Description
When we asked nearly 1,500 executives across the globe2 to tell us how they spent their time, we found that only 9 percent of the respondents deemed themselves “very satisfied” with their current allocation. Less than half were “somewhat satisfied,” and about one-third were “actively dissatisfied.” What’s more, only 52 percent said that the way they spent their time largely matched their organizations’ strategic priorities. Nearly half admitted that they were not concentrating sufficiently on guiding the strategic direction of the business. These last two data points suggest that time challenges are influencing the well-being of companies, not just individuals
ORGANISATIONAL STUDY REPORT ON TIME MANAGEMENT
MALANAD CO-OPERATIVE TEA FACTORY VAGAMON- IDUKKI (DIST) Submitted to the Mahatma Gandhi University, Kottayam in Partial fulfillment of the Requirements for the Award of the Degree of
BACHELOR OF BUSINESS MANAGEMENT
By
VINEETH K V
Reg.No.137175
Under the Guidance of
Mrs. RESMI GEORGE Faculty Guide & MR. M. M GEORGE Manager, MASCO TEA, Vagamon
DEPARTMENT OF BUSINESS STUDIES AND MANAGEMENT
ST.JOSEPH’S
COLLEGE MOOLAMATTOM
Mahatma Gandhi University, Kottayam
March 2011
DEPARTMENT OF BUSINESS STUDIES AND MANAGEMENT
ST. JOSEPH’S COLLEGE, MOOLAMATTOM
CERTIFICATE
This is to certify that Mr. VINEETH K V has undertaken the project work titled “A STUDY ON TIME MANAGEMENT AMONG EMPLOYEES OF MASCO TEA FACTORY”, in partial fulfillment of the requirements for the award of the Bachelor’s Degree in Business Management under my guidance and to the best of my knowledge, it is his original work.
Head of the Department
Faculty Guide
Examined and Assessed By
Examiner
Examiner
DECLARATION
I, VINEETH K V, do here by declare that this study at MALANAD COOPERATIVE TEA FACTORY (MASCO), submitted to Mahatma Gandhi University in partial fulfillment of the requirements of the award of the degree of Bachelor of Business Management is a record of the original study conducted by me under the guidance of Mrs. Resmi George, Department of Business Studies & Management, St. Joseph's College, Moolamattam and Mr. M.M.JOSEPH, manager MASCO.
I further declare that this study has not previously formed the basis for the award of any degree, diploma, associate ship, fellowship or other similar title of recognition.
Place:
Signature of the student:
Date:
ACKNOWLEDGEMENT
I wish to take this opportunity to express my sincere expression of gratitude to each & everyone who helped me in the completion of this work. First of all I thank God Almighty for giving me all the grace and assistance throughout my work. I am very glad to express my gratitude to
Rev. Fr. Gilson John, principal, St. Joseph's collage, Moolamattom, for his timely help all through my work. I am greatly thankful to our Head of Department Dr. V .P Thomas for his support and encouragement. I treasure the generous help offered by Mrs. Resmi George, my faculties guide whose valuable guidance and suggestions have helped me through out this project. I would like to place my graceful thanks to
Mr. M.M.JOSEPH, Manager of MASCO. I also extent my gratitude to my dear friends for their co-operation in completing the project neatly.
VINEETH K V
CONTENTS
CHAPTER
TITILE LIST OF TABLES LIST OF CHART LIST OF GRAPHS
PAGE NUMBER i. ii. iii.
1. INTRODUCTION 2. THEORETICAL FRAME WORK 3. PROFILE OF THE COMPANY 4. 5. DATA ANALYSIS AND INTERPRETATION FINDINGS AND RECOMMENDATIONS APPENDIX BIBILIOGRAPHY 13 22 41 47 48 7-13 1-6
LIST OF TABLES
Graph No
Title
Page No
3.1 3.2 3.3 3.4 4.1 4.2 4.3 4.4 4.5 4.6 4.7 4.8
Indian tea statistics Indian exports Tea production Offices of Tea Board Classification of sample on Basis of age Classification of sample on Basis of monthly income Statement wise classification of sample I am aware of deadlines and schedule my work to meet their in plenty of work. I write down specific objectives in order to work towards goal I use a calendar to write down appointments, deadlines, things to do general notes. I feel in control of time while at work and at home. I plan and schedule my time on a weekly/ monthly basis
4.9
I make a daily –to –do list and refer it to several times per day. I am able to say ‘No’ when I am pressed for time I try to delegate responsibility to others in order to make more time for myself I organize my desk and work area to prevent clutter and confusions. I find it easy to eliminate or reschedule low priority items I try to do things in away that cuts down on duplicated efforts I find that doing everything I am very inefficient. I try to shift priorities as soon as they change
4.10
4.11
4.12
4.13 4.14 4.15 4.16
4.17
My meeting and activities are organized and efficient
LIST OF GRAPHS
Graph No
Title
Page No
4.1
Classification of sample on Basis of age
4.2
Classification of sample on Basis of monthly income
4.3
Statement wise classification of sample I am aware of deadlines and schedule my work to meet their in plenty of work. I write down specific objectives in order to work towards goal I use a calendar to write down appointments, deadlines, things to do general notes. I feel in control of time while at work and at home. I plan and schedule my time on a weekly/ monthly basis I make a daily –to –do list and refer it to several times per day.
4.4
4.5
4.6
4.7
4.8
4.9
4.10
I am able to say ‘No’ when I am pressed for time I try to delegate responsibility to others in order to make more time for myself I organize my desk and work area to prevent clutter and confusions. I find it easy to eliminate or reschedule low priority items I try to do things in away that cuts down on duplicated efforts I find that doing everything I am very inefficient.
4.11
4.12
4.13
4.14
4.15
4.16
I try to shift priorities as soon as they change
4.17
My meeting and activities are organized and efficient
CHAPTER – 1
INTRODUCTION
INTRODUCTION
Time is the most important and precious resource available to the mankind to be utilized instantly. It doesn’t wait for anybody whosoever is the person. We can also say time when utilized appropriately to the maximum extend can give amazing results. Incase of a manager, it is the most precious resource available. The maximum utilization of the time in a day should be the adored principle, one who kills time, kills his and his company’s progress time is the resources equally available to each one of us. There is no unequal distribution of time. Mangers employees and workers should understand the importance of time. With the background of the scenario of economic recession.
People waste time and then complain about its shortage, of time is wasted work will suffer. Work goes on increasing with time. Every second I precious worth of time should been taught to the executives, employees and workers. If it is wasted, Then it becomes costly its wastage adds to cost.
Time being the most important resource, its value must be understood by one and all. It is more important than money and other material resources. It is, therefore, necessary to manage time skillfully. Time is divided into past, present and future. Present is the most important of time. It’s like ready cash hence it must be used immediately with effective management. Those who utilize time properly are time conscious they reach their office on time such people and executives command respect.
On the contrary, there are many who are never on time, to them being light and wasting time add to their prestige so that people should say they are the busiest persons. The success and failure of executives depends on proper use of time. Being one of the most important resources it must be saved from prolonging the unnecessary meetings and useless chats with colleagues and friends to use it for more purposeful tasks. On completing the task on time, if exhausted, he should take rest .What we have to keep in mind is that it is not up to how much of time we have used, it lies on the quality of work we have done. Time management is commonly defined as the various means by which people effectively use their time and other closely related resources in order to make the most out of it. In business, time management has morphed in to everything from methodologies such as Enterprise Resources planning through consultant services such as professional organizers. When we think of time management, however, we tend to think of personal time management, loosely defined as managing our time to waste less time on doing the things we have to do so we have more time to do the things we want to do. Generally, time management refers to the development of processes and tools that increase efficiency and productivity. Any people mistake time tracking for time management. They religiously keep track of everything they do each day, for weeks or even months. And then they stop doing it because they haven’t realized any positive changes. But keeping track of how you spend your time isn’t time management. Time management is about making changes to the way you spend your time.
Keeping track of your many daily activities is just a preliminary step to effective time management. The first step of time management is to analyze how you actually spend your time so you can determine what changes you want to make. This is where many people’s attempts at time management fail. They look at specific day in their Day-Timer or Outlook calendar or on their palm which is packed with activities from 8 a.m. to 5 p.m. or 5 p.m. to 8 a.m. and don’t know what to do with it. So they fall back on the tried and true techniques and eliminate a few events and prioritize others. But they haven’t really managed anything; they’ve just rearranged it. All the perceived problems and frustrations of the day’s activities are still there and at the end of their they’re still frazzled and frustrated. The needs for time management for the corporations arise because of fast changing world. Everything is moving fast. The competition is increasing day in and day out. Executives must be time conscious. They have to take decisions quickly and on time. The delays in taking decision may push the companies back. Corporation should use the modern technologies as and when they are available. This is all possible if time is perfectly worked. The globalization of trade and economic liberalization has increased need for management.
SIGNIFICANCE OF THE STUDY
This study is intended to enquire into the management of time by employees of MASCO TEA FACTORY. The problem is stated as “a study on time management among employees of Masco tea factory”.
OBJECTIVES OF THE STUDY
The specific objectives of the study are: ? To know whether the employees of Masco tea factory have enough knowledge about the importance of time management ? To study various measures instituted in the company for an effective management of time in the area of work ? To know how work is related with time ? To interpret whether they use and manage there time effectively ? To suggest some guidelines to manage the time effectively in work
METHODOLOGY OF THE STUDY
Study is based primarily on survey data. For the purpose 40 respondents from the company under study are identified randomly from the lists supplied by the company. A structured questionnaire is utilized to explore information’s from the sample respondents. The questionnaire was personally presented before the respondents. It contains 20 statements concerning different variables involves in the management of time. Four alternatives were given for each statement viz.., Always, Usually, Sometimes and Rarely. Data are analyzed on the basis of number of respondents but also total scores. All efforts are made to ensure the reliability of information by cross checking and asking alternative questions, the data collected are analyzed by using appropriate statistical and mathematical tools. Data are classified and tabulated mainly on the basis of departments such as production marketing, finance, personnel, quality control and sales. Percentages are used to analyze data.
SCOPE OF THE STUDY
Time management have a great a scope to develop a sense of responsibilities an dignity among the workers enabling them to be worthy and enlightened citizens. All such aspects help to reduce stress by completing work on time and ensuring appropriate intervals which helps to reduce strikes and facilitate harmony and peace in the industrial organization. Employees are very important persons in an organization and they lead to achieve the goal in the organization. Proper time management helps to increase the morale and attitude of the workers.
It is some what difficult to accurately lay down the scope of time management, especially because of the reason that workers are dynamic with complex attitudes. The scope of time management can be interpreted in different ways by different countries with varying stages of economic development, political outlook and social philosophy.
LIMITATION OF THE STUDY
? Due to the time limitations and other constrains the research could be conducted among limited number of respondents. ? It was very difficult to stipulate the time of the workers because the workers and staff are very busy with their work. ? Most of the respondents co-operate with me but some of them were not aware of this study.
CHAPTER – 2
THEORETICAL FRAMEWORK
CONCEPT & MEANING OF TIME
Time is the most important and precious resources availed to the man to be utilized instantly. If it is passed it is gone. It does not wait for anybody whosoever is the person. It is the most precious resources available to the manager. It must therefore be utilized properly without wasting it. The maximum utilization of time in a day should be adored principle, one who kills time, kills his and his company’s progress. Managers, employers, and workers should understand the importance of time. People waste time and then complain about its shortage. If time is wasted work will suffer. Work goes on increasing with time. If each second is utilized appropriately, work gets completed at proper time. So every second is precious.
Why Is Time Management Important?
Here are the top reasons why time management is of great importance to your personal and career success: 1. Time is limited. Time is a very special resource in that you cannot store it or save it for later. Everyone gets the exact same amount of time each and every day. If you don’t use your time wisely, you can never get it back. 2. Time is scarce. Most feel like they have too much to do and not enough time. Lack of time is blamed for everything from not getting enough exercise, poor finances , unachieved goals too much stress, bad relationships, and even an unfulfilled life. Time management helps you use the time that you do have in better ways.
3. You need time to get what you want out of life. You need time to do almost anything worthwhile in life. Waiting for more free time is a losing game that almost never results in getting time for what you want. You need to learn how to make time for the things that are important to you. Even if you can only afford to give a small amount of time each weak to your goals, you’d be surprised at how much progress you can make. 4. You can accomplish more with less effort. When you become more productive using improved time management skills and tools, you can accomplish more with less effort. Reducing wasted time and effort gives you even more productive time throughout the day. Both of these allow you to make time for a wide range of activities that bring more balance and fulfillment to your life. 5. Too many choices. In this day and age, there are so many ways you can spend your time that you need some sort of plan to make intelligent choices. Time management helps you make conscious choices so you can spend more of your time doing things that are important and valuable to you.
Proper Utilization of Time
The effective time management of time and its proper utilization of time the maximum work should be completed within a minimum time. Though it should be ensured that work should not be rushed, leading to committing errors and even fatigue. To achieve effective management of time, following are the ways for proper utilization of time.
? Planning of work
This is the first step in management of time and its proper utilization. An executive must plan the work effectively. Before going to bed, he must chalk out his next day programmers. He should also plan for a week, month, or even a year. At least he should take a mental of his plan in the nearby future. And also since he is playing various rules in his life as a father, son, brother, official etc… he should allot his time responsibly among his roles. The thing to be remembered is to give more importance to important roles.
? Assigning priorities to the work to be done
For the completion of work on time one should assign priorities to the different works to be completed in a day. Important tasks are to done first. This helps to finish priorities tasks first.
? Delegation of Authority
No manager can perform all the work himself however efficient may he be. He has to delegate authority to his subordinates to ensure the work to be done in the given time. And also he can concentrate on more urgent works. No delegation amounts to wasting of time. Delegation helps an executive to utilize time effectively and get the work done to the maximum.
? Target setting
Executive must know what he has to achieve. He should set a target first what he wants to accomplish in a day and then he can distribute activities by distributing amongst his subordinates and himself for the completion of work.
? Simplify procedures
Procedure for attaining work should be very simple and understandable by everyone working with the executives and under them too. Minimize the steps in procedure so that time is saved. Adopt ideal work methodology which is time saving. Try to avoid complex procedure consuming extra time.
? Be comfortable
One should be at ease and comfort when at work and even at home. He should sit in a comfortable sitting position so as to avoid any body ache or strain. It will increase the pauses and breaks in the work. Being comfortable can avoid stress and hence saves time that can be used outperforming much important jobs.
? Clubbing of identical work
The work of similar nature can be clubbed together and be completed at the same time instead of allotting separate time for such work. Hence lot time is saved that can be used for much priority tasks.
? Taking quick decisions
Taking quick, effective decisions saves a lot of time. Avoid indecisiveness leads to more wastage of time. Never put off today’s work for tomorrow because tomorrow never comes.
? Take sufficient rest
Continuous work leads to excretion and fatigue. This will result in lot of problems like, lesser concentration, tiredness etc… so it is necessary to have enough pauses and breaks to revitalize a person. And
then he can work with interest. Taking such rest is not a waste of time but investment of time into future work.
