INDIAN INSTITUTE OF PLANNING &

MANAGEMENT

PROJECT REPORT ON

SALES MANGEMENT
IN

GROUP A-20

VENKATA RSP
KARTHIK.N

NITIN HIMATSINGKA

N. VIHARI

K.PRASHANTH

1
 C.ROHITH KUMAR

PERFACE
This project report has been prepared by the
students of IIPM, Hyderabad with their sincere and strenuous
efforts. The project report deals with the concepts of “Sales
Management”

Though it is a vast subject in itself, the

encouragement and assistance from the concerned faculty and
other friends ensured in the speedy and quality work of the
project.

At every stage of accomplishing the project, we

have learnt consistently the various aspects of methodologies
and strategies to be applied to fulfil the requirements of the
respective study in the project.

2
 ACKNOWLEDGEMENT
We would like to express our gratitude to Shirani
Nayar faculty IIPM Hyderabad for this constant
guidance and constructive suggestions right from the
conception of the idea to successful completion of this
project.

We would also like to extend our gratitude to the

faculty of IIPM for giving us this opportunity to work on
this project which has been a both an excellent and
rewarding experience.

We would also like to extend our gratitude to

Mr.RAVINDRA (centre manager), Reliance Money, and
Hyderabad for his kind help and support during project
research.

Similarly, we acknowledge with gratitude the support

and encouragement of our friends and colleagues.
3
 C. Rohith
Kumar
N. Karthik
Nitin Himatsingka
N. Vihari
K. Prashanth

UNDERTAKING
We hereby declare that all the
information that has been collected by us, for the
project is entirely authentic. We would also mention
that, the information that has been collected is not
from any unfair means. The data and information
presented in the report is accurate and updated to the
best of our knowledge. However, in an attempt to
make this project our best effort, we have collected
information from various secondary sources.

Group A-20
N.KARTHIK
C. ROHITH KUMAR

4
 NITIN
HIMATSINGKA
K.PRASHANTH
N.VIHARI

Certificate
Certified that the project work done on “Sales
Management at Reliance Money” is the bonafide work
carried out by Karthik, Nitin Himatsingka, Vihari,
Prashanth and Rohith kumar in partial fulfilment for the
award of Master of Business Administration(MBA) in
The Indian Institute Of Planning and Management
(IPM), Hydearbad during the year 2008-2010.

The project work has been approved as it is satisfied

the academic requirement in respect of project work

5
prescribed for the Master Of Business Administration
(MBA).

Signature of the Dean Signature of

the Faculty

CONTENTS
CHAPTER PAG
NAME E#

About the company 7

Introduction to the topic 8

Aim of the study 9

Theoretical overview 15

Products of the company 17

6
 Sales management process 20

Sales force automation 22

Methodology 41

Observations 42

Conclusion 43

Bibliography 44

About the Reliance Money

Reliance Money is promoted by Reliance Capital; one of India's leading and fastest growing

private sector financial services companies, ranking among the top 3 private sector financial

services and banking companies, in terms of net worth. Reliance Capital is a part of the

Reliance Anil Dhirubhai Ambani Group.

7
Thus, Reliance Money provides a comprehensive platform, offering an investment avenue

for a wide range of asset classes. Its endeavour is to change the way India transacts in

financial market and avails financial services. Reliance Money offers a single window

facility, enabling you to access amongst others, Equities, Equity and Commodity derivatives,

Offshore Investments, IPO’s, Mutual Funds, Life Insurance and General Insurance

products.

Advantages offered by Reliance money over other companies:

○ Cost Effective

○ Convenience

○ Security

○ Single Window for Multiple Products

○ 3 in 1 Integrated Access

○ Demat Account with Reliance Capital

○ Other Services like research, live news from Reuter and Dow Jones, etc.

Introduction to the Sales

Management

8
Meaning of sales management
Sales Management, however, is concerned with the process of encouraging customers to

exchange their funds for your services or goods. By contrast, marketing might concern itself

with expanding opportunities for installing more processes in more places and expanding or

creating new sales channels.

The American Marketing Association’s definition makes sales management essentially

synonymous with management of sales force, but modern sales managers continue to have

considerably broader responsibilities. Sales managers are in charge of personal-selling

activity, and their primary assignment is management of the personal sales force.

