Summer Training Report

SUMMER TRAINING REPORT

ON

TRAINING AND DEVELOPMENTTraining undertaken at OZONE LTD, Sco-35, Sec 11-DFaridabad-121006 SUBMITTED TO MD UNIVERSITY, ROHTAK

IN PARTIAL FULFILLMENT OF THE REQUIREMENT FOR THE AWARD DEGREE OF

Bachelor of Business Administration (BBA)

SESSION: 2012-2013 Submitted by: Parveen Sharma BBA 5TH SEMESTER

ROLL NO. 10-084

UNDER THE SUPERVISION OF:-

1. Ms. SHILPA GOEL 2. MANISH AGGARWALHOD. BBA (MANAGER MARKETING)

OZONE LTD.

AGGARWAL COLLEGE BALLABGARH

(AFFILIATED TO M.D. UNIVERSITY, ROHTAK) ACKNOWLEDGEMENTSThis study would not have been possible without the cooperation of and generous help from a number of people. While it may not be possible for me to express my gratitude to all of them individually, I wish to place on my record my appreciation to them for all the help they extended to me during the project.

I am extremely thankful to Mr. MANISH AGGARWAL for his support and guidance to complete this project.Report was completed successfully because of the grace of the god and the blessings of my parents.

(Parveen Sharma)

PREFACENo professional curriculum is considered complete without work experience. Every individual who is doing management studies has to undergo this phase of practical study before he/she can consider himself/herself fully qualified as potential manager.

I got an opportunity to do training with OZONE Ltd. I undertake the training in my 5th semester, on TRAINING AND DEVELOPMENT (HR) of OZONE LTD. The basic aim of my study was to know how to deal with staff & how I can make better relation with them.

People affiliated with management studies have a different view on this aspect of management that classroom studies have nothing to do with practical work. But during my research I realized that a training report plays a crucial part as it prepares a student for the impending responsibility that awaits him/her in the future. It integrates the theoretical aspects with the practical life and helps in understanding business solutions in a better manner.

(Parveen Sharma)

TABLE OF CONTENTS

LIST OF TABLES

LIST OF FIGURESCHAPTERISATIONS PAGE NO.

CHAPER-1 INTRODUCTION

OBJECTIVES OF THE STUDY

SCOPE OF THE STUDY

RESEARCH METHODOLOGY

CHAPTER-2 REVIEW OF LITERATURECHAPTER-3 COMPANY PROFILECHAPTER-4 DATA ANALYSIS AND

INTERPRETATIONSCHAPTER-5 RECOMMENDATIONS AND

CONCLUSIONS

BIBLIOGRAPHYANNEXURE

LIST OF TABLESSR. NO.TABLE NO. TABLE NAME PAGE NO.

1Table 4.1

2Table 4.2

3Table 4.3

4Table 4.4

5Table 4.5

6Table 4.6

7Table 4.7

8Table 4.8

9Table 4.9

10Table 4.10

11Table 4.11

12Table 4.12

(i)LIST OF FIGURES

SR.NO.FIGURE NO. FIGURE NAME PAGE NO.

1Figure 4.1

2Figure 4.2

3Figure 4.3

4Figure 4.4

5Figure 4.5

6Figure 4.6

7Figure 4.7

8Figure 4.8

9Figure 4.9

10Figure 4.10

11Figure 4.11

12Figure 4.12

(ii)CHAPTER-1

INTRODUCTION

OBJECTIVES OF THE STUDY

SCOPE OF THE STUDY

RESEARCH METHODOLOGY

OBJECTIVES OF THE STUDYEvery study has certain objective. There is no study without objective because objectives are the purpose of study. There are two types of objectives:

Primary Objectives To understand the prevailing trends of training and development at OZONE LTD.Secondary Objectives To study the effectiveness of training and development performance of the employees. To suggest ways to improve training and development methods bring out a positive attitude.

To get more knowledge about the company. To study the global training standards. To study the training need analysis used in different employment context.

SCOPE OF THE STUDYThe training is an organized activity for increasing the technical knowledge and learns new skills to do specific jobs efficiently. Training is equally important for the existing as well as new employees. It enables the new employee to get acquainted with their jobs and also increase the job-related knowledge and skills. The study will help increase the performance levels of employee in the organization. It will help to know about the quality of the products so that the image can be increased. Training & development measure the level of satisfaction of employees with respect to the company.RESEARCH METHODOLOGY

Meaning Research is a systematized effort to gain new knowledge. It is a systematic study consisting of a problem formulating a hypothesis collecting the facts and data, analyzing the facts and reaching for certain conclusions, which can be in the form of either solution towards a problem.Research design A research design is the 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. The research design used in my study is basically descriptive in nature.

Types of research Exploratory research

Descriptive research

Causal research

Applied research

Basic research

Exploratory research Exploratory studies are conducted to clarify the ambiguous problems. Ambiguity means that the nature of problem to be solved is unclear.

Descriptive research The research design in my study is descriptive. Its studies are concern with describing the characteristics of a particular group or individual. Studies concerned with specific prediction with narration of facts and characteristics concerning individual, group or situations are examples of descriptive research .it is also known as social research.

Causal research The mean purpose of causal research is to identify the cause and effect relationship between variables.

Applied research Applied research is conducted when a decision is to be made about a specific real-like problem.

Basic research Basic or pure research (fundamental research) attempts to expand the limits of knowledge.

Sample Design

A sample design is a definite plan for obtaining a sample from a given population. It refers to the technique or the procedure the researcher would adopt in selecting items for the sample i.e. the size of the sample. Stratified sample method is adopted to select the sample.

Sample Size It includes the number of sampling unit selected from the population for investigation. The sample size must be optimum or adequate. If the sample size is small it may not appropriately represent the population.

Too large sample would be costly in terms of money &time. The optimum sampling size would fulfill the requirements of efficiency, representativeness, reliability, and flexibility.

