Turnaround Plans For Sick Units of Reliance Fresh
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Transcript of Turnaround Plans For Sick Units of Reliance Fresh
A STUDY ON
“THE DEVELOPMENT OF TURNAROUND PLANS FOR
THE SICK UNITS OF RELIANCE FRESH”
A PROJECT REPORT
Submitted in partial fulfilment of the Requirement for the award of degree in
BACHELOR OF BUSINESS ADMINISTRATION
MAHATMA GANDHI UNIVERSITY, KOTTAYAM
SUBMITTED BY
Mr. CRATTO TONY
REG. NO: SDAA10201414
UNDER THE GUIDANCE OF
Mr. JOGY GEORGE
DEPARTMENT OF BUSINESS ADMINISTRATION
MARIAN COLLEGE KUTTIKKANAM, PEERMADE
IDUKKI (DIST), KERALA
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DEPARTMENT OF BUSINESS ADMINISTRATION
MARIAN COLLEGE KUTTIKKANAM – 685 531
PEERMADE, IDUKKI
Certificate
This is to certify that the project entitled “A STUDY ON THE DEVELOPMENT
OF TURNAROUND PLANS FOR THE SICK UNITS OF RELIANCE
FRESH” submitted to Mahatma Gandhi University in partial fulfilment for the
award of the degree of Bachelor of Business Administration (BBA) is a record of
original work done by Mr. Cratto Tony, Register No. 201414 during the year 2012-
2013 in the department of Business Administration under my supervision and
guidance.
Mr Jojy George Mr Jojy George
Head of the Department Faculty Guide
Date: Date:
Viva voce Examination held on..............................
Signature of the Signature of the
External Examiner Internal Examiner
Date: Date:
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Declaration
I, Cratto Tony, Reg. No.201414, hereby declare that this project work entitled
“A study on the development of turnaround plans for the Sick units of
Reliance Fresh” is my original work.
I further declare that this report is based on the information collected by me and
has not previously been submitted to any other university or academic body.
Date : Cratto Tony
Regn No: SDAA10201414
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Acknowledgement
The Successful completion of this dissertation owes to the inspiration and constant
support of many persons.
I wish to extend my sincere thanks to the organization, Reliance Retail; Cochin, for
giving me the opportunity to share in their unmatched experience in the industry.
I’m very much obliged to Mr. Riju Antony, GM-HR, Reliance Retail Kerala for
giving me the permission to carry out my dissertation and for his valuable guidance
and help. I express my sincere gratitude to Mr. Sreejith Damodar, Marketing
Manager, Reliance Retail, Kerala for sharing his knowledge and experience with
me. I also thank all the store managers and supervisors in Vazhakkala, edappally
and girinagar stores who supported me during the project work.
I wish to extend my profound gratitude to Mr. Jogy George, HOD, Department of
Business Administration, Marian College Kuttikkanam for his guidance and
valuable suggestions. I am highly indebted to Dr. K V Thomas, Department of
Commerce, Marian College Kuttikkanam for his valuable help and timely
encouragement in completing this study.
Last but not least, I thank God for his blessings which has helped in the endeavor.
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Executive Summary
A study on the development of turnaround plans for the sick units of reliance fresh was
conducted for a period of one month in the three reliance fresh outlets Edappally,
Girinagar and Vazhakkala ; Cochin; Kerala.
The subject was taken for study because Reliance fresh is the frontrunner in the retail
industry and the investments made by the firm in developing the standard of quality and
for the promotional mix is too high. Even though huge investments are made, some
outlets are recording constant decline in the customer footfall. Finding the root causes for
this decline in customer footfall is the area of my study and developing turnaround plans
for bringing back these stores into profit is the objective of my study.
Following are the root causes for the low customer footfall.
Firstly, the customer loyalty program of reliance fresh is not in the right track. Customers
have not yet felt that redeeming points collected in the reliance one card is beneficial to
them. They are least interested in discounts and something else has to be experimented as
benefits of redeeming points.
Secondly, Reliance Fresh is offering poor staff assistance. Customers often complain that
they don’t find adequate number of staffs required in the store. In this era of huge
competition in retail Industry. Customers prefer stores with quality and friendly service.
Thirdly, poor parking facilities has been identified as a big problem. Even though not
much can be done in rectifying this problem, security staffs should be trained to properly
manage the available parking lots and help the customers to park their vehicles.
Fourth is the poor billing counter efficiency which is the most prominent among all the
problems. What customers value the most in this era is their time. They hate waiting for
long in the queues in front of the billing counters. Proper allocation of experienced staffs
and scientific management of billing is the only way to rectify this problem.
Lastly, customers depend a lot upon competitors in the poor performing localities.
Reliance fresh has to curb this by making available more products and providing a very
customer friendly atmosphere which induces the customers to come back to the store for
more purchases.
Therefore, with the implementation of the above suggestive measures which management
has promised to take into consideration, reliance fresh will be able to gain what it has lost
to gain the market leader position in the grocery retail format, which thereby meets the
objectives of the study that leads to the success completion of the project study.
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CONTENTS
Chapter Title Page No.
Introduction 07
1 Literature Review 08
2 Company Profile 14
3 Research methodology 20
4 Data Analysis and 25
Interpretation
5 Findings and Suggestions 53
Conclusion 57
Appendix 1 58
Appendix 2 62
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Introduction
The retail industry is one of the fastest growing industries in India over the last few
years. Though initially, the sector was mostly unorganized, however with the
change of taste and preference of customers, the industry is getting more popular
and organized as well. With the growing demand, the industry is expected to grow
at a pace of 25-30% annually in the next five years. And not to forget, FDI to be
opened to 100% to 50% in single branded and multi branded is also an added
attractive feature in the scenario.
The huge growth potential has led many top notch national players like Reliance,
Birla, Tata and many others to take a big foot down in the industry that has led to a
tough head to head competition. Reliance fresh is a front runner in the retail
industry and it is performing very well in the present scenario. Even though the
total performance of reliance fresh is very well, certain stores are not performing
very well. These stores are called underperforming stores or sick stores. They are
called so because the customer footfall of those stores are very low.
The aim of this project is to find the reasons for the sickness of these stores and
develop certain turnaround plans for the revival of these stores.