Time Wasters
There are several aspects that waste time. They may be summed up as;
1. Travel
Travelling is one of the major time waster’s. Travels without again time can be used for much fruitful reasons. a purpose are unnecessary and they should avoid such journeys. Here
2. Sipping Tea Some people fancy and are addicted to tea drinking. They sip tea at all time. So the time that has to be spending on much important tasks will spend around coffee stalls and cafes. Another evil arising is the tea chat which we can witness in much of the organization. They talk and gossip while drinking tea and neglect their works.
3. Formal meeting
Meetings are a part of corporate culture. Meetings are conducted very often to discuss issues and matters. Many of the formal
meetings conducted in the office end with unworthy discussion. These results in wastage of time.
4. Telephone
Though telephones are one of the most important means of communication, it has also become a time waster in many times. This means of communication meant for conveying important messages, instructions, orders, decisions etc… but when it is used for unworthy conversations, it becomes a time waster.
5. Filing and record keeping
Filing of papers and record keeping is essential for systematic maintenance of records. So that required papers and files can be easily traceable. If papers are kept in wrong files and they are not placed at proper places, which usually happen in most of the offices, then a lot of time is wasted in search of them. Proper filing and record keeping is essential for smooth working and time saving.
6. Paper work
Paper work consumes a lot of time. Many people issue lot of unnecessary memos, reminders very often. Most of this work can be finished with personal discussions. Issuing letters of all kinds
consume a lot of time. Minimizing paper work will reduce a lot of time.
CHAPTER – 3
PROFILE OF THE COMPANY
COMPANY PROFILE
HISTORY
Masco Tea - an Organic Tea manufactured from the beautiful landscape of Vagamon, a small town in the mountains of Kerala in South India. MALANAD SERVICE CO-OPERATIVE BANK LTD, which was established in 1970 under the Chairmanship of Mr. Cherian Abraham, under took a prestige project, a Tea Processing Unit with an aim to save the poor member farmers to get an adequate price for the green tea leaves. In 1995 they started to produce tea leaves. But there were several hurdles waiting for them and after suffering severe setbacks, the bank authorities decided to set up a tea factory by it. On 02.11.2000 the society started the new venture, Tea Processing Unit at Vagamon and for thousands of farmers, this was a ray of hope and a dream come true. In 1995 on words they started to produce tea leaves .They were forced to sell their all leaves to private factories of this area at very low price not even substantial. During peak season, they were compelled to sell their green tea leaves even for Rs.2/-kg., not even the labour cost incurred for this.
This scenario tempted bank authorities to set up a tea factory. At this time integrated Co-operative Development Project under the leadership of Mr.M.M.Rajappan, the present General Manager, Idukki District Co-operative bank came to rescue of Malanad Service Co-operative Bank. On 02-11-2000 the society started the new venture, the tea-processing factory at Vagomon, which is the first type in India. By starting this novel venture the society is able to give a fair price to the farmers. Now the farmers get Rs.7/-Kg if green leaf which Rs. 2.50 above than that of private tea factories. They made tea under the Brand Name MASCO TEA is familiar to majorities of households of Kerala. The tea is marketed through Kerala State Co-operative Consumer Federation through its Neethi stores and Supermarkets besides auction centers. The factory has an installed capacity of 600 tones made tea per year. During 2002-2005 the factory achieved the full utilization of its capacity. For the last 3 consecutive years, the factory is working in profit.
ABOUT THE BANK
The Malanad service co-operative bank ltd.Vagamon under whose control the tea factory is proposed to be set up is a co-operative society registered under Co-operative society’s act of 1969 and its registered number is K-340.This area of co-operation of this service co-operative bank extends to the village, panchayath and this Co-operative Bank is already functioning well in the Idukki Distrct. This company was registered on 28 March 1970 and it started its business on 19.04.1970.This bank is considered to be one of the best working co-operative credit institutions in the state of Kerala. The head office of the bank
is at Vagamon. The bank has 3 branches viz, Vagamon, Elappara, Pasuppara. The bank also runs 3 man use outlets, the consumer stores and one coffeecollecting agency.
INDUSTRY PROFILE
History of Tea Tea is nearly 5,000 years old and was discovered, as legend has it, in 2737 B.C. by a Chinese Emperor when some tea leaves accidentally blew into a pot of boiling water. In the 1600s, tea became popular throughout Europe and the American colonies. Since colonial days, tea has played a great role in American culture and customs. Today American schoolchildren learn about the famous Boston Tea Party protesting the British tea tax — one of the acts leading to the Revolutionary War. During this century, two major American contributions to the tea industry occurred. In 1904, iced tea was created at the World's Fair in St. Louis, and in 1908, Thomas Sullivan of New York developed the concept of tea in a bag. Tea breaks down into three basic types: Black, Green, and Oolong. In the U.S., over 90 percent of the tea consumed is black tea, which has been fully oxidized or fermented and yields a hearty-flavored, amber brew. Some of the popular black teas include English breakfast (good breakfast choice since its hearty flavor mixes well with milk), Darjeeling (a blend of Himalayan teas with a flowery bouquet suited for lunch) and Orange Pekoe (a blend of Ceylon teas that is the most widely used of the tea blends). Green tea skips the oxidizing step. It has a more delicate taste and is light green/golden in color. Green tea, a staple in the Orient, is gaining popularity in the U.S. due in, part to recent,
scientific studies linking green tea drinking with reduced cancer risk. Oolong tea, popular in China, is partly oxidized and is a cross between black and green tea in color and taste. While flavored teas evolve from these three basic teas, herbal teas contain no true tealeaves. Herbal and "medicinal" teas are created from the flowers, berries, peels, seeds, leaves, and roots of many different plants STORY OF TEA Story of tea began in ancient China over 5,000 years ago. According to legend, the Shen Nong, an early emperor was a skilled ruler, creative scientist, and patron of the arts. His far-sighted edicts required, among other things, that all drinking water be boiled as a hygienic precaution. One summer day while visiting a distant region of his realm, he and the court stopped to rest. In accordance with his ruling, the servants began to boil water for the court to drink. Dried leaves from the nearby bush fell into the boiling water, and a brown liquid was infused into the water. As a scientist, the Emperor was interested in the new liquid, drank some, and found it very refreshing. Therefore, according to legend, tea was created.
Global Tea Industry The global tea industry is largely dominated by India - the largest producer and consumer of tea. India is followed by China, Sri Lanka, Kenya and Indonesia in the production hierarchy of countries.
The tea industry is peculiar: the soil characteristics, the climate and the rainfall determine the character of the tea and its taste. Tea affects the taste buds; therefore, it is difficult to replace a particular variety with a substitute. This
explains why certain types are favored by certain countries: for example, the CIS countries favour Indian and Sri Lankan teas. UK and Pakistan favour Kenyan teas.
India accounts for 30 per cent of world's production. While Sri Lanka, Kenya and Indonesia are the other leading producers; their combined production is lower than that of India. What makes India an interesting object of study is that its size is no millstone around its neck; its production growth between 1996 and 1998 at 5.63 per cent was way ahead of the increase in world production of one per cent only. The Asian region produces a varied range of teas and this, together with a reputation in the international markets for high quality, has resulted in her enjoying a share of every importing market in the world. Africa and South America also produce tea. Huge populations of Asia, the British Isles, Middle Eastern countries, Africa, and all the countries of the former Soviet Union, take tea throughout the day. Tea is a beverage made by steeping leaves in boiling water. The common tea plant is the evergreen shrub Camellia sinensis. There are several varieties of this species of plant, a well known one being the Indian Assam tea traditionally; tea is prepared from its dried young leaves and leaf buds. Although China is credited with introducing tea to the world, the evergreen tea plant is native to Southern China, North India, Myanmar and Cambodia. Low-grown teas are produced from 0 to600 m., mid-grown from 600 to 1,200 m, while the high-grown teas are cultivated between 1,200-2,000 m. The mid-grown and the high-grown in some areas can be divided into 'western' and 'eastern' according to the location of the estates. High-grown teas have a bright Hquor and superb flavor. This superior quality is caused by the cooler
temperatures at these altitudes which induces lower growth than in the hot, moist, low country. The seasonal monsoons, of course, also greatly affect the quality of tea (Anon. 1996).
Although there are a growing number of countries producing teas, in a multiplicity of blends, there are in fact only three main types of Camellia tea, green, 'oolong', and black. The difference lies in the 'fermentation', which actually refers to oxidative and enzymatic changes within the tealeaves, during processing. Green tea is essentially unfermented Oolong tea is partially fermented and black tea is fully fermented. Black tea, which represents 90% of international trade, yields an amber colored, full-flavor liquid without bitterness (Antol 1996; Marchant 1996). In addition to these conventional teas, many countries of Asia have a number of herbal teas ,made from brewing plant leaves, or other plant parts including flowers. For example, Gymnema sylvestre a member of the botanical family Asclepiadaceae, found mainly in India, has been used as a healthy and nutritive herbal tea which claims to have a number of medicinal properties (Chomchalow 1996). Numerous other herbal teas are gaining more and more popularity recently. Both orange pekoe and pekoe are black teas. The term 'pek-ho' is Chinese for 'white hair'or 'down', and refers to the golden-tipped Assam teas. Orange pekoe is made from the very young top leaves and traditionally conies from India or Sri Lanka; Pekoe comes from India, Indonesia or Sri Lanka and is made from leaves even smaller than those characteristically used for orange pekoe.
An Overview of the Indian Tea Industry
INDIAN TEA INDUSTRY The tea industry in India is about 170 years old. It occupies an important place and plays a very useful part in the national economy. Robert Bruce in 1823 discovered tea plants growing wild in upper Brahmaputra Valley. In 1838 the first Indian tea from Assam was sent to United Kingdom for public sale. Thereafter, it was extended to other parts of the country between 50's and 60's of the last century. However, owing to certain specific soil and climatic requirements its cultivation was confined to only certain parts of the country. Tea plantations in India are mainly located in rural hills and backward areas of Northeastern and Southern States. Major tea growing areas of the country are concentrated in Assam, West Bengal, Tamil Nadu and Kerala. The other areas where tea is grown to a small extent are Karnataka, Tripura, Himachal Pradesh, Uttaranchal, Arunachal Pradesh, Manipur, Sikkim, Nagaland, Meghalaya, Mizoram, Bihar and Orissa. Unlike most other tea producing and exporting countries, India has dual manufacturing base. India produces both CTC and Orthodox teas in addition to green tea. The weightage lies with the former due to domestic
consumers' preference. Orthodox tea production is balanced basically with the export demand. Production of green tea in India is small. The competitors to India in tea export are Sri Lanka, Kenya, China, Indonesia and Vietnam.
Tea is an agro-based commodity and is subjected to vagaries of nature. Despite adverse agro climatic condition experienced in tea growing areas in many years, Indian Tea Plantation Industry is able to maintain substantial growth in relation to volume of Indian tea production during the last one decade. There has been a dramatic tilt in tea disposal in favour of domestic market since fifties. While at the time of Independence only 79 M.Kgs or about 31% of total production of 255 M.Kgs of tea was retained for internal consumption, in 2006 as much as 771 M.Kgs or about 81% of total production of 956 M.Kgs of tea went for domestic consumption. Such a massive increase in domestic consumption has been due to increase in population, greater urbanization, increase in income and standard of living etc. Indian tea export has been an important foreign exchange earner for the country. There was an inherent growth in export earnings from tea over the years. Till 70s', UK was the major buyer of Indian tea Since 80s' USSR became the largest buyer of Indian tea due to existence of the trade agreement between India and erstwhile USSR. USSR happened to be the major buyer of Indian tea accounting for more than 50% of the total Indian export till 1991. However, with the disintegration of USSR and abolition of Central Buying Mechanism, Indian tea exports suffered a set back from 1992-93. However, Indian Tea exports Russia/CIS countries recovered from the setback since 1993 under Rupee Debt Repayment Route facilities as also due to long term agreement on tea entered into between
Russia and India. Depressed scenario again started since 2001 due to change in consumption pattern, i.e. switch over from CTC to Orthodox as per consumer preference and thus India has lost the Russian market. Another reason for decline in export of Indian tea to Russia is offering of teas at lower prices by China, South Asian countries like Indonesia and Vietnam. The major competitive countries in tea in the world are Sri Lanka, Kenya, China and Indonesia. China is the major producer of green tea while Sri Lanka and Indonesia are producing mainly orthodox varieties of tea. Kenya is basically a CTC tea producing country. While India is facing competition from Sri Lanka and Indonesia with regard to export of orthodox teas and from China with regard to green tea export, it is facing competition from Kenya and from other African countries in exporting CTC teas. Because of absence of large domestic base and due to comparatively small range of exportable items, Sri Lanka and Kenya have an edge over India to offload their teas in any international markets. This is one of the reasons of higher volume of export by Sri Lanka and Kenya compared to India. Another important point is that, U.K has substantial interest in tea cultivation in Kenya. Most of the sterling companies, after Indianisation due to implementation of FERA Act started tea cultivation in Kenya. So, it makes business sense for U.K. to buy tea from Kenya and Kenya became the largest supplier of tea to U.K.Tea is an essential item of domestic consumption and is the major beverage in India. Tea is also considered as the cheapest beverage amongst the beverages available in India. Tea Industry provides gainful direct employment to more than a million workers mainly drawn from the backward and socially weaker section of the society. It is also a substantial foreign exchange earner and provides sizeable amount of revenue to the State and Central Exchequer. The total turnover of the Indian tea
industry is in the vicinity of Rs.8000 Crs. Presently, Indian tea industry is having (as on 31.08.2010) ? 1655 registered Tea Manufacturers, ? 2008 registered Tea Exporters, ? 5148 number of registered tea buyers,
? Nine tea Auction centres.
India has long held the title of being the largest tea producer and consumer in the world. Though traditionally exports have been the engine for growth (and profits), the collapse of India's biggest customer (USSR) exposed India's 35% by volume. Hindustan Lever (HLL) leads with around 43-45% market share of the packaged tea market, while Tata Tea is the No. 2 with around 17-18% market share. Apart from these two players and Duncans, the market is extremely fragmented with many smaller /regional players. Here are some statistical facts about the Indian Tea Industry: ? The total turnover of the tea industry is around Rs. 10,000 crores. ? Since independence tea production has grown over 250%, while land area has just grown by 40%. ? There has been a considerable increase in export too in the past few years. Total net foreign exchange earned per annum is around Rs. 1847 crores. ? The labour intensive tea industry directly employs over 1.1 million workers and generates income for another 10 million people approximately. Women constitute 50% of the workforce.
The world leader India is the largest producer and consumer of tea in the world. India also leads in global R&D in tea industry. India is the largest manufacturer and exporter of tea machinery. Other major tea producers (also developing nations) source equipment and technology from India. The tea plantations were started in the middle of the 19th century under the British management. The farm ownership, however, is fragmented. The listed companies account for about 40% of total tea production. Also, there are a large number of small players. Some 80% of the farms are of the size less than 8 hectares and contribute only 10% of the production. The annual per capita consumption in India is low at 650gm compared to other countries like Pakistan (950gm), Sri Lanka (1.2kg), UK (2.5kg) and Ireland (3.16kg).