The sample size is taken of 100 employees. It is because of the shortage of time & their busy schedule.METHODS OF DATA COLLECTION Data collection is an art. Sometime it is very time consuming affair. The source information falls under two categories: Primary Data Secondary DataPrimary data Primary data is collected through various methods: Observation method Interview method Schedules & Questionnaire method Internet

Advantages Simplicity

Direct and realistic study

Useful for formulating

Greater accuracy

Results are more dependableDisadvantages Not possible to remain present Not possible because a schedule events may not take place Not possible on account of the long durationI have used face to face interview method to collect primary data.

Secondary Data The secondary data means data that are already available in various reports, diaries, letters, books, etc. Life history, diaries, autobiographies, letters and testaments.

Reports published by various Research Organizations.Advantages More flexible

It is perfect sample of the general population

Controlled which person will answer the question

Disadvantages Uneconomical

Emotionalism

Personal biasLIMITATIONS OF THE STUDYWith the proper due cares this study has been conducted but it consists of some of its limitations also which are as follows:

Sample size was small i.e. 100 The time limit is also one of the major constraints in conducting study.

Biases may creep in the information given by the respondents.

Main root of this research study was questionnaire & interview, which has its own limitations, for example we cant measure the reliability, enthusiasm dissonance etc. A budget constraint is an accounting identity that describe describes the consumption option available agent with a limited income (or wealth) to allocate among various goods.CHAPTER-2

REVIEW OF LITERATURE

Definition of training According to Michael J. Jucius, defines, The term training is used here to indicate only process by which the aptitudes, skills and abilities of employees to perform specific jobs are increased. According to Edwin B. Flippo defines, Training is an act of increasing the knowledge and skills of an employ for performing a particular job. Training enables an employ to do his present job more efficiently and prepare him for higher level job.

A Trainee learns new habits, refined skills and useful knowledge during the training that helps to improve the performance.

Training is practice based and company specific.

Training objectives should be set in terms of changes needed in behavior and performance.How training helpful Increase knowledge and skills for doing a particular job. Focuses attention on the current job.

Concentrates on individual employees, changing what employees know-how they work, their attitude towards their work on their interaction with their co-workers.

Tends to be more narrowly focused and oriented towards short term performance concerns.

Training is job oriented.

Training is one shot deal.

Training seeks to meet the current requirements of the job and the individual.

Training is mostly the result of initiatives taken by management.Needs for training Newly recruited employees require training so as to perform their task effectively.

Training is necessary to prepare existing employees for higher level jobs (promotion).

Training is necessary when a person moves from one job to another (transfer).

Training is necessary to make employees mobile and versatile.

Training is needed to make employees more productive and useful in the long-run.

Training is necessary for solving operational problem.Major Values of training in OZONE LTD.

Increase in productivity.

Better and economically use of resources.

Reduced Supervision.

Fill manpower needs.

Increasing organizational stability and flexibility.

Better management.

Reduced learning timeTHEORY OF TRAINING

Training is a learning experience in that it seeks a relatively permanent change in an individual that will improve his/her ability to perform on the job. We typically say training can involve the changing of skills, knowledge, attitudes or social behavior. It may mean changing employees, how they work, and their attitudes toward their work of their interaction with their co-workers or supervisors. The essential elements in any commercial enterprise are materials, equipment and human resource. Training allied to the other human resource specializations within management, ensures a pool of manpower of the required level~ of expertise at the right time. But firstly consider the attention given by an average organization to the provision of materials, machinery and equipment. Then compare the commitment to the third essential factor in then production cycle, via: human resources. One of the most important factors in his regard is the traditional view of training and trainers. They are seen as an expense, a service, as second rate to production or as a necessary evil. Training has tended to fall behind other management activities, especially in the planning phase. It is often carried out as a reaction to immediate needs, a patch up operation in many cases, instead of an ordered activity. Training and Development is especially designed to enhance the competency of managers and workers dealing with a variety of organizational functions. Training and Development is a process through which the goals of management development can be achieved. Investment in Training and Development has come to be considered as an asset for organizational development or in other words, Training is indispensable for effective organizational development. Earlier, training was almost exclusively trainer Ozone ltd and it was not need based. The trainer (training institute) determined the objectives of the course, its duration, its contents and format etc. On many occasions training was of a pedagogic nature with the trainer in complete control of the direction of the training. Moreover, the alignment of the corporate goal was missing. The views of the trainees were rarely sought or even if they were, it was with a condescending attitude. Due to all these reasons the bottom-line contribution of training or the organizational development was less.

All employees are expected to participate in company sponsored training programs considered necessary for enhancing their work skills. We realize that in todays constantly changing environment, our services have to be better than those of our competitors. Therefore, training opportunities are offered through specialized training programs conducted by in-house instructors, instructors from the industry, or by experts in the field.

Training Need Assessment

The Human Resources Department in consultation with the individual, his/her supervisor and the Head/Chief of the department assess training needs. The performance management system as well as feedback by employees across the organization is used for collaborating the training needs.

Training Calendar

A Training Calendar is prepared and circulated at the beginning of the year. This carries details about the training programs that will be conducted during the course of the year. In-hour and external training are held on behavioral as well as specific job related skills.

Training Evaluations

Training programs are evaluated by Human Resources regularly to ascertain the value being added to the employees.

Managers nominate employees for training. Attendance at the training classes is obligatory. You are encouraged to make the best use of these opportunities provided by the company to enhance your professional skills. Training records will be maintained in the Personal File of each employee, for review at any time.

Training objectives and strategies Having identified the training needs based on the various analyses discussed above, the next logical steps are to set training objectives in concrete terms and to decide on the training strategies to be adopted to meet these objectives. The training needs basically highlight the gap between the existing and desired repertoire of knowledge attitude and skills at individual, group and organizational level to enable the employees to contribute towards the realization of organizational objectives at optimum efficiency. The training effort thus will have to aim at filling in this gap by clearly stating the objectives in quantitative and qualitative terms to be achieved through training. Such an exercise will also enable the training specialists to evaluate, monitor and measure the extent to which stated objectives have been met through training intervention. As the training objectives are related to organizational objectives, the involvement of the top management will be necessary to ensure that the two sets of objectives are integrated.

It will be desirable to use the following criteria in setting training objectives Specific requirements of individuals and organizations so as to achieve integration of the two.

