By Saroj Kumar Behera st
MBA 1 yr Regd no: 1006286054 (Under the guidance of) Ms.Bidya Dash Faculty of (HR) SRUSTI ACADEMY OF MANAGEMENT BHUBANESWAR
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SR. NO.
TOPIC
PAGE NO.
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Declaration and acknowledgement
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Internal guide Certificate
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Objective of study
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4
Brief understanding about the topic
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Company profile and suggestions
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Observation and suggestions
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Conclusion
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Sources of collecting information
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12-13
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I, /Saroj Kumar Behera,MBA student of “Srusti Academy of Management” of Bhubaneswar. Hereby declare that I have completed successfully the mini project on organization structure of Axis Bank.
I also declare that this project is a genuine work carried out by me and all the information submitted is true and original to the best of my knowledge and belief.
Signature: Internal Guider:
Signature: Saroj Kumar Behera
Date: 3
Having completed this project, my heart is filled with joy and utmost satisfaction. But the whole exercise would be incompleted if I fail to acknowledge the help rendered by each individual of this organization in completing my project study within the stipulated time frame. f rame.
First I express my deepest sense of gratitude to my internal guider MS. BIDYA DASH, faculty member of SAM, Bhubaneswar for her guidance and encouragement during the course of my study and preparation of this project report. I am grateful to my subjects who cooperated me and allowed to carry out the project work in the field and for providing necessary information during the course of study.
Last but not least, I am deeply indebted to GOD and my parents for their constant blessings.
SAROJ KUMAR BEHERA 4
1.1 OBJECTIVE OF THE STUDY
My objective of the study is to briefly know about what type of organization structure are following by the Axis Bank and how it is suitable for achieving their goals. And to find out what are the procedures for designing of a structure, what are the steps are essentials for an organization structure. For that I have asked several questions to the Assistant manager of axis Bank, satya nagar branch, Bhubaneswar.
The questions are asked by me
1. 2. 3. 4. 5. 6. 7.
Which type of organization structure they are following? Diagrammatically explain the structure of axis bank? Is that effective one for achievement of their goals, if yes how? How they maintain coordinate among their staff members? How much their annual turnover? Why they changed their name from UTI to AXIS? Who are the competitors?
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1.2 BRIEF UNDESTANDING ABOUT THE ORGANIZATION STRUCTURE
Organization is the structural framework of duties and responsibilities required of personnel in performing various functions with a view to achieve business goals through organization. Management tries to combine various business activities to accomplish predetermined goals. Business activities are divided into various functions; these functions are assigned to different individuals. Various individuals efforts must lead to the achievement of common business goals.
Present business system is very complex. The unit must be run efficiently to stay in the competitive world of business. Various jobs are to be performed by persons most suitable for them. First of all various activities should be grouped into different functions. The authority and responsibility is fixed at various levels. All efforts should be made to coordinate different activities for running the units efficiently so that cost of production may be reduced and profitability of the unit may be increased. While developing an organization structure, the two variables are required i.e.
Basic structure and
Operating mechanism 6
The basic structure involves issues such how the work of the organization is to be divided and assigned among positions, groups, departments, divisions, etc. and how to bring the required coordination for achieving organizational goals. The operating mechanism includes factors like information system, control procedures and application of principles and practices. The most important thing is establishment of systematic relationship among various activities and persons is the framework of organization structure. There may be problems and difficulties if the structure is faulty. The structure should be suitable to the working of the organization and be helpful in achieving business goals. The organization structure provides a framework which holds the various functions together in accordance with the pattern determined by managers. A planned structure outlines the required functions, correlates the functions in a systematic manner and assigns authority and responsibility. These are assigned to carry out various activities. These activities are to be specified, classified and grouped. Proper care to be taken to determine a structure which will suit the business needs.