Turnaround management is a process dedicated to corporate renewal. It uses
analysis and planning to save troubled companies and returns them to solvency.
Turnaround Management involves management review, activity based costing,
root failure causes analysis, and SWOT analysis to determine why the company is
failing. Once analysis is completed, a long term strategic plan and restructuring
plan are created. Turnaround management does not only apply to distressed
companies' it in fact can help in any situation where direction, strategy or a general
change of the ways of working needs to be implemented. Therefore turnaround
management is closely related to change management, transformation
management.
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CHAPTER-1
REVIEW OF LITERATURE
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Turnaround management is a process dedicated to corporate renewal. It uses
analysis and planning to save troubled companies and returns them to solvency.
Turnaround Management involves management review, activity based costing,
root failure causes analysis, and SWOT analysis to determine why the company is
failing. Once analysis is completed, a long term strategic plan and restructuring
plan are created. These plans may or may not involve a bankruptcy filing. Once
approved, turnaround professionals begin to implement the plan, continually
reviewing its progress and make changes to the plan as needed to ensure the
company returns to solvency.
The three key elements of any turnaround are financial restructuring, operational
restructuring and stakeholder management.
A turnaround practitioner will use skills in insolvency/corporate finance/audit;
management consulting/CFO; project management; negotiation & stakeholder
management; HR skills; financial modeling; as well as lateral thinking ability and
the ability to stay calm under pressure.
The key is to critically assess the troubled entity’s business plan and review profit
and loss to determine the causes of underperformance such as rising production
costs, loss of customers or increased competition. The work focuses around
improving cash flow, stabilizing operations, communicating with key stakeholders
to re-build their support, exploring all strategic options and developing a
comprehensive turnaround strategy.
The turnaround specialist will undertake strategic, financial and operational
reviews to identify areas of underperformance and then work with management to
implement strategies to improve the overall performance of the business.
Stages of Turnaround process
The various stages of the turnaround process are discussed in detail below as per S.
Chaudhary-
STAGE 1: DECLINE
Decline starts from firm equilibrium and reaches a nadir. Two theoretical
perspectives-
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K-Extinction- It suggests macro or external factors are responsible for the
decline.
R-Extinction- It suggests the decline in the firm is due to a reduction in
resources within the firm.
STAGE 2: RESPONSE INITIATION
Response Initiation is the stage where the firm’s performance reaches its nadir and
the management begins to take corrective actions. Categorization of Responses-
Strategic Responses involve changing or adjusting the businesses the firm is
currently involved in, like diversification, vertical integration, etc. It is used when
the decline is due to structural shift. Operating Responses focus on the way the
firm conducts its businesses like cost cutting, revenue generation, etc. It is used
when the decline is due to inefficiency.
STAGE 3: TRANSITION
According to S.Chowdhury, “a substantial amount of time has to pass before the
results of turnaround strategies show”. At this stage the firm experiments with
different strategies, structures, cultures and technologies. Also a turnaround is
undertaken with a definite purpose. According to some researchers, on an average,
performance improvement takes place after or around 7 years. For example, Ford
took four years to introduce its successful Sable line in response to its declining
market share.
STAGE 4: OUTCOME
At this stage, turnaround activities continue for a number of years. Here the
outcome of the activities undertaken during the third stage is realized. The fourth
stage involves determining whether a turnaround has been accomplished. The
measures used to determine the outcome are the same as those that are used to
identify the decline at the first stage of the turnaround.
Techniques used for Turnaround.
There are different techniques that can be applied to cause a repositioning. The
four main techniques are known as Retrenchment, Repositioning, Replacement and
Renewal.
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Retrenchment
The Retrenchment strategy of the turnaround management describes wide-ranging
short-term actions, to reduce financial losses, to stabilize the company and to work
against the problems, that caused the poor performance. The essential content of
the Retrenchment strategy is therefore to reduce scope and the size of a business
through Shrinking Selective Strategy. This can be done by selling assets,
abandoning difficult markets, stopping unprofitable production lines, downsizing
and outsourcing. These procedures are used to generate resources, with the
intention to utilize those for more productive activities, and prevent financial
losses. Retrenchment is therefore all about an efficient orientation and a refocus on
the core business. Despite that many companies are inhibited to perform cutbacks,
some of them manage to overcome the resistance. As a result they are able get a
better market position in spite of the reductions they made and increase
productivity and efficiency. Most practitioners even mention, that a successful
turnaround without a planned retrenchment is rarely feasible.
Repositioning
The Repositioning strategy, also known as entrepreneurial strategy, its main focus
is to generate revenue with new innovations and change in product portfolio and
market position. This includes the development of new products, entering new
markets, extrapolating alternative sources of revenue and modifying the image or
the mission of a company.
Replacement
Replacement is a strategy, where top managers or the Chief Executive Officer
(CEO) are replaced by new ones. This turnaround strategy is used, because it is
theorized that new managers bring recovery and a strategic change, as a result of
their different experience and backgrounds from their previous work. It is also
indispensable to be aware, that new CEO’s can cause problems, which are
obstructive to achieve a turnaround. For an example, if they change effective
organized routines or introduce new administrative overheads and
guidelines. Replacement is especially qualified for situations with opinionated
CEO’s, which are not able to think impartial about certain problems. Instead they
rely on their past experience for running the business or belittle the situation as
short-termed. The established leaders fail therefore to recognize that a change in
the business strategy is necessary to keep the company viable. There are also
situations, where CEO’s do notice that a current strategy isn’t successful as it
should be. But this hasn’t to imply, that they are capable or even qualified enough
to accomplish a turnaround. Is a company against a Replacement of a leader, could
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this end in a situation, where the declining process will be continued. As result
qualified employees resign, the organization discredits and the resources left will
run out as time goes by.
Renewal
With a Renewal a company pursues long-term actions, which are supposed to end
in a successful managerial performance. The first step here is to analyze the
existing structures within the organization. This examination may end with a
closure of some divisions, a development of new markets/ projects or an expansion
in other business areas. A Renewal may also lead to consequences within a
company, like the removal of efficient routines or resources. On the other hand are
innovative core competencies implemented, which conclude in an increase of
knowledge and a stabilization of the company value.
Necessity of turnaround management in Retail sector.
Retail sector is one of the most booming sectors of the world economy. Retail is
the sale of goods and services from individuals or businesses to the end user.
