Topic

CORPORATE CULTURE - RELIANCE INDUSTRIES

SUBMITTED BY

KAVITA GUPTA

CLASS:MCom(Accontancy)SEMESTER:1

SUBMITTED TO:UNIVERSITY OF MUMBAI

PROJECT GUDIE:Prof:MS.SUBHASHINI NAIKAR

VIVEK EDUCATION SOCIETY’S

VIVEK COLLEGE OF COMMERCE

SIDDHARTH NAGAR GOREGAON (W)

MUMBAI-400062

YEAR:2015-16

INDEX

Sr No. Topic Name Page No

1 WHAT IS CORPORATE CULTURE? 7

2 RELIANCE INDUSTRIES LTD- INTRODUCTION 8

3 COMPANY HISTORY – RELIANCE INDUSTRIES LTD 9

4 Eight reasons why Reliance IPLC is better 19

5 India's largest Reliance industries limited

Products

21

6 Four Building Blocks of Reliance Company 23

7 Individual, Relationship, and Task Orientation 32

8 CONCLUSION 33

DECLARATION

I Ms.kavita gupta of Vivek college of commerce,

Goregaon (w) of M.Com-Accountancy(Semester-1) has completed

Project on CORPORATE CULTURE - RELIANCE INDUSTRIESin the academic year 2015-16.

This information submitted is true &original to the best of my knowledge.

Date: 18/10/2015 Signature of student (KAVITA)

ACKNOWLEDGEMENT

I would like to thank the University of Mumbai and myCollege for giving me this opportunity for taking such a challengingProject,which has enhanced my knowledge about “CORPORATE CULTURE-RELIANCE INDUSTRY” I express my sincere gratitude to the principal ,course Co- ordinator, guide prof. ms. SUBHASHINI NAIKAR and our librarian And other teacher for their constant support and helping for completingThe project.

I am also greatful to my friends for giving support in my Project .lastly,I would like to thank each and every person who helpedMe in completing the project especially my parents.

“NO ENDEAVOUR ACHIEVES SUCCESS WITHOUT THE ADVICE &COOPERATION OF OTHER

VIVEK COLLEGE OF COMMERCE

Siddharth nagar,Goregaon (W)

Mumbai-400062

CERTIFICATE

I Ms. SUBHASHINI NAIKAR here by certify that Ms.KAVITA

GUPTA .A student of vivek college of commerce of M.Com ACCOUNTANCY

(Semester -1) has completed project on “corporate culture” in the

Academic year 2015-16 . this information submitted is true and original

To the best of knowledge.

External Examiner: Principle:Date:

Project Co.ordinator: college seal Date:

Executive summary

Reliance Industries Limited is India's largest private sector conglomerate (by market value) and second largest in the world, with an annual turnover of US$ 35.9 billion and profit of US$ 4.85 billion for the fiscal year ending in March 2008 making it one of India's private sector Fortune Global 500 companies, being ranked at 206th position (2008).

- Reliance Industries will invest Rs 1,500 crore ($300 million) in oil and gas exploration and production sector over the next three years.

Foreign Institutional Investors (FIIs) convert 24 million shares of the company into Global Depository Receipts (GDRs)

Reliance Industries wins annual '2005 ASTD Best Award' from American Society for Training & Development

1) “WHAT IS CORPORATE CULTURE?”

The term "culture" has become a buzzword in the business community in the last few years. Different writers have defined culture in varying ways. In order to apply the concept of culture to any research, it is important that the idea be well understood.

Culture is not easily defined. Kluckhohn, one of the fathers of cultural studies, has defined culture as "the set of habitual and traditional ways of thinking, feeling, and reacting that are characteristic of the ways a particular society meets its problems at a particular point in time" (in Schwartz and Davis, 1981, p. 32). Edward Hall, who equates culture to a silent language, defines it as "that part of man's behavior which he takes for granted--the part he doesn't think about, since he assumes it is universal or regards it as idiosyncratic" by (1959, p. 30). Geert Hofstede (1993, p. 89), who is one of the first to attempt to quantify culture, defined it as "the collective programming of the mind which distinguishes one group or category of people from another."These definitions reveal that culture is manifested universally and is present everywhere. It is not something normally thought about, yet it affects decision-making and information processing. It colors everything in our lives.

Studies of cultures and their different characteristics are innumerable. Most of the research on cultures has been done from an anthropological perspective, which focuses on a description of the studied culture, attempting to eliminate any preference or bias introduced by the researcher. This leads to the "elimination" of all references or comparisons to "foreign" cultures. The studied culture is described in anthropological terms, but is rarely quantified. The results of anthropological studies of cultures are rarely comparable across cultures, since they are descriptive and are dependent on the individual anthropologist's methodology and perspective.

Research on culture sometimes focuses on large groups of people such as entire countries or regions (Hofstede, 1980, Trompenaars, 1993), while other research looks at smaller units such as organizations (Cooke, 1988; Hofstede, 1990). This difference is a question of "granularity," how small an entity is considered as one indivisible unit. Even without considering the difference in granularity, it becomes apparent that the author's perspective on what culture is impacts the methodology and the results of the study. 