Today’s sales managers are responsible for organizing the sales effort. Both within and

outside their companies. Within the company, the sales managers build formal and informal

organization structures that ensure effective communication not only inside the sales

department but also in its relations with organizational units. Outside the company, the sales

managers serve as one of the company’s most important contact points with customers and

other external publics. Also, the outside company the sales manager is responsible for

building and maintaining an appropriate and effective distribution network.

9
The modern sales manager is both an administrator in charge of personal- selling activity and

a member of the executive group that makes the marketing decisions of all types.

Objectives:

1. Qualitative

2. Quantitative

1. Quantitative (short term)

a. To retain and capture the market share

b. To determine the sales volume in ways that contributes to profitability.\

c. To obtain new accounts for given types

d. To keep personal expenses with in specified limits.

1. Qualitative (long term)

a. To do entire selling job

b. To search and maintain customer co-operation

c. To provide technical advice wherever necessary

d. To assist in training of middlemen’s sales personnel

e. To collect and report market information of interest and use to the company

management.

10
From the company point of view, there are three general and underlying objectives of sales

management:

1. Achieving sufficient sales volume

2. Providing ample contribution to the profits

3. Experiencing the continuing growth

For both planning and operating purposes, sales management is well advised to keep in mind

two basic accounting formulae:

1. Gross margin= actual sales – cost of sales

2. Net profit= gross margin- expenses

11
 Objectives of the study
1. Analyse and assess the sales management challenges at Reliance

Money

Internal changes: Process and systems

Performance enhancement

Strategy implementation challenges

External challenges: Competition

Customer

Environment

2. To study the effects of the sales management challenges on the

company’s performance.

3. To frame the suggestions and recommendations for overcoming the

above challenges.

12
 Aim of the study
Our aim was to study the sales management process of Reliance Money, Hyderabad and also

to know the various products of Reliance Money. We have also studied the different

approaches to generate leads and close them. Our organization was very helpful and kind in

providing all the required details and made us understand how sales takes place in their

organization.

13
 Executive Summary
The project work is pursued as a part of MBA curriculum at INDIAN INSTITUTE OF

PLANNING AND MANAGEMENT, HYDERABAD. It is undertaken as a traineeship at

Reliance Money Ltd. The project is done under expert supervision and guidance of and Mr.

Ravaindra (centre manager, Reliance Money)

The Project is about the study of marketing and sales of financial products and also the

efforts done to make improvements in the customer acquisition process for better results.

At RELIANCE MONEY, initially the trainees were imparted process and product

knowledge. They were given sufficient time to know about the products and also about sales

and distribution channel. They had to work with the sales representatives of the Distributor

and think of ways of improving the sales and distribution channel and implementing them.

The main aim was to increase sales and for this different ways were tried and implemented.

They were provided with database and had to make cold calls from the data. Company

activity was also one of the major sources for generating business. Initially they even

accompanied sales representatives to the clients place. Main objective was to know the need

of the customer and how to fulfill that in the best way.

The project dealt with various fields like:

1. Trading and Demat account

2. Mutual funds

3. Life insurance

4. General insurance

Our task was divided in 4 phases:

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➢ Product knowledge:

This included the theoretical knowledge about the field and products which needed to
be marketed.

➢ Pitching in retail sector:

This included the implementation of the knowledge imparted to us and the test of our
marketing skills. Initially we were accompanied by other sales executive so that we
can learn how to deal with the customers and understand their need. This also
enhanced our interpersonal skills and confidence level.

➢ Implementation in retail sector and pitching in corporate:

By the start of this phase we were confident enough about the pitching and fulfilling
the needs of the customer in the retail sector. This also included of the ways we
should pitch the corporate.

➢ Implementation at corporate levels:

This included the implementation of the all the knowledge and ways learnt for the
pitching and extracting business out of the corporate. With the end of 8 weeks every
phase was completed and it gave us the real experience of retail as well as corporate
world.

15
 Theoretical overview
Role of Sales Management in Marketing:

Sales management is generally acknowledged to be the backbone of marketing. Nit is

defined as “The overall management of sales and it refers to only a specialized application of

the process of management as a whole”. The ultimate goal of sales management is to

influence the consumers of the target market to get the sales orders.

Sales management is influencing in charting the course of future operations. It provides the

higher management with the informed estimates and facts needed for making critical

marketing decisions and for setting realistic sales and profit goals. Largely on the basis of

sales management’s appraisal of marketing opportunities, targets are set for sales volume,

gross margin, and net profit in units of the products and in dollars with benchmarks of

growth projected for sales and profits at specific future dates.