Roles and tasks to be carried out by the target group.

Relationship with other positions vertically and horizontally and technological imperatives.

Relevance, applicability and compatibility of training to work situations.

Training as a means of bringing about a change in behavior back on the job.

Behavior including activities that can be observed, measured and/or recorded

The expected change in behavior must be useful, closely related to and subject to maintenance in the work environment.

More specifically the following steps could be involved in setting training objectives Identification of the behavior where change is required.

Nature and size of the group to be trained in terms of prior training, situational factors, formal education.

Existing behavior defined in terms of ratio, frequency, quality of interaction and supervision, routines and repetitiveness, innovations, omissions, error, etc.

Desired behavior aimed at improving the existing condition stated preferably in quantitative such as ratio, frequency of occurrence, reporting by exceptions, self-monitoring mechanisms etc.

Operational results to be achieved through training stated in terms of increase in efficiency and effectiveness criteria such as productivity, cost, down time, turnover, time for innovations and creativity.

Indicators to be used in determining changes from existing to the desired level in terms of ratio and frequency.

Depending on the objectives set, the next step is to decide on the strategy of training involving the following:

Classification of objectives in terms of purposes: Corrective objectives

Maintenance/status-quo objectives

Problem solving objectives, and

Innovative objectives.Classification of objectives in terms of levels of learning Skills of motor responses, memorization and simple conditioning.

Adaptation level where one is gaining knowledge or adapting to a simple environment;

Interpersonal understanding and skill. Values of individuals and groups.

On-the-job or off-the job training.

In house or external training.

Individual or group training.

Horizontal, vertical or diagonal/mixed group.

Changes required, if any, in the existing work roles, organizational relationships, work system requirements, process of supervision and alternative structures.HOW TO BE CREATIVE?Postpone judgments: Dont reject any idea

Create alternative frames of references

Break the boundary of thinking

Examine the different aspect of the problem

Specify that resources and environment

Make a wish-list of solutions

Borrow ideas from other fields

Look for the processes to change or eliminate

Think up alternative methods

Adopt another persons perspective

Question all assumptionsTRAINING NEEDSOrganizational

- Identified through the corporate MBO serious. It gives the necessary information, regarding the gaps which prevails Individual

Manager Personnel Operative Personnel-

Training needs identified through employees merit rating system

External Training

-Exposure approved by divisional director and monitored by corporate training and development manager Internal Training- Needs identified through appraisal system, and program monitored by corporate training and development manager.

TYPES OF TRAINING METHODS

The training methods which are generally used in an organization are classified into two i.e.

a) On the job

The most important type of training is on the job training. The experience of actually doing something makes a lasting impression and has a reality that other types of training cannot provide. There are several types of training program which make use of on-the-job training concept which are as follows:

Job Rotation

Internship training

Apprenticeshipb) Off the jobThis is a type of training which is imparted to the employees through education programs, simulators and training aids etc. The off the job training includes the following:

Case study method Incident method Management Games Role playing SeminarsTraining, as a process of long tem learning is essentially a developmental tool. Through, effectively utilizing this tool, the organization expects to achieve career objectives.

Sensitize employees towards their role in achieving the organizational vision of Leadership through Differentiation.

Contribute towards the career progressions of the employees by importing knowledge of an additional or reinforcing nature, developing skills and bringing about desired attitudinal changes among them. This would not merely prove effective in assisting them to achieve organizational goals but also enable enhancement of their self esteem and self confidences to face external challenges.

Ours is changing and dynamic organizations which have to pay considerable emphasis on training and retraining its employees to enable them to be competent committed and have the capacity to change according to the external and internal demands and pressures.

Training of employees is not merely the responsibility of the management or the training cell alone, but the responsibility of department managers as well. Accordingly, the human resource department must enable their involvement in the process of employee training and development.

Training stepsThere are four basic steps in carrying out the training function:

Assessment of Training needs (A)

Designing the training action plan (B)

Administration of training (C)

Retraining and Reinforcement of training (D).

(A) Assessment of training needs

There are five steps towards the assessment and analysis of training and development of the organization.

Collection of information through interviewing and discussing with key personnel both inside and outside the organization or specific departments; observing the work place, working conditions, processes and outcomes; examining records, other written information and annual employee appraisal.

Compare performances of each department and each employee against objectives, targets and standards set for them and keeping in mind future work requirements in the organization.

Identify cause of problems faced by the organization to enable the management to train the employees in handling the problems as well as solving the problem in a satisfactory manner.

Segregate identified problems into problems requiring staff development action such as training and into problems requiring other management actions, so that these problems are accurately addressed.

Prioritize training actions in accordance to where the training need is more urgent. (B) Designing training programmeHaving completed the ground work of training needs and assessment whereby training gaps are identified and prioritized, the next step is to design the training action plan which involves the following: Types of training addressing various training needs: Entry training involving new recruits and employees required to take a new job.

Problem resolution training to meet a shortfall or deficiency in job performance.

Training for change to prepare employees for job identified in near future.

Development to equip employees to meet organizational changes in future.

Training imparted in any type would be skill, attitude or knowledge based training or a combination of the three.

Identifying the Trainee groups.

Identifying the most effective training methodology.

Classroom training outside the organization through external agencies for meeting specific job function related needs which cannot be imported internally. This is normally the case when the training involves specific are as and smaller numbers making it uneconomical to conduct the program internally. These external sources must be chosen with care and must be able to fulfill the organization's analyzed training and development needs. These training methods must be supplemented by enabling the trainees to apply in the work place and translating into job competence the knowledge and skill gained through such training.

Classroom training within the organization through external and internal agencies: These programs must be carefully designed to ensure that they mirror the trainee groups requirements individually and collectively. Like the external courses, when designing these programs, one must ensure that the training objectives are expressed in terms of job competence as well as knowledge and skill.

This method of training is must effective in bringing together employees in larger numbers to address common training needs. The training faculty is critical to the success of such training programs. The importance and the initiality of the need for proper communication of knowledge and ideas dictate that the selection of faculty members must be made keeping the receiver in mind.