Indian tea statistics
Year 1995 1996 1997 1998 1999 2000 2001 2002 2003 Area 000hector 407.6 411.3 414.3 415.0 416.3 420.5 420.3 418.4 426.0 Prodn mnkg 620.8 665.3 600.0 688.1 720.3 754.2 732.3 760.8 752.9 Yield kg/hector 1523 1617 1689 1658 1731. 1794 1742 1819 1768 Exports mnkg Rsmn 204.3 5900.1 202.8 201.7 212.7 210.0 202.9 175.0 175.3 150.7 6465.6 6190.0 8489.8 11133.5 11345.5 9953.3 11612.6 9891.3 Price 1 Rs/kg 28.9 31.9 30.7 39.9 53.0 55.9 56.9 66.2 65.6
2004 2005 2006 2007 2008 2009(E)
427.1 429.7 432.3 445 450* n.a
756.0 780.0 810.6 870.4 805.6 875
1770 1815 1875 1956 1800 n.a Table 3.1
168.0 161.7 196.40 206.10 190.20 225
12080.2 12468.7 17308.1 23090 18486 n.a
71.9 77.1 85.3 76.91 74.78 n.a
Indian Exports
Name of the country
2007
Qty(mnKgs) Value(mn Rs)
2008
Qty(mnKgs) Value(mnRs) 1
USA UK CIS Germany Japan UAE Iran Poland
5.4 26.1 95.3 5.7 3.1 21.2 3.6 10.5
672.2 2251.1 7949.9 881.2 442.3 1817.1 284.0 856.3
6.6 19.6 93.5 4.2 3.0 22.1 1.9 9.7
744.2 1627.8 10048.4 837.0 502.9 2135.3 205.9 847.0
A.R.E
4.9
295.1
6.0
481.0
North India
South India
Total
Others Total
27.3 203.0
2298.4 17747.8
39.0 205.6
4174.7 21604.0
Table 3.2
CTC
2009
163.7
86.6
250.3
2008
157.2
80.8
238
2007
191.3
83.5
274.8
2006
158.6
80.0
238.6
Orthodox
2009
19.7
19.5
39.2
2008
11.5
16.4
27.9
2007
27.8
18.4
46.2
2006
22.5
15.8
38.3
Tea Production Table 3.3
Offices of Tea Board:
(a) Offices in India: With Head Office located in Kolkata, West Bengal it has fourteen offices which include Zonal, Regional and Sub-Regional Offices
located at the following cities/towns :
Coonoor Siliguri Chennai Agartala Kurseone Dibrugarh
Guwahati Mumbai Silchar Jorhat Pal amour
New Delhi Cochin Kottayam Tezpur Jabaieuri
Table 3.4
Functions of tea board:
The Tea Board has wide functions and responsibilities under the direction of the Central Government. Briefly the primary functions of the Tea Board are as under: a) Rendering financial and technical assistance for cultivation, manufacture and marketing of tea. b) Export Promotion c) Aiding Research and Development activities for augmentation of tea production and improvement of tea quality, d) Extend financial assistance in a limited way to the plantation workers and their wards through labour welfare schemes, e) To encourage and assist both financially and technically the unorganized small growers sector, f) Collection and maintenance of Statistical data and publication g) Such other activities as are assigned from time to time by the Central Government
CHAPTER – 4
DATA ANALYSIS AND INTERPRETATION
DATA ANALYSIS AND INTERPRETATION
The purpose of research and study is to find out an answer for a particular question. Analysis of data helps us to find out there answers.
Analysis means the computation of certain measures along with searching for patterns.
Age
Production
Marketing
Finance
Personnel
Q.c
Sales
Total
This chapter includes analysis and interpretation of data collected through questionnaire. The data for the study was collected from 40 respondents from Masco tea Factory. The questionnaire was personally presented before the respondents. This contains 20 statements concerning different variables involved in the management of time. Four alternatives were given for each statement viz. always, usually, sometimes and rarely. Data are analyzed on the basis of number of respondents. Mathematical tools like percentage are used to analyze data. At lasts an analysis of overall time management by the respondents is also carried out.
Below 25 25-35 35-45 45-55
4(66.66) 2(33.33) 6(100)
5[50] 2(20) 3(30) 10(100)
1(9.09) 3(27.27) 5(45.45) 2(18.18) 11(100)
1(16.6) 2(33.33) 2(33.33) 1(16.16) 6(100)
3(75) 1(25) 4(100)
1(33.35) 1(33.33) 1(33.33) 3(100)
8(20) 12(30) 16(40) 4(10) 40(100)
1. Classification of Sample on the basis of Age
Out of the 40 respondents an age wise classification is carried out. The age groups below 25, 25-35, 35-45, 45-55, the results of the survey is depicted in the following table.
Table 4.1 Table Showing Classification of Sample on the Basis of Age
It’s evident from the above table that out of the 40 respondents, 30% belong to age group 25-35 and 40% belong to 35-45. This indicates that the majority of the respondents belong to the upper middle class and middle class section. And only 20% & 10% constitute the below 25 and 45-55 age group respectively.
Figure 4.1 Diagram Showing Classification of Sample on the Basis of Age
40
P 30 e r c e 20 n t a 10 g e
0
40 30 20 10
Below 25
35-45
35-45
45-55
Source – Primary Data. Note- Figure in parenthesis indicate % total 2. Classification on the Basis of Monthly Income
For the purpose of a study we classify on the basis of monthly income. The monthly income groups taken for study includes below 5000, 5000-8000, 8000-10000 above 10000. The result of the survey is shown in the following table.
Table 4.2 Table Showing Classification of Sample on the Basis of Monthly Income
It’s evident from the above table that out of the 40 respondents, 7.5% belong to below 5000 Income Below 5000 5000-8000 800010000 Above 10000 Total Production 1(16.66) 2(33.33) 3(50) 6(100) Marketing 2(20) 5[50] 3(30) 10(100) Finance 5(45.45) 6(54.54) 11(100) Personnel 2(33.33) 3(50) 1(16.16) 6(100) Q.c 4(100) 4(100) Sales 1(33.33) 2(66.66) 3(100) Total 3(7.5) 10(25) 20(50) 7(17.5) 40
income group and 25% belong to between 5000-8000 income group. This indicates that the majority of the respondents belong to 8000-10000 income group with an average of 50% & 17.5% of the respondents belong to the above 10000/-.
Figure 4.2 Diagram Showing Classification of Simple on the Basis of Monthly Income.
15
P e r 10 c e n t 5 a g e 0
10 6
11 6 4 3
Production
Marketing
Finance
Personnel
qc
Sales
Source- Primary Data Note- Figure in parenthesis indicate % total
3. Statement wise Classification of Sample
To study the management of time information is collected through questionnaire. It contains 20 statements concerning different variables involved in the management of
time. Four alternatives were given for each statement like always usually sometimes and ready. The following tables analysis different statements based on management Of time. Table 4.3 I find that I have enough time for myself to do things I enjoy doing
Department Production Marketing Finance Personnel qc Sales Total
Always 1(14.21) 3(42.86) 19(14.29) 1(14.29) 1(14.29) 7(17.5)
usually 2(10.53) 3(15.79) 5(26.32) 3(15.79) 20(10.53) 20(10.53) 17(42.5)
sometimes 3(23.08) 4(30.77) 3(23.08) 2(15.38) 1(7.63) 13(7.5)
Rarely 2(66.66) 1(33.33) 3(7.5)
Total 6 10 11 6 4 3 40
It is clear from above table that out of 40 respondents 7(17.5) always agree with the statements and 17(42.5%) usually and sometime.
Figure 4.3 I find that I have enough time for myself to do things I enjoy doing
Production Marketing Finance Personnel qc Sales
Note- Figure In parenthesis indicates % to total
So it can be considered that most of the respondents find enough time for discharging their duties. Table 4.4 I am aware of deadlines and schedule my work to meet their in plenty of work
Department Production Marketing Department
Always 4(20) 4(20)
usually 2(18.18) 4(36.36)
Usually
sometimes 4(14.29)
Sometimes
Rarely 1(50)
Rarely
Total 6 10
Total
Always
Finance Personnel qc Sales Total
5(25) 4(20) 1(5) 2(10) 20(50)
3(27.27) 1(9.90) 1(9.90) 11(27.5)
3(42.86) 2(28.57) 1(14.29) 7(17.5)
1(50) 2(5)
11 6 4 3 40
Figure in ‘()’ indicates percentage to total out of 40 respondents 20(50%) always agree and 11(27.5) usually agree with the statement while 7(17.5%) and 2(5%) sometimes or rarely with the statement respectively Figure 4.4 I am aware of deadlines and schedule my work to meet their in plenty of work
120.00%
100.00% P e r c e n t a g e
80.00%
60.00%
40.00%
20.00%
0.00% Always Production Usually Sometimes Finance Rarely Personnel QC Marketing
This we can conclude that most of the respondents are aware of deadlines and schedules their work to meet in plenty of time.
Production Marketing Finance Personnel QC Total
4(22.22) 2(11.11) 4(22.22) 2(11.11) 3(16.66) 18(45)
1(7.14) 7(50.00) 3(21.43) 2(14.28) 1(7.14) 14(35) Table 4.5
1(14.29) 1(14.29) 4(57.14) (14.29) 7(17.5)
1(100)
6 10 11 6
1(2.5)
3 40
I write down specific objectives in order to work towards goal
Out of the 40 respondents, 18(45%) always agree with the statement, 14(35%) usually and 5(17.5%) sometimes. It is evident that a good majority admit the statement always of usually. It can be concluded that most of the respondents write specific objectives in order to work towards their goals. It is equally true for all the departments. Figure 4.5 I write down specific objectives in order to work towards goal
120.00% P 100.00% e r 80.00% c e 60.00% n t a 40.00% g e 20.00% 0.00% Always Usually Sometimes Finance Rarely Personnel QC Production Marketing
Source – Primary Data Table 4.6
I use a calendar to write down appointments, deadlines, things to do general notes
Department
Production Marketing Finance Personnel QC Sales
Always 4(26.66) 4(26.66) 5(33.33) 1(6.66) 1(6.66) -
Usually 2(22.22) 2(22.22) 3(33.33) 1(11.11) 1(11.11) -
Sometimes 4(28.57) 3(21.43) 2(14.29) 2(14.29) 3(21.43)
Rarely
Total 6 10 11 6 4 3 40
2(100.00)
-
Total
15(7.5)
9(22.5)
14(35)
2(5)
Out of the 40 respondents, 15(37.5%) always agree with the statement, 9(22.5%) usually and 14(35%) sometimes. It is evident that a good majority admit the statement sometimes or always. It can be concluded that most of the respondents are use a calendar to write down appointments deadlines and general notes. It is equally true for all the departments. Figure 4.6 I use a calendar to write down appointments, deadlines, things to do general notes
120.00%
P 100.00% e r 80.00% c e 60.00% n t 40.00% a g 20.00% e
0.00% Always Production Usually Marketing Sometimes Finance Rarely Personnel QC Sales
Source – Primary Data
Table 4.7
I feel in control of time while at work and at home
Department
Production Marketing Finance Personnel QC Sales
Always 3(20) 5(33.33) 5(33.33) 1(6.66) 1(66.66) -
Usually 1(6.25) 5(31.25) 4(25) 4(25) 1(6.25) 1(6.25)
Sometimes 2(25) 2(25) 2(25) 2(25)
Rarely
Total 6 10 11 6 4 3 40
1(100)
-
Total
15(37.5)
16(40)
8(20)
1(2.5)
Figure4.7 I feel in control of time while at work and at home
Production
Marketing
Finance
Personnel
QC
Sales
Source – Primary Data Note – figure in ‘( )’ indicate % to total out of 40 respondents, 15(37.5%) and 16(40%) are always and usually agreeing with the statement and 8(20%) sometimes. It is clear majority of respondents agree with the statement always and usually. This shows that most of respondents have control at work and at home.