RELIANCE INDUSTRIES LTD

Introduction

Reliance Industries Limited is India's largest private sector conglomerate (by market value) and second largest in the world, with an annual turnover of US$ 35.9 billion and

profit of US$ 4.85 billion for the fiscal year ending in March 2008 making it one of India's private sector Fortune Global 500 companies, being ranked at 206th position (2008). It was founded by the Indian industrialist Dhirubhai Ambani in 1966. Ambani has been a pioneer in introducing financial instruments like fully convertible debentures to the Indian stock markets. Ambani was one of the first entrepreneurs to draw retail investors to the stock markets. Critics allege that the rise of Reliance Industries to the top slot in terms of market capitalization is largely due to Dhirubhai's ability to manipulate the levers of a controlled economy to his advantage. Though the company's oil-related operations form the core of its business, it has diversified its operations in recent years. After severe differences between the founder's two sons, Mukesh Ambani and Anil Ambani, the group was divided between them in 2006. In September 2008, Reliance Industries was the only Indian firm featured in the Forbes's list of "world's 100 most respected companies"

Company History - Reliance Industries Ltd.

2001

- During FY 2000-01, Reliance was, in a 90:10 consortium with Niko Resources of Canada, awarded 12 new exploration blocks by the government through a process of competitive international bidding.

- Reliance Industries and RPG have envisaged interest in setting up a convergence network in industrial township of greater Noida.

- In April 2001, RIL successfully completed the first phase of a comprehensive restructuring plan for its textiles business located at Naroda, near Ahmedabad in the state of Gujarat, which presently contributes 1% of RIL's total revenues.

- Reliance Industries has acquired an equity stake in five of Tullow Oil's blocks in Gujarat and Andhra Pradesh.

- Reliance Industries has signed a memorandum of associatin with National Iranian oil and BP to undertake a $10 million easibility study to develop an LNG project in southern Iran.

- Reliance Industries has entered into an alliance with Bangalore-based Indus League for the manufacture of its sole branded garment, Reance.

- The Company has extended the share buyback programme for one more year as it has not bought back any shares during the current buyback period.

- Reliance Industries has raised its stake in Larsen & Tourbo from 0.38 percent to 2.87 percent.

- Reliance Industries will invest Rs 1,500 crore ($300 million) in oil and gas exploration and production sector over the next three years.

- : Reliance Industries Ltd (RIL) has been granted the Golden Super Star Trading House status by the Directorate-General of Foreign Trade (DGFT) in recognition of RIL's outstanding achievement in export. RIL is the first manufacturer-exporter to be given this status

- Reliance is the world's third largest producer of paraxylene (PX),and the world's fourth largest producer of PTA. Within the country, Reliance is the largest manufacturer of PX, PTA and MEG, with a marketshare of over 80%.

-In Nov. 2001, Reliance Industries sold its just over 10% equity stake in Larsen & Toubro, the second largest player in the cement industry, to Grasim Industries for Rs 766.5 crore. The divestment of the L&T stake is in consonance with its declared objectives of unlocking value from its investments, in the interests of maximising overall shareholder value.

2002

- In Jan. 2002, Reliance Petroinvestments has become a subsidiary of the company, while Reliance Life Insurance Company and Reliance General Insurance Company have ceased to be subsidiaries of the company.

- Shareholders of Reliance Petroleum Ltd on April 15 approved the merger of RPL with Reliance Industries Ltd at a meeting held in Jamnagar and convened under the orders of the Gujarat High Court.

- Reliance Industries acquires 26% state & management control in Indian Petrochemicals Corporation Ltd. (IPCL) by paying Rs 1490.84 crore to Government of India.

2003

- Discovers gas it its offshore exploration in Gujarat

- Finds more gas in Block D6 in the deep waters of Krishna Godavari Basin

- Shuts down the aromatics plant at Jamnagar, Gujarat

- Company’s Hazira manufacturing unit gets IMC-Bajaj quality award 2002

- Discovers fourth gas in KG-basin

- Unveils two improved lines of acrylic fibres

- Anil Ambani appointed as BSES MD

- Reduces stake in BSES from 55% to 49.5% and BSES ceases to be subsidiary of the company due to the disinvestment

- Revises reserves of gas in Krishna Godavari Basin to 10.45 trillion cubic feet

- Signs pact with Council of Scientific and Industrial Research (CSIR) to create breakthrough technology in key areas from laboratory to commercial scale wherein the company will be offered the first right to the IPR (intellectual property right) for commercial development

- Ties up with DuPont Polyester Technologies (DPT) for the research and development (R&D) of the advanced polyester process and product technologies in India

- Foreign Institutional Investors (FIIs) convert 24 million shares of the company into Global Depository Receipts (GDRs)

- Strikes substantial gas reserves in Shahdol, Madhya Pradesh

- Shifts corporate headquarters from Maker Tower IV, in Nariman Point to Reliance Centre in Bellard Pier

- Oil discovered in RIL's exploration block 9 in Yemen in which the company holds 20% shares

- Global rating agency Moody's changes the outlook on debt securities of the company from negative to stable

- Incidence of leakage in the FCC section of the company's refinery at Jamnagar, in the State of Gujarat

-Anil Ambani, Vice Chairman & Manading Director, voted as MTV Youth Icon of the Year

-Initiated the work on deep-water exploration block, KG-D6, in the Krishna-Godavari basin off the Andhra Pradesh coast.