On the job training enables the employees to learn the job while actually carrying out the tasks involved in the job. All new recruits joining the organization are required to undergo induction program with planned work experience in various departments associated with the employees own department for a short duration to equip the employee with basic knowledge fundamental to his job function.

Entry level training is normally imparted through internal on-job and off-job training methods.

Problem resolution training, training for change and development related training may be imported through internal or external on-job or off-job training methods depending on program design, objective and target size. Purposes of training & development evaluation

The five main purposes of training evaluation are:

Feedback: It helps in giving feedback to the candidates by defining the objectives and linking it to learning outcomes.

Research: It helps in ascertaining the relationship between acquired knowledge, transfer of knowledge at the work place, and training.

Control: It helps in controlling the training program because if the training is not effective, then it can be dealt with accordingly.

Power Games: At times, the top management (higher authoritative employee) uses the evaluative data to manipulate it for their own benefits.

Intervention: It helps in determining that whether the actual outcomes are aligned with expected outcomes.

Evaluation of training programme

Evaluation helps in controlling and correcting the training programme:

Reactions: Trainees reactions to overall usefulness of training including the coverage of the topics, method of presentation, and the techniques to clarify things, often throw light on the effectiveness of the programme.

Learning: Training programme, trainers ability and trainees ability are evaluated on the basis of quantity of content learned and time in which it is learned and learners ability to use or apply the content learned.

Job Behavior: This evaluation includes the manner and extent to which the trainee has applied his learning to his job.

Organization: This evaluation measures the use of training, learning and change in the job behavior of the department / organization in the form of productivity, quality, morale, sales turnover and the like.

Ultimate Value: It is the measurement of ultimate results of the contribution of the training programme to the company goals like survival, growth, profitability, etc. and individual goals like development of personality and social goals like maximizing social benefits.ABOUT DEVELOPMENT

Definition:

In the works of Michael J. Jucius, Executive development is the programme by which executive capacities to achieve the desired objectives are increased.

Mr. Jucius has written that Programme must be related to the development of various interrelated matters, factors and needs. Executive capacities involve different individual abilities of present and prospective managers at different levels of management.

In the words of Koontz and ODonnel, Developing a manager is a progressive process in the same sense that educating a person is neither development nor education should be thought of as something that can never be completed, for there are no known limits to the degree to which one may be developed or educated.

Executive development is a planned systematic and continuous process of learning and growth by which managers develop their conceptual and analytical abilities to manage.

Development is concerned with overall personality of the candidate.

Development improves performance of the mangers by giving them opportunity for growth and development.

OBJECTIVES OF DEVELOPMENT Development is continuous ongoing activity. Development aims at improving total personality of an executive. Development aims at meeting future needs. Development helps the manager to acquire knowledge, skills and abilities. Executives can show superior performance on the job. Development efforts help executives to realize their own career, goals and aspirations in a planned way.METHODS OF DEVELOPING MANAGERS

1. Decision Making Skills In basket

Business Game

Case Study

2. Interpersonal Skills Role Play

Sensitivity Training

Behavior

3. Job Knowledge On the job experience

Coaching

Understudy

4. Organizational Knowledge Job Rotation

Multiple Management

5. General Knowledge Special Courses

Special Meetings

Special Meetings

Distinctions between Training and DevelopmentLEARNING DIMENSIONTRAINING DEVELOPMENT

Meant ForOperativesExecutives

FocusCurrent JobCurrent and Future Jobs

ScopeIndividual EmployeeWork Group & Organization

GoalFix Current Skill Deficit Prepare For Future Work Demands

Initiated ByManagementThe Individual

ContentSpecific Job Related InformationGeneral Knowledge

Time FrameImmediateLong Term

Global training standard of OZONE

All associates are certified in basic job skills prior to assuming jobs.

Performance analysis is used to determine training needs.

Organization has functioning training committee.

Each associate has an individual annual training plan.

Job experts are trained as trainees.

Training is performance based.

Organization has an overall training plan which supports the business plan.

Learning guides exist for all key jobs.

Success of transfer of training into workplace is measured through recertification / performance appraisal.

Accountability for training is a performance standard of each manager.CHAPTER-3

COMPANY PROFILE

OZONE BUILDERS & DEVELOPERS Pvt. Ltd. Ozone Group is one of the emerging Real Estate Company in India. It is in its nascent stage in todays real estate industry. Ozone group was established in the year 2005; with its headquartered in Faridabad. It has already carved a niche for itself with zest and zeal combined with innovation & creativity. Ozone Group is a diversified group with significant presence in real estate development, construction and financial services. Ozone Group is a company whose business philosophy lies in the commitment to creating architectural marvels using state-of-the-art technology and global architectural, construction and business practices. It is equally passionate about providing cost-effective and holistic solutions for its customers. The group has a strong technical base, expertise and financial standing with ISO-9001-2000 Certification. It has established it self as the champion in innovation and creativity with several awe aspiring landmarks to its credit like Ozone Tower, Independent floors, Villas and Sahstra Dhara Ropeway (Dehradoon).

Real estate

The term real estate is defined as land, including the air above it and the ground below it, and any buildings or structures on it. It is also referred to as realty. It covers residential housing, commercial offices, trading spaces such as theatres, hotels and restaurants, retail outlets, industrial buildings such as factories and government buildings. Real estate involves the purchase, sale, and development of land, residential and non-residential buildings. The main players in the real estate market are the landlords, developers, builders, real estate agents, tenants, buyers etc. The activities of the real estate sector encompass the housing and construction sectors also.

The real estate sector in India has assumed growing importance with the liberalization of the economy. The consequent increase in business opportunities and migration of the labor force has, in turn, increased the demand for commercial and housing space, especially rental housing. Developments in the real estate sector are being influenced by the developments in the retail, hospitality and entertainment (e.g., hotels, resorts, cinema theatres) industries, economic services (e.g., hospitals, schools) and information technology (IT)-enabled services (like call centers)etc. and vice versa. In recent years the real estate has assumed an important position in countrys growth and development.

