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Networth Soft Tech Ltd. It combines a unique delivery model infused by a distinct culture of customer satisfaction. Ravisha Financial Services Pvt. Through the study one would understand how common man could fruitfully convert.
The primary study of the project is to bring out major difference between equity funds in different Asset Management Companies. To analyze make right investment decision for maximization of returns and minimization of risk. Fund achieving the profit in the growth oriented securities in the portfolio.
If company will go through the high research in each every security automatically comes profit. If we select exact growth oriented securities in the market, it gives good returns. The fund will select futuristic companies and invest proper way, you will get Good returns.
To invest in well diversified portfolio stocks for good returns in long term. It is an important for an investor to understand his financial goals and horizon of investment in order to make an informed investment decisions over a long-term mutual funds or expected to provide attractive returns and they also provide tax benefits as per existing tax laws. But now, the trend is changing. Human Resource Management is a management function that helps an organization select, recruit, train and develops.
Scope of HRM without a doubt is vast. All the activities of employee, from the time of his entry into an organization until he leaves, come under the horizon of HRM. Out of all these divisions, one such important division is training and development. It ensures that randomness is reduced and learning or behavioral change takes place in structured format.
They were holding the traditional view that managers are born and not made. There were also some views that training is a very costly affair and not worth.
Organizations used to believe more in executive pinching. But now the scenario seems to be changing. The Modern approach of training and development is that Indian Organizations have realized the importance of corporate training. Training is now considered as more of retention tool than a cost. The training system in Indian Industry has been changed to create a smarter workforce and yield the best results TRAINING DEFINED It is a learning process that involves the acquisition of knowledge, sharpening of skills, concepts, rules, or changing of attitudes and behaviours to enhance the performance of employees.
Training is activity leading to skilled behavior. Training is about the acquisition of knowledge, skills, and abilities KSA through professional development. It also helps the employees in attaining personal growth.
It helps to expand the horizons of human intellect and an overall personality of the employees. It helps in inculcating the zeal to learn within the employees. It helps in creating the learning culture within the organization.
The employees get these feelings from leaders, subordinates, and peers. It helps to build good employee, relationship so that individual goals aligns with organizational goal. Organization gets more effective decision making and problem solving.
In addition to that, there are four other objectives: Individual, Organizational, Functional, and Societal. Individual Objectives — help employees in achieving their personal goals, which in turn, enhances the individual contribution to an organization.
Organizational Objectives — assist the organization with its primary objective by bringing individual effectiveness. Societal Objectives — ensure that an organization is ethically and socially responsible to the needs and challenges of the society. While some people think of training objective as a waste of valuable time.
The counterargument here is that resources are always limited and the training objectives actually lead the design of training. It provides the clear guidelines and develops the training program in less time because objectives focus specifically on needs. It helps in adhering to a plan. Training objectives tell the trainee that what is expected out of him at the end of the training program. Training objectives are of great significance from a number of stakeholder perspectives: 1.
Trainer 2. Trainee 3. Designer 4. Evaluator Trainer — The training objective is also beneficial to trainer because it helps the trainer to measure the progress of trainees and make the required adjustments. Also, trainer comes in a position to establish a relationship between objectives and particular segments of training. Trainee — The training objective is beneficial to the trainee because it helps in reducing the anxiety of the trainee up to some extent.
Not knowing anything or going to a place which is unknown creates anxiety that can negatively affect learning.
Therefore, it is important to keep the participants aware of the happenings, rather than keeping it surprise. Secondly, it helps in increase in concentration, which is the crucial factor to make the training successful.
Thirdly, if the goal is set to be challenging and motivating, then the likelihood of achieving those goals is much higher than the situation in which no goal is set.
Therefore, training objectives helps in increasing the probability that the participants will be successful in training. The training designer would then look for the training methods, training equipments, and training content accordingly to achieve those objectives. Furthermore, planning always helps in dealing effectively in an unexpected situation.
Consider an example; the objective of one training program is to deal effectively with customers to increase the sales. Since the objective is known, the designer will design a training program that will include ways to improve the interpersonal skills, such as verbal and non verbal language, dealing in unexpected situation i. Therefore, without any guidance, the training may not be designed appropriately.
Evaluator — It becomes easy for the training evaluator to measure the progress of the trainees because the objectives define the expected performance of trainees.
Training objective is an important to tool to judge the performance of participants. An organization is a system and training is a sub system of the organization. The System Approach views training as a sub system of an organization.