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1.3COMPANY PROFILE Axis Bank was the first of the new private banks to have begun
operations in 1994, after the Government of India allowed new private banks to be established. The Bank was promoted pr omoted jointly by the Administrator of the specified undertaking of the Unit Trust of India (UTI - I), Life Insurance Corporation of India (LIC) and General Insurance Corporation of India (GIC) and other four PSU insurance companies, i.e. National Insurance Company Ltd., The New India Assurance Company Ltd., The Oriental Insurance Company Ltd. and United India Insurance Company Ltd. The Bank today is capitalized to the extent of Rs. 359.76 crores with the public holding (other than promoters) at 57.79%.The Bank's Registered Office is at Ahmadabad and its Central Office is located at Mumbai. The Bank has a network of over 3723 ATMs (as on 30th June 2009) providing 24 hrs a day banking convenience to its customers. This is one of the largest ATM networks in the country. The Bank has strengths in both retail and corporate banking and is committed to adopting the best industry practices internationally in order to achieve excellence. Commercial banking services which include merchant banking, direct finance infrastructure finance, venture capital fund, advisory, trusteeship, forex, treasury and other related financial services. As on 31-Mar2009, the Group has 853 branches, extension counters and 3,595 automated teller machines (ATMs). The bank had a net profit of Rs.1815.36 cr as on 31.mar.2010
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BOARD OF DIRECTORS
The members of the Board are:
Dr. Adarsh Kishore
Chairman
Smt. Shikha Sharma
Managing Director & CEO
Shri S. K. Chakrabarti
Deputy Managing Director
Shri J.R. Varma
Director
Dr. R.H. Patil
Director
Smt. Rama Bijapurkar
Director
Shri R.B.L. Vaish
Director
Shri M.V. Subbiah
Director
Shri K. N. Prithviraj
Director
Shri V. R. Kaundinya
Director
Shri S. B. Mathur
Director
Shri S. K. Roongta
Director
Shri Prasad R. Menon
Director
Shri R. N. Bhattacharyya
Director
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1.4 PRODUCT OF AXIS BANK:
Easy Access Saving Account
Saving Account for Women
Prime Saving Account
Senior Citizens Saving Account
Priority Banking
Corporate Salary Account
Trust /NGOs Saving Account
Resident Foreign Currency Account
Online Trading Account
Current Account
Term Deposits
Locker Facilities
NRI Services
Depository Services
Financial Advisory Services
Wealth Management Services
Insurance Solutions – Solutions – Life Life and General
Retail Loans
Credit Loans
Travel Currency Cards
Remittance Cards
Gift Cards
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1.5 ORGANIZATION STRUCTURE OF AXIS BANK:
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All the persons of Axis Bank are dealing with a particular function are put under the charge of a person controlling that particular function. The person incharge of a function is a specialist in it and brings out the best in himself. In case a person performs a number of functions then he will be accountable to all those persons who are incharge of those areas, like from the above organization structure it specify the roles and responsibilities of different persons. Like ZONAL HEAD
When several activities of the bank are geographically dispersed in different locations, territorial or geographical branch under zonal head or zonal manager. AREA SALES MANAGER Firstly role of area sales manager in a bank to achieve the target set by the bank. And implementing the company strategy across all the territory, motivating, monitoring, supervising, coaching the subordinate and right feedback to the organization. TEAM LEADER
Serve as the team’s representative on leadership groups requiring Team Leader participation Act as primary contact person for the team Coordinate and submit team reports, such as annual reports and team plan, and other necessary documentation required from the team Serve ex-officio on search committees for vacant team positions Participate on peer review committees for all team members and coordinate merit review process for team members Participate as a member of the team with instruction, reference, and collection management responsibilities Foster team and individual growth through coaching, mentoring, and serve as a resource person and by encouraging collaboration among team members Articulate and promote the team’s team’s work 12
SALES EXECUTIVE Responsibilities of sales executives can vary from company to company, depending upon the nature of the business. However, the general responsibilities of sales executives include responsibility to make contacts with the potential customers via emails or telephones or in person. A sales executive keeps the track of activities in customer relation management system. She/he should know all applications and features of products or services offered by her/his company.
1.6 OBSERVATION
Although the bank having a brand name but they don’t have a good image. Various promoters are support Axis Bank but still their market capitalization is very low. Growing Indian banking sectors are creating more challenges for them to survive their position. I also observe that only 853 branches are present in India and in Bhubaneswar there are only 5 numbers of branches are there. But there employees are very cooperative, and sincere to their works definitely it will helps the bank a lot to more develop in near future.
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1.7 COMPETITIORS:
1.
ICICI Bank Ltd.
2.
HDFC Bank Ltd.
3.
State Bank of India
4.
HSBC Bank
5.
RBS (Royal Bank of Scotland)
6.
Maharashtra Bank of India
7.
Canara Bank
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Andhra Bank
9.
IDBI bank
10. Bank of India 11. Punjab National Bank 12. Central Bank 13. Allahabad Bank 14. ING Vysya 15. Centurion Bank
1.8 SUGGESTIONS: 1. Number of Branches Branches should be increased covering a wider area in in various states. 2.
A wide publicity to be given about the organization and its
products through various means of communications to keep growth moments. 3.
More number of training and educational programmes should be
included in Banks schedule. 4. Developing a learning culture through continuous learning process. 14
1.9 CONCLUSION: Axis bank has developed manifold in short period of time due to facilities and services provided to their customer and this growth rate can be keep it up if they start to go in semi-urban areas. In last couple of years they have opened new many branches and they should open many more. The working staff are very co-operative in nature and due to that the bank will also get good benefit. Axis Bank has provided their customer Net-banking facilities and due to that transactions are done fast. Charges at Axis Bank are on lower side when we compare it with other Banks.
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2.0 SOURCES WHERE I COLLECT THE INFORMATION
SR NO. 1 2 3
REFERENCE Main branch of Axis Bank, satya nagar, Bhubaneswar. Recommended books related to organization structure Internet
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