Organizational Climate at Bajaj Allianz Ltd

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A STUDY OF THE ORGANIZATIONAL A STUDY OF THE ORGANIZATIONAL CLIMATIC CONDITIONS PREVAILING CLIMATIC CONDITIONS PREVAILING INTRA-MURALLY IN A FINANCIAL INTRA-MURALLY IN A FINANCIAL ORGANISATION ORGANISATION ( A STUDY CONDUCTED AT BAJAJ ALLIANZ GENERAL A STUDY CONDUCTED AT BAJAJ ALLIANZ GENERAL INSURANCE LIMITED IN PATNA WITH SPECIAL INSURANCE LIMITED IN PATNA WITH SPECIAL REFERENCE TO JOB-STRESS MANAGEMENT REFERENCE TO JOB-STRESS MANAGEMENT ) (A report submitted in partial (A report submitted in partial fulfillment for the requirement fulfillment for the requirement of the award of Honours Degree of the award of Honours Degree in Business Administration) in Business Administration)

Transcript of Organizational Climate at Bajaj Allianz Ltd

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A STUDY OF THEA STUDY OF THE ORGANIZATIONAL CLIMATICORGANIZATIONAL CLIMATIC

CONDITIONS PREVAILINGCONDITIONS PREVAILING INTRA-MURALLY IN AINTRA-MURALLY IN A

FINANCIAL ORGANISATIONFINANCIAL ORGANISATION

((A STUDY CONDUCTED AT BAJAJ ALLIANZ GENERALA STUDY CONDUCTED AT BAJAJ ALLIANZ GENERAL INSURANCE LIMITED IN PATNA WITH SPECIALINSURANCE LIMITED IN PATNA WITH SPECIAL REFERENCE TO JOB-STRESS MANAGEMENTREFERENCE TO JOB-STRESS MANAGEMENT))

(A report submitted in partial(A report submitted in partial fulfillment for the requirement offulfillment for the requirement of the award of Honours Degree inthe award of Honours Degree in

Business Administration)Business Administration)

UNDER THE GUIDANCE OF:UNDER THE GUIDANCE OF:DR. SUBROTO GUHADR. SUBROTO GUHA(SENIOR FACULTY)(SENIOR FACULTY)

REPORT COMPILED REPORT COMPILED AND PREPARED BY:AND PREPARED BY:SWATI SINHASWATI SINHAROLL NO. 41ROLL NO. 41SESSION- (2007-10)SESSION- (2007-10)

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DEPARTMENT OF BUSINESS ADMINISTRATIONDEPARTMENT OF BUSINESS ADMINISTRATIONPATNA WOMEN’S COLLEGEPATNA WOMEN’S COLLEGE

BAILEY ROAD, PATNA-800001BAILEY ROAD, PATNA-800001

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Department of Business Administration

Patna Women’s College(NAAC Accredited-Grade A with CPE

Status)Bailey Road

Patna-800001, Bihar

Date: ……………......

Guide’s certificate

To whom it may concern

This is to certify that this Project Report titled-“A Study of the Organizational Climate prevailing Intra-Murally in a Financial Organization” (A Study conducted at Bajaj Allianz General Insurance Limited, Patna; with special reference to the management of the job stress), has been compiled and prepared by Miss. Swati Sinha, Roll/41, BBA-I, Session: 2007-2010; under my guidance and supervision.

This entire Project Work is an outcome of her own creativity, concept and imaginative effort.

I recommend this Project for being accepted and evaluated.

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Miss. Sweta Rani Dr. Subroto Guha(Co-ordinator) (Senior Faculty)

ACKNOWLEDGEMENTACKNOWLEDGEMENT

Any effort and activity always needs to be acknowledged by the person concerned in terms of thanksgiving. At the outset, I extend my deep gratitude to God Almighty without whose blessings and support, I could not have undertaken this Project Assignment at Bajaj Allianz General Insurance Limited.

My Parents- Dr. Pradeep Kr. Sinha and Mrs. R.K. Sinha an my elder brother Mr. Mayank Sinha, have been very cooperative and supportive in every respect as far as managing this entire activity has been concerned. My Principal- Dr. Sister Doris D’Souza A.C. also needs to be thanked in this regard for her valuable consent which she provided for my Summer Training. My Faculty Members, consisting of my Co-ordinator Ms.Sweta Rani, Ms. Shagufta Nasreen and others deserve special thanks for giving me a positive guideline in every respect as far as preparing the complete report is concerned.

This Report of mine would not have been completed without the active support of my Senior Faculty- Dr. Subroto Guha, who was instrumental in deciding the Project Theme and has been responsible for structuring the total Report format including the Basic Project Protocol. This entire Report has been his brain child and I owe him a deep sense of gratitude in this context.

My Friends- Ms. Jyoti Kumari, Ms. Jyoti Agrawal and Ms. Apurva have been a great source of inspiration during this entire Project Study and I shall never forget their support and co-operation.

The sense of gratitude shall not be complete, unless and until I express my thanksgiving to Mrs. Alpana Singh, Branch Head in the Organization under whose guidance this entire Study was conducted and completed. Without her support and motivation, this entire compilation would not have been ready.

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Finally I take this opportunity of extending my thanksgiving to each and every individual, with whom I came across and who directly or indirectly helped me in undertaking the study.

Place- Ms. Swati sinhaDate-

CONTENTSCONTENTSCh. No.Ch. No. PAGE NO.PAGE NO.

PREFACE

PROFILE OF THE STUDY

1. Hypothesis of the Study (i)

2. Objectives of the Study (ii)

3. Research Methodology (iii)

4. Limitations of the Study (iv)

Ch. 1 BAJAJ ALLIANZ GENERAL INSURANCE LTD.-An Introduction Bajaj Allianz General Insurance Co.

Business Focus

Why Bajaj Allianz?

Location of Bajaj Allianz General Ins. Offices in India

Corporate Values

Product and Services

Current Position of Bajaj Allianz General Insurance Ltd.

Ch. 2 ORGANIZATIONAL FRAMEWORK

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Board of Directors

Authority, Accountability & Responsibility Structure

Organizational Hierarchy Structure of Bajaj Allianz General Insurance, Patna

Ch. 3 COMMERCIAL PARAMETERS

Financial Highlights

Market Share Value

Balance Sheet as at 31st March

Ch. 4 CONCEPT OF ORGANIZATIONAL CLIMATIC CONDITIONS Literature Review of the Topic

Organizational Change

General Model for Integrating Cultural & Structural Change

Organization of Core Competencies for Individuals Leading Systematic Change Initiatives

Ch. 5 ANALYSIS & INTERRETATION OF THE STUDY

Ch. 6 FINDINGS OF THE STUDY

Ch. 7 CONCLUSIONS & RECOMMENDATIONS

BIBLIOGRAPHY

ANNEXURE

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PREFACE Summer Training Programme and Projects are an inevitable part of

a Professional Curriculum. On-the-job Training is “to learn by

doing itself”. The total concept of summer training rotates around a

system of protocols where the trainee/participant plan Study and

the orientations being derived from the Study Concerns can

exposure to a level of knowledge. Keeping all this in view, I was

placed with the Bajaj Allianz General Insurance Company

Limited, Patna. I was assigned a task concerning a Study related to

Organizational Climatic Conditions prevailing Intra-Murally in a

Financial Organization with special reference to Job-Stress

Management and a hypothetical aspect of the standing of Bajaj

Allianz General Ins. Ltd. in Patna. The Profile Protocol of a Report

generally is based upon a conceptual framework so as to provide

précised information about the entire Project Work. Keeping this

point it has been conceived, studied and analyzed.

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Profile ofProfile of the studythe study

Hypothesis of the Study

The principle hypothetical assumption of this study is based upon the fact

that every organization is subjected to an Organizational Climate, which

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surrounds the total organization from different angles and what is primarily

important refers to the internal setup and the Intra-Mural atmosphere.