Table 4.8
I plan and schedule my time on a weekly/monthly basis
Department
Production Marketing Finance Personnel QC Sales
Always 3(18.75) 5(31.25) 5(31.25) 1(6.25) 2(12.5) -
Usually 2(11.76) 4(23.53) 4(23.53) 3(7.64) 2(11.76) 2(11.76)
Sometimes 1(16.66) 1(16.66) 2(33.33) 1(16.66)
Rarely
Total 6 10 11 6 4 3 40
1(100)
-
Total
16(40)
17(42.5)
6(15)
1(2.5)
Out of the 40 respondents, 16(40%) always agree with the statement, 17(42.5%) usually and 6(15%) sometimes. It can be seen that a good majority admit the statement always or usually and this is applicable to all department. It can be concluded that most of the respondents plan & schedule their time on a weekly or a monthly basis. Figure 4.8 I plan and schedule my time on a weekly/monthly basis
45.00%
P e r c e n t a g e
40.00% 35.00% 30.00% 25.00% 20.00% 15.00% 10.00% 5.00% 0.00% Always Production Usually Marketing Sometimes Finance Rarely Personnel QC Sales
Source – Primary Data
Table 4.9
I make a daily-to-do list and refer it to several times per day
Department
Production Marketing Finance Personnel QC Sales
Always 1(11.11) 2(22.22) 3(33.33) 2(22.22) 1(11.11) -
Usually 2(15.38) 5(38.46) 3(25) 2(15.38) 1(18.33) -
Sometimes 1(11.11) 2(22.22) 2(22.22) 2(22.22) 1(11.11) 1(11.11)
Rarely 2(22.22) 1(11.11) 3(33.33) -
Total 6 10 11 6 4 3 40
1(11.11)
2(22.22)
Total
9(22.5)
13(32.5)
9(22.5)
9(22.5)
From the above data we can see that 9(22.5%) always agree with the statement 13(32.5%) usually agree and 9(22.5%) sometimes and 9(22.5%) go with the statement. By taking majority opinion of 40 respondents we are that there is 32.5% usually agreeing with the statement and the rest is in balance with each other. Figure 4.9 I make a daily-to-do list and refer it to several times per day
45.00%
P e r c e n t a g e
40.00% 35.00% 30.00% 25.00% 20.00% 15.00% 10.00% 5.00% 0.00% Always Production Usually Marketing Sometimes Finance Rarely Personnel QC Sales
This we can conclude the even though most of the respondents keep a daily to do list another action rarely or sometimes only keep it. Table 4.10
I am able to say ‘No’ when I am pressed for time
Department
Production Marketing Finance Personnel QC Sales
Always 1(11.11) 2(22.22) 4(44.44) 2(22.22)
Usually 3(21.43) 4(28.57) 4(26.57) 3(21.43) -
Sometimes 3(23.08) 4(30.77) 2(15.38) 2(15.38) 1(7.69) 1(7.69)
Rarely 1(25) 3(75) -
Total 6 10 11 6 4 3 40
-
Total
9(22.3)
14(35)
13(32.5)
4(10)
Out of the 40 respondents, 9(22.5%) always agree with the statement, 14(35%) and 13(32.5%) each for usually and sometimes 4(10%) for rarely agree the statement. It is clear that majority of respondents agree with the statement always or usually Figure 4.10 I am able to say ‘No’ when I am pressed for time
35.00% 30.00%
P e r c e n t a g e
25.00% 20.00% 15.00% 10.00% 5.00% 0.00% Always Production Usually Marketing Sometimes Finance Rarely Personnel QC others
Table 4.11
I try to delegate responsibility to others in order to make more time for myself
Department
Production Marketing Finance Personnel QC Sales
Always 2(33.33) 2(33.33) 1(16.66) 1(16.66) -
Usually 1(12.5) 4(50) 1(12.5) 1(12.5) 1(12.5)
Sometimes 3(17.65) 4(23.53) 4(23.53) 3(17.65) 2(11.76) 1(5.88)
Rarely 2(22.22) 4(44.44) 2(22.22)
Total 6 10 11 6 4 3 40
1(11.11)
Total
6(15)
8(20)
17(42.5)
9(22.5)
Out of the 40 respondents, 8(20%) usually agree with the statement, 6(15%) always do agree. But 17(42.8%) sometimes and 9(22.5%) rarely. From the above data we can see that a good majority of respondents rarely or sometimes delegate their responsibility to others. Figure 4.11 I try to delegate responsibility to others in order to make more time for myself
35.00% 30.00% 25.00% 20.00% 15.00% 10.00% 5.00% 0.00% Always Production Usually Marketing Sometimes Finance Rarely Personnel QC others
P e r c e n t a g e
Source – Primary Data Table 4.12
I organize my desk and work area to prevent clutter and confusions
Department
Production Marketing Finance Personnel QC Sales
Always 1(11.11) 2(22.22) 3(33.33) 2(22.22) 1(11.11)
Usually 5(18.52) 8(29.63) 5(18.52) 4(14.81) 3(11.11) 2(7.41)
Sometimes 3(100) -
Rarely -
Total 6 10 11 6 4 3 40
1(100)
-
Total
9(22.5)
27(67.5)
3(7.5)
1(2.5)
Out of the 40 respondents, 27(67.5%) usually agree with the statement, 9(22.5%) always and 3(7.5%) sometimes. It is evident that a good majority admit the statement that they organize their desk and work area to present clutter and confusion. Figure 4.12 I organize my desk and work area to prevent clutter and confusions
35.00% 30.00%
P e r c e n t a g e
25.00% 20.00% 15.00% 10.00% 5.00% 0.00% Always Production Usually Marketing Sometimes Finance Rarely Personnel QC others
Table 4.13
I find it is easy to eliminate or reschedule low priority items
Department
Production Marketing Finance Personnel QC Sales
Always 4(23.53) 3(17.63) 4(23.53) 2(11.76) 2(11.76) 2(11.76)
Usually 2(11.11) 7(38.38) 5(27.77) 1(5.55) 2(11.11) 1(5.55)
Sometimes 1(33.33) 2(66.66) -
Rarely 1(50) 1(50)
Total 6 10 11 6 4 3 40
-
Total
17(42.5)
18(45)
3(7.5)
2(5)
Out of the 40 respondents, 18(45%) usually agree with the statement 17(42.5%) always and 3(7.5%) sometimes. It is evident that majority agree with statements usually or always. Figure 4.13 I find it is easy to eliminate or reschedule low priority items
35.00% 30.00%
P e r c e n t a g e
25.00% 20.00% 15.00% 10.00% 5.00% 0.00% Always Production Usually Marketing Sometimes Finance Rarely Personnel QC others
This it can be concluded that majority find it easy to eliminate low priority items and gives more time to priority item. Table 4.14
I try to do things in a way that cuts down on duplicated efforts
Department
Production Marketing Finance Personnel QC Sales
Always 3(20) 5(33.33) 3(20) 1(66.66) 2(20) 1(6.66)
Usually 3(13.64) 4(18.18) 7(31.81) 5(22.73) 1(4.55) 2(9.90)
Sometimes 1(50) 1(50) -
Rarely 1(100) -
Total 6 10 11 6 4 3 40
-
Total
15(37.5)
22(55)
2(5)
1(25)
Out of the 40 respondents, 22(55%) usually agree with the statement, 15(37.5%) always and 2(5%) sometimes, hence it is clear that most of them agree always or usually. Figure 4.14 I try to do things in a way that cuts down on duplicated efforts
35.00% 30.00% 25.00% 20.00% 15.00% 10.00% 5.00% 0.00% Always Production Usually Marketing Sometimes Finance Rarely Personnel QC others
P e r c e n t a g e
Source – Primary Data
Table 4.15 I find that doing everything myself is very inefficient
Department
Production Marketing Finance Personnel QC Sales
Always 3(30) 3(30) 3(30) 2(20) 1(10) 1(10)
Usually 3(18.75) 3(18.75) 5(31.25) 4(25) 1(6.25) -
Sometimes 2(22.22) 2(22.22) 3(33.33) 2(22.22) -
Rarely 1(20) 2(40) -
Total 6 10 11 6 4 3 40
2(40)
Total
10(25)
16(40)
9(22.5)
5(12.5)
From the 40 respondents 16(40%) usually agree with the statement, 10(25%) always, 9(22.5%) sometimes and 5(12.5%) rarely. It is evident that 65% of the respondents always or usually agree and 40% sometimes or ready. Figure 4.15 I find that doing everything myself is very inefficient
35.00% 30.00% 25.00% 20.00% 15.00% 10.00% 5.00% 0.00% Always Production Usually Marketing Sometimes Finance Rarely Personnel QC others
P e r c e n t a g e
It can be concluded that majority of the respondents find that doing everything themselves is very inefficient. So they delegate their responsibilities.
Table 4.16 I try to shift priorities as soon as change
Department
Production Marketing Finance Personnel QC Others
Always 6(40) 1(6.66) 5(33.33) 2(13.33)
Usually 4(28.57) 5(35.71) 2(14.29) 2(14.29)
Sometimes 4(44.44) 1(11.11) 3(33.33) -
Rarely 1(50) -
Total 6 11 11 6 4 3 40
1(50)
-
Total
1(6.66) 15(37.5)
1(7.14) 14(35)
1(11.11) 9(22.5)
2(5)
From the above data collected from 40 respondents, 14(35%) usually and 15(37.5%) always. It is equally true for the entire department. It can be concluded that most of the respondents try to shift priorities as soon as they change. Figure 4.16 I try to shift priorities as soon as change
35.00% 30.00% 25.00% 20.00% 15.00% 10.00% 5.00% 0.00% Always Production Usually Marketing Sometimes Finance Rarely Personnel QC others
P e r c e n t a g e
Source – Primary Data
Table 4.17 My meetings and activities are organized and efficient
Department
Production Marketing Finance Personnel QC Others
Always 3(15.79) 5(26.32) 5(26.32) 4(21.05) 1(5.26) 1(5.26)
Usually 3(16.66) 4(22.22) 5(27.77) 2(11.11) 3(11.66) 1(5.55)
Sometimes 1(33.33) 1(33.33) 1(33.33)
Rarely -
Total 6 11 11 6 4 3 40
-
Total
19(47.5)
18(45)
3(7.5)
Out of the 40 respondents, 19(47.5%) always 18(45%) usually and 3(7.5%) sometimes. Figure 4.17 My meetings and activities are organized and efficient
35.00% 30.00%
P e r c e n t a g e
25.00% 20.00% 15.00% 10.00% 5.00% 0.00% Always Production Usually Marketing Sometimes Finance Rarely Personnel QC others
Source – Primary Data
CHAPTER – 5
FINDINGS AND RECOMMENDATIONS
Summary of Findings and Recommendations
One of the biggest stress factors we face, whether it is at work or a home, is our in ability to manage time. The lack of time management creates stress because without time we loose the freedom to do what need to be done, to be who we want to be enjoy the things we want to do. We accomplish only what we can fit in to our schedules. Time management, then allows us to organize our lives in way that makes happier and more productive. It gives us the ability to schedule ourselves, in to normal day to day routine so we are left with the time we need for ourselves and our family and it prevents chronic stress by eliminating the constraints we place on ourselves as a result if the poor or inadequate organizational kills. The following were the major objectives of the study. ? To know whether the employees of Masco tea Factory have enough knowledge about the importance of time management. ? To study various measures instituted in the company for an effective management of time in the area of work. ? To know how work is related with time. ? To interpret whether they use and manage their time effectively. ? To suggest some guidelines to manage the time effectively in work place. For the successful conduction of the study primary data were collected from 40 respondents from the company, identified randomly out of a list of employees given by them. A structured questionnaire was personally presented before the respondents. It contains 20 statements concerning different variables involved in the management of time. Four alternatives were given for each statement vise, always, usually, sometimes and rarely. Data are presented on the basis of different departments.
FINDINGS
The data collected are analyzed by appropriate mathematical tool such as percentages. The major findings emanating from study are summarized in following paragraphs. ? Age wise, a good majority belong to upper middle class and middle class sectors. ? On the basis of income, a good majority belong 8000-10000 income groups. ? Out of the 40 respondents, most of them find enough time to discharge their duties. ? Out of the 40 respondents majority of 50% always agree that they are aware of deadlines and schedule their work to meet them in plenty of time. ? It can conclude that most of the respondents write specific objectives in order to work towards their goals which are equally true for all the departments. ? Out of all the respondents majority agreed that they have the habit of using calendar to write down appointment, deadlines etc,.
? Most of the respondents agree that they have control at work and at home.
? Out of the 40 respondents, majority usually plan and schedule their time on a weekly or a monthly basis.
? Out of the 40 respondents, half of them maintain a daily-to-do list and refer it several times a day. Rest half rarely keeps a record. ? A majority state that they are able to say ‘No’ when they are pressed for time.
? Majority of respondents rarely delegate their respondents to others. ? Majority of the employees organize their desks and work area to prevent clutter and confusion.
? Most of the employees find it easy to eliminate priority items and given more time to priority items. ? Most of the respondents try to do things in a way that cuts down on duplicated efforts.
? Most of the employees find it efficient to do everything themselves. ? Majority of the respondents try to shift priorities as soon as they change. ? Most of the employees agree that their meetings and activities are well organized and efficient.
RECOMMENDATIONS
On the basis of the study, following recommendations are advanced for better management of time.
? Keeping a diary of activities and an accurate record of time wasters
should give us a clear picture of how we are doing as time mangers and how far we need to go to become time managers.
? Prioritize tasks according to importance. After writing down these
activities, give them a priority ranking, top, high, low or least.
? Schedule demanding tasks during periods of high energy. There are
morning, noon and night people. Scheduling in this manner will allow you to do your best on the important assignments.
? Eliminate time wasting activities. Eliminate all the things you do every
day that are unnecessary. Put them at the end of the list.
? Improve reading and writing skills. Effective communication including
the ability to read quickly and write coherently is basic to all effective time management.
? Finish one task before starting another. Some of us can handle several
things at the same time; most of us can’t. Assign a priority rating to each task and eliminate the tendency to procrastinate.
? Write it down. Taking good notes supplies you with information,
reminds you of priorities and provide you with a back up to your calendar. Always keep a pencils and small note pad available and get in the habit of using it.
? Develop an effective reminder system. No one can remember every
thing without a reminder; follow-up material and attention to small details suffer.
? Being in control is as important in time management as in stress
management. Avoid unnecessary calls and unorganized meeting or discussions.
? Plan schedules in an organized manner by using a calendar or
appointment book. These tools are organized in a way that makes scheduling and planning easy, effective and manageable.
? Leave some of your schedule open. Never fill up your schedule
completely, by leaving yourself available time for emergency meetings or unexpected jobs, you will be less anxious about your ability to schedule ‘just one more thing’.
? Develop and keep deadlines. Don’t put off projects. Procrastination just
makes deadlines harder to meet. Know when your deadlines are and keep them.
CONCLUSION
Since the commencement of business from 2000, the company has good track record. The company has followed a well structured time schedule and also managing the time effectively and efficiently without any kinds of delays. MASCO TEA is a small unit under the Malanad service cooperative society. It produces around 500 millions tones per annum. About 60% of the tea produced is sold through regular auction and the remaining 40% is sold through retail outlets. The unit provides employment to about 100 people comprising of permanent and temporary, skilled and unskilled labour and office staff for a two shift - operation in the factory.
And finally, the project helped me to understand the various departments and functions in the company.
BIBILIOGRAPHY
1. Dr. Andrew Goliszek 2. Aswatappa K 3. Elhance D.N 4. Fontana David 5. Sheikh A.M - Time Management 1st edition - Human Resource and Personnel management - Fundamentals of Statistics Allahabad 1987 - Management of Time Excel Book 1st edition - Human Resource Development
APPENDIX
A STUDY ON TIME MANAGEMENT AMONG EMPLOYEES OF MASCO TEA FACTORY
QUESTIONNAIRE
Please put a tick mark wherever applicable.
I.
Sample profile
: : (a)executive (b)operative level : : : production , Marketing , Finance Personnel , Q.C , Sales . Below 25, 25-35,35-45, 45-55, Above 55 Below 5000, 5000-8000, 800010000, above 10000
1. Name of employees 2. Category of employment 3. Department 4. Age 5. Monthly income
II.
Management of time
1. I find that I have enough time for myself to do things I enjoy doing. (a)Always, (b) Usually, (c) Sometimes, (d) Rarely 2. I am aware of the deadlines and schedule my work to meet them in plenty of work (a)Always, (b) Usually, (c) Sometimes, (d) Rarely 3. I write down specific objectives in order to work towards goal (a)Always, (b) Usually, (c) Sometimes, (d) Rarely
4. I use a calendar to write down appointment , deadlines things to do general notes (a)Always, (b) Usually, (c) Sometimes, (d) Rarely 5. I feel in control of time while at work and at home (a)Always, (b) Usually, (c) Sometimes, (d) Rarely 6. I plan and schedule my time on a weekly/monthly basis (a)Always, (b) Usually, (c) Sometimes, (d) Rarely 7. I make a daily- to do list and refer it to it several times per day (a)Always, (b) Usually, (c) Sometimes, (d) Rarely 8. I am able to say “No” when I am proceeding for time. (a)Always, (b) Usually, (c) Sometimes, (d) Rarely 9. I try to delegate responsibility to others in order to make more time for myself. (a)Always, (b) Usually, (c) Sometimes, (d) Rarely 10. I organize my desk and work area to present dotter and confusion (a)Always, (b) Usually, (c) Sometimes, (d) Rarely 11. I find it east to eliminate or reschedule low priority items. (a)Always, (b) Usually, (c) Sometimes, (d) Rarely
12.
I try to do things in a way that its down on duplicated (a)Always, (b) Usually, (c) Sometimes, (d) Rarely
13.