Retailers are part of an integrated system called the supply chain. A retailer
purchases goods or products in large quantities from manufacturers directly or
through a wholesaler, and then sells smaller quantities to the consumer for a profit.
Retailing can be done in either fixed locations like stores or markets, door to
door or by delivery.
Retailing done in fixed locations is now the biggest business in the world
economy. The sentence mentioned before is not an exaggeration because the
biggest corporate firm in the world in terms of revenue is ‘Wal-Mart’, a retail
business house.
Retail sector is booming in Indian economy also as giant players like Reliance and
Birla came out with their stores all over the nation. The whole process of retail
management is so complicated and there are possibilities that certain stores may
not be performing as well as other stores. And that is the greatest uncertainty of the
retail business as uniform performance from all the stores is not guaranteed. For
each store, there may be unique problems and challenges.
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Common Problems faced by Retail Stores.
Organized sector has only recently emerged from its nascent stage and yet has to
become a preferred career option for most of India’s educated class. The
roadblocks in the success of organized sector are:-
1. Talent shortage & lack of trained manpower.
2. Supply chains are not yet so efficient and the kind of quality that customers
demand is not being provided yet.
3. Inadequate infrastructure, such as roads, electricity, cord chains and posts,
hampers going for a pan-India network of supplies. Due to this, retailers have to
resort to multiple vendors for their requirements which are raising their costs and
prices.
FOOTFALL
According to Pietersz, “footfall is referred to the number of people visiting a shop
or a chain in a period of time.” It is an indicator to gauge the success of a
company’s marketing, brand and format, which brings people into its shops. If
studied the pattern of footfall, potential customers can be tracked and over time,
indication of their demand patters and trends can be analyzed so that business
process can be empowered to target with better focus and clarity in marketing and
tap in maximum sales potential. The key is to understand the customer behavior in
capturing the “buying opportunities” through footfall study to increase profits.
The reasons to determine and thereby study the footfall, as it aid in the following
crucial means which heads directly to the destination of increasing revenue and
sales:
Measuring the share of profits against buyers by site.
Analyzing visitor counts against conversion rates over time to identify
patterns.
Customer Relation Management.
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CHAPTER-2
INDUSTRY AND ORGANISATION PROFILE
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Industry Profile
Retailing is one of the biggest sectors and it is witnessing revolution in India. The
entrant in retailing in India signifies the beginning of retail revolution. Retailing
involves all activities incidental to selling to ultimate consumer for personnel
family and household use. It does this by organizing their availability relatively
large scale and supplying them to customers on a relatively small scale. Retailing
is any person/organization instrumental in reaching the goods or merchandise or
service to the end users. Retailer is a must and cannot be eliminated. The Indian
retailing industry is becoming intensely competitive, as more and more players are
targeting for the same customers. The major retail players are Pantaloons retail,
Shoppers stop and Reliance.
UNORGANIZED RETAILING IN INDIA:
In India, the most of the retail sector is unorganized. In India, the retail business
contributes around 11% of GDP. Of this, the organized retail sector accounts only
for about 4% share and the remaining share is contributed by the unorganized
sector which is mostly a family owned business in India. The main challenge
facing organized sector is the competition from unorganized sector. Unorganized
retailing has been there in India for centuries, these are named as mom and pop
stores. The main advantage in unorganized retailing is consumer familiarity that
runs from generation to generation. It is a low cost structure; they are mostly
operated by owners, has very low real estate and labour costs and has low taxes to
pay.
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ORGANIZED RETAILING IN INDIA:
In late 1990’s the retail sector has witnessed a level of transformation. Retailing is
perceived as a beginner and as an attractive commercial business for organized
business. I.e. the pure retailer is starting to emerge now. Organized retail business
in India is small but has tremendous scope. Organized retailing will grow faster
than unorganized sector and the growth speed will be responsible for its high
market share, which is expected to be $25 billion by 2015. Retailing will show
good prospects in cities like Mumbai, Delhi, Chennai, Kolkata, Bangalore and
Kanpur. After Dubai, Singapore and Hong Kong, in India Delhi will be the next
big retail destination, according to confederation of Indian industries whose
findings have shown that Delhi has the good resources and good conditions for the
retail sector. Out of the total earnings of the government of Delhi which is Rs.
11,000 crore, Rs. 6500 crore is achieved from Retail sector.
COMPANY PROFILE
RELIANCE RETAIL LIMITED
With a vision to generate inclusive growth and prosperity for farmers, vendor
partners, small shopkeepers and consumers, Reliance Retail Limited (RRL), a
subsidiary of RIL was set up to lead Reliance Group’s foray into organized retail.
Since its inception in 2006, Reliance Retail Limited (RRL) has grown into an
organization that caters millions of customers, thousands of farmers and vendors.
Based on its core growth strategy of backward integration, RRL has made rapid
progress towards building an entire value chain starting from the farmers to the end
customers. Reliance Retail continued to expand presence of its value and specialty
formats. During the year, Reliance Retail opened 90 new stores spanning across
‘value’ and ‘specialty’ segments. In store initiatives wider product choice and
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value merchandising enabled the business to achieve good growth during this
period.
Reliance is gearing up to revolutionize the retailing industry in India. Towards this
end, Reliance is aggressively working on introducing a pan-India network of retail
outlets in multiple formats.
A world class shopping environment, state of art technology, a seamless supply
chain infrastructure, a host of unique value-added services and above all,
unmatched customer experience, is what RRL is all about.
RRL has embarked upon an implementation plan to build state-of-the-art retail
infrastructure in India, which includes a multi-format store strategy of opening
neighborhood convenience stores, hypermarkets, and specialty and wholesale
stores across India. Through multiple formats and a wide range of categories,
Reliance is aiming to touch almost every Indian customer and supplier.
RRL launched its first store in November 2006 through its convenience store
format ‘Reliance Fresh’. Since then RRL has rapidly grown to operate 590 stores
across 13 states at the end of FY 2007-08. RRL launched its first ‘Reliance Digital’
store in April 2007 and its first and India’s largest hypermarket ‘Reliance Mart’ in
Ahmadabad in August 2007. RRL has also launched its first few specialty stores
for apparel (Reliance Trends), footwear (Reliance Footprints), jewellery (Reliance
Jewels), books, music and other lifestyle products (Reliance Timeout), auto
accessories and service format (Reliance AutoZone) and also an initiative in the
health and wellness business through ‘Reliance Wellness’. In each of these store
formats, RRL offers a unique set of products and services at a value price point
that has not been available so far to the Indian consumer.