-Mukesh Ambani, chairman and managing director (CMD), donates $2 million to health programmes of the International Federation of Red Cross (IFRC) and Red Crescent Societies

-Reliance exhorts NTPC Kayamkulam plant transplantation to Kakinada

-Reliance occupies top slot in oil exports

2004

-Munich Re throws away Reinsurance JV program with RIL

-Reliance Industries Associate signs MOU with National Organic Chemicals Industries Limited (NOCIL) fo taking over its petrochemicals & plastic products division

-Reliance Industries Ltd has informed that FLAG Telecom on January 12, 2004 announced that the Company (FLAG Telecom) has amalgamated with Reliance Gateway

-Reliance Jamnagar refinery voted best among 50 refineries worldwide

-Gujarat gives away Gujarat Garima Awards to Tata, Ambani

-Reliance Industries Limited (RIL) has increased the capacity of its Jamnagar refinery to 33 million tonnes from 30 million tonnes.

-Mukesh Ambani ranks 40th in the world business leaders

-Reliance join hands with Gail for Indo-Iran natural gas pipeline project

-Reliance Industries, country' largest private sector company, has surged ahead of global players after it posted a net profit of more than $1 billion in 2003-04.

-RIL chairman wins Asia Society Leadership award

-RIL, IOC inks deal for petro goods offtake

-Reliance Industries announced that it had acquired Trevira, a polyester company in Germany, for around Rs 440 crore (E80m), taking it closer to the position of the world's largest polyester maker

-Reliance join hands with Temasek for $200 mn Power Fund

-Reliance picks up Nasscom IT Excellence Award

-RIL gets `Petrochemicals Company of the Year' award for 2004

2005

-RIL partners with Vivada for sale of diesel to fishing trawlers and boats

-Reliance Industries Ltd was awarded the `International Refiner of the Year' 2005 at the World Refining and Fuels Conference's awards ceremony held in San Francisco on March 10, 2005.

-Reliance Industries wins annual '2005 ASTD Best Award' from American Society for Training & Development

-Reliance Industries wins two National Energy Conservation awards

-Reliance Industries bags 'National Award for R&D Efforts in Industry - 2005'

-Reliance Infocomm has joined hands with Vyjayanti Movies, the producers of 'Jai Chiranjeeva' featuring Tollywood megastar Chiranjeevi, Sameera Reddy and Bhumika Chawla.

2006

-RIL inks marketing pact with Gulf Oil

-Reliance Industries has unveiled the much-talked about Reliance Fresh brand, the first format of the company's Rs 25,000-crore retail initiative, here on October 29.

2007

--Gail India Ltd and Reliance Industries Ltd (RIL) signing a Memorandum of Understanding (MoU) for cooperation in gas sector on March 15, 2007.

- Reliance Industries Ltd has appointed Dr. R A Mashelkar has been appointed as an Additional Director on the Company's Board.

-Reliance Industries Ltd has formed a $110 million joint-venture with Mammut Group of Dubai.

-Reliance signs agreement to acquire assets in Malaysia Consolidating global polyester vision.

-Reliance Industries Ltd has signed Technical Evaluation Agreement in 2005 which has been converted to Hydrocarbon Production and Exploitation Contracts with Agenda Nacional de Hydrocarburos (ANH) of Colombia for two Offshore blocks, Borojo (pronounced as Boroho) North and Borojo South.

2008

- Reliance Industries makes Another Gas Discovery in Shallow Water Block in the Krishna Basin.

- RIL wins a Deep Water block in NELP VII

- Reliance Industries Strikes Eighth Gas Discovery in Block NEC - 25 in the Mahanadi Basin

- Reliance signed an agreement to acquire certain polyester (capacity) assets of Hualon, Malaysia.

- Reliance also signed MoU with GAIL (India) Limited to explore opportunities of setting up petrochemical plants in feedstock rich countries outside India

2009

- Reliance Industries has discovered natural gas reserves in a well drilled on its NEC-25 block in Mahanadi basin, off the Orissa coast.

- Reliance Industries has raised around Rs 3,188 crore through sale of 1.50 crore equity shares of the company.

- RIL joins the league of global deepwater oil and gas operators - RIL commenced production of hydrocarbons in its KGD6 block in the Krishna Godavari basin with the production of sweet crude of 420 API.

- RPL merger with RIL: Value creation through scale and synergies - The merger of Reliance Petroleum Limited (RPL) with Reliance Industries Limited (RIL) has enabled seamless integration of operational scale and financial synergies that existed between the two Companies.