The real estate sector is a major employment driver, as it is the second largest employer next only to agriculture. This is because of the chain of backward and forward linkages that the sector has with the other sectors of the economy, especially with the housing and construction sector. About 250 ancillary industries such as cement, steel, brick, timber, building materials etc. are dependent on the real estate industry. Every time peoples remain engaged in building houses irrespective of the season.

Current Scenario It is difficult to estimate the exact contribution of the real estate sector to gross domestic product (GDP) as it appears in a disaggregated and dispersed form in the National Accounts Statistics. Residential housing and real estate services (activities of all types of dealers such as operators, developers and agents connected with real estate) is covered under the category real estate, ownership of dwellings, business and legal services. The gross value added in the ownership of dwellings is equivalent to gross rental of the residential dwellings less cost of repairs and maintenance. Gross rental is estimated as a product of average gross rental per dwelling and the number of census dwellings and includes imputed rent of owner-occupied houses.

The rentals of the industrial/trading establishments are deductible expenses from the profits of these establishments but appear as profits of the business or company renting out the premises. Similarly, implicit rents on self-owned real estate is accrued as profits from business and is difficult to separate from non-real estate profits. The addition to the stock of real assets with these businesses appears in the business accounts as capital addition. In the national accounts it would appear under the head gross fixed capital formation construction. Value of construction output is the additions made to the stock of real estate assets in the public, private and household sectors. The contribution of construction to GDP is the estimate of value added derived from the corresponding estimates of this value of construction output.

Further, current data on the sectors such as ownership of dwellings, real estate services construction are mostly not available and estimates for the benchmark year is prepared on the basis of base year data and projected for other years with the help of relevant indicators. To get an idea of the contribution of the real estate sector to GDP, an attempt is made to factor in the value added to ownership of dwellings, which constitute housing, real estate services and construction. construction are mostly not available and estimates for the benchmark year is prepared on the basis of base year data and projected for other years with the help of relevant indicators. To get an idea of the contribution of the real estate sector to GDP, an attempt is made to factor in the value added to ownership of dwellings, which constitute housing, real estate services and construction.

Real Estate Investment in India

As one of the worlds fastest growing economies, India possesses great potential for commercial real estate investors and developers. Changes in the rules governing foreign direct investment (FDI) in real estate have made the Indian market more favorable to foreign investors; however, many pitfalls remain. In order to fully realize the benefit of these rules and regulations, it is critical to understand the tax and regulatory framework and how to properly structure a foreign investment in Indian real estate. This briefing identifies and explores some of the key issues concerning real estate investment and development in India today.

Indias real property framework The Indian real property system differs from that of many other developed countries in several important respects, including the fact that a guaranteed land title system has yet to be developed and owners of vacant land must either develop the land or risk confiscation of the land by the government. Current land ownership records in India provide only presumptive title because most transfers of real property have not been recorded with the state. As a result, it has been reported that ownership of nearly 90 percent of land in India could be subject to conflicting ownership claims. Although the federal government is working to improve Indias land title system by establishing a certification authority to register land titles and encouraging state governments to implement and maintain their own updated land title databases, no state has taken the lead in implementing necessary reforms. In addition to the presumptive title system, many states are still operating under the Urban Land Ceiling Regulation Act (ULCRA), which the federal government enacted in 1976 to prevent the hoarding of real property. The ULCRA requires that owners of vacant land beyond a certain size (the standard varies by state but ranges from 500 to 2,000 square meters) register the land with the state government. Once registered, the government can restrict any transfer, change in use and development of the land, as well as take possession of the land if certain criteria are met. Although the federal government repealed the ULCRA in 1999, the law remains in effect in some states, such as Andhra Pradesh, Assam, Bihar, Maharashtra, Orissa and West Bengal. Because land regulation falls under the control of state government, regulations affecting development can vary greatly by location. In addition to the ULCRA, some states continue to enforce rent control provisions, as well as stamp duties as high as 10 to 12 percent.FDI in Real Estate

As the Indian economy continues to grow at a rapid pace8 to 9 percent each year for the past three yearsregulators have struggled to maintain a balance between attracting foreign investment and controlling speculation. Historically, FDI in real estate has been tightly controlled and limited to highly regulated development of integrated townships, technology and industrial parks, and special economic zones (SEZs).But in March 2005, the federal government substantially relaxed restrictions on FDI in real estate. While foreign investors are still prohibited from acquiring real property directly, their ability to invest through a joint venture or wholly owned subsidiary has expanded significantly.

The order authorized FDI to comprise 100 percent of the financing for housing, built-up infrastructure, township (mixed-use development that includes residential plots, townhouses and villas along with retail, office and recreational areas) and construction-development projects, including residential buildings, offices, resorts and city and regional infrastructure under the automatic route. When investing under the automatic route, foreign investors are not required to seek any prior approval from the government or the Royal Bank of India before investing, so longs the development meets certain size, timeframe and capitalization requirements. Although it significantly broadens FDI in real estate, it still prohibits foreign investors from directly investing in fully developed existing properties under a pure rental model. Investors and relate to the size of the project. Housing projects are required to consist of at least 25 acres and construction-development projects are required to result in at least 50,000 square feet of new building space. Major issue in real estate sector in India The Indian real estate market is still in its infancy, largely unorganized and dominated by a large number of small players, with very few corporate or large players having national presence. The Indian real estate market, as compared to the other more developed Asian and Western markets is characterized by smaller size, lower availability of good quality space and higher prices. Supply of urban land is largely controlled by state-owned development bodies like the Delhi Development Authority (DDA) and Housing Boards leaving very limited developed space free, which is controlled by a few major players in each city.

Restrictive legislations and lack of transparency in transactions are other main impediments to the growth of this sector. Organized sector has also hindered the growth of this sector. There is a thriving parallel economy in real estate, involving large amounts of undeclared transactions, mainly due to high stamp duty rates. The current legislative framework also leads to substantial losses to the Government.

Some other issues include:

Transfer of Property.

Registration.

Urban Land (Ceiling and Regulation).

Rent Control.

Taxes and Stamp Duty Rates.

Stamp Duty.

Property Tax.