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RELIANCE FRESH
Reliance fresh is the convenience store format which forms part of the retail
business of Reliance Industries of India which is headed by Mukesh Ambani.
Reliance plans to invest in excess of Rs. 25000 crores in the next 4 years in their
retail division. The company already has in excess of 560 reliance fresh outlets
across the country. These stores sell fresh fruits and vegetables, staples, groceries,
fresh juice bars and dairy products. A typical reliance fresh store is approximately
3000 – 4000 square feet and caters to catchment area of 1- 2 km.
Reliance fresh falls under Reliance Industries. It is the first retail venture of the
group. Reliance industries has invested nearly Rs. 3,000 crores to expand the
reliance fresh stores. Reliance fresh directly buys stock from the farmers to cut
down on the wastage. The stores work on the ranger format which means selling of
fresh vegetables to the road sellers. Besides, the stores would provide direct
employment to 5 lakh young Indians and indirect job opportunities to a million
people, according to the company. The company also has plans to train students
and housewives in customer care and quality services for part-time jobs.
VISION, MISSION AND QUALITY POLICY
Vision: To generate inclusive growth and prosperity for farmers, vendor partner,
small shopkeepers and consumers.
Mission: Growth through value creation
Quality Policy: To deliver the best quality to the customer at lower price
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Ownership Pattern
Till Year 2002 reliance Limited was owned by Late Dirubhai Ambani but now it is
owned and governed by his elder son Mukesh Ambani. Thus it is a private limited
company.
Product range of Reliance Fresh.
The product range of reliance fresh is as follows: fruits and vegetables, household
items, confectioneries and beverages, groceries, dairy products, refrigerated
products, non-food FMCG.
SERVICES OFFERED
Customer loyalty program: Reliance has introduced a customer loyalty program
called R-One. This is a free membership card given to reliance fresh customers.
For each hundred rupee purchase the customer gets one point and one point equals
to 70 paise. And these points will be added into his account. For this he has to
swipe the loyalty card during billing. And after crossing a minimum limit of points
he will get gift vouchers from reliance.
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CHAPTER-3
RESEARCH METHODOLOGY
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Research methodology is a way to systematically solve the research problem. It
may be understood as a science of studying how research is done scientifically.
So every project should have a research methodology.
RESEARCH DESIGN
A research design is the arrangement of conditions for collection and analysis of
data in the manner that aims to combine relevance to the research purpose with
economy in procedure.
The data is collected from the three underperforming stores of reliance fresh in
Ernakulam viz. Vazhakkala, Girinagar and Edappally.
TITLE OF THE RESEARCH
“A study on the development of turnaround plans for the Sick units of
Reliance Fresh”.
OBJECTIVES OF THE STUDY
PRIMARY OBJECTIVE:
1) To find out the reason for the poor footfall and sales in certain Reliance
Fresh Outlets.
Reliance fresh is one of the leading grocery store in India even though it
made the giant foot into the retail foray recently. Less than a decade, it
proved itself in being a market leader in terms of sales and profits.
Unfortunately some stores in kerala like the Reliance fresh in Edappally;
Girinagar, Kadavanthara; and Vazhakkala were not doing great because of
poor footfall that has pulled the store in achieving to its maximum potential
in terms of sales, which led my study into this direction.
2) Development of turnaround plans for stores with low customer footfall.
Finding out the reason is not the only object of my study. This project also
aims at developing feasible and effective turnaround plans to revive the sick
stores and bring them back into profit. My project insists on following the
repositioning strategy to bring changes in the operational aspects of the store
to improve the customer footfall.
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SECONDARY OBJECTIVEs:
To study the functioning of Reliance fresh outlet.
To know the consumer behavior towards stores of reliance fresh format.
To find out the influence of various promotional activities among customers.
To find out the level of satisfaction on overall quality of products in reliance
fresh
To study various ways to influence customer purchase and convert them into
sales.
Research Methodology
Nature and Population
The population consists of the residents of the nearby locality of the stores under
study and due to time constraints, only 325 customers from various outlets were
used for the study.
Sampling Technique
The method of sampling technique which I would like to use in this is structured
interview.
A structured interview (also known as standardized interview or a researcher –
administered interview) is a quantitative research method commonly employed
in survey research. The aim of this approach is to ensure that each interview is
presented with exactly the same questions in the same order. This ensures that
answers can be reliably aggregated and that comparisons can be made with
confidence between sample subgroups or between different survey periods.
The reason why I selected structured interview as my sampling technique is
because it provides less distorted information from the mind of the common
people. After all, retail industry is all about people and their satisfaction.
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Sample size
Location
Sample Size
Reliance Fresh, Edappally
100
Reliance Fresh, Girinagar
100
Reliance Fresh, Vazhakkala
100
Reliance Fresh, Kalamassery
25
Total
325
SOURCES OF DATA:
Data collection is a decisive step in the research process. Primary and secondary
data has been used in the course of study. The primary data are those data collected
fresh and for the first time and thus being original in character. The first hand data
need for the study was obtained from the Reliance customers and residents from
the nearby localities of the store
Secondary data is data collected by a third person and which already been passed
through the statistical tools. Secondary data have been collected from books,
magazines, reports and internet.
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LIMITATION OF STUDY
1. The sample size is 325, which is too minor compared to the large customer
base of the company. A higher sample size would have given a more
accurate picture due to the limitation of the time.
2. The consumer behavior is dynamic. Their responses can change from time to
time.
3. Customer’s response cannot be 100% reliable because of inaccurate
information caused due to vague memory.
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CHAPTER-4
ANALYSIS AND INTERPRETATION
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Table 1: Awareness of the customers about Reliance Fresh
Store Branches
yes
No
total
Edappally
100
00
100
Girinagar
100
00
100
Vazhakkala
90
10
100
Total
290
10
300
Interpretation
The survey clearly indicates that a complete positive reply was fetched for the question about
awareness. This shows that marketing strategies of reliance fresh has been fruitful and the brand name
Reliance fresh has reached to everyone. Awareness of existence is a big advantage for any retail store.