-Reliance Industries has given the Bonus in the Ratio of 1:1

2010

- Haryana Special Economic Zone (SEZ), Reliance Industries (RIL) has roped in a partner, in a bid to re-energize its dormant.

- During the year, RIL and BP announced a strategic partnership in the oil and gas business. This partnership comprises BP taking 30 per cent stake in 23 oil and gas production sharing contracts that Reliance operates in India, including the KG-D6 block, and the formation of a joint venture (50:50) for sourcing and marketing gas in India.

- The Company entered into partnerships in the United States of America with Atlas Energy, Pioneer Natural Resources and Carrizo Oil & Gas through three distinctive joint venture agreements.

- RIL acquired a 95% stake in Infotel Broadband Services Limited, which emerged as a successful bidder in all the 22 circles of the auction for Broadband Wireless Access (BWA) spectrum conducted by the Department of Telecommunication, Government of India. RIL has invested Rs. 4,201.64 crore by way of subscription to equity capital issued by Infotel Broadband.

2011

- Reliance Industries (RIL) entered a deal with NTPC and GAIL, ensuring supply of more gas to Andhra Pradesh power projects by the end of April, 2011

- Reliance signed MoU with Gujarat on petroleum education

- Reliance-BP deal strengthened productivity at D-6 block

- RIL - Reliance Industries and D. E. Shaw Group announced Joint Venture.

- Reliance Industries Ltd. awarded Application Level A+ by GRI for Sustainability Report "New Businesses. New Technologies. New Partnerships. (2011)

- RIL - Reliance Industries finds Gas and Condensate Discovery In Cauvery-Palar Region

- Reliance partners with Siemens to bring state-of-the-art homeland security solutions to the Indian market

- RIL signs $7.2 bn oil & gas deal with BP

2012

- Mukesh Ambani-led Reliance Industries Ltd (RIL) and the state-run oil giant Petroleos de Venezuela, SA (PDVSA) has inked 15 year supply agreements with the company.

- Reliance Brands partnered with US based Iconix Brand Group

- Reliance Mutual Fund launched a new close ended income scheme named “Reliance Fixed Horizon Fund - XXII - Series 33” with maturity time of 550 days

- RIL - Jamnagar SEZ Refinery wins coveted British Safety Council's Globe of Honors

- RIL - SIBUR and Reliance form a Joint Venture to produce butyl rubber in India

- RIL in deal with Texas-based Fluor Corp

- RIL inked MoU with TV18 groups to get access to content for 4G broadband

- Reliance Industries Ltd partnered with Himachal Futuristic Communications Ltd to provide 4G network. - RIL signed Cisco to develop core technology framework for 4G services

2013 -RIL signed a US$ 2 billion equivalent loan with nine banks covered by Euler Hermes Deutschland AG. The loan will be primarily used to finance goods and services procured from German suppliers as part of RIL's petrochemicals expansion projects at Jamnagar, Hazira, Silvassa and Dahej in India.

-The Global Reporting Initiative (GRI) awarded A+ level to RIL's Sustainability Report 2011-12. This is the seventh year in a row RIL has received highest application level on sustainability reporting. RIL is also the first company to adhere to the GRI 3.1 Oil & Gas Sector Supplement, released in February 2012.

-The share buy-back programme which ended in January 2013, RIL bought and extinguished 46,246,280 equity shares of Rs. 10 each. It was 38.54% of the total buy-back offer quantity of 120,000,000 equity shares. The total amount invested in the buy-back was Rs. 3,366 crore and the average price at which the equity shares were bought back was Rs. 726.68 per share.

-RIL's SEZ Refinery at Jamnagar won the prestigious 'Globe of Honor Award' for the excellence in Environmental management by the British Safety Council, London.

2014 -Reliance Jio and Bharti signed agreement under which Reliance Jio will utilize dedicated fiber pair on Bharti's i2i submarine cable that connects India and Singapore. The i2i cable system will provide Reliance Jio direct access and ultra-fast connectivity to major hubs across Asia Pacific.

-RIL-BP announced a new gas condensate discovery off the east coast of India in the deepwater block CY-DWN-2001/2 (CY-D5) in the Cauvery basin.

-Reliance Jio received Unified License for all 22 Service Areas across India and becomes the first telecom operator in the country to get pan India Unified License.

-Reliance Jio acquired spectrum in 14 key circles across India in the 1800 MHz band in the spectrum auction conducted by DoT, Government of India.-RIL selected for two offshore blocks (M17 and M18) in Myanmar Offshore Block Bidding Round -2013.

-Reliance Jio and ATC India signed a tower sharing agreement for utilizing telecom tower infrastructure of ATC India across the country.

RIL commissioned new PFY plant at Silvassa which is the most automated and one of the most environment-friendly plants globally.

Eight reasons why Reliance IPLC is better

Whether it is dedicated circuits, private switching arrangements or pre-defined transmission paths - virtual or physical - Reliance International Private Leased Circuits offer you eight exclusive advantages that gives your company a competitive edge.