Marketing stresses the importance of satisfying the consumer needs and wants through a

process of exchange. Marketing occurs virtually in every aspect of life, and marketing and

selling is directly related to each other.

Today, a new philosophy concerning the relationship between marketing and sales is

emerging, with both functions being carried by the same person.

1. They work in teams

2. Computer is the primary sales tool

3. They do not sell to the consumer, rather they partner with them

4. The term sales person is out, relationship manager is in.

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The relationship between sales and marketing strategies is as follows

Corporate

Marketin
g
Increase Selling
Profit
Objective
= Increase
Strategy Market Objective =

Increase
Strategy= sales
Market
penetration Strategy=
Selected
Tactics products to

Tactics= Special
presentations of
different level
managers in the
same type of
industry.

17
 Products of the company
➢ Trading Portal (with almost negligible brokerage )

 Equity Broking

 Commodity Broking

 Derivatives (Futures & Options)

 Offshore Investments (Contract for Differences)

 D-Mat Account

➢ Financial Products

• Mutual Funds

• Life Insurance ULIP PLAN

TERM PLAN

MONEY BACK PLAN

➢ General Insurance  Vehicle/ Motor Insurance

Health Insurance

House insurance

➢ IPO’s

➢ NFOs

➢ Value-Added Services

➢ Retirement Planning

○ Financial Planning

○ Tax Saving

○ Children Future Planning

➢ Credit Cards

➢ Gold coins retailing

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➢ INTIAL PUBLIC OFFERING – IPO

a. When an unlisted company makes either a fresh issue of securities ( Through primary
markets ) or an offer for sale of its existing securities or both for the first time to the
public then that is known as an IPO.

b. The first sale of stock by a private company to the public. IPO’s are often issued by
smaller, younger companies seeking capital to expand, but can also be done by large
privately-owned companies looking to become publicly traded.

c. In an IPO, the issuer obtains the assistance of an underwriting firm, which helps it
determine what type of security to issue (common or preferred), best offering price
and time to bring it to market. Also referred to as a “public offering”.

➢ DERIVATIVES:

• In finance, a security whose price is dependent upon or derived from one or

more underlies assets.

• The derivative itself is merely a contract between two or more parties. Its
value is determined by fluctuations in the underlying asset.

• The most common underlying assets include stocks, bonds, commodities,

currencies, interest rates and market indexes. Most derivatives are
characterized by high leverage.

• Futures contracts, forward contracts, options and swaps are the most common
types of derivatives. Because derivatives are just contracts, just about
anything can be used as an underlying asset.

• Derivatives are generally used to hedge risk, but can also be used for
speculative purposes.

• To hedge this risk, the investor could purchase currency futures to lock in a
specified exchange rate for the future stock sale.

Derivatives are divided into basically two parts:

1. Futures

2. options

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 1. Futures:

a. A financial contract obligating the buyer to purchase an asset (or the seller to sell an
asset), such as a physical commodity or a financial instrument, at a pre determined
future date and price.

b. Futures contracts detail the quality and quantity of the underlying asset; they are
standardized to facilitate trading on a futures exchange.

1. Options:

a. A financial derivative which represents a contract sold by one party (option writer) to
another party (option holder).

b. The contract offers the buyer the right, but not the obligation, to buy (call) or sell (put) a
security or other financial asset at an agreed upon price (the strike price) during a certain
period of time or on a specific date (exercise date).

Options are consist of two things:

1. Call Option

2. Put Option

1. Call: It is the period of time between the opening and closing of some future markets
wherein the prices are established through an auction process. Call is an option
contract giving the owner the right (but not the obligation) to buy a specified amount
of an underlying security at a specified price within a specified time.

2. Put: Put is an option contract giving the owner the right, but not the obligation, to
sell a specified amount of an underlying asset at a set price within a specified time.
The buyer of a put option estimates that the underlying asset will drop below the
exercise price before the expiration date.

Sales Management process

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 Generating the
leads

Creating
awareness
Enquiry

Providing the
information about the
 products to the
consumers

Sales desire
Response
Proposal


Close the sale
Purchase
Follow-up

After sales service

21
22
 Sales Force Automation
1. Focus on cultivating customer relationships and

2. Improving customer satisfaction

The Ever-Evolving SFA

1. Early 1990’s companies with field sales forces were faced with tremendous

amounts of customer information.