100% of the respondents replied yes for the question in edappally and girinagar but 10% of the
respondents were not aware of reliance fresh in vazhakkala. This is a different case from the other two
stores under the experiment group in which majority of the respondents were above middle class. So,
this shows that reliance fresh has some problems in reaching to the common man.
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Table 2: Customer loyalty
Store Branches
yes
no
total
Edappally
77
23
100
Girinagar
92
08
100
Vazhakkala
60
40
100
Total
229
71
300
Interpretation
Positive response was collected by the respondents for the question about customer loyalty 77%, 92%
and 60% of the respondents replied yes for the question about customer loyalty. In this question also,
vazhakkala is lagging a bit and the reason may be because of the financial differences of the residents of
vazhakkala. This chart gives an affirmation to the previous assumption that reliance fresh has some
problems in reaching to the common man.
Even though majority of the respondents were loyal to reliance fresh, most of them used to visit other
stores too. Even the loyal customers had complaints about reliance fresh.
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Table 3: Availability of leaflet
Store Branches
yes
no
total
Edappally
62
38
100
Girinagar
81
19
100
Vazhakkala
62
38
100
Total
205
95
300
Interpretation
Most of the respondents said that they are receiving the leaflets. The negative response may be because
they are not caring the leaflets. But the positive respondents had an opinion that the leaflets are not so
regular nowadays. Even though an average of 70% of the respondents are receiving the leaflets and still
the customer footfall is too low. This shows that the promotional mix of Reliance Fresh which unduly
concentrates on leaflets is not working properly. It is high time to think differently.
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Table 4: Awareness of ‘Reliance One Loyalty Card’
Store Branches
yes
no
total
Edappally
92
08
100
Girinagar
96
04
100
Vazhakkala
80
20
100
Total
268
32
300
Interpretation
Almost all the respondents were aware about the reliance one loyalty card and the meager portion of
respondents who were not aware of the reliance one card were the customers who were not so
frequent in visiting the store. This shows that the customer loyalty programs of reliance fresh are
successful and reaching to the customers. Even in the midst of very high positive responses regarding
the awareness of the customer loyalty program of reliance fresh, vazhakkala offered only 80% of
awareness which is a bit low compared to 92% and 96% of Edappally and Girinagar respectively. This
confirms that residents of vazhakkala lags a bit in the awareness part and new promotional techniques
has to be implemented to capture the attention of residents of vazhakkala who are financially
backwards comparing to the another two localities.
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Table 5: Possession of ‘Reliance One Loyalty Card’
Store Branches
yes
no
total
Edappally
62
38
100
Girinagar
85
15
100
Vazhakkala
80
20
100
Total
227
73
300
Interpretation
Most of the respondents possessed a reliance one card and majority among those who don’t possess
lost their cards. Even though majority of the respondents have a reliance one loyalty card, the customer
footfall is declining, this points on the fact that the Loyalty program of reliance fresh is not influencing
the customers to come back to the store.
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Table 6: How often points are redeemed?
Store Branches
Very Frequent
Frequent
Somewhat Frequent
Less Frequent
Total
Edappally
00
04
19
77
100
Girinagar
00
14
45
41
100
Vazhakkala
00
09
27
64
100
Total
00
27
91
182
300
Interpretation
Survey reports show that the customers are not so concerned about redeeming the points and
collecting the offers. More attractive offers should be announced for the collected points or else the
importance of Reliance one cards in the minds of the customers will lose. Girinagar is the only locality in
which frequent redeeming has come up to at least 2 digits i.e. 14%. This shows that the interests of the
customers has deviated from offers and discounts as benefits of collecting points. Other interests of the
customers should be satisfied and only this can make the customer loyalty program more active.
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Table 7: Awareness of offers and discounts
Store Branches
yes
no
total
Edappally
63
37
100
Girinagar
69
31
100
Vazhakkala
64
36
100
Total
196
104
300
Interpretation
Awareness of offers and discounts have a very similar graph line throughout the three localities
under experiment. Most of the respondents here were aware of the different offers of reliance
fresh but the respondents generally were less concerned about the offers.
They were more concerned about facilities offered by the store.
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Table 8: Need for door delivery system
Store Branches
yes
no
total
Edappally
33
67
100
Girinagar
35
65
100
Vazhakkala
10
90
100
Total
78
222
300
Interpretation
Majority of the respondents were not interested in introducing door delivery system and they had the
opinion that the shop is near and accessible. So it is affirmative that the location of the store is not the
reason for its low customer footfall. Only an average of 26% has opted for door delivery system
combining the three localities while the rest of the respondents had the opinion that the location of the
store is convenient and accessible.
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Table 9: Product identification and ease of purchase
Store Branches
yes
no
total
Edappally
63
37
100
Girinagar
77
23
100
Vazhakkala
91
09
100
Total
231
69
300
Interpretation
Even though majority of the respondents replied positively for the question about product identification
the customers were not fully satisfied about the comfort of identifying products in the store. Constant
changes in the planogram of the store is considered as a drawback. This along with the congestion of
the store is making problems for older customers which is the majority in edappally and girinagar region.
91% of the customers have responded that purchasing is easy in Vazhakkala region. Only 63% and 77%
have responded positively for ease of purchase in edappally and girinagar. When this is viewed along
with the fact that vazhakkala store is bigger than the others, it is affirmative that store size is an
important determinant of “ease of purchase”.
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Table 10: Quality of Products
Store Branches
Excellent
Satisfactory
Poor
Total
Edappally
74
26
00
100
Girinagar
88
12
00
100
Vazhakkala
80
10
10
100
Total
242
48
10
300
Interpretation
Excellent response was collected from the respondents for the question about Product quality. Majority
of them rated the product quality of reliance fresh stores as excellent. 74%, 88% and 80% of the
respondents respectively in edappally, Girinagar and vazhakkala localities rated the product quality as
excellent. So, product quality is not a reason for the underperformance of these stores.
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Table 11: Staff assistance
Store Branches
Excellent
Satisfactory
Poor
Total
Edappally
48
22
30
100
Girinagar
88
08
04
100
Vazhakkala
27
18
55
100
Total
163
48
89
300
Interpretation
Mixed results have been obtained for the question about the quality of staff assistance. Very high
positive response for the girinagar store is a contradictory to the negative response in vazhakkala store.