Besides, the element of job related stress is quiet prominent and apparent in

every organizational scenario and precisely speaking, it needs to be managed

in a planned way so as to carve out the best possible results. This study

assumes that even in an organization like Bajaj Allianz General Insurance

Limited , the element of job related stress and the management of

Organizational Climate, needs to be correlated.

Objectives of the StudyObjectives of the Study

This entire study has been designed and developed to undertake certain

specific Aims and Objectives, and the major ones in this regard are:-

To access the Organizational Climatic Conditions which concern the

internal working ambience.

To explore the Intra-Mural Organizational Environment with special

reference to the ‘Job Stress Element’.

To explore the overall Organizational Conditions, so as to provide a

base which would from the angle of Management; help in correlating

the interaction between the Internal Organizational Climate and the job

related stress factors.

MethodologyMethodology

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The study is about the organizational climatic condition and the work stress

management in the Bajaj Allianz General Insurance Company Limited. The

study is done on the basis of both primary and secondary data bases

collected from the organization.

Primary Data Sources:

Help of the questionnaire from non-executives.

Informal talk with the executive personnel.

Informal talk with the employees of the organization.

Secondary Data Sources:

Induction Booklet regarding the information of the organization.

Information from the organization’s website.

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LimitationsLimitations

Employees are hesitant to speak about the organization, as they feel

that this would hamper the image of their organization. They think it

will hamper the image of the company. This shows their loyalty

towards their company but it prevents them from giving the true

picture and hence affecting the outcome.

Some of the employees were not willing to respond to the questions of

the survey as they believe that it would be of no use to them.

Some of the responses which we received, we found were filled with

biasness.

Despite these limitations, the study was conducted and the compilation in

this project would prove the hypothesis with which we have proceeded.

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CHAPTERCHAPTER -1-1

BAJAJ ALLIANZ GENERALBAJAJ ALLIANZ GENERAL

INSURANCE LTD.- AnINSURANCE LTD.- An

IntroductionIntroduction

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Introduction Introduction

Bajaj Allianz General Insurance Company Limited is a joint venture

between Bajaj Auto Limited and Allianz SE. Both enjoy a reputation of

expertise, stability and strength.

Bajaj Allianz General Insurance received the Insurance Regulatory and

Development Authority (IRDA) certificate of Registration (R3) on May 2nd,

2001 to conduct General Insurance business (including Health Insurance

business) in India. The Company has an authorized and paid up capital of

Rs.110 crores. Bajaj Auto holds 74% and the remaining 26% is held by

Allianz SE.

As on 31st March, 2007 Bajaj Allianz General Insurance maintained its

premier position in the industry by gamering a premium income of Rs.1803

crore. Bajaj Allianz has a profit before taxes of Rs.117 crore and emerged as

the first private insurance company to make profit before taxes of more than

Rs.100 crores. The company also was one of the highest profitable insurer

among private insurance companies and made a profit after tax of Rs.75

crores. Bajaj Allianz is the only company to make underwriting profits for

the last three years consecutively.

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Vision:Vision:

To be the first insurer for customers.

To be the preferred employer for staff in the insurance industry.

To be the number one insurer for creating shareholder value.

In the first quarter of the current financial year, 2007-08, Bajaj Allianz

garnered a premium income of Rs.547 crores, achieving a growth of 27%

over the last year for the same period and Net profits rose to Rs.21 crores.

Mission:Mission:

As a responsible, customer focused market leader, we will strive to

understand the insurance needs of the consumers and translate it into

affordable products that deliver value for money.

A Partnership Based on Synergy

Bajaj Allianz General Insurance offers technical excellence in all areas of

General and Health Insurance as well as risk management. The partnership

successfully combines Bajaj Auto’s in-depth understanding of the local

market and extensive distribution network with the global experience and

technical expertise of the Allianz Group. As a registered Indian Insurance

Company and a capital base of Rs.110 crores, the company is fully licensed

to underwrite all lines of general insurance business incl. health insurance.

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Bajaj Allianz GeneralBajaj Allianz General

Insurance Co.Insurance Co.

Bajaj Allianz General Insurance Company Limited is a joint venture

between two conglomerates- Allianz AG, one of the world’s largest

insurance companies, and Bajaj Auto, one of the biggest two three wheeler

manufacturers in the world. Bajaj Allianz General Insurance has a

shareholder base of over Rs.700 crores with an asset management value of

Rs.5500 crores and over 850 offices and 4 million satisfied customers.

Company BackgroundCompany Background

Bajaj Allianz General Insurance Company Limited (The Company) was

incorporated on 31st March, 2001 as a Company under Companies Act,

1956. The Company obtained a license from the Insurance Regulatory and

Development Authority (IRDA) for carrying on the business og general

insurance on 2nd May, 2001. The license has been renewed for the financial

year ended 31st March, 2007.

The Company is a joint venture between Bajaj Auto Ltd. (74 percent) and

Allianz SE (26 percent). The Company has a wide range of products in

traditional and unit-linked insurance business.

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The Joint VentureThe Joint Venture

Bajaj Allianz General Insurance Co. Ltd. is a Joint venture between Allianz

AG Bajaj Auto Limited characterized by global presence with a local focus

and driven by customer oriented to establish high earnings potential and

financial strength. Bajaj Allianz General Insurance Co. Ltd . was

incorporated on 31st March, 2001. The Company received the Insurance

Regulatory and Development Authority (IRDA) Certificate of Registration

(R3) on 2nd May, 2001 to conduct general insurance in India.

Bajaj Auto LimitedBajaj Auto Limited

The flagship company of Bajaj Group was incorporated in 1945 as Bachraj

Training Corporation. Initially, it started by assembling two and three

wheelers in collaboration with Piaggio of Italy. After the expiry of the

agreement in 1971 the two and three wheelers acquired the brand name of

Bajaj. The strength of the company lies in its strong brand image and ability

to offer value for money products leveraging on its large-scale operations.

Bajaj is one of the India’s largest two and three wheelers manufacturer and

the fourth largest manufacturer of two wheeler in the world, with an annual

turnover of Rs.42016 billion.

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Allianz AGAllianz AG

Allianz group was founded in 1980 and is one of the world’s leading

insurance companies with over 100 years’ experience in insurance and

related services. It is also the largest insurer in Europe. Allianz group has

multi-local structure and presence in over 70 countries. The key business

area of Allianz group includes Life Insurance, Reinsurance, Risk

Management, General Insurance, Asset Management and Pension Fund

Management.

Cornhill Insurance in the United Kingdom, Fireman’s Fund in the United

States of America, AGE in France, RAS s.p.a. in Italy, MMI in Australia are

some companies under Allianz group.

Allianz SEAllianz SE

Allianz SE is a leading insurance conglomerate globally and of the largest

asset managers in the world, managing assets worth over a Trillion Euros

(Over Rs.55,00,000 crores). Allianz SE has over 115 years of financial

experience in over 70 countries. Allianz has insured most of the world’s

largest infrastructure projects, further Allianz insures the majority of the

fortune 500 companies, besides being a large industrial insurer, and Allianz

has a substantial portfolio in the commercial and personal lines sector, using

a wide variety of innovative distribution channels.

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Allianz SE has the following to offer Bajaj Allianz General Insurance

Company Ltd.:

Set up and running of General insurance operations.

New and improved international products.

One of the world's leading insurance companies.

More than 700 subsidiaries and 2 lac employees in over 70 countries

worldwide.

Provides insurance to almost half the Fortune 500 companies.

Technology.

Other similar businesses:

The promoters have also incorporated a Life insurance Company in India,

called Bajaj Allianz Life Insurance Company Limited to provide life

insurance solutions.

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Business FocusBusiness Focus

The business strategy of Bajaj Allianz General

Insurance Co. Ltd. is to position itself as a leading

corporate and retail insurance company catering to

the needs of its customers by providing a bouquet

of products that will cater to every need.

