Professional Documents
Culture Documents
Final Mcom Project
Final Mcom Project
BY
UNIVERSITY OF MUMBAI
TABLE OF CONTENTS
7 CHAPTER 3-
THEORITICAL VIEW OF
PARTICIPATIVE MANAGEMENT
9 CHAPTER 5-
CONCLUSION OF STUDY
10 BIBLIOGRAPHY & WEBLIOGRAPHY
DECLARATION
MASTERS OF COMMERCE
I would also like to thank the college for giving me this opportunity
for doing this project. I would also like to thank my family for
giving me the support to do the same.
INTRODUCTION
DEFINITION:-
The forms of workers‟ Participation in management depends on the differences in the levels of
management , the subject matter of participation , the strength of union and the pattern of
industrial relations. The important forms in which workers could participate in management are:
1. Collective Bargaining
2. Joint decision making
3. Consultation
4. Information sharing
They may take the form of formal organizations like work committee, joint management council
or an informal system. The example of an informal system is a supervisor consulting a worker
before taking any decision in which the latter is interested.
DIFFERENT VIEWS
The scope, extent and the successful working of the participative management depends to a great
extent on the objectives and the three important factors of the system of industrial relations i.e.
the employee, the employer and the government. The objectives as viewed by these three parties
contradict with each other in India. The workers expect that participative management schemes
will lead to the achievement security of employment, better wages, bonus, etc. The employers
„interest is in the maximization of profit through increased production and minimization of
expenditure. The government expects the scheme to bring about closer association between labor
and management and industrial peace. It is viewed that it is this variance in the objective of
participation as perceived by the three sectors that is responsible for the unsuccessful functioning
of schemes of participative management.
ABOUT THE REPORT
For completing the project both primary and secondary data were used.
Secondary data was collected from reference books and company‟s site.
CHAPTER LAYOUT
CHAPTER 1:
Information of the project and introduction of the title.
CHAPTER 2:
Profile of INTERACTIVE MULTIMEDIA TECHNOLOGIES.
CHAPTER 3:
Theoretical view of Participative Management.
CHAPTER 4:
Analysis on Participative Management with reference to INTERACTIVE MULTIMEDIA
TECHNOLOGIES.
CHAPTER 5:
Summary of the study.
CHAPTER 2
PROFILE OF THE COMPANY
Expertise
Their goal is to become your long term, IT partner. Their team becomes an extension of your
own in-house IT team, dedicated to meeting your software development needs today, and
growing with you as your need evolve. Their extensive and varied experience allows them to
offer their clients a wide range of systems and services which maximizes efficiency, increases
productivity and delivers security, while also being cost-effective and adding real business value.
At IMT, they design what they sell, deploy what they design, and support everything they
deliver.
They offer IT Solution, IT Enabled Services and Offshore Development Services.
It is their mission to empower clients and employees with tools to stand apart and steer business
and the company to the milestones envisioned. Their commitment spans every single IT
requirement that may arise. They take care of all customer IT- related operations, so that they can
dedicate their valuable time and resources in developing their core business.
Vision
Their vision is that their progressive ideologies and world-class expertise will always help them
to surpass limitations and stay at the forefront of their field. As leaders in the IT and ITES
industry, they believe that their responsibility to their clients goes Beyond Technology.
Success Journey
In less than a decade, IMT evolved from a 4-member team offering focused multimedia services
into a dynamic organization that caters to every single IT and communication requirement of
their clients.
The Inception
IMT's inception can be traced back to 1998, when interactive Multimedia expert Mr.Hetin
Sakhuja and Six sigma specialist Mr.Mehul Bavishi sparked the idea of starting a specialized
web development and graphic design company. Gradually, as the clientele grew, so did the range
of offerings; IMT soon began offering a wide variety of exclusive and progressive IT product
and services.