In depth analysis shows that there is an inverse relationship between shop size and quality of staff
assistance. This may be because as the floor space increases, customers might have felt a lack of
adequate staffs. Many of the customers had the complaint that there is not enough staffs in the store
and they find difficulties in weighing staples like sugar.
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Table 12: Parking Facilities
Store Branches
Excellent
Satisfactory
Poor
Total
Edappally
11
30
59
100
Girinagar
08
24
68
100
Vazhakkala
25
33
42
100
Total
44
87
169
300
Interpretation
Poor parking facilities has been identified as one of the major reason for the underperformance of the
reliance fresh store. Majority of the respondents are with the opinion that the parking facilities of
reliance fresh are below par. This issue is one among the major reasons for the low customer footfall in
the stores.
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Table 13: Billing Counter Efficiency
Store Branches
Excellent
Satisfactory
Poor
Total
Edappally
04
67
29
100
Girinagar
04
50
46
100
Vazhakkala
00
27
73
100
Total
08
144
148
300
Interpretation
Billing counter inefficiency is the major problem of all the three stores. Most of the customers were
complaining too much about the time they are losing in the long Queues in front of the billing counters.
Many of the customers said that they are reluctant to purchase from reliance fresh in fear of waiting a
lot. Billing counter delay is extreme in vazhakkala as 73% of the customers rated the billing counter
efficiency of reliance fresh as poor. Only a meagre 3% of the total sample size rated the billing counter
efficiency as excellent.
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Table 14: Dependence on other stores
Store Branches
yes
no
total
Edappally
63
37
100
Girinagar
60
40
100
Vazhakkala
70
30
100
Total
193
107
300
Interpretation
63% of respondents in edappally, 60% of respondents in girinagar and 70% of respondents in vazhakkala
depend on other stores too for purchases. This is a clear indication that reliance fresh has failed to
obtain a clear market position in these localities and the promotional mix of reliance fresh has some
faults. These store are in need of some turnaround plans to bring back them into profit.
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Table 15.1: Major Competitors in Edappally
Stores
Preferred customers
Koya’s store
25 (40%)
Mithra Mart
22 (35%)
Big Bazaar
6 (10%)
Other local stores
10 (15%)
Total
63 (100%)
Interpretation
The survey points that majority of the respondents, i.e. 40% depend upon a local organized store named
koya’s store in edappally. The store is established years ago and many of the respondents have an
emotional attachment to that particular store. The second biggest competitor is Mithra mart with a
market share of 35% who outruns reliance fresh in respect of size and number of staffs. The
respondents from edappally also depended upon other local stores and Big Bazaar.
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Table 15.2: Major Competitors in Girinagar
Stores
Preferred customers
Spencers
26 (44%)
Supplyco
10 (17%)
Ashis
8 (13%)
Other local stores
16 (26%)
Total
60 (100%)
Interpretation
The survey points that majority of the respondents i.e. 44% depend upon spencer's which is a bigger
store in Girinagar. The store is bigger and offers faster billing facilities. Residents of girinagar then
depend upon other local kiranai shops than any other super markets. They said that they get their
products faster in these small stores even though they have to sacrifice in the quality part.
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Table 15.3: Major Competitors in Vazhakkala
Stores
Preferred customers
Priyom Mart
18 (26%)
Run 4 U
6 (09%)
Fathima’s Store
10 (13%)
Margin free market
12 (17%)
Other local stores
24 (34%)
Total
70 (100%)
Interpretation
34% of the customers are depending upon the local stores which are plenty in number in vazhakkala.
These local unorganized stores are having the major market share of vazhakkala. Local stores are
followed by Priyom Mart which has more availability of products and offers and better staff assistance.
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Figure 1: Major problems suggested by respondents in Edappally
Interpretation
Among the major drawbacks suggested by the respondents, congestion in the store and billing counter
delay occupied prominent places. Many customers had the suggestion to increase the shop space and
employ more staffs in billing counters on peak time.
Conclusion
Edappally is a location with lot of apartments and residential colonies. Majority of the respondents were
above middle class. Such that they are not concerned of the offers and discounts of reliance fresh. Most
of them are very busy employees who don’t have enough time to compare the offers of different stores.
What they prefer is quality service. They give great value for time and comfort. Faster billing and an
increase in shop space can make the Edappally store profitable.
44 | P a g e
Figure 2: Major problems suggested by respondents in Girinagar
Interpretation
Among the major drawbacks suggested by the respondents, congestion in the store, Poor parking facility
and non-availability of products occupied prominent places. Many customers had the suggestion to
increase the shop space and employ more staffs in billing counters on peak time. More availability of
products was recommended by the respondents.
Conclusion
Girinagar is a residential hub of Cochin City. Most of them reside in independent houses. Majority of the
respondents were rich and old aged couples. They prefer better facilities and more space than offers
and discounts. They are least concerned about loyalty card, points and other facilities. They require
more availability of products and quick and easy service.
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Figure 3: Major problems suggested by respondents in Vazhakkala
Interpretation
Staff assistance is identified as the only major problem of the reliance fresh store in vazhakkala. Even
though poor parking facilities, and constant changes in planograms were raised as problems. Staff
assistance was the major complaint. 80% and 70% of the customers were having complaints about lack
of adequate staff and billing counter inefficiency respectively. Non acceptance of sodexo, a discount
pass for employees was also pointed out as a drawback.
Conclusion
Vazhakkala is a region of residents with variety of natures and characteristics. Most of them requires
more customer friendly atmosphere in the store. Residents are satisfied and happy about the facilities
offered by vazhakkala store but they complain about staff assistance. It is also identified that the
exclusive offers provided by the local kiranai shop owners are a threat to the business of vazhakkala
store of reliance fresh.
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Common Problems Identified
In all the three stores, few customers are concerned about redeeming points. If the customer
loyalty program has to be effective, more customers should feel the importance of redeeming
points and the passion to collect points bring them back to the store.
Programs like elite club members, Special prizes for high points earning customers, Attractive
benefits for maximum redemption etc… should be introduced.
Staff assistance is a problem except for girinagar store. Lack of adequate staff is a common
complaint of the customers. More number of staffs should be appointed in the stores and
unique tasks should be entitled to each staff.