Conversion of Rural Land to Urban Use.

Credit Restrictions.

Mortgage market and securitization.

Road Networks.

Foreign Direct Investment.

Approval Procedures

Township A township (or municipality) is a settlement which has the status and powers of a unit of local government the term describes a very small agrarian community, usually describing a local rural or semi-rural government within a county. "Municipality" refers to a town or "an area governed like a town". Small (in terms of population) rural subdivisions with limited administrative responsibilities are better referred to as "parishes" or "communities", and this (rather than "municipality") is the preferred translation of the expressions commune, emended, Geminate, commune, obec, etc referred to below. Township includes the covered area in which the government or company provides every facility within the premises. This is a new concept in the real estate industry. It provides the opportunity to the builders to earn a huge profit and building homes for the people. The township provides the clean environment, better facilities and chance to enjoy the social life.

Draft norms for township development

According to the UP Integrated Township Policy, consistent with overall approach of the UP government to be a facilitator rather than a provider, it is proposed that the development of integrated townships to be done through private, market initiatives. The governments role will be to support and facilitate the market operations and regulating it only to the extent required to realize public policy objectives. Therefore the considerations which determined the choice and design of norms for the development of the townships under the aegis of the policy are:

That the norms should ensure achievement of public policy objectives without being restrictive

That the norms should be directed towards raising the standards of the real estate industry, especially in the following considerations:

Transparency and disclosures

Quality assurance

Concern for the environment

That the norms should direct the development activities towards creation of high quality infrastructure, not only to meet the current needs of service industries but also offering value for the future needs.Town Planning Norms The key objectives behind the formulation of township norms is to safe guard public interests as well as facilitate the creation of good quality real estate. Therefore the effort is to deter from being overly prescriptive and regulate where absolutely essential. The objectives of the town planning norms can be elaborated as follows:

To ensure a long term economic development perspective,

To ensure basic quality of life and predictability from the point of view of external (trunk and higher order social) infrastructure demands/ provisions,

To address any negative externalities from development of the township

To ensure integrated, sustainable development within the township, but also with a view to well planned and balanced development in the larger regional context. Regulatory parameters as stated earlier must be prescriptive to the extent of safeguarding public policy objectives, quality of life, public safety and economic development. The planning mechanism includes the design of nature, intensity and extent of use, location decisions and systems for access and networks. Draft town planning norms have been annexed to this document.

The Town Planning and Development Control Norms will cover the following categories: Land Use

The land use mix is related to the classification of townships by use, and to the criteria for eligibility, wherein a minimum proportion of built-up area is to be allocated to the proposed economic activity. In addition to this, land use norms will cover compatibility of adjacent uses, integration with transportation, network, distribution of service facilities and provisions to ensure social inclusiveness. Norms relating to land use mix will cover the classification of land uses. The percentage of land area as well as built-up area is devoted to the various uses will be prescribed in broad ranges.

Road Network, traffic and Transportation

Norms relating to the road network will specify minimum density of road length per unit area, classification of roads by hierarchy, road width at hierarchical levels etc. Traffic and transportation norms will put forward requisites for public transport, non-motorized vehicles (bicycles, etc), comfort and safety of pedestrians, parking standards, etc.

Open Spaces, Parks and Gardens

Town Planning norms will indicate the total quantum of open spaces to be provided in relation to the working/residential population of the township and built-up area, including the hierarchical distribution from neighborhood to township level.

Density, Height and Bulk

To ensure predictable infrastructure requirements, the overall density of the township will be specified both in terms of residential population density (expressed in minimum and maximum number of dwelling units per unit land area) and in terms of density of built-up area (expressed in minimum and maximum FSI). Plot size, margin/setback and building height ranges will also be stipulated. To ensure harmonious built form, urban design guidelines will be laid down and the developer will be required to submit an urban design plan specifying the characteristics of the building envelope including facades, finishes, etc for all buildings proposed in the township.

Provision for Informal Service Providers and EWS Housing

To ensure that the lowest income groups including the informal services providers have access to formal housing, there will be specific norms for providing a minimum number of dwelling units for the EWS in proportion to the total estimated population and the nature of economic activity proposed in the township. Allotting of compensatory built up area to the Developer for provision of EWS housing may be considered. The percentage of land allocation and distribution of dwelling unit sizes to ensure inclusion of lower income groups will be indicated. The mechanism for construction and delivery of housing will be notified. The values for all the above parameters will be calibrated to the objectives of each category of township and the nature of public interest to be protected. While these generic norms will apply to all townships, specific norms may be framed in each Master Plan for areas where townships are to be promoted, based on the imperatives of the local context.

Infrastructure norms

The key objective of prescribing infrastructure norms is to establish the minimum design and performance standards, to ensure a minimum quality of life for the residents of the township. The objective can be elaborated as follows:

To ensure basic quality of life and predictability from the point of view of external (trunk and higher order social) infrastructure demands/ provisions,

To address any negative externalities from development of the township, and

To ensure integrated, sustainable development within the township, but also with a view to well-planned and balanced development in the larger regional context. The parameters to be regulated for provision of infrastructure must be prescriptive to the extent of ensuring minimum quality of life, scalability, managing the impact on environment, and specific needs of the economic activity. Infrastructure design and performance norms are being developed and will be made available soon. The infrastructure norms will cover the following categories: Service standards

The norms related to infrastructure service standards would prescribe the minimum level and quality of services for water supply, sewerage and treatment, solid waste collection and disposal. The norms would be based on generally accepted standards for such services. Design Standards

The norms related to infrastructure design standards would prescribe the capacity and quality of the physical structures like roads, pavements, storm water drainage systems, water distribution system. These norms would be specifically directed towards scalability and sustainability.

Provision of social infrastructure

The norms related to social infrastructure would prescribe the minimum standards for providing social infrastructure facilities like schools, hospitals, fire fighting stations, police stations, community halls and public parks. These norms would be specifically directed towards providing a wholesome living environment for the residents of the townships.

Environmental guidelines

The norms in this category would be for ensuring that the impact of the township project on the surrounding environment is kept to a minimum.

