal: Develop better programs and lectures for children + Apollo

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work