At Bajaj Allianz General Insurance, the guiding principles are customer

service and client satisfaction. All efforts are directed towards understanding

the culture, social environment and individual insurance requirements of its

customers so that it can cater to their varied needs.

The company work closely with leading intermediaries including corporate

agents; motor dealers; agents; banks; associations and other intermediaries

to focus on corporate and retail businesses. At Bajaj Allianz General

Insurance, it leverages the customer base and expertise of Bajaj Auto

Limited and Allianz AG.

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The company is technology driven and strives to set up world-class

technological infrastructure. This includes a renowned software; networking

of all offices and intermediaries as well as the ability to interface with

customers via all media.

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Why Bajaj Allianz ?Why Bajaj Allianz ?

The Bajaj Allianz DifferenceThe Bajaj Allianz Difference

Business strategy aligned to clients' needs and trends in Indian and

global economy / industry.

Internationally experienced core team, majority with local

background.

Fast, decentralized decision making.

Long-term commitment to market and clients.

Trust Trust

At Bajaj Allianz, we realize that you seek an insurer whom you can trust.

Bajaj Auto Limited is a part of Bajaj group, which is a trusted name for over

55 years in the Indian market and Allianz SE has over 110 years of global

experience in financial services. Together we are committed to provide you

with time tested and trusted financial solutions that provide you all the

security you need for your investments.

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Underwriting PhilosophyUnderwriting Philosophy

Our underwriting philosophy focuses on:

Understanding the customer's needs.

Underwriting what we understand.

Meeting the customer's requirements.

Ensuring optimal coverage at lowest cost.

Claims PhilosophyClaims Philosophy

The Bajaj Allianz team follows a service that aims at taking the anxiety out

of claims processing. We pride ourselves on a friendly and open approach.

We are focused towards providing you a hassle free and speedy claims

processing. Our claims philosophy is to:

Be flexible and settle fast.

Ensure no claim file to be seen by more than 3 people.

Check processes regularly against the global Allianz OPEX

(Operational Excellence) methodology sold over 1 million since

inception.

Customer OrientationCustomer Orientation

At Bajaj Allianz, our guiding principles are customer service and client

satisfaction. All our efforts are directed towards understanding the culture,

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social environment and individual insurance requirements - so that we can

cater to all your varied needs.

Experienced and Expert ServicingExperienced and Expert Servicing

TeamTeam

We are driven by a team of experienced people who understand Indian risks

and are supported by the necessary international expertise required to

analyze and assess them. Service engineers are located in every major city.

Superior TechnologySuperior Technology

In order to ensure speedy and accurate processing of your needs, we

have established world class technology, with renowned insurance

software, which networks all our offices and intermediaries.

Using the Web, policies can be issued from any office across the

country for retail products.

Unique, user friendly software developed to make the process of issue

of policies and claims settlement simpler (e.g. online insurance of

marine policy certificate).

Unique Forms of Risk Cover Unique Forms of Risk Cover

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Special PA cover for Amarnath Yatris.

Film insurance.

Event management cover.

Sports & Entertainment Insurance Package.

Risk Management- Our ExpertiseRisk Management- Our Expertise

The service methodology is tried, tested and Proven the world over and

involves:

Risk identification: Inspections.

Risk analysis: Portfolio review and gap analysis.

Risk retention.

Risk Transfer: To an insurer as well as reinsurer (as required).

Creation of need based products.

Ongoing dialogue and proactivity.

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A well knit network with nationwide presenceA well knit network with nationwide presence

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Bajaj Allianz today has a network presence in over 200 towns spread across

the length and breadth of the country. From Surat to Siliguri and Jammu to

Thiruvananthapuram, all the offices are interconnected with the Head Office

at Pune.

The Company has an offsite disaster recovery centre for its data back ups,

which is in separate seismic zone from the main data centre. It has a wide

network and is spread in almost all over the country.

Bajaj Allianz General Insurance is the only Insurance company in India that

has been showing underwriting profits for the past 6 years consistently.

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Corporate ValuesCorporate Values

The core values are the never-changing definition of who we are and what

we stand for as Bajaj Allianz. They form the very foundation of the business

and guides every action and thoughts of the company.

There are 7 corporate values that they have that and they will look at each

one of them in details.

Value 1- Customer FirstValue 1- Customer First

Philosophy: Customer First, Always.

Guide for Action: Give first priority to customer needs. Look to build

enduring relationships with customers- external and internal. Differences

should be communicated in the spirit of relationship building.

Value 2- Organization Above SelfValue 2- Organization Above Self

Philosophy: Believes that individual, team and department actions will be

driven by organization goals.

Guide For Action: When in dilemma, they will choose decisions that

help the organization achieve its goals. This may at times mean giving up

their individual preferences.

Value 3- TrustValue 3- Trust

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Philosophy: Believes that there cannot be teamwork without mutual trust.

Trust is fundamental to their business and will guide all internal and external

interactions.

Guide For Action: Know that they are trusted. The responsibility of

maintaining this trust is with each of them. Trust includes transparency

feedback and accountability for lapses.

Value 4- High StandardsValue 4- High Standards

Philosophy: Believes that excellence can be achieved only by setting

benchmarks that challenge their full potential as an organization as an

individuals.

Guide For Action: When in dilemma, they will choose decisions that

help the organization achieve its goals. This may at times mean giving up

our individual preferences.

Value 5- Shared OwnershipValue 5- Shared Ownership

Philosophy: Believes that ownership of success or failure in achieving

organizational or team goals is shared by all.

Guide For Action: Team goals are achieved only if each team member

achieves his/her individual goals. While owning our individual

responsibilities they will seek opportunities to contribute to and be

accountable for achieving team and organizational goals.

Value 6- Spirit Of AdventureValue 6- Spirit Of Adventure

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Philosophy: Uncertainty is their business and they believe in continuous

innovation and creativity to meet challenges head-on. They will foster a

work culture that promotes risk taking and entrepreneurship.

Guide For Action: New ideas are to be encouraged. They will look for

creative ways of dealing with challenges. If something can be done better,

they will try it. If something does not make sense, they will change it.

Value 7- Respect For DiversityValue 7- Respect For Diversity

Philosophy: Believes that diversity is our strength and needs to be

nurtured. They recognize that team-members have varying backgrounds,

competencies, ideas and constructive action results only when opinions are

aired and understood.

Guide For Action: They will remain open to and evaluate viewpoints of

all team-members before arriving at a final decision. They will remain

overcome personal and cultural biases in dealing with situations.

Product and ServicesProduct and Services

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Bajaj Allianz General Insurance Co. offers a majority of products available

in India and internationally.

PRODUCTS

HEALTH INSURANCEPersonal Guard

Group Mediclaim

Health Ensure

Critical Illness

LIABILITY

Product

Directors &

Officers

Public Liability

MOTOR

2 wheelers

4 wheelers

Common Vehicles

MICELLANEOUS

Shopkeepers Package

Office Package

Workmen’s

Compensation

Fidelity Guarantee

SPECIALITY LINES

Jeweller’s Block

Aviation

Public Liability

ENGINEERING

Industrial All risk

Erection All Risk

Constructor All Risk

Currently the Indian insurance market is De-Tarrifed, meaning the insurer

has got the liberty to charge/frame terms based on assessment of the risk

proposal. Some of the most important products and services rendered by the

company are:

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Risk Analysis

Risk Grading & Risk Control

HAZOP Studies

Safety Audit

Disaster Management Planning

Risk Management training

Development and Monitoring of Risk Management Programmes

Insurance Portfolio Analysis

Accident Investigations

A Range of Corporate and RetailA Range of Corporate and Retail ProductsProductsDE-TARRIFED PRODUCTS SINCE JANUARY’07:

Industrial All Risk

Workmen’s Compensation

Engineering-Operational (includes Contractor’s Plant and Machinery,

Electronic Equipment, Loss of Profits, Boiler Explosion, Machinery

Breakdown, Deterioration of Stocks)

Engineering-Projects (includes EAR, CAR and ALOP)

Fire (including Consequential Loss)

Motor (includes private cars, two wheelers and commercial vehicles)

OTHER PRODUCTS:

Health Personal Guard Hospital Cash Health Guard

Shopkeepers Fidelity Guarantee Office Package Motor Dealer’s Package

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Critical Illness Silver Health E-opinion Star Package

Overseas Travel Swades Yatra Aviation Tea Crop Insurance Burglary Cash Plate Glass Householders

Marine Cargo Marine Hull Public Liability Act Public Liability Product Liability Composite Public Product

Liability Professional indemnity Farmer’s Package Cattle Insurance Credit Insurance

In addition to the above products and services, several customized & co-

branded products for banks are also available.