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The problem is that the existing staffs do not have a clear idea of their task. Each employ should
be assigned with a particular task and other employees should be trained take the customer to
the particular employee who can meet their requirement.
Poor parking facilities is identified as a major and common problem for all the sick stores. In a
city like Cochin, parking facility is a limitation which can’t be avoided. The only thing we can do is
to use the available space effectively. Staffs should be appointed to manage the car parking
facility. This allows more vehicles to be parked and reduces the inefficiency in parking facility.
Billing counter inefficiency, is identified as the most prominent among the drawbacks of the
reliance fresh stores. Most of the customers are reluctant to purchase from reliance fresh due to
the time they are losing in the long queues for billing.
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Experienced staffs should be appointed in the billing counters, and all the counters should be
working all the time. Express counters should be introduced for those customers with less than
5 or 10 items. Billing should be treated more scientifically and seriously, or else reliance fresh
will lose their valuable customers.
Majority of the respondents from the stores under experiment group are depending on other
stores too. Since the competition is too high. Reliance fresh will not be able to capture the major
market share without market positioning.
Customers are generally in need of better facilities, quality service and best products. Retail
stores generally are more concentrating on promotional mix and discounts. Instead of this,
experimenting on increasing the quality of service can bring more customers to the store.
49 | P a g e
Control Group Comparison
Interpretation
It is clear that Kalamassery store is way ahead of vazhakkala and edappally stores
in the case of staff assistance. This confirms that in edappally and vazhakkala
store, staff assistance is one among the many reasons for the low customer
footfall. Better staff assistance has lead kalamassery store into a profitable
position.
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Interpretation
Customers have very good opinion about the parking facilities of kalamassery
store. This may be the reason why customers residing in edappally also take pain
to ride to kalamassery and purchase items from there. So, the comparison
confirms that offering better parking facilities can improve the customer footfall
of the stores under experiment.
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Interpretation
The survey reports of kalamassery store very well describes why the customer
footfall of kalamassery store is way ahead of the three underperforming stores. It
is hereby proved that offering better billing facilities can improve the
performance of the store. Even respondents from edappally had the opinion that
they prefer kalamassery store than the store in their locality because of the faster
billing.
52 | P a g e
Interpretation
Kalamassery store has less percentage of customers depending upon other stores.
This shows that the above mentioned problems are the real reasons for the low
customer footfall in edappally, girinagar and vazhakkala. When compared with
kalamassery store, respondents gave a comparatively positive response for many
aspects including dependence on other stores.
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CHAPTER-5
FINDINGS, SUGGESTIONS &
CONCLUSION
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Findings
After the survey and detailed explanation of the reasons for the low customer footfall in the edappally, girinagar and vazhakkala stores of reliance fresh. The major findings of the survey is that:
1. Customers are more interested in better and quality service than
offers and discounts.
2. Customer loyalty program of reliance fresh through the reliance
one card is not much effective.
3. Reliance one card has not yet become a major reason for the
customers to come back to reliance fresh.
4. Staff assistance of reliance fresh stores are not up to the
expectations of the customers.
5. Poor parking facilities is also a reason for the low customer footfall
in the sick stores.
6. Billing counter inefficiency is identified as the major and most
common reason for the low customer footfall in all the three stores
under the study.
7. Congestion has made the customers reluctant to purchase from the
edappally and girinagar store.
8. Reliance fresh has not yet been able to establish clear monopoly in
any of the localities under study.
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SUGGESTIONS
(TURNAROUND PLANS)
For bringing back the sick stores into profit, reliance fresh has to layout some
turnaround plans immediately. Following are some of my suggestions based on my
findings:
1. Market Positioning
Retail industry in India is filled with giant players. It is a business with lot of
competition, the customers are having variety of options in front of them.
Customers prefer those stores who give them quality service. The contradictory
factor is that almost all of the retail stores are concentrating more on promotional
mix like leaflets, sms, special offers, discounts etc… huge amount is spend by
reliance fresh also on this. Since all the stores are offering the same, this kind of a
promotional mix is not giving any specialty to reliance fresh. Instead of spending
more on the promotional mix, reliance fresh should concentrate more on ‘market
positioning’. The survey clearly points that the customers are more interested in
better and faster service. If reliance fresh can position themselves in the market as
a retail store with faster billing, better and friendly staff assistance and enjoyable
shopping experience, it can bring in more customers to reliance fresh. After all in
this era of ‘caveat vendor’ (seller beware- Marketing concept). Business is all
about satisfaction of customers.
2. Satisfying the Esteem needs of customers. According to Maslow’s theory of motivation, the fourth need of a human being is
Esteem Need. Even after introducing lot of offers on the customer loyalty points,
collecting points and redeeming it has not yet become so important for the
customers. The major reason for it is that the customers are not interested in getting
a few amount as discount after collecting so many points. All human beings like
being accepted and valued, i.e. esteem need. Reliance fresh has to exploit this
esteem need of human beings. Instead of giving discounts on points, customers
who collected more points should be made felt that they are being valued.
Introducing programs like elite club membership for high point collectors, offering
up gradation to VIP cards for customers with high points. Sending personalized
greeting letters to loyal customers on festivals etc… make the customers feel that
they are valued and this satisfies their esteem need. This can attract the customers
to the store and probability of customers becoming more loyal increases.
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3. Using Express Counters for faster billing
In order to avoid one of the major drawbacks of reliance fresh i.e. the billing
counter inefficiency, what can be done is implementing a structurally arranged
billing procedure. Express counters should be implemented for those customers
with less than 10 items. This will prevent the drain of customers who fear of losing
time. Experienced staffs should be appointed in the billing counters and their task
should be exclusively billing only. In peak hours the store manager should be
always position him selves near the billing counters to meet any kind of
emergencies. Separate counters should be installed for different amount of
purchases. For e.g.: express counters for less than 10 items, counter for 1 box,
counter for more than 1 box etc…
4. Task fragmentation
Poor staff assistance has been identified as a problem in the stores especially in
edappally and vazhakkala stores. Appointing adequate number of staffs should be
the immediate response but the available staffs should be used more scientifically.
Task fragmentation should be implemented in the store i.e. each employee should
be assigned with a particular task. Customers should never feel the lack of staff and
the employees should be trained to guide the customer to the staff who can meet
his requirement. Offering good staff assistance can make the customers feel to
come back to the store.