2. Software vendors realized this unmet and unrecognized need.

The Promise of SFA

➢ Putting account information directly in the hands of field sales staff.

➢ Making them responsible for it with the promise of…..

➢ Making them more productive.

➢ Synchronize information with the corporate client/server database.

Sales Force Automation Tools

1. Sales Process/Activity Management

2. Include a sequence of sales activities

3. Guide sales reps through each discrete step in the sales process

4. Sales Process/Activity Management (cont)

a. Offer calendars to assist in the planning of key customer events

i. Proposal presentations

ii.Product demonstrations
23
 b. Alarm Reminders

i. Signal important tasks

ii.Generate documents as they are needed

iii.Make decisions based on the user’s input

5. Configuration Support

a. Automatically factors in complex customer attributes and requirements to

build a solution from scratch

b. Among the companies who may use such tools

i. Computer technology vendors

ii.Appliance manufacturers

iii.Telephone companies

6. Field Force Automation (FFA)

a. Part customer service and part sales force automation

b. Also known as “field service management”

c. Field technicians receive dispatch orders via their PDAs, pagers, and cell
phones

d. Making use of these same devices during the actual repair.

An SFA Checklist for Success

1. Understand how SFA will help, and enlist salesperson stake holder ship at the
beginning

– Initial requirements gathering

– Rollout tool

2. Communicate the value to the sales force up front

3. Invest in-and enforce-training.

24
 4. Beware of inherent sales processes packaged into SFA tools

– Customize YOUR sales process

5. Understand the infrastructure necessary to support wireless technologies

6. Let SFA use affect sales compensation.

7. Change hiring practices and job role descriptions to include use of CRM

SALES MANAGEMENT MODEL IN RELIANCE MONEY

Individual Selling Skills

Every Individual has a different style of selling therefore there is a change

in the amount of sales of the various personnel. The company must train
these personnel by giving the relevant information about the products
and train them in the sales process and also allow their natural style and
emotion to play a major role. This helps the sales person to achieve his
targets and also help company generate sales.

25
The recruitment process
A vacancy presents an opportunity to consider restructuring, or to reassess the
requirements of the job. This assessment is valid whether it is to fill an existing
job or a new one. Ask questions such as:
• has the function changed?
• have work patterns, new technology or new products altered the job?
• are there any changes anticipated which will require different, more
flexible skills from the jobholder?
Answers to these questions should help to clarify the actual requirements of the
job and how it fits into the rest of the organisation or department. Exit
interviews, or consultation with the current job-holder and colleagues may well
produce good ideas about useful changes.
Writing a good job description or job specification helps in the process of
analysing the needs of the job.
Job description/job specification
This should detail the purpose, tasks and responsibilities of the job. A good job description
should include:
• main purpose of the job - try to describe this in one sentence
• main tasks of the job - use active verbs, like 'writing', 'repairing', 'machining',
'calculating', instead of vaguer terms like 'dealing with', 'in charge of'
• scope of the job - expanding on the main tasks and the importance of the job. Job
importance can be indicated by giving information such as the number of people to
be supervised, the degree of precision required and the value of any materials and
equipment used.
A good job description is useful for all jobs. It can help with induction and training. It
provides the basis for drawing up a person specification - a profile of the skills and aptitudes
considered essential and desirable in the job-holder. It enables prospective applicants to
assess themselves for the job and provides a benchmark for judging achievements.
Factors to consider when drawing up the specification include:
• skills, knowledge, aptitudes directly related to the job
• the type of experience necessary
• the competencies necessary
• education and training but only so far as is necessary for satisfactory job
performance, unless the person is being recruited on the basis of future potential (eg
graduate trainees), when a higher level of education may be specified
• any criteria relating to personal qualities or circumstances which must be essential
and directly related to the job, and must be applied equally to all groups irrespective
of age, sex, race, age, nationality, religion or belief, disability, membership or non-
membership of a trade union. To do otherwise is potentially discriminatory
For instance, a clause requiring the successful candidate to move their place of work should
be included only when absolutely necessary, as it is likely to discourage applicants with
family care commitments.
26
The person specification helps the selection and subsequent interview to operate in a
systematic way, as bias-free as possible. The use of competency-based approaches can help
by focusing on the 'match' between candidate and role, but they are best used where they are
an integral part of the continuing assessment and development of staff.
After setting the job and the person specifications, consideration should be given to pay
rates. Factors such as scales, grades and negotiated agreements, as well as market rates and
skills shortages, may affect the wage or salary, and organisations should be aware of the
requirements of equal pay and discrimination legislation. Unless there is a formal system for
increments or length of service, paying the new employee a different rate from that paid to
the preceding postholder may contravene the relevant legislation. Employers must also
comply with the provisions of the National Minimum Wage Act 1998. The Agricultural
Wages Board sets the minimum rates for workers in agriculture.