Corporate Agents, Brokers AndCorporate Agents, Brokers And

FranchisesFranchises A constantly growing nationwide network of corporate agents,

Brokers and Franchises.

A decentralized, dedicated team of professionals help results, develop

and support Corporate Agents, Brokers and Franchises.

Group BusinessGroup Business A growing product range to meet generic and specific needs of

various groups like Group Team Insurance , Gratuity, Group

Superannuation, MRTA, GTL in lieu of EDU are a few among

many others.

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A dedicated team ensures best standards in terms of services and

delivery.

200 Group Schemes.

Inline Selling and RenewalsInline Selling and Renewals An online customer portal for policy servicing issues.

Financial Services ConsultantsFinancial Services Consultants A panel of expert financial advisors to address comprehensive

financial planning needs for high net worth clients.

Products designed to suit your needs.

Agency ChannelsAgency Channels A country wide network of 1000 offices.

Over 8,500 Sales Team Managers.

Over 1,50,000 Insurance Consultants.

Over 1,50,000 Satisfied Customers.

Banc assuranceBanc assuranceBanc assurance is one of the key business strategies and forms the core focus

area. It has tie-ups with several leading national and private sector banks.

Standard Chartered Bank.

Syndicate Bank.

Other leading Co-operative Banks.

Ever-expanding reach, through tie-ups with Regional Banks.

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Exclusive General Insurance Products- MRTA and Credit Sales.

Products customized to suit specific needs of banks and their

customers.

Alternative ChannelsAlternative Channels The Strategic Alliances group at Bajaj Allianz focuses on

strengthening the business through ‘Group Insurance 3’ and

‘Corporate Agency’ activities.

Current Position of BajajCurrent Position of Bajaj

Allianz General InsuranceAllianz General Insurance

Financial year 2007-08 was very satisfying as it crossed many milestones

and set few records. The year has been a rewarding one for the company on

profitability as well as growth. The Company has emerged as one of the

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leading private general insurance companies with a strong brand name and

multi-channels Pan-India distribution network.

SOME OF THE KEY PERFORMANCE INDICATORS ARE:

It maintained its premium position in the industry garnering a

premium income of Rs.1,803 crores.

Bajaj Allianz has made a profit before taxes of Rs.117 crores.

Emerged as the first Private Insurance Company to make profit

before taxes more than Rs.100 crores.

Company was also one of the highest profitable insurer among

insurance companies and made profit after tax of Rs.75 crores.

Bajaj Allianz is the only company to make underwriting profits for

the last three years.

During the year under review general insurance industry registered a growth

of 24% by writing gross premium of Rs.227 billions during April 2007 to

February 2008 from Rs.183 billions in the corresponding period of the

previous year. The Private Sector companies grew by 48% increasing their

share to Rs.80 billions compared to Rs.54 billions in 2006-07. The company

grew by 40% and maintained its second position among the private sector

companies.

The major development was the formation of the third party motor

reinsurance pool for commercial vehicles. This pool has come into effect

from 1st April’07. Although the third party motor insurance rates have been

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increased by up to 75%, the increase is substantially lower than what is

required for companies to earn a reasonable economic profit.

Efficient customer service is a sine qua non of any service industry,

particularly general insurance. The company had undertaken a customer

satisfaction survey for motor insurance, which is the most visible line of

retail business. The survey was done to measure Net Promoter score (NPS),

which can be a benchmark of customer satisfaction. The feedback from the

survey has enabled the company to launch several initiatives which will

further enhance its leadership in customer services.

The “online selling” channels initiated a year ago to tap the growing internet

user populations was consolidated, thus offering the convenience to the

customers. It has also helped in enhancing services to the customers through

direct contact as well as to acquire new customers.

Geared to Perform:Geared to Perform: Products tailored to suit the needs of the customers.

Decentralized Organizational structure enables faster response.

Wide reach to serve customers’ better- a network of thousand officers

across India.

Specialized departments for banc assurance, corporate agencies and

group business.

Well networked customer care centers with state of the art IT systems.

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High standard of customer services and simplified claim settlement

process.

Website to provide all assistance and information across all products

and services, online buying rewards.

Toll free numbers to answer all queries.

A strong telemarketing and direct marketing team.

Achievements:Achievements:Bajaj Allianz has received "iAAA” rating, from ICRA Limited,

an associate of Moody's Investors Services, for Claims Paying

Ability. This rating indicates highest claims paying ability and a

fundamentally strong position.

CHAPTER-2CHAPTER-2

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ORGANIZATIONALORGANIZATIONAL

FRAMEWORKFRAMEWORK

Board of directorsBoard of directorsRAHUL BAJAJ

Chairman,

Bajaj Auto Ltd.

NIRAJ R. BAJAJ

Managing Director,

Promoter-

Bajaj Group.

SANJIV BAJAJ

Managing Director,

Bajaj Capital Limited.

DR. WERNER ZEDELIUS

Board of Management,

Growth Market,

Allianz SE.

HEINZ DOLLBERG

Executive Vice-President,

Head of Asia Pacific,

Allianz SE.

DON NYUGEN

Senior Vice-President,

Head of Property & Casualty

Page 39: Organizational Climate at Bajaj Allianz Ltd

RANJIT GUPTA

Vice-President

(Insurance),

Bajaj Auto Ltd.

DIPAK PODDAR

Managing Director,

Bajaj Auto Finance

Ltd.

Allianz Asia Pacific.

BRUCE BOWERS

CEO, Allianz Insurance

Management,

Asia Pacific Pvt. Ltd.

SWARAJ KRISHNAN

CEO, Bajaj Allianz

General Insurance Ltd.

Authority,Authority, ResponsibilityResponsibility

andand AccountabilityAccountability

Page 40: Organizational Climate at Bajaj Allianz Ltd

RelationshipRelationship StructureStructure

Page 41: Organizational Climate at Bajaj Allianz Ltd

CEOSwaraj

KrishnanPune HO

Head-Internal Audit

Ketul PatelDelhi HO

Head-Corp Commn

Satntosh BalanPune HO

Head Global Accounts

Carsten GlombikPune HO

Technical HeadsAll Lines Zonal Managers

Head-Underwriting

T.A. RamalingamPune HO

Head-Motor Claims

Vijay KumarPune HO

Head-Health InsuranceShreeraj

DeshpandePune HO

Head-Non Motor Claims

Sanjay MoholkarPune HO

Head-Ops & Renewals

Atul DeshpandePune HO

Head-ReinsuranceRajeev Singh

Pune HO

CFOS. Sreenvasan

Pune HO

Head-HRRoopa Kochhar

Pune HO

Zonal ManagerTapan Singhel

Delhi RO

Zonal ManagerEaswara Narayan

Mumbai RO

State HeadHren Vora

Ahmedabad

Responsible for:North Zone, Delhi NCR, East Zone,

Central Zone(MP & Chhatisgarh

only)

Responsible for:South Zone,Mumbai and

Central

Head-ITThomas VarghesePune HO

DEPICTED ABOVE IS THE ORGANIZATION CHART OF PEOPLE WHODEPICTED ABOVE IS THE ORGANIZATION CHART OF PEOPLE WHO

REPORT TO THE CEO, MR. SWARAJ KRISHNANREPORT TO THE CEO, MR. SWARAJ KRISHNAN

Page 42: Organizational Climate at Bajaj Allianz Ltd

National HOD’s MarketingNational HOD’s Marketing

The Technical Heads are located at the corporate office and have functional

reporting from the regional and branch offices.