Operations and maintenance standards

The norms in this category would be prescribed to establish the standards for operations and maintenance of the physical infrastructure and services within the township after the township has been operationalise The Ozone builders have also came out with this concept and developing the township named, ozone city in Aligarh. The 800 core project is spread on 125 acres of land acquired by the company approved by the Aligarh development authority. The completion time of the project is three years. The First phase of the project is to sale the plots. The size of the plots is 100 acres, 150 acres, 200 acres, 300 acres, 350 acres, 400 acres, 500acres, and 1000 acres. FACALITIES PROVIDED IN OZONE CITY Amenities

Hospitals & nursing homes

Schools and crches

Clubhouse

Shopping Malls & multiplexes

5 star hotel

24x7 securities

100% Power Backup

24 hours water supply

Water treatment plant

Internal main road measuring 12 mtrs Specifications Power Supply

Water Supply

Road Network

Public Health

100% Power Backup

24 hours water supply

Water treatment plant and storage facility

Road measuring min 12 mtrs Wide

Arterial road to be 30 mtrs Wide

Adequate health services in the shape of hospitals and nursing

One of the largest hospitals in the NCR region

Communication system

Broadband cables

Wi-fi connectivity pocket

LANDSCAPING

Extensive and beautiful landscaping with parks and jogging tracks

PARKING

Adequate car parking facility at various locations with township

SECURITY 24 x 7 Security Patrol with modern communication system

Gated development with fencing all around the township

EDUCATIONAL FACILITIES Schools, Business Schools, Nursery Schools, and crches

Shopping and Entertainment Facilities

World class shopping malls, retail outlets, food courts, multiplexes, etc.Mission Being trendsetters in designing of the buildings and with expensive landscaping, it is equally adept at fulfilling not just the consumer needs but also their fancies. Choosy buyers have found them most dependable and reliable, either for investment or for happy, comfortable living. Integrity along with quality, reliability and customer satisfaction are strengths intrinsic to it, at Ozone Group. Together, these qualities translate into a genuine thought for the occupant of a house; be it good workmanship selection of a locality, help with lending agencies, or giving possession when promised.

Vision To create homes that clearly reflects their preferences, through sustained speed and quality in every aspect of its operations. Ozone group seeks to be an organization that delivers the customers needs, as and when they arise.Business of the company The company basically targets the emerging cities of India for development. It already carved niche for itself. The business of the company includes Real estate, Finance and Investment. The products and services from the stable of this group include:

Integrated township.

Plots.

Flats.

Independent villas.

Shopping malls with multiplex.

Schools and colleges.

Hospitals.

Recreational facilities.

IT Park.

Achievement of the companyOzone group has no. of achievements in its credit. It has

Constructed OZONE TOWERS in Faridabad where locates its headquarter.

In its credit the SHAHASTRADHARA ROPEWAY in Dehradun.

Also built MANIDEEP RESORTS in Dehradun.

Constructed Independent Floors in Faridabad.

Built Luxurious Villas in Faridabad.

Won Best Regional Builder award in 2008.Need for the Study In recent years with the tremendous rise in the real estate many small investors jump in to this sector to make profits. In the wake of present financial crisis which badly affected the real estate sector it become imperative to know the consumer behavior of people.

For this purpose I did a research to know the investment strategy of people in the face of many real estate developers and also to know what comes in their mind while investing in real estate within four parameters (price, product, location and services), what factors influence investment decisions, whether high income category prefer much risk in comparison to lower income people, whether only male dominates thisHuman Resource Department Description of the Activities Vision and Mission of the Organization Organization Structure Of organization/ Different departments, Total strength and its composition, Ratio of staff v/s Permanent / casual / Contractor Employees etc. Major policies related with the Employees Welfare / Statutory Benefits / Annual Increment / Promotion/ Leaves/ Canteen/ Medical and Health facilities etc. Job Description, Authority and Responsibilities. Career Planning and Development Activities.

Quality System cell / Quality Audit Environment policy / Quality policy, its main feature etc. Major achievements in Environmental prevention Projects and comparison With Benchmarking

Continual improvement Projects / Corrective and preventive / action / monitoring

Mechanisms

Quality Assurance Department Quality Assurance Structure , Quality / Defective Index Continual Improvement Projects/ Corrective And Preventive Action/ Monitoring Mechanism. Quality Circles, major Achievements Benchmarking data, major thrust .areas, and weak areas.Purchase Department Purchase System study of the Suppliers Vendors components, lead times Vendor Selection Method, up-gradation plan in view of strengthening the Supply chain. Inventory management, Efforts to reduce the inventory of Raw/ Semi/ Finished Goods.

Research and Development: Product Range concepts/ variants, Main feature of the Products. Competitors products their features. Development Stages/ time required for the development of the new products, cost analysis. Cost of the products, Value Engineering projects, projects, Plans for Reduction of the cost. Products Performance Improvement plans. Customer complains and Corrective and Preventive action initiated.Manufacturing Department:

Manufacturing Facilities including the Machine Shop, Paint Shop, Assembly, Wall mart etc, Cycle time of Each Components. Productivity levels- per man/ machines/ hour/months. Internal Communication System.Finance Department Financial health of the company i.e. Profitability.

CHAPTER-4DATA ANALYSIS AND INTERPRETATIONSQ.1 What kind of training is given in your company?OptionsPercentage of respondents

Technical20

Behavioral20

Both60

Table 4.1: Kinds of training

Figure 4.1: Kinds of training

INTERPRETATION:The above table shows that, 60% of the employees say that they are gets both technical and training, while 20% of the employees say that they are get behavioral training and rest 20% of the employees say that they are get technical training.Q.2 Are trainees sharing their experience with the subordinate, colleagues and senior members? OptionsPercentage of respondents

Frequently5

Occasionally60

Rarely20

Never15

Table 4.2: Levels of sharing the training experience Figure 4.2 Levels of sharing the training experience

INTERPRETATION:The above table shows that, 60% trainees share their training experience occasionally. 20% trainees share their training experience rarely, 15% trainees share their training experience never and 5% trainees share their training experience frequently.Q.3 Should the training need change with the change in your organization?