I find that doing everything I am very inefficient. (a)Always, (b) Usually, (c) Sometimes, (d) Rarely
14. I try to shift priorities as soon as they change (a)Always, (b) Usually, (c) Sometimes, (d) Rarely 15. My meeting and activities are well organized and efficient (a)Always, (b) Usually, (c) Sometimes, (d) Rarely 16. I know what I am capable of and try not to over extend myself (a)Always, (b) Usually, (c) Sometimes, (d) Rarely 17. I know what my responsibilities and duties are. (a)Always, (b) Usually, (c) Sometimes, (d) Rarely 18. I try to schedule the most difficult work during my most productive times. (a)Always, (b) Usually, (c) Sometimes, (d) Rarely 19. I finish one job or task before going to the next. (a)Always, (b) Usually, (c) Sometimes, (d) Rarely 20. I find it easy to keep up with changes that affect my schedule or work load. (a)Always, (b) Usually, (c) Sometimes, (d) Rarely
doc_776733065.docx
When we asked nearly 1,500 executives across the globe2 to tell us how they spent their time, we found that only 9 percent of the respondents deemed themselves “very satisfied” with their current allocation. Less than half were “somewhat satisfied,” and about one-third were “actively dissatisfied.” What’s more, only 52 percent said that the way they spent their time largely matched their organizations’ strategic priorities. Nearly half admitted that they were not concentrating sufficiently on guiding the strategic direction of the business. These last two data points suggest that time challenges are influencing the well-being of companies, not just individuals
ORGANISATIONAL STUDY REPORT ON TIME MANAGEMENT
MALANAD CO-OPERATIVE TEA FACTORY VAGAMON- IDUKKI (DIST) Submitted to the Mahatma Gandhi University, Kottayam in Partial fulfillment of the Requirements for the Award of the Degree of
BACHELOR OF BUSINESS MANAGEMENT
By
VINEETH K V
Reg.No.137175
Under the Guidance of
Mrs. RESMI GEORGE Faculty Guide & MR. M. M GEORGE Manager, MASCO TEA, Vagamon
DEPARTMENT OF BUSINESS STUDIES AND MANAGEMENT
ST.JOSEPH’S
COLLEGE MOOLAMATTOM
Mahatma Gandhi University, Kottayam
March 2011
DEPARTMENT OF BUSINESS STUDIES AND MANAGEMENT
ST. JOSEPH’S COLLEGE, MOOLAMATTOM
CERTIFICATE
This is to certify that Mr. VINEETH K V has undertaken the project work titled “A STUDY ON TIME MANAGEMENT AMONG EMPLOYEES OF MASCO TEA FACTORY”, in partial fulfillment of the requirements for the award of the Bachelor’s Degree in Business Management under my guidance and to the best of my knowledge, it is his original work.
Head of the Department
Faculty Guide
Examined and Assessed By
Examiner
Examiner
DECLARATION
I, VINEETH K V, do here by declare that this study at MALANAD COOPERATIVE TEA FACTORY (MASCO), submitted to Mahatma Gandhi University in partial fulfillment of the requirements of the award of the degree of Bachelor of Business Management is a record of the original study conducted by me under the guidance of Mrs. Resmi George, Department of Business Studies & Management, St. Joseph's College, Moolamattam and Mr. M.M.JOSEPH, manager MASCO.
I further declare that this study has not previously formed the basis for the award of any degree, diploma, associate ship, fellowship or other similar title of recognition.
Place:
Signature of the student:
Date:
ACKNOWLEDGEMENT
I wish to take this opportunity to express my sincere expression of gratitude to each & everyone who helped me in the completion of this work. First of all I thank God Almighty for giving me all the grace and assistance throughout my work. I am very glad to express my gratitude to
Rev. Fr. Gilson John, principal, St. Joseph's collage, Moolamattom, for his timely help all through my work. I am greatly thankful to our Head of Department Dr. V .P Thomas for his support and encouragement. I treasure the generous help offered by Mrs. Resmi George, my faculties guide whose valuable guidance and suggestions have helped me through out this project. I would like to place my graceful thanks to
Mr. M.M.JOSEPH, Manager of MASCO. I also extent my gratitude to my dear friends for their co-operation in completing the project neatly.
VINEETH K V
CONTENTS
CHAPTER
TITILE LIST OF TABLES LIST OF CHART LIST OF GRAPHS
PAGE NUMBER i. ii. iii.
1. INTRODUCTION 2. THEORETICAL FRAME WORK 3. PROFILE OF THE COMPANY 4. 5. DATA ANALYSIS AND INTERPRETATION FINDINGS AND RECOMMENDATIONS APPENDIX BIBILIOGRAPHY 13 22 41 47 48 7-13 1-6
LIST OF TABLES
Graph No
Title
Page No
3.1 3.2 3.3 3.4 4.1 4.2 4.3 4.4 4.5 4.6 4.7 4.8
Indian tea statistics Indian exports Tea production Offices of Tea Board Classification of sample on Basis of age Classification of sample on Basis of monthly income Statement wise classification of sample I am aware of deadlines and schedule my work to meet their in plenty of work. I write down specific objectives in order to work towards goal I use a calendar to write down appointments, deadlines, things to do general notes. I feel in control of time while at work and at home. I plan and schedule my time on a weekly/ monthly basis
4.9
I make a daily –to –do list and refer it to several times per day. I am able to say ‘No’ when I am pressed for time I try to delegate responsibility to others in order to make more time for myself I organize my desk and work area to prevent clutter and confusions. I find it easy to eliminate or reschedule low priority items I try to do things in away that cuts down on duplicated efforts I find that doing everything I am very inefficient. I try to shift priorities as soon as they change
4.10
4.11
4.12
4.13 4.14 4.15 4.16
4.17
My meeting and activities are organized and efficient
LIST OF GRAPHS
Graph No
Title
Page No
4.1
Classification of sample on Basis of age
4.2
Classification of sample on Basis of monthly income
4.3
Statement wise classification of sample I am aware of deadlines and schedule my work to meet their in plenty of work. I write down specific objectives in order to work towards goal I use a calendar to write down appointments, deadlines, things to do general notes. I feel in control of time while at work and at home. I plan and schedule my time on a weekly/ monthly basis I make a daily –to –do list and refer it to several times per day.
4.4
4.5
4.6
4.7
4.8
4.9
4.10
I am able to say ‘No’ when I am pressed for time I try to delegate responsibility to others in order to make more time for myself I organize my desk and work area to prevent clutter and confusions. I find it easy to eliminate or reschedule low priority items I try to do things in away that cuts down on duplicated efforts I find that doing everything I am very inefficient.
4.11
4.12
4.13
4.14
4.15
4.16
I try to shift priorities as soon as they change
4.17
My meeting and activities are organized and efficient
CHAPTER – 1
INTRODUCTION
INTRODUCTION
Time is the most important and precious resource available to the mankind to be utilized instantly. It doesn’t wait for anybody whosoever is the person. We can also say time when utilized appropriately to the maximum extend can give amazing results. Incase of a manager, it is the most precious resource available. The maximum utilization of the time in a day should be the adored principle, one who kills time, kills his and his company’s progress time is the resources equally available to each one of us. There is no unequal distribution of time. Mangers employees and workers should understand the importance of time. With the background of the scenario of economic recession.
People waste time and then complain about its shortage, of time is wasted work will suffer. Work goes on increasing with time. Every second I precious worth of time should been taught to the executives, employees and workers. If it is wasted, Then it becomes costly its wastage adds to cost.
Time being the most important resource, its value must be understood by one and all. It is more important than money and other material resources. It is, therefore, necessary to manage time skillfully. Time is divided into past, present and future. Present is the most important of time. It’s like ready cash hence it must be used immediately with effective management. Those who utilize time properly are time conscious they reach their office on time such people and executives command respect.
On the contrary, there are many who are never on time, to them being light and wasting time add to their prestige so that people should say they are the busiest persons. The success and failure of executives depends on proper use of time. Being one of the most important resources it must be saved from prolonging the unnecessary meetings and useless chats with colleagues and friends to use it for more purposeful tasks. On completing the task on time, if exhausted, he should take rest .What we have to keep in mind is that it is not up to how much of time we have used, it lies on the quality of work we have done. Time management is commonly defined as the various means by which people effectively use their time and other closely related resources in order to make the most out of it. In business, time management has morphed in to everything from methodologies such as Enterprise Resources planning through consultant services such as professional organizers. When we think of time management, however, we tend to think of personal time management, loosely defined as managing our time to waste less time on doing the things we have to do so we have more time to do the things we want to do. Generally, time management refers to the development of processes and tools that increase efficiency and productivity. Any people mistake time tracking for time management. They religiously keep track of everything they do each day, for weeks or even months. And then they stop doing it because they haven’t realized any positive changes. But keeping track of how you spend your time isn’t time management. Time management is about making changes to the way you spend your time.
Keeping track of your many daily activities is just a preliminary step to effective time management. The first step of time management is to analyze how you actually spend your time so you can determine what changes you want to make. This is where many people’s attempts at time management fail. They look at specific day in their Day-Timer or Outlook calendar or on their palm which is packed with activities from 8 a.m. to 5 p.m. or 5 p.m. to 8 a.m. and don’t know what to do with it. So they fall back on the tried and true techniques and eliminate a few events and prioritize others. But they haven’t really managed anything; they’ve just rearranged it. All the perceived problems and frustrations of the day’s activities are still there and at the end of their they’re still frazzled and frustrated. The needs for time management for the corporations arise because of fast changing world. Everything is moving fast. The competition is increasing day in and day out. Executives must be time conscious. They have to take decisions quickly and on time. The delays in taking decision may push the companies back. Corporation should use the modern technologies as and when they are available. This is all possible if time is perfectly worked. The globalization of trade and economic liberalization has increased need for management.
SIGNIFICANCE OF THE STUDY
This study is intended to enquire into the management of time by employees of MASCO TEA FACTORY. The problem is stated as “a study on time management among employees of Masco tea factory”.
OBJECTIVES OF THE STUDY
The specific objectives of the study are: ? To know whether the employees of Masco tea factory have enough knowledge about the importance of time management ? To study various measures instituted in the company for an effective management of time in the area of work ? To know how work is related with time ? To interpret whether they use and manage there time effectively ? To suggest some guidelines to manage the time effectively in work
METHODOLOGY OF THE STUDY
Study is based primarily on survey data. For the purpose 40 respondents from the company under study are identified randomly from the lists supplied by the company. A structured questionnaire is utilized to explore information’s from the sample respondents. The questionnaire was personally presented before the respondents. It contains 20 statements concerning different variables involves in the management of time. Four alternatives were given for each statement viz.., Always, Usually, Sometimes and Rarely. Data are analyzed on the basis of number of respondents but also total scores. All efforts are made to ensure the reliability of information by cross checking and asking alternative questions, the data collected are analyzed by using appropriate statistical and mathematical tools. Data are classified and tabulated mainly on the basis of departments such as production marketing, finance, personnel, quality control and sales. Percentages are used to analyze data.
SCOPE OF THE STUDY
Time management have a great a scope to develop a sense of responsibilities an dignity among the workers enabling them to be worthy and enlightened citizens. All such aspects help to reduce stress by completing work on time and ensuring appropriate intervals which helps to reduce strikes and facilitate harmony and peace in the industrial organization. Employees are very important persons in an organization and they lead to achieve the goal in the organization. Proper time management helps to increase the morale and attitude of the workers.
It is some what difficult to accurately lay down the scope of time management, especially because of the reason that workers are dynamic with complex attitudes. The scope of time management can be interpreted in different ways by different countries with varying stages of economic development, political outlook and social philosophy.
LIMITATION OF THE STUDY
? Due to the time limitations and other constrains the research could be conducted among limited number of respondents. ? It was very difficult to stipulate the time of the workers because the workers and staff are very busy with their work. ? Most of the respondents co-operate with me but some of them were not aware of this study.
CHAPTER – 2
THEORETICAL FRAMEWORK
CONCEPT & MEANING OF TIME
Time is the most important and precious resources availed to the man to be utilized instantly. If it is passed it is gone. It does not wait for anybody whosoever is the person. It is the most precious resources available to the manager. It must therefore be utilized properly without wasting it. The maximum utilization of time in a day should be adored principle, one who kills time, kills his and his company’s progress. Managers, employers, and workers should understand the importance of time. People waste time and then complain about its shortage. If time is wasted work will suffer. Work goes on increasing with time. If each second is utilized appropriately, work gets completed at proper time. So every second is precious.
Why Is Time Management Important?
Here are the top reasons why time management is of great importance to your personal and career success: 1. Time is limited. Time is a very special resource in that you cannot store it or save it for later. Everyone gets the exact same amount of time each and every day. If you don’t use your time wisely, you can never get it back. 2. Time is scarce. Most feel like they have too much to do and not enough time. Lack of time is blamed for everything from not getting enough exercise, poor finances , unachieved goals too much stress, bad relationships, and even an unfulfilled life. Time management helps you use the time that you do have in better ways.
3. You need time to get what you want out of life. You need time to do almost anything worthwhile in life. Waiting for more free time is a losing game that almost never results in getting time for what you want. You need to learn how to make time for the things that are important to you. Even if you can only afford to give a small amount of time each weak to your goals, you’d be surprised at how much progress you can make. 4. You can accomplish more with less effort. When you become more productive using improved time management skills and tools, you can accomplish more with less effort. Reducing wasted time and effort gives you even more productive time throughout the day. Both of these allow you to make time for a wide range of activities that bring more balance and fulfillment to your life. 5. Too many choices. In this day and age, there are so many ways you can spend your time that you need some sort of plan to make intelligent choices. Time management helps you make conscious choices so you can spend more of your time doing things that are important and valuable to you.
Proper Utilization of Time
The effective time management of time and its proper utilization of time the maximum work should be completed within a minimum time. Though it should be ensured that work should not be rushed, leading to committing errors and even fatigue. To achieve effective management of time, following are the ways for proper utilization of time.
? Planning of work
This is the first step in management of time and its proper utilization. An executive must plan the work effectively. Before going to bed, he must chalk out his next day programmers. He should also plan for a week, month, or even a year. At least he should take a mental of his plan in the nearby future. And also since he is playing various rules in his life as a father, son, brother, official etc… he should allot his time responsibly among his roles. The thing to be remembered is to give more importance to important roles.
? Assigning priorities to the work to be done
For the completion of work on time one should assign priorities to the different works to be completed in a day. Important tasks are to done first. This helps to finish priorities tasks first.
? Delegation of Authority
No manager can perform all the work himself however efficient may he be. He has to delegate authority to his subordinates to ensure the work to be done in the given time. And also he can concentrate on more urgent works. No delegation amounts to wasting of time. Delegation helps an executive to utilize time effectively and get the work done to the maximum.
? Target setting
Executive must know what he has to achieve. He should set a target first what he wants to accomplish in a day and then he can distribute activities by distributing amongst his subordinates and himself for the completion of work.
? Simplify procedures
Procedure for attaining work should be very simple and understandable by everyone working with the executives and under them too. Minimize the steps in procedure so that time is saved. Adopt ideal work methodology which is time saving. Try to avoid complex procedure consuming extra time.
? Be comfortable
One should be at ease and comfort when at work and even at home. He should sit in a comfortable sitting position so as to avoid any body ache or strain. It will increase the pauses and breaks in the work. Being comfortable can avoid stress and hence saves time that can be used outperforming much important jobs.
? Clubbing of identical work
The work of similar nature can be clubbed together and be completed at the same time instead of allotting separate time for such work. Hence lot time is saved that can be used for much priority tasks.
? Taking quick decisions
Taking quick, effective decisions saves a lot of time. Avoid indecisiveness leads to more wastage of time. Never put off today’s work for tomorrow because tomorrow never comes.
? Take sufficient rest
Continuous work leads to excretion and fatigue. This will result in lot of problems like, lesser concentration, tiredness etc… so it is necessary to have enough pauses and breaks to revitalize a person. And
then he can work with interest. Taking such rest is not a waste of time but investment of time into future work.