Advantage # 1: fully owned infrastructure

Reliance is the only telecom carrier that has a wholly-owned global sub-sea cable network with a presence in over 27 countries, as well as 24-hour proactive network monitoring and support.

Advantage # 2: Reliability

Reliance's IPLC service is one of the most reliable submarine cable networks. More important, it is very well supported by Reliance's extensive domestic network.

Advantage # 3: One Stop Shop (OSS)

An End-to-End link with Single-End-Provisioning and Single-End-Billing:

Domestic link - including the last mile in India and in the foreign country - with our carrier partner.

Our fully-owned circuit between the international PoP in India and the designated PoP at the international end.

Dedicated teams for implementation and support in India and the US.

Advantage # 4: Affordable World-class Services

Reliance has tie-ups with top international carriers that give it a global reach and enable it to offer international quality SLA-level service standards, giving the customer world-class services at highly competitive and affordable prices.

Advantage # 5: Choice of currency

Complete flexibility in currency for payments - INR, USD or Euros, or even a combination of Indian and foreign currencies

Advantage # 6: Scalability

Reliance offers highly scalable solutions for its IPL service, as there are no barriers for upgrading the capacity of circuits or provisioning multiple circuits. Connectivity capacity

can be scaled up at very short notice, enabling our customers to quickly react to their business needs.

Advantage # 7: QoS with SLAs

We offer a very high Quality of Service (QoS), backed by service level commitments. Since Reliance uses an integrated network for its End-to-End services, there are greatly fewer points of failure in the network, and our end-customers get a very high quality service. Our cutting edge technology translates into exceptional network reliability and service availability.

Advantage # 8: More Security

We offer complete redundancy through diverse paths on the trans-Atlantic and trans-Pacific routes.

India's largest Reliance industries limitedProductsReliance Industries Limited has a wide range of products from petroleum products, petrochemicals, to garments (under the brand name of Vimal), Reliance Retail has entered into the fresh foods market as Reliance Fresh and launched a new chain called Delight Reliance Retail and NOVA Chemicals have signed a letter of intent to make energy-efficient structures.

The primary business of the company is petroleum refining and petrochemicals. It operates a 33 million tonne refinery at Jamnagar in the Indian state of Gujarat. Reliance has also completed a second refinery of 29 million tons at the same site which started operations in December 2008. The company is also involved in oil & gas exploration and

production. In 2002, it struck a major find on India's eastern coast in the Krishna Godavari basin. Production from this find is expected to start by the third quarter of 2008.

Major Subsidiaries & Associates -Reliance communications

Reliance Petroleum

Reliance fresh

Reliance insurance

Reliance mutual fund

Reliance communications

Anil Dhirubhai Ambani Group, an offshoot of the Reliance Group is founded by Shri Dhirubhai H Ambani in1932-2002, ranks among India's top three private sectors business houses in terms of net worth. The group has business interests that range from telecommunications (Reliance Communications Limited) to financial services (Reliance Capital Ltd) and the generation and distribution of power (Reliance Infrastructure Limited).

Reliance - ADA Group's flagship company, Reliance Communications, is India's largest private sector information and Communications Company, with over 92 million subscribers. It has established a pan-India, high-capacity, integrated, convergent (voice, data and video) digital network, to offer services spanning the entire infocomm value chain.

Reliance Petroleum-Reliance Petroleum Limited was set up by Reliance Industries Limited (RIL), one of India's largest private sector companies. Currently, RPL is subsidiary of RIL. RPL also benefits from a strategic alliance with Chevron India Holdings Pvt Limited, Singapore, a wholly owned subsidiary of Chevron Corporation USA (Chevron), which currently holds a 5% equity stake in the Company.

Jamnagar Refinery-:Refining activities of Reliance Industries Limited are carried out at the Jamnagar refinery complex with refining capacity of 27 million tonnes per annum (540,000 barrels per day).

The refinery is able to process a wide variety of crudes- from very light to very heavy (from 18 to 45 degree API) and from sweet to very heavy (with sulphur content from 0 to 4.5%).

The refinery project is being implemented at a capital cost of Rs 270,000 million being funded through a mix of equity and debt. This represents a capital cost of less than US $10,000 per barrel per day and compares very favourably with the average capital cost of new refineries announced in recent years. The International Energy Agency (IEA) estimates the average capital cost of new refinery in the OECD nations to be in the region of US $15,000 to 20,000 per barrel per day.The low capital cost of RPL becomes even more attractive when adjusted for high complexity of the refinery.

Reliance FreshReliance Fresh is the convenience store format which forms part of the retail business of Reliance Industries of India which is headed by Mukesh Ambani. Reliance plans to invest in excess of Rs 25000 crores in the next 4 years in their retail division. The company already has in excess of 560 reliance fresh outlets across the country. These stores sell fresh fruits and vegetables, staples, groceries, fresh juice bars and dairy products.