Era of Expansion
It wasn't long before IMT moved beyond the sphere of IT and launched its sister concern,
Sunshine Communication Pvt.Ltd., in 1999 to offer premium Advertising and Marketing
services. The synergy between these two units marked the beginning of continual expansion for
IMT. By integrating high standards of technological expertise with powerful communication
insights, IMT's scope of operations expanded phenomenally, opening up vast vistas of
possibilities of benefit their clients.
Looking Ahead
Today, IMT is one of India's fastest growing companies, offering a plethora of innovative
products and services to a wide spectrum of clients across the globe. With the progressive spirit
deeply ingrained in their team, one thing is for certain: they will continue to expand their range
of offerings and aspire to further height of innovation, progress and brilliance.
Team
IMT is powered by some of the brightest minds and most highly qualified professionals in the
industry. Their human resources are exceedingly valuable to them. It is their talent, enthusiasm
and constant pursuit for excellence that places them at the apex of their field.
At the helm of their organization are IMT India founder Mr. Hetin Sakhuja (Post-Graduate in
Interactive Multimedia) and Mr. Mehul Bavishi (an experienced Six Sigma Certified
Professional).Their vision ,business acumen, pioneering spirit and in-depth knowledge of the
business and technological spheres guide and inspire our team at every step of the way.
Equipped To Excel
The people at IMT bring in their distinctive sets of skills to generate a vibrant, idea-charged
working atmosphere that is grounded in technical know-how and incisive business sense. As
their team members pool together their areas of expertise, every project is led to high standards
of quality and innovation, as they are driven to develop products that they can be truly proud of
their team is divided into 5 sections, reflecting their core competencies:
Creative: Big ideas and spectacular presentations
Technical: Flawless operation and innovative implementation
Business Development: Inspired vision and new targets
PR And Administration: Reaching out to the world and securing our own
Management: Strategic planning and executive responsibilities
Work Culture
Every work day at IMT is all about ordinary people who believe they can make an extraordinary
difference. This mind-set forms the cornerstone of the IMT Culture .As an IMTian employees
shall be expected to meet day to day challenges with simplicity, while also imbibing creativity
and innovation in your approach. Their Team is empowered to be able confidently and
proficiently meet new challenges and provide rewards for their achievement.
Values of their Human Resource Management System
Vision-driven and value-based
Relationship built on openness and trust
People-oriented environment
Development of team culture
Achievement of a qualitative work life
Their people are their assets, essential to their success and therefore, they invest in them
accordingly. Their commitment to the team is aimed at developing their potential and helping
them achieve their goals with each other‟s support.
CHAPTER 3
THEORETICAL VIEW
Meaning of participative Management:-
The concept of Participative Management is closely related with the concept of industrial
democracy. Participative management means involving workers in the decision making process.
Participative management is based on the concept that when the worker invests his time and ties
his fate to the workplace, he should be given an opportunity to participate in the decision making
process of the management. The employee should be given an opportunity to express his view
and due importance should be given to them by the management while framing policies.
Participative management concept was first developed in Western countries and was very
successful. Therefore, it has acquired world-wide recognition and popularity.
DEFINITION:-
“Type of management in which employees at all levels are encouraged
to contribute ideas towards identifying and setting organizational-goals, problem solving, and
other decisions that may directly affect them.” It is also called as consultative management.
Participatory Management or co-determination is seen as the quick cure for poor morale,
employee attrition, low productivity and job dissatisfaction. However, it may not be
appropriate to empower employees at every level but use of joint decision making at
certain levels in organization can work wonders. Let us read further to explore the main
objectives to introduce participative style of management in organizations:
Make Best Use of Human Capital: Participative management does not restrict
organizations to exploit only physical capital of employees. Rather it makes the
best use of human intellectual and emotional capital. It gives employees an
opportunity to contribute their ideas and suggestions to improve business
processes and create a better working environment.
To Meet the Psychological Needs of Employees: When employees have a say
in decision making process, it gives them a psychological satisfaction. It is a
simple force that drives them to improve their performance, create a proper
channel of communication and find practical solutions to design better
organizational processes.