Time Wasters
There are several aspects that waste time. They may be summed up as;
1. Travel
Travelling is one of the major time waster’s. Travels without again time can be used for much fruitful reasons. a purpose are unnecessary and they should avoid such journeys. Here
2. Sipping Tea Some people fancy and are addicted to tea drinking. They sip tea at all time. So the time that has to be spending on much important tasks will spend around coffee stalls and cafes. Another evil arising is the tea chat which we can witness in much of the organization. They talk and gossip while drinking tea and neglect their works.
3. Formal meeting
Meetings are a part of corporate culture. Meetings are conducted very often to discuss issues and matters. Many of the formal
meetings conducted in the office end with unworthy discussion. These results in wastage of time.
4. Telephone
Though telephones are one of the most important means of communication, it has also become a time waster in many times. This means of communication meant for conveying important messages, instructions, orders, decisions etc… but when it is used for unworthy conversations, it becomes a time waster.
5. Filing and record keeping
Filing of papers and record keeping is essential for systematic maintenance of records. So that required papers and files can be easily traceable. If papers are kept in wrong files and they are not placed at proper places, which usually happen in most of the offices, then a lot of time is wasted in search of them. Proper filing and record keeping is essential for smooth working and time saving.
6. Paper work
Paper work consumes a lot of time. Many people issue lot of unnecessary memos, reminders very often. Most of this work can be finished with personal discussions. Issuing letters of all kinds
consume a lot of time. Minimizing paper work will reduce a lot of time.
CHAPTER – 3
PROFILE OF THE COMPANY
COMPANY PROFILE
HISTORY
Masco Tea - an Organic Tea manufactured from the beautiful landscape of Vagamon, a small town in the mountains of Kerala in South India. MALANAD SERVICE CO-OPERATIVE BANK LTD, which was established in 1970 under the Chairmanship of Mr. Cherian Abraham, under took a prestige project, a Tea Processing Unit with an aim to save the poor member farmers to get an adequate price for the green tea leaves. In 1995 they started to produce tea leaves. But there were several hurdles waiting for them and after suffering severe setbacks, the bank authorities decided to set up a tea factory by it. On 02.11.2000 the society started the new venture, Tea Processing Unit at Vagamon and for thousands of farmers, this was a ray of hope and a dream come true. In 1995 on words they started to produce tea leaves .They were forced to sell their all leaves to private factories of this area at very low price not even substantial. During peak season, they were compelled to sell their green tea leaves even for Rs.2/-kg., not even the labour cost incurred for this.
This scenario tempted bank authorities to set up a tea factory. At this time integrated Co-operative Development Project under the leadership of Mr.M.M.Rajappan, the present General Manager, Idukki District Co-operative bank came to rescue of Malanad Service Co-operative Bank. On 02-11-2000 the society started the new venture, the tea-processing factory at Vagomon, which is the first type in India. By starting this novel venture the society is able to give a fair price to the farmers. Now the farmers get Rs.7/-Kg if green leaf which Rs. 2.50 above than that of private tea factories. They made tea under the Brand Name MASCO TEA is familiar to majorities of households of Kerala. The tea is marketed through Kerala State Co-operative Consumer Federation through its Neethi stores and Supermarkets besides auction centers. The factory has an installed capacity of 600 tones made tea per year. During 2002-2005 the factory achieved the full utilization of its capacity. For the last 3 consecutive years, the factory is working in profit.
ABOUT THE BANK
The Malanad service co-operative bank ltd.Vagamon under whose control the tea factory is proposed to be set up is a co-operative society registered under Co-operative society’s act of 1969 and its registered number is K-340.This area of co-operation of this service co-operative bank extends to the village, panchayath and this Co-operative Bank is already functioning well in the Idukki Distrct. This company was registered on 28 March 1970 and it started its business on 19.04.1970.This bank is considered to be one of the best working co-operative credit institutions in the state of Kerala. The head office of the bank
is at Vagamon. The bank has 3 branches viz, Vagamon, Elappara, Pasuppara. The bank also runs 3 man use outlets, the consumer stores and one coffeecollecting agency.
INDUSTRY PROFILE
History of Tea Tea is nearly 5,000 years old and was discovered, as legend has it, in 2737 B.C. by a Chinese Emperor when some tea leaves accidentally blew into a pot of boiling water. In the 1600s, tea became popular throughout Europe and the American colonies. Since colonial days, tea has played a great role in American culture and customs. Today American schoolchildren learn about the famous Boston Tea Party protesting the British tea tax — one of the acts leading to the Revolutionary War. During this century, two major American contributions to the tea industry occurred. In 1904, iced tea was created at the World's Fair in St. Louis, and in 1908, Thomas Sullivan of New York developed the concept of tea in a bag. Tea breaks down into three basic types: Black, Green, and Oolong. In the U.S., over 90 percent of the tea consumed is black tea, which has been fully oxidized or fermented and yields a hearty-flavored, amber brew. Some of the popular black teas include English breakfast (good breakfast choice since its hearty flavor mixes well with milk), Darjeeling (a blend of Himalayan teas with a flowery bouquet suited for lunch) and Orange Pekoe (a blend of Ceylon teas that is the most widely used of the tea blends). Green tea skips the oxidizing step. It has a more delicate taste and is light green/golden in color. Green tea, a staple in the Orient, is gaining popularity in the U.S. due in, part to recent,
scientific studies linking green tea drinking with reduced cancer risk. Oolong tea, popular in China, is partly oxidized and is a cross between black and green tea in color and taste. While flavored teas evolve from these three basic teas, herbal teas contain no true tealeaves. Herbal and "medicinal" teas are created from the flowers, berries, peels, seeds, leaves, and roots of many different plants STORY OF TEA Story of tea began in ancient China over 5,000 years ago. According to legend, the Shen Nong, an early emperor was a skilled ruler, creative scientist, and patron of the arts. His far-sighted edicts required, among other things, that all drinking water be boiled as a hygienic precaution. One summer day while visiting a distant region of his realm, he and the court stopped to rest. In accordance with his ruling, the servants began to boil water for the court to drink. Dried leaves from the nearby bush fell into the boiling water, and a brown liquid was infused into the water. As a scientist, the Emperor was interested in the new liquid, drank some, and found it very refreshing. Therefore, according to legend, tea was created.
Global Tea Industry The global tea industry is largely dominated by India - the largest producer and consumer of tea. India is followed by China, Sri Lanka, Kenya and Indonesia in the production hierarchy of countries.
The tea industry is peculiar: the soil characteristics, the climate and the rainfall determine the character of the tea and its taste. Tea affects the taste buds; therefore, it is difficult to replace a particular variety with a substitute. This
explains why certain types are favored by certain countries: for example, the CIS countries favour Indian and Sri Lankan teas. UK and Pakistan favour Kenyan teas.
India accounts for 30 per cent of world's production. While Sri Lanka, Kenya and Indonesia are the other leading producers; their combined production is lower than that of India. What makes India an interesting object of study is that its size is no millstone around its neck; its production growth between 1996 and 1998 at 5.63 per cent was way ahead of the increase in world production of one per cent only. The Asian region produces a varied range of teas and this, together with a reputation in the international markets for high quality, has resulted in her enjoying a share of every importing market in the world. Africa and South America also produce tea. Huge populations of Asia, the British Isles, Middle Eastern countries, Africa, and all the countries of the former Soviet Union, take tea throughout the day. Tea is a beverage made by steeping leaves in boiling water. The common tea plant is the evergreen shrub Camellia sinensis. There are several varieties of this species of plant, a well known one being the Indian Assam tea traditionally; tea is prepared from its dried young leaves and leaf buds. Although China is credited with introducing tea to the world, the evergreen tea plant is native to Southern China, North India, Myanmar and Cambodia. Low-grown teas are produced from 0 to600 m., mid-grown from 600 to 1,200 m, while the high-grown teas are cultivated between 1,200-2,000 m. The mid-grown and the high-grown in some areas can be divided into 'western' and 'eastern' according to the location of the estates. High-grown teas have a bright Hquor and superb flavor. This superior quality is caused by the cooler
temperatures at these altitudes which induces lower growth than in the hot, moist, low country. The seasonal monsoons, of course, also greatly affect the quality of tea (Anon. 1996).
Although there are a growing number of countries producing teas, in a multiplicity of blends, there are in fact only three main types of Camellia tea, green, 'oolong', and black. The difference lies in the 'fermentation', which actually refers to oxidative and enzymatic changes within the tealeaves, during processing. Green tea is essentially unfermented Oolong tea is partially fermented and black tea is fully fermented. Black tea, which represents 90% of international trade, yields an amber colored, full-flavor liquid without bitterness (Antol 1996; Marchant 1996). In addition to these conventional teas, many countries of Asia have a number of herbal teas ,made from brewing plant leaves, or other plant parts including flowers. For example, Gymnema sylvestre a member of the botanical family Asclepiadaceae, found mainly in India, has been used as a healthy and nutritive herbal tea which claims to have a number of medicinal properties (Chomchalow 1996). Numerous other herbal teas are gaining more and more popularity recently. Both orange pekoe and pekoe are black teas. The term 'pek-ho' is Chinese for 'white hair'or 'down', and refers to the golden-tipped Assam teas. Orange pekoe is made from the very young top leaves and traditionally conies from India or Sri Lanka; Pekoe comes from India, Indonesia or Sri Lanka and is made from leaves even smaller than those characteristically used for orange pekoe.
An Overview of the Indian Tea Industry
INDIAN TEA INDUSTRY The tea industry in India is about 170 years old. It occupies an important place and plays a very useful part in the national economy. Robert Bruce in 1823 discovered tea plants growing wild in upper Brahmaputra Valley. In 1838 the first Indian tea from Assam was sent to United Kingdom for public sale. Thereafter, it was extended to other parts of the country between 50's and 60's of the last century. However, owing to certain specific soil and climatic requirements its cultivation was confined to only certain parts of the country. Tea plantations in India are mainly located in rural hills and backward areas of Northeastern and Southern States. Major tea growing areas of the country are concentrated in Assam, West Bengal, Tamil Nadu and Kerala. The other areas where tea is grown to a small extent are Karnataka, Tripura, Himachal Pradesh, Uttaranchal, Arunachal Pradesh, Manipur, Sikkim, Nagaland, Meghalaya, Mizoram, Bihar and Orissa. Unlike most other tea producing and exporting countries, India has dual manufacturing base. India produces both CTC and Orthodox teas in addition to green tea. The weightage lies with the former due to domestic
consumers' preference. Orthodox tea production is balanced basically with the export demand. Production of green tea in India is small. The competitors to India in tea export are Sri Lanka, Kenya, China, Indonesia and Vietnam.
Tea is an agro-based commodity and is subjected to vagaries of nature. Despite adverse agro climatic condition experienced in tea growing areas in many years, Indian Tea Plantation Industry is able to maintain substantial growth in relation to volume of Indian tea production during the last one decade. There has been a dramatic tilt in tea disposal in favour of domestic market since fifties. While at the time of Independence only 79 M.Kgs or about 31% of total production of 255 M.Kgs of tea was retained for internal consumption, in 2006 as much as 771 M.Kgs or about 81% of total production of 956 M.Kgs of tea went for domestic consumption. Such a massive increase in domestic consumption has been due to increase in population, greater urbanization, increase in income and standard of living etc. Indian tea export has been an important foreign exchange earner for the country. There was an inherent growth in export earnings from tea over the years. Till 70s', UK was the major buyer of Indian tea Since 80s' USSR became the largest buyer of Indian tea due to existence of the trade agreement between India and erstwhile USSR. USSR happened to be the major buyer of Indian tea accounting for more than 50% of the total Indian export till 1991. However, with the disintegration of USSR and abolition of Central Buying Mechanism, Indian tea exports suffered a set back from 1992-93. However, Indian Tea exports Russia/CIS countries recovered from the setback since 1993 under Rupee Debt Repayment Route facilities as also due to long term agreement on tea entered into between
Russia and India. Depressed scenario again started since 2001 due to change in consumption pattern, i.e. switch over from CTC to Orthodox as per consumer preference and thus India has lost the Russian market. Another reason for decline in export of Indian tea to Russia is offering of teas at lower prices by China, South Asian countries like Indonesia and Vietnam. The major competitive countries in tea in the world are Sri Lanka, Kenya, China and Indonesia. China is the major producer of green tea while Sri Lanka and Indonesia are producing mainly orthodox varieties of tea. Kenya is basically a CTC tea producing country. While India is facing competition from Sri Lanka and Indonesia with regard to export of orthodox teas and from China with regard to green tea export, it is facing competition from Kenya and from other African countries in exporting CTC teas. Because of absence of large domestic base and due to comparatively small range of exportable items, Sri Lanka and Kenya have an edge over India to offload their teas in any international markets. This is one of the reasons of higher volume of export by Sri Lanka and Kenya compared to India. Another important point is that, U.K has substantial interest in tea cultivation in Kenya. Most of the sterling companies, after Indianisation due to implementation of FERA Act started tea cultivation in Kenya. So, it makes business sense for U.K. to buy tea from Kenya and Kenya became the largest supplier of tea to U.K.Tea is an essential item of domestic consumption and is the major beverage in India. Tea is also considered as the cheapest beverage amongst the beverages available in India. Tea Industry provides gainful direct employment to more than a million workers mainly drawn from the backward and socially weaker section of the society. It is also a substantial foreign exchange earner and provides sizeable amount of revenue to the State and Central Exchequer. The total turnover of the Indian tea
industry is in the vicinity of Rs.8000 Crs. Presently, Indian tea industry is having (as on 31.08.2010) ? 1655 registered Tea Manufacturers, ? 2008 registered Tea Exporters, ? 5148 number of registered tea buyers,
? Nine tea Auction centres.
India has long held the title of being the largest tea producer and consumer in the world. Though traditionally exports have been the engine for growth (and profits), the collapse of India's biggest customer (USSR) exposed India's 35% by volume. Hindustan Lever (HLL) leads with around 43-45% market share of the packaged tea market, while Tata Tea is the No. 2 with around 17-18% market share. Apart from these two players and Duncans, the market is extremely fragmented with many smaller /regional players. Here are some statistical facts about the Indian Tea Industry: ? The total turnover of the tea industry is around Rs. 10,000 crores. ? Since independence tea production has grown over 250%, while land area has just grown by 40%. ? There has been a considerable increase in export too in the past few years. Total net foreign exchange earned per annum is around Rs. 1847 crores. ? The labour intensive tea industry directly employs over 1.1 million workers and generates income for another 10 million people approximately. Women constitute 50% of the workforce.
The world leader India is the largest producer and consumer of tea in the world. India also leads in global R&D in tea industry. India is the largest manufacturer and exporter of tea machinery. Other major tea producers (also developing nations) source equipment and technology from India. The tea plantations were started in the middle of the 19th century under the British management. The farm ownership, however, is fragmented. The listed companies account for about 40% of total tea production. Also, there are a large number of small players. Some 80% of the farms are of the size less than 8 hectares and contribute only 10% of the production. The annual per capita consumption in India is low at 650gm compared to other countries like Pakistan (950gm), Sri Lanka (1.2kg), UK (2.5kg) and Ireland (3.16kg).