Reliance General InsuranceReliance General Insurance Company Limited is a part of Reliance Capital Ltd. of the Reliance Anil Dhirubhai Ambani Group. Reliance Capital is one of India's leading private sector financial services companies, and ranks among the top 3 private sector financial services and banking companies, in terms of net worth.Reliance General Insurance is one of India's leading private general insurance companies with over 94 customized insurance products catering to the corporate, SME and individual customers. The Company has launched innovative products like India's first Over-The-Counter health & home insurance policies.

Reliance General Insurance has an extended network of over 200 offices spread across 173 cities in 22 states, a wide distribution channel network, and 24x7 customer service assistance. It is also India's first insurance company to be awarded the ISO certification across all functions, processes, products and locations pan-India.

Reliance Mutual Fund

Reliance Mutual Fund (RMF) is one of India's leading Mutual Funds, with Average Assets Under Management (AAUM) of Rs. 1,22,252 CRORES and an investor base of over 72.40 Lacs. (AAUM and investor count as of November 2009)

Reliance Mutual Fund, a part of the Reliance - Anil Dhirubhai Ambani Group, is one of the fastest growing mutual funds in the country. RMF offers investors a well-rounded portfolio of products to meet varying investor requirements and has presence in 118 cities across the country. Reliance Mutual Fund constantly endeavors to launch innovative products and customer service initiatives to increase value to investors. "Reliance Mutual Fund schemes are managed by Reliance Capital Asset Management Limited., a subsidiary of Reliance Capital Limited, which holds 93.37% of the paid-up capital of RCAM, the balance paid up capital being held by minority shareholders."

Reliance Capital Ltd. is one of India's leading and fastest growing private sector financial services companies, and ranks among the top 3 private sector financial services and banking companies, in terms of net worth. Reliance Capital Ltd. has interests in asset management, life and general insurance, private equity and proprietary investments, stock broking and other financial services.

Reliance Capital Limited Trustee: Reliance Capital Trustee Co. Limited Investment Manager: Reliance Capital Asset Management Limited Statutory Details: The Sponsor, the Trustee and the Investment Manager are incorporated under the Companies Act 1956.

Four Building Blocks of Reliance Company-Division of work.

Departmentalization.

Make hierarchy.

Co-ordination.

1.Division of workIn division of work we divide the work in different departments.by making departments it is easy to make smart goals and it also saves the time. It is not possible to run such a large organization without division of work in different departments. Reliance Company in such a large organization that it needs departments. So the working of those main 4 departments is following-:

The 4 Main Departments of a reliance company

Sales department

Purchase department

Finance and accounting department

Operations departmentThere are so many aspects to running a large company that it must be divided up into smaller departments in order to operate effectively. If it is to function efficiently, then it is essential that each of these departments communicates well each other and with its suppliers and customers. ICT plays a crucial role in this communication.

Sales department-:Every company is in business to make money. It will either be selling a product or a service. The Sales department deals with marketing and advertising the product/service and taking orders.

The advertising may be done by means of:

newspapers or magazines

radio or TV

catalogues

flyers

CDs

Internet etc.

The sales may be made by

phone

on-line

emails

printed order forms

Sales reps that work for the company and offer the customer a friendly face and ready answers to any questions.

Purchasing department-:

If a product is being manufactured, then the components that go to make up this product will have to be purchased from various suppliers. These components are crucial to the product and it is essential that there are always enough of them on site for the product to be manufactured every working day.

The purchasing department must know when to re-order components and how many at a time. Too many would lead to a cash flow problem with the company having to pay out for the supplies before it can recoup the cash by selling the product. Too few would lead to the company standing idle (and therefore losing money) while it is waiting for these precious components.

Even if there are no actual components to buy (i.e. a service is being sold), there are still materials to purchase (buy or rent)- computer paper, printer ink or toner, other office supplies, cleaning supplies, company cars etc. In addition every company needs electricity, phones, computers, water, building rents, council tax rates etc.

Finance or accounting department-:The Finance Department is responsible for all the money that comes into and goes out of the company. Records of all receipts and payments will probably be done on computer via spreadsheets. It will obviously liaise very closely with the Purchasing and Sales departments. It will set annual budgets for the company and keep a check on the performance of the company throughout the year, producing graphs and charts where necessary.

It is also responsible for calculating and paying the wages of the employees. This means it must also make deductions for Income Tax, National Insurance, and Pension fund contributions.

Operations department-:This is the department where the actual production of the goods or services takes place. If it is a manufacturing company, then they may well be using computer aided design (CAD) and/or computer aided manufacturing (CAM) to produce the product.

If there is no actual product as such (i.e. a service) then the employees will probably be working at computers to perform their jobs. Such companies are in the majority today, as

the manufacturing industry declines and are being replaced by service industries. A few obvious examples are:

Banks/building societies

Insurance companies

Software companies

Travel agents

While these are the 4 main departments in any large organization like reliance, even these are often subdivided into smaller departments, such as Personnel (Human Resources), Salaries, Project teams etc.

2.Departmentalization-Departmentalization refers to the process of grouping activities into departments. Division creates specialists who need coordination. This coordination is facilitated by grouping specialists together in departments.