To Retain the Best Talent: Participatory management is one of the most
effective strategies to retain the best talent in the industry. It gives employees a
sense of pride to have a say in organizational decision making process. Once
they are valued by their seniors, they stick to the organization and become
management‟s partners in meeting specific goals and achieving success.
To Increase Industrial Productivity: In today‟s competitive world, motivation,
job security and high pay packages are not enough to increase industrial
productivity. Leadership, flexibility, delegation of authority, industrial
democracy and employee say in decision making are important to increase
annual turnover of any organization.
To Establish Harmonious Industrial Relation:
Participatory form of management is an unbeatable tact to establish and
maintain cordial relationships with employees and workers union. The
success of an organization depends on its human resources. Employee
empowerment acts as a strong force to bind the employees and motivate to
give them their best to the organization. To Maintain a Proper Flow of
Communication: Two-way communication plays an important role in the
success of any organization. Employee participation in decision making
ensures proper flow of communication in the organization. Everyone
contributes their best and tries to strengthen the organization by contributing
their best to improve business processes.
Increase in productivity:
Participative management stands for increased participation and when there are
many people involved in decision making, the process definitely slows down.
Inputs and feedback starts pouring from each side. It takes time to verify the
accuracy of measurements which means that decision making will be slowed
down.
Security issue:
The security issue in participative management also arises from the fact that since
early stages too many people are known to lots of facts and information. This
information may transform into critical information in the later stages. There is
thus a greater apprehension of information being leaked out.
The advantages seem to outnumber the disadvantages. This however is no assurance that
one should blindly adopt it for his/her organization. Organizations are different and
therefore the culture, the human resources. A deep understanding of both is required in
order to ascertain a decision making style and adopt the same.
.
SCOPE OF PARTICIPATIVE MANAGEMENT:-
The scope of participative style of management certainly depends on the organization, its
nature, functions and processes. Though associating employees at every stage of decision-
making is not possible still regular exchange of information, ideas, consultations, thoughts,
decisions and negotiations between employer and the employees definitely is a boon to the
organization. Few of the world‟s biggest organizations like Toyota, HSBC, British Airways,
Satyam, British Gas and Nokia Cellular have achieved considerable profits and value creation
by implementing the most amazing ideas of their employees. Their success witnesses the
importance of workers‟ participation in the process of decision-making.
However, if we talk about the scope of the workers‟ participation in social, if we talk about
the scope of social, economic and personnel decision-making, it may have a direct impact on
some of the most crucial activities of the organization. These three groups of managerial
decision-making can affect any industrial establishment in following ways:
SOCIAL DECISION-MAKING
It refers to employee involvement in decision making regarding hours of work,
rules and regulations at workplace, welfare measures, workers‟ safety, employee
welfare, health and sanitation. In this category, employees have a say in decisions
in these areas. They may take an advantage of their liberty and sometimes, can
dominate the management. Here the concept of bounded or restricted participation
can work well.
Economic/Financial Decision-Making:
It includes involvement of employees on various financial or economic aspects
such as the methods of manufacturing, cost cutting, automation, shut-down,
mergers and acquisition and lay-offs. Inviting ideas from employees on various
issues like how to cut down the operating cost can work wonders.
Personnel Decision-Making:
The employees‟ participation in personnel decision-making refers to their
involvement in various management processes including recruitment and
selection, work distribution, promotions, demotions and transfers, grievance
handling, settlements, voluntary retirement schemes and so on. Participation of
employees in these processes can safeguard their interests and motivate them to
work hard for the betterment of self as well as the organization.
Participative management means the employees are sharing their idea with chief level
management and taking whole responsibility regarding their job.
In the present scenario employees are allowed to share their idea, feeling with the management.
This is permitted mostly in corporate sector not private sector.
In many company this practice in going that is getting idea from the employee and
implementing the best idea.