To take care of multi-location activities, we have currently 9 regional offices

and are operational is a total of 169 Offices.

CEOSwaraj Krishnan

GM-Retail Mktg.Atanu Mukherjee

Pune HO

Head-Direct Mktg & Agency

Anamika RoyrashtrawarPune HO

Banc assuranceAmitava Biswas

Pune HO

Travel & Motor Dealers

Shiva ShankarPune HO

AgencyChetan prakash

Pune HO

DMAtul MehtaPune HO

Page 43: Organizational Climate at Bajaj Allianz Ltd

OrganizationalOrganizational HierarchyHierarchy

Structure Of BajajStructure Of Bajaj Allianz GeneralAllianz General

Insurance, PatnaInsurance, Patna

Page 44: Organizational Climate at Bajaj Allianz Ltd

Branch headAlpana singh

AVP MktgAdministrationPriyamvda Vardhan

Admin Exec.

IT-HeadVishal, IT C

AccountsRajeev Ranjan

Branch Accountant

Operations

Underwriter Banc assurance

Motor Agency

Claims Direct Mktg.

Mukesh KumarDEO

Kumar PrakashDEO

Anunay KumarMotor underwriting

Yashshavi BakshiNon-Motor

underwriting

Mayank RanjanOps Banc assurance

Amit KumarRelationship Manager-

Axis

Sushant ShekharRelationship Manager-UBI

Rajendra kr. ThakurRelationship officer

Saba NaseemRelationship Manager-HDFC

Manjeet SaurabhRelationship Manager-HDFC

Rajesh Kr. DasSr. Exec.

Rakesh RanjanCSR/Mktg

Suraj Kr. SinghJr. Exec Mktg.

Dharmendra Pratap SinghCSR

Vikash KumarExecutive

Dhananjay KumarJr. Exec. Mktg

Anshu SinhaAgency Admin.

Kumar DushyantService Engineer

Syed Waqar AhmedJr. Service Engineer

Dhiraj KumarService Engineer

Amit KumarService Engineer

Arvind KumarService Engineer

Naveen GauravJr. Team Leader

Aditya VermaOperation

Ravi KantSales Officer

Chandan KumarSales Officer

Amir AlamSales Officer

Anil KumarSales Officer

Rahul Kr. SinghSales Officer

VikashSales Officer

Hansraj BalmikiSales Officer

Sanjeev Kr. SinghSales Officer

Santosh kr. SinghSales Officer

Rakesh KumarSales Officer

Manoj KumarSales Officer

Page 45: Organizational Climate at Bajaj Allianz Ltd

CHAPTER-3CHAPTER-3

COMMERCIALCOMMERCIAL

PARAMETERSPARAMETERS

Page 46: Organizational Climate at Bajaj Allianz Ltd

Financial HighlightsFinancial Highlights

Financial parameters: In Millions (Rs.)

PARTICULARS 04-05 05-06 06-07

Gross Written Premium 8,561 12,846 18,033

Net Written premium 4,793 6,987 10,398

Net Earned Premium 3,709 5,864 8,385

Net Incurred Claims 2,263 4,100 5,556

Net Commissions 419 622 786

Net Retention Ratio 56% 54% 58%

Claims Ratio 61% 69.9% 66%

Combined Ratio 89.9% 96.1% 97%

Others 28 68 21

Profit Before Tax 770 818 1,170

Net Profit 471 520 750

Gross Claims Paid 2,685 7,496 7,234

No. of Policies Issued 2,177,766 3,946,105 4,901,754

No. of Claims Handled 146,830 241,670 284,184

Management Expenses -1,455 -2,156 -3,454

Management Expenses Ratio 40% 37% 41%

Income from Investments 388 570 895

Shareholder’s Equity 1,824 2,767 4,116

Return on Equity 34% 23% 22%

Assets under Management 924 1,371 2,540

Page 47: Organizational Climate at Bajaj Allianz Ltd

Growth Premium Underwritten For And Up to The Month OfGrowth Premium Underwritten For And Up to The Month Of

January 2008January 2008

INSURERAPRIL-JANUARY GROWTH

(%)

Mkt. Share(%)2007-08 2006-07

Royal Sundaram 566.20 494.13 14.58 2

Tata-AIG 672.28 636.27 5.66 3

Reliance General 1673.64 712.26 134.98 7

IFFCO-Tokio 927.47 925.00 0.27 4

ICICI-Iombard 2903.10 2601.56 11.59 12

Bajaj Allianz 1925.46 1474.27 30.60 8

HDFC General 185.98 156.21 19.05 1

Cholamandalam 435.52 258.65 68.38 2

Future Generali 5.43 0.00 - 0

New India 4361.44 4099.73 6.38 19

National 3296.06 3108.45 6.04 14

United India 3076.39 2901.45 6.02 13

Oriental 3224.71 3305.00 -2.43 14

PRIVATE TOTAL 9295.08 7258.36 28.06 40

PUBLIC TOTAL 13958.60 13414.96 4.05 60

GRAND TOTAL 23253.68 20673.32 12.48 100

SPECIALISED INSTITUTIONS:

1. Credit Insurance (ECGC) 530.95 492.78 7.75 -

2. Health Insurance

Star Health & Allied Insurance 157.25 16.86 832.67 -

Apollo DKV 0.61 0.00 - -

Balance Sheet as at 31Balance Sheet as at 31 stst March March

Page 48: Organizational Climate at Bajaj Allianz Ltd

PARTICULARS SCHEDULE 2006 2007

SOURCES OF FUND

Shareholders’ Fund:

Share Capital 5 1,100,500 1,101,331

Reserves & Surplus 6 1,570,220 2,932,834

Fair Value Change Account 96,651 81,570

Borrowings 7 - -

Total 2,767,3710 4,115,735

APPLICATIONS OF FUNDS

Investments 8 7,580,193 13,004,052

Loans 9 - -

Fixed Assets: 10

Gross Block 707,409 918,458

Less:-Accumulated Depreciation 363,389 533,424

Net Block 344,020 385,034

Capital Work-in-Progress 8,948 112,812

352,968 497,846

Deferred Tax Asset 53,579 100,050

Current Assets:

Cash and Bank Balances 11 981,005 2,240,408

Advances and Other Assets 12 1,665,092 1,118,303

Sub-Total(A) 2,646,097 3,358,711

Current Liabilities 13 4,081,074 7,016,903

Provisions 14 3,784,392 5,828,021

Sub-Total(B) 7,865,466 12,844,924

Net Current Assets (C)=(A-B) (5,219,369) (9,486,213)

Miscellaneous Expenditure(to the extent not written off or adjusted)

15 - -

Debit Balance in Profit and Loss Account - -

Total 2,767,371 4,115,735

Page 49: Organizational Climate at Bajaj Allianz Ltd

CHAPTER-4CHAPTER-4

CONCEPT OFCONCEPT OF

ORGANIZATIONALORGANIZATIONAL

CLIMATICCLIMATIC

CONDITIONSCONDITIONS

Page 50: Organizational Climate at Bajaj Allianz Ltd

A Study of Organizational ClimaticA Study of Organizational Climatic

Conditions Prevailing Intramurally inConditions Prevailing Intramurally in

a Financial Organizationa Financial Organization

Over the past few decades large-scale organization change has become a

way of life in American business. TQM, cycle-time reduction, process re-

engineering, theory of Constraints, and general flattening of the organization

have, at various times, led the parade of favored approaches to organization

change.