Types of departmentalization-Geographic departmentalization - Grouping activities on the basis of territory. If an organization's customers are geographically dispersed, it can group jobs based on geography. For example, the organization structure of Coca-Cola has reflected the company's operation in two broad geographic areas

Product departmentalization - Grouping activities by product line. Tasks can also be grouped according to a specific product or service, thus placing all activities related to the product or the service under one manager. Each major product area in the corporation is under the authority of a senior manager who is specialist in, and is responsible for, everything related to the product line. LA Gear is an example of company that uses product departmentalization. Its structure is based on its varied product lines which include women's footwear, children's footwear and men's' footwear.

Customer departmentalization - Grouping activities on the basis of common customers or types of customers. Jobs may be grouped according to the type of customer served by organization. The assumption is that customers in each department have a common set of the problems and needs that can best be met by specialists. The sales activities in an office supply firm can be broken down in three departments that serve retail, wholesale and government accounts.

Process departmentalization - Grouping activities on the basis of product or service or customer flow. Because each process requires different skills, process departmentalization allows homogenous activities to be categorized.

Functional departmentalization - Grouping activities by functions performed. Activities can be grouped according to function (work being done) to pursue economies of scale by placing employees with shared skills and knowledge into departments for example human resources, IT, accounting, manufacturing, logistics, marketing, and engineering. Functional departmentalization can be used in all types of organizations.

Reliance Company has geographic type of departmentalization and the detail of that type of departmentalization is following

Grouping activities on the basis of territory. If an organization's customers are geographically dispersed, it can group jobs based on geography. For example, the organization structure of Coca-Cola has reflected the company's operation in two broad geographic areas - the North American sector and the international sector, which includes the Pacific Rim, the European Community, Northeast Europe, Africa and Latin America groups in the same way reliance company has a very large ring its departments are also in America and India so in this way this type of organization has geographical departmentalization.

3.Make Hierarchy-:Hierarchy

A hierarchy is an arrangement of items (objects, names, values, categories, etc.) in which the items are represented as being "above," "below," or "at the same level as" one another and with only one "neighbor" above and below each level. These classifications are made with regard to rank, importance, seniority, power status or authority. A hierarchy of power is called a power structure. Abstractly, a hierarchy is simply an ordered set or an acyclic graph.

Five Levels of the Hierarchy of NeedsThere are five different levels in Maslow's hierarchy of needs:

Physiological needsthese include the most basic needs that are vital to survival, such as the need for water, air, food and sleep. Maslow believed that these needs are the most basic and instinctive needs in the hierarchy because all needs become secondary until these physiological needs are met.

Security Needs

these include needs for safety and security. Security needs are important for survival, but they are not as demanding as the physiological needs. Examples of security needs include a desire for steady employment, health insurance, safe neighborhoods and shelter from the environment.

Social Needsthese include needs for belonging, love and affection. Maslow considered these needs to be less basic than physiological and security needs. Relationships such as friendships, romantic attachments and families help fulfill this need for companionship and acceptance, as does involvement in social, community or religious groups.

Esteem needs-:after the first three needs have been satisfied, esteem needs becomes increasingly important. These include the need for things that reflect on self-esteem, personal worth, social recognition and accomplishment.

Self-actualizing Needs-:this is the highest level of Maslow's hierarchy of needs. Self-actualizing people are self-aware, concerned with personal growth, less concerned with the opinions of others and interested fulfilling their potential.

Reliance has Geographical type of hierarchyThe next hierarchy to consider is location. Locations can be thought of as a hierarchy starting with "The World" (or "Global") as the top of the tree and splitting down further into regions, countries, counties or states, cities and streets.

At the bottom of each branch of the hierarchy will be an actual physical location usually with some company asset (an office, manufacturing plant, service centre etc) located at it.

The organization can take advantage of this information in many ways. For example a multi-location sales based organization could display a hierarchy of locations with the revenue generated at each office "rolling up" through the hierarchy. This would allow managers to compare different offices and areas with one another and to view an overall sales figure for the organization as shown below

4.Co-ordination

Definition of co-ordination-co-ordination can be defined as 'synchronization of efforts from the stand-point of time and the sequence of execution'in general co-ordination means bringing together the activities and resources of organization and bringing harmony in them.

Elements of co-ordinationIntegration- it refers to the unification of all unrelated interests or activities bringing together the efforts and directing them to a common direction. Integration result is better performance of the organization. In the organization employees come from different backgrounds. They have different interest different aspirations. the co-ordination function is unify ad bring together the interest of all the employs towards the interest of the organizations

Balancing- it means integrating the activities and efforts of different departments, working independently. It brings harmony in the working of whole company. Although the departments of an organization independently but there activities must relate to each other. Else there can chaos and confusing.

Timing-it means scheduling the operations in a suitable order so that there is no interruption in the operating process due to delay in one activity. Integrating the timing of different activities leads to smooth flow and smooth working of an organization.

Importance of co-ordination-Coordination is needed to perform all the functions of management -

In planning co-ordination is required between main plain and supportive plains of different departments

I organizing co-ordination is required between different resources of an organization of an organization and also authority responsibility and accountability.