Attracting applicants
The search for suitable candidates now begins. The process of marketing needs to be
undertaken carefully so as to ensure the best response at the least cost. The object is to get a
good selection of good quality candidates. Possible methods to consider are:

• internal recruitment - this method can have the advantage of building on existing
staff's skills and training, and provides opportunities for development and promotion.
It is a good way to retain valuable employees whose skills can be further enhanced.
Other advantages include the opportunity for staff to extend their competencies and
skills to the benefit of both the organisation and the individual, and the enhancement
of individual motivation. Use of a consistent, clear, procedure, agreed jointly between
employer and employees, has many advantages and avoids suspicion of favouritism

• JobCentres of the Department for Work and Pensions - will display employers'
vacancies and refer potential recruits. They also administer some of the Government
training programmes. The Disability Service Team staff at JobCentres can help
address the specific requirements of attracting disabled people

• Learning and Skills Council - may well have trained workers available through their
recruitment service, and can tailor training to an employer's requirements

• commercial recruitment agencies - often specialise in particular types of work, eg

secretarial, office work, industrial, computing, and may already have potential
applicants registered with them

27
 • Executive search organisations - usually working in the higher management/specialist
fields, will seek out suitable candidates working in other companies by direct
approach, or via specialist advertising

• National newspapers - advertising in the national press is expensive, but likely to

produce a good response for particular, specialist vacancies. Remember too there are
national ethnic group newspapers which will reach a wide audience

• Specialist and professional journals - less expensive than the national press, these
journals can guarantee to reach the precise group of potential applicants for specialist
and professional vacancies

• Internet - is beginning to emerge as a recruitment medium. It is mainly used for

graduate-level and technical jobs because it tends to target a self-selected group who
are computer literate and have access to the web at their place of study or work. Its
use is likely to grow.

• local newspapers, radio - for less specialised jobs, or to target groups in a particular
local area, advertisements in the local media may produce a good response

• local schools, colleges and the Careers Service - maintaining contact with schools,
colleges and careers advisers will ensure that the organisation's needs for
school/college leavers with particular skills and abilities are known. It can be
particularly useful to offer students the opportunity to spend some time at the
company, on work experience, or 'shadowing.

• word of mouth - introduction via existing employees or through an employers'

network. Whilst this may be economical, it is likely to lead to a much smaller pool of
suitable applicants and does not normally satisfy equal opportunities requirements
because any imbalance in the workforce may be perpetuated. The Equality and
Human Rights Commission warns against such practices where the workforce is
predominantly one sex or racial group.

Once the recruitment channel or channels are decided, the next step is to consider:
• The design and content of any advertisement used

• How applicants are to respond - by application form, fax, telephone, in person at the

organisation or agency, by letter, by email on the internet, by tape or braille

28
 • Who is to be responsible for sifting the applications? What is the selection process

going to be?

• If interviews are to be held, when will they be and will everyone who needs to be

involved be available?

• Are selection tests to be used? Is there the expertise to administer them and ensure

they are non-discriminatory and appropriate?

• Are references/medicals to be requested?

• Are arrangements in hand to give prompt acknowledgement of applications received?

The advertisement

Any advertisement needs to be designed and presented effectively to ensure the right

candidates are attracted. Look through national, local or professional papers and see what

advertisements catch the eye. The newspaper office will often advise on suitable formats.

Advertisements must be tailored to the level of the target audience, and should always be

clear and easily understood. They must be non-discriminatory, and should avoid any gender

or culturally specific language. To support this, the organisation should include in the advert

its statement of commitment to equal opportunities, which will underline the organisation as

one that will welcome applications from all sections of the community.

Consider the following factors in the advertisement:

• If the organisation is well known, does it have a logo that could feature prominently

in the advertisement? Make the advertisement consistent with the company image

• Should the job title be the most prominent feature?

29
 • Keep the text short and simple while giving the main aspects of the job, pay, career

prospects, location, contract length

• Can specific details - such as pay, qualifications and experience required - be given in

a way which will reduce the number of unsuitable applications?