Indian tea statistics
Year 1995 1996 1997 1998 1999 2000 2001 2002 2003 Area 000hector 407.6 411.3 414.3 415.0 416.3 420.5 420.3 418.4 426.0 Prodn mnkg 620.8 665.3 600.0 688.1 720.3 754.2 732.3 760.8 752.9 Yield kg/hector 1523 1617 1689 1658 1731. 1794 1742 1819 1768 Exports mnkg Rsmn 204.3 5900.1 202.8 201.7 212.7 210.0 202.9 175.0 175.3 150.7 6465.6 6190.0 8489.8 11133.5 11345.5 9953.3 11612.6 9891.3 Price 1 Rs/kg 28.9 31.9 30.7 39.9 53.0 55.9 56.9 66.2 65.6
2004 2005 2006 2007 2008 2009(E)
427.1 429.7 432.3 445 450* n.a
756.0 780.0 810.6 870.4 805.6 875
1770 1815 1875 1956 1800 n.a Table 3.1
168.0 161.7 196.40 206.10 190.20 225
12080.2 12468.7 17308.1 23090 18486 n.a
71.9 77.1 85.3 76.91 74.78 n.a
Indian Exports
Name of the country
2007
Qty(mnKgs) Value(mn Rs)
2008
Qty(mnKgs) Value(mnRs) 1
USA UK CIS Germany Japan UAE Iran Poland
5.4 26.1 95.3 5.7 3.1 21.2 3.6 10.5
672.2 2251.1 7949.9 881.2 442.3 1817.1 284.0 856.3
6.6 19.6 93.5 4.2 3.0 22.1 1.9 9.7
744.2 1627.8 10048.4 837.0 502.9 2135.3 205.9 847.0
A.R.E
4.9
295.1
6.0
481.0
North India
South India
Total
Others Total
27.3 203.0
2298.4 17747.8
39.0 205.6
4174.7 21604.0
Table 3.2
CTC
2009
163.7
86.6
250.3
2008
157.2
80.8
238
2007
191.3
83.5
274.8
2006
158.6
80.0
238.6
Orthodox
2009
19.7
19.5
39.2
2008
11.5
16.4
27.9
2007
27.8
18.4
46.2
2006
22.5
15.8
38.3
Tea Production Table 3.3
Offices of Tea Board:
(a) Offices in India: With Head Office located in Kolkata, West Bengal it has fourteen offices which include Zonal, Regional and Sub-Regional Offices
located at the following cities/towns :
Coonoor Siliguri Chennai Agartala Kurseone Dibrugarh
Guwahati Mumbai Silchar Jorhat Pal amour
New Delhi Cochin Kottayam Tezpur Jabaieuri
Table 3.4
Functions of tea board:
The Tea Board has wide functions and responsibilities under the direction of the Central Government. Briefly the primary functions of the Tea Board are as under: a) Rendering financial and technical assistance for cultivation, manufacture and marketing of tea. b) Export Promotion c) Aiding Research and Development activities for augmentation of tea production and improvement of tea quality, d) Extend financial assistance in a limited way to the plantation workers and their wards through labour welfare schemes, e) To encourage and assist both financially and technically the unorganized small growers sector, f) Collection and maintenance of Statistical data and publication g) Such other activities as are assigned from time to time by the Central Government
CHAPTER – 4
DATA ANALYSIS AND INTERPRETATION
DATA ANALYSIS AND INTERPRETATION
The purpose of research and study is to find out an answer for a particular question. Analysis of data helps us to find out there answers.
Analysis means the computation of certain measures along with searching for patterns.
Age
Production
Marketing
Finance
Personnel
Q.c
Sales
Total
This chapter includes analysis and interpretation of data collected through questionnaire. The data for the study was collected from 40 respondents from Masco tea Factory. The questionnaire was personally presented before the respondents. This contains 20 statements concerning different variables involved in the management of time. Four alternatives were given for each statement viz. always, usually, sometimes and rarely. Data are analyzed on the basis of number of respondents. Mathematical tools like percentage are used to analyze data. At lasts an analysis of overall time management by the respondents is also carried out.
Below 25 25-35 35-45 45-55
4(66.66) 2(33.33) 6(100)
5[50] 2(20) 3(30) 10(100)
1(9.09) 3(27.27) 5(45.45) 2(18.18) 11(100)
1(16.6) 2(33.33) 2(33.33) 1(16.16) 6(100)
3(75) 1(25) 4(100)
1(33.35) 1(33.33) 1(33.33) 3(100)
8(20) 12(30) 16(40) 4(10) 40(100)
1. Classification of Sample on the basis of Age
Out of the 40 respondents an age wise classification is carried out. The age groups below 25, 25-35, 35-45, 45-55, the results of the survey is depicted in the following table.
Table 4.1 Table Showing Classification of Sample on the Basis of Age
It’s evident from the above table that out of the 40 respondents, 30% belong to age group 25-35 and 40% belong to 35-45. This indicates that the majority of the respondents belong to the upper middle class and middle class section. And only 20% & 10% constitute the below 25 and 45-55 age group respectively.
Figure 4.1 Diagram Showing Classification of Sample on the Basis of Age
40
P 30 e r c e 20 n t a 10 g e
0
40 30 20 10
Below 25
35-45
35-45
45-55
Source – Primary Data. Note- Figure in parenthesis indicate % total 2. Classification on the Basis of Monthly Income
For the purpose of a study we classify on the basis of monthly income. The monthly income groups taken for study includes below 5000, 5000-8000, 8000-10000 above 10000. The result of the survey is shown in the following table.
Table 4.2 Table Showing Classification of Sample on the Basis of Monthly Income
It’s evident from the above table that out of the 40 respondents, 7.5% belong to below 5000 Income Below 5000 5000-8000 800010000 Above 10000 Total Production 1(16.66) 2(33.33) 3(50) 6(100) Marketing 2(20) 5[50] 3(30) 10(100) Finance 5(45.45) 6(54.54) 11(100) Personnel 2(33.33) 3(50) 1(16.16) 6(100) Q.c 4(100) 4(100) Sales 1(33.33) 2(66.66) 3(100) Total 3(7.5) 10(25) 20(50) 7(17.5) 40
income group and 25% belong to between 5000-8000 income group. This indicates that the majority of the respondents belong to 8000-10000 income group with an average of 50% & 17.5% of the respondents belong to the above 10000/-.
Figure 4.2 Diagram Showing Classification of Simple on the Basis of Monthly Income.
15
P e r 10 c e n t 5 a g e 0
10 6
11 6 4 3
Production
Marketing
Finance
Personnel
qc
Sales
Source- Primary Data Note- Figure in parenthesis indicate % total
3. Statement wise Classification of Sample
To study the management of time information is collected through questionnaire. It contains 20 statements concerning different variables involved in the management of
time. Four alternatives were given for each statement like always usually sometimes and ready. The following tables analysis different statements based on management Of time. Table 4.3 I find that I have enough time for myself to do things I enjoy doing
Department Production Marketing Finance Personnel qc Sales Total
Always 1(14.21) 3(42.86) 19(14.29) 1(14.29) 1(14.29) 7(17.5)
usually 2(10.53) 3(15.79) 5(26.32) 3(15.79) 20(10.53) 20(10.53) 17(42.5)
sometimes 3(23.08) 4(30.77) 3(23.08) 2(15.38) 1(7.63) 13(7.5)
Rarely 2(66.66) 1(33.33) 3(7.5)
Total 6 10 11 6 4 3 40
It is clear from above table that out of 40 respondents 7(17.5) always agree with the statements and 17(42.5%) usually and sometime.
Figure 4.3 I find that I have enough time for myself to do things I enjoy doing
Production Marketing Finance Personnel qc Sales
Note- Figure In parenthesis indicates % to total
So it can be considered that most of the respondents find enough time for discharging their duties. Table 4.4 I am aware of deadlines and schedule my work to meet their in plenty of work
Department Production Marketing Department
Always 4(20) 4(20)
usually 2(18.18) 4(36.36)
Usually
sometimes 4(14.29)
Sometimes
Rarely 1(50)
Rarely
Total 6 10
Total
Always
Finance Personnel qc Sales Total
5(25) 4(20) 1(5) 2(10) 20(50)
3(27.27) 1(9.90) 1(9.90) 11(27.5)
3(42.86) 2(28.57) 1(14.29) 7(17.5)
1(50) 2(5)
11 6 4 3 40
Figure in ‘()’ indicates percentage to total out of 40 respondents 20(50%) always agree and 11(27.5) usually agree with the statement while 7(17.5%) and 2(5%) sometimes or rarely with the statement respectively Figure 4.4 I am aware of deadlines and schedule my work to meet their in plenty of work
120.00%
100.00% P e r c e n t a g e
80.00%
60.00%
40.00%
20.00%
0.00% Always Production Usually Sometimes Finance Rarely Personnel QC Marketing
This we can conclude that most of the respondents are aware of deadlines and schedules their work to meet in plenty of time.
Production Marketing Finance Personnel QC Total
4(22.22) 2(11.11) 4(22.22) 2(11.11) 3(16.66) 18(45)
1(7.14) 7(50.00) 3(21.43) 2(14.28) 1(7.14) 14(35) Table 4.5
1(14.29) 1(14.29) 4(57.14) (14.29) 7(17.5)
1(100)
6 10 11 6
1(2.5)
3 40
I write down specific objectives in order to work towards goal
Out of the 40 respondents, 18(45%) always agree with the statement, 14(35%) usually and 5(17.5%) sometimes. It is evident that a good majority admit the statement always of usually. It can be concluded that most of the respondents write specific objectives in order to work towards their goals. It is equally true for all the departments. Figure 4.5 I write down specific objectives in order to work towards goal
120.00% P 100.00% e r 80.00% c e 60.00% n t a 40.00% g e 20.00% 0.00% Always Usually Sometimes Finance Rarely Personnel QC Production Marketing
Source – Primary Data Table 4.6
I use a calendar to write down appointments, deadlines, things to do general notes
Department
Production Marketing Finance Personnel QC Sales
Always 4(26.66) 4(26.66) 5(33.33) 1(6.66) 1(6.66) -
Usually 2(22.22) 2(22.22) 3(33.33) 1(11.11) 1(11.11) -
Sometimes 4(28.57) 3(21.43) 2(14.29) 2(14.29) 3(21.43)
Rarely
Total 6 10 11 6 4 3 40
2(100.00)
-
Total
15(7.5)
9(22.5)
14(35)
2(5)
Out of the 40 respondents, 15(37.5%) always agree with the statement, 9(22.5%) usually and 14(35%) sometimes. It is evident that a good majority admit the statement sometimes or always. It can be concluded that most of the respondents are use a calendar to write down appointments deadlines and general notes. It is equally true for all the departments. Figure 4.6 I use a calendar to write down appointments, deadlines, things to do general notes
120.00%
P 100.00% e r 80.00% c e 60.00% n t 40.00% a g 20.00% e
0.00% Always Production Usually Marketing Sometimes Finance Rarely Personnel QC Sales
Source – Primary Data
Table 4.7
I feel in control of time while at work and at home
Department
Production Marketing Finance Personnel QC Sales
Always 3(20) 5(33.33) 5(33.33) 1(6.66) 1(66.66) -
Usually 1(6.25) 5(31.25) 4(25) 4(25) 1(6.25) 1(6.25)
Sometimes 2(25) 2(25) 2(25) 2(25)
Rarely
Total 6 10 11 6 4 3 40
1(100)
-
Total
15(37.5)
16(40)
8(20)
1(2.5)
Figure4.7 I feel in control of time while at work and at home
Production
Marketing
Finance
Personnel
QC
Sales
Source – Primary Data Note – figure in ‘( )’ indicate % to total out of 40 respondents, 15(37.5%) and 16(40%) are always and usually agreeing with the statement and 8(20%) sometimes. It is clear majority of respondents agree with the statement always and usually. This shows that most of respondents have control at work and at home.