5. Manage parking lots
Poor parking facility is a limitation which can’t be avoided in a city like Cochin.
The only thing that can be done is managing the parking facilities more effectively.
Security staffs should be trained to manage the available parking lots properly such
that maximum number of vehicles can be accommodated.
6. Zero space wastage
Another big problem of the low performing stores is congestion. The problem do
not have standing solutions for small stores such as edappally and girinagar other
than increasing the shop space. The only thing that can be done is reducing the
space wastage to the maximum extend. Unnecessary items like cartons and other
wastes should be immediately removed from the shop floor and a feel of
congestion should be avoided to the maximum extend.
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Conclusion
The three underperforming stores i.e. edappally, girinagar and vazhakkala were
considered as the experiment group and the better performing kalamassery store
was taken as the control group. The common problems identified earlier were
compared with the results obtained from the survey in kalamassery locality. The
control group comparison has given firm and proved results that Poor Quality of
Staff assistance, poor parking facilities, Billing counter inefficiency and
dependence on other stores are the major reasons for the low customer footfall in
the stores under the experiment group.
The project work has given an insight about the interests and expectations of the
customers of a retail store. It is identified that the marketing strategies of Reliance
fresh has certain flaws. The present promotional strategy of over concentration to
price mix should be changed and importance should be given to the facilities
offered in the store. A new kind of market positioning is inevitable and blindly
believing that people need lower prices will affect the business. Because the
customers in the new era are ready to pay for service and convenience.
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Appendix I
A Survey on the reasons for the sickness of Reliance Fresh Stores
Name: Place of residence:
Age: Family Members:
Sex: Employed Family members:
Monthly income: Occupation:
Awareness
1) Are you aware about the Reliance Fresh store near your locality?
Yes No
2) How do you know about reliance Fresh?
Press ads Leaflets Word of mouth others
3) Are you a loyal customer of Reliance fresh?
Yes No
4) Are you getting the leaflet regularly on Wednesday, Saturday and Sunday?
Yes No
5) Are you aware of the Reliance One Loyalty card offered in Reliance stores?
Yes No
6) Do you possess a Reliance One Loyalty card?
Yes No
7) How often do you redeem your points in Reliance One Loyalty card?
Very frequent frequent somewhat frequent Less frequent
8) Are you aware of the different offers provided by reliance fresh?
Yes No
9) Do you try to grab the opportunity when special offers are announced?
Yes No
Accessibility
1) Do you often visit the reliance fresh store near your locality?
Yes No
2) If yes, how often do you make purchases from reliance fresh?
Always Weekly Monthly Occasionally
3) Do you think a door delivery system is to be adopted by reliance fresh?
Yes No
4) Are you ready to pay a little amount extra as a fee for door delivery?
Yes No
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5) Is the Reliance fresh store near you located in a convenient and accessible location?
Yes No
Store Performance
1) Is product identification and purchasing easy in Reliance fresh store near you?
Yes No
2) Is it easy to read the product promotion hoardings kept in Reliance fresh?
Yes No
3) How do you rate the quality of the products in the Reliance fresh store near you?
Excellent Satisfactory Poor
4) How do you rate the staff assistance of Reliance fresh in your locality?
Excellent Satisfactory Poor
5) Do they possess required knowledge of products and other facilities of the store?
Yes No
6) Are they ready to help you?
Yes No
7) How do you rate the parking facilities of the Reliance fresh store near you?
Excellent Satisfactory Poor
8) How do you rate the billing counter efficiency of Reliance Fresh?
Excellent Satisfactory Poor
9) Which category of products in reliance fresh is you most attracted?
Vegetables FMCG Stationary Staples
Competition
1) Do you depend upon any other stores for your purchases than Reliance fresh?
Yes No
2) If yes, which store do you depend more?
More 4 U Big Bazaar Margin free markets
Local Stores (organized) Local Stores (unorganized) others
3) Why do you prefer that particular store than reliance?
………………………………………………………………………………………………
……………………….............................................................................................................
....................…………………………………………………………………………………
……………………………………………………………………………………………….
.
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4) How do you rate the offers and discounts in Reliance fresh compared to others stores in
your locality?
Excellent Satisfactory Poor
Mind set of customers
1) Are you comfortable with the facilities offered by reliance fresh?
Yes No
2) If no, what all are the shortcomings?
………………………………………………………………………………………………
………………………………………………………………………………………………
………………………………………………………………………………………………
………………………………………………………………………………………………
3) Do you think reliance fresh is a better replacement for the nearby mom and pop store?
Yes No
Unique problem of sick store
1) Do you prefer any other reliance fresh store than the store in your locality?
Yes No
2) If yes, why do you prefer the other one than the store in your locality?
………………………………………………………………………………………………
………………………………..……………………………………………………………
…………………………………………………………………..…………………………
…………………………………………………………………………………………….
3) What do you think is the major drawback of the reliance fresh store in your locality?
………………………………………………………………………………………………
………………………………...……………………………………………………………
………………………………………………………………………………………………
………………………………………………………………………………………………
………………………………………………………………………………………………
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Customer response
1) Please provide your suggestions and expectations to help Reliance fresh function better.
………………………………………………………………………………………………
………………………………………………………………………………………………
………………………………………………………………………………………………
………………………………………………………………………………………………
………………………………………………………………………………………………
………………………………………………………………………………………………
………………………………………………………………………………………………
………………………………………………………………………….
*****************************THANK YOU*******************************
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Appendix II
Kotler Philip; Armstrong Gary (2006). Principles of Marketing (6th
edition ed.). Dorling Kindersley Pvt. Ltd.
http://www.tenzor.co.uk/topic/corporate-turnaround/
Saunders M Lewis & Thornhill A (1999). Research Methods for
business studies (3rd Edition ed.). Financial Times/Prentice Hall.
Tom Lenahan (January 2, 2006). Turnaround, Shutdown and
Outage Management: Effective Planning and Step-by-Step
Execution of Planned Maintenance Operations
http://www.amazon.com/Managing-Maintenance-Shutdowns-
Outages-Levitt/dp/083113173X/ref=pd_sim_b_1/184-4506131-
9471524
http://en.wikipedia.org/wiki/Turnaround_management
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