• Is it possible to avoid generalisations such as 'attractive salary', or 'appropriate

qualifications' which may discourage valid applications?

• Can you provide job details on tape or in braille and accept applications in a similar

format?

• Is the form of reply and the closing date for applications clear? Is there a contact
name and phone number for further information and enquiries?
All advertisements should carry the same information, whether for internal or external use.
Application forms
Application forms can help the recruitment process by providing necessary and relevant
information about the applicant and their skills. The design of the form needs to be realistic
and straightforward, appropriate to the level of the job. Using application forms has the
following advantages:

• Comparing like with like is easier. CVs can be time-consuming and may not provide
the information required

• They provide the basis for an initial sift, and then for the interview

• The standard of completion can be a guide to the candidate's suitability, if writing and
presentation skills are essential to the job; however, be aware of the possibility of
disability discrimination

• They provide a record of qualifications, abilities and experience as stated by the

applicant.

Care also needs to be taken over some less positive aspects of application forms:

• There is a temptation to use application forms to try to extract too much information,
eg motives, values and personality characteristics. The form should concentrate on
the experience, knowledge and competencies needed for the job.

30
 • Some people may dislike filling in forms and so be put off applying for the job. Some
very experienced people may find the form inadequate, whilst those with little in the
way of qualifications or experience may be intimidated by large empty spaces on the
form application forms add another stage, and therefore more time, to the recruitment
process. Some candidates may be lost if they can obtain work elsewhere more
quickly

• Application forms may inadvertently be discriminatory. For instance, to require a

form to be filled out 'in your own handwriting', where written English is not relevant
to the job, may discriminate against those for whom English is not their first
language, or who may not have well-developed literacy skills.

Any information such as title (marital status), ethnic origin or date of birth requested for
monitoring purposes (eg for compliance with the legal requirements and codes of practice on
race, sex, disability and age discrimination) should be clearly shown to be for this purpose
only, and should be on a separate sheet or tear-off section. Such information need only be
provided on a voluntary basis. Medical information should also be obtained separately and
kept separate from the application form.

Additionally, the requirements of the Data Protection Act 1998 and subsequent Codes of
Practice on recruitment and selection, employment records, monitoring at work and
information on workers' health need to be noted - if any recruitment records are to be held on
computer or in a manual system, the applicant should be advised of this and for what
purposes and duration the information is to be held. All applications should be promptly
acknowledged.

Asylum and Immigration Act 1996

The Asylum and Immigration Act 1996 makes it a criminal offence for an employer to
employ those who do not have permission to live or to work in the United Kingdom. This
applies only in relation to employees who started work for the employer on or after 27
January 1997. For further information visit the Home Office website at
www.ind.homeoffice.gov.uk

Police Act 1997

31
The Police Act provides a statutory basis for certain criminal record checks which may be
used by employers. These checks can be made via the Criminal Records Bureau which came
into being in 2001. Three types of certificate are available. They are intended to provide
information on applicants for jobs which are exceptions to the Rehabilitation of Offenders
Act 1974 (for instance, those occupations including work with children or vulnerable adults,
work in medicine, the courts and other sensitive areas). In most cases employers in these
areas are required to register with the Criminal Records Agency and to follow a code of
practice.

Training process

1. Identify training needs:

a. Sources of training needs:

Training needs of the company based on the level of company development and HR policies
of company such as
• Plans and strategic goals … in the future.
• The upcoming needs of managers, professional staff.
• The changes in process of technology, tools and equipment.
• What are the requirements of law and standards affect to the organization.
Training needs are identified on Training Needs Appraisal Form by HR manager and / or
department heads
b. Review training needs:
1. Based on Training Needs Appraisal Form, Training manager will review and give
consultants to directors base on policies, procedures of company.
2. Then, training manager send Training Needs Appraisal Form to director for approval.
Based on the proposed division of department head and training manager, director approves
form and returned to the training dept.

2. Making training plan.

Training dept will make training plan based on the following factors:
• Training title.

32
• The purpose of the training.
• Training application.
• Training method.
• Time of training.
• Training costs…

Based on the training plan, directors will review with comments. In case, plan meet the
requirements then director will approve for implementation.

3. Implementation of training plan:

The training is done through 2 forms: training in house and external training.
• Training in house is a type of training trained by the professional training company or
trainer from management level.
• Training outside the form of training by outside experts and it is conducted outside
company. Training dept will be responsible for deploying training plan.
Details of this step express at process of training in house and external training process.