The below example clarify this to you. In my current working organization, how it is happening
see in our corporate website there is separate link for writing the idea. Employee can log-in this
site by employee no and password and they can feed their idea
At any time. After that the management evaluates those ideas and the best idea will be selected
and implemented with help of the person who has given idea periodically.
The selected person will be awarded and published to all of the employees.
In India, the appeal of worker participation has derived from the utopian premises of the Indian
development model with this promise of rational planning and democratic processes. The
former strengthened the directive role of the government while the latter served as the medium
of interest group mobilization and mediation. Whatever positive role one may attribute to these,
in the absence of other structural changes they had, at best, negligible or uncertain consequences
in terms of favoring worker participation in management. One reason for this is that the cultural
and economic distances between management and labor, with little to take place were great,
with little to take place of weakened traditional authority structures. The government scheme for
worker participation, although beset by weaknesses, failed largely because the external
environment was inhospitable, and one may expect this to continue into the foreseeable future.
The Indian emergency of 1975 signaled a dramatic change, with a more explicitly top-directed
scheme. If made permanent, this would move Indian practice closer to that of the communist
countries, with an integrated structure of economic and industrial authority and provision for
modest but subordinate labor inputs in the decision-making process.
CHAPTER 4
I.M.T. Pvt.ltd gives utmost importance to participative management. They think that even if the
participative management is a time consuming process it should be implemented. They are of
this view because this enhances the employee-employer relation in the organization to a great
extent and helps in retention of the employees.
The company involves all the employees in the process related decision making. This involves
decision involving changes in attendance process, infrastructural changes, minor changes in
policy etc. The decisions which are related to the management are taken by considering the
opinion of the head of the department and the top management people. This process takes place
quarterly.
TENURE IN THE ORGANIZATION
5%
20%
75%
GRAPH 1
20% of the employees have been working in the organization for less than 3years while 75% of
the employees have been working for 3 to 5 years while only 5% of the employees have been in
the organization for more than 5 years.
WORKING ENVIRONMENT
10%
25%
excellent
satisfactory
dissatisfactory
65%
GRAPH 2
25% of the employees think that the working environment of the organization is excellent while
65% think it as satisfactory whereas 10% find it dissatisfactory.
SATISFACTION WITH MANAGEMENT POLICIES
40%
Yes
No
60%
GRAPH 3
60% of the employees are satisfied with management policies of the organization while 40% are
not satisfied with it.
RECOGNITION FOR SUGGESTIONS
30%
Yes
No
70%
GRAPH 4
70% of the employees agree that the organization gives recognition for their suggestions while
30% think that their suggestions are not given recognition.
DURATION OF SUGGESTION SCHEMES
All the employees in the organization replied that the suggestion schemes are held quarterly
which in accordance with the information given by the company.
Most of the employees here are of the view that the suggestion schemes should be organized
more frequently.
All the employees agreed that they are being involved in the decision making process.
This shows that the company really values the suggestions of the the employees.
EXTENT OF PARTICIPATION
The employees are involved only in the process related decisions. For e.g. decisions regarding
changes in the attendence systems, infrastructural changes and changes in the welfare schemes.
They are not involved in the management related decisions i.e. those decisions involving top
management.
RIGHT TO DECISION MAKING IN ABSENCE OF SUPERIOR
AUTHORITY
20%
Yes
No
80%
GRAPH 5
Only 20% of the employees are allowed to take decisions in absence of the superiors.
27%
Yes
No
73%
GRAPH 6
Only 27% of the employees are satisfied with level till which they are satisfied to take decisions.
70% of the employees think that they should have more rights of decision making.
TIMELY IMPLEMENTATION OF SUGGESTIONS
25%
Yes
No
75%
GRAPH 7
75% of the employees responded that the suggestions are not implemented on time while 25%
employees think that they are implemented on time.
METHOD OF SELECTION OF SUGGESTIONS
20%
Yes
No
80%
GRAPH 8
80% of the employees think that the method of selection of suggestion i.e. by voting is not
appropriate.