In staffing co-ordination is required between skills of a person and job assigned to him, between efficiency and compensation etc.

In directing functions co-ordination is required between superior and subordinate between orders, instructions guidelines and suggestions etc.

Coordination is required at all levels

top level is requires co-ordination to integrate all activities of organization and lead the efforts all the individual in one common direction.

Coordination is required at idle level to balance the activities of different departments so that these can work as a part of one organization only.

Lower level requires coordination to integrate the activities of workers towards the achievement of organizational objectives.

Co-ordination is the most important function of an organization-

Any company which fails to co-ordinate its activities can not survive and run successfully for a long time.

Coordination in a Large, Multi-Business Firm-:

In dissertation, it examines intraorganizational social networks and their antecedents and consequences. The first paper, jointly authored with Michael Tushman, is a theoretical discussion of the role of social networks in inter-divisional coordination. Most large organizations fail to develop new businesses that combine resources from disparate parts of the firm. I define and explore a brand of corporate entrepreneurship based on interdependent innovation - the deliberate creation of interdependence between autonomous divisions of multi-business firms to create new products. I argue that interdependent innovation is difficult because the social structures that promote exploration of new possibilities are inconsistent with the social structures needed to successfully execute interdependent innovation; I suggest that senior leadership plays a crucial role in transitioning the organization between different network structures.

Empirically, there are at least two methodological hurdles to researching the complex interaction between formal structure and social structure in contributing to organizational outcomes. First, the kind and quality of data that have typically been collected to conduct network analysis are inadequate; and second, there is a paucity of research that accounts for the embeddings of the informal structure in the formal. In the second dissertation paper, I begin to resolve these two issues. I argue for data collection methods relying on electronic communication archives (e.g., e-mail) for network analysis. I also empirically develop novel measures that use this data to quantify the social structural relationships between formal divisions; in doing so, I explicitly embed informal structure within formal structure in novel ways.

The third dissertation paper, jointly authored with Toby Stuart and Michael Tushman, is an empirical study of the pattern of communications - and, by extension, the coordination that it enables - in a modern organization. We analyze a dataset with more than 100 million electronic mail messages, calendar meetings and teleconferences for a sample of more than 30,000 employees of a single, multidivisional firm. In dyad-level models of the probability that pairs of individuals communicate, we find very large effects of spatial proximity and formal organizational structure on the rate of communication; homophily effects based on gender, organizational tenure, and salary levels are much weaker.

How to Improve Coordination in a Business Organization-How to Improve Coordination in a Business Organization is a common question asked by organizations small and large. In order for business organizations to improve coordination they must have strong processes in place combined with the proper business management software. The software tool best suited to improving coordination in a business organization by streamlining workflow processes and improving collaboration is Web Based CRM Software. Salesboom.com has a full suite of CRM Software solutions designed to increase the productivity of your organization with coordination tools like shared calendars, instant messaging, web self service portals, shared reporting and shared tasks. These tools combined with our other powerful features like marketing automation and sales force automation will provide your business with all the answers to the question, How to improve coordination in a business organization.

Individual, Relationship, and Task Orientation  

Denise Rousseau (1990) divided cultural attributes into three categories: individual, relationship-oriented, and task-related. Research may focus on one or more of these areas, depending on its objectives.

Certain reliance ltd attributes, including freedom, self-expression, and flexibility belong to each individual. The attributes studied do not directly impact the ability of the individual to perform a task, or relate to others.

Interpersonal attributes are those that focus on communication, fairness, and teamwork. These may be reflected in honesty, approval seeking, and communication style. These attributes enable groups to get along and live in harmony.

Task-related attributes such as innovation, analysis, and risk-taking influence the decision-making of the individual, as well as the ability to accomplish a task. An individual who fears failure or is perfectionistic will approach life very differently from someone who does not feel that failure is a problem or that everything must be perfect.

A study of the available descriptions of culture will show that this categorization of cultural attributes can be used to group the different attributes used. We should note, however, that researchers who explicitly name cultural attributes use attributes that fall into all three, or at the very least two, of these categories. This division of attributes is most useful when approaching a specific problem. It allows focusing on the attributes most relevant to the research. 

CONCLUSION

Company provides very well services to their customers, which batter than other companies, so insurance holders are satisfied to the company.

The Company has very good awareness in the city but still a very big area which are not aware about the company, so I would like to suggest that company should advertise in that area about their services. The company can increase awareness from hoardings in small villages and Towns.

The company can emphasize on their policies and their benefits in their advertisement.

Find out big potential customer and encourage them for the investing in unit link policy.

Company should give advertisement in local newspaper like Hamlogs and other local newspaper and also put hording in near villages of the city so farmers and

other people also can know about the company and can get the more potential customers.

It also needs to educate the people of the city and nearest village like anavada, rajpur, matarvadi etc. especially the once who could afford insurance policy. By this way company can get two folded benefits as it can generate a good publicity and also earn the high premium through the volume of sales.