But many organization change initiatives, in these or other forms, have

failed to deliver promises of increased productivity and morale, decreased

costs, decreased waste, and increased customer satisfaction. McKinsey has

reported that more than two-thirds of Quality initiatives over the past few

decades have failed to realize the benefits stakeholders expected.

Often among the failures common themes has been the lack of collaborative

cultural inquiry and re-designs. New work structures such as autonomous

teamsare established and people simply are expected to become

empowered by these new ways in which they are working. Yet, largely due

to a lack of understanding of the power of the collective human system to

obstruct the progress of initiatives, many merely structural change programs

have foundered. A sad result of these failures has been to reinforce fear,

defensiveness, and cynicism among people at work toward organization

change efforts.

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In cases of successful, durable change, what are the characteristics of these

programs that we can point to as important factors in the successes to date?

If there are common factors in successes, what are they, and how can we

learn whether these and/or other factors may be helpful for particular change

agendas? And even if we can point to fortunate success stories, the question

arises: what is missing in these initiatives that could help them be even more

successful?

As the 21st Century dawns we increasingly see a move toward the

integration of methods and techniques from widespread disciplines into

meta-methodologies for organizational change. In a spirit of cross-

disciplinary inquiry, practitioners from fields as diverse as family therapy,

martial arts, systems science, and organizational behavior are working

together in teams to design new, more sophisticated approaches to change.

This monograph sketches one particular, integrative approach to

organization change. This integrative approach seeks to help organizations

continually reinvent themselves by helping the people in them develop and

Page 52: Organizational Climate at Bajaj Allianz Ltd

refine new sets of interlinked skills and capabilities, ones that will help them

become powerful players in the dynamics of change, minimizing the

likelihood that they or their organizations will be left in the dust.

The general, or contextual, model of organization changeThe general, or contextual, model of organization change is one featuring at least three streams of coordinatedis one featuring at least three streams of coordinated inquiry and design. These streams correspond with theinquiry and design. These streams correspond with the following categories of group activity:following categories of group activity:

1)1) StructuralStructural :: In which work structures, processes, and procedures are

examined, diagnosed, re-engineered, implemented, and evaluated.

2)2) Group tools and skill buildingGroup tools and skill building :: In which individuals in groups

develop enhanced skill in managing group processes. Includes

meeting facilitation, the use of group problem-solving and continuous

improvement skills, and development of skills for establishing

dialogue as a model of exploratory group communication.

3)3) CulturalCultural :: In which all the stakeholders examine the culture and

values they currently have, reinventing them, if necessary, to help the

people work together effectively in new and more effective ways.

Additionally, practices from fields such as family therapy,

mindfulness meditation, and the martial art of Aikido are offered for

enhancing individual leadership through increasing inner mastery.

Organizational ChangeOrganizational Change

Page 53: Organizational Climate at Bajaj Allianz Ltd

Organizational Change is the process by which organizations move from

their present state to some desired future state to increase their effectiveness.

Characteristically change is:-

Vital if accompany were to avoid stagnation;

A process and not an event;

Normal and constant;

Fast and is likely to increase further in the present competitive

business;

‘Directive’, that is, implemented by ‘top down’ management or

‘participative’, that is, involving those parties impacted by change;

Is ‘natural’, that is, evolutionary or ‘adaptive’, that is, a reaction to

external circumstances and pressures;

Is interdependent on organizational climate or culture.

Significant organizational change occurs, for example, when an organization

changes its overall strategy for success, adds or removes a major section or

practice, and/or wants to change the very nature by which it operates. It also

occurs when an organization evolves through various life cycles, just like

people must successfully evolve through life cycles. For organizations to

develop, they often must undergo significant change at various points in

their development. That's why the topic of organizational change and

development has become widespread in communications about business,

organizations, leadership and management.

Page 54: Organizational Climate at Bajaj Allianz Ltd

Leaders and

managers continually

make efforts to

accomplish

successful and

significant change --

it's inherent in their

jobs. Some are very

good at this effort

(probably more than

we realize), while

others continually

struggle and fail. That's often the difference between people who thrive in

their roles and those that get shuttled around from job to job, ultimately

settling into a role where they're frustrated and ineffective. There are many

schools with educational programs about organizations, business, leadership

and management. Unfortunately, there still are not enough schools with

programs about how to analyze organizations, identify critically important

priorities to address (such as systemic problems or exciting visions for

change) and then undertake successful and significant change to address

those priorities.

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A General Model for IntegratingA General Model for Integrating Cultural and Structural ChangeCultural and Structural Change

Page 56: Organizational Climate at Bajaj Allianz Ltd

Many individuals in successful organizations have developed skills in

refining both structural stream activities, and group process and meeting

management. Fewer appear to have developed skill in speaking and listening

in order to lead non-coercive cultural inquiry and design. Fewer still appear

to have established practices of mindfulness, grounded presence, and

connectedness with others which can lead to increased leadership through

inner mastery.

In order to support systemic change management by preparing people for its

complexities, the following organization of nested core competencies is

offered. This model suggests that some capabilities are more critical to an

individual’s ability to be effective in change initiatives. Interestingly, until

very recently, only the outermost layer of skills those of structural inquiry

and design has been considered necessary. However, due to the complexity

of integrating change in both structural and cultural streams, and due to the

stresses that arises out of our existing habits of conversation and our

physical reactions to surprises or ambiguity, the three inner layers have

begun to attract more attention by change theorists and practitioners.

Inner Mastery : The innermost circle denotes that set of practices and

skills by which individuals are able to maintain a grounded, focused, and

authentic presence in the midst of mounting chaos and stress. Individuals

with developed skill in Inner Mastery tend to appear to others as leaders

worthy of trust. Leaders with Inner Mastery skills can sense and maintain a

connection with others because they are more completely in touch with

themselves. In contrast, most of us are not at all at home in our bodies.

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We are not in touch with the physical sensations that may accompany our

being effective or ineffective. We do not have a sense of where our physical

center is, and our reactive thoughts and fears seem to drag us in every

direction, especially in stressful situations.

Approaches to helping individuals develop a more embodied presence

include forms of mindfulness meditation and martial arts training. Within

the field of martial arts, the art of Aikido stands out as a useful path because

of its focus on the dynamic connection among individuals, and because of its

emphasis on the harmonious resolution of conflict through collaborative

movement, not force. With increased mindfulness that comes with practice

we are able to notice more rapidly when we are drifting off of our center,

and are able to bring ourselves back to center more rapidly and gracefully.

The application of Aikido principles in workplace training is becoming

increasingly recognized as a potentially powerful, new form of

organizational learning. Recent books such as An Unused Intelligence and

Leadership Aikido explicitly prescribe Aikido based exercises for dealing

with difficult work and leadership issues. Non-strenuous exercises such as

these bring participants to the experience of merging with another’s energy

through physically moving in connection with the other as an alternative to

resisting or giving in. Within the past year the Dialogue Project and the

Society for Organizational Learning, both at MIT, have recognized the value

of through-the-body learning, based on Aikido principles, and are working

to integrate this mode of learning into their various approaches.

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Organization of CoreOrganization of Core Competencies for IndividualsCompetencies for Individuals

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Leading Systemic ChangeLeading Systemic Change InitiativesInitiatives

1)1) SKILLFUL SPEAKING AND LISTENINGSKILLFUL SPEAKING AND LISTENING :: The second inner-most

layer, that of leadership through skillful speaking and listening, includes

communication skills for enhanced inquiry, clearer action commitments,

and for dealing more effectively when breakdowns occur. Leaders with

these skills tend to make clearer requests, be more accountable for their

promises, and more likely to hold colleagues accountable for their

commitments in ways that lead to a minimum of defensiveness and

resentment.