Training Records:

• Training dept have to maintain training records as regulated by this procedure as rules
related.
• These training records are maintained in the separate folder or personnel file till the
particular employee remains with the company

5. Training appraisal.

Effectiveness of training is appraised base on 5 levels as follows.

• Level 1: Reaction
• Level 2: Learning
• Level 3: Application and implementation
• Level 4: Final results
• Level 5: Return on Investment

33
Depend on type of training, training manager is responsible for identifying appraisal
indicators in written and send to director for approval.

Information resources
A management information system (MIS) is a subset of the overall internal controls of a
business covering the application of people, documents, technologies, and procedures by
management accountants to solve business problems such as costing a product, service or a
business-wide strategy. Management information systems are distinct from regular
information systems in that they are used to analyze other information systems applied in
operational activities in the organization. Academically, the term is commonly used to refer
to the group of information management methods tied to the automation or support of human
decision making, e.g. Decision Support Systems, Expert systems, and Executive information
systems.

It has been described as, "MIS 'lives' in the space that intersects technology and business.
MIS combines tech with business to get people the information they need to do their jobs
better/faster/smarter. Information is the lifeblood of all organizations - now more than ever.
MIS professionals work as systems analysts, project managers, systems administrators, etc.,
communicating directly with staff and management across the organization."

Motivation & compensation

1. Employee Motivation By Building Satisfaction

Employee motivation as it relates to employees satisfaction is vitally

important. And, it goes way beyond just a "happier workforce." Why?

Because there is an undeniable link between satisfied, motivated employees, and satisfied
customers. In other words, focus on creating satisfied employees, focus on employee
motivation, and those motivated, satisfied employees will take care of your customers.

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 2. Employee Motivation Through Genuine Appreciation

At times, managers unknowingly sabotage employee motivation by failing to recognize

the positive behaviours and achievements of their employees. As a result, employees don't

know whether or not they are doing a good job.

Fortunately, savvy managers can improve employee motivation by rewarding employees

with personal attention. This can include a pat on the back, a hand-written note, or a quick

comment in the hall.

By being specific, the employer comes across as much more sincere, and the employee

realizes their actions are truly being watched. And, a highly level of employee motivation is

the natural result.

3. Employee Motivation Through Recognition

Many people will do for recognition what they will not do for money. And, this is the
manager's secret weapon for employee motivation. Some people are motivated by the
opportunity to get their name on the wall, receive a trophy at an annual banquet, or see their
name in the company newsletter. It gives them an "emotional payoff" for their actions.

Look for ways to increase employee motivation by recognizing excellence in the workplace.
Ring a bell every time an individual or team hits the production target. Put up posters with
the photographs of team members who have had the most days without accidents. Give out
awards for attendance records. Just do something. It is so inexpensive, yet highly effective in
your efforts of employee motivation.

4. Employee Motivation Through Inspiration

Inspiration comes from leadership. This form of employee motivation includes the
company's mission, purpose and goals. People want to be part of an organization that is
going somewhere, that stands for something, and that provides a meaningful service to
themarketplace.

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If you want to lead an inspired, mission-guided organization, follow these steps and watch
employee motivation improve dramatically.

1. Have a clear mission - in other words, know where you are going.

2. Be excited and passionate about your mission. After all, if you don't get excited, they
won't either.

3. Be able to communicate the mission, it's value to the marketplace. In other words,
why it's worthwhile.

4. Make sure everyone in the organization understands and can communicate the
mission.

5. Be sure employees understand how they fit into the process of fulfilling the
organization's mission.

6. Make the connection between the mission and the individual values and goals of your
employees.

7. Keep your mission in front of everyone in the organization.

1. Employee Motivation Through Compensation

Some employees are motivated by money. In fact, most are motivated by money; at least for
their basic needs. Employee motivation through compensation can come in the form of
raises, performance bonuses, commissions, profit sharing, or any number of "extra benefits"
like, automobiles, vacations, or other tangible items purchased and used asrewards.

I noticed an interesting program in a hotel where I recently stayed. They have a sophisticated
system for rewarding employees based on customer feedback. Throughout the hotel, they
have placed customer feedback forms and boxes for depositing the forms. When customers
comment on the performance of a hotel employee, the employee accumulates points that can
be used to purchase rewards like trips, gifts, and other incentives.

