CAHPTER 1 INTRODUCTION 1.1 EXECUTIVE SUMMARY Bank of India is a state-owned commercial bank with headquarters in Mumbai. Government-owned since nationalization in 1969, It is India's 4th largest PSU bank, after State Bank of India, Punjab National Bank and Bank of Baroda. It has 4157 branches as on 21/04/2012, including 29 branches outside India, and about 1679 ATMs. The bank is a founder member of SWIFT (Society for Worldwide Inter Bank Financial Telecommunications ), which facilitates provision of cost-effective financial processing and communication services. The Bank completed its first one hundred years of operations on 7 September 2006. The promoters incorporated the Bank of India on 7 September 1906 under Act VI of 1882, with an authorized capital of Rs. 1 crore divided into 100,000 shares each of Rs. 100. The promoters placed 55,000 shares privately, and issued 45,000 to the public by way of IPO on 3 October 1906; the bank commenced operations on 1 November 1906. 2 1.2 OBJECTIVES OF THE STUDY Primary objective To study the overall functions of the company and to understand the duties and responsibilities performed by employee at different levels in the organization. Secondary objective To understand the history, growth profile, structure & future plans of the organization. To understand the hierarchical structure followed in the organization To conduct a SWOT analysis. To determine the functions & procedure of various departments in the organization To interact with the manager at different levels & to know their responsibilities & routine activities. To observe at their work place & to interact with them 1.3 SCOPE OF THE STUDY 3 The Organization study conducted at BANK OF INDIA-KERALA ZONAL OFFICE was aimed at getting a firsthand information of its organizational structure, the different departments, the duties and responsibilities of the different management levels, the various functional and managerial activities taking place and finally an overall review of the company. The information was collected mainly through the interaction and communication with the concerned departmental head and authorities. 1.4 CHAPTERIZATION 4 Chapter 1 The first chapter is the introductory chapter and includes the objectives of the study, Scope of study, and chapter scheme. Chapter 2 The second chapter is about the theoretical background Chapter3 The third chapter is about industrial profile. This chapter includes the world, Indian & state scenario of the industry. Chapter 4 The third chapter is about the company profile and this includes history of the company stating the objectives and developmental stages since inception, date of inception, ownership status, capital structure, competitors, organization. This chapter also includes departmental details also each department’s structure, functions, procedure, duties and responsibilities, policies and programmes. Chapter5 The fifth chapter refers to SWOT analysis i.e., strength, weakness, threats and opportunities of the organization also findings, recommendation and conclusion is included. 5 CHAPTER 2 LITRETURE REVIEW 2.1 Concepts of organizing 6 Organizing “ Organizing is the process of identifying and groping the work to be performed, defining responsibility, delegating authority, establishing relationships, for the purpose of enabling people to work most effectively together in accomplishing objectives” - Lousis. A. Allen The act of creating activities and assigning suitable workers to complete these activities successfully, efficiently and effectively. It requires a formal structure of authority and the direction and flow of such authority through which work sub division are defined, arranged and coordinated so that each part relates to other part in a united and coherent manner so as to attain the prescribed objectives. it follows, therefore that the function of organizing is concerned with: 1. Identifying the tasks that must be performed and grouping them whenever necessary 2. Assigning tasks to the personnel while defining their authority and responsibility. Organization is the task of mobilizing resources. It is a structure involving a large no. of people engaging themselves in a multiplicity of tasks, a systematic and rational relationship with authority responsibility between individuals and groups. It involves dividing the entire work into manageable units, departmentation, decentralization, delegation and span of control. LOUIS A ALLEN: Organization is a mechanism or structure that enables living things to work effectively together. The evolution of all forms of life and of human society demonstrates the need for organization. Various types of organisations are; 1. Hierarchical Organization The hierarchical organization is very effective in a relatively stable environment, where the efficient and predictable delivering of products is its main reason of existence. Following the rules and procedures is of the utmost importance here. This type of organizations is often characterized by a machine bureaucracy with a role culture. 2. Market Organization 7 In a more competitive environment, hierarchical organizations are no longer that effective, since they are too ‘internal minded’. A more external minded organization is required in such conditions. This type is called the market organization and is strongly focused on the result of the production processes. The economical and political environment is perceived is dangerous and is approached aggressively. The focus in this type of organization lies primarily on the results and productivity. The feeling that holds the company together is that feeling of being better than the competition. Here, a task culture dominates. 3. Family Organization In a family organization (which is most often a professional bureaucracy) the idea that success is a consequence of individual development, teamwork and shared norms and values is paramount. The freedom of action for the individual employee is cherished. This type of organization is characterized by a lot of attention for the individual and a strong sense of solidarity. The culture in this type of company is a personal culture. 4. Adhocracy In an adhocracy, the temporary character of the organization is the central tenet. This is a consequence of the central position of innovation and fast adaptation to new situations. Hierarchical power levels are missing and someone’s influence can strongly fluctuate based on the problem that is being solved. In cultural perspective, creativity, entrepreneurship and a dynamical attitude dominate. The overall task is innovation and the production of unique and original services and products. The dominant culture in this type of organization is a combination of a task and personal culture. These four organizational types are strongly correlated with the structure and culture in that are being implemented in the organization. Organizing is the act of rearranging elements following one or more rules. Anything is commonly considered organized when it looks like everything has a correct order or placement. But it's only ultimately organized if any element has no difference on time taken to find it. In that sense, organizing can also be defined as to place different objects in logical arrangement for better searching. 8 2.2 Organization An organization is the systematic arrangement of people working together in a structural way to accomplish some specific purpose. Three common characteristics of an organization People Structure 9 Purpose There are 2 concepts of organization Static concept Dynamic concept Static concept:- under static concept the term ‘ organization ‘ is used as a structure, an entity or a network of specified relationship. In this sense, organization is a group of people bound together in a formal relationship to achieve common objectives. It lays emphasis on position and not on individuals. Dynamic concept:- under dynamic concept the term ‘ organization ‘ is used as a process of an organizing activity. In this sense, organization is a process of organizing work, people and the systems. It is concerned with the process of determining activities which may be necessary for achieving an objective and arranging them in suitable groups so as to be assigned to individuals. It considers organization as an open adoptive system and not as a closed system. Dynamic concept lays emphasis on individuals and considers organization as a continues process. 2.3 Departmentalization It is the first step in the organizing process. Departmentalization refers to the process of grouping activities into departments. There are different methods of departmentalization 1. Functional departmentalization 10 In functional departmentalization, departments are segregated i.e. separated from each other based on functions or tasks they perform. Examples of functional departmentalization include; production department, finance department, marketing department, human resource (HR) department, etc. Here, all activities, which are directly or indirectly connected with production are grouped together to make a production department. Fig no: 1 2. Process departmentalization In process departmentalization, departments are separated based on their role in a production process. Example of process departmentalization can be seen in a textile mill where we may have a spinning department, weaving department, dyeing department, printing department, etc. Here, inside a textile mill, all activities, which are directly or indirectly related with spinning are grouped together to