OptionsPercentage of respondents

Always20

Sometimes70

Never10

Table 4.3: The training needs change Figure 4.3: The training needs change

INTERPRETATION:The above table shows that, 70% trainees say that there is a need for change sometime in training programmes while 20% trainees say that there is a need for change always in training programmes and 10% trainees say that there is a need for change never in training programmes.Q.4 Should the training method be change with the change in organization policy?OptionsPercentage of respondents

Frequently15

Occasionally70

Rarely10

Never5

Table 4.4: Training method be change with change in organization Figure 4.4: Training method be change with change in organizationINTERPRETATION:The above table shows that, 70% occasional change in the method of training, 15% say that frequently change in the method of training while 10% rarely change in the method of training and rest 5% say never.Q.5 To what extent the construction faced by the trainees?OptionsPercentage of respondents

Yes5

Sometimes15

No80

Table 4.5: Construction faced be the trainees during training Figure 4.5: Construction faced be the trainees during training

INTERPRETATION:The above table shows that, 80% not very few trainees face constraints during training programmes while 15% sometime very few trainees face constraints during training programmes and rest 5% very few trainees face constraints during training programmes.

Q.6 Do you think that the training needs identification process adopted by OZONE Ltd. Is in the right way of identification of training need?OptionsPercentage of respondents

Yes50

No10

Dont know40

Table 4.6: Effectiveness of training need identification process Figure 4.6: Effectiveness of training need identification processINTERPERTATION:The above table shows that, 40% of the employees are doing know aware about the training need identification process while 50% of the employees are aware about the training need identification process and rests 10% of the employees are not aware about the training need identification process.Q.7 Generally what type of training does OZONE provide?OptionsPercentage of respondents

Soft skills training.20

Job related training.30

Management development programme.50

Table 4.7: Types of training provided by company Figure 4.7: Types of training provided by companyINTERPERTATION:

The above table shows that, 20% employees says that soft skill training are provide by the company and 30% agreed with job related training while 50% agreed with management development programme. Q.8 Do you think training programs given by the company provides satisfaction?

OptionsPercentage of respondents

Always5

Mostly75

Sometime15

Never5

Table 4.8: Satisfaction from the method of training Figure 4.8: Satisfaction from the method of trainingINTERPRETATION:The above table shows that, 75% mostly of the trainees are satisfied with the methods of training while 15% sometimes, 5% never and rest 5% always of the trainees are satisfied with the method of training.Q. 9 Does training motivate you to accomplish your job in desired manner?OptionsPercentage of respondents

Yes70

No30

Table 4.9: Training motivates you to accomplish your job Figure 4.9: Training motivates you to accomplish your job

INTERPRETATION:

The above table shows that, 70% people say yes and 30% say no. So, maximum persons agree that training motivates for accomplishing the job in desired manner.Q.10 Do you think that training offered minimize accidents and damage to the equipments of the organization?

OptionsPercentage of respondents

Yes60

No40

Table 4.10: Training offered minimize accidents and damage Figure 4.10: Training offered minimize accidents and damage

INTERPRETATION:

The above table shows that, 60% persons agreed with the view that training minimizes accidents and damage to the equipments and rest 40% are not agreed.CHAPTER-5

RECOMMENDATIONS AND CONCLUSIONSrecommendations

The measurement of ultimate results of the contribution of training programme to the company goals like survival, growth, profitability should be done.

Training need analysis system of the organization should satisfy the staff members, employees, workers.

More practical sessions should be involved to make training session more interactive and lively. Training is properly the responsibility of any one in the management who wants to attain a particular objective.

To be effective, training must use tested principles of learning. Training should be entertaining by sharing more videos and audios. Trainee reaction to overall usefulness of training including the coverage of the topics, methods, of presentation and techniques to clarify through effectiveness of programme.CONCLUSIONS The purpose of training is to help meet company objectives by providing opportunities for employees at all organizational levels to acquire the requisite knowledge skills, and attitude.

The objectives and scope of a training plan should be defined before.

Its development begun in order to provide a basis for common agreement and cooperative action.

The techniques and process of a training program should be related directly to the needs and objective action.

The purpose behind the training of personnel is to assist line management in the determination of training needs and in the development, administration, conduct and follow up training plan.BIBLIOGRAPHY

BOOKS

Chabbra T.N., Human Resources Management, Dhanpat Rai & co. (p) Ltd. India, Ninth Edition.

Kothari C.R., Research Methodology, New Delhi, New Age International Publisher, Second Edition.

Gupta C.B.,Human Resource Management, Sultan Chand &Sons, Sixth Edition.

Ashwathapa K.,Human Resource Management,Mcgiaw Hill, Fourth Edition.

Prasad L.M., Organizational behavior, Sultan Chand & Sons, Fifth Edition.

Sites referred www.ozone-group.com www.tradeindia.com www.ecel.com

www.passionhr.com

www.citehr.com

ANNEXUREQUESTIONNAIREQ.1 What kind of training is given in your company?a) Technical

b) Behavioral

c) Both

Q.2 Are trainees sharing their experience with the subordinate, colleagues and senior members?

a) Frequently

b) Occasionally

c) Rarely

d) NeverQ.3 Should the training needs change with the change in organization policies?a) Frequently

b) Occasionally

c) Rarely

d) NeverQ.4 Should the training method be change with the change in organization policy?

a) Frequently

b) Occasionally

c) Rarely

d) NeverQ.5 To what extent the construction faced by the trainees? a) Yes b) Sometime

c) NoQ6. Do you think that the training needs identification process adopted byOZONE Ltd. In the right way of identification of training need? a) Yes

b) No c) Dont knowQ.7 Generally what type of training does OZONE provide? a) Soft skills training. b) Job related training. c) Management development programme.Q.8 Do you think training programs given by the company provides satisfaction?

a) Alwaysb) Mostlyc) Sometimed) NeverQ. 9 Does training motivate you to accomplish your job in desired manner?

a) Yes

b) NoQ.10 Do you think that training offered minimize accidents and damage to the equipments of the organization?

a) Yes

b) No