Compensation:
Compensation is the remuneration received by an employee in return for his/her
contribution to the organization. It is an organized practice that involves balancing the
work-employee relation by providing monetary and non-monetary benefits to
employees.

Compensation is an integral part of human resource management which helps in

motivating the employees and improving organizational effectiveness
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ComponentsofCompensationSystem

Compensation systems are designed keeping in minds the strategic goals and business
objectives. Compensation system is designed on the basis of certain factors after analyzing
the job work and responsibilities. Components of a compensation system are as follows:

TypesofCompensation

Compensation provided to employees can direct in the form of monetary benefits and/or
indirect in the form of non-monetary benefits known as perks, time off, etc. Compensation
does not include only salary but it is the sum total of all rewards and allowances provided to
the employees in return for their services. If the compensation offered is effectively
managed, it contributes to high organizational productivity.

DirectCompensation Know More

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IndirectCompensation Know More

Need of Compensation Management

 A good compensation package is important to motivate the employees to increase the

organizational productivity.

 Unless compensation is provided no one will come and work for the organization.
Thus, compensation helps in running an organization effectively and accomplishing
its goals.

 Salary is just a part of the compensation system, the employees have other
psychological and self-actualization needs to fulfill. Thus, compensation serves the
purpose.

 The most competitive compensation will help the organization to attract and sustain
the best talent. The compensation package should be as per industry standards.

StrategicCompensation

Strategic compensation is determining and providing the compensation packages to the

employees that are aligned with the business goals and objectives. In today’s competitive
scenario organizations have to take special measures regarding compensation of the

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employees so that the organizations retain the valuable employees. The compensation
systems have changed from traditional ones to strategic compensation systems.

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Role of Center Manager

– Guide the personnel

– Educate them with various new offerings of the company

– To be updated with the market knowledge

– To motivate the personnel

– To help them close the deals

– To act as the link between personnel and the cluster manager

– To conduct meeting with personnel and know their problems and rectify them

Relationship of Cluster Manager and Center Manager:

Cluster Manager play the vital role in the organization. He holds the organization together
with co-ordination will all the various departments. This is done with the help of the center
manager. The cluster manager assigns the duties to the center manager for performing
various tasks. Therefore, the relationship between the cluster manager and centre manager is
the pivotal role in the progress of the company.

Relationship between Center Manager and HR Department

Any sales team performance depends upon the quality of personnel. Therefore, HR plays an
important role in recruitment, training and motivating. They go according to the needs of the
organization therefore helps the center manager to perform his tasks well.

Relationship between Center Manager and Finance Department

Finance department helps in cutting down the maintainence cost, increase the efficiency and
therefore increase the profits. They also keep a close eyes on the Appraisals, pay roll,
schemes of the organization. Thus it helps to motivate the personnel.

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 Methodology Adopted
There are several ways of collecting data while doing the project or any survey. In this
project, I have collected from two sources that are:

1. Primary sources
2. Secondary sources

PRIMARY SOURCE:

We have gathered information about our project from the interaction with the customers of
our company i.e. Reliance Money. The sampling method used was basically convenience
sampling and most of the calls made were cold calls made on the generated database of
recipients of other companies.

SECONDARY DATA:

The secondary data, I have collected from the various websites of reliance money, various
journals, magazines etc.

The methodology adopted in the procedure followed in order to give the projects its shape is:

1. Having a proper understanding of working of a financial company.

2. Inquiring and looking into the practicalities of work environment to have a correct
insight of process adopted.

3. Gaining information from files, documents, folders and soft copy stored in system.

4. Seeking information from the staff and taking their views in consideration.

5. Browsing the website of various financial institutions and BSE and NSE for the
necessary information required.
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 Finally compiling the primary and secondary data gathered, then making a study of
option available.

Observations & Findings

To study the sales and distribution management and improve the Customer Acquisition

Process by analyzing the consumer behaviour, response and mindset towards the product and

services the company offers.

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 Conclusion

We have taken the sales management project to

understand sales management done in an organization
and allow us to apply the practical knowledge that we have
learnt in daily to daily life.

We were overed in understanding of sales management of

Reliance Money, Hyderabad. The people in the
organization helped us in understanding the sales process
better. Each member of the group assigned to different
tasks with the help of sales personnel to gain as much as
practical knowledge and also we had class room sessions
for understanding the selling process.

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 Bibliography

www.reliancemoney.com

www.google.com

www.wikipedia.org

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