As communication breakdowns occur, leaders with these communication

skills are more effective at driving conversation leading to effective

corrective action, rather than to defensiveness, resentment, and distrust.

Key among the approaches to enhancing effective communication so that

individuals can realize these capabilities is a blend of the speech act work

of Fernando Flores with the values-based action research of Chris

Argyris and Donald Schon. The latter approach is especially valuable

insofar as it establishes a pathway to personal growth that minimizes the

likelihood of coercive, manipulative coaching. A value, drawn from

Argyris and Schon, upon which this blend of approaches rests is that of

promoting free and informed consent of participants to methods,

coaching, and techniques they will encounter during training and daily

life at work.

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2)2) GROUP SKILLS FOR PROCESS MANAGEMENTGROUP SKILLS FOR PROCESS MANAGEMENT :: The third layer

from the center denotes skill in meeting facilitation and the use of tools

for making group processes leading to decisions and action more

effective and collaborative. These skills have become increasingly a part

of organizational training and practice over the past 15 years, and most

managers are familiar with their use.

3)3) STRUCTURAL AND ORGANIZATIONAL DESIGNSTRUCTURAL AND ORGANIZATIONAL DESIGN :: The fourth

layer denotes the category of reengineering tools, capabilities, and

practices that are most familiar to change agents. Those of organizational

and process diagnosis, design and implementation. Among these are

traditional TQM, Process Re-Engineering, Matrix Organization, and so

forth.

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Helping individuals to develop capabilities from within all four circles

appears to provide them with domains of expertise for driving effective

change that traditional structural-only models have lacked. The challenges in

designing effective, non-coercive training processes for the inner circles are

formidable. Yet the potential gains for effective change management appear

great enough to warrant the development of suitable new practices.

It is important to acknowledge that there is likely to be no single, general

model for organization change. These models are offered as conversation

starters, or checklists for developing strategies for driving effective change

in organizations by the people who will live and work in the organizations

either anticipating change or in the middle of it already.

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CHAPTER-5CHAPTER-5

ANALYSIS &ANALYSIS &

INTERPRETATION OFINTERPRETATION OF

THE STUDYTHE STUDY

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Analysis & Interpretation ofAnalysis & Interpretation of the Studythe Study

Study Interpretations are always carried out on the basis of analyzing and

interpreting the primary data

which has been gathered and

on the basis of the assessment

which is carried out, therein.

This chapter focuses upon

this very aspect and effort has

been made to conduct a

detailed analysis as under.

1. Analysis of question no.2:

Page 64: Organizational Climate at Bajaj Allianz Ltd

Designation /Management Level.

Top Level Management

Middle Level Management

Lower Level management

No. of Employees 9 27 34

Total no. of employees 70 70 70

Percentage 12.8% 38.6% 48.6%

The first area of analysis which concerns my study relate to the designation

criteria and obviously displays its relationship with the management level.

My responses in terms of respondents falling under the top management

amount 9(12.8%), middle level amounting to 27(38.6%) and bottom level

amounting to 34(48.6%). This means that the majority of my respondents

who were investigated for their opinion on organization climate changes fell

under the bottom level management and the minimum being under the

category of top management. This entire picture could be depicted through

the following bar diagram:-

Page 65: Organizational Climate at Bajaj Allianz Ltd

2. Analysis of question no.4:

Gender.

Male Female

No. of Employees 64 6

Total no. of employees 70 70

Percentage 91.4% 8.6%

In the fourth question, we have assessed about the no. of male and female

employees working in Bajaj Allianz General Insurance Ltd. The above

frequency table shows that the percentage of male employees, i.e. 91.4% is

10 times more than that of female employees which is only 8.6%. The above

configuration can be shown through following visual expression:-

3. Analysis of question no.5:

Page 66: Organizational Climate at Bajaj Allianz Ltd

Academic Profile.

Under-Graduate Graduate Post-Graduate

No. of Employees 4 34 32

Total no. of employees 70 70 70

Percentage 5.7% 48.6% 45.7%

In the fifth question, the analysis which concerns my study relates to the

educational level of the employees working in the organization. The above

frequency distribution table show that majority of the employees are

Graduates (48.6%) and Post- graduates (45.7%) and only 4 of them, i.e.

5.7% being under the category of Under-graduate. This entire picture could

be depicted through the following pie-chart:-

4. Analysis of question no.6:

Page 67: Organizational Climate at Bajaj Allianz Ltd

Financial profile/Pay-scale.

Up to Rs.15,000 per month

B/w Rs.15,000 &

Rs.30,000 per month

B/w Rs.30,000 &

Rs.45,000 per month

Above Rs.45,000 per month

No. of Employees 37 30 2 1

Total no. of employees

70 70 70 70

Percentage 52.8% 42.9% 2.9% 1.4%

In this question, I have assessed the pay-scale of the employees working in

the organization and the results reveal that most of the employees 37(52.8%)

are earning up to Rs.15,000 per month while 30(42.9%) are earning between

Rs.15,000 and Rs.30,000 per month. The remaining 4.3% has been

configured between pay-scales of Rs.30,000 and Rs.45,000 and Rs.45,000

and above. The above configuration can be shown through following visual

expression:-

5. Analysis of question no.7:

Page 68: Organizational Climate at Bajaj Allianz Ltd

Years of association with the Organization.

Last 2 Yrs B/w 2 & 4 Yrs

B/w 4 & 6 Yrs

More than 6 Yrs

No. of Employees 69 1 0 0

Total no. of employees

70 70 70 70

Percentage 98.6% 1.4% 0% 0%

This database shows the no. of years of association of the employees with

Bajaj Allianz Ltd. And this database represents the indirect implications of

the fact that how does and till what extent is it important to be attached with

an organization, as it has its own bearings. We just have only one respondent

falling under the category of being associated with the org. between 2 and 4

years, whereas the rest 69 respondents have been associated for only 2 yrs.

Since this org. was established in the year 2005 in Patna, there are no

employees who have been associated for more than 4 yrs. The above

configuration can be shown through following visual expression:-

6. Analysis of question no.8:

Page 69: Organizational Climate at Bajaj Allianz Ltd

Managerial Non-managerial

Advisory Concerned with Planning,

coordinating & monitoring

Supervisors

No. of Employees 18 13 5 28 6

Total no. of employees

70 70 70 70 70

Percentage 25.7% 18.6% 7.1% 40% 8.6%

Nature of Job.

In this question, we have assessed the kind of job responsibilities handled by

the employees. The above data shows that 8(25.7%) and 13(18.6%) of the

respondents are involved in managerial and non-managerial activities

respectively. The highest percentage of my respondents, i.e. 40% are

concerned with planning, coordinating and monitoring and the balance

15.7% has been segregated amongst the advisors and supervisory levels. The

nature of job handled by the employees occupy a very important position as

far as organizational climatic conditions are concerned and this very

interpretation could be shown in the form of the following bar diagram:-

7. Analysis of question no.10:

Coordination amongst team members.

Page 70: Organizational Climate at Bajaj Allianz Ltd

Excellent Very Good Good Satisfactory Not up to the mark

No. of Employees 8 51 10 1 0

Total no. of employees

70 70 70 70 70

Percentage 11.5% 72.7% 14.3% 1.5% 0%

This database shows that majority of the respondents (72.7%) are happy and

are satisfied with their coordination with other employees. 8 respondents

said that the coordination amongst team members are excellent. This can be

depicted by the following visual expressions:-

8. Analysis of question no.11:

Job- Satisfaction Level.