40% Yes
No
60%
GRAPH 9
60% of the employees think that their suggestions are treated fairly i.e. they are selected if they
are reasonable.
40% of the employees think that the organization favors only the suggestion of some of the
employees.
ABILITY TO CONTRIBUTE TO THE ORGANISATION
25%
Yes
No
75%
GRAPH 10
75% of the employees think that they are not able to contribute much to the organization.
25% of the employees are satisfied with whatever they are able to contribute.
SATISFACTION OF WORKING OF PARTICIPATIVE MANAGEMENT
25%
Yes
No
75%
GRAPH 11
75% of the employees are not satisfied with the working of the participative management in the
organization.
10%
5%
Yes
No
Maybe
85%
GRAPH 12
85% of the employees are not sure whether they see themselves working for a long term in the
organization.
10% employees are sure that they would work in the organization.
5% refused to work as they think that their suggestions are not valued and hence are dissatisfied
with their jobs.
FINDINGS
It is found that most of the workers stay in the organization for a span of only 3 to 5 years
as the company‟s motivation techniques are satisfactory.
The working environment is also satisfactory. The point of dissatisfaction is that they are
not being involved in the management related decisions.
It is found that the employees are not involved in the major decisions regarding policies
and plans of the management.
The company gives recognition to the suggestions of the employees. But these
suggestions are not implemented on time which creates problems in functioning of the
organization.
It is found that the suggestions schemes are conducted quarterly.
It is found that the employees are involved only in the process related decisions and not
in management decisions.
It is found that the employees do not have the right to take decision in absence of their
superiors.
It is found that the suggestions are selected by voting method in which there are chances
of manipulations.
It is found that the suggestions of some employees are favored which is quite
discouraging for other employees.
The employees feel that they are not able to contribute to the organization as they are
given limited rights of participation.
CHAPTER 5
CONCLUSION
Participative management is implemented so that the employees identify themselves with the job
and organization and this leads to improved motivation and enhanced task performance.
Participation leads to reduced conflicts and stress, more commitment to goals, better acceptance
of change, and improved communication. It is not difficult to explain why participation
motivates. It is almost a matter of commonsense that human beings will take greater pride and
pleasure in their work if they are allowed participatory freedom in shaping the policies and
decisions which affect their work.
RECOMMENDATIONS
The company should provide good motivation techniques to the employees. They should
be given due recognition for their job. This will help the organization to retain its
employees on a long term basis.
Along with the good working facilities and incentives the company should also create an
environment wherein the employees have more power of decision-making.
Even for the major decisions regarding policies and plans of the management employees
should be involved and should be provided with the right to give suggestions. This will
enhance the employee-employer relation to a great extent.
Only providing recognition to the Suggestions are not enough to make participative
management successful. It should be seen that the selected suggestions are implemented
on time. This will enhance the efficiency of the firm.
The suggestion schemes should more be conducted more frequently i.e. at least once a
month. This will help the company to take quick decisions.
Along with the process related decisions employees should also be made part of
management related decisions. This will give the employees a sense of security that their
supervisors have faith on them and thus will perform their best to contribute to achieve
the goals of the company.
The employees should also be given the right to take decisions in the absence of their
superiors. This will boost the employee morale and will give them a sense of
responsibility towards the organization.
The suggestions should be selected by discussions and not by voting as there can be
manipulations by voting method.
There should be no favorable attitude towards a particular employee. This will discourage
the other employees from giving suggestions and the company may lose out the best
suggestion in the process.
WEBILIOGRAPHY
www.hrm guide.com
www.hr-topics.com
www.spendloversearch.org.
ANNEXURES
QUESTIONNAIRE
h. Are you provided with the right of major decision making in the
absence of superior authority?
Yes
No
i. Do you think that the level till which you are authorized to take part in
decision making satisfactory?
Yes
No