System Approach can be used to examine broad issues like objectives, functions, and aim. It establishes a logical relationship between the sequential stages in the process of training need analysis TNA , formulating, delivering, and evaluating. There are 4 necessary inputs i.
And every system must have some output from these inputs in order to survive. A system approach to training is planned creation of training program.
This approach uses step-by-step procedures to solve the problems. Under systematic approach, training is undertaken on planned basis. Out of this planned effort, one such basic model of five steps is system model that is explained below. Organization are working in open environment i.
The internal forces are the various demands of the organization for a better learning environment; need to be up to date with the latest technologies. Training is a transforming process that requires some input and in turn it produces output in the form of knowledge, skills, and attitudes KSAs. The three model of training are: 1. System Model 2. Instructional System Development Model 3. Transitional model System Model Training The system model consists of five phases and should be repeated on a regular basis to make further improvements.
The training should achieve the purpose of helping employee to perform their work to required standards. The steps involved in System Model of training are as follows: 1. Analyze and identify the training needs i. Design and provide training to meet identified needs. This step requires developing objectives of training, identifying the learning steps, sequencing and structuring the contents. Implementing is the hardest part of the system because one wrong step can lead to the failure of whole training program.
Evaluating each phase so as to make sure it has achieved its aim in terms of subsequent work performance. Making necessary amendments to any of the previous stage in order to remedy or improve failure practices. Instructional System Development Model Instructional System Development model was made to answer the training problems. This model is widely used now-a-days in the organization because it is concerned with the training need on the job performance.
Training objectives are defined on the basis of job responsibilities and job description and on the basis of the defined objectives individual progress is measured. This model also helps in determining and developing the favorable strategies, sequencing the content, and delivering media for the types of training objectives to be achieved. The Instructional System Development model comprises of five stages: 1. PLANNING — This phase consist of setting goal of the learning outcome, instructional objectives that measures behavior of a participant after the training, types of training material, media selection, methods of evaluating the trainee, trainer and the training program, strategies to impart knowledge i.
It consists of developing course material for the trainer including handouts, workbooks, visual aids, demonstration props, etc, course material for the trainee including handouts of summary. EXECUTION — This phase focuses on logistical arrangements, such as arranging speakers, equipments, benches, podium, food facilities, cooling, lighting, parking, and other training accessories.
This phase consists of identifying strengths and weaknesses and making necessary amendments to any of the previous stage in order to remedy or improve failure practices.
The ISD model is a continuous process that lasts throughout the training program. It also highlights that feedback is an important phase throughout the entire training program. In this model, the output of one phase is an input to the next phase.
Transitional Model Transitional model focuses on the organization as a whole. The outer loop describes the vision, mission and values of the organization on the basis of which training model i. Vision — focuses on the milestones that the organization would like to achieve after the defined point of time.
A vision statement tells that where the organization sees itself few years down the line. A vision may include setting a role mode, or bringing some internal transformation, or may be promising to meet some other deadlines.
Mission — explain the reason of organizational existence.
It identifies the position in the community. The reason of developing a mission statement is to motivate, inspire, and inform the employees regarding the organization. The mission statement tells about the identity that how the organization would like to be viewed by the customers, employees, and all other stakeholders.
Values — is the translation of vision and mission into communicable ideals. It reflects the deeply held values of the organization and is independent of current industry environment. For example, values may include social responsibility, excellent customer service, etc. The mission, vision, and values precede the objective in the inner loop.
This model considers the organization as a whole. The objective is formulated keeping these three things in mind and then the training model is further implemented. Trainers need to understand the pros and cons of each method, also its impact on trainees keeping their background and skills in mind before giving training. Cognitive methods are more of giving theoretical training to the trainees.
The various methods under Cognitive approach provide the rules for how to do something, written or verbal information, demonstrate relationships among concepts, etc. These methods are associated with changes in knowledge and attitude by stimulating learning.
The various methods under Behavioral approach allow the trainee to behavior in a real fashion. These methods are best used for skill development.
To become a better performer by education implies that management development activities attempt to instill sound reasoning processes. This method of training uses more knowledgeable, experienced and skilled employees, such as mangers, supervisors to give training to less knowledgeable, skilled, and experienced employees.
OJT can be delivered in classrooms as well. This type of training often takes place at the work place in informal manner. These programs are carried out by identifying the employees who are having superior technical knowledge and can effectively use one-to-one interaction technique.
The procedure of formal on-the-job training program is: 1. The participant observes a more experienced, knowledgeable, and skilled trainer employee 2.