Page 71: Organizational Climate at Bajaj Allianz Ltd

Extremely Satisfying

Satisfying Not-satisfying Extremely Dissatisfying

No. of Employees 8 51 10 1

Total no. of employees

70 70 70 70

Percentage 11.5% 72.7% 14.3% 1.5%

In this question, we have assessed the job satisfaction level of the employees

arising out of the job which they are performing. My responses in terms of

respondents falling under extremely satisfying levels amounts 36 (51.4%)

and satisfying level amounting to 34 (48.6%). This data shows that all the

respondents are satisfied with their jobs. The above configuration could be

depicted through the following visual expression:-

9. Analysis of question no.14:

Rating the Organization.

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Better Good as others

Scope for further improvement

Inferior to others

No. of Employees 54 16 0 0

Total no. of employees

70 70 70 70

Percentage 77.1% 22.9% 0% 0%

In question no. 14, we have assessed that how the respondents feel and rate

this organization and we get mostly biased answers. As no one wants to

complain about the organization they are working in, 54 out of 70

respondents said their organization is better than other organizations and 16

said it is as good as others. This is a very expected response and therefore no

one complaint about it or said it is inferior to others. This could be very

clearly depicted by the following Pie-chart:-

Page 73: Organizational Climate at Bajaj Allianz Ltd

CHAPTER-6CHAPTER-6

FINDINGS OF THEFINDINGS OF THE

STUDYSTUDY

Findings of the StudyFindings of the Study

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The findings of the study generally relate to the major observations without

which my study is never complete. In this case, where my research work was

related to Organizational Climatic Conditions, the hypothesis has been taken

care of and the findings as given under would help in proving the same:

FINDINGS NO.1

The first major finding revolves around 98.6% of the respondents who have

been associated with this company for the last two yrs., although the fact

remains that this organization is about three years old in Patna. The

implication is that the total study has been governed in majority by these

98.6% who apparently are the best people to respond which regard to

Organizational Climatic Conditions. This is so because they are in the best

position to respond to the various questions and assessments which would be

taken care of in the other findings.

FINDINGS NO.2

The second major finding of mine pertains to assessing the kind of a job

which the respondents have been handling with regard to their association

which they have been holding with regard to the organization. The data

reflects that 18.6% of the respondents held a non-managerial profile where

the balance 81.4% of the respondents were conceived with managerial,

advisory, planning, coordination and monitoring of the Intra-Organizational

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activities are definitely the ones which have a very close relationship with

the Intra-Organizational Climatic Conditions.

FINDINGS NO.3

Inter-Personnel relationship level in the organization, motivation,

environment of the organization and working condition have a strong effect

on the company. The feeling of working in a Multi-national Company also

acts as a motivating factor and it also grows the feeling of satisfaction in the

employees and customers.

FINDINGS NO.4

The fourth finding is concerned with assessing the overall job satisfaction

level of my respondents. The data reflects that 51.4% of my respondents are

extremely satisfied with their job conditions within the organization, where

the balance 48.6% respondents are happy with their job but not fully

satisfied because of some conditions and reasons only known to them which

have not been clarified in the study. The implied analysis shows that51.4%

of the respondents who are extremely satisfied with their work performance

refers to the situation which probably has no link with the changing climatic

scenario in terms of the fact that, Intra-Organizational Climatic Conditions

had no impact what so ever as far as creating job satisfying effect is

concerned.

FINDINGS NO.5

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The fifth major finding is related to stress caused due to the job-profile of

the employees. The data reflects that the responses are in the ratio of 3:1.

75.7% of my respondents usually get stressed because of their job

responsibility. Most of the reasons of stress are due to the work environment

and pecuniary factors. The balance 24.3% respondents said that they are

quite comfortable with their job-profile and they do not generally feel

stressed out.

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CHAPTER-7CHAPTER-7

CONCLUSIONS &CONCLUSIONS &

RECOMMENDATIONSRECOMMENDATIONS

CONCLUSIONCONCLUSION

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While interviewing with different employees and customers of during my

Summer-Training Period, they gave me valuable suggestions to change

various things in Bajaj Allianz General Insurance Limited Company in order

to make it a more competent organization.

It is agreed that the employees in this organization are fully satisfied and

majority of them are happy working within the organization. Sometimes the

work load make them stressed but the infrastructure facilities are well

enough to help them out with their stress and working conditions.

It is through analysis of the details available and feedback of the employees

that one comes to the conclusion that there are certain factors like inter-

personnel relationships, working conditions, technological changes, policy

changes and other changes from outside the organization which leads to

change in the organization’s climatic conditions.

RECOMMENDATIONSRECOMMENDATIONS

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Level of interaction between the

manager and the employees should

be brought at a better level.

Management should get more

concerned about the infrastructure

facilities and profit-making of the

organization.

Proper attention should be given to the problems of its customers

regarding claims and policies.

Proper facilities at the workplace where there is not working condition

such as congested place to work, not proper silence at the working place.

Thus, facilities such as more ventilation should be provided.

BIBLIOGRAPHYBIBLIOGRAPHY

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The list reference for the purpose of completing this summer training project

report is as given below:

S.NO. TITLE OF THE REFERENCE MATERIAL

AUTHOR AND OTHER DETAIL

1 Bajaj Allianz General Insurance Limited- Annual Report

Bajaj Allianz

2 Induction Booklet of Bajaj Allianz General Insurance

Bajaj Allianz

3 www.bajajallianz.com -

4 www.google.com -

5 www.allbusiness.com -

6 www.vininvestments.com -

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ANNEXUREANNEXURE

QUESTIONNAIRE1. Name of the respondent: …………………………………………

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2. Designation: ………………………………………....

3. Age: ……..........yrs.

4. Gender: Male Female

5. Academic Profile:

a) Under-Graduate

b) Graduate

c) Post-Graduate

6. Financial Profile:

a) Earning up to Rs. 15,000 per month

b) Earning between Rs. 15,000 and Rs. 30,000 per month

c) Earning between Rs. 30,000 and Rs. 45,000 per month

d) Earning above Rs. 45,000 per month

7. Since how long have you been working in this organization?

a) For the last two years

b) Between two & four years

c) Between four & six years

d) More than six years

8. What kind of a job responsibility are you handling?

a) Managerial

b) Non-managerial

c) Advisory

d) Concerned with planning, coordinating

& monitoring

e) Supervisory

9. How do you find the behavior of your team members within the

working environment?

a) Superiors

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b) Peers

c) Subordinates

Excellent Very Good Good Satisfactory Not up to the mark

10. How do you rate the coordination amongst the team members within

the organization?

a) Excellent

b) Very Good

c) Good

d) Satisfactory

e) Not up to the mark

11. How do you find your job satisfaction level arising out of the job

which you are performing?

a) Extremely Satisfying

b) Satisfying

c) Not Satisfying

d) Extremely Dissatisfying

12. Do you normally get stressed because of your job-stress?

Yes

No

If yes, what are the causes of your job-stress?

a) Work environment

b) Colleagues

c) Pressure from superiors

d) Working ambience

e) Pecuniary factors

f) Fringe benefits

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13. How do you tend to manage stress?

Please specify …………………………………………………………

………………………………………………………………………………

………………………………………………………………………………

14. How do you rate your association with this company in comparison

to that of your colleagues/friends working with other similar

organizations?

a) My organization is better.

b) My organization is as good as others.

c) My organization has scope for further improvement.

d) My organization is inferior to others.

15. Where do you see yourself in terms of carrier growth in this

organization?

a) I have a bright future.

b) Chances of growth are minimum.

c) Chances of growth are bleak.

d) I see no future for myself.

16. On the whole, how do you rate Bajaj Allianz Ltd. As an organization

to work in?

a) This organization gives ample opportunities to youngsters/new-comers.

b) It is a good platform to learn work.

c) It is an organization which trains us to face challenges.

d) It is an organization where working is fun.

e) It is an organization where working is boredom.

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17.If asked to recommended, would you recommend this organization to

others?

Yes

No

If no, why? ………………………………………………………………..…

………………………………………………………………………………..

Place-…………………………..

Date-…………………………...

________________________

(Respondent’s Signature)