Table 4.8
I plan and schedule my time on a weekly/monthly basis
Department
Production Marketing Finance Personnel QC Sales
Always 3(18.75) 5(31.25) 5(31.25) 1(6.25) 2(12.5) -
Usually 2(11.76) 4(23.53) 4(23.53) 3(7.64) 2(11.76) 2(11.76)
Sometimes 1(16.66) 1(16.66) 2(33.33) 1(16.66)
Rarely
Total 6 10 11 6 4 3 40
1(100)
-
Total
16(40)
17(42.5)
6(15)
1(2.5)
Out of the 40 respondents, 16(40%) always agree with the statement, 17(42.5%) usually and 6(15%) sometimes. It can be seen that a good majority admit the statement always or usually and this is applicable to all department. It can be concluded that most of the respondents plan & schedule their time on a weekly or a monthly basis. Figure 4.8 I plan and schedule my time on a weekly/monthly basis
45.00%
P e r c e n t a g e
40.00% 35.00% 30.00% 25.00% 20.00% 15.00% 10.00% 5.00% 0.00% Always Production Usually Marketing Sometimes Finance Rarely Personnel QC Sales
Source – Primary Data
Table 4.9
I make a daily-to-do list and refer it to several times per day
Department
Production Marketing Finance Personnel QC Sales
Always 1(11.11) 2(22.22) 3(33.33) 2(22.22) 1(11.11) -
Usually 2(15.38) 5(38.46) 3(25) 2(15.38) 1(18.33) -
Sometimes 1(11.11) 2(22.22) 2(22.22) 2(22.22) 1(11.11) 1(11.11)
Rarely 2(22.22) 1(11.11) 3(33.33) -
Total 6 10 11 6 4 3 40
1(11.11)
2(22.22)
Total
9(22.5)
13(32.5)
9(22.5)
9(22.5)
From the above data we can see that 9(22.5%) always agree with the statement 13(32.5%) usually agree and 9(22.5%) sometimes and 9(22.5%) go with the statement. By taking majority opinion of 40 respondents we are that there is 32.5% usually agreeing with the statement and the rest is in balance with each other. Figure 4.9 I make a daily-to-do list and refer it to several times per day
45.00%
P e r c e n t a g e
40.00% 35.00% 30.00% 25.00% 20.00% 15.00% 10.00% 5.00% 0.00% Always Production Usually Marketing Sometimes Finance Rarely Personnel QC Sales
This we can conclude the even though most of the respondents keep a daily to do list another action rarely or sometimes only keep it. Table 4.10
I am able to say ‘No’ when I am pressed for time
Department
Production Marketing Finance Personnel QC Sales
Always 1(11.11) 2(22.22) 4(44.44) 2(22.22)
Usually 3(21.43) 4(28.57) 4(26.57) 3(21.43) -
Sometimes 3(23.08) 4(30.77) 2(15.38) 2(15.38) 1(7.69) 1(7.69)
Rarely 1(25) 3(75) -
Total 6 10 11 6 4 3 40
-
Total
9(22.3)
14(35)
13(32.5)
4(10)
Out of the 40 respondents, 9(22.5%) always agree with the statement, 14(35%) and 13(32.5%) each for usually and sometimes 4(10%) for rarely agree the statement. It is clear that majority of respondents agree with the statement always or usually Figure 4.10 I am able to say ‘No’ when I am pressed for time
35.00% 30.00%
P e r c e n t a g e
25.00% 20.00% 15.00% 10.00% 5.00% 0.00% Always Production Usually Marketing Sometimes Finance Rarely Personnel QC others
Table 4.11
I try to delegate responsibility to others in order to make more time for myself
Department
Production Marketing Finance Personnel QC Sales
Always 2(33.33) 2(33.33) 1(16.66) 1(16.66) -
Usually 1(12.5) 4(50) 1(12.5) 1(12.5) 1(12.5)
Sometimes 3(17.65) 4(23.53) 4(23.53) 3(17.65) 2(11.76) 1(5.88)
Rarely 2(22.22) 4(44.44) 2(22.22)
Total 6 10 11 6 4 3 40
1(11.11)
Total
6(15)
8(20)
17(42.5)
9(22.5)
Out of the 40 respondents, 8(20%) usually agree with the statement, 6(15%) always do agree. But 17(42.8%) sometimes and 9(22.5%) rarely. From the above data we can see that a good majority of respondents rarely or sometimes delegate their responsibility to others. Figure 4.11 I try to delegate responsibility to others in order to make more time for myself
35.00% 30.00% 25.00% 20.00% 15.00% 10.00% 5.00% 0.00% Always Production Usually Marketing Sometimes Finance Rarely Personnel QC others
P e r c e n t a g e
Source – Primary Data Table 4.12
I organize my desk and work area to prevent clutter and confusions
Department
Production Marketing Finance Personnel QC Sales
Always 1(11.11) 2(22.22) 3(33.33) 2(22.22) 1(11.11)
Usually 5(18.52) 8(29.63) 5(18.52) 4(14.81) 3(11.11) 2(7.41)
Sometimes 3(100) -
Rarely -
Total 6 10 11 6 4 3 40
1(100)
-
Total
9(22.5)
27(67.5)
3(7.5)
1(2.5)
Out of the 40 respondents, 27(67.5%) usually agree with the statement, 9(22.5%) always and 3(7.5%) sometimes. It is evident that a good majority admit the statement that they organize their desk and work area to present clutter and confusion. Figure 4.12 I organize my desk and work area to prevent clutter and confusions
35.00% 30.00%
P e r c e n t a g e
25.00% 20.00% 15.00% 10.00% 5.00% 0.00% Always Production Usually Marketing Sometimes Finance Rarely Personnel QC others
Table 4.13
I find it is easy to eliminate or reschedule low priority items
Department
Production Marketing Finance Personnel QC Sales
Always 4(23.53) 3(17.63) 4(23.53) 2(11.76) 2(11.76) 2(11.76)
Usually 2(11.11) 7(38.38) 5(27.77) 1(5.55) 2(11.11) 1(5.55)
Sometimes 1(33.33) 2(66.66) -
Rarely 1(50) 1(50)
Total 6 10 11 6 4 3 40
-
Total
17(42.5)
18(45)
3(7.5)
2(5)
Out of the 40 respondents, 18(45%) usually agree with the statement 17(42.5%) always and 3(7.5%) sometimes. It is evident that majority agree with statements usually or always. Figure 4.13 I find it is easy to eliminate or reschedule low priority items
35.00% 30.00%
P e r c e n t a g e
25.00% 20.00% 15.00% 10.00% 5.00% 0.00% Always Production Usually Marketing Sometimes Finance Rarely Personnel QC others
This it can be concluded that majority find it easy to eliminate low priority items and gives more time to priority item. Table 4.14
I try to do things in a way that cuts down on duplicated efforts
Department
Production Marketing Finance Personnel QC Sales
Always 3(20) 5(33.33) 3(20) 1(66.66) 2(20) 1(6.66)
Usually 3(13.64) 4(18.18) 7(31.81) 5(22.73) 1(4.55) 2(9.90)
Sometimes 1(50) 1(50) -
Rarely 1(100) -
Total 6 10 11 6 4 3 40
-
Total
15(37.5)
22(55)
2(5)
1(25)
Out of the 40 respondents, 22(55%) usually agree with the statement, 15(37.5%) always and 2(5%) sometimes, hence it is clear that most of them agree always or usually. Figure 4.14 I try to do things in a way that cuts down on duplicated efforts
35.00% 30.00% 25.00% 20.00% 15.00% 10.00% 5.00% 0.00% Always Production Usually Marketing Sometimes Finance Rarely Personnel QC others
P e r c e n t a g e
Source – Primary Data
Table 4.15 I find that doing everything myself is very inefficient
Department
Production Marketing Finance Personnel QC Sales
Always 3(30) 3(30) 3(30) 2(20) 1(10) 1(10)
Usually 3(18.75) 3(18.75) 5(31.25) 4(25) 1(6.25) -
Sometimes 2(22.22) 2(22.22) 3(33.33) 2(22.22) -
Rarely 1(20) 2(40) -
Total 6 10 11 6 4 3 40
2(40)
Total
10(25)
16(40)
9(22.5)
5(12.5)
From the 40 respondents 16(40%) usually agree with the statement, 10(25%) always, 9(22.5%) sometimes and 5(12.5%) rarely. It is evident that 65% of the respondents always or usually agree and 40% sometimes or ready. Figure 4.15 I find that doing everything myself is very inefficient
35.00% 30.00% 25.00% 20.00% 15.00% 10.00% 5.00% 0.00% Always Production Usually Marketing Sometimes Finance Rarely Personnel QC others
P e r c e n t a g e
It can be concluded that majority of the respondents find that doing everything themselves is very inefficient. So they delegate their responsibilities.
Table 4.16 I try to shift priorities as soon as change
Department
Production Marketing Finance Personnel QC Others
Always 6(40) 1(6.66) 5(33.33) 2(13.33)
Usually 4(28.57) 5(35.71) 2(14.29) 2(14.29)
Sometimes 4(44.44) 1(11.11) 3(33.33) -
Rarely 1(50) -
Total 6 11 11 6 4 3 40
1(50)
-
Total
1(6.66) 15(37.5)
1(7.14) 14(35)
1(11.11) 9(22.5)
2(5)
From the above data collected from 40 respondents, 14(35%) usually and 15(37.5%) always. It is equally true for the entire department. It can be concluded that most of the respondents try to shift priorities as soon as they change. Figure 4.16 I try to shift priorities as soon as change
35.00% 30.00% 25.00% 20.00% 15.00% 10.00% 5.00% 0.00% Always Production Usually Marketing Sometimes Finance Rarely Personnel QC others
P e r c e n t a g e
Source – Primary Data
Table 4.17 My meetings and activities are organized and efficient
Department
Production Marketing Finance Personnel QC Others
Always 3(15.79) 5(26.32) 5(26.32) 4(21.05) 1(5.26) 1(5.26)
Usually 3(16.66) 4(22.22) 5(27.77) 2(11.11) 3(11.66) 1(5.55)
Sometimes 1(33.33) 1(33.33) 1(33.33)
Rarely -
Total 6 11 11 6 4 3 40
-
Total
19(47.5)
18(45)
3(7.5)
Out of the 40 respondents, 19(47.5%) always 18(45%) usually and 3(7.5%) sometimes. Figure 4.17 My meetings and activities are organized and efficient
35.00% 30.00%
P e r c e n t a g e
25.00% 20.00% 15.00% 10.00% 5.00% 0.00% Always Production Usually Marketing Sometimes Finance Rarely Personnel QC others
Source – Primary Data
CHAPTER – 5
FINDINGS AND RECOMMENDATIONS
Summary of Findings and Recommendations
One of the biggest stress factors we face, whether it is at work or a home, is our in ability to manage time. The lack of time management creates stress because without time we loose the freedom to do what need to be done, to be who we want to be enjoy the things we want to do. We accomplish only what we can fit in to our schedules. Time management, then allows us to organize our lives in way that makes happier and more productive. It gives us the ability to schedule ourselves, in to normal day to day routine so we are left with the time we need for ourselves and our family and it prevents chronic stress by eliminating the constraints we place on ourselves as a result if the poor or inadequate organizational kills. The following were the major objectives of the study. ? To know whether the employees of Masco tea Factory have enough knowledge about the importance of time management. ? To study various measures instituted in the company for an effective management of time in the area of work. ? To know how work is related with time. ? To interpret whether they use and manage their time effectively. ? To suggest some guidelines to manage the time effectively in work place. For the successful conduction of the study primary data were collected from 40 respondents from the company, identified randomly out of a list of employees given by them. A structured questionnaire was personally presented before the respondents. It contains 20 statements concerning different variables involved in the management of time. Four alternatives were given for each statement vise, always, usually, sometimes and rarely. Data are presented on the basis of different departments.
FINDINGS
The data collected are analyzed by appropriate mathematical tool such as percentages. The major findings emanating from study are summarized in following paragraphs. ? Age wise, a good majority belong to upper middle class and middle class sectors. ? On the basis of income, a good majority belong 8000-10000 income groups. ? Out of the 40 respondents, most of them find enough time to discharge their duties. ? Out of the 40 respondents majority of 50% always agree that they are aware of deadlines and schedule their work to meet them in plenty of time. ? It can conclude that most of the respondents write specific objectives in order to work towards their goals which are equally true for all the departments. ? Out of all the respondents majority agreed that they have the habit of using calendar to write down appointment, deadlines etc,.
? Most of the respondents agree that they have control at work and at home.
? Out of the 40 respondents, majority usually plan and schedule their time on a weekly or a monthly basis.
? Out of the 40 respondents, half of them maintain a daily-to-do list and refer it several times a day. Rest half rarely keeps a record. ? A majority state that they are able to say ‘No’ when they are pressed for time.
? Majority of respondents rarely delegate their respondents to others. ? Majority of the employees organize their desks and work area to prevent clutter and confusion.
? Most of the employees find it easy to eliminate priority items and given more time to priority items. ? Most of the respondents try to do things in a way that cuts down on duplicated efforts.
? Most of the employees find it efficient to do everything themselves. ? Majority of the respondents try to shift priorities as soon as they change. ? Most of the employees agree that their meetings and activities are well organized and efficient.
RECOMMENDATIONS
On the basis of the study, following recommendations are advanced for better management of time.
? Keeping a diary of activities and an accurate record of time wasters
should give us a clear picture of how we are doing as time mangers and how far we need to go to become time managers.
? Prioritize tasks according to importance. After writing down these
activities, give them a priority ranking, top, high, low or least.
? Schedule demanding tasks during periods of high energy. There are
morning, noon and night people. Scheduling in this manner will allow you to do your best on the important assignments.
? Eliminate time wasting activities. Eliminate all the things you do every
day that are unnecessary. Put them at the end of the list.
? Improve reading and writing skills. Effective communication including
the ability to read quickly and write coherently is basic to all effective time management.
? Finish one task before starting another. Some of us can handle several
things at the same time; most of us can’t. Assign a priority rating to each task and eliminate the tendency to procrastinate.
? Write it down. Taking good notes supplies you with information,
reminds you of priorities and provide you with a back up to your calendar. Always keep a pencils and small note pad available and get in the habit of using it.
? Develop an effective reminder system. No one can remember every
thing without a reminder; follow-up material and attention to small details suffer.
? Being in control is as important in time management as in stress
management. Avoid unnecessary calls and unorganized meeting or discussions.
? Plan schedules in an organized manner by using a calendar or
appointment book. These tools are organized in a way that makes scheduling and planning easy, effective and manageable.
? Leave some of your schedule open. Never fill up your schedule
completely, by leaving yourself available time for emergency meetings or unexpected jobs, you will be less anxious about your ability to schedule ‘just one more thing’.
? Develop and keep deadlines. Don’t put off projects. Procrastination just
makes deadlines harder to meet. Know when your deadlines are and keep them.
CONCLUSION
Since the commencement of business from 2000, the company has good track record. The company has followed a well structured time schedule and also managing the time effectively and efficiently without any kinds of delays. MASCO TEA is a small unit under the Malanad service cooperative society. It produces around 500 millions tones per annum. About 60% of the tea produced is sold through regular auction and the remaining 40% is sold through retail outlets. The unit provides employment to about 100 people comprising of permanent and temporary, skilled and unskilled labour and office staff for a two shift - operation in the factory.
And finally, the project helped me to understand the various departments and functions in the company.
BIBILIOGRAPHY
1. Dr. Andrew Goliszek 2. Aswatappa K 3. Elhance D.N 4. Fontana David 5. Sheikh A.M - Time Management 1st edition - Human Resource and Personnel management - Fundamentals of Statistics Allahabad 1987 - Management of Time Excel Book 1st edition - Human Resource Development
APPENDIX
A STUDY ON TIME MANAGEMENT AMONG EMPLOYEES OF MASCO TEA FACTORY
QUESTIONNAIRE
Please put a tick mark wherever applicable.
I.
Sample profile
: : (a)executive (b)operative level : : : production , Marketing , Finance Personnel , Q.C , Sales . Below 25, 25-35,35-45, 45-55, Above 55 Below 5000, 5000-8000, 800010000, above 10000
1. Name of employees 2. Category of employment 3. Department 4. Age 5. Monthly income
II.
Management of time
1. I find that I have enough time for myself to do things I enjoy doing. (a)Always, (b) Usually, (c) Sometimes, (d) Rarely 2. I am aware of the deadlines and schedule my work to meet them in plenty of work (a)Always, (b) Usually, (c) Sometimes, (d) Rarely 3. I write down specific objectives in order to work towards goal (a)Always, (b) Usually, (c) Sometimes, (d) Rarely
4. I use a calendar to write down appointment , deadlines things to do general notes (a)Always, (b) Usually, (c) Sometimes, (d) Rarely 5. I feel in control of time while at work and at home (a)Always, (b) Usually, (c) Sometimes, (d) Rarely 6. I plan and schedule my time on a weekly/monthly basis (a)Always, (b) Usually, (c) Sometimes, (d) Rarely 7. I make a daily- to do list and refer it to it several times per day (a)Always, (b) Usually, (c) Sometimes, (d) Rarely 8. I am able to say “No” when I am proceeding for time. (a)Always, (b) Usually, (c) Sometimes, (d) Rarely 9. I try to delegate responsibility to others in order to make more time for myself. (a)Always, (b) Usually, (c) Sometimes, (d) Rarely 10. I organize my desk and work area to present dotter and confusion (a)Always, (b) Usually, (c) Sometimes, (d) Rarely 11. I find it east to eliminate or reschedule low priority items. (a)Always, (b) Usually, (c) Sometimes, (d) Rarely
12.
I try to do things in a way that its down on duplicated (a)Always, (b) Usually, (c) Sometimes, (d) Rarely
13.
I find that doing everything I am very inefficient. (a)Always, (b) Usually, (c) Sometimes, (d) Rarely
14. I try to shift priorities as soon as they change (a)Always, (b) Usually, (c) Sometimes, (d) Rarely 15. My meeting and activities are well organized and efficient (a)Always, (b) Usually, (c) Sometimes, (d) Rarely 16. I know what I am capable of and try not to over extend myself (a)Always, (b) Usually, (c) Sometimes, (d) Rarely 17. I know what my responsibilities and duties are. (a)Always, (b) Usually, (c) Sometimes, (d) Rarely 18. I try to schedule the most difficult work during my most productive times. (a)Always, (b) Usually, (c) Sometimes, (d) Rarely 19. I finish one job or task before going to the next. (a)Always, (b) Usually, (c) Sometimes, (d) Rarely 20. I find it easy to keep up with changes that affect my schedule or work load. (a)Always, (b) Usually, (c) Sometimes, (d) Rarely
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