The method, process, and techniques are well discussed before, during and after trainer has explained about performing the tasks 3. When the trainee is prepared, the trainee starts performing on the work place 4. The trainer provides continuing direction of work and feedback 5. According to a survey conducted by International Coach Federation ICF , more than 4, companies are using coach for their executives.
These coaches are experts most of the time outside consultants. The needs can be identified through 60 degree performance reviews. Procedure of the Coaching The procedure of the coaching is mutually determined by the executive and coach. Meet the participant and mutually agree on the objective that has to be achieved 3. Mutually arrive at a plan and schedule 4. At the job, show the participant how to achieve the objectives, observe the performance and then provide feedback 5.
Repeat step 4 until performance improves For the people at middle-level management, coaching is more likely done by the supervisor; however experts from outside the organization are at times used for up-and- coming managers.
Again, the personalized approach assists the manger focus on definite needs and improvement. Mentoring Mentoring is an ongoing relationship that is developed between a senior and junior employee. Mentoring provides guidance and clear understanding of how the organization goes to achieve its vision and mission to the junior employee. The meetings are not as structured and regular than in coaching. Executive mentoring is generally done by someone inside the company.
The executive can learn a lot from mentoring.
Executives also have mentors. In cases where the executive is new to the organization, a senior executive could be assigned as a mentor to assist the new executive settled into his role.
Mentoring is one of the important methods for preparing them to be future executives. Once the mentor identifies the problem, weakness, and the area that needs to be worked upon, the mentor can advise relevant training.
The mentor can also provide opportunities to work on special processes and projects that require use of proficiency. The executive is usually not simply going to another department. In some vertically integrated organizations, for example, where the supplier is actually part of same organization or subsidiary, job rotation might be to the supplier to see how the business operates from the supplier point of view. Or the rotation might be to a foreign office to provide a global perspective.
For managers being developed for executive roles, rotation to different functions in the company is regular carried out. This approach allows the manger to operate in diverse roles and understand the different issues that crop up.
If someone is to be a corporate leader, they must have this type of training. An organized and helpful way to develop talent for the management or executive level of the organization is job rotation. It is the process of preparing employees at a lower level to replace someone at the next higher level.
It is generally done for the designations that are crucial for the effective and efficient functioning of the organization. A trainer who is aware of the work well is likely to do many things and in the process might miss few things.
Therefore, a structured analysis and proper documentation ensures that all the points are covered in the training program. The second step is to find out what the trainee knows and what training should focus on. When the trainer finished, the trainee demonstrates how to do the job and why is that done in that specific manner.
Trainee actually demonstrates the procedure while emphasizing the key points and safety instructions. In this step, the focus is on improving the method of instruction because a trainer considers that any error if occurring may be a function of training not the trainee. This step allows the trainee to see the after effects of using an incorrect method. The trainer then helps the trainee by questioning and guiding to identify the correct procedure.
It is ability of an individual to sense what others feel and think from their own point of view. This can be done when the trainee faces dilemma in which his old values is not able to provide proper guidance. The reasoning of the feedbacks are discussed which motivates trainees to experiment with range of new behaviors and values. This process constitutes the second step in the change process of the development of these values.
Transactional Analysis Transactional Analysis provides trainees with a realistic and useful method for analyzing and understanding the behavior of others. In every social interaction, there is a motivation provided by one person and a reaction to that motivation given by another person.
This motivation-reaction relationship between two persons is a transaction. Transactional analysis can be done by the ego states of an individual. An ego state is a system of feelings accompanied by a related set of behaviors.
There are basically three ego states: Child: It is a collection of recordings in the brain of an individual of behaviors, attitudes, and impulses which come to her naturally from her own understanding as a child. The characteristics of this ego are to be spontaneous, intense, unconfident, reliant, probing, anxious, etc. Parent: It is a collection of recordings in the brain of an individual of behaviors, attitudes, and impulses imposed on her in her childhood from various sources such as, social, parents, friends, etc.
The characteristics of this ego are to be overprotective, isolated, rigid, bossy, etc. Verbal clues that a person is operating from its parent states are the use of words like, always, should, never, etc and non-verbal clues such as, raising eyebrows, pointing an accusing finger at somebody, etc. Adult: It is a collection of reality testing, rational behavior, decision-making, etc. A person in this ego state verifies, updates the data which she has received from the other two states.
It is a shift from the taught and felt concepts to tested concepts. All of us evoke behavior from one ego state which is responded to by the other person from any of these three states. Lectures It is one of the oldest methods of training. This method is used to create understanding of a topic or to influence behavior, attitudes through lecture.
A lecture can